Podcast Summary
From Real Estate to YouTube: A Journey of Patience and Persistence: Starting a YouTube channel requires patience and persistence. Focus on creating valuable content and trust the process for financial rewards, even if it takes time.
Starting a YouTube channel from scratch requires patience and persistence. Jeremy, a financial educator with a popular YouTube channel, began his journey in real estate photography but turned to YouTube for fun when he wasn't making enough clients. He recorded short videos on basic financial concepts, keeping his earliest videos up for viewers to see his progress. For the first year, he didn't make any significant money, but he continued producing content, eventually earning his first $100 check. Despite not initially intending to make money, he saw the potential and kept going. His advice for those starting a YouTube channel is to focus on creating valuable content and trusting the process, even if it takes time to see financial rewards.
Overcoming Fears in Business and Real Estate: Despite initial hesitation, pursuing passions and new opportunities can lead to financial success and personal growth. Thick skin is essential when dealing with volatile markets, but starting early and embracing trends can yield significant rewards.
Fear and uncertainty can hold us back from pursuing our passions and potential sources of income. The interviewee shares how they were initially hesitant to delve into the stock market due to legal concerns and lack of knowledge, but eventually overcame these fears and found success. Simultaneously, they also capitalized on a new trend in real estate marketing by using drones for aerial videos before it became mainstream. Both ventures paid the bills and fueled the growth of their YouTube channel. The interviewee emphasizes the importance of thick skin when discussing stocks due to their volatility, but acknowledges the inspiration and impact of starting their channel during its early days and the limitless possibilities it has shown for creators in the space.
From Real Estate to YouTube: Seizing Opportunities: Trusting instincts led a speaker to leave a successful business for YouTube, gaining significant profits through content creation and stock trading
The speaker made a bold decision to leave his successful real estate marketing business to focus on YouTube full-time due to the significant growth potential and poor return on investment. He was initially embarrassed about his YouTube presence but has since gained confidence and now makes money through YouTube and trading stocks. The stock market, particularly Tesla, has been particularly profitable for him recently. Despite initial hesitation and embarrassment, the speaker's decision has paid off, demonstrating the importance of seizing opportunities and trusting one's instincts.
Managing Wealth Privately on Social Media: Investors can maintain privacy by managing separate public and private investment accounts on social media, allowing them to build a portfolio away from public scrutiny and make moves without external pressure.
The speaker, who manages both a public and a private investment account on social media, emphasizes the importance of privacy in managing his wealth. He shares every move he makes in his public account, but keeps his private account hidden from the public eye. The speaker's private account mirrors the public one, but he doesn't reveal its size or contents, even to his paid membership. He values privacy and sets boundaries for what he shares publicly, using the private account to build an investment portfolio away from public scrutiny. The speaker's success in the public account, which has seen significant gains in recent months, has made it difficult for him to contribute new funds due to the market's upward trend. The private account serves as a personal investment vehicle where he can make moves without public attention.
Long-term perspective is crucial for investing in volatile stocks: Focus on long-term growth potential of companies like Tesla, rather than short-term price fluctuations. Patient, well-researched approach is more likely to yield successful results.
Successful investing in stocks, especially in companies like Tesla, requires a long-term perspective. The speaker in this conversation emphasizes that these stocks, much like companies such as Amazon and Apple, can trade significantly above or below their actual value based on market sentiment and investor expectations. Therefore, it's essential to view stocks as long-term investments, focusing on the company's potential growth over several years rather than short-term price fluctuations. The speaker also suggests that trying to time the market or make quick profits through short-term trading in volatile stocks like Tesla is not a reliable strategy. Instead, a patient, well-researched approach that considers the company's fundamentals and future prospects is more likely to yield successful results.
Learning from successful investors like Warren Buffett: Understand business fundamentals before investing, evaluate thoroughly, and build confidence in decisions to avoid questionable opportunities
Learning about investing in the stock market can be done through various resources, such as watching educational interviews with successful investors like Warren Buffett on YouTube. Buffett's investment strategies, particularly focusing on the fundamentals of a business, are still effective, but it's important to understand that some investors may not be able to adapt to new trends and technologies, making it essential to evaluate a company's business model thoroughly before investing. A notable example of a questionable investment opportunity is Hertz, a company that filed for bankruptcy, where the stock price should have gone to zero, but instead, it was bought up by speculators, leaving shareholders with little to no return. The most crucial aspect of investing is to understand the business fundamentals first and build a circle of confidence around your investment decisions.
Unexpected Turnaround of Bankrupt Companies in the Stock Market: The stock market can experience unexpected price increases due to short-term speculation, even for bankrupt companies. However, this strategy isn't sustainable and investing in failing business models is generally not advisable.
The stock market can be unpredictable, and even a bankrupt company like Hertz can experience a dramatic turnaround due to a perfect storm of events, including high short interest, widespread buying, and forced buying due to short covering. This phenomenon, while not common, can lead to significant price increases, as seen with Hertz's $1 billion stock issuance to potentially avoid bankruptcy. However, this short-term speculation is not a sustainable long-term investment strategy. Traders can sometimes get lucky and make profits, but investing in failing business models is generally not advisable. Companies like Hertz face challenges such as a bad balance sheet, disrupted industries, and new competitors, which can lead to bankruptcy. The recent classification of Uber drivers as employees in California adds another layer of complexity to the ride-hailing industry. Overall, the stock market is full of surprises, and it's essential to approach investments with a well-informed and long-term perspective.
Classification of Uber drivers: Employees or Contractors?: Uber drivers' classification as employees could bring advantages like set hours and benefits, but may also lead to complications like price wars and potential loss of driver control over earnings.
The classification of Uber drivers as employees rather than independent contractors could lead to both advantages and disadvantages. On the positive side, some drivers may prefer set hours and benefits, but many may dislike the loss of control over their earnings. A potential solution suggested was allowing drivers to set their own rates, similar to the freight industry. However, this could lead to complications such as price wars, bidding wars, and potential price fixing among drivers. Additionally, the government's motivation for this change may be tax-related, as employers are required to take out taxes for their employees while independent contractors are responsible for their own. Overall, the impact on Uber's investment potential depends on the speed of the rideshare industry's recovery post-pandemic. While Uber Eats has seen success during this time, the rideshare business has been negatively affected by travel restrictions.
Impact of COVID-19 on Cruise Line Industry: The COVID-19 pandemic significantly affects industries, but investing principles remain consistent. Rumors of shutdowns can cause uncertainty, but credible sources are crucial for informed decisions.
The COVID-19 pandemic has significantly impacted various industries, and some businesses have been fundamentally altered. For instance, the cruise line industry, represented by Carnival Cruise Line in this discussion, has been hit hard due to shutdowns. However, the investing strategy hasn't changed drastically, as the same principles are applied across the board. Rumors of city-wide shutdowns, such as San Francisco, can cause uncertainty but may not necessarily alter investment decisions. It's essential to distinguish between rumors and confirmed information. TMZ, despite being a gossip news outlet, has proven to be a credible source at times. The ability to generate attention, whether through controversy or innovation, is a valuable skill for businesses and individuals alike.
Using a public image to gain attention and build a following: Leveraging a controversial or silly persona can attract attention, build a following, and lead to significant wealth.
Creating a public image, even if it's perceived as silly or controversial, can be a powerful tool for gaining attention and building a following. The Kardashians, Paris Hilton, and Floyd Mayweather are prime examples of individuals who have mastered this art. They may have been criticized or mocked, but their ability to captivate audiences, whether through reality TV shows or high-stakes bets, has made them household names and amassed significant wealth. Behind the scenes, they are often more intelligent and strategic than they appear on the surface. Paris Hilton and Kim Kardashian used their experiences as interns and reality TV stars to learn the ropes and build their own brands. Floyd Mayweather's invincibility in the ring and Anthony's unwavering belief in his wins made them magnets for attention and money. While the path to success may involve playing up a public persona that is not entirely authentic, the payoff can be substantial.
A Fighter's Gambling Experience in Las Vegas: Gambling in Vegas can lead to unexpected wins, but even experienced players can lose money, especially when a novice woman is present at the table.
The speaker is a fighter considering retirement from the sport, and he's currently residing in Las Vegas due to its entrepreneurial vibe and lack of state income taxes. The speaker shared his experience of gambling in Vegas, particularly a time when his girlfriend, who was a novice at the game, had an unexpected winning streak that left everyone at the table in awe. Despite being surrounded by winnings, the speaker unfortunately lost money during that experience. The speaker also mentioned that he would be willing to bet on the fighter's potential comeback, with a comfortable bet of $20,000, but only if he lost the bet. The speaker enjoys living in Vegas, and when visitors come, they often want to go to the strip and gamble. The speaker and his friend, Graham, enjoy playing games like blackjack, baccarat, and craps. The speaker mentioned a superstition that when a woman, especially a novice, comes to the table, men tend to bet heavily because she might keep rolling winning numbers unintentionally. The speaker shared that this can lead to significant winnings for those who bet on her, but unfortunately, he lost money during that particular instance.
Unpredictability of Gambling: Gambling involves unpredictable outcomes and significant risks, with potential for both losses and big wins.
Gambling, especially at a casino, can be unpredictable and risky, with some people experiencing significant losses despite long winning streaks or using various strategies. The speaker shared an experience of losing money while betting on the field during a long role, while his friend Graham usually wins. Another strategy mentioned was doubling down, as demonstrated by a friend named Kevin, who keeps betting even after losses and eventually wins big. However, the risks and potential for significant losses are always present. The speaker also shared how they use the term "holy smokes, this ain't no joke" for big news or significant events in their content. Overall, the conversation highlights the unpredictability and risks associated with gambling.
Building genuine connections with opportunities: Authenticity and openness can lead to valuable opportunities, but vulnerability and disclosing personal information can be uncomfortable. Building a relationship first can help overcome these challenges and lead to growth.
Building a genuine connection with potential opportunities, such as CNBC in this case, can be crucial in expanding one's reach and growth. Sharing personal experiences and being open to new experiences can lead to valuable opportunities. However, it can also involve vulnerability and disclosing personal financial information, which may be uncomfortable for some. In the conversation, the speaker expresses his hesitation to share personal aspects of his life with CNBC due to a lack of prior relationship. He also admits to having no idea how much he spends monthly and acknowledges the need for a budget. Despite the challenges, he ultimately decides to reach out to CNBC, recognizing that the potential benefits could outweigh the discomfort. The conversation highlights the importance of authenticity and openness in building connections and the potential rewards that can come from stepping out of one's comfort zone.
YouTube vs Stocks: Different Paths to Success: Graham Stephan earns from YouTube and stocks, recognizes the time investment and potential earnings disparity, and considers expanding his business opportunities.
Success in different fields, such as YouTube, stocks, or real estate, can vary greatly in terms of time investment and potential earnings. Graham Stephan, a popular YouTuber, shares that he makes a significant income from YouTube but also manages substantial gains in the stock market. He acknowledges that some people may believe he makes more from YouTube than they do from their own jobs, but the scale of their respective endeavors is not comparable. Graham invests an immense amount of time into creating YouTube content, which he considers passive income compared to his active involvement in the stock market. However, he sometimes wonders if his focus on YouTube is limiting his potential in other areas, leading him to ponder the possibility of exploring new business opportunities. Despite the financial rewards, Graham recognizes that the attention and impact of some individuals in entertainment industries can surpass that of content creators like himself, who educate and entertain thousands of viewers daily. Ultimately, the monetization potential lies in the hands of the creators themselves, as demonstrated by Tanner J Fox's success in the Amazon FBA space through course sales despite having relatively low viewership.
Leveraging control and monetization methods on YouTube and TikTok: YouTube and TikTok offer creators more control over their audience and various monetization methods beyond ad revenue. Success comes from strategic partnerships, back-end deals, and trending content.
Creating content on platforms like YouTube and TikTok can lead to significant financial gains, but it requires strategic monetization methods and consistent growth. Unlike traditional TV, creators have more control over their audience and can monetize through various means beyond ad revenue. For instance, Jake Paul, who started on Disney and grew a massive YouTube audience, made most of his money through back-end deals and brand partnerships. The potential for exponential growth is evident in the success of TikTok creators like Charli D'Amelio, who can amass millions of followers and redirect a small percentage of their audience to earn substantial income. However, getting on the trending page requires a popular topic, a good message, and a clickable title. Success stories like Clear Value, Meet Kevin, and Jeff Rose prove that with the right approach, finance content can also trend on YouTube.
The financial space on YouTube is growing rapidly: Understanding personal finance through YouTube can impact various aspects of life, and the number of creators in the space is increasing, with some reaching million-view videos
The financial space on YouTube has grown significantly in recent times, with creators seeing their videos trend and reach large audiences within the first 48 hours of posting. This was once unheard of, as the finance space was non-existent on YouTube just a few years ago. However, the importance of the financial space should not be underestimated, as understanding personal finance can impact various aspects of one's life, from where they live to the food they eat. With more people recognizing the importance of financial literacy, the number of creators in the space is increasing, and some are even reaching million-view videos. While there's still a way to go before the financial space reaches the same viewership levels as more universal channels like Mr. Beast, there's growing optimism that it will continue to expand and become a major player on YouTube.
Niche markets offer opportunities for significant viewerships: Day trading, despite being a niche market, could potentially attract millions of viewers due to entertainment and education value, but concerns about access and gambling exist. Individuals must decide if they're creators or investors, but balance may shift over time.
While there are large markets like makeup and beauty with massive viewerships, many niched-down markets still exist where creators can amass significant viewerships. For instance, day trading, despite being a niche market, could potentially attract millions of viewers due to the entertainment factor and financial education value. However, these markets are currently unregulated, and there are concerns about the ease of access and potential gambling tendencies. Ultimately, individuals must decide which role they identify with more strongly - creator or investor - but the balance between the two may shift over time as financial success grows. The speaker, for his part, still considers himself a YouTuber first, but the time spent on stock market investment is increasing and becoming more significant. The speaker also grapples with the time commitment required for managing a membership group and wonders if that time could be better spent on researching companies directly.
Weighing the pros and cons of creating content from home vs. having a physical office: Creating content from home can save costs and allow for almost 100% profit, but may be harder to maintain a professional image. Having a physical office provides write-offs and a professional image, but comes with overhead costs.
Creating content, whether it's through YouTube or other platforms, and being authentic in your approach can lead to financial success. However, there are considerations to make when deciding where to create that content. For instance, having a physical office space can provide write-offs and a professional image, but it also comes with overhead costs. On the other hand, creating content from home, like the real estate guy in the discussion, allows for minimal expenses and almost 100% profit. However, it may be harder to maintain a professional image and separate work and personal life. Additionally, investing in real estate can also be a profitable venture, but it requires careful consideration of the market and potential expenses. Ultimately, it's essential to weigh the pros and cons of each option and decide which aligns best with your goals and resources.
Emotional intelligence and discipline are keys to growth in YouTube and investing: Understanding risks and maintaining emotional control are crucial for making objective investment decisions and growing a loyal YouTube audience.
Consistent growth in a YouTube channel or investment portfolio requires emotional intelligence and discipline. The speaker shared his experience of gradual growth in his YouTube channel and how he values loyal viewers who stick with him through ups and downs in the market. He emphasized the importance of understanding the risks and being prepared for potential losses. While intelligence is a factor in investing, emotional control and discipline are crucial to making objective decisions based on fundamentals rather than emotions. The speaker's approach to discussing failures and risks in his videos helps build a community of informed and intelligent investors.
Understanding fundamentals and long-term vision: Successful long-term investing involves understanding a company's fundamentals, maintaining discipline, and preparing for unexpected changes. A multi-year investment horizon and learning from past experiences are crucial.
Successful long-term investing requires both a solid understanding of a company's fundamentals and discipline to avoid impulsive decisions. The speaker emphasizes the importance of a multi-year investment horizon and being prepared for unexpected changes in business models or market conditions. While sharing his biggest wins and losses, he acknowledges the risks involved and the importance of learning from past experiences. The speaker also expresses caution about investing in struggling stocks, even if they appear undervalued, due to uncertainties surrounding economic recovery and consumer behavior.
Balancing Real Estate and Stocks Investments: Investing in both real estate and stocks allows for diversification and adapting to market conditions. Be prepared for potential market fluctuations and recognize long-term value in undervalued stocks.
In the current economic climate, it's crucial to maintain a balance between different investment types, such as real estate and stocks. The speaker shares his personal experience of investing in both sectors, highlighting the importance of diversification and being prepared for potential market fluctuations. He bought stocks like Tesla, Cheesecake Factory, and Boeing when their prices dropped significantly, recognizing their long-term value despite short-term challenges. On the other hand, he continued investing in real estate, but acknowledged that the time spent on finding and renovating properties might be better spent on earning returns through safer investments like index funds. Ultimately, the speaker emphasizes the importance of being adaptable and open to different investment opportunities based on market conditions.
Investing in trusted companies and waiting for market recovery: Invest in companies you use and trust, even during market downturns. Thorough research, listening to conference calls, and aiming to outperform the market can lead to successful investments.
The speaker believes in investing in companies he uses and trusts, such as Cheesecake Factory, American Express, and JPMorgan. He also believes that even if a company's stock price drops significantly, it may still be a good investment if the business is sound and returning a profit. The speaker regrets missing out on investing earlier in the stock market but encourages participation, even if it's through index funds. He met Graham Stephan around 2017 and can't recall exactly how they connected. The speaker's investment strategy is based on thorough research, listening to conference calls, and aiming to outperform the stock market. He feels that not participating in the stock market can lead to losing money over time. Despite missing some opportunities, the speaker remains optimistic that there may still be bargains to be found in the market.
Building genuine relationships in business and creativity: Finding and nurturing genuine relationships can lead to personal growth and long-term success in business and creativity. Value friends who lift you up and provide new ideas, rather than just using them for personal gain.
Building genuine relationships in business and creativity can lead to long-term success and personal growth. The speaker recounted their early experiences with a friend, Graham, who they initially met through a chance encounter. At the time, the speaker was focused on their own work and less open to connections. However, they found that Graham was an exception, and they built a friendship that extended beyond their YouTube channels. The speaker emphasized that they value friends who lift them up and provide new ideas, rather than just using them for personal gain. They also mentioned the challenges they faced in the early days of their careers, where building a successful event was difficult due to their limited reach and brand recognition. Despite these challenges, the speaker and Graham continued to build their relationship and found value in each other's perspectives and expertise. The speaker concluded by acknowledging that finding like-minded individuals in their industry is rare and cherished.
Building Meaningful Relationships in Social Media: Connect with like-minded individuals, respect others' financial habits, and stay true to your values to build lasting relationships in social media.
Building long-term relationships in any space, including social media, is essential for those who aim for long-term success. The speaker emphasizes the importance of connecting with individuals who share similar values and goals, as opposed to those who are only focused on making quick money and disappearing. The speaker also highlights the significance of having a non-scarcity mindset towards money, while respecting others' financial habits, even if they differ significantly. Furthermore, the speaker values frugality but acknowledges that everyone has unique approaches to managing their finances. Ultimately, the key to success lies in staying true to one's values and building meaningful relationships that last.
The Importance of Values and Intentional Financial Decisions: Dropping out of college to invest and work early led the interviewee to build a substantial nest egg and pursue entrepreneurial endeavors, emphasizing the power of intentional financial decisions and staying true to one's values.
The interviewee values experiences and purchases that hold personal significance to him, even if they come with a high price tag. He dropped out of college to work and invest early, which turned out to be a financially wise decision for him. The interviewee also shared some interesting thoughts on various topics, such as fighting a big duck versus a hundred small horses, cereal not being a soup, and the first person milking a cow being bored. However, the overarching theme of the conversation was the importance of making decisions that resonate with one's values and goals. The interviewee's decision to drop out of college and focus on work and investing at a young age allowed him to build a substantial nest egg and pursue his entrepreneurial endeavors. Overall, the conversation highlighted the power of making intentional financial decisions and the importance of staying true to one's values.
Taking advantage of promotional offers in investing: Claim your 2 free stocks on Webull through referral links and stay informed about investing opportunities
Importance of taking advantage of promotional offers in the world of investing, such as the 2 free stocks you can get on Webull through referral links. Our speakers were so engaged in the topic of the stock market that they couldn't help but express their enthusiasm with their body language throughout the episode. It's been a while since Graham and one of the speakers had collaborated on a video, making this a fun and exciting experience for all involved. Despite the lapse in time, they picked up right where they left off, demonstrating the value of maintaining a strong network and keeping up with industry trends. So, if you haven't already, be sure to claim your 2 free stocks on Webull using a referral link and stay informed about opportunities in the stock market.
