Rabbit Hole Thoughts On AI

0:00Welcome to the Real Power Family Radio Show, brought to you by Family Success Triangle. Where we talk about how we achieved financial freedom in two years by the time we were 30. If we can do it, so can you. We will bring you the people who can help you achieve financial freedom, time freedom, and location freedom. Learn how we integrated our business, investing and homeschooling into everyday life. And now here is the Real Power Family, Eric, Lila, Devon, and Ethan. Welcome to the Real Power Family Radio Show, I'm your host, Eric Bowling, Lila's with me, Devon, Ethan, and Lila. Take it away. I want to talk a little bit about privacy today because I'm seeing more and more headlines not just on some of the things going on out when you're driving around or at stores, but real estate agents are now having to deal with breaches of privacy when they're showing a property. And that is getting to be more and more of a headline in and of itself.

1:03So the big story came when Lunding treated a survey and talked that 72% of recent home buyers reported seeing or suspecting cameras, microphones, or other recording devices during a home tour. Now when they went to interview the sellers of the properties, 56% of them even admitted to having recording devices active during a walkthrough. Now some of them said they were there just for protection, but then you get 90% of 19% admitting to using it to listen to what buyers liked or disliked about their property. And when you get into a situation like that, if you're walking through a home, you don't necessarily want the seller to know everything that you do or do not like about the home because that's where your negotiation position comes from. So let me get this straight. They are recording with little teddy bear cams or home security systems or whatever. And I can't imagine if I saw a camera, I'd probably just walk out. I certainly wouldn't discuss anything with you.

2:05I mean, I go through these homes so quickly and yell out to my assistant, which, you know, I used to have a Rachel. Now I have an eighth and a Devon and every now and then I'll take one of the girls from your office that wants to learn something, but they don't need to know exactly what I plan on fixing and how much I think it'll cost to do that. And it's just not efficient for me. I need to be focused on what I'm looking at and thinking about the cost and not writing down. I've tried that. I tried to write my own stuff down. It's so not worth it. So that yeah, I could see where if I saw somebody recording that stuff, I don't care. I don't really like being recorded on a ring camera or something. But if they had one camera as a security thing outside, I'd buy the house and take the camera down. But I don't need them recording the inside. I mean, it's so bad. I just went to Lowe's on the strip and saw they put up a flock camera.

3:05It's not directed at the road. It is literally directed at the Lowe's parking lot. So as soon as I pull into commercial sales, they can see everybody coming in and out of commercial sales or parking there or you have to walk. I don't know how wide the focus is, but you have to walk right in front of it and we'll know they record the people, not just the license plates, but they can track you. I won't go back to that Lowe's if I do. It's going to be a pain in the butt, but I'll go through the normal entrance rather than commercial sales because I don't need them knowing every time I walk in, every time I walk out and they can clearly see everything I buy this big there. And if I pull up a cart of lumber, a sun hard to take a picture and figure out what we're getting. Yeah. And I don't care if Lowe's knows that. They track me. They know exactly what I bought for the last, I don't know, six months to 10 years or 20 years. Maybe I don't know how far back their records are, but that's fine with me because I choose to buy from them. I don't want random strangers knowing.

4:09You didn't get flock permission. No. And if I were buying a house, I wouldn't want the sellers to know everything that I was thinking, especially by my personal home. I don't want them hearing what me and my wife discuss. And you're not the only one. According to the survey, 34% of Americans said no, he recording equipment was even used during a show. He would make them less likely to submit an offer. In fact, a lot of real estate agents are complaining because during their showings, people are rushing out so fast. There's almost no discussion because they see the cameras and they're just kind of done. And it's affecting home sales. You can see that there's people reporting on this on Facebook, on X, on Reddit. You'll see all of these real estate agents complaining about, you have this, this took forever to sell. And when it did sell, it sold it at discounting. And when I was trying to ask people what they didn't like, they didn't like the cameras. And Mom, didn't you tell us when you first brought this up, you could tell like if people

5:10didn't get to walk through or didn't get to stop and take time to talk about, this is Burry One furniture, this is what we're going to do with this room, stuff like that. Then they were basically not completely guaranteed, but it almost sealed that they weren't going to buy the house or weren't going to be whatever. Yeah, I know when a prospect is going to love a rental because they start planning where furniture goes. They start talking about all the things they love about it. They start getting emotionally attached to it at the showing. And if people can't do that because there's cameras pointed at them, it's going to affect the sale. Whatever guy said a woman buys the house obviously wasn't that they're one showing with me because two kids started arguing over which bedroom was going to be theirs. And it was, I don't think it was 284 Perry, but it was down in that neighborhood. I remember. So we're talking, one's last time I did a showing 2005. Long time ago. I guess to teach the new sales agents, I do a couple here and there to teach new people.

6:15But yeah, this has been 20 years and I looked at the mom and she just shook her head and I'm like, yep, if she's approved, they're definitely moving in here because the kids are fighting over which bedroom is theirs. And you need that. You need to, I always train if you look in the comments on sales course, Devon. Yeah, it's just the same when you can buy off her website if you're interested in becoming better at this. I always tell people walk away, leave them alone. I mean, do not hover over them. The worst thing you can do as a real estate agent or a leasing representative is to hover over the prospect that might buy or rent your home. You take them in, you hold the door open. So, you know, they're not following in and blocking the door from you. Let them go in, let them explore on their own. Show them, look at this awesome kitchen. See the big stove, you know, point out the better and then get the heck out of the way and say, take all the time you need, go back and look, I don't need to show you the house.

7:21If you have any questions, I'll be hearing the kitchen. Yeah, a leasing rep or a real estate agent is no better than a camera. They want their little bit of privacy to talk amongst themselves about what they like. They don't like where do they think this will fit into their life. If they can do that, frequently, if they, if they're stuck upstairs and I hear the whispering, when they come down, they fill out it now because they've, they've discussed it. They like it and it's a done deal. If I hear the whispering, I will literally yell, hey, I got to take the phone call. I'll be outside. Let me know when you need me to make sure they have all the privacy they want and can talk freely and look at anything. So consumer tip here, if you're thinking of selling your house, yeah, there's some benefits to cameras of you can see who does the image in there. How many times did we do lock box showings, especially in 2020? It was just really convenient because nobody wanted to go out and do showings. We would literally just give them lock box and I couldn't believe all they did is steal

8:21the applications. So nobody else could apply and now everything's online. So you literally just take a QR code to the kitchen counter and I didn't like that. I wanted a human being. I wanted human interaction because if we get a good showing wrap, she can get a lot higher percentage of applications turned in and we had no squatters move in. We had nobody that goes one drink container and then a couple of people stealing apps so nobody else could apply because yeah, and wasn't that like an awful classy neighborhood. They came in. That was the old words that we had sold since. Oh, yes. And they came in and like sat down and ate their McDonald's in the middle of living room, I think and left like an empty McDonald's back there and didn't even throw fries or anything. They didn't make a mess. They just left the trash there. So yeah, that's all that happened in the hundreds of showings and I know one of our

9:24friends wasn't that Brad Grayson, Brad 20,000. Oh, I bet you're right. I think he was saying how the city yelled at him that he couldn't just leave the door unlocked because he's like, yeah, go ahead, let yourself in. I don't have time to show you. Let yourself in and if you like it, fill out an app online and the city said, you can't do that. So he wrote, he put up a big friends sign and wrote across the bottom lock box code one, two, three, four. And if they they'd either let them self under they'd come is like, well, the lock box codes right there on the front sign, let yourself in. But we never had trouble with that. So I certainly wouldn't want, I mean, we just let them in with no surveillance or anything. And I know when we're selling something, it's not good. If you're right there, he's dropping on them or watching them, you're way less likely to get the sale. You got to let them feel comfortable back off, get out of their way.

10:25So there's no way I would put a camera in. If you're thinking that you need this, I would say like like we always say, we don't give advice. I'm just telling you what I have seen and we have managed some stuff in rough neighborhoods. We have gotten rid of pretty much all of that now. But even there, we didn't have problems. So I would say there's no excuse for impinging on the privacy of others. All what's going to do is get rid of everybody like me. I don't know if I'm a good person. If you're selling a house, I'm a good person because I can write a check to buy it. I'm not going to rent your house, well, except for more than a week at Oshkosh or something. But yeah, I would really consider it. I think the lack of privacy could actually do you far more damage than any perceived benefit you might get. And you would be surprised at just how well people take care of your property when they go in and they're just looking to see if they want to rent.

11:26So let's take a quick break and Ethan will bring us back. Every parent wants their kids to be successful and today's world, getting them the right knowledge to do this can be a challenge. My husband and I decided to homeschool our kids and give them a financial and real world education rather than making them memorize things they would probably never use. Our results are kids who became financially free before they could drive with no money or credit from us. Now at 16 and 13, they co-host our Real Power Family Radio Show and Devon is in his third year of college. How can you give your kids a head start like this? Check out our book Family Success Triangle which outlines the lessons we taught our kids. We want you to achieve amazing results at any age. Get your copy of Family Success Triangle on Amazon today and be sure to subscribe to our YouTube channel at Real Power Family and listen to the Real Power Family Radio Show Monday through Friday at 7 a.m. on the Brushwood Media Network. Welcome back to the Real Power Family Radio Show. Before we went to break we were talking about privacy and when it comes to people renting

12:30your houses or buying your houses or at least looking to do those things, then it's amazing how much of it just really drives them away if you can't let them be. If you can't trust them and give them the privacy to talk things out amongst themselves. I think that's something that you really can apply to all parts of life, just privacy and the importance of it. Look at how many people are speaking out against things like flock cameras. I know we talk about flock a lot but it's a perfect example of how many people are really speaking out against this, whether it's speaking out in city council, going out and bagging the cameras or disabling them in one way or another. You know, if you look at this mobile home park across the street from us and they have a flock and they're the only ones in the area and there is one at each, there's only two entrances and they've got you coming and going. It's looking both ways at both entrances.

13:31I would never buy a mobile home and it's a really nice neighborhood. I mean, there are lot rents like $7,800 a month, I think. I would never buy a home in there knowing they could track me. I think it's awful the people that have lived there for 20 years and now suddenly they're spying on them and they have a perfect record of every single time they leave their home. That's one of the things being reported now, Eric. Glitchwire was reporting on flock cameras affecting sales. An HOA community had exactly what that mobile home park did. flock cameras at both of their entrances and then also one point at the community pool. The listing agents were complaining on Reddit that the buyers were not liking it because they didn't know what was going to be done with all that footage. Yeah. They're uncomfortable with not having their privacy. They want that. You've got to be able to give that to them where you are going to end up with problems. I certainly don't want videos. My wife is going to go out and lay by the pool in a bikini and I don't need a flock camera

14:33right there pushing that all over. I didn't use that in a smart retailer green. I mean, she's the same age as us and said, hey, still look pretty good and had a picture of her in a bikini. That's fine. She chose to put that out there. She's a public figure and put a picture of her at the beach. But then they went, it was her. She was one of the younger girls in Congress that she had. It wasn't a terrible picture of her or anything. But it's like her at the beach. That's not something that you want passed around in Congress when you're working there trying to do a professional thing. It's something you share with your friends if anything. I don't want that to be in some government database or some database anywhere where they can go through and say, hey, go find me dirt on this person. We're going to make her look like a dumb bimbo. And that's kind of what they did. I thought, I don't know how they got this idea that Marjorie wasn't intelligent. But apparently that's one of the things that used against her that she had a low IQ

15:35where she was, I don't know. I never saw that or listening to her talk. I never heard anything like that. She seemed pretty smart to me. But you can take pictures and twist them and look at the date location, the time knowing exactly. Do you have any idea how easy it would be if you could break into one of these systems which is not that hard, apparently multiple people are doing it? Okay. Well, this guy in the blue Chevy, he leaves home number one, two, three every morning at 8 a.m. and doesn't get back until 6 p.m. So, and we saw him carrying, you know, you saw in the back of his truck that new big screen TV. Let's just go in and help ourselves to whatever he has in there. I just, there's no way that this can turn out to be good. And I come back to the, oh, well, it helps solves crimes. Well, guess what? If the cops can't solve crimes like they have for the last 10,000 years, maybe they should go through better training.

16:36I mean, if you can't do your job without this brand new technology or if you're too lazy to do it, then maybe you shouldn't be a cop anymore. Think about retiring. And you can say that it'll help solve crimes. How many other problems have come with that though? How many hundreds of times have cops or other law enforcement used these cameras essentially illegally or without authorization or for two things like stock people? Every technology can be used for good and for evil. And this is just another one of those examples. Is it right to arrest 99 people? And that or absolutely did something wrong and throw one innocent person in jail for life. And if it is, what if that one person is you? What if they decide the margin of error is no longer one out of 100? What if we get 10 false positives? And we throw 10 people in jail for 10 years, not even life, to get the 90 that we're guilty.

17:40That's not worth it. No, I would say I would rather let 90. I hacked it by the time we arrest them and put them in jail. Some of these judges are just letting them go anyways. I would rather let 99 guilty people go than put one innocent person in jail. Hands down. No question of my mind. It is absolutely we should absolutely air. Oh, wait, that's why you're innocent until proven guilty, but not with these things. They just send you a speeding ticket in the mail. And somebody driving my truck got one of those and being that it could have been worse for that person to fight it. At least this was a no point violation. They just paid it. But had that been me, I'd have fought that ticket. And they have no idea. They just sent the ticket to the company because the truck's owned by the company. So literally, it could be anybody that works for my company that drives that company pick-up truck that was speeding.

18:41And I know our bookkeeper, she just got another one of these mail-in tickets and she's fighting it. So keep me informed if you hear anything else about that. I can do that. Okay, we can do that. Because all they do is say check here and if you don't plead guilty or pay or whatever. If you do, then hey, look, it's no point, no problem, no questions asked. She just sent us $175. But if not, you have to tell us who was driving and who was going, no, it's not my I don't need to prove my innocence. You need to prove my guilt. So go out and prove it. And if too many people pay this, if they're going to see, I need to charge him. And I honestly don't care if I get a $500 ticket as long as it costs them $1,000 to collect that from me. As long as they're losing money, I've got the $500 to spend. I just want to make sure I cost them more money than me. And when they realize that financially it's a losing battle, that's how we beat the city of Alliance the one time with these rental inspections.

19:43We showed them how Kent was losing so much money doing this and all of the expenses that added on and then said, we're going to add to that another half million dollars for the legal bills. So good luck with that. But we should have done that as soon as they started charging a Kent. We should have just refused to pay. And now they got so much build up. They're making so much money because they're collecting all the money and not doing any of the inspections that will never get rid of this outrageous and unconstitutional tax that we have there. So I've just been selling off my Canton properties. All right, let's take another quick break and we will be back with Devon. Hi, this is Eric Wohen from the Real Power Family and best selling author of Family Success Trangle. Learn how my wife and I became financially free by the time we were only 30 and how we taught these secrets to our kids so they could do the same without any of our money or credit when they were just teenagers. Pick up a copy of our book, Family Success Trangle, available on Amazon today. And don't forget to tune in to the Real Power Family Radio show weekdays at 7 a.m.

20:47Eastern on the Brushwood Media Network. Welcome back to the Real Power Family Radio show where privacy is important. The certain people like to say if you've done nothing wrong, you have nothing to hide. But how true is that really? Because all of us, we want to have our own lives and not be constantly spied upon. And that's before getting into all of the less known or less reasonable government laws. What happens when they change the definition of what they consider right and wrong, legal and illegal? What if they pass the law and back date it and say, yeah, sorry, it wasn't illegal when you did it, but it is now. So we're going to arrest you even though you did it before the law was passed. Mm hmm. We're just technically forbidden in the Constitution, but they break so much of that already. Right. You want to go down the Eric's rabbit hole of thoughts on AI. Sure.

21:48Can you do that? Isn't that the premise of most of this show? Eric's rabbit hole of thoughts. Pretty much, yeah. Thanks for pointing that out of you then. I thought we were focused and concise and not all over just on my whim. But yeah, sure, that's what it is. Well, hey, if people enjoy it and we still get good information out. Yeah. All right. So AI, this AI build out cannot stop. So here's the thing. They have to sneak through and get the permits, right? There's too many people are saying no. And the governors were so idiotic they were giving all these tax incentives to the point that Ohio is going broke. They're like, well, we can't keep doing this. We got to rein this in. I don't know if they actually did rein it in. Stop it or take anything back, but it wasn't good. So now they're building this massive AI plant and parry right by us right across from the old Timkin steel. And they say, oh, we're going to a closed loop system of water.

22:51And you know, they can't do this using virtually no water, but it costs a lot more. So the only reason these data centers need so much water is because it's cheaper. And once they're permitted and break ground and start building it, then they can come in and say, oh, well, this isn't going to work with a closed loop system. Now we've got to dump it all this hot water into the river. And you can't stop us because while we're already permitted, look at all this stuff that would go wrong. So these are some of the things that will not happen at every data center, but will I guarantee you will happen at some. And we have spent so much money that the richest companies in the world, the ones with the highest cash flow because equity is nice. It's good to be a millionaire or a billionaire. It's good to be a trillion dollar company. But nobody really cares unless you have cash flow. We learned that in 2007, didn't we, Lila?

23:52Yes, because we saw too many go the other way. Yeah, we had all kinds of equity and way more assets than liabilities. Even when the housing crisis crashed, we still had plenty of assets, but we couldn't maintain the cash outflow with the cash income. And as Keith says, when you're upkeep exceeds your, when your outgoing exceeds your income, your upkeep will be your downfall. And this is where the saying you can't eat equity came from because you can have equity, but if you can't meet your monthly bills, if you can't make that mortgage payment, you're still in trouble. So are we getting any income from all this AI and data centers over in the grand scheme of things? Are we getting any big chunks of income, Devon? No, not really. They're generally losing money. Are we spending massive amounts on capital investment, Ethan?

24:53Yes. Okay. So the building these things, and that's an easy line item to wash away in your quarterly financials. Oh, well, look at all of these fixed assets we're building. So it looks bad this year, but next year will be great. How will we be great even if we don't have that? We've still got the upkeep on that mega facility that we bought last or we built last year. So they need customers to pay them. So it is in big data's interest to get as many cameras out there as possible because video files take up a lot more room and storage than just say tracking our text messages or our audio recordings. Have you guys thought of that? Yeah. We got to find a way. They're creating the demand. They're creating the demand. If you're building the file cabinet, you have to create files to put in it or nobody's

25:54going to buy a second file cabinet if they don't fill up the first one. And they have to show some sort of income. But here's the thing. They're not showing that. And logically, they know they can't show that. So they absolutely are in a race and they're trying to convince people that it's a race to get to what's the right word, Devon, for a self-aware AI, the CEO general intelligence or AGI is the most common. Yeah. All we have is large language models now, but we're in a race to get to AGI and the theory is, which could very possibly be true. So I'm not arguing that that once one gets there, nothing will ever be able to catch up. And when we talked to what's his name, the attorney general from Nevada, Lila, we had him on the show a couple of years ago. Can't remember the name, Afian. He was really well versed in this.

26:54I tend to believe him. He could be right. Some of it, not all of it, but a small percentage of everything we know has obviously theoretical. Because this has never been done. So we can't say what's really going to happen or guessing. And so that's the idea that whichever company makes it, will have it or whichever country makes it, will have it. Now we have AIs doing naughty things. And even some of these AI guys are saying, well, maybe we should put on the brakes and let the government regulate us just a little bit before it was no go, go, go. Well, I have to wonder, do they really want the government to regulate them? Are they really that afraid that it might kill us all? Because they said there's a non-zero chance, maybe 10% that is going to kill us all in the next handful of years. They really are that concerned. Why aren't they doing more themselves?

27:55Yeah, that's what I'm thinking. But why does the government make the right choice? It's understanding that I don't believe anything until it's been publicly denied. Another theory that I have is maybe they understand they cannot continue to spend all of their free cash flow and borrow money and look at how the last time we went over this, I think Apple was the only one that wasn't grossly over borrowing. But if you look at all the concentration of wealth in America, other than your personal home, the vast majority of people they control any wealth is wrapped up in the stock market. Like a really unhealthy percentage over half of the net worth of America is wrapped up in the stock market other than your personal home. If I remember that stack correctly and all of the stocks, anybody in index funds, they're just automatically going in.

28:57That's why like Banyan Gold who was on here a month or two ago, we had Tara from Banyan, she's a CEO there. They're going to be stuck into an index fund and the Toronto exchange, which is really going to drive because there's all these robots buying and anybody in the index fund still automatically buy. So I want to buy a couple thousand more shares of that just throwing that out. I don't know. It's a wild gas speculation. This is not advice and this is not something you do with your lunch money. But if you got a couple hundred bucks or a couple thousand dollars, you want to take a wild speculation and maybe get a big return with a lot of risk, well, that's why I did it. You decide for yourself, but I was happy to read that print out when she or that email she sent us. They said, yeah, they're going to be listed there and it's coming up pretty soon. I forget exactly when. So the same thing goes with all of the AI stocks that we used to call them the magnificent

30:03since seven. They've had the fangs stocks, whatever. But basically all the biggest stocks are getting bigger and bigger and bigger. Not because of sound judgment, but because they're part of an index. They're part of the biggest one. So they're bought even though a logical stockbroker that could take a breather and not get greedy and take a step back would say, yeah, looks like it's overvalued to me. If you aren't Gordon Gecko or the Wall Street, you should really be thinking twice about whether you want your clients money into some of these things. And I'm not saying you should sell right now, although I am because I ended up with some AI stocks that the company pivoted into AI from Bitcoin and I didn't want anything to do with that. So I'm still an investor. I am morally opposed to that and I don't want to money there, but I'm also not going

31:04to dump everything and pay huge capital gains. I'm selling in tranches just like I talk about all the time. I probably wrote about it in the newest free book. You can still get that book if you use code radio when the coupon code just go to the store page, go to the very bottom right corner, click on the how to keep your wealth for generations book and forget about the credit card. Just type in radio under the coupon code and download your free book. And again, that is realpowerfamily.com on the store page. How to keep your or how to I forget the name of it. Thank you for it and investing in how to keep it for generations. Thank you mom. Now that we've figured that out, why doesn't everybody get to do that because we're getting very little, very, very, very few downloads. I mean, it's a free book people. You can't learn less. And I think it might open your eyes is to once you get some money where you should put

32:05it, how you should store it and grow it and speculate with it. It just it really explains some options and it's a really good place if you wake up one morning like Lyle and I did it and realize, whoa, we're really good at real estate, but 90% of our net worth was wrapped up in real estate. That's not healthy. We need to move this some and the lessons that I learned by moving my wealth out of real estate without actually selling any of it and into multiple other asset classes not only made much, much wealthier, but it prepared us for whatever happens. I am not afraid of the next downturn. Listen to John Burley interview's like, man, when this happens, I don't know what's going to be, but I am totally prepared for it. It's going to be a good time again or listen to what Rick Rool said just a few years ago. I think he read it on a bumper sticker. He said, yeah, I read this bumper sticker that said, Lord, just give me one more bull market.

33:08I promise not to waste it. Well, I am prepared. Whatever that bull market is in, I am prepared. So maybe AI stocks have a dramatic downturn and I lose a bunch of money. Well, that's why I immediately sold something, not trying to get the most I could. And now I got a phone call to my accountant because what good is making the money if he give a half of it away in Texas. So I got to figure out what I can do here and how much more I can sell this year or if I need to sit on it until I've had it for a full year so I can pay a lot less in Texas. A lot less in Texas for long term capital gains. But that's something you should be worried about. That's a problem you have when you start making a lot of money. I want to help you get to the point where you're making so much money. You have problems that you can't figure out and need your account and to call you back and he's on vacation for like 10 more days.

34:11So I want to help you create those problems in your life. In order to do that, you should go to realpowerfamily.com, store page and download our free book using coupon code radio. We'll be right back. Brushwood Media Network. In Ohio, property taxes have skyrocketed with recent budgets ignoring the crisis, forcing families and seniors out of their cherished homes. It's unfair. No one should be evicted from their lifelong investment. Support our constitutional amendment abolishing property taxes, making school funding fair and constitutional for all districts via state dollars, fire and police stay fully funded. We'll shift to consumption and income taxes with smart legislation ensuring gradual phases and no burdens on low income families. Best of all, it ends corrupt developer giveaways politicians fear losing. It's time to force politicians to prioritize the people of Ohio. You should own your home free and clear.

35:14Sign the petition today for the 2026 ballot. Go to citizensforpropertytextreform.org to learn more and join the site. Welcome back to the real power family radio show. And dad was at Robert Kiyosaki that said something along the lines of, I've been rich and I've been poor and being rich is a whole lot more comfortable. Something like that. I would not doubt that he did. I know. I can tell a lot of people that I have two open cockpit vehicles, three now. Oh boy. But I have been riding a bicycle through the rain and was miserable. And I have been driving my comfortable Porsche through the rain and was miserable. The difference is one of them I can press a button and the rain goes away. So I have been rich during rain, I have been poor during rainy days and rich during rainy days. And rich doesn't fix all your problems. And it does provide a lot more comfort to you in the bad times.

36:18Lila, you were there for all those. What do you think? Yes, I think you're absolutely right. And I think the hardest part for people is you can't just keep doing what you've always done if you want to get a different result. And that's the hardest part for people is learning how to change that. I think that's why your book is so key because it explains a lot of the things that most of us didn't get in school. Things are not going to teach you. And things that can help you make good decisions for yourself. Well, let's go back to the building the AI. They can't stop no matter how much it's going in. And I want to throw out an ulterior idea. Maybe it's not to be the first to reach the singularity or AGI isn't that a just a gross income. Whatever it is that Devon said. Maybe it's because they know right now we're taking all our correct shareholders and hopefully in these companies the people that work there are heavily invested.

37:22Now a lot of them and one of the things I was disgusted with the CEO gets outrageous benefits. And yeah, he should totally be rewarded. But these things are just there off the hook for how much he gets rewarded if the share price goes up. He's not with this incentive structure and this company that I was awarded shares of through a bankruptcy court. I did not buy them. I want to be clear there. And they took all the assets of another company that I did actually like and they're repurposing them to do AI instead of Bitcoin mining. And I was like, and then I see the share structure. It's in his best interest. Literally the only thing that matters to him on a monetary, you know, from the I've been to the board meeting. Very few of us showed up there and all that matters is him jacking up the stock price as quick as he can.

38:23And I don't know is there a tie up if he hits a stock price at 90 or 100 or 110 or whatever the next bonus is does he have to keep those shares for a year before he can sell any or can he dump them and get his golden parachute right there. But we had a big bonus at 70 and then that kicked in and now we're in the mid 80s. So it's going up quick. And I'm still I don't need to be there to get as much as I can. I am very happy I got anything. This was like money that I never thought I'd see again. And so if I can ease out of that without paying too much on taxes, then I'm going to continue to do that. So I'm selling in tranches because something that I think is more likely, I don't know if they'll ever get to the singularity. I don't know if that's possible. I don't want to say ever, but they're sure this is going to happen in the next couple of years.

39:24I'm not so sure. I'm not willing to bet all of the profits of Amazon or Nvidia or Apple that that's going to happen, even if I had those to bet. And in fact, since other people are betting that much, I don't want to own their stock because that would be me condoning their betting. What I think is more likely is they've got to be the first to get an IPO. So their valuation can go nuts and they can pull out. That's the only way I see is offload the shares onto unsuspecting new buyers and an IPO, especially for these little companies. I'm not talking Amazon, but these little companies that are doing this, they're going to be they've got to be the first to an IPO with, I mean, it's got to have a promise like SpaceX. We're going to go to Mars. They literally have to think they're going to the moon or higher.

40:27So they can cash out, get all the money they put in back and windfall profits and their golden parachutes and bonuses and stuff for the people working there. But I think that is a lot more likely that they are rushing to be the first to an IPO for these small companies, which is like the company that I am. I have been granted shares in. And that's all going to get away from that because the incentive structure is all rise. Just the whole incentive is to push up the share price. It's not about anything sustaining and Ethan, you're work from my construction company. What is the end all be all? I mean, do we buy the most expensive faucet to put in a $600 a month apartment? Do we ever buy crap that's going to break? What is the driving thing that I tell you when in doubt? Make sure you fix it so it does what? So it works and doesn't break again because if we put in the cheap stuff, same, same premise

41:34is trying to take the easy way out in really any part of business. If you try and hire cheap people to do stuff, if they're going to mess up the work or if you get bad products that are just going to break again, guess what? In a couple of months, you're going to have to come back and fix it. And since I, A, don't want to have to drive out somewhere again and deal with that. And it wastes my time, waste my energy, it wastes the owner's money. No one wins. And the residents, person living there has to deal with whatever it is breaking down again. And someone else coming in their house, their home where they live, invading their privacy to replace something. And no, the, and you kind of hit on it, but the underlying forces fix it so it lasts for 30 years. Then I'll never have to deal with it again. It'll be my kids problems. Yeah. And even if we have to spend a little bit more, how many times, how many places have I put on that elastomeric coating on the roofs?

42:35Yeah, it's decently expensive. And yet it's really good stuff. And if we don't have to go out and fix those roofs for another 10 to 30 years, that's great. Yeah, the tar we used to use on them in the last five years, or that was the warranty. The furt wall our house, we put a double coat on it and it's been 10 years and you can't even see any wear because I put a black coat on it and then green on top of that. It's the rest of the roof is green. And I figured, well, whenever we see it wearing through the green, then we'll go back and you'll still have the whole black coat of elastomeric coating. It's been one of the 10 years. And how many roofers did we hire to fix that before I finally just did it myself? A lot, several at least. But elastomeric coating was brand new. It's basically a silicon base coating and we went out and I had hired at least five or six different people and many of them were out there.

43:35Money times thing. I can fix it and finally give me a say, I give up. Here's your money back. I ain't coming back again. We put that on never had another leak from anywhere in the entire flat roof and flat roofs in Ohio. Bad idea. Don't build one like that. Yeah, we finally learned they invented new materials and we coated it with that. So I don't know how long one coat will last, but I look out every time I look out of my bedroom window or my bathroom window, I can see, yep, still looks green because that roof top is right there below me. And so we started using it on all our rentals to make them last longer, anything like the mobile homes we used to have to do about every five years. I don't think we've ever done an all at once we got the Alastair Marik on it. Sure, I could buy a bucket of tar for 50 bucks, but most of my labor or most of my money goes into labor. So it wasn't the materials I was worried about. I'm happy to spend 250 instead of 50 if I don't have to pay for the labor every five

44:38years. And now the cost of that has come down. It used to be over 250 to $300 a bucket. Now a bucket's only like $200. So as more people buy it, they'll get better at making it and the price will keep coming down. So what you're saying is that you're doing what's going to last. You're thinking long term, not for the immediate short term, anything. I don't want to just push up my share price overnight. I wanted to last for 30 years and I want to invest in companies like Tara's company, just since we were talking about her before. I wanted to buy this because there was just an awesome deposit there. Then there's plenty of companies that are as good or better than her. If I wanted to buy a great management team, yeah, there's still decent amount of companies out there that have a great manager like her. But what I want is a great management team, a great deposit of gold specifically and a

45:43good jurisdiction and Canada's pretty good. She's in the Yukon and more than that, I want to know what your exit. How do I get my money back? She goes, we are absolutely and fully prepared to take this to a developing mind. She says, now if somebody makes an offer, my words, not hers, that is completely oblivious and doesn't understand math, we might take it and get a huge, windfall profit many years earlier. But I know holding this long term will be by far the most important thing. And if she sells out to Barrick or one of the big gold companies, we're going to get a windfall profit right now. But then it's gone forever. It's like fixing up a house and selling it. What good is that? Then you got to go find another one. Whereas if she turns it and develops it into a producing gold mine, we could get dividends for a long, long time. And I think one of the streaming companies we bought into also, they have a contract on

46:50streaming. And I think they said they had some from Banyan. So whenever it starts producing, even though it'll be years from now, then I will also be getting some of the streaming income from that. But so I'm playing this in multiple different ways. And I don't like people that have one gold drive up the price right now at any cost and then get out quick, sell it to a bigger sucker than you. I remember being at my hedge front manager's house, the friend of mine. And let's say they were getting started. It was a Friday night and they were just starting to open the alcohol. And I'm talking to our clients from California. And they own that apartment building in Canton. And they go, you got to give me a pro. I go, you so don't want to hear the price that I would pay for that. Give me a number. And I'm like, we're talking like $100,000. So he goes, ow, that, I go, if you want to cash off her, that's what I would pay for

47:53it. So like I said, since you probably pay to eight or ten times that much, you don't want to hear. I mean, this is 23 units, but it was just awful. And he goes, we got to say, just, I just want to break even. I don't need to be like, oh, he goes, how can I do that? And then Fred yells, tell him to find some sucker that lives on the West Coast. And he goes, tell your friend, I am the West Coast sucker. And friend, Fred hears this. He's like, well, find a bigger one. All these years, managing a hedge fund. And that's what I get from you. Find a bigger sucker. This is why you got to buy your properties of rights. That's the thing. I think that we're in that where the only way to get out is for these companies building data centers, getting into the AI grossly overdoing all of this stuff. Even some of the picks and shovels, a lot of them are going broke, not yet, but I see

48:54them over the next handful of years they've got to, they've got to be the first. And what was it, the guy in the big short said, or was that margin call? I think it was margin call. Three ways to make money. Be the first, be the best or cheat. He says, well, I don't cheat. So that's out. And it's really hard to be the best. That means you will be the for all of this bad debt, all these mortgage securities. 100% at any cost is off of my books by lunchtime tomorrow. Because by the time we get to lunch, everybody on the streets can I know what's going on. And we got to be out of credit, D swap swaps before then. And that was a great move. The movie wasn't as exciting as the big short, but really great lessons there. And margin call. And that was about the great financial crisis that night. I was with Fred that night when that was going on to the night they were talking about

49:55where they woke up the guy and he flew in an helicopter. I think Fred and I stayed out to like 2 a.m. They're like, well, sitting around as barn, he didn't go out for sure. But there must have been a dozen of us sitting there trying to figure out is the world still going to be here on Monday? No. No, I think we're getting to that. We don't know what it's going to look like or how it'll feel or who's going to get hurt or who will survive. And somebody's going to get obscenely rich. And an awful lot of people aren't. They're going to lose a lot. And I'm afraid that we're at the point now where they have to keep pushing because they're past the point in no return. So even though you got a headwind, Ethan, even though you know you can't make it the rest of the way across the ocean, you got to keep trying because you certainly can't turn around and go back. You're past the halfway point. You're past the point in a return. Yep. And I think that's where we are. So use that knowledge to make decisions. I think the decisions that people make with their portfolios, which is why I'm pushing

51:00this book so hard people. I don't really care if somebody takes a free book from me. I think that if you learn the information that I'm teaching in that book, that you can make better decisions and you can't be afraid right now. There'll be plenty of time to look back and see where you messed up because I guarantee you'll mess up no matter how much education you get. You'll screw it up. You'll make mistakes. So will I. All of us will. But if we can divide and protect our wealth and income sources a little bit better than everybody else, we don't have to outrun the bear. We just have to outrun our friend that the bear is chasing with us. Right Lila? That's how they say it and that's the way it goes. So get Eric's book. Go to realpowerfamily.com. Click on the store page. Go down to the bottom right. It's right there. Easy. The book is a quick read. It makes sense.

52:01It's logical. And if you have any questions, you can email us info at realpowerfamily.com. Hey, didn't we have a couple of teeth and tell me about the text. Wasn't that about Banyan Gold? You got a text. Yes. That was awesome. Let's cover that before the end of the show. Yes. Someone texted who gave me a second. Let me pull it up. They listened to the episode of Banyan Gold. I don't remember what they said. They emailed in or texted brushwood or something. I think they said can anybody in the US buy that? Or like, yeah, if you have a stock trading account, you can. So yeah, it was Dave who texted and I texted back. I'm like, hi, Dave. This is Ethan from the real power family. Yes, you can buy Banyan Gold with any US trading account. And then I gave him the ticker symbol for over the counter and their website, BanyanGold.com. And he responded. He's like, hi, Ethan. Now a celebrity reaching back to me. You guys are real. Thanks for the info. Great shows. I'm telling all my friends.

53:02That's so awesome that people think that we're celebrities. I was going to say cute, but that sounded a little bit demeaning towards the listeners. I don't see myself as that. You see me? Just walk up and say hi. I'll talk to you. I mean, it's not like I'm surrounded by security guards or anything. I don't know what a celebrity is, but I don't feel like one. Can you feel like one, honey? I don't. I'm just out there to help the people. I'm just the same guy who was when we were sleeping on a warehouse floor. And I got the greatest compliment. Your mom complimented me yesterday. It was awesome. I mean, you got to love it when your mother-in-law is happy with you and called her up to, she was like, is this good news or bad? And knowing her, it could easily have gone either way. I said almost everyone in the world would think this is very good news, but who knows how you'll take it. And she goes, oh, I'm just so happy for you guys. She goes, I remember when you had nothing. And I mean, I'm like, oh, yeah, I remember eating ramen.

54:05I remember sleeping on the warehouse floor. And I said, but I always knew I'd make it. And she goes, and that's it. You know, Jerry and I, her husband and her, they believed. Not that we could do it, but they believed that Eric believed he could do it. And that was enough. And I know that I just had enough belief for everybody. So it's time for you to start believing in yourself. One or different thing, different thing. We went through maybe a little bit harder stuff. We maybe learned different lessons. And we were too stupid to give up or too stubborn. But I absolutely refused to fail. The only way you can fail, people would say, like, but you fail over and over and over. I'm like, no, you only fail permanently. It's like being lost. You can't have ever been lost. Maybe you temporarily lost your way. Maybe you didn't know exactly where you were. But if you know where you are now, then you find your way back home. So you weren't truly lost. You were just temporarily disoriented.

55:07That's the way I look at failure. Well, that totally didn't work. It was miserable and absolutely the opposite of what I should have done. But as long as I learn from it and try again and again and again until I succeed, then it wasn't a failure. It was just one more dead end and one more way not to do something like inventing a light ball. Who knew we had put in a vacuum sealed container for the thing to work? No one one more way to learn. They did. All right, wrap us up, Lila. If you are interested in AI and want to go back and listen to that episode, Eric was mentioning with the prior Attorney General for Nevada. His name is George Chanos and he was from last year. So you can go back and look for that episode, Devon. I think that everybody should keep learning more, but also know that if something can't go on forever, it won't. And the way we're going with AI can't go on forever, the way it's currently going. Ethan? People need more information, whether that's how they can improve their life, what's going

56:08on in the world nowadays or well, basically everything. So keep going out, learning, listening to different podcasts, radio shows, read books, newsletters, anything that you can use to learn. Bubbles are called bubbles for a reason. They always pop. So you can say no, this will go on forever. Just like every other person that's lost the majority of their wealth and a crash of some sort. You can go out and study bubbles and figure out what's going on and learn how to protect yourself. That's what we do. That's what my newest book is about. And don't forget we still have the family success triangle. That one you actually have to buy, but you can get it on Amazon, the digital version is probably only a couple of bucks. And then I'll show you the lessons we taught our kids and how we grew our businesses at the same time, how we integrated everything to create the wealth that we are now out

57:11there teaching people how to protect and pass on to generations. But the key is the kids have to actually, when you have to have the wealth and two, the next generation actually has to want it and not hate your business. So I figured between the two, they're the two most important lessons that I could pass on to the world. That's why those are the things I've wrote about and that's my last couple of bucks. Hope you use that and what you learn here on this show to make the world a better place. We'll talk to you tomorrow. We hope you enjoyed the Real Power Family Radio show brought to you by Family Success Triangle. We want you and your family to be financially free so you can go where you want, when you want, with whomever you want. And how we can help you live the life you've always dreamed of at RealPowerFamily.com. To hear more, subscribe to Real Power Family on YouTube. Until next time, go out and make the world a better place.