E134 - Patrick Bet-David: World War 3, Manosphere & Becoming Irreplaceable

24:58Maybe a woman betrayed them. We've all been betrayed by a woman and we've also done the betraying, but we've been betrayed by women where you're with a girl, you're giving your best and she hooks up with another guy. You're devastated. I'll never let a woman do this to me. Sometimes guys just become so hard shell on the outside because they don't ever want to allow a woman like that do anything to them, right? So I understand all of that. Men are sensitive, but in a private way, not in a public way. We've all been hurt in a different way. The realities of life is risk. You got to take the risk with a girl.

25:28If it's a 50-50, I don't know if it's going to work yet. You don't know if it's going to work yet. None of us know everything about the girls we're with. You have no clue what their past is. Is there like a way to go find out how many times she swiped right? There's nothing. She can tell you 20 and it's 100. You have to believe it. She can tell you two, and it's 19. How are you going to find out? What are you going to do to go investigate that? So there is risk in that. There's risk in having kids. There's risk in all this stuff. But for me, when I think about it, even though I still have these types of people around me and I have the conversations with them, eventually you look at what was cool in your late teens, early 20s.

26:04In your early 20s, the Playboy was cool. Hugh Hefner, Marilyn Monroe on the cover of a Playboy magazine. you know this guy's been with this many you're like oh my god look at that guy there was a guy in our community good friend of mine he had been around with 1500 girls and he went to jail for 9 years came back he was one of the biggest ecstasy dealers that there was good looking guy in shape girls were crazy but we'd go to parties and I would see this guy do some stuff crazy about this guy right crazy about but that's what it was crazy but he had access to everything, right? And guess what? In your early 20s?

26:44Yeah. Later on, eventually they're like, so maybe that works with an audience. Doesn't work with a 45-year-old. No, it's not cool. It doesn't work with a 45-year-old. Listen, I'm good. I want to have a life. I want to build something special. So it depends. If you're 55 years old still thinking about being that guy, you made some real bad decisions in your life. You know, you made some real bad decisions in your life it should be out of your system and just kind of like moving on to the next phase but i understand that everybody's different for me there's nothing comes close to building a family and spending time with those guys it's priceless did you watch the uh new louis through documentary on netflix now the manosphere no it's quite interesting is it yeah what's it called louis through louis through he's a british um i guess he's a documentarian he does document what's it call uh the inside the manosphere i have to see that but he's got um justin's in it myron from fresh and fits in it really uh it's a guy called hs who's in it there's uh sneko what's it about is it about he's kind of investigating the the manosphere i mean i know for sure he reached out to tate but tate was like no because you're gonna try and do me dirty this guy yeah okay so I got to go take a look.

27:58It's quite interesting. But it just goes to show that there are, there is a lot of kids who are admiring these style, these types of guys. But I would say from my experience, probably not as much as they used to. I think because, you know, one period it was very woke and everyone was like, look, this is ridiculous. We need to kind of push back a little bit. Because even a lot of those guys, they came on my podcast in the early days. But then I was getting a little bit alarmed because I was almost branding myself as being Mr. Red Pill by speaking to all of these guys. So I was like, I need to get some women on the podcast and balance it out.

28:34But it's an interesting watch. I'm going to definitely take it. But was the outcome to say how beneficial it is? Is it shallow? What was the outcome? It's more so, it doesn't make the Manosphere look good. He doesn't make it look good. No. So Tate knew they were going to do that. Yeah. Okay. But I don't think Tate necessarily needs the fame. I mean, he's, you know, I think we both know him. He has trust issues. Especially the companies like BBC. They just want to do him dirty. Oh, I was there the day, you know, the first interview that was done when he got out of jail was with me. And BBC was there like literally right before us.

29:15And he kicked him out of it. They got done. He's like, I'm done with the interview. No, I remember that. Is this the one that got like 16 million views yet? Yeah. Yeah. So Tate, you know, he chose to live this life and he was the guy that got the biggest with that life. I don't know how much he lives it today. I don't know how much of that is today. I don't know how much of that if he wants to go that direction. You know, even with the conversation he and I had on the podcast for the time that we had together, because Adam hijacked that podcast that we had. We joke about this. But, you know, when I said, if you invite me to go to the club where there's going to be a lot of these younger guys that don't have a lot to lose, I'm not going to the club.

29:58What am I going to do at the club? You want me to go hang out with people that have nothing to lose? I'm not wasting my time. I want to hang out with people that have a lot to lose. Because when you have a lot to lose and you risk, I respect that. Because you have a lot to lose and you're risking. When people have nothing to lose, what's the value of risking? You have nothing to lose, so you're risking nothing. So what happens if somebody risks nothing? You lose nothing. But when a person has a lot to lose and they risk it on a business, on a career, on a philosophy, on a political idea, you respect that.

30:33Because he could have a negative impact on this position they're taking. So my feedback to him was, whoever you choose to hang out with at this age, minimize the amount of people you're hanging out with that have a lot to lose. And I was telling them the picture of Dana White and the president being at the big college football game because I think it was the next day that we did the interview. I said, why are you not in that suite? Why are you not in that suite? Because you're hanging out with a bunch of kids that have nothing to lose. That's where you belong. You need to be in those types of stages.

31:06So it's the feedback I've given him. And who knows, you know, if he wants to go through the next phase of his life, He's a very good communicator. He's got a very big upside, and he has to choose what the next direction is. This rage-baiting, you know, this with kids, it's a short lifespan. It's like a heavyweight boxer fighting a featherweight. What are you proving? What happens if a, you know, Mike Tyson beats Pacquiao when they're both at their peak? Nobody cares. tyson's not fighting pacquiao yeah tyson's fighting evander holyfield tyson's fighting guys his size right foreman so that's the part where eventually you're going to age out of this phase of competing with these young kids and trying to put them in their place set the example do your part let them scream let them holler and let them do whatever they want to do all right guys quick pause here i've got a question for you how is your summer physique coming along we're only a couple of months away before you will be gracing the beach the pool are you in shape are you not in shape is there work to do most likely if so i have the tool for you which is going to help you out massively it's the thirst app this is something which i personally use myself when it comes to my training and my nutrition i have all the programs in there which i use on a regular basis and for those who are just looking to lose a bit of body fat the same thing goes for women as well a lot of people don't realize i used to coach for a large chunk of my life so all of my coaching experience has been put inside of this app i want you to learn as much as possible about how to get yourself in shape there's exclusive videos in there telling you how to do it how to execute exercises properly the foods which i eat and a newly added nutrition section where you can track your meals and your daily macros is pretty much this pocket-sized version of myself which i'm going to carry around with you all day every day so if there's something which might interest you which it definitely will do i highly suggest to check out links description head over to the thirst app get it downloaded you will not regret it let's crack on with the episode how do you decide who you will socialize with or maybe even do business with is that certain like criteria or checklist absolutely i mean to me values and principles number one character background to see, you know, what successes you've had in the past, you know, relationships, you know, if we're going to get into really, really like we're going to invest and we're going to do a deal together, I have to know you for three years or a person that's vouching for you.

33:46I've had to know him for many, many years. And that person has to vouch for you a hundred percent to be like, look, I trust this guy a hundred percent. Here's what we're doing here. We're putting up this much and we're thinking about this. Okay, great. Let me entertain it. I'll come back to you. But generally, like even in our consulting firm, David Consulting, we've got an event that's coming up, fall conference. We'll have 12 ,000 people at MGM Grand Arena. We've had Tom Brady at that event, The Rock at that event, Martha Stewart, Tony Robbins. It's a very, very big, it's four days of going through a 296-page manual on how I grew my business from zero to selling you for a quarter of a billion and then now having a media company that in the month of January, I think we got total 812 million online views, no ads.

34:26pure organic, right? We kind of open up the playbook and here's what we're doing. A lot of guys will come to us and say, Pat, you know, we'd like to give you 5 % equity, 10 % equity, 20 % equity, and we'd like to do a discounted at a two-year rate, all this stuff. Even when you offer that, if I've not watched the way you operate and take care of your guys and your business, how you've grown it the last three, five years, the chances of doing business together is slim. Because nowadays, you can have that and make the investment, and it can go wrong. So the risk is a very tough risk. But if I watch and I spend time with you and I see how you are with your family, I see how you are with your group, I see how you are with your crew, and we're able to do a proper background check on you so we can learn everything about your past, then you feel a little bit safer.

35:11You have to nowadays. You have to nowadays. One thing I've noticed, I don't know if it's because I'm older and wiser or if it's just something which has been going on forever, but I've become increasingly more aware of the amount of people who seem to not really care about how they make money. They just want to make the money. They don't care about the morals or the ethics. They're willing to do anything to get to this level they've set themselves to achieve. It's always been the case, just so you know that. That's always been the case. Today, it's more public. That's the thing. Today, everything is public.

35:43How old are you? I'm 35. Okay. So today, it's just more public. Meaning, 30 years ago, if you did something, it was somewhat private. it, you screwed up. Right now, if you screwed up within five minutes, it's on X, tens of thousands of people retuning and millions of people commenting. Then it's the other people that have no clue about it that believe it, right? So this has been around for a while, but it's the noisiest world we've ever lived in, ever. It is the noisiest world. And by the way, if I want to destroy your reputation and I have money, there are plenty of negative publicity, bots, companies I can go to for$100 ,000.

36:30I can destroy your reputation for only$100 ,000. It's a business model today. So I can go to this company outside of the States, you pay them$100 ,000 and say, I want you to create this rumor about him that he's gay. For$100 ,000, I can spread that rumor. And by the way, as much as you're laughing at it, that's the world we're living in. I think it would do down pretty well. Yeah. You can go give a guy$100 ,000 and say he is a womanizer. $100 ,000. He's got a horrible alcohol problem. He drinks after midnight. Nobody knows it. One of his neighbors, some come out, destroyed the door. He was so embarrassed he went and fixed it.

37:12Put$100 ,000 behind that story and have 10 ,000 different body counts retweeted and commented. it make your top story on x now officially you're an alcoholic after midnight so so today you you you have to still be able to win knowing that the weapon exists and by the way you may say well it's not going to do anything for my reputation really you don't think people believe a lot of lies today oh it's not hard to believe a lot of lies today yeah any lie you want It's the greatest time ever to spread a light. Greatest time ever. If somebody wants to destroy someone's reputation today, it's a piece of cake to do with$100 ,000.

37:52Now, let me give you the flip side. What's long-term thinking? Here's how long-term thinking works. Long-term thinking is, okay, all right, you may take three months from me, six months, 12 months, two years, three years. I'm going for 40 years. Go ahead. Go ahead. Do it. and you still have to find a way as you get bigger. Now there's that happening times 50. But now your weight is so much bigger that the market is now saying, I used to really believe that about him. I just don't believe it. I just see the way he does business and what he's done with his family and what he does with his personal life.

38:25I believe him. I think these guys are full of shit. So maybe it was 58 % the market believed it, but 10 years later, that 58 is now 6%. Because now you've overcome it with so many new victories is that that's old news. But on the flip side on doing business with short-term guys, a lot of people are like, hey, short-term, let's go make that quick money and do this. And you have to be able to differentiate between the risk that a short-term quick fix can be versus a long-term valuation gain. Everything I'm building here right now, I get paid$350 ,000 to$500 ,000 in domestic, in America to speak per hour.

39:03None of that money goes into my pocket. 100 % goes into the company. Last month's AdSense on our podcast, between all our channels and Spotify, I don't know how much money you brought in, $800 ,000,$700 ,000,$900 ,000. This is how much goes in my pocket. It goes all back into the business. Why? I've never taken money off the table for value attainment. Everything is long-term valuation. If you're in business thinking long-term, on the way there, you're going to make some mistakes. You're going to stumble. You're going to be like, oh, that was a short setback. Oh, we made a mistake here. Oh, we made a mistake there.

39:40But if you can find a way to minimize the amount of mistakes you're making and think long-term, how can I take care of my audience, be honest to my audience, be good to my employees, be good to my clients, take care of my partners, long-term the market's going to be on your side. Long-term, not short-term, long-term. And that's not easy to do. Well, the current setup is the moment. You've got the podcast channel. There's the value attainment channel. Mm-hmm. What is there? Are there ones as well? Oh, yeah. We have Vietamin Comedy. That's about a million subscribers. We have Vietamin Russian. We have Vietamin Short Clips, which is 750.

40:12We have Vietamin Russian is, no, Vietamin Short Clips 750. Vietamin Russian is 300 ,000. And we got a total around 13, 14, 15 million subscribers. Yeah. Is what we have. And that's not including, you know, Facebook, Instagram, all the other stuff. But then we have a consulting firm. This is the one no one knows about. 10 ,000 businesses, 64 plus countries that we do engagements for, ranging from$20 ,000,$10 ,000, upwards of$3.3 million engagement with a company to help you with HR, comp, technology. We literally come into your company and look at exactly what's going on and we shop how you need to shift your comp plan right now.

40:53The way you're paying your comp, it's too risky. This way, let's adjust this. How are you doing your calibration? You know, complete revamp strategy on some things you're doing with your business. and then we have Manect and then we have HR software that does AI interviews. Then we have Merch and then we have, you know, our cigar private lounge membership and then a handful of other businesses. And they all feed each other within this flywheel. Everything is feeding each other. So we... I've tried the Manect. It's a good idea that... Yeah, it's a very... If somebody wants to talk to you, you probably get thousands of messages.

41:23You can't get back to everybody. Your time is valuable. Somebody can get on Manect, ask you a question. They pay you for it. You have seven to 14 days to get back to them. You get back to them in a car, you're being Ubered, you're at the airport at your leisure, early in the morning, late at night, you're in the bathroom, you're Manect somebody backbone. And then it becomes like texting. So Manect officially is now in 200 plus countries. But yeah, we designed this intentionally for the flywheel to be able to feed each other. How do you deal with the smoke that you might get when you are interviewing a particular person who, you know, is not going to get generally good feedback?

42:03Who's like a controversial person and maybe it doesn't go the way you wanted it to go. Or maybe because, you know, there's questions that you want to ask them, but you know you can't go there. But you have to try and get the most out of that person. and then the audience is like, why didn't you ask them about this? Or I can't believe that you would have this person on your platform. Why would you do that? I'm the only person in the world, you ready for this, that interviewed Nick Fuentes and Netanyahu within 30 days. Okay? And by the way, guess which one prompted more death threats? You would have thought Netanyahu.

42:39It's Netanyahu. Yeah. Me interviewing Netanyahu, it was like... I read the comments. I read every one of the comments. I'm like, this is pretty wild, you know, where people are at. But did you not expect that? Oh, I expected it, for sure. Not at the levels. Like even, you know, when we're here, we just build a big wall on the property. There's a reason why we build a wall. Because a week or two weeks after the net now and every, on my birthday, a guy showed up with grenades. I've never told a story because I didn't want this to be public. Guy showed up with grenades in our front lobby. He sends an email saying, I'm friendly, but I'm armed.

43:12Weapons everywhere. I'll pull up this clip to show you what it looks like Grenades Cops galore are outside I hold a meeting afterwards And I said guys He is being held up He puts his hand up He's walking backwards Exactly where you came from This is where it happened So for me the moment that happened I said you know what We need security And a lot of it was around How could you talk to this person I said listen man I talk to everybody. Yeah. And I enjoy the conversations I have with a lot of these guys. I don't... Well, that's one thing I respect is that you actually just went and you did it.

43:52Like, you don't really seem to be afraid to talk to him. Look at this. So, this is the guy. You can cut this part or do whatever you want to do with it. That's him right there. You see the guy with the arms up? Yeah. Wow. Cops are right there. All the cops are... Everyone's sending me... I'm not thinking, what is this? Is this a prank? Nope. We're out there. So... What was his goal? I don't know what his goal was, but he got arrested. I think he went to jail for a year. His wife drove down from another place. He had some issues, mental issues. He had some weird things that happen nowadays. But the reality of it is, I'm going to talk to whoever I want to talk to.

44:28I enjoy talking to both of them, and I'll do it again to talk to both of them. I have a very basic rule. If you're going to be respectful to me, I'll talk to you. Samuel Bolivar-Gravano killed 19 people. had a two and a half hour conversation with him got 22 million views and guess what it's sammy now runs a youtube channel he's not out there committing crimes and you know for the most part he's got his own podcast he makes his own money and he's good to go right michael francis came in 16 70 million views on the interview that we did yeah he's been on mine as well he's phenomenal he's a very good storyteller he just texted me as reminded me to get back to him um you know you have John McAfee I went to his place one of the weirdest interviews I ever did when I went to his place I'm in the car talking to Tom Mario and our guy are in there setting up the camera Mario texts me and says Pat please come in here as soon as possible these guys are losing their mind they're worried why you're sitting out there and I walk inside they say who are you with I said I'm here to interview John these two three guys standing in the front I said why are you interviewing what are you interested in So just doing an interview.

45:36It's a podcast. So what military branch were you? And I was in the Army. He's telling me this. How about yourself? I said, I was in the Army. He said, well, no, you weren't. I said, I was. What were you stationed at? Boom. What MOS? Boom. You know, where'd you go to AIT? Boom. Who was your drill sergeant? Who was this? He's like, you didn't tell me you're in the military, man. Come on in. So I come inside. He says, look, before we start the interview, if you want to relax, there's four prostitutes upstairs. Just go handle your business. Before the interview, okay? I said, listen, I appreciate your hospitality.

46:03You're amazing. I'm good. You want to have a shot? Let's do shots. I'm spending some time with them. And then John shows up with you the interview. He's got a gun in his pocket the entire time. In the middle of the interview, imagine we're talking like this. That's the front door. Guy knocks on the door. In the video, you can cut it and put it in there. Guy gets up with the gun to the door. In the middle of the interview, he pulls out the gun and a guy comes up and he puts it back in his holster. John looks back. I'm looking straight at him. We finished the interview. i go home i'll talk to anybody and people that i'm interested in as long as the individual is respectful we'll have the conversations but yeah bb and nick fuentes within 30 days yeah is there anyone that you've always wanted to speak to but you it hasn't happened for whatever reason would be it yeah yeah putin would be the guy ideally here versus going over there no no no i'd gladly go to russia no matter where it is i'd like to talk to him i think it would be a unique interview speaking with Putin.

47:00At one point, we got very close. We had a date scheduled, but Putin would be it. Yeah. But he's, so far, he's spoken to Lex and Tucker. Not Lex. You're thinking Zelensky. Zelensky spoke to Lex. Zelensky spoke to Lex. And I think, I don't know if he spoke to Tucker. Tucker did speak to Putin. Big interview that he did. But he's spoken to, I believe, also Megan Kelly, if I'm not mistaken. and I think Macon did something with him as well many years ago. He's spoken to quite a few people. He's not one that shies from interviews. He's not a guy that's afraid. It just needs to be a heavyweight for him to sit down with so he doesn't want to do lightweight interviews.

47:41He wants heavyweight interviews. He's not a guy that fears a lot of people. What is driving you to continue to build this company and to speak to these people? Because you've been successful. You've made the money. You've got your family, your kids. What is it like deep down that keeps you pushing further? So it's funny. When I was building my insurance company, I asked myself long-term, are my kids all going to want to get into insurance? And I said, I don't know if they're all going to want to get into insurance. My dad's an insurance broker. Is he really? I did a week at his office when I was younger, and I was like.

48:17Not for you. See, that's exactly it. So imagine if one of my kids are like that. It's good you did it. I don't want to do it, right? So I wanted to build a holding company where the kids can choose if they want to work with us in one of the companies. And if they don't, I get it, but I want it to be wide options. So if they want to get into private equity, they can work with us. If they want to go start and do movies, they can get into it. If they want to do podcasts, they can. If they want to go be a consultant, lawyer, they can. I wanted to build a big holding company so it can be a generational type of a business for the family to keep driving and leading.

48:53So at the end of the day, That's what drives me. All the other stuff. I don't need another. If I make another$20 billion, it doesn't change my life. I'm still going to eat at the same place. I'm still going to live at the same place. I'm still going to travel private. It's not like I need any more to change my current lifestyle. We've made some real good choices. But if we do make that kind of money, we'll be able to make better investments. we'll be able to do some projects that we've been wanting to get into and make the holding company bigger so eventually if the kids want to be part of it they can what do you do when you've had a a really bad day and things have not worked out because i imagine very often this is something which a lot of entrepreneurs particularly well regardless of whether you're starting up or you're a successful entrepreneur the the levels of the stress which you have to deal with yeah so let me Let's just say if I have a high level of rejection in my early days of a business, I'm running.

49:57Like just things are just not going right. Like this. This was my hack. I'd call five people and immediately I'd call five people and I would tell them how much I believe in them, how amazing they are. And I'm like, hey, Johnny, how you doing? But by the way, have I ever told you why I believe you can do big things in life? Why? Well, because at one time when we were talking, you brought this up, and I like the way you handle your, you know, take care of your mother. And the way you present, I really like the way you present. Five phone calls I make to others, lifting them up, whatever I was thinking about.

50:31There's nothing better for your morale than calling five people and telling them how much you believe in them. Nothing. And they're going to be sitting there like, where's this phone call coming from? If you're watching this right now, do it. stop the podcast, call five people right now and tell them why you believe in them based on one quality. See what happens. Go ahead and test it out. Pause the podcast and come back and watch the rest. See what happens to your day. The immediate feeling you're going to get from it is priceless because those five people are going to be like, man, you just changed my life.

51:05It tells you I'm still needed. I'm still making positive impact in the world, no matter how bad things may be. At this phase of my life, you know you're not going to have days. You're going to have days, more, more bad days. Because remember, I built a business where I was having more good days than bad days because it's established, right? We were selling 150 ,000 insurance policies per year, a million total insurance policies we've sold. We've licensed 60 ,000 insurance agents in 50 states in America. It's a very predictive business. But when you go back to being a startup again with all the companies I'm running are newer, you're going to have more bad days than good days.

51:42Hiring, firing, client loss, technology, software, data, because you're building everything up again, new. That's kind of where we are right now. It's back to startup days with the businesses we're running. But you don't have a choice. It's the choice you made. You can either say, I don't want to run a business or if I'm running the business, it's part of it. I don't have, there's not an alternative for me to say, I don't want to do this. There's a part of it. Like I remember when I would read the contracts with Michael, when Michael would do anything, he had a clause in his contract. It was called the love of the game.

52:16He was the only player at the time that had it with the Chicago Bulls. Have you heard about this clause? So Michael Jordan and his contract with the Bulls had something called the love of the game. The love of the game is I can at any time, any place choose to play basketball with anybody. You can't tell me anything. As in like another team? Stranger. Okay. At the Hawaii, at YMCA, at any 24-hour, you can't, a lot of NBA players would say, NBA teams would say, you can't play with just anybody. You can only play professionally because we can't afford you to get you injured. Michael's like, no, I love this game so much I'm playing it.

52:52I love this game. I did a podcast this morning with my ear. I still can't hear anything. I love doing a podcast. This morning I'm researching stories and looking at it. I love. I had 22 kids that just came here from the school. You saw me giving a tour and they're saying, I love it. Right after this, I got to go. Tom comes in and shows me all these reports for my meeting tonight at six o 'clock that I have. I love it. I'm looking. I love the game. If you love the game, truly you love the game, you'll tolerate the pain and the issues you're going through. If all of a sudden you notice for about a month, two months, three months, four or five months, you're no longer enjoying it.

53:28It's a grind. Like three times in my life, I shut down the YouTube channel for three months. We were at 488 ,000 subs. I'm like, I'm not doing this no more. Shut it down. Three months, zero content. Nothing. Why? I was doing vlogs. I was doing this. I had my third kid. I'm traveling six months out of the year. This was 2017, 18. I'm like, I'm done. I'm not doing anything. And I did it two other times previous to that. So I was like, I don't know if I want to do this content stuff. I enjoy my life. I don't know if I want to do this. And then last time it was like, if we come back, it's because we're going to build one of the biggest businesses out there and one of the biggest media companies.

54:01And we're not doing it for some small. Then it was like, we're going forward. And I was at the 488 mark when we came back. But you have to enjoy the process every day. But if after three months you're not liking it and your energy on camera is like it's a grind. I say that to people who look at me and they're like, I want to look like you. And I'm like, well, you better figure out a way to enjoy it because I love it. I've been doing it 18 years, and I'm going to keep doing it for the rest of my life. There's nothing like it. No. Yeah. You put me in a gym. Even when your team showed me. First thing you said to me.

54:33You showed me your gym facility. Yeah. I was like, wow. Yeah, I saw your face. I'm like, hey, you work out. I was giving you a hard time. Of course, I know who you are. And then you're like, hey, man, the gym is a nice gym here. First thing you said. Yeah. Yeah. I mean, one thing that's impressive about you is you're able to somehow know quite a lot about everything. Like, how are you able to keep up to date with so many different topics when there's just an abundance of information coming at you every single day? Is it, do you have like some downtime to try and catch up with everything or are you absorbing a lot of the information from the guests that you speak to?

55:10Probably both. Less now because I have kids and I have a lot of businesses today and I can't read as much as I did before books. I used to read a lot. Now I read stories. Now I'm reading current events. Now I'm reading stuff that's the day-to-day. Like right now I'm reading a book that's about legacy planning, estate planning. The average person may not be interested in something like that. I'm reading another book right now simultaneously with the other one that's called The Pagan Christianity. Pagan Christianity. A guy on the next sends me a message saying you got to look through this. So I'm going through that one.

55:48I just finished another book called The 5X CEO. I have another book I'm reading on the history of McKinsey. I'm all caught up in the McKinsey history, but I'll get into phases, topics. So if I want to start a media company, I read every book I can from all major media company CEOs, Ted Turner, Bob Iger. Send me any books on media companies I want to read all about it. What do they do? How did it work? What did it? Consulting. We're going to start a consulting firm. I want to read about McKinsey. Who was this James McKinsey guy? Who's Marvin Bauer? Who's this Bain guy that left and started his own company because a contract didn't work out in his division?

56:22What happened with these guys? I want to know the history of it. So whatever I'm going through, I attack that topic to learn politics. Why does that guy believe in socialism? So let me read Communist Manifesto. Why do you believe in this? Why do you believe in that? Like right now, my son, my oldest son is going through the Bible. I think he just wrapped it up. He's going through the Koran and he's going through the Torah. A 14-year-old kid is going to read the Koran. We're not Muslims. We're a Christian family. But I want him to read it. Why? Because later on when he's having any debates or issues, I want him to be equipped to do that.

56:55That wasn't me. I wasn't a reader in high school at all. I'm never from the day I was born until 18. I've never finished a book cover to cover, ever. I was a 1.8 GPA kid. I went to the Army. I thought I was going to be in the Army for 20 years. And then all of a sudden I read, my sister recommends how to win friends and influence people. Rich dad, poor dad. and then all next thing you know, I read 2 ,000 business books. I just couldn't put them down. If you're inviting me, go to the club. I'm like, no, guys, I'm finishing up this book tonight. I'm finishing up that book tomorrow. I was just maniacal about reading pre-ChatGBT, pre-language learning models where you can go out there and say, can you give me the summary of this book and give it to me on 10 outlines and the 10 most important facts and stats and you ask that prompt and the book will, you know, ChatGBT is going to give you a summary of the book instead of you having to read it.

57:44It's a very different era today. But here's a part to think about. What you and I used to value, like if you and I used to sit there and think about how important it was when you would meet somebody and they had so much information here, and you would say, my God, he's so brilliant. How do you know so much? One of the things is, is that person genuinely well-educated and they're speaking of their own opinions or are they just regurgitating the opinions of other people that they've read about? Like, who has genuine - But let me tell you, it's a fair question. And I'm going to tell you this. The people whom we're impressed with that have a very good memory and a lot of knowledge, remembering is going to mean nothing in the next 12, 24, 36 months.

58:34Nothing. Because you're not smarter than ChadGBT. You're not smarter than Perplexity or Gemini. And probably in the next 30 to 5, 10 years, you can buy a chip to put it here that all of the Wikipedia knowledge, all the history of where this war was, for$100 ,000, that chip is here. And the way we buy cars, like I have the AMG package. I have the this. That's what's going to happen with these chips. There's going to be chips that you can put here that's going to say, this chip you put in your head is the top 50 ,000 best books in business philosophy and history. and we're doing it in a way that's modeled where it's reason so conservative liberal and neutral but we're giving it to you from a very neutral unbiased side okay great go how much is that hundred thousand dollars boom oh my god you cannot read no one's going to be impressed by that what people are going to be impressed by is the following we were talking about Mr.

59:30Olympia earlier on how you see some of these guys where you want to go and you did a couple competitions and then I went to Mr. Olympia one time to hang out with the guys just to see what I had to put in my body. I'm like, I'm not doing that. I'm not going to do that. We're going to be impressed by people that naturally can give their processing because processing is what we admire, not facts. Anybody can remember facts. Anybody can remember stats, but it's what you do with those facts. For instance, today, Facebook announces they're losing, they're letting go of 20 % of their workforce. Well, they got 78 ,000 employees.

1:00:13So what's 20 % of that? 16 ,000, let's just say, right? So great. The average person is going to look at that and be like, oh, okay, they're going to lose 16 ,000 employees. Oh, wow, that's crazy. What do you think is going to happen to the stock? I ask the kids right now. Is it going to go up or down? It's probably going to go down. It's not going to go down. It's going to go up. Why is it going to go down? Let's do the math. If you let go of 16 ,000 employees, the first question I asked is, what is the average salary Facebook pays their employees? We went online. The average median salary Facebook pays their employees is$379 ,000.

1:00:44I had no clue. So let's do the math. So if I take$379 ,000, let's just say it's$400 ,000. $400 ,000, okay, if we do$400 ,000 times 16 ,000 employees is$6.4 billion. they're going to save$6.4 billion. But let's go a layer deeper. What's Meta's P-E ratio? P-E ratio is how the valuation happens. So Meta right now is worth$1.5 trillion. Their P-E ratio is 31.5. So then if I take$6.5 billion times 31.5 in valuation, Facebook just made$200 billion in valuation. Yeah. $200 billion in valuation on a company that's worth$1.5 trillion. How much return is that? 16%, 15%, 14 %? Facebook just made 14 % by letting go of 20 % of their workforce because AI is doing the job for them.

1:01:44Patrick Bet-David:Yeah. So to me, everybody has the facts. How do you process those facts? The market's going to respect processing. Like when people ask me questions, if there's a skill set you can teach your kids, what would it be? I said, it's processing above all. So how do you teach that? You're at dinner with the kids. You ask him, hey, if your brother got caught using drugs before I know it, how do you handle it? You literally ask him, well, he would never do it. What if he did? How do you talk to him? Dad, I would never do it. I'm just saying, what if she did? I would never do it. How would you talk to each other?

1:02:19What if one of you guys, you got the family's money and you're being stupid about the money? How would you have the conversation with them? None of us would be stupid. if one of you were, how do you have the conversation with them? What if one of your guys, one of your siblings right now is marrying somebody that you know a lot of bad things about them? Do you tell them? How do you tell them? Do you tell them publicly? Do you tell them privately? How do you address them knowing they're blindly in love with this person? And what if this person wants to marry them? See, these are questions that builds what muscle?

1:02:47Processing muscle. I think this next phase, even though people have so much information, that's not what we're impressed by. we're impressed by how you process that information not the information there's a lot of people that have a lot of knowledge but they don't know how to use that knowledge right like you and I have access to the same exact words that I don't know the greatest writers that ever wrote a book to how to win friends and influence people have sold 50 million copies you think they use any words that are so technical that you and I don't know No. We know the same words, but it's how he used those words to put it in the right sequence that turned into a book that sold 50 million copies.

1:03:31Knowledge is no longer impressive. Processing is. Processing that information. And to get better at that, it's constant exercise. If we're in the car, if right now we're in the car, we got a two-hour drive because we're going to an interview. You're going to know for two hours we're debating something together. They're from Latvia, right? I'm going to ask him, So, you know, your upbringing, what did you learn? Why did you do this? Why do you believe in this? I'm pushing them and they're pushing back. And that becomes the muscle that's being developed. Yeah, you're training the brain. You're training the brain.

1:04:03So to me, you're going to see very soon all the people that have such great memorization. No one gives a shit. How do you process that? You think President Trump has read the most books in the White House? Do you think President Trump's the type of guy that reads books 24-7? Mm-mm. No. So what's his strength? It's not knowledge. What's his strength? How he processes that knowledge and makes decisions. Of course, he's read some of this stuff, but because people are always briefing him on what's going on, it's processing and then saying, here's what we're going to do next. First, we're going to call that guy.

1:04:39Then we're going to do this. If he says no, then you call Larry. If he says no, I'm calling Jack. Jack's going to say yes because he owes me two favors. If he says no, I'm going to tweet about it and tell the world, then when I tweet, Jack's going to call me back and apologize. And I'm going to tell him, don't do it again. Because if you do, I'm going to put a 20 % tariff on you. He's not going to do that. He'll agree. Then I need him to call Iran and say, don't do this again. And then that's going to shut them up because if he doesn't, I'm going to cut the oil for them. That's how he thinks.

1:05:06Patrick Bet-David:Yeah. Not information. It's a very different game. Yeah. One last question. Why does the future look bright? the opposite side just sounds depressing to me you know for me to think you know everything's going to go wrong and all this stuff i just don't want to think that way you know my one night i come home my son is four years old youngest one he's 12 right now it's like seven eight years ago and um says dad you know if you had a middle name i want you to have a middle name dad how come you're the only one in the family that doesn't have a middle name even Papa has a middle name. I said, I have a middle name.

1:05:44I just don't tell people. He said, what's your middle name? I said, Lucky. Your middle name is Lucky? I said, yeah, but don't tell anybody. The world doesn't know. My middle name is Lucky. Why Lucky? I said, because I'm the luckiest man in the world. He says, Dad, you're the luckiest man in the world? I said, I'm the luckiest man in the world. Seriously? You know how like young kids go, greatest coffee in the world. This is the greatest. It's an ad. So I said, I'm the luckiest man in the world. So I go to school the following week. I said, look, I don't know what's going on. Your kid is going around telling everybody that his father's the luckiest man in the world.

1:06:18What'd you tell him? I said, I just told him my middle name is Lucky. So I get lucky all the time. So let's just say we go to a place that there's not supposed to be any cars because it's prime time dinner or restaurant or place we're going to. And I find an open spot close. I said, Dylan, what'd I tell you? That's the luckiest man in the world. Everything to me is a mindset. I choose to believe the future looks bright. You don't have to. I choose. I wear shoes. This is the only shoe I wear, okay? Since September 5th, we went to Italy because I speak so much and I walk so much. We went to Italy in Tuscan, Italy, and we built these shoes with the on-cloud technology on the bottom, the foam, because it's super light.

1:06:56These shoes are made in Italy, 100 % made in Italy. And on the bottom, it says, future looks bright, okay? So, you know, I wear these shoes in meetings since September 9th. I've worn these shoes every day except for five days. Five days. This is all I wear. It's a mindset. It's a mentality. It's you think this deal is going to work out. This relationship is going to work out. This client is going to work out. This interview is eventually going to work out. We're eventually going to do business together. One of the scripts I used to do, I used to call people and I would say, hey, John. Hey, Pat, it's you again.

1:07:29Yes. How's everything? Yes. You thought I forgot about you. I was hoping you did. I said, listen, John, can I ask you a question? He said, yes. I said, how would you like to save five years of your life? if I could make you five years younger, would you want it? What's the point? I said, no, just if I could make you five years younger, would you want that? He said, of course I would. I'm trying to save you five years of your life of you doing business with me today, because you're going to end up doing business with me in the next five years. It's just a matter of when. So instead of waiting five years, why don't we start doing business together today?

1:08:01Patrick Bet-David:Okay. And the idea was like this guy, so why do you think I'm going to do business with you? Because I know what I'm doing. We're eventually going to do business together. Why wait till you're 38? Do that 33. Let's write it up today. And they would laugh, charm, charisma. But it's like, why is this guy so confident? Why is this guy so optimistic about the future? It's been a mindset I've had and worked out very well. I had a lot of friends that were a lot more educated, a lot smarter by the books, but they had the complete opposite of future looks bright. And guess what? They were right. Their ideas ended up being right.

1:08:35and mine ended up being right. I believe everything is going to work itself out. They believe everything was going to break. They were right either way. Both of us were right. You choose which one you want to believe in. Thank you, Pat.

1:08:49Patrick Bet-David:Anytime. Really enjoyed it, buddy. Really enjoyed it.

1:09:06Thank you.