Hey guys, welcome to Group Chat. It's our new middle of the week episode where we soar you off
into the weekend, informed, hopefully with some laughs. As of lately, maybe you want to pick
aside, you know, things have gotten a little polarized down here at Group Chat.
But either way, you're going to be well equipped to finish your week strong
and soar into the weekend. We have lots of news to talk about.
There's a big golf weekend that is affecting us here in LA because there's a massive tournament
here in LA. So we're going to talk about that. On and it's going to go check it out. I might go
to, but we can count on on and for the in the field journalism. Like I said, we have a lot of news
to cover and then we have our winners, losers, and our content recommendations for the weekend. So
we got a hot episode. And I want to shout out the Group Chat team, our socials on fire,
our content millions, millions, millions, millions, millions of people have seen our content
of cross-platforms. So shout out to the team. Shout out Cameron. He's been putting in a lot of
hard work. Shout out Cameron. Yeah, shout out to the whole team. It feels like Group Chat is in a
real good, you know, we got some real good momentum right now. So shout out to all the listeners,
shout out to the team. Shout out, shout out, shout out. You guys ready? Let's go. Yep, let's do it.
Hey guys, I have some good feedback and some really great news.
You know, it kind of shocks me how engaged my parents are into Group Chat and we got some good
feedback from my mom. She said people must be loving the podcast lately. For some, I asked her why.
She said we all feel very in sync. We feel like we're having some good fun. She finds herself
laughing out loud. I've seen our social media numbers are up. We're hot on TikTok again. China
has let us out of purgatory. We are on fire. So ladies and gentlemen, we are back to being the
number one podcast in the world. Thanks for sticking with us. You're leaving out one important part.
What? What is mom said about me? That you know, that was it. I think that was it. She said,
Hey, Trama's mom said, stop picking on on it. Oh, wow. She sees it in her own backyard. They see
the woke get beat up. Yeah, they're like, we don't want that to happen to you. It's a total
on and see what they do down here. I'm standing up to you two bullies. I'm fighting the good fight.
I understand. You've been rallying your troops around us. You've been
and you know, uh, drama's mom first sticking up for me. Yeah. She's coming back trying times.
I understand. And I hope if nothing else, we can serve as an example to America that you can
disagree and you can have fun arguments and you can still be buddies and not only that,
you can make some great content out of it. So we're going to keep on going.
Yeah. Keep it going. Okay. Uh, we got an exciting weekend. It's starting to gear up. I've been
watching actually today all the prep and all the talk about it. Uh, LACC is hosting the US Open
this year. That's LA Country Club. Um, it's hot. It's all anyone's talking about. I saw on
it and our other friend Brian, you know, going back and forth in the chat last night about what time
they're going, where they're going to meet up. Do they have to tuck their shirts in?
Did the irony of Onan's woke is him. He's going to the most right thing you could ever go to,
which is the LACC US Open. Well, the rules of change. That's the most right thing in LA, probably.
And by force of change, there's nothing more. No rules of change. It's the same people.
You can't wearing my group chat podcast episode. Sure. You can wear whatever you want. I'm just saying.
I'm just saying that, you know, you're going into lion's den of everyone who disagrees with
everything you believe. Yeah. Oh, maybe. Maybe LACC. Well, no, this is a private tournament.
I bet you if we did a survey of golf fans, we'll know how they land. I know a lot of people going
they don't lean the way you would think. This is actually, I think I was actually the number of
people that are going to this event. It almost feels like, well, it's a big tournament, right?
It's a big tournament, but the fact that it's in LA because normally it's in like the outskirts of
cities. Yeah. Also golf is hotter than it's ever been, you know. I think I have to do with that.
So in LA, if you're 35 plus male, it's like Coachella for white males. No, I know a lot of
people going Indians are white males. Sure. But they have a lot of the same interests.
My point is it feels like a cultural event that LA has often, but this feels like one
because I've never been texted more about I've been invited a lot and I'm only going Friday. Yeah.
And it's like people from all parts of my life are like, hey, do you want to go this day? Do you
want to go? Everyone in finance is here because I've had a lot of meetings with people in finance
and they're all here. I'm like, why are you in town? I'm like, oh, USA. Yeah. That's a testament to
our whole point, though, man. This could have happened pre-COVID five years ago. And it would not
have felt like this. Like golf is so hot. You know what's funny is I was just watching all the
lead up and they had the, well, I guess I don't know who these fellows were, but maybe they were in
charge of the golf association or whatever because they were talking about regulations and getting
ready for the course, but they asked them. They said something about this is the, there's no black
players. I don't know if it's the first time in a long time. I don't know what, but there's no black
players on the line up this weekend. They're like, hey, doesn't it seem like we're kind of going
backwards? Doesn't it seem like maybe we missed the boat on Tiger? You know, we had this whole Tiger
thing and nothing really changes. It was a really interesting like, you know, these guys are sitting
up there doing a media day. Golf is golf. It's just who it attracts. It's too fucking expensive,
right? Like it's really alienating to it's expensive, but I think that the culture is alienating.
Yeah, the culture is intimidating. Yeah, and I think if you're, you know, I don't know if you
I think it's the same thing. If you're a young minority in like, you're very athletic,
it's way cooler to play basketball or football. It's true, but there's so many people that know
that that's not going to be their thing. Look, I got to say, like when I started golfing two years
ago, even me being all the places that I've been and all the shit, all the weird environments,
I felt intimidated. Like, there's all these things like, like, sort of rules or like golf,
you know, customs or how long you're supposed to look for your ball if you lose it or how long
you're supposed to who drives first? Who does that? Like, there's so many rules. And you know,
after a couple of times, I realized it was all just a joke and I stopped caring, but I still get,
you know, if you think of your young kid, would you rather be brony or whoever the number one
PGA golfer is? That's a junior. Well, that's just a marketing issue. That's going to change.
But I think you see like schoolboy Q and DJ Khaled and you're like, oh, this is sick now.
I want to do this. I just think it's intimidating. If you show up to a basketball court or
you know, a baseball field or whatever, there's not, it's intimidating. You feel, you have to kind
of get through the bubble of like, I don't belong here. I felt that. And yeah, yeah, that makes
sense. And I think it's also a cultural thing because, look, the best athletes are from inner
city communities. There's no golf courses in inner city communities. Yeah. Yeah. So how can you
even extract the talent from there? Yeah. You know what else is really interesting is like,
I was just talking to my family and, you know, where I'm from, there's a really famous golf course,
Firestone Country Club and they, they do PGA events there and stuff or they used to, I don't know,
but Firestone Country Club apparently, if I'm wrong, blame my cousin, but just opened a,
like essentially their own, like a top golf. It's like, you go there, you hit balls, you serve
drinks, whatever, but they own it. So even though they're this really uptight, you know,
Country Club that nobody can get into, that's a way that they're introducing golf into,
you know, maybe areas where the real estate is too expensive to have a golf course or maybe
it's a little bit, like it's a way to introduce people to golf. I thought that was really interesting.
So speaking of Ohio, did you, are you aware of the Murafield course in Dublin, Ohio? No.
Apparently, that's the course you got to get to drama Europe from Ohio,
you're in Ohio celebrity. That's a hot course. Yeah, I know,
brew who you played with at Bel Air has a big like fancy golf trip to Dublin, Ohio.
Okay, well, I'm overall this golf talk. Okay, let's get into golf. Stupid. It's still stupid.
It's a game. It's not a sport. I think D's mad even get invite to the open this week. I got
plenty. I get with the time. You know what I do for a living. Of course, people are going to
invite me. Why would I go? Everyone's going to be there. That's why everyone's everywhere.
They're going to be, they're going to everyone's going to be the same restaurants. I think you're
going to have to do something. Don't care about what's being played on the course. I'm unfortunately
traveling next week and I do not want to not either be at the office or spend time with the kids.
That is my rationale for not wanting to go. I want to make a prediction that in five years,
you'll both have golf from a that you didn't embrace it. I mean, I enjoyed playing golf as
I know what you should be out of the course. There's just no time. I want to do it. You know
me think that maybe you get an exit. Maybe you get a who knows? Maybe put it in your seat.
If I got an exit, if I got an exit, then you're old and stiff and you got a whack-ass swing.
No, DJ Kowla. I feel great. I feel great out. I feel fantastic.
Do you feel like the outside looking in, that's where he wanted to move on?
No, just I get the problem is 99% of the people listening don't fucking care about golf.
It's a big culture. It's for you. For your bubble. It's big. It's not big for most people.
We're trying to put them on to the future anyway. Okay, and we did. We did it. Justus.
Let me tell you what everyone does care about. Yes.
I could tell you. He's feisty. He's feisty. Inflation, the stock market,
interest rates. I mean, we are back. I don't know what else to say. I mean,
this is we inflation numbers came in. They're down. We are not raising interest rates.
Stock markets on fire. I mean, let's just the good times are back. I don't know what else to say.
I know there's two economies right now, but the first one is on fire.
So basically yesterday, they priced in that there was going to be a pause today,
which they didn't raise rates. He's got two 25 bips in his back pocket that he openly said that
he's willing to use. So another 50 days away. Give it to those bips.
And he pointed out that he's not cutting rates till 2025. That's a lie.
I think it's a lie as well. I think there's some presidential pressure. Wait till there's some
hey, we need to get this train all over again. What comes back in office? He's cutting rates every
five seconds. So what I think is actually, which is which is problematic is that commercial
real estate is zero for the foreseeable future with rates at this rate. Regional banks are going
to continue to fail. They have to because if the if these real estate projects fail, most of these
real estate projects are funded by regional banks. I sent a link in the discord 50%
vacancy in New York real estate office, which is good compared to where it was.
Right. But that those are unsustainable businesses at the debt levels that everyone has
incurred. So I mean, he's willing to just crater industry by industry. Yeah. And that was
I actually turned on CNBC right when they were announcing. And Steve Liesman, his like,
you know, commentator's been there for like 50 years. He basically said like
he hasn't seen Jerome Powell acknowledge the pain yet. And until he sees because they were saying
until he sees something breaks, he's not going to change course. And then all the other talking
heads were like regional banks failed because that's not the pain he wants to see. He wants to see
what JP Morgan feel. I don't think it's not selling banks. I think he wants to see unemployment
increase. I think he wants to see five six percent unemployment. And but don't you think it's so
backwards the way the logic is because if the economy is working today at these inflation rates
and people are able to have jobs, put food on their table, travel, do normal life stuff. And he's
he doesn't he's only looking at one singular indicator. Yeah. So so I think what he is concerned
about is historical context of high high inflation levels does hurt the economy. So he's looking
a little further out, not just present day. And the interesting thing about the Fed that they did say
is you know, when they did their kind of count of all the different Fed governors, a lot of them do
want two more hikes. Like they are indicating we're willing to pause unless data changes. We're
very comfortable hiking in July and August. The other thing they did say though is they expect
moderate growth for the second half of the year. They're not expecting the economy to contract.
So that's my point. So maybe you have to actually rethink your framework. Well, I think that
this inflation is okay. That 4% we can live with if the economy can still grow because if the economy
is still growing, that means consumers are spending. Yeah. They're spending out of control right now.
And unemployment. Like why do we want to make people unemployed? That's what you just
like for America. I can't you get there in like five years. Of course you can't. Can't you like
do it subtly and be okay with it? Like I'm saying, and then five years from now, everything's
good. Why do we have a break thing? Logically, I think logically that makes sense. But
any period in American history of high inflation levels have resulted in a lot of bad consequences.
So my counter to that is basically I would throw out history out the window as we know the data
in the 80s. How can it be accurate? Yeah. There's no chance. Yeah. What were they
tracking? It's not accurate now. It's not accurate now. So let's just look at what is actually
happening in the world. People are employed. People are spending. People are going out. People are
traveling. I will give you a real time. And that's why I think all these like institutions are
out to lunch because pay attention to what's happening. Not what you're like little calculator says
what happens if this than this. If inflation high raise rates. I think generally in America
from an economic standpoint, people are generally happy of where they're at. I don't think so.
I think look, student loan payments kick back in the fall. Yeah. That's supposedly $15
billion a month. That's going to get sucked out of there. Or they were happy 18 months ago.
Sorry. I think I think if you went and pulled the
average American, there's, you could tell if I spend at retail spend,
household essentials are fine. Discretionary spend is down. It is hurt. What's discretionary
spend? You're not buying that basketball hoop for your backyard. Home improvement. So is that
good? All right. I mean, it's not good for those businesses. That's where I kind of want to
but like think about it from first principles perspective that I don't think any of these
institutions do. They just look at indicators, numbers, and it's like, okay, wait, what are we
trying to actually solve here? We want a functioning economy where a lot of people are employed,
a lot of kids get to go to school, a lot of people are educated, and we have a good healthcare
system. That's none of those things are happening in America. So what country are you describing?
I'm just saying like, that's not America. Good healthcare system.
No, it's getting educated. But my point is like, why don't we just break it down?
We're optimizing for that. We have to make some serious changes.
No, but 18 months ago, everyone was happy. Two years ago, everyone was happy.
Two years ago, everyone was happy. Happy. December 21, we were about to hit the roaring
20s. December 21, people were very happy. December 21. That was peak of happy.
They just got out of solitary confinement. As the prices were at all time high across the
board. But you look right now, what's interesting is the NASDAQ has basically been on absolute
fucking tear. Predominantly eight companies, but now you're seeing a broader rising of stocks.
That is not reflection of the real economy. That's not even reflection of lower interest rates.
That's a reflection of what? Nothing AI? What's going on there? It's just AI?
I think it's... Well, no, I think big tech is just...
But they're saying because of AI. Their sales are all down.
Yeah. They don't have... They're not growing. I think they just are projecting lower costs
because of AI. Yeah. That's what I'm saying. If AI does not
real, if there is an inkling of that, it does not add beneficiary cost savings immediately,
this market's toast. AI better be fucking real.
AI has to be real in terms of how people are pricing all these tech companies because everyone's
just pricing in massive cost reductions. It's a joke. I mean, unbelievable. Even like,
IBM is up. Yeah. I mean, Nvidia hit a trillion dollar market cap. Yeah. Trillion dollars on...
I think it's like... What's your sales? Seven billion a quarter? Eleven billion a quarter?
Something like that. Yeah. Twenty times sales. Yeah. More.
Yeah. I think what I'm trying to understand is nothing is... We're back to like...
Two months ago, things made sense to me. That is raising rates,
real economy is shrinking. Stock market was struggling. Now we're starting to see things just operate
completely in silos. Like... I don't we talked about this on like a million episodes. It's just
you have trillions of dollars of cash that is being paid to invest. So they picked six companies
and they're putting it all over again. Well, what are they going to do? Yeah.
Otherwise, they don't get paid. Yeah. Well, I think the interesting thing
from the Fed's news is they believe inflation by the end of 2024 is two and a half percent.
If we believe that, we're getting rate cuts in 2024. Okay. So 2024 could be the beginning of
the real economy, not the fake stock market economy, the real economy, finally recovery.
Yeah. So I mean, we'll see in the next two quarters what the real economy does. I know
you guys are very in tune with retailers. What are they saying? It's bad. Not good.
I haven't talked to a retailer that said business is strong. Ironically, I've spoken to retailers
in Europe that said their business is strong. I talked to a retailer in Australia. They said
their business is strong. So Europe's really interesting because they have the same inflation
issues. They have same high interest rates, but somehow they've been able to withstand
like their consumer is even more resilient. That's interesting. Do you think it's because of tourism?
It's got to be. I mean, so just the European economies I'm traveling next week to Europe for work.
I'm sitting at the back of the fucking plane and I've never paid this much for coach.
In saying, two grand way more for coach double,
coach, 30, 500 bucks. So what's a business class seat, 11 grand, 11, 12,000 dollars,
and it wasn't available. You couldn't even buy it if you wanted. There was literally no seats.
I am sitting like corner back. I think there's two seats left on the plane, like a middle and
one window and it took the window. That's crazy. What's the, is it because of fashion week?
No, I think it's, I looked every day's bit booked. What's fashion week? 5,000 people?
No, it's never fashion week. Yeah, I don't. It's just the reason I didn't say anything that
whole time is it's just back into like, I have no fucking idea zone. I don't even, I don't know.
Yeah, why is it? Because I'm not seeing food inflation at the grocery store yet.
Point. I mean, why do we want to send ourselves in a recession because of this arbitrary number of
2% inflation? Because I don't think it seems like the economy's working well at 4% inflation.
I don't know if it is. So you can't even get to Paris. People are pigs.
But I mean, it seems like it's good. Travels good. Like, you know, things are a little soft,
but like, it seems to be working. To me, it definitely is the best indicator.
But what happened to international banks is like insane. And like, I know that in today's
day and age, that feels like it happened a year ago. It just happened. And that's like a major
breaking of the system that happened. And I don't know, I don't know. It just feels to me like,
this is something we should look at fixing over five years, not the end of this year.
Yeah, because the problem is if you just tear down what happened 30 years ago in the 80s,
when all the numbers are wrong, the numbers are wrong today. Why, what have we accomplished
by raising interest rates? We've accomplished a couple things. We've destroyed commercial
real estate. That is an industry that you, I had a conversation with a friend on the way over here
with that's very involved in all these commercial real estate projects. And he's like,
it's pencils down till end of year. No one's doing anything. They don't use pens.
Pens too. Okay. Both pens. They need to be erased at the moment. Yeah, I mean,
he erased that debt. It's like, you know what? It's like a Justin EBITDAQ.
I said it down. Whatever, whatever mechanic you want to use. And he's like, yeah, it's,
it's toast. Like, there's nothing going to be done in commercial real estate. Homes aren't selling.
So if you look at like the number of homes that are up for sale, no one's putting their homes
up for sale because no one's going to buy them at 8% mortgage rates. So we killed regional banks.
We haven't done anything to unemployment. It's still people are employed at record numbers.
Everything else in the economy is working except for these two things. So all we did with
raising interest rates was kill commercial real estate and give people big,
big credit card bills and give people big credit card bills. And you kill the real estate market
and hope. Yeah, because no one can sell their home. Yeah, you can't buy or sell your house.
You can't move. Yeah. Yeah. Why do you have to move? I don't know what this obsession is like,
I got to move. I fucking stay putt. I mean, if you have one kid to two kid, you need to move.
That's why we moved. Well, you just thought about that when you're having interest rates.
It's going up. You shouldn't be I'm kids. Yeah, I don't know what we solved.
That's what in this whole like cyclone, no one wants to like break it down.
The inflation is coming down though. Inflation's coming down, but doing inflation's coming down
because they raise it. Yeah, because you stopped spending on certain things. We're servicing
credit card debt. So we're not buying 500 sweatpants. But what's the problem if we had low interest rates
and everyone's spending then the cost go out. You know, do you know that? You're not that stupid.
You know what I know, but I don't know why anyone's like pitching the counter argument. Yeah,
because it's not no one wants to take the risk of just hyper inflation. It's just too scary.
I just don't get why we don't go slower. That's all because it feels like this feels good. Right now,
just one thing meeting with no raised rates things are on fire. This is just. If you think about it
in the summer of 2021, the same Federal Reserve with the same Powell and the same federal
governors, we had 5% inflation. They did nothing. So 4% that like we got to kill the regional banks,
kill commercial real estate. Can I ask you a question? Who do you think directed the
reality that we got into of like essentially zero interest rates and like
whatever the fuck you call that?
Sir. Now, what do you call like the strategy of money flowing more freely?
Just like quantitative easing. Quantitative easing. Yeah. So this is why you think that how like
who do you think like do they they're forced to in 2008 similar to 2020 when 2008 was
a systemic risk that the entire banking system was going to collapse? Same with 2020. We didn't
know at that point. Right. So in 2008, they basically said like, Hey, this whole system is going
to collapse. We have to backstop everything. And once it's zero interest rates, basically
propped up all the banks, the government made that was just so good. We didn't stop. Yes.
And what I'm trying to wrap my head around is like, who do you think encouraged that? That's not
a Jay Powell alone wanting the good times to keep rolling. Like is that influenced by the president?
Like who influences that decision? So 2008 was Obama's elected in November of 2008, right?
So it's Hank Paulson under president Bush who is the head of the treasury secretary. There's
actually like pretty good HBO movies like recapping this whole time. And Hank Paulson and actually one
of the current federal governors, Neil Keshkari, were the guys that basically went to the Bush
administration and said the world's going to collapse. Yeah. We have like 72 hours. And this is our
only chance. Yeah. Yeah. I'm just more talking about like what I'm trying to wrap my head around
is this whoever kept the good times rolling. I'm trying to see what is our path. Like is it a
a new president that gets elected next year? And that person has some incentive to
keep the party going. No. Like how does how do we? I think generally the president doesn't have
that much influence specifically on interest rates. I think you can publicly talk about it,
but historically, I don't think they've had real influence. They're not supposed to. Yeah,
they're not supposed to. And I think I think what will have to happen is just the data has to show
that we can stomach lower interest rates and not worry about inflation. That is all I'm saying
is like, so I keep going. Keep going. Finish your thought. No, I think that's all we just have to
see the data. And if Jerome Powell is in the Federal Reserve chairman, then he we know how he's
going to behave. Like he's irrational on both sides. Yeah. He was a rational on cutting and
keeping. No, he's actually cutting. He was irrational and not starting early enough. Yeah.
If he started in the summer of 2021, we'd be done by now. So I don't expect this to be handled
correctly. So just think about it from logically speaking. If in 2021, 5% inflation
head was not on his radar or something to worry about, why is 4%?
He just learned about inflation. That's what I'm saying. Yeah. He's
nobody. He's sleep. Yeah. Well, I'm saying, I don't think the decisions are actually based off
the data. I think it's like, there's some emotion there. Like why didn't you start tightening in
2014 or 2016? Like there's some sort of influence. And that's all I'm trying to find is when do we
get back to the party? Because we want to get that good feeling again. Like we had, you know,
I went long after, oh, wait, we things were good. We kept it loose. That wasn't database. That was
you know, that was something else as well as that way you're talking about in 2020.
And if you think about it, like what's actually happening in the world is
like D talked to our close friend, Dairy, who said the under $75,000 earner is screwed.
Brushed. Brushed. And you're spending $3,500 to sit in the back row to get a Paris. Yeah.
So what are we doing? Well, I'm going for work. I'm not going for fun. I'm not saying
society. Yeah. We just raise interest rates, crushed the poor, and people who can afford a $3,500
last row coach seat can still do that. Yeah. I'd love to know what the yearly income of everyone
around you on that plane is. I'm just curious. Like honestly, like is it people breaking the bank
because they just want to go to Europe or is it just all, you know, do people do it well for themselves?
In most cases, let's take first class out of it. Those people potentially could actually afford
those seats. And most of those first class are paid by corporations. Yeah. Sure. 75%. Okay.
But maybe not in the summertime. You might get leisure travel. Six kids. Yeah. Six kids, first
class, 200 grand. It's cheaper than private, so whatever. We've seen some Instagrams of our
close friends. Yeah. Like the kids are two-year-old sitting in the fucking late class.
I can't imagine these flights right now with rich kids just sitting there, stretching the legs
having a peanuts. Yeah. It's probably miserable to fly first class because just kids crying
extremely. You might have won. But but I think I think the the thing is is that
most people are breaking the bank in general, specifically if you live in LA, New York,
our cities, right? What I have read a lot about is a lot of these economists have done studies
now that people are moving into these second-tier cities. They'll they'll take an income of $150,000
in LA and they'll take an income of $150,000 in Texas. And between the state tax,
lower rent, lower insurance, lower cost of gas, that the real income of someone in Texas is like
the equivalent of someone making like $300,000 in LA, right? And we know there's not that many people
making $300,000. That's a lot of money to make. So what we we always discount that people outside,
like the people from LA going to Paris are they're broke. They're break the bank. They're going,
they're spending all their money and they're like, fuck it. I want to go to Paris. I think the
person from Texas or Florida going, their cost structure is just inherently different. They have a lot
more. We do underestimate how much money Americans have saved over the last five years. And so there
is a saving pool of money that like they've earned a ton of money on equity in their home.
They probably took some money out when the interest rates were low. They still have their job.
For the most part, their costs are basically the same with side food inflation in certain places.
They have money. They're going to go spend it. And the other big thing is with the baby
booge generation, you know, at the end of their lives, the amount of inheritance. Oh, the number
right. I think I read the 70 trillion, 70 trillion dollars is getting passed on to Gen X.
Body Europe trick. Think about it. If you just, and I'm hearing this anecdotally,
oh, my uncle passed, my my grandmother passed, you know, she left 500 grand. She left a million.
Where's that going? All that's going to Paris. Yeah. Yeah.
What's going to Paris? Yeah. And fucking terms with concerts.
The greatest generation, which is considered the baby booners because they world war two,
they brought, you know, America out of the recession, all that stuff. All that money is going to
tips. These people fought their entire lives. Great generation was way more financially savvy than
average generation. They all saved. Well, they were, I'll counter what they were given the opportunity
to save. Think about how hard it was for us to save in our 20s. I would say it's way
easier for us in our 20s versus someone today. Yes. But even because that's, you know, people
asked me a lot about like, how are you able to invest in these startups? Yeah. Now it's like my rent
out of college, two bedroom, luxury apartment, the Medici in downtown. I paid $900. Yeah.
Split two ways, $1,800. Yeah. That's not even possible. Not in my life. Yeah.
And I was able to save and I was a banker. So I made a lot of money and everything was saved.
And I just yeah, because if you made your save money today and just no chance,
yeah, I have no money between the waterfront and Victorian. It's no way. Yeah. Exactly.
Yeah. $30 drinks. You get a drink anywhere in LA. It's $25. Yeah. Yeah. So think about, you know,
I was making the same money a banker is making today. If not more, I think it's probably similar.
My cost structure is probably 60% less than theirs. Yeah. But don't you think this is where we're
learn a little lesson, like a little experiment that we'll never actually see. But in what part of it
was because I do agree, like I think most of it was like financial. Well, just yeah, like things
were set up for them to be able to save for the baby boomers to be able to save structurally.
But now you have an experiment happening where, okay, they saved. They are passing that money
to millennials. What are they going to do with the excess money? Are they going to spend it?
Are they going to continue to save it? Are they going to, like now there's this transfer happening.
And in theory, that's all investible money because you've lived. Yeah, look, I think it's going to go
to all of the above. Like I don't like obviously we're joking. Obviously Taylor says I'm joking.
I think that's where it's going. I think Taylor should have to become a billionaire
thanks to the greatest generation, baby boomers. Or multi-billionaire.
She's going to make a billion and a half a year. So shout out for everyone's parents fought in
World War II. That's where the money's going. I do think though they're going to, it's going to
real estate is going to get bought. Huns of real estate is going to get bought. So it's two generations
actually, right? The World War II generation, they're in there. If they fought in the 40s,
yeah, it's 2023. So yeah, they've either passed a few people are like, and then you have
the next generation, which is the people that we're earning starting in their 70s and 80s,
and a much more uncertain time and they saved like our parents. Yeah. But if you talk to our
parents about their cost structure in the 80s, how much they have to put down to get their house,
what they were able to send their kids to public school, and like, you know, get all the benefits
of it. And I think that it's still happening in other parts of the country. When we live in L.A.,
that's like, you make 150, 200 grand in L.A., you can't buy a house. No, that's, it's never happening.
Yeah, you're waiting for your parents to pass. Yes, to get the inheritance, then you could go
by the house. Yes, you're literally waiting for your parents because otherwise you're not.
I'm just so curious. What part of this is also just the like social media, like, you got to look
good, like world that we live in, because $200,000 in L.A., you could buy a house one day if you were
in, if you lived like you made $60,000 a year, 35%? Why would you have to live? You'd have to
live in. 17% is tax, right? Gone. Yeah, so yeah, they'd have to, they'd have to, they'd have to
basically make paying less than $1,200 a month for rent to save money. Because let's say they spend
two grand a month on rent. If you make 200 grand, you're spending two grand at least. That's 24 grand.
Two minutes, whatever. Yeah. And then let's say with utility, this, that car, car insurance gas,
let's say you spend 500 bucks a month on car, which you can't get a car for 500 bucks a month anymore.
Insurance. So you're at four grand a month between car, apartment, gas, without even having
a meal yet. You haven't had a meal yet. And you haven't even hit waterfront. You want to, you know,
go do something fun. You got to buy clothes. Like how much I'm curious. We should ask him,
Havier, like, what has he spent on a given weekend doing out? He's probably connected where I bet
you he doesn't have to pay much. Like you make minimum wage at two in a grand and then you can buy
a house one day. Yeah, you can just sock away three roommates, three roommates, Trader Joe's
dinners, $10, $10, $10 bottle wines. Yes. And then you can buy a house in Simmy Valley.
Yeah, because yeah, because you could save 20 grand a year. Yeah. 10 years. Yeah, that's
fun. 200,000. Let's say you earn some nominal interest on that money. And so maybe a 250 grand,
300 grand. And yes, the best you get because you have to put 20% down. Simmy Valley here you come.
Yeah, I can't blame social media on that. It's yeah. I'll actually be I'll be transparent. So
after two years of banking at a college, I made I think 150 grand the first year, 185 grand
the second year. Okay. So it's 22 and 23. Yeah. Taxes, whatnot. I had over a hundred grand in
my bank account. Yeah, which is crazy. But you know, I just want to point out that you I didn't know
you then, but you've always lived below your poverty line. Yeah. Yeah. I mean, you lived in a
fucking flat house over on Burton Way for a while when you didn't have to. Yeah, that's the way.
Yeah. I mean, millionaire next door. You're the guy. What's up with that guy? Yeah, it's like
friends except for one of the guys of millionaire. Yeah. So yeah, I'll get it. It's fucked up. But
either way, here's the point is that wealth transfer. So that did happen. The boomers were able to
stockpile money for whatever reason. Now there's a huge transfer coming. We'll see what happens.
I mean, I just I feel like I learned a lot after stimulus because you saw like
where that money a lot of it just got instantly spent. And I burned the first 85 grand.
Oh, yeah. That's right. That's why I still find. Yeah. Yeah. Yeah. You did. Yeah. But you
I will say you are a testament to living below your means for a long time so that you can live
well later. You did that well. Yeah. You were now ballin and trying to look rich in your 20s.
I did that. Yeah. We all did that for you. The other thing on this sort of topic is rent.
You know, new rents are going to fall on an annual basis for the second time since for only the
second time since 2008. So renting, you know, the renting market is having some trouble. That's
the last kind of thing on this spending and economy chat we're having.
Well, I think like rents are actually going to fall annually, which is the first time since 2008.
There's a pretty big deal. And when you think about inflation, rent is was a mega problem.
Yeah. I think it's 30% of the CPI. Yeah. And then use cars was a humongous part of the problem.
So you are going to see this decrease in rent this year for the first time.
If you look at kind of the housing market and the renting market,
if rents are going to go down and this is going to be the interest rates probably for at least
another year, renting makes so much sense right now than owning. Oh, 100%. And I would say I made
the joke in our chat. I think I'm going to rent forever. Yeah. There's a lot of, I followed
with some guy on Twitter the other day, they said, here are all the reasons why I'll rent forever.
It's not a bad financial decision at all. That's kind of a common misconception.
I think the issue right now and look, history's proved this wrong. So maybe you'll prove this
wrong again. And any of these properties in West Hollywood, Hollywood Hills, Beverly Hills,
name your area of like the most desired places in the city for buying to make sense.
You'd have to outpace the SP 500 because you're tying up all this money for extended periods of time
where your house has to go up 15% a year because I think that's in P probably will do 12 to 15% a year
on average. And also minus all your costs, all your property tax and your maintenance and all that
stuff adds up. Mansion tax now. Mansion tax. Yeah. So we know you're susceptible to that on it.
If you can't outpace the S&P in your home, why would you type your money? So for a lot of people
and this is part of the American dream and that's just psyche. You don't have to agree with it is
I want to own my home. This is my safe place. I own this property. I can build the deck in my
backyard. I can build a guest house if I want to. I can redo my bathrooms. It's just like even
now more so actually like a friend of mine who I've done a lot of investing with was like this is
why you buy home for the same reason you said it's your place. Yes. It's just a personality type.
Like some people like to spend that money on traveling or you know whatever like they don't care
that much. Some people care a lot. Like that's really I think the main deciding factor.
And the real issue for me personally why I haven't bought and don't foresee buying in the near
future is it's a financial burden if that much of you because if the house I want to live in
the financial burden of having that all tied up in a down payment I'll start stressing about
finances but if it's not tied up who cares yeah yeah look if you could find the house that you
want or your apartment you want at the price you can afford and you're happy then I think it's fine
I think it's just a personal preference some people like they're like want to put work in their house
I mean I live for two years in poverty so I don't think you're like you're like just a jail so
do a very different perspective literally I think it's just funny how many people I talk to you. What is
this a phone you can just carry a phone they have internet here there's a really coffee shop
I think it's funny how there's like this outdated probably we just talked about them but boomer
belief that like renting is lighting money on fire and you have to buy like I talk to a lot of
young people who say like oh you know but the biggest the biggest problem right now is I'm renting
you know I need to buy something I need to buy something that's just not true you know like
there's such a more nuanced way of looking at it exactly it's still one of the most common
misconceptions is that renting is lighting money on fire yeah okay me honest you could live in a
nicer place where you can rent just a quality of life then buy like you'll sacrifice quality
of life so that's also what you're balancing yeah and the trickier to any listener who's interested
in this is you still have to put the money to work so the money you would have put into the
down payment what is that money doing instead you can't just spend spend spend spend and be like
well put it in by a house yeah literally you put your down payment in a video and rent
you'll have a mansion in no time just kidding that is not real investing advice don't take
serious okay next up in the news of San Francisco another closure so first we had kind of the
smaller you know I think you heard from like the Starbucks and the Walgreens and then we just
talked about the massive Hilton um the city's just you know having some trouble the new closure
is Westfield the mall is going to give up their San Francisco location due to declining sales and
you know struggles so it's not a closure it's basically Westfield is the operators giving up the
keys to the debt holders so Westfield if you don't know American malls is the premier mall operator
right if it's a Westfield mall more than likely it's done done really really well this is wild
they're walking away from this property completely they stopped making payments this month on a
$558 million loan they in 2019 we've all been there yeah and it's on it's on market street
in the hardest San Francisco in 2019 this thing did $455 million of revenue this mall in 2022
it did $298 million so this is by the way this is just in
in the span of these three years right like the drop in sales to put in perspective the Westfield
at Valley Fair which is in San Jose on fire sales are up 66% I was at what's the place in San
Jose antenna row yeah I went there last fall with our mom and our cousins it was booming yeah so
it's not a brick and mortar issue it's not a retail issue it's not a consumer spend issue in this case
it is 100% a location issue and which it's a great location or used to be yeah I mean it's the
heart of the city today if you walk down market where this mall is it's especially like early morning
it's zombie land just it's it's crazy it's scary it's very scary and so it's pretty fascinating
like the the speed at which what's happening in San Francisco we're basically now everyone's
gotten the cover every landowner right or property owner bucket I can just return the keys
so everyone's gonna go do it well they have to they have no choice because it financially doesn't
make sense to keep going but it's like a gang up mentality it's a psychological yeah people do
it you can't come after me because the whole thing is sunk yeah I think it's psychology was like
it's okay to give up the keys you have no embarrassment yeah yeah communication to try to keep going
yeah they're like we expect you to give it up I mean I know friend of a friend massive office
owner in San Francisco I heard giving up the keys left right in center yeah it's not a good
person to be a keymaker in San Francisco who's receiving all these keys who's the debt holders of
all of these it could be anyone it could be banks it could be blackrock it could be private equity
yeah private equity it could be anyone family offices like who knows but here here's the ultimate
problem is you're giving up the keys to people that that's not their industry yeah they don't run
offices they don't run westfield malls they don't run Nordstrom so they're gonna deteriorate even
more yeah so the cascading effect is like a 10x I mean quality of just any I got I got a big move
here Saudis by San Francisco by San Francisco in Shallah and save the city make the malls
indoor golf courses we just talked about how in the inner city there's not golf courses you could
do little you know what all down make a golf course but yeah but I'm just saying like Saudis want
exposure to tech they love tech save the city save that what is it five billion you save the city
10 billion 20 billion yeah somewhere in that range what's that they spent a few billion a goal
but yeah that's five times where you were gonna pay tiger woods to join your league come on
I think the the point is drama brought up in the previous spot and is the crime the homelessness
that's not being addressed which is why everyone's leaving well Saudis come knocking it's gonna get
it still local politicians they're gonna have to deal with some people I heard it's very safe
San Francisco San Francisco has to be like an authoritarian city for it to come back yeah in my
opinion yeah so I don't know if you guys watched any of the clips of Sean Hannity on a Gavin Newsom
on Sean Hannity no but it was pretty good I saw one clip he's good he went in the lines then yeah
crushed and yeah yeah I was very impressed and I think he's gonna be the Democratic candidate I
think Biden steps down and that's my prediction yeah they're setting them up they're setting
like that was his like coming out moment and they asked him or Hannity asked him about homelessness
and he answered it's like yeah I own it it's happening in my state but what you don't understand
it's local politics that is preventing me from doing anything so to change something that's
happening in San Francisco you need that mayor that DA you need that city council to basically step
up and he's like I own it it's happening in my state but here's the nuance factor of what's
happening in California and Hannity had no answer to that yeah I mean that's a tough the problem
is is like that is the right answer but it's just not a good answer either sure you're not getting
this but no you can't just throw your hands up no but I'm not the mayor so I guess the broader
point to tie it back to how do you fix San Francisco if the local politics don't change it doesn't
matter well these people keep getting elected so obviously they're very popular right the people
like what's happening in San Francisco the constituents of San Francisco like they don't want most
they don't want no they don't want stuff but they don't want no they don't want they don't want to eat
they don't buy anything I'm so confused that's the part that makes me feel like like crazy is like
getting elected yeah like how do you see that the mayor just keep these progressive people
keep getting elected so they like it they're happy the people have voted for them they walk around
and be like what a great fucking city I don't see a store in sight just the way I wanted it
coffee forget it you can't get one no restaurants the shops nothing it's all over maybe they're
just so sick of all the boom for the last decade they're just like I want to see it all destroyed
I mean San Francisco is only like 7800 thousand people so of those 700 thousand people how many
don't want shops coffee restaurants probably 700 thousand yeah maybe a hundred thousand people
like in tech want all this like oh I got to have coffee on every corner yeah I agree
doesn't make sense okay well we'll see but like you guys said I think there's a
very fast chain reaction happening here because every time a mall closes every time a Hilton
closes every time whatever also the area gets a little worse than they're less likely to go then
the smaller shops closed so I don't you know we'll see what the west fear mall because I asked my
friends in San Francisco it's like who's gonna run it he's like probably some junior analysts at
McKinsey yeah it gets stuck oh my gosh all right okay here's an interesting one in the world of
business bud light on its favorite topic he was like please please please we got to talk about bud
light this episode so we weren't gonna talk about it but we're like all right um so we've
talked about the bud light boycott everyone obviously knows what's going on there the big news now
is that bud light has had the title for the top selling us beer for a long time since oh one
or something like that yeah for a very long time and they just officially got dethroned by
Madelo you know because of their decline because of this whole issue and Madelo has passed them you
know people have switched to things like course light Madelo stuff like that but I mean jeez
to lose number one after that long pretty well so modelo is owned by constellation brands another
big aggregator it's really interesting that modelo is the brand that the benefit is you know of all
there's so many big brands I'm kind of shocked it's that brand yeah I'm a cruise like yeah that's
a Miller light or like any of that like Madelo it's I don't know I didn't expect it either yeah
and I know it's a it's a very popular brand but it's like that's where the dollar shifted it's
just what's the psyche uh here's a question is that where the dollar shifted or was that just like
separately number two so when they fell they fell kind of below number two as opposed to the dollars
significant increase in sales but so did course others right yeah so like I think all them
experience an increase I'm just like kind of surprised that was that's the winner the stone cold winner
yeah yeah no I agree I agree I'm just trying to find other like reasoning why it might make more
sense I think everyone just went from bud light to all the others Madelo was number two and so
they caught up the fastest I guess is modelo just the distribution is as big as bud light so you're
at the bar and they have a draft they're like we got bud light we got modelo and we got yeah that's
it like I personally love Adele so I get it you know there's a lot of interesting stuff that was
shared with me the average American drink 60% more hard liquor now than in the mid 1990s I believe
that it's because it's better think about the quality of spirits you know like the the
calories the variety of tequila is the variety of whiskeys the variety of jins the variety of vodka
this is just better like they were shoving down Jose Cuervo and Jack Daniels remember when the 90s
uh what was that stupid drink when we were in the long island yes long island I was just
mother fucker I was like what is that why were we doing that is this we're looking to get alcohol
poisoning I threw up every time that's good that's what you were going for yeah you were like that's
how I know it works yeah I'm fine it's really drunk it turns out did you guys see that
Jen's ears aren't drinking at all anymore so I think we've been saying that for a while on the pod
but I mean the numbers it's affecting things like concerts and stuff like that drinking
zal I feel like they got to just start selling mushrooms and intervals and joints at concerts and
you'll be back to printing money everyone I know does mushrooms it was basically what was happening
at Coachella at all the parties they had shroom stations yeah so look at this one operator in Tucson
like of a of a venue they saw a 25% decrease in money spent on alcohol relative to shows
that cater to older generations older generations too I mean I think we've seen it for so long
it's as we never really had like the numbers but as far as I can tell everyone is smoking or eating
weed and taking mushrooms at these things now it's not that people are sober it's just drinking
21% of Gen Z had purchased a non-alcoholic beer in the last 12 months
I feel like even at Coachella like no one seemed drunk
yeah I mean I was I guess I was high too well you're old schooled high yeah yeah you were yeah
I know you were close my life yeah you're old school I mean but like Coachella
eight years ago when you're in you know the area that we were in and there's tables and bottles
people are drunk clearly drunk do you know what the difference is because those things weren't
readily available when we were in our early 20s yeah so like you can know what you're comfortable
with when you're in the late 30s which is like we know if we drink we're not we know when to stop
before you throw up yeah stop before you like sometimes yeah but yeah these kids actually of
their introduction to substances were shrooms weed yeah acid so now they're comfortable with that
because that's what they were exposure but we just weren't exposed to that 20 years ago yeah
not saying what she's better but what the fat thing is is like alcohol sales overall or not
yeah no no so it's just specifically this younger generation which we'll have eventually have
an impact or we'll eventually Gen Z as they get older just ease into back to drinking or when they're
30 years old and they have their first kid when they come home they're like hey I'm gonna drop
some acid little little Jimmy driving me now it's gonna be when like if you watch succession
everyone's having a cocktail all the time yeah that's old school yeah that's old so when that
changes in pop culture where they're just like doing a shroom I don't even know how you consume
shrooms is that a tab what is it now it's like the main thing I think we're chocolate yeah chocolate
so like that's not as powerful of a scene yeah of like Logan Roy just having a chocolate
he had just had a little Hershey bar yeah I agree hey guys I haven't watched madmen isn't that
all just like scotch whiskey drinking cigarettes all of it but also now I think that like you know
it went but let's say when we were doing young and reckless in the prime day yeah even though
there were a couple people that did you couldn't drink during work hours but I think right now a lot
of people are like on an edible or on a shroom edible during the day at work I think that's
happening a lot yeah I don't like this things happening everywhere yeah yeah whereas if you
were sitting there at your desk having of you know Casa Migos it's not quite that's pretty fun
actually that's so true because I don't think anyone judges anyone if you're at like some high
growth tech company and you're micro dosing all day but he just poured it whiskey I mean I still
go to meetings where people have a cocktail in the afternoon all the time yeah that's the
meetings I'm saying at the office at the office there's no but I'm saying like sitting
in a computer at the office taking some sips of a of a Casa Migos I mean you go to these companies
people are drinking beer at like four o'clock yeah that's true yeah it's weird man times are changing
okay here's a great one you ready for this yeah sense a lot of classes
became virtual right so a lot of obviously colleges and stuff like that are still doing
virtual classes and they still have optional you can go in or you cannot
here's an interesting thing that has happened an interesting effect since that change is apparently
good looking female students no longer get quite as good a grades so this is a study done
at a Swedish university and they did a sample of 307 students and they separated
two of these classes that were remote during COVID and they basically like
tried objectively determined who was attractive and basically
uh they saw a difference in the grades they were given by being remote ironically good looking
men still got the benefit on remote schooling that's interesting that's interesting I'm
I'm pleased who's the arbiter of who's good looking in this study I mean I'm happy to do it I'm happy
to do it yeah you just saying how much time you have right yeah yeah just if you're a guy girl you
want to know you're good looking I'll you know it's not like a bird god started
but it's interesting yeah I wonder does part of the reason this push for remote work is that
it does loving level the playing field if you don't look the part of a certain company like
physically maybe you know like I wonder if that actually has a psyche in like hey I work like
for example if you ever walked on the campus at Nike everybody looks like they work at Nike
they're fit it's the same at a hedge fund it's the same at a private equity firm but now that we're
shifting you like for example like you go to like a uh like most finance companies everyone kind of
looks the same even if they're different races and different sexes they still have the
Patagonia yeah they still the way they look they're they're primarily pretty damn fit like yeah
they're just or similar yeah and like I wonder because you're remote now you don't have to follow
that conformity and that's why people are like you know what I don't want to have to dress like
that I don't want to be fit I don't want to have to wear these shoes I get to be myself at home
I think no I'm just gonna say I think that'll only work in extremely
tactical in any industry whether it's engineering whether it's AI crypto where your skill is just
so ahead of everyone else doesn't matter how you look yeah do you think that's a little bit of
human nature like um it's like a culture thing that like even though it's weird when you look at it
like don't you think maybe that like creates a strong team I'm not saying pretty or not pretty
but like the cultural element of like we are all this we all fight together we're a tribe like
don't you think that's a little bit of like a human naturey thing that yeah yeah and like I remember
the first time I went to I also went to I remember visiting the Ralph Lauren office the visitor
friend who worked there and I was like whoa but a different kind of looks the same everyone went
to Ivy League it is a type they hire a type no it's and I think a lot of businesses hire a type
or you're conformed into the type so yes in in finance I did my summer internship when I had no
money and then I got my signing bonus to come back I first thing I did I went to Brooks Brothers and
bought eight light blue button up shirts yeah and word every day yeah because you don't want to look
out of place yeah yeah I remember you still did that for years they were just five four shirts
yeah that's true yeah this is what I wonder is when is the mob going to come for pretty privilege
like it seems like the you know we should try didn't they didn't they try already I don't know
I'm going to miss that newsletter I'm sure with the pretty is a good group to go after let me tell
you that's not fair look at the studies yeah I mean if you studied good looking people across
everything I think I'm people would be really fucking pissed off yeah I mean I'll take them down
I mean we'll wait till like rest of America finds out like what a pretty girl in LA in New
York's life is like are you kidding you live like a billionaire at 19 yeah there's a cost to it
let's be very clear there is but it's not the cost aren't that bad depends on everyone's
paying that cost for their own thing you know some people are doing it for free drinks at the bar
some are doing it for yachts any beef yeah at least you get off at it yeah I be fat okay all right
this is a fun one this our last story before we do winners losers content this is a very fun story
um on and I'm curious what type of car you drive you drive a Mercedes-Benz correct
yes I do okay D what do you drive GMC Acadia I drive an American this makes perfect sense
manufacturing for the listener on and I'm with you I also drive a Mercedes-Benz and I would
like to say that you know the data checks out so we have a chart here a graph that shows the
political leanings of car owners right so like what car you own and where you lean on the political
spectrum obviously the furthest to the left is Tesla on and we will both be proud to say that
the next over is Mercedes blue team liberal elites liberal elites yep over here with us you have
Subaru's Lexus Audi Mazda Voltwagon you know you'd expect every non-American car except for Tesla
now here's what's funny is the second from the right so I would say like Alex Jones territory
is GMC right next to Ram
do you need to get a band it over here
do you need to go to the gun shop and just pack a rifle I don't need a gun I got my GMC I'll run you
over come close by man well it actually checks out because when I go to the Mercedes dealership
for the servicing it's a liberal crowd it's very well yeah but so on the right man there's
having a good time yeah yeah GMC yeah I think look the funny thing is is like I remember vividly
room because our father worked at a private company but they had a government contract and his car
was always given by the company and because it was a local government contract they were very
adamant that it had to be an American car yep and so my dad always drove predominantly forwards I think
yeah the SUV SUV and so in my head there was always like you know this like American car thing
and so my first car was Mitsubishi and then my next car I drove my dad's Ford and then I got a
Cadillac was American car and then obviously got a foreign car and then came back and now I was
like literally when I was looking through cars for whatever reason like that little thing in my
head was like I don't know dad always drove an American car I'm gonna drive an American car
but I see it's the mega voice in your head that's what that was but what's funny is as soon as
our dad retired and he made all this money what did he buy and Mercedes yeah he's on the left
and then you went back to the right yeah it's a good lesson we should share it on social yeah
we'll share it on social see where you sit guys listeners and tell us how accurate it is but I
mean to me and not to be stereotyping here but it seems pretty accurate yep yep okay at least
you agreed we got him on it okay let's wrap it up with our winners losers and content recommendations
D who's your biggest winner of the week I'm actually even though I'm sick of talking about it
and I don't care about it I think golf is the winner thank you uh I think I think the excitement
for the sport given what happened with live um and if you haven't heard jay mohnihan is recovering
from a medical emergency so he'll not be present at the US I was gonna go find him yeah sure
what happened so this guy just has this moment everyone's pissed now you have one of the biggest
golf events of the year because he knew he was gonna get fucking yelled at by the fans the fans
are gonna attack him right and the players I don't it the players less I think the fans fans are
emotional yeah that's just I mean what a cowardly like to go about the whole thing the way he went
about it and then did now have this big event the one after your announcement yeah it's something
is very wrong with him you know I'm not judging that obviously but man if he's just ducking out
yeah I think there's an incredible time for um kind of the tier two sports in america with
mls with messy uh what's happening in golf f1 like these are like emerging to be potentially like
really could they're not gonna compete with the NFL but they could compete with the NBA
immediately baseball for sure they could definitely compete with those two sports yeah so it's
good it's a good for the sport I like it oh but I'm on it my winner is uh Nikola Yochik Yochik
he won the NBA finals yesterday Serbian I don't know if you guys caught any of the clips of the
interviews he's just like a normal dude oh he's a bro he doesn't give a fuck about anything
doesn't talk about basketball like it's like a side hobby a little bit right yeah and they ask him
about the parade and he goes oh my god it's Thursday I gotta go home I have horses racing on
Sunday yeah and he's like I'm getting the owner to get me a plane yeah which he deserves yeah after
delivering what he did yeah and it's such a cool story story and you know Yochik and Yochik and
Chokovic one won the French Open one won the NBA title in the span of 48 hours and the Serbian
populations like 11 million people yeah I mean what is going on here why when I saw that I was
like what are we doing here in this country what they're not doing participation trophies over in
Serbia and now they're not by beating their ass and that's what they're winning towards even the
Yochik brothers are like a thing because they scare the shit out of marquee Morris yeah yeah when
they when he was scary looking yeah I'm just saying like it just shows that like man we just don't
have the dedication here we don't have the the fight that you know even the number one prospect next
year so obviously this year is the French kid Victor next year to Lithuanian guy seven one just
training threes yeah and we just we don't have it yeah we don't have it okay uh my winner my
winner similar to years deep but I'm gonna go a little more niche uh Netflix because Netflix
just so happened last year to decide to film a documentary about the PGA tour called full swing
and they captured the first moment of the live transition and they were actually with a lot of
the players and stuff but they're currently filming season two while all of this is happening and
one of the guys maybe the director or something tweeted that he was with they were with some of the
players shooting when the news came out about the live thing and all that so just I mean these guys
got lucky I mean I'm guessing that like three years ago when this concept came up the idea of a
documentary about the PGA tour felt a little boring boring but man did they hit the jackpot so uh
can't wait for that new season yeah uh loser D who's your loser my loser is uh Fox News
Tucker Carlson's Twitter is on fire getting some insane views yeah um his last episode you know
we know the numbers are inflated 70 million views yeah let's assume that's what
four or five million yeah let's say it's to actually watch the whole thing I say four or five
hundred ten percent yeah yeah even it was ten percent if it's eight million people
yeah that's a banana so he's getting sued right now by Fox yeah putting out this content yeah
and he still put out the third episode yesterday and what's interesting is the second episode
actually dipped the third episode picked up yeah I'm just it's just fascinating how it is so much a
talent driven world in yeah entertainment right now that if you have the eyeballs and you have the
attention like Tucker can piece together 25 on his own 25 million a year pretty fucking easily
he does a podcast he's getting ads oh if he did a podcast he can't do one now because he's still
settling yeah but yeah if he did a podcast he'd be as big as best you do you do a video you
do you tube you do Twitter you do a podcast you have a TikTok you're making 25 these guys just
I know Ben Shapiro is trying it but like there is a new Fox News right here like with Ben Shapiro
Tucker Carlson I know they have daily wire and whatever but like literally
you could be a behemoth in like three years with all the talent that is also aligned with each other
on their views that is all independent yeah crazy wow but yeah they fumbled that one I think
that's not gonna age well I mean I think like like Don Lemon should be putting out content on
Twitter like that too he'll get the views Elon asked him to yeah I saw lefty's just don't play
the media well man they're like no I don't want to do it on Elon's platform whatever it is
it's just like Tesla Tucker's over here smoking you I'll drive the liberal Tesla yeah all day
AOC drives a Tesla does she yes yes that's funny and flies private
what we on my loser my loser you just went with your loser right on him
no he did I actually don't have a loser this week it could be Sean Hannity because I thought
Gavin Newsom on them and I know Sean Hannity Sean Hannity wanted him on so he could just like
gotcha got the liberal and he didn't I was very impressed I mean you should I don't know
how many of the clips he've watched I didn't know he could do that yeah I had no idea he's
been training his whole life to be president I know but my point is I've never seen him in action yeah
well because he's the French laundry nice place yeah me and Gavin
um okay here's a good loser my loser is hip hop music and the reason why is that in 2023 hip hop
has yet to have a number one album or single wow and that's pretty crazy and I'm trying to find
sense when oh since okay this is the longest we've gone into a calendar year without a rap
album at number one since 1993 wow little jerk didn't even go number one no man we got sent in
the discord someone who was attending governor's ball on Friday and they're giving free tickets
out for Sunday basically said if you what came Friday comes Saturday we heard Coachella's
prices for general admission has is dropping next year yeah um I definitely think there's a
an issue with rap in general like we've been talking about it the music is just not there
I actually like little jerks album it's actually really good but um it needs new talent it needs
new stars it needs a reboot it needs fresh energy it feels niche well because like I think
I think like turnover so high Spanish music has taken over like for young people it's so much of
like what's popular and I think country to me is where golf is at country is like a few songs few
to completely breaking in mainstream where you're gonna go to a pop in nightclub I know your
Morgan Wands is getting played at nightclubs already but like you're gonna hear like the EDM
remix of last night at the win yeah it's probably happening already I feel like good blows actually the
best indicator he knows which trends to jump on yeah and he's been famous for 20 years yeah
and he's definitely leaning into country yeah country's gonna have because you're
get you're seeing a new type of person embrace country music it's not it is a city kit is listen
to country music now I mean do I like the idea of golfing listening to country you know
drinking some madello I'm into this and which are Dodge Ram America wraps in trouble yeah yeah
it's just someone the bag though man they they were you know I mean unfortunately I'm
listening to rap my entire life and there's no new rap that I would care about well unfortunately
some of the most talented people are not alive right that's a problem you can't kill off your best
talent yeah and there's no new like who's the new Drake who's the new Kendrick who's the new
Jake Cole yeah other than he could save that he's got the game on his back I finally saw him
filled up on my tiktok after China he's great got it yeah interesting yeah he's interesting I think
people will follow him yeah I mean I remember when 21 Savage first came out we were you know you
guys saw him at Austin South by Southwest yeah we talked about working with him and just to be
honest it seemed insane like it's like this guy with a knife on his face and yeah he's 21 Savage
and look at like and now he's just you know one of the biggest stars that rap had but he he seemed
it seemed it nuts at the time so don't count little my boo out apparently I'm not counting him out
yeah I graduated from high school did well he was very happy he was promoting education on his
tiktok he's like you guys should go to school stay in school and pursue music you could do it all
you love my boo inspiration boo guy do you watch your content for the weekend I actually got to
watch them TV this week because I got at your infection so I had to sit my ass at home nice
and I watched firefly lane it's basically if you're a middle-aged woman that usually likes
lifetime movies this is a great show for you and you loved it I love it that's type of content I
like got it I wonder what your Netflix thinks you are 55 year old white woman in the middle of a
country sure Nate drinking a little barefoot on it what do you got some movie last weekend called
past lives it's a Korean romance story phenomenal is it English parts of it parts of it with subtitles
and it's the woman who was in the morning show that was like the producer I don't know if you
guys remember the Asian woman yeah she's and she's the love interest and man it's funny a little bit
but it's more just like I mean a man it was crying at the end of the movie because it's like
these two different lives these people could have like it's romantic I don't want to spoil anything but
excellent movie I think it's gonna be talked about a lot and it's gonna be on Apple TV soon
or Apple Plus but it's in the theaters today but it's a it's a very powerful movie okay love that
look forward to watching on a plane next summer yeah you're not gonna go with other content sorry
sorry less the content so I think our listeners would appreciate it Freakonomics had RE manual
on their podcast and he's famously known for not doing interviews and you get a full hour
fascinating guy okay I really listen to it yeah I know nothing about him other than the mythology
of our manual that like you hear all these stories yeah but hearing him in long form is very
fascinating okay that's good okay I was gonna say US Open that's boring we talked about it enough so
I'm gonna go more exciting the thing that we haven't talked about on this podcast yet is there
is aliens now I saw that on Twitter so did you see the biggest one yeah is that the one that
went viral yeah so like a UFO landed in Vegas a kid saw it he saw the actual aliens they were
hanging out you know behind his forklift I couldn't even see the aliens I saw the video a hundred
times yeah you can't see him but they're here so now they're here and they're actually in Vegas so
in light of that there's a documentary called Moment of Contact on iTunes about a famous UFO
landing in Brazil and I just like I want everyone to really prep themselves and just kind of be
ready for what's coming you know there was a big UFO conference the other day and now that they're
here and they've chosen Vegas which makes sense as they're you know touched out that's right
ago if I were first yeah coming to the galaxy yeah you see all the lights you like a land here I'm
sure you've heard this drama but on Rogan I heard him tell a story that apparently he's well known
that Nixon was getting drunk with one of his buddies and saying you want to see aliens and he
like opened up the documents and said here the aliens yeah and yeah what did they say
I was you know pictures and pictures of aliens okay god got Martians
yeah so they're here so that's a good documentary and just you know soak it in and you know
whatever aliens are real yeah so just another conspiracy theory that ended up being true
um that's all we got I think we have some shout out we do we do we do quick yep
what do we got from Josh to Savannah happy birthday beyond impressed with how much you've grown
over the years and continue to shine both professionally and personally and thanks for
introducing me to the number one podcast in the entire universe in the entire universe looking
forward to rocking our group chat merch all summer long happy birthday Savannah
all right this next is from Andre to Anand I want to give a shout out to Anand for being the only
pro LGBT voice of reason as a gay listener and someone who knows how dangerous this talk
was when three straight males talk about gay and trans issues with that understanding gay
and trans lives are at risk it's very dangerous and irresponsible I think I'm gonna shout out
Andre I think I'm sure he just didn't even have that much from the name Anand he was like uh Andre
he's coming by the office tomorrow so I love you Andre Andre believe it or not we love you and
that is not true we're all supporters
um and I got a last shout out to uh three good friends of mine Tom Billion Joe over at um
uh the guys list dot com they've been super helpful with a lot of my um brands over the years and
they just launched this awesome new men's site just in time for Father's Day the guys list dot com
it's everything from places to travel to a lot of fashion stuff on you know where you can get
brands and and the prices um it's a huge opportunity so if you're a brand you should hit them up
because especially we're targeting guys the guys list dot com or if you want to get featured
hit them up they're good friends are great guys and uh it's I think it's perfect for uh especially
our listeners go check it out love it okay well there you have it everyone have a great weekend um
take care prep prep for the alien invasion watch some golf get with the time
string some medellio you know just listen to some Morgan Wall and I guess and all the fathers
out there happy Father's Day this Sunday oh yeah happy Father's Day to both of you guys oh yeah
Father's Day look at that thank you okay um all right see you later