He Bought a Local Newspaper… Now He Makes $600K/YR

24:47And I was like, what? And you were like, Jack Dorsey, you know, at age 30, his net worth was only whatever. And I was like, how do you know this? And why do you know this? What are you doing? And you're like, by the time I'm 30, my goal is to have X. I think we were, well, we probably met when we were 24, 25 years old, something like that. And you were like, when I'm 30, I want to have$20 million in the bank. That was your number. And you were like, look at this. I'll be ahead of Jeff Bezos and Jack Dorsey and these guys. I was like, yo, this guy's a sicko, but I like it. It was the, I should call, like, if I teach a class, it's going to be called, like, how to become an economic animal.

25:22Unfortunately, like, there's way levels. There's many levels to this, and there's many people who are way above me, and I didn't understand, like, how exponential growth works. But, hey, you know, I think I got in the arena of what I was aiming for. all right so we gotta talk about the new mayor not because it's a politics podcast i don't know actually i didn't even know this guy existed until three days ago to be honest with you but you're moving to new york and you seem to know about this guy and i am following him only from a business and marketing perspective i have a business and marketing take on this guy but can you first set the context for people like me who are not following who this new york city he's the mayor, right?

26:03That's what he just became? No, he's going to be the Democrat who's running for mayor. So it was the Democrats were, I don't even know the right terms, but not a nation. And he won. So basically it was him and Cuomo. And because New York is very Democratic, he's most likely to win. Is that why people are freaking out? Because normally if he's just a candidate. More likely than not. The issue has a bunch of issues. Basically every politician is corrupt. So Mayor Cuomo is running for mayor. He was previously the governor. He got in trouble for like asking his co-workers to have sex with him. And he was the guy running against this guy.

26:38The current mayor, Mayor Adams, he has accepted bribes. He is going to be running as an independent versus this guy. And so we're kind of like stuck with like a rock, paper, scissors. Yeah, it's like, you know, South Park. It's like a douche or a turd sandwich. Who are you going to vote for? That's kind of like what we're working with here. The gist of this guy is that he's incredibly charismatic. He's 32 years old. he believes in a lot of crazy things that's my opinion crazy but basically a lot of socialist things so for example he wants to freeze rent meaning you can't raise rent on on on I think something like 2 million different apartments right different rent stabilized apartments he also wants to create government-owned grocery stores and a handful of things like that that are very controversial to people who don't like socialism but amongst young people who are very angry about a lot of things that they should be angry about like housing costing a lot of money versus the wage growth.

27:33But he's super charismatic. And so he won over young people's votes. And so, okay, great, great summary. Now, again, I don't care about the politics of this and I don't live in New York, but I'm fascinated by this guy. Like I literally had never heard of this guy. And then I watched this video. I saw this tweet. He killed it. So this tweet right here has 3.7 million views. So that's just the Twitter part of this. Forget Instagram, TikTok, anywhere else that I'm sure he's posting this type of content. But first of all, the branding. So like that was the first thing that stood out to me, like literally the branding of this guy, like the font, et cetera.

28:09So what is this video? It starts like he's a TikTok content creator. It says, New York is suffering from a crisis and it's called halalflation. And then he talks about how halal from like the like food trucks, you know, chicken and rice halal from like a halal food truck. now costs$10, but it used to cost$8. And he basically goes and he's interviewing them. He's like, you know, how much do you sell for$10,$10,$10? Whatever. We'll play the video. The truck is suffering from a crisis, and it's called halal-flation.

28:44Today, we're going to get to the bottom of this. How much does a plate of halal cost right now from this truck? $10. $10. Chicken of a rice, lamb of a rice,$10. $10? Yeah. When you're a street vendor, you have to pay for the food, the plates. How much do you have to pay for your permit? Before it was 22K. $17 ,000. How much does a license cost if you get it from the city? I think$400. And who are you paying? The permit owner. You're not paying the city? No, no, no. You pay the permit owner$22 ,000 just so you can sell this food? Yes. And who is this? Random guy. Have you ever applied for a permit?

29:23Yeah, I'm applying. and no come anything. It's long wait. I'm number 3 ,800 something. After two years, you're number 3 ,800? Yes. These are the four bills that are sitting in the city council right now, which would give these vendors their own permits and make your halal more affordable. But Eric Adams hasn't said a single word about them. If you own the permit, then how much would you charge for the plate? $7. $8. $8. Would you rather pay$10 for a plate of halal or$8? $8. $8. I think$8 is the way to go. If I was the mayor, I'd be working with city council from day one to make halal$8 again. Oh, how would you pay?

30:04Tastes like$10, but it should be$8. So I was blown away because I have never really seen a politician doing this type of like, I want to call it like kind of natural influencer content. I don't know. What do you even call this? But this is not what politicians typically did. He's making like a Vice documentary, but in two minutes. It's very good. He's killed it. Well, you're doing UGC content. Okay, I think that's the way I would put it. So the same thing happened in business, especially e-commerce. So Sam, I don't know if you remember like in the earlier days of e-com, right? Like let's say 2012, 2014, you know, you mostly did just static images.

30:45Okay, there was not really a lot of video on, let's say, Facebook or Google at the time. So you would do static images for your ads. but those images you would pay a professional designer to make and they would make it look slick and then that's what people would click. And then when video came out, people tried to do the same thing. They would basically film professional looking videos. You'd hire a videographer, you'd have somebody holding the camera and then you would have a good background, good lighting and you would say your thing. But it turns out that commercials didn't really work as well on the internet as me picking up my phone and just making something that looks very raw.

31:20Like I'm doing my, you know, It would be a girl doing her makeup while talking about a different product, right? And it just feels like it's a get ready with me video. Or it's, you know, a mom who's in a rush, who's just being like, y 'all, I got to tell you, this is a lifesaver. Like my husband, my husband can't believe how much of a, how much, how, how much happy I am since I got this thing. And then they ruffle in their bag and grab something out. And it's ads that don't look like ads. And they call this UGC, user generated content. And that's the new style that works best in ads for the last, I would say, five years.

31:53That's dominated most of e-commerce advertising. This is the first time I've seen a politician do this. So like if you compare, I don't know, like Kamala and how perfectly manicured everything was like her image, her, you know, pantsuit, her like professional photography, her like fake phone call with somebody. But then you see that the phone wasn't even on and she's just chuckling to nobody. like it was all super super fake and polished and this guy's doing like man on the street interviews holding the microphone you can literally hear like that you know it kind of rubbing against his jacket sometimes accidentally like it's like it's wabi-sabi dude it's the perfection in the imperfection to go full circle there this kind of blew me away i don't know if i'm just like overly nerding out about this but from from the topic like halal chicken and rice is 10 bucks it should only be eight to the style of the video i immediately was like i get why this guy won and on saturday uh the election was taking place yesterday he was he spent the whole day walking around new york and like doing like these very raw looking videos talking to people and i think that this is just proof which we already have had this proof that charisma matters more than ideas and reality and this is not like a takeaway that like this is a very obvious takeaway but this is just another example because he his charisma is off the charts and he has just been like killing it uh when his ideas in my opinion are just absolutely insane but because of the style marketing it's it's done wonderful young people react react to this stuff and by the way this is what we need like mayor or governor cuomo the guy who was running for him he's an old guy he's in his 60s, maybe 70s.

33:39And he would never in a million years grab his cell phone and just start talking to it. But that's what you need. I think my friend or our friend Austin Reif tweeted something out and he said, the next politicians and the next presidents are going to be podcasters and sub stackers. And that sounds like a ridiculous statement. People who write newsletters and people who have podcasts, that sounds ridiculous. It's not ridiculous. And I totally buy into it. Yeah, definitely. There's going to be a podcaster president. Why? Because they're going to have A, built a following before they run. So they're going to build the audience before they go run.

34:13Two, they're going to be trained with 10 ,000 hours of storytelling, communication, of how to make a point. So I think that's going to be one archetype. The other one is going to be short form video creators. I think Roberto, our friend, said this thing. He goes, whether this guy's agenda is good or bad for New York is irrelevant. He told the best story. This is why Steve Jobs said that the storyteller is the most powerful person in the world. a lie told us a good story can never can never beat the truth trapped in a bad story or i think it's can always beat the truth trapped in a bad story and then i had because i tweeted this thing so when i saw this so i saw the second video i don't know if you've seen this one but um can you hear this dude you know what's funny is i don't have to hear what he's saying and i could sense the charisma well so okay so he's speaking hindi in this video and i think he does actually speak but it made me realize, oh, dude, 11 labs is going to make like a billion dollars next election cycle because every politician is going to translate everything they're saying into all languages using AI instantaneously.

35:18Like, you know, why would you not? You're just going to pick up free views. Like we did this. We started doing this with our MFM episodes. Ben was like, hey, I think I can get more views if we dub our episodes into another language. So now if you're on YouTube and you click the settings wheel and you click like audio track, you could select Spanish or Hindi on some of the episodes. And it's going to be all the episodes soon because we went to 11 labs. We're like, hey, dude, will you guys help us like translate this? And immediately we now get tens of thousands of views a month that we weren't getting before in Spanish and in Hindi.

35:52And there's probably people in Mexico right now that think we just speak Spanish, that we're their favorite Spanish podcast. And if they meet us, they'll be sorely disappointed. it. That's a really good insight. I didn't, I have not seen this video of him. Is he, is this video dubbed? Is this a fake video or an AI video? This I think is real. He kind of looks like he might speak at the, or maybe it's stuff. I can't tell exactly, but I guess that's the point. I wouldn't know. AI tools have gotten so good that I would never know. And I actually tweeted this out. I said, I could a thousand percent create an AI politician that could win over a city election.

36:23Now, of course you can't actually run if you're not a human being, but whatever. And I said, here's how I would do it. You know, I would make a likable sort of guy next door character like this guy. I would create a hundred X more video content than my opponent because Andrew Cuomo is not going to be able to keep up with my AI engine. I don't know if you've seen people who do this. They basically, they create an AI workflow. That's an agent that scrapes, like it comes up. It's there's one agent that's just brainstorming topics. It's like looking at Reddit, it's looking at TikTok trends, et cetera.

36:53And it's brainstorming topics. Then And they have a scripter agent that writes a one-minute TikTok script. Then they have a video generation agent that creates a video that has your AI avatar speaking it, like HeyGen or 11 Labs. Who's doing this? There's people that are doing this. They run what they call faceless channels. They run channels on Instagram and TikTok that get millions of views. Like with B-roll and narration? But it doesn't have to be B-roll anymore because now they use an AI avatar. So they just put a person there. And they're like, cool, I don't want to be an influencer. I don't want to wake up and get ready and have a nice house, all this, but I'll just tell the, I'll just make an AI character that does this.

37:28And you can just create an AI character that does exactly this. And then, but the cool thing is they automated the entire workflow from coming up with the idea, scripting it, recording it, and then actually like scheduling it, posting it, analyzing the data and feeding that back into the engine. Who, what's an example? And it's almost like, dude, if you guys applied your talents to something useful, this would, you'd be incredible. But it's amazing that you could even do this. I'm reading a book called A Promised Land. It's Obama's autobiography. He wrote it, but it's old. It's 10 years old, but I was at the airport and it looked cool.

38:00I'm at the point in the book where he was like, I was getting my ass beat in the election because I was too long-winded. And my campaign manager criticized one of my debates. And he's like, dude, you're answering the question. And he's like, yeah, they asked me a question. I'm giving them an answer. And it's kind of nuanced and it's long. A thorough answer. Yeah, I'm giving like a good answer. And he goes, yeah, that's bullshit. That's not how you win a debate. And that's not how you win votes. You don't give an answer. You're not answering the question. The question is irrelevant. All people want to know is can they trust you with their vote?

38:31And like, are you a brand that they want to get behind? Stop answering the question and tell a story that lets them know that they can get behind you. And he was like, he goes, that rubs me the wrong way. But that's the game. And I will play that game. And there's like a distinct difference in like, you know, we know him now. Obama is regarded as a fairly charismatic, good storyteller. He was like, that was the change. Yeah, exactly. Do you know Lulu? No. She's really cool. She's a very interesting person to follow on Twitter and whatnot. So Lulu, I think she was the head of comms at like Palantir or something like that.

39:05I don't know. Or Anderil, I think it was. But she does a good job. What she posts regularly is basically comms advice, communication advice, PR slash how executives should communicate. And I think Andrew was always an interesting one because like instead of trying to conform as this like boring government contractor, you know, they let their freak flag fly. So she tweeted this out. She goes, it sounds so basic, but he is too likable to lose. Friendly demeanor, smiles with his eyes, seems earnest. Being liked outweighs policies, experience, and nonsensical plans. Quote, I just have a good feeling about that person can override almost anything.

39:38And then Harley, the CEO of Shopify, said vibes. It's like, oh, man, we're sort of vibe voting now. And it's like, actually, we're kind of always. We've always been doing that, man. We've always been doing that. You know, JFK was one of the most. JFK had like a 70 % approval rating when he was murdered. And he was well loved. He was our Princess Diana or whatever for that generation. Like he was well loved and he was well loved because he was incredibly likable. That's like his policies were fine. But it was because he looked great. He had a beautiful wife who was poised. He had a lovely family with really white teeth.

40:13Like that is why he won because he was very likable and good looking. All right, let's take a quick break because I got to tell you a story. Let me tell you about the first time I tried to run payroll for my team. I was using a traditional bank and you know the type. It's got a janky interface. It's built like a 2002 tax form and it was open only during business hours. And I hit send and it froze. They flagged the transaction. They locked my account. They put me on hold for 45 minutes. And then they told me I got to visit my local branch. and that was the day I started looking for a new banking solution.

40:42After asking a few founders what they were using, I found out about Mercury. And so now my payroll is two clicks. I can wire money, I can pay invoices, I can reimburse the team, all from one clean dashboard. That's why I use it for all of my companies and so do 200 ,000 other startup founders. And so if you're looking to level up your banking, head to Mercury.com and apply in minutes. Mercury is a financial technology company, not a bank. Banking services are provided through Choice Financial Group, Column A, and Evolve Bank & Trust members FDIC. so I'm likable might not even be the word because you might look at Trump and be like wow is he would you say he's likable like well he's funny he's funny he's charismatic so yeah I ever tell you about the time where so I had this friend who's like a billionaire successful tech guy and he sends me a google doc one day called the president and I'm like okay what's this and I open it up and I have no idea what to expect I think he might be running for president.

41:36I don't know what this is. And it was basically a pitch for a television show. And he laid out a case and he basically said, if you look at the last, I forgot what it was like, but I'm just gonna make up some numbers. If you look at the last 10 elections, you would look for a pattern. You'd say, is it always Democrats? Is it always Republicans? Is it, does it always switch between Democrat and Republican? Is it based on the economy? Is it based on the person's height? Like if you tried to look for a correlation, where would you find it? And he goes, the highest correlation you could find is that the more charismatic candidate wins.

42:03And he goes, ever since the advent of radio and television when our primary way of getting messages out scaled up like crazy um the more charismatic candidate wins whether this was clinton or reagan it wasn't reagan like an actor or something like this yeah he was good looking he dressed great yeah he's going through history and basically 2020 was kind of the only exception where biden won and i would say biden was the less charismatic candidate than trump that seems to be like the outlier But the guy's case was basically he's like, I think in his case, he didn't he didn't want Trump to win. And he's like, problem is Trump is incredibly charismatic.

42:39He's able to capture people's attention. He says things that are very memorable. He says things that excite certain people and inflame certain people. But it's all attention that he gets free earned media. So he had this idea to create a television show. And he's like, this sounds a little bit silly. But he's like, I think for the Democratic Party, which is the party he was a part of, he's like, I think we need to start nominating more charismatic candidates. If you look at the last few, they have not been the most charismatic. He's like, we're sort of, it's a captured party and we lack putting forward charismatic candidates since Obama.

43:10Obama was one of the most charismatic candidates. And he said, here's what I think we should do. Just like, you know, American Idol or The Voice or whatever, there's The Apprentice even. There's been proven shows where you can have like, let's say an eight to 12 week period where you start with 10 people and then they get eliminated and in the end you have a winner. He's like, what if we did this for presidential candidates? So you would take 12 candidates, not random people off the street, but people that genuinely are thinking that they want to run. And so you'd get Pete Buttigieg and others in this batch.

43:41And he's like, week by week, let's say they go to a small town in Pittsburgh and they're going to actually meet with the car manufacturers there, whatever, some presidential type of shit that they do. And they have to present a plan. And then it's actually like, And the judges for that week will be the car manufacturer people. And then they'll sort of pick which candidate they felt best understood them and was able to address their needs. And week by week, you sort of eliminate candidates. He's like, by the end of this 12-week thing, we'll have captured so much attention and hopefully found a candidate that's like won the hearts of people.

44:12People will know their backstory. They'll know what they're all about. They'll have seen them in a more human light. And we will have filtered out the less charismatic candidates for the more charismatic candidates. He's like, I'm not saying charisma is the end-all be-all. Like ideally at the beginning, you try to screen people that you think are worthy, you know, candidates to lead. But amongst that worthy pool, give a boost to the most charismatic candidate. I thought this was fascinating and I really wanted him to do it. And he had, he was friends with Mark Burnett, the guy who created Survivor and maybe Bachelor or whatever, like a bunch of other major, major reality shows.

44:49And he's like, I'm going to talk to Mark. I think we're going to do this. And I hit him up recently and I was like, whatever happened to that idea? And he's like, I just decided I didn't want, I didn't want an avalanche of problems in my life for creating this. And I decided it wasn't worth, I have a great life and it really wasn't worth the, you know, what it was going to do. And Biden won in 2020. And so he felt like maybe I was wrong. Maybe there's not as much of a need for this. But isn't that interesting, dude? Yeah, that's pretty fascinating. I wish you would have done that. I feel like that would work too.

45:20Like it sounds like it's an idea that I think is easy to make fun of. It's also an idea that I think would be effective at the stated mission. It's easy to make fun of because we don't want it to be true. But it is true. Like, you know, who's a really good example of this is Arnold Schwarzenegger. Yep. He was just he's he was such a charismatic, interesting person. He was good to look at. Like you wanted to look like he looked like even the people who aren't even the people who become our leaders who aren't really good looking. They're still sort of interesting to look at. like Donald Trump is intriguing to look at he looks like remarkable in a weird way you know I'm saying uh Arnold Schwarzenegger is a perfect example of this can I show you one uh last thing which one I think is funny so I found this and I don't I I think I've talked to this guy Brian and he was cool so I don't want to shit on him but I'm more so shitting on people who this line of thinking maybe this line of thinking and uh let's let's explain what it is guy Brian for all He says, I asked, quote, what company is worth less than$10 billion today that you could be worth$500 billion plus in a few decades?

46:23I received 710 answers. Here's the top 20 picks that have 50x potential. And this tweet has 18 ,000 likes. You know, it's probably, I don't know how many views, but like. What year was this? Over a million. This is in 2021. July of 2021. When times were good. When everybody was making a ton of money in the stock market. and he lists uh 20 companies um and uh and these are ones that this guy who i think he has a whole youtube channel towards picking stocks and i don't know if these were his picks necessarily or if they were uh his uh his audience's picks but and this guy has 600 000 followers his bio says i teach investors how to analyze businesses stock fundamentals and valuation teacher dm buffett for premium courses free ebook in my description okay that's that's this guy so this was in 2021 and i just was curious like how it was he right like what's his deal i'm almost positive that not only did none none of them 50x i am pretty sure that most of them are down from down even from this tweet.

47:37Of the 20 that he hand-selected, somebody says, this has to go down in history as the best case of stupidity of the crowds. Here's where we're at three years later. So three years later, only one company is up and it's up 6%. The average company is down 70 % on this list with several of them minus 95%, minus 95%, minus 98%, minus 90%, minus 97, minus 86, minus 99. And of course, Ozan, which was an e-commerce platform in Russia, which is delisted. And I think Open Door is now, and so this tweet that you're looking at, that was even six months ago. I'm almost positive that Open Door is delisted and Virgin is down even more.

48:22I think Lemonade is delisted or out of business. Context Logic, I think, is out of business, which is Wish. all right, we should post an update here. And now we're at five years later. Here's how the stupidity of the crowd is done. And my point in bringing this up isn't the actual results. The results are not good. That's the summary. The results are actually really bad. But it's just crazy how hard it is to pick winners. It's very challenging. This guy has 600 ,000 followers. I assume that he does this all the time for his job. and you still can't nail it. It's just so challenging. Is it though?

49:09Okay, I'm gonna tell you what I did. Back in 20, I graduated in 2010 and I started my stock portfolio, I think right around like senior year of college. And I bought, I believe, six stocks And my dad was telling me just buy the index. But I'm like, dad, I got this. Right. I had the Dunning-Kruger effect. I thought I knew a lot more than I knew. And I think I bought five or six stocks. How much money? I mean, I didn't have any, but I had$25 ,000. I had probably$60 ,000 total. That's a lot of money. Well, I guess what I'm saying is, even though the results were great, it didn't, you know, on a very small base that doesn't do a whole lot for you.

49:54I bought Amazon, Google, Facebook, and Tesla. What years? It was basically 2010, 2011. Oh my God. I bought those stocks. So I did the thing you're not supposed to do. I picked. I didn't pick with any sort of brilliance. I was like, these are like, obviously, just seemed like the good companies of the world to me at the time. And I did make a mistake because I sold Tesla earlier. I sold it probably 2014 or something like that. So that would, and that would have been a much bigger return. So, you know, I think I still, I still am in the case study of like, it's really freaking hard to do. Even if you buy right, you'll sell wrong and shit like that.

50:34Like I bought Bitcoin early and sold some early and then bought it back again and sold it again, bought it back again. You know, I'm not saying I'm smart. I do dumb things. But I guess what I'm saying is sometimes it's actually kind of obvious. I think one of the reasons that what this guy did was so hard was he was looking for a 50X. He's like, what company small today that's going to be massive tomorrow? Which of course, if he knew, that'd be fantastic. but there is a simple way of looking at things. Like right now, for example, I put my money into what my own little AI index. And I didn't spend much time on this.

51:02And I'm going to go back and do a little more research, but basically it's very obvious. I think at this moment in time in the world that AI is going to be a very big deal, that the biggest winners over the next five to 10 years are going to be ones that are benefiting from AI in some way, whether they're NVIDIA, they're selling chips, whether they're companies like Google or Facebook that are able to use AI in order to make all their services better and slash tens of thousands of employees that they don't need. Shit like that, right? Like, I think it's pretty obvious that AI is a big deal. And I think if you put in the time to just think about, like, instead of buying the generic S &P 500, like, what's the equivalent of the AI 50 or the AI 20?

51:43And it's like 20 companies that I believe are well-positioned. It's hard for them to lose given the AI tailwind. and again it's a little bit naive because you might say well nvidia today they have 90 gross margins and that they're going to get competed away and blah blah i'm not saying it's like easy i'm just saying i think an index of ai of ai focused um companies that doesn't mean companies that are like you know all chip makers or whatever but i'm just saying companies that are going to disproportionately benefit from ai and are going to adopt ai and get the benefits of it i just feel like that's an obvious thing today yeah that's the version of me in 2010 being like I don't know.

52:19Me and all my friends use the internet like crazy. I think I should just own the big internet companies. That seems like a good idea. The issue is not can you pick winners? Because I think that when we saw Facebook was valued at when it was hit a low, I think a year and a half ago, everyone who has ever bought any Facebook ads was like, yeah, this is undervalued. This is a great company. The issue is the amount of times that you have lost using that same logic. like and so if you were to take a lump sum of money and you would buy and sell like occasionally or rather often versus just letting it sit and ignoring like if you average i'm actually going to go back and just backtest this for me me specifically and i'll publish my result i'll bring up i'll bring it to the next episode because i i'm curious i and i would say i think there's a more likely chance that i buying and selling has buying and selling and picking has underperformed I would assume that to be true.

53:13I think there's a chance it's not been for me, but I really want to go get the exact answer because it'll include, I think I should include crypto because I think that was kind of like buying and selling, picking. And I want to see the returns of if I had just invested the same amount of money in the same times in just the index versus my picking. I just want to see for myself what I've done and give it honest, be able to look reality in the face of like, you know, how's this working for me? So let me tell you this. Let me tell you this crazy stat that Anker told me. So Jerry Buss, the guy who owned the Lakers, they recently just sold the Lakers for$10 billion.

53:50So he bought the Lakers for$67 million in 1979. And he sold it for 150 times his money at$10 billion in 2025. And yet, had he taken that$60 million and instead just invested it in the S &P 500, he would have been able to have had$13 billion. So he would have had more money. That's stupid. It's not stupid. But listen, the top comment was, think of all, it's not incorrect. I mean, it's just math. It's acting like he didn't take money every year in gains from the business. He could have lost money every year. The Lakers spit off cash flow every year. Do they? Most winning teams do not make a profit.

54:31Most winning teams, it's 100 % true. They could show paper losses. I know team owners. I talked to them about this. I was like, is this true? do you guys actually lose money on this thing? And they're like, no, most years we're making money. Occasionally, if we're way over the luxury tax, we get a huge penalty. Then, yes, we could lose money in that one year. But no, we're not idiots. We're not burning hundreds of... Like people say like, oh, they lost$200 million. He's like, I'm not losing$200 million every year. The top comment was like, yeah, but are you adding into the P &L all the women that he was able to get because of him owning the Lakers?

55:04Forgetting the joy of owning the Lakers, which is already, congratulations, you own the S &P 500 versus you own the Lakers. Forgetting that, the Lakers are a business that has been generating cash. And so all he's taking into account is just the exit price and none of the 30 years of cash flow. Well, I don't really look at the facts whenever I'm making a statement. But I think it did make for a good headline. And it is kind of stunning what, I don't know, 11 % compounding over 40 years actually does, It's pretty crazy. I like doing this. All right, that's it. That's the pod. I feel like I can rule the world.

55:41I know I could be what I want to. I put my all in it like no days off. On the road, let's travel, never looking back.

55:53Hey, let's take a quick break because there's a quote that I love I want to read you. It's that we shape our tools and thereafter, they shape us. And as an entrepreneur, if you're using a bank that was built in the 90s, You're operating like you're in the 90s. And trust me, I've been there. Clunky portals, random holds on your money,$50 wire fees, and then being told, please visit your local branch. Well, that's why I switched to a different type of banking solution, Mercury. It turns your financial chores into a smooth workflow. You can do wires, invoices, cards, reimbursements, two clicks, and I'm done.

56:23If you're already using Mercury, respect. If you're still using one of the old big banks, I got questions for you. So go visit mercury.com and give it a test drive. Mercury is a financial technology company, not a bank. Banking services are provided through Choice Financial Group, Column 8, and Evolve Bank & Trust members, FDIC.