1 00:00:00,040 --> 00:00:03,600 You are on the Forbes Billionaire list with a Forbes 2 00:00:03,600 --> 00:00:07,920 self-made score of 10 out of 10. So I do think that that I am 3 00:00:07,920 --> 00:00:11,040 self-made, but I don't sort of begrudge the circumstance. 4 00:00:11,120 --> 00:00:14,040 I think early adversity is probably a huge advantage. 5 00:00:14,120 --> 00:00:15,680 You went to Harvard for undergrad. 6 00:00:15,720 --> 00:00:19,120 Is it responsible for success or just a nice flex? 7 00:00:19,160 --> 00:00:21,600 Yeah, this one's going to be a little controversial. 8 00:00:21,600 --> 00:00:25,760 Mark Cuban business genius or overrated TV billionaire? 9 00:00:25,880 --> 00:00:29,160 Oh man. OK, look, let's talk about the 10 00:00:29,160 --> 00:00:31,040 facts. If you were starting from zero 11 00:00:31,040 --> 00:00:34,840 today, what is the first real move that you'd make to build 12 00:00:34,960 --> 00:00:37,120 wealth? The truth is that when you don't 13 00:00:37,120 --> 00:00:40,520 have anything, can you find maneuvers and tactics for 14 00:00:40,520 --> 00:00:43,120 yourself that aren't about capital? 15 00:00:43,120 --> 00:00:45,240 Everybody has fear. We all have fear about 16 00:00:45,240 --> 00:00:46,960 something, and So what do you do with it? 17 00:00:47,080 --> 00:00:48,720 But when are we talking about love? 18 00:00:50,320 --> 00:00:53,480 I think Fernando wants to set us up, really. 19 00:00:53,600 --> 00:00:55,640 I mean, I will try. I will. 20 00:00:55,640 --> 00:00:57,560 I will. I will work really, really hard. 21 00:00:57,600 --> 00:01:01,600 Let me ask you guys a Yeah, about love, how to very driven, 22 00:01:01,640 --> 00:01:03,960 highly intelligent women. Does it? 23 00:01:04,239 --> 00:01:06,400 Does it make it difficult to date? 24 00:01:06,400 --> 00:01:08,320 You know what? Going back to your earlier 25 00:01:08,320 --> 00:01:22,880 point. This is the Tiger Sisters 26 00:01:22,880 --> 00:01:26,040 podcast where we talk about money, power and love. 27 00:01:26,400 --> 00:01:30,160 We are #11 top business podcast on Spotify. 28 00:01:30,400 --> 00:01:33,160 Today we talk about the truth about building wealth from 29 00:01:33,160 --> 00:01:35,520 nothing. They say generational wealth is 30 00:01:35,520 --> 00:01:39,280 the key to success, that you need a trust fund or a last name 31 00:01:39,280 --> 00:01:42,240 that people recognize. But what if you could build a 32 00:01:42,240 --> 00:01:44,920 billion dollar empire in one lifetime? 33 00:01:45,320 --> 00:01:47,120 Today's guest didn't grow up with wealth. 34 00:01:47,280 --> 00:01:49,640 He didn't have the elite connections. 35 00:01:50,040 --> 00:01:53,280 By the end of this episode, you won't just know Fernando's wild 36 00:01:53,280 --> 00:01:55,760 story. From crossing borders to 37 00:01:55,760 --> 00:01:59,000 building a multibillion dollar empire, you'll walk away with 38 00:01:59,000 --> 00:02:03,320 his top three rules for building and keeping generational wealth. 39 00:02:03,520 --> 00:02:05,360 I'm Cherie. I'm Jean. 40 00:02:05,560 --> 00:02:09,160 And I'm Fernando. And we're the Tiger sisters. 41 00:02:09,280 --> 00:02:13,760 And I'm the tiger brother. Hey friends, it's Sheree and 42 00:02:13,760 --> 00:02:16,440 Jean from Tiger Sisters. We need your help. 43 00:02:16,680 --> 00:02:19,560 We just dropped our very first audience survey and it's 44 00:02:19,560 --> 00:02:22,040 actually really important to us. Why? 45 00:02:22,040 --> 00:02:24,760 Because we want to create the best content for you and 46 00:02:24,760 --> 00:02:27,040 learning more about you helps us to do that. 47 00:02:27,200 --> 00:02:29,680 It takes less than 5 minutes to fill out and as a thank you, 48 00:02:29,680 --> 00:02:32,520 we're giving away $100.00 gift card at the end of the season to 49 00:02:32,520 --> 00:02:34,160 1 listener who fills out the survey. 50 00:02:34,360 --> 00:02:37,000 The link is in the video description, please fill it out. 51 00:02:37,160 --> 00:02:38,720 Thank you for being a part of this with us. 52 00:02:38,800 --> 00:02:40,760 Tiger Sisters is just getting started. 53 00:02:41,240 --> 00:02:44,440 Fernando. I'm intense questions. 54 00:02:45,080 --> 00:02:47,600 Questions. You are on the Forbes 55 00:02:47,600 --> 00:02:52,320 Billionaire list with a Forbes self-made score of 10 out of 10, 56 00:02:52,600 --> 00:02:55,240 which we looked up in Forbes. We actually looked at the like 57 00:02:55,240 --> 00:02:58,200 footnotes. And that means you grew up poor 58 00:02:58,200 --> 00:03:01,640 and overcame significant obstacles to build your fortune 59 00:03:01,640 --> 00:03:05,000 completely on your own. There are very, very few people 60 00:03:05,000 --> 00:03:06,800 who have the score of 10 out of 10. 61 00:03:07,120 --> 00:03:10,720 Two of them are Oprah, George Soros and Fernando. 62 00:03:12,080 --> 00:03:14,240 All right. Forbes reports that you have a 63 00:03:14,240 --> 00:03:18,160 net worth of $2.8 billion and we got one of these. 64 00:03:22,560 --> 00:03:23,560 Let's talk about love. Let's. 65 00:03:23,560 --> 00:03:24,960 Talk about love. Now he wants to talk about Dad 66 00:03:25,240 --> 00:03:28,840 wants to talk about that. Can you please introduce 67 00:03:28,840 --> 00:03:31,080 yourself to the audience in your own words? 68 00:03:32,080 --> 00:03:38,200 Well, I, I did grow up in pretty complex circumstances. 69 00:03:38,280 --> 00:03:42,800 I, I grew up along the South Texas, northern Mexico border. 70 00:03:42,880 --> 00:03:47,480 So I do think that, that I am self-made, but, but I don't sort 71 00:03:47,480 --> 00:03:50,240 of begrudge the circumstance. I think they were, you know, 72 00:03:50,240 --> 00:03:54,080 sort of a real advantage. And I think early adversity is 73 00:03:54,080 --> 00:03:57,520 probably a huge advantage. I love that can. 74 00:03:57,520 --> 00:03:59,800 You talk a little bit more about this view. 75 00:03:59,800 --> 00:04:02,280 It sounds like it's a view that's turned into a value 76 00:04:02,280 --> 00:04:04,960 that's really guided you to make the decisions that you've made 77 00:04:04,960 --> 00:04:06,720 in your personal life and your business. 78 00:04:07,480 --> 00:04:14,200 All of the, my view is that we live in a country where there 79 00:04:14,200 --> 00:04:19,240 are no constraints to what you can achieve a simple idea. 80 00:04:19,360 --> 00:04:22,400 Most of the constraints that people put on themselves are 81 00:04:22,400 --> 00:04:25,600 self-made. This country has a massive 82 00:04:25,600 --> 00:04:28,080 economy, a $30 trillion GDP economy. 83 00:04:28,520 --> 00:04:33,000 And so there are places, pockets everywhere where wealth can be 84 00:04:33,000 --> 00:04:36,040 created. And so if you want to do that, 85 00:04:36,040 --> 00:04:38,760 and that's a, you know, a value or something that you are 86 00:04:38,760 --> 00:04:42,920 interested in, there are an infinite, almost infinite number 87 00:04:42,920 --> 00:04:47,840 of places to to generate wealth, But you have to have the stomach 88 00:04:47,960 --> 00:04:50,160 for it. You have to believe in your 89 00:04:50,160 --> 00:04:52,480 ability to do that. And then you also have to have 90 00:04:53,000 --> 00:04:54,920 the ability to provide value for others. 91 00:04:54,920 --> 00:05:00,600 So if you do something kind of the way you 2 do this, you're 92 00:05:00,600 --> 00:05:05,000 disseminating information to young men and women about 93 00:05:05,000 --> 00:05:09,320 pursuing business, a career, all of these things, they're 94 00:05:09,320 --> 00:05:13,600 massively important to people's understanding of, of how to 95 00:05:13,600 --> 00:05:15,560 pursue their goals. And so if you provide that 96 00:05:15,560 --> 00:05:19,800 value, you get rewarded. If what you do doesn't provide 97 00:05:19,800 --> 00:05:22,640 value to others in society, then you don't, you don't get 98 00:05:22,640 --> 00:05:24,600 rewarded. It's sort of a very, very fair 99 00:05:24,600 --> 00:05:29,480 system in my opinion. And I think that that underpins 100 00:05:29,480 --> 00:05:32,760 my pursuit of business creation, is that if we can build 101 00:05:32,760 --> 00:05:35,840 businesses with people with stamina that have the ability to 102 00:05:35,840 --> 00:05:39,120 deal with adversity and that we can provide a value to to 103 00:05:39,120 --> 00:05:40,960 society, then we'll be rewarded for it. 104 00:05:40,960 --> 00:05:43,040 And we've done that, you know, a few times. 105 00:05:44,120 --> 00:05:46,400 Fernando for for Senator, for President. 106 00:05:47,600 --> 00:05:52,400 No, no, no, no, the opposite. We need we, no, what we need to 107 00:05:52,400 --> 00:05:54,520 do is create, continue doing what we're doing. 108 00:05:54,600 --> 00:06:00,280 And the, the, the political thing is way too complicated. 109 00:06:00,280 --> 00:06:03,320 That's one thing that people, business people have not been 110 00:06:03,320 --> 00:06:05,520 able to solve. It's how to deal with, with the, 111 00:06:05,920 --> 00:06:09,720 with the political chaos of, of the last few years. 112 00:06:09,800 --> 00:06:11,240 Yeah. Sharif for president. 113 00:06:11,440 --> 00:06:14,080 Yeah, Sharif for president. Or at least, or at least the 114 00:06:14,080 --> 00:06:16,720 governor. Yeah, why stop there? 115 00:06:17,960 --> 00:06:20,120 Fernando? I I'd love to go back to the 116 00:06:20,120 --> 00:06:22,680 beginning, some of your, your early stories. 117 00:06:23,280 --> 00:06:26,800 Can you talk a little bit more about your earliest money 118 00:06:26,800 --> 00:06:31,200 memory? Money and wealth was never sort 119 00:06:31,200 --> 00:06:33,960 of important for material things. 120 00:06:34,240 --> 00:06:38,280 It was important because it provided safety to my family. 121 00:06:38,280 --> 00:06:43,400 And so I, I had a, you know, early days my, my father passed 122 00:06:43,400 --> 00:06:45,320 away when I was about 12 years old. 123 00:06:45,560 --> 00:06:50,160 And so the family, I was the only American citizen in, in the 124 00:06:50,160 --> 00:06:52,800 family, I could speak English. I had these advantages. 125 00:06:52,800 --> 00:06:56,080 I had these things, these tools that my the rest of my family 126 00:06:56,080 --> 00:06:57,640 didn't have. Because you were the youngest. 127 00:06:57,640 --> 00:07:00,360 Because I was the youngest of 6 and, and then the, the, the 128 00:07:00,360 --> 00:07:03,680 others were, you know, 10 to 16 years older than I was. 129 00:07:03,960 --> 00:07:07,560 And so I had this sort of golden ticket that was given to me, 130 00:07:07,600 --> 00:07:09,120 right, to be an American citizen. 131 00:07:09,440 --> 00:07:13,600 And, and so I could take the skills that I had and the 132 00:07:13,600 --> 00:07:17,920 ability to be in the United States and create, you know, 133 00:07:18,520 --> 00:07:20,680 income and, and that was important. 134 00:07:20,680 --> 00:07:22,560 And so I had to kind of maximize that. 135 00:07:22,560 --> 00:07:27,880 So, you know, when I was about 14 years old, I, I was a 136 00:07:27,880 --> 00:07:30,480 translator. So there were American real 137 00:07:30,480 --> 00:07:33,560 estate developers that wanted to build manufacturing plants in, 138 00:07:33,600 --> 00:07:38,600 in Mexico and they needed, you know, help in translation 139 00:07:38,600 --> 00:07:41,040 services, in navigating the environment. 140 00:07:41,320 --> 00:07:43,560 And I was a kid, but I, but I could help him with that. 141 00:07:43,920 --> 00:07:46,560 In one instance, the very first time that I made money, I just 142 00:07:46,560 --> 00:07:49,320 got paid, you know, fees for translation services and it was, 143 00:07:49,360 --> 00:07:52,360 you know, a few 100 bucks. But then I kind of realized that 144 00:07:52,360 --> 00:07:54,360 what I was doing was more than translation. 145 00:07:54,360 --> 00:07:58,920 I was actually giving developers the ability to execute their 146 00:07:58,920 --> 00:08:01,400 business plan. And so I thought about it and I 147 00:08:01,400 --> 00:08:04,520 said, well, I really ought to get more. 148 00:08:05,240 --> 00:08:08,080 I did. I mean, maybe it was selfish or 149 00:08:08,080 --> 00:08:10,280 maybe it was just I was trying to take care of my family. 150 00:08:10,400 --> 00:08:13,800 You were like my value is higher than this hourly fee. 151 00:08:13,920 --> 00:08:17,960 Yeah, my value is higher. And there was a very big moment 152 00:08:17,960 --> 00:08:23,440 actually, my grandmother, who was an extraordinarily tough and 153 00:08:23,440 --> 00:08:26,560 resilient woman. She had, she had widowed with 154 00:08:26,560 --> 00:08:32,159 seven children at the age of 29. And she was a tough lady in that 155 00:08:32,159 --> 00:08:36,600 part of the world. For her to run a farm, a ranch, 156 00:08:37,240 --> 00:08:40,400 you as a woman with, you know, seven children, you had to be 157 00:08:40,400 --> 00:08:43,280 extremely tough. And she, she was, she, she was 158 00:08:43,280 --> 00:08:47,640 very well known as a, as a resilient and tough lady who 159 00:08:47,640 --> 00:08:51,280 happened, my grandmother happened to be friends with a 160 00:08:51,280 --> 00:08:54,120 Union Leader in, in, in, in our town. 161 00:08:54,760 --> 00:08:58,640 And the developer that was building a facility, a 162 00:08:58,640 --> 00:09:03,080 manufacturing plant, he needed permits like job permits. 163 00:09:03,440 --> 00:09:07,640 And you have to get those job permits from, from, from the 164 00:09:07,640 --> 00:09:09,640 union. And so I asked my grandma, I 165 00:09:09,640 --> 00:09:12,320 said, Grandma, you, you're friends with the, with this 166 00:09:12,320 --> 00:09:15,000 Union Leader, right? And she said, Oh yeah, that, 167 00:09:15,120 --> 00:09:18,400 that, that man has been in love with me since I was 15 years 168 00:09:18,400 --> 00:09:21,560 old. And, and so I, I said, well, can 169 00:09:21,560 --> 00:09:22,960 you set up an appointment for me? 170 00:09:23,080 --> 00:09:29,520 So of course I showed up at this union leaders office and it was 171 00:09:29,520 --> 00:09:32,480 like out of a Godfather movie. I mean, dark room. 172 00:09:32,480 --> 00:09:35,480 He was fidgeting with a gun. I mean, it was, it was, it was. 173 00:09:36,080 --> 00:09:38,760 And I was, you know, 14 or 15 years old and their favorite. 174 00:09:39,040 --> 00:09:41,840 Quote What was that? You come to me and they and my 175 00:09:41,840 --> 00:09:43,440 daughter. Is kidding pretty much. 176 00:09:43,680 --> 00:09:46,720 We love that we say it all. The time exactly. 177 00:09:47,640 --> 00:09:53,840 And so, so I, I, I walk in. I, I, I, he asked me my 178 00:09:53,840 --> 00:09:56,160 grandmother's name was on Paro. And he says, you're on Paro's 179 00:09:56,160 --> 00:09:59,360 grandson, right? And I said, yes, he says, she 180 00:09:59,360 --> 00:10:00,800 called me. I know what you want. 181 00:10:00,800 --> 00:10:02,880 I know what you need, and I'll give it to you. 182 00:10:04,160 --> 00:10:05,640 And I said, oh, well, well, thank you. 183 00:10:05,640 --> 00:10:08,400 And, and he said, yeah, I'll do it because I've been in love 184 00:10:08,400 --> 00:10:10,880 with your grandmother since she was, since I was 15. 185 00:10:11,720 --> 00:10:15,360 And so he says that. And, and so, you know, he writes 186 00:10:15,360 --> 00:10:18,960 down in a little napkin that this should be approved. 187 00:10:19,360 --> 00:10:22,920 And then I go to another guy and then that person was the the his 188 00:10:23,040 --> 00:10:27,160 underlying and facilitator. And so we had an approval for 189 00:10:27,200 --> 00:10:29,480 jobs permits. And I went to the developer and 190 00:10:29,480 --> 00:10:33,360 I said, hey, you know, you've been working on getting these 191 00:10:33,360 --> 00:10:37,960 job permits for about a year. What would you pay to have 192 00:10:38,240 --> 00:10:43,320 access to these job permits? And he said, well, you know, if 193 00:10:43,320 --> 00:10:47,040 we could partner with this person, with them or, you know, 194 00:10:47,080 --> 00:10:50,960 pay X amount, we would do it to get the building permits. 195 00:10:50,960 --> 00:10:53,680 And I said, well, you know, I actually have the permits in my 196 00:10:53,680 --> 00:10:56,240 possession and I I'll take that offer. 197 00:10:56,240 --> 00:10:59,080 I'll take 5% equity in, in the building. 198 00:10:59,800 --> 00:11:02,760 And, and he, you know, he, he agreed. 199 00:11:02,760 --> 00:11:06,200 We signed it and we did that, you know, 5-4 or five more 200 00:11:06,200 --> 00:11:08,360 times. And, and that was the first time 201 00:11:08,360 --> 00:11:10,840 I ever owned anything. I was about 15 years old And, 202 00:11:11,040 --> 00:11:13,280 and these buildings were not, you know, they were pretty 203 00:11:13,280 --> 00:11:15,800 substantial facilities. They had leverage, they had 204 00:11:15,800 --> 00:11:18,280 financing and everything. So, but I learned it. 205 00:11:18,280 --> 00:11:20,520 And then I worked for that person for the next four or five 206 00:11:20,520 --> 00:11:23,840 years, and I was a project manager and I was running real 207 00:11:23,840 --> 00:11:25,800 estate development deals from his office. 208 00:11:25,800 --> 00:11:29,080 And so I was running them effectively myself as the 209 00:11:29,080 --> 00:11:32,440 coordinator and orchestra conductor of engineers and 210 00:11:32,440 --> 00:11:34,360 architects and construction companies. 211 00:11:34,360 --> 00:11:36,800 And that's why I learned the craft as a kid. 212 00:11:37,000 --> 00:11:38,800 But I was making good money and that was important. 213 00:11:39,160 --> 00:11:42,800 But it was important because I could, I support my mom and, and 214 00:11:42,800 --> 00:11:45,480 the family. And that was sort of the, the 215 00:11:45,480 --> 00:11:49,320 Seminole moment that, you know, that made me want to generate 216 00:11:50,040 --> 00:11:53,720 wealth as a, as a protective measure, not so much for, you 217 00:11:53,720 --> 00:11:57,320 know, buying things or whatever. It was really a, a sort of a 218 00:11:57,320 --> 00:11:59,680 protective, protecting the family. 219 00:12:00,320 --> 00:12:03,880 That was my 100% of my goal was to protect the family. 220 00:12:04,520 --> 00:12:07,080 And Leon Capital was born. Yeah, technically. 221 00:12:07,080 --> 00:12:09,480 On a napkin. Well, technically, you know, 222 00:12:09,480 --> 00:12:17,000 Leon Capital wasn't signed into existence until like 2000, 2004, 223 00:12:17,000 --> 00:12:19,480 yeah, 2004. Germination. 224 00:12:19,920 --> 00:12:22,800 Yeah, You're right that the ideological germination was, was 225 00:12:23,280 --> 00:12:26,960 was there because you're right. What happened was I later when I 226 00:12:26,960 --> 00:12:30,600 was working at Goldman Sachs, you know, I, I said, you know, I 227 00:12:30,600 --> 00:12:33,680 want to go back to Texas and do what I was doing before. 228 00:12:33,680 --> 00:12:36,600 Like I was good at that. I got to get back and say, yes, 229 00:12:36,600 --> 00:12:38,160 you're right. That, that it was always pulling 230 00:12:38,160 --> 00:12:42,520 me to come back to Texas after being on at Goldman. 231 00:12:42,840 --> 00:12:47,440 And I, you know, the, the idea was, had been built or was 232 00:12:47,440 --> 00:12:49,280 inside of me and I just needed to get back to it. 233 00:12:49,280 --> 00:12:53,560 So you're right that that that was the origin of who I was. 234 00:12:54,360 --> 00:12:56,840 I mean, and that's something you you've talked about before. 235 00:12:56,840 --> 00:13:00,240 You said company ownership is the most hidden secret in 236 00:13:00,240 --> 00:13:03,680 American capitalism. What I mean by that is that I 237 00:13:03,680 --> 00:13:06,880 think, you know, you can own a lot of things. 238 00:13:06,880 --> 00:13:10,960 You can own ideas, you can own, you can own your time. 239 00:13:11,280 --> 00:13:16,240 But the concept of an asset, they're never too young to own 240 00:13:16,240 --> 00:13:19,800 an asset, right? And so I have AI have a nephew 241 00:13:20,600 --> 00:13:23,280 who I told recently, he said, Uncle Fernando, like, what do I, 242 00:13:23,680 --> 00:13:26,040 how do I start to create wealth? And I said, Hey, you know, 243 00:13:26,040 --> 00:13:29,800 you're renting an apartment. Go go find a way to buy a town 244 00:13:29,800 --> 00:13:34,760 home, a duplex and lease the second-half of it and use that 245 00:13:34,760 --> 00:13:38,520 to pay off the mortgage for for the two sides and start with 246 00:13:38,520 --> 00:13:43,040 that own an asset, you know, get financing, figure out how to own 247 00:13:43,040 --> 00:13:46,320 an asset. And so I do think that asset 248 00:13:46,320 --> 00:13:50,760 ownership, you know, that that asset, he will pay it off over, 249 00:13:50,920 --> 00:13:54,800 you know, 15 year loan amortization and he'll own an 250 00:13:54,800 --> 00:13:58,000 asset 15 years from now. But he's 21 And so he'll be 36 251 00:13:58,000 --> 00:14:02,400 and he'll own an asset and he'll say, wow, like I, I, I, I built 252 00:14:02,400 --> 00:14:04,280 something, I owned something and it was painful. 253 00:14:04,280 --> 00:14:06,880 Maybe, maybe he's got to live, you know, within his means and 254 00:14:06,880 --> 00:14:08,320 save more. Maybe he can't go to the 255 00:14:08,320 --> 00:14:11,080 restaurants and make sacrifices. But when he's older, he'll, 256 00:14:11,080 --> 00:14:13,280 he'll be great. He'll be glad that he paid off 257 00:14:13,920 --> 00:14:16,520 an asset. And so I think asset ownership, 258 00:14:16,880 --> 00:14:22,200 company ownership is, is the way that you build wealth. 259 00:14:22,200 --> 00:14:25,880 And I, I don't, I, I think it's a simple statement, but it's 260 00:14:25,880 --> 00:14:28,520 hard to do. And, and you just got to find 261 00:14:28,520 --> 00:14:31,360 the openings to figure out how how to get it for yourself. 262 00:14:32,360 --> 00:14:36,160 Nobody's going to yeah, I can't give you like the, the story of 263 00:14:36,160 --> 00:14:38,840 what it's going to be for, for anybody except for me, right? 264 00:14:39,040 --> 00:14:43,760 But for others, they got to find their own entry point and and 265 00:14:44,160 --> 00:14:48,080 and get figure out a way to get a piece, buy a stock, buy a 266 00:14:48,080 --> 00:14:52,920 bond, buy a house, buy a duplex, buy something and then over time 267 00:14:53,120 --> 00:14:56,720 make it grow. So early on in your career, you 268 00:14:56,720 --> 00:15:00,440 invested in Chick-fil-A when the big guys thought we've done our 269 00:15:00,440 --> 00:15:03,800 research. Yeah, we've done our research. 270 00:15:03,800 --> 00:15:05,040 Didn't think about that one for a while. 271 00:15:05,040 --> 00:15:05,320 Did. You. 272 00:15:05,320 --> 00:15:09,000 I know. When the big guys thought it was 273 00:15:09,000 --> 00:15:12,320 beneath them, what did you understand that other people 274 00:15:12,320 --> 00:15:15,080 didn't see? And what's an industry you're 275 00:15:15,080 --> 00:15:19,080 investing in now that others still overlook or possibly 276 00:15:19,080 --> 00:15:20,560 underestimate? Oh, interesting. 277 00:15:20,840 --> 00:15:25,400 OK, so first of all, the Chick-fil-A trade was not in the 278 00:15:25,400 --> 00:15:27,200 company itself. It's that's a private company. 279 00:15:27,200 --> 00:15:30,440 It's owned by a family. They, they, as much as any of us 280 00:15:30,440 --> 00:15:32,280 would want to invest in Chick-fil-A, you can't. 281 00:15:32,960 --> 00:15:34,800 It's owned a multi generational trust. 282 00:15:34,800 --> 00:15:38,320 So that's not going anywhere. But what I did was I said, I 283 00:15:38,320 --> 00:15:44,360 think this concept is massive and people love it and they have 284 00:15:44,360 --> 00:15:47,760 this connection to it. You know, a large percentage of 285 00:15:47,760 --> 00:15:50,200 people surveyed, they go to Chick-fil-A when you ask them if 286 00:15:50,200 --> 00:15:51,840 it's fast food, we'll tell you it's not. 287 00:15:52,200 --> 00:15:54,880 So it tells you, you know, the service, everything was built 288 00:15:55,160 --> 00:15:58,440 with intentionality. And I wanted to participate in 289 00:15:58,520 --> 00:16:00,200 in that business plan, but I couldn't. 290 00:16:00,440 --> 00:16:03,120 So the way I couldn't invest in the company directly. 291 00:16:03,120 --> 00:16:06,760 So what I decided to do was I had a piece of land, the very 292 00:16:06,760 --> 00:16:11,000 first building that I built for Chick-fil-A, I owned a piece of 293 00:16:11,000 --> 00:16:15,040 land in San Angelo, TX, small little town. 294 00:16:15,040 --> 00:16:18,440 I had bought some, some land from a bank that had default 295 00:16:18,840 --> 00:16:20,720 borrower had defaulted on a piece of land. 296 00:16:21,040 --> 00:16:24,960 And I owned these sites all over the state of Texas and, and 297 00:16:24,960 --> 00:16:26,440 Chick-fil-A really wanted that site. 298 00:16:26,920 --> 00:16:29,760 And I said, well, I will, I'll build it for you. 299 00:16:29,760 --> 00:16:32,320 I said no. And we, you know, we traded hard 300 00:16:32,320 --> 00:16:35,840 for a while and they finally agreed and we built a building 301 00:16:35,840 --> 00:16:39,400 that they leased. And my philosophy of that was to 302 00:16:39,400 --> 00:16:43,680 say, well, if I can't invest in the company, but let's say that 303 00:16:43,680 --> 00:16:47,880 Chick-fil-A was selling $2,000,000 of, of, of product of 304 00:16:47,880 --> 00:16:53,000 chicken there and I was renting the building for $200,000 to 305 00:16:53,000 --> 00:16:57,320 them per year. That means that for every, for 306 00:16:57,320 --> 00:17:01,280 every 10 pieces of chicken that they sold, one of them was being 307 00:17:01,280 --> 00:17:04,800 sold on my behalf because I owned $200,000 of rent as a 308 00:17:04,800 --> 00:17:07,920 royalty on a top $2,000,000 sales figure. 309 00:17:08,160 --> 00:17:11,680 So I effectively owned 110th of their total revenue production 310 00:17:11,800 --> 00:17:15,079 at that site. And, and that was my way to be 311 00:17:15,079 --> 00:17:17,520 in business with Chick-fil-A. And I did that with Starbucks 312 00:17:17,520 --> 00:17:19,480 and I did that with many companies around the country. 313 00:17:19,480 --> 00:17:22,440 711 I did. That was my philosophy about it 314 00:17:22,440 --> 00:17:26,000 was if I could own the real estate, whoever leased it from 315 00:17:26,000 --> 00:17:30,680 me was effectively my partner on some portion that came to me 316 00:17:30,680 --> 00:17:34,840 through rent and that was just a philosophical view of it. 317 00:17:35,200 --> 00:17:40,640 So Chick-fil-A and many of those companies, early days, you know, 318 00:17:40,720 --> 00:17:43,560 it was a small deal, you know, giant real estate companies 319 00:17:43,560 --> 00:17:45,480 didn't want to go mess with it. They're like, oh, that's beneath 320 00:17:45,480 --> 00:17:47,320 me. But I was like, I'll do it and, 321 00:17:47,600 --> 00:17:49,600 and I I'll do, I'll do whatever it takes. 322 00:17:49,880 --> 00:17:52,600 So, so we did a lot of it and, and they were fantastic 323 00:17:52,600 --> 00:17:55,240 partners. And many of those businesses 324 00:17:55,240 --> 00:18:00,480 like like Raising Cane, 711, Chase Bank, CBS, all of these 325 00:18:00,680 --> 00:18:03,360 businesses I built buildings for them and we had great 326 00:18:03,360 --> 00:18:07,000 partnership with them on things that I see kind of that others 327 00:18:07,040 --> 00:18:09,120 aren't particularly paying attention to. 328 00:18:10,240 --> 00:18:14,080 So out of the real estate business, about nine years ago, 329 00:18:14,800 --> 00:18:19,640 I Co founded a business called Krexi, which today is based here 330 00:18:19,640 --> 00:18:23,920 in Los Angeles and today is the second largest purveyor of 331 00:18:23,920 --> 00:18:26,000 commercial real estate data in the country. 332 00:18:26,560 --> 00:18:30,840 And so early days, nine years ago, you know, somebody said, 333 00:18:30,840 --> 00:18:33,160 hey, do you want to own this office building? 334 00:18:33,160 --> 00:18:36,200 And do you want, you know, they offered it to me to buy it And I 335 00:18:36,200 --> 00:18:39,000 got to thinking like, what is the opposite of an office 336 00:18:39,000 --> 00:18:41,520 building? And I didn't like the office 337 00:18:41,520 --> 00:18:43,560 building business. I never did any deals in it 338 00:18:43,560 --> 00:18:46,000 because I thought the, the CapEx was too high. 339 00:18:46,000 --> 00:18:48,720 I thought tenants would roll over too much. 340 00:18:48,720 --> 00:18:51,000 So I, I found the cash flows unpredictable. 341 00:18:51,000 --> 00:18:55,720 I didn't like it, but I liked, but I said I want to find the 342 00:18:55,720 --> 00:18:57,720 opposite of it. So it was kind of a, you know, 343 00:18:57,760 --> 00:19:02,160 sort of a mental game with myself and, and my myself and a 344 00:19:02,160 --> 00:19:03,800 Co founder and a couple other people. 345 00:19:04,080 --> 00:19:10,560 We thought about data as the the best commodity to try to own in 346 00:19:10,560 --> 00:19:13,440 commercial real estate. And today we have about 5 347 00:19:13,440 --> 00:19:16,680 million people on the site. We have hundreds of thousands of 348 00:19:16,680 --> 00:19:21,640 subscribers and then we have a listing service where commercial 349 00:19:21,640 --> 00:19:24,040 real estate is listed, you know, a la Zillow. 350 00:19:24,040 --> 00:19:29,120 And, and then also we, we harness data, we synthesize it 351 00:19:29,280 --> 00:19:33,840 and then we sell it as lease comps, as sales comps and 352 00:19:33,840 --> 00:19:36,320 information that is really, really important to commercial 353 00:19:36,320 --> 00:19:38,880 real estate professionals in order to make decisions about 354 00:19:39,520 --> 00:19:42,120 selling a property, buying a property, leasing a property, 355 00:19:42,160 --> 00:19:43,640 financing a property, things like that. 356 00:19:43,640 --> 00:19:47,240 So we, we sell, you know, information and data to 357 00:19:47,840 --> 00:19:50,600 appraisal district and, you know, city governments, 358 00:19:51,240 --> 00:19:54,440 brokerage, real estate brokerage companies, things like, you 359 00:19:54,440 --> 00:19:55,720 know, groups like that all over the country. 360 00:19:55,720 --> 00:20:00,920 And it's become a huge company with about 600 employees roughly 361 00:20:01,600 --> 00:20:04,280 based here in, in, in the LA area. 362 00:20:04,640 --> 00:20:07,720 And it's a, it's a fantastic business, but we saw it way 363 00:20:07,760 --> 00:20:10,760 earlier than many others. And, and it took a lot of, you 364 00:20:10,760 --> 00:20:14,400 know, a lot of capital to, to stand it up and to, to fight 365 00:20:14,400 --> 00:20:15,880 through the competitive landscape. 366 00:20:16,200 --> 00:20:20,120 And there were massive. Semi monopolistic competitors 367 00:20:20,120 --> 00:20:23,240 that were tough to engage and, and fight through and still 368 00:20:24,000 --> 00:20:26,480 takes a lot of stamina to fight through that. 369 00:20:26,480 --> 00:20:29,640 So yeah, that's one of the things that we saw and that I 370 00:20:29,640 --> 00:20:33,880 think we, you know, we, we helped build and, and it's a 371 00:20:34,080 --> 00:20:37,360 massive business and I'm really proud of the work we've done 372 00:20:37,360 --> 00:20:39,600 there. I think that's so cool because I 373 00:20:39,600 --> 00:20:44,000 think it's such a good example of your business intuition 374 00:20:44,360 --> 00:20:46,680 because you came from the world of real estate. 375 00:20:46,680 --> 00:20:49,080 Like that's what you knew, like hard capital, assets, all the 376 00:20:49,080 --> 00:20:52,840 stuff, but you were like, what is a business that I want to get 377 00:20:52,840 --> 00:20:56,440 into that I know enough about that I have a competitive edge. 378 00:20:56,680 --> 00:20:59,200 And so you're like data, I want to get into that business. 379 00:20:59,440 --> 00:21:01,440 And they're like, how can I do it through real estate? 380 00:21:01,440 --> 00:21:03,320 I think that is. So there's like, there's 381 00:21:03,560 --> 00:21:06,160 definitely a lesson there because I think a lot of people 382 00:21:06,160 --> 00:21:09,120 are trying to transition what they do and they're like, how 383 00:21:09,120 --> 00:21:13,040 can I possibly, you know, get into or like even myself? 384 00:21:13,040 --> 00:21:16,080 When I worked, I started off working at Goldman and I thought 385 00:21:16,080 --> 00:21:17,560 I was going to work in finance my whole life. 386 00:21:17,560 --> 00:21:22,480 And then after two years, I was like, yeah, yeah. 387 00:21:22,480 --> 00:21:24,560 And I was like, I want to work in consumer tech. 388 00:21:24,560 --> 00:21:29,360 How do I work in consumer tech? It's like you find you find the. 389 00:21:30,080 --> 00:21:31,480 Entry point. The entry point, yeah. 390 00:21:32,000 --> 00:21:35,800 But I will say that I think part of the lesson too, for me at 391 00:21:35,800 --> 00:21:42,760 least, was real estate was comfortable, but but technology 392 00:21:42,760 --> 00:21:46,200 and engineering and software development was not. 393 00:21:46,360 --> 00:21:50,240 I was really like I, I had a discomfort and a little bit of a 394 00:21:50,240 --> 00:21:52,280 fear. I can talk about it now in the 395 00:21:52,280 --> 00:21:55,200 moment, I probably didn't internalize the fear that I 396 00:21:55,200 --> 00:21:58,120 really had. And so I think that to me, the 397 00:21:58,120 --> 00:22:02,600 lesson in many respects is everybody has fear. 398 00:22:02,920 --> 00:22:04,520 We all have fear about something, right? 399 00:22:04,520 --> 00:22:06,200 Something that we don't understand or don't know. 400 00:22:06,560 --> 00:22:09,000 And So what do you do with it, Do you? 401 00:22:09,000 --> 00:22:11,840 I think about it and I say, OK, well, let me let me understand 402 00:22:11,840 --> 00:22:14,480 my fear. Let me then compartmentalize it 403 00:22:14,680 --> 00:22:17,800 and then leverage it so I can adapt around it. 404 00:22:18,400 --> 00:22:20,920 But you got to leverage it. If you are afraid to leverage 405 00:22:20,920 --> 00:22:23,320 that fear, then then you don't go anywhere. 406 00:22:23,320 --> 00:22:26,000 I think you get stuck. And so to me, it was always 407 00:22:26,000 --> 00:22:29,400 about putting it in a box and saying, let's go, right, like, 408 00:22:29,400 --> 00:22:33,280 let's, let's move against that thing and lean into the to the 409 00:22:33,520 --> 00:22:34,800 whatever's causing you a discomfort. 410 00:22:34,800 --> 00:22:37,160 But you got to recognize it, be a little bit self aware and 411 00:22:37,160 --> 00:22:39,080 fight through it. And I don't, I don't, I think a 412 00:22:39,080 --> 00:22:41,440 lot of people don't want to do that, but you, you should want 413 00:22:41,440 --> 00:22:45,760 to do it. That's how you adapt and evolve 414 00:22:45,760 --> 00:22:49,400 and progress in your life journey. 415 00:22:49,560 --> 00:22:53,240 Is leveraging it almost like using that fear as a motivation? 416 00:22:53,400 --> 00:22:55,560 Or how do you leverage it practically? 417 00:22:55,600 --> 00:22:59,480 I mean, yes, yeah, I think leveraging it as motivation, but 418 00:22:59,480 --> 00:23:03,520 I think also there's like a like a almost like a resentment or an 419 00:23:03,520 --> 00:23:06,920 anger that you have against a certain weakness. 420 00:23:06,920 --> 00:23:09,880 It's like, you know what, I know it's there and screw it, I'm 421 00:23:09,880 --> 00:23:13,360 going to go and fight it directly, like head on and and 422 00:23:13,360 --> 00:23:16,280 who does that? Like it's tough to do and and it 423 00:23:16,320 --> 00:23:20,880 yeah, it's so, so yes, I think it's, it's, it's leveraging it, 424 00:23:20,880 --> 00:23:27,480 it's modifying it, but it's also having a certain resentment that 425 00:23:27,480 --> 00:23:31,080 makes that fuels you. So do you want it or not? 426 00:23:31,080 --> 00:23:36,080 And, and I think the people that that succeed are willing to to 427 00:23:36,080 --> 00:23:41,720 go right at it and fight it with a little bit of a little bit of 428 00:23:42,160 --> 00:23:44,520 anger or resentment or whatever you want to call it. 429 00:23:44,520 --> 00:23:49,640 But it's not a soft feeling. It is an aggressive feeling. 430 00:23:49,840 --> 00:23:52,920 I think that's the difference. And I would say embrace it, 431 00:23:53,240 --> 00:23:56,480 yeah. Interesting, I'm having so many 432 00:23:56,480 --> 00:23:59,440 associations right now. Like I feel like there needs to 433 00:23:59,440 --> 00:24:04,040 be a superhero track theme song, like going on in the background 434 00:24:04,040 --> 00:24:06,120 as you're saying this because it kind of reminds me of like 435 00:24:06,120 --> 00:24:08,840 Batman or like Batman Begins or like The Dark Knight or. 436 00:24:09,320 --> 00:24:11,280 Yes. Where like I see Fernando, I see 437 00:24:11,280 --> 00:24:12,760 it in you in the way that you're talking about it. 438 00:24:12,960 --> 00:24:15,080 It's really powerful as you're just saying it. 439 00:24:15,080 --> 00:24:17,800 I'm like, you know, absorbing everything, but also kind of 440 00:24:17,800 --> 00:24:22,000 just like witnessing kind of how you how you work and how your 441 00:24:22,000 --> 00:24:25,320 brain works and kind of some I'm just it's really admirable that 442 00:24:25,320 --> 00:24:27,400 I'm just like kind of seeing the power right now. 443 00:24:27,680 --> 00:24:30,400 And it feels like The Dark Knight when he's like, you know, 444 00:24:30,920 --> 00:24:32,320 you know, training. Training. 445 00:24:32,320 --> 00:24:34,600 Yeah, it's kind. Of I think it is training. 446 00:24:35,240 --> 00:24:37,720 You know, your mind needs to train, right? 447 00:24:37,720 --> 00:24:40,880 Like, yeah, like if you've got a soft spot in your body and you 448 00:24:40,880 --> 00:24:43,080 physically train for it, it's no different with the brain. 449 00:24:43,520 --> 00:24:47,120 The brain says, oh, no, not there, no, that's where you go. 450 00:24:47,480 --> 00:24:50,480 And and that's not, not a natural state. 451 00:24:50,480 --> 00:24:52,600 It's not a comfortable thing. If you're comfortable, you're 452 00:24:52,600 --> 00:24:54,880 not doing it right. Like it's got to be, it's got to 453 00:24:54,880 --> 00:24:57,280 be you. Like it's suffering through it. 454 00:24:57,640 --> 00:25:00,240 I do believe that. And I think it's really hard to 455 00:25:00,480 --> 00:25:04,200 do on a self-awareness basis. It doesn't come naturally. 456 00:25:04,200 --> 00:25:06,400 You've got to train for it for. Sure. 457 00:25:07,200 --> 00:25:10,240 A question for you, maybe I don't know if this will kind of 458 00:25:10,240 --> 00:25:12,960 push you to think a little bit more about the opposite side of 459 00:25:12,960 --> 00:25:16,280 that. It's like I talk to myself with 460 00:25:16,320 --> 00:25:20,600 a lot of harshness in a good way though, like I push myself and 461 00:25:20,600 --> 00:25:23,360 I'm like, you can do like do it, like go for it. 462 00:25:23,640 --> 00:25:27,320 Is there a softness I I wonder is there a voice in your head 463 00:25:27,320 --> 00:25:31,280 that also embraces like the softer, kinder side of. 464 00:25:31,520 --> 00:25:34,480 Motivation. I think so because it depends on 465 00:25:34,800 --> 00:25:37,760 why are you doing it? Like why? 466 00:25:37,760 --> 00:25:40,480 Why are you pursuing that? Is it all about you? 467 00:25:41,320 --> 00:25:45,360 It was never about me in, in the things I tried to accomplish. 468 00:25:45,360 --> 00:25:49,640 It was about our family. And and so there were, you know, 469 00:25:49,960 --> 00:25:53,800 five siblings and now I have, you know, four children. 470 00:25:53,960 --> 00:25:58,120 These things matter in the context of, of our family. 471 00:25:58,480 --> 00:26:05,000 And this is a philosophy of, of, of survival, of pursuit, of 472 00:26:05,000 --> 00:26:08,440 improvement. And so I, I think, yeah, if you, 473 00:26:08,520 --> 00:26:10,480 it depends on who you're doing it for, right? 474 00:26:10,480 --> 00:26:14,680 If you, you know, I, I, I bet in your relationship between you 2, 475 00:26:14,680 --> 00:26:18,400 I bet that there is a, a feeling of accountability of not wanting 476 00:26:18,400 --> 00:26:21,560 to let each other down, of wanting to pursue together in 477 00:26:21,560 --> 00:26:23,960 that journey. So it's not about entirely about 478 00:26:23,960 --> 00:26:25,720 you. It's about both of you and about 479 00:26:25,840 --> 00:26:29,360 your family and, and, and you know, a certain gratitude that 480 00:26:29,360 --> 00:26:33,360 you have for your parents in the effort they put to send you to, 481 00:26:33,520 --> 00:26:36,400 you know, good schools and to and to provide an environment 482 00:26:36,400 --> 00:26:39,680 like you are a function of those feelings, right? 483 00:26:39,680 --> 00:26:43,880 You can't, you can't move those. So I do think that having a 484 00:26:44,000 --> 00:26:49,600 cause for others and for yourself and for, you know, a 485 00:26:49,640 --> 00:26:56,400 company is massively inspiring. And I, I look at our companies 486 00:26:56,720 --> 00:27:01,880 and I bet AI don't know how to quantify this, but a substantial 487 00:27:01,880 --> 00:27:05,960 part of my motivation to build a business is that the people that 488 00:27:05,960 --> 00:27:08,600 are there, I want them to have good lives. 489 00:27:08,600 --> 00:27:11,160 I want to be supportive of their professional development. 490 00:27:11,520 --> 00:27:15,520 Like I don't want them. I mean, I feel like I'm 491 00:27:15,520 --> 00:27:19,120 obligated and I am accountable. And so we need to go row in that 492 00:27:19,120 --> 00:27:21,880 direction and make that company, that business, our initiative 493 00:27:21,880 --> 00:27:24,040 work. And so I don't know that I think 494 00:27:24,040 --> 00:27:27,640 it depends on who the softer side to your on your question is 495 00:27:27,640 --> 00:27:29,760 about the people around you. Who are you doing it for and 496 00:27:29,760 --> 00:27:32,560 why? If it's I don't, I suspect that 497 00:27:32,560 --> 00:27:35,120 if you're entirely self-centered, you probably 498 00:27:35,120 --> 00:27:39,120 don't have the leadership and the charisma to motivate others 499 00:27:39,120 --> 00:27:41,120 to come with you in building something. 500 00:27:41,840 --> 00:27:44,720 If you're just self absorbed and you don't have this softer side 501 00:27:44,720 --> 00:27:47,400 to, to ask others to come with you, how do you scale? 502 00:27:47,920 --> 00:27:50,760 You have to be, you have to be. I mean, I'm sure there's plenty 503 00:27:50,760 --> 00:27:53,560 of people that control great technologies that can just be 504 00:27:53,560 --> 00:27:57,120 total jerks and don't care about anybody but themselves because 505 00:27:57,120 --> 00:28:00,440 our technology is great. But I think for the most part, 506 00:28:00,440 --> 00:28:05,560 for mere mortals like, like, like us, I think you your 507 00:28:05,560 --> 00:28:08,600 ability to inspire and motivate others is what gives you 508 00:28:08,600 --> 00:28:12,120 operating leverage and allows you to go forward, forward. 509 00:28:12,120 --> 00:28:13,960 So I do think there is definitely a softer site I love. 510 00:28:14,800 --> 00:28:17,840 That I think it's very cool, like listening to you speak, it 511 00:28:17,840 --> 00:28:22,080 makes a lot of sense in understanding that your original 512 00:28:22,080 --> 00:28:24,240 motivation was to provide for your family. 513 00:28:24,240 --> 00:28:28,360 And now it almost sounds like you view your company as like 514 00:28:28,360 --> 00:28:31,880 your broader family now. And so it's just like scaling up 515 00:28:31,880 --> 00:28:36,960 that same, that same like desire from a young age and now you're 516 00:28:36,960 --> 00:28:38,920 just doing it on a much bigger scale. 517 00:28:38,920 --> 00:28:40,920 Yeah, I, I think so. I think there's a lot of people 518 00:28:40,920 --> 00:28:43,680 that have worked with me for 15 or 20 years that are 519 00:28:44,440 --> 00:28:45,880 extraordinarily important in my life. 520 00:28:45,920 --> 00:28:49,000 And those people, you know, I know their families and I know 521 00:28:49,520 --> 00:28:52,880 what they've done to sacrifice time and effort and, you know, 522 00:28:52,880 --> 00:28:57,840 the, the toughness that they've exemplified to build a business. 523 00:28:57,880 --> 00:29:00,760 And how could you not be reciprocal? 524 00:29:00,760 --> 00:29:01,520 So you. Yeah. 525 00:29:01,520 --> 00:29:05,920 So I think every, every business that we've built, there are men 526 00:29:05,920 --> 00:29:10,600 and women that have sacrificed time and, and, and there are, 527 00:29:11,360 --> 00:29:13,440 you know, other things in their life in order to build those 528 00:29:13,440 --> 00:29:15,480 businesses. So you have to be, I think, I 529 00:29:15,480 --> 00:29:20,120 think it's, it's the right thing to, to be reciprocal in, in 530 00:29:20,120 --> 00:29:21,240 having their back. Yeah. 531 00:29:22,440 --> 00:29:25,200 Fernando, we're going to go through some more tactics and 532 00:29:25,200 --> 00:29:27,840 advice. So if you were starting from 533 00:29:27,840 --> 00:29:31,560 zero today, what is the first real move that you'd make to 534 00:29:31,840 --> 00:29:35,520 build wealth? The truth is that when you don't 535 00:29:35,520 --> 00:29:39,600 have anything, what you really, if you don't have capital or 536 00:29:39,600 --> 00:29:43,040 resources, right? Like you have to figure out how 537 00:29:43,040 --> 00:29:46,080 to to get some. I know that sounds kind of 538 00:29:46,080 --> 00:29:49,160 basic, but it's true. Can you find maneuvers and 539 00:29:49,160 --> 00:29:52,880 tactics for yourself that aren't about capital? 540 00:29:52,880 --> 00:29:55,320 Because if you say, well, I don't have capital, I don't know 541 00:29:55,320 --> 00:29:58,160 how to get it, and then a night so I can't do anything. 542 00:29:58,600 --> 00:30:02,120 Well, then you're stuck. So it's I don't have capital, 543 00:30:02,360 --> 00:30:05,520 but I'm going to find a way creatively to accomplish 544 00:30:05,520 --> 00:30:11,160 something through an idea, a tactic, some kind of insight, 545 00:30:11,560 --> 00:30:13,360 persuasion, charisma, whatever. Right. 546 00:30:13,360 --> 00:30:16,480 Like salesman strip, whatever it takes and you're going to find a 547 00:30:16,480 --> 00:30:19,240 way to maneuver around the opportunity and find value and 548 00:30:19,240 --> 00:30:21,800 extract it. That that is something that 549 00:30:21,800 --> 00:30:25,480 anybody can do. There are no handbooks for it. 550 00:30:25,480 --> 00:30:28,480 There are no manuals for it, but you've got to develop it for 551 00:30:28,480 --> 00:30:31,000 yourself. And then it'll manifest itself 552 00:30:31,000 --> 00:30:34,920 as value creation that you are able to at some point extract. 553 00:30:35,000 --> 00:30:38,160 And so for instance, when I, you know, when I first started my 554 00:30:38,160 --> 00:30:44,680 career in, in Dallas building subdivisions, the first ones was 555 00:30:44,680 --> 00:30:47,320 a piece of land and I didn't have the ability to buy that 556 00:30:47,320 --> 00:30:48,880 piece of land and build a subdivision. 557 00:30:49,360 --> 00:30:55,920 So I had to go and talk to a landowner and say, Hey, I have 558 00:30:55,920 --> 00:30:58,720 this idea for building this land into a subdivision. 559 00:30:58,720 --> 00:31:01,480 And I'm going to sell these lots to home builders. 560 00:31:01,480 --> 00:31:04,640 And, and I'm going to, you know, these are my, my, this is my, 561 00:31:04,800 --> 00:31:07,560 my, my numbers, my, my expectations. 562 00:31:08,600 --> 00:31:10,840 Would you like to be a partner in this? 563 00:31:11,480 --> 00:31:13,360 And they would contribute it into a partnership. 564 00:31:13,360 --> 00:31:16,680 Or sometimes I would have an option to buy the land and then 565 00:31:16,680 --> 00:31:19,840 go get entitlements or zoning changes from the city. 566 00:31:20,200 --> 00:31:22,400 And I could go do that through persuasion. 567 00:31:22,400 --> 00:31:25,440 I could convince the city to let me, you know, change it from an 568 00:31:25,440 --> 00:31:27,880 agricultural use to a residential use. 569 00:31:28,120 --> 00:31:30,520 And then that made the value of the land more valuable. 570 00:31:31,040 --> 00:31:33,720 And therefore I could get financing and limit the amount 571 00:31:33,720 --> 00:31:38,760 of capital that I needed. But I think that early days my, 572 00:31:39,120 --> 00:31:43,040 my instincts were about how do I build value? 573 00:31:43,080 --> 00:31:45,560 OK, so this piece of land, I'm going to option it. 574 00:31:45,760 --> 00:31:47,520 And if I change the zoning, it's more valuable. 575 00:31:48,080 --> 00:31:50,440 The option contract was a piece of paper. 576 00:31:51,280 --> 00:31:54,680 And then I had to convince engineers to do the work without 577 00:31:54,680 --> 00:31:57,560 me paying them. They're like, but you're 24, why 578 00:31:57,560 --> 00:31:59,520 am I listening to you? I'm like, come on, man, let's do 579 00:31:59,520 --> 00:32:01,640 this together. And, and then it's like, I'll 580 00:32:01,640 --> 00:32:04,000 take you hunting or whatever I did. 581 00:32:04,000 --> 00:32:07,240 I took these guys hunting when they, they did some work for me 582 00:32:07,240 --> 00:32:08,480 and and they made good the money. 583 00:32:08,480 --> 00:32:11,440 I, I ultimately I paid them because I was able to execute on 584 00:32:11,440 --> 00:32:15,320 this, on this project. But I don't know like that that 585 00:32:15,320 --> 00:32:18,080 isn't a economic thing. It's not a capital constraint. 586 00:32:18,280 --> 00:32:22,120 It was just like getting people to agree with you and follow 587 00:32:22,120 --> 00:32:24,520 you. And so I think often times it's 588 00:32:24,520 --> 00:32:30,800 about a little bit of tactical creativity and, and finding 589 00:32:31,320 --> 00:32:33,520 people that want to advocate for you. 590 00:32:33,520 --> 00:32:36,280 That person, by the way, that that put that land into a 591 00:32:36,280 --> 00:32:38,720 partnership with me. His name is Harold Pullman. 592 00:32:38,720 --> 00:32:44,320 And he, he was like in his early 80s And he, he actually told me, 593 00:32:44,320 --> 00:32:45,880 he said that piece of land can't be developed. 594 00:32:45,880 --> 00:32:51,200 I started, I, I, he had come back from World War 2 and had 595 00:32:51,200 --> 00:32:54,720 built homes for GIS and this was a little extra piece of land 596 00:32:54,960 --> 00:32:57,720 that he said was unbuildable. And I said, what do you have to 597 00:32:57,720 --> 00:33:00,080 lose then if it's not buildable, let me give it a shot. 598 00:33:00,480 --> 00:33:01,960 And he said you'll never be able to do it. 599 00:33:02,760 --> 00:33:06,040 And, and I went and I convinced the Army Corps of Engineers and 600 00:33:06,040 --> 00:33:10,000 the city and we, we designed around some of the problems. 601 00:33:10,000 --> 00:33:13,760 And it took me a year and, and all of it came together. 602 00:33:13,760 --> 00:33:16,440 And he was shocked. He's like, you know, I tried 603 00:33:16,440 --> 00:33:18,320 doing that for 40 years and I couldn't do it. 604 00:33:18,320 --> 00:33:20,720 But, but, but you did. And, and so kudos to you. 605 00:33:21,120 --> 00:33:24,520 And so there are things that you can do with work and sweat 606 00:33:24,520 --> 00:33:27,640 equity that don't require having, you know, capital day 607 00:33:27,640 --> 00:33:29,680 one. So I would say focus on 608 00:33:29,680 --> 00:33:32,200 creativity, persuasion, salesmanship. 609 00:33:32,680 --> 00:33:35,240 Building something out of nothing is damn hard. 610 00:33:35,240 --> 00:33:38,720 But you, there are everybody who has built something out of 611 00:33:38,720 --> 00:33:42,040 nothing has done it. So, so so give it your shot. 612 00:33:43,120 --> 00:33:47,000 It actually listening to your story reminds you, reminds me of 613 00:33:47,000 --> 00:33:50,440 kind of like our beginning for Tiger Sisters because when we 614 00:33:50,440 --> 00:33:53,720 first conceptualized Tiger Sisters, we were like, actually 615 00:33:53,720 --> 00:33:56,520 we want to build Tiger Sisters as a reality TV show. 616 00:33:56,960 --> 00:33:59,480 And like, we want to bring people along and like have them 617 00:33:59,480 --> 00:34:01,880 like learn these business lessons through this reality TV 618 00:34:01,880 --> 00:34:03,800 show where we would, you know, work with all these different 619 00:34:03,800 --> 00:34:07,160 startups or different companies. And then as we made kind of like 620 00:34:07,160 --> 00:34:09,199 our pitch and we started like bringing to different people, 621 00:34:09,400 --> 00:34:12,000 first of all, we were like, oh wow, Hollywood is like 5 622 00:34:12,000 --> 00:34:15,440 different strikes going on. Not a good time, not. 623 00:34:15,679 --> 00:34:19,920 Actually the worst time in history to bring reality TV to. 624 00:34:20,440 --> 00:34:22,600 Yeah, to life. And then the second thing was we 625 00:34:22,600 --> 00:34:24,320 were like, oh, you know what this actually is going to 626 00:34:24,320 --> 00:34:26,679 create. It requires a lot of capital and 627 00:34:26,679 --> 00:34:30,639 also a lot of sort of like ingrained systems and 628 00:34:30,639 --> 00:34:35,120 relationships are required to to bring something to life in the 629 00:34:35,120 --> 00:34:36,639 Hollywood. System in the traditional. 630 00:34:36,639 --> 00:34:38,239 In the traditional to get. It on a streaming. 631 00:34:38,760 --> 00:34:40,719 Service, yeah. And so we were like, OK, what 632 00:34:40,719 --> 00:34:44,159 can we do that we actually build it on our, our own terms and we 633 00:34:44,159 --> 00:34:47,840 can still achieve the goals that we want, which is bringing sort 634 00:34:47,840 --> 00:34:50,800 of like education to people in a fun, digestible way. 635 00:34:51,280 --> 00:34:54,639 And we're like, let's do a podcast because the barriers to 636 00:34:54,639 --> 00:34:57,640 entry are pretty much nothing, almost nothing. 637 00:34:58,000 --> 00:35:01,720 And we started out in our Home Office, actually at the kitchen 638 00:35:01,720 --> 00:35:04,600 table. Literally in our kitchen, our 639 00:35:04,600 --> 00:35:07,320 dining room table which is very small with these crappy 640 00:35:07,320 --> 00:35:10,440 microphones with a camera that was $400.00. 641 00:35:10,920 --> 00:35:13,280 Like do not watch our earlier episodes because they are not 642 00:35:13,280 --> 00:35:15,120 well produced the way that they are now. 643 00:35:15,320 --> 00:35:17,440 Here information is good. Yeah, the information. 644 00:35:17,440 --> 00:35:19,000 Is good, but you know, we were great. 645 00:35:19,000 --> 00:35:20,800 We were iterating on it constantly. 646 00:35:20,800 --> 00:35:23,840 But if there are obstacles, it's to your story and your point. 647 00:35:23,840 --> 00:35:27,280 It's like, how do you go around it or over it, under it? 648 00:35:27,280 --> 00:35:29,240 But don't let something like that stop you. 649 00:35:29,520 --> 00:35:31,680 We heard a lot of no's in the beginning. 650 00:35:32,040 --> 00:35:36,680 We mourned our reality TV show concept for about 3 days and 651 00:35:36,680 --> 00:35:40,160 we're like we need a pivot. What do we do to actually bring 652 00:35:40,160 --> 00:35:41,600 this to the life the way that we want to? 653 00:35:41,880 --> 00:35:46,240 But it's that concept of taking what you know and like creating 654 00:35:46,240 --> 00:35:50,280 some sort of value without having the capital behind it. 655 00:35:50,280 --> 00:35:52,960 Like you don't need to have capital in order to begin. 656 00:35:53,000 --> 00:35:55,160 Yeah, No, I I totally agree. I mean, I think there are 657 00:35:55,240 --> 00:35:58,440 countless examples of of that situation, that kind of 658 00:35:58,440 --> 00:35:59,800 situation. I think there is a little bit of 659 00:35:59,800 --> 00:36:05,080 like self-awareness too, of just saying, hey, like, for instance, 660 00:36:05,080 --> 00:36:07,320 the brand, like Tiger Sisters, the concept, right? 661 00:36:07,320 --> 00:36:11,120 Like this was like, hey, we know who we are and we think this 662 00:36:11,360 --> 00:36:15,400 will resonate with the public. And then you're authentic, 663 00:36:15,440 --> 00:36:16,760 right? And, and then then 664 00:36:16,760 --> 00:36:19,160 fundamentally, that's what people are responding to, just 665 00:36:19,160 --> 00:36:22,080 like Mr. Pullman was responding to my authenticity. 666 00:36:22,360 --> 00:36:26,160 You know, your viewers are responding to saying, Hey, these 667 00:36:26,160 --> 00:36:30,920 two women are, you know, strong and smart and they're building a 668 00:36:30,920 --> 00:36:35,720 set of ideas that we can rally behind and, and, and understand 669 00:36:35,720 --> 00:36:38,480 and, and the content is valuable to me. 670 00:36:38,480 --> 00:36:41,640 So I think ultimately, by the way, the, the that last part, 671 00:36:41,840 --> 00:36:44,800 it's valuable to me is has to be there. 672 00:36:45,200 --> 00:36:48,760 You can have all the, the dreams, but if it's, if your 673 00:36:48,760 --> 00:36:51,920 viewers find it valuable, then you have something that's 674 00:36:51,920 --> 00:36:55,120 important. Ultimately, I built homes in 675 00:36:55,120 --> 00:36:58,520 that subdivision that were valuable to those people that 676 00:36:58,520 --> 00:37:02,240 lived there and they went and, and built a family there. 677 00:37:02,240 --> 00:37:04,920 They built home equity, they built net worth through home 678 00:37:04,920 --> 00:37:08,080 ownership and that was valuable to, to those groups of people 679 00:37:08,080 --> 00:37:10,280 and to society. So ultimately that last part has 680 00:37:10,280 --> 00:37:13,080 to be there. Otherwise you just, you can't, 681 00:37:13,240 --> 00:37:16,920 you can't fake it, right? That has to that has to permeate 682 00:37:16,920 --> 00:37:19,320 through your through your work. Yeah, I really love that. 683 00:37:19,320 --> 00:37:22,600 It's like so fundamental, but just the idea of like build 684 00:37:22,600 --> 00:37:26,080 something of value. So many people start up 685 00:37:26,080 --> 00:37:28,080 founders, I think, forget about that. 686 00:37:28,080 --> 00:37:29,920 Now they're like, let me just build something. 687 00:37:30,320 --> 00:37:32,880 I wanna do something in AI, I wanna build something AI, blah, 688 00:37:32,880 --> 00:37:34,440 blah, blah. It's like, OK, but is it 689 00:37:34,440 --> 00:37:36,640 valuable to people? Are you building something of 690 00:37:36,640 --> 00:37:39,280 value? Or for instance, the other thing 691 00:37:39,280 --> 00:37:43,720 that is done a lot, not just in Venture, but it's what valuation 692 00:37:43,720 --> 00:37:47,240 can I get? And then that is just a bunch of 693 00:37:47,240 --> 00:37:50,320 group think where somebody says I think it's very valuable and 694 00:37:50,320 --> 00:37:51,720 they're all in the same little bubble. 695 00:37:51,880 --> 00:37:55,440 And then when it goes out to people that are going to consume 696 00:37:55,440 --> 00:37:58,480 that good or service, it turns out that people don't value it. 697 00:37:58,520 --> 00:38:01,560 The only people that valued it were the ones, you know, giving 698 00:38:01,560 --> 00:38:05,480 it a valuation of X or Y. And then the consumers of that 699 00:38:05,480 --> 00:38:07,840 good or service said, you know what, I kind of, it doesn't 700 00:38:07,840 --> 00:38:10,880 really give me anything. And so it and then that that 701 00:38:10,880 --> 00:38:13,360 valuation bubble bursts and it happens all the time too. 702 00:38:14,120 --> 00:38:21,560 So fundamentally a group of people deriving value of time or 703 00:38:21,760 --> 00:38:24,720 or anything through that good or service is the only way you get 704 00:38:24,720 --> 00:38:27,160 rewarded in capitalism. It's fair, it's fair. 705 00:38:27,160 --> 00:38:29,640 It's very, very fair. I've always thought capitalism 706 00:38:29,640 --> 00:38:32,960 is this, you know, interesting, this philosophy that 707 00:38:32,960 --> 00:38:35,640 fundamentally has fairness at its value. 708 00:38:35,640 --> 00:38:39,280 And not everybody agrees with me on that, I think, but, but I do 709 00:38:39,280 --> 00:38:42,960 think that if you give people, you may not like the person that 710 00:38:43,240 --> 00:38:47,800 created that technology or that idea, but why do people consume 711 00:38:47,800 --> 00:38:49,960 it? Because they derive value from 712 00:38:49,960 --> 00:38:51,760 it. So it's a it has to permeate 713 00:38:51,760 --> 00:38:55,120 that, otherwise things breakdown, often very quickly 714 00:38:55,120 --> 00:38:57,560 too. It's kind of a hot take that 715 00:38:57,560 --> 00:39:02,720 capitalism is is fair, yeah. Should we wrap up with one one 716 00:39:02,720 --> 00:39:04,720 last? But when are we talking about 717 00:39:04,720 --> 00:39:07,720 love? What would you have? 718 00:39:07,720 --> 00:39:10,480 Do you have some advice for us? Do you have some advice? 719 00:39:10,480 --> 00:39:12,720 Well, actually do. You want to talk? 720 00:39:13,440 --> 00:39:17,600 About love, I don't know. I think Fernando wants to set us 721 00:39:17,600 --> 00:39:21,840 up, really. I mean, I will try, I will. 722 00:39:21,840 --> 00:39:24,240 I will work really really hard on I guess. 723 00:39:24,720 --> 00:39:26,680 Let me ask you guys a. Question. 724 00:39:26,760 --> 00:39:32,160 About love, OK, how how do, how do very driven, highly 725 00:39:32,160 --> 00:39:38,720 intelligent women, how how do you find the way to sort of 726 00:39:38,720 --> 00:39:43,160 properly interact with, with members of the opposite sex? 727 00:39:43,400 --> 00:39:45,760 How do you, how do you, how do you do that when you're, when 728 00:39:45,760 --> 00:39:47,560 you're so driven? Does it? 729 00:39:47,840 --> 00:39:50,000 Does it make it difficult to date? 730 00:39:50,040 --> 00:39:53,120 You know, someone asked me this exact question yesterday too. 731 00:39:53,360 --> 00:39:56,840 Really. Yeah, over Instagram, there's a 732 00:39:56,840 --> 00:39:59,320 lot of noise and it's actually interesting. 733 00:39:59,320 --> 00:40:02,120 You know what, going back to your earlier point about 734 00:40:02,120 --> 00:40:04,760 credentials blinding you, I think that's where it can be 735 00:40:04,760 --> 00:40:08,080 tough as dating as like a very ambitious women. 736 00:40:08,080 --> 00:40:12,360 So women we like, you know, going to Business School and 737 00:40:12,360 --> 00:40:14,720 like, this is it. I'm going to find, you know, my 738 00:40:14,720 --> 00:40:18,120 partner for life, you know, in my class, all this stuff. 739 00:40:18,440 --> 00:40:22,360 But I think also dating at that level, I want to make sure the 740 00:40:22,720 --> 00:40:25,320 person that I'm dating is supportive of my dreams, goals 741 00:40:25,320 --> 00:40:27,640 and ambitions. I think that can be tough when I 742 00:40:27,880 --> 00:40:30,480 have a lot of them. We have a lot of them and 743 00:40:30,480 --> 00:40:32,720 someone who's not afraid of that, who will support me along 744 00:40:32,720 --> 00:40:35,400 the way. And also I think there's a lot 745 00:40:35,400 --> 00:40:39,160 of noise because at that level, I think the people that we're 746 00:40:39,160 --> 00:40:43,440 dating are also very successful. And it's a balance. 747 00:40:43,440 --> 00:40:46,080 And so they have dreams too. And so making it all 748 00:40:46,080 --> 00:40:48,880 complimentary is not not an easy Rubik's Cube. 749 00:40:49,040 --> 00:40:53,320 And making sure that you know there is no ego when it comes to 750 00:40:53,320 --> 00:40:55,760 love. That part I think is really 751 00:40:55,760 --> 00:40:57,320 hard. And seeing deeply into their 752 00:40:57,320 --> 00:41:00,720 heart, if you can. You know what? 753 00:41:00,760 --> 00:41:07,560 You know what's interesting is is when I first, so I sold a 754 00:41:07,560 --> 00:41:12,480 bunch of assets in like 2007 and then you know when 2008 is. 755 00:41:12,480 --> 00:41:13,560 Nicely done. Well, it. 756 00:41:13,600 --> 00:41:18,400 Was a little bit lucky, but, but, but in 2008, you know, I 757 00:41:18,400 --> 00:41:23,040 got back into it and the first few deals that I did, I 758 00:41:23,040 --> 00:41:25,600 struggled and I had a lot of problems and I was really, 759 00:41:25,840 --> 00:41:27,320 really down and I almost gave up. 760 00:41:27,680 --> 00:41:32,040 And my, my wife, we were like very recently married. 761 00:41:32,920 --> 00:41:37,720 She said, she's like, you know, shake it off, get back up and 762 00:41:37,720 --> 00:41:41,200 go, go find your place. And I was like, no, you know, 763 00:41:41,440 --> 00:41:44,000 I'm just going to go, I'm going to get a job somewhere and, and, 764 00:41:44,080 --> 00:41:47,080 and not be an entrepreneur anymore. 765 00:41:47,640 --> 00:41:51,880 And, and she said, look, if you do that, I don't think this is 766 00:41:51,880 --> 00:41:53,800 going to, we're going to do, we're going to last. 767 00:41:54,240 --> 00:41:57,000 And I said, why? She said, well, you're going to 768 00:41:57,000 --> 00:42:00,320 drive me crazy because you have to be an entrepreneur. 769 00:42:00,320 --> 00:42:03,520 You're never, you're never going to be like, you know, inside an 770 00:42:03,520 --> 00:42:06,280 organization and like be a good employee. 771 00:42:06,280 --> 00:42:08,400 You're going to be a pain in my ass. 772 00:42:08,640 --> 00:42:11,880 So please go out there and go build a piece of real estate or 773 00:42:11,880 --> 00:42:15,880 go do something, but go, go, go get back up and do it. 774 00:42:15,880 --> 00:42:19,160 And and she was doing it a little bit to like, you know, 775 00:42:19,240 --> 00:42:21,560 protect her own self from me being, you know, around the 776 00:42:21,560 --> 00:42:24,720 house too much. But it was interesting that she 777 00:42:24,720 --> 00:42:28,840 knew me, you know, and, and was really like, she actually 778 00:42:28,840 --> 00:42:32,160 believed in me, but she also was pushing me harder than I was 779 00:42:32,160 --> 00:42:34,440 pushing myself, which didn't happen a lot. 780 00:42:34,440 --> 00:42:37,200 But in a moment of vulnerability when I was down and like 781 00:42:37,200 --> 00:42:40,480 psychologically I was vulnerable, she was like, no, 782 00:42:40,560 --> 00:42:42,040 we're doing this. Get back up. 783 00:42:42,040 --> 00:42:45,080 And just like, you know, in your corner in a boxing match and 784 00:42:45,080 --> 00:42:47,400 you're kind of getting, you know, punched around and she's 785 00:42:47,400 --> 00:42:49,120 like, no, get back in there and go fight. 786 00:42:49,120 --> 00:42:52,960 And, and so I do think that that in, in in a relationship, you 787 00:42:52,960 --> 00:42:57,120 have to have a person that that sees you even in your most 788 00:42:57,120 --> 00:43:00,720 vulnerable state and, and compels you to, to keep going. 789 00:43:01,040 --> 00:43:03,960 She knew you deeply. And we, we had only been dating 790 00:43:03,960 --> 00:43:05,640 for a couple of years before we got married. 791 00:43:05,680 --> 00:43:08,680 And so, yeah, she did kind of know my essence quickly. 792 00:43:09,520 --> 00:43:11,680 I think it's also, it's very funny you asked that question 793 00:43:11,680 --> 00:43:13,840 because I was telling you earlier, I was at a Bachelorette 794 00:43:13,840 --> 00:43:17,840 this weekend and it was 10 HBS girls and we actually were 795 00:43:17,840 --> 00:43:19,720 talking about this. We were doing a little bit of 796 00:43:19,720 --> 00:43:23,000 like not accounting, but we were like talking through all of our 797 00:43:23,000 --> 00:43:27,320 friends were like actually a good number of our friends are 798 00:43:27,320 --> 00:43:30,760 the breadwinners within their family unit. 799 00:43:31,320 --> 00:43:33,920 And it's a lot of people are like, you know, I didn't think 800 00:43:33,920 --> 00:43:35,160 it was going to turn out this way. 801 00:43:35,480 --> 00:43:38,240 And it's not like my husband is not, you know, or my partner is 802 00:43:38,240 --> 00:43:41,800 not incredibly talented or like successful and done right, but 803 00:43:42,600 --> 00:43:46,800 they're the the breadwinners and they are receiving a lot of 804 00:43:46,840 --> 00:43:51,400 support from their partners. And one of my girlfriends was 805 00:43:51,400 --> 00:43:53,360 like, you know, I thought it was. 806 00:43:54,400 --> 00:43:56,720 And she's like, I always thought it was so important to have a 807 00:43:56,720 --> 00:43:59,240 partner who was, you know, the same sort of credentials, like 808 00:43:59,480 --> 00:44:03,240 Ivy League undergrad, you know, MBA, like all this stuff. 809 00:44:03,240 --> 00:44:06,800 And she's like, I actually realized that that wasn't what 810 00:44:06,800 --> 00:44:09,880 was most important to me. It was like having someone who 811 00:44:10,160 --> 00:44:12,800 loves me and understands me deeply and we support each 812 00:44:12,800 --> 00:44:14,720 other. And so I think that's. 813 00:44:15,520 --> 00:44:16,280 I don't know. Yeah. 814 00:44:16,280 --> 00:44:18,040 That's massive. I mean, I think that's that's a 815 00:44:18,040 --> 00:44:21,480 big chunk of it. I think, you know, there's, in 816 00:44:21,480 --> 00:44:26,320 my case in particular, my, my wife really was able to interact 817 00:44:26,320 --> 00:44:29,800 with my family too. And that was super important for 818 00:44:29,800 --> 00:44:34,040 me because they were so foundational as a part of my 819 00:44:34,040 --> 00:44:35,840 life. And so that was an important 820 00:44:35,840 --> 00:44:38,560 thing. And she she took it on as a as 821 00:44:38,600 --> 00:44:42,120 as part of her identity And and that was, you know, super 822 00:44:42,120 --> 00:44:43,920 important to me. So yeah, I mean, I think, I 823 00:44:43,920 --> 00:44:47,200 think the supportive element has to be there. 824 00:44:47,240 --> 00:44:51,520 You cannot both, you know, move forward without a supportive 825 00:44:51,520 --> 00:44:55,080 element. Money, power and love. 826 00:44:55,200 --> 00:44:58,120 Yeah, there we go. Hit them all the trifecta. 827 00:44:58,120 --> 00:45:00,640 Thank you for bringing us back to, you know, we almost forgot 828 00:45:00,640 --> 00:45:03,520 for a second. Thank you for bringing us back 829 00:45:03,520 --> 00:45:05,520 to love. Yeah, I never thought I'd be 830 00:45:05,680 --> 00:45:08,120 talking about love. Never. 831 00:45:08,360 --> 00:45:10,320 I have never gone down this rabbit hole. 832 00:45:10,320 --> 00:45:13,320 But but it yeah, it's good. It's a little cathartic. 833 00:45:13,320 --> 00:45:17,160 Yeah, and it's also mixing the hard with the soft as a holistic 834 00:45:17,160 --> 00:45:18,720 person. It's the spice of life. 835 00:45:19,160 --> 00:45:21,320 It is of life, the juice of life. 836 00:45:22,880 --> 00:45:26,360 OK, so we have a section called Rapid Fire where we're going to 837 00:45:26,360 --> 00:45:29,120 hear your hottest takes if things are overrated or 838 00:45:29,120 --> 00:45:31,680 underrated. And yeah, this is going to be 839 00:45:31,680 --> 00:45:34,800 super fast and really fun. So those are the 2 answers 840 00:45:34,800 --> 00:45:37,000 overrated or underrated? Well, they kind of depend for 841 00:45:37,000 --> 00:45:39,280 each one, but. It's so that's the concept. 842 00:45:39,280 --> 00:45:41,880 But yeah, you can start, Yeah, you kind of start with that and 843 00:45:41,880 --> 00:45:43,440 then explain. Yes. 844 00:45:43,440 --> 00:45:44,080 All right. Explainer. 845 00:45:44,080 --> 00:45:45,760 Behind that, yeah, OK. I like this. 846 00:45:46,160 --> 00:45:48,280 Yeah. OK. 847 00:45:48,280 --> 00:45:53,440 First one, Fernando. OK, Mark Cuban business genius 848 00:45:53,440 --> 00:45:55,880 or overrated TV billionaires? Oh, man. 849 00:45:59,600 --> 00:46:01,360 OK, look, let's talk about the facts. 850 00:46:01,360 --> 00:46:07,000 Yeah, broadcast.com was sold to Yahoo and Yahoo wrote down the 851 00:46:07,000 --> 00:46:10,080 value of broadcast.com to 0 within about a year or a year 852 00:46:10,080 --> 00:46:13,040 and a half. So that wasn't a good one. 853 00:46:13,920 --> 00:46:17,640 You know, the, the idea of, I don't know, I, I, I don't know 854 00:46:17,640 --> 00:46:19,600 what kind of investments are done on Shark Tank, but it seems 855 00:46:19,600 --> 00:46:23,000 to me that they're mainly consumer products and, and, and 856 00:46:23,000 --> 00:46:26,040 not extremely scalable businesses. 857 00:46:26,040 --> 00:46:29,560 And so maybe, maybe I, I would take the under on that. 858 00:46:31,640 --> 00:46:32,680 I like that. I like that. 859 00:46:33,720 --> 00:46:37,600 OK, so Harvard, you went to Harvard for undergrad? 860 00:46:37,840 --> 00:46:41,320 Is it responsible for success or just a nice flex? 861 00:46:41,320 --> 00:46:45,160 Are elite schools stepping stones or status signals? 862 00:46:46,280 --> 00:46:50,280 Oh yeah, this one's going to be a little controversial, but I 863 00:46:50,280 --> 00:46:57,360 actually think that the idea of a flex and A and a name that 864 00:46:57,360 --> 00:47:02,680 comes with your background may often blind you to blind spots 865 00:47:02,680 --> 00:47:05,960 that are, that are painful lessons later. 866 00:47:05,960 --> 00:47:10,440 So you have to be really careful with letting that take up too 867 00:47:10,440 --> 00:47:12,600 much of your identity. And and so you got to, you got 868 00:47:12,600 --> 00:47:15,720 to manage it. I don't think, I think, you 869 00:47:15,720 --> 00:47:20,080 know, some harm can be done from embracing brand identities like 870 00:47:20,080 --> 00:47:21,160 that. Brands are information 871 00:47:21,160 --> 00:47:23,520 shortcuts, right? And Harvard is an information 872 00:47:23,520 --> 00:47:26,840 shortcut just like any other. It's like Apple and, and every, 873 00:47:26,840 --> 00:47:31,680 every brand out there. So do you, do you, you know, 874 00:47:31,680 --> 00:47:33,800 fall into it? Do you embrace it fully? 875 00:47:33,960 --> 00:47:36,160 And then what, what kind of implications does that have for 876 00:47:36,160 --> 00:47:39,280 your scrappiness and your resolve and going forward? 877 00:47:39,280 --> 00:47:40,760 Does it slow you down a little bit? 878 00:47:41,480 --> 00:47:44,520 I love that phrase. It's information shortcut 879 00:47:44,920 --> 00:47:46,640 because we actually do use it that way. 880 00:47:46,640 --> 00:47:50,000 We've talked about this a lot where sometimes we feel like 881 00:47:50,000 --> 00:47:51,800 it's very cringe that we're also there. 882 00:47:51,800 --> 00:47:54,560 We're always like, oh, Harvard and Stanford, like blah, blah, 883 00:47:54,560 --> 00:47:56,120 blah. And we sometimes we're like, oh, 884 00:47:56,120 --> 00:47:58,120 do we over rely on that? But it's an information 885 00:47:58,120 --> 00:48:00,000 shortcut. It's basically just a way for us 886 00:48:00,000 --> 00:48:03,320 to be like, hey, like we're not just talking out of our asses. 887 00:48:03,320 --> 00:48:05,480 We're actually, yeah, legitimate. 888 00:48:05,520 --> 00:48:08,160 And This is why you should, you know, tune into what we have. 889 00:48:08,160 --> 00:48:10,480 To say, you know, my, one of the reasons my, my daughter asked me 890 00:48:10,480 --> 00:48:12,840 like is it important dad to get into a good school? 891 00:48:12,840 --> 00:48:15,840 And I said, look, it's important in so much as it shows the 892 00:48:15,840 --> 00:48:19,000 discipline of you trying to achieve something and getting it 893 00:48:19,000 --> 00:48:20,960 done. So I think that's important. 894 00:48:21,920 --> 00:48:24,800 And so you, you don't want to be passive and you want to pursue 895 00:48:25,040 --> 00:48:27,200 your dreams. And if some of that is a great 896 00:48:27,200 --> 00:48:30,280 university, then go for it. No, no, no judgement. 897 00:48:30,280 --> 00:48:33,560 But but, but then, you know, once you're out there fighting, 898 00:48:34,080 --> 00:48:37,320 like did Mr. Pullman really care about my Harvard degree? 899 00:48:37,320 --> 00:48:39,520 Probably not. Like he was like, Hey, can you 900 00:48:39,520 --> 00:48:42,400 get it done or not? And so ultimately it's got to be 901 00:48:43,360 --> 00:48:46,000 you got to execute. And, and so, you know, if that's 902 00:48:46,000 --> 00:48:49,600 a crutch, does it slow you down? That's just a it's a question 903 00:48:49,880 --> 00:48:51,880 and, and, and I pose it for for everybody to. 904 00:48:51,880 --> 00:48:53,720 Be for reflection for. Deflection, yeah. 905 00:48:54,360 --> 00:48:57,520 Crypto. Is it a legitimate long term 906 00:48:57,520 --> 00:48:59,280 play or glorified casino? Oh. 907 00:48:59,760 --> 00:49:03,880 Man, you got me. That is so fun. 908 00:49:03,880 --> 00:49:07,760 That's a tough one. You're, you're, you've been like 909 00:49:07,760 --> 00:49:09,880 hacking my emails or something, 'cause I'm serious. 910 00:49:10,080 --> 00:49:15,520 OK, so let's see, let's see. Number one is I used to see in 911 00:49:15,560 --> 00:49:18,800 other countries and I grew up around, you know, straddling two 912 00:49:18,800 --> 00:49:21,880 different countries. And so in Mexico you would see 913 00:49:21,880 --> 00:49:25,240 currency devaluations every time a president left. 914 00:49:25,680 --> 00:49:31,560 So you would see like the the treasury rated reserves decrease 915 00:49:31,560 --> 00:49:35,240 and therefore the currency of of the country suffering value. 916 00:49:35,640 --> 00:49:40,240 Crypto is a great way to store wealth against that kind of 917 00:49:40,240 --> 00:49:41,960 thing. So in the United States, not so 918 00:49:41,960 --> 00:49:43,840 much because you know, the dollar is a reserve currency, 919 00:49:43,840 --> 00:49:46,880 but if you live in Angola, if you live in Africa, in certain 920 00:49:46,880 --> 00:49:49,400 African countries, in certain parts of Latin America where you 921 00:49:49,400 --> 00:49:52,520 have hyperinflation and dysfunctional governments, would 922 00:49:52,520 --> 00:49:55,080 you want to have crypto? And I think, I think I would 923 00:49:55,080 --> 00:49:59,440 lean towards, yes, I believe in crypto. 924 00:49:59,440 --> 00:50:03,680 There is a lot of regulatory framework that is immature and 925 00:50:03,680 --> 00:50:06,920 needs to be built. I think there are, for obvious 926 00:50:06,920 --> 00:50:13,960 reasons, elements of crypto that are shady and difficult to 927 00:50:13,960 --> 00:50:15,920 navigate. And so I think you got to be 928 00:50:15,920 --> 00:50:19,280 careful. I've invested in crypto and I 929 00:50:19,280 --> 00:50:22,320 did very well, but I would say that there was very little 930 00:50:22,320 --> 00:50:25,280 fundamentals around it. I think, you know, I got lucky 931 00:50:25,280 --> 00:50:27,840 and, and I took my wins and, and ran with it. 932 00:50:27,840 --> 00:50:31,400 But, but I don't, I don't, I wouldn't know how to invest in 933 00:50:31,400 --> 00:50:34,720 it at a fundamental level. I think it would, it would be 934 00:50:34,720 --> 00:50:37,840 difficult for me to do that. I wouldn't go as far as would in 935 00:50:37,840 --> 00:50:41,320 a Charlie Munger set, which was that it was, you know, dog shit. 936 00:50:41,320 --> 00:50:45,960 But but it but it but it you know, but I think there is a use 937 00:50:45,960 --> 00:50:49,320 for it in certain, you know, contexts, but I think you have 938 00:50:49,320 --> 00:50:51,040 to tread very, very lightly on crypto. 939 00:50:51,040 --> 00:50:54,400 OK. So crypto better than dog shit 940 00:50:54,920 --> 00:50:56,720 according to Fernando. You've heard it here now. 941 00:50:56,760 --> 00:50:58,440 That's what Munger said. I think I wouldn't go. 942 00:50:58,440 --> 00:51:00,160 All the way over there. I wouldn't put that as a 943 00:51:00,160 --> 00:51:03,920 headline. But yeah, those guys were old 944 00:51:03,920 --> 00:51:07,240 school or our old school. But but I think there is a place 945 00:51:07,240 --> 00:51:09,680 for it in some contexts. I think if you went to, I mean, 946 00:51:09,720 --> 00:51:12,960 if you see the devaluations that happen in some countries, there 947 00:51:12,960 --> 00:51:17,240 are people in Nigeria, I think I have a friend that runs a, a, a 948 00:51:17,920 --> 00:51:22,080 crypto exchange company and he says many of the customers are 949 00:51:22,080 --> 00:51:26,960 Latin America, Africa, Asia. So you find those people have, 950 00:51:27,040 --> 00:51:31,040 you know, derive value from buying those stores of wealth. 951 00:51:31,360 --> 00:51:34,320 And so if they're deriving value, then who are we to, to 952 00:51:34,320 --> 00:51:37,400 say that, that, that, that there's something wrong with it? 953 00:51:37,400 --> 00:51:39,000 So that wouldn't go as far as Charlie did. 954 00:51:39,440 --> 00:51:42,600 That's a very practical. It's a very, very practical, 955 00:51:42,880 --> 00:51:44,240 very like. International. 956 00:51:44,240 --> 00:51:46,360 Capitalism, very International, very. 957 00:51:46,600 --> 00:51:48,280 Yeah. I could imagine it's it'd be 958 00:51:48,280 --> 00:51:50,560 really useful for like remittances too now that I think 959 00:51:50,560 --> 00:51:52,560 about it. Yeah, I think it has been been 960 00:51:52,560 --> 00:51:54,680 used in remittances good and bad, right? 961 00:51:54,960 --> 00:51:58,000 That's the catch. And so like in in many topics 962 00:51:58,000 --> 00:52:01,320 like this, it's not black or white and and it is a whole 963 00:52:01,320 --> 00:52:05,280 bunch of Gray and crypto and we'll see, we'll see where how 964 00:52:05,280 --> 00:52:07,720 it evolves for sure. It's not going anywhere. 965 00:52:07,720 --> 00:52:09,680 I don't think. I think if you thought, if you 966 00:52:09,680 --> 00:52:12,280 thought crypto was dead, you know, two or three years ago 967 00:52:12,280 --> 00:52:15,920 whenever we had that bubble burst, I don't think that that's 968 00:52:15,920 --> 00:52:19,640 the case right now. Fernando, thank you so much for 969 00:52:19,640 --> 00:52:24,040 being here with us and giving us the real talk on money, power 970 00:52:24,040 --> 00:52:26,760 and love. And we always say we want to be 971 00:52:26,760 --> 00:52:31,400 the Internet's Big Sisters and career mentors and that we wish 972 00:52:31,400 --> 00:52:33,200 we had. And that's really what we got 973 00:52:33,200 --> 00:52:35,560 with you today. So thank you for being here and 974 00:52:35,560 --> 00:52:38,800 for being, you know, the Internet Big Brother like kind 975 00:52:38,800 --> 00:52:41,200 of family that we've built together with Tiger's sister. 976 00:52:41,200 --> 00:52:42,080 I love it. I love it. 977 00:52:42,080 --> 00:52:44,800 I'm happy to. I'm happy to have been a guest 978 00:52:44,840 --> 00:52:48,280 because I think you guys are disseminating and proselytizing 979 00:52:49,040 --> 00:52:51,120 great ideas that that people can benefit from. 980 00:52:51,480 --> 00:52:54,640 So if you got value from this conversation, if it made you 981 00:52:54,640 --> 00:52:58,280 laugh or kind of like think deeply or question what you've 982 00:52:58,280 --> 00:53:02,240 been taught, take a second to follow, like and subscribe. 983 00:53:02,280 --> 00:53:07,000 And please rate US five stars on Spotify and Apple Podcasts and 984 00:53:07,000 --> 00:53:09,320 also send this to a friend who would enjoy it. 985 00:53:09,560 --> 00:53:12,240 We'll see you next time on Tiger Sisters. 986 00:53:12,600 --> 00:53:14,360 Bye.