EYL #3 Scared Money, Don’t Make No Money.

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All right, Welcome back, Episode three, Episode three. Let's get to it. First of all, thank you for rocking with us. We appreciate y'all, and I want to shout out I got this dope hoodie merch tag the Brother, but thank you as well. It's called flight risk it's an interesting story behind that, but check its page out, check them out. Thank you, I appreciate it. Okay, let's get into it. So we're gonna talk about the biggest event in sports

Last week, we talked about the marketing of the Super Bowl, but another huge part of it is the amount of money that's gambled on the game itself. So the Super Bowl took in one hundred and thirty four million dollars in bets on the game, prop bets, halftime things like that. So we're gonna talk about sports betting on a national stage. So we have seven states right now in the United States that have sports betting, with New York being a state that is on the fence about it. So you

When you say they, so who who gets them? That's the state revenue? Who makes that money?

The state makes that Well that's the way that the state made, but the stand companies made. So the companies take a percentage, the state takes a percentage. New Jersey didn't give the details on how much they they take from it. So, like I.

Said, that's so that's a total revenue.

Yeah, total revenue. So, like, like I said, Delaware takes fifty percent of the revenue. New Jersey didn't release it the figures on how much they take from.

So Delaware takes fifty of the revenue tax. Yeah, that's interesting. So let's not to cut you off. But so I didn't I didn't realize that the tax that is paid that gamble gambling institutions pay. Right. So we're in New York, right, I know we have listeners all over, but we're in New York. So there's New York gambling is not really league legal right on that level. It's like slot machines and stuff like that. So there's a casino where we live, right,

Yeah.

So now you're saying that Delaware pays takes fifty percent. Yeah, but she was saying, even but this is how much money gambling makes. Even though they pay seventy percent of their revenues to the state, it's still profitable for them, exactly. That's how much money they've brand.

Right, So like that number, and now that we were in twenty nineteen, you can just put that up to one point two billion and six months. Right.

All they did was legalize it.

And the interesting I think I was saying about New Jersey is that most of their betting takes place online. So that's when you get sites in independent sites and FANDU and DraftKings who are sports who actually now have sports books, so people can literally gamble in their hands. So I remember a time, so.

Just briefly explain that for somebody that might not be a sports fan what that means.

So FanDuel is a is an app, and DraftKings both of them are apps where you can it arise from the daily Fantasy games. So people were playing Daily Fantasy and putting money in to start pools and then they fan do and DraftKings come up with an idea like, listen, we can do this on a daily basis. You don't have to wait a week. You can do it twice in a day that they change the parameters. So I can put a lineup together at for one o'clock games, and depending on how those players that I pit perform,

So you're pretty much you're picking your team.

Yeah, you're picking a team every time you bet, okay, Yeah. So from that they decide after New Jersey legalizes that they're going to create their own sports book. So a sports book is where you actually place bets on games. So that's like a bookie. A bookie, right, you get a ticket. So New Jersey has a sports book. The interesting thing about New Jersey is that it's ten minutes from New York City, right, so pending, well, let me

So they track it via your phone, right, So the GPS and your phone.

There's an interesting story about that.

Well, before we even get to that, it's important you're being tracked at all times.

Absolutely.

You know, when I found out I was being tracked at all times. This is kind of going off topic, but it's interesting. So I used to have a BMW right, and the car kept out having problems, so I had to take it in to get service and they asked me, They said, you don't do a lot long distance driving, do you. And I looked at him, like, how do you know that? He's like, we looked at the GPS and that's why. I'm like, they really know where my

It's like when you drive now and your watch says eight minutes away from home, I'm.

Like, all that is all that? So exactly your iPhone, I watch, all of that has a GPS built in, so they know where you are at all times.

Yeah. So the crazy part is, and going back to that GPS thing, is that in I think twenty sixteen, the Attorney General for the state of New York I believe Sneyderman was his name. He says that this is illegal. You can't use FanDuel. This is illegal. We don't know how to regulate it yet. So DraftKings and fan do gets suspended, so you can't use it in New York State.

So what would happen if you try to place it bet in New York? It wouldn't go through just because GPS.

Yeah, you get the message like you are not in a state that allows fan do to be played.

If you if you take one step into Connecticut, you're good. The GPS changes.

I had a friend of mine call his sister in Las Vegas to log into his account to say, listen, can you put a line in for me? Please? It was that serious, right, So that got lifted over I believe two thousand, summer twenty seventeen. So now you can use FanDuel for the daily fantasy portion, but you can't place the sports. You can't use the sports booking part of the app, not yet, which I think will change.

Hold your breath.

I'm fighting for education. You know that. I'm always gonna fight for that.

Okay, all right, okay, okay, So sports batting billion dollar industry, billion dollar industry. So keeping it in sports, we were actually had a conversation last week about George Foreman, right, m hm. So George Forman is interesting for a few different reasons. Yeah, right, as anybody that followed me knows, I like to do case studies or not just businesses, but individuals as well, entrepreneurs and like the backstories on deals and stuff like that. So George for what is he known for?

George, He's a generational personality, right, Like I said, like, depending on what generation you come from will determine on how you remember George Foreman. So like my dad and your dad, they know him as the great boxer, this Hall of fame guy who gets roped by Muhammad Ali and he's known for that for a generation. Then the next generation, I feel like our generation to a certain extent, is like, he's the guy who's out of shape, why

Selling a product. Yeah, so this is the way.

This is.

A legendary product.

Okay, So I gotta tell his story. I gotta tell his story in full detail. So George Foreman was a legendary boxer, right, who in the seventies. He retired from boxing in nineteen seventy seven, Right, first time he from box in nineteen seventy seven. Yeah, he had five million dollars at the time of his retirement, which is equal to twenty million today.

That's not bad for a boxing not bad for anybody.

In ten years. By nineteen eighty seven, he was flat broke. In his words, he's flat broke. He made some bad investments. You know how athletes go broke. There's a long list of reasons why Flat broke in nineteen eighty seven, which forced him back into fighting. So he comes out of retirement.

It actually wins, No.

He does win, but he so. In nineteen ninety four he became champion.

Yeah, he beat Michael Moore.

I think so the oldest heavyweight champion at that time in history, forty five years old.

It might still be that belly out World.

Nineteen ninety four, he becomes a heavyweight champion of forty five years old. Another interesting thing happened in nineteen ninety four though, right, So in nineteen ninety four, not only is he the heavyweight champ, but Hawk Hogan is the ww F cham WWF. People don't even know what WWF. It's called w W.

Now now, Yeah, they had the lawsuit with the world what was it the It was an animal organization that had that name, and they lost the lawsuits and that the teams into w W.

E anybody that grew up in the eighties or the nineties, So I grew up in the nineties, right, anybody that grew up in the nineties. Wrestling played a major part, huge in the culture. Absolutely culture your favorite uh undertaker?

Yeah, I like to undertake it Ultimate Warriors. He played the part he played Ultimate war past rest in peace. So hawk Hogan icon absolutely.

I don't think people fully understand how iconic Hawk Hogan was, Like you actually had to be living in that moment the Beatles.

It was a hope, like it was a real thing.

Like I remember watching that and that was when wrestling came on at Saturdays at eight o'clock and then it came on as Sundays at twelve like before it was a Monday night rule.

Different.

This guy was like Hawk Hogan superstar. Different superstar Michael, He's Michael Jordan of wrestling. Yes, him and Andre Giant. They have that in like the that that match at Masters Garden as one of the biggest moments in the history of New York City. Like when he picks up the all like Monstrous Andrea Giant and does like the slam on. It's like the one of the best memorial moments in the history of the Masters reguard.

Hawk legend legend. So all right, So nineteen ninety four, they're both champs, right, they also both have the same business manager. Oh okay, right, So hawk Hogan at the time is bigger than George Foreman. So the business manageher meets with Hawk Hogan. He has three products for him to endorse. He offered him three products for endorse. Yeah, he had a pick one. One was a grill, one was a meatball maker, and one was a blender. Right, he chose the meatball maker. The meatball maker of the

I didn't even know.

No, he chose the Hawkermania meatball Maker. That's what he chose. Now. He told the agent, get somebody else, get one of your other clients to endorse the other the grill and the blender. So at the time, George Foreman was eating two hamburgers before every fight. It was like a big thing. So he thought that it would be a perfect person to endorse the grill. So George Foreman agrees to endorse

So it's like a masterpiece.

And his name was on it, which we know as the Form and Grill. Right, he makes up to eight million dollars a month with the forman Grill. He made so much money with the form and Grill that eventually the people they realized they made a bad deal because they gave him too much, so they say, Okay, we got to get away from this. So in nineteen ninety nine they make a deal with him. They pay him one hundred and thirty eight million to buy him out and to use his name in perpetuity.

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With the product forever. He takes a deal, So he made over two hundred and fifty million when you add the money that he made before nineteen ninety nine and then the lump sum one hundred and thirty eight million payout that they brought him out with in nineteen ninety nine. Stop game change that this hereuysn't looked back since I.

Mean, and those grills, I mean, every household has no.

It's one of the best inventions ever made that made like.

The list of best invasion.

No, it's definitely top three because when I was in college, I literally only cooked on the Former Girl. Yeah, I know a bunch of people who became chefs off to the formula. It was ridiculous.

You can cook anything on the Former Girl.

We went from Gavin to Hamburgers at eight at a time.

You can cook corn for the Former Girl.

It was ridiculous and it was easy to clean. It was perfect. It was a perfect problem.

So do we blame hawk Hogan or do we just chalk it up to just look because who knows the grill is going to do that?

Right? No, I don't think we could have predicted that. No one could have predicted that, right, Like he would have done that if he had known the grill. But could you imagine the whole Cogan grill?

Little known historical fact, and that's why we're here. Little known historical facts like that changed the cost of history. All right, Okay, okay, all right, So let's change change topics, lanes, let's change lanes, and let's talk about the art world. So this topic is something that is near and dear to my heart. A little known fact is that so I used to play sports. Yeah, but my first passion was art first love. So I used to draw, and I actually was in a gifted and talented art class.

The business side, Yeah, absolutely, So.

People don't realize that art as an item is something that appreciates and value, which means it gains value over time.

It's an investment.

It's an investment.

So when we hear I bought that artwork for one million, two years later, it's worth two million. A couple years later's worth eight million. I can't wait to get that to my chl. What Jay saying in that line, and we reference to him again, is that this is an investment that I purchased at a price which will gain value a year, eight years, a great gains even more. But wait till my children get older and can take that asset and now maybe they can use it for

It's not and it's something that I want to even tie it even closer to the culture because a lot of times people so when Jacobseha says a lot of things that goes over people's heads, right, So like when he says, I got Bosquiocht and a lobby on my spot, or when he says it ain't hard to tell I'm the new John Michelle. He talking about John Michelle boskiat right. So when you hear these names, it's like, especially John Michelle,

You know?

Like, I think that definitely goes over people.

But the crazy thing about it is that when he's referencing Bosquiyacht, people don't understand like that that's hip hop culture absolutely. Just so this dude is from Brooklyn. He's from Brooklyn. He is Haitian. That's why his name is Gene. That's why he has a French name right right, because he's Haitian.

And then last name he's.

Half Haitian half Puerto Rican. Actually yeah, but that's why. So you hear ge Michelle Bosciot, you're not thinking a black kid from Brooklyn, No, but that's the backstory on he's Haitian. So he starts in the eighties, not even that long ago, in the eighties as a graffiti.

Artist, right seventies and into the eighties.

Seventies and into the eighties as a graffiti artist, right dropped out of high school. Yep, unfortunately, So he made he made his name for himself in the Lower East He's from Brooklyn, but he made his name herself on the Lower east Side. Now, New York, anybody that's not familiar, New York was a different place in the eighties than it is now, absolutely completely different, right, the Lower East Side, Alphabet City was a different place than it is now.

Yeah, right, So he starts with that, and then he blows up and becomes the toast of New York and becomes the hottest artists in this I think he's on the cover up Time magazine or one of these publications where this is the new face of art, Like this kid is brilliant twenty two, twenty three at the time, Like he's a face of art now, like people are putting him in museums with Warhall now at twenty in his twenties.

Prodigy.

Yeah, absolutely, prodigy absolutely.

Unfortunately passed away from overdose twenty seven years old in nineteen eighty.

Eight, different time, eighties, New York City. But ain't even The interesting thing more so is that in twenty seventeen his painting sold for one hundred and ten million.

Now, the reason why that's interested is that that made him the highest well he's the number one US painter with the highest selling painting ever. He has the highest selling painting for a US painter ever for one hundred and ten million. So you got a kid from Brooklyn who is a graffiti artist as Core dropped out of high school, was living on the street. That is the most successful US painter and one of the most successful artists in world history. That's an interesting.

Story, legendary, just even a backstory like that. That's song that we're talking about, the Picasso Baby song. It inspired us so much that like during my summer program. Like our team was like, listen, we're gonna use this song and we're gonna go to the Museum of Mind Art and we're gonna teach them about just from these lyrics,

Like, that's how much it impacted us. So like that's legendary, No, it is.

And like you said, it's interesting because we talked about investments. That's an interesting investment that the average person doesn't think about art, investing in art, right. But so that's about when Chason that you said, I line one million and

And we can't mention art, especially in hip hop culture, without measuring us. So what he's doing with the no commissions campaign, like that's brilliant, right, a lot of times artists create these paintings and have to put them display.

Them in a gallery.

And what people don't realize is that they have to pay a commission to the gallery to display the art. And it's like they lose money just because they want to display it in this this setting. And what he's doing is like, listen, we're going to bake the setting and there's no commission, Like you get one hundred percent of what somebody paid for that, which is dope because he only not only does he again teach about art in a sense.

But he's also teaching education.

I'm like, listen, get one hundred percent of what you're working, Like, why pay this middleman because you're using this gallery?

Right.

The gallery may help prestiege, but the art is what makes people come up.

And it's similar to this, so it all ties into even like the record label right where it's like, say, if this is art, why do I need to go to Southerby's or one of these houses to place my art so they can get a huge commission and they could value it and they can say this is worth this much and have an option on it. It's like

And we got the two biggest art stories of last year, I would argue that as a number one, the bank Ski story.

Bankski is a legend. So Bankski is a street artist who goes all around the world and he just pops up and he'll just he'll paint these these these paintings on buildings, on sidewalks, on streets anywhere. But nobody ever knows, you know, who he is. See we would like to todde coach, he right doesn't do that. So one of the illest things ever was when ghost Face Killer first came out right with the Wu Tang because nobody saw.

Us face that video.

We didn't know, but like the first four videos, uh yeah, I think yeah.

So like the protecting act in the method man video, and that's.

Why he was ghost face because nobody saw him. It was like a whole big thing like who is he?

Right? And it was the mistique when nobody knows who you are, you have a certain mistique to you. So, like he said, lady said, when he my face got revealed, the game got real. So for the first for the first four videos.

Nobody knew who he what he looked like because he had like a visor like on like he it was it was interesting.

So you have a certain mistique to you when people don't know who you are, they just hear about your name.

And that's true, like and that is the original form of graffiti. Like in the seventies and ages, especially in New York City, it was like we put up this art. You'll know us by our tags. You don't even have to know who we are. You just know like, oh, like, oh that's the new guy. He's hot. Look at this that he did. Look at the train that he just he that piece that he put on that train, or look at that building over there that he tagged. And it was like that's what you became known for. You're

And that's what I said. I said this last time, and I fully believe that I said this on the first episode. You can't stop energy, right, So KRAFFII, I don't know if graffiti started with hip hop, but I'm just gonna say it did because I think it did.

That's part of hip hop.

So that started in the South Bronx. But people spray painting trains, spray painting walls, spray and like you said, it was frowned upon, it was looked at like it was defacing the city. They had a whole campaign to stomp it out. I go to Germany, Thailand, Asia, spray painting everywhere, murals, murals. Yeah, and now Bankski is pretty much a spray painter.

Is currently the most famous artist in the world, the most notorious artist in the world.

He's doing what.

Kids, just regular sixteen fifteen year old kids was doing in nineteen eighty six, and they weren't looked at as artists. They were just regular kids with a spray can.

They were looked as delinquents, misfits.

Yeah, so that's how it all. It's interesting. But Bankski, we gotta talk about the stunt that he pulled.

Yeah, So the two biggest, I would argue, the two biggest stories in art were the Bankski shredded painting. Like this was like a miraculous stunt. So he puts a painting up for auction, but he's no. He actually had a painting that he never wanted to be auction and he put it in this case.

That was very thick, and people were like, this feels pretty funny.

He's very heavy, and it went up for auction, right, that was the one thing he said he did not want to happen with the pay of bogs and so they bidden on it, bidden on it.

And remember one point four million. One point four.

Million, And as soon as that gavel went down and they were trying to take the painting off the wall, the painting starts, it starts to shred. So he has a shredder. He has a shred up built in the frame of the paint.

As soon as the person paid one point four million and money got transferred, they're about to give her or him the painting as they're giving as they're trying to take it off the wall, it starts to shred like a paper shred. They were actually the interesting thing about so he must have had somebody on the inside.

Mission impossibly some theories that like maybe he was in that room, or they pressed the butt somebody right after it was done. The interesting thing about it is.

The interesting thing about it is that they were able to stop it because it only shredded halfway. So it's halfway shredded. It's sold for one point four million. Now I know where you're going. It's worth two million. It's actually worth more before than before. That's how art is so crazy, because now that's our because that's our Yeah, like.

About half shredded Banksky painting, the whole story behind it. It won up six hundred thousand the moment plus the painting added to the value of it.

Unbelieving.

I mean, that's the second story. Is jay Z and Beyonce right them shooting that apeshient video and the Louver what that did? They said, record numbers for attendants at the Louver, and the museum itself said thank you to them for bringing attention to that.

So the Louver is the most popular famous art museum in the world in Paris. The Pyramid building. Yeah, the glass pyramid.

Glass pyramid.

Right, So the tendance where Mona Lisa is right, So like the part in the video where they're standing in front of it. I remember he said, like I'm sleeping. That's in the mount of day Mona Lisa. Like we are art, Like that's Mona Lisa, but we're the focus here.

So they do it. They threw a video in the in.

The loop, Yeah, and tendance goes up by twenty five percent immediately after. You can't discount that, like just because they shot like that doesn't even happen, Like how many videos have even been shot in there, Like there's certain pinions they don't even allow you to even film in there, and they got the rights to do the entire video in there. Have to close it down and look what it does for the museum.

Culture culture. Yeah, man, all right, all right, okay, so final words.

So you man, you.

Yeah, final word man. Like I said, I just think that a lot of times we have to fully understand that what we're doing has value. Right, We don't want to talk over anybody's head. We want to talk directly to the people. And it's important to realize and that's why we wanted to just talk about that art situation is that no matter which you're doing, is valuable, right, So it's important to a understand your worth. Never let

That in the sense like we're using the culture to teach.

Culture that but I'm just saying when I say we'm talking about everybody, our culture is world culture absolutely. I think somebody said that, like the number one export of America is culture, right, Like we affect so many different places based on the things we.

Do exactly exactly. So know your worth, that's my final word.

Know your worth absolutely.

All right, guys, thank you for rocking with us. We see y'all next week.

You just realized your business needed to hire someone yesterday. How can you find amazing candidates fast? Easy? Just use indeed, stop struggling to get your job posts seen on other job sites. With Indeed sponsored jobs, your post jumps to the top of the page for your relevant candidates, so you can reach the people you want faster. According to Indeed data, sponsored jobs posted directly on Indeed have forty five percent more applications than non sponsored jobs. Don't wait