The secrets of black economics - Dr Boyce Watkins

0:00Good morning everybody. Good morning. Welcome to Monday in the morning, aka economic elevation, aka financial consciousness. My name is Dr. Boyce Watkins. And I want to say hello to everybody who also believes in the B1 philosophy B1 is black first. Black first means that we take care of our community first. Black first means that we put our people at the top of our priority list because if we don't do it, then nobody else will. I just want to make sure we're clear on that. We're clear why we get up every day and we study our finances because if you practice basketball every day and you practice football every day, then you should practice your economics every day. 99% of all black boys that grow up playing football never make a nickel playing football. But 99% of all black boys who study economics growing up make money through economics. Does that make sense? Does everybody get that? Does that make sense because some people don't understand why we do this? Anyway, so today I want to go through a few little things and you know, let me just tell you, I slept

1:02good last night and as I'm sleeping, I'm always thinking there's always so much stuff going through my mind. This weekend we had a great black retirement summit which was just off the, off the heasy as they, as they used to say, old people say that now it used to be like, as a young folks used to say, now we're old. We're not older. We're older. I think we're older than we were yesterday, right? But anyway, it was off the, off the chain, hundreds of you came by and it was great to see you. We did a Zoom this weekend. We just went through retirement from top to bottom and I want to say thank you to those who joined us. I looked at your survey data and extreme detail. The results were good. You guys really loved it and I'm really happy about that. I think 95% of you were like, yeah, I would love for a friend to come in. I want to do this again. So that's good. So we're going to do it again. We give you, we give you what you want, what you need, we love you long time. All right. So anyway, we, we, so, so we did that this weekend and we covered a lot of the important stuff with retirement because in case you don't know,

2:02America is in a retirement crisis. Right now, most Americans are not ready for retirement. That does not include B1 people because B1 people are the most financial intelligent people on the planet. And that means we're not behind anybody. We're not behind Jewish people. We're not behind Arab people. We're not behind Asian people. We are the leaders. We are the world leaders in economics because I got a PhD and I've been teaching Asian and Jewish kids since, since way back since the OOs way back since actually since the 90s, man, I mean, come on now. We don't have to be second place to anybody. So, so here's a deal. As we start money in the morning, I want you to make sure that you, you, you get what you need, you know, on these things, right? A lot of times just having a few extra details, knowing a little bit more about estate planning, things like that. Well, I'm sitting with, I gave you all access to the retirement command center where you can go in there and you can punch in your age, punch in your, your numbers, punch in your debt levels, punch in your income levels, how much money do you want to make during retirement, stuff like that? And then bam, you get your number. You figure out what the goal is. How much you got to save? How far away

3:05you are, things you got to adjust to your own personalized report. Like you got everything you need, right? You got everything you need. And one of the things that I will say, I'm going to say this until I'm old and gray is that we think that a lot of what we don't have or where we're, you know, us not being where we want to be is due to a lack of knowledge or like a resources. No, a lot of times it's just like a discipline. Sometimes you got to just dig in, get it done, confront the problem and then you grow from that, right? And that's what you did this weekend. I want to say I'm really proud of you. I don't care if you got two nickels to rub together. If you did, if you did the damn thing and you're showing up for yourself, then you will win. You will be a winner. You, you might go through some stuff, right? Because you know, there's consequences, right? That never goes away. But you, but you're going to be better off than the people who sit and deny, deny, deny, don't take accountability, blame others, talk about what they don't have. Sort of live in a scarcity mindset. You don't want to live in a scarcity mindset. A abundance mindset is what's going to get you ahead. There's science that backs this. This is not me just giving you a feel good speech. This is me actually telling you the truth

4:08about how this sort of thing works. They're literally there. They're studies that show that people they have an abundance mindset, people that are willing to engage in and delay gratification, people who are able to sort of see, see, see the good over the bad, right? The positive over the negative that those people do better, right? The people who sit around and complain about what they ain't gotten, what they can't do and white man won't let us do this. And he going, he going burned down our black Wall Street. So ain't no point in building one. I was like, well, I mean, if you're going to just quit before the game begins, then do you do realize that if you quit the game, you can't win, right? Like, like, do you do understand that, right? That you've gone from giving yourself a, maybe a 30% chance of winning to a zero percent chance of winning. And that's one of the things that I've learned over time is I've studied financial psychology. You guys know in the black business school, we have the first ever black financial therapy department is one thing we realize is that mental health as it pertains to just flat out optimism and resilience that all that's

5:09connected to black economics, that literally people that don't have optimism, usually replace the optimism with pessimism and pessimism will destroy every dream that you ever had. Like, like, there's nothing that pessimism can ever do that will increase the likelihood that you'll be successful. All pessimism will do is it will take a low probability of success and turn it into a zero probability of success, right? It'll take you from having one foot in the game to having zero feet in the game, right? Instead of, yeah, you had one foot in the grave. Now you don't put your whole body in there and now you really ain't got nothing. So don't, don't do that to yourself. Don't, don't, don't put yourself in that whole do nothing, be nothing category. You are extraordinary. You got what it takes. So anyway, for those who want to watch the recording of what we did at the black financial or black retirement summit, you can go to blackretirement summit.com. The recording will be there. You just lifetime access for you and your family forever. So feel free to go to blackretirement summit.com. Now I want to shout out a few people, feel, feel I look at the analytics of who's been coming

6:10to class every day and I'm a name of few names. I won't name all the names because there's literally hundreds of you that have just been like, like literally spent thousands of hours in class with us, which I just am so proud of you because you're good, you're learning so much. You're getting so smart. Now, and it's not because I'm not sitting here saying, I'm so smart. So that's why you're, no, but I know a couple of things, right? And, and that's what I love to do. I don't really have a lot of patience or energy to try to teach things to people who don't want to be taught anything because I don't want to be a know-it-all because you know, people get mad at you if you try to help them and they don't want help. They say that what is it? I heard somebody say this one time. They said, they said, unsolicited advice comes off as criticism. That unsolicited advice comes off as criticism. So this is what I want to just share with you in case it helps you. Don't be trying to push this on your relatives that don't want to hear it. Maybe on your kids or your grandkids or your friends who say, man, I'm looking for a solution. Can you tell me something, right? But don't be like just beating people outside the head with it. Like if they don't want to hear it,

7:13let them do what they're doing. Let them try their method. Maybe their method works better. Maybe that job is doing, is taking good care of them. Maybe they're happy at their job. Maybe they're financially secure. Maybe they have a better, I don't know. Maybe they think their draft Kings app is going to, you know, the sports betting is going to make them rich. Let them believe that. And in the minute they act like they're not interested, you got a back off. You got it. You can't change people like that. Believe me, take it from somebody who spent his whole life believing that if I just, if I just show them the light, if I just give them some guidance, then man, do you understand me when I tell you that people like that will bring you down. They will destroy you. They will ruin your mental health. They will, anybody have that way, you just try so hard to fix somebody and then they end up messing you up. Right? You and they say, no, you end up being just like them. When you fall it into them, pit with them. No, save yourself. But drop the rope down the pit and say, hey, the rope is here. If you want it, some people just want to sit and burn it here. I'm burning. I'm burning. You like, but the rope is right next to your head. I'm burning. I burn, but the rope, the rope is on your forehead. You just grab,

8:19I'm burning. It's so hard to be playing. I just can't make it. What is I going to do? Some people don't want a solution. They will fight. They will fight you. They will literally fight you. So anyway, let me acknowledge a few names because I'm just being goofy today. Let me stop. Boys be serious. Okay. We're going to do, give them the serious voice. All right. So, few names I just want to acknowledge. These are people who've actually attended, who've had, who attended the most sessions in the last say year and a half. It only goes back 500 sessions. But Gary Hayden, Gary, Hey, Gary, if you in here, man, you're number one. Gary's attended 356 classes. I think out of like the last 400, he's a 356 or something. That's amazing. James Keller, Daniel Gattabaki, Kendall Green, Lisa Jackson. I see someone in SG. I think it's Shanta Goodwin. Is that you know, it's so they guess that's SG Shanta Goodwin. Okay. Royal Calhoun, Valerie Maxie, Polly Lyons, Grant Holly, Rodney Ward, Ed Wiener, Douglass, L Nicholas,

9:22Steven Gordon, Melvin Joppy, Calvin McWilliams, smartest black man on earth, James Brown, Jr. Yeah, James Brown. I'm sure you've heard many jokes about that name, but I'm not going to make another one. I was really going to make a James Brown joke. That's so bad. Al Sharpton, I used to hang out with Al Sharpton in New York and sit with him. He used to tell me James Brown stories all the time. And let me just tell you Al Sharpton, I don't a lot politically. I don't understand him, but the man tells the best stories and he because he knows everybody and he's super smart and he was sit there and on radio. So when you go on the radio, most of the time on the radio is the break, the the commercial breaks are super long and you'll talk for like two minutes and then you do like a eight minute break. And you know, so in the break, you're learning a lot. So I would listen and I wouldn't say a word. This man would just tell all these stories. He'd be like Chris Brown and Michael Jordan and Charles Barclay was at my house on Tuesday. And let me tell you what this nigga. So Chris grabbed the banana and threw it at Michael Jordan's head and Michael said, what you doing

10:22throwing bananas at my head? And I'll be like, really? Oh my god, what happened next? And he would just tell the best stories and he would tell James Brown stories all the time because if you remember, he used to hang out with James Brown. There's an old video of a 17 year old Al Sharpton on Soul Train. James Brown was like, we want to we want to do things for the youth to get ready for the future. And I want to bring out a young young teenager who's doing good things in the streets and and and I was like 17 and he's holding up his little plaque on Soul Train. He's like, he's like, he's like, I want to I want to make sure that the youth have a great future. And then it's it's it's a real stuff. You can look at a look of Al Sharpton Soul Train. I think he might have even had the little part of him, buddy. And I'm not sure. I'm sure that's probably the James Brown effect. But anyway, with that being said, enough of that, nothing to shenanigans, boys, get serious. All right. So here, let me let me let's go to Instagram because there's some financial stuff that I wanted to share with you on Instagram that I think is worth worth gandering at and and congrats to those youth whose names I mentioned. If I didn't mention your name, it ain't because

11:23you're not doing the damn thing. It's because if I kept mentioning everybody's name, we'd be talking all day. All right. So let's let's let's show you. I want to hear some things that just came to mind in terms of what's going on the economic front. I shared this on Instagram. Elon Musk, right? Elon Musk. It's really interesting because there are those who believe Elon Musk is a genius, which I don't doubt that he's he's very smart. He's he's also a little bit he honestly, he's a little neurodivergent like I am. So people like us, you know, don't make fun of us like we focus really, really hard. And they said his signal to noise ratio is really, really high, meaning that the signal like I need to be substance overflash like we need to really be getting something done is very, very high. Like one thing he does is he doesn't if you're in a meeting, he says if you're in a meeting and you get bored, you should just leave. If you have nothing to add, then get out and go do some work, right? And I was and I actually don't hate that. I think that's actually kind of productive. I like that. And I'm kind of like that too. And unfortunately, what happens is it comes off as rude, but really you sit in here and you're like, well, what are we doing? Like is this

12:25making progress? Show me where it's making progress. That's how I am. I'm like, if this isn't working, I don't want to do it. If it's not a solution for black people, I don't want to do it. Screaming at hollering and praying to Jesus and holding another march in a rally, I don't I need I need you to convince me. Show me, show me results, right? And that's one thing that we do in the black business schools. We have results. We show we can show where black the black wealth of families in the black business schools going up. We show we can show where investor participation rates have increased dramatically. Black people in the black business people, just people not just because there's people in the black business school, you don't have to be black. You all are in the stock market more than white people are. And the reason that that's a big deal is because the stock market is the number one wealth generator in the history of the world that when I when I was on the faculty of Syracuse and we studied who's rich and who's not who's struggling and who's not. Stop market participation was a tremendously powerful variable for who had wealth. If you are consistently put money in the stock market, like if you put the same amount of money in the market as you put into a card note or people spend on iPhones or whatever, the odds of you being rich

13:30probably go up 10 fold. So so I said to myself, so what's some little simple things we can do that will dramatically increase black wealth. I said, yeah, let's get everybody in the stock market. Let's instead of us sitting on the sidelines and marginalizing ourselves, you know, because I have never been a white person who told me I couldn't invest. I never had a white person who told me I couldn't read books and I've never been a white person who told me I couldn't prepare for my family. You know, as long as we get everybody in there on this boat, then here's what happens. They're not going to be able to sail away from you because you'll be on the same boat as they are. All the billionaires, all these people that were trained to be mad at and all these billionaires, they're just they're evil. These rocketing rich people, they're just they're just bad. Rather than doing that, we say, well, I'm not too mad at the rich people because when Jensen Wong's wealth went up by 20 billion, my wealth went up by 20,000. That's you can say that you're not going to have 20 billion dollars right away. One day we will, but not right away. But hey, if

14:31he's making money and you're making money because in video, the ship is tugging you along, then God bless all of you, right? And the people who sit to the side who don't participate, who think they're complaining as a solution, I don't know what to do for them. I don't know. I don't want to tell them that they're wrong. I'm like, yeah, some rich people are evil. Yeah, capitalism does suck sometimes, but what we're going to do about it. And in a lot of times, it's politics, it's political manipulation. It's like, I want you to become a socialist or communist like me or Marxist so we can sit there and grow and be angry about rich people, even though we all are so broken, so financially desperate that we got to go work for them. That's the thing that's always hilarious to me. I'm like, you up here protesting capitalism on Saturday and you got to go work for a capitalist on Monday because nobody ever taught you that financial security is essential for any form of activism, that a fundamental requirement for you to be able to use your voice and to fight the power is that you have to at least be able to pay your own bills.

15:34You learned that in your mama's house. When I was, remember that you may have a mama like that? I was like, this ain't right. You know, we show overcome. Listen, that's unfair. That's an injustice. Mama, that ain't right. And she'd be like, well, if you don't like it, you ain't got to live here. You could pay your own bills. I pay the bills in this house. And so therefore, me and your father make the rules. That was it. That was, that's to me common sense, honestly. I mean, I know people run that. Some people run their houses like democracies where they'll give the seven-year-old the same voting power as the father. I didn't go up in the house like that. God bless you if you do. You know, I mean, that's, I'm not judging you, but we didn't have that house. If you're seven years old and you got something to say, you sure you will be listened to, but you don't have the same power as your daddy. He's sitting at the head of the table. He's got the big piece of chicken because he busted his ass and he worked 12 hours that day to make sure all the bills were paid. So, so you're on his ship or her ship in the family, the parent ship. And until you get old enough to have your own ship, then your opinion only goes so far. And in America,

16:39it's really the same way, honestly. If you, on one hand, are complaining about somebody and then turning around and begging them for a job, I don't really know how you expect your activism to actually be taken seriously. I really don't know. I mean, you, you, you almost look like mighty mouths, whether kind of like mighty mouth, what was it or a scrappy do? Remember scrappy do the little tiny dog and he would want to fight everybody. And they would just laugh and like hold his head and he'd be like scrapping like this. You know, that's a two-legged, you look like scrappy do. Because scrappy do didn't have no real power. Scrappy do was cute. When you, when you, when you're trying to fight for justice and you can't even pay your own bills, everything you're doing, it looks adorable. They're like, oh, look at those little black people. They're so cute. They're holding another margin of rally today. That's so, that's so delightful. Just just make sure that you finish your rally before Monday and 9 a.m. because your black ass needs to show up at the factory, right? Like, and it's, and it sounds harsh to say it that way. I'm sorry if I hurt someone's

17:42feelings, but that's what I see. But you know, because I think I see that I follow the money and the money is connected to the power. And it, and here's the thing, you don't have to have enough money to control other people. I'm not saying that I want you to go be a billionaire so you can exploit people. What I'm saying is just get enough money, get enough resources to be able to pay your own bills. Because when you fight a system, it's hard to fight a system and live in the system at the same time. Sometimes you can, like there, and I get it, I hear people when they say, well, no, we got to fight from the inside. I'm like, okay, and I've seen people do that effectively. I have seen people, you know, say, hey, hey, I just got this job, they'll call me, I just got the job. I'm now the CEO of the blah, blah, blah corporation. And I want to do something good for black folks. What can I do? I get it. It can, it can work sometimes, right? Doesn't always work because the minister covers blown your gone. But sometimes it can, it can work. I'm not judging that. But I, I can't also say that you're probably just as if not more effective fighting a system. If you're

18:44on the outside and you have enough resources that you don't need whatever the system has to offer. Right? It's easier to fight the drug dealer if you're not a drug addict. Does that make sense? Like crack kids can't rebel against the drug dealer. It doesn't work. Because the minute the crack kids get to talking to crazy, then the drug dealer says, well, I'm going to cut off your supply of crack. The drug dealer is not threatened by the crack kid because the crack kid depends on the drug dealer. And, and in this case, I'm talking about financial crack. We are trained to be financial crack kids in this system. We are trained to be financial addicts. We are trained to have withdrawal. You ever see somebody lose their job in the withdrawal symptoms? Oh my god. I can't. Right? That's withdrawal to me. Why? Well, because money, your triggers don't put me in and it affects the same region of your brain. It's cocaine.

19:46I'm not making fun of anybody. So if I sound like I said something rude, just write it off to my neurodivergence. Don't make fun of disabled people. So I didn't mean to hurt your feelings, but that's really what it is. When you're addicted to a system and you're trying to fight the system, I don't even, I have no idea how you expect that to work because the first thing a system will do when you fight it is it's designed to spit you out. Capitalism has a my capitalism is one of the original forms of artificial intelligence. Capitalism says our number one job is to maximize shareholder wealth at the expense of all parties involved, even though a corporation has multiple stakeholders, you got customers, suppliers, employees, et cetera. No, we're maximizing shareholder wealth. Anybody who does not do that will be booted from the system. So you become the CEO and you're like, well, I don't want to maximize shareholder wealth. I want to fight the power because what you're doing ain't right. Well, and then your numbers come in and your share price drops

20:46and your stock growth is not occurring at the rate that investors expect and your revenue is high, but it's not growing at the growth rate that was written into the cap calculation, then they will boot you out. They fight, they don't fire CEOs for not making money. Every CEO of a Fortune 500 company makes billions of dollars every quarter. They don't fire you for not making money. That's a given. Of course, you're going to make money. They fire you for not growing the amount of money that you made. It's an incredibly unhealthy system. It's so unh, I'm not saying capitalism's always bad. I'm not saying that. I'm not a capitalist though. I talked to my buddy Trey Baker, Trey's also a guy. He went to Harvard and we talked about hour and a half. One thing Trey and I discussed is he said, people think commerce is the same as capitalism. He said, everybody thinks that because you advocate for black wealth, that you're advocating for black capitalism. And people do it to me all the time. They're like, yeah, I'm also a fan of black capitalism. I'm like,

21:47well, I don't know how because capitalism will kick you when you're asked, man. If you don't have some principles and some discipline and if you can't look at money in a multi-dimensional way, meaning if you don't have a triple bottom line, if you don't, if all you look at it to matter, is the money. If all, if you're only measuring stick of success, is how much money you made, then you might as well become BET. That's what I'm going to be. When I would battle BET years ago, I don't mess with him as much. I just feel sorry for them because they're owned by Donald Trump's best buddy. But years ago, I got a call from this guy. I forgot his name. I was kind of jealous him. He was on a good morning America. He had green eyes. All the girls liked him. I always had to work for a girlfriend. I bet this guy probably just women just probably just show up on his doorstep like the milkman or something. Anyway, his name was Tony's. I forgot his name, but he was on good morning America. And he's also at BET. He got caught up. But he could see, but that's the

22:52thing. I was telling these young guys, I'm like, yeah, you got all these girls, but you don't understand. You ain't old enough to know that that can get called you some trouble. And he got fired from a good morning America. Tell me if you know what I'm talking about. It was the today show because he had all the he had the white lady. He was dating the white lady and they got caught or something. And by him, say his name in the chat because I can't remember his name. Anyway, he called me one time when he was a BET. And he goes and I don't know how I got my number. He got my name. He said, I got your number from Don Limit. I was like, no, it's not Ed Gordon. It's not Ed Gordon. Ed Gordon's a wonderful guy, though. I so smart. I love it. I haven't talked to him in years, but I loved it. I still do. I still do. TJ Holmes. That's his name. TJ Holmes. TJ Holmes. So TJ calls and I had never talked to him before. And he goes, Don Limit gave me your number. I was like, wow, I didn't know Don had my number. I thought Don hated me. And he goes, he goes, you know, you wrote an article about BET and the stuff that we were doing. And he said, I was sitting in a meeting and we were talking about your article. He said, it was almost like you

23:53were inside the meeting. And I was like, really? And he said, yeah, he said, everything you said was exactly what was going on inside the company. And I think he worked for them at the time. So it was like one of those undercover slave conversations where it's like, we've been out, we've been out till a massive call. Masser going fine, John. We was going to get in the bond, right? It was like that. And I didn't blow his cover and I liked the guy. He was a really nice guy. And again, but I was kind of jealous because he had those green. My daddy had those green eyes. And he didn't yell, I don't know why. What y'all ladies got those green eyed Negroes, man. Get your regular dude like me. We treat our women well. Anyway, so no offense to the green eye being in the room. But anyway, so we were talking. And I remember I said, yeah, well, actually, if you understand how money and capitalism works, it's not a difficult calculation. It's not hard to see what, you know, to solve that BET equation because unfortunately, BET is in the precarious position of having to kind of put money over everything. And it is not

24:54even their choice. They have someone that owns them, someone that bigger that pays the bills. And what the dangerous thing, the dangerous thing that's happening is they're not just paying your bills, but they're trying to control your culture. They're claiming, claiming ownership of your culture. And you can't let anybody else own your culture. But if you, if money is the only thing that matters to you, then you're going to become a white supremacist because white men have all the money. Do you understand? So the best way to extract yourself or to override a system is to sort of elevate above it. They call this in mathematics as a term called orthogonality or orthogonality is where it's like, it's like you go from being a two dimensional creature to being a three dimensional creature, meaning like, like everybody's on the flat chess board and you somehow elevate. It's like when I started flying airplanes. And I remember how powerful I became, I felt I felt so powerful when I was able to fly over the traffic. And I looked down and I saw all these people stuck in purgatory on I 80 in Illinois. And it was bumper to bumper traffic. It was

26:009 a.m. And I said, whoa, Lord, man, if I was down there, it would be terrible. But I'm in an airplane. I have so many more degrees of freedom. There's that word freedom. Isn't it funny how the word freedom, but it just pops up when you talk about consciousness and spirituality and economics and how it all connects. So I had so many degrees of freedom. I could go left right up down. I could I didn't have to stay on the road, right? All these things. And guess what? You know what happened? You know what happened when I was in the airplane. I remember I flew from Jolie, Illinois to a little bit past Gary, Indiana. On that day at that time, that drive would have taken about an hour and 15 minutes. I got there in like 12 and a half minutes or something, 13 minutes because I just because I was orthogonal to the problem. I'd been able to elevate. I had this extra degree of multiple degrees of freedom now that I didn't have before. And that allowed me to get the problem solved in a much quicker way, right? So the same thing is true when it comes to

27:04economics here. Let's let me make this plain for you. A lot of the world operates in a way where they think that if you study economics, it always has to be about the money. It's the money, the money, the money, money over everything. Well, look at how much money we made. Yeah, stop that because when you're doing that, you're trapping yourself, you're trapping yourself in traffic. Everybody wants the green dollar bills. It's like trying to pick a boyfriend and all you want is you want to marry the man who's six feet tall and makes a lot of money. Well, so you're getting lined. There's like 80 women lined up for this guy. You're going to compete with all 80 of them. And so, and then you then you commodify yourself. I say, well, I'm going to be the prettiest. No, he meets a 10 pretty girls a day. Oh, I'm going to give him the best sex. No, there's a thousand girls and know how to do exactly what you're doing. You got to be or you got to go orthogonal to the problem. You got to say, well, you know, I'm going to compete on a dimension where nobody else lives. Instead of me trying to be the prettiest or at the best sex, I'm going to be the person that connects to his soul in a

28:07way that actually matters, or I'm going to look for the type of man that really connects to me in ways they go beyond just what he looks like and how much money he has. And so the same thing is true with economics. Everybody's competing for these worthless green pieces of the paper called dollar bills. And it's important to have those. That's an important part of your economic journey. But you will limit yourself. If you believe that black economics must always be about the money. If you believe that black economics is all about the money all the time, then you will lose because white men have probably 20 or 30 times more money than you do. And that's just going to be true for the next two or three hundred years. They got so much money they can print the shit. They ain't got to go get money. They just got to go turn on the printing press. Turn, turn, turn, and they got more money. How are you going to compete with that? So what you do is you find some other dimensions that you can compete on that are unique. You don't try to necessarily just survive in the system that's there. Maybe you create alternative

29:09systems. Maybe you say, yeah, yeah, money matters. But what also matters is how much I connect to my community, community impact. Right? That's another variable. Like, okay, now now I've got an advantage over the person who makes more money than me who is doing something toxic and harmful to the community. Another way to translate this would be you ever hear people talk about like a double bottom line or triple bottom line and all that really means you have you heard that? Let me give me a guess if you've heard people say that. Let me know. Give me a yes. Let me make sure you follow me because I know I'm wilding a little bit. You got to I've maybe just I ate a I ate a strawberry strutal protein bar. So maybe they drug my protein bar. That's why I'm talking crazy. I'm wilding out. Shout out to Nick Cannon. My wife was on Nick Cannon showed us weekend. He said he wants to have me on. I think that'd be fun. I'd love to go talk to Nick. But anyway, I talked to his dad. His dad is very smart, man. His father called me randling. We talked about reparations for an hour and then it never happened again. But anyway, so so so here's a deal. When you're talking about those double triple bottom lines, that gives you an advantage. And that doesn't just

30:12give you an advantage. It gives you a more meaningful, more conscientious agenda than simply getting into the rat race of thinking about who makes the most money. Because if you measure black success just on who has the most money, then we should all just be a bunch of sellouts. I mean, if you really want to make a lot of money, you know, if you're 20 year old daughter, it wants to be the richest girl on campus. Just you know, you know, what she can do to make that money. I'm not even gonna say it because that's inappropriate, right? But you got, but you know, right across the way I got there's thousands of young Spellman women and they're going to all make money. But but because they are carrying a certain flag and they have a double triple bottom line, they're not going to do anything for money because they know they're all money and good money. It's not money over everything. You can't just celebrate people because they have money. You have to say, well, what what's what's what are some other things that you brought to the table besides a couple extra dollar bills? And what did you give up to get those dollar bills? What's the trade

31:14off here? Right? So so this and when you start thinking like that, we that's that's financial consciousness, by the way, consciousness is elevations higher dimensional thinking that they'll hide the and mathematically and spiritually, I can prove to you that the higher your dimensionality goes, the closer you actually get to God, God lives in the sixth dimension. There's there's like five dimensions we can go to and then the sixth dimension. I don't know how to live in that dimension. But the five dimensions below that that that's that's get you closer to spirituality and God. And so what happens is is we have a community. This is where this is where we get in trouble when we have so much anti intellectualism, so much glorification of ignorance. Just we celebrate destructive behavior than what happens is is that you get low operational behavior and low dimensionality. You you get very primitive, very simple-minded kinds of conclusions, right? Like, oh, he must be successful because look at how much money he has. And if you if you do that, then you're going to lose the game. You're you're commodifying yourself. It's another way to look at it might be like this. If I'm

32:18selling a hamburger, I can't just say I want to sell the best hamburger and compete with all the hamburger places. Now what I do is I say, well, yeah, they all got hamburgers, but none of them has the Dr. Boyzburger, the Dr. Boyzburger is the smartest burger in in Atlanta. And so you go you get the McDonald's burger. Sure, those are good, but that's not a Dr. Boyzburger. Well, then guess what? I've carved a unique space for myself. I'm no longer a commodity. I don't have to compete by sort of chasing the lowest denominator or or think about dating, right? Like again, if you're if you're a guy and you're trying to just compete with it for a girl by just trying to have the most money or something simple, then you commodifying yourself. Then you're going to end up spending yourself into oblivion trying to impress this girl, but but you come with something that's uniquely yours, right? The way I connected with my wife was not by competing with all the men that were hitting on her by God. I could never win that competition. There were at there were literally basketball players six foot nine two hundred and forty pounds trying to haul it my wife. There were guys that guys that played for we were in Indiana. There was a guy to play for the

33:20Pacers who's like, Hey, you want to take a ride in my porch? You know, I'm like, I don't know how to compete with that, but guess what? They don't have that. No, no, no, one of the meagroes got a PhD in finance. Now one of those guys also values her. I think the way I did, you know, I got to know I literally I tell you this is me. I don't even know if I should be embarrassed even in contestants, but I kind of planted myself in the friend zone because I notice guys don't want to go on the friend zone. They want to go on the sex zone, but I learned a long time ago because I read books about women that actually sometimes if you play it right, you can access in the friend zone that the boyfriend doesn't even get that other men never get the sex zone gives you access to something special for sure, but I but I like the friend zone because I can I'm entering like kind of through the back door in a way, you know what I mean? Like I'm not going through the front door where everybody's trying to go through the front door. I found a window, right? And guess guess who really she she connected to the most when it came time for her to make certain life decisions or

34:21share certain secrets or whatever, right? She didn't treat me like a boyfriend, treat me like a friend and now I'm her husband and and it's it's awesome, right? And the bond is that much more meaningful than it would have been if I'd been like, man, look at that ass girl, that ass doe, right? You know, just know that doesn't that doesn't work in my opinion, right? But that's me. I'm going to stop talking about me because I probably sound stupid half the time, but but still I would say generally speaking, when you're talking about competing, here's what I'm going at. When you're competing economically, you have to figure out like, what do I have that my opponent does not have? What do I have that makes me unique? And here's the deal. Here's what's special about black people. When we do it, right? We have so many things about our culture, about who we are, our upbringing, our experience that make us so unique and so special and so amazing. And the problem with an obsession with integration and white acceptance is that it tempts you to throw away everything that you have that's unique

35:25so you can get into the rat race and turn yourself into a commodity. And when you become a commodity in the game of economics, you start to lose the game. Because in a space with commodities, I'm talking economic theory here, but I'm not going to get too complex with it. But basically there's theory that shows that once you come, once something becomes a commodity, then all you're competing on is price. All you're all you didn't at that point, all you can do is cheapen yourself more than everybody else so that you can find some way to just get in where you fit in. And even then your position is not secure. You have nothing unique, nothing original, nothing to add value. And I'll be down if somebody's going to tell me that some do nothing Negro who sits around getting high and drunk all day and feeds the black community destructive messages through music who glorifies the murder of black people is going to think that he's more relevant than I am just because white people gave you a record deal. No, we're not playing that game, sir. I'm not even you trying to get me on your basketball court.

36:28I'm not even playing on that court. You're going to come over here over here. We playing some field hockey or lacrosse. We're going to be doing something that works in my feet. We know I'm not playing that game, but you I'm not playing the whole who's the richest Negro game because because inherently I know I've got so many things that are tremendously valuable that you'll never have because all you want to do is be a thug gangster rapper who does the same thing. The 10,000 other Negroes have done to make money from white and Jewish people who will pay you to destroy your own people. We're not in the same arena, right? So, so realize the value of where you are. I realize the value of who you are. Right? And don't let nobody take that away from you. You know, Jesse Jackson, I love Jesse Jackson so much. He was such a wonderful man. And every time I met him, he was always respectful and kind and loved and just so nice. And he gave me one of my greatest compliments. I swear to God, he said, I never get what I was in the bathroom in 2011. And he goes, he was Dr. Boyz, if Dr. King was here, he'd be quoting you all over the place. I thought that

37:29that was how I look. Oh, my God. That's a good, that was back in the day. But besides that, though, his family is very nice to me. They're really nice. And and one thing he used to say all the time was he's to say, I am somebody, right? And and I really think that was such a powerful, I like simple solutions, simple things. And my interpretation of that means that you are somebody. Even if they don't want to hire you right away, you know, because maybe you're a little too black or whatever you are somebody, that means you have something to value right there where you stand. You ain't got to go nowhere to be valuable. You ain't got to go and get acknowledged and validated. You are somebody. You were somebody on the day you were born. You know, like, you know, so many of us, if you really tap into whatever your unique talent is and you're working hard to develop that and whatever your uniqueness is. And then you learn some economics. See, the reason you want to learn the economics is because when you see your value, then you'll know how to monetize the value. You'll know how you'll say, well, maybe you'll get to the point where you'll say, yeah, I would take

38:33the job, but I don't really want the job because I have so much value right here that I've observed in because I understand economics. I want to just monetize the value. I was hoping, Deon Sanders would see that honestly. I mean, I didn't mean to be critical of him because I like him. But when he went to Colorado, you know, I was like, dude, you're so valuable right here at Jackson State. You're winning championships. Everybody loves you. And they would love you if you lost every game of the year. And you have value like you can you ain't got to go to go to old cold ass, nasty ass Colorado to be worthy. I get it. I know they're going to pay you an insane amount of money right now. They're going to give you a tremendous amount of instant gratification and exposure. And I get that. But man, like do you understand where where economic power really comes from? Economic power does not come from borrowing power from somebody else. Economic power does not come from having proximity to someone else's infrastructure. If economic power comes from building your own infrastructure. When you build your own infrastructure,

39:34which people don't do it because it's hard, they don't do it because it takes time. They don't do it because it feels risky for sure. But when you build your own infrastructure, like say, a book or tea did when he built Tuskegee, you are developing something that will make you wealthy. But more importantly, it will make you powerful because you control the supply chains. You control, you are you're not connecting to the plug. You are the damn plug. You don't you don't want to connect to the plug. You want to be the plug. When you build infrastructure, you're not just making yourself wealthy and powerful. You're making others thousands of other people wealthy and powerful. You're not just developing a little bit of money and a little bit of success for you and your family. You're building an ecosystem. That's what makes Dango, Dango, Dango, and Nigeria so powerful. He built infrastructure. He could have easily continued right where he was where he would go, go to the plug, get the oil, refine the oil, whatever he did with it and make his little money.

40:35And he was doing okay to him and that he probably got him enough money to get a private jet. But do you know that when he made the investment to actually do all control the entire pipeline process and and and become the plug and then he goes public to public markets. Do you know his net worth quite a doubled in one day from 26 billion to 51 billion? He doesn't so he doesn't just have wealth is power. Those are two different things. There's a lot of wealthy people that have no power. There's lots of powerful people who don't have wealth. So that's what I wanted for D. And I was like, man, come on man like you mean to tell me that you can't make 20 million a year stand right there where you at. If you don't know what how to do it, like call me I'll tell you how your brand, your family's brand, Shadoor's brand, all that can make you an insane amount of money and how you can get those people to come to you. You ain't got to go chasing it. It can come right there to you. So anyway, let me before I move on, let me make a couple of announcements really quick. Don't forget the all

41:36black national convention. I think we're about 17 days away. If you want to join us, you can go to allblacknationalconvention.com. That's all blacknationalconvention.com. It's going to be a blast and we're going to be in Jersey City. I hope it's not flooded when we get there. You saw the I don't know if you all saw the floods on TV, but the weather was kind of wild in Jersey. So hopefully everything will be cool. I don't want you all having to kayak to the convention. But so we'll see we'll keep an eye on the weather. And the vendor passes us old out. The kids track is sold out. And what else? Something else is old. The hotel rooms are sold out. But we put extra hotel rooms we put a link to extra hotel rooms in the area on the site. And also we, what else does? Oh, general access and VIP tickets are available. President's Circle tickets, I think, are sold out. But VIP and general admission tickets are available. So and if you want to market your business, they were always open to that because just being quite transparent about this is so expensive to

42:38do these conventions. Hundreds of thousands of dollars. And it's very important that it's black own because we want to make sure we control the agenda all the time. And so when you guys step up and support or do something with the black business school that helps us get the job done. So for those of you, especially those you all to get that are rich and you looking for a purpose, I'd be more than happy to share my purpose with you. We can do this together. All right. So here's something I put this up earlier. I meant to share this. I want to share this now. I like this thing about predictions that Elon Musk got wrong because it's important to kind of know that you know that that so-called geniuses can be wrong too. Warren Buffett is wrong all the time. Elon Musk is wrong all the time. And what Elon Musk strength is is that he is smart in one area. Like he did do reusable rockets, which was very impressive. And but he also has a little bit of snake oil salesman and that's why he was able to get away with his IPO. So here's a few little fun

43:42predictions even I thought were kind of hilarious. One, he predicted that back in 2017 that a Tesla is going to drive coast to coast with no hands. And that's like when nine years ago and Tesla still can't drive coast to coast with no hands. Okay. Two, he predicted that that by 2020 we would have a million Robo Taxis on the road. Okay, 2020 was six years ago. We still don't have any Robo Taxis on the road from what I understand. Three, he predicted that by 2019 there would be 50,000 driverless trucks on the road. Sorry, in 2019 he said that there would be 50,000 trucks with no drivers on the road by 2023. Okay, 2023 last time I checked was a long time ago. So it ain't happened. Next, he predicted that a solar roof would cost less than a normal roof. He said that back in 2016. That's not true. You know, solar was still expensive. And then five, he predicted, this is hilarious. This is the funniest one. He predicted that people would be on Mars in the mid 2020s. Well, it can't nobody get to Mars. Ain't nobody got to have for that. So this just shows that you

44:44can all we can all make mistakes. And even the so-called captains of industry, a lot of the predictions are wrong. And so when he makes a prediction, take it with a grain of salt. Just know that it's probably not going to happen. But what's really interesting though is he's able to monetize these false predictions pretty well. People get all hyped up. And what he does, what he understands is he has enough emotional intelligence to know how to manipulate others by basically getting them to be emotional. Right? It's just like, it's just like, they'll tell you all the story about the Pimp. I saw the Pimp who basically talked about how they were ripped, ripped men off. And he said, he said, so what we would do if he said so the girl would get the trick. And she would give him vodka. But she wouldn't get no vodka. She would just drink some water. And she would have water. And he would have vodka. And they would go back in the VIP. And he'd be drinking all the vodka. And now it's illegal for her to swipe his credit card because she'd go to jail for that. So what she would do is she would get him the bill. And the bill would be $80. And they would put a $800 tip on

45:51the bill. And then she would hand the trick, the credit card because she can't swipe it because the aunt trying to go to jail. And he in the trick with what the credit card called the trick will be so drunk, he wouldn't know what he was doing. And that's how we would make money off these mad backers. And it was, and then what I saw though was I saw financial consciousness. I really did because when you're drunk, you're not conscious. You're not paying attention. And there's a reason why she drank the water. He drank the vodka. Remember the 10 crack commandments when they were like, don't get high on your own supply. Or you imagine like a movie where you have the nightclub owner who's running around and making sure everybody's having a good time. He's like, yeah, drink up, drink up. But he ain't drinking nothing because he's in the back counting his money. He's like, yeah, I want you to be drunk. I want you to be out here while and out. I'm not going to be while and out with you. I'll pretend to be while and out with you just to get you to wild out some more. So there's, there's the conscious person, the shark. And then there's the guppy, the fish.

46:52It was like, yeah, we're all getting drunk together. Let's all go waste my, it happens all the time. Casinos do it. Politicians do it. They love to get black people emotional and scared around election time. So, so just right on time, there's going to be some trigger that happens right before there'll be some shooting. Black people get shot every day, by the way, but there'll be one where they'll pick it out and they'll say, we're going to put this on CNN. So the black people get scared again. So they're all feel like they have to do what we tell them to do. Right? That's, that's what that happens. Like right, like clockwork, like every time there's an election, oh my god, we're all going to die. Right? So, so the goal is to get you to be emotional. Studies show that people, well, you know, when it comes to voting or spending money or just a lot of things, you know, giving, basically getting, um, giving up something that you have of value. People will let it go more when they are feeling emotional. It might be fear. It might be love or whatever. If you study how people like the tender swindler, like these guys online that they go and they trick women

47:53out of, you know, out of their money, there, there, there, there's a lot of emotional manipulation that occurs, but he's not emotional. He's very strategic. He's very focused and calculated and watching and he's like, okay, this was, you know, I, I knew this guy a long time ago and he, he was so, he was, he was a sociopath. Um, and he would just go, he was tall and handsome. So, so girls liked him because he, again, he, I think he was on green eyed knee girls too. And, but he might not have been green eyed. Maybe I'm making that up, but he was definitely tall in him. And so, you know, I would go places with him as a teenager and the girls would look up at him and would nobody look at me. And, and he would go places and girls would just fall on over him. And he knew exactly what to say. And he would, um, he would meet some girl, give her a whole story like a whole concoction, like just something just totally made up. And, but it'd be really an interesting story. Like, I was, I was, I spent 10 years with the Shaolin monks in Tibet. And then I went and joined the military. And after that, I became a

48:53computer scientist at the, at NASA. And we found aliens like, he would, he'd have these crazy stories. And these girls were like, Oh my God. Oh, really? Wow. That's so exciting. And then next thing, you know, of course, they'd be having sex. And then, but he'd be loved bombing, right? He would just, you know, like, I love you. You're the one. Oh my God. I've been waiting my whole life for you. And she'd get pregnant. And then he'd like get married to her like, like six, eight months later. And the whole time, she wouldn't even know his real name. Like she wouldn't even know his freaking real name. And then what would happen after about five, six months? It's the story would just start to unravel, you know? And, and it was, it was wild. I was like, wow, this is, what, so people really fall for this stuff. And that's the thing. Remember, I was telling you, the devil knows your desires and your deficiencies. Right? That's really important. You know, like, you know, when you, when you have too many, when your desires kind of get a grip on you and you have a fantasy or whatever, you know, like in people's spot, there are people who'll be like, yeah, I can get your fantasy. Like, like that's how people get involved in bad investing schemes.

49:55As they say, oh, you want to make a million dollars in two weeks with a $200 investment? I can do that for you, right? Just, or maybe give me $20,000. And I'll get you that million, right? So, so they lean into your desires. And the deficiencies are just insecurities you may have, right? Things that you maybe voyage from childhood. So that's why I think things like therapy are really important because I helped you confront your deficiencies in a healthy way so that you don't end up losing because of it. And then also maybe, you know, just being a little bit more realistic and trying to be as rational as you can, not chasing waterfalls because ultimately, when you do, you lose money. There are so many people who will promise you a perfect lie because you don't want to accept an imperfect reality. Like, like, making money, building wealth is really easy as long as you accept the fact that you probably won't be able to do it overnight. But if you really think that you're going to go and gamble and make $100,000 in two weeks,

50:56I can't help you. Not your guy. I'm not going to be as interesting as some guy on Twitter with a Lamborghini who says, hey, jumping my trading class dog and we're going to be trapping and trading and trapping and trapping and or trading and traveling. We're going to be traveling around the world girl. We're going to be on the beach with our laptops, making money, trading and that's exciting. I'm like, oh, that's how they so much fun. I'm not giving you my money. And they'll just give me $5,000 and I'm making all happening and then it doesn't happen. That's not investing. That's not how this thing works. It's warm buffet style, simple, consistent investing in solid assets over time. If you give it time, everything's easy. If you give it time, everything's easy. Like my, I have an aunt who's not here anymore and she was a math genius and she's to say, everything's easy if you study, everything's easy if you prepare. So wealth and investing in a number preparation, that's all it is. And if you want to know why so many people are struggling financially is because nobody taught them the importance of preparation. Nobody taught them that.

51:59Look, if you want to be good in 2029, you kind of have to start in 2024, 2025, 2026. Hey, it's hard to be good in 2026 when you started preparing in 2026. Right? So you look forward and you say, 2030 is important to me. I'm going to make sure I'm ready in 2030. What can I do right now? Oh, I know. If I put $400 a month in my brokerage account, according to Dr. Boyz, I'll have this much money most likely by that time. Maybe I'll get lucky and have more. Maybe I'll have less, but I'll be better off than I am right now. So let's go ahead and get a crack in. Let's go ahead. We're not going to try to conquer 2026. Maybe we've made mistakes. Maybe we're not where we want to be. Maybe we haven't done the right thing up until this point, but we're going to change that right now. And it becomes 2030 is coming just like 2026 guy here and you were living in 2022 and you thought it was over and 2026 creeps up on you. 2030 is going to creep up on you too. What you going to do? Where are you going to be at? What are you don't you dare end up in the same situation that you're in right now? We're not doing that now.

52:59We're not doing that anymore. Preparation. That's the key to success. That's all investing is a form of preparation. Now before I finish up, let me share with you. I have a new episode of the financial Godfather that just came out. If you go to my Instagram, which is Dr. Boyz finance, you can watch the old series, put the word Godfather under any comment and you can check it out. Also, I should mention to you, I do have a podcast on Spotify that I've two of them. One's called Dr. Boyz daily, where I try to do daily updates on the stock market. Sometimes I can't do every day, but I do a lot of regular daily regular updates at least several times a week. And then there's also the Dr. Boyz breakdown. And that's where I put some of the recordings from this class. I also put things from the ladies of fly newbie and money. The ladies of fly newbie money are super smart. There are some super smart black women that we partner with, Tierra Johnson, or Tierra Williams is kind of the leader of that and Dr. Leneja Vett and just Shalik Amilo, who's a real estate expert. And they do stuff about three times a week. So if you text the word

54:02Queens on your phone to the number 8, 7, 9, 4, 8, I just send you a link and you can check them out. But they're really smart and they have really important conversations. Ain't nobody in their twerkin, Ain't nobody in there being loud and obnoxious. It's just smart black women sharing smart ideas. And I think we should really support that. So they'll never be on the Zeus Network. In case you don't know the Zeus Network, the Zeus Network is where they have baddies and all the women fighting and all the other stuff that people want to see because they think black women are ratchet. These are like anti-ratchet black women. These are women that you'd love to have as your daughters, women that you'd love to marry, women that you'd love to have as your mama, women that you're proud of, the women that I grew up seeing. They remind me of my grandmother. So text the word Queens to the number 8, 7, 9, 4, 8. You can also go to flynubianmoney.com and check out what they're doing. All right. So here was a video I put up. This was important stuff. I just keep talking about this whole gambling epidemic. This is an attorney who's a really good attorney. He's on his way to prison

55:03because as smart as he was, he couldn't now smart as gambling addiction. And so he embezzled lots of money. And there's a guy. This guy here has a good channel where he talks to people who have been hit hard by that addiction. And he talks about how they got there and what happened because he too like myself is deeply concerned about the mass marketing of sports betting and what that's going to do. I'm not here. Again, I'm not here to tell you the sports that you can't ever bet on a game. I've been on games many, many times. I'm not here to judge. I'm just here to warn and just say be real careful. That stuff will sneak up on you and it will destroy you. It will eat you. It's a demon that will eat you from the inside out. And they're targeting young black men more than anybody. They want your blood, your son's future. They want to eat your son's future. They want to destroy his wealth. They want to make sure his family is not whole. In fact, they did a study where they actually Bank of America went inside the bank accounts of people and they found that people that have sports betting apps on their phones have far less money in their account than people who

56:06don't. I know it's complex. I know people do it. My guys at Morehouse, I can already tell. I can look at them like, yeah, I'm happy. I'm probably gambling. Just let me be the little gymini cricket. You know, Jimny cricket. Let your conscience be a guy. I'm going to be the little Jimny cricket, the little hater in your ear to just remind you so that when life's consequences show up, you'll be like, damn, I remember what Dr. Boy said because gambling just scares the hell out of me in terms of what's going to do these young men. And I hate the fact that they're targeting young black men. I wish these celebrities would stop doing that. But anyway, moving on. This was interesting. I saw this. This was Zion Williamson. If you don't basketball, you'll know Zion Williamson is a freaking freak of nature. He's like built like a tank and he can jump like a rabbit. He's really, really a powerful player. And but he likes ladies. He likes women. And he's got to probably lose $100 million by time his career is over because of just women issues. And I know late, the most recent situations, he got an allegation of sexual assault. And of course, he's denying it. And of course, she's saying that it happened. And of course, no one knows

57:09it. I mean, I like to see evidence and things like that. But at the very least, he's going to lose a lot of money because this is probably the third or fourth time I've seen some shenanigans with women that that have taken his wealth. And this is just something to really think about in terms of wealth protection. If you have a culture that's not wealth preserving around you in terms of your behavior and your choices and the situation you put yourself in, then your wealth is going to be in jeopardy. It's as old as time that a man sleeps around with a lot of women and then you know, you get an allegation and I'm not saying that they're fake. I'm not saying they're false. I'm not saying that at all. I don't know what happened. But I do know that I've seen scenarios where people will make an accusation just so they can get a payout. So they'll sue you for 20, 30 million, you know, shed a few tears on TV. And then they're waiting for you to settle for maybe 3, 4, 5 million. I'd never forget when I, when Lawrence Taylor, who's a great athlete, but he was notorious for drug use and woman, he loved, he loved the ladies and all that. And this is after he retired. And I

58:12someone asked me my editor at all at a well black voices. She asked me to write an article about something that happened with him and an underaged prostitute. So this 16 year old girl who had a pimping everything. She was, you know, on TV, she had Gloria Allred, who's a very prominent attorney next door and she's crying and saying, this is what he did to me. This was terrible. So I just wrote about the facts. I just wrote like what, what was there and just shared it. I just, and from a factual standpoint, and I got this email that was really long and it was like a bunch of broken run-on sentences. Like it was like an angry person who, who probably failed English class, like I did. And she's like, I know these holes and I know they'd be lying and they'd be blah blah blah. And it was, it was so fast. And I was like, oh, Lord, like, she's mad. And I'm trying to read every other word. I'm trying to understand what she's saying. And she put her phone number in there and something told me, boys, give her a call. Just call her and just see what she got to say. And I called this lady. It was 2009. And I called this lady and she gave me the most

59:16fascinating story about this whole underworld of people who pretty much plight who used financial consciousness to exploit and extort athletes. Now again, this is not let every athlete off the hook at all, right? We hope we're, some more, tell me if you'll understand. I'm not saying everybody's lying. Can we just make sure we say that because so poor people say, well, Dr. Boyz is saying they be lying. No, I'm not saying that. I'm saying sometimes people lie. I'm saying sometimes people lie. The money will tempt people to lie. That when a liar can get more money for lying, then liars going lie, right? So there's a, there was a whole thing where I'm listening and she was basically telling me this really fascinating story about this whole underworld that I didn't know existed. And in my thought too was like, well, how do you know all this? Because she knew the girls. She's like, yeah, there's a ring of girls. And once 15, 116 and once 19 and the 19 year old is the ring leader. And they study the athletes, financial consciousness, they study the athletes and the rappers

1:00:16when they come to town, they learn what they like to drink, what they like to talk about that they, oh, he has a reputation of chasing women. Did they, they know that? They know that, right? Because they're like, okay, we get, we get, we look cute in front of him. He's going to do whatever we want. And, and my, my question was like, well, how do you know so much? Like, are you, are you in the group and she told me she goes, I'm a butt doctor. I work with a butt doctor. I say, what? She said a butt doctor. And I said, what do you, what a butt doctor? And she, so there was a butt doctor. This was, this was really crazy. The butt doctor would come from Brazil and inject the strippers, booties with whatever substance. Maybe it's like, jello pudding or something. Like, I don't know the illegal sorcerers. So they will pop up with these big old stuff. I don't imagine like jello. Anyway, so let me stop. All right, shout out to Magic City. I'm not going there anymore, but I went, I had to go there one time for a batch of parties. Quite fascinating.

1:01:17Strippers are very athletic. That's one thing I remember noticing. But anyway, so, so the, the butt doctor would come in and she was set up the appointments with the girls that wanted the injection, right? That's what that was her. So she said that she got to know the girls because she was thinking, oh, these are cute little girls, black girls that need mentorship. That's how she got to know them. And she said, yeah, she says so the 19 year old, the oldest one, I let her come stay with me because she didn't have a place to stay and she looked adorable. And she goes and when she was in my house, she was sitting there trying to sleep with my husband. So she's like, I put her out. And so she, during that time she got to know the girl and she said that the girl would do little things like, she had a boyfriend that was in prison. He was the kingpin. And the boyfriend would call her and he would have somebody he wanted to take out. They call them the ops, right? So he had, he would have an opponent somebody he didn't like. And he would say, he's going to be at the barber shop at this time. I want you to go in there and look cute. Lower him back to the hotel room so we can go in there and we can kill him. And that was the stuff they would do. And here's what she said,

1:02:22she's what she claimed they did with with with Laurence Taylor. And this is all about financial consciousness. This is where I'm going instead of me just this is not me just telling random stories. This is all about financial consciousness. So they would go and they didn't find a guy who likes, you know, the fast women or whatever. And the guys would think that they're being safe. They say, well, let me see your ID. You don't look 18. Well, fake IDs are easy to make. So they will say, here I am. I'm 18. See, look at my ID, right? But that's all a lot. And it would be the oldest one anyway that would lure them in. And she was 19. So they would take, they would go back to the room and it would be him and the girl, the 19 year old. And then they would drug his drink. Like date rape drugs are not just used by men date rape drugs can be used by women. Cardi B. Actually talked about that. She said they did that. I mean, I don't know why people think women can't be can't harm people like that. It can happen. So so they would drug the man. He would go, he would go to say he'd be knocked out for hours. During that time, they would put the 15 year old in the bed with him and take pictures. Right. And then they he'd wake up and like, what's

1:03:26going on? And of course, his money would be gone and all that. But then they would say, we have pictures of you with a 15 year old in the bed with you. If you don't give us, but it was, it was like low level extortion. Like they want it like $10,000. I kid. This is I'm not sure tell you the whole story. So their goal, their dream was that they wanted to go to California and become like adult film stars. Like that was their big dream. Like see, we got to work with the babies because this is just sad, right? That but their dream was like, we're going to get enough money. We're going to go to California. And we're going to like star in these movies. And and so, and so in the meantime, they were making money through sex. In fact, she even said that that some of the that one of them went to the clinic to get tested for HIV. And they asked about her sexual history. How many men have you slept with? And she's like, yeah, slept with eight men today. And I did you use protection? No. And so it was so bad. The CDC told them, do not leave your house until we come back. You'd need to stay in your house. We're quarantining. And they did they ignored it. They did. Of course. So this is so there's a spike in STDs, by the way. So

1:04:30more than your kids about this stuff, because people don't talk about it. So anyway, she, so so they would so so the way the girl ended up on TV with glory, according to this lady is they told the athlete, give us $10,000 or we're going to send these pictures to your team, your the media and your wife. Right? And that was how they would make their money. That was their thing. And that was their whole financial that was when financial consciousness can be used in a in a predatory way, right? Where again, the devil targets your desires and your deficiencies. So you have an athlete. His desire is fast women because he's part of hip-hop culture and he thinks that you're supposed to sleep with everything that moves, right? And his deficiency might be that he's not thinking carefully. He's he's maybe he's drunk. Maybe he's not maybe he doesn't want to be a thinker. He doesn't want to process things strategically. And that's how you acquire his wealth happens all the time. There's a million examples I can give you, but that was one that really stuck with me. And I do believe the lady because the lady spoke with

1:05:33clarity and conviction and she just talked it was two hours I heard just talking. I'm just listening. I'm like, oh my god. Wow. Wow. You know, so so just warn your sons about this stuff. So like Zine Williamson again, I don't know what happened with him. For all I know, he could have done it. I don't know. I'm not judging, but I think proof is important. But I can just say that, you know, when you're sitting, this man has a quarter of a billion dollars contract, well, you're sitting a quarter of a billion dollars? I mean, I wish I could help men like him understand how much generational wealth that is a quarter of a billion dollars is not a quarter of a billion dollars. By the way, a quarter of a billion dollars is not a quarter million dollars a quarter of a billion dollars is about five billion dollars in generational wealth. Do you understand that when you understand how money grows. Like the quarter of a billion dollars is the seed. The seed is always much smaller than the actual tree. If you let the tree grow and you don't mess with it, you plant the seed and you let it grow, unencumbered, the tree will always be a thousand times bigger than the seed. So

1:06:33quarter of a billion dollars is not, that's nothing actually relative to the amount of money that his family that the community could have. If it were put in the hands of someone who understands one of the most fundamental rules of wealth that there is, one of the most fundamental rules of wealth and money is that capital must always be preserved. And also capital must be put to its best available use. That's a rule, that's a rule of finance. That's financial theory. So when you're tricking it off and throwing it away and wasting that money and dropping the ball and dropping the bag, that's like, that's almost like a basketball player where every time you give him the ball, he throws it out of bounds. Every time he has a chance to score, he puts it in the other team's basket. That would be a terrible basketball player. So he might be great in the game of basketball, but what happens is unfortunately we don't push our men and our young women on how to play the game of wealth. In the game of wealth, you don't give away the damn ball. You don't put the ball in the opponent's basket. You're not playing for the other team. You got to figure out what

1:07:37freaking team you play for. And the same discipline it takes to be a great basketball player, it's the same discipline it takes to be a great investor. I don't understand for the life of me while we have so many people who can be hyper disciplined when it comes to sports, but I have no discipline when it comes to life. Sports is important, sports is fun, but sports is not life. How in the hell are you disciplined in sports, but you ain't disciplined in life? The real game that you're playing is the game of systematic racism. The game of black survival in America, the game of trying to lead your family out of the abyss and avoid all the traps that accept for you. So you're winning the little game, but you're losing the big game. You know, and it makes me really sad to see that because it's cultural. It's cultural. So let me show you something. I told you I showed you the last episode of the financial godfather. So let's wait, I think did we see the one with the deal is dead? Tell me, give me a guess if you saw that one. If you if we saw this one, then there's another one I actually released today. Did you all see this

1:08:40one where the deal was dead? This is what we can end on. You said, okay, I see yes, and I see no. Okay, how about this? I'm just going to play both. All right. So this is where we found out that there's a traitor in the deal and there's a little bit we're going to learn a little bit today too, but hopefully we get entertainment too. And by the way, a lot of you all seem to like it. So we're going to keep doing more stuff like this. And I love it. I've always wanted to like make short films and movies and we've done that and there's no better time to do it than now. So here we go. You were never the only deal. What does that mean? You completed your part. The deal is dead. No. You were asked to leave. Tell him I need five minutes. I thought we finished. We didn't. You've got a lot of nerve coming back. Who? The investors. What other deal? I don't know, but they never needed me to get your signature. Marcus, read everything. 400 million purchase price. Development rights. Board observer rights. Stop. Board observer. They said it was standard. Never tell

1:09:45me what somebody said. Tell me what they wrote. They also get approval rights over certain major transactions. Influence. There's something else. The buyer isn't the investor we met. The agreement lists Meridian Development Partners. Never heard of them. Neither have I. You negotiated a $400 million transaction and didn't know who the buyer was. I knew the people representing them. That's not what I asked. Who owns Meridian? Meridian is owned by another LLC. That company is owned by an investment partnership and that partnership is controlled by a private holding company. I don't know if to make you stop asking who's writing the check. That's why due diligence doesn't stop at the offer. You follow the money until you find the person controlling it. I found the beneficial owner. Who is it? Dr. Boyce? The same investment group that offered us the $350 million. The offer. They offered to rescue the operating company while another entity quietly negotiated for the land. They were buying us from both sides. They were trying to. Sir, we have company. Dr. Boyce, you know me. Everybody involved in this transaction knows you. Then you know I'm not signing. I didn't come for your signature.

1:10:51All right. So somebody came by and he didn't come for our signature. What did he come for? Let's see. Let's dig into this. This is where they're negotiating this deal and issues of due diligence and things like that come up. By the way, I should mention Jen. I don't know if Jen is here today, but Jen is going to. She's a really extraordinary educator. She's home schooling. Lots of kids in California. She's super dedicated to the community. So she's going to be speaking at the 2026 All Black National Convention. One of the most important things in my view is that we identify, you know, what I call the Marver Collins is of our community. If you know Marver Collins, she was the woman who started educating black kids because she saw that the public schools weren't doing it properly. Jen is is a modern day Marver Collins, right? So basically she's going to be there breaking down what she's doing and how she's doing it. And so if your goal is to get something done and get kids ready and contribute, Jen is a person that you want to meet. And so she'll not just

1:11:56be speaking, but you'll talk to her at the convention as well. And so if you haven't gotten your passes, we're going to be in New Jersey, the weekend of October 16th. And it's going to be all black national convention dot com to get your pass all black national convention dot com. So I should mention that. All right. So let's go to this last episode. This is something on Salana crypto. You can check that out on the page. Oh, and I put a clip on Dr. Claude Anderson. I'm going to share this next time because we're kind of over time today. But Dr. Anderson, this is a great clip about how the slaves were when they were when they were so called free, but they were financially desperate. And they were made to be financially desperate because the system made them that way, many of the slaves actually went back to the plantation to beg their masters to take them back in. They went back into slavery because they didn't have what they needed. Well, a lot of times what happens is I think that we end up selling our children in slavery because we leave them in financial desperation. So a financially desperate person who claims to be free is probably lying to themselves because freedom in this society tends to come with some sort of economic stability and economic

1:13:02sovereignty. But you can check that out on the site. Let's let's watch the next episode. Okay. So here we go. Let's see why why he came. He didn't come for the signature. What did he come for? Who do you want? This guy kind of looks like TI a little bit. By the way, shout out to TI. I I've heard his kids actually have our financial flashcards. So so even even the rappers are getting in on the deal with what we're doing in the in the wealth space. So I think it's very important. And I think he look he seems like a guy that loves his family. So God bless him for that. So here we go. I didn't come for your signature. Then why are you here? To show you phase two. Marcus, they don't need to buy the land. What? They want minority interests in several family entities. Board representation, consent rights, future purchase options. You don't need 51% on day one. Control isn't always about percentages. Finally, something honest. Let's see what control actually costs. Suppose you own 40% family owned 60. Family still controls it. Maybe. Now give the

1:14:03investor board seats, veto rights, purchase options. Who has influence now? The percentage didn't change, but the power did. Never study ownership percentage alone. Study the rights attached to it. Now let's talk about what you actually came here to buy. You weren't buying an old factory. You were buying location, development potential. Exactly. You knew this land could become worth far more than 400 million. How much more? Enough for them to spend months trying to convince us to sell it. They played me. You played yourself when you stopped asking questions. So what's your answer? You came here expecting yes or no. That's generally how offers work. Not this one. The land isn't for sale. The family's control isn't for sale. But if your investor is want to finance development without owning the legacy, then sit down. You're countering? I'm negotiating. Where do we start? With due diligence, full ownership disclosure. Every entity, every beneficial owner, every side agreement. That's going to take time. Good. 400 million should take time. Never fall in love with the money

1:15:04before you know who's really offering it. Problem? My principal wants to speak with you. Then tell him to come himself. It's not a him. You already know her. Hello. Wait. Did you all catch that? So somebody's behind the deal and we don't know who that is. So we're going to find out next time. Who this principal is. This mysterious woman. I'm curious. Myself. So anyway, if you want to watch the whole series, you can go to financial.father.com. It's up there. And it's also on my YouTube channel. There's like a little channel or a little show sequence there. But the the let's see, when they're first released, we put them up in financial.father.com first. So you can go check it out there. And I think it's a great learning tool. I play it for the guys in more house and they really like it. So we're going to keep doing it because why don't I have fun while we're learning economics? Right. So really quickly, a couple things. One, if you want to go and take a look at the recording from the black retirement summit, you can go to blackretirementsemit.com.

1:16:11All the slides, all the recordings, all the tools are there. I can leave it have something. The retirement command center where you can punch in information about your situation. And it'll tell you how much money you need to have, how long you have to get there, how much in payments you should make now to get to that number. What that's going to look like after retirement, how to get rid of the debt, stuff like that. So feel free to go to blackretirementsemit.com. Also just as an FYI, in the spring, we're going to go to Tanzania. So pretty soon, I'll announce that you can go ahead and make a deposit. If you want to join us in Tanzania, we're doing Africa trips every year. I want to go to Africa two or three times a year actually because I think Africa is a really important part of our long-term mission. We got to reconnect with our continent. And allbleightnationalconvention.com is the URL for the conference, which starts in, I guess, shoot, gosh, 16 days now or so, 18, 17 days. So feel free to go. It's in Jersey City, allbleightnationalconvention.com. And also, the passes for the next convention. I'll make those available early so that if you missed out or

1:17:15something got sold out that you want in, you'll have first dibs at that and we'll give you a nice discount because what it does is when we bring in the money earlier, we're able to then put that money toward getting ready for the next year. So it's a win-win. So that's why we give you a good deal. You go ahead and get your pass early and then you're locked in and we're able to go make moves and we're all working together helping each other out. Sound good? Hope that's a good deal. Hope that works for you. Alright, so anyway, God bless you. Have a great day everybody and I look forward to seeing you all tomorrow and take care. I'll see you soon. Bye-bye.