EYL #68 The Originators

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All right, guys, welcome back to eyl stated the union episode like that, Yeah, we had to spice it up a little bit once again. If you're a loyal listening to earn your lisia. You know how we started the show. It was just me and Troy, no guests, and you know, people always asked for that, and we did another episode which just us two months ago. I got a good reaction. So this is something that we're going to try to do at least once a month more.

Well, there's a lot going on and like people want to know our opinion. They want us to break down these things.

So yeah, so it's a couple of different models that we have, Like for the shows. Like some some shows is we bring guests on and they break down their energry like a how to like the mobile homes or vending machines.

Like a house I just want to say machine.

Then you got stories entertainment ones like Nick Storm, Kenny Burns where they like tell their their journeys and business. And then you have some some shows. But just us, we we're like commentators. It's like it's like commentators of what's going on, trending topics, business case studies, things of that nature, and we, you know, we give our take on and we can't just break it down and laming terms for everybody to understand.

That's that seems to be like the formula for us in the beginning, right, it was like, Yo, get these things, these ideas from what's happening in the world and break it down to our audience.

Man. So we're going to do that for all to day.

Yeah, that's what we're gonna do. So before we start Philadelphia got about ten days left. It's crazy. I ain't gonna sit here a lot of the live podcast. We got Wallowed two six seven, Big Business near Mayah Davis and just added just added special alert.

Yeah, yes, yes, the legend.

Himself, John Henry, John Henry, Venture Capitalist, all star media guru everything. If you checked out John Henry's episode, you know, like this, this dude is really just special genius.

He's special man, twenty seven years old.

He hit me up. He hit me up like y'all heard y'all coming to Philly. And you know he does a lot of work in Pennsylvania.

He's got some real estate stuff on.

So he's like, y'all would love to be a part, and I'm like, let's do it. So John Henry will be in the building. And then the live podcast is also catered, yeah, open bar, and it's a private networking event too, So that's dope too because it's like that networking is just powerful, Like look how many people that's on the podcast, and then Wall Street Trapper is going to be there, and the mortgage a bunch of credit solutions to Beam and business all of us. It's gonna be crazy.

You know, when you was doing the live with Neomia Davis, he was like, yo, people, are talking about the cost, and he was like, Yo, what is it going to cost you? If you're not in that room? Think about that. When he said that, I was like, damn, that's powerful.

Now it's gonna be a whole vibework. Then the next day, the fifteenth of March, we have the workshop with a Tea Blair and I used to show that everybody's asked for. I used to show the real estate. Alex good Energy is going to talk about trucking industry and because if Edwards is going to be talking about vending machines and everything you need to know about everybody.

Everybody's been calling about that episode.

Yeah, episode is on fire. So yeah man, all of the information is on our website e y L experience dot com. Eyl experience dot com. Go check it out. And yeah, man, we love to see everybody turned out. So Philadelphia, man, we can't wait to see the whole team. Won't be there too, y'all for sure. So we're gonna jump right into it. The first topic that we're going to talk about is the coronavirus.

Serious one man.

Yeah, first and foremost, rest in peace to anybody. I think it's sixty four people. So far that have passed away from the coronavirus and anyone that's been effected get well soon. Yeah, because we're gonna talk about the business side, but even obviously bigger than business is health health.

Yeah, and you want to you know.

We can't take that light like it's a serious virus.

Yeah, I think people get confused with that.

They're like, I think people just unaware of what it is, right, So it's like they just hear it on the news and then it's completely oblivious to how it works and what it does to the body.

So hopefully we're going to shed some light on.

That, yeah, for sure. So, yes, the coronavirus started in Asia and China.

I believe Muhan Muhan China.

Yeah, a few months back, and it's just spread all over the world. Now, sixty four cases in America last time I checked eighty five thousand cases across the world world.

Why so they're saying that it's a global crisis right now, So we have epidemics and pandemics, right. Epidemic meaning that it is something that is taking over a localized area, right, and then it may spread to a few communities, and then we turned in to a pandemic. It's like worldwide where it goes from one continent to the next. So they're saying not yet according to the CDC, not a pandemic, but a global crisis.

Yeah, it's it's serious. And I was just traveling a few different countries and went to Toronto and connected fight in Toronto, and seriously, they gotta check, like what countries you've been to and have you been to Asia? And it's a serious situation. So it's affecting the world's economy because, at least on the podcast before, the world is flat now, so what happens on the other side of the globe

I mean huge supplier.

Yeah, huge applier to the whole world, a lot of different things. So it's just taking a hit. It's taking a hit on some major corporations. Nike seventeen billion dollars has been shaved off of their valuation last week. Yeah, two hundred billion from all of the big tech companies.

Apple, Apple had a huge loss. They have a city in China, I want to pronounce it right, jang jiang Zo, China. It's actually known as the iPhone capital of the world. Like half of the iPhones.

In the world come from there.

They actually had to shut down their factory three hundred and fifty thousand employees.

Yep. That's like more than a city.

No, it's serious, and it's like a lot of manufacturing goods come out of China. So even like on a local level, like I know people that's personally affected by it, like small business owners that's getting merchandise from China.

We have that conversation every night and they can't get it.

I just spoke to Alex get an energy shot out to Alex and he was telling me how the trucking industry is affected by it right now.

Yep.

A lot of goods that are being trucked that come in from China haven't come in or it can't come in right now, so the truck is a little slow right now. So it's affecting everybody. It's serious.

I mean Chinese economy in itself, right we just finished having a trade war with them, and right after the trade war and now we have the coronavirus and it's like, you know, they're taking a huge hit huge hit manufacturing and even in the prescription drug that like that was something I had to find out myself, Like a lot of the ingredients that go into our prescription drugs come from China, so like this this sworages on that man.

Yeah, So we'll start off with the stock market. So this is something that is a really big thing because stocks are down twelve percent one week, which is the largest pullback in the stock market for one week since

I've seen I've seen the comments like yeah, what should we do? What should we do? It's like, yo, listen man, and when we see red, we don't pin it. Yeah, we don't penning.

I think I think it's import to understand that before we even talk about like the effect on the stock market, you have to understand how the stock market works. Like I don't think people fully understand how stock market works. So just general economy period. Like, So there's what's called bulls and bear markets.

Right.

The bull market is when the stock market is going up. The bear markets when the stock market is going down. The reason why it's called the bull because they have horns and they throw their prey in the air when they're like wrestling with them.

They're aggressive in the sense well not even.

That, but they throw it up like if you try to wrestle the bull, like they'll tors you up, whereas a bear wrestles you down. So that's why the bull goes up and the bear goes down. A little tibbot for anybody that was interested. So the average bull market is seven years, right, the average bear market is fourteen months. So we've been in a bull market since the end of two thousand and eight, so we're we're in almost

I mean, it's like the law of nurtier, right, what goes up eventually must come down.

Yeah. So and then it is market corrections, right, So a market correction is a pullback in the market, usually about ten percent. So this is what will be a market correction, right, So what happens is that market corrections happen, Like we had a market correction in twenty eighteen, but we haven't had a recession, So people throw that term around a lot as well. Recession. How they define recessions is two consecutive quarters of negative GDP growth, So like people.

Who don't know understand that quarters. Obviously, the being four in a year first, second, and third, fourth.

Right, so that's like six months six months of negative d GDP growth will result in a recession. Right, So all right, how does this all play out for the stock market? Right? Right now, the stock market is going down. The stock market is not going to go to zero. It's not going to happen. So it's like if, in my opinion, like you, it's hard to time the market. These people are saying like, Okay, this is a good

We've learned that lessons than that.

You gotta learned from crypto. Also people saying that you should sell and make a profit, right, So now that you have to be careful with as well, because it's like, all right, at what point do you do you decide that it's a good point to sell, because if you if you've brought a stock at one hundred dollars, right and it's now two hundred and it pulled and it pulled back from three hundred, then you might say, Okay, I double my money, I can sell. That might not

Yeah, So I mean it's important to understand that because a lot of times people look at the economy to look at the stocks and they're like, all right, I'm gonna jump in now, or like I'm not invested in anything because everything must be down. That's not necessarily true as well, Right, we got there are stocks that are gaining in this economy even with the coronavirus.

Yeah, we want to talk about that as well. But so once again, it's important to understand history and how history plays apart. Right, So if you look at like past viruses, this isn't the first virus.

They said, and this is a good study too. I think it was in a business society.

There was like it seems like every election year over the past like twenty years, there's always a virus, right. So in two thousand and four there was the stars remember that, like the acute respiratory syndrome.

Then after that we had swine flu, and then after that we had the ebolavirus. Then after that we had the bola virus.

Again, troller virus that was in Haiti effected.

Right right, right right, So like right now, obviously we have a reduction.

Yeah, now we have the coronavirus. So it's like we've seen these things before.

Yeah, so, but but even digging it down even deeper than that. So once again, if you study history, you can kind of predict what's going to happen in the future. Right, So there's a six month pattern with viruses. I don't know why six months, but that's the pattern. In twenty ten, the choler virus I think the Caribbean I'm pretty sure I got said. I hope I'm pronouncing that correctly, but it was in Haiti. So the stock market was down two percent based off of that outbreak. Six months later,

So we about two months in right now.

Yeah, So I say that to say at some point there will be a recovery, when I mean, it's kind of we just you have to use educated guesses, right. But the thing that like I see people on Instagram like, well, this virus is different, this is a It's really not.

It's very similar to the SARS virus, where it's a respiratory virus where if you call for sneeze and your cells get in the air and goes to somebody, it's like happening a fever.

I love history, Like history used to be my favorite subject in school because, like I said, that's the best way to kind of know what's going to happen in the future. Even going back to the plague like that killed millions, millions millions and ruined the world the economy. It's still bounced back like viruses, plagues, diseases. It's been going back since the beginning of time, right, and it's

Ever we live in.

That that's the environment we live in, right, everything is immediate, like what's happening now, that's all.

We can see.

H And also we have a situation where we feel like everything that's happening to us is more important. So it's like, all right, this is happening now. It affected me right now, so this is different. No, it's really not different. It's just the other things might not have affected you because you might have been too young or you might not have been aware. But people, for some reason,

And I mean we have more tools to see it now, right, Like there's no escaping it, right, Like I know some people watch the news, a lot of people watch social media. We can see this. It's on it's on our feeds, it's in our timelines. We're seen it, not in the set, not oversaturated, but it's over publicized. It's like we can't escape it. So it feels like this is the worst thing that has ever happened.

To this world.

Yeah, and so it's like okay, so it's like what do you do? Right, So there's different there's different types of investments that people have absolutely, So like we'll go by like different ones. Retirement accounts. That's a big one and we talked about that before. Like a lot of people most people have the majority of their money saved and investments simil retirement accounts like a four one k ira. So that's going to be affected by the stock market.

You're not holding onto that like watch every.

Day taking money out you start panicking, and now you lost money at that point in time, not only you have to pay taxes and you lost money, and it's a whole thing. So retirement accounts, it probably would make sense just to kind of wait it out.

Probably, I mean, if it's for your retirement, most people should be waiting.

Unless you plan on retiring like with next two three years. Then you say, okay, I might need to be a little bit more conservative because I can't afford to take a loss. But it's like just wait it out, like

In those valuable lessons, right, like the average investor, especially like in the beginning, and I could speak for myself, it was like the first time in two thousand and seven, like I had just found out like what stocks are, and I was studying it, and when the market crashed, that's the first thing I did. I wasn't educated, right, So like the educated investor, yeah, you gonna you're gonna

Yeah, and it's important too because it's like now you have to realize that emotions are like the biggest thing when it comes into the stock market. So no matter how much education that a person's gets, they still make decisions based off of emotions nine times out of ten. So there's a reason why like in the stocks you always here by low so high, but it is a reason why most people by high and so low, because what happens is that this is a perfect example of this.

So you're literally are telling my story. It's crazy. It was like that is the exact emotion.

I don't understand why people just can't learn from history. Like that's why I said, like the history is the best teacher. It's not the first time this just happened. It's not the first time the market corrected, it's not the first virus, it's not the first anything. But every time it happens, people make the same mistakes that people in the past.

Me you know what, I think one of the main things was it was like not having a lot of capital.

I didn't have a lot of capitals. With the little that I invested, it was like, damn, am I willing to lose it all? So at that time it was like, Nah, I wasn't really to lose it all. I'm not thinking long term. I'm thinking, like, yo, I just put this money in just losing money.

Let me take the.

Whatever I can get out, not knowing you know what I mean. So you just told my whole story, man.

Yeah, pretty much. But you said, but like you said earlier, there are some stocks plays that we're not giving any stock advice. Yeah. Yeah, once again, nobody knows what it's going to happen, but there's some stocks that people are speculating might be able to benefit from this situation.

Yeah.

So, like as conditions worsen, right, if they will, like you said, if there were only two months into this this virus, right, then conditions are probably going to get worse. And as expressed about the world, and people are saying, like the CDC is saying, like, yo, America, you should be ready, prepare now because it could get here right there.

I think twelve sixty twelve confirmed cases.

I think sixty four people got tested, so you think about that, right, And it was a great article. It was like, if people are staying home from work, well, what type of stock.

Would you look at to alleviate that?

Right, So look at a stock like Zoom or a company like Zoom who does telecommunications through the home system. Now people actually don't have to leave their home. They're safe there, they can communicate more people are going to start doing that. That work from home thing is going to become huge in the next couple of months. So that's like something that to look into. It's like, all right, well we can invest in that because we know if this worsens, that's going to help that uh, that stock.

Particularly biotech stocks. Also biotech stocks are down, but speculation biotech stocks might increase. Dear, I believe that's I'm per saying companies correctly. M O D E r n A is a company that is leading towards a vaccine for the virus.

There is always the best part.

So the stock was actually up last week and then it kind of came down a little bit. But yeah, if you if you do get research on them, they're actually yeah, they're they're leading towards I think they might even have a vaccine already, but they're like, very soon they're putting out a vaccine for it.

So if we had a conversation other night with with MG, it was just like, Yo, this helps my industry, you know what I mean bigger than outside of stocks. Were just like, Yo, mortgage races are gonna go down, right because people are not buying homes at the same rate. They feel like they're gonna hold on to their money. So obviously the reaction is mortga race, morgas race goes down. So that's another industry where it's like, all right, well, somebody's gonna benefit from this outbreak.

Yeah, you can also make money shortened stocks as well, which is highly risky. So we're not telling anybody to do that. But but but if you educate yourself and you understand how the short stocks, I mean, it's common sense to say, okay, what stocks probably would be down right in this situation. So consumers, consumer spending stocks are down, I mean all stocks down. But that's gonna be something that we talked about.

You mentioned night.

We mentioned Apple, Yeah, yeah, ex Apple, Travel absolutely travel airlines, and they're changing their projections too, because it's like, Yo, we projected to do this with twenty twenty.

They're looking at that first quarter like, yeah, we're not gonna make it.

So everybody has to adjust their figures for the year based on the first two months of the year.

Yup, airlines, hotels, hospitality.

Yeah, entertainment industry. I know, they were shooting mission impossible in Italy. They were like, yo, we got the virus got there. So they're like, yo, we got to shut down production. Like people don't like you're not thinking of that, right, Like China specifically, right the number two entertainment capital of the world, really, and when it comes to movies and movie going, they've lost huge nobody's going outside.

They can't make money off the movies anymore.

Right, they actually were This year was gonna be the first year they were projected to pass the United States as far as gross income from the entertainment industry.

There's no way they're gonna make it now. They just lost two months of the year, you know what I'm saying.

So, like when you think about the world that's being flat and thinking about how one thing can affect the entire world, these are the instants were talking about.

Yeah, some industries that might potentially once again it's all about educated guests, right, Yeah, that could potentially benefit once again kind of common sense biotech. Biotech what it stands for is biology technology. So yeah, medical fields probably will benefit.

That makes a lot of sense.

You're going to have to go to doctor, you have to get prescription, medication and virus, all of that stuff. So they probably see a spike, and especially, like I said, who comes out with the actual cure for this thing, because it's gonna come out eventually, have to Yeah, So yeah, I mean it's just like I said, but I understand when you're shortening the stock We talked about that. We're gonna have an episode on shortened stocks too, but it's

The key thing about having and knowing that the recession is coming is that just prepare for it, right, Like, let's let's get all our eggs in a barrel and it's like, yo, listen, we're waiting.

For it, right.

Like I had a conversation of a few people, colleagues specifically, like, yo, you think it's a good time to refinance. I'm like, well, if you think of recessions coming, right, you want to have some money just in the event that morgas rates go down, housing market changes, you could get some property.

Yeah, I would do it. Be prepared.

You don't want to have the recession coming and you don't now your value of your home just went down.

Now you can't refinance, you know what I'm saying. So just be prepared.

Yeah, be prepared, don't have fear, use your brain and keep it always good to do that. Keep your composion, man, keep your composion, all right. So in the next segment, we're going to go over our favorite company that we talk about all the time. Amazon. They are changing the game, so I'm not going to what they got going on next, all right. So in this segment, we're going to talk about Amazon.

Favorite one of our favorite topics.

At least once a month, bring up Amazon and Jeff Bezos.

They take a Yeah.

So the latest, the latest thing that they've done is an Amazon ghost store and Seattle, Washington, so they have they have Amazon ghost stores and like other places thinking the UK, stuff like that, but they're more convenience stores. This is the first full fledged grocery store fresh food everything. They have fish, produce, fresh groceries, milk, vegetables, anything that you will find in the grocery store.

It's a regular supermarket. You got snacks, everything.

So what makes this different from other grocery stores is that they don't have any cashiers.

Zero.

It's cashierless. So usually everybody has gone to a grocery store. You buy your groceries and you go and you get cashed out even if you don't even if a lot of grocery stores now don't have they have cash here, then they have to cash self checkout, Yeah, self checkout, but you still gotta go. You scan the items and then it's like a self checkout thing. But this is different.

Like I looked at the video. It's like they have like a hundred different.

Like scanners in the ceiling right, so as you walk through the store and it tracks you. Right, So like people can literally just walk in, like if I wanted to get some bread, Like I can literally just walk in and just put it in my bag and the scanner would detect it.

You know what I'm saying. It's different. It's crazy.

Now there's a whole vibe and yeah, so like you take the bread off, you put it in your bag, and it says, okay, two dollars gets added. Now if you change your mind, you put it back on, then it takes the two dollars.

Everything is getting scanned.

So yeah, and then so everything is already scanned in the app and you just put what you want in your bag and then you just leave.

Yeah, they got a sign.

It's because it just walk out, Like as you walk in the store, it's like, yo, this is like the just walk out store. So literally you back up the stuff and you walk out and when you get outside you get your receipt.

It's crazy.

And they said that this this though I just opened the Seattle is gonna be like the test run Yeah for this model moving forward.

Yeah, and then you know what it was like, you know, people looking at that, like what happens if I pick up an apple or something? It was like if I pick up an apple, Well, they they've changed.

The way that they do it. Now they don't charge for the weight. They just charged per items.

So every apple is not saying right where sometimes you hit like a watermelon. It's like yo, depending on how much it waste, that's how much you pay. Not everything the same price.

And they've actually it's about a YouTubers because they one guy tried to trick the system already. Yeah, there's a lot of that going on, Like when he changed his jacket and he got away with some items, but they scanned him for Alvocado that he left. And there's been some there's been some some some chinks in the armor where like people have been able to actually because that's the thing. It's like people like if you.

Rob them, talk about just walk out, like walking out.

Yeah, so I mean, but but it's it's not as easy as you think.

I said, you know what, speaking of I actually saw somebody had like this glitch where they opened the freezer because there's a lot of frozen goods in it. So they opened the freezer and if you open the freeze at a certain angle, the skinner can't see it. So it's like where like now they're actually going to put the technology on the freezers, so like you, everything is scanned into your item.

I'm sure they'll be, you know, making changes as they go along with it. But the thing that the thing that's really interesting is that so now a lot of labor unions are complaining and they're taking all the job, yeah saying, taking the job. So I didn't even know that there was that many cashiers in America. So there's three point five million cashiers in America who average around

So, like, I mean, that's that is crazy, right, But the onlyest part is that you know, the company that hires the most people in the United States, Amazon, So it's like it combats itself, like, yeah, we're automating some things, but we're also creating jobs at a different rate.

I think. Also, it's just it's a harsh reality that we live in, but people have to be able to adapt to what's going on right now, right And it's like I remember, like in New York. If you're from New York, you know that there's no tolls exactly, but those were jobs that people had exactly. You drive and people were standing in the toe booth and they break change and that was their job.

It might curse you out, that was their job in tolls.

But now it's like all of those jobs were lost because they realized it's a lot more efficient for cameras to take pictures and easy paths and stuff like that. That there's no need to a it. It actually slows up traffic, right yep. And then b you spending a lot of money where you put a camera in place, you don't have to pay the camera, it's already done.

And it's double at sword because if you think about it, right, Amazon, what they're doing with the Gold grocery store is like they're creating lower prices because they're not paying employees at the same rate, Like they have workers in the store, but they don't have twenty five cashiers. Well now, now, if I don't have twenty five cashiers, I can lower the price remount.

I can lower the price for these goods. Right. So now if I have to compete with a grocery store, they can't do that.

Well, that's their scaling. I've been Amazon's model from day one is to have lower prices that the competition can't really be and more efficient way of actually doing business. So this fits right in. The NHS brought whole Foods, so.

They're interesting and those products in the store.

Yeah, and so the interesting thing about Amazon is that like we're talking about like the death of retail and is bricking martyr dead? And a lot of people have contributed Amazon to like speeding up the process of like killing brick and martar businesses because everybody's shopping online. But now this is a play to build out their brick and martar business. So Amazon, in my opinion, they're really

Eight hundred billion dollar industry.

It's something that you can't get away from it.

Everybody has to do it.

So now with the Amazon. Now, the brilliant thing about Amazon's that they already have the infrastructure in place to ship. So they have these these grocery stores in place, but can also be holding units storage units that they ship out groceries. So now instead of actually going to the store, you can order the groceries and now have it delivered to you. So now they're going to get it to the point where it's like, Okay.

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You get food, which everybody has to have food. You either you want the in person experience we have in person. If not, we already have it set up. It's not actually even costing no more money because they already have these groceries. I'm just saying, hypothetically speaking, Let's say this really expands and they have these grocery stores all over

And we spoke about that too when we were talking about brick and mortar.

It was like, look, there's a reason why Amazon's buying up old moles, right, those are the epicenters of cities. They have all the infrastructure there, they have plumbing already there. If nobody is going into males and males. Eventually the stores you know, can't pay the rants and leases, they'll eventually come in by that.

And now they're at the epicenter of every city. So now you have same day shipping.

Right now, I have the epicenter that becomes a warehouse order Amazon same day it gets to you right Like, you can't get more efficient.

Than that, Nah, you really can't. And that's even the play. So Amazon and Walmart is been going back.

On Yeah, they back they're competing, and.

Walmart is actually making an insurgence and a lot of people saying that they're becoming a threat to Amazon. One thing that Walmart has over Amazon is that they have so many locations. So now they've they've started the same day shipping and all of that, and that's what that's exactly their play is that they don't have to like Amazon is using warehouses where Walmart all of this stuff

And they got one of the most important things down path, the experience, right, Like if you've have a shot that Walmart.

No disrespect to anybody Walmart, but it's like you waiting in line, especially if you got kids. I mean, it's an ordeal like going through Walmart with kids and then you got to wait in these long lines. And now it's like, yo, I can go to the store. Like it won't be a thing for parents to say, like I'm going to the supermarket because we don't have to wait in line, like I'm getting this, I'm getting this, and we're out of here, you know.

What I'm saying. Like that experience just changed everything for everybody.

It's a game changer. And then also also what's even more interesting to me at least, it is like people, you always gotta look deeper than what's on the surface, like this we're talking about groceries. But I mean, who's to say this is an a scalable model for every form of retail?

Right?

You can just potentially walk into a sneakers store at some point and just take sneakers off the rack and leave.

Yeah, I don't see why it can't be.

I mean, obviously those companies have to invest the type of technology and have the type of capital to do it right. Because it takes a lot to put two hundred cameras in your ceiling.

How much time much does it cost to have millions of employees?

I'm sorry, they got a lot of loss too from people just stealing stuff out of the store.

Well they get they getting lost and people stealing with employees there.

Yeah, that's true. That's true.

So it's like going forward, if like I said, this is this is this is a test run to see but if this, if this works out, which I actually think it's.

A test, I feel like they already know what they're gonna do, you.

Know what I'm saying. Test as far as if it's gonna work, cause you never know if it's gonna work or not. But I feel like if this works, which I think it probably will work, I don't see why other every area of retail won't move towards that. Moving forward, It's like it's a lot easier even from the customer standpoint, Like I don't want to wait online to bring up

Yeah, it changes it. So like now you get foot traffic going back into stores.

I think it helps, right because now you have people actually going in where that's a problem right now. People don't go in everybody's shops onlinehere. If we know it was that easy, yeah, we might think twice, like all right, well I'm just going to grab that and I'm coming back home.

It's easy.

It might be the resurgence of brick and mortar in a sense. Yeah, So and then and then we can't forget about the whole fools play, and it's either whole fool's actually been struggling.

Well, that's true. That's true.

So now it's like it's interesting because Amazon buys Whole Foods, which is a grocery store, but then they start their own grocery store called Amazon Go.

Yeah, because I mean, well, and that's the part, right, because a lot of people don't the people who don't shop at Whole Foods.

The number one thing is the pricing, right.

It's not cheap to eat healthy, it just isn't, right, So like if you're shopping in.

There, you're going at a different price point.

Whereas now if I go to Amazon, the Amazon Grocery gross store, I could have the whole food products that are just kind of pick rate because they don't have the employees. Right, if we're not paying this way, we can help customers this way.

No, but yeah, but so you still have Whole Foods though, So what are you gonna do with Whole Foods?

We got to see that'd be interesting.

Like I mean, like I understand that that perspective, but it's interesting to buy a grocery You would think they would just expand Whole Foods and just make a cash layer list. Hopeful they already have, Like you brought a grocery store what's the point of having a different grocery store and which is purchased across.

I mean when they bought it, they were just swallowing up the competition, like, how we're.

Going to compete potentially that's a play because we've seen them do that before. Fun of time we talked about the diaper absolutely play and that was like I think that was episode.

Four earlier earlier.

Yeah, they just swallowed up the competition that I was like, all right, well we want to compeople won't mind, We're gonna take this. And now they're like, all right, well we can make this better. But like, yeah, you still have that asset that you bought.

What do you do with it?

Yeah, And if anybody's not familiar with the diaper thing, that's what I'll give like a brief synopsis of it. They were in, uh, this diaper company. Amazon wanted to get a diaper market, and the diaper company that was I think it was like diapers dot com cops dot com. So what Amazon did was they ended up lowering the price of their diapers much lower than diapers dot Com to the point where they was losing money. They was losing like one hundred million dollars a month with something

So, like I said, test run, but I think this is this is something that's gonna stick.

Also, so stocks, we talked about stocks on the last the last thing, so it's all it's all interchangeable, right, So this will be interesting to see how Amazon stock will appreciate or depreciate based off of the success of Amazon Go.

We need to depreciate a little bit. I want to get we need something.

Yeah, it's going It's gonna be interesting to see how this how this goes moving forward, because like I said, I mean Seattle is a is a tech city. It's a tech city too. Though Seattle is like one of those cities like Austin, Texas, where it's you know, a lot of people. I don't you got to see how this works in Midwest and down South and things like that.

I would be interested to see what I mean.

I feel like that would work great in like major metropolitan areas like New York City.

That would be great because people moving so fast paced.

It's like we can get it and go, you know, like big cities like that I think would be great, and they'll be I'm sure they'll be extremely strategic about where they place these stores.

And there's still jobs, like people still work in them, of course. Yeah, so you can explain that people that still work.

Yeah, so like there's no cashiers, but there's still people that work inside the store. So like if you've ever been to a grocery store and like I know, I go in there a lot of times, I'm lost.

I have no idea where anything is.

So there's people to direct you, to show you where things are at to help you with that customer service experience. Whereas like if I go to a supermarket right now, like I'm in the aisle and it'll be like ten minutes before somebody comes, like, yo, you need help.

No, it's the worst.

It's like I usually got to go to the deli, like, yo, bro, can you tell me where the orange mam a lot is?

Because I have no idea, you know what I'm saying.

So like now they have the people in the aisles that can actually help you with that experience to get you in and out of that supermarket faster.

And that's something that Apple. Apple mastered that. Because you think about it, that's what most like, I hate that, whether it's retail stores, grocery stores, whenever I can never get help. I go in this store and there's never anybody to help me, but there's always a million cashiers. Like if you go to home depot, there's like twenty seven cash here. You got line and it's like two

If you have a question that like, you'll go to customer service. That's about aisle thirty.

No, it takes like if I have a CBS, I gotta wait ten minutes for somebody to direct me the way I'm going. So Apple's thing is like as soon as you walk into Apple, there's like thirty seven people.

There's more employees.

Yeah, it's crazy, and they greet you as soon as you walk in. So that might be a play too, where it's like, okay, we'll shift it. Instead of having the money that we're going to pay the cashiers, we'll just have more people in the aisles to help customer service type thing. And that actually is a way better customer experience for me. I'd rather have more people in the aisles than.

I've been like, no joke, ten to fifteen minutes looking for something like no clue. I mean, it's a terrible feeling and we waste time doing it.

Yeah, especially if you get a lot of groceries too, it's like it's much easier because if you go on hundred items, you gotta wait for like thirty minutes for them to ring it up.

That's the words like, Yeah, you get there and it's like yo, it's like the ten items the less line, and it'll be like fifty people in that.

I'm like, everybody's trying to get like thirty seven items and ten items are less line.

Yeah, they put their kid with one basket and you got one basket with ten It's like yo, stop lady, I know y'all on the same family.

It's a whole nonsense. People fight, people fighting, grocery stores for over and over the lines, cutting lines.

That's a fact.

No, that's a whole vibe. So now this is actually interesting.

And as parents too, man like, we ain't got to deal with the house with Like, Yo, can I get that?

Can I get that? Can I get that?

When you know they put all the candy in the front, you're stuck and you can't move, and like, yo, you know your kids about to start crying if they don't get this candy. Everybody look, it's like yo, man, like, we got to really put the Sniggers' bars right here.

Now this is the way I can see it. I can see this is the way. This is. This is crazy.

Man.

You walk in the store, get what you want and leave. That's it. That's dope. That's dope. Like that, that's I think that's gonna be the future. I'm gonna be honest with you. In everything, grocery stores, everything, like you just walk into the gas station, get the sniggers bar and leave, Like imagine that, Like that's gonna be the future. Like it's you just get a gatorade and leave.

That's gonna be fair.

I mean the AI because then you don't have people like yo, if they're watching that, what else are they.

When they're already watching you? I mean you know that, so watching that's a fact. Jeff Bezos is watching watching that's a fact. So well, we'll be tracking this h see how it goes. Like I said, I think it's something that's extremely interesting. And once again Amazon's on the hated it, love it, hate them and love them. You got to give them respect for being on the cutting edge of everything world.

Yeah, I would say technology, but it's more than it's everything the world.

Man. They really push the envelopes and sometimes they make mistakes. But that's what life is about, that's what business is about. It's just being trailblazers and taking risks so.

They can afford it. Yeah, they certainly could afford it.

All right. Well, there it goes that. We'll see what happens. All right. So in this last segment, we're going to go to throwback everybody's favorite segment. If you're a loyal listener, yes, all of the Day one supporters know what I'm about to refer to. If you're new to the program, then

That time again.

Do it again for sure, boys and girls, ladies and gentlemen without further ado, storytime dropping like that. I'm just looking at you, all right. So for today's story is teachable moment. Yeah, it's actually.

A little different for us.

It's pretty sad most of the story times to like upbeat, but this is a story and it's definitely a teachable moment. Absolutely, it's a story to learn from. But it's not really the most I.

Think most of our stories, there's always like a triumph and it's like, oh wow, I can't believe they came from those odds to do this, or they use their intelligence their network to do that.

And this one's a little different.

Yeah, but it's still a story that needs to be as we can learn from the mistakes. Yes, So Wallace Wally Amos Junior, you know it's crazy. So most people if you heard of the cookies famous Amos, that's that's him. It's probably known for that, probably know him for that. But I didn't actually know. I was doing some research, so I know he did that. But what I didn't know is that in nineteen sixty two he became the

Yeah yeah, and he had Simon and yeah.

Yeah, that was an old town. Yeah, that's pretty extremely big think about like Diana Ross, Marvin Gay and Sam Cook.

Yeah, that's crazy, Like who does that? Who finds that type of talent?

Yeah? So, but he's he was raised in Tallahassee, Florida. Shout out to Tallahassee. Tally Hoe is what they call it. Fam you Tallahassee Community College, Florida State University. Yep, it's a college town. Shout out to Tallahassee. So he's from Tallahassee. He's born in nineteen thirty six.

That was like what he's still living, still living, man, still living, still going, shout him.

You know, come from a Southern background and his aunt apparently made homemade.

Cookies Atla Yeah.

Yeah, that was famous in the neighborhood and everybody loved it. You know, just a traditional type of just in the in the kitchen, just making cookies.

Making chocolate chip cookies.

That never really left him even though he went to you know, pursue a career in you know, managing artists and things of that nature. Eventually went to Hollywood, but he always had his down South roots of cookie.

Yeah.

That actually was what he would give to some of his artists. He would present them with cookies. Like so, like some of the artists were coming and he had like a snack before there was riders and you had to have all those things, like, he would bring the cookies to them.

Yeah, and he actually went to culinary school also before before he became a talent agent, he went to culinary school, Joe so yeah. So so, like you said, he used to gift his clients cookies and that kind of branched off to people saying like he should probably start his own company.

Yeah, and those same clients who you know that he brought the talent from, they became people that like, listen, we loved it what you got, We love the product.

We're gonna help you. We're gonna become investors. Investors, man, that's important.

That's a fact because it started because yeah, he was doing William Morris. He tried to branch off and through his own thing with that, and that didn't really work out. So the relationships that he established and they said that they would bankroll him. So it cost twenty five thousand dollars, which was a lot of money in nineteen seventy five. Like now, man, yeah, you know what I'm saying. Nineteen seventy five, that's like a couple hundred thousand, and that's where he started his company with.

Yeah, I think Marvin Gaye was the first guy that's like, I'm gonna help this guy.

Yeah, he started his company with what you called famous Amos and first year Bitteres sid three hundred thousand dollars.

So that's crazy. I read that. I said away that three hundred and seventy five. Yeah, he's Mota.

No, he was, he was. He was good. So he hit he hit, He hit it out the park right away, and by nineteen eighty two he did twelve million dollars in revenue.

Yeah, so after the first story, he started franchising. He was on Sunset Boulevard and Cali Man was doing it big. But he started franchising the stores out and generated some more income.

Yeah, so he really became a big name, a household name. He you know, he's in the Smithsonian Institute. Yeah, he has his hat and his shirt.

I saw his commercials.

Man.

He said, like, he got so good at selling cookies because he used to have to pitch talent to record label.

And he had the relationships and it was a good product too. Famous Amos Cookies was legit.

They're still legit.

Yeah, what I'm saying. They changed the rescue b So in nineteen eighty two, he's twelve million dollars. So, like I said, twelve million dollars in the early eighties, probably the equivalent of forty million now, like a lot. That's a lot of money, right, So he became a household name and he starts to you know, buy property and he's living our life. Right. So in nineteen eighty five that's when things start to kind of fall. Story changes.

To his own credit, admitted, I don't know how to run a business.

But he didn't have any mentorship and even in his people that he's around, an artist and things of that nature, he didn't really know what was going on. So it's all.

Good, May twelve million. I don't know how to run a business. That's astonishing.

Yeah, yeah, it was. And it's crazy too because we interview Ryan Leslie and he said that, you know, scaling can be like detrimental to you, Like if you're not properly prepared and you're growing too fast, that can actually hurt. He's actually better to have a smaller audience or to grow at a slower pace, but to be able to manage it, because like when you can't manage your scale, now you're really screwed.

That's his whole blueprint too, that's Ryan Leslie's blueprint that even with the smartphone was like you know, smaller audience payout.

Yeah, and that's what you said like before, like less's less is more sometimes Yeah. So now it starts to like just fall apart. He's on vacation and he finds out that he has a house in Hawaii. Shot out to all the good people he lives in Now hellohallow, does he still live there? Yeah, everybody knows I used to live in Hawaii. Tell again the whole vibe about there. So he finds out that his house is actually being

We're making light of it.

But it's just crazy. So it's like but then once again, that just goes to show you like especially like a lot of celebrities and you know, like even with the Fat Joe situation, people know like he went to jail

Yeah we see it having too much man, way too much.

So yeah, so so that was just like when he realized like, okay, things is really starting to go down crazy. So now he's scrambling and he brings outside investors in to help out with this company, because now he's starting to lose money. Yeah, so he takes I think like three million dollars of investors' money, but that didn't really work out, but those alone, so now he has to pay that back. But then they left and the company's

And what are you going to do when that havings?

Yeah, So in nineteen eighty eight, he sells the company to three million dollars. He sells it for three million dollars, and he sells the company in nineteen eighty eight to the Shansby Greup I think I'm pronouncing that correctly for three million dollars. So the crazy thing about it is that now he sells the company for three million and they keep them on as a brand ambassador. So he makes it deal with them, and he's not allowed to use his name anymore.

Yeah, because part of the sell is the trademark.

YEP so famous and amos. He can't his name is, he can't use his name, can't use it. So he built the company from scratch, from nothing, right, built it to a multimillion dollar corporation sells it for way less than what it was value for just a few years earlier.

He was hurting.

Not only do they tell him that you can't use your name, but they keep they give him a job to be the spokesperson for the company of the name that he can't use. Yeah, so he's doing that, which it has to be extremely like think about that, like think about like you start a company named Troy's Sneakers, right, you love sneakers, and you build it to a multi million dollar company. Then ten years down the line, you got to sell it and they're saying you can't use Troy.

Yeah.

I mean he found out about it when he tried to start a new cookie company.

We're gonna get to that after a while. It's like it's not after you eates, I can't do this, and he leaves and he's like he tries to start a new company, and they.

Soon they're like, no, you can't use that name.

For yeah, infringement part. So then he starts the company called Uncle No name, No Names going May yeah, which is a play on that he has no name. Now, it's really unfortunate, it's really really tragic, tragic, it's really tragic situation all the way around. Man. That so, yeah, so Uncle No Name he starts that brand. But so the crazy thing about it is that as he's doing the Uncle No Name, the company gets sold.

This is the worst part again, yeah, it's the worst part. So this is the worst part of the story.

So now, because he even said like he had depression for a little bit, he stopped baking at all for like three years because Uncle No Name didn't work out.

Really, I think they started making muffins. He went away from cookies, so.

He stopped baking. He cut his beard off. His whole thing with trademark was his beard in the hat. He stopped wearing a hat, cut his beard off. He even want people to recognize him in the street. It's like, I don't want people. I don't want to It's so I don't want them to see like this depressing, you know what I'm saying. So but as all of that's going on, Shansby the company that he sold to for three million in nineteen ninety two, they sold it a

Yeah Kell to Keller, Yeah, big, big, big breakfast company. Man.

So yeah, they sell it, he sells it. They sell it for sixty one million in nineteen ninety two, and then it gets sold again in nineteen ninety eight to Keepler.

Crazy, that's what the elf cookies at.

Yeah. So then so then they so. Then in nineteen ninety eight, Keepler decides to bring him back as a brand ambassador. I think it done, got flipped five cops ready the flip his own times.

You know what they did? You know he said when he came back and hurt his heart. I mean he had he tried the cookies, but they changed his recipe and all. Now they changed the rest respect like everything. Oh man, they let so. But but at least he was able to work a deal out where he made a deal with Keebler for Uncle Waly's muffins.

Yeah.

So they let him have a I guess like a subsidiary company within the company of that nature. And now he gives he gives some speeches. He's still a lot.

Yeah, he's still a lot.

He's still out and I think he lives in where he was living in Hawaii, and now I think he's back in South Carolina. He's back south, but he's he's still making cookies. He's still making cookies. I think the original idea came from his aunt Della, and so that's what.

He's going back to.

His new company is ant Della's Cookies because he can't use famous amis.

So I mean moral of this story. There's so many different morals of his story points and learning points. It's just like where do you begin? But I think the first one is business. Everything is a business. Like a lot of times people look at it like I'm a good chef. Well, I'm a recording artist. How many times is like that's not good enough. You gotta be able to understand that no matter what you're doing, it's a business behind it.

Yeah, I mean, just think about it. If he had licensed his name instead of selling it in that.

Deal, you could have done that, you know what I mean, Like.

His fortune, his fortune would have been a lot different, right, you know what I'm saying, Like you he's done now he can't here's his own name.

Nah, you can't. And it's like mismanagement is a lot of and it's a lot of people say a lot of time like ignorant and bliss. It's really not. It's extremely dangerous, especially when it comes to business. And like we did an episode on trademarks and licensing and and the legal side of it is extremely important as well, right, Like the people understand that, Like you got to understand the legal start or have a lawyer at least to help you. And it's important to people get taken advantage of.

You think he would have.

I mean if he sold it for three million, right, Like, what did he get the proper valuation?

Even though what evaluation was at that point.

He probably just needed money.

I just need some money. I'm gonna sell it.

Like you saw it three million. Then ten years later they gets sold for sixty one million and you can't even use your name.

Nah, man, it's crazy.

Yeah, it's like I said, man, it's a tragic, sad learning experience. But nonetheless it's still a learning experience. And I think entrepreneurs, business people, inspiring entrepreneurs, aspiring business people can learn from You gotta learn from other people's mistakes.

Yeah, I mean, and he still has his health at the end of the day, he's still alive and breathing to tell the lesson.

So I mean, at the end of the day, somebody gonna learn from his mistakes.

Yeah, I mean, that's the worst thing in the world. If somebody take your name, you can't use it like that's.

Like yeah, I mean, like you said, it broke his heart.

He takes the cookies, He's like, yeah, they change the recipe, nothing is the same, but his name lives on. Like that's those are like we talked about the Vendom Machine episode, Like those are still in venting machines right now today.

Somebody's in famous, same as Cookie.

But there's a lot of people like that where it's like the name, you think these people own it, but they really don't.

We talked about that, Yeah, Virgil, Donna Karen, Yeah.

He's Donna Karen, perfect example. So it's a lot of these situations where it's like your name is attached to something that you don't even have any control over.

What was us four hundred pion she sold it now it's worth like three billion, and then they put in any typisode that they want and downplay it kills the name because it's like now the branded name business shrug.

Yeah, yeah, something to think about. Yeah, man, something to think about. So your status storytell nostalgic episode. Uh so once again, thank you guys for rocking with us. But before we go, once again, we got drilled down on Philadelphia. Yeah, it's going to be crazy live podcast, networking events workshop, two days, situation, don't wait, don't.

Hesitate, open barcaded.

Yes, get your tickets eyl experience dot com. Like I said, it's about ten days out by the times episode comes out yep, so we're looking forward to it. And yeah, you got housekeeping items.

Yeah. Man. Shout to everybody on Patreon. I know people be like, y oh, man, I get my shot yet yo.

Shout out to James keiloh c Marie Tanico in Jessica.

We had an amazing conversation with Jessica. Shout out to her.

Hopefully she'll it'll lead to some some future business endeavors that we do with her. Like people know that we connected with bredon Mitchell thro Patreon and now he's a business partner us. So shout everybody that's using brand resumes that amazing service that they have.

And man, we had a group of conversations.

He brought his brother in the conversation, So shout out to him out in Texas.

Man.

Everybody that's on Patreon, obviously you know that there's different tiers, and obviously we've out added some more things for you just because we think y'all need it more. So shout everybody that's there and that's supporting through that and everybody that's supporting our merch. We got our tracksuits when everybody was like, yo, man, we gotta put the track suits on the site so they there, so make sure to purchase that and we look forward to seeing everybody in Philadelphia.

The traction vibe shout beyond winning. Kept asking me you know they were I got one form. I got one form just off the strength. But yes, shout out to our Cleveland family. A lot of people's actions about the tracksuits Eyo University track Suits is on our site. E y l earn your leisure dot com. All of the information for everything that we do is on early Leasure dot com. But happy birthday to you as well. By the timas episode comes out.

Most of y'all know that this this guy had as brothers.

Man, Yeah, I think this will come out one day before your birthday.

Appreciate that.

Also e y L University with something that you know, we pushed. We just had a class actually yesterday about Nika. It was like a free class and help people out and guide them on different ways to purchase property without putting any down payment. And like we do like the free class like once a once a month, so we a.

Lot of people get to get engaged, to get to ask questions.

That's like a preview of like what to expect.

I'm in there.

I'm always in there, so like people like they'll see that we we we're in those classes too because were trying to learn too.

Yeah for sure. And U YouTube. Every day we drop content on YouTube. That's something so a lot of people listen to us on audio and that's way we appreciate that. But if you want the visual experience, or if you want like we take clips from different shows and we put it on YouTube.

Shout shout out to everybody that tuned into the Al Harrington clip.

Thought that was dope with the future.

People know we interviewed out it's crazy like he needs a whole hour. I'm like, okay, episode. But that's a good thing about the YouTube is like we do an episode and you might be new to earn your leision. It might have been done five months ago, but we can drop a clip today and it's like, oh okay, and then you might go back and look at the whole episode. So yeah, YouTube is a whole visual experience and we drop a lot of content on there, and then in Patreon, we're gonna be doing some more.

Patreon don't have exclusive episodes.

Yeah, Patreon's gonna have exclusive episodes and transcript situation.

Transcript Joints is going to be launched. Yeah, and shout out to Shamida. Yeah, she's a part of the team. She's doing the transcript. So like a lot of people listen to us through audio while driving that at work and they never get to write down notes.

They want to, but they can't. So we're gonna help you all out.

We're gonna transcribe some of our best segments so that you don't have to take notes anymore.

They're gonna be there for you.

Yeah, and thank you guys for rocking what else? So you appreciate you? Peace, Peace.

Coach.

The energy out there felt different. What changed for the team today?

It was the new game day scratches from the California Lottery.

Play is everything.

Those games sent the team's energy through the roof.

Are you saying it was the off field play that made the difference on the field.

Hey, little play makes your day, and today it made the game. That's all for now, Coach. One more question.

Play the new Los Angeles Chargers, San Francisco forty nine Ers and Los Angeles Rams scratchers from the California Lottery. A little play can make your day. Peace paly responsibly. It must be eighteen years or older to purchase play or claim