 Let's talk about the Way of the Billionaire. This is a new book I'm writing on investment secrets of the ultra-wealthy. Something I've been studying kind of my whole life here. I got one, two, three, four, five, seven places I'm live, including Clubhouse, Audio, Way of the Billionaire, Facebook, it's kind of cool. Oh, shit, did I just turn this off? Of course Facebook Audio is stupid. Anyway, I'll turn that on in a second. So, question for everybody. I've been busy the last couple of years. This going, damn it. Give me a second, let me do this live audio. It's funny. Y'all think your grandkids are gonna even know Facebook? All the brands we think are good now. You know the SAP 500, sorry, the Dow Jones Industrial Average from the 1800s. How many businesses still exist about 140 years later? Zero, zero, isn't that insane? That not one exists. Yeah, blue light blockers. All right, so I got my little whiteboard here. I may show us a little bit of tips, what I'm writing this book. It's gonna be a 10,000 word small book The Way of the Billionaire. Basically, put it this way. Everything you think you know about investing, even those of you that think you have like a cutting edge way of investing your money, the ultra wealthy are out here doing other stuff. So, I started about 10 years ago getting access to billionaires around the world. And it was interesting. It opened my eyes like nothing that I was told before. Even the books, even the freaking radio programs, all the social media influencers, there's a whole world out there. You think Bill Gates, Jeff Bezos, Elon Musk, Mark Zuckerberg, you think they're revealing to you how they actually invest their money? No, the rest of the world ends up investing their 401k, maybe does a couple real estate deals, launches a little business, and can't figure out why they can't make ends meet. And that's because beware of perverse incentives. You ever heard that saying? Beware of perverse incentives. What that basically means is people have no real reason to tell you their best money-making secrets. And the people that tell you about how they make money, there's two types. One doesn't know what they're talking about. And there is a small percentage of people who share real stuff, but there's the third category. And that's the inexperience who have made their first million in a way that's not necessarily replicatable, and they're starting to teach now, and it's very deadly. There's an old saying, the young doctor fattens the graveyard, meaning kills a lot of people. And there's a lot of people out there that are teaching that come from great intentions and you're listening to them on social media, but they don't know what they're talking about really, the best of intentions. So somebody said, am I going bald? Shit, I got a lot of hair, I got my hair tied up, bro. My family don't have that gene for losing hair. I got too much hair, I gotta get my hair thinned out, actually. So anyway, there's a lot of conspiracy theories that people believe in this world, and about Jeffrey Epstein or whatever. I don't even wanna say stuff. I got my TikTok blocked last live I did, so I'm gonna try to be careful what I say here on this, but all these conspiracy theories that people think they're real conspiracy theories are like right under your nose. And people are like, no, there's like this, and man, I didn't go to the moon, and all these fucking irrelevant conspiracy theories that who even cares if they're true? Like Netflix is full of documentaries on just, I'm just blown away that people care. I'm like, why do you care? Like, what is it? That's it, it's like, even like Jeffrey Dahmer, serial killers, like the best, a most viewed show on Netflix right now, and it has like, there's no upside to that. Like anything, watch anything else but that, there's no upside. There's just, like Thoreau said, the massive med lead lives of quiet desperation. What's called resignation is confirmed desperation. If you're watching like Jeffrey Dahmer, it's like you've confirmed your desperation by just being resigned to like nothingness. You know what I'm saying? It's like, what are you doing? But anyway, I digress here. I don't think my Facebook audio is working. So here's the true conspiracy theory. Everything that's actually nasty in this world, like you're participating in. You know what I'm saying? It's like, everything that's nasty in this world, you're already participating. Even if you think you're this ethical, moral person, like you are the thing that you despise in other people. It's like wealthy people are just living out what everybody else would actually do. You know what I'm saying? So I'll give you an example. It's like, if you're watching this, you're on some kind of a smartphone. Smartphone was like, most smartphones, whether you have an Android or an Apple, was built by some form of exploitative labor, okay? Now I'm not saying you should smash your phone, although I once met a guy. I used to live with the Amish when I was young. Well, I was like 19, 20 years old and he was a super ethical guy. So he didn't take an airplane. He walked. I was on a farm in Virginia. His name was Evan Haas. He walked from Connecticut because he didn't want to be part of the exploitative fossil fuel industry and he made his own clothes like Mahatma Gandhi. So my point being is that the things that, you know, people say they don't wanna be part of the matrix and they wanna unhook themselves and the way they do that is by like listening to stuff on social media. That's not really how you unhook. You unhook by what you do. And a simple way to do it is to change how you think about how you invest your money because whether you're poor, middle-class or beginning to create some wealth for you, you cannot deploy all your own capital into your own ventures. It's not possible. You can't deploy all your own capital. So you have to deploy capital with other people. Now you say no, Todd, I don't deploy capital with other people but if you have money in a bank, you're deploying your capital with other people. If you have crypto, it's the same thing. People, crypto people think they're all unhooked for the matrix. I'm like, crypto is more centralized than fiat. Look at the wallets, it's like 10 dudes control a massive amount of the wealth in crypto. More centralized than fiat. So when I say do something new, what I'm saying is be even more contrary and you think you are now. So I'll give you an example. This book that I'm working on the way of the billionaire. What is the most common thing you hear on how to invest your money, okay? So most common thing that your parents maybe said was like invest in the stock market, right? It's a pretty common thing. I used to work for GE Capital. I was like a registered investment advisor like helping people deploy capital in stock market. And what I realized is like, this is the wealthy don't buy mutual funds. Not the ultra wealthy. They don't buy mutual funds. Now you might say, but Ty, that's not applicable to me because I'm not ultra wealthy. And of course, ultra wealthy people invest every night. Stop yourself right there. That's kind of like saying, oh, like LeBron James does cardio three times a week or like high intensity in the gym and he lifts weight three times a week. But that doesn't apply to me as a human because that's LeBron James and he's six foot eight. No, it does apply to you. You should basically apply the same principles that pro athletes use. Most LeBron James says he spends a million bucks on his body but you can replicate 90% of what he does. So you can still learn from the best even if you consider it not applicable to you. This is a bad way to think about things. And so people go, well, it's not applicable to me to not invest in mutual funds because I don't have a lot of money and I can't be like Bill Gates who's bought up let's say 300,000 acres of farmland or I can't be like Jeff Bezos who deploys his money into buying whole foods. But you can, you just can't do it on exactly the same scale but you can follow the same patterns. So the ultra wealthy use a technique called DOE. That's a term that I've come up with. DOE, you can take it if you want. And DOE means distressed or early. So the ultra wealthy invest in things either very early or they buy it when it's distressed. Now the best of them, like Elon Musk, he does what I call DAE. He buys things distressed and early. So for example, Tesla was founded by two other dudes not Elon Musk in 2003. Years later, Elon Musk came in and they needed money and it was early. So he put approximately $6 million into early stage Tesla cars. And now for every dollar of every 100,000 he put in that 100,000 is worth $900 million approximately. No one knows exactly but Forbes estimated that's how many shares he got and you can kind of multiply. So now then he invested more money when they were distressed. They really needed the money and he invested about 30 million and not only did he get in early but he actually took control and became the CEO of the company called Tesla. So he either got in early or he got, he got in when they needed the money and the price was low distressed. The problem with crypto for example is some people made a lot of money. I was watching a video of a dude who got into Bitcoin at $1. If you got into Bitcoin at $1 and it sold it at 68,000 which was the recent peak. A 68,000 X return is like even better than Elon Musk's, okay? Now the problem is it's hard to know what to get into early, right? But not everybody had the foresight in 2012 or 2013 to get in but there's another way and you can get in when it's distressed and you hear a lot of people talking about by the dip. That's a really common thing by the dip. The problem is too many people are trying to figure out when the dip is and therefore if you study economics capital flows in and kind of equalize. A good way to think about it is if you're at a grocery store and there's two lines and you're waiting in line and the lines are very long, they open up a third line. The problem is everybody moves into that line pretty quick and so it evens out and it doesn't help you that much. You still will be in a long line. That's what by the way why traffic isn't helped in big cities by adding more lanes, it doesn't really do much. So the problem in crypto is so many people know about things that by the time you move capital into them the market's relatively efficient. And if it's not efficient, now you have another problem where you have corruptions in markets. If you look at Jay Gould in the 1800s people don't realize, you know, Rockefeller everybody thinks John D. Rockefeller was the richest man in modern history. He was estimated 600 billion net worth much wealthier than Elon Musk or Jeff Bezos. But there was another man named Jay Gould who around the same time he was a contemporary of Carnegie and Rockefeller and Vanderbilt he got in and he manipulated the stock market and he became the wealthiest man in the world at one point. And so there's a lot of manipulation in markets. So once again, you might say but Ty, all I hear you is saying what you can't do what can I actually do? So my advice to you is to begin to network to begin to do events. I started doing events at my house. You could have a little house or a big house start getting around people. Shaquille O'Neal, I just interviewed him. I bought bodybuilding.com. I buy brands. I try to do this advice myself. I buy distressed or I buy early. Okay. I bought, you know, Pier 1 Imports, a big huge American company. It was doing 1.7 billion in revenue. I bought it for $31 million. It's a public record. You can Google it. So I bought it when it was distressed because COVID was there, right? COVID came in in 2020 and it affected that brand because it had hundreds and hundreds of stores, right? And they still had to pay the leases but they couldn't sell anything. So what I did was a strategy that's I learned from billionaires. I learned from people like Tillman Fertitta taught me about a 363 sale. These are the kind of things you need to learn because not many people know them. Okay, real estate. A lot of people say, oh, you can always make money. You just buy real estate. It's not that simple. Real estate often is the same thing and you're gonna see that now in the next year or two. A lot of people who got into real estate are gonna get crushed because they didn't buy distressed real estate and they didn't get in early. It's hard to get in early in real estate. Most people are buying buildings that are 50, 60 years old. Okay, very few people are actually buying in early. There are some. I bought, it's funny. The other day I bought, years ago, I bought a new construction in Raleigh, North Carolina near Crabtree Valley Mall, if you know where that is. And I bought that and I forgot about it. Literally forgot it. I have a property manager. She manages it for me. And I got in early and so it's made a lot of money but what a lot of people do in real estate is just think, well, it's real estate therefore it will create wealth. None of the ultra wealthy made their money in real estate. Did you know that? Go to the Forbes list if you don't agree with me. Go right now, go to Forbes.com. Go to number one, number two, number three, number four, number five. You know you have to get to number 50 before you find somebody on the Forbes list from real estate. Okay, now there are people who get on the Forbes list but I'm saying start at the top. There are billionaires from real estate but the vast majority, you know what they did? They got in early or they got in distressed. Elon Musk got in early to Tesla. He didn't start it. He bought it when it was low or he invested when it was low. That's a distressed acquisition. Part of the reason I don't talk about this as much on socials, this is a more advanced thing to talk about and most people who on social media want to hear very simplistic answers to making money. Unfortunately, the simplistic answers to making money in a world with billions of connected people will stop making money very quickly. So you gotta live on the edge, you know what I'm saying? You gotta be on the edge and humans don't like to be on the edge. One thing biologists know is all mammals and most species on earth, living species, right, are risk averse and even people that say, I'm not risk averse, I'm like show me your actions, you know? Do you have big balls? Like when everybody was freaked out in 2020, did you go out and buy a lot of stuff? Cause COVID year 2020 was the year that's gonna create a lot of wealth for a very small amount of people. Did you do that? And now you might say, but time watching this and I'm not old enough, well, go out, you know, Bill Gates was 16 years old on the phone convincing people to sell him, I think he was 18 when he bought DOS. You know, DOS's DOS was the original operating system that he used to build Microsoft and that made him the wealthiest man in the world. He paid approximately $50,000 and I don't even think he had all the money. The founder of McDonald's hamburger restaurant chain was the McDonald's brothers, but they didn't make much wealth from it. Ray A. Crock was a, he sold milkshake machines and he went into this Southern California McDonald's and he met the McDonald's brothers and he was like, man, this thing is early, but I see the potential. And he went out and I think he borrowed money from friends and family. Now, maybe an even uncle, I forget the exact story. There's a good book on this called, what is that damn? Forget the Ray, there's a book on Ray A. Crock. Forget the name right now. That actually made a movie about it. A decent little movie. And so he got in early and he became the wealthiest person in the world. So these are the things that actually create wealth. Crypto's okay, stock market's okay, but that's not where real wealth is created. At best, most people will do a little bit better than inflation. Crypto's a little, more people recently have created large amounts of wealth through crypto, but also a lot of people have lost it because it's volatile. And then one of the issues with crypto is there's low barrier to entry to create a coin. So every, you need brand. So here's, this is another more complicated subject, but it's late at night. So it's like, do I wanna talk about this? So the other dirty secret is basically only brands make a lot of money, okay? People, there's millions and millions of entrepreneurs who actually make less money. In fact, most in America entrepreneurs, they're called single employee, the IRS classifies them as single owner entrepreneurs, right? They own their own business. Most of them may take more risk and make less money than if they got a job as a McDonald's manager. It's a sad statistic. And the reason is is that because for the most part in this world right now, all the wealth is going into the hands of brand owners. If you don't believe me, you're on fucking Instagram, TikTok, YouTube, Speakeasy, Twitter, these are all brands. It's very hard to break into brands, but I got good news for you. There's brands for sale that you can wait until they plummet. And you don't have to build them from scratch and smaller brands. I bought a brand once for $10,000 as an experiment in 2013. Now it wasn't a brand as big. It was like a online education brand. And I put $10,000 in and the seller financed it, right? He wanted like half a million for it. And I'm like, nah, I'm not gonna give you half, but I'll pay you 10 grand a month. But I didn't actually use my own money. I gave him the first 10 grand out of my own bank account. And the first month I just turned on email marketing and it made an extra $250,000 profit. Then I took, I had it owned at 50-50 with the other guy, paid myself $125,000 that month in profit because the guy didn't know that you should do daily emails. He was doing twice a month emails. So I just implemented one strategy, bought a distressed asset, two partners were fighting. That's why it was distressed. And then I ended up selling it back to the guy. I don't know what I made. I probably made a million bucks from somebody else's brand, buying it distressed, you know? It's a simple thing. All you needed for that was $10,000. So building a brand, by the way, the reason social media is so popular is everybody kind of subconsciously now wants to be their own brand, which I got no hate against. I did the same thing. Just realizing the modern world now, how many people you think a day try to become an influencer? I started in 2012, I think maybe 2013's when I started, if you go back on my Instagram, I think my first posts are 2012, 13. Back then, it wasn't many people. So it was easier to create a brand. Now, here's the good news and the bad news. The good news is there's more eyeballs, right? Tiktok, between TikTok, Instagram, Twitter, you have whole continents coming online, like Africa's all online now. 2012, it wasn't as much. Smartphones were, internet speed wasn't there. So now you have a whole continent that are joining, right? So that's the good news. Your audience is getting bigger. But if you actually look at what happens, human brain, there's a bias. When there's too much stimulus, we look for like, we look for more authority from less people. So what's actually happening is a lot of the followers are accruing to like the Kardashians. Like I remember when the Kardashians had 40, 50 million followers, now that family has like 900 million or something combined. So what I'm trying to say is when everybody's doing something, it is harder to make money in that thing. It just is. And so to the extent that more people try to flip homes, you're creating your own competition. To the extent that most people try to become social media players, there's more competition. So here's a practical point. Become addicted to what's hard. What's hard in the whole world, trying to get addicted to what's easy. And so if I watch TikTok, I don't get going. I always say I'm like a drug dealer. Don't I don't get high off my own supply. I try not to look at social media as entertainment more than like 10, 20 minutes a day. But I still watch it because I'm looking for trends. TikTok, like what goes viral on TikTok is like six months ago, I was working at McDonald's and like now here I am in Dubai and shit. And I'm like, that shit ain't gonna work, man. It's too easy. Anything that's easy ain't gonna work. And so when people think about workouts, they're like, what's the one thing I can do one day a week that starts to get muscle. You should think of the opposite. You're like, what's the hardest fucking thing I can do? Because nobody's gonna follow you there. You wanna build a business? It's like, what's a hard business to build? Now, you know, I'm the CEO and co-founder of Retail Ecommerce Ventures. It's a tricky business to build. I have a big holding company, you know, we're on track this year. The different holdings that I have, some my own majority. Most of them we have at least voting control majority on track to do more than 700 million of revenue this year. I've got 500, 400 people work for me at the home offices and then across all the stores and stuff that we own is thousands. That's the more it's trickier. Now, I'm not recommending you try to do what I'm doing because it took me a while to build that kind of experience and I wouldn't recommend you do that on day one. But what I'm trying to say is it's hard. I don't have to worry about competition. I don't have to worry about the market becoming saturated. It's never gonna happen. From now to 50 years from now, not many people are gonna do what I do. I like it. I went to an auction the other day to buy a company. It's a tech company. Nobody showed up except one other party. I like that. One of my billionaire mentors, the first billionaire, he wasn't quite a billionaire. He was worth like 700 million dollars. I remember him saying, Ty, I try to do the hardest thing. He did nursing homes. That was his business. He was one of the pioneers of like retirement homes, but nicer ones. And he's like, I do big deals and there's only me and one other dude in my state that do these. He's like, I like that, man. So I just wanna encourage you all, but also warn you all. You stop looking for what's easy because it ain't gonna make money for long. Does that make sense? Oh, you read a Lamborghini every day. Okay, Twitter has so many different texts. How do you evaluate a tech company being a non-developer? I've developed more software than people realize. So experience, I have more experience than people realize in that. My mentor used to say, Ty, just remember, you can't, well, you did here. That's insane. Dude, my mic's been off the whole fucking time on Twitter. There's an example. What fucking stupid company is Twitter that when you turn on Twitter spaces, it defaults to fucking mic muted? Let me give you something good news. Business owners are still so fucking stupid you all can make money. Fucking stupid. Jesus Christ. I mean, just imagine that. You know, Zoom is a smarter company than Twitter because if you're on mute, if you are on mute, it pops up and say, did you know you're on mute? That's my, let me give you the best news. Charlie Munger says that if it wasn't for the stupidity of other people, you wouldn't be able to get wealthy. Well, shit, you're gonna be able to get wealthy because there's so few smart people in business it's mind blowing. I don't know if all the smart people become quantum physicists or something, but geez, you don't even, when I say do stuff, that's hard. Twitter, I think has 7,000 employees. I'm like, do you even fucking use your own app? I swear, I'm not even gonna say the name because I don't wanna get blocked on one of these big medias listening. One of the reps at one of the big social media companies, I was like, hey, can I message you on this one app instead of having to send you email? And they're like, no, that's not allowed. And I said, bitch, you own the fucking app. So let me get this straight. I'm not gonna say which company it is. You, I wanna email you. I wanna message you on the app you own that your company owns and paid billions of dollars for. But no, no, you have to use email. Like, that's insane. That's insane. So good news for you all. Yes, go after what's tough, but the world's become so weak-willed. I swear, I don't even know if any founder of any social media app uses their app anymore. Let me give you an example. iMessage, maybe the biggest communication platform in the United States. Has iMessage added one good feature? One good feature in the last five years. People say Apple's the best company in the world. My ass, what's app has voice memos that are easy to use? Have you ever tried to do a voice memo on iMessage? You hold the button down, your finger slides out, and you're just going, what are we talking about? So there's a good news. People are so lazy. I was giving you all a lot of bad news, but this Twitter thing reminded me of the good news. Like, the bar is low. The bar is low. The bar is low. As what's considered hard. You know what's funny? A lot of guys, it's funny. No matter, I talk more about business, but a lot of people are like dating advice and all this kind of stuff. Guy, the bar is so low. A lot of dudes are like, yo, it's like, oh, it's going to be so hard to get this that I want in life and to date this woman. And oh, women only like alpha men and da, da, da. Like, you know how easy it is to become an alpha man now when testosterone levels are plummeting in other men? It's all a relative scale. So yeah, maybe in caveman times, it would have been tough, but all you all talking about alphas and betas and sigmas and all, like, God. The mental masturbation that happens on social media where people think they're profound. It's not that hard to be an alpha, man. It's not that hard to be an alpha. It's not as hard as, you know, supermodel girl that I know. She once told me, she said, Ty, you know, whenever I go to a party, nobody ever talks to me. They talk to all the sixes that are like easily approachable. She's like, sometimes I'm in a mood. I would just go out with basically any dude. I mean, within reason, obviously, she's not going to go out with some psychopath. But the point is in the, look, too many dudes, so many dudes are playing video games now. So many people are playing video games. I'm not kidding you. So many people are playing video games. If you're a dude who just goes to gym three times a week, eats moderately well, wakes up. It's not that hard to start a business, ladies and gentlemen. It's not. If you can't start a business now, it costs, in Jeff Bezos' time, it costs him $140,000 to launch a simple website. You can make a website now with WordPress, Wix, Shopify, it's like five bucks. But people are still like, I don't know, Ty, I got to see how this pans out, man. I'm going, the bar is low. And that's the thing that keeps me awake. It keeps me waking up going, okay, because I work on a lot of hard stuff, man. I work on a lot of hard stuff. But then it's like a guy knows that, Ty, you want to play basketball with midgets. You know what I mean? Maybe I'm not allowed to say that word. Let me not say that word. I feel like TikTok now, gun shy. Someone said, bro, Ty looks lonely. I'm not lonely. I know sometimes people, it's an illusion because I'm live. So I'm not going to go live when I'm like with 30 friends. So it gives the, I actually, I'm like, I don't have that issue with social life. I'm an extrovert, man. I'm always trying to find time alone. This week, there's an example. Humans are very susceptible. You know, two things are susceptible. Whoever says to them, I'm an honest person, people believe it. I see it on social media. I know some of the people that talk about how honest they are. And I know the behind the scenes story, they ain't honest. They're not, the dude who tells you how honest and how much they care about you and they care about their followers, you think people, do you all really think people care about their followers? You really believe that? Do you get that encouragement? I see people be like, I just wake up and I just want to thank all of you. They don't even know you. How to, what kind of false love is that? It's so disingenuous. Why are people excited by that? I don't, I do not want somebody who I follow being like, I do this for you. No, you don't just like, I watch a movie. The actor doesn't have to get up at the end and say, yo, I did this for the audience. I'm like, just make a fucking good movie. That's all I care about. Hold on, I'm gonna go water. So now I realized one thing, if I draw on this damn whiteboard, I think it's gonna be backwards for half of you. I've done this before because I got the cameras front facing and then everyone gets butt hurt and says, tie your riding backwards. So I'll do circles because circles can't be backwards, right? So the way the billionaire, this is the masses large circle and the actual thing that billionaires do is like that one little strategy. How's that for a drawing? Big circle, small. In this big circle, people have, there's lots of books about how to invest your money. Basically the ultra wealthy have this like one little teeny thing they do. And that's the dirty secret nobody talks about. You know? And the dirty secret is, oh, I got to turn TikTok so y'all can see. It's just the DOE, distressed or early. So you got to be asking yourself, where's all the early deals? You know there was a dude who was gonna buy a Tesla? He had a 10 or $15,000 deposit and he took it back and instead he put it into this deal, this new deal that his friend told him about. You know what it was? Uber cab, it was called Uber cab. You know what it became? Uber. See that's how you make money. That dude's ultra wealthy right now. He's ultra wealthy. That 10, $15,000 before I turned into at least 15 million. I mean Uber cab, he got into Uber in 2010. 2010. Uber I think peaked at 100 billion market cap. So if you get in the seed round for $10,000, let's say it's a valuation of a mill, so you just get 1%, okay? Now there was a dilution in future rounds. So 100 billion. Peak market, if you own 1%, that's a billion. Now let's say there was quite a bit of dilution. You know, that's a 10 to 100 million from 10,000. That's that strategy, you know? Somebody said, Ty, but you're not a billionaire. That's not the point. It's not the way of Ty. That's why it's called the way of the billionaire. It's not just about me. It's what I've learned from personal relationships and mentors who are billionaires. I wouldn't, I had to be a billionaire. It's not interesting to me. Mark Zuckerberg has a $30 million annual security budget. You know what that means? That's public, you can see that. That means that his family's being threatened. You don't really want to be a billionaire, but you still learn from them. Just like I don't want to be on a Schwarzenegger or a C-bomb, but you can still learn how to bench press from them. You know? How do you find the next thing to invest in? Now that's a good question. So there's a lot of things you can move to San Francisco or New York, that's where a lot of the deals are. You can start joining Facebook groups. You can get on syndicate lists. You can go to Angel List. But you can also do something that I like to do. And I started out doing, do a house party once a month. It'll start out with like two people. And you just put the word out there that like, I'm serious and even if you're a beginner and like, I want other investors to show up and people start to show up. And it starts with two people and two turns into four, four turns into eight, eight turns into 16 and using the law of compounding. The next thing you know, that might turn into millions. That's how I built my social media. I didn't just do it through viral videos. I built a following in Hollywood, California. And so you start to get access to deals. People start to bring up like, hey, you should meet my friend. The power of networking in the old school way, get pretty women to come and then all the dudes will show up of all ages. Of all ages. I used to do some of the biggest house parties in Hollywood until I got shut down by the attorney general in Los Angeles. I did a party that backed up the Hollywood Hills for two miles because they're little teeny streets. And I got like a letter from LA. They'll find you like $100,000 per party. So I stopped doing those parties. But I did one, I did one at my place in Beverly Hills. Lots of people, I had 1200 people there. I built that from like two people to like 1200 people. In 2016, I did a party. Jake Paul was there, Logan Paul. All those guys were starting out. They were all there. That was, I've done all, that those parties progressed into James Harden being there, but it all started like, you know what started when I had no money in Raleigh, North Carolina at a little teeny apartment that I had a roommate. So I was like a thousand square foot apartment. I still remember where it was. North Raleigh, didn't know anybody, man. I came off a farm. So that's how you begin to network yourself into the way of the billionaire. So when everybody's buying, you know, doing their Vanguard index funds, which at best are gonna barely beat inflation, you're starting to get access to deals to invest your 1000, to invest your $10,000. That's how the game goes. And that's what I said. And you know why that's difficult? It's not actually difficult. It just takes patience. And in a modern world where people just watch shorts and reels that are at average three to six seconds, that's hard for most people. Society is exploiting your low intention span and billionaires are exploiting it. Who do you think owns all these platforms? I own this one here, but who owns all these? These are the ultra wealthy. Twitter might have a new owner. Another ultra wealthy. They're exploiting your low attention span. You know, your short attention span. That's why what's hot now? Reels, shorts, TikTok, everything's going shorter. Anyway, guys wearing a wig. It's funny. Nothing gets more attention than my hair. I like that. That just shows you about, that shows you, I can talk about advanced investment stuff. I can talk about 363 sales. I can talk about complex mergers and acquisitions dude will be like, what about your hair? It's like fucking talking to Crow Magnan, man. Crow Magnan Neanderthals are on my call. You ain't showing up here for my looks, man. I'm not a dude making money off my looks. But it's fascinating. That just shows you how primitive man is. Man cannot get past the eyeballs. It's like, dude, when I, I'll tell you this, I'm looking to meet ugly dudes when it comes to, all ugly dudes make all the money in the world because they're ugly so they want to get women. So like, I better make money. There was a famous billionaire who dated John F. Kennedy's wife once John F. Kennedy died. He said, all the money in the world wouldn't matter for women. What was that guy's name? He was a Greek guy, a shipping magnate. Why can't I remember his name right now? More thoughts on being social. Yeah, let me do, I'm gonna go to bed soon. Yeah, these are blue, like, this is a deal. I own a small percentage of this company called Swannick Sleep Glasses. These are the only blue blocking glasses that have like a Harvard scientific actual study that they help with things like sleep and stuff, you know? Somebody said, do you really only have 10 million? Where is that? I don't know what that means. Do I really only have 10 million? What is the worst investment you've made? Just anything that everybody talks about. So like stock market, it's like, ah, it's like, I stopped doing the stock market. You can do it. I mean, if you're old or if you're like, just wanna have a crazy low return that makes you money over 50 years, the stock market's okay. But even Warren Buffett, who's the richest guy from the stock market, he doesn't play the stock market. He owns controlling interests in company. Told you, he's using this strategy. Everybody else investing in their 401k, which actually helps him because he's a concentrated, distressed investor. He waited till Apple dipped and he bought like 7% of the whole company. He wired him some crazy number. What was that one trade Warren Buffett made? It's not a normal one. So as I said, the stock market, the real people make money in the stock market. He's not the average retail investor, you know? How many hours do you sleep at night? I try to sleep eight hours, man. Thoughts on Joe Biden. Politicians are just, when was the last time in 2,000 years politicians have been good people? Do you think good people are attracted to politics? Do you think that? If so, I've got a bridge to sell you. In general, sane people don't want to be politicians. It's very rare. Even George Washington, if you actually read the story of the founding president, I mean, these are people with big egos, man. And there's nothing wrong with the big egos, pro athletes, in my experience, knowing quite a few of them have big egos. But politicians take it to another level of big ego, power trips. So it just, what do you think? You think Joe Biden's a virtuous man? What president was a virtuous man? Name one. Think Abraham Lincoln was virtuous. Think George Washington was virtuous. George Washington had a slave who cooked for him for like 30 years. And finally the slave like escaped. He was an old man. And George Washington hunted him down as the richest man in the world, just for spite. Not cause he needed him, but just to prove a point, nobody runs from George Washington. You think he was a great man? That's your idea of a great man? Who do you think's a great man? Abraham Lincoln, who's the great man? JFK? I don't know what people mean. Ronald Reagan, like a lot of great people just live normal lives and die. And nobody ever hears from him. In general, history records psychopaths. Look, history is a little bit like social media and reality TV. The whack jobs get all the ratings because we like to watch it because it's entertaining to watch mental illness. Most of the people that go viral on social media have mental illness and people enjoy watching them. The game, you know? I don't like to look at Netflix. It's like, what's the best thing? The number one rated thing on Netflix right now, it's a story of a man with mental illness that eight people, you know, drill the hole in their brain and ate them. I don't find it that interesting, but people do. So that's another thing you should flip the switch on your brain and stop being attracted to mental illness, you know? Mental illness is an illness that needs to be treated by professionals. Should not be an entertainment item, you know? Trump is a great man. Somebody says, they said George Washington was a Freemason. A lot of people are Freemasons. Ty, you are smart. I like listening to you. I'm glad a few people like listening. Is Grant Cardone on here? Is that why somebody saying Grant is a great man? Are you on here, Grant? I like with Grant, come on here. Grant always has something interesting. Let me see if I can find them. Is that why all of you are saying Grant Cardone is a great man? Ha ha ha ha. Grant, you getting people to say that? That's good. Grant is a normal man, he says. That's what it was. Yo! What's happening man? Hello from Denmark. Hey brother, how you doing? I like the art, what is that behind you? This is a this is a piece by brainwash. Okay. Are you in Florida? Yeah, I'm in Miami. Yeah. So what's new with Grant's world? Bro just you know navigating through this crazy time where the Fed the Fed seems to be trying to shut the entire world out. So what this interest rate? What's this gonna do to real estate? You're the guy to ask on I'm actually glad you popped up because I got I was with I was with the guy who won a Nobel Prize in economics. I was like what do you think this will do to real estate? And now I'm gonna be like fuck the Nobel Prize I'm talking to Grant himself. Yeah exactly. What's what's raising this rate? What happens? I think this is the greatest real estate opportunity in my entire career. Okay. I'll buy more real estate in the next 18 months and I bought in 35 years. Because it would be distressed. Is that why? What happened is a number of things are happening right now. One is the nobody you know if you were trying to buy a home in January you can't you no longer qualify for that home. Right. A median price in let's say Vegas is 400 grand. Yep. The note on that house went from 1,700 to 3,500. Yeah. Plus PMI insurance plus maintenance. That guy's no longer qualified to buy that house. So you'll stop all home sales. Markets rates are down to 25 year lows. So what does that do? People have to live someplace that forces renters. And now that's the first part of the equation. Number two and I've been saying that for years we would become a renter nation. I just didn't know the Fed was going to be the one that made them all. The Fed's your friend, huh? Don't fight the Fed. No I hate the Fed but we're sitting on a bunch of cash. So we'll pay cash for everything that we buy right now. Yep. And the second part of it is the big institutions, Blackstone, Black Rock, Goldman, all these guys, they bought assets and they're getting hit with a double whammy. They were trying to sell these assets in COVID when COVID happened. So they delayed the sale. Like I'm looking at a deal that's 400 million bucks. They got 400 million in it. They were trying to dump it during COVID and COVID stalled it. So they actually had to extend the fund because of COVID. Now COVID's off, they have to sell it. Yeah. And now the Fed hits them. Yep. And that deal is probably worth 200 million bucks today. But the quality of their asset is like sick. Just because the rates went up doesn't mean the asset quality went down, right? So I'm finally getting those phone calls. We have five phone calls today from guys are like, I have to sell this before the end of the year. Yeah. These are big institutional quality assets. They don't have a choice. This is not, I'm a hang out. I'm a hang on. These guys have to sell. They have to get off their books. Some of them are having what's it called? They're having redemption issues. Yes. And some of them are having rebalancing issues where they have to rebalance because public companies, as you know, have to reassess the value of their assets. BlackRock wrote off a billion, a 1.7 trillion in April of this year. Didn't even make the papers. I don't know. It's a biggest single loss by an institution in the history of the world. And most people don't even know what happened. 1.7 trillion was written down. They'll write it all down. And then they'll take it all back to the market and dump it and show a profit before the end of the year and get their little bonus. Yeah. Well, that's all. I was talking about this. The way of the billionaire is not what people think. Everybody's being taught 401ks, everything that everybody, I said billionaires, and I'm glad you came on here. They have one single strategy. I call it DOE. They either get in distressed or they get in early. And you're what you're talking about is you're going to have the biggest opportunity to buy distress because when these funds have to go, they have to go and you're buying good stuff at a discount. Yeah. Yeah, they don't have a choice. Like there's nothing emotional about it. They're already over it. And they only buy institutional quality stuff. So that's the other thing like a Goldman Sachs. They can't buy garbage. Right. And so a couple things you said, first of all, I've, you know, I've met some billionaires. I know you have. None of them have 401ks. None of them have IRAs. Yeah. And most of them did not make their money in the stock market. Yes. They made their money because of the stock market because they utilize this machine and jumped off. They vomit on the stock market. Exactly. You were talking about Warren. Warren didn't buy Apple until he understood iTunes was a cash flow machine. He stayed away from the technology. And when somebody finally explained to them that the iTunes account would be this the apps were getting whatever the 30% of a dollar that he then he finally took his position and he always takes a monster position. He never he's never bought a mutual fund or an ETF. He tells people you guys should do this because it does fund. He's the best salesman on exactly. I don't think he's the best investor. I think he's the best salesman because he's this old grandpa guy that convinces everybody to do what he won't do because it helps what he does do. You have to do what billionaires do not what they say. Exactly. And most of us I mean I'm not built to go start a company from scratch. Maybe I will one day but at this point I'm not I'm not a coder or technology guy. I'm never gonna come up with some great discovery. Right. I'm not Elon. But but but Elon didn't start Tesla. He put six million dollars in for every hundred grand he put in early when they were distressed is worth 900 million. He didn't even start Tesla. Two guys started. So you know buying existing assets early or when they're distressed is where the money is made. And I know you've been doing that. You've been doing it through COVID and all the way through. Yeah we we we bought a billion dollars worth of assets during COVID from institutions that had to sell at a bad time. That's why my fund is set up to where we don't we don't have a I don't have a gun in my head. I had dinner with Warren and he's like well you'll always make money because you don't have a gun to your head. Most these guys violate the first rule which is somebody else tells them when they have to sell so we don't get money from there. I know you don't either. Yeah that happened to a friend of mine. He had a good asset. If they would have held it another two years it would have sold it for probably two billion but what happened is the fund reached its life cycle so they just call up and they go sell and they don't care. Yeah he lost a billion dollars off that. Look at Trump. Trump lost the plaza. Yeah. Because his debt was due and he had too much on it. He didn't have the cash flow that I talked about and so I mean the plaza has got to be one of the top five best pieces of real estate on planet earth. He lost it because he had a gun to his head. Yeah. So you look great bro. Yeah it's good to see you man. I'm I'll be back. I've been in Europe for a while so I'll be back. I'm gonna swing through Florida. My cousin came through. Maya she was there at your office. I don't think you were there though. No I wasn't. Where are you going next. Where's the grant jet going next. Well my plane my plane's being painted right now so uh but my partner's got me going I'm using this plane right now he's on his way to Abu Dhabi to do a deal with the UFC. I was with Dana this week and I go. What is it about. What's the are you allowed to say. What's that. What's this kind of UFC deal. Oh yeah well we got Dana on 10x health and then he's tripping on it. Okay. So he's like hey man I want to be a partner in your company so we're trying to figure that out right now but it'll probably happen. But I go to Houston. No I go to Austin. Tuesday to shoot this show called Real Estate King. I'm shooting half a part of it in Houston and part of it in Austin and I go in and fund somebody's piece of real estate. Nice so it every day we're very beginners kind of thing. Is it like beginners in real estate you come in. I mean no not necessarily it could be it could be a beginner it could be a guy that found a great piece of real estate but he doesn't have the money or the debt or he needs some help or he doesn't have all of it and then I go in I take 12 people look at their deals cut it down to like four and then have them have them you know tell me why their deal's the best and why the other guys deals are terrible and then I fund one of the deals. So we're doing 10 cities this year I'm producing the show because I'm sick of the way TV produce the shows and then we'll either sell it or keep it. You need to buy yourself a big network man wait till NBC or somebody's distressed. Well you know they're probably already distressed bro. Tick Tox Eaton's everybody eatin everybody's lunch man media's gonna go through. Well look hey when you get back to the States bro uh before you become a European come come come see me all right. All right man good to see you Grant. We gotta catch up good seeing you. Say hi to the family. Okay bye. Alright. Uncle G's in the house who's buying a jet I've always gotten along with Grant Cardone gotten to know him years ago and he's doing precisely what I said he's doing off market deals he's waiting till they're distressed he's going the opposite of everybody else and to the extent that you do that that's what this new book I'm working out it'll be out in about a week. It's gonna be e-book and and you can get a copy if you want just call the way of the billionaire not trying to make much money on it I'll probably just charge shipping kind of thing like people do but there's a single strategy just one that the ultra wealthy do this is what they teach your kids see I didn't grow up with parents who had wealth like that you know I lived in a mobile I graduated high school living in a mobile home in Clayton North Carolina so I wasn't dirt poor like I always had food but you know I was in a mobile home so you're not wasn't exactly a luxurious life so I went into this world with a lot of my ideas of investing from the mass media from movies movies affect people people see movies and think that's real and then it's not and it's not the actual things that make you money are contrarian things that you catch early that take a look you know the average wealthy person they've studied their personality and there's like five personality traits that the ultra wealthy have that regular people don't have one of them's conscientiousness which is broken down into things like organization discipline so on but another one is higher tolerance for risk you know that the average person will quit anything after three embarrassing moments isn't that interesting like 99% of the population will quit anything after three embarrassing moments you know a lot of people don't go to the gym because they're overweight and they'll look bad in their gym clothes when they go the first time does that make sense so to the extent that you can think the opposite of the masses so the way you think about things is hey I don't care if I'm laughed at all I care about I'm optimizing for a single parameter I always tell people have no fear except for living a shitty life that should be your obsession it's like how do I live an amazing life so if that means for a year you go to the gym and everybody laughs at you because you're out of shape and you look horrible so be it but 99% of people can't handle that stress so 99% of people who invest in crypto the second it dips they sell and so they buy high and they sell they buy bitcoin when it was in the 60 thousands because it was hot and then the reason bitcoin drops you know bitcoin drops for one reason you know it's not mad people don't understand the reason crypto drops it's in an auction type situation and there's a buying and selling in the second there's more sellers than there are buyers in the stock market or in real estate or in crypto it drops so it's actually people who can't handle any pressure any risk destroy everything does that make sense and so to the extent that you're not affected by that and if you got into bitcoin at 68 thousand and it drops and you don't care and you'll just wait you're taking risk but that is a personality trait of the ultra-wealthy now you can't take too much risk and you can take stupid risk not all risk is good risk but to the extent that you can stay cool under pressure that's a trait of wealthy people and again you don't have to want to be a billionaire and you don't need to be a billionaire to learn from them just go straight to the top you want to learn basketball watch old videos of Kobe Bryant Michael Jordan watch some LeBron James stuff you don't need to learn from your next door neighbor you don't need to learn from your parents go straight to the top you want to learn to be a great public speaker who's the great public speakers on this earth right now you can see them all over social media go follow them you want to build a podcast don't study your friends podcast go to itunes you can see the top five podcast rankings study that person you want to know how to be great at youtube study mr beast he's pretty good i got the normal a while ago took him to a new york nicks game right before covid it's interesting it's a god good artist copy great artist steel that's what Pablo Picasso said so one of the ways you create wealth in your life is not just swimming against the grain but also feeling your feeling most people are emotionally dominated even the ones that say they aren't that's why i said the average person if people laugh at them three times they'll quit anything anything you name it people will quit it so a lot of people want to grow their social media following what actually happens i've been watching this guy i forget his name and i remember him post he posts every day on instagram and he started out like 20 likes 30 likes a year ago and i'm watching him just dude starting to get three to five thousand likes per post and i was like this guy's an outlier man average person anything any resistance three sets of resistance whether it's laughter or something feels a little bit hard people stop anything so the way of the billionaire is not so much about trying to become a billionaire or glorifying the morality of billionaires that to me is irrelevant billionaires are just humans to the extent that they were bad people before they were a billionaire they'll probably be bad people now personality it's a myth money doesn't change people quite as much as you think power changes people more than money and don't think they always go the same there's politicians who have power but not a lot of money power is more likely to corrupt than money but money to a certain extent eventually will build some level of power Pat money builds status and static at status is a fungible kind of usable power and but in general I find people do not change that much personality traits are very stable over your life people with high dark triad traits narcissism macubillionism psychopathy people with what's called the dark dyad that's the five worst traits in humans things like sadism stuff like that that stays very stable whether you're poor or rich so don't worry too much about money corrupting you for the most part making more money will actually require you to do some virtuous things become more disciplined become more organized wake up a little bit earlier give up a little bit slower you know so thoughts on Tony Robbins I always like Tony Robbins I'm not really a hater you know a lot of people I watched and I see stuff and it's like what do you think of this influencer I pretty much admire anybody who makes it even if I don't love them as a person it's not a good I'll tell you social media is full of people doing a lot of comparative don't compare learn from people you see what I'm saying don't compare or try to drag somebody upward I don't elevate people into some virtuous space and I don't drag them down neither neither I'm just like what can I learn what golden nugget does that person have Kardashians okay I don't want to be a Kardashian but there's something I can learn from them how that family built an empire what they did they understood PR now you might say oh they did stuff that we would you might say you're more virtuous than Kim Kardashian maybe she did a sex tape whoop they do great for you you know but shit if I could look deep in your subconscious you have some bullshit going on there too so don't get too high on your horse in this game you know don't be a comparative machine become a learning machine it's much better all I care about is like what is the little thing I can learn from this person and you know Abraham Lincoln a great quote he said he learned from everybody you know even if oftentimes it's what not to do there's a good book on this called Outliers by Malcolm Gladwell it's a pretty powerful book man it's a pretty powerful book so yeah I'm gonna go to bed soon it's getting late damn watch for this new book I hope to have it done soon that'll be called the way of the billionaire I'm getting I'm knocking it out all right real quick question answer thoughts on marriage you know they say my mentor Dr. David Bus famous psychologist evolutionary psychologist he just said died like 25% of people love being married 25% of people are neutral on it 25% of this is rough approximations it's not exactly 25 he was this is this concept of personality being on a spectrum right and things they call this if the scientist calls liking marriage is your attachment style but also things like sentimentality and independence so some people have higher dependence I don't mean that in a negative way if you look at a hexaco score hexaco is probably the most cutting edge psychometric test some people enjoy being in a dependent relationship and it's not a bad thing I mean some Elon Musk has been married basically forever always to some woman he probably he says he likes to be in a relationship so don't think it's some sign of being a beta or something it's literally a genetic code most of these type things are very genetic okay free will there's less free will in this world than you think okay there's less trust me there might be free will but it's a hell of a lot less than you think things almost every personality trait you can think of how patient you are how perseverant you are how much of a hard worker you are these these are heritable factors not a hundred percent heritable but they're probably 50 percent so anyway marriage some people love it some people hate it and it's always been that way even when marriage was forced upon all people some people always hated marriage always the 1800s a lot of women were like I hate being married so I think you have to know your psychometric type and be like am I the kind of person that's really excited to wake up and see the same person over and over again some people are a lot of people are and a lot of people aren't and the good thing about the modern world is you can make that choice what you want to do but don't think it's a hard and fast rule there's too much stuff on social media that's everything's hard and fast rule like if you want to be married you're a beta or something it's not that fucking simple remember what Albert Einstein said you should make things as simple as possible but don't oversimplify you see the social media is the oversimplification of complex topics it's a real it's like a sickness but it's good what's the first step to becoming a billionaire not being like 99% of the population that after three times of being laughed at gives up 99% of the population I forget I saw the study it was like 80% of people give up after the first hard encounter or the first negative social proof right and then like at the second one it moves up to about 95% of people stop and then at you know one more pain point like almost everybody stops so that's the beginning that's the beginning of all big things some people give up easier than others I don't think people realize how much stress Elon Musk went through to build Tesla it's a nightmare he said it his own words like and but the guy doesn't give up man and that's the first step for him sorry gotta charge this most people give up at an insane just like mind-blowingly easy that's why gyms make all their money and the first I mean gyms make all their money in the first month or two everybody signs up and then they never come back so you can sell you can have a little gym and sell like 10,000 memberships because you know like 99% of the people once they're sore one time and they're like I ain't going back would you recommend posting on social media or is your number one book you recommend that everyone should read civilization and its discontents by Sigmund Freud or the selfish gene is a good book or business book there's a good book called the everything store about Jeff Bezos there's a new book on Tesla Elon Musk what's it called the something effect I forget what it was called it's a good new book oh did Instagram freeze now that happens sometimes it's funny is the power of now a good book you know I've read that book I never found it as interesting as other people someone said Elon is soft now I don't think Elon soft man sorry to break it to you Marcus Aurelius meditation yeah I'm not a fan I don't think like stoicism is as important as everybody thinks I'm not anti stoicism but it's not so fascinating is my Instagram not doing any audio I can tell because the comments stop so by the way I should do a shout out follow me if you don't follow me follow me if you don't follow me someone said is my heart open I hope not shit needs my chest needs to be closed up man someone on tiktok says they have an education tech company making five million a year how do you get to 10 or 20 scaling is an interesting question first off you got to look at the TAM is there a total addressable market that's big enough that you can actually scale oftentimes you can't you know so sometimes you're in a small niche and you've reached the max of that business right can someone on speakeasy real quick can you pop over to Instagram live see if my audio is still going are you in sales everybody's in sales your life is sales to the extent that you don't think you need to sell you probably need to sell more everything's a sale now sometimes there's cheesy sales and sometimes there's honest sales but the peacock shows its feathers the walrus shows how big he is it's all a sales game you know and you got to sell your if you have children you got to sell your children on taking the path that you want them to take to the extent you have issues with anxiety and depression you have to sell yourself every day that is going to be okay is going to be okay and you should get out of bed you know to the extent that you ain't getting paid enough and you have a job you have to sell your boss on this or whatever decision maker on the fact that you're worth more money you know no I didn't say if to sell your children I said you have to sell whatever life you want for your children you have to get them on board with it thoughts on real estate outside the U.S. be careful don't do it in places you haven't been but if you've been out of the U.S. it's great a lot of money made outside of the U.S. do you have personal credit Ty yes I forget my credit score is probably I don't I don't use credit that much but probably 750 800 or something like that 700 800 I don't know some people really focus on credit which is fine get your credit up I don't think it's the end all be all of all finance but it doesn't help to have I mean it helps to have better credit especially if you're financing stuff it's not the number one skill that I think is out there I think there's a lot of other more important skills most important skill is to be a learning machine there is no greater skill so I Charles Darwin said it's not the smartest or the strongest who survives the most adaptable so you become a learning machine as you become more adaptable because what's the conduit for adaption you have to be observing imbibing information and then quickly comprehending it and spitting out an action plan so those of you who are adaptable learning machines are going to do great and those of you who are stubborn set in your ways emotionally fear based you're going to have a rough game I wish you the best but you'd be better off to change most popular drug in Hollywood narcissism man dopamine I'm not in Hollywood now but I live there how do you handle loan debt you know I'll tell you this for those of you who have loan debt call the people you owe money to work out a deal you can call anybody you can call your credit card company you owe your mom money you will call it and sometimes it'll work and sometimes it won't but call one of my first mentors he wasn't a billionaire but he's a millionaire he's like Ty if you ain't afraid of the phone you'll always be okay financially but if you are afraid to make a phone call you'll be in trouble the phone is an old school way that still works call people tell them a story be like look this is why I can't pay your credit card thing I wasn't working on it doesn't always work but it works more often than you think works more often than you think somebody said Ty I'm drunk but I definitely love your Speak Easy app well that's good we're bringing on some big influencers here on Speak Easy it's a free speech app do I think Madonna is smart to the extent that Madonna got what she wanted out of life she's probably smart and I think she got a lot of what she wanted is she smart in the sense did she benefit you? probably not there's different levels of smart there's exploitative intelligence where people use their intelligence to exploit you not that Madonna did I'm just saying there's also neutral intelligence other people are intelligent but it doesn't benefit you in any way you know that's most intelligence more Madonna became the biggest pop star on the world I read she had the same IQ as Bill Gates I don't know that's a good thing but people get to the top are rarely dumb exploitative sometimes but not dumb Ty how do you are you able to maintain this mentality? how do you do it? having your perspective grounded read a lot man I'm still going to tell you all not everybody agrees with me that's fine fucking read a lot I have never met all the people that I know there's exception go to the top of the Forbes list those motherfuckers read anybody doubt you know I got a lot of flak for saying to read a lot shit asking a lot you know my sister wrote a little thing recently he used to read two books a day I used to say you know I was like I read a book a day and people were like oh but that's impossible you're a scammer I'm like Elon had me beat and a hundred percent hundred percent you know you read two books three books I've read four books in a day I don't recommend that that takes a lot of time but turn your audio book on man you turn off the video games hit the gym with an audio book on set that sucker on double speed be in the gym for an hour I like to walk to and from the gym so I do my business calls but if I got any time put some music on I mean put some audio listen to less music damn it y'all fucking addicted to music music just makes other people hyper wealthy everything in balance there are people listening to literally hours of music it's insane never now if you're a musician then you should listen to hours because you're making your money you know do not turn on audio books listen to biographies they don't all have to be business books find something that appeals to you you can do some nonfiction do some I mean you can do some fiction but do some nonfiction too fiction has its purposes too don't get me wrong but you need nonfiction listen to the biographies of great people who have accomplished many things they don't all have to be billionaires listen to you know I was this I read the book about Malcolm X I'm reading a book about Muhammad Ali read a book on Elvis recently I read a book on Jake Gould I'm reading the book right now Harry Truman President of the United States interesting story read a book on Vanderbilt I read a book on Catherine the Great I read a book on the Romanoff Empire I'm just thinking of recent ones that are biographies and kind of history based I just read this Lessons for Titans it's amazing best this is the best business book of the last year Lessons for Titans it's the story of case studies of the longest lasting successful organizations read a little Peter Drucker you know the great teacher on management theory how to manage yourself you know how to read some science read something like Richard Dawkins or read Robert Triverse is a really he's kind of the father modern evolutionary biology read what else have I been I read some books over and over I read Civilizations Discontents by Sigmund Freud I'm reading a book by Jung who was the student of Freud he came up with the word introvert and extrovert if you've ever taken 16 personalities of the Myers-Briggs test that was created by that's Jungian psychology I was reading his book he has a there's a textbook on iBooks I was reading a book about George Washington that's what I was talking about I read the book on reading a book on a president of the United States that not many people Garfield one of those presidents strange name Garfield not many people playing Garfield but interesting story his story I don't know if I've been reading that's probably the last 20 books I've read Thomas Sowell I get a lot of people that like Thomas Sowell thoughts on metaphysics yeah that's good what's my personality type I'm ENTP good investment book what do I think of 48 Laws of Power I never liked that book I mean 48 Laws of Power is how to be highly Machiavellian and tricky and kind of like manipulative it's basically how to enhance your mental illness you know it's like if you're a psychopath let me show you how to be a better psychopath like I don't know I don't read that shit better to read the age factor of personality I read a lot of psychology basically you're better off reading psychology if you want to understand business because all but you what do you think Steve Jobs was what do you think Elon Musk is he's a master psychologist that's it this guy I mean not that's it he obviously has other skills he is a king of psychology he's king he knows how to build a following he did his doge coin he knows how to stay relevant it's you know the man's a mass psychologist what do I think is the meaning of life oh you know to the extent in general people are going to invent their own meaning and people that say they're not inventing because they're like no I'm part of this religion you chose that religion so I mean you're still inventing your own religion and and a lot of people on here be like no I know exactly what happens after you die okay great you asked me I don't know what happens after I die I do know that other people are sure they know what happens after they die but confidence isn't always confidence is it many I'll tell you this I've learned about lawyers all lawyers always act 100% confident even if they don't know what the fuck they're talking about I've done lawyer this I mean on average I have deals I've probably spent five to ten million dollars a year on lawyers deals buying companies lawyers are a strange breed most of them but so are a lot of people they have more confidence the confidence than they have confidence sometimes I meet people like I can tell you Ty everything about the meaning of life I'm like bitch you can't even manage your own life look at you why am I supposed to believe you have the keys to the kingdom as to what happens in and understanding the true meaning of life like what true meaning of life humans have a median prefrontal cortex mpfc right here and it makes you be able to contemplate things that other animals can't a lot of animals don't have that part of the brain and therefore we can ask questions like what is life meaning Sigmund Freud said as to the question of what is the meaning of life he said maybe it is a question it's a question that's never been satisfied maybe because it doesn't have an answer he said you never ask when you look at your own dog in your house you don't look at it and say what's the purpose of that dog's life do you humans are narcissists so it's very important to them to know they have meaning and to know that everything's gonna work out and it's a very narcissistic approach your dog just lives your dog just lives your cats just live your horses just live you know they live but it's not everything has to be about them what you're really asking me when you say what's the purpose of life you're like in this complex universe where you can go into space and go for light years and you still haven't gone any length of distance we don't even know how many universes there are within universes but type hear me on this little earth this little you know atmosphere what do you why am I here it's very important for humans all primitive tribes did the same thing Native Americans Apache Sue they had to have you know they have an origin story from a turtle it's very important to them you know what the word Apache they didn't call themselves Apache they didn't call themselves Sue they didn't call themselves Navajo Hopi you Indians Arapaho all that most Native Americans their tribe when you translated in English meant we the people we the center of the universe it's very human look at a map of the United States we put ourselves in the middle even though Russia is this huge thing in Africa and Austria we're in the middle and every country does it that way and nationalism on the rise it's like America people think America is God's chosen country well I mean if there's a God I doubt he chooses a country like that really I mean that seems like a low IQ thing if there's a God God's gonna have the highest IQ ever you think it'll be overly simplistic and be like there that part I mean the map on the boundaries of the United States is new 50th state was Hawaii I think in 1950 so I mean it's like what when you say America's great like it's bullshit so that's another thing it's skills to be able to rise out of your own narcissism that you're kind of embedded in the front of your brain and you just realize just go forward just like I have horses they just kind of go forward they wake up they procreate they eat they enjoy and they die and that's okay and it doesn't have to be bigger than that you know and that all I think that helps you in trying times and people are depressed because of chemical reasons and genetic reasons and sometimes situational and sometimes people are depressed because they're like I should be here but I'm here but really should you like what do you mean like should you be where should you be I don't even know what that means should you mean like you have an intrinsic right to be there like just another pawn in the game so am I that's okay to be a pawn in the game the man people come and go the wealthiest man like I was talking about Jay Gold the wealthiest man in America you never heard his name before that's how quickly empires rise and fall people you look up to now your grandkids will never even ever have heard an utterance of that person's name I guarantee you whoever you admire now is a cog in the machine but there's good news in the cog in the machine when you're a cog in the machine not everything has to go well every day and every moment you know not everything has to go well and you know I met a guy he works for me now and he's like I was really fucked up man because my father wasn't there I'm like that shit happened all the time what do you mean your father wasn't there World War I I was just reading a book about World War I my uncle my grandma's brother was in World War I he died sorry he was in World War II her father my great-grandfather was in there and he got shot he's like a hundred million casualties in World War I and lots of people grew up without a father because their dad died and they were okay you'll survive but he this guy was angry about that like this world owed him like you have to have a father what you don't have to have anything you have to have a father at the moment of conception that's about it you don't have to be angry about it you can wish and say I think often my dad was in prison when I was born I often think what things maybe were better if my father had been there but maybe some stuff would have been worse maybe I went on the journey that I am on because I had to so the entitlement narcissism breaks into seven subcomponents if you talk to a psychologist authority superiority self-sufficiency vanity exploitativeness and exhibitionism all seven did I miss one exploitativeness is another one and so one of them is entitlement so when people are often depressed because the world didn't go that way I'm like you're just rooted in deep seeded narcissism you can be happier by just realizing nothing really had to go any way it could have gone any way and you'll be okay sure some outcomes are better and less painful but not it you know that people who have a serious accident like lose a limb they often recover very quickly it's great they basically recover at the same speed that they recovered from other things it's a stable personality trait how you react to pain it's pretty stable some people go through tremendous trauma and they turn out to be like amazing people and other people kill themselves this variability among humans is just wild you know the variability among humans so anyway these are more complex concepts of genetics and stuff which is too controversial to talk about so I'm gonna go off TikTok because I'm like wait a second TikTok last time got mad at me we're talking about something anyway follow me look for the book it's coming out soon and I will talk to you soon bye speak easy