WEBVTT NOTE This file was generated by Descript 00:00:00.049 --> 00:00:00.890 Bobby Hoyt: hey, what's up? 00:00:00.949 --> 00:00:02.329 This is Bobby Hoyt from Millennial Money Man. 00:00:02.750 --> 00:00:07.310 I am doing a podcast for the first time for this brand, and it's been something 00:00:07.310 --> 00:00:08.719 that I've wanted to do for a long time. 00:00:09.019 --> 00:00:13.130 However, it's not, I never wanna do a super boring kind of interview podcast. 00:00:13.160 --> 00:00:14.540 That's why I've avoided doing it. 00:00:14.545 --> 00:00:17.245 And I've told the audience that I was gonna do it many, many times over 00:00:17.245 --> 00:00:18.625 the years, and I had never did it. 00:00:18.685 --> 00:00:18.985 So. 00:00:19.645 --> 00:00:20.455 Here we are. 00:00:20.735 --> 00:00:25.595 And I've got some wonderful people with me that are gonna be doing this podcast with 00:00:25.595 --> 00:00:28.025 me, and it's mostly because I made them. 00:00:28.385 --> 00:00:28.775 Michael Shuman: Thanks, dad. 00:00:29.405 --> 00:00:31.955 Bobby Hoyt: Yeah, because, you know, I just kind of feel, feel like if 00:00:31.955 --> 00:00:34.655 they're employees and you say, do this, like sometimes they can't say no. 00:00:34.685 --> 00:00:36.965 So they're here, they're gonna do the podcast with me. 00:00:37.175 --> 00:00:42.335 I've got Ariel, I've got michael, and basically a lot of stuff has changed with 00:00:42.335 --> 00:00:44.075 the brand over the last several years. 00:00:44.075 --> 00:00:45.575 If you have been following for many years. 00:00:45.575 --> 00:00:48.905 It was just me kind of writing stuff randomly about personal finance. 00:00:49.155 --> 00:00:50.715 Over the years I've really felt like. 00:00:51.060 --> 00:00:54.150 Making more money is probably the most important thing you can do is, you 00:00:54.150 --> 00:00:55.620 know, in your personal finance journey. 00:00:55.740 --> 00:00:57.036 And so we've changed it a lot. 00:00:57.065 --> 00:00:59.285 We brought in Michael, we, Ariel's been with me forever. 00:00:59.495 --> 00:01:01.595 Uh, but we've really changed a lot of the site and how it works. 00:01:01.595 --> 00:01:03.335 And now we're really a make money brand. 00:01:03.665 --> 00:01:04.355 That's what we focus on. 00:01:04.355 --> 00:01:06.465 We help people make more money, in a lot of different ways. 00:01:06.465 --> 00:01:09.020 Side hustles, investing, freelancing online business, and. 00:01:09.780 --> 00:01:10.740 That's kind of what we do now. 00:01:10.770 --> 00:01:13.830 So I don't know if Michael told me I had to do an intro, so I 00:01:13.830 --> 00:01:15.840 don't know exactly what else I'm supposed to be talking about. 00:01:16.230 --> 00:01:20.220 However, I will say that this podcast is called Questionable Decisions, 00:01:20.220 --> 00:01:23.820 and the reason that we started this podcast is because Michael bought 00:01:23.820 --> 00:01:27.510 a $200 pepper grinder and we made fun of him a lot for it at least. 00:01:27.630 --> 00:01:27.780 Yes. 00:01:27.840 --> 00:01:29.130 I think that's why we started it. 00:01:29.350 --> 00:01:31.110 I'm not actually sure it was Ariel's idea, 00:01:31.120 --> 00:01:33.160 Ariel Gardner: It's exactly why we started this podcast. 00:01:33.525 --> 00:01:33.820 Yes. 00:01:33.910 --> 00:01:34.990 Bobby Hoyt: So we're gonna be talking about questionable 00:01:34.990 --> 00:01:36.730 financial decisions and that's it. 00:01:36.790 --> 00:01:37.360 Michael, how did. 00:01:37.885 --> 00:01:38.185 . Michael Shuman: Great. 00:01:38.605 --> 00:01:38.935 Bobby Hoyt: Thank you. 00:01:49.871 --> 00:01:50.141 okay, 00:01:50.141 --> 00:01:53.291 so here's what we're starting with, right? 00:01:53.291 --> 00:01:55.376 This is kind of like a very important topic, right? 00:01:56.271 --> 00:02:00.471 In this country, the power ball, which I honestly, I didn't, I don't know 00:02:00.471 --> 00:02:01.671 if anybody else did the power ball. 00:02:01.761 --> 00:02:04.251 Like I don't know if you guys get tickets for that or not. 00:02:04.551 --> 00:02:08.751 Uh, I did not do it, and I've probably done it maybe once or twice in my life. 00:02:08.971 --> 00:02:12.891 , but it seems like the number just keeps getting like way, way higher. 00:02:13.081 --> 00:02:15.691 And so recently 1.9 billion. 00:02:16.786 --> 00:02:18.796 Everybody probably has thought about like what they would do 00:02:18.796 --> 00:02:21.836 with it, but we're gonna start with an article, that's on cnbc. 00:02:21.836 --> 00:02:25.136 Make it that is about basically what would you do with it. 00:02:25.141 --> 00:02:28.656 But it's Mark Cuban and Kevin Ale's take, and if you don't know who they 00:02:28.656 --> 00:02:29.796 are, you should watch Shark Tank. 00:02:29.946 --> 00:02:30.576 It's pretty dope. 00:02:31.346 --> 00:02:32.666 Here's what Mark Cuban says. 00:02:33.146 --> 00:02:36.836 He thinks that if you were gonna get all of that money, you should keep most 00:02:36.836 --> 00:02:40.136 of it in the bank rather than risking it on investments that might not pay 00:02:40.136 --> 00:02:43.616 off because you don't become a smart investor when you win the lottery. 00:02:43.716 --> 00:02:47.596 I don't know if that's true or not, but I think you get so 1.9 billion. 00:02:47.626 --> 00:02:48.771 How much do you think you get on that? 00:02:48.802 --> 00:02:52.162 Michael Shuman: It was like less than half, maybe 600 million or something. 00:02:52.292 --> 00:02:55.082 , Bobby Hoyt: yeah, so some kind of CNBC says 934.8. 00:02:55.082 --> 00:02:55.622 It's 900. 00:02:55.622 --> 00:02:56.222 It's a ton of money. 00:02:56.622 --> 00:02:59.952 But he thinks that you should just offset inflation and put it 00:02:59.957 --> 00:03:03.192 into a low cost s and p 500 index fund and let it grow long term. 00:03:03.732 --> 00:03:05.022 He basically likes index funds. 00:03:05.022 --> 00:03:08.712 Here's what Kevin O'Leary, who I like more if I'm gonna be totally honest here. 00:03:09.072 --> 00:03:11.622 He says, take the lump sum, do not spend it. 00:03:11.922 --> 00:03:15.882 Pay yourself an annuity and put the excess cash flow to work for you. 00:03:16.152 --> 00:03:18.522 More money up front means more to invest and grow. 00:03:18.612 --> 00:03:21.762 So he thinks you should just start investing even if, even if you're dumb. 00:03:22.092 --> 00:03:23.412 You know, just get in there. 00:03:23.652 --> 00:03:27.582 And then he said,, to grow it, put it in low volatility, dividend paying stocks 00:03:27.912 --> 00:03:32.382 and the lump sum, you get less than the annuity, but you're gonna be able to take 00:03:32.382 --> 00:03:34.122 advantage of compound interest right away. 00:03:34.512 --> 00:03:37.122 They both agree that you should not spend a lot of money, which I think. 00:03:37.902 --> 00:03:38.772 A terrible take. 00:03:38.772 --> 00:03:40.392 I think you should spend a ton of money very quickly. 00:03:40.392 --> 00:03:40.452 Yeah, 00:03:40.452 --> 00:03:40.722 Michael Shuman: sure. 00:03:40.752 --> 00:03:41.892 You just make 600 million. 00:03:42.522 --> 00:03:44.142 , so let's just start with some of those figures. 00:03:44.802 --> 00:03:49.002 The take home of it is roughly just under a billion, that 00:03:49.002 --> 00:03:50.892 you're gonna be taxed at 37%. 00:03:50.892 --> 00:03:54.642 So you're, you're coming home with like, let's call it 600 million, right? 00:03:54.642 --> 00:03:56.382 That's what's gonna, if you take the lump sum. 00:03:56.652 --> 00:03:57.822 First off, do we all agree lump. 00:03:59.217 --> 00:03:59.937 I think you have to. 00:03:59.937 --> 00:04:00.447 I'm not waiting for that. 00:04:00.447 --> 00:04:01.017 Absolutely. 00:04:01.117 --> 00:04:05.167 So you take the lump sum, you get taxed on it. 00:04:05.517 --> 00:04:10.720 I actually would like to start with the fact that none of us, none of you, no 00:04:10.720 --> 00:04:12.370 one should ever be playing the power ball 00:04:13.300 --> 00:04:18.940 I think your odds of winning are like one in 300 million and there's like 300 00:04:18.940 --> 00:04:20.760 and some odd million people in America. 00:04:21.563 --> 00:04:23.753 I always think about it like if you've ever flown on an airplane, you look 00:04:23.753 --> 00:04:27.927 down, you see like the thousands and thousands of houses, it's like one 00:04:27.927 --> 00:04:29.727 person in one of those houses could win. 00:04:29.967 --> 00:04:34.742 So obviously not a sound financial strategy, but if you wanna do it for 00:04:34.742 --> 00:04:38.372 fun, please don't stake your life, on the results of the power ball. 00:04:38.937 --> 00:04:42.287 . But, I think I agree that, you're never gonna out invest,, 00:04:42.387 --> 00:04:44.307 an index like the s and p 500. 00:04:44.717 --> 00:04:47.717 I probably would put a lot of it there to let it grow steadily. 00:04:48.177 --> 00:04:51.747 But you want to have fun and you want to like, invest in things you 00:04:51.747 --> 00:04:53.397 believe in or that interest you. 00:04:53.907 --> 00:04:56.607 I'm sure everybody thinks this, but I kind of think I would 00:04:56.607 --> 00:04:58.047 sort of know what to do with it. 00:04:58.047 --> 00:05:00.417 You'd let a lot of it sit there, you'd spend some of it 00:05:00.417 --> 00:05:01.407 and you'd invest some of it. 00:05:01.934 --> 00:05:06.007 But I've also never won 600 million, so I don't know 00:05:06.236 --> 00:05:09.176 Ariel Gardner: wanna go back to your point about why you shouldn't 00:05:09.176 --> 00:05:12.113 play the power ball, because I just looked it up and you have a higher 00:05:12.283 --> 00:05:18.293 chance of dying from lightning strike than winning Powerball I mean, I 00:05:18.293 --> 00:05:19.493 Bobby Hoyt: Don't if totally off on that. 00:05:19.613 --> 00:05:21.203 You should play it every once in a while. 00:05:21.203 --> 00:05:23.533 I think when it gets to like 1.9 billion, like just, it's for, 00:05:23.633 --> 00:05:24.053 Michael Shuman: for fun. 00:05:24.083 --> 00:05:27.223 Here's, you know, I've always thought this . They say you should play when 00:05:27.228 --> 00:05:32.113 it's high as though winning 50 million would be less impactful or exciting 00:05:32.113 --> 00:05:33.163 and there's less people playing. 00:05:33.168 --> 00:05:35.503 At that point, I feel like you're gonna play the power ball. 00:05:35.503 --> 00:05:36.583 You play it when it's love. 00:05:36.588 --> 00:05:37.603 No, no, no, no, 00:05:37.933 --> 00:05:38.893 Bobby Hoyt: no that's not as much fun. 00:05:38.893 --> 00:05:39.283 That's boring. 00:05:39.343 --> 00:05:40.393 Like you wanna be part of it. 00:05:40.398 --> 00:05:41.263 You wanna be part of it. 00:05:41.503 --> 00:05:43.663 And do we, do we need to say that this is not financial? 00:05:44.368 --> 00:05:46.618 Is anybody gonna say that before we actually get into the podcast? 00:05:46.623 --> 00:05:48.248 This is not financial advice. 00:05:48.248 --> 00:05:48.648 Yeah. 00:05:48.653 --> 00:05:51.658 Like Michael just gave some non-financial, financial advice. 00:05:51.748 --> 00:05:52.798 Nothing that we say here. 00:05:52.798 --> 00:05:55.438 Please don't do anything that we say at all 00:05:56.128 --> 00:05:56.518 Ariel Gardner: ever. 00:05:57.598 --> 00:05:59.908 Unless it's play the power ball when it's low versus when 00:05:59.913 --> 00:06:00.388 Bobby Hoyt: it's high. 00:06:00.448 --> 00:06:01.828 You have to play it when it's high. 00:06:01.918 --> 00:06:03.268 And I think that it's not even a question. 00:06:03.268 --> 00:06:07.378 And I think, I think what you said Michael is like extremely reserved. 00:06:07.378 --> 00:06:09.778 I thought you were gonna say something wild that was, uh, that 00:06:09.778 --> 00:06:11.008 was way different than what I was. 00:06:12.238 --> 00:06:13.018 I'm getting body guards. 00:06:13.238 --> 00:06:13.978 That's the first thing I'm doing. 00:06:14.518 --> 00:06:14.818 Body 00:06:14.818 --> 00:06:15.208 Ariel Gardner: guards. 00:06:15.208 --> 00:06:19.288 Do you have like people in your life that you feel who would be a threat to you? 00:06:19.588 --> 00:06:21.538 Bobby Hoyt: I don't, but I would find 'em really quickly 00:06:21.543 --> 00:06:23.488 if I, if I won 600, 700 million. 00:06:23.938 --> 00:06:24.118 Like 00:06:24.118 --> 00:06:26.114 Michael Shuman: they come out in your high school yearbook, you'll, you'll see 00:06:26.119 --> 00:06:27.404 all the people who are gonna be coming 00:06:27.404 --> 00:06:27.464 Bobby Hoyt: out. 00:06:27.469 --> 00:06:28.729 I think I've thought about this. 00:06:28.729 --> 00:06:31.219 I think what you do, you get, you get some kind of, you get 00:06:31.219 --> 00:06:33.139 security, maybe two of 'em. 00:06:33.139 --> 00:06:35.449 One during the day and one at night, or one that lives with you. 00:06:35.479 --> 00:06:36.079 Not really sure. 00:06:36.409 --> 00:06:37.459 I think you, you gotta. 00:06:38.719 --> 00:06:40.159 Like you gotta move quickly. 00:06:40.339 --> 00:06:42.529 You gotta set up an ce, you gotta buy the house and the lc. 00:06:42.949 --> 00:06:44.839 You gotta get something with security cameras. 00:06:44.839 --> 00:06:47.059 Like my paranoia would go off the charts. 00:06:47.059 --> 00:06:47.540 Are you like 00:06:47.545 --> 00:06:49.939 Michael Shuman: keeping this in cash, like with you at all times? 00:06:49.939 --> 00:06:51.619 Why do you need the security? 00:06:52.039 --> 00:06:55.819 But no, it's just because hostage or Yeah, they might ask for, 00:06:56.609 --> 00:06:58.999 Bobby Hoyt: yeah, this is real, real stuff. 00:06:59.149 --> 00:07:01.579 So I think you gotta go kind of into hiding for a little bit. 00:07:02.734 --> 00:07:04.294 I think you gotta do some stuff like that. 00:07:04.534 --> 00:07:06.904 Michael Shuman: Here's the other thing, you don't have to, you 00:07:06.904 --> 00:07:08.104 don't have to reveal yourself. 00:07:08.404 --> 00:07:10.504 You can win the power ball and no one knows who you are. 00:07:10.564 --> 00:07:11.674 Bobby Hoyt: It depends on what state you're in. 00:07:11.674 --> 00:07:12.184 I think. 00:07:12.364 --> 00:07:15.034 I don't quote me on that, but I think depending on the state, they 00:07:15.039 --> 00:07:16.444 disclose it or they don't disclose it. 00:07:16.564 --> 00:07:17.044 I don't know. 00:07:17.104 --> 00:07:19.629 Somebody can fact check me on that, but I read that in something the other day. 00:07:20.279 --> 00:07:21.809 Michael Shuman: Well, let's assume that you're in a state where you 00:07:21.809 --> 00:07:23.219 don't have to be nalton, are you? 00:07:23.669 --> 00:07:24.449 Who are you telling. 00:07:25.514 --> 00:07:26.954 How close are you keeping it? 00:07:28.034 --> 00:07:29.144 Bobby Hoyt: I'm not even telling my wife. 00:07:29.234 --> 00:07:29.954 I'm not telling anybody. 00:07:30.014 --> 00:07:30.824 We're just moving. 00:07:30.884 --> 00:07:32.954 There's gonna be security that comes in and that's it. 00:07:32.954 --> 00:07:35.804 Like it's just people are gonna, things are guys gonna change and 00:07:35.809 --> 00:07:40.994 I'll tell her when the time feels right for her On safety, I feel like 00:07:40.994 --> 00:07:43.964 Ariel Gardner: I'm an overshare, like accidental overshare that I 00:07:43.964 --> 00:07:47.124 would just be like picking a kid up from school and accidentally 00:07:47.129 --> 00:07:49.154 say like, I won the 2 million Jack. 00:07:49.994 --> 00:07:51.554 You would like, like how's your week going? 00:07:51.554 --> 00:07:52.544 And then that would come 00:07:52.544 --> 00:07:52.844 Michael Shuman: out. 00:07:52.844 --> 00:07:53.984 So you would not last long. 00:07:53.984 --> 00:07:55.404 You'd be, you'd be shopping at al. 00:07:55.934 --> 00:08:01.244 Yes, I would talking to the, uh, less fortunate you. 00:08:01.244 --> 00:08:01.484 Yeah. 00:08:01.484 --> 00:08:02.234 Bobby Hoyt: You wouldn't make it long. 00:08:02.394 --> 00:08:04.544 Ariel Gardner: I would be passing my cart along though, you know, 00:08:04.544 --> 00:08:06.374 without asking for their 25 cents 00:08:06.374 --> 00:08:06.914 Michael Shuman: at that point. 00:08:06.974 --> 00:08:07.934 Oh, that's nice. 00:08:08.144 --> 00:08:08.294 Yeah. 00:08:08.294 --> 00:08:10.544 That's how you would, that's how you'd spread some good in the world. 00:08:10.574 --> 00:08:11.984 You'd leave your quarter in the cart. 00:08:11.989 --> 00:08:12.124 Mm-hmm. 00:08:12.614 --> 00:08:13.004 . Yeah, 00:08:13.244 --> 00:08:15.194 Bobby Hoyt: everybody always says like, get a, get an attorney. 00:08:15.194 --> 00:08:16.754 Which I, I, I agree with that part. 00:08:16.754 --> 00:08:17.444 Get an attorney. 00:08:17.714 --> 00:08:19.124 I think you, if you don't have, this is not legal. 00:08:19.744 --> 00:08:20.165 Michael Shuman: Get an 00:08:20.170 --> 00:08:20.534 Bobby Hoyt: accountant. 00:08:20.774 --> 00:08:20.834 Yeah. 00:08:20.839 --> 00:08:23.114 Nothing here is what you would don't, yeah. 00:08:23.114 --> 00:08:25.034 Don't go do this, but you could go do this. 00:08:25.574 --> 00:08:26.084 Um, 00:08:26.184 --> 00:08:28.704 Michael Shuman: it's some legal advice to hire an attorney. 00:08:28.709 --> 00:08:30.104 Like, can we at least, yeah. 00:08:30.454 --> 00:08:31.224 I think we could say 00:08:31.854 --> 00:08:32.004 Bobby Hoyt: yes. 00:08:32.739 --> 00:08:34.479 People say get a financial advisor. 00:08:34.479 --> 00:08:35.439 I don't agree with that. 00:08:35.439 --> 00:08:36.729 I think you don't do that right away. 00:08:36.729 --> 00:08:40.119 Because I think that there's a lot of financial advisors that like if you 00:08:40.119 --> 00:08:43.329 don't, if you are in a position where you have that much money and you don't 00:08:43.329 --> 00:08:46.359 know what to do with it at all, like giving it to somebody that you don't 00:08:46.359 --> 00:08:47.829 know very well is not a good idea. 00:08:47.949 --> 00:08:50.439 So I think you keep it in cash for a while. 00:08:50.649 --> 00:08:52.509 Like I think you just lay low. 00:08:53.079 --> 00:08:57.069 Don't die, don't get kidnapped for a long time until like everything 00:08:57.069 --> 00:08:58.629 kind of smooths over and. 00:08:59.589 --> 00:09:02.799 You go and buy like a mini horse or something like that in mansion. 00:09:03.609 --> 00:09:03.879 Ariel Gardner: Yeah. 00:09:03.879 --> 00:09:07.329 So if we're talking about buying mini horses and mansions and bodyguards, 00:09:07.329 --> 00:09:08.619 what else would you do with your money? 00:09:08.829 --> 00:09:13.479 Like, what else would you guys do with, you know, 600 million? 00:09:14.209 --> 00:09:15.379 Bobby Hoyt: I see. 00:09:15.379 --> 00:09:17.019 I'm like, , I might not even invest it. 00:09:17.019 --> 00:09:17.229 Right? 00:09:17.289 --> 00:09:19.209 Like, it's so much money. 00:09:19.299 --> 00:09:22.899 Like, unless you just start spending wild amounts of money, like you 00:09:22.899 --> 00:09:25.539 don't, even, even if inflation eats way at it, like you're not gonna run 00:09:25.539 --> 00:09:27.189 outta money if you just don't become. 00:09:28.299 --> 00:09:32.019 If you're not like Mike Tyson and you just start buying like every exotic 00:09:32.019 --> 00:09:37.269 animal, and I, I think that I would definitely buy a mansion for sure. 00:09:37.479 --> 00:09:37.569 Mm-hmm. 00:09:37.899 --> 00:09:42.879 , but, and I would buy, I would buy, at least I would buy two or three. 00:09:42.939 --> 00:09:44.199 I think real estate's a good play here. 00:09:44.199 --> 00:09:47.519 I think you buy two or three properties and then I think you. 00:09:49.194 --> 00:09:53.664 Maybe, maybe you put it in an index fund or something boring like that and, 00:09:53.664 --> 00:09:56.004 and I think you keep a lot of it cash. 00:09:56.094 --> 00:09:56.874 I would keep a ton of cash. 00:09:56.879 --> 00:09:57.254 Well, that's 00:09:57.254 --> 00:09:59.724 Michael Shuman: why, that's, again, I've never been in the position. 00:09:59.844 --> 00:10:05.964 Money makes people do crazy things, but to me it seems like if you just 00:10:05.964 --> 00:10:09.354 literally got the money, you took $600 million, you stuck it into money 00:10:09.354 --> 00:10:12.354 market account, you put it at Schwab, and you, you don't do anything. 00:10:12.354 --> 00:10:13.104 You don't invest it. 00:10:13.104 --> 00:10:14.889 You don't have to decide any of that over one. 00:10:16.049 --> 00:10:16.829 , it'll make you 10 million. 00:10:17.219 --> 00:10:19.409 Like you can just relax. 00:10:19.679 --> 00:10:20.289 Mm-hmm. 00:10:20.369 --> 00:10:24.029 . And if you want to, I think what's kind of cool about the idea of that is you could 00:10:25.409 --> 00:10:27.089 lean into the things that interest you. 00:10:27.299 --> 00:10:29.819 You know that real estate is something that's successful. 00:10:29.824 --> 00:10:33.479 You buy one house and you flip it, or you buy one apartment building 00:10:33.479 --> 00:10:34.680 and you, you kind of figure it out. 00:10:35.199 --> 00:10:39.189 In a sort of, I feel like it'd be fun to have that much money is what I feel like. 00:10:39.309 --> 00:10:39.699 Oh my gosh. 00:10:39.699 --> 00:10:40.479 I think so too. 00:10:40.479 --> 00:10:40.779 Yeah. 00:10:40.839 --> 00:10:44.229 I think people feel like they need to take 600 million and turn it into a billion. 00:10:44.229 --> 00:10:45.309 Like what if you didn't? 00:10:45.339 --> 00:10:49.599 What if you just sort of did things that interest you and, and you know, 00:10:49.599 --> 00:10:50.769 aligned with what you wanted to do? 00:10:51.009 --> 00:10:52.389 I feel like that's what I do. 00:10:52.389 --> 00:10:54.609 Would I buy a cool car and a, and a house. 00:10:54.959 --> 00:10:55.629 House, yeah. 00:10:55.629 --> 00:10:57.639 But would I buy a $10 million house? 00:10:58.039 --> 00:10:58.209 Probably not. 00:10:58.209 --> 00:11:02.769 I'd probably, I'd probably wanna start in kind of an incremental way, um, and. 00:11:03.639 --> 00:11:03.849 Well, I 00:11:04.419 --> 00:11:05.109 Bobby Hoyt: would go to your house, 00:11:07.119 --> 00:11:09.999 . Michael Shuman: We didn't both win 600 million I think. 00:11:10.149 --> 00:11:12.009 I think I'm gonna have a nicer house than you at that point. 00:11:12.399 --> 00:11:13.419 Yeah, that's probably true. 00:11:13.679 --> 00:11:14.009 Bobby Hoyt: All right. 00:11:14.009 --> 00:11:15.059 Yeah, I don't know. 00:11:15.059 --> 00:11:17.609 I mean, I, I just, I wouldn't spend a, I mean, I don't know. 00:11:17.609 --> 00:11:19.619 I would spend a lot, but I wouldn't invest a lot. 00:11:19.739 --> 00:11:21.839 I would maybe do some angel investing maybe. 00:11:22.349 --> 00:11:22.559 Yeah. 00:11:22.564 --> 00:11:23.999 I just, but I do think you're right Michael. 00:11:23.999 --> 00:11:26.529 I think it's like you do some stuff you're interested in, cuz I'm not trying 00:11:26.529 --> 00:11:32.724 to go and start like a, some kind of like hedge fund or real estate investing 00:11:32.724 --> 00:11:34.164 firm or something boring like that. 00:11:34.169 --> 00:11:35.304 Like you're rich as hell. 00:11:35.634 --> 00:11:36.984 Like just go be rich. 00:11:38.000 --> 00:11:38.450 So going 00:11:38.450 --> 00:11:41.450 Ariel Gardner: back to the, going back to like the initial prompt in 00:11:41.450 --> 00:11:46.010 terms of which is better, you know, who has got better advice there? 00:11:46.100 --> 00:11:49.430 So your advice is screw investing all together. 00:11:50.180 --> 00:11:53.560 Or, you know, don't make that your priority. 00:11:54.100 --> 00:11:56.680 Michael Shuman: Well make it your, it's, it's play money at the time. 00:11:56.680 --> 00:11:58.300 You have a, you have a sandbox to play in. 00:11:58.360 --> 00:12:01.330 I, that's what I've always thought is, you know, your money will make money 00:12:01.330 --> 00:12:04.630 for yourself if it literally sits well in a money market account, you know, at 00:12:04.630 --> 00:12:11.470 a 1.7% annual return, but even in the s and p 500, like that's a safe bet. 00:12:11.470 --> 00:12:13.400 You know, there's not many things that beat that over time. 00:12:14.810 --> 00:12:18.800 That is where , I'd likely want to put the, the bulk of just letting it 00:12:18.800 --> 00:12:20.930 sit there, make a little bit of money. 00:12:21.890 --> 00:12:25.700 But to Bobby's point, I think angel investing and picking things that 00:12:25.705 --> 00:12:28.640 interest you and things that, you know, ignite your, your passions, 00:12:29.000 --> 00:12:30.530 like you have fun money at that point. 00:12:30.535 --> 00:12:33.610 You don't need to turn it into $3 billion, if you don't want to. 00:12:33.615 --> 00:12:33.860 Mm-hmm. 00:12:34.030 --> 00:12:37.240 . And I think honestly, when you see the horror stories from people who win the 00:12:37.240 --> 00:12:40.960 lottery, it's because they go absolutely. 00:12:41.174 --> 00:12:41.954 Insane. 00:12:42.044 --> 00:12:45.904 They, , they go to Vegas, they buy the Lamborghini, they blow it up their nose. 00:12:45.904 --> 00:12:51.194 Like, it, it's, uh, it's not because they made it unsound investment decisions. 00:12:51.704 --> 00:12:53.384 Ariel Gardner: well, they invested their money in something. 00:12:53.384 --> 00:12:56.344 It was just not the right investment really. 00:12:56.384 --> 00:13:00.024 Bobby Hoyt: But even, even if you did that, so this says 930. 00:13:00.599 --> 00:13:01.469 Million dollars. 00:13:01.469 --> 00:13:05.189 Like you could go crazy for a long time and still not run outta money. 00:13:05.279 --> 00:13:06.449 Like you just have to do somebody. 00:13:06.629 --> 00:13:09.089 I think where a lot of people, they get screwed by somebody they trust 00:13:09.089 --> 00:13:11.519 that's like, oh, let me invest this money for you and some cool business 00:13:11.524 --> 00:13:12.869 opportunity, and then they just steal it. 00:13:12.989 --> 00:13:14.549 Like that happens to athletes all the time. 00:13:15.479 --> 00:13:17.039 I think it's where you get screwed, but I think the most 00:13:17.039 --> 00:13:18.569 important thing is to, to not die. 00:13:20.834 --> 00:13:21.254 Right. 00:13:21.524 --> 00:13:24.884 Ariel Gardner: Will you like figure out a way to cryogenically freeze yourself or 00:13:24.914 --> 00:13:25.064 Bobby Hoyt: No? 00:13:25.064 --> 00:13:26.594 I just mean, I mean immediately not die. 00:13:26.594 --> 00:13:28.214 Like you gotta protect yourself. 00:13:29.264 --> 00:13:30.299 a lot, very paranoid about this. 00:13:30.914 --> 00:13:37.244 Michael Shuman: 600 million is 1 million a month for 50 years. 00:13:37.514 --> 00:13:38.024 Yeah. 00:13:38.144 --> 00:13:40.094 Bobby Hoyt: So even if you just invested like a small portion 00:13:40.094 --> 00:13:41.924 of that, like, I don't know. 00:13:41.924 --> 00:13:42.704 I, you know what? 00:13:42.704 --> 00:13:44.744 Joe Rogan I think is a good example of. 00:13:45.359 --> 00:13:49.049 What I think people turn into when they have a lot, not because he wasn't a, 00:13:49.079 --> 00:13:52.589 like a, an Elon Musk business type of person, cuz I think Elon would take it 00:13:52.769 --> 00:13:56.189 and like just go start some other massive company or something, or buy something. 00:13:56.579 --> 00:13:59.879 But like Joe Rogan was a comedian, relatively like normal person. 00:13:59.884 --> 00:14:01.319 Then he got a hundred million from Spotify. 00:14:02.234 --> 00:14:06.664 What you see him do is like, he invests in companies that align with his interests, 00:14:06.664 --> 00:14:10.784 like supplement companies and athletic stuff and like MMA stuff or whatever. 00:14:10.784 --> 00:14:11.264 I don't know what 00:14:11.264 --> 00:14:11.654 Michael Shuman: I'm invest. 00:14:11.654 --> 00:14:15.190 And also he builds like the coolest studio that he loves to go to with cool 00:14:15.490 --> 00:14:15.700 , you know? 00:14:15.700 --> 00:14:16.420 Yeah, yeah, yeah. 00:14:16.420 --> 00:14:17.800 Billing it and. 00:14:18.880 --> 00:14:20.200 Interviews people for three hours a day. 00:14:20.200 --> 00:14:23.950 Like it's just all aligned with stuff that he likes to do. 00:14:23.950 --> 00:14:28.060 And I think that's where people, whether you have $600 million or whether you have 00:14:28.120 --> 00:14:33.790 a million dollars, there's this kind of wisdom of the world that says, you know, 00:14:33.790 --> 00:14:37.270 you have to, you have to, choose a money manager who you know, can really diversify 00:14:37.270 --> 00:14:38.260 you and do all this kind of stuff. 00:14:38.260 --> 00:14:40.390 And it's like, well, yeah, that's one way to make money. 00:14:40.390 --> 00:14:41.050 It's also a. 00:14:41.695 --> 00:14:45.175 Not know what your money's doing and, you know, turn over your, the decisions 00:14:45.265 --> 00:14:46.615 about that money to someone else. 00:14:47.245 --> 00:14:50.395 Or you can choose the things that you do know about or things you wanna 00:14:50.400 --> 00:14:55.645 learn about and invest in a way that keeps you involved with your money's 00:14:55.645 --> 00:14:57.415 success and keeps you happy too. 00:14:57.895 --> 00:15:01.525 Um, I think people who just, you know, ship all their money off to a money 00:15:01.525 --> 00:15:04.345 manager and are afraid to spend it or afraid to, you know, do anything with 00:15:04.345 --> 00:15:06.295 it that aligns with their passions. 00:15:06.475 --> 00:15:07.405 What fun is that? 00:15:07.535 --> 00:15:08.485 It's not, it's no fun. 00:15:08.925 --> 00:15:09.415 Have, 00:15:09.420 --> 00:15:10.615 Bobby Hoyt: have you said what you would do? 00:15:10.735 --> 00:15:11.455 Did we ask you yet? 00:15:11.455 --> 00:15:13.435 Cause I feel like you're one of those people that just give it all away or so. 00:15:14.485 --> 00:15:15.715 Ariel Gardner: I would not give it all away. 00:15:15.715 --> 00:15:17.185 I would have a lot of fun with it. 00:15:17.185 --> 00:15:21.775 I would probably, uh, buy some cool old cars. 00:15:21.775 --> 00:15:22.975 Bobby Hoyt: What kinda old cars though? 00:15:23.395 --> 00:15:23.665 Like, 00:15:24.085 --> 00:15:26.215 Ariel Gardner: um, a 69 Fastback Mustang. 00:15:26.305 --> 00:15:26.755 Bobby Hoyt: Okay. 00:15:26.755 --> 00:15:27.475 I didn't see this 00:15:27.475 --> 00:15:27.775 Ariel Gardner: coming. 00:15:27.775 --> 00:15:28.105 Alright. 00:15:28.105 --> 00:15:31.825 Yeah, I would have an old Porsche call Larry and figure 00:15:31.825 --> 00:15:33.325 out, you know, what to get. 00:15:34.645 --> 00:15:35.845 Bobby Hoyt: Larry's like, he's our tech. 00:15:36.395 --> 00:15:39.065 If anybody is wondering who's randomly putting the same people's 00:15:39.065 --> 00:15:40.835 names, there'd be some other ones. 00:15:40.835 --> 00:15:43.925 Probably like a, just, you know, like whatever mood you're in, you would 00:15:43.925 --> 00:15:49.925 have a car to drive to Aldi or see, you know, the bank to withdraw more money. 00:15:50.315 --> 00:15:53.135 Uh, yeah, yarn, um, lots of travel. 00:15:53.140 --> 00:15:55.025 Michael Shuman: I think what's the most, and I think we've talked about 00:15:55.025 --> 00:15:59.375 this offline before, but what's the most expensive yarn out there? 00:16:00.575 --> 00:16:03.365 Ariel Gardner: Uh, the most expensive yarn out there, uh, qui. 00:16:04.240 --> 00:16:04.780 I think 00:16:05.230 --> 00:16:08.320 Michael Shuman: And is it just like some, some animal spins it in their, 00:16:08.740 --> 00:16:10.150 in their little nest or something? 00:16:10.650 --> 00:16:14.200 Ariel Gardner: No, quibi is from a bison, I believe. 00:16:14.200 --> 00:16:15.220 I'm looking this up right now. 00:16:15.220 --> 00:16:15.520 I feel 00:16:15.520 --> 00:16:17.170 Michael Shuman: bad that I can, you just bought, remember what if you 00:16:17.170 --> 00:16:20.680 bought farmland with those bison on it and you had an unlimited 00:16:20.680 --> 00:16:22.520 supply of it and you buy, I think 00:16:22.600 --> 00:16:25.810 Ariel Gardner: Ted Turner owns a lot of the land where ICE are right now. 00:16:26.080 --> 00:16:26.350 Yeah. 00:16:26.480 --> 00:16:26.760 Mm-hmm. 00:16:28.020 --> 00:16:30.780 , I mean, I don't really like qubit, so I probably wouldn't buy. 00:16:31.515 --> 00:16:36.255 , you know, bison farm, but small pack of some sheep, it'd be good. 00:16:37.035 --> 00:16:38.805 Bobby Hoyt: Okay, so this is like super eclectic. 00:16:39.885 --> 00:16:41.175 You're just like Joe Rogan, by the way. 00:16:41.175 --> 00:16:43.905 He, he bought a lot of cars, so I don't know if you identified 00:16:43.965 --> 00:16:44.955 Oh, I said that about Ariel. 00:16:45.315 --> 00:16:45.435 Yeah. 00:16:45.435 --> 00:16:46.425 You're just like him. 00:16:46.425 --> 00:16:48.885 And he was like, I have a lot of cars because I have a few money. 00:16:49.005 --> 00:16:49.875 And so that was it. 00:16:49.875 --> 00:16:50.235 So now 00:16:50.235 --> 00:16:51.705 Ariel Gardner: I, this is like the most hurtful thing you 00:16:51.705 --> 00:16:52.755 could ever say to me right now. 00:16:53.955 --> 00:16:59.145 Michael Shuman: And see, I, I find, I find having cars to be like stressful. 00:16:59.145 --> 00:17:00.225 I wouldn't want, I'd want to pick. 00:17:01.740 --> 00:17:03.150 Two cars tops. 00:17:03.390 --> 00:17:03.960 You know what I might do? 00:17:03.990 --> 00:17:11.370 I, I might like, um, like some kick ass RV or something like, some like baller thing 00:17:11.370 --> 00:17:16.050 to like travel the US in with like a hot tub on the roof and not secure enough. 00:17:16.800 --> 00:17:18.090 Ariel Gardner: Yeah, I don't know about that. 00:17:19.170 --> 00:17:21.780 Michael Shuman: I've just got a lot of concerns about someone taking him out. 00:17:22.200 --> 00:17:24.780 Ariel Gardner: I feel like Bobby stays up at night. 00:17:24.780 --> 00:17:26.520 Like this is what wakes him up in the middle of the. 00:17:27.375 --> 00:17:31.385 Bobby Hoyt: Well, it could have something to do with Michael, uh, deeply researching 00:17:31.390 --> 00:17:35.025 me before he came into the company and made me extremely uncomfortable with that. 00:17:36.165 --> 00:17:36.555 I don't know. 00:17:36.555 --> 00:17:38.145 I could be traumatized by something like that. 00:17:38.295 --> 00:17:38.685 Who knows? 00:17:39.885 --> 00:17:41.265 Michael Shuman: Well, we don't have time to get near trauma, 00:17:41.265 --> 00:17:42.345 so I think maybe we move on. 00:17:42.535 --> 00:17:43.105 yeah, it's a good one. 00:17:43.945 --> 00:17:44.245 All right. 00:17:44.250 --> 00:17:50.295 So I wanted to talk about, Recently, Elon bought Twitter and they laid off 00:17:50.295 --> 00:17:55.155 lots of people and after the big wave of people that they laid off, we've 00:17:55.155 --> 00:17:58.065 kind of seen this back and forth and every couple of days this crops up. 00:17:58.065 --> 00:17:59.715 There's some employee. 00:18:00.315 --> 00:18:04.935 Who kind of shoots off at the mouth on Twitter, says something about, the 00:18:04.935 --> 00:18:08.725 company or about Elon, and he fires them, several times, just like let 00:18:08.725 --> 00:18:12.115 them know on Twitter, the podcast is called, questionable Decisions. 00:18:12.265 --> 00:18:15.625 This is my first questionable decision that I posed the two of you. 00:18:16.015 --> 00:18:18.235 What do you think about that decision? 00:18:18.415 --> 00:18:19.435 Good or bad? 00:18:22.000 --> 00:18:22.770 Bobby Hoyt: Actually, I'm gonna go first. 00:18:23.100 --> 00:18:24.210 Ariel Gardner: Go from first. 00:18:24.210 --> 00:18:24.610 Yeah. 00:18:24.970 --> 00:18:30.910 I think that, first of all, I think kudos to them. 00:18:31.540 --> 00:18:33.670 I, you know, I, I don't think that I would do it. 00:18:33.670 --> 00:18:35.410 I think it takes a special person to. 00:18:35.845 --> 00:18:40.495 You know, quit publicly like that because they know that they're gonna quit. 00:18:40.525 --> 00:18:40.825 Right? 00:18:40.825 --> 00:18:42.175 Like, they know that's what's happening. 00:18:42.175 --> 00:18:45.235 Instead of turning in, I the first one did, well, probably not the 00:18:45.235 --> 00:18:48.535 first one, but everybody else after the fact has seen that. 00:18:48.535 --> 00:18:50.515 So why not go out that way? 00:18:51.055 --> 00:18:55.435 And then I feel like these people all are gonna have, I don't know, 00:18:55.435 --> 00:18:57.955 I, I feel like they're gonna have a great job here in the next few. 00:18:58.675 --> 00:19:06.115 Like the, this, like, not martyrdom, but this, uh, I quit Twitter this way. 00:19:06.265 --> 00:19:07.435 This is how I put my job. 00:19:07.495 --> 00:19:08.035 This is how 00:19:08.035 --> 00:19:09.745 Michael Shuman: I got, yeah, tech, tech market is looking really great right now. 00:19:09.745 --> 00:19:11.815 I'm sure that the prospects are, are fantastic. 00:19:11.815 --> 00:19:11.905 Well, 00:19:11.905 --> 00:19:14.275 Ariel Gardner: maybe they'll go, they'll pivot and do something else. 00:19:14.280 --> 00:19:14.845 You know, they'll, 00:19:15.445 --> 00:19:18.145 Bobby Hoyt: it's not the greatest time of all time to make that decision, but yes. 00:19:18.235 --> 00:19:19.945 Michael Shuman: Bobby, what do you think about your employees saying 00:19:19.945 --> 00:19:21.415 like, if you're gonna go out, go. 00:19:21.975 --> 00:19:23.085 The gun's a blazing 00:19:23.235 --> 00:19:23.805 Bobby Hoyt: dude. 00:19:23.805 --> 00:19:26.895 Well, Ariel's already, she's already come at me on Facebook. 00:19:26.895 --> 00:19:31.005 But she does it in a way that's, I can't, I can't actually like fire her for, 00:19:31.005 --> 00:19:35.685 because she is so sarcastic that I'm like, uh, I don't think that that's real. 00:19:35.715 --> 00:19:36.075 You know? 00:19:36.105 --> 00:19:40.605 So it's one of those like, she's very crafty at it, but I think she's wild. 00:19:40.605 --> 00:19:42.315 I think you're wildly wrong here, Ariel. 00:19:42.405 --> 00:19:42.855 Really? 00:19:43.575 --> 00:19:43.935 Yeah. 00:19:43.935 --> 00:19:47.470 What did, like, I think that these people are, Like, I don't think that they did. 00:19:47.650 --> 00:19:48.400 If you watch, okay. 00:19:48.400 --> 00:19:49.210 If you not all of them. 00:19:49.210 --> 00:19:52.810 I think that there are some that are like, I'm gonna go out in the, you know, flame, 00:19:53.050 --> 00:19:55.210 what is that blazing glory, whatever. 00:19:55.600 --> 00:19:57.860 I'm gonna go out and I'm gonna, approve this point or whatever. 00:19:58.130 --> 00:20:01.040 But if you read some of the tweets from some of the people that have done this, 00:20:01.310 --> 00:20:04.460 they, they like didn't see it coming. 00:20:04.580 --> 00:20:06.740 They're like, I got fired and this sucks. 00:20:06.740 --> 00:20:10.730 You know, like how it, they are totally shocked that there was some kind 00:20:10.730 --> 00:20:12.380 of like real world consequence for. 00:20:12.970 --> 00:20:14.230 Talking shit about their new boss, 00:20:14.450 --> 00:20:15.790 Ariel Gardner: which I think, I mean, I think then they would 00:20:15.795 --> 00:20:17.680 get fired in any other way. 00:20:17.714 --> 00:20:20.085 Like I would expect that the majority of people who got 00:20:20.090 --> 00:20:22.275 fired over Twitter this way. 00:20:22.355 --> 00:20:26.595 They, knew what was gonna happen., but the ones who didn't, I mean, they were gonna, 00:20:26.835 --> 00:20:29.655 there was gonna be another reason for them to be fired if they're that stupid. 00:20:29.655 --> 00:20:30.495 Bobby Hoyt: That's probably true. 00:20:31.035 --> 00:20:32.925 I actually think that Elon, I don't know. 00:20:32.925 --> 00:20:36.375 It's hard to tell with him because I don't, I, I can't tell. 00:20:36.375 --> 00:20:37.575 I mean, obviously he's smart. 00:20:37.575 --> 00:20:39.075 I mean, you have to be smart to do what he's done. 00:20:39.495 --> 00:20:44.095 I kind of feel like he was doing some of that on purpose to like suss people 00:20:44.095 --> 00:20:48.055 out a little bit because like he was talking crap about, he actually, he 00:20:48.055 --> 00:20:50.995 tweeted some stuff about how their, how Twitter works and he was wrong. 00:20:51.055 --> 00:20:52.015 Like he actually was wrong. 00:20:52.345 --> 00:20:56.485 So I don't know if he did that on purpose or if he was like, he did that and then 00:20:56.490 --> 00:21:00.605 he, he found all these people that were like quote tweeting him and then just 00:21:00.605 --> 00:21:03.065 like, he was like, oh, I should fire these people cuz it's a bad culture fit. 00:21:03.065 --> 00:21:04.055 Then he kept doing it. 00:21:04.265 --> 00:21:05.735 He has been kind of doing it in a strange way. 00:21:05.735 --> 00:21:07.775 It's been a weird thing to like watch it, watch. 00:21:07.775 --> 00:21:09.575 Usually this stuff happens internally and you don't. 00:21:10.660 --> 00:21:14.315 , but this is happening on a very public stage, so I just don't think, generally 00:21:14.315 --> 00:21:20.615 speaking, it's a good, I think Twitter, I think Twitter is sometimes bad for 00:21:20.615 --> 00:21:26.435 society, and I think that it really causes people to say whatever comes to 00:21:26.435 --> 00:21:27.785 their mind without thinking about it. 00:21:28.115 --> 00:21:28.205 Mm-hmm. 00:21:28.445 --> 00:21:30.635 . Cause I, this is not like, these are not the first people that 00:21:30.635 --> 00:21:34.055 have like faced real consequences from saying things on Twitter. 00:21:34.595 --> 00:21:35.405 So I think, I don't know. 00:21:35.405 --> 00:21:38.765 I feel like if you work at Twitter and you do that and you're surprised, 00:21:38.765 --> 00:21:39.755 then yeah, you're probably dumb. 00:21:40.490 --> 00:21:40.790 Right. 00:21:42.650 --> 00:21:44.120 Michael Shuman: Well, I don't know about gum. 00:21:44.220 --> 00:21:48.720 , I mean, they're obviously, well, I don't know about obviously, but I, I would 00:21:48.720 --> 00:21:50.040 assume that many of them are intelligent. 00:21:50.570 --> 00:21:52.550 I think there's two parts of this that are fascinating. 00:21:52.970 --> 00:22:00.560 Number one, A company like Twitter now being private versus public, a public 00:22:00.560 --> 00:22:05.330 company has to run every decision they make, every, feature that they ship, 00:22:05.600 --> 00:22:09.170 even something like layoffs through what it would do to their stock price. 00:22:09.175 --> 00:22:13.140 Like that, that is the filter that they think through., Elon bought Twitter. 00:22:13.140 --> 00:22:14.190 It's private now. 00:22:15.300 --> 00:22:18.510 I kinda have to remind myself when I see some of the headlines, it's like, oh crap. 00:22:18.510 --> 00:22:19.290 Well that probably hurt Twitter. 00:22:19.290 --> 00:22:20.970 It's like, no, not, not. 00:22:20.970 --> 00:22:22.290 If it doesn't ultimately hurt Twitter. 00:22:23.310 --> 00:22:26.730 There are no investors in Twitter right now, or, there's no open 00:22:26.790 --> 00:22:28.020 investors on the stock market. 00:22:28.464 --> 00:22:30.324 , I find that very interesting to see. 00:22:30.354 --> 00:22:34.014 And Bobby, you also mentioned that a lot of times this stuff happens in private. 00:22:34.464 --> 00:22:37.734 What's funny is not only is it not happening in private, it's 00:22:37.739 --> 00:22:41.484 happening on Twitter, which is the product that is the company. 00:22:41.994 --> 00:22:45.354 so there's like so many layers of just interest there, but. 00:22:46.894 --> 00:22:50.544 Ul Oh, but not speaking of, speaking of people laying off lots of fuel. 00:22:51.054 --> 00:22:51.294 Yeah. 00:22:51.534 --> 00:22:56.784 I think the other thing here is that's fascinating is, and I, I come from 00:22:57.024 --> 00:23:01.944 some startups definitely, no, no Twitter, but there is a real, Silicon 00:23:02.184 --> 00:23:03.944 Valley, like San Francisco type. 00:23:04.429 --> 00:23:08.509 , startups culture, uh, a public persona of being kind of like, 00:23:08.629 --> 00:23:09.649 you know, a little entitled. 00:23:09.709 --> 00:23:11.329 They make, uh, huge salaries. 00:23:11.334 --> 00:23:17.219 They, they all think that, uh, they are God's gift to the company. 00:23:17.609 --> 00:23:24.539 And so in my mind what I saw was, um, quite a sense of entitlement to the job. 00:23:24.899 --> 00:23:26.429 That it was like, how dare I be fire? 00:23:26.429 --> 00:23:27.749 How dare he fire all these people? 00:23:27.749 --> 00:23:28.439 How dare. 00:23:29.969 --> 00:23:31.079 All these layoffs happen. 00:23:31.349 --> 00:23:32.729 That's kind of what a company is. 00:23:32.729 --> 00:23:33.689 It is the real world. 00:23:33.789 --> 00:23:36.039 A company's job is to make money, especially now when they've 00:23:36.039 --> 00:23:38.919 been taken private and they have to make money, whereas before 00:23:38.919 --> 00:23:40.719 they could just bleed money. 00:23:41.299 --> 00:23:44.719 So yeah, I, I think it's very, idiotic to. 00:23:45.139 --> 00:23:48.499 Publicly attack or call out your boss, in public. 00:23:49.019 --> 00:23:51.569 , and yeah, maybe some of them knew that was gonna happen. 00:23:51.569 --> 00:23:53.489 I honestly think that many of them didn't. 00:23:53.489 --> 00:23:56.489 They did not think that that would be the repercussions for their actions. 00:23:57.029 --> 00:24:00.819 , but., in my opinion, uh, those are quite questionable 00:24:00.819 --> 00:24:02.739 decisions to send, that tweet. 00:24:02.919 --> 00:24:03.369 I mean, I 00:24:03.369 --> 00:24:05.229 Ariel Gardner: will agree that it is questionable. 00:24:05.229 --> 00:24:09.999 I, I mean, I think it would take, even if you were expecting this to happen, 00:24:10.059 --> 00:24:15.939 it would take a very special type of person to feel like they could do this. 00:24:15.939 --> 00:24:21.459 I mean, I, I cannot even imagine opening up your computer or like 00:24:21.459 --> 00:24:24.159 pulling out your phone and like, here's what I'm gonna do right now. 00:24:24.189 --> 00:24:25.059 Publicly. 00:24:26.589 --> 00:24:30.699 Try to, I mean, crash and burn my career, like that would be, I 00:24:30.699 --> 00:24:34.209 can't imagine doing it, but there's something about the guts that it 00:24:34.214 --> 00:24:35.769 would take to do that sort of a thing. 00:24:36.369 --> 00:24:40.479 Michael Shuman: Well, you know, there's also no other public figure, none, 00:24:40.479 --> 00:24:44.619 and this is Elon before he bought Twitter, who is as involved and as 00:24:44.619 --> 00:24:47.049 vocal and, and on Twitter as Elon. 00:24:47.499 --> 00:24:50.749 And so I think a lot of the, the Twitter employees likely thought 00:24:50.749 --> 00:24:54.904 that either it wouldn't be seen or it wouldn't if they made a statement, 00:24:54.904 --> 00:24:55.864 it wouldn't be fact checked. 00:24:56.314 --> 00:25:00.494 But on several of these people who have called out Elon, they would say something 00:25:00.494 --> 00:25:01.814 and he'd come back with the receipts. 00:25:01.814 --> 00:25:03.694 Like he'd bring the stats to refute them. 00:25:03.874 --> 00:25:08.254 There was the one recently about how much free meals were costing and he said it 00:25:08.254 --> 00:25:11.194 costs on it, that's $400 a person a meal. 00:25:11.644 --> 00:25:14.854 And someone said, I worked for that department and that's not true. 00:25:14.854 --> 00:25:19.129 And he like, came back with, Basically the receipts, like he owns the company, he has 00:25:19.129 --> 00:25:23.659 the figures, and so I don't think you do yourself any favors by just grandstanding 00:25:23.659 --> 00:25:29.294 or like virtue signaling on Twitter when your boss will call you out and he has the 00:25:29.294 --> 00:25:30.584 information to repeat what you're saying. 00:25:30.824 --> 00:25:32.914 I feel like that's just, that's getting into really. 00:25:33.669 --> 00:25:37.329 Idiotic territory when you, when you kind of make those kinds of statements. 00:25:37.569 --> 00:25:39.429 Ariel Gardner: Now I do have a question about that because that's 00:25:39.429 --> 00:25:40.479 one thing that I thought about. 00:25:41.409 --> 00:25:43.359 Is he like, is it him? 00:25:43.359 --> 00:25:49.719 Is he reading everything or does he have a team who's like scouring Twitter for this? 00:25:49.809 --> 00:25:50.319 Like what 00:25:50.324 --> 00:25:51.549 Bobby Hoyt: is, I think it's him. 00:25:51.849 --> 00:25:52.709 Yeah, I think it's him, which is. 00:25:53.704 --> 00:25:54.664 I, I actually do. 00:25:54.664 --> 00:25:55.684 I, cuz I've thought about that too. 00:25:55.684 --> 00:25:57.094 I'm like, how does this man have time? 00:25:57.304 --> 00:25:58.744 Cause I've looked at his tweets and replies. 00:25:58.744 --> 00:26:01.624 Cuz like if you look at just his tweets, like he, it seems like 00:26:01.624 --> 00:26:02.374 he only tweets a little bit. 00:26:02.374 --> 00:26:05.644 If you look at his tweets and replies, that man is in threads 00:26:06.484 --> 00:26:07.714 constantly tweeting about stuff. 00:26:08.044 --> 00:26:10.804 And it's like, he has 10 kids, right? 00:26:10.954 --> 00:26:12.934 He owns multiple companies. 00:26:13.354 --> 00:26:14.824 How is he doing this? 00:26:14.824 --> 00:26:17.734 I don't, I think that this, this is an accusation. 00:26:17.854 --> 00:26:20.704 I think he's like jacked up on Adderall and like just doesn't ever sleep. 00:26:20.704 --> 00:26:21.334 And I think he's just. 00:26:21.949 --> 00:26:23.029 This is what he does all the time. 00:26:23.479 --> 00:26:24.169 But I do think 00:26:24.169 --> 00:26:25.729 Michael Shuman: like, well, when you're that rich, you follow Disclaimer, 00:26:25.729 --> 00:26:27.379 Bobby Hoyt: disclaimer, disclaimer, disclaimers. 00:26:27.379 --> 00:26:29.929 I don't know if he's on an Adderall or what, and not the data roll's bad. 00:26:30.319 --> 00:26:31.999 I'm not saying anything about it, but I do, 00:26:31.999 --> 00:26:32.929 Michael Shuman: Elon, we, we like you. 00:26:32.929 --> 00:26:36.999 Please don't find this podcast in, we don't know what, what, 00:26:37.004 --> 00:26:38.209 uh, medications you're on. 00:26:38.214 --> 00:26:38.539 But, um 00:26:38.929 --> 00:26:42.679 Bobby Hoyt: I do think that there probably were a lot of people that did 00:26:42.679 --> 00:26:44.569 it and thought like, I'm gonna get fired. 00:26:44.599 --> 00:26:46.969 I'm gonna go down in this, you know, this flame. 00:26:46.969 --> 00:26:49.519 But I don't think that any of them really expected him to. 00:26:50.494 --> 00:26:52.894 Tweeting back at them or tweeting to other people. 00:26:52.894 --> 00:26:54.034 Yeah, I just fired that person. 00:26:54.304 --> 00:26:57.844 That part is surprising, and I think it's kind of, I think it's kind of weird. 00:26:58.174 --> 00:27:00.844 I think it's, I kind of think it's a questionable decision for me, 00:27:00.844 --> 00:27:02.494 Elon, other than it's good content. 00:27:04.114 --> 00:27:04.564 Ariel Gardner: Yeah. 00:27:04.804 --> 00:27:05.224 Yeah. 00:27:05.224 --> 00:27:09.334 I feel like if I, if you were the type of per any of us or anyone, did 00:27:09.334 --> 00:27:13.234 it quit in this fashion and had your boss tweet back at you, like piece 00:27:13.234 --> 00:27:17.414 out, I would frame this like somewhere in your house they're doing that. 00:27:17.414 --> 00:27:18.974 Like this would need to be For sure. 00:27:18.974 --> 00:27:19.864 They're doing that. 00:27:20.584 --> 00:27:21.014 It's brilliant. 00:27:21.014 --> 00:27:21.694 They're framing it. 00:27:22.284 --> 00:27:26.284 It'd be your Christmas card for the year, you know, . Yeah. 00:27:26.289 --> 00:27:26.934 Here's what happened. 00:27:27.709 --> 00:27:29.509 Bobby Hoyt: Maybe you aren't, maybe you aren't actually wrong, 00:27:29.509 --> 00:27:31.039 Ariel, but I just, I don't know. 00:27:31.069 --> 00:27:33.349 I just think, I think it's, I think it's a mix. 00:27:33.349 --> 00:27:35.389 I think it's a mix of people that were doing it on purpose, and I think it's a 00:27:35.389 --> 00:27:38.749 mix of people that are just like, just thought nothing would happen, which is 00:27:38.749 --> 00:27:39.259 Ariel Gardner: wild. 00:27:39.589 --> 00:27:42.019 Do we know how many people have done this? 00:27:42.439 --> 00:27:44.959 Is there any like, stats on the number of people who quit 00:27:44.959 --> 00:27:46.369 this way or called them out? 00:27:46.369 --> 00:27:46.699 I, I 00:27:46.699 --> 00:27:47.299 Bobby Hoyt: don't know. 00:27:47.299 --> 00:27:50.269 I've, I've personally have only seen like three, but I'm sure there's, yeah. 00:27:50.269 --> 00:27:50.869 Plenty more than, 00:27:51.724 --> 00:27:56.644 Michael Shuman: It feels like probably like five total tops, um, kind of 00:27:56.644 --> 00:27:59.404 public, public tweets that I've seen. 00:28:00.004 --> 00:28:01.774 Hmm, interesting. 00:28:02.967 --> 00:28:08.697 So, so, uh, so on this, on this decision, Ariel, are you sticking with your. 00:28:09.269 --> 00:28:13.859 Ariel Gardner: I mean my, my verdict is that it is questionable, but 00:28:13.859 --> 00:28:18.869 I support these people for making it because I think that they 00:28:18.869 --> 00:28:20.309 probably knew what they were doing. 00:28:20.619 --> 00:28:20.769 Michael Shuman: Okay. 00:28:21.012 --> 00:28:21.852 Bobby, what about you? 00:28:22.452 --> 00:28:23.082 Questionable or not? 00:28:23.442 --> 00:28:24.462 Bobby Hoyt: I think it's super questionable. 00:28:24.462 --> 00:28:28.182 I think it's funny too, which I don't know if I should say that It's hilarious. 00:28:28.232 --> 00:28:30.902 I think it's questionable, hilarious, and I do not support these people. 00:28:32.530 --> 00:28:34.454 Ariel Gardner: But if you're listening, we would love to interview 00:28:34.454 --> 00:28:37.784 you . Find out why you decided to do 00:28:37.789 --> 00:28:38.204 Bobby Hoyt: this. 00:28:38.474 --> 00:28:39.824 Oh, that would be hilarious. 00:28:40.184 --> 00:28:41.384 I would have to probably not say anything. 00:28:41.384 --> 00:28:43.004 I would be super embarrassed cuz I'd be like, ah. 00:28:43.034 --> 00:28:43.934 Said you were stupid. 00:28:44.534 --> 00:28:46.214 So I wouldn't talk in that podcast. 00:28:47.570 --> 00:28:48.080 Ariel Gardner: All right. 00:28:48.080 --> 00:28:48.770 That was it.. 00:28:48.820 --> 00:28:52.180 , we'll be back in the future with more, and, , thanks for listening.