💫 Summary
The video exposes Grant Cardone's scam, highlighting how he guarantees a rate of return and unfairly traps clients in contracts. The lawyer explains the differences between Ponzi schemes and pyramid schemes, and warns against falling for the false promises and hidden costs of property investing touted by these gurus.
✨ Highlights📊 Transcript
A lawyer exposes Grant Cardone's scam by highlighting the fraudulent practices and false promises made by his consultancy businesses.
The lawyer mentions that if someone guarantees a high rate of return, it's likely too good to be true.
A woman signed a consultancy contract with one of Grant Cardone's businesses but couldn't afford the monthly payment of $700.
When she tried to terminate the subscription, she was told she had to pay the entire contract of $16,000.
Grant Cardone claims that if his program doesn't work for you, it's your fault and not the program's, which is a characteristic of cults.
Borrowing money can be beneficial in certain situations, such as buying a home or a car, but it is important to have cash reserves and not borrow excessively.
Borrowing money is common for purchasing a home or a vehicle.
Excessive borrowing, like buying real estate with minimal down payment, can lead to financial crises.
Grant Cardone's marketing scheme involves signing up for monthly subscriptions and long-term consulting contracts, which may be considered a scam.
The lawyer exposes how Grant Cardone's company was undervalued and sold at a discount.
Grant Cardone's company was sold for $60 million, but it was worth $180 million.
Grant Cardone argued that he should receive the full $180 million, not just $60 million.
The company litigated with Grant Cardone to keep the extra $40 million.
Grant Cardone's father was released from prison in order to keep the $40 million.
Ponzi schemes and pyramid schemes are similar but materially different concepts.
Ponzi schemes involve using new investors' money to pay old investors.
Ponzi schemes often try to discourage investors from cashing out by artificially inflating investment returns.
Some investors may choose to reinvest their returns, allowing the scheme to continue.
The lawyer criticizes Grant Cardone for making claims he can't back up, calling it fraud.
Making claims without evidence is considered fraud.
Kid Rock's quote about backing up claims is mentioned.
The lawyer mentions the number of views on his channel.
The lawyer talks about a video that got limited monetization due to drug references.
The lawyer exposes the hidden costs and liabilities of Grant Cardone's property flipping course, and reveals how gurus fake credibility as bestselling authors.
Hidden costs and legal implications are not disclosed in the property flipping course.
Gurus like Grant Cardone create an illusion of earning money without putting any money down.
The lawyer made a mockery of the credibility of bestselling authors by publishing a book with blank pages and making it a number one bestseller on Amazon within 24 hours.
The lawyer aims to expose the tactics used by gurus like Grant Cardone to establish authority and credibility.
The speaker discusses his experience with attending church and how people can be judgmental and polarized over differing beliefs.
The speaker mentions that he doesn't have to believe everything that is said in church.
He talks about how he listens to some of the things said in church but also disagrees with some of it.
He highlights that people can become polarized and judgmental over differing beliefs, such as abortion or women's rights.
The speaker discusses the psychology behind waiting times and how it is used to manipulate people's behavior.
By hiding the length of the wait, people are more likely to wait longer.
Con men are skilled at understanding their customers and using psychology to deceive them.
They use tactics like making vague promises and creating a sense of urgency to convince people to sign contracts.
00:00as a general rule if anybody guarantees
00:03you a rate of return it's probably too
00:05good to be true unless that person is
00:08sitting in a bank with a giant sight
00:10over their head that says this
00:11investment is protected by the FDIC she
00:14signed a
00:16consultancy contract with great one of
00:19Grant cardone's consultancy businesses
00:22fertile something like seven hundred
00:24dollars a month
00:26and she got to where she couldn't afford
00:27it to it was twofold once she wasn't
00:29seeing the her business wasn't improving
00:31like she was promised it would and she
00:33was paying close to 800 a month she
00:36tried to terminate her 700 subscription
00:38per month
00:39the sales rep on the phone said you have
00:42to pay the entire contract
00:44sixteen thousand dollars
00:46if you're following my advice and it's
00:48not working for you well then you're
00:50doing it raw it's your fault and if if
00:52you if you think about what you just
00:54said that is one of the characteristics
00:56that we know exists in cults
00:59you did what I said but it's not working
01:01it means you didn't do it hard enough
01:02you didn't do it you didn't you didn't
01:04pay enough money you didn't try hard
01:06enough the issue is you not the fact
01:08that my program doesn't work
01:10it's it's you and so you prepaid for a
01:13service you never got
01:15that you cannot legally enforce and you
01:18bought that service with no intention of
01:20paying back the credit card company
01:21that's fraud if you're going to make the
01:24claims you better be able to back them
01:25up and if you make a claim you can't
01:26back up the legal term for that is fraud
01:30have you thought about like what if
01:31things don't go well for you I was like
01:33I'm sure they'll be fine she goes well
01:34what if they don't go fine I said you
01:36mean like it a year from now I could
01:38barely pay my bills I'm riding the bus
01:40to try and get get to working back and I
01:43said I'm I'm
01:45you know days away from being on the
01:46street or something just yeah I said I'm
01:48going to commit a massive massive fraud
01:51and I'm going to leave the United States
01:52because that's where I [ __ ] up last
01:59hey this is Matt Cox and I am here with
02:02Zach Morgan he uh runs a YouTube channel
02:05called your lawyer friend Zach and so
02:10definitely subscribe to it but we're
02:11gonna be talking to him today about
02:14Grant Cardone and his brother
02:17and I think Grant cardone's
02:20brother's ex-wife I don't know we've got
02:22some stuff to talk about we've got some
02:24things that are happening in the Cardone
02:28and check out the video first of all
02:31what's the first
02:33issue with
02:35Grant Cardone I mean as far as the one
02:38thing I had heard about
02:40I mean just overall
02:42and there are people out there that that
02:45love him
02:46which I don't get I mean I think he's
02:49just over the top arrogant not in a
02:52comical way like I some arrogant people
02:54I find comical like entertaining and
02:57um that they don't really bother me I
02:59typically say like I like arrogant
03:00people but
03:02when you're abusive and it becomes you
03:05know narcissistic and just is pure abuse
03:07it's like
03:09I I don't get it and that's the way I I
03:12perceive him he's sure you know he won't
03:15back down he's abusive he won't
03:17apologize he's running what appears to
03:20me to be like a Ponzi scheme he's having
03:22people invest in
03:24in a business that's supposed to be
03:26investing in real estate and like you
03:29you we had talked about and he's
03:30guaranteeing returns which I'm pretty
03:32sure you're not allowed to do so
03:35yeah but you were saying
03:37yeah so it's so yeah so he's got a lot
03:40of business interests so
03:42um I don't know how many people know
03:43this he's a Scientologist he is
03:46ot8 I believe I can't remember if it's
03:49his wife his ot8 as well that's that's
03:51the highest level of Scientology even
03:53though the bridge to total freedom goes
03:54are like OT 13 or something before L Ron
03:57hover died he only wrote to eight so
03:59nine ten eleven don't actually exist
04:02they claim they do but they don't exist
04:04they were never written
04:06um he's donated and I I'm this number
04:09could be off a little bit but it's
04:10something like 35 million dollars to
04:14over the years
04:15that's on top of the half a million
04:17dollars in 15 years it takes to get to
04:19on top of that he's donated 35 million
04:22dollars so he is
04:23probably the most well-known
04:26Scientologist after people like uh John
04:28Travolta and
04:31Tom Cruise yeah that guy for whatever
04:33reason of all of the most famous I
04:35forget the name right
04:36um yeah so he's he's probably in the top
04:38five most famous scientologists
04:40certainly living Scientologist Kirsty
04:42alley recently died of cancer
04:44um and she was she was a Scientologist
04:46as I understand it but
04:48uh so and he uh he did an interview uh
04:52on a podcast one time and he was
04:53confronted with Xenu and I know I
04:55mentioned zenu before and that's you
04:57know the the sort of the galactic God
04:59and uh this the zenu story is what sort
05:02of made Scientology famous on South Park
05:05so South Park did a Scientology episode
05:07and they talked about Scenic Grant
05:10Cardone was confronted about Zeno uh in
05:13in a podcast interview and immediately
05:15went on the defensive nope stop I know
05:17what you're gonna say and it's just not
05:18true and this and that and the other but
05:19that's the way they're taught to handle
05:20it they legitimately believe that if you
05:22are not
05:23prepared to hear the story of zenu
05:25you're not going to believe it shocker
05:27we don't believe it right there's a
05:30surprise but those who know about it are
05:33basically sworn to secrecy and you are
05:34you have to deny its existence and none
05:36of it's true even though the material
05:38has leaked and we can see it
05:39he also has a variety of uh businesses
05:43that he either owns or is part of or
05:47he has what he calls the 10x program and
05:50if you follow his advice you will
05:51increase whatever your business your
05:54family your whatever 10x 10 times
05:58those are expensive uh subscriptions and
06:01you can go to his seminars and pay
06:03thousands of dollars to see him in
06:06um and I'll give a couple of examples
06:07from a Huffington Post article in a
06:10he also owns and operates or at least is
06:13a part owner in Cardone Capital which is
06:15a real estate investing company
06:17and uh is constantly seeking investors
06:21in which he guarantees returns for
06:23reasons we'll talk about it the
06:24appropriate time you generally can't
06:26guarantee returns if it is a guaranteed
06:28return it's going to be something like a
06:30savings account or a certificate of
06:32deposit that is backed by a federally
06:35insured Bank protected by the federal
06:38and then uh and then his his brother
06:42Gary Cardone and as I believe it's
06:45Gary's ex-wife some of these facts might
06:47be a little bit wrong but the general
06:48synopsis is correct
06:50um they offer owned and operated a
06:53credit card chargeback company
06:55and that was designed to help merchants
06:59people who sell Goods who have Merchant
07:02accounts to take credit cards to help
07:04dispute when a customer would say this
07:07is an unauthorized purchase
07:09as a merchant account holder if your
07:11account gets hit too many times that
07:13account closes and you can no longer do
07:15business out of that account kind of
07:16like to get to me copyright strikes on a
07:18YouTube channel you get demonetized
07:19right right
07:20it is if you become an egregious
07:22offender YouTube says you can't ever
07:24have a YouTube channel ever again if you
07:26become too egregious and offender it's
07:28sort of the same Theory and so this
07:30credit card chargeback company was
07:32helping vendors fight these chargeback
07:35claims give me my money back it's an
07:37unauthorized purchase
07:38it was getting around the merchant
07:41account so essentially what it was doing
07:42is you would pay this credit card
07:45chargeback company say a thousand
07:46dollars and they would charge they would
07:50uh Bill to your account basically pay
07:53you to your merchant account
07:55let's say a 900 one dollar transactions
07:59the merchant account chargeback limit is
08:01based on a percentage of your
08:03transactions not a percentage of the
08:05money so if I can pad my transactions
08:08with thousands of one dollar
08:09transactions if somebody disputes a
08:12fifteen thousand dollar transaction
08:15but that's one out of a thousand
08:16transactions it's not going to flag my
08:18account even though it was for a huge
08:20sum of money it's based on the number of
08:22of transactions not the value of each
08:25okay they were investigated and sued and
08:28a bunch of other things and so that
08:30business has been shut down
08:31and that's that's Grant's Brother Gary
08:33and his ex-wife
08:35uh or it's in the process of shutting
08:37down bankruptcy I forget the exact legal
08:39status but it's certainly it's in a mess
08:42Grant Cardone also has a real estate
08:45investing business where he guarantees
08:47returns if you give me this money I'll
08:49guarantee rates of 5 10 whatever percent
08:51I don't I forget the percentages off the
08:52top of my head
08:54as a general rule if anything I'm
08:57looking right into the camera instead of
08:58it's you to say this
08:59as a general rule if anybody guarantees
09:02you a rate of return it's probably too
09:04good to be true unless that person is
09:07sitting in a bank with a giant sight
09:09over their head that says this
09:10investment is protected by the FDIC
09:14savings accounts that vary interest
09:15certificates of deposit money market
09:18accounts if you see somebody
09:19guaranteeing you a rate of return of 25
09:21percent they're a lie even right now
09:25where the money that we have to pay to
09:26borrow money really high interest rates
09:28at the consumer level banks are still
09:30paying one maybe two percent if you're
09:33because it's a low risk investment but
09:35it's a guaranteed return
09:39real estate can be a very lucrative
09:41opportunity it's been very good to me
09:43and people in my family
09:46um but there's also some downside risk
09:49it's hard to guarantee returns if
09:51everybody pays their rent on time yeah
09:53for sure I'm gonna make money
09:55the first time there's a fire or I have
09:57to replace the carpet or I have to
09:59replace appliances or a renter who paid
10:01a 500 deposit causes ten thousand
10:04dollars worth of damage and I can't sue
10:05them for the difference
10:07so I have to eat that 9 500 that's outgo
10:09that's not a guaranteed return now my
10:11expenses have gone up so a guaranteed
10:14return on on an on a real estate
10:16investment isn't a thing there's always
10:20on any investment unless it's you know a
10:22secure like a a Federal Savings Bond or
10:26you know a savings account or a
10:27certificate of deposit every other
10:29except from those except for those
10:33there's always risk and even
10:34theoretically a Federal Savings Bond has
10:36risk to it because the federal
10:37government could default on their loan
10:39if Congress doesn't raise the debt
10:41if they don't authorize the treasury to
10:43continue to pay the bonds
10:45those bonds become worthless now they're
10:47backed by the full faith and credit and
10:48Congress always gets their act together
10:49just in time but barely
10:52but the bigger issue that I see
10:55is this 10x program there's a there's a
10:58Huffington Post article that I'll be
11:00happy to share with you when we're
11:01finished so you can throw it in the
11:02description if you want to there's a
11:03Huffington Post article that details
11:05examples there was a chiropractor
11:07who was her business was struggling
11:09financially and as a result her family
11:11was struggling financially
11:13she signed a
11:15consultancy contract with Grant one of
11:18Grant cardone's consultancy businesses
11:21fertile something like 700 a month
11:25and she got to where she couldn't afford
11:27it to it was twofold once she wasn't
11:29seeing the her business wasn't improving
11:31like she was promised it would and she
11:33was paying close to 800 a month if I'm
11:35struggling to make payroll I got to
11:37start getting rid of subscriptions
11:39she tried to terminate her 700
11:41subscription per month
11:43the sales rep on the phone said you have
11:46to pay the entire contract sixteen
11:49thousand dollars
11:51she didn't have sixteen thousand dollars
11:52she'd have eight hundred dollars
11:54not settled
11:55shoot I think to the point that she was
11:57even sued
11:59but that ultimately settled for far less
12:01than sixteen thousand for an unknown
12:03that's one example of many that the
12:05Huffington Post claims if people are
12:07paying thousands of dollars to sit in
12:09the front row of these seminars and the
12:11price is different to sit in the
12:12nosebleed seats of these seminars it's
12:13cheap it's cheaper than to sit in the
12:15front row I've never been to a
12:17motivational speaker that had first
12:18class seating
12:21that was your ticket to get in the door
12:23you want front row seats arrive early
12:26it was a flat ticket rate
12:29um and at the end of the day when you
12:31look at all of the business models he's
12:32in from my perspective as a lawyer it's
12:35it appears to be a stamp
12:37part of it is a Ponzi scheme using new
12:40investor money to pay old investors
12:43um part of it is just a scam there's
12:44nothing there you're paying for these
12:46these business uh seminars if you've
12:48ever listened and he makes some of his
12:50stuff available on YouTube you can
12:52listen not to of the full seminar
12:53because he couldn't charge for it but
12:55you hear the high points I haven't found
12:58anything beneficial that I've heard
13:01right I mean this is this is running a
13:05lemonade stand as a 10 year old kid type
13:06of business advice
13:09yeah it's
13:12I I was gonna say you know the thing
13:13about the nosebleed you know seats or
13:15the seating and the thing I I've watched
13:18a video where he was basically insulting
13:20the people that weren't sitting up
13:21fronts that they were basically losers
13:23and I mean it's just like these are
13:25people that pay thousands of dollars to
13:26come see you for motivation motivation
13:28and you're basically telling them that
13:30they're they're all losers like
13:32you know I I understand that people are
13:35motivated in different ways
13:37but I'm pretty sure that
13:40if if the Bud Light debacle didn't teach
13:42you anything you know it's maybe you
13:45shouldn't mock the people that are
13:46paying you
13:48you know maybe maybe you should realize
13:50you know know your audience
13:53and he just
13:54uh you know the the obnoxious you know
13:57oh if you're not doing it if you're
13:59following my advice and it's not working
14:01for you well then you're doing it raw
14:03it's your fault
14:05what you said well you're then you're
14:07just a loser it's like and if if you if
14:10you think about what you just said that
14:12is one of the characteristics that we
14:14know exists in cults
14:16you did what I said but it's not working
14:18it means you didn't do it hard enough
14:20you didn't do it you didn't you didn't
14:22pay enough money you didn't try hard
14:24enough the issue is you not the fact
14:26that my program doesn't work right
14:28it's it's you and so there's a little
14:30bit of a religious cult sort of
14:32connotation to it
14:33um and if you look at the way science so
14:35the way you traditionally progress in
14:39is what they call auditing those of us
14:41who are not a Scientology we would
14:42generally refer to that as counseling
14:44meeting with a therapist or a counselor
14:46to work through these issues
14:48and scientology's whole shtick the
14:51reason they're able to hang on to these
14:53people and get so much money for them
14:54you promote to a certain level and then
14:56they say oh we see an error in your
14:58paperwork you didn't do it right go back
14:59and pay to do it again
15:01oh there's something different the rules
15:03have changed you have to do it again but
15:04you have to pay to do it again
15:06oh it didn't work for you you didn't get
15:08the results you wanted pay to do it
15:09again you didn't do it right the first
15:10time you didn't do it well enough you
15:12didn't try hard enough
15:13that's exact so if you that's what he's
15:16been taught through in Scientology and
15:18now he's charging people
15:20to give them that same advice oh it's
15:22not working my system's perfect if it's
15:24not working it's user error not because
15:26I have a bad product
15:28or maybe even if the product is legit
15:30maybe it doesn't work for you because
15:32it's not the best thing for you maybe
15:34there's another way of doing things
15:35that's better suited to whatever your
15:37problem is
15:44right well you know who it is working
15:47Grant Cardone Grant Cardone
15:50you know you know and he's he's always
15:52taking pictures yeah he's always taking
15:53pictures in his Mansion shooting videos
15:55from his Gulfstream jet
15:58um which you know and he also and I'm
16:00not saying debt is bad
16:03but he he is a he preaches you don't
16:06have to spend any of your money use the
16:08bank's money
16:10use a lender's money there's a time and
16:12place where borrowing money can be good
16:13you know most people don't have the
16:15money to buy a home in cash so they use
16:17a mortgage company to help them buy that
16:19maybe you need a vehicle and you I'm not
16:21saying go buy a hundred thousand dollar
16:22pickup when you make 30 grand a year but
16:24you find something that fits in your
16:25budget and if you don't have that money
16:27saved then you can work with the lender
16:28to help you buy a car
16:30you shouldn't go borrow three million
16:32dollars and buy three million dollars
16:34worth of real estate at one percent down
16:35we saw this in 2008 when the subprime
16:38mortgage Bubble Burst and there was
16:41nothing left over
16:44you could borrow 110 put zero down in
16:47the 80s it was you know the Savings and
16:48Loan crisis you know what I'm saying
16:49like it's it's yeah it's not like it's
16:51the one it's not like there's there's
16:52one example of it I mean it's you know
16:54it's like it happens every 20 years or
16:55so so you know it's it's there's
16:58constant uh examples of it if there's
17:00any fluctuation at all people start
17:02going down like the day titanic so you
17:05know you have to have some cash reserves
17:09um but yeah
17:10well probably so no no no no well part
17:13of the scam that he runs with this 10x
17:15marketing thing you go to the you go to
17:17the convention and then he wants you to
17:19sign up for these monthly subscriptions
17:20uh The Huffington Post article somebody
17:23signed up for a seven year Consulting
17:27the only thing that I've ever guaranteed
17:29more than seven years is a mortgage on a
17:33seven years in consultancy fees like if
17:37your product works
17:39in a very short period of time I
17:41shouldn't need you anymore
17:44if I still need business consultancy
17:46services for the same problem after
17:48seven years
17:50something's wrong
17:52and then when people say it's either not
17:54working or I want out of this contract
17:56or in the case of this chiropractor I
17:58just simply don't have the money to pay
17:59the bill I need to re I need to
18:01reappropriate this money for something
18:03as a business owner I'm adjusting my
18:06and then I call and say I can't make my
18:08payments and they say well they give us
18:09sixteen thousand dollars
18:11I don't have it
18:13and you want to sue me fine I'll go file
18:17which is a whole different issue because
18:19Grant card there's a video Grant Cardone
18:21promoting bankruptcy fraud and when you
18:24if you want to talk about that we can
18:25there's a video of him on social media
18:27that he put out or somebody on his
18:29marketing team put out promoting
18:31bankruptcy fraud right
18:34it it what I mean I want I'd like to so
18:38there's a what's he what's he
18:40essentially saying like preparing
18:42yourself or what are they yeah planned
18:44bankruptcies yeah so yeah so that's
18:46different than the pre-packaged where a
18:48business knows it's it's not gonna be
18:50able to pay its bills so it works with
18:51its lenders and creditors to work out
18:53you know a a settlement it then hires a
18:56bankruptcy lawyer it's pre-packaged and
18:58the judge signs it that's it's big
18:59publicly traded companies especially oil
19:01and gas companies when the price of the
19:03petroleum fluctuates that's happened
19:05that happens in Oklahoma about every
19:07three or five years with one of our
19:08large oil and gas companies here
19:11but so with the bankruptcy fraud what he
19:14says is well if you know you can't pay
19:16your bills anyway you know you're going
19:18broke why don't you go ahead and sign me
19:20up why don't you go ahead and hire me in
19:22my business to be a consultant for you
19:24because you've prepaid for that service
19:26and then you file bankruptcy so now I've
19:30been paid by your credit card company in
19:32put it on your Visa card put on the
19:33MasterCard I paid in full discharge the
19:36debt that you owe to Mastercard or to
19:38visa and bankruptcy oh and by the way
19:41you still get access to these services
19:42so one it's bad faith it's it's it's
19:45fraud and bankruptcy because you're
19:47taking on a debt you know you can't pay
19:50you you have no intention at the time
19:52you enter that transaction of ever
19:54paying Visa back
19:56but secondly
19:58the contract between your business and
20:02the Consulting agreement that agreement
20:05is between you and Grant cardone's
20:06business or between your business your
20:08business and Grant cardone's consultancy
20:09firm when you file bankruptcy if you
20:12close that business and liquidate it and
20:14you open business too
20:16you don't have a contractual agreement
20:18business One debt business one is
20:20bankrupt it no longer exists so when you
20:22pick up the phone and you call to get
20:23those Services they're going to say
20:25sorry your agreement's with business one
20:27right business too so you prepaid for a
20:30service you never got
20:32that you cannot legally enforce and you
20:35bought that service with no intention of
20:37paying back the credit card company
20:38that's fraud
20:42I I hear you
20:48oh gosh what was the uh
20:52what was I gonna say
20:54pulls you to go ahead and do that uh
20:58um so what's okay so if
21:01if he's doing these things so the real
21:04estate company where people are
21:05investing giving him money to invest in
21:07real estate and he's promising them
21:11like why hasn't I mean I understand that
21:14he's been investigated right
21:16well as I understand it he may still be
21:18under investigation
21:20as as you know having been a uh a a a
21:22member of Club Fed for a while right the
21:26federal government and its various
21:28entities the FBI the you know uh Postal
21:32Service inspecting uh the Postal Service
21:36um the bank bank examiners the SEC all
21:39these people they can have
21:39investigations that go on for years so
21:42they know they're larger company the
21:44larger the company the longer it will
21:45take yeah because they want because they
21:48know that they're going to have one shot
21:49at it because as soon as they indict you
21:51you're going to stop all hopefully
21:52you're going to stop all of your
21:54wrongdoing so they want to find
21:55everything you're doing wrong because
21:56they're going to get one big swing at
21:58you and that's it right and the other
21:59thing is that if you're a large
22:01corporation you may mount a defense and
22:04they want to have their ducks in a row
22:05exactly I always tell people the the
22:08feds work differently than the state
22:11so the state comes the state will come
22:13in they'll they'll believe there's a
22:18they will come and arrest you
22:20and then investigate the crime
22:22because a lot of times they can get you
22:24to plead guilty get you to cooperate get
22:26you and they don't they don't have to go
22:27through that whole investigation whereas
22:29the feds will tend to come in and do an
22:31entire investigation before they arrest
22:34you so by the time you get arrested
22:38you're done like when you sit down with
22:40them and start answering questions like
22:41they already know the answers yeah you
22:44know and the state Works differently
22:45because the state has a smaller budget
22:47they can't afford to do to mount a
22:49two-year investigation without you even
22:52knowing it's going on
22:54yeah and then arrest you so because the
22:56feds give out such large sentences and
22:59do such complex cases they have to have
23:01an entire investigation prior to resting
23:04you and a lot of people in the feds will
23:06go to trial and they don't want to lose
23:08well they can't afford to lose you know
23:11um because you know we talked about this
23:13last time we last time we met and that
23:14was the bail Reform Act the sensing
23:16Reform Act these but massive 100 plus
23:18year sentences
23:20you know for years that was just
23:21reserved for a crack crack offenses uh
23:24everybody's familiar with hopefully
23:25familiar with 100 to one
23:27it takes a hundred times more cocaine
23:29powder cocaine to get the same sentence
23:31with crack
23:32right yeah you know they changed that
23:34now it's 28 to one yeah it's still it's
23:37still a whole lot higher but it's a
23:38whole lot better than it was during the
23:40War on Drugs which was incredibly
23:41expensive and not terribly successful
23:43um but that's that's a different
23:44argument for a different day
23:46um you know that's a that's a whole
23:48different animal altogether uh but
23:51yeah so and I've also seen where the
23:53state will start an investigation and
23:55the FEDS are sort of watching in the
23:58and then when the state gets ready to
24:00move on that the feds will come in and
24:01say stop
24:02let us take over the investigation
24:04because this is not just in Florida
24:07this is also in New York and New Jersey
24:09and Ohio and Texas and Louisiana and
24:11Kansas and LA in California
24:14so now instead of you getting 12 to 15
24:17in Florida you're gonna get two to three
24:19hundred and fifty
24:21because they're going to hit all these
24:22states and try you one time for all of
24:24this stuff
24:28so basically Grant Carter may be in
24:31I think he very much is um
24:34you know now he and and here's the thing
24:36he puts on this front that he has a
24:39large net worth he's got you know he's
24:41always got pictures and videos in the
24:42Gulfstream jet which is a 50 million
24:44dollar airplane he's in front of the you
24:46know a multi-million dollar mansion
24:48really high-end exotic cars
24:51but I always ask myself how much of that
24:53does he own and how much of that does
24:54the bank own right
24:57I mean because he he obviously promotes
24:59people going into debt and if he
25:00preaches what he uh
25:04uh if he preaches what uh what he
25:07practices then he's going to be in debt
25:10as well right uh and so yeah I see it
25:12all the time somebody says well uh you
25:14know my wife and I we make good money we
25:16drive piece of junk cars that are paid
25:18for I don't need to impress anybody and
25:20then I've got I see people who are
25:22making 35 Grand a year driving a hundred
25:24thousand dollar pickup they don't own
25:25that pickup they own an 885 a month car
25:29payment for the next seven years right
25:31but they don't own the pickup
25:34it's funny I you know I used to
25:37obviously borrow money from like hard
25:38money lenders
25:40and they would so and this would be some
25:43guy who's got a three he's got he's got
25:45three to five million dollars of his own
25:46money to lend
25:48yeah and you would go and and meet them
25:51at a house and they would pull up in a
25:5315 year old Volvo
25:55you know or or you know an old 20 year
25:58old Mercedes or you know some vehicle
26:01that you're like
26:03I don't know you know like what's up
26:05with that with your car it's like oh
26:07yeah well I've had it forever
26:09yeah you're always driving it yeah I
26:10know do you have another car I'm my
26:13wife's got a car you know what I'm
26:14saying like she's got like a a you know
26:16five-year-old Subaru you know they'll
26:18live in a two million dollar house yeah
26:20but that's different that's real estate
26:22and it's appreciating yeah so they're
26:24not gonna they're not gonna spend their
26:26money on things that go down in value
26:28right and they don't care because
26:30they're worth five million dollars so I
26:31really don't need to impress you yeah if
26:33I want to wear sweatpants to work great
26:35because this 10 million dollar building
26:36is paid for right right like so be it
26:40and there's there's a lot to be said
26:42about that um you know there's a time
26:44and place in which you know leverage can
26:46be helpful but we certainly
26:48um you know when because anytime I see
26:50that I see people driving nice cars you
26:52know if that's how they want to spend
26:53their money fine I'm not going to sit in
26:54Judgment of them but it doesn't impress
26:56me I see a 26 year old driving a G-Wagon
26:58unless you're a professional sports
27:00athlete you probably don't own all of
27:02that you own a very small part of it and
27:04you pay Mercedes Financial a significant
27:06sum of money every month for the
27:08privilege to put the the triangle on the
27:11front of the car
27:15so what do you think is going to happen
27:18well it's so it at some point the feds
27:20assuming he is under investigation at
27:22some points the feds are going to move
27:25um it's going to be both and this this
27:27is also where the feds have a lot more
27:29leverage than States they'll go after
27:31you criminally
27:33and civilly
27:35you and I've talked about any if I get a
27:37short enough sense anybody can manage
27:39five years maybe not in every state
27:40system in the federal system anybody can
27:42manage five years
27:43I'm Gonna Catch 15 I'm a co-op I'm you
27:46know I'm they're gonna they're gonna
27:47charge me for 30. I'm going to plead to
27:4915. I'm gonna cooperate I'm going to get
27:50eight and a half and then get some bonus
27:51time and I'm out in five
27:57civilly they will go after every nickel
28:00you have for the rest of your life and
28:01so it it's the the criminal charge is
28:03one thing but we have seen people who do
28:05time in the in the federal system
28:07criminally and they come out and they
28:09continue to live a very luxurious life
28:11they're able
28:12there's really good very good business
28:14people who even after they get out of
28:16prison they in the in the legit world do
28:20well financially
28:22there's just because you're a convicted
28:24felon doesn't mean you lose the right to
28:25be successful right they got they still
28:28live a great life and have lots of money
28:29that they earned legitimately
28:31where they where the feds get you as you
28:34understand they'll hunt you down to
28:35shake out every couch cushion at every
28:37house you've been to In the last 15
28:38years to find every nickel and they will
28:41break you and ruin you financially and
28:44so the the criminal is one thing
28:46this the the Civil liability the
28:49financial aspect of it is completely
28:52different because the feds will take the
28:54airplane and they'll sell it or what or
28:57they'll keep it and put in their
28:58inventory and use it to go hunt other
28:59bad guys they'll take the car they'll
29:02take the house they'll uh they'll take
29:04the real estate
29:05the government's not in the business of
29:06owning real estate for long periods of
29:08time but they will own it long enough to
29:10sell it
29:11because they have an obligation if he
29:13doesn't file bankruptcy first to take
29:15that turn it into cash and pay the
29:17investors back
29:18which there's never enough money to
29:20repay investors in a fraud but the
29:22investment I was gonna say for one thing
29:25the the
29:26it's what is the name they're always
29:28always attorneys they'll have an
29:30attorney and who liquidates everything
29:33what are those guys call oh the the
29:34trustee like the bankruptcy trustee
29:36right right like a bankruptcy trustee or
29:38even even in you know the case where
29:41it's like a
29:43where they where the FED sees everything
29:45and starts selling it off to liquidate
29:46it it doesn't have to be bankruptcy um I
29:49forget the name of those guys but anyway
29:51they they said they never sell it for
29:54like it it's a three million dollar
29:55house and it gets sold for you know 1.2
29:58million and you're here I mean it's a
30:00three million dollar house it's like
30:01listen bro I put it on the market
30:03somebody bought it it's quick we're
30:05selling it as quick as possible we're
30:07not giving any guarantees we're not you
30:09know so they're not holding out for the
30:10best price you know they're selling this
30:13car for five thousand you're like that's
30:14a forty thousand dollar car like they
30:16sell them at rock bottom prices so
30:18you're thinking like they're not
30:20concerned about getting the best price
30:22they're concerned with getting it done
30:23as quickly and closing out the case and
30:26moving on and and they have a secondary
30:29and not that it's a bad thing I don't
30:30unnecessarily but they have a secondary
30:33interest in
30:34we want to make these investors whole we
30:36want to get all the money we can but
30:38also for every dollar who's short is a
30:40dollar he owes us
30:42so once he's out of out of lockup once
30:45he's no longer incarcerated or if he's
30:46able to plead out a supervised release
30:49we're still gonna own him
30:52until the last day he walks because it's
30:55accruing interest the whole time
30:58yeah I'm not so sure they're concerned
31:00about paying um paying back the getting
31:02the investors back but you know we can
31:05disagree on that so uh yeah well and
31:07it's yeah that that's the argument we
31:09got to pay the investors back no you
31:11need to get rid of this property so you
31:13could just follow this person around
31:14till they die and intercept every nickel
31:15they make right well and I also think
31:17what a you know if you're if I'm the
31:21in charge of selling off all of these
31:24and these guys are you know that they're
31:27selling it to their their sisters you
31:31their sisters husbands you know
31:34brother or something you know what I'm
31:36saying they're selling it to their their
31:37their high school buddy they're selling
31:40it to like trust me there's people are
31:41getting good deals like this oh yeah
31:44um so they're they're just not I don't I
31:46just never when I look at the prices
31:48that they sell these properties for some
31:50of the properties and some of the things
31:51I I knew a guy that had like a gosh his
31:54company must have been worth 180 million
31:57dollars and it got sold for like 40 this
31:59is what's so funny about it I think I
32:01got sold for 60 million he owed listen
32:04he owed like owed the government like 20
32:06million dollars
32:07he had a company that was worth 180
32:10million let's say they sold it for 60
32:15and they said you know okay
32:17you don't know it's a 20 million he goes
32:19well wait a second
32:20what about the other 40 million
32:23you don't get to make money on the sale
32:26You're supposed to give me that to me so
32:28they actually argued with him
32:31and litigated with him that they wanted
32:34to keep the money and eventually they
32:37gave him a sentence reduction in order
32:39to keep the money they let his father
32:42out and let him out
32:43yeah because they didn't want to give
32:45him the 40 million dollars and you
32:46already sold the company
32:48at a discount of a hundred and twenty
32:51million dollars like you you sold it
32:54yeah you sold it for a third of what
32:56it's worth right and and he was he was
32:58Furious like he had evaluations he had
33:01had offers like he don't had offers like
33:03within a year or two before
33:06um he went to trial
33:08and it was it was a medical uh company
33:10anyway the point is is that like I I
33:12every time I've looked into any of these
33:14things where they end up selling some
33:15company or assets it's always it's not
33:18like it's oh it's slightly
33:20undervalued it's absolutely ridiculously
33:24undervalued what they sell what they end
33:26up selling them for yeah so yeah they
33:29they have no independent motivation to
33:30get fair market value they're just going
33:32to get rid of it if it sells for good
33:34money great it's probably not going to
33:36and if you look at the number of if you
33:38look at the bidders who are bidding in
33:39these auctions it's in auctions what
33:41they do they take it to public auction
33:43um and they know it's a public auction
33:45so they know they're going to get it for
33:49you know there's people I mean I know
33:50people who go to government auctions and
33:52they say I'm not going to pay more than
33:54one third of the actual cash value
33:57of this item whatever it is could be
33:59could be a bucket of straws I'm not
34:00going to pay 33 cents I'm not going to
34:02pay more than 33 cents for a one dollar
34:05I'm just not going to um
34:12so Cardone so what so you think
34:14eventually he's indicted
34:16yeah I think he's indicted um
34:19I think it's I think uh at some point he
34:22tries to get a plea agreement
34:26what I have found is in my experience at
34:29least sort of looking in and observing
34:31these cases the people who uh are the
34:34most arrogant the people who walk around
34:36like they've got the the biggest thing
34:37in the room
34:39are the first to run and say what can I
34:42do help me
34:44all right I mean the people who are
34:47running these frauds in these scams
34:48they're all about themselves anyway yeah
34:50no when the gangsters are looking at 20
34:52years like they they roll over on each
34:54other left and right oh yeah they squeal
34:56like a pig I mean we Rudy Giuliani for
34:58all of all of his you know the the his
35:00last decade's been quite a bit quite an
35:02interesting decade for him but the years
35:03before that when he was a U.S attorney
35:05in the southern district of New York
35:07that's how he made himself famous he was
35:09able to round these gangsters up and
35:10flip them
35:12you know in the oath of the kosa Nostra
35:14this thing of ours it's right it's the
35:16omerita the O the the oath of secrecy
35:19we did not we deny it even exists
35:21and now you got people sitting in front
35:24of judges and in front of congress not
35:26only is the mafia real I'm in it and
35:28here's my list of Associates and all the
35:29bad things I did with them
35:31right like
35:35um oh man
35:37um yeah
35:38what a racket though uh to you know that
35:41people are investing in Cardone just
35:45because of the illusion
35:48that he's rich and successful
35:52like and you know success
35:55you know is intoxicating and it's people
35:58admire it
36:00and I I
36:02you know I get that
36:05but I also say it kind of it it kind of
36:07matters how you get it and
36:09it just
36:11I don't know it just it just it just
36:13kills me that like if you were
36:16so successful and so good at this and
36:18making so much money at it why are you
36:21teaching seminars
36:22yeah you know yeah
36:25well and one of the things I find
36:27interesting too something to think about
36:28sort of a thought experiment let's
36:30assume that there's a conviction at some
36:35as part of the pre-sentencing process
36:37even if it's not a crime of violence as
36:39part of the pre-sentence report
36:41Gathering most of the time the
36:43government wants you to go see a mental
36:45health specialist psychiatrist or
36:46psychologists to you know do they have
36:48multiple personality they have
36:49dissociative disorder what are these
36:50what are the mental conditions that
36:52we're working with because not only does
36:54that affect the sentence it also can
36:56dictate the type of services and
36:57resources that these inmates are given
36:59when they get to prison depending on the
37:01nature of of what the diagnosis is
37:03somebody's diagnosed with bipolar
37:04disorder that's somebody who needs to
37:06have uh their mental health regulated or
37:08they pose a violent threat to other
37:10inmates especially if they're in a manic
37:12episode they're certainly suicidal
37:13threats to themselves if they're when
37:15they get to the depressive part of the
37:17bipolar disorder
37:18he's a Scientologist they don't believe
37:21in Psychiatry they don't believe in
37:22Psychology so now they can't force you
37:25to participate in that process
37:26it's also interesting too if you could
37:29negotiate a supervised release but it
37:31required you go to therapy
37:33and comply with the recommendations of
37:35the therapist he wouldn't theoretically
37:37he can't take that plea agreement
37:40well I have a feeling he'll drop the
37:42Scientology the moment just like the all
37:45the all these guys go to prison and
37:47become good Christians and they leave
37:49the Bible at the door you know as
37:51they're walking out like now it you know
37:52to that point you know last time we met
37:54we talked about Danny Masterson Danny
37:56Masterson refused to undergo the
37:58psychoval this the psychological
38:00evaluation is part of his pre-sentencing
38:02report because because of Scientology
38:04and by no measure is he the level of a
38:07Scientologist that Grant Cardone is
38:09Grant Cardone is as high as it gets he
38:11spent all the money there is to spend
38:12there's no higher level in Scientology
38:14the Grant Cardone Danny Masterson may
38:16not have even made it to the OT levels
38:18which is sort of the confidential parts
38:21um Scientology he may just be a general
38:23sort of kind of in kind of out
38:25Scientologist and he wasn't willing to
38:28undergo the psychoval
38:31which which very much could adversely
38:33affect his sentence from his perspective
38:34I was gonna say on so on my pre-trial
38:39on my you know after you do a federal
38:42sentence right like nobody gets 20 years
38:44and gets let out they get 20 years and
38:47they get five years pro um you know it's
38:49pre it's um
38:51supervised release yeah supervised
38:53release sorry I always I would typically
38:55just tell people federal probation
38:56because they don't understand supervisor
38:57then they say Oh you mean parole no
39:04but but materially different yeah right
39:07so it's more like probation yeah they
39:10just kind of watch it so and if you [ __ ]
39:12up you'll go back but they didn't cut
39:14your sentence by a third so
39:16uh on mine I had to go one of the things
39:20that I had to do was I had to go to a
39:23you have to take and pass
39:27a course it's a um
39:30forget what it's called it it basically
39:33it's a it's a criminal thinking errors
39:35course it's a course that helps you deal
39:37with you know with your criminal
39:39thinking with criminal thinking errors
39:41you know you're uh like us whatever
39:44um anyway it's a it's a psychological
39:46course you have to take
39:48so you may get a kick out of this so
39:51here's what happened I go to my first
39:54so first what happens is you have to go
39:57and you're supposed to go like I want to
39:59say it was twice so you had to go for
40:01twice a week for
40:02it was going to be like 12 weeks
40:05so you go like you know whatever you go
40:06Tuesdays and Thursdays for 12 weeks you
40:09finish a little booklet
40:11and you're done
40:13but the first thing you have to do is go
40:14see a psychiatrist
40:16now keep in mind I'd already been on
40:18federal probation
40:19and the first time I was on federal
40:21probation I ran a scam I I
40:25defrauded the banks out of 11.5 million
40:29dollars and then of course I went on the
40:30run for three years and they called me
40:32then I went to prison then I got back
40:33out and now I'm on supervised release
40:37so I get out and they say Hey you have
40:38to take this course you were ordered to
40:40take this psychological course okay
40:43and so I go to so but the first thing
40:44you have to do is meet with a
40:45psychiatrist so I go and I meet with her
40:48and I'm I'm irritated because first I'm
40:50told that I have to go by and meet her
40:52to to sign up for the course that's all
40:54I was told so I I she gives me the
40:56paperwork and I go to I fill this out
40:58you know right now and she goes yeah so
40:59I fill out the paperwork no big deal so
41:01one page it's like you could have you
41:03could have emailed me this
41:05and I fill it out and I give it back to
41:07her and she's okay and I said okay well
41:09so I'll be here Tuesday and she goes oh
41:11wait a minute no no she said we have to
41:12have a session
41:14I said I'm supposed to fill out the
41:17and she and I said no I'm supposed to be
41:19how long is that going to take she just
41:20did be an hour you'll be done in 45
41:23and I was like okay so I sit down and so
41:25you know I don't even want to be there
41:27so we start talking I'm talking and
41:30we're having a conversation about this
41:32about that because you seem agitated I
41:33said well if I didn't think I was going
41:34to be here I'm not supposed to take this
41:36this class
41:38like I didn't think I'm supposed to be
41:39here like I'm you know
41:41I said I shouldn't even have to pay take
41:43the class
41:44you know I had already taken the rdap
41:46program in prison
41:48twice I mean I didn't pass it that's not
41:50the point the point is is I had taken it
41:52twice like I don't you know need this
41:54and so as we go back and forth she's
41:56like how are you doing I was like oh you
41:57know this and that do you have a job I
41:58said Dad
42:00you know try to get a job doing this but
42:01they wouldn't let me do this try to get
42:03a job doing this but I can't do that so
42:04I started telling her some of the issues
42:06I'm having
42:08but I was like I'm doing fine I'm living
42:10in someone's spare room I'm fine
42:12so we're going back and forth back and
42:14we're finally we get to a point where
42:16she says well
42:17you know I said she said do you have you
42:19know criminal thinking at all do you and
42:21I said of course she says well how often
42:24do you think about you know committing
42:25crime I go every day
42:27every day I said there's a house an
42:30empty house next to the house I live in
42:33that was probably a block away that was
42:35probably worth about half a million
42:37dollars because I did live in someone's
42:38spare room but it was a nice house
42:40so I was like it's vacant I said every
42:42time I drive by it I think oh man nobody
42:45like I could pull the I could go and
42:48transfer the D like these people clearly
42:50it's just a vacant house my the woman
42:52I'm renting from said that the people
42:54live like they haven't been to the house
42:56in two or three years I could go and
42:58transfer the title I could change the
43:00lock I could like I could I could easily
43:02pull a million two million dollars on
43:04that house it's like it's like mocking
43:07me and so I'm like laughing about it I
43:08said I think about it all the time
43:10and she just sat there and she was like
43:12okay she makes a little note and then
43:14she said so if you couldn't you know
43:17have you thought about like what if
43:18things don't go well for you I was like
43:20I'm sure they'll be fine she goes well
43:21what if they don't go fine I said you
43:23mean like it a year from now I could
43:25barely pay my bills I'm riding the bus
43:27to try and get get to working back and I
43:30said I'm I'm
43:32you know days away from being on the
43:33street or something just yeah I said I'm
43:35going to come in a massive massive fraud
43:37and I'm going to leave the United States
43:39because that's where I [ __ ] up last
43:42and I sat there and I was like you know
43:43are we done we're done with this are we
43:45she's yeah I think we're good we're good
43:47I said okay so I leave
43:49I get an email from my uh the next day I
43:52get an email from my probation officer
43:54she says good news you don't have to
43:57the course on Tuesdays and Thursdays
44:01instead you'll be meeting with the
44:04once a week for an hour and and she said
44:08for the duration of your probation or
44:12until you show marked improvement
44:15have a good day
44:20we went from one extreme to the other I
44:23realized sent her an email back saying
44:25how [ __ ] up am I what do you mean I
44:27gotta meet with this woman once a week I
44:29think it was once a week I don't think
44:30it was twice a week I had a I should
44:33probably chat anyway I couldn't I was
44:34like I can't believe this uh
44:37and that went on for the first year
44:39thank God covet hit
44:42and I had maybe four meetings with her
44:44and she's like let listen
44:46we're good it's been a year you're not
44:49improving no
44:51no I'm just joking she said she said
44:53you're fine you're good so she let me go
44:54I was like all right cool yeah there's a
44:56time and place in which sarcasm doesn't
44:58always land as well as we would perhaps
45:00like it to
45:01uh I was gonna say this could you
45:03imagine if Greg Cardone has to like
45:05because that a lot of guys they do that
45:07especially con men
45:09they'll make you do like this whole
45:11criminal thinking error course that you
45:13have to take and it's like 12 weeks and
45:15you have to pass a little book you have
45:17to pass a little to fill out like your
45:20you have to work on doing acts of
45:23and I remember these are the kinds of
45:25stories I was telling her I remember
45:27saying I was young I Shelly's an idiot I
45:29didn't punch him in the face today I was
45:30awfully kind but this this was more like
45:34this was this one was more like like she
45:37said look I need you to start working on
45:39doing acts of kindness I was like like
45:40what I was like I'm a nice guy like I
45:42opened the door for old ladies and I I I
45:45I I when I'm at the grocery store I take
45:47the cart all the way back and put it in
45:49the in the little you know in the little
45:51Corral I said I I pick up trash like I'm
45:53gonna I I you know if I see garbage or
45:55something I'll pick it up and throw it
45:56away and
45:57you know and she said yeah but I need
46:00you to you know she gave me some
46:01examples I was like all right
46:02I said I'll work on it so I was jogging
46:06one day
46:07maybe a couple days later I was jogging
46:10and I saw an iPhone on the ground
46:13I leaned over and picked it up
46:16and I called the woman I was renting
46:19from I said hey I still found somebody's
46:20iPhone like this is like a thousand
46:21dollar iPhone
46:23and she said well just hold it keep it
46:25she said they'll they'll eventually call
46:27they'll figure it out and they'll
46:28they'll call I said okay so I start
46:30jogging all the way back I'm probably a
46:33mile away from where I was living
46:36and I get almost back to my house and
46:39the phone rings
46:40and I answered the phone and they said
46:41did you find an iPhone I said I found an
46:43iPhone is this your iPhone they said yes
46:44I said where are you and she said oh I'm
46:46at the corner of such and such and such
46:48and such and I said well this here's
46:49where I am it's about a mile I'm about a
46:52mile away
46:53and she I said okay I said well can you
46:56meet me and she said oh well that would
46:58mean I'd have to cross the intersection
47:01and I went and I thought oh she must be
47:03like old or something
47:05like she can't maybe she said I don't
47:08know I was like I didn't want to ask I
47:10was like no no it's okay I'll go back I
47:12jogged all the way back
47:15she was sitting in like it wasn't a Land
47:18Rover it was um what are those things
47:20the uh
47:21the Jeep uh the one the military drives
47:24but it was like like the Hummers yeah it
47:26was like an H2 though she was in an H2
47:29she was in the passenger seat she I
47:32jogged up there and I'm looking around
47:34at the intersection she hops out walks
47:36over she's got to be 35 years old
47:38she was oh my God she goes oh thank you
47:40grab the phone turned around and walked
47:44not not a lot like it was it was I
47:47barely even a thank you
47:49and I thought
47:50I probably could have sold that iPhone I
47:52could have called a couple people and
47:54probably ended up in 500 bucks or 200
47:56for it she could have easily gone across
47:59the intersection I did
48:01she's 35. she's in an H2 she's got
48:04somebody driving her she's perfectly
48:07and I'm so I told my I remember I told
48:09my um
48:10I told the psychiatrist that and I said
48:12yeah I'm done with that
48:14how can I hide this from me I'll tell
48:17you that
48:18so anyway
48:21well yeah one of the things I wanted to
48:22to talk about briefly people tend to use
48:24the term Ponzi schema pyramid scheme
48:26interchangeably but they're actually not
48:29pyramid scheme oh okay yeah so they're
48:33used interchangeably but they're
48:34actually two different concepts they're
48:36similar but materially different so
48:38Ponzi of course is named after Charles
48:40Ponzi who was an Italian immigrant we
48:42ran him back to Italy he uh he made he
48:44was an entire froster his whole life he
48:47actually uh we turned we gave the term
48:49Ponzi scheme because he was using
48:52um stamps
48:55yeah yeah they were using stamps as
48:57currency because the stamp is worth a
48:59different value in the U.S than it is
49:00overseas and so he was basically telling
49:03people hey if you you know invest in
49:05buying these stamps that I'm sending
49:06them to people overseas but he wasn't
49:08so we a Ponzi scheme is where new uh old
49:12investors are paid using new investors
49:15money right so you have to have a
49:18constant flow of money in order for that
49:21to happen right and you also need only a
49:25small percentage of your old investors
49:27to cash out now one of the ways they
49:29guarantee or they try to guarantee
49:31people don't Cash Out is they give them
49:33they artificially make investment
49:35returns statements look you received 18
49:38well I'm everybody's a little bit greedy
49:42everybody has a little bit of a mean
49:43streak and they say oh 18 man that's
49:45free money I'm just going to leave it
49:46there I'm going to reinvest what we call
49:48the dividend I'm going to reinvest the
49:51you keep it and keep investing it
49:53they're hoping that nobody wants their
49:55money back but that we know
49:57statistically some people do hey I made
49:59my 18 get my 18 out I'll leave the the
50:02original amount in there to keep growing
50:04but I'm going to take my 18 return
50:06and they just need a few people a small
50:09enough people to do that and then they
50:11continue to have new investors Buy in
50:14a pyramid scheme is similar to a
50:17multi-level marketing right like the uh
50:20sometimes they do it with with men's
50:22dress clothes sometimes they do it with
50:24you know weight loss shakes or they'll
50:27do it with
50:28um some sort of you know Business course
50:29or something and I sell to three people
50:33and I give a percentage of my money to
50:35my super to my my manager my manager has
50:38six or eight people working for him or
50:40her and those six or eight people give
50:42their percentage up and then my manager
50:43sends a percentage of their revenue to
50:46the person above them and ultimately the
50:48person to the top makes all the money
50:49and does nothing
50:52um and you know they for for a while
50:54they did it with uh
50:57uh it wasn't Lulu limited but it had a
50:59similar name it was like women's
51:00leggings and stuff I ended up being a
51:02terrible product and you know people
51:04were paying weren't getting what they
51:06were paying for
51:07um and they generally require if I want
51:09to sell this product I have to buy fifty
51:12thousand dollars worth of product up
51:13front right and then it's up to me to
51:15sell it if I can't sell it I'm stuck
51:16with fifty thousand dollars worth of
51:17product that's more you can't sell it
51:19you're just not you're not doing it
51:20right yeah oh okay well you need to buy
51:23more product to incentivize you to sell
51:25more oh this new line of product came
51:27out that's super popular and everybody
51:29wants it but in order to qualify to sell
51:32the super easy to sell stuff you have to
51:34sell so much of the hard to sell stuff
51:36right and these people end up with huge
51:38financial investments and the person at
51:40the Top's already been paid because when
51:42I bought my fifty thousand dollars worth
51:44of material my the person I answered to
51:46and the person the answer to and the
51:47person the answer to and the boss at the
51:49top all got paid
51:50but I'm stuck with this
51:52crap that nobody wants it's the old the
51:55old movie um
51:57uh there was something happiness with
51:59Will Smith
52:02the word happiness was misspelled right
52:04it was same so he was selling this old
52:06Antiquated medical equipment that nobody
52:08wanted and he was finally able to sell
52:11um you know similar concept well he got
52:13the best value by buying 50 of these
52:15units but nobody wanted him he got a
52:16great value because it was Antiquated
52:18Medical Technology right fortunately he
52:20was able to offload them and start his
52:21business but
52:23um but he actually ended up I think he
52:24started with deep Witter and ended up
52:26opening his own um regulated hedge fund
52:28right investment house but
52:30um you know as in that so that's the
52:32difference of Ponzi in a pyramid they're
52:34similar but they're different Ponzi
52:35doesn't require anybody underneath you
52:37one person's making all the money right
52:40and that was that was Bernie Madoff
52:43um using new money to pay old investors
52:45and you're hoping you're gambling on the
52:48fact that you will never have withdraws
52:51that exceed your new deposits
52:54right and so now what the f and so there
52:57are people and they they found this in
52:58the Bernie Madoff situation
53:00people figured out madoff's thing they
53:03figured out this was a Ponzi scheme
53:05so what they did was he would send a a
53:07return that said you made 18 percent
53:10cool you keep my initial deposit you
53:13give me my 18 percent
53:15so their risk was Zero after he got
53:18caught and he got caught by actually
53:20walking into the FBI and saying I'm
53:22running a pyramid scheme but it's out of
53:24money I don't want you to have to hunt
53:25for me here I am he turned himself in
53:28the feds never knew it right he
53:30surrendered himself because looked at
53:32him multiple times yeah the SEC looked
53:35at him forever in fact back in as early
53:37as the late 90s early 2000s a guy who
53:40has all kinds of higher education and
53:42statistics was trying to reverse
53:44engineer his trading scheme realized
53:46that he had to he was actually claiming
53:48he was trading more
53:51um commodity Futures than there were
53:53Commodities on the Commodities Exchange
53:56he was claiming to do more trades than
53:57there were shares to be traded I was
54:00gonna say when um when the state of it
54:03was it was it Chicago where was Ponzi
54:05out of Chicago
54:06I think so yeah or the New York
54:09um it was one of the two he's either
54:10part of the Chicago outfit with Capone
54:12or he was out of New York well when they
54:14when they looked at Ponzi they were they
54:17said and the the
54:19because you know at one point Ponzi was
54:21trying to buy a bank
54:24um you know I think he figured if he
54:26could borrow from the federal exchange
54:27he could just keep this thing going I'm
54:29sorry from the uh from the FED he could
54:30keep this thing going but he at one
54:33point when they were they came to him
54:35like the city officials or whoever it
54:38was they were like look we're not we
54:40don't understand how you're making this
54:41work and he said well I can't tell you
54:44how I'm making it work because obviously
54:46it's like a trade secret and so
54:49they were like the problem was
54:52if the all of the International
54:56Exchange stamps
54:59in that had ever been produced weren't
55:02enough to be paying out the returns he
55:04was paying out like you're paying out
55:06more than has ever been so there's no
55:07way that what you're doing is work is is
55:10real yeah and so um so I mean it's the
55:13same thing it's kind of like jet like
55:14same thing like it there's no way that
55:16Bernie Madoff could be trading in those
55:19Commodities with you'd be trading all
55:20the Commodities ever you know that are
55:22even available to be traded and you'd
55:25still be short you'd still need to trade
55:26more right yeah you'd still need more
55:28options and futures
55:30um it's you so that was
55:32uh you know I I think it is a difference
55:35um and any more of these multi-level
55:37marketing and these work from home sort
55:38of things some of them are legit they're
55:40always huge business risks because if
55:42the product was that easy to sell they
55:44would just have regular sales people
55:46like car dealers have right if the
55:49product was that easy to move you just
55:50have it in Walmart
55:52yeah you used to have a storefront you
55:54just yeah you don't need you don't need
55:56an army pushing pushing that product you
55:59just put it on the put it on Amazon
56:00it'll sell itself it's so if it's so
56:02amazing yeah
56:04um there are there are some legitimate
56:06ones out there I die caution everybody
56:07you know not all of them are bad a vast
56:10majority of them uh even if they're
56:12legitimate businesses like what you can
56:14do that
56:15and well
56:20yeah well so um
56:23I may have to Google it I'm trying to
56:25remember there there was a women's
56:27legging company
56:28um I might be able to jump on edit a
56:32product that's better probably or at
56:35least cheaper
56:36yes but they don't come to your house
56:39they don't gather all your friends
56:41together and bring brownies
56:43you know uh lularoe
56:47l-u-l-a-r-o-e lularoe was the name of
56:51uh and it was a it was a direct sales
56:53multi-level marketing of women's
56:55clothing and
56:57originally the clothing was legitimate
56:59it was decent decent clothing but they
57:02got so big so fast then family was
57:04making so much money like the the sales
57:07people were receiving their shipments
57:08and they were a smelt of mold and mildew
57:10and the clothes were damp in the bag and
57:11they weren't getting the right orders
57:13but then hey I I ordered a large and you
57:16sent me a small it was impossible to get
57:18an exchange
57:19we'll just just sell this just sell the
57:22small okay I'll try to sell the small
57:23but that doesn't resolve the fact that I
57:25still have a large I have to deliver
57:26that I've been right for
57:28I still need the large to satisfy the
57:31even if I could sell the small I still
57:33have this order that I have to satisfy
57:35it's so cool I'll sell the small but I
57:36still need the large well the fact is
57:38they did half of them they weren't
57:39making them they weren't producing them
57:41or you know they were getting them they
57:42were ripping out and they weren't you
57:44know first wearing you got to put them
57:45on for the first time and blow the seams
57:48okay now if assuming you're wearing the
57:50size that should relatively fit you they
57:52shouldn't be blowing out putting them on
57:53right so just just a not a good quality
57:57um and they were investigated and I
57:58forget exactly the outcome but there
58:00were there was some legal involvement
58:01both with the feds and uh both in
58:04criminal and in civil capacities and
58:06and so sort of as a warning you know
58:08there's nothing wrong with trying to
58:09open your own business and better
58:10yourself but you know do your homework
58:14um you know the financials of the
58:16business should be transparent
58:18if I'm if I'm selling for a company I
58:20should be able to find whoever it is is
58:22in charge to say let me see the books
58:24if anybody's guaranteeing you a rate of
58:26return you need to know where's that
58:29guarantee is it backed by the federal
58:30government is it backed by the FDIC
58:32right savings accounts any money in a in
58:36a licensed depository institution like a
58:39up to the single depositor limit which
58:42is a 200 or 250 000 250 000 yeah yeah
58:45250 000 per depositor
58:48that money's guaranteed so even if the
58:51bank fails tomorrow the federal
58:52government through the FDIC will come in
58:54and write you a check
58:56for the amount of money that you lost
58:58up to the single deposit limit so if you
59:01have saved a ton of money and you've got
59:03a million dollars in cash in a savings
59:04account put in four savings accounts
59:07well I mean or invest in something like
59:09Silicon Valley Bank if you have enough
59:11money and you're politically connected
59:13enough they'll still give you the money
59:14even if you have two million dollars in
59:16it in it they'll still give it back to
59:19yeah so yeah so that's that's the that's
59:21the the limit they guarantee 250 or
59:24below but there are times in which a
59:26bank could fail above and they may have
59:29the assets to reimburse that
59:31um back in 2009 I think you're 10 2010
59:34during the Fallout of the subprime
59:35housing failure 60 Minutes traveled with
59:38a bank takeover team and they were
59:41interviewing the head of the FDIC and I
59:43think I assume it's still true today
59:44although the data is a little bit old
59:46since the Inception of the FDIC and
59:48federally insured deposits there has
59:51never been a nickel of of secure of uh
59:54insured money lost every nickel of money
59:57that was insured has been honored
59:59there's never been a failure of the FDIC
01:00:01system and even in areas of even in
01:00:04times of distressed finances of banks
01:00:07like we saw in 2008 to 2010-11
01:00:09even if even when lots of banks were
01:00:12failing and even when the FDIC was
01:00:15stressed financially for cash it can
01:00:18borrow from treasury it's backed by the
01:00:19full faith accredit of the United States
01:00:20the FDIC can't go broke the money is
01:00:23insured every nickel of it to the
01:00:25deposit limit
01:00:26you know it's funny you remember the
01:00:27tarp funds yeah that everybody was
01:00:30saying oh that's it the tarte funds will
01:00:32it'll bankrupt the country it'll never
01:00:34get paid back you know that like nine
01:00:36almost like 90 some odd percent of those
01:00:38funds were actually paid back oh yeah
01:00:42the federal government made money on
01:00:44that yeah so
01:00:46you know everybody was oh it's horrible
01:00:48don't dude it worked
01:00:50yeah you know they would say oh we'll
01:00:51never get that money back no you did get
01:00:54the money back
01:00:56so um yeah you you we as the taxpayers
01:00:59didn't necessarily this didn't
01:01:00necessarily see it in our wallets but we
01:01:03saw in the the the the debt ratio and
01:01:06some other things at treasury I was
01:01:07going to say you saw it in the
01:01:08correction of the economy yeah you know
01:01:10what what would have happened
01:01:12yeah the the the the country is
01:01:15everything is so intertwined I mean when
01:01:18you look at large uh either Union
01:01:20retirements or like the New York City
01:01:22Firefighters retirement fund that has
01:01:24billions of dollars and they say
01:01:25thousands of firefighters
01:01:28right they can't afford for that to fail
01:01:30the bank the firefighting Community
01:01:31can't afford to not have a retirement
01:01:34right so right and so uh when Congress
01:01:37passed harp uh and then they you know
01:01:39the toxic which was toxic asset relief
01:01:43um we're going to buy some of these Bad
01:01:45Assets but you're gonna borrow we're
01:01:47gonna lend you the money so we can buy
01:01:48them from you right
01:01:50and then you're going to pay us back
01:01:51with interest oh and you think your bank
01:01:54is so stable you don't need to borrow
01:01:55from us right now if you have to call us
01:01:57later we're gonna charge you 20 interest
01:02:00so take it at two and a half percent
01:02:02even if you don't need it just pay us
01:02:05and what that did that created by even
01:02:07the big Banks who were financially
01:02:09stable it created consumer confidence in
01:02:12the markets and it stabilized the
01:02:13markets when the markets are stable the
01:02:15financial system is stable when the
01:02:16markets are unstable the financial
01:02:18system is unstable and that's why I
01:02:20don't love it when people tie economic
01:02:23health to how well the stock market is
01:02:26the stock market could be set in records
01:02:28but you may not have a wage that's
01:02:30keeping up with it you may not have a
01:02:32cost of living adjustment that's keeping
01:02:34up with inflation for whatever reason
01:02:35and so when the stock market does well
01:02:38the economy tends to do well but they
01:02:40don't directly map
01:02:41there's also times where people are more
01:02:43financially secure when wall Street's
01:02:45sort of in a panic because they're not
01:02:47borrowing people aren't borrowing money
01:02:49they're trying to put themselves in a
01:02:50financially secure position so if there
01:02:52is a hiccup in the markets my ability to
01:02:55pay my bills is adversely affected so
01:02:57it's sort of it's a give and take and
01:02:59it's sort of beyond my economic
01:03:00understanding I'm not an economist I've
01:03:02studied enough to know that I invest in
01:03:04regulated uh products with a licensed
01:03:08investment manager that's what I do
01:03:09that's how I manage my money I have a
01:03:11licensed investment person who helps me
01:03:13decide what types of products I should
01:03:15invest in based on what I want my my
01:03:17investment goals to be I don't have the
01:03:19luxury of being a private venture
01:03:20capitalist you know I don't know how
01:03:22that you're not a member of the Cardone
01:03:25team no I'm not you know people aren't
01:03:27paying me fourteen thousand dollars for
01:03:29a front row seat for a lemonade stand
01:03:31business advice unfortunately so
01:03:33disappointing you're going to regret
01:03:35that I know all right yeah
01:03:38think about how much I could have made
01:03:39if I'd had just joined the 700 a month
01:03:43um I'm wondering if
01:03:45oh boy I would love to I I if if
01:03:49not that I want anybody to get well if
01:03:52if you're doing if you're not doing the
01:03:53right thing yeah I do want you to get
01:03:54indicted so if Cardone gets that listen
01:03:57he's such a jerk off
01:03:59if he does get indicted you know we
01:04:01definitely have to do another video oh
01:04:03yeah if he gets indicted and he goes to
01:04:05trial the jury's gonna hate hate just
01:04:07just I can't stand him and I'm not a
01:04:09juror right and and I've tried enough
01:04:12jury trials that I sort of understand
01:04:13how the general populace thinks and
01:04:16there are some outliers to this nobody
01:04:18likes a jerk yeah it's one thing to be
01:04:21arrogant and you know somebody said one
01:04:22time it ain't bragging if you can back
01:04:24it up the problem is he's not backing it
01:04:25up right
01:04:27if you're gonna make the claims you
01:04:29better be able to back them up and if
01:04:30you make a claim you can't back up the
01:04:32legal term for that is fraud
01:04:35to give us Kid Rock that said you know
01:04:37it's not it was not you know because
01:04:39you're not it's not cocky if you can
01:04:42back it up yeah yeah yeah yeah uh I
01:04:46ain't lied if I done it right right the
01:04:48problem is he ain't done it yeah
01:04:52right anything else you want to go over
01:04:54I think that's it man had a good time
01:04:56all right all right this is a good one I
01:04:59like it
01:05:00well I'm in our last video Let's see
01:05:02what you know where are we at it's like
01:05:0412 000. listen for my channel that's not
01:05:06bad might be more now
01:05:09I think it's still going it was only
01:05:10four days ago
01:05:12it's pretty good
01:05:14I think so
01:05:16I'm looking at my uh
01:05:18uh oh
01:05:24um I'm looking at my uh
01:05:28yeah I'm showing 13 000 on mine and I
01:05:30don't have the admin end of it but I
01:05:32show 13 000. yeah I was gonna say I
01:05:34don't I just saw something here for
01:05:36Colby one of my videos that I told him I
01:05:39knew it was gonna get limited
01:05:41monetization because this guy he kept
01:05:45saying the different different names of
01:05:47different drugs
01:05:48you know this drug and that drug and
01:05:50this drug and I was like and we put it
01:05:53up and Colby's like hey it went up it's
01:05:54fine I was like huh that's that's crazy
01:05:56like I really never thought it would
01:05:58like I had to do the intro on it I did
01:06:01the intro myself I did Bleak for in
01:06:03order for me to get the intro to not be
01:06:06limited monetization I had to bleep out
01:06:09every single word
01:06:11every word
01:06:12that was you know he talks about you
01:06:15know some guy got shot beep you know
01:06:17that they had yeah the one guy had a
01:06:19pistol so so the guy's inside and he had
01:06:22a gun beep beep I had to beep out like I
01:06:24went through and I kept uploading it I
01:06:26would beep out several things upload it
01:06:27beep out several things upload it until
01:06:29finally I'd be I beeped out every single
01:06:31curse word or any word to do with
01:06:33weapons or shots beat them all out and
01:06:36finally it passed so we put it up and it
01:06:38was green we're like he was like okay
01:06:39it's good and I was like and sure enough
01:06:42I just looked it just changed the
01:06:43limited sometimes it takes a few days
01:06:45for the algorithm to
01:06:48so we're gonna have to go he we gotta go
01:06:51through and bleep out some more words
01:06:53you gotta figure this out
01:06:55because that's a good video I want it
01:06:57full monetization well sure I mean I
01:07:00love doing this but I'm not but it's
01:07:02easy I have to it's got to be it's got
01:07:04to pay my bills yeah it's not a hobby
01:07:05it's an occupation no I need this dude
01:07:07this is a full-time gig yeah
01:07:10all right
01:07:12so your channel you said your channel
01:07:13got did did well after our last video it
01:07:16it did yeah it did in fact um just since
01:07:19we jumped on I've had 20 new viewers
01:07:21nine 20 new 20 new Subs just and we're
01:07:23not even live so I've had 20 new viewers
01:07:26or 20 20 new subs and I had a bunch of
01:07:28comments folks coming over from hey you
01:07:31know I found my way here after after
01:07:33watching you with with Matt so
01:07:36yeah nice yeah yeah so I you know I I
01:07:41enjoy it I I I've practiced enough lies
01:07:43I have a pretty good perspective on a
01:07:45lot of things
01:07:46um and I you know I try to and I try to
01:07:48be honest to say you know I don't know
01:07:49enough about that to have an opinion and
01:07:50I've told some folks I've turned down a
01:07:52couple of podcasts just because they
01:07:53asked me to talk about something I
01:07:54didn't have enough confidence to feel
01:07:56like I was adding anything to the to the
01:07:58conversation right
01:08:00yeah okay going on just for the sake of
01:08:02going on isn't always the right thing
01:08:03you need to be I need to make sure that
01:08:05whatever I'm doing is adding value to
01:08:07whatever this person's
01:08:09you know Mission or mission is
01:08:11hey I appreciate you guys uh watching
01:08:14and make sure to go over to Zach's
01:08:17Channel And subscribe to his channel uh
01:08:20we'll leave a link in the description
01:08:22it's your
01:08:23lawyer friend Zach is the name of his
01:08:26channel so go over there and check out
01:08:29his videos hit the Subscribe button also
01:08:31if you like the video that we just did
01:08:34share the video subscribe to the channel
01:08:36hit the Bell so you get notified leave a
01:08:38comment and I really appreciate you guys
01:08:41uh checking out the channel
01:08:43see ya hey this is Matt Cox and I am
01:08:45going to be interviewing Mike win it
01:08:48Mike winnett is an entrepreneur and he
01:08:51had a YouTube channel which we're going
01:08:52to talk about
01:08:54uh called entrepreneurs and super
01:08:56interesting story so check it out so
01:09:00your English
01:09:02you can tell by my complexion right well
01:09:05I and yeah the accent and I I know you
01:09:07when we've spoken before we we spoke
01:09:10what like like two years ago I think
01:09:11like a year and a half years ago
01:09:13and when you were starting the whole
01:09:15um the entrepreneur YouTube channel yeah
01:09:19yeah the Glory Days yeah the the fake
01:09:22gurus and the whole thing and I was
01:09:24going to be kind of like a kind of like
01:09:26a a fraud con man expert that kind of
01:09:30yeah so originally we were going to talk
01:09:33um walking and talking through how the
01:09:35fraud works and how some of these scams
01:09:37work and yeah but things happen with
01:09:40that channel which caused me a lot of
01:09:42grief because obviously people that make
01:09:44a lot of money through frauds and scams
01:09:45often don't like people exposing and
01:09:48talking about the tactics they use so it
01:09:50caused me a lot of grief both
01:09:52professionally and personally really so
01:09:54that's why the channel I took a year
01:09:56break I didn't upload anything for over
01:09:58a year let it all die down a little bit
01:10:01and I only started
01:10:02um uploading again six weeks ago so for
01:10:05the first time in over 12 months I
01:10:07started uploading again so okay are you
01:10:09kind of dialing it back a little bit
01:10:12yeah well you were actually going to
01:10:14like you were going to these seminars
01:10:17and really doing like almost like an
01:10:19expose type thing yeah so what I
01:10:22actually did was so I was lucky enough
01:10:23that um I had a real business and I
01:10:25scaled that business and sold it for 11
01:10:27million dollars in 2017.
01:10:30well let's let's jump back for a second
01:10:33I'm sorry so you were born in England
01:10:34raised in England educated in England
01:10:38uh and yeah whatever well Kai watch I
01:10:40was born in Germany my dad's a soldier
01:10:42so my dad was posted overseas so I was
01:10:44born in Germany and then I went to my
01:10:46schooling in England essentially and
01:10:50um as I got older I got into sort of
01:10:52sales I went to university did agree in
01:10:54criminology did a degree in criminology
01:10:56then got out and then when I realized
01:10:59what you actually get paid for studying
01:11:01for four years and what the job they
01:11:02want you to do it didn't really tally up
01:11:04so I ended up like most people where I'm
01:11:07from working in a call center and then
01:11:09doing Telly sales
01:11:12um most people do that where we're from
01:11:13it's quite a there's lots of call
01:11:15centers around here and that was the
01:11:17first time I'd ever
01:11:20um got paid to turn up to work so he's
01:11:21get a basic salary but then I'd also get
01:11:23paid if I was actually good at my job so
01:11:25I'd get paid commission and it kind of
01:11:27blew my mind that I'm getting paid twice
01:11:29here so I did quite well
01:11:31um through
01:11:32sales and then I always felt like I
01:11:35could have my own business so I left
01:11:38my job and then started working in
01:11:40startup businesses and I I worked in two
01:11:43startups for six and a half years
01:11:45and but with the sole intentions just to
01:11:48learn the skills about business that one
01:11:50day I'd feel confident and comfortable
01:11:51enough to set up my own business I was
01:11:54age 29 I quit my job
01:11:58I was on 70
01:11:59000 UK pounds maybe close to maybe a
01:12:02hundred thousand dollars a year job and
01:12:04I had a baby on the way but I felt
01:12:07confident enough to start my own
01:12:10business so I quit my job just one
01:12:12morning came home
01:12:15and I told my wife at the time that we
01:12:19were I'd quit and she said what are you
01:12:21gonna do now and I said I don't know but
01:12:22I've got six weeks to work it out
01:12:24because my company paid me garden leave
01:12:26they call it aware you can't work for
01:12:28anybody else but they pay you to make
01:12:30sure you don't steal data or customers
01:12:32or anything like that and in those six
01:12:35weeks I wrote down
01:12:38um 10 million pounds it was was my
01:12:41target 10 million pounds in three years
01:12:43and I wrote a business plan backward
01:12:46plan the business
01:12:48um and then just executed that plan in
01:12:50two and a half years later I got offered
01:12:53eight million pounds which is 11 million
01:12:54it's 11.1 million dollars and sold my
01:12:57business to an American company actually
01:12:58the the cruel twist in all of this
01:13:02that company that I started was resold
01:13:05again just last week for one billion US
01:13:08dollars so the company did I sell it too
01:13:11yes I did well maybe you know maybe but
01:13:16you never know what and that's what
01:13:18happened so when I saw when I sold my
01:13:20business it was a it was really good
01:13:22terms for me they basically wanted me
01:13:24from the day they inquired to when they
01:13:26um give me the money was 32 days and
01:13:29they wanted me to leave the business
01:13:30that day so they wanted me to pack up
01:13:33myself and go
01:13:34um but they also put something in that
01:13:35contract which was I couldn't do the
01:13:37same thing or in that same industry for
01:13:39two years to protect their investment
01:13:41right a non-compete yeah so what
01:13:43happened was
01:13:46what was the business do you mind me
01:13:48asking yeah so it was called learning
01:13:50Heroes which has been renamed to litmus
01:13:52Heroes which was then bought by sap
01:13:54they're like one of the biggest
01:13:55education companies in Europe now
01:13:57probably the world but essentially it
01:13:59was online training content for big
01:14:02corporate clients we actually had some
01:14:03American clients
01:14:05um Arby's was one of our clients so you
01:14:07know the fast food restaurants yeah yeah
01:14:08so they would use some of our training
01:14:12content so how to meet and greet people
01:14:14at the till how to upsize an order from
01:14:17regular to large so they would watch my
01:14:21videos and content and use that to train
01:14:23their staff so we did that but we did
01:14:25that for lots of corporate companies in
01:14:28the UK mainly and Australia
01:14:30English-speaking world but why we were
01:14:32unique was back in those days
01:14:36all our competitors try to tie companies
01:14:38into long contracts price per head price
01:14:42per course and we just basically came
01:14:45along and said it's 500 a month it's for
01:14:48unlimited users in your business and it
01:14:50hadn't been done like that before we
01:14:51used to create new content every week
01:14:53and uh we grew to 340 customers paying
01:14:57us 500 a month
01:15:00and we then sold the business
01:15:02my plan was to just get in get out
01:15:04really quickly I had no interest in that
01:15:05sector I didn't have a passion for it I
01:15:08didn't even enjoy it I didn't want to be
01:15:10known as the e-learning boy I literally
01:15:13wanted to earn
01:15:15a lump sum of money so I could then
01:15:17invest in stuff that I was interested in
01:15:19stock shares properties and I thought
01:15:22that would give me the best vehicle so I
01:15:24created an industry I had no knowledge
01:15:26a business in an inch had no knowledge
01:15:28of no passion no experience it just
01:15:31suited the model that I look for which
01:15:34is can you be disruptive can it be
01:15:36subscription based can you provide a
01:15:39real alternative can you get in get out
01:15:41can you you know blow your competitors
01:15:43away could you cause enough problems to
01:15:46people that they might want to purchase
01:15:47your business to stop you damaging their
01:15:49business and that was what I did
01:15:53so I'm one of the lucky ones yeah right
01:15:57I I can see that so but okay from there
01:16:00you kind of you how did you take the
01:16:04from transitioning from saying hey I'm
01:16:06an entrepreneur I've got I've got I've
01:16:08got a nice chunk of money I want to
01:16:10reinvest that but I'm also stuck where I
01:16:12can't compete with this company and
01:16:14instead you turned around and you went
01:16:15like to me it's just completely well
01:16:18it's it's still education based yeah it
01:16:20was just accident really so what
01:16:22happened was like I'm A working class
01:16:24kid like not many of my friends would go
01:16:26and do the same thing that I did not
01:16:27anybody many people that went to my
01:16:29school would do what I'd just done in
01:16:32and I mistakenly believed that there
01:16:35would be experts online that could help
01:16:37somebody that wasn't very Savvy with
01:16:39investing right so I would search for
01:16:42people online to say you know should I
01:16:45invest in crypto should I invest in
01:16:49um whatever it might be stocks and
01:16:50shares should I invest in property
01:16:53and bear in mind I did all this stuff
01:16:55with my business with no social media
01:16:57I'd never had social media at all before
01:16:58this point I owned I was only on
01:17:01LinkedIn so I did it without building a
01:17:02brand or being known
01:17:04um I just worked I just was on LinkedIn
01:17:06so and then I discovered that on
01:17:10Instagram and on YouTube and on Google
01:17:13the world is full of 23 year old Lambo
01:17:17driving experts in business that could
01:17:20promise me more wealth than I'd ever
01:17:21seen before in 60 days 90 days if only I
01:17:25would buy their course and you know what
01:17:28it was
01:17:28I just found it fascinating I thought
01:17:32wow I thought I was smart by setting up
01:17:35a business and selling it two and a half
01:17:36years later from 11 million dollars a
01:17:38bit of had only just done Chad's course
01:17:40I could have been working four hours a
01:17:42week from the beach right I I've been an
01:17:45idiot here actually working hard
01:17:46employing people paying loads of tax and
01:17:49grafting for six days a week for two and
01:17:51a half years so it was curiosity that
01:17:54got the better of me and I just thought
01:17:57I've got a little lump sum of money here
01:17:59I wonder how many people out there are
01:18:02hoping that Chad the 24 year old Lambo
01:18:04driver is telling the truth and would
01:18:07drop uh money on a credit card to buy
01:18:10his course and I thought
01:18:12I'd do a little bit of research on these
01:18:14people and essentially I found two camps
01:18:17of people number one those that said
01:18:19everything's a scam everything's fake
01:18:21don't trust these gurus
01:18:23but then there was other people that
01:18:24were saying this is the best thing it's
01:18:25changed their life and they've become
01:18:28millionaires obviously most of those
01:18:30people saying that are probably selling
01:18:32you the same [ __ ] or a part of the scam
01:18:34right so I just thought
01:18:36there doesn't seem to be anybody out
01:18:38there or maybe they were going to be
01:18:40successful in the skin taking that
01:18:42question didn't do anything for them
01:18:44exactly because that's all no matter
01:18:45what they were doing yeah exactly right
01:18:48because the stats will say if there's a
01:18:49thousand people in a room
01:18:51all pain to be there and one in 500
01:18:54people go on to become millionaires two
01:18:56people in that room might go on to be
01:18:57millionaires the next few years right it
01:18:59doesn't necessarily mean it's that
01:19:01guru's cause that's done that they had
01:19:03it in them already
01:19:04the scary stat is 499 people have took
01:19:07that course and failed and in any other
01:19:10industry if you had a product with a
01:19:13success rate of 0.2 percent or whatever
01:19:15the stats are it would probably get
01:19:17pulled from shells and be told it wasn't
01:19:19right for consumption or it shouldn't be
01:19:21used but weirdly in the world yeah but
01:19:25but exactly but really in the wealth
01:19:27creation space
01:19:29there's enough gray areas and it's not
01:19:31regulated enough that people can make
01:19:33wild claims and put out a subpar product
01:19:37um and they can get away with it so I
01:19:39just ring fenced five hundred thousand
01:19:41dollars and I thought I'm going to click
01:19:43on every advert I see
01:19:46buy that person's course do the course
01:19:49and reveal what my actual results were
01:19:51from actually doing their course so
01:19:52while they're saying you can earn six
01:19:54figures in 90 days I will do it and then
01:19:57reveal that I only earn 200 or 300 and I
01:20:01was someone that actually knew how to
01:20:03run a business so if I can't achieve
01:20:05these things having actually grown and
01:20:07scaled the real business right what what
01:20:09hope has somebody that's a stay-at-home
01:20:11mum that's never had to deal with
01:20:13business before what I hope has she got
01:20:16of becoming a Drop Shipping Guru uh
01:20:18sorry Drop Shipping or affiliate
01:20:20marketing or a crypto
01:20:25I saw the one you did on flipping out
01:20:27where you bought some houses yeah yeah
01:20:28and it's great you know when they're
01:20:30talking about the numbers when you're in
01:20:32the course everyone's going to become a
01:20:34property millionaire but the actual
01:20:35reality is there's so many hidden costs
01:20:37there's so many things that they don't
01:20:39tell you about there's legal things tax
01:20:42implications so don't be fooled by these
01:20:45you can earn 10 grand a month from
01:20:46property by putting no money down you
01:20:49need to put money down
01:20:51you need to pay that money back to
01:20:53wherever you've got it from then
01:20:56you know there's lots of liabilities and
01:20:58stuff so I just did it because it it
01:21:00interested me I thought it might help
01:21:01somebody and I kind of found it funny if
01:21:04I'm honest right
01:21:06that people were falling for it or
01:21:09both really because sometimes I thought
01:21:11like this is so ridiculous how are
01:21:13people still spending money with these
01:21:17um and then I started to break down
01:21:18their actual process and go into how
01:21:20they sell things and how do they
01:21:22establish Authority and credibility and
01:21:24even that then I started to one pick so
01:21:26an example was most of these gurus are
01:21:28best-selling authors because it gives
01:21:30you a certain level of credibility right
01:21:32right but then I worked out exactly how
01:21:35they achieved that thing and instead of
01:21:37just doing a video to explain
01:21:39so this is how you can fake credibility
01:21:41and become a best-selling author I
01:21:43thought I would make a mockery of it and
01:21:46I produced a book that just said blank
01:21:48page on 144
01:21:51blank pages I uploaded it to Amazon in
01:21:56the business section and I got that book
01:21:58to number one on Amazon within 24 hours
01:22:00so I'm an Amazon best-selling author
01:22:02with a book
01:22:04um that was top of the charts it was
01:22:06pushed by Amazon as the hot new release
01:22:08of the day it was used as the actual
01:22:10image for the business section and it
01:22:12didn't have any words in it said blank
01:22:15page it took me one day so but then I
01:22:18would make a video on that to show
01:22:19people listen don't be impressed by a
01:22:21best-selling author if they promise you
01:22:23riches and wealth I can do it with a
01:22:25blank book in 24 hours so is it really
01:22:28as hard as you think it is and that's
01:22:31what I started to do every week I would
01:22:32just find something funny from the world
01:22:34of gurus
01:22:37um experts and
01:22:39um sort of the wealth creation industry
01:22:41and I'd kind of expose it but I thought
01:22:42I did it in an amusing way yeah now I
01:22:45thought it ruffled a few feathers right
01:22:48right because now all of a sudden people
01:22:50were getting annoyed because they were
01:22:52saying well
01:22:53you know why are you saying that to scam
01:22:55you're saying everything's a scam well
01:22:56I'm not saying everything's a scam I
01:22:58just don't think that
01:22:59your course is going to make how many
01:23:01millionaires has your course really made
01:23:02show me the stats
01:23:04um but the interesting thing by the way
01:23:07I talk about this quite a lot
01:23:09what's weird about business and making
01:23:11money and creating wealth people's sort
01:23:13of com I don't know what you call it
01:23:15like logic or their thought process
01:23:17suddenly [ __ ] but if you replace
01:23:19business or entrepreneurship or Drop
01:23:21Shipping or affiliate marketing or
01:23:23crypto whatever the thing is that
01:23:24they're selling if you replace it with
01:23:26sports and then think of the exact same
01:23:28advert with the same logic and language
01:23:31but apply it to sport so imagine there
01:23:33was an advert that showed up on YouTube
01:23:35now that said
01:23:36win the PGA tour in 90 days whether
01:23:41you've never
01:23:42picked up a golf club or hit a golf ball
01:23:44now we would all see that advert and
01:23:46it's it's
01:23:471997 and it's by a guy that you'd never
01:23:50heard of before yeah and it's not and
01:23:53it's obvious you would immediately say
01:23:55so you would sit there like what the
01:23:57[ __ ] how does that work but then as soon
01:23:59as you replace that with
01:24:02um six-figure salary in 90 days in Drop
01:24:05Shipping even if you don't know how to
01:24:07work a computer
01:24:09people click that advert and they will
01:24:11spend that money with it but being in
01:24:13business and being in entrepreneurship
01:24:14is like an elite level sport you've got
01:24:16to have done your reps you've got to
01:24:18have worked in business before you've
01:24:20got to understand some basic
01:24:22fundamentals you know I started my
01:24:25business after working in startups for
01:24:27six years it took me six years of
01:24:29learning for me to even think I had a
01:24:32chance of being successful and earning
01:24:34six figures
01:24:35I don't understand why people think they
01:24:37could do Chad's course in 48 hours and
01:24:39become a millionaire but weirdly
01:24:41millions of people buy this thing it
01:24:44sounds good you know and people do know
01:24:46like it's funny because I used to teach
01:24:49a real estate class right like in prison
01:24:51but I and I I was you know you know I
01:24:54was in prison for mortgage fraud uh and
01:24:57related to real estate so I ended up
01:25:00teaching the real estate course for 10
01:25:02years and everybody in there wanted to
01:25:04flip houses they all they buy and sell
01:25:06houses buy them cheap fix them up and
01:25:08sell them and I would go in and I would
01:25:11tell when I taught that that I went over
01:25:13maybe took a couple days and went over
01:25:15that a couple of different uh classes
01:25:17and I would go in and I would explain
01:25:20one time I bought a house not one time
01:25:23shoot this is over and over again I
01:25:25bought a house for fifty thousand
01:25:27dollars I put twenty thousand dollars in
01:25:29it I sold it for a hundred thousand
01:25:31dollars how much money did I make and I
01:25:33said that's a true statement I really
01:25:35did that like I did that all the time
01:25:36but you know I'm saying that that's
01:25:38exactly everything I just said is true I
01:25:41may go man you made thirty thousand
01:25:42dollars said no I didn't
01:25:45what I didn't tell you was how much the
01:25:47closing costs were that I had to help
01:25:49the guy with his down payment that I had
01:25:51to pay the closing costs for the
01:25:53borrower that I had you know I'm saying
01:25:55you start adding all that up and the
01:25:56next thing you know you didn't make
01:25:58nearly what it and I had to pay all of
01:26:00the the carrying costs for the loan that
01:26:03I bought I had to pay the points I had
01:26:06to pay that so you start adding it up
01:26:07and it's like you didn't make 30 you
01:26:10made nineteen thousand and it took four
01:26:14you know and it was it was Agony and I
01:26:17was going out to the property over and
01:26:18over again you don't talk about how the
01:26:20kids knocked the little kids in the
01:26:23neighborhood through rocks through the
01:26:24windows or you got three air
01:26:25conditioning stolen and a guy fell off
01:26:28your the roof and you're still waiting
01:26:30for him to sue you
01:26:32so you know it always like you said it
01:26:34always sounds good like because that's
01:26:37the headline thing because imagine you
01:26:38did an advert imagine that was your
01:26:39advert for your property course by the
01:26:41way how to potentially earn nineteen
01:26:44thousand dollars after four months being
01:26:47um right you're probably not going to
01:26:49get many clicks on your advert but
01:26:50that's the reality and that's all I
01:26:52wanted to do I wanted to provide some
01:26:54sort of realism and balance to a lot of
01:26:56these Grand claims by ironically the
01:27:00difference is you'd bought and sold
01:27:01houses there right yeah but a lot of
01:27:03these people that sell property courses
01:27:05especially in the UK don't actually make
01:27:08their money through buying and selling
01:27:09houses they make their money through
01:27:10selling courses on how you can buy and
01:27:12sell houses they don't even do the thing
01:27:14that they're now trying to teach you and
01:27:16tell you how much money you can make now
01:27:19from a logical business point of view if
01:27:21I had a property course based in
01:27:24in the north of England if I made a
01:27:27hundred thousand dollars or a hundred
01:27:28thousand pounds a month through
01:27:30investing in below market value
01:27:32properties and that's how I made my
01:27:34money I wouldn't spend my weekend
01:27:37teaching people how to compete with me
01:27:40in my own Hometown right for 37 the
01:27:44numbers don't stack up you're turning
01:27:46your customers into competitors
01:27:49just from a business point of view most
01:27:51of these people telling you how to do
01:27:53the thing they're only selling you the
01:27:54course because the real money is stopped
01:27:58they can't you can't make money like
01:28:00they're claiming nowadays because if
01:28:02they could they'd be doing that
01:28:03full-time he built some of the nation's
01:28:05largest banks out of an estimated 55
01:28:08million dollars because 50 million
01:28:10wasn't enough and 60 million seemed
01:28:14excessive he is the most interesting man
01:28:17in the world
01:28:19I don't typically commit crimes but when
01:28:21I do
01:28:22it's bank fraud
01:28:26stay greedy my friends support the
01:28:28channel join Matthew Cox's patreon
01:28:31but everyone wants to escape the rat
01:28:33race and anybody telling you a shortcut
01:28:35to escape that in the shortcuts of
01:28:37riches will always do well but the irony
01:28:39being if we look at anybody in life
01:28:42that's successful and I mean like truly
01:28:43successful and it could be business gym
01:28:45music whatever it might be
01:28:48The Rock
01:28:49do you really think the rock is on
01:28:51YouTube looking for videos on how to
01:28:53build the perfect chest in the next 30
01:28:56or do you think the rocks at the gym
01:28:58building the perfect chest right and
01:29:00it's taken him years when you see people
01:29:03in business I've never ever met Jeff
01:29:05Bezos Mark Zuckerberg
01:29:09um Steve Jobs R.I.P but I've never met
01:29:10any of these people at any of these
01:29:12events I'd never met any truly World
01:29:15Well world-renowned Guru
01:29:18tell me that the secrets of their
01:29:20success was just working four hours from
01:29:23the beach from their laptop but all
01:29:25these courses that's what they all say
01:29:27or that I took I I made Mill I'm making
01:29:30millions right now how'd you do it I
01:29:32took Grant cardone's course yeah no one
01:29:34the only people that say that they took
01:29:36Grant's Cardone course and make money
01:29:37are people that ironically are affiliate
01:29:39sellers for Grant card owns course right
01:29:42and and so say Grant Cardone is the
01:29:47I was offered a testimonial from Grant
01:29:49Cardone for my fake business that I made
01:29:52up for a fake product that didn't exist
01:29:54for twenty five thousand dollars
01:29:56I was approached by one of his
01:29:58Affiliates that said uh we'd love to to
01:30:01give you a testimonial from Grant to say
01:30:04that we've used your services it's
01:30:06of it didn't exist didn't exist
01:30:09he just wanted 25 Grand and he'd say
01:30:10whatever he wanted right right and this
01:30:13is these are the kind of videos I was
01:30:14making and it was weird actually it was
01:30:16one of the 10x community that threatened
01:30:19to Cave my head in with a rock and he
01:30:21was going to come to my hometown
01:30:24um and they called him like Uncle G
01:30:25Uncle grunt mad it's it's very religious
01:30:29you know the whole setup
01:30:32um and it's entrenched in Scientology
01:30:33and stuff like that it's it's quite an
01:30:35in once you start looking at what's
01:30:36behind it it's quite murky it's quite
01:30:39dark it's quite interesting but also
01:30:41it's a lot of Hassle and for a guy
01:30:42that's an actual business guy and I
01:30:44don't really I wasn't a YouTuber
01:30:47it kind of brought a lot of hassle that
01:30:50didn't marry up to me like I can deal
01:30:51with hassle if it brings in money I was
01:30:53just doing it to sort of educate people
01:30:55make a few people laugh and potentially
01:30:57stop people spending money on rubbish
01:30:59and um so when I started getting the
01:31:01death threats and the um someone posted
01:31:04my kids school online the address and
01:31:07all that stuff it just got a bit too
01:31:09much for me really and started to affect
01:31:11me a little bit
01:31:12so you how long you you put up the
01:31:15YouTube channel it's still up right yeah
01:31:17and it's removed quite a lot of videos
01:31:19I've I'm probably down maybe
01:31:2212 13 videos I've gone and annoyingly
01:31:25some of them I would say are my better
01:31:27and you took him down or YouTube took
01:31:30him down
01:31:30a combination of both some were enforced
01:31:33by YouTube and others were if they
01:31:35stayed up I'd received legal letters
01:31:37from lawyers and solicitors in the UK
01:31:38saying that if they weren't removed I'd
01:31:40have to pay certain things out
01:31:42annoyingly a lot of the legal action is
01:31:45to scare you more than anything a lot of
01:31:47it can't stand up but it's just hassle
01:31:55yeah so I actually won I won a couple of
01:31:58these cases against them but it still
01:32:00cost me like four and a half thousand
01:32:01pounds six thousand dollars to win a
01:32:05right and so you can imagine if you've
01:32:07got a YouTube video that might make 300
01:32:09400 in ad Revenue but it's cost you six
01:32:12thousand dollars for it to be up that's
01:32:15not a good business model so I I just
01:32:18removed some videos because of the
01:32:19hassle and then also because the global
01:32:22I had to focus more on my actual real
01:32:26um that I do in real life because my
01:32:28real life is my real life YouTube's just
01:32:30it's not a thing for me really I exist
01:32:33off YouTube quite happily where there's
01:32:35a lot because I'm a business person
01:32:36that's on YouTube rather than I'm a
01:32:38YouTuber trying to create a business on
01:32:40YouTube which a lot of people do
01:32:42so um there's nothing wrong with that by
01:32:43the way it's just I've always preferred
01:32:46my real life business thing right
01:32:50yeah no I I actually make most of my
01:32:52money you know Selling paintings and you
01:32:55know optioning yeah I've seen some of
01:32:56your stuff that you do yeah so did you
01:32:58learn that when you're in prison did you
01:32:59get into the painting when you're in
01:33:00prison or did you do that before no no I
01:33:03um I have a degree in in Fine Arts so my
01:33:06my degrees in Fine Arts I've always
01:33:07painted I just you know I didn't think I
01:33:11could make any money at it when I
01:33:13graduated college so you know I I went I
01:33:16got the degree and I knew I wasn't going
01:33:18to be able to support myself as a as an
01:33:20artist so I started doing other things
01:33:22and eventually I ended up owning a
01:33:24mortgage company and committed to fraud
01:33:26and then it just spiraled out of control
01:33:30um but yeah it's easy to do you know you
01:33:32know so when we talk about the
01:33:34contrapreneur stuff
01:33:35I think sometimes
01:33:37I don't think I mean there's some people
01:33:39their intention is bad from the off like
01:33:41they're doing it because it's a quick
01:33:42vehicle to quick cash but I think
01:33:43sometimes they genuinely believe
01:33:46what they're doing is a victimless thing
01:33:48and well if it doesn't work it's because
01:33:51they've not implemented the training
01:33:52properly and there's so many get outs
01:33:57they might be the victim of it
01:33:58themselves they've bought into that
01:34:00lifestyle so much because they've
01:34:01normally learned from their own Mentor
01:34:02or their own Guru they've paid someone
01:34:04that's taught them all these things yeah
01:34:06that I think they don't necessarily
01:34:08realize how bad it is because I bet you
01:34:10didn't set up a mortgage company with
01:34:11the intentions of committing mortgage
01:34:12fraud when he started or did you no no
01:34:14but then slowly creeped up on me yeah
01:34:17and so I think that's what I've learned
01:34:19and this is the sometimes there's a
01:34:21misconception that I hate old
01:34:22entrepreneurs or sometimes I think
01:34:24you've got to admire their business
01:34:26ability how they Market themselves how
01:34:28they grow whatever they do a lot of bad
01:34:31things but there's also some good things
01:34:32you can learn from them you just need to
01:34:34apply it to
01:34:35some of the lessons you can learn from
01:34:36even the worst entrepreneurs actually
01:34:39there's some value there you can almost
01:34:40learn the internet's made people black
01:34:43and white right it's Republicans it's
01:34:44Democrats it's brexit is it leave or
01:34:46stay you know it's very much like that
01:34:49it's real Life's a lot more nuanced and
01:34:52you know bad people do good things
01:34:53sometimes good people do bad things
01:34:55sometimes it doesn't mean that you are
01:34:56those things forever and that's the one
01:34:58thing or one problem I've got with my
01:35:00I think sometimes people think
01:35:03everything that is a scam that's like
01:35:06this but you know what there's some
01:35:07great courses online you can learn
01:35:09skills online you there are some great
01:35:11business people that are mentoring
01:35:12people out there not everything is a
01:35:14scam however
01:35:17your audience sometimes can't see that
01:35:20like I get asked about Gary vaynerchuk
01:35:21quite a lot because I ended up meeting
01:35:23the guy and ended up going to his office
01:35:25and people say like do you like Gary
01:35:27viago do you hate him
01:35:29um my real answer is neither
01:35:31do you think garyvee's a good guy or a
01:35:32bad guy well he's kind of both like
01:35:35aren't we all
01:35:36you know
01:35:37right and it's it's an interesting thing
01:35:39I think how the internet I don't know if
01:35:41it's the internet but
01:35:42people don't seem to be able to think
01:35:45critically or
01:35:47realize that people can be two very
01:35:49different things at the same time
01:35:50sometimes so it's a even my audience
01:35:54eventually towards the end I was getting
01:35:56a bit frustrated with them as well as
01:35:57the gurus that were
01:35:59um which is a mad thing to say isn't it
01:36:01about the audience that you've built
01:36:03yeah well I mean I get people that leave
01:36:06horrible comments you know in the
01:36:08comment section of my videos
01:36:10almost every video it's like you're
01:36:13watching though like you are watching
01:36:15and this guy like there's a couple guys
01:36:17they really watch the videos but you
01:36:19have like professional
01:36:21you know trolls or haters or whatever
01:36:23and it's it's it's odd but you know this
01:36:26is the thing just like you're saying
01:36:30you know I I was on uh concrete is a
01:36:34podcast that's around here A friend of
01:36:35mine Danny runs it and I was a big big
01:36:37podcast isn't it yeah I think you
01:36:39thought it was in a few million views
01:36:40right uh well he's got he's got like
01:36:42half a million subscribers yeah
01:36:45um but he's got videos that have you
01:36:46know 5 10 million views yeah so
01:36:51anyway we were talking one time and he
01:36:54said I said something about oh I can't
01:36:56go oh yeah yeah I can't go I said I
01:36:58gotta I'm going to church you know
01:36:59tomorrow and he was like church
01:37:03and I was like yeah he's kind of you
01:37:05know mocked me a little bit and I went I
01:37:07said well wait a second
01:37:09I don't have to to go to church I don't
01:37:12have to believe every single thing that
01:37:14they're saying you know what I'm saying
01:37:15or the entire belief system of the
01:37:18entire religion like what did Jesus
01:37:21Christ die on the cross I mean I don't
01:37:22know it says in the book maybe you know
01:37:25um you know there's all these things you
01:37:27know was you know the universe created
01:37:29in seven six days or we know whatever I
01:37:32don't know what I know is I go and this
01:37:34guy that is I'm listening to some of the
01:37:37stuff that he says I like some of it I
01:37:40disagree with I take what I want I walk
01:37:42out the door I feel okay about it I'm
01:37:44good but you're right there are people
01:37:46that it is
01:37:48oh you went to church oh you don't
01:37:50believe in abortion oh you're a horrible
01:37:52person oh you want to keep women down oh
01:37:54you it's like whoa whoa what are you
01:37:56talking about like they just go nuts
01:37:59over it's like bro I just said I go to
01:38:01church with my girlfriend like I you
01:38:04know people get crazy they're really so
01:38:07polarized at this point yeah but I think
01:38:09I mean
01:38:10I think we are but I also think that
01:38:12obviously social media is deliberately
01:38:14set up for that because the more Angry
01:38:16we are the more we comment the more time
01:38:18we spend on it and the more it focuses
01:38:20on you like I turn on if I turn on you
01:38:23know Tick Tock like all I get is stuff
01:38:26that just is like you know it's very
01:38:28decisive the
01:38:30divisive divisive everything I get I
01:38:33never get anything from the other side
01:38:34at this point unless it's backing the
01:38:36other side it's like it's it's it's
01:38:38really designed to just separate
01:38:40everybody yeah and um it's such a
01:38:43strange thing I think this is why by the
01:38:45way that um these entrepreneurs have
01:38:46done so well I think social media plays
01:38:48a big part
01:38:49um you can laser target people with a
01:38:52message you can Target them based on
01:38:54what they search for and then so you can
01:38:56Target vulnerable people and I think
01:38:58with Society now and it's a bit bit deep
01:39:00but I've really got into like the
01:39:02science and stuff behind all this it's
01:39:03been quite interesting but I think
01:39:07family and Community is kind of eroded
01:39:09so the last 50 years like you know you
01:39:11would meet someone in your local Town
01:39:13you'd go and work in the local Factory
01:39:14and you you'd sort of like have the same
01:39:16group of friends and you'd all have the
01:39:18same experiences now we're seeing
01:39:22almost too much we know too many things
01:39:25from too many places in the world and
01:39:26we've meant to have an opinion on things
01:39:28that we would never have known existed
01:39:2950 years ago I wouldn't have known 50
01:39:32years ago what was happening in South
01:39:34America or deforestation or I wouldn't
01:39:37know these things or pollution or
01:39:39plastic bottles off the coast of China I
01:39:42wouldn't have known about global warming
01:39:44carbon Footprints royal families I
01:39:47wouldn't have known about politics
01:39:49pedophiles all these different things we
01:39:52wouldn't know where now we are being
01:39:55force-fed that from the moment we wake
01:39:57up to the moment we go to sleep so your
01:39:59brains constantly receiving information
01:40:02then you're looking on social media to
01:40:04escape that and you're seeing a version
01:40:06filtered version one moment in someone's
01:40:10life that's not real just running
01:40:11picture right so you're sat there in
01:40:13your little town
01:40:14where you're from
01:40:16age 18 19 your mum and dad have split up
01:40:20you've not really got the community
01:40:22you've not got a group of friends
01:40:23there's no clear career path for you
01:40:25and then you start looking for something
01:40:27online to replace that it's why gangs do
01:40:29well in inner city areas you're looking
01:40:31for that sense of belonging family
01:40:34um and that's why religion does well
01:40:35whether you believe in it or not the
01:40:37sense that you can all have a shared
01:40:39experience and you listen to the same
01:40:41people and it's why it works because
01:40:44that's what we innately that's what we
01:40:46want but what's happened is people like
01:40:49Andrew Tay people like Grant Cardone
01:40:51people like Gary Vee have become that
01:40:54voice so a whole disillusions
01:40:58um audience of sort of 16 to 23 year old
01:41:01Lads essentially because
01:41:03they think that everybody out there does
01:41:05drive a Lambo does own six figures
01:41:07anybody working nine to five is an idiot
01:41:10they should have achieved these things
01:41:12by these ages and I think that on top of
01:41:16drugs going out low self-worth I think
01:41:20it's the perfect melting pot for than to
01:41:23reach out to these false prophets and
01:41:25you can use both senses of the word you
01:41:28know it's false prophets with an f and
01:41:29it's a false prophet with a pH
01:41:32um that's what I think it is and I think
01:41:34that all contributes to why young Lads
01:41:37look up to people like Andrew Tate he's
01:41:39obviously the biggest one at the moment
01:41:41um because
01:41:42and but also he is a direct opposition
01:41:45to what the woke agenda that's been
01:41:47pushed right and I'm not saying either
01:41:49of those things are right but when you
01:41:50create such extreme views on social
01:41:52media either either way an equal and
01:41:55opposite reaction has to happen that's
01:41:57what happens
01:41:58and that's what that's that's why they
01:42:00do so well and I think social media's
01:42:02got a huge part to play
01:42:04um and then also the erosion of like
01:42:06family family values the family unit
01:42:08sense of belonging father figures all
01:42:11those things I think they all are
01:42:12interlinked as mad as it sounds which is
01:42:15way deeper than my YouTube channel by
01:42:16the way but I'm just saying I get why
01:42:18people are like that now you know what I
01:42:21was I was thinking I so I know a couple
01:42:23of people that love uh Anthony Robbins
01:42:25yeah like it's like a cult they go to
01:42:28every single one of his
01:42:31um that they they uh one of his um
01:42:34uh whatever you want to call them
01:42:35seminars they've paid the to be a member
01:42:38of some Club they like they it's like a
01:42:42cult and yet
01:42:45these are both of these people are
01:42:47deeply troubled do not have a lot of
01:42:49money do not and I'm sitting there like
01:42:52you've been following this guy for 10
01:42:54years yeah like when are you gonna have
01:42:57your breakthrough when are you going to
01:42:58become your millionaire you know when
01:42:59are you going to be start living your
01:43:00best life it's it's hard isn't it but
01:43:02you pay you buy all his stuff you you
01:43:05know all this stuff you're excited
01:43:07you're in this plan you've got pictures
01:43:09with him you've got it's like what what
01:43:11are you doing like what is your real
01:43:13goal for is it just to be a member of
01:43:15the club like is it well I thought I
01:43:18think for a lot of people that's what it
01:43:19is so I've gone to lots of these events
01:43:20now when I see the same faces there it's
01:43:22like their thing
01:43:24you know they get hyped up they leave
01:43:26they're feeling motivated they don't do
01:43:27anything two days later it's worn off
01:43:28and they're looking for the next one
01:43:30that's why a lot of these people are
01:43:32multiple victims they might have bought
01:43:33six or seven different courses or
01:43:36attended six or seven different gurus
01:43:38live event and none of them have
01:43:41actually paid off because they've not
01:43:43actually implemented one thing and
01:43:46followed it through
01:43:47and that's even if you did implement it
01:43:49the chances of you actually being
01:43:50successful through those methods are low
01:43:51anyway but
01:43:52that's why I noticed quite a lot there
01:43:54are multiple victims I get messages from
01:43:56America all the time because there's a
01:43:57lot of people over there doing that and
01:43:59I don't say oh my grandma spent twenty
01:44:01one thousand dollars on these gurus in
01:44:04Boston can you help us get the money
01:44:06department wants to say well stop
01:44:08spending money with [ __ ] idiots yeah
01:44:10you know but you can't can you
01:44:15but I do think that stop handing money
01:44:16to people that you didn't know existed
01:44:18two days ago thinking they're gonna save
01:44:19you they're not going to yeah no
01:44:21nobody's yeah nobody's nobody's coming
01:44:25to help you but awesome as well by the
01:44:27way and you'll probably well maybe not
01:44:29but you'll know in scams quite often the
01:44:32victim is the victim because they think
01:44:33that they're going to gain a Competitive
01:44:34Edge off somebody else anyway it's
01:44:36almost like they need to feel like
01:44:38they're getting something
01:44:41there's a famous you know famous quote
01:44:44which is you know you can't scam an
01:44:46honest man yeah well you say you can't
01:44:48con and Honest John is what we say in
01:44:50the UK okay same thing yes and it is
01:44:52that isn't it so like if you're doing
01:44:53say a diamond fraud you're telling
01:44:55someone these diamonds should be worth
01:44:57twenty thousand dollars but you can have
01:44:59them for four thousand but I got it I
01:45:01stole them or I got a good deal or I got
01:45:03this or the guy doesn't know that I took
01:45:05them and I need to get rid of them real
01:45:06quick and yeah so they're thinking [ __ ]
01:45:08I'm getting 20 000 worth of dollars I'm
01:45:09gonna sell these for ten thousand so I'm
01:45:11gonna be making six thousand off someone
01:45:13so like well a normal good honest person
01:45:16would say there's something not right
01:45:18about this I don't want anything to do
01:45:19with these diamonds but then you get the
01:45:21people that do get scams saying oh yeah
01:45:22I'll take them then before you know it
01:45:24they bought glass ball balls plastic
01:45:27he built some of the nation's largest
01:45:29banks out of an estimated 55 million
01:45:31dollars because 50 million wasn't enough
01:45:34and 60 million seemed excessive
01:45:38he is the most interesting man in the
01:45:42I don't typically commit crimes but when
01:45:44I do it's bank fraud
01:45:49stay greedy my friends support the
01:45:51channel join Matthew Cox's patreon
01:45:55yeah I was thinking uh you've ever heard
01:45:57of uh Victor lusting
01:45:59the guy who he sold the Eiffel Tower
01:46:01twice oh yeah yeah he you know what he
01:46:06it was so funny about it was
01:46:08he gets all the scrap dealers together
01:46:11and he goes to he picked he finds one of
01:46:14the guys that he feels like he's he's
01:46:17ripe for the Pickens you know he's a
01:46:19mark he goes to him and says listen I
01:46:22I can make sure I like you
01:46:25I like you better than these other guys
01:46:26I can make sure you get the bid you'll
01:46:29get the job
01:46:30but I need a taste I need you to help me
01:46:33out so the guy gives him 50 000 in cash
01:46:36to make sure he gets the bid so you he
01:46:39can't turn around and go to the police
01:46:40and say I bribed this guy yeah to get
01:46:43the bid so you now you've committed a
01:46:46fraud so you can't expose yourself that
01:46:48hey I'm a scumbag and I'm ex and I got
01:46:51taken by this scumbag so
01:46:54but it's the same thing the other thing
01:46:55is is that it's almost like
01:47:00um you know being sexually assaulted for
01:47:02a woman you know you have a you'll
01:47:04notice that some of these some women
01:47:06if will be sexually assaulted multiple
01:47:09times and it's like how did that happen
01:47:11again because just like Marx
01:47:15you know
01:47:16is that you're more susceptible
01:47:20to be preyed upon
01:47:22the the a second time there's something
01:47:24about there's something about you know
01:47:26your it's intuition and criminals they
01:47:28know that someone I can take advantage
01:47:30of or they've been taken advantage of
01:47:31before or the person thinks this won't
01:47:33happen to me again and they put
01:47:35themselves in the same situation again
01:47:38because they think well it can't happen
01:47:41and it's the same thing with marks marks
01:47:43will get taken multiple times thinking
01:47:44well yeah I got screwed two years ago
01:47:46but I won't get screwed this time and
01:47:48that's why the entrepreneurs work so
01:47:49well you know and that's why that's why
01:47:51people that haven't had a result buying
01:47:53Tony robbins's course at two thousand
01:47:55we'll then go and spend five thousand
01:47:57dollars to do his more is more in-depth
01:48:00Mastermind boot camp inner circle thing
01:48:02and they won't get results from that but
01:48:04then they think well do you know what if
01:48:05I pay the ten thousand dollars but it's
01:48:07like but you've not you've not actually
01:48:09achieved anything to this point
01:48:13exactly but they've like committed to
01:48:15the scam and what's really what's a
01:48:16clever part of this of the entrepreneur
01:48:18formula to me is how they make people
01:48:22make a declaration you know post
01:48:24publicly say that you're going to
01:48:26achieve this thing because once you put
01:48:27it out there that you're going to Tony
01:48:29Robbins and you're gonna change your
01:48:31life and unleash the inner beast and
01:48:32become a millionaire
01:48:34when it doesn't happen you won't tell
01:48:36people because you're embarrassed so you
01:48:38will actually lie about your
01:48:40achievements and results because you
01:48:42wouldn't want people to say oh well I
01:48:43told you so so the modest thing about it
01:48:46is I know people that have paid more
01:48:48money to people they've not had results
01:48:49from rather than just walk away and
01:48:52think I've been burnt here I'm gonna
01:48:54leave they would rather
01:48:57carry on spending money and quite
01:49:00quietly keep it to themselves that
01:49:02they've been unsuccessful because their
01:49:04mum will take well the mum will ask them
01:49:06why they did it the dad will the
01:49:07brothers the sisters their friends why
01:49:09have you spent 20 grand with that guy
01:49:10you've not achieved anything oh well I
01:49:12have they feel like they've got to
01:49:14justify because no one wants to be made
01:49:15an idiot of right all right so it's a
01:49:17really clever thing to make people
01:49:20um yeah the psychology is is amazing
01:49:22it's amazing and you know what the
01:49:24interesting thing is these tactics work
01:49:27and there's nothing wrong with selling
01:49:30products using a discount or using
01:49:32scarcity or testimonials or none of
01:49:34these things if they're real if they're
01:49:36real legit examples of these things
01:49:39and the product that you're selling is
01:49:40actually good serves a purpose helps
01:49:43somebody achieve the thing that it
01:49:44claims and you target the right person
01:49:47that's got a good chance of being
01:49:48successful there's nothing wrong with
01:49:50these things but unfortunately that
01:49:52doesn't happen with most of these people
01:49:54right well you know what I was thinking
01:49:55is like like have you ever been to
01:49:57Disney World
01:49:58no I've never been you've never been to
01:50:00Disney World I've been to America once I
01:50:02was there for three days I had food
01:50:04poisoning and I saw a dead body
01:50:07go New York New York yeah
01:50:10literally I was in New York I I spent
01:50:13three hours out of my hotel room I was
01:50:15in the hotel room puking up and [ __ ]
01:50:17myself for two solid days I had a
01:50:19meeting with Gary Vee on that way to
01:50:21that meeting with Gary vaynerchuk in New
01:50:22York I saw a woman being put into her
01:50:24body back
01:50:26and people taking pictures of it and
01:50:28then and then I was back in my hotel
01:50:30room so I've literally been out in New
01:50:31York for three hours in my entire life
01:50:33that's my only experience of America not
01:50:35go to Orlando you go to come to Florida
01:50:38you go to Orlando
01:50:41so anyway uh if you go to well you've
01:50:44been to a theme park right yeah I was in
01:50:47England we'd call it oh okay what it
01:50:49what is it Olson's hours people like
01:50:52from around here will know that's the
01:50:53main theme park in the UK okay it's good
01:50:56so in I don't know what it's like there
01:50:58but I know that the here's what they do
01:51:01you go to let's say the Hulk it's a
01:51:03roller coaster you go to the Hulk in uh
01:51:06Island of Adventure that's another theme
01:51:07park and they're all all the theme parks
01:51:09in Orlando are like right next to each
01:51:11other you could spend a week just going
01:51:13to theme parks
01:51:14but they're all kind of the same you get
01:51:17when you first walk into the ride
01:51:19there's a big room with all the you know
01:51:21the the walkie things that you walk
01:51:23through the yeah you know so there's a
01:51:26big there's a big room and you're and
01:51:27you can see the door to the ride
01:51:30so you think
01:51:31I go through so God it's pretty big
01:51:34it's a there's a there's a weight you
01:51:36sit there for a minute and you go yeah
01:51:38but it's right there
01:51:40so you wait
01:51:42and you wait 30 minutes
01:51:44yeah and then you're done and when you
01:51:46get through that door
01:51:47you realize it's not the ride
01:51:50it's another room with more of the one
01:51:54no way but it's smaller it's half the
01:51:57size of the other room and so you think
01:52:00to yourself
01:52:01you know what
01:52:03I've already waited
01:52:0630 minutes this one looks like it's
01:52:08about 10 or 15 minutes so you wait in
01:52:10that one because I can the door's right
01:52:13to the right so you wait and then when
01:52:15you get to that door you realize there's
01:52:17another line
01:52:20or another room with lines in it but
01:52:23it's it's shaped oddly so it looks short
01:52:27and it's smaller so you wait I've
01:52:29already waited 45 minutes this one's
01:52:32about five minutes so you wait the you
01:52:34walk the five minutes then when you get
01:52:36through there there's another room with
01:52:38a much bigger room probably the same
01:52:40size as the original room but now you
01:52:43can actually see people getting on the
01:52:45so you wait
01:52:48you would have never waited
01:52:50over an hour and 20 minutes
01:52:53had you seen that but the psychology
01:52:56behind it is they know
01:52:58we can they'll wait this long but they
01:53:01won't wait that long again unless you
01:53:04know they keep building up the incentive
01:53:06to wait and wait and wait you're not
01:53:07going to wait for an hour and a half if
01:53:08they told you it was an hour and a half
01:53:10right so you know it's it's the same
01:53:14thing I think with these guys is like
01:53:16one of the things they do and I notice
01:53:19this happens
01:53:20a lot with uh with with con men is it
01:53:23there's the psychology that
01:53:25their understanding of their customers
01:53:28or their marks or whatever you want to
01:53:29call them
01:53:30is is phenomenal it's amazing I I've met
01:53:33some of these guys that literally they
01:53:36would tell me their pitch
01:53:38and I would sit there and listen to
01:53:40their pitch and I would go and I'm in
01:53:41prison with the guy
01:53:43and I would say wait a second you can't
01:53:46guarantee this he goes yeah and if they
01:53:47ask me if I can guarantee it I say I
01:53:49can't oh no I can't all I'm telling you
01:53:52is that I'm gonna sell you these vending
01:53:55machines in this area
01:53:59but I can't promise nobody else will
01:54:03sell vending machines in that area I can
01:54:05promise you that I won't sell that area
01:54:07to somebody else an area They Don't
01:54:09Really own the the rights to and then
01:54:11they will sign a contract and then what
01:54:14they do is if the guy waffles what they
01:54:16say is
01:54:19they say well listen there's six areas
01:54:21these three are taken somebody has this
01:54:24one but these two are still available
01:54:26and the guy says oh wait that I don't
01:54:29want that one I want this one I'm sorry
01:54:32that one's already taken
01:54:34this one we got a contract on
01:54:37where we send it out but the guy hasn't
01:54:39signed it yet so that it's the urgency
01:54:41it's the yeah yeah they are more
01:54:43concerned about losing out on a good
01:54:45deal than protecting their investment
01:54:48yeah and these and they know it and
01:54:50they're some of these guys were
01:54:52brilliant when you listen to them you're
01:54:54like yeah not stop that's the biggest
01:54:56thing that I've learned from watching
01:54:57these people for two and a half years
01:54:59three years and going through all their
01:55:00events and listening to their actual
01:55:02script that they use is pretty much the
01:55:05same the only thing they change is
01:55:06whatever vehicle it is that's going to
01:55:08get you to this successful point right
01:55:10but it's like using NLP like saying buy
01:55:13now you should think this by now you
01:55:14should think that and it's really really
01:55:16interesting but I always go back to
01:55:18they're so good at marketing and they're
01:55:20quite clearly
01:55:22um good at sales and they've obviously
01:55:24got a business mind why don't they just
01:55:27put that time and effort into creating
01:55:28something that actually does
01:55:30achieve results for people but the
01:55:33reason being is not as many people would
01:55:35buy those things
01:55:37people always want to buy something
01:55:39that's going to make them wealthy
01:55:41healthy or happy
01:55:42so they always go back to that is why
01:55:44people buy diet pills rather than I'll
01:55:46just eat less and move more it's why
01:55:48people buy an ab belt to send electrons
01:55:51to their six-pack or they download the
01:55:53six minute abs people will spend money
01:55:56lots of money on things that they
01:55:59probably can't even be bothered
01:56:00implementing because they think it's
01:56:02going to help them achieve something and
01:56:04that's a far easier sell
01:56:06than saying
01:56:08imagine if I had a book that said the
01:56:10100 hour work week your 10 years to
01:56:13become a millionaire business person and
01:56:15then I had a book next to it saying
01:56:17um the four hour the four hour work week
01:56:20being millionaire in 12 months which of
01:56:22those two books are going to sell more
01:56:24copies yeah and unfortunately
01:56:27yeah they want to be lied to almost
01:56:29yeah yeah yeah and that's why it but
01:56:33equally there are some victims that are
01:56:36that are taking advantage job and it's
01:56:37it's sad and I feel sorry for them and
01:56:39it's not been a good thing
01:56:41but there's others where when I hear the
01:56:45I think
01:56:46but why would you believe that right
01:56:49especially when
01:56:51they're not people that you've already
01:56:53heard of or you know are successful
01:56:56business people that are positioning
01:56:58themselves as successful in business
01:57:01so if there's somebody that you'd not
01:57:03heard of 48 hours ago is telling you
01:57:05that he's the world's number one wealth
01:57:09be suspicious because if you've never
01:57:11heard of him before he probably isn't
01:57:13the thing that he's claiming yeah it's
01:57:16um but yeah you must have seen it um
01:57:18with Marx over and over again sometimes
01:57:20you just think
01:57:22when they hear the story back to them
01:57:24you think why haven't they realized at
01:57:27this point or why haven't they
01:57:28questioned that at this point but
01:57:31I think logic is just kicked off a cliff
01:57:33and that's why they use urgency because
01:57:35when you're in a state of uh panic and
01:57:37you think you're gonna miss out on a
01:57:38deal and you think there's only five
01:57:40left of this opportunity and you've got
01:57:42to act now when you need to get the
01:57:45it's not until you go home and you sit
01:57:47there and think about it you might get
01:57:48buyer's remorse a week later two weeks
01:57:50later because anything hang on this
01:57:51doesn't feel right or my gut's telling
01:57:54me something's wrong here
01:57:57um it's very interesting but they are
01:57:58they're experts in Psychology they're
01:58:00experts in marketing they could make a
01:58:02lot of money by having a marketing
01:58:04agency right
01:58:05probably yeah
01:58:07um not probably not as much as they're
01:58:09making selling their own course yeah but
01:58:11I mean I look at now and
01:58:13if you Google some of the main names
01:58:15some of the names that I've mentioned in
01:58:17they've all got like class action
01:58:19lawsuits going on for
01:58:21like 100 million dollars or 400 million
01:58:24dollars and
01:58:25their customers have been burned and
01:58:27they've all clubbed together to start
01:58:28legal action against these people
01:58:31um so I think there's a lot of these
01:58:33people that in sort of two three years
01:58:35time are probably going to be in prison
01:58:38paying back a lot of the money well I
01:58:40mean I don't know how it works but
01:58:42be paying money back to victims that
01:58:44they've kind of defrauded from people
01:58:46but but equally as well by the way for a
01:58:49lot of these people
01:58:55the ghost of like say Jordan Belfort's a
01:58:57great example he'd afforded a lot of
01:58:58people he went to prison he came back
01:59:00and he's still seen as like a
01:59:03a a good a success story right yeah so
01:59:07even when you do the thing and you come
01:59:09out the comeback's almost as good as
01:59:12yeah he's super likable yeah yeah what
01:59:15kills me is like to me Grant Cardone is
01:59:18not likable no like the arrogance he's
01:59:21so arrogant he's so over the top and you
01:59:24know he's almost abusive like he's he
01:59:26mouths off the people he he calls people
01:59:28names he picks it people it's like you
01:59:33I can't imagine
01:59:35following this guy but you know Belfort
01:59:38to me is always very humble very polite
01:59:40very nice you know and he's doing well
01:59:43and you know so and then maybe that's
01:59:46the ultimate scum right I want him to
01:59:48survive I want him to succeed
01:59:50yeah even though you know I understand
01:59:53he's stole a bunch of money did a bunch
01:59:55of pump and dump schemes and
01:59:57you know I get it but um it's it's
02:00:00strange isn't it sometimes you root for
02:00:01the bad guy right and Jordan Belfort's
02:00:03one of them people where you actually
02:00:04think like he's kind of like is he like
02:00:06The Sopranos I don't have you ever watch
02:00:07The Sopranos of course but like you like
02:00:10Tony Soprano yeah everyone liked him
02:00:13when what he did wasn't very nice no no
02:00:15it wasn't nice to his wife he wasn't
02:00:17particularly nice to his kids he wasn't
02:00:18nice to anybody he was a likable guy
02:00:21right right for a prolonged period of
02:00:23time he wasn't nice to anybody Pro you
02:00:25know over the yeah but you felt sorry
02:00:27for him you kind of understood the
02:00:28pressures he had you know oh maybe
02:00:31everyone needs a Goomba that's the right
02:00:33that's the answer right
02:00:35um yeah so I I have a question uh so
02:00:38you're you're starting the channel kind
02:00:40of you're not that it stop but you stop
02:00:42posting for about a year yes and now
02:00:44you're starting to put up are you you're
02:00:45doing new videos but are you
02:00:48what's the format now as opposed yeah so
02:00:51what I started to do now was just um
02:00:54oh I I now sign up to people's webinars
02:00:57and I just do their live webinars and I
02:00:59see how many of the entrepreneur scripts
02:01:01that I've sort of put together do they
02:01:03use to sell their products and it's like
02:01:05[ __ ] backstories fake testimonials
02:01:09um inflated value price ends in a seven
02:01:11because most of these courses price ends
02:01:13in uh like 197 or 1 997 they've all they
02:01:19all claim it's like thirty thousand
02:01:21dollars worth of value but they're
02:01:23selling it for this Rock Bottom price
02:01:24it's is it time limited so I just now I
02:01:28have a little bingo card that I play and
02:01:30I watch their pitch and we kind of just
02:01:32have a little bit of a fun but what we
02:01:34do is I watch them live by the way I
02:01:36don't know if they're gonna pass or fail
02:01:38before I start but when we cut away a
02:01:41lot of the boring bits and you you edit
02:01:43it together to show the most extreme and
02:01:45outrageous bits of their pitch
02:01:47there's no way you would buy from these
02:01:49people you would think who the hell is
02:01:50handing these people money because it's
02:01:52quite funny so it's more like a sort of
02:01:54comical way of
02:01:56mocking some of these gurus but in a way
02:01:59where I'm not saying this guy is a con
02:02:01this guy is a scam it's more like look
02:02:04at how funny and bad his pitch is look
02:02:07how rubbish his slide deck is look how
02:02:09badly look how crap his testimonials are
02:02:12and what I found is weirdly
02:02:15a lot of the people and testimonials in
02:02:19these guru's courses
02:02:21are used in multiple people's courses
02:02:24so I'm seeing the same testimonials used
02:02:27elsewhere it's just like a humorous
02:02:28observation so it's less
02:02:31investigative let's expose these people
02:02:34and cause legal problems it's more
02:02:37aren't these people a little bit silly
02:02:39if you're still falling for this now
02:02:40you're a bit of an idiot right um
02:02:42because also as well by the way I spent
02:02:45five hundred thousand dollars on [ __ ]
02:02:46that didn't work that's not a
02:02:48sustainable business model yeah yeah you
02:02:50know like my accountant goes mad
02:02:53you know my YouTube channel hasn't made
02:02:55five thousand dollars but I spent five
02:02:56thousand dollars putting it all together
02:03:04um so yeah Mike win it is the YouTube
02:03:06channel if anyone wants to check out and
02:03:08see some of the videos see how I got a
02:03:09best-selling book
02:03:10um with a blank book called C uh what it
02:03:13was like in Andrew Tate's course or see
02:03:15what it was like in Grant cardone's
02:03:16course or Tai Lopez I've done them all
02:03:18and I've put my findings on there it's
02:03:20quite funny if you don't mind the accent
02:03:22and pasty skin how often do you um
02:03:25upload videos
02:03:27um maybe like for three four times a
02:03:29month uh normally every Friday but we
02:03:32were gonna upload today but the Queens
02:03:33died in the UK right the queen died
02:03:36yesterday and I don't know if we'll
02:03:38upload today because a lot of people
02:03:39have gone on like a social media
02:03:41you know
02:03:43so uh probably next week we'll be back
02:03:46okay well
02:03:48um listen I appreciate you taking the
02:03:49time and I know we missed each other a
02:03:51couple times and yeah I finally did it
02:03:54yeah yeah
02:03:55um if you know look if you if you you
02:03:57know if you need any help or or you know
02:04:00want to do an interview on your Channel
02:04:01or anything like that I mean or want me
02:04:03to you know
02:04:05look at somebody or review something or
02:04:06whatever I'd be more than happy to
02:04:08because I'll have a I love a thing what
02:04:10we can do and get back to you yeah
02:04:13um listen I appreciate it thank you I
02:04:16you know wish you luck and um I'll I'll
02:04:18look out for your uh for your videos
02:04:20because I mean the few that I've watched
02:04:21like I watched the one on the real
02:04:22estate I watched the one where you
02:04:24actually you had gone to several of
02:04:26these things and I watched the one on
02:04:27garyvee because I like garyvee yeah you
02:04:30know I I mean I he does say the same
02:04:32things over and over again I don't
02:04:34really pay attention like I've never
02:04:36bought anything from him I'm not gonna
02:04:38buy an nft for him I'm not gonna you
02:04:40know like I know a lot of stuff it's
02:04:41hype and I'm just like yeah I'm not
02:04:42interested in that but I like the basic
02:04:44thing he says you know be happy
02:04:47follow your passions you know I picked
02:04:49he's the one so he was originally gonna
02:04:51get my series to Netflix he was going to
02:04:53give me a Netflix introduction and that
02:04:54never happened but ironically Netflix
02:04:57eventually got in touch with me
02:04:58themselves they'd seen my video I did
02:05:01three hours of Talking Heads with
02:05:02Netflix and they were coming over to the
02:05:04UK to film I signed the paperwork to
02:05:06give permission to use my content some
02:05:08of my IP my intellectual property my
02:05:10ideas and then two days before filming
02:05:13was meant to start they pulled the plug
02:05:15and then nine months later they were
02:05:18released an episode on Netflix called um
02:05:21money explained get rich quick and that
02:05:24video looks and sounds very much like
02:05:27the video that I recorded with them
02:05:30yeah so they cut me out on Netflix but
02:05:32if you wait to the very end it's a
02:05:34special thanks and my name's on there
02:05:36yeah that's I think that's how they how
02:05:38they get around it I yeah and I never
02:05:40got paid I paid but I signed the
02:05:42paperwork because I genuinely thought we
02:05:43were doing this together and I would
02:05:44have been
02:05:45in that documentary but no they use the
02:05:48talking head thing
02:05:49and then they went through my YouTube
02:05:50channel and they they pretty much built
02:05:53the episode based on what I said for it
02:05:56it was almost like they used another
02:05:57narrate on American narrator to narrate
02:05:59the words I'd said but um it's funny
02:06:02because I've I actually had I've had the
02:06:04same thing happen to me a couple times I
02:06:06had Vice came talk to me we're all
02:06:10excited asked me to look at this look at
02:06:12that and then then never got back with
02:06:15me next thing I know there was a eight
02:06:17months later
02:06:19an episode came out they used all my
02:06:20they used one of my stories used all my
02:06:22material and then the very end they said
02:06:25they gave me a they called it a um oh a
02:06:30Consulting producer credit
02:06:32it's like and so when I complain hey
02:06:34what's going on you owe me this much
02:06:36money we talked about this we talked
02:06:37about that they were like oh we we
02:06:39didn't realize we gave you a credit
02:06:42oh my God I want a credit I want the
02:06:46credit and take that to the banking huh
02:06:48take that to the bank and pay with
02:06:49something with your credit yeah exactly
02:06:51they ended up they did end up giving me
02:06:53something but not nearly what I deserved
02:06:55but then again it's like okay do you
02:06:57spend five or ten thousand dollars to
02:06:59fight them in court to get half of that
02:07:01yeah most people disappear right that's
02:07:04how I felt with Netflix But the irony
02:07:06about mine is my whole thing is about
02:07:08being scammed and how to avoid being
02:07:09scammed and I got scammed by Netflix
02:07:11making an episode about scams right yeah
02:07:14so I I get it I hear the I hear it um
02:07:17okay listen I appreciate it thank you
02:07:21very much
02:07:22and um let me know if I can do anything
02:07:24yeah brilliant cheers appreciate it see
02:07:26you later thank you
02:07:28Hey listen I appreciate it and uh thanks
02:07:31to Mike win it um I uh if you liked the
02:07:35video do me a favor and hit the
02:07:37Subscribe button hit the Bell so you get
02:07:38notified of videos like this leave me a
02:07:40comment the comment section
02:07:43and I will try and respond to you I try
02:07:45and I don't know if I'm at 80 or 90 I
02:07:48mean that you know of responding I don't
02:07:50know I I hit the bells I mean I hit the
02:07:51I hit the you know the little you know
02:07:54heart a lot of them and sometimes
02:07:56sometimes they don't require response
02:07:58um but typically if it requires a
02:08:00response I try and respond um I probably
02:08:02get 70 to 80 percent of the ones where
02:08:04they probably deserve a response
02:08:06so uh leave me a comment or if you
02:08:08really want to talk to me in the
02:08:10description in the description box
02:08:11you'll see my email is always there I
02:08:14appreciate you guys watching if you like
02:08:16the video do me a favor also YouTube has
02:08:19a thank you button where you can
02:08:21actually donate to the channel it's like
02:08:24a dollar ninety I think you could all
02:08:27donate like a dollar ninety nine or 299
02:08:29or 4.99 that would really help and
02:08:34um yeah so I appreciate and see ya
Chat with video

FAQs about This YouTube Video

1. How does the video expose Grant Cardone's scam?

The video exposes Grant Cardone's scam, highlighting how he guarantees a rate of return and unfairly traps clients in contracts.

2. What are the differences between Ponzi schemes and pyramid schemes according to the lawyer in the video?

The lawyer explains the differences between Ponzi schemes and pyramid schemes, and warns against falling for the false promises and hidden costs of property investing touted by these gurus.

3. What are the false promises and hidden costs of property investing that the video warns against?

The video warns against falling for the false promises and hidden costs of property investing touted by these gurus.

4. Why should people be cautious about the rate of return guarantee provided by Grant Cardone?

People should be cautious about the rate of return guarantee provided by Grant Cardone, as highlighted in the video, to avoid unfair traps and contracts.

5. What is the main focus of the video in exposing the scam by Grant Cardone?

The main focus of the video is to expose the scam by Grant Cardone and warn viewers against false promises and hidden costs in property investing.

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