“They Stole $20 MILLION!” The Dark Side Of New York City’s Diamond District | TraxNYC

You have to be competitive and vicious. >> I'm going to lose my [ __ ] mind. So, please be careful, bro. >> You give away a lot of gold on your channel. >> Yeah, I gave away I'm going to give away more. >> Each one of these ounces is two grand. Let's see if somebody wants it for free. >> Free sample or tracks back. >> Anybody, please. >> Why do you think that people on the street are so clueless about the price of gold? >> People should be like angels, but forget about what they should be doing. Money is a game and everybody's responsible for playing it smart. >> I want the gold. >> Now, when you were doing your business, how did you end up in debt? Credit card fraud and theft. >> How much debt did you get in? >> A couple of million. I was a young kid. They took advantage. I didn't know that people could be evil. You know, you look a little skeptical to me. You don't believe my story. >> I believe your story. It's just surprising. >> Get the out of here. Gold is about trust. Can you trust the federal government? If you watch the gold price, it's always about what's actually happening. That's when it comes into play because then you're going to need a currency system that's backed by something and measured by something. And the question then becomes is not how many dollars you have, it's how many grams you have. Well, I'm curious. What is the craziest thing that you've made out of gold? >> Um, well, I make a lot of crazy figurines, right? You know, like I made the baseball that a bunch of other figures. But right now, I'm trying to make the Indiana Jones, you know, when he's switching that bag of dirt for that big gold head. >> Yeah, >> that is going to be though about 10 kg of gold. There's a lot of lowhanging fruit >> in making crazy things out of gold. Can you curse on this podcast? Crazy out of gold. You know what I'm saying? Oh, and also a reminder, if you want to see this episode and future episodes early, completely uncensored, you can join the membership as well. You'll get early access to everything, bonus episodes, and no ads, no sponsorships. But anyway, yeah, check it out. So, I'm working with one of my friends, Buon Trading LLC, and we're I'm going to be taking his gold cuz he trusts me, and melting it into crazy things. And the stuff I did is minor. I use my own gold, which is like a quarter of a million dollars for the baseball or, you know, 300 grand. I made the subway card or whatever. I'm just getting started. Coming up with a couple of ideas to market my jewelry business. That's it, man. You know, >> trying to get to your level, bro. >> You could just keep remlting the same thing over and over to different things. >> There is a little bit of a loss where you know where the gold goes and how. And if you're ever in New York, I'll show you the smelting process. I know you'd love that. >> You know what I'm saying? try to pick up some dust particles on the ground. >> Yeah, there's there's some >> sweeping around there. >> There's some gold loss, you know, which is very frustrating and annoying, especially when you cast it and then you polish it. That's really uh uh uh you know, you're losing if it's a big object, 20 g, 30 g, you know, of of that's an ounce. That's like $3,500. >> Do you always have gold on you? >> Um, usually. Yeah. I mean, I wear a little bit of gold here and there. Nothing crazy. You know what I'm And I got my little eagle. I got my 24 karat pendant right here. Oh, my star David of course. And this is my 24K that from another thing. This just a regular little pieces to just >> How much are those worth >> at today's price altogether? Like 15 to 20,000 I think altogether. I mean this piece right here is 3,000. The chain is you know uh two grand. All right. This one is also around three to four and another chain two, three grand, you know, gold price is high and then the star of David or whatever. So, what attracted you to the jewelry business? >> Um, well, you know, I was actually like a tech guy. Then I was installing a video game on my friend's computer, Counterstrike. I'm sure you played that. >> Yeah. >> I was installing Counter-Strike. He got a ton of viruses. You know, whole family used his computer. So many viruses. They clicked on every popup. >> Yeah. back in 200, you know, uh three or 2004, the family clicked on everything, you know, get getting so the the and he was desperate for Counter Strike, right? The guy was having some issues. He wanted to just stay home and play Counter Strike, you know, serious issues. >> All right. Um so I'm there helping him out. I'm installing Counter-Strike, uninstalling these viruses, and his cousin is uh sees me and he's like, you know, he sees I'm a computer dude, and these guys are in the hood. this is not whatever. Okay, this is this is the hood at that time. And they see me in solving these problems. They're like, "Oh, this guy's a computer dude right here." So, he takes me in and um this dude and he, you know, he's hustling. He's driving. At that point of time, he was buying fake clothing from brands, you know, like fake branded clothing from Canal Street, just a Chinatown, driving it out of state, selling it like it's real. It's just a hustler. and he was also working with some jewelry stores over there just networking trying to find how to whatever. Um, and he put me on and he got me in and I became kind of like an intern uh for him and um at some point of time he had me sell you know a shirt on eBay. You ever heard that brand? No. >> It's like a Japanese brand that used you know did denim and it was very big like handmade denim whatever. I sell it for 120 bucks and um the customer gets it and returns it and he's like, "I don't want this fake crap." So I'm like, "I give back the money." I'm like, "Yeah, man. My bad, bro. This customer returned it, doesn't pick up my call, debted me for $120." I'm like, "All right, you want to dead me for 120 bucks? I'm gonna go back to that store that I saw and photograph the jewelry, put it up on eBay, uh, sell it, buy it, learn it, ship it, uh, get to the manufacturer, start my business. >> It's funny, we have a very similar story. So, how I got started was taking pictures of fish and coral, right? >> Uh, for a wholesaler, they'd put it online, sell it. >> Those skills led me to doing lease listings on Craigslist. I'd take pictures of other agents listings in my office cuz I just started. I was 18 years old. and I take the the photos for free. I offered them the photos, but I said, "Well, if I lease it from Craigslist, I get the commission for the tenant and you lease it and you get a you get a a tenant for your client." >> And that's how I got started. Exactly. It was just taking free pictures and you saw an advantage. It was the dawn of the internet, so to speak, right? you saw an advantage and or you saw an opportunity uh where uh other people were blind and for a very I mean know if I had any actual you know I was born in a communist country business was not in the mentality so that really held me back you know I didn't even know I could start a business I didn't really believe in my idea because it was just so foreign uh you know and uh maybe a lower self-esteem or whatever so that held me back you know with one foot in one foot out but I had to learn the industry for a very long time and I I got it through the door. Yeah. You know, but at that time there was lowhanging fruit that people grabbed. You know, some people did a better job. Some people were in their prime for that like a Jeff Bezos. >> He wasn't 18 during that time. He was 30ome and he realized what the opportunity was with the internet and he grabbed it. So, >> was there a specific moment that it kind of clicked and then you realized, okay, this I can turn this into a real fullyfledged business that makes really good money? >> Um, well, I started making money. I was in the top 1% of the eBay people when I was like 19 and they flew me down to DC to lobby in Congress. You know what I'm saying? Um because they had a lobby. You know, you look a little skeptical at me. You don't believe my story? >> I believe your story. It's just surprising. So you were 19 and you went to go lobby Congress. >> Yes. So basically they invited their top 1% sellers to DC and then at that time, you know, they were going to try to impose sales tax on eBay or whatever the hell they were going to do. and um uh they wanted a they opened up a DC office and they wanted their top sellers to lobby, you know, in in Congress to tell them this is going to hurt whatever. All right? So, they have us go with the assistant of Chuck Schumer and the assistant of whoever. And it was cool. I got to go to the Capitol building. I got to go to this and that. And uh that was a great experience. But I was to answer the original question, I was in the top 1% making money. I should have raised my prices, but again, I kept my prices too low because I'm like, how can people afford jewelry? I just didn't have the mentality. You know what I'm saying? I came to America in 1993, you know, and I opened up the business in 2004. Okay. So, um I was born in Baku Azerbaian, you know, was a Soviet Union at that time. This is people weren't thinking about business. People weren't thinking about nothing. But I knew it could happen here. And I was making money. And then I um um made a couple of mistakes, you know, lost uh control of my business and I had to backtrack for a long time. >> How do you lose control? >> I was building a business around my friends. I was an employ an employer. I just hired my friends and then that ruined the relationship and then they got replaced and then the people that I had to replace him with um began to steal and there was credit card fraud and I lost money and then in order to fight that off I had to do a bunch of other nonsense. And I had another friend from Florida come up and uh help me out. But by the time we structured the business, I was in debt. So then I had to do this and I had to do that and I had to do this and I had to do that. And people were stealing is really what it was. You know what I'm saying? And I was too naive. How did they steal from you? >> Too stupid. Huh? They steal. You know what I'm saying? You picked up this ring uh for Right. Um Right. Or I picked up this ring from you. You're the wholesaler. I'm me. I picked up this ring and I picked up that ring and that ring and then you bill me for an extra ring and I didn't check the bill and then I ship it and then the return came and my staff took the item and just pocketed it. You know what I'm saying? They didn't give me to the return. It's just they were and I had no awareness that somebody would steal. I didn't know that people could be evil and um you know that they wouldn't even forget about fearing God. They were like, "Yo, this I'll get the money. I'll this guy over. Who cares?" I I didn't think like that. You know what I'm saying? I thought in a different capacity. >> Are there any red flags if someone's going to steal from you that you look for that you see now? >> Now, yeah. Now, 100%. I mean, it's not even about the red flags that you see, it's guilty before proven innocent. If an honest person, you see that there's an honest person there. You know what I'm saying? Uh like you see something and it's hard to describe you know a fake human being that's overly nice like oh yeah I'm you know what I'm saying like you start looking this guy's really really trying to be nice or trying to be like he's a good person might be hiding something you know might be this so a person is guilty until they prove themselves >> innocent okay not like in the court of law where they're innocent until they're proven guilty in in real life a person is I don't trust you I don't know you until you prove yourself to be whatever. But it's in what they say, you know, a person communicates with you and if something just rubs you the wrong way, you know, I it's in your ears. Like if you're eating a meal >> and there's a funny taste, stop eating it. Something is wrong. Either it's on the floor or something fell in or some dish soap or something. That funny taste is not because it's it's it's just it's funny. You know what I'm saying? It's funny taste is something happened that you didn't see. And and same thing with a person. You have to have that sense like what is this person saying? You know, why is he acting like like he's really for it? And you know, why did they disappear? Like I had this nasty person that I had employed. Here's an example. >> I'm walking up the stairs. I see him walking out of the, you know, in in in the building in the dime district and everyone's got gem shops. This one, diamonds here, there. I see him walking out of a hallway that I've never seen him before that I've never even been in. So, I'm looking and I ask, you know, what what was going on in there and they give you an answer. I was just picking up something and I'm just doing this and I'm just doing that. And I'm like, you know what I'm saying? That doesn't make sense, right? That doesn't add up. If you're in some place working for my company that I've never been in, you'd say, "Hey, this is a great place to pick up gems and pick this." It turns out this individual piece of was scheming and using my company to pick up manufacturers and keeping them in their back pocket thinking that they're going to build out some amazing dream of theirs. It is what it is. You see it, don't ignore it. You know, somebody's like this, that, they're watch their eyes. Watch what they're doing. Watch what they're saying. Add it up. If you yourself are honest, you'll see that something is out of line and it's, you know, if something is out of line, then something is hidden. Keep your distance and be aware. >> Can tests like test your employees, test the people that are close to you. Like, >> yes. How do could you reveal how you do that or maybe a test you've done in the back? >> Yeah. Um uh well, you know, I'm thinking about the individual individuals that are there and um the different behaviors and activities that I've seen. Obviously, the easiest thing is to leave something around and see if it disappears. That's the easiest test. That's entrament, so to speak. You know, some people, but you know, there's some people that will come up to you and say, "Hey, this was over here." And there's some people that will, oh, he didn't notice that this is gone. And they make that betrayal. But the easiest way is just to leave around and look stupid and and and let people believe that you have a blind spot that they could exploit. And then eventually, you know, it's a dirty game. It's for it's a it's a primitive game for primitive people, man. >> Now, when you were doing your business, how did you end up in debt? >> Credit card fraud and theft. >> How much debt did you get in? >> Couple of million. >> How old were you? I was in my 20s, late 20s. By that time, I was losing money consecutively for 10 years. >> How did you not detect that you how were you operating a business that was losing money for 10 years? >> I was growing it. So, I had a bigger sales volume. I was always able to cover something with something. All right. So, I, you know, I grew my sales volume to a million dollars a month. So, that gave me a floating capital, >> but you know, I lost some of that capital, so it covered it. So, I'm thinking, "All right, well, I'll sell more and I'll make it back." But then I make sell more and then it's not there. You know what I'm saying? So, um, it's just a lot of nefarious [ __ ] I was a young dude. I was a kid and I was I have to admit here on the Graham and Jack Ice Coffee Hour that I was a little [ __ ] You know what I'm saying? It's a shame, but it's reality. And so, it was literally just people saying, "Oh, yeah. I bought seven rings." When in actuality, they bought six. And they were just upcharging you as your employees. and >> employees and vendors, nasty, dirty little crooks that would just, you know, play with the bill and, you know, listen, it's a complicated bill. I'm selling a lot of I'm running around. I'm like, "All right, man. I know this guy's not going to me. I'll trust it and I'll just take care of it and I'll pay it." That was just stupid, bro. What happened to those people? Are they still in business? >> Some of them are. Some of them know what the is is the deal with me and they don't play with me. You know what I'm saying? And um uh they're around, man, and they they are what they are. What can I tell say about that, man? Although really quick, something that comes up often on the podcast is diversification. And more people are beginning to look into gold and silver. With everything going on in the economy, it makes sense. Like the dollar is already down 9% this year, while gold is up 25%. That's a major shift in purchasing power. 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Head to noblegoldinvestments.com/istic to get started or to schedule a free consultation. Again, that is noblegoldinvestments.com/istic or the link is also down below in the description. Thank you so much for sponsoring this episode. And now, let's get back to the podcast. During this period of time where you were in debt but still making good money, trying to push that debt over, were you living a luxurious lifestyle? When you were making all this money in your 20s, were you spending it on nice cars, nice dinners, fancy dates? >> In the first one, first I I bought a nice car and I had something going for me in the beginning when I started making money. It was it wasn't the craziest car, but back then for you know, it was a Audi S5 with the V8. >> How much were you making at the time? >> I don't know. You know, I was just a kid who just photographed some jewelry. You know what I'm saying? I didn't know accounting. I didn't know how to write a check. >> No idea though. You wouldn't >> I estimated that I was making 10 grand a month to 20 grand a month, but I didn't have an expense report. I didn't have Quickbooks. I didn't have nothing. I had an eBay store, photographs of jewelry, sold the jewelry, pick it up from these vendors. Now, I could have I was one of the first jewelers on there. That's why I had all that traction. You know what I'm saying? I could have made millions at that time. All I needed to do is manufacture. But instead, I'm photographing from these pieces of worthless, man. And they're telling me, you know, and they're not like, you know, straight answers. You know what I'm saying? You don't understand the type of people that you're dealing with. They just tell you yes to anything. And then they say they I never said that. You know, straight to your face, like beyond your wildest comprehension. All right. So, you're going, you know, this ring can't be sized. So, I come up to you. you're the vendor and I say, "Listen, I need this ring for my client in a size N." And you know, can you order it for me? He's like, "Yeah, it'll take me one week. No problem." Uh, all right. One week later, you come to him. I'm like, "Listen, the customer's been waiting. I gave you the money. Where's the ring?" He's like, "What? Four weeks to order this?" Huh? I'm like, "You told me one week?" No. Oh, and I'm like, you piece of. So, I'm like, now I have to struggle with the client telling some come back four weeks later. You didn't I didn't even order it. You didn't even pay me. Then another four weeks go by. If it comes in, it's not even the right size. I told you size eight. What? Huh? No shame, no nothing. >> Did they put anything in writing? >> I should have slapped him across his face that that very moment, bro. They know what to What writing, bro? This is a you know >> just just a like a like a >> I was a young kid. I was a young kid. It was all >> they took advantage. I I I was a young kid who thought the world worked in a different way. You understand? That's really what it was. This that these people I'm not going to say derogatory. You know what I'm saying? But you're dealing with people that are just the biggest pieces of bro. And it was my fault. You know what I'm saying? I should have saw it. I should have walked out the door and whatever. But I thought I I was just insane. >> What motivated you to make as much money as possible? >> I mean, you know, you want to be a successful person. You want to eat. You want to be able to take care of your family. You want to have a beautiful girl. You want to have one or two of them. You want to buy an apartment. You want to have art collection like Graham. Man, what do you mean? What motivates you for the money? >> But some people don't actualize that. Like they they they say they want the money and they feel like they want the money, but they don't wanting and actually wanting are two different things. >> So is a word. Want is a word. You're not comfortable in where you are, so you have to go. But if you're comfortable where yeah, you want this, but you really want to roll a blunt is what you really want cuz that's what you're doing. How can you be doing something? Oh, baby, I want to love you and want to be with you, but you're out with another chick. You know what I'm saying? So, you want the other chick? You don't want to love or you don't want to do this. You're doing what you want. You You know what I'm saying? What you you're saying you want money, but what you really want is to kick back, be lazy, blow smoke up your own cuz that's what you're doing. So, how the hell do you want? >> So, what set you apart from all the people who say they want it, they never take action. >> I needed it. I didn't want it. I needed it. There's no point of me living and this and that. I want to be able to order this bottle of wine. I want to be able to impress this chick over here. I want to be able to pull up in this car. I need it. I don't want it. I want to be able to have a good time and really feel uh and and experience life for for its utmost. And you know, I had the the the necessary IQ points to be able to structure, you know, whatever is in the environment, eBay, picture, this and that to to claw at this. That's it. Do you think you have more street smarts than the average person? Um, at this point I have Yeah, for sure. You know what I'm saying? Um, whatever that even means. Street smarts or or whatever it might be. Sure. Do you think the jewelry industry attracts just greedy people? Um, does it attract just greedy people? Not necessarily. You know, it attracts all sorts of people. And there's great people doing business over there. Some of them more disgusting than others. Um, but there's great people doing business there. But yeah, by nature, you have to be competitive and vicious. The product is in the hand. Okay? It's a different environment. There's no scannable barcode. Yeah. All right. There's no warehouse. You're not selling paper towels. Some people could make things disappear and cost you money. They could take your client. They could cut your throat. They could do a bunch of stuff. So, it's a very competitive, vicious business. But the people that are in it, been in it for generations. They know the rules and that's that. The the person that's coming in there and thinking that they're going to make something happen is a different type of of [ __ ] And there's a lot of those. But, um, yeah, you know, a sales guy, you know what I'm saying? somebody in sales and they see the money and nobody's out there, no matter the more you pay them, the more they think they're going to be richer on their own. So, if you pay them nothing, you know, they're going to be sitting there scheming. And if you pay them a lot, they're going to be scheming even more. Man, it's not comfortable. You have to judge character. Character. You have to judge character and build a relationship with someone that's fair. How often do people fake wealth? All the time. What do you mean? Like what are the ways that you can spot real versus fake wealth? Can you immediately tell if someone's actually >> Yeah, absolutely. >> But are there tells when someone walks in, talks to you that you could tell this guy's full of >> Yeah. >> And what are those tells? I don't even listen to the words, man. I listen to the energy. It's as soon as I hear speech that's like, you know what I'm saying? Somebody come in, oh yeah, man. Oh, I like this and this is that. And I'm just like, just shut the up, bro. Get the out of here. You know what I'm saying? I walked into your home, man. I comment your art. Wait till you see the hallway. It's an informationational exchange. >> You know what I'm saying? The information resonates. All right. It resonates. The the the vibrations go into the eardrum and into the brain and and it's like, "Oh, okay. This makes sense." You know what I'm saying? And oh, oh, this is what you're doing. This is the book I read. This is the book, you know, your goosebumps collection or whatever. This is your favorite. This is there's a back and forth exchange that's building a relationship that's building uh positiv positivity. If I came in there and said, "Yeah, I have a better one." >> What would you think, bro? >> I'd want to see a photo of it. >> Yeah. Or you Yeah. You want to see a photo or you this and that. But still, even if I did have a better one, why wouldn't I say something positive? >> You know what I'm saying? Why play some stupid game, you know? So, this is kind of um my experience of it as people come up to me all the time. I got a jewelry store. You know what I'm saying? There's no gate to get through. They walk inside and they say, "I have this." And I might be wrong. >> I might be judging people incorrectly, >> but they might say, "I have this idea or this or I want that or I want this." And I'm just listening to them like, "Yeah, go speak to over here." But if it resonates and someone is saying something that inside my mind isn't annoying me, then I'm starting paying attention and you know, some people lift you up and inspire you and some people put you down and I'm sensitive to the feeling. I'm not even focusing on the words. I'm sensitive to the feeling. >> That's what it is to me. >> What about clothing and flexing and watches and stuff like that? Can you cuz I've heard that if you eclipse like a real crazy level of wealth, you start wearing like kind of dragged old clothing like like Adam Sandler and a lot of like like >> Shy Stop having to prove anything. >> Well, you don't have to prove anything when you've been in a million movies. >> Okay. Sure. What about other people? Do you notice like a correlation at all with like the actual physical appearance of like very wealthy people versus not? >> Not often. this one guy that I know, he's got a collection of Ferraris and um uh but he likes to dress with the nice [ __ ] and he's wearing Richard Meals and he's doing his thing. You know what I'm saying? And he uh was the CEO of a Sharpie, you know, the marker brought that to market. You made serious money. You're talking about half a billion dollars altogether or something like that. The guy shows money, but he wants to be fit, wants to look good. Take a look at Jeff Bezos. He was doing Amazon, you know, he's got that picture of him in his purple eggplant Halloween costume. But as soon as he made that money, he said, "What the [ __ ] am I going to do at Amazon all day long?" And, you know, t tinkering with this shopping cart button, got himself a yacht, got jacked, got himself a side chick, and whatever. >> What What about Elon, though? Cuz he still has the tiny home. He doesn't have any fancy cars. He like >> What do you think about the difference of someone maybe like >> Yeah, sure. I mean, a star is a star. The man is a, you know, the man is a star, so it doesn't really matter. If the women looked at him like he was a loser, she would put something on, bro. >> But the knows he's got all the money in the world. And she's googlyeyed, smiling, okay? That's how women are. All right, so that is the name of the game. And if you get the impression across, it's way more helpful. Sure, you could be humble like uh John the Baptist, you know, eating locusts and dried honey, you know, and in in in the desert, but um uh that's a different dimension. So, it's interesting. When I was working as as a real estate agent, I'd host open houses every single Sunday at Beverly Hills, >> and I can't tell you the amount of fake people who came in every single Sunday. And you could you could point them out cuz they ended up getting really dressed up to go and see an open house, and they always had a story. like you mentioned, they would always start talking about themselves. Oh, I sold this business and now I'm looking for this. My price range is $7 million and you know my but they start going explaining too much and the real people walked in. I noticed really understated would never want to talk to you when you ask their information. They'd say, "Oh, you know, I'll sign it and that's it." They really just didn't want to be bothered. Correct. But they'd more walk in and out with a bit of confidence to them. And I also noticed that sometimes the the poorest dressed people >> were the richest. The dude who's walking in with with flip flops, kind of a dirty white t-shirt and sweatpants, he's the one with like $200 million. >> Correct. In some cases, but you know, he's flashing money in other places. You know, he's going over there. Everybody got a plan. >> That person that was muttering nonsense when they walked through there, they thought they're going to wake up and they're going to come up and they're going to tell a story about how they're this and how they're that. and you see that, you know, and it doesn't resonate. You're open house. You get to the point. It is what it is. You don't know me. I don't know you. I might have a million dollars or trillion dollars or what have you. I don't know, you know, but this is the house. You're buying it or you're not. It It makes sense. The [ __ ] that makes sense makes sense. The doesn't doesn't. And people with But you know, professional scam artists after they Some people like, "Oh, I'm embarrassed. I got caught being a fraud." And they leave. >> And some people like, "Oh, I know why I got caught. Let me adjust my strategy. I'm going to come in there on some I know that he's thinking that in his head that I'll come in there with the flipflops and the and I'll even have my friend come up to you and say you dropped this and it's some expensive whatever a scam. They'll fool you. There's lots of crazy scams out there, man. There's a lots of people that if they invest their energy into fraud, they will um go past these filters that you're noting. >> Yeah. It's interesting, too. People would even tie up properties in escrow. I've noticed they would they would claim they sent a wire transfer. But then one of the digits was like mixed by mistake and it's like, oh well, I sent this deposit for the for the down payment on the house. We already have a signed deal. Now I got to wait to get that back. And then a week goes by. I'm still waiting to get it back. They send it again. Something went wrong. >> What's the advantage of doing all those? >> I've never figured it out. >> Right. I I think it's the feeling of importance or they think maybe I'm going to hustle this deal over here and like get the money for it or maybe I could have a friend come seller more >> disable but it's happened multiple times. >> There's a reason and I don't know different people we there's never been a scam. It's it's mostly the people I think wanting attention >> right they want attention. Yeah. I mean in Beverly Hills and LA they want to be a part of that life and a part of that top and but they're not. What about different levels of wealth and how they purchase items from you? For example, if you have someone maybe worth like 200 million, are they buying crazy iced out watches versus someone that's maybe worth like 5 million? Are they buying different sorts of jewelry? >> Yeah. >> Is there like like a a difference in terms of jewelry preferences that you notice? >> Yeah. I mean, listen, um, of course there's a difference in preferences. Uh, but for you, you know, you're distinctly asking a person with a couple of million what their taste is versus a person with vast amounts of money. >> Yeah. Like for example, vast amounts of money. Maybe they're doing something because they're actually passionate rather than like getting a crazy iced out. >> Yeah. There's not much of a passion. You know what I'm saying? You got more money. You're you want to show it off. You want, you know, you want to be at the casino and you want to do this and you that. It's mostly for for women. Okay. And signaling wealth or whatever. And it's also for a good look or whatever it might be. Um, but you know, that depends on on the individual. But they're looking for the status. So whether they have the 1 million the two if it's their first watch they might get a iced out this or a big bezel that but if it's their if they've been buying for a long time they're going to get that rare piece that's that says I know what the I'm doing the protect philippe whatever with the moon phase. >> How often do people come to you and not able to afford the jewelry or they're on a payment plan and they just charge you to a credit card and you know they can't afford this thing. >> Yeah. The average uh the average person it happens enough. It's not that they can't afford it. You know, they're buying something for $1,500 or $2,500. So, how can they not afford it? They have a steady job and can make a payments relatively they could afford it. And what they're buying, they're buying. If they're buying the right piece of jewelry, they're doing the right thing. You know, if you bought a piece of jewelry that was heavy in gold in the year 2004 when I started, even if you paid overpric, you know, the gold price was 350 an ounce. Now it's 3500 more or less. So you 10xed your money >> and if if you overpay double you 5x it or whatever. >> Yeah. >> So you can't lose on that. So some people are buying and getting played man and some people are not. Some people are over you know what what the question in the nature of the question. Of course some people are overcommitting themselves on they can't do. Some people are on drugs they can't quit. You know some people are buying to look like this. Some people are buying to look like that. And there is some millionaires that um scrge every dollar or millionaires or whatever and look like bums, but I I never really noticed them. And those are people with psychotic issues really. But still, they they spend their money somewhere. >> I saw this one video a long time ago of Michael Jackson walking through an antique shop, I think it was. And he's like, this and then uh yeah, I just remember watching this video and he just seemed to not care whatsoever about the price. Do you have buyers like that? What is your favorite type of buyer? Oh, that's the favorite type of buyer right there. >> And people do that. They walk into the shop and they're just like, "Oh, yeah, 10 grand." >> I had a guy that came in. >> Speaking of that, you might be wondering, what does the future hold for business? Because if you ask nine different experts, you're going to get 10 different answers from a bull market, a bare market. We're in a bubble. We're not in a bubble. Be very helpful to have a crystal ball at this point. 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Again, that guide is free for you at netswuite.com/istic. again, netswuite.com/istic with the link down below in the description. Thank you so much Netswuite for sponsoring this episode. And now, let's get back to the podcast. >> People do that. They walk into the shop and they're just like, "Oh yeah, 10 grand." >> I had a guy that came in. Okay, this guy, his father was uh selling um military equipment to Iraq with government contracts from the US. So he was manufacturing in Ukraine before long in a long long ago and that's was his father and um he was shipping it uh over there and just just milking money whatever and his father put him on a big allowance okay because something in the family not going to get into it put him on a big allowance guy came in bought three Rolexes for me gifted me one and the other one to another member of my staff and the other member of my staff and then he started giving out gold bars to the other me members of my staff. So, this is a customer that came in, bought three watches from me, and gifted them to me. Okay, that's my favorite customer, bro. >> Where is he now? >> He's chilling. He's chilling somewhere. He hit me up the other day. I mean, the the the his allowance went down or whatever. You know what I'm saying? He's he's more normal, more focused, but he was burning through. He was burning through a quarter million, half a million dollars a month, just having a good time. shorties in every state or in every city, you know, buying jewelry for them, going over there, seeing them, and just burning through money and just going full tilt. >> Do you think he was happier back then or happier now? >> I don't know. I mean, he w it wasn't particularly happiness. It was just, you know, like the Emperor Nero would be doing or something like that. He was just pushing it to the limit. How often do people >> I don't know how happy that makes you, man. walk into the shop and not even ask the price of things and they're just like, "Yeah, that I like that a lot. I'll buy that." >> Sometimes sometimes, you know, but I didn't I didn't build my business, sorry, I didn't build my business around luxury uh clients. I always, you know, again, I'm an immigrant from Azerbaian, you know, I didn't grow up around money. I didn't even know people had money. So, I had a mentality of value. I had a mentality of, you know, I want to sell this. And that was not good to build a jewelry business around. Now, I'm going to build a mentality, a jewelry brand around other things. And then I'm going to be able to charge and and push and attract the type of client. In order to do that, I need inventory. I need to be able to capitalize, right? You know, I got to make $7 million, $8 million worth of inventory. I need to get to 20 million, 25 million, deploy that properly, and then I'll have the inventory to attract the client that's going to just buy by. Doesn't happen all the time. I have normal clients that buy great jewelry that has a good value with a fair markup because that's what I adjusted my business to. The sucking for money is not my style. I'm not going to be he's got the money, he's got the watch, he's got this, he's got that. Built a jewelry business and you know what it is out there. The more I am uh act the way I'm acting now, the better that business goes. That's why it encourages this type of behavior. But I don't like to worship money, man. I don't like it. And even though I chose this business as a young person, the snobs that come in there or the snobbery like they I I never attract that type of customer that they want to be like, I got this or you know the guy that Chrome Hearts, he's got, you know, Yeah. Sure. There's some kid comes in that's spending his parents' money from Beijing. You know what I'm saying? and he's wearing the latest Chrome Hearts shirt and the latest Chrome Hearts this and he wants to get the thing that this and that. He's just trying to look for some status and he's playing that game. The game of I'm rich and I'm uh get the out of here is my take. Go deal with my sales guy and let him blow smoke up your That's the answer. Is there anyone you won't sell to? Um uh no, I'll sell to anybody who's, you know, um respectful and who is thoughtful. >> Have you noticed any difference in cultures that some negotiate harder than others or some are better negotiators than some people who never negotiate anything? >> Listen, I'm half Jewish. If I was full Jewish, I would have been way richer. You know what I'm saying? I'll tell you that much, bro. I got just enough half to get me, you know, uh uh to where I need to be. And if I had a little bit more, I would have had a different character, sure, but had more money. >> How how uh do you notice the variance of negotiation strategies amongst different cultures? >> Yeah. Well, listen, the negotiation strategies are going back to ancient Babylon. All right. You're going to the Diamond District and you're going over there. It's the same lines they used from long, long ago. You know, it's the same game over and over. But um um you know negotiation and strategies is based upon options, right? And some negotiator might be able to talk somebody in and get a better deal. But you know, for me, I'll get an offer over here, get an offer over there, and an offer over there. And then you're shopping around. Now, there's some people that are strategic and they could squeeze you without getting that offer, and they have that skill. That's not my particular skill. You know, I want to do business simply and plainly and and long-term. I don't want to sit here and bargain with you back and forth. I really don't. I feel like it's a waste of my time. >> So, what are the best ways to negotiate a good deal? >> What's the best way to negotiate a good deal is say this is all I have. That's what what I do. Say somebody like I was buying a gem at the gem show, >> you know, it's a emerald. The emeralds guy says 9,000. I look in my pocket, says, "Man, I got 6,500. You want it?" He's like, "No, it's too low." I'm like, "My bad. My bad, bro." I walk around. I go to the next guy. I look at the emerald over there. I go to the next I walk around. He's like, "Come, come, let's start something." You know, emerald cost 6,000. He don't want to make just 500. That's not worth it. So he's like on some no no but then he's like I'll take the 500 and I'll get to know this business and I'll start something. So to walk away or to say this is all I have. If you come in there like uh you got all the money and you got this then people are going to go whatever. But that works in that particular instant for me. You know it's like a little mind game. Well listen man I got 6,500 for you. Ah man. My bad bro. You know then and then you walk and you shop and you do and you this and you that. They'll take it. They'll take it and they'll make a little bit off of you if they like you. Okay? Because then like I'll give this guy You can't run a business with a with a a 10% markup. You know what I'm saying? Your job is to get a 100% markup. The other guy's job is to get a 10% markup. You meet each other 50/50, whatever. But they'll take the 10% because 10% is better than nothing. But you have to prove it in their mind that they're that 10% is better than nothing. and they don't feel like they're giving you something that you got away with. So, >> what are some of the biggest negotiating mistakes that people make, what would be Well, the biggest mistake I would make is I don't have the knowledge of the price. If you don't have a framework of the price, then you're just spewing numbers out back and forth. >> You know what I'm saying? But if you know the price and you know, you know, what is the negotiation, man? This ring I'm selling for $6,500. It cost me $4,000 to make. Will I take 6,000? Sure. You know what I'm saying? Will I take 5,000? You know, uh, if my cost is 4,000, why not? Thousand bucks in my pocket. But can I run a business by doing that? Not really. So, you know, now you have to buy this ring. What are you going to tell me? What are you going to do? How come the price of jewelry is so up in the air between pieces? Like, that could be six. Another piece could be eight. Visually, they look pretty similar. Yeah. >> Same with with gold chains or appendants. I I feel like the I see prices >> the price depends upon materials, gold, diamonds, >> and then labor. Okay. So, it's labor materials and um and that's pretty much it. You know, the design work, the 3D modeling is as well. Now, this ring might be prettier than the other ring. So, you could get that one for the same materials, but it'll just be and this one is this. But it that's the romance of the business. You know what I'm saying? Nobody needs any jewelry, you know. You get it because you want to adorn your body before it turns to dust. So you um and that's a game you want to play. You know what I'm saying? >> What do you think of gold as an investment? >> I think it's a good store of value. It's never really an investment, but it is an investment when they're printing as much money as they are. You know what I'm saying? because you have to account uh you know it's it's denominated in dollars and dollars are being uh printed on a scale of a trillion extra per year or whatever right the interest is a trillion or what have you so then it becomes an investment to some degree especially when you have these nefarious activities going on between China and this now Trump's got the balls to be able to you know steady the ship so to speak which I'm very impressed through the tariffs through everything else but when you get a idiot like Joe Biden or whoever a kazio Cortez in there. You can't give head to lower the deficit. You know what I'm saying? You're going to have to do serious and um they don't even have the comprehension to find out what's going on. And that will mean that the gold price will go up and then gold will be an investment. It will be the only way you could get some penicellin if the whole collapses and you have to rummage through the wreckage. You never know what can happen. Or you could just be better off buying the S&P 500. But the good thing about gold is you get to hold it in your hand. >> Yes, sir. >> Have you made a lot of money from appreciation of your inventory? >> Yes, it saved the day. >> What do you mean it saved the day? >> I mean, I've had pieces that I've made that that cost, you know, I manufacture $300,000 worth of and to scrap it certainly after you manufacture it' be 250, but the gold price went up from 2,000 to 3500. So now I could scrap it for 300 300 plus thousand dollar. So that that didn't sell I scrap and melt and get my money back which is amazing. You know man the people for gold did 10x in the last 20 years. >> Okay. So if you're running a jewelry store with gold chains it was the most profitable business you could have had cuz your inventory you bought $1 million worth of gold chains. If you didn't sell a single gold chain in your store, you had $10 million worth of gold chains. If you did sell them, you took the profit and reinvested, you had more. Not a lot of businesses where you open up a business filled with inventory and you didn't sell a single piece and 20 years later you're up 10x, you know. So that is but it's it's not a business people think about because they're not expecting uh you know um people to rob trillions of dollars on Afghanistan war or whatever. They don't understand. They don't comprehend how these evil forces that are really actually there. This the stealing of it and whatever else is actually out there. Man, why do you think that people on the street are so clueless about the price of gold? Those are my favorite videos when you go up on the street and you ask people how much something is worth. >> Yeah. >> And people are clueless. They have no idea what the value of gold is. >> That's not their everyday lives, man. >> But should people know at least what the price of gold is per ounce? A rough estimate because it's money. >> People should be like angels, but forget about what they should be doing. It's, you know, what they're knowing. And um, you know, money is a game and everybody's responsible for playing it smart. You know what you're doing with money. everything you're doing is thought out and thoughtful and I watch your videos and you know about this about that and um uh I I love it. So, and you play the money game and you give out the the advice to the money game as well. And if you listen to yourself, why don't they watch the ice coffee hour? Why don't they listen to Graham? Why not? Why are they sitting there watching to Cardi B shaker? Why are you sitting here and, you know, going to the strip club and twirling on a pole? Why aren't you studying? I mean, I tell you why. Because something's wrong. That's why >> I feel like should be taught in schools. >> Listen, man. A lot of things should be done, bro. It should be definitely taught in schools and we should track down the trillions of dollars that was stolen and we should do this and we should do that, but we're not in the world of what should be. you know, um, uh, we're responsible for our own lives and the lives of our family and the lives of our loved ones, the people, um, and that's that, you know, we don't really quite have a real society. This is not 1954. You know what I'm saying? This is a society where more or less every man for themselves. The government barely functions to me. And the less of it, the better. Um, and you know, in some community, you know, Elon Musk has a school for his kids and you know, his neighbors kids that's probably exactly what you imagine it to be. Why are we using chalkboards? Why can't there be just a touchcreen where the teacher has uh uh, you know, lesson plans that are already the best of the best to engage the children? Why are they sitting at desks that the same ones that were, you know, from 1933? Why aren't their desks have little basic touchcreens where they could just write notes and they could register their you know why not? Because the people that are running the board of education are that's why if they weren't they wouldn't be there. >> There should be classes about how to use chat GBT classes on how to negotiate and you had the students negotiate against each other. >> Here's what should be Graham should go run for office and implement what he's thinking. Is that what's going to happen? >> No. No. No, because I just tell people to watch it on YouTube. Realistically, YouTube is better. It's a better resource. So, you may as well learn on your own. >> And the real secret is is that you're responsible for your own. And this it's an arcane system. >> Everything you're talking about is just an arcane system. And anybody who believes in that they're going to go to school and go to college and that might work for them. I don't really know. But whether you're going to school or not, if you're not being responsible and learning on your own, you are playing yourself. You know what I'm saying? And you're giving your advantage away. And that's that. And you know, like if I had the tools, YouTube was barely out when I was a kid. I was just the internet and I did what I could with it. I started a business. But if I had the chat GPT and I had that and I had the energy I had back then, I would have really loved it because it was really the source of information. Like this chat GPT is it's got millions of dollars in value for anybody for any given moment for any given person. I'm extracting that money right now. I had a thing where I was uh using uh I put Grock on one phone, Chad GPT on the other, and I made Grock, have Chad GPT generate image after image after image. I put them in a shoe box together, and I come back, I'm about to drop that video when I edit it, and just been lazy. I come back and it'll have 30 new pieces of jewelry for me or what have you. >> You know what I'm saying? And there's two AIs talking to each other, forcing the one the other AI to generate images. So, there's value there. And um you know and listen we're all talking about the the education systems. It's because people are [ __ ] Graham. And um um and that and that's going to change in 5 years, in six years, you know, and as as all these AI guys say, we just anybody watching this, if they want to better their lives, which is the only thing that we could offer you as three people sitting here, they would have to get an an advantage on AI for the future cuz shit's going to change, right? Any advice for me in the jewelry business? You're a smart guy. Let's see how good you are at giving advice on your own iced coffee hour. >> I would say for the jewelry business, your social media is fantastic, >> right? >> I'd say that you could probably teach other people how to do that. I think you could expand your own business quite a bit because of of that. >> I don't know if you want to get in the retail business. To me, that doesn't sound as exciting of dealing with so many employees and people, >> right? Um, I like the customization aspect of it because you could you could charge a premium, but I also acknowledge that you don't want to spend your time designing one thing for one person, >> right? >> I would almost argue, man, that there there's a benefit to like >> I I'm seeing less people my own age and younger, >> right, >> get into jewelry and and watches to some degree. Yes. >> Uh, and they're more into like digital assets like Bitcoin and crypto. >> Interesting. So, I would argue that maybe uh Bitcoin over the next 20 to 30 years is going to take some market share away from the people who buy gold as a store of value. There's always going to be some of it. >> Yeah. >> But I would almost argue like, hey, good news, maybe take like 10% of your business and just Bitcoin it, >> right? You love that Bitcoin, huh? >> I do. >> Just But you know what? If it goes to zero, 10% of your business, it's like someone's stealing from you. Fine. But like if it hits, I think there's such a >> Well, listen, what do you >> lopsided opportunity? It's like >> it's a $100,000. >> Yeah. >> Okay. It's a trillion dollar market capitalization. How much more can it hit? You're going to put in another >> Yeah, but gold's 20 trillion. You don't think it can hit? >> I'm not I'm not thinking it. I'm not It's not there to hit. It's not there to hit. It's It's If everything collapses or there's serious problems with the dollar, it's there for that to to spring you to the next move. It's there to keep you safe. That's it. It's not there to hit. It's just there that you know what I'm saying? You had your money, you saved it, and now you know 10 years have passed by and you could buy something. You know, you didn't depreciate your capital and that's that. It's a go between between moves. It's perfect for me because I could stock gold chains. If I don't sell them, I win. But for you to have a kilo in the safe sitting there doing nothing is not the best thing in the world. you're much better off buying Taiwan semiconductor over the course 10 next 10 years or something like that something that manufactures something but as far as Bitcoin is concerned you know it's not like we're arguing I'm saying gold is better I couldn't give a less about gold or any of this you know for me it's it's just a game to get where I want you know what do we want what you're doing a beautiful home a beautiful life and stability that's all you really should be shooting for and you could do that a thousand different ways now granted It's much better to win. But Bitcoin's got a trillion dollar market capitalization, $100,000. That means you need a whole another trillion dollars to make it 150, right? >> Not necessarily. It's whatever the tradable value is right now. So, it could be a like you could inject 100 million into Bitcoin and have that spike the price if if people are not selling, right? >> And fewer people are selling. So, you don't need actually a trillion dollars to go into bit. If you had another trillion invested in Bitcoin, that could shoot up the price 10x, >> right? That could shoot it up. My thought is that there's an asymmetric reward with Bitcoin that let's say you buy at $100,000, it could go to zero. There's a chance it goes to nothing and you lose $100,000. I'd say there's a higher chance or even an equal chance, let's just say, of going to a million. So, you have a 50/50. Let's hypothetically, you have a 50/50 going to zero as you do a million dollars. So, to me, I'd take that bet with a small amount that I'm prepared to lose because if it's a 50/50, I'm cool losing it. >> But, um, yeah. Well, listen that the way you explain it, sure, you can do that. I'm not into losing. Personally, I don't want to even take a small bet, you know, um on that end. I don't want to take a 10% or 5% chance then on on on any of that. I prefer to buy something like a Warren Buffett style where it's uh actually producing something that's in demand and a profitable business. You know, if I'm going to buy a vending machine for $1,000 and people uh, you know, buy 100 bucks worth of soda per day and to restock it cost this much and the soda cost that much and you're making $25 a day, you know, then I know that that vending machine is going to make me back uh the money and be profitable after I pay off the $1,000 with the $25 profit per day after x amount of days or whatever. That's how I look at it. You know, I'm looking at if I want to make money right now and I want to I want to be good and I want to 10x. I'm looking at the next Nvidia semiconductor. It could be AMD. They're doing something. You could ask your Chad GPT and your research. Taiwan semiconductor. They're going over here. Trade war is cooling off. China's backing away in a little bit. That means that, you know, they're not going to do all that Taiwan and this and that. Now, you could 10x your money nice and safe there. And that's the way I would go about it if I didn't have a jewelry business to buy a bunch of gold chains with. And the way I explain to people is you buy your Bitcoin and then when you're done in cyerspace, you know, rubbing pixie dust, you know what I'm saying? And you want to actually own something, then you buy yourself a watch with your Bitcoin and you buy yourself a gold chain around your neck because your neck is real and the chain is real. The Bitcoin is just uh uh you know out there. It gets you the dollars. you you get the Bitcoin to get to the dollar so you could buy this or you could spend the Bitcoin on it, whatever. You want the actual that exists. You don't want a computer chugging away somewhere processing. >> But what I do like it, it's a global store of value where around the world people people attribute $100,000 to this Bitcoin. Yes. >> And so you could take it with you anywhere. You could transfer it anywhere. And the more people buy into it, >> obviously the higher the price. You could say that with gold, too. Or you could say that with stocks, but I could just see a scenario where Bitcoin captures 25% of the gold market. >> Yeah. >> Or companies take 10% of their extra cash and just buy Bitcoin with it instead of holding it in dollars. >> Yeah. >> And I think that's enough to boost the price, >> right? Um Yeah. >> But it could but it could also go to zero. 100%. >> No, that could happen. >> I don't think so. But that could happen. Listen, if gold goes to zero, I'll buy all of it, bro. Yeah. You know what I'm saying? It's not even a problem. You know, I'll have a gold castle and you could visit it and you pay a ticket in Bitcoin to come see it. >> You lose 20 grand every time you polish it. >> We don't know what's going to happen with this Bitcoin and AI. And uh that's that. You're a proponent of it. You love it. Why is Bitcoin any better than all the other Why is Bitcoin any better than Hawkercoin? Will we see? Listen, the the real question is, will we ever see a day when everyone's rushing for the door? Might not. We might. Because when people are rushing for the door, let's say people are dumping Amazon. >> Mhm. >> If Amazon is a trillion dollar market cap, you dump Amazon, I'll jump in there. I'll melt I'll sell my whole business and buy Amazon because I know Amazon is Amazon. But if people start rushing for the door at Bitcoin, it might also have that effect. It might be somebody says, "I'll buy all of it." And it seems like that cuz I could have never expected it go to be solid at 100K. Solid at 100K. So, God bless all those people and whatever they're doing and how they're doing it. My estimate is that a new technology is going to come around. This is not this is not 2011. new technologies come gonna come come around and um uh uh really give Bitcoin a run for its money and then people might lose out and if it's me and you and it's 10% to some and we don't get the next Lambo or whatever, it's not a big deal. But if it's somebody with their life's earnings, they're going to be devastated. So you have to play it way smarter. I would suggest a semiconductor stock or even the Teslas, whoever's making robots, whoever's making semiconductors, that's the one who's gonna 10x or 50x over the next 10, 15 years. That's my idea. >> Where do you get your gold from? >> I get my gold from the casting company. When I cast it, I just pay the bill. So, they make me the casting. Or I get it from buantrading LLC.com is a friend of mine. is uh Kahan uh or Isaac is his name. Isaac Kahan or I don't know what his last I think his last name is Kahan. His pops was in the business for a long time. He's down in the basement and he's down in the basement. You know why? Because can't keep all that metal upstairs. Go right through the floor. >> Oh, no way. Is that Abby? >> Mad silver, mad gold, and a safe. Go down there and he knows what it is. You know what I'm saying? Again, he knows who's playing around, who's not. you know, I pick up my kilos and I uh cast them and I do my thing. >> What's the cheapest way to buy gold? Like, is it people that bring it into your shop and then you're able to melt it down and you're able to buy it like even under market price for gold because you isolate the actual gold from like a 14 karat composite? >> Absolutely. You buy 10% under. >> What about those commercials that you see like gold? >> That was a great business that those people on an island right now. So, I've wanted to buy like a gold chain for a long time. Not like anything fancy, but just something like a gold chain. I think I'm more of a gold guy than a silver guy. And I think it' be fun. The problem is I'll go to a jewelry store and I was just in Japan and I was looking at gold necklaces in Japan and I can't really tell the difference between, you know, a necklace here and a necklace there >> and I don't know like how much of a premium I should be paying. Like what would be the best way to just buy like a cheap standard gold necklace? Uh, let's break down the secret for the educated crowd watching this. Okay. Gold is how much per ounce? >> 35. >> How much is How many How many grams in a in a in an ounce? >> 30 something. >> 31. >> Yeah. >> Okay. So, let's divide. So, let's make it easy. Let's pretend gold is >> 3100. And the gold and 31 gram per in an ounce. It's $100 per gram. >> Now, 14 karat gold is diluted to what? >> 60 >> 58%. So what's 58 out of 100? It's $58. >> So that's the cost of the metal. >> $58 per gram. >> Okay. So if someone you put it on a scale and if they're charging you 75, you say got to get this labor. The guy's got to make money. Okay. So if it, you know, if it weighs a certain amount and he's charging you 75 per gram, you say, "Listen, I want to pay 73. I want to pay 70." He would say, you know, I'll go what's the, you know, 50 I'll give you $68 a gram and this and that. Or you guys might say, I don't sell per gram. You you know, um, but you'll know the value of it because per ounce per gram, then dilute it to the carrot. Um, which is 14K was most likely be the case. That will leave you to a certain gram price. And then there's the factory that made it has to charge labor to the guy who bought who uh to the vendor. And the vendor has to make a markup, pay the rent, pay the employees, and um you know buy wifey and whatever a gift that she might want. So he needs money and he's going to if it's a light chain, it might be $150 a gram. If it's a heavy chain, it might be $59 a gram. And that's it. You put it on a scale and you do the math. How do you tell if it's real? Like, let's just say it's tungsten that's that's coated in gold, right? >> Like, how often does that come around? >> Um, not often, man. I mean, that's some bump. You know what I'm saying? If someone plays with you on that, it's rep jewelry business reputation. >> You know what I'm saying? Like, that's why I do all the that I do. I have to raise these kids that are watching my videos on a reputation that when they think, you know, right? When you think uh electronic toy, you might think Mark Robber or something like that or you think chocolate. Who do you think of? Beast. You got to think gold. Got to come up. That's my job. I got to raise these kids to reputation so they don't have to worry about tungsten when they come into my shop. >> Cuz why why go to a shop over there when you're going to have to worry about tungsten over here? >> You give away a lot of gold on your channel. >> Yeah, I gave away I'm going to give away more. >> How do the taxes work with something like that? >> Don't ask me. You don't hand out 1099s afterwards. >> Yeah. No, I don't like give them the gold, man. I mean, listen. You want to arrest me and me and Guantanamo Bay because I gave somebody a gold bar? Go ahead. At this point, >> the IRS is going to see write offs though and it's going to say, "Okay, who received this, right?" >> And you say, "Well, I don't have >> I don't I don't even write, you know, maybe I write it off or it's a it's a marketing expense or something like that." You know what I'm saying? >> Listen, it is what it is, man. Yo, this country's got trillions of dollars leaking out of its Let me When once you handle that, come after me in the gold bar I gave on 42nd Street. What's the most expensive thing you given away? Finding the right person to hire can feel like searching for a needle in a hay stack. You will scroll through endless resumes and still always come up short on the right fit. But that is not with our sponsor, Zip Recruiter. Zip Recruiter actually finds the right candidates for you and fast. As soon as you post your job, their powerful smart matching technology starts working behind the scenes, zeroing in on the best qualified people to fit your role. You could even use their invite to apply feature to directly reach out to top candidates and encourage them to apply sooner. It just takes a lot of the guesswork and waiting out of the process. And here's the crazy part. Four out of five employers who post on Zip Recruiter get a quality candidate in the first day. 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You could filter by insurance, location, medical specialty, and you could even read verified patient reviews so you know exactly what you're walking into. And then once you find the right doctor, you could see their real-time availability and instantly book an appointment for the time slot that works best with you. >> And appointments made through ZDOC happen fast, typically within just 24 to 72 hours of booking. And you can even score sameday appointments. So stop putting off those doctor's appointments and go to zoddock.com/istic to find and instantly book a toprated doctor today. That is zoocdocc.com/istic.doc.com/icistic. We also have a link down below in the description. You can just click it there. Thank you so much to Zachdoc for sponsoring this episode. Um, the most expensive thing I've given away, it's just a the individual ounces would probably be the most ones that I remember or like a gold chain I might have gave away. I still got to do a Rolex giveaway. The thing is that's a game and I want to might make my business about something and do the give back and be a human being. You know, going back to the original point, money, money, money. I've got more. I've got more. I've got more. That's not why we're here on planet Earth. That's not what we're living our lives. That's how we're being tested for who we really are. You know, is it we're going to take those uh um uh 30 pieces of silver and say, you know, you know, and betray somebody uh uh with a kiss or not? You know what I'm saying? Does a strong gold market help your business? Like the higher the price is, I think it might change the business and it might help the business. Well, it proves me right. I have said all this about gold because I wanted people to buy in, buy in, buy in. Now, I'm going to tell them, well, listen, >> you know, you could have bought Bitcoin at a cent. You could have bought this, but just buying a gold chain and wearing it and increasing your money is an amazing thing. You bought it and now you melt it and you get your money back. So, so I did that to establish myself as a person who told you the future and the past and that's that. Now that um the gold price is what it is and if it goes any higher then gold is going to be an extremely luxury product. It used to be $14 a gram now it's 140. That's two different numbers my friend. You know what I'm saying? It's like a Ferrari is $1 150,000. Now it's 1.5 million. You bought a Ferrari in 2004 and now that same Ferrari is, you know, 1.4 million rather than 140,000. It's two different price ranges. It went from supercar to hypercar and that's what gold is doing. And then um it could be a you know like I tell people and I tell a lot of people that how was gold working in back in the day. You remember Cortez, you know, he came over across one of the first few people to come over from Spain across the Atlantic lands. A whole new civilization is there. Different people, whole alien language, alien people never heard from, never seen. The most exotic you ever seen. And what he say he gets Montazuma and he's like, "Fill the room with gold and I'll let you go. I don't give a [ __ ] about the civilization." Imagine you go to an alien planet right now that you've never seen. It's the equivalent, a whole new civilization and you're coming over there and you're asking where's the gold. It's kind of crazy. But he didn't give a [ __ ] about the alien civilization and their culture and their technology and nothing. He just wanted to go back to France, get the gold for the people that financed the buy his villa and sit back and relax. And that's how gold used to be. It used to be everything, but it's not anymore. And will it be again is the only question that we have to answer in our lives. You know what I'm saying? As far as gold is concerned. If it's going to be a decoration and it's going to go up in price and I'll sell you some more of it. That's great. It's a beautiful yellow shiny metal. Fantastic. You know what I'm saying? You could hold it in your hands and you could scrap it and you could do this. That's all great. Well, will it be the accounting system for the world of who has and who does not have is a very interesting question because it's gold is about trust. Okay, you can you trust the federal government? Can't >> no, they're in charge of the money. And this is the story of our lives. But the story of our our of the late right the gold reserve went off. goldback dollar went away. >> 1971 >> 1971 whatever 1971 1970s >> the story of uh the late 20th century and the early 21st century is can you trust them not to print and steal? So what do you think this is going to be doing to the price of gold over the next 5 to 10 years? >> Um you see gold eventually hitting 5,000 an ounce 10,000 >> eventually. Yeah. You know what I'm saying? I hope not man. And I I mean probably it's going to sit it might dip back down to 2,800 now the the the war is over. >> Uh you know um but it's probably going to sit in that range for another 5 10 years maybe. That all depends man. If they drop the bomb tomorrow bro it's going to be 5,000 tomorrow. It's if you watch the gold price it's always about what's actually happening because you don't want no gold in the safe and you got to travel and you want to wire some money. But when the system is in jeopardy, and it might be, that's when you need the gold. You know what I'm saying? I'm not telling you to get gold. It's like some gold jerk. Ah, get gold. I'm the gold guy. He's the Bitcoin guy. He's the real estate guy. We got to buy what I say. Get the out of here, man. You buy yourself a gold chain, is going to pay for itself in time. That's cool. So, that's all gold is doing for you, and that's great. However, if the wars break out and they steal too greedily and the comes down, that's when it comes into play because then you're going to need a currency system that's backed by something and measured by something. And the question then becomes is not how many dollars you have, is how many grams you have. How much gold should the average person get? >> How much gold should the average person get? I mean, at least an ounce. you could afford an ounce, but buying it now at 3,000 is not really going to do, you know, much for you. You know what I'm saying? I was saying this for a long, long time because I knew it was going to come to this. >> And why didn't more people listen to you? >> Because I say it in a way that, you know, it's not a popular thing, you know, and I say it in a way that I'm not asking you to go buy gold and get it. I'm telling you that when it goes up, you realize what I was saying was right. That's why I'm doing it. I'm not giving people gold in the street because you know I'm saying I'm like you don't know how to value what the in front of you. That's the video I'm making here. Take this gold ounce. Nah, I rather go work for like a slave somewhere. I'm all right. It shows it's so wake people up. What does that teach you about people when you see them walk away like that? You're giving them an ounce of gold. >> I don't blame them, but they it's hard for them to think that a person would be walking to them and giving them something. Do they think it's a scam? >> Yes, they think it's a scam and they think I'm going to give it to them and ask for something or play with them or this or that. And I understand that, but you're judging incorrectly in that circumstance. So, that's kind of a psychological game I like to play with people. Oh, you didn't buy a gold chain that paid for itself? Well, too late. Now you can wait another 10, 20 years. Sorry. I don't give a You know what I'm saying? Jewelry luxury company is not supposed to be built around value. A luxury company is not supposed to be built around anything, but you can't have it. So, I'm switching my from I told you to get it to take care of you cuz I did have a heart and I did care about the people and I did want you to do well, but you didn't listen. Now, you can't have it. Sorry. I I gave you love. You threw it away. Now, this is what you got. And now it's a luxury company. Real deal. But I'm going to make manufactured jewelry, engagement rings, and so on and so forth. Make my money and do what I got to do. And I got to switch my style up on that end. And I got to, you know, float through it as people get to know me because my my thing is I don't want to hurt you. I don't I want to wake your mind up. That's it. You know, everybody could be aware and awake. I don't know how you how it happened for you or your parents raised you a certain way or uh something. You know what I'm saying? But you're making moves. I'm making moves. you know, whatever. Speaking of scams, what is your worst story with fake jewelry? I don't really even have that many stories with fake jewelry, man. You know what I'm saying? I really really ever been involved in it. No one's ever given it to me. I've never given it to anybody. I've had bank fraud and crazy go down. You know, somebody took their church's bank account and wired me money and I sent them jewelry, then they froze my and and they did this and they did that and I've been through that. I must have lost a half a million to a million in fraud. probably a million or more actually now that I think about it. You know, I've been in business for 21 years, my friend. And my annual sales are $40 million plus. You're talking about, you know, uh 20 time 40 is 800. >> Mhm. >> And you know, in the earlier years was less. So you average it out three to 400 million in sales. So I should have had a profit of a a gross profit of, you know, 50 million, 60 million. And I only got a seven, you know. So, where' the rest of it go, bro? >> Now, switching from that, why have watches gained a lot of popularity over the last few years? And what do you think the best watch is for someone to buy? >> Are looking at them, that's why. You know what I'm saying? Women are looking at the watch and they're judging you for it. They're glancing at it 100%. I've asked them, they say it. So, it's a status symbol. And women are attracted to wealth and they're attracted to status. It's just the way they are. And for a man, this is the whole this is nature's little game. You know, nature gets you to, you know, you you play Super Mario and what's at the end at the dungeon after you beat the Bowser. It's the princess. You know what I'm saying? If it was another Nintendo game, you probably It was a Pokemon card. You know what I'm saying? You wouldn't be jumping through all those platforms, dodging the fireballs, bro. You're doing it for a reason. For that peach. You know what I'm saying? So this is this is the game and it is a status symbol uh that men can use and um now with social media it's really amplified because you had a protective before and some bimbo ain't going to know that's a protect she don't know so she don't look at she needs to see an iced out watch for for for before she's sitting there thinking like you you're the man But um uh now hey they know which watch is which and what's worth money and this and that and it turned into a way sexier thing to have. >> So what's the best watch for someone to buy? >> PC Philippe. A PC is an amazing state. It's Ottomar PC. Rolex is new money is you first got money and you're buying yourself a Rolex. But Otmar and PC is the one that they're going to know. >> What if you're on a budget? Let let's go with different tiers. You have 5,000, 10,000, 20,000, 50,000, 100,000. Each price point, your number one watch. >> 5,000,000. What do you 5,000? 5,000. Um, that's a tough one, man, because there's not a lot of $5,000 watch is basically you saying, "Oh, all I got is 5,000 bucks." >> I'd say a two-tone Datejust. >> Yeah. A used one. >> Yes. >> An old one. Yeah. >> I'm talking just that's your budget. You could buy anything you want. >> Yeah. Yeah. That would be good. A two-tone Datejust. A used two-tone Datejust. You know, but you're talking about something from the '9s. >> Yes. >> And um that's a that's a decent watch. There's better watches. This is a a question for Roman Sharf. You know who Roman Sharf is? Uh luxury watches are. He knows watches like crazy. And he knows how to uh get something dope. But if you're getting a status, you're going to have to get a Rolex for the five and a Rolex for the 10. What Rolex do you buy for 10? It's a newer day. or you know like if you want once you get out of the 10ens and you're 10 to 15 and stuff like that you going to get the Hulk right you know the exclusive one that's when you're actually a watch connoisseur cuz when you're watching a Hulk when you're wearing a Hulk or a Pepsi or a Batman >> you don't know if that's your Sunday watch or your only watch. >> You know what I'm saying? So now you're sitting there cuz those are like you know I'm wearing my Hulk today and my um yacht master when I go out and when I'm wearing a suit I'm wearing my steel protect whatever 5980 whatever it might be. >> Um so that's the way that kind of game works. So those are the watches that are the best status symbols that are really classy. What about $25,000 now? $25,000. Now let's think about that. 25,000. That would probably be, you know, something along the lines of a Yacht Master two-tone. That's a big boy watch. Okay. You're dropping 25,000. That means your car is at least 100,000 and your crib is whatever. You know what I'm saying? That's a big boy watch. Yeah. >> 50,000. >> You're an Otmar, a steel automar blue face type deal. Or, you know, a gold one, two tones. You know, those are those are Yeah. You're a bigger boy. 100%. That's what it says. >> Yeah. >> Even me, a customer walks through the door and they got the right watch on, I'm like, "Yes, sir. How can I help you?" >> You know, >> and what about $100,000? >> That would be a gold Otar, gold PC, you know what I'm saying? The best the the sickest watch. And another one of my boys, a shout out. He's a YouTuber. Um, Rissa and Quan, a Quan, you know what I'm saying? He knows how to This is They're a couple. They They're YouTubing. They got a couple of million subs and they have kids and they're, you know, a couple and they're a couple YouTubing, whatever. you know, they go to the best hotel or they do this and they stay there and they make a video about that and he likes the best. So, he'll get the two-tone Mayback. His crib will be something really status like it's done correct. It's done. It's there. You could see the the mind that he put into it, you know, and that's what you want for a watch. When you walk around, when you walk through the through the door and you met me, I'm like, "Oh, there's Graham." And you walk into his crib and they're like, "Oh, there's Graham." You know, and that's the experience that you want to communicate. And the skeleton face AP rose gold is what Quan bought. It was 150. >> H. >> Okay. But that skeleton face is a exclusive, discontinued, limited, did his research type. >> Yeah. >> What do you think is the worst watch for someone to buy? Um, you know, that's a great question because, you know, I'd say kind of like that two-tone old ass Rolex is, unless you're in a strip club, you know, in Connecticut, that watch ain't going to impress nobody, man. So, you might as well as well get yourself some Gucci and put some diamonds in it or, you know, Apple watch or some or you could customize some other. I really wouldn't want to buy that. >> How often do you see people flexing with fake watches? >> Not that often, but not that few times either. You know what I'm saying? people who have status. They might be I'm not going to name their names, but they have a high status, but they can't get the high status watch. So, they might wear a fake one. You know what I'm saying? >> How would you tell? Cuz some of the fakes I've seen are so accurate. They're so good. And I love watching those YouTube videos where they break down the real versus fakes. >> Yeah. You know, that's how you do it. >> Indistinguishable, though. You have to get behind it with like a >> Yes. Yeah. That that that happens, right? That happens. And how do I tell? I don't. But my friend knows because they know what the fakes are doing cuz they know the fake market. You know, they know that the dial color is off. It's like it's really the colors. You know what I'm saying? Like the color is not really there or something is not really there. But you how do you know? You have experience with it every single day. What do you think are some of the most overpriced luxury brands? Stuff that people continue to buy, but you don't think it's worth it at all. I mean, all of them are overpriced, per se, but that's the whole point of the brand is that it's overpriced. You know, I could tell you Chrome Hearts, you know, you bought you bought a hoodie for $1,000, but that's what you you shop there for. You're saying that if you're wearing a Chrome Hearts hoodie, you're saying to the chick, I could take you on vacation. We could go get on a plane and I'll take you to Mikos or whatever. That's what you're saying. So, it's overpriced. It the whole point is it's overpriced. You know what I'm saying? That's the whole point is to say I have money to burn. So, the more overpriced it is, but it's the game. You don't want to be overpriced, but again, thinking from a value perspective on luxury is a mistake. This really is. >> And what about lab grown versus real diamonds? >> How do you even tell the difference? >> Um, >> for most people, is it never just worth it to get real diamonds? Just go lab grown. >> Um, no. I mean, lab grown again is going to be Listen, uh, this these are all lab, but um, in natural this ring would be about 25,000. In lab, it's about six. Okay? Because I don't want to sit here and buy Asher cuts and I'll set them upside down for this ring. You know what I'm saying? I really don't. I'll just buy it in lab and it'll really do the business and it's uh and it's really really nice. And then I'll move on to the next ring because in natural, do you really want to buy this exact ring for 20 $25,000? Not really. $6,000, $7,000, it's a pretty beautiful piece of jewelry. Okay. If you have, you know, you're not going to walk out of here and then another guy has got this ring on. Not going to happen, >> okay? It's just nobody makes it. Nobody sets stones like this upside down. It's a unique item. And if you want that uniqueness and you've had it all, you get it. But in natural, sure, I'll make it for you natural. What's the advantage to going with a natural diamond? >> I mean, the advantage is that um it's it's still a rare gem. They're both diamonds, but one is a gem, one is not. One is made in a lab and could be in infinite quantity and the other is made in the ground. Right? Let's say the year is 2045 and 3D printers have gotten so advanced that you could get yourself a classic Ferrari. You know, like the old ones that >> amazing. There's the one that's in Jay Leno's garage. Well, he doesn't have Ferraris, but whatever. You get the idea. There's the one that's in Jay Leno's garage that was manufactured in 1972. And there's the one that's 3D printed yesterday. They're both exactly the same on a molecular level. But the one that was built by Ferrari in 1972 has something more than the 3D printed one. >> Yeah. But let's say you don't have any of like the documents to go along with it. How do you tell if you have two diamonds side by side? One's real, one's lab. >> It's becoming harder to tell, but um uh natural diamonds have a little nitrogen inside of them and other elements that are not present in the lab diamonds. So, um there's gases like trapped in the natural process versus So, there will be always a difference between what the hell is happening in the earth's mantle to what the hell is happening in a uh laboratory. But the future of diamonds will always in the end up being industrial. You know, if you had a diamond engine, you can run it to 10 million miles. Yeah. >> Because the frictionless, it doesn't corrode. >> So, if someone's getting engaged, do you recommend >> I recommend a gemstone. If that's if you have money, if you if you have a good girl and she wants to have a big rock and look good, you get yourself a lab ring and you do it like I did it with this ring. You make something beautiful and unique that you can't make any which way and she'll blow everybody away with that. Or you could go get her, if you have the budget, you get her a natural gemstone, a natural diamond that's GIA certified or what have you. But if you spend $35,000 on a ring and then her girl walks in with a $3,500 ring that looks even bigger and better, it's going to have a problem on the the market and the experience. So, the society is figuring that out right now. Speaking of women, yes. What have you noticed to be the most effective ways of like getting her attention? Like the right kinds of women? Do you think like you were saying earlier how you first kind of quartered that one girl, she went into the store and you were treating her as though she was like a normal person rather than through like this lens of her being a beautiful girl where everyone white glove services her. What are the actual best ways that you can try to to get that attention? >> Well, it came to that girl. She's been everywhere and done everything. So, she's not impressed by money at all, you know. So, she was >> Did you know that going into it? Was it strategy? >> No, I didn't know. I didn't have no strategy. I just She started talking and I just, you know, I was like, "I'm not letting you sit here." And is a woman might try to dominate a man in the initial conversation like, "Hold this for me. Get the out of here. You can't, you know, she's trying to see if you're submissive or dominant." So, as soon as she even tests you, you got to be like, you know, she's waiting for you to to go like this. So that was that worked in that particular instance and that will all that will always be the case for me. I don't let any woman dominate me because they try, you know, they want to. >> What are other ways they test that? Like, hold this for me. If a woman asked me, "Hey, hold my purse." I'd be like, "Yeah, sure." You know? >> Yeah. Well, listen, you could do that and she might be a good girl and she might not be trying to dominate nothing, but she usually I'm like, you know, she's doing it for a reason. You know, you ignoring her or whatever might be a big deal. Then I had a chick the other day. She's like, we took a picture together. Then she's like swiping through my phone and she sees me. You know, I just met I took her out a date. She's swiping through my phone while I'm driving and she sees me with another girl and that turns her on. It makes her want to compete because there's a paradox. Okay, a woman is testing you for your manhood. Okay, that's what she is. That's what the whole point of a woman is. It's like you're coming too close. I'm going to, you know, or you're standing too far, I'm going to do this. She's testing you for balance. And that's how their uh sensory apparatus kind of works. And from my experience, so um for when it comes to it's a game, you know what I'm saying? Like she you do this too much, she's going to be like, "Oh, this guy's doing that. You do that too little, oh, this guy's doing this." So you have to find the balance of being uh not holding her but then opening up the door for her but then doing this but not doing that but then that not doing this and eventually she gets swooned and with enough time and then she's like you know that's that's the courting um um um you know process sounds like a lot of work like a lot of thought you can't just because a woman doesn't want to go oh yeah you got this well here you go you know what I'm saying she don't want to do that >> then you uh uh you know and then you the baby comes out and there's a problem and you're like I don't know what to do. You know what I'm saying? It's genetic. The ones that if the women that chose the wrong guy, their line was done. They want the guy that's not too aggressive but not too this, not too that, but not too this. And you have to as a young man, I didn't know this. You know, if you're a practical thinker, you're going to have a problem because it's not a practical thing. It's a completely different style of thinking. Take a look at Jeff Bezos. You know what I'm saying? This guy's got the richest in the world and he's got this chick there that's for faces like this. You know what I'm saying? And you could do better than that, Jeff. But you're a logical thinker. That's the problem. You know what I'm saying? You're thinking logically and you're dealing with a woman who's playing a different game. >> So, you're saying if he did not think logically, he would get someone who's more attractive. >> If you turn, you have to turn your brain off and you have to go into a different dimension. to to uh use a woman because you know to to be able to get there because it's a different type of courtship. Yeah. You know that you know Jeff Basil is like well what's the way the best way to start an internet company? Well, I'll start with books because their titles are easy to search. You can buy them for cheap. They're easy to store. They don't they they they're stolen less frequently and you could ship them easy. So that's a great way to start a business. Well, woman's not thinking like that. You know, woman's thinking in a more emotional sense or in more this. He's super active in a one sense and deficient in another. That's why he's got this chick. >> You know what I'm saying? Where he could have a way better, you know, or 10 of them, a hundred of them. But if you're going to bring them on a yacht >> and you're going to talk to them directly and look them in their eyes and answer their questions, they're going to think you're a sucker. You have to make them compete. Give this one a little bit of attention and then as soon as she gets comfortable, give that one a little bit of attention. And they say so you're a smarter girl than that. Oh yeah. And that's what drives them crazy because it's a different dynamic. And if you study it from a logical perspective, you will be able to have the same advantage as you would in Amazon. But if you study it if I like you and I'd like you to be my girlfriend, forget it. You're I think that's a way to court a girl that's not looking for a life partner. >> Correct. >> I think if it's a girl that is like she's long-term oriented and she's logic and she's like, I need to find someone right now and I want to settle down with That's a wonderful girl you're describing. >> Okay. So, you're saying but like maybe the more Miami type, maybe some New York type, maybe some California, like LA type. That's kind of you need to be a little more play the culture of like the, you know, of the dating market in that area. >> If you want a bad and you want to sit here and live the Mac life where you grab her and you have money and you take her on a trip and you're having your sex, let's let's call it what it is, sexual fantasies that you've been dreaming of, you're going to have to play a different game. If you want a life partner, then um uh you know, that's a whole different game and it should be straightforward. But even that girl, if you say the wrong things to her, she's going to get turned off or whatever. There a a woman is a measurement of manhood, right? A woman doesn't want to be a man's mommy. Okay? Man is looking for mom and um woman is looking for dad. She wants somebody who's going to control her, tell her what to do, and she's confident in that and protect her and give her that and she's measuring you for it. And if you're going to come at her as a young man and you're going to be looking for your emotional support that makes you feel good that you know if you hit your head and you go to your girl and you, you know, you feel better. She don't want to provide that. She don't want to be a provider of that. She would love to play that role, but she don't want to provide that, man. She doesn't want to be some shoulder for you to cry on because the world is hard, bro. She wants you to be like, "Oh, this guy handled the world and now, you know, I'm I'm safe." But you have what you want. She has what, you know, she wants her. And you got to find a compromise and a happy medium. But on the emotional sense, you have to know how to be able to project uh what she wants to get her to even get the chance to get her to know who you are. As an immigrant, how do you feel when people say that it's hard in America? It is hard in America in a sense because it's not hard anywhere and it's not easy anywhere because it's all relative to what you experience in the world, you know, but it's obviously not particularly hard in America, but just coming out of that is much it's it's just more advantageous. So, immigrants come here and they're used to a certain level of stress and strain and that same stress and strain that they're accustomed to is way more productive in this society. So that that works out real well if you're an immigrant coming from there. If you're if you're amazing, you know, um at catching food in, you know, the Serengeti where it's a difficult environment, then or and you're living in that then when you go to an easy environment, it's going to be more advantageous. But if the people that are used to it, yeah, doesn't bother you when you see people who've grown up in America and they're just like, you know what, it's too hard out there. I can't get ahead. It doesn't bother me because I'm competing against those people and I'm just going to run ahead of them uh and and be better off. That's on them. >> You know what I'm saying? And it doesn't happen didn't happen to you and it didn't happen to you or whatever it might be. You guys are on track to some. So, uh that's on them. You know, in some cases they might be right. It might not be worth breaking your back and sweating for all this. Just sit back and relax, you know, pop a pill. So, I think also you were early. Pop a pill. You were early when it came to eBay. You saw the vision of that. >> I would say you were early in the jewelry industry overall to go through social media. What do you think is next? >> AI, man. You know that is I'm already pulling 100 $200,000 worth of value out of out of here. I'll show you right now. >> Because I know my competitors ain't going to be watching this podcast. These idiots. >> You know what I'm saying? And but I'll show you something really cool. And uh you see this. All right. I So maybe the camera could see it a little bit. These are all AI generated pieces. Wow. >> I'll be sitting at home. I'll be smoking my vape and I will be um uh sitting there and I'll be saying make another, make another, make another, make another. I'll just have hundreds of designs if you prompt it properly. So, the amount of design work I was able to pull out of the phone is was 10 years ago or 5 years ago, it would have cost 2, three, four, $500,000. >> And now the AI is going to make the 3D model. So if if if I'm the first one to implement the the the AI for my business, I'm where I should be. I could have been a hund00 million man right now. If I didn't up the eBay from the beginning, I could have did that correct and I but I didn't and I had to backtrack and then I used the social media to get me back in line and now the AI to get me where I I should have been all along. >> One thing I want to point out, um when I was doing research for this, you were on the people's court. >> Yes. >> How did that come to be? Well, you know, um um I had a graphic designer that was doing really good. He was very talented, but his life was troubled. And um uh one time, you know, I came to his house or where he was living in Harlem or whatever. And he's renting this room and I walk inside this place, decrepit. It's a python shedding its skin inside a dusty crusty aquarium type deal. The opposite of what happened when I went to York was essentially. >> We don't have bipods. >> Exactly. You have a fish tank. He That's why it's the opposite. You know what I'm saying? But it's crusty and I'm like And he's got this one bedroom and his roommate he tells me is Xanax sleepwalking into his room at night >> and just like bothered. And I'm like, "Yo, this guy needs some peace and and quiet and he's got the talent. Let me see what would happen. I had an extra room, you know, I had a nice apartment or whatever. Let me see what happen if I just said to this guy, you know, let's take the summer, 3 months, get some peace, rentree, just do some design work and come over and live." And, you know, I like this character where he came, he closed the door, he smoked about a million backwoods in there. You know what I'm saying? and um uh and accomplished nothing over the course of that summer. And then I'm like, man, I got to throw this guy out of here. He's a nice guy. You know what I'm saying? But I'm like, this is horrible, man. I got this guy living in my house. I give you three months until December. It's a human experiment I was running. >> So he's like, I'll make an app or whatever, but it ended poorly. And you know, it was like a $5,000 balance on some app or some. And I'm like, you know, whatever, bro. You this app you stayed in my house for free for six months, bro. I gave you 10 grand. I'm not giving you another five or I'm not giving you another whatever. And then he sued me. Small claims. And then he wanted to pick it up at people's court, you know, because it was a it was a dispute over like, you know, like, you know, man, I did so much for you, bro. And you wasted all that time. Like when I opened up that door after he left, it was like a a layer of this thick of dirt on the floor >> and it stunk like font font or f uh uh what you font is the leaf. the tobac cousin of the tobacco leaf >> that has no nicotine. You know what I'm saying, bro? >> It was what it was. So, I went in there and I'm like, "Yo, man, this is disgusting." And then um and then we went to People's Court. They're like, "Yo, they'll cover the cost if you lose." >> And he did have kind of like a little contract or whatever. And the judge, you know, they made the the thing the the race game, you know, like ah he's going to win because he's d whatever. And um uh you know, I rocked with it and that's what it was. Why do you even get yourself into something like this? Like you you're living such a good life to just like lock in and focus on what you're good at rather than being like, "Yeah, come live with me." Like I want the parameters. I want to understand that if a human being is in trouble, yeah, I could take care of myself. I'm going to go make money. I'm going to focus on my I'll brand my business, whatever. But if a person is in trouble that has talent, what does it take for them to have stability and be able to bring themselves to their to realize their own potential? I want to know. I want to know what kind of impact can I have in a person's life. I want to know. And if it's six months out of my life to try that out and a little people's court story, it works out perfectly well. >> Okay. What we're going to do is we're going to do quick questions and answers. Okay. >> Um, real or fake? Most people wearing diamonds in New York City. >> Uh, most people wearing diamonds in New York City are real. >> Real or fake? Rapper chains and music videos. >> Real. Who's the brokeest rich person you've ever met? >> Brokest rich person I ever met. I will not disclose the man's name. >> What's the worst? Well, like how did you You don't have to say his name, but like what was the context of this? >> The context of this was that um I mean, you know, he's a successful person. He has assets, but he didn't manage his money well. And um you know, he's behind on his bills and people probably stealing from him, too. Has a celebrity ever tried to scam you? >> Yeah. Which influencer is definitely wearing fake jewelry? >> I'm not sure, man. I haven't really seen because you get caught instantly if you're wearing that on social media today. >> Have you ever been robbed? >> Yes. >> How much was it? >> It was like 100 grand. >> Do you have insurance? >> Yeah. >> Are Rolexes overrated? >> No. >> Is buying jewelry ever a smart investment? >> Yes. >> And then this is one word answers. Jewelry or watches? >> Jewelry for me? >> Cash or gold? Gold hustle or talent? >> Talent. >> What drives people more? Fear or greed? >> Can't. I don't know. I'd say fear, but I don't know. >> I'm curious. How much do you think your social media presence has pushed your business? >> Um, 90%. >> So, it's just completely exploded it. >> Yeah, it's it's turned me into a brand. As long as I got the right product and the right marketing and this and that, I'll be able to secure a brand that'll outlive me after I'm dead. And what are the main ways right now that you're trying to catapult your success? Like the main levers you're trying to pull >> AI >> and and that would be with like video. >> I'm going to design vast amounts of jewelry that would otherwise cost me $500,000 in designing. I'm going to do it for free. >> I think what would be good is if you had like signature items that you did limited drops of. Like we're doing for example my whole idea my whole idea with the chain I was about to say that dude my idea with the chain of like I don't know how much I'm paying the chains are different here the chains are different here I can't guarantee quality if I'm buying something in Japan I just have no idea but I want one and it would be cool especially as a store of value in terms of gold if you did something like hey guys these chains I promise you my cost is this I am only taking 15% profit and I'm doing a release of 100 chains these are signature tracks NYC chains, you guys can buy them and then sell those out. Those would sell out like this and then it could be kind of like a staple like you have one of those signature like tracks NYC some sort of label for those. Consider it done. That's >> And if you're transparent about your numbers, like that would open up doors for people that didn't even know they wanted jewelry just because the obstacle of thinking you're getting scammed is too big to hurdle. Yeah. But the but the flip side to that is you see some people that see the amount of money and don't quantify the overhead. So let's just say there's like 3,000 profit margin in them. They'll say, "Well, you're making three grand." But then they're not counting in, you know, the rent and the this and the count you got to pay for and your time. And then they're going to be like, "Well, why can't you just make a thousand on this, >> right?" >> I don't know. I I think there's a percentage of people out there who would love that. I love transparent prices. >> The the idea is limited drops. You know what I'm saying? >> Yeah. drop. The economics of it have to be worked out. You know what I'm saying? Don't lose money on a limited drop. >> Just do the math. You know, this cost that, that cost this. Not charging just for the materials. It's the whole thing. I just think that would be good for branding, like to be the guy that like is doing the the highlevel limited drops. It would differentiate you from from other people. >> Yeah, I'm with it, man. I'm with it. >> Yeah. In a way, it's cool because it's like your merch. Like people have hats that they wear like like a shirt, but like that's your merch. worthy industry. It has so many parameters to it, right? Once you go down this rabbit hole, it'll take your whole life. All right? Because you could do this and you could do that and you could save on materials or you could scrap this and you could buy scrap or you could do there's so many different ways. That's what made it a very interesting game. It is it sucks you in and you have a million ideas. Some of the businesses that were in the podcast podcast buy my t-shirt, buy my hat. Mark Robber does some where he's, you know, makes these little toys and that's genius, right? You know what I'm saying? Um, the jewelry business has so many different elements of humanity in it that it makes it a very interesting game to play to win. And I'm going to win that with this idea, that idea, a poofier haircut, a double hot dog, and a little bit. And a little Bitcoin man, I've never explained this. He keeps talking about double hot dog. It's my phone wallpaper. I've had it since I was 18. >> Two hot dogs in one bun. I don't know, bro. >> Look, all I'm saying is what does it mean? >> Do you see anything wrong with that? >> Um, it just brings up sexual You know what I'm saying? I don't know. >> Do you Do you ever see Do you ever get served a really nice dish and you're like, I want to take a picture of that. >> It's rare, but that happens. And so this hot dog, it's Hebrew national. You would like this Hebrew national. >> Hebrew national. And it was in a hogy bun, right? >> And so I was like, "This looks really good." I was really excited. I took it over a fire. I took a bite out of it and I took a picture and like >> it was that important that you want to see that every day. >> I've had it. I've had this picture of this. You want to know about cherry blossoms over here, bro? What do you got, man? >> I'm just saying you're not I'm not talking about the cherry phone cover, bro. >> It's a jellyfish. >> Oh, let's see it, man. All right, that makes sense. I like the jellyfish. It's a little bland. >> It's branding. People talk about it. You see the double hot dog. >> It was intriguing. It just scared me a bit, bro. That's all. It just took me a back. Like, you know what I'm saying? What kind of Where am I going? Where is Am I gonna get double hot dogs right now in this >> and part two of the ice coffee hour. You guys know we'll be behind the payw wall. We need you for another hour or so. >> Send them in. >> But yeah. All right. >> Oh god. >> Thanks so much for coming on. >> Thank you. It was amazing time, boys. >> This has been a blast. Thank you all for watching so so very much. We wouldn't be able to do what we do without you guys. Honest thank you.