 Welcome back to the James Swannick show. It's been two years and two months since our last episode and Wow, has the world changed or what we're in the middle of the corona virus? quarantine shut down whatever phraseology you want to use there and Yeah, life as we know it has changed Unbelievably since two years and two months ago We're gonna get straight into the Thai Lopez interview But just before I do just a couple of little things. So I'm in Brisbane, Australia at the moment I've been living between Los Angeles and And Brisbane, Australia, but when the corona virus here, I decided I was gonna spend time here in Brisbane. I'm here in Tim Galper and the one of the inner city suburbs of Brisbane on the east coast of Australia and You know, it's a crazy time. Obviously the social distancing going on. I'm keeping fit as much as I can I've ordered an in-home or an at-home gym Sonia lifts some weights again. Finally, I've been running in the park and lifting myself up on children's playgrounds before they banned Actually even being able to go into the children's playground doing push-ups and sit-ups and things like that and just trying to stay active Thankfully none of my Family members have had COVID-19. One of my good friends actually had COVID-19. Thankfully, she's now better and recovered and she's well She was she's in her 30s. So I guess the life-threatening Danger of that wasn't great. So I'm so happy and blessed that she is has recovered and as well and You know in this interview with Tai Lopez here, Tai really talks about where he sees business going the stock market How to stay healthy how to stay fit What friends you should have around you what friends you shouldn't have around you and Yeah, I'd love for you to share this share this episode like or subscribe if you're watching on the YouTube channel a couple places You can find me. I'm on Instagram and at James swanik YouTube channel is James swanik Facebook page Alcohol freedom formula if you're into when you quit drinking obviously, I still got the swanis blue light blocking glasses business I'm wearing these blue light blocking glasses here now You can check that out at swanweeksleep.com. Send me a DM on Instagram might be the easiest way because I tend to reply to most people there and Yeah, enjoy this First episode back after two and a half years or two years and two months being away from the podcast Enjoy this episode now with Tai Lopez. I want to introduce you now to our next speaker or our next guest And let me just introduce him by saying saying this I met Tai back in 2013 Went over to his house played a little bit of backyard basketball with him We were introduced through we were in a mastermind group together at the time And then I remember not long after I went and did this 10-day silent meditation called vipassana And when I was in this to 10-day silent meditation One of the things that I that came up for me was like, oh, I really like that Tai Lopez guy And I really like his cousin Maya when I get out of this 10-day silent meditation I want to actually spend some more time with those with those two because they were they were good people I liked them and then about four days after I got out Tai texted me and said oh I'm having a little of two-day event in my place up in the Hollywood Hills Would you like to come and at the time? I wasn't making much money. In fact, it was hardly making any money at all I was trying to figure out how to build a business and to come to Tai's event from memory I think it was about $1,500 to do it and I was like, oh man I'm I'm the guy who's used to going to conferences for free and knowing all these people who invite me for free and I'm like I'm I really gonna drop $1,500 to do this and I did and then I don't not only did I drop the $1,500 to go and be in That room and to hear him speak for two days at the end of it. He said oh By the way, I'm happy to coach anyone here for 18 months. It's 25 grand who he is interested and I remember my hand Going up like this. It was like I was I was I was mentally trying to keep my arm down But at the same time something was just compelling me to put my arm up and I did and I didn't have the 25 grand I just like put my hand up. Yeah, I think I'm gonna do this because I was just you know I've been trying to figure it out on my own without a coach and without a mentor and I was struggling and I ended up transferring $5,000 US dollars, which was about 32,000 Australian dollars at the time This is the exchange rate kind of killed me from my St. George Bank account in Queensland to Ties Bank of America account in In California and was on Halloween actually October 31st 2013 and my dad I remember at the time saying who is this online? Guru you're spending your money with who is this scam artist guru So he really did did not approve of this investment But I have to say now and I and I knew right away. I mean I felt terrific about the investment at the time and now 2027 years later I can now look back with confidence and say it was singlehandedly the greatest investment that I ever made because I've created two Really great companies that I love that really help and support people the reason that all of you are on the call right now Is because of one of those companies? I'm coaching people helping people quit drinking helping people sleep better I've met wonderful people including Mark Dahmer who's on the core now who I said inspired the whole idea of me or introduced me to the blue light blocking glasses business idea and You know Ty was Ty was good to his word. He coached me. He supported me that led to me being a salesperson for him in 2015 and I sold some of his programs over the phone for about about a year and a year and a half I spoke on his stages. I got to meet all of his family and it kind of progressed from You know a mentor mentee relationship to now I consider Ty just a wonderful friend first and foremost and you know I've seen how he is with his with his family I've seen how he is with his team like he's built an amazing company culture within his organization and he builds Businesses that genuinely help people and I think that's one of the things that he gets Misunderstood for because a lot of people look at him and say well There's Lamborghinis and there's pretty girls and some of his Instagram videos and things like that That's actually genius and I'll have him explain that a little bit later on But it's so much more than that. I mean he's probably inspired I would say a hundred thousand people to just pick up a book and read and and he taught me the art of reading a book a day and that If I only took that from him that has just propelled propelled me through life just by being able to digest knowledge in a very quick digestible manner and You know, he's created millionaires He's he's given hundreds of thousands of dollars to charities. He only builds businesses that help people I'm an investor now in four of his businesses And he is an advisor to my sleep company and he's just an all-round good person and the people that he surrounds himself Are really good people as well and some of them are just you know, we'll be I hope lifelong friends and Ty I just wanted to throw over to you now and just say thank you so much for giving your time and for Sharing your expertise here on the call today. I know everyone's excited to hear from you and Yeah, I thank you for your mentorship I thank you for your friendship and over to you Well, thanks, I appreciate it man been a long been a long ride here James We've known each other coming up on a decade. I was getting close. It has to be so I appreciate you having me here. And yeah, I'm thankful for the friendship and and Enjoy watching all the stuff you're building here. So glad to be a part today of The new world of coronavirus conference it zoom For those of you who have been betting on e-commerce, thank God that you bet on e-com for those of you have bet on some other paths It's time to make the switch to e-com or double down So I'll just I want to do some questions and answers But one of the things that I'll just say kind of out the gate to kind of jump into some What I'm seeing in the world So I I now so I start businesses from scratch or you know, we've got different businesses But I also now in the last couple years have started doing some M&A transaction stuff So buying or bidding on big companies Some of them the bids we win and some we lose. I bid on American Forever 21 in January I didn't win the bin as a 3.5 billion dollar revenue company Simon properties one Which is a very large company, you know, they are but so I've kind of been pulling back curtain Not just on entrepreneurs like we are but also how big corporations are working forecasting the future of you know business, I guess we can say so What I to summarize to give you the short version Abandon the ships if they're not e-com and go e-com Now I've been saying this for a while and now I can say it with infinite more infinitely more kind of certainty so for example I bought a company called Dress Barn in October the clothing company. It's a 57 year old brand I'm gonna share my screen too. I've got some of this like That way you don't have to just look at my face. That'll get more into look at me too long here I'm not a model like James and Mark So Here is a I'm on my farm by the way. I'm on a farm. I'm not in a big city right now I'm in Virginia So if my internet's a tad bit slow bear with me, I've got a satellite dish here So this is a company that was closed going well. They weren't going bankrupt yet I this wasn't a bankruptcy auction, but I bought them from a Sina publicly traded company Here's a little blurb that I did and they did 740 million a revenue last year We shut down the stores and went all e-com a lot of people if I were crazy In that industry the clothing industry. It's a very large, you know, basically a trillion dollar industry if you look globally People are watching us and who are these? whippersnappers coming in and shutting down 650 department stores Even though companies realize they need to shut down stores. They're not shutting all their stores. They're reducing so for example Forever 21 their new plan was to go from 500 600 stores to cut down to around 2 to 3 maybe 400 stores. So just a 30 40 50 percent reduction So for everyone on here, I'll get to know you guys hopefully as we talk But I guess I'll just start by saying the future is here. I Don't think I You know just to speak on this particular situation, which is coronavirus in and of itself I think the way so let's think about the last big scare in the US Now when I started I had a my second mentor was this guy named Alan nation. I was around 19 years old and one of the first lessons I ever remember him telling me is he said tie Every single 12 to 20 sorry 8 to 12 your cycle you're gonna experience some form of a recession Now if you've been studying, I should have a little slide. Let me I did another talk on this Let me see if I find it and I will share it with you guys. This is a presentation that I did I'll just share one On the slide from it that I think you guys might get some value on but I'm a student business history And there's been 47 US recessions Little hard to exactly count but some of the common Numbers 47 this will be we are in the 48 by the way. This is a recession It is remember recessions lag, right? You need two quarters of contraction And which we we will have. Okay. There's no if and or buts the Vegas odds by the way on on Whether of your recessions around 97% so That's a pretty that's a pretty solid Vegas odds and but there's been 47 48 the last one was 12 years ago started in 2008 Technically it ended in March 2009. I think but it lingered for years now here's an important thing for everyone understand Businesses psychology. You really want to be a good entrepreneur every good entrepreneur at their core, whether it be Jeff Bezos Mark Zuckerberg Bill Gates at their core. They're really Psychologists and people don't realize that because you have to be able to tap into consumer sentiment So you can see Mark Zuckerberg's talent as a psychologist He realized in about 2010 2011 that Facebook was losing ground and that He should spend one billion dollars on Instagram 2012 pretty ballsy move And then he bought what's that he understood the consumer sentiments So important for everybody here when we talk about recession to understand It doesn't matter whether you believe the coronavirus is legitimately Worth shutting down the US economy or global economy doesn't matter forget our politics for a second. What is happening It's similar. What happened. Oh wait an entire generation is forever traumatized So before 2008 the American dream was what? American dream was home ownership I have a lady who works for me who and She moved from Cuba and last month she she was about to close on a house and I told her hold off It's good thing. She listened to me because now real estate prices are gonna plummet by fall But but for her coming to America from Cuba American dream was buying house, but in 08 the trauma six million people losing their homes Forever changed to the younger generation's perception of home And now no younger generation person that I know gives a shit about home ownership At all, I mean, I don't mean one person Sub 30 year old that thinks it's important to buy home So what happens is whether 2008 was actually that bad or not doesn't matter It's scarred a generation what you're seeing 12 years later recession some every eight to 12 years in the moral world You are seeing What I put believe will be a permanent scarring in a generation so people will be left likely cruise lines Are gonna be a thing of the past now. They may revive in some form of fashion just like home ownership has revived It's not like nobody buys homes, but there's a shift in a whole generation's Appetite for buying homes because of 2008 in the world we live in now this shift is Gonna be away from live music concerts with 18,000 people in one building. It's going to be a way from Shopping centers where you're packed in in a enclosed shopping center with You know Thousands of people walking. It's gonna be a little bit. I even know what airfare Going to wallet business world movie theaters. I think AMC May not survive the founder of AMC lived on my block in LA and Beverly Hills. He's a very wealthy guy I think he sold it, but I don't think AMC is gonna make it through the largest movie chain People are gonna now that shit was already happening with Netflix, but this is the You know nail on the coffin so to speak So for each person on this call, you know when we talk about you know the four pillars of the good life It's something I've been talking about for a long time. Hello 12 love happiness I kind of started with the second pillar wealth just because this is an entrepreneurial Forum lean form. I would guess We got to go Forget if we were 80 or 90% of something behind the e-com Now's the time to go to 110% If you are thinking of building a business that had a physical component to it like You are going to build a restaurant chain that also allowed home delivery Forget the restaurant. Just do the home delivery have the kitchen behind the scenes Here's something interesting, I'll show you this let me share my screen one more time Okay Here is something this is I'm not sure when I posted this I think February 28th Let me go here, and I just want to show you an example of a business. I Tried to buy blue apron in February. I made a move the Washington post New York Post wrote about it and then Before I could close on it because they were doing very poorly a two billion dollar brand blue apron had dropped this market cap was 25 million Okay, so it had fallen from grace 80x, okay, and I Because I believe in doubling down on e-com. I was like no this business Has legs. It just needs the management is kind of poor. So here. I think it's this article The reason I'm showing you this is You know what happened to this company? Because of coronavirus. Let's look at their stock real fast. Let's just look here blue apron Oops, so if you look at the rise of it by the way, if you had made a stock trade When you saw my article would have been a good time to make one you would have You'd have made about 8x on your money that's dropped recently, but look watch this last well Let's look at the last six months. I'll show you so here Let me change the six months. Okay, right here is when I was trying to buy it It was at $2 in 10 cents to share It peaked here March 18 March 18. By the way, who knows what happened on March 18 That was a damn worst day in stock to a stock market I mean March 18 everything plummeted except blue apron went to 16 bucks When the $16 on the worst day or arguably worse than 1929 That's what I'm saying the e-com revolution is here blue apron No restaurants who delivered your door now They still have intrinsic problems in the business model because they lose money on every meal that they ship but This is how you need to be thinking in the blue apron world in the Netflix world Not in the blockbuster world not in the you know shopping center world even real estate, let me let me briefly talk about real estate because Probably some of you are real estate investors So ideally everybody on this call had been buying real estate in 2008 2009 2010 As Warren Buffett says when everybody's fearful you should be greedy and when everybody's Greedy you should be fearful 2008 9 10 everybody was fearful I hope each of you are greedy and picked up how you could pick up houses in Las Vegas for $15,000 You could literally buy for 10 million bucks You could put put together a portfolio rental properties for $10 million and then I mean your cash flow would be just Buzonka I would be it would well think about it. Let's say you get average 25 grand a house. So you can buy 40 houses per million 10 million if you use leverage was not out It was a little hard to leverage it but I'm just saying hypothetically you buy 400 single-family homes all in Vegas and And I'm oversimplifying it wouldn't have been this easy, but just go with me here Let's just say by now. I mean 25,000 you instantly have positive cash flow, but let's say you're renting them out for 700 bucks a piece. Oh, it's just a thousand You'd have $400,000 a month cash flow from a 10 million dollar investment That's a 48% ROI on your money. But unfortunately, what's everybody been doing real estate? my real estate in the last three years because every person on Instagram and like you can't lose money in real estate But you can't lose money in real estate and people will lose money and there is no asset class that you can't lose money in and Second you hear somebody say there's an asset class. You can't lose money Stop they lose all credibility. Just move on. It's like if you meet somebody that says, you know They believe they're Jesus Christ just move on. It's like they got mental problems. They're they're ill-informed so 2016-17-18-19 everybody's been buying real estate now we find ourselves in 2020 and Boy, there's hell to pay when you are greedy when everyone else is greedy my friend Unfortunately the law of the jungle is you will be punished and I wish it wasn't that way It's on my law. It's I call the law of the jungle the rules of life and the rules of business. So if you bought real estate in the last three years and just Be prepared be prepared. Hopefully nobody leveraged themselves out too much. There can be capital calls from banks There's can be all kinds of weird things that happen, but the opportunity will be Shortly coming in the next Six months, it's hard to predict exact dates, but we're real people are gonna have to offload multi-family properties all kinds of stuff and That should be your time to be an acquisition one. You got to go you got to be contrarian to make money So, okay That was a little talk on the second pillar health well-loved happiness I'll try to talk a little bit on all four because James said this is you know the theme is balance and stuff like that Any questions your screen as well on the second just Unshare your set again stuck on the blue apron. There we go. Thank you. Yeah Yeah so any questions on Anything related to business doesn't have to be about what I talked about I'm trying to break this up and talk, you know for 15 or 20 minutes on each of the four subjects Dave Kelly ask you question Ty Given that the last couple of recessions that there's the Drop in the stock market's taken. You know has happened over, you know, 12 to 18 months in the case of the financial crisis You just mentioned April then is a good time to buy are you saying there that April you believe was is the time the market will bottom out or That it's just gonna offer like the first round of cheap pricing So the stock market Yeah, I was talking a little bit more in real estate. I think will be this fall in like October The stock market here's what be careful. I think there's a what's called a bull trap happening so the stock market dropped and Now the government's putting money in in the US fiscal stimulus and you've seen the markets come up a little bit There's a lot of retail money jumping into the stock market because people are greedy and they're going oh, you know There's volatility and then my friend told me to buy Delta stock and then shot up or whatever I think there's gonna be a big one more big correction is my guess that could happen in the next three months meaning So the the Dow Jones went to 18 thousands around there I think it potentially goes to 15 that like a precipitous freak out is still there So my advice on the markets is it's a little tricky to time it I think that just be careful if it goes up over the next month or two that you don't keep bye bye bye bye I think it's gonna drop again. So you can buy a little now, but also I think be prepared for another drop That's significant drop nada. I think what we're experiencing now people They'll don't quite get it. They're going just let's think about this. What the world Let's just take one step back. I understand the stock market is just basically Consortium of businesses spread across the US small medium and large We got about 18 to 30% unemployment realistically not everybody's filed unemployment, but it's high Where are these people gonna go? Let's think of the reverberations. What's the first thing people what's people's biggest bills? Average person it's rent or mortgage. Okay, so first thing people are gonna start cutting They're gonna move back in with their mom and they're gonna stop paying their landlord or stop paying the mortgage So foreclosures have actually been stopped evictions in New York. You can't evict for the next 90 days The problem with that is all these landlords that use leverage to buy the property They can't go 90 days without receiving rent So I think a domino's gonna start to happen Starting with people not being able to pay rent. It's already happening a commercial real estate These land like Cheesecake Factory said they're not gonna pay rent to anybody imagine losing Cheesecake Factory This is a core tenant Across a portfolio of thousands or would I don't know how many stores they have but they're a big, you know, they're a anchor tenant So they don't pay and so that there it begins. It's funny. It may begin with real estate just like 2008 again So I think here's what I think you should be doing Play stock market a little bit Focus right now on building e-commerce brands So this is my advice to e-commerce. So I was doing a live call for some people in my VIP program And let me just show you something. I'm I stumbled across something I think this is gonna give you guys a real concrete thing that can be done right now So I'm gonna share my screen. I'm just gonna show you Something kind of cool. So if we go in here, what's food that what's the most common thing people need now? They're having delivered food, right? So Who shelter water most people have shelter still and most people have water that they eat food. So let's just say dried beans Lentils faba beans, whatever. So you want to stock up on me? All right, so you go Google has these shopping results. Okay. These are people who bid on I'm just gonna go into Google shopping. All right, so We see these companies Okay, rebel smuggling galactic imporium Okay, look they're in here like five So let me just click on rebel Jack rabbit great northern beans Okay, pull this sucker up. It's fascinating because I Basically pieced together. I think one kid in India is making like a million dollars a week Because I as far as I can tell these are I know how to tell when sites are linked together He's done a good job of hiding them and making them look like separate companies But I'm not that easy to fool. So this Template here. I'm not sure it's on Shopify. I don't think it is If you go to one simple tool if you go to the about page and it doesn't have a photo It's oftentimes Offshore company because and one of these websites has horrible English and It literally sounds like somebody use Google translate to create their about us page So this is a random faceless person. He got a little fake office in Stockton, California And he's look at all the things he has I Mean this guy and he's showing up number one on Google shopping So going back to my beans thing here Look out of stock how much it wasn't out of stock two days ago three days ago, and I look so this guy has built Galactic apport if you go into herbs like I don't know what's an herb you might want to marick Okay, a lot of people it's like anti-inflammatory a lot of people are trying to self-dose and things like that Let me see if I can find those guys. Well, let's just click on one of these a quality organ I look through like eight links and was all this same person and I was like I call my business partner Alex I said, oh my god. Yeah, this is probably the same thing too This is like these generic sites people are popping up their drop shipping food and Let me see something Let's just go on Okay, this one's a little different so that's good finally I found one site This is actually looks like shop like but here's a dude. I Don't know who that and I guarantee you this business has not okay in 1977. He started a small store But that was not when he went online So This opportunity to just come in here. Don't be intimidated by these guys Herbs right now you come in let me find another one Smarter curcumin somebody made a domain name just for the herb somebody's buying eight dollar domain name They see their volume on curcumin they make a site just on curcumin and once again People are buying everything right now. So here's a company I own Right here. It's called farmers box and this let me refresh it It's just crushing it to the extent that I I don't know me and Alex. I've never seen a business grow this fast It's wild But we can't even get supply as our own if we didn't have supply Like we think we could do like five hundred thousand dollars a day right now I'm nearly in bugs the day. You'd have a three hundred million dollar revenue company right now Maybe not three hundred million But a hundred million is not weird out the gate from start Zero to a hundred million This is a business we launched a few years ago, but we didn't actually launch it We just built it and we ran out of time and so we have we just launched it Really took with ads two weeks ago and now we got new prepared meals I haven't even seen this looks kind of nice. So here's an example of just going all in on e-com Boo delivered to your door. So by the way, my definition of e-com is There's no physical store Experience just so you know because sometimes people get confused as to what e-commerce is so you can sell pencils in a way Even this video Conference and James is doing I consider this e-commerce. So zoom consulting e-com No building no physical. We don't need to meet at Starbucks. We don't need to meet at an office Purely that's pure e-com Okay, one or two more questions. I hope that didn't I didn't exactly I the stock market one is such a complex one We'd have to have another long talk, but but Thinking you think the stock market gets worse before it gets better is what I'm trying to say any other okay Here Anthony Silva DM or chatted So how can we pivot our marketing to increase or keep our sales consistent? Regardless of the fear-spreading spending caused by crime. Okay, the good news is Ad rates on Facebook and YouTube are plummeting by the day So Facebook and in Google are basically a modified auction system. I Saw this in 90 in 2008 where it was I'm the recession came in 08 in my businesses Did better than they'd ever done before and I couldn't figure out why and I realized What's the first thing carnival cruise line cut? When they got hit by this coronavirus you think they spent any money on branding videos on Facebook. What is the first thing that? What's another bit Delta Airlines you think they're running a lot of commercials right now no so that Facebook auction warehouse of Space for you to get the costs have gone down literally. Oh, I think it's about 50% down now And it may go deeper. So this is your chance To get your Facebook and YouTube ads going to So I what's going to happen to the legal professional field Kimberly Craven asks great questions So we if you're in that business, it's like, how can I go in all Ecom? How can I make my website and my branding? I don't know what type of law that you practice But let's say I'm a lawyer and I practice. I don't business your basic business general business I help people form LLC. I'm building an ad I'm building the funnel on my website. I'm rebranding my logo. It would say, you know, Tai Lopez The zoom lawyer or something like that the virtual lawyer That's what I'm building out and I'm like listen. I don't have fancy offices. I Partner with the best lawyers around. We don't have you know, most law firms have big skyscrapers You're paying that for that in the fees. I'm Tai Lopez the virtual lawyer. I Charge You know a flat fee. There's a lawyer. I work with that. I love that does some of my law and some of my business He charges $2,000 a month flat fee Talk to him as much as you want. I get is what's that? I get his phone never met the guy in person I have other high-powered lawyers that I've been at their skyscraper in downtown LA going wow Now I know where all my fees go to they have like the top floor of the tallest building In downtown LA. So that's your opportunity. You're the e-com. I mean, sorry, you're the virtual another one You're a lawyer switch the e-com law people need their terms and service condition change. They need their compliance They need their website overhaul. So I'm just switching to this remember this my favorite saying is it's not the smartest Or the strongest who survive? It's the most adaptable Let me do a real speed around then I'm gonna switch top stance on the future crypto industry crypto the problem with crypto is Nobody's really building block people took a lot of money in ICOs and then just ran with the money What happened with the 1.3 billion that people put into the telegram ICO? It's gone People stole the problem is there's a lot of theft in that industry. So I still like crypto I still but I'm not putting all my money in crypto. I never did. I never put all my money in anything You know, I didn't go to college. So I have to rely on non fancy business things like buy low sell high That's the extent of my business experience or don't put all your eggs in one basket I have a lot of people I deal with I was just in the ivory towers in Manhattan with one of the biggest private equity guys these guys manage the Yale endowment fund seven billion and They're highfalutin and I'm just like but they're hurting right now. So just remember sometimes simplicity laughs last Okay, so I think crypto. Yeah, don't go all in on crypto But I I like Bitcoin the best has the best brand name. So I like MLM companies that are ecom. Yes, I Have thought of I've been for last five years I've been thinking of dipping my my foot in MLM just because I don't think it's that bad I think it's just a bad name the main place people go wrong in network marketing is expecting that they're gonna make a million dollars in two years most people make Zero or whatever, but I think it's a great way if you don't know what to do One of things goes out to you tell me when you don't know what to do do anything Even if it turns out to be the wrong thing momentum momentum if I was unemployed right now where I was on Didn't know what to do. I joined some MLM just a part-time thing just for the camaraderie the business training and most MLMs cost $200 to get in college Stern business school at NYU is the biggest damn fraud I've ever seen now that I've looked 30,000 dollars I know this girl and I was like can I see your curriculum? So she's like second or third year. She shows it She's doing her homework. I go You actually know understand one cock. It was about balance sheet statement castle of P&L's she's like no, I just cut and paste I like Google it So I'm like you're just sitting here doing hours of homework no concept I was like, do you know what a balance sheet is? She's like no idea and I go how much is this degree? She's like 30 grand. I said, well, thank God you're not spending 30 grand. She goes no 30 grand a year by the way colleges are going to get Smashed through this thing people aren't gonna be able to pay college I'm working on a competitor to college an accredited college. We're trying to do but that's another long story. So MLM great cheap education thing. It doesn't cost 220,000 to get into just don't have too high of expectation, you know one above it says a secret to good marriages Secret to good business partnership low expectations So when you get into MLM with high expectations, you get ruined. Don't have high expectations here about this good role of life Anything new don't have high expectations Sometimes I met this guy was like time at this Should I take on this dude as a business partner? I said, how long have you known him one month? I said no Did the basic rule of life is low expectations for anything new in your life? High expectation if you've had a business partner for 10 years, you should have very high expectations, but MLM low expectations crypto hasn't been around that long Don't have too high of expectations if it works out better great Tire all of retail business in a death spiral. For example, one of my business has 10 Franchise salons with one-on-one services in a clean highly hygienic environment Scott Schubertur Scott I'll tell you like the godfather in the movie the godfather He goes I work for a man who likes his bad news immediately. So here my bad news is you can have a rough Time of it. Um, I don't see people rushing back to salons. Although I don't see it going to zero either Just like home ownership didn't go to zero It's just the ship So if you were predicting that those franchises would bring you 10,000 a month you need to lower the expectations the 4,000 and if it's still a good business for you to be in it 40% of Optimum then you stay in the business But you just you can't have high expectations right now in any retail environment people aren't gonna go Obviously look people are gonna need haircuts people are gonna need their nails done when but I just saw some news Oh, we might there. Here's my quickest summary. We got two potentials for this coronavirus one Like some virus it kind of spontaneously disappears that happens a lot. I'm on my farm here Sometimes you'll get parasites that come through and then they just are gone and you didn't do anything for him So best case scenario this thing spontaneously disappears If that doesn't happen this thing gonna be around for a while today one of the biggest financial guys died I forget the guy's name the CFO of a huge company. He died The German finance minister put his head on the railroad tracks and committed suicide today Boris Johnson has coronavirus. I mean this shit ain't going away like we think even if it's just a little flu like some people think so Ratchet down expenses as much as you can call up your landlords to like the world's change Force majeure That's a clause that basically says when shit happens you can massive events of you know of Acts of God level that you can go. Hey, give me a break negotiate talk to your staff Cut your staff early if you have to it's better to cut early. Unfortunately Cut early and deeper than you think you need to and people will understand right now Where I thought some big fitness center going forward compared to small studio gyms are gonna be tough and Nobody going back to a sweaty gym right now. I Mean, it's like hey, you want to go around people with bodily fluids on the venture. Just don't sell Home fitness equipment by the way, I'm giving you as a business tip that I thought I'm doing but I'll let you guys have a head start Everybody I know my brothers. I'm like, are you lifting weights? They're like, no, I only have a 30 pound weight at home Arm's fortune a girl made his first million Shipping weights Bands I saw a guy on Instagram with bands a band workout is Promoted Instagram ad had six million views, which means he was able to boosted the six million. That's how profitable selling bands Build a band site the band workout hire if you're not in great shape All these personal trainers out of work. They're like, yo, I'll pay you You know a thousand dollars of this business works for you to be the face of this that kind of thing It's why you gotta be thinking I'm selling organic gluten-free food product a handful of whole foods instead of Amazon econ Connie FBA now. Oh You can do Amazon I would also yes, I would also do Shopify. I would build both they've killed me What about blockchain a problem of blockchain? These guys haven't built blockchain before corona. No one's ever built anything. So I Think drop shipping is dead. I have a buddy who owns a pretty company for e-commerce business. No, it's just dead Maybe from coming from China. Well, I have you know, Dresspawn this company. We shit We're shit. We're changing our manufacturing from China where the clothes have been made China Vietnam Cambodia Layout Laos and we're ship. We're shifting to Los Angeles and believe it or not Costs are almost the same So How do you feel about in Do you think local buying of food like market gardens are going to increase? Yes already has CSAs all those food deliveries. How do you feel about industrial real estate more specific commercial with the only commercial estate? I would touch I'm gonna give you guys a tip here that I haven't told anybody before it's only one Kind of commercial real estate to touch right now in my opinion Warehouses and distribution whoever could if you own those right now, you can be rich Rich buy up where if you want to put the I don't really recommend putting money in commercial real estate Don't do it in hotels. Okay. Do not do it in strip malls unless you think I looked at a strip mall down the road for me It's over 21 million at its peak before corona was 4 million. It's funny. I told my business partner Jerome I said I'm gonna offer this dude $500,000 Now they wouldn't take it pre corona But right now they might take if I get that for 500 It'll be a steal of the century because he makes a million dollars in rent just from McDonald has a pad on there in Red Lobster, which has McDonald's drive-through so it's right even if I'm gonna buy for two million So there's a few commercial real estate if the price collapses I would buy but right now if you have a friend who has a warehouse that he wants to offload He doesn't understand what's gonna happen. Everybody's going e-com And they're gonna need Distribution centers, so if you own it can really be in the middle of nowhere It's great if you have some in New Jersey if you have some outside Modesto, California, you know Fresno But they'll be everywhere people are gonna be shipping. So that's that is my opinion. I could be totally wrong But that's where I bet my money right now without a doubt And if you own property see if you can convert it to some kind of distribution they call them 3 pls 3 pl third-party logistics That's a great game to be great game to be in right now 3 pl Any tips in the medical field a coronavirus vaccine? I would start you're gonna probably get arrested if you Say you have a coronavirus vaccine build a supplement site that has some supplements That be very careful how you word it, but you there's a way to word it where you say this helps boost immune system Supplements go all in on immune system boosting. I have friends doing that crushing it right now What about investing in bicycle companies alternative to commuting gym memberships be careful bird scooters is Probably gonna go bankrupt. They just dropped them. You know, they raised at two billion valuation They're raising out four hundred million. They're in a death spiral I don't know what's gonna happen with transportation. I don't I think people like cars. Honestly, you're locked in People driving around LA and cars Six six foot barrier. Maybe I wouldn't I don't want uber pools not coming back right away What about I take it the dental profession is also unpredictable. I Think Dennis will be one of the first people let back in if you have a toothache, you know how paint You know people will kill themselves over bad enough to think Dennis I think will be literally almost the first people open. So I think Carmen Dee Dee if you're a dentist, I think you're gonna be the first I don't know when it is, but I think you'll be the first one open back up Would I invest in peer-to-peer lending through platforms like Lending Club? Oh No, I wouldn't you could I'm not and tell me how that works out for you right now People gonna be defaulting on stuff. I charge nine hundred percent interest because that's the only way you're gonna get your money back Cuz 99% of people gonna default on the world. Oh Yeah, I'd stay away from that. I mean it lets you know the person you're doing Don't be lending out money right now my friend unless you have a mafia, dude That's gonna go collect the money. You got some big dudes are gonna go gonna go where's my money break some kneecaps Yeah, don't lend money to your friends right now if anything give money away it ain't coming back to you, you know That's generally my rule with lending money You got a family member who asked to borrow 500 bucks. Just give it to them. It'll come back karma comes around So that's a good thing. I'll come back to some of these But let me switch topics to just some of the other non money things because life's not all about money Especially now we see that Giving I will tell you a little thing Give start giving money every day to a charity online Don't ask me why but has miraculous effects on your financial situation Hey, and I'm not even a superstitious guy in many ways But if you ask me the closest thing I have to a superstition It's giving money to charity every religion talks about it from Islam Judaism Christianity Atheists my grandma's an atheist. She still believes in helping people humanism Maybe not Satanism. So this if you're a Satanist ignore what I'm about to say, but I think in general They a good way. It's almost like a superstitious type of insurance Be be generous now if you got a little bit of money People got nothing give away a little bit I did a little thing on my Twitter you could kind of copy that you just say hey If you got a small bill, I'll then mow you the money Even it's a hundred bucks 150 bucks most everybody on this call. We're pretty lucky. We're above average In our opportunities and things so this is a little in the fourth The four pillars of good life the fourth one is happiness and also, you know what if I go down If I fail all my businesses go bankrupt And I diagnosed the reason was I gave money too much money to charity I feel like that's a good way to go down and I feel like you'll have a lot less regret Do you know what I'm saying? So little challenge. Just try it try it today. I've always seen it somehow Well, I don't know what it it may be like Elon Musk and Stephen Hawking say we're all kind of a video game for some advanced Lifeform they're watching us like some Sims things believe it or not. There's very intelligent a Physicist who kind of buy into that and Maybe they made a rule in the video game that people who give money to charity get more money back I don't know. That's my for those of you who are cynical. That's my best Explanation so happiness. I think through this time, you know, one of the things to do just to stay grounded and happy I Minimize the news. I was really focused on the news For the first two weeks and I think that was important to do Because you want to be ahead of the game me and my business partner Alex were really watching the news hardcore in And even if everywhere we're watching it very closely, but now I don't I don't it's all the same and so Set a timer 20 minutes a day is plenty you're gonna catch and my mom used to tell me tie anything important someone else will tell you so Let other people absorb the this stress. It has a real Dilaterious effect on your psyche and if your goal is just to make money You don't want to be too stressed Warren Buffett's making a lot of money right now because he's calm and collected because he has 130 billion dollars in cash So he's gonna make better decision Because he's operating from a place of zero stress. He's like What long I don't get it and he's also 90 years old I could tell you people at 90 years old don't even care if they die my grandma's 102. She's like if I die, I die Like at that age you reside yourself, right? So by lowering your stress, you're going to make quality decisions and you must be contrary now and you must be very You must be prepared when everybody else is fearful I guess is a calm under pressure is going to be a currency So if you think of yourself on a one to ten scale, how calm are you right now? That's pretty predictive if every one of these zoom squares There was a number that I could see your psyche and be like, okay This person's a four and the person's a 10 calmness and this person's a one I can pretty much predict one year from now. Who's gonna have made the most money and be the most financially a Secure so you really got it everything you can do to lower anxiety, you know through the roof So let me switch to the first H, which is health I'll tell you best thing you can do my best health tip for myself anybody Work from your home gym don't have a this is my office by the way at this farm, so I'll show you It's very threadbare, you know, I threadbare because I don't use this except literally to do conference calls like this I Do I have a gym that I build out in a little garage? It can be in a separate room Garage is the best by the way here in my garage my famous Lamborghini video that garage was my gym and Work from a gym because do all your phone calls from the gym do them between sets Use this time to catch up on two things sleep Okay, because you can only push so hard right now on this economy You can only push so hard on this economy. You're gonna have to sit back and see what happens So I've been sleep trying to sleep 12 hours my body. I've been pushing my body hard Try to get up there in the eight nine ten hour things and and if you can't do that take a nap 18 minute nap is the biggest game changer. That's 18 minutes What I do is I use headspace. It's an app a meditation app now You're not foot down. They'll be very mad if I told you I was doing this because of what supposed to do with headspace is sit up cross your legs and focus for 18 minutes on Meditation what I do is I last about two minutes and fall asleep and shit That's better than any meditation. I ever have a nice nap. I'm like look meditation is good But napping is better. Trust me people been surviving without meditation. They have not been surviving without good sleep So I use that app that headspace app. I like headspace. The guy's voice is very he's like a Buddhist Australian monk guy. He's got a good voice. He's very kind of calming chill voice. Calm is another app I didn't like calm as much personal preference, but so And I don't own any of those so this is unbiased by the way headspace I set my timer for 18 minutes and The first month you're only going to fall asleep about half the time or You know 60% of the time you give yourself 67 days About how long it takes a person change to have it and you will fall asleep almost on command. It's insane Assuming you don't have other underlying major health problems But then so I do 18 minute nap and then I do two hours in my gym and here's what I do in my gym I love these headsets right here by the way So these headsets even though I'm wearing these weird white ones These I'm just doing to make sure I have extra high quality sound for this conference But normally I wear these they do not go in your ears I started I was wearing these and then I was on the phone a lot and I got ear infections I'll never again these go over your ears Like that and people can't really see them. They're called air shocks or something like that What's the name? No, they're called aftershocks So I go into my gym I Connect aftershocks to my iPhone I Do some sets the best app I've ever seen for working out is this one right here. I'll show you It's called J. Well, let me just uh It's called J like jump E like Edward fit J-E-F-I-T. I think it's three or like ten bucks. Okay The second app that I love these are the two best apps for help I'm trying a lot by the way. I'm working on a book called million dollar body I'm getting close to having spent a million dollars trying every therapy Concoction vitamin but I've done it all through and I've been doing it for over five years now and I've been tracking I've done about 40 blood tests really exhausted ones And so trying to put together like really good data on what actually works tell you what'll change your life is this app I'll just tell you it's called carb like carbohydrates carb manager Carb manager. It's so good track your food Track your food. I track every meal carb manager has this little You can't see it, but it's a little microphone. You just press it every time you have a meal One of the problems of tracking your meals is like typing in everything. You just say it verbally so this morning I was like four eggs one eighth cup broccoli One ounce cheese one piece of zequiel bread one third tablespoon butter And you press it and it enters it all in so you can see today. I'm not I haven't been eating very well Let me show you yesterday. Well, I've been eating well, but I haven't eaten that much yesterday My goal is 2,801 calories. I ate 2,990 At 236 grams of protein. I'm cutting now So I have my protein relatively high to not try to not lose muscle. So it's a great app So three apps in summary and I'll let me type it because it's a lot easier if I share my screen My three favorite apps or health. Can you guys see this apps or health? so Napping and never tell this company that I said this napping head space to Food carb Manager these are at it's it's green. It's a green app and Then number three to track your workouts Use J E fit the reason you need to track your workouts is if you've not worked down a long time You're gonna get heavy too fast and you're gonna tear a muscle Okay, my main thing if you're over 25 you should only be optimized to not hurt yourself You know what none of us is gonna be on unfortunate. Okay that day is past for all of us Maybe mark who's on here? But it's all about Tracking very slowly. I like I got my bench press. I've been pushing. I've bulked up like 205 pounds. I can bench I bench like not quite 350 but now as I've cut I can't bench that much anymore because I've dropped weight and I use that J E fit app to perfectly track. I Can look at my last workout. Okay, how much did I do on the bench and just gradually go down? But so In summary here on health what you should be doing now is catching up You're at home catch up on your health Any I think anybody who says you need less than eight hours of sleep is just I think it's insane Unless you have freak jeans like Arnold Schwarzenegger Donald Trump says he only needs five hours, but he doesn't work out so eight to ten hours sleep one 18 minute nap Track your food for your first time in your life. I can tell you everybody on this call looks like the average age is let's say 40s You ain't getting enough protein So your body is going to wither away the long and short of it A lot of people argue with you on that, but I can tell you I have one advantage. I've been raising animals on Farms since I was 19 years old and It's all about how you feed animals and Protein is the missing link So try to get your protein at least the apple put in a doctor recommended amount of protein hit that protein market So so track food women men Particularly protein when I was bulking I was doing 280 grams of protein a day And it's funny. I have there's a lot of pseudo Experts when it comes to health and a guy that I know Was like you don't need that much, but he's a skinny dude and all my buddies that are big big big guys They're like man. I eat two grams of protein sometimes so get your protein up during this time in still new habits You know and then lastly so this is gonna sound like a lot two hours in the office gym so Two hours in a gym might overwhelm but two hours in an office gym To warm your body up to really get in shape six months from now I'll do a set and then I check my what saps or my business emails for five minutes and I grab a drink of water and Then I go back to another set and then I make a phone call to a customer I Get more done in my gym that I will never I fly never have gone into an office last time I went into an office day-to-day was in 2002 or three This office gym. I'm so much more productive and I'm killing two birds with one stone and then lastly Tom Brady rule of water He's the foot the one of the great athletes of all time half your weight in ounces So I'm trying to get that's pure water by the way, don't be counting, you know Coconut water you can add fluids on top of that I don't even add in my pre and post workouts, which are mostly water So for me right now I'm around 190 something I'm doing and I drink three Models that have 33 ounces in them so I get not in the 90s and then I get two protein shakes and stuff So those are my hacks and I'm telling you I've tested my blood more than any human on planet earth in the last five years I'm sure nobody's done that much I take 40 vials out of my blood out of my arm four times a year. I used to do it 12 times a year So I've done stem cells stuff I've done blood on like me you name at it. There's almost nothing I haven't done yet and If there's something I haven't done tell me about it. I want to try it as long as it's not what you know Chance to kill me. Okay. Let me see these chats. Okay. Good at peptides, so here's them up peptides Ty can you just unshake by the way a lot of this is Yes, yeah so By the way, a lot of this advice is from people much Much much much more qualified than me Over the last five years. I've hired four main personal trainers. I have four guys presto mark cage Danny Hester and a guy named Dan fine and they're smart guys So for example, Danny Hester won mr. Olympia classic. So he was at 45 That's the hot most prestigious. That's the Arnold Schwarzenegger You know mr. Olympia, so he took I talked to him Three times a week even now I virtually trained with him and fine. I mean this guy was on the cover of muscle and fitness in his prime many many times Presto is a guy that I Have him tagged. I'll share him with you But he trains a lot of pro athletes a lot of the NBA guys go straight to him And then I got a guy named mark cage who's a physical therapist who literally I tore a labrum and I tore here and Danny Hester mr. Olympia said not go to mark cage. You won't need surgery. He'll fix it and he does deep tissue massage It's insane. My doctor told me. He's like you got two choices. You have surgery or you'll never get strength back Mark cage goes give me 90 days. It'll be painful and that's it's gone. It's insane I had two medical doctors like impossible impossible, but it's painful. He sticks. He has this little tool and Anyway, so going back to this question about peptides. I've asked them about peptides None of them are that impressed by peptides. So sometimes people talk about peptides, but I'm not saying they're bad for you but that's just What my guys say simple man water hit the weights. I Can go more complicated, but I don't know if they want to hear this I think you should cycle every three months. So three months. You should be Light cut then you should do three months heavy cut then three months light bulk and then last three months heavy bulk especially for men But women too your body is not meant to stay the same way if you're staying at the same weight You are not That your DNA imperative is very different. Our ancestors changed weights They had no refrigerators. You think they ate the same in the winter of the summer You're meant to cut weight and go up. I went up to 205 I'll probably cut down to like 175 play with your body if you will not hurt yourself Just do it real slow. Don't lose like four pounds a week and stuff. That's what people mess up If you're vegan Then you just need nothing wrong with vegan. I mean, I think I Think vegetarian makes more sense or pescatarian, but some people have reasons. I want to be vegan Supplement with two protein shakes today to vegan. I actually own a vegan protein shake line called lean 67 But I'm not pushing it on you because I think we're actually sold out So you can't even buy it right now, but I drink it it's hemp protein. It has a I get about 40 grams You want to try to get like 80 to 100 grams, but by the way depends on assuming that people that are mice weight Um Good at the weightlifting routines J fit is great. Also p90x is a good one to start with for insanity Time my wife uses the same meditation technique. You've all sleep. I like that Okay, Kimberly sir, you're gonna talk about the third pillar So hopefully I'm not boring you sometimes people only want to talk about business and I'm fine but doing that but the third pillar is Love friends family romance And I'll just say this throughout the time that you're in now you're gonna find out who your real friends are Somebody who never DMs you text you a WhatsApp shoot during this crisis Either it doesn't mean they're not good friends, but they're certainly not your closest friends I would not crucify your acquaintances for not messaging you during this But anybody who is a business partner or close friend family member who doesn't chime in You should keep mental track of that not from a spite standpoint, but from a standpoint of just Trying times tell the truth, you know people lie but but numbers don't so Someone says they like you and they text you once a year They're probably lying and the numbers don't support love. You know what I mean? So um, I Think the most important thing and what maybe I don't know that I'm the most call I'm not married so I'm not sure I'm the most qualified to speak on romance But what I would speak on on the third pillar is the human aspect and Sigmund Freud said By the way, great book to read Write this down all humans should read this multiple times. It's called civilization and its discontents It's by Sigmund Freud now some people think Sigmund Freud is a discredited Psychoanalyst people are morons who said that I've never read anybody smarter than Sigmund Freud Okay, now he was wrong a lot about a lot of things. He did like to prescribe cocaine They didn't know it's bad for you back then and he was right it cured depression So uh Even there in some of his prescriptions, they're not politically. Hey, you got a depressed friend. You give him cocaine They ain't gonna be depressed for a certain period time when that when it dies off They might be but anyway, so civilization is discontents and I keep it on my phone I'm a real big fan of iBooks. I Keep a lot of stuff on my iBooks because it's easier to take notes So if you read a physical book, I usually buy the iBooks, you know how you always put little marks in the book Well, that's pointless because you lose the book when you move and You can't search it. So I just when I'm reading a book I have my iBooks when I highlight the iBook now. It's backed up on my phone if my phone crashes It's backed up my notes are backed up and I Can search the terms to quickly find quotes. So that's a little side note for you Let me pull this up. So I have civilization is discontent. I think it's like $1 It will be the greatest $1 you have ever spent in your life. I have this one It looks kind of well, okay, so I want to refer you There's only one chapter that I think you should read the rest is kind of complicated and So you want to read Yeah, yeah, it's the second on iBooks Let me so I'm gonna read you a quote that I think is really relevant to People so I can go in here my notes You can see my highlights. Here we go. Okay So it's in the very beginning of the book the most important part is chapter 2 like James said Just focus on chapter 2 of civilization is discontent some of it gets very ethereal. Okay suffering comes from three quarters three areas From your own body Right then He calls it the the decay and dissolution of our body every day past 18 years old our bodies are slowly decaying number two From the outer world It's interesting what he says from the outer world which can rage against us with the most powerful and Pitilist forces of destruction who can think of a outer force that's now attacking humanity so to speak coven 19 So the second source is tornadoes hurricanes plagues viruses but let's look into what he says Suffering the third place suffering comes from is from our relations with other people The unhappiness which has this last origin aka from other people we find perhaps more painful than any other So Most of your problems are going to end up being people problems And so one of the tragedies in the school system is not learning how to accurately and quickly read people And then keeping out the ones that are what a what a psychologist is called exploitative So the main trait you're looking to be able to read in people is exploitativeness So exploitativeness my mentor dr. David bus kind of described it this way exploitativeness Is a inability To you scratch their back and they scratch your back the same amount We've all had a friend. Maybe you help them move they call you. Hey man. I'm moving this weekend Can you wake up early at seven in the morning show up on my apartment complex on your saturday morning and help me move And you agree to it And you move help them move a year later. You call that friend and say hey I'm moving can you come help me saturday morning Oh, man, I would but I promised my girlfriend that I would walk the dog or something. That's exploitativeness So the actual technical term for it is like reciprocal altruism. They have different scientific terms Um, it's it's like a teeter totter. It doesn't balance out you help them more than they help you So your number one goal if I was training myself Six years old going back in a time machine and coaching myself. I'd be like tight What are the signs of exploitativeness because You know, there's a lot of people on the zoom call One of you is about to make a million dollars And somebody's going to take it from you somebody you know They're going to sue you They're going to defraud you. They're going to take it out of your banking I guarantee you someone in this group a group of 30 or 40 people There's zero chance that there's not 10 20 percent of you somehow inexplicably Maybe unknowingly attached to a highly exploitative person I've seen it. I have seen it. I have seen it over and over again Of the wealthier get the more it happened um A lawyer of mine in la said ty He handles these type cases that I know of not one Hype profile businessman In this city that doesn't have pending lawsuits against him in one form or fashion. He's all right He goes ty I represented every high profile person or things like they all have shit going on because More money or problems More you can't exploit somebody who has nothing to give but as you guys become More successful, uh, this Tendency and others will rise so you have to be good at finding exploitative people So there's three main types of exploitative behavior And I'll kind of end with this and maybe I'll answer a few more questions The first type is narcissism now What people don't understand about narcissism they think of it. There's seven Types of narcissists and people don't know this only one of them Is vanity and we traditionally think vanity right the person who looks in the mirror all the time That is only one of seven forms another form for example is self-sufficiency Did you know actually scientists classify high self-sufficiency as a mental illness? Somebody who thinks they can do everything on their own. I get that with employees sometimes I'll have somebody it's their first week on the job. They go into an important part of my website and change it all And I like destroy sales and I call them and I'm like, yo bro. What are you doing? And he's like, oh, I didn't want to bother you. I figured I would just figure it out on my own I'm like, no ask me. Don't be self-sufficient right now So he's unknowingly been exploitative and harmed my business So you want to but that's by the way the least dangerous of the forms of narcissism The most dangerous There's one called Superiority authority that's really common in the modern world, especially with social media entrepreneurs. So People who have no credentials But are still we all know somebody who has infinite confidence In something they just learned how to do yesterday and you're like Hey, the scientists call that Dunning Kruger two scientists Dunning and Kruger did a study on why are smart people Not confident about their opinions and idiots are highly Think of politics idiots who have couldn't even balance their own checkbook Or like I know exactly what economic policy will be best for america. I'm like, bro You can't even fucking save a thousand dollars, but you're a hundred percent sure Which economic policy is good for 320 americans in a massively complex society? Let me get this straight that is called superiority authority narcissism. So you got to watch for that Um, here's the good news about narcissists. It's the most common and I'm not talking about narcissistic personality disorder That's like narcissism on steroids. If you ever bump into one of those people that's like Ted Bundy was a narcissist um He had narcissistic personality disorders a lot of the serial killers have that along with psychosis with psychopathy and stuff so For each person on this call the simplest way to identify believe it or not a narcissist is easily offended people So be very careful think do a mentor inventory right now people close to you in your life They could be working for you with you could be married to them. It could be dating them You could be befriending them anybody who doesn't eat I like to use the term jolly In general jolly people are not narcissistic. Okay Now forget your politics. Donald trump is a classic narcissistic. Okay. I'm not saying he's a bad president or a good one I don't even Comment on that but even he knows he's a narcissist. I heard him give a talk where he's like i'm pretty narcissistic Donald trump needs to react to everything and part of that's worked very well for them So by the way, some narcissism is functional just to be the reason that our dna Over the last 10,000 generations has perpetuated narcissism is it has a purpose Scientists call that functional so any non functional behavior slowly gets pushed out of the If you believe in evolution narcissism persists because it's helpful I've never met a pro athlete. That's not a massive narcissist But they have the skills to back it. I had a guy who worked for me He was I would play basketball in backyard The one time he pissed me off so much he would talk the most trash. He was the worst basketball player ever But he had the confidence of like my friend chris paul who's like i'm gonna be in the hall of fame And finally I was like, why are you so confident like dude? I could have played pro and I was like, did you play college? You got no I was like, did you play high school? No, i'm like, but that is a that is A he was a jolly guy But he was miscalibrated and therefore he was exploitative. I ended up letting him go slowly Be careful of letting exploitative people out of your fast life Instantly because they might retaliate your best bet There's an episode of the office I forget what season but a guy Is going to be fired. Oh andi bernard's going to be fired And he and so the boss invites him in and he comes in and he goes David before you talk I wanted to tell you i'm tendering my resignation And david wallis is like I was about to fire this guy and he just resigned so now i don't have to pay him this Ever so my hope for you is that you figure out a very subtle way To remove the narcissist from your life If you just tell them that you were on this talk and you heard about narcissism and dark triad traits And you're going to need to let them go It's going they're going to retaliate so don't so i'm giving a huge disclaimer You want to do it so subtly. They never know that they left your life I've done all kinds of things to get rid of weird people. The best thing is I like to move every once in a while People are like, are you in california? I'm like, no, I live in I live on the east coast now part of it is for Business reasons things but literally 50% is now all the annoying people Who want me to do something for them in la? I'm like, oh, I would but I'm in new york right now I'm in virginia. It's the art of the subtle exit. I will call that The second kind of exploitative is also pretty common. It's called machiavellianism. It's somebody who Is two-faced to your face. They're nice They talk behind your back Now narcissism is genetic believe it or not machiavellianism is um, not genetic. It's environmental almost all of it narcissism's like Very high correlation with your genes By the way, if you want to know if you're a narcissist, just ask yourself Were your mom or dad a narcissist if the answer is yes, you probably have strong narcissism Very inheritable But machiavellian so people who have been bullied In life or abused in childhood You need to and this is so hard for me to say because it's like, oh tyre Are you saying somebody had a hard upbringing that you shouldn't have them in your life? No, it's not that simple. But what I'm saying is this Mad childhood um It has a hell of repercussions on people And so do not have everybody in your life Who's like, I have the most fucked up childhood like you want no more than 30% you want some people They're like, are your parents the worst? Nope Are they happily married yet? Look for shit. Were you ever abused? Were you molested as a child? Were you really bullied by a You can't don't have all your friends say yes to this is what I'm saying If anybody here strolls with anxiety The the craziest thing about anxious people and there's also science to this is called associative or sort of matching Anxious people have only anxious friends around them and I'm going the only known cure for anxiety besides Heavy drugs and maybe meditation is changing your environment to not having anxious people around you So what I'm trying to say is if you had kind of a fucked up childhood I didn't have a good childhood I'm sure to surround myself with people who had a hundred times better childhood. Don't think That people heal as much as you think don't and some people do But you know when I was young my wrist got cut on glass Never fully healed scar tissue Fibrosis boy is a real thing and macinvalium is like scarring of the brain and They're insecure unstable Do not have only people with fucked backgrounds in your life. Okay, just don't No more than 33% if you can pull it off Marry somebody way more normal than you Business partner like alex my business partner before we came business partner like alex your parents married. Oh, yeah Are they happy? Oh, yeah Uh Your grandparents married. Oh, yeah Like Can you get along with your mom? Yeah Were you beat up as a kid? No, I'm not really Were you music? No So I had more traumatic upbringing. So I'm like, I want somebody like that because he balances me out This is straight dope. I'm telling you that macinval. I've tested more people With psychometric tests in any human in history even more than Sigmund Freud I've tested like 300,000 people in the last two years So I can tell you what I'm telling you is from mass data across 150 countries And I learned a lot from dr. David bus who is the head. Well, he's my mentor. He's on my advisory board He's the head of harvard evolutionary psychology. So this is really kind of accurate stuff, unfortunately The third kind of exploitative behavior is called psycho psychopathy It's very rare. So don't worry about it too much men like to call women psychos One thing women should know there's basically no women psychopaths statistically. There's a few there's almost no female psychopaths Women are not psychopaths. Let me give you an example. Um, women don't kill strangers Okay There's been a thousand if you go to Wikipedia, there's a thousand serial killer men listed. I'm sorry a thousand serial killers I think 998 are men and two are women. There have been a few Psychopath women, but it's just rare. It's so rare and um Women don't kill strangers serial killers feel strangers. So like women will kill kill you If you are married to them women can be very dangerous it's just You have to have a relationship with them first before they want to kill you um men this is the problem with men Men will kill a baby. That's just walk for no reason Women don't do that. So psychopathy you need to watch mostly in men God help you if you have real psychopath in your life They tend to be really charming. So do narcissists. That's one problem. It's hard to differentiate them I run into very few psychopaths. So it's a word that people use a lot Um, I have I'll tell you this at my part. I had a party at my house two years ago I like to give my quiz to everybody. I built a quiz. That's like the best quiz because I took Texaco score and uh npi Mock for all these one scientists are not good at internet marketing. So I took all of their quizzes And I put them in one quiz this girl I met her and I could tell she was a little weird But like more than weird like something was off. So I had her take my quiz She got a 90 by psychopathy. I've never seen a woman get 90. So we were out of my basketball court There's a hundred people there like kind of close to us and I just joked I was like, oh, you've killed somebody before And she got so quiet. I thought she was gonna laugh She got so quiet that I changed the subject because I was like I think I just hit a hot spot. But my point is Focus on narcissism and Machiavellian stop calling people psychopath Start focusing by the way women tend to be uh, not psychopath But they Women I'll tell you this It's proud. I don't know if you're allowed to talk about men and women anymore tomorrow, but From testing 400,000 people. There's one thing that women have you could call it worse But much more prevalent in women anxiety Women the what I've seen among 400,000 people is women have anxiety issues Men do too But men have anxiety plus a whole bunch of other issues Um, there are women narcissists But a female narcissist In my experience is less exploitative a male narcissist is a trouble Male narcissist is like eight off hitler man. There ain't no female version of eight off hitler Women are complicated. That's all I'll say Watch men and women equally But I was just saying the fear thing of like death and stuff. It's all men Unless you live in thailand where women if you cheat they cut off your wiener while you're sleeping I don't know if you saw this but there's like a whole emerging field in thailand Of doctors who who reattach your penis to your body Because there's like 20 a year And I was like, you know what if I ever marry a tie girl, I'm sleeping on my stomach boy Do not sleep on your back Make it that's all I could tell you roll over So, uh, I hope that doesn't happen. Okay, before I leave here last question What did I call that test if you want to take my test you just go to tidalopis.com slash quiz But you can also google hexaco x a co My quizzes it's not I didn't invent the quiz by the way So I did nothing but compiled The most scientific quizzes tidalopis.com slash quiz give that it's free Give it to every Employee well be careful with employees if you're in california. Give it to every friend acquaintance before people or your business partner Give it to them before you go on a date Give it to them I I have seen and by the way Like I said mental illness is male and female. Um, I have seen some women that are insanely Well, like I said the girl killed somebody and I've seen men that I would I've I've had people that I get that quiz. I walk out the door right now. I'm in a restaurant I'm like, I gotta go something came up just exit and let me give you a really good book I haven't talked. Okay. It's called the h. Let me put it in the chat. This is an insane short book By a really really respected psychology or it's called psych uh psychometrics But here's I call this the age factor of personality Right here. Read the age factor of personality 10 times before you die It's so good of a book. It's by the founder of the hexaco quiz. Let me read you something funny about from the age factor About how to deal with people who are wacky in your life. Okay. It's the So he defines it in this book as low h I called it Exploitativeness same thing. So what do you do when you realize that someone is very exploitative? First of all, do not get carried away. It's probably not a good idea to proclaim your diagnosis to them Or number one do not tell them you diagnose them as a psychopath, okay And it's definitely not a good idea to undertake any vigilante style action against that person I've done this quiz and then tried to psychoanalyze people. It's never ended well It's ended poorly, but never well people who have these issues don't want to hear it The best advice is to simply limit your interaction with people who are exploitative Do not choose them as romantic partners. Do not choose them as business partners Do not choose them as tennis partners as bridge players stay away from them Now he's gonna be the now what happens if you're the exploitative person And that's a whole another I can't cure. I can't I'm not a doctor to cure run for your life There's so many Exploitative people in this world now. I don't know if it's gotten worse somehow magically but And entrepreneurs are 10 times more likely To be exploitative in my experience the most dishonest group of people Not necessarily dishonest exploitative is probably entrepreneurs In my life experience, maybe there's Prison would be worse. So but I haven't been to prison. But it's my dad went to prison He's like there are no friends in prison and um entrepreneurs is a little bit that way So do not have only entrepreneur friends. I have lots of friends who are in other fields I have friends who have nine to five jobs. I have friends that are farmers You know, don't don't just hang out with e-com entrepreneurs Okay, how do you get people to take the quiz without them knowing? You know what michelle? Believe it or not people are so narcissistic. You're like, hey, do you want to talk about you? Hey, I got something we can talk more about you. I've never ever Well, maybe I should say out of Let's say I've had 5,000 people. I've been doing this for over a decade Let's say I've had 3,000 people. I'm personally in person I've had one maybe that wouldn't take it and if they won't take it run for your lives That's a classic sign of Machiavellianism is highly secretive people. Be very careful highly secretive people highly secretive people It's a classic sign of Machiavellianism. That's one prop cryptocurrency by the way Prop may have is the only industry that has more people with mental illness that I've experienced than It's like entrepreneur subset and then among crypto now I know some great crypto people so I'm not generalizing But I've never seen more people as a group Like if you do a cryptocurrency conference and there's 3,000 cryptocurrency people there might be 2,900 people with serious mental illness in there I wish it wasn't that way because I like the idea of crypto But that's why I talk less about crypto. The community's too fucking weird. It's like I don't want to deal with People who have I'm like, hey guys get some help man. Get go to a therapist I know you're bullied. I know life is tough man, but you got to move on. Okay Open psychometrics. Yeah, they're open psychometrics is a website Lsrp that Lsrp that is the um psychopathy test. Don't test people for psychopath unless they're men. Um Okay, talk about reading a book a day um For starters read through a book a day start as a beginner Read through a different book every day five pages one page Two sentences just build the habit. It's kind of like if you want to get in shape You just go into the gym if you don't know what you're doing and do five push-ups For a first week build instill the habit Then you go to eight push-ups and 10 and the next thing you know, you can do 50 push-ups And your body starts to change start very small with books looks is like mental bodybuilding So where can we get more of your wisdom? I'm not sure if I have wisdom, uh, but uh Which of my programs should I join? I mean my 67 step program We want to join. Um, I've got a new one called 12 foundations That i'm almost done with anyway, um Psychology love is a good read. Yeah love. There's a book called attachment read attachment by What is her name? So attachment issues if you're talking about romance the most important quiz after The title of it.com slash quiz one Is to do an attachment quiz. There's three types of attachment styles. There's anxious secure and avoidance If you've had a tough time in love, um, it's almost always an attachment style Which usually gets fashioned in your brain Under three years old so you don't remember it. Um, you know So i'm a guy so I date women so I can only speak from that experience But there's certain women that if you don't like them they like you more Okay, that's actually a mental problem. That's called avoidance syndrome And it's not always a clinical level where it's so high that you're insane but Women or men who only like people who don't show affection back That's called avoidant and it's nasty and um It's hard to completely change but you can work on it a little bit. Um people who are always uh Jealous people who are always Concerned that their love is not reciprocated. That's anxious style. So about 25 percent of the population is avoidant 25 percent is anxious and 50 percent is what's called secure It's a simplest mathematical formula no matter what you are only marry a secure So if you're an avoidant marry secure if you're anxious marry secure if you're secure marry secure Um, if you want to have a good life if you like like to have a dramatic life then ignore everything I've ever said you can marry the girl that killed somebody that was at my party I could probably find her phone number if you want to have a life with a lot of fireworks It wouldn't be boring. You may not make it to the end of your days, but um, so Yeah avoidance. There is a book It's called attached. It's about read that it's a badass book It's the only attached about love. Let me look up the damn ladies. Okay. I'm going through these questions Ty, it's not boring. It's awesome. Okay, good. I'm glad I'm not too boring What's a good quit drinking hook during the recession James are you still on here? Yeah, I'm still here. Yeah Um, okay a quick going back to business quick quick drinking hook during the recession Well drinking I mean I would say what I've been What I've been telling people is this While you're at home double down On yourself All the things you've been trying all the bad habits you've been trying to bake all the skills you've been trying to do do right now You're stuck at home. So if you've been a damn Been drinking too much now you have time to literally read focus go through James program So many things it's the same what I was saying about lifting weights Lifting weights or doing p90x or cutting weight by tracking your food Man, you all of us have been procrastinated on that stuff for a decade Now's your chance. So that that's my best hook right now. I mean you can always also a scientific hook For example, people who smoke Are the one 14 times more likely to die from this coronavirus and alcohol is an immune system Destroyer I mean for me the number one thing that destroys Two things that kill my immune system and I get sick if I get these two things right I never get sick enough sleep And alcohol boy alcohol makes you weak It's like we lift weights and then you drink a lot you your bench press will drop 40 pounds, you know So I would come at it like hey immune system killer So let's fix that so you don't die of corona that won't get approved on facebook ads But that'd be a damn good hook want to not die do this Uh, I'm just reading through the last comments Best three mentor box courses to look at right now Ha ha I love the one I think read hoffman has a good one in there is the founder of linkedin I think a good one is guns germs and steel to get a historical understanding of it's very pertinent right now Guns germs and steel You want to pull it surprise for that? Um, he's in mentor box and um What's the third one I like? I think ariana huffington has a good one in there too Sorry, I love pillar. Do you have any references or resources you could share to help get an e-commerce business up in Justin's asking about get a calm Here's the thing if you're going to do e-com of a physical product you Shopify That's it Just keep it real simple. Don't use wordpress Don't use your own software if you're going to sell a physical product Use Shopify I do not own Shopify. I wish I did so I'm telling you to unbiased every business I have That's a physical product. We use Shopify Um, if you're selling a electronic product Now becomes confusing because some people like click funnels. I use my own software There There's uh learnable. There's so many things so The good news is if you're going to sell a physical product just Shopify There's so many videos on how to get Shopify go to youtube go to Shopify's help you can get I mean I have an e-com course You can look at I think we have a one dollar trial on it. It's actually pretty good Um, and it's like seven bucks a month to nine bucks a month. So you can do mine or you can search around um house coronavirus any different than past viruses Pass and we're not forever. Again, yet. I know I'm not a doctor So I'm not going to speak on what I'm going to tell you is that the fear instilled by this virus is going to I think for every one month we're in quarantine. It's a 10x. It'll be 10 months Before people psychologically recover if this thing goes a year. It'll be a permanent 10 year It'll be a whole generation's understanding So if this thing stops in two weeks, we may be back in business In 20 weeks, which would be four or five months by the end of summer And this thing persists big people god help us about world leader by stuff like that People aren't going to forget this And here's the scary thing 1918 influenza came back three times So the problem I think we live in a new world now. I think who knows this might have been a chinese This might be a biological weapon that got out. Nobody knows million theories What I'm telling you is there's a lot of people on planet earth There's never been this many people on planet earth And I I know this from having a simple form. I've got 700 acres here if I stick too many cows in one pasture parasite load goes through the roof And so as long as population I think this is a new reality for humans. They're projecting we're going to go to 10 billion humans My grandma's 102 when she was born there was 1 billion people on the planet In her lifetime We may go to well certainly 8 billion So I think that's what I'm saying double down on e-com because this is here to stay Whether the corona virus is the one they're going to be something. We're not going to go another 100 years without Something and you know what next time people are going to freak out So the next virus that comes from whatever gondom obey virus People are going to Instantly abandoned. Let's say your grandma died or your mom died with the last corona virus What are you going to do? You're going to instantly quarantine yourself You're not going to go grocery shopping. So build a grocery build food delivery. You're not going to buy your you know You're going to buy everything online. You get zoom is going to be a good business Virtual coaching is virtual lawyer. You can't be a virtual dentist But if I was a dentist, um I don't know maybe mobile dentist. I don't even know if anybody's ever thought of that dentist to your door I know it's hard with the equipment but stranger things have been done. So you've got to think out of the box I don't see this De-accelerating totally No matter what even if the virus disappears tomorrow I just don't see I By the way, a lot of companies I think are gone. I think I don't know even now. I don't know that many of Probably the most powerful investment banker I know personally he called me a week ago He said tired this guy when he called you by the way, he never calls people He never calls me. So when he called and I picked the phone up immediately I was doing something else. I saw The name of the mic is the person I answered the phone instantly he goes He calls me for 30 seconds and hangs it up. He goes. I want you to know Come august, I think 60 come 60 major brands will be bankrupt ready for you to buy because we we now It's trying to buy there. He said get ready, baby. This thing going to be nasty so um Somebody else is sharing their screen. I don't know that is maybe that's Scott not share your screen. Just stop. I'm not sure why here we go. Thank you All right, last thing I'm going to jump off here our audiobooks good. Yes Get in that remember two hour office gym Put the put the aftershocks on make your phone calls get a little workout in Follow what there's good workouts on youtube. There's good workouts You can pay for keep it real simple through body weight stuff and then listen Hey call people. Oh, I think phone sales is going to be big build your phone sales team for your product People answer the phone more now Um, I'm a super slow reader good audio audio audio. What's the future of youth sports look like? Yeah, I don't know video game sports I don't know what team e-sports is going to be big. Look, we're going to go back We're not going to be quarantined permanently We couldn't support it. We would cease to exist as a civilization We don't have infrastructure things are going to come back. What i'm saying is Not everything is going to come back and it's going to come back to a lesser effect. So that's your opportunity 47 depression recessions in american history and the first one was right after seven the war of 1776 the revolutionary war Three years later. There are four years later. There was a recession. They happened every four years in the 1800s or the recession There was two in the 1890s but I want you to know out of recessions from new technology and improved world and massive wealth for people who adapt if you look at the wealthiest people in american history Rockefellers at the top Dondi Rockefeller He started 1865 is his big break during the civil war, but post civil war. You had a depression in america Due to reconstruction in the south He built his business. There was two carnagies the second richest person in history 1890s He created a lot of his wealth carnagies steals jp morgan was coming out of the earth There was two recessions in the first 10 years of the 1900s. I think it was 1901 and 1907 um jp morgan rose to massive power Steal power jp morgan still most powerful investment bank in many way goldman jp. So This is your chance And you can't do it now and you can't make your move now You're probably never gonna be able to make your move Does that make sense? So maybe with that i'll say When others are fearful Be Excited Now you should not be overboard and we don't want to be excited at other people's loss, but you know what? The world's been stupid in many ways. Do you think it's been good that harvard university has charged people or or NYU business school has been charging people 30 000 a year for sub par business degree I don't think it's good world. So i'm glad they're disrupted I'm glad all their school because now it's opportunity for people have alternative education new world Our grandkids will look back at the prehistoric things that we've done in the 10 to 20 20 decade And what changes the world Is big events that force everybody to rethink everything. So the reason i say Be conservatively excited is maybe you've seen something wrong in the world Maybe you've seen a structural problem in the medical system and insurance business In the restaurant in the food system I see problems in the food system that are about to be exposed the way we raise animals is lowers the immune system of cattle Sheep chickens pigs and probably our next big virus is going to come out of animals Well, we know that's where this one came from. So For me, I want to change the food system. I want to change education system. So Change Now's your time if you ever thought about changing the world and the beauty is if you do it right the world will repay you I think about one of the jump one of the Beatles once said give the world bread And uh, she will always feed you Give value to the world right now And there's monetary potential You know reputational Growth you'll have everything. This is this is your chance. So I think I think it should be moderately excited Um minus the cost of human suffering. That's never we don't want to be excited that people are dying and um But we want to know that out of that we'll create a world Ideally where less people will die the next time this thing comes around. So You know, what's the gondi thing be the change you want to see in the world? I don't know if I would say that exactly I would say Make the change Launch the change That you want to see in the world launch it right now. It's easier than ever I'll give you five business tools. You should know maybe three four Shopify For your email use clavio That's what we're using. I'm giving you insider stuff that I don't share that much clavio It's a great email tool build your email list attentive For your text list attentive It's a venture funded company Meaning they give you good deals on texting So those three start with those three Shopify clavio attentive three simple tools 10 years ago if you want to start an econ business you'd be like me I started building my software on o6. I spent eight million dollars building it now I see people can use Shopify attentive clavio for like 200 bucks a month So never been a quick better easier time to launch now so Oh Was that helpful James? I hope yes. Thank you so much. All right. Yeah. Thank you, mate I so appreciate your time. Just got to read out a couple of things here. Mike says thank you ty appreciate you taking the time with us Kimberley says thank you so much. Thank you. There's thank you Mark says thank you ty for this awesome talk really appreciate the wisdom shared Brett brad says thank you ty great info and very inspiring too Melissa says you added massive value Thank you really great. So I'll just unmute everyone now if you want to just give Ty a Round of applause just to say thank you I appreciate it well We'll talk again in a year or whatever and I want to hear the stories of people rocking or rolling Good time to start All right. I'm gonna head off. So I'll talk to you soon. Thanks. Bye. Bye. Bye So there you go. There was ty Lopez. Thank you so much for joining us on today's episode If you like this episode, please do share it send me a dm share it with someone on your facebook subscribe to the James wanting show podcast which you can find in itunes subscribe subscribe rather to my youtube channel Follow me on instagram. There'll be more episodes coming up great to see you again and I will see you soon