Valuetainment - Episode 220： Inside the Mind of Patrick Bet-David

00:00:00.000 30 seconds, one time for the underdog, ignition sequence start.

00:00:07.000 Let me see you put them up, reach the sky, touch the stars up above, cause it's one time

00:00:13.100 for the underdog, one time for the underdog.

00:00:17.240 I'm Pat Trubet, the host of Ayutemi.

00:00:18.900 You know, so many times many of you ask me and say, well, Pat, I want to know what you

00:00:22.100 think about it.

00:00:22.640 I know you interview a lot of people, but how about you allowing other people to ask

00:00:25.600 you questions?

00:00:26.040 Today, I'm sharing one of the recent podcasts I did that is going to give you a little bit

00:00:31.960 of an insight on my mind and what I think about.

00:00:34.980 Dietainers, every once in a while I get interviewed by somebody that runs their own podcast or YouTube

00:00:38.920 channel that asks questions that have not been asked before, which leads to answers and topics

00:00:44.640 that we haven't spoken about before, and I get compelled to want to share it with you,

00:00:48.160 and that's exactly what happened with Petros when he interviewed me.

00:00:51.280 He has his own YouTube channel.

00:00:52.200 He runs a business, owns 700 gyms, very successful entrepreneur out of California, and I think

00:00:57.360 you're going to take a lot away from this video today.

00:01:00.500 Again, multi-dimensional type of a conversation that I think you will appreciate.

00:01:05.320 Hey, friends.

00:01:05.940 Petros Koulian here.

00:01:06.880 Welcome to another great episode of the Empire Podcast Show, Inside Look.

00:01:11.100 Today, we have a very amazing friend, someone that I look up to, learn from, and of course,

00:01:15.780 get entertained by Mr. Patrick Bedavid, founder and CEO of PHP Agency and Valuetainment, an

00:01:25.420 amazing show that I'm hooked on.

00:01:27.300 Pat, welcome to the Empire Podcast Show.

00:01:28.860 Thanks for having me, bud.

00:01:29.760 Yes, sir.

00:01:30.280 First and foremost, I got to tell you, I got to...

00:01:33.180 Your interviews of people that...

00:01:37.120 Well, mob bosses and people that infiltrated the mob had me so fascinated that I went back

00:01:44.060 and watched Donnie Brasco and all those movies again, because I'm such a big fan of that

00:01:48.580 era.

00:01:49.220 I do have a question for you where that's concerned.

00:01:51.500 If we lived in a different time, maybe if we went back, let's say, 40, 50 years, would

00:01:57.380 Patrick had been a gangster?

00:02:01.000 I think if a Michael Francis was a father figure type, probably, and I would have probably done

00:02:08.440 a pretty good job at it.

00:02:09.500 Fascinating.

00:02:09.900 If I had a father figure like a Michael or a Sonny or one of those guys, most likely.

00:02:15.320 Gotcha.

00:02:16.220 Do you think you think like a gangster at times?

00:02:18.100 You have to.

00:02:19.440 There's no question about it.

00:02:21.240 In the business world?

00:02:22.280 Sure.

00:02:22.580 Oh, you have to think that way.

00:02:23.940 Interesting.

00:02:24.420 Oh, you have to, especially in the world of...

00:02:27.080 Look, we're friends.

00:02:28.560 We're competitive.

00:02:28.980 We may talk here, but within your world, the bigger you get, there's a lot of people that

00:02:33.580 are not happy about your brand getting bigger.

00:02:35.600 Sure.

00:02:36.040 You open and got more gyms.

00:02:37.140 This is not exciting to a lot of other people that own gyms.

00:02:39.920 It's not even exciting to somebody that runs a different model when it comes down to franchising.

00:02:43.860 Right.

00:02:44.240 So you're not helping people.

00:02:45.540 It's helping competitors.

00:02:46.880 You're hurting them.

00:02:47.760 True.

00:02:48.080 And when it comes down to it, if it's between your five locations versus my five locations,

00:02:53.580 they are going to be competitive.

00:02:55.100 So you get in the world of business being very, everybody wants to help, everybody's this,

00:03:00.160 and then you realize there's a part of it that some of the people would take their side

00:03:03.160 over you any day.

00:03:03.720 All right.

00:03:04.520 Now, I think the bottom line here as we start off the show is that entrepreneurship is a

00:03:08.080 lot like being a gangsta.

00:03:09.240 It is.

00:03:09.700 All right.

00:03:10.140 It is.

00:03:10.900 Minus the killing and all the other stuff.

00:03:12.920 Right, right.

00:03:13.780 Well, we're killing spirits sometimes, and there's a lot of truth to that. 1.00

00:03:17.180 We do...

00:03:17.880 Part of good marketing, I believe, is killing the spirit and the will of your competitor

00:03:21.720 to thrive.

00:03:22.940 And I think all great entrepreneurs must do that.

00:03:25.140 It's just my own personal viewpoint on it.

00:03:27.480 And so let's start off here before we get into value attainment and PHP.

00:03:31.880 I'm very fascinated about your journey because, like me, you're an immigrant to the United

00:03:37.100 States.

00:03:37.980 I was six when I came to the United States.

00:03:39.820 You were 10.

00:03:41.080 What catapulted the move to the United States?

00:03:44.720 What catapulted the move from Iran to come in here?

00:03:47.260 Well, my father, my mother would go back, and my father would say, let's wait till we get

00:03:52.220 the green card before we go to Germany.

00:03:53.920 And then when the war happened between Iran and Iraq, and Khomeini died June 3, 1989,

00:03:59.880 my mother said, we got to get out of here.

00:04:01.320 So six weeks later, we escaped.

00:04:02.600 We went to Germany, lived there for about a year and a half at a refugee camp, and then

00:04:06.200 we came out here November 28, 1990.

00:04:09.460 So we had to get out.

00:04:10.420 My parents didn't want me to serve the military over there.

00:04:13.040 And once I hit 12, I can't leave for no reason in Iran.

00:04:17.240 Really?

00:04:17.540 At that time.

00:04:18.080 Yeah, so they wanted to get me out before I hit the age 12, so we can, you know, not

00:04:23.740 get caught up being there till 20, 22 years old.

00:04:25.820 Obviously, I came over here, and I served the U.S. Army, which was kind of wild.

00:04:29.080 My mother was in Iran, and she got at a point where she ran out of money in the States, and

00:04:34.720 we were a welfare family at that time.

00:04:36.720 My mother went to Iran, and she said, you have one of two choices.

00:04:39.580 You can come back with me to Iran, or you can stay here and figure it out. 0.98

00:04:42.360 That's why I'm staying here.

00:04:43.640 I stayed here four weeks later.

00:04:45.160 I went to South Carolina, Fort Jackson, Kentucky, started the Army.

00:04:48.340 Why?

00:04:48.620 Called her up.

00:04:49.080 I said, I'm in the Army.

00:04:50.380 Why join the Army?

00:04:51.360 Why at that time?

00:04:52.300 So I'll give you the logical and the emotional.

00:04:55.280 Logical.

00:04:56.280 A guy named Jesus Guerrero kept following up with me since 14 years old.

00:05:01.180 Okay, I wasn't a good kid in school.

00:05:02.460 I was a troublemaker, 1.8 GPA.

00:05:04.120 So he kept coming, saying, what do you want to do with your life?

00:05:06.440 I don't know what I'm going to do with my life.

00:05:07.880 What are you going to do?

00:05:08.480 He kept saying, you ought to consider the Army, all these other things.

00:05:10.560 So one day, I'm living with my sister for a month.

00:05:14.380 The following morning, we partied till 4 o'clock in the morning at her apartment.

00:05:18.080 At 17550 Burbank Boulevard in Encino.

00:05:21.840 And in the morning, her boss came, you know, her, what do you call it, a landlord came

00:05:25.060 to her saying, listen, you guys partied too hard last night.

00:05:27.200 You know, there's bottles of tequila and vodka all over the jacuzzi.

00:05:30.440 This is an apartment complex.

00:05:31.920 You cannot be doing this.

00:05:33.700 And so she was getting evicted.

00:05:35.140 She told me, you got to do something.

00:05:36.300 And in the morning, I woke up, they stole my Toyota Corolla 1983.

00:05:39.920 Call my dad.

00:05:40.800 I said, dad, take me to the recruiting station.

00:05:42.420 Went to the recruiting station, signed up.

00:05:43.720 That was it.

00:05:44.800 Instant decision.

00:05:45.620 Like, there wasn't any, let me think about it.

00:05:48.700 The car's stolen.

00:05:49.720 I'm sitting at the balcony.

00:05:50.920 I'm looking outside.

00:05:52.220 I come inside.

00:05:53.080 I call my dad.

00:05:53.780 Take me to Glendale.

00:05:54.600 Text me to Glendale.

00:05:55.760 I tell the guy, if you can get me in the Army tomorrow, I'm signing up.

00:05:58.200 He says, it's three months.

00:05:58.960 I said, I'm not signing up.

00:05:59.980 They make a few calls.

00:06:01.320 They get the orders from MEP station.

00:06:03.700 Come back two weeks later, I'm in South Carolina.

00:06:05.200 Why, if you can get me in the Army tomorrow and not wait three months?

00:06:08.040 I am a guy that when I make a decision, I make a decision.

00:06:11.900 Have you always been decisive?

00:06:12.760 I would say I've always been pretty decisive.

00:06:14.580 Once I make the decision.

00:06:16.240 So for me, what has happened with maturity is I am now calculating a lot more reason and consequences of the decision.

00:06:23.720 Because back then, I only had to think about one person as a decision goal.

00:06:27.080 Today, I have to think about my employees, my investors, my family, my wife, my kids.

00:06:30.920 The crusade, the cause, the vision, long-term, short-term.

00:06:33.500 I have to think about all those things.

00:06:34.780 So the decision may take a little longer.

00:06:37.480 But once I make it, I'm moving on.

00:06:40.180 Gotcha.

00:06:40.580 That's fascinating.

00:06:41.700 So you're in the 101st?

00:06:43.620 Airborne.

00:06:44.060 Airborne.

00:06:44.480 Yeah.

00:06:44.920 Gotcha.

00:06:46.540 And so you get out of the military.

00:06:48.100 How old are you at this point?

00:06:49.720 I'm about to turn 21.

00:06:51.840 June of 1999.

00:06:53.660 Okay.

00:06:54.080 So I'm going to fast forward just for a second to today.

00:06:56.220 Like today, you've got this amazing YouTube channel, Valuetainment, which truly, when I say,

00:07:00.100 this man entertains me, guys and gals, my wife and I, I'm like, honey, you've got to

00:07:05.400 watch this.

00:07:06.020 This is a guy, Joe Piscone.

00:07:08.240 Joe Pistone.

00:07:08.960 Pistone from Donnie Brasco.

00:07:10.900 I'm like, this is a guy, and Pat's interviewing him.

00:07:13.040 Your interviews are so unique and different.

00:07:14.860 For me as an entrepreneur, it doesn't matter who you're interviewing, whether it's athletes

00:07:18.340 or Wolf of Wall Street, Jordan Belford, or any kind of former gangster, FBI agent, doesn't

00:07:25.020 matter.

00:07:25.380 I can take something to apply to my life or my business.

00:07:28.640 So it's entertaining, and I can extract value, hence Valuetainment.

00:07:32.680 You named it appropriately.

00:07:35.580 This obviously seems like your passion project, and you financially do very well in life that

00:07:40.120 you're able to do your passion project.

00:07:41.700 Where did this passion project come from?

00:07:43.080 So if you go back in high school, if you and I hung out together, I told stories, I pulled

00:07:49.860 pranks.

00:07:51.020 I was the jokester, but the guy that would bring people together, and I was curious.

00:07:56.260 I want to know your story.

00:07:57.580 I want to know about your parents, how your parents met.

00:08:00.580 I was always curious.

00:08:01.540 Even when we're upstairs, I'm asking you questions.

00:08:03.540 I want to know your upbringing, older sister, older brother, six years old when you came out

00:08:08.640 here, 700 stores, $67, $9.97.

00:08:11.900 I'm looking at everything you're telling me, your age, you talk about your wife, the two

00:08:16.640 pictures there.

00:08:17.260 I'm curious.

00:08:18.400 Here's a story of a guy who's got a strong father, who was a card member of communism

00:08:22.340 because he had no choice, comes to the States, tells you there's no way in the world you

00:08:26.860 have, you're going to turn out to be nobody, wouldn't come here for you to be anybody.

00:08:29.900 That's that expectation.

00:08:30.680 You turn out to be who you are today.

00:08:32.400 I'm always fascinated by stories, right?

00:08:34.100 So for me, when I came out of the military, I wanted to be a bodybuilder, and then I hung out

00:08:39.760 with bodybuilders, I realized it's way too much on the body and on the logical side.

00:08:44.680 Six, three and a half, six, four bodybuilding today, you've got to be 330 to compete.

00:08:48.740 I don't want to carry 330 pounds on this body frame and go with that.

00:08:53.000 It's too much pressure on the heart.

00:08:54.080 So I made that decision, distinction.

00:08:55.440 I'm not going to go that route.

00:08:56.400 And then all of a sudden, I made a girl and got into the financial services.

00:08:59.580 That was purely accidental.

00:09:02.080 I was never going to sell stocks, bonds, and mutual funds.

00:09:04.880 So at this point, you're in your late 20s when you meet this girl?

00:09:07.000 21 years old.

00:09:07.800 I meet this girl at Venice Beach, California.

00:09:10.240 Bea, I think we were together, by the way, when I met her.

00:09:12.340 I met her at Venice Beach, California, and then she's working on Morgan Stanley.

00:09:15.820 We start going out.

00:09:16.580 She picks me up in a different car every time.

00:09:18.080 I said, how did you make your money?

00:09:19.560 She said, I work at Morgan Stanley.

00:09:20.900 What do you do?

00:09:21.940 I'm a stockbroker.

00:09:22.840 How did you get your job?

00:09:23.800 I got a degree from UCLA.

00:09:24.960 You need it.

00:09:25.300 They won't hire you.

00:09:26.380 And that's when I send the resumes out.

00:09:28.120 Back then, we used to send resumes out.

00:09:29.380 So my resume had Bob's Big Boy, Burger King, Haagen-Dazs, you know, Bally's, and military.

00:09:34.380 That was it.

00:09:35.360 So I sent a resume with a joke on a cover letter, and I told them, I said, listen, you know,

00:09:39.200 if you laugh after reading this joke, this is exactly how my customers are going to feel

00:09:42.760 doing business with me.

00:09:43.500 They're going to love me.

00:09:44.500 If you want somebody like this part of your team, give me a call.

00:09:47.180 So I sent 100 of them.

00:09:48.360 I got 30 calls, 15 interviews, three offers.

00:09:50.980 I took one of them with Morgan Stanley Glendale.

00:09:53.660 And so this industry of financial services was never intentional.

00:09:58.240 I've always been a math guy.

00:10:00.220 If I had it my way, I would have probably gone to entertainment.

00:10:02.900 That was my next question.

00:10:03.760 Yeah, so that's the part.

00:10:04.560 So I would have gone on that route, but...

00:10:06.080 Entertainment.

00:10:07.060 Entertainment.

00:10:07.600 As in managing or agency, or actually being in front of the camera.

00:10:11.220 As in front, behind, storytelling, directing.

00:10:14.920 You know, I'm the guy that for me, therapy is going to movies by myself at 10 o'clock in

00:10:20.340 the morning.

00:10:20.720 That explains a lot about that.

00:10:21.880 That's therapy.

00:10:22.500 Yeah.

00:10:22.620 So I go to movies, and I'm sitting by myself, and I'll see the movie like, somebody will come

00:10:26.960 back, and they'll say, you know, I am a legend.

00:10:29.140 What a terrible movie.

00:10:29.940 I said, you didn't see the movie.

00:10:31.180 He said, I'm telling you, I saw the movie.

00:10:32.080 I said, you did not see the movie.

00:10:33.060 He said, you got to go watch a movie with me.

00:10:34.340 Then you go watch a movie with me.

00:10:35.180 I said, look at this angle.

00:10:35.940 Boom, look at this.

00:10:36.440 You see what happened right there?

00:10:37.640 That's what this is explaining.

00:10:38.720 This part's about this.

00:10:39.940 Look at this.

00:10:40.400 I never caught...

00:10:40.980 Do you see that poster in the back?

00:10:41.920 That's what the poster...

00:10:42.820 The director's trying to tell you, look at that.

00:10:44.580 You missed it.

00:10:45.080 Look at this part.

00:10:46.460 Sometimes we don't catch those additional messages that we need to get, right?

00:10:49.420 The storytelling part.

00:10:50.860 I'm fascinated about that.

00:10:52.180 So I realized today, the world we're living in, if you don't tell the world who you are,

00:10:58.200 if you don't tell the camera of the world who you are, the world's going to tell the

00:11:00.820 world who you are.

00:11:02.420 So you have two choices.

00:11:03.800 So a lot of people that say, well, I'm a private guy.

00:11:05.900 No problem.

00:11:06.660 Stay private.

00:11:07.320 Let the world tell everybody who you are.

00:11:09.460 Or you can get in front of the camera and say, this is who I am.

00:11:11.800 So you're saying control the narrative.

00:11:13.340 You have to, because if you don't, no one really knows who you are.

00:11:17.460 See, I can watch a couple videos of you, and you pop up, and you comment on Instagram,

00:11:21.940 and I go up, and I say, let me see this guy.

00:11:23.520 And I say, wow, this guy communicates very well.

00:11:26.340 Petros, that's an Armenian name.

00:11:28.320 Is he Edamansi?

00:11:29.020 Is he Parska? 0.93

00:11:29.620 Is he Berutai?

00:11:30.260 What is this guy?

00:11:31.200 Where is he from?

00:11:32.080 How did you make his money?

00:11:33.140 And then now I come to a place.

00:11:34.140 I see this location that you have.

00:11:35.240 Beautiful, very detailed.

00:11:36.620 July 22nd, baby, you are.

00:11:38.300 So you're one of these perfectionist guys.

00:11:40.440 Structure, organized.

00:11:41.280 You've got everything situated.

00:11:43.160 So then I'm intrigued by you.

00:11:45.020 But say you don't do that.

00:11:46.280 I don't know who you are.

00:11:47.460 All I'm going to take is, those three people that I used to work with who didn't like you,

00:11:51.760 they'll say, you never want to work with Petros.

00:11:53.200 Let me tell you who he really is.

00:11:54.520 Then they have more influence than these guys.

00:11:57.440 Gotcha.

00:11:57.900 So you have to control the narrative.

00:11:59.640 That is a great lesson to take away here.

00:12:01.920 That's not a marketing lesson.

00:12:03.420 That's not just a life lesson.

00:12:04.900 That is an overall lesson in how to create your legacy.

00:12:07.600 Control the narrative.

00:12:08.380 So you were supposed to be, is there any aspiration in going into entertainment, film, still now?

00:12:16.880 Or are you so far into the financial world?

00:12:19.020 No.

00:12:19.220 I put life as 20, 20, 20.

00:12:21.120 Okay.

00:12:21.880 So here's what 20.

00:12:22.860 First 20 is just trying to figure life out and survive.

00:12:25.060 Right?

00:12:25.240 Like I have no idea what I want to do.

00:12:26.280 I have to make it out of 20 without committing a massive crime, going to prison, or doing anything dumb.

00:12:32.640 The big dumb mistakes you make in your first 20, I was lucky enough to graduate without making that.

00:12:37.460 Hey, what was your dumbest mistake in your first 20?

00:12:40.040 You tell me yours, I'll tell you mine.

00:12:41.140 I mean, it was, association was my biggest part because I was so fascinated with, you know, authority.

00:12:47.340 I had a hard time with authority, right?

00:12:48.620 So it was like, hey, you're telling me what to do, you know.

00:12:51.500 I'd get caught doing some stuff.

00:12:52.860 We're in Vegas one time, me and my four guys from Burbank 3, and we're driving down, and New York guys pulls up.

00:12:59.680 Hey, where are you from?

00:13:00.420 Where are you from?

00:13:00.860 New York.

00:13:01.500 And my dad and Albert are staying at the hotel.

00:13:04.180 These guys take out a gun.

00:13:05.340 We take out a gun.

00:13:06.160 We go at it.

00:13:07.240 We're running the streets.

00:13:08.240 Cops are chasing us.

00:13:08.860 Wait, wait, wait.

00:13:09.940 Guns actually shot?

00:13:11.180 Oh, I'm 14 years old.

00:13:12.700 Get the fuck out of here.

00:13:14.080 I'm 14 years old.

00:13:14.560 Are you serious?

00:13:15.260 No doubt about it.

00:13:16.280 So I run out that night, and I went up.

00:13:18.720 I'm shaking when I see my dad.

00:13:20.900 Cops are coming.

00:13:21.540 They catch us.

00:13:22.260 It's done.

00:13:22.560 You don't know who PBD is, because financial services fell on you.

00:13:25.360 I can't be in a financial services.

00:13:27.180 So I go upstairs to Tropicana.

00:13:28.820 I knock on the door.

00:13:29.680 My dad comes up.

00:13:30.200 Why are you shaking?

00:13:31.360 No, nothing, nothing.

00:13:32.240 So why are you so nervous?

00:13:33.020 What happened?

00:13:34.140 No, nothing happened.

00:13:35.540 Why are you sweating?

00:13:36.820 Why are you looking?

00:13:37.180 Come inside.

00:13:37.780 So I go inside.

00:13:38.840 We sit there.

00:13:39.760 We're just waiting.

00:13:40.760 They're going to knock on the door, and nothing happened.

00:13:43.280 Did you ever tell your dad?

00:13:44.180 Of course I told my dad.

00:13:46.080 That night or years later?

00:13:47.160 No, no, no.

00:13:47.740 Years later.

00:13:48.200 No way.

00:13:48.800 No, my dad and my mom had a divorce, and if he, you know, if this story got out that

00:13:54.280 under my dad's watch that I see him once every other week, this happened, I would never see

00:13:59.740 my best friend in the world, so I'm not throwing him under the bus.

00:14:03.100 There's no way in the world.

00:14:04.100 So mom's going to say, look what, you can't even control your 14-year-old kid who goes out.

00:14:07.480 So that's just one of many.

00:14:09.040 There's a lot of dumb stories.

00:14:10.120 What's yours?

00:14:10.660 Holy smokes.

00:14:11.300 Well, mine was, there was no guns involved, but I was part of a home invasion robbery,

00:14:16.540 and I was the getaway driver.

00:14:18.520 I was the getaway driver.

00:14:19.580 So three of my friends enter a home that they think is empty.

00:14:22.320 Turns out the little old lady is there, and so instead of just a rob and dash, it ends

00:14:26.900 up in home invasion, is what the cops call it, because, well, the lady sees them, they 1.00

00:14:30.740 come running out, and I'm thinking, did you guys get everything that quick?

00:14:34.320 Drive!

00:14:34.640 And I drive, and I see a helicopter, so it's a police helicopter chase, Brookhurst and La

00:14:38.940 Palma is where I end up getting, you know, unmarked cars, police helicopter, pull over.

00:14:43.880 All right, fellas, run. 0.90

00:14:44.680 As soon as we get out of the car, no one's running.

00:14:46.040 I mean, we just dogpile us.

00:14:47.800 And I had a boot on the back of my neck.

00:14:49.400 They bring the little old lady.

00:14:51.680 She's inside of a parked police car.

00:14:53.480 We're sitting on the hood of a car, the four of us, those three guys who were in the house

00:14:56.840 and me, the driver.

00:14:58.560 And she points out, yes, I saw his face, his face, his face, but she couldn't ID me because

00:15:03.580 I was the driver.

00:15:04.180 Wow.

00:15:04.500 I was never in the house.

00:15:05.560 That was a turning corner for me that I will never break the law again.

00:15:08.600 How old were you at that time?

00:15:10.700 18.

00:15:11.160 I just turned 18.

00:15:12.100 Wow.

00:15:12.300 Yeah.

00:15:12.580 So that could have been something very permanent.

00:15:14.080 Like, it's not a minor anymore.

00:15:14.980 Now I'm an adult, right?

00:15:16.020 So that could have been a very permanent scar on me.

00:15:17.920 So I'm very grateful that that never went further.

00:15:20.200 Well, if the old lady's watching, thank you so much for doing that.

00:15:22.740 He's created a lot of jobs just so you know.

00:15:24.160 The economy's doing better because of this man here.

00:15:26.400 Yeah.

00:15:26.680 If I could go back, I would apologize.

00:15:28.820 I'm sure she's long gone by now.

00:15:30.060 God bless her. 1.00

00:15:30.520 So, all right.

00:15:31.440 So there you are now through the grace of this young woman that you're dating and who

00:15:37.460 shows up with many different cars.

00:15:39.120 Were you impressed by the cars, by the money?

00:15:41.060 What was money to you?

00:15:41.880 Because obviously you're like, whoa.

00:15:42.980 Okay.

00:15:43.160 She's making money. 1.00

00:15:44.020 Money is a vehicle to what for you?

00:15:46.080 Yeah.

00:15:46.320 So, again, we're in Glendale.

00:15:48.260 You and I went to junior high school together.

00:15:49.880 I went to Wilson Junior High School and then Glendale High School.

00:15:52.440 So from Wilson Junior High, we would drive down Verdugo.

00:15:55.460 Okay.

00:15:55.720 And it was under the bridge.

00:15:56.800 We would drive down.

00:15:57.960 We would walk down all the way down.

00:15:59.620 And I lived on Broadway and Verdugo right across from, there's a, you know, post office

00:16:04.780 here.

00:16:05.080 Glendale High School is here.

00:16:05.940 I'm right here.

00:16:06.420 Broadway.

00:16:07.020 Okay.

00:16:08.320 1323 Broadway is where I live.

00:16:10.900 That drive, I had a friend named Adrian.

00:16:13.460 He would tell me, okay, Pat, tell me a story today.

00:16:15.480 So I'd say, listen, would you rather be a millionaire?

00:16:18.300 The best, you know, the richest man in the world, the best baseball player in the world,

00:16:21.760 the biggest rock star, the best Hollywood actor, which one would you want to be?

00:16:25.400 And we would talk about it, right?

00:16:26.760 These kind of, oh my gosh, if I'm baseball, I got that time Barry Bonds.

00:16:29.860 Maybe I'm a McGuire.

00:16:31.360 You know, what if I'm Brad Pitt?

00:16:33.240 What if I'm Warren Buffett or Bill Gates?

00:16:35.240 Or what if I'm, you know, the rock star performing, 100,000?

00:16:37.920 Who would you want to be, right?

00:16:38.800 So to me, it was all about the dream.

00:16:41.900 You know, when you, that song goes, it was all a dream.

00:16:44.140 I used to read What Up Magazine.

00:16:45.460 I mean, it literally was all about the dream, okay?

00:16:48.960 Parents get a divorce.

00:16:50.440 I had one uncle who lived on upland off of San Antonio.

00:16:53.580 I don't know if you know that area, like Snoop has a house up there.

00:16:56.540 So we'd go to his house once a year.

00:16:58.920 And every time I'd go to his house, it was a 7,200 square foot house.

00:17:01.820 You'd go in.

00:17:02.920 He always had a Jaguar.

00:17:03.940 He was a Jaguar guy.

00:17:04.840 You know, he had a bird collection here.

00:17:08.380 Pudding here.

00:17:09.640 You'd go in.

00:17:10.800 Like a pudding green?

00:17:11.560 Pudding green, yeah, to the right.

00:17:13.500 Kitchen where they would always hang out together and make breakfast.

00:17:16.340 His office was here one time.

00:17:17.620 He took me to his bedroom.

00:17:18.640 You'd go up the stairs.

00:17:19.440 There was a Jacuzzi up there for he and his wife.

00:17:21.480 Then the living room was right here.

00:17:22.940 He had a pool table with a picture of Al Gore.

00:17:24.900 Obviously, he was on the left politically.

00:17:27.680 And every time I was there, he would sit and his kids would come.

00:17:30.640 And they would debate.

00:17:31.760 And he would say, he's a Christian guy.

00:17:32.940 He would say, let me tell you, I saw an argument the other day.

00:17:35.040 I want to hear what you guys are going to say.

00:17:36.480 Here's an argument.

00:17:37.720 God doesn't exist because of dot, dot, dot, dot, dot, dot, dot.

00:17:39.900 If he did this, blah, blah, blah, blah, blah.

00:17:41.120 If God is predetermined and everything God knows what's going to happen next,

00:17:44.520 then why do we make bad decisions?

00:17:46.240 Maybe I didn't make the bad decision.

00:17:47.400 Maybe God made the bad decision.

00:17:48.300 And I would see this guy just asking all these questions.

00:17:50.260 His kids, Dad, you don't know what you're talking about.

00:17:52.220 That argument is this.

00:17:53.560 So tell me about the sports team that way.

00:17:54.920 Why did this happen?

00:17:55.620 This man named Luther Lazar, in backyard, tennis court, swimming pool, changing room,

00:18:02.240 flowers, watermelon.

00:18:03.760 He would, you know, plant stuff.

00:18:05.380 And I would see him walk around.

00:18:06.480 His kids, grandkids, love them, family.

00:18:08.180 They were all together.

00:18:10.140 That was the only element of dream I had in my life.

00:18:13.620 The only thing.

00:18:14.660 The only glimpse that I said, what if, right?

00:18:16.360 So for me, when I saw this girl and I said, look, anything to get out.

00:18:22.280 Bodybuilding, there's not a lot of money.

00:18:23.480 I was working at Ballet Total Fitness.

00:18:25.020 I heard you briefly say LA Fitness.

00:18:27.140 I don't know if you ever did anything with Ballets and Anaheim.

00:18:29.940 But Ballet Total Fitness, so for me, that was the way I got into it.

00:18:34.100 And if this was my route, I always like math.

00:18:36.840 And I said, if I can get in and they give me an opportunity, I'm going to make it work.

00:18:39.920 So that's kind of how it happened.

00:18:41.960 Holy smokes.

00:18:42.940 Moving forward then.

00:18:43.840 So you decide, all right, I'm going to go.

00:18:44.980 Was it Morgan Stanley?

00:18:45.920 Morgan Stanley.

00:18:46.460 Morgan Stanley.

00:18:47.520 How do you cut your teeth?

00:18:48.920 Because from what I've heard, and you tell me if I'm right, you don't even start selling until months later.

00:18:53.840 Is that true?

00:18:54.700 In an organization like that?

00:18:55.940 Yeah.

00:18:56.220 So it depends on how you get recruited.

00:18:57.980 If you get recruited on intern, you're not selling for three years.

00:19:00.980 So you're going in.

00:19:01.780 You're not even taking your Series 7 for three years later.

00:19:04.660 Right?

00:19:04.960 You go in.

00:19:05.880 I work under you.

00:19:07.680 I do assistant stuff for you.

00:19:10.000 Then three years later, you give me the green light.

00:19:11.920 Then I go take my 7 after I got my bachelor's degree from whoever.

00:19:15.580 Right?

00:19:15.860 And I kind of work it that way.

00:19:16.980 I got a position.

00:19:18.180 That's what they did.

00:19:19.320 They gave me a position.

00:19:20.500 Okay?

00:19:21.360 And so when I got the position, day one, they submitted my U4.

00:19:24.840 U4 is what you submit to take your Series 7 exam.

00:19:27.140 I took my 766.

00:19:28.420 If you fail your Series 7 the first time, you're done.

00:19:32.140 One shot.

00:19:33.160 You fail it first time.

00:19:34.040 So I got started with Morgan Stanley Dean Witter a day before 9-11.

00:19:37.940 2001.

00:19:38.780 Monday.

00:19:39.540 The next day, 9-11 happens.

00:19:41.680 3,700 employees at Morgan Stanley Dean Witter World Trade Center is gone.

00:19:44.820 Oof.

00:19:45.340 So our training went from World Trade Center to Mark Hopkins, San Francisco.

00:19:50.540 Complete different side.

00:19:52.060 But, yeah, so that's how you get your 7.

00:19:53.740 If you fail it, you're out.

00:19:55.140 You're gone.

00:19:56.000 And then at that time, Morgan had a minimum of $12 million you need to bring in your first year.

00:20:01.120 You don't bring 12 mil.

00:20:02.420 You go on probation.

00:20:03.440 Then you're out.

00:20:04.220 Gotcha.

00:20:05.100 All right.

00:20:05.400 So at some point, you decide, hey, I don't think I'm going to work for someone.

00:20:08.080 I'm going to beat my own path.

00:20:10.200 Why do you even decide to do this?

00:20:12.220 It sounds like you were making, doing pretty well.

00:20:14.460 At Morgan, no.

00:20:15.360 I didn't get a taste of money at Morgan.

00:20:17.240 I got a little bit of taste of money prior to Morgan making 10 or 20 grand in a month one time.

00:20:21.560 But never really like a taste, taste of money.

00:20:23.960 And so from Morgan, at that time, my girlfriend at the time was an assistant to a guy who owned a windows company, a guy named Aaron.

00:20:31.880 And he was a guy I always admired.

00:20:33.160 He was a New York guy that flew him from New York, came to L.A., but he made his money in New York.

00:20:36.960 Rough around the edges, 5'3", on a good day.

00:20:39.860 Perfect nails, flawless eyebrows, like plucked, like I'm talking like perfection, like, you know, the ones that you do.

00:20:47.180 He would just come in and the way he would walk, he'd be very particular about shaking people's hands.

00:20:51.140 One of those guys.

00:20:52.020 Just trying to visualize this guy here.

00:20:53.440 Yeah, yeah.

00:20:53.700 That's who he was.

00:20:54.660 But he was very good in business.

00:20:55.800 He's such a good storyteller.

00:20:56.920 So I'm sitting with him, and I said, hey, you know, I would tell my girlfriend, you've got to give me one-on-one time with him.

00:21:03.500 So I go sit with him.

00:21:04.420 He says, listen, your girlfriend keeps telling me you're going to be a millionaire one day.

00:21:06.940 I said, yeah.

00:21:07.440 I said, look at this business card.

00:21:08.440 I'd like to earn your business.

00:21:09.660 I give my business card.

00:21:10.560 Morgan, Stanley, Dean Witter.

00:21:12.020 I said, I'm working with the best.

00:21:13.320 He says, really?

00:21:14.120 He said, yes.

00:21:15.320 I said, yes.

00:21:15.900 So I sit down.

00:21:16.660 He starts laughing at me.

00:21:18.120 I said, why are you laughing?

00:21:19.140 He says, rule number one of creating wealth.

00:21:20.940 I said, what's that?

00:21:22.320 Never, ever work for a sexy, established company.

00:21:25.880 Never.

00:21:26.520 I said, why?

00:21:27.700 He said, if you work for a sexy, established company, no one knows you.

00:21:31.180 If you quit, you get fired, you're just another employee ID.

00:21:34.600 Go to a company.

00:21:35.780 Help it become sexy, established.

00:21:37.980 Be a leader.

00:21:38.900 Own a piece.

00:21:39.720 You'll become wealthy.

00:21:40.720 I left.

00:21:42.000 Went to another company, Transamerica.

00:21:44.320 I was there with him for about seven and a half years.

00:21:45.980 And then October 20th of 2009, just said, we're going to leave and start a PHP agency.

00:21:51.680 No kidding.

00:21:52.260 Yeah, started a company.

00:21:53.000 So PHP started in 2009.

00:21:54.780 October of 2009.

00:21:55.720 September 23rd, I resigned.

00:21:57.700 October 20th, we became official.

00:22:00.140 October 28th, the company I was a part of filed a lawsuit, 400-page lawsuit.

00:22:05.000 It's a $400 billion company.

00:22:06.280 They sued us.

00:22:06.780 It's the only time I've ever been sued in my life.

00:22:08.880 Filed a lawsuit.

00:22:09.520 And that, I went from having some savings that I saved in my 20s, depleted all the way

00:22:15.200 down to $13,000, and no one knew about it.

00:22:17.820 Wow.

00:22:18.100 I was playing poker, acting as if I got a million behind me.

00:22:20.820 I only had $13,000.

00:22:22.280 Okay.

00:22:22.740 Never missed payroll, never missed commission, never missed anything.

00:22:25.380 And it was a very dirty, this is part of the mafia thing that came in.

00:22:29.240 I was the guy that was a nice, naive guy coming up, and it was cool.

00:22:35.820 Now, obviously, I saw a lot of stuff in the streets, but I was optimistic about everybody

00:22:39.160 is going to want to try to do good to you.

00:22:41.120 And then you get into business, and you see a different side.

00:22:43.880 And then you become a competitor.

00:22:45.280 A lot of people that were friends, all of a sudden, they're looking at you as an enemy.

00:22:48.680 So you see a different part of the game.

00:22:50.720 So that, that, that...

00:22:51.400 How do you feel about that?

00:22:52.260 When people you came up with then see you as the enemy?

00:22:55.320 I'm very comfortable with that.

00:22:56.960 Look, my parents got a divorce.

00:22:59.120 Boghossian, Bedavid, okay? 0.99

00:23:01.620 Boghossians were Armenians, Bedavids were Assyrians, right? 0.98

00:23:04.360 Boghossians believed in communism.

00:23:05.820 Bedavids believed in imperialism, okay? 0.99

00:23:07.820 Now, you got to realize that, by the way, they believed in communism.

00:23:10.560 So they were not card members because they had to.

00:23:14.040 They were card members because they chose to, okay?

00:23:17.000 So in Iran, there was a group called Today.

00:23:19.060 And Today was like the communistic, you know, underground project in Iran.

00:23:23.280 So when my parents got a divorce, if I hung out with my dad's family,

00:23:27.500 his brothers would say, look at him.

00:23:29.960 You know, he's a Boghossian.

00:23:31.200 He's Armenian.

00:23:31.820 He wants to hang out with them.

00:23:32.780 And those sarcastic comments, right?

00:23:35.040 I've never liked them.

00:23:36.420 And when I was with the Boghossian family, they would say, look at him.

00:23:39.840 He's like his dad.

00:23:40.480 He likes Assyrian.

00:23:41.840 Look what he's doing.

00:23:42.640 He's trying to be like his dad.

00:23:43.600 He's this.

00:23:43.880 So they would both say, so I was eight, nine years old.

00:23:46.600 I sat my uncles down and I sat my mother's family down.

00:23:49.320 I said, let me explain to you something very simple here.

00:23:51.260 There's only three people in my life that matter.

00:23:53.640 My mom, my dad, my sister.

00:23:55.580 You don't matter to me.

00:23:57.040 I am simply good to you because you're my father's brothers.

00:24:01.280 Outside of that, you're irrelevant to me.

00:24:03.760 You're saying this at the age of eight or nine?

00:24:05.660 Eight or nine years old to my family.

00:24:06.880 How do you even have the wherewithal, the emotional wherewithal to say this to an adult?

00:24:12.140 And in that culture, because that's the culture I come from, you're supposed to look up to them.

00:24:16.000 And I do.

00:24:16.780 I love them.

00:24:17.220 You have to realize that these people are very good to me.

00:24:20.000 I mean, my mother's brother is who brought caviar to me.

00:24:23.740 He'd come at two o'clock in the morning at the party and he'd wake me up.

00:24:26.460 We'd sit there.

00:24:27.380 Hey, don't tell your mom I'm doing this.

00:24:28.780 Let's wake up.

00:24:29.320 We'd eat spoons of caviar together in Bandar Palavi, which is, you know, Caspian C.

00:24:33.560 It's the best kind of caviar.

00:24:34.580 And Johnny and these guys over here, Victor, they were very good to me.

00:24:39.660 They were nice to me.

00:24:40.240 But they played the game of pinning.

00:24:42.280 They played the game of pinning.

00:24:43.480 And I'm not a fan of that.

00:24:44.540 I'm not a fan of that.

00:24:45.420 Because I am here because I am Armenian proudly and I am Assyrian proudly.

00:24:51.600 I'm Armenian and Assyrian, born in Iran and American.

00:24:54.420 I'm proud to be Iranian, Armenian, Assyrian, and American.

00:24:58.440 That's this blood.

00:24:59.640 That's this product.

00:25:00.860 All of it's combined into being what it is.

00:25:02.560 So I was used to that manipulative games when my parents got a divorce.

00:25:05.600 And so when it happened, it was just purely flashbacks.

00:25:08.940 I get it.

00:25:09.760 I fully understand.

00:25:10.680 But here's what I also know.

00:25:12.100 You can think whatever you want right now.

00:25:14.240 In the next 10 years, you're going to love to be friends with me.

00:25:16.820 And you will call me.

00:25:17.960 I won't call you.

00:25:18.620 And it's exactly what happened.

00:25:20.340 So the level of patience to say to yourself, if I'm staying true on the way I treat you,

00:25:26.440 your family, peers, people call me, ask about competitors.

00:25:29.560 If I stay true to my game and everybody knows I'm predictable in the way I speak about everybody

00:25:34.560 in the marketplace, eventually people are going to know who you really are.

00:25:37.920 Your true color is eventually going to come out.

00:25:39.660 Amen.

00:25:40.460 Would you say you had a chip on your shoulder, Pat?

00:25:42.620 Till today.

00:25:43.620 Oh, yeah.

00:25:44.300 Till today.

00:25:44.620 I try to fix it so it doesn't come out every once in a while.

00:25:46.940 But it still comes out.

00:25:48.360 And there's a lot of it.

00:25:49.220 You know, it's...

00:25:49.880 What do you say to people who say, you know, hey, do something about that.

00:25:52.180 You're successful now.

00:25:53.100 You don't have to have that chip.

00:25:53.700 I don't mind it at all.

00:25:54.680 Do you want it there?

00:25:55.260 I am very comfortable at being there.

00:25:57.420 Matter of fact, listen, I got three kids.

00:25:59.620 I got a six-year-old, five-year-old, two-year-old, right?

00:26:02.240 I don't mind my kids having a little bit of a chip.

00:26:05.180 So my raising up my kids isn't the environment of don't fight in front of your kids,

00:26:11.420 don't show conflict in front of your kids, let them not see.

00:26:14.100 I don't come from that school of thought.

00:26:15.440 I don't.

00:26:16.220 I come from the school of thought that they have to see.

00:26:19.220 Now they're living with a father who's got a lot of money, successful, whatever.

00:26:23.160 You know, you're always going to nice places.

00:26:25.060 Everybody's always wanting to take care of you because your daddy's this.

00:26:27.700 And, you know, but let's just say Mario is tough on my son.

00:26:30.300 I will never go to Mario.

00:26:31.300 He says, Mario, don't talk to my son like that at all.

00:26:33.120 If my son acts up with you and you try to discipline him, say we're friends, you will never hear it from me.

00:26:39.980 I don't know if that makes sense.

00:26:41.040 Like, it's not going to come, hey, Petros, don't talk to my son like that.

00:26:43.180 It does.

00:26:43.640 That won't happen.

00:26:44.420 You believe in the tribe.

00:26:45.300 He needs it, right?

00:26:46.240 He needs that to push him a little bit.

00:26:48.200 So, you know, I tried to find a way, like yesterday.

00:26:51.160 I'll tell you what happened.

00:26:51.760 I almost missed my flight to come to you, by the way, yesterday.

00:26:55.300 And I'll tell you why.

00:26:56.420 So yesterday, we, I fly in.

00:27:00.300 We were out doing a major project.

00:27:01.720 Like, we were blowing stuff up, like with tanks, with blow, what was that thing called?

00:27:07.060 Flamethrower.

00:27:07.660 We were doing all this crazy.

00:27:08.780 I mean, we were doing, you know, Sherman tanks and shooting up drones.

00:27:13.760 Where was this?

00:27:14.380 This was in Texas.

00:27:15.580 Someone we found.

00:27:16.500 Literally.

00:27:17.080 We're dealing with a guy that's an 18 Charlie guy. 1.00

00:27:19.020 You got to go to this place.

00:27:20.380 DriveTanks.com.

00:27:21.940 Insane.

00:27:22.480 Okay?

00:27:22.940 Insane.

00:27:23.580 You would love this place.

00:27:25.920 So we come back.

00:27:27.080 Haven't had a lot of sleep, but it's Sunday.

00:27:28.300 I got to spend time with these kids.

00:27:29.620 I spend time with them.

00:27:30.780 We go out.

00:27:31.960 We go to church.

00:27:33.020 Then we go to yard house.

00:27:34.500 Then we go to the house.

00:27:35.160 Then we go get a haircut to the two boys, which they like to get the haircut and the massage

00:27:38.540 the whole night.

00:27:39.060 So then we go to their school.

00:27:41.000 They had a trick or treat.

00:27:41.800 They're dressed as the Incredibles.

00:27:42.960 Right?

00:27:43.500 So he's running on all this other stuff.

00:27:45.220 And then my oldest, every time he gets upset, he says, no one loves me.

00:27:49.180 And he just wants to, you know, have this idea.

00:27:52.560 And he wrote this nice letter to his friend Lennox.

00:27:56.080 Okay?

00:27:56.900 And he gets into the house.

00:27:58.240 You're not giving this to me.

00:27:59.380 You're not a good daddy.

00:28:00.320 You're not this.

00:28:01.200 He rips the letter that he drew to his best friend and he trashes it.

00:28:04.700 He said, I don't want anybody, my love.

00:28:05.980 I said, go grab that thing right now. 0.85

00:28:07.580 Go grab it right now.

00:28:08.360 Sit down.

00:28:08.820 I said, let me explain something to you.

00:28:10.800 Look at me.

00:28:11.420 Look at me right here.

00:28:11.960 I don't want you to get distracted.

00:28:13.100 Look at me.

00:28:13.920 I said, number one.

00:28:15.120 Rule number one.

00:28:16.280 Do you love Lennox?

00:28:17.060 Yes.

00:28:17.240 Is he a good friend of yours?

00:28:18.200 Yes.

00:28:18.880 Who made you mad today?

00:28:20.020 Me.

00:28:20.600 It's not my fault.

00:28:21.300 It's your fault that he got upset with me.

00:28:22.520 But what does that have to do with Lennox?

00:28:24.280 Here's a sheet of paper.

00:28:25.140 I need you to sit down right here.

00:28:26.920 The moment that you drew that thing and wrote that letter for Lennox, you need to still share that emotion

00:28:31.380 with him.

00:28:31.980 Draw it down right now.

00:28:33.300 You're not taking a shower.

00:28:34.400 He drew it again.

00:28:35.100 I said, you're going to go give this thing to him.

00:28:36.780 Because you cannot hold back an emotion like that to somebody you love just because somebody else pissed you off.

00:28:41.920 So I said, does that make sense to you?

00:28:43.280 Yes, daddy.

00:28:43.980 Draw it down.

00:28:44.900 He draws it down.

00:28:45.520 I said, who loves you?

00:28:46.460 You love me, daddy.

00:28:47.420 Perfect.

00:28:48.040 It's going to be okay.

00:28:48.960 But you can't cop out on situations like this.

00:28:51.480 So we go at it.

00:28:53.260 That friction is going to be there.

00:28:54.580 And that's a six-year-old.

00:28:55.440 It's a six-year-old.

00:28:56.320 But he has to get that because you and I have the luxury of seeing a lot more terrible things when we were growing up.

00:29:01.900 They don't have that luxury.

00:29:03.220 We almost have to create it for them.

00:29:04.820 Why do you think that's a luxury that we had, the hardships?

00:29:06.960 You know, I was in the Army.

00:29:09.640 I get out of the Army.

00:29:10.340 People ask me, what's the biggest difference when you were in the Army and you got out?

00:29:13.760 You have a different lens.

00:29:15.320 I can't describe it.

00:29:16.360 Like, listen, a blind person cannot see what somebody with, you know, vision can see, right?

00:29:23.400 At the same time, Richard Turner, whom I interviewed, who's the number one card mechanic in the world,

00:29:28.080 who's been blind since he was nine years old because one day he's in school, he's reading a book, he can't see anything here.

00:29:33.040 The only thing he can see is here.

00:29:34.860 And this guy, all of a sudden, is fully blind.

00:29:36.380 He becomes the number one card mechanic in the world.

00:29:38.880 I said, what do you have that I don't have?

00:29:41.560 He says, I feel everything you're doing.

00:29:44.360 I feel the movements.

00:29:45.920 I feel your eyebrows.

00:29:47.540 I feel everything that's moving.

00:29:48.760 I feel that left hand you just moved right now.

00:29:51.020 I feel that guy over there just moved.

00:29:52.920 I feel he just picked up his leg.

00:29:54.220 His pants just did this. 0.99

00:29:55.800 The camera guy just put his arm down.

00:29:57.360 That guy just did this.

00:29:58.480 You don't have that luxury.

00:29:59.940 You and I will never have that, right?

00:30:01.780 We are never going to have that.

00:30:02.820 The only reason he has that, that's 20 years of experience of being blind.

00:30:06.380 We have a certain experience of hell.

00:30:09.040 When you experience hell, things slow down.

00:30:12.100 You just kind of look around and everything's slow.

00:30:13.780 It's okay.

00:30:14.480 It's okay.

00:30:15.120 We're going to figure it out.

00:30:16.060 It's going to be all right.

00:30:16.740 That's not that big of a deal.

00:30:18.220 It just happened.

00:30:19.140 Game.

00:30:19.720 Relax.

00:30:20.320 Come back.

00:30:20.800 Let's strategize.

00:30:22.120 Everything becomes slower.

00:30:23.760 When you have experienced a lot of tragedy.

00:30:25.800 Right?

00:30:26.020 Everything.

00:30:27.020 And that ship allows you to say, I don't know why we're afraid of this.

00:30:30.060 Not a big deal.

00:30:31.020 This person's not that intimidating.

00:30:32.320 It's okay.

00:30:32.960 We don't need to be afraid of this.

00:30:34.060 Guys, we're going to be able to overcome this.

00:30:35.920 It brings a certain level of poise, confidence to the crew that you're running with.

00:30:40.160 You cannot go to a conference and gain that.

00:30:43.220 You can only gain that from being in hell and back.

00:30:46.780 And so if you haven't had that, you've got to almost put yourself in certain situations

00:30:50.700 to experience hell.

00:30:52.140 If you don't put yourself in those situations, no conference in the world is ever going to

00:30:56.180 give that to you.

00:30:57.060 Fascinating.

00:30:57.520 Not at all.

00:30:58.580 Fascinating.

00:30:59.160 So who's your favorite personality that you've had on value payment that you've interviewed?

00:31:04.800 Who's your favorite personality?

00:31:06.000 Well, first of all, Michael and I are very good friends now.

00:31:08.480 I invested into a business with he and I.

00:31:10.840 Because of the show, he ended up getting a massive show in Vegas, which if you haven't

00:31:16.260 seen Mob Story, if you go to Vegas, you've got to watch Mob Story.

00:31:19.500 He tells the story of Mob Story.

00:31:21.140 He tells a story about Hoffa, about Marilyn Monroe, how Marilyn Monroe really died and

00:31:25.600 who was behind it.

00:31:26.900 He says Hoffa is underwater.

00:31:29.120 I know he is.

00:31:30.040 Do you believe this?

00:31:30.700 Well, I mean, listen, I do believe the part that the mob had something to do with Kennedy

00:31:35.640 because I've asked that from a lot of different people and they have said yes.

00:31:38.400 Because when he became president, the mob helped him a lot.

00:31:42.520 Helped him a lot.

00:31:43.120 And you know, in Chicago, I interviewed Abraham Bolden, who was the first African-American

00:31:47.300 Secret Service agent.

00:31:48.280 He specifically said that 7,000 people in Chicago who voted for Kennedy were all dead.

00:31:55.200 They were not alive.

00:31:55.880 These are dead people that voted for him.

00:31:57.380 So there was a lot of that stuff that happened that the mob helped out.

00:32:00.240 I'd say Michael Francis is entertaining.

00:32:03.000 Gloria Allred was very tough.

00:32:05.280 I respect somebody that's gone through hell and back and for her to be a firm believer,

00:32:09.680 even though we agree.

00:32:10.520 How's the interviewer?

00:32:11.120 She's a tough person.

00:32:11.900 She's a tough person.

00:32:12.740 Got it.

00:32:13.140 80% of the stuff we disagree with.

00:32:14.860 But, you know, you can't explain what she went through in 1984 when she got raped in

00:32:20.000 Mexico.

00:32:21.200 From there, she decides to come out and become who she is.

00:32:23.960 You are never going to change a person's mind like that.

00:32:26.080 That's a life experience.

00:32:27.300 That is not going to change.

00:32:28.760 But Jordan Peterson was very entertaining.

00:32:31.040 I can't really pick one or two.

00:32:33.160 Truly, I enjoy every one of these things.

00:32:35.040 The ones that I like the most, you will know which ones I don't like if they're only less,

00:32:39.240 if it's less than 40 minutes, I was really not enjoying myself.

00:32:42.800 Gotcha.

00:32:43.220 So look at anything below 40, and I'm saying it.

00:32:46.020 There are some interviews I do.

00:32:47.420 I just went in there, Petros.

00:32:48.720 These are arrogant, cocky, out of control.

00:32:52.860 I'm like, here's Kevin Hart.

00:32:54.140 The guy's got 150 million people.

00:32:56.460 He has to be cocky, and he's not.

00:32:58.440 And you're cocky for what?

00:32:59.540 What are you being cocky for?

00:33:01.240 Relax yourself.

00:33:02.220 You know, you did something that's big, but it's not that, you know, so you can't pull

00:33:06.300 information and want to talk to them.

00:33:07.860 They're too much above everybody.

00:33:09.860 But yeah, if any interviews below 40, I didn't enjoy it.

00:33:12.040 Any interview above an hour, I'm pretty much enjoying myself.

00:33:15.040 Interesting.

00:33:15.900 So in 2009, you build PHP.

00:33:19.260 And this is an agency where it's financial services.

00:33:23.760 Is it mainly financial services?

00:33:24.860 Insurance and annuities.

00:33:25.900 Insurance and annuities.

00:33:27.480 How many employees do you have now?

00:33:29.340 So we have 8,200 insurance agents in 49 states.

00:33:33.040 We started off with 66.

00:33:34.900 So 66 agents is now 8,200 in 49 states.

00:33:39.840 Okay.

00:33:40.060 In nine years.

00:33:41.020 In nine years.

00:33:41.780 De La Hoya is one of our investors.

00:33:43.080 I cut a check to De La Hoya every month.

00:33:45.280 Gabriel Brenner is an investor who's the first Mexican-born professional sports owner in America

00:33:49.660 and Adelaia Fund out of New York, which is a $2 billion fund.

00:33:52.020 We have 60 employees that support 8,200 agents.

00:33:57.500 62 employees.

00:33:58.800 62 employees support 8,200 agents.

00:34:02.040 Gotcha.

00:34:02.920 Gotcha.

00:34:03.580 In 49 states.

00:34:04.580 49 states.

00:34:05.300 In 49 states.

00:34:06.140 How often do you get a big group of these agents together to pump them up, motivate them, give them clarity on vision?

00:34:12.320 So it used to be more before than now because if you think I tell the story, well, you have to hear them tell the story.

00:34:19.780 I mean, you would think these guys are the founders of the company when you hear them tell the story.

00:34:24.660 I mean, I'm talking tears coming down.

00:34:27.060 They're tugging at your heart.

00:34:28.760 And, you know, they're incredible at what they're doing.

00:34:31.200 So now it's more, I go out when needed, but for the most part, our guys are doing it.

00:34:36.340 We do do one big conference every year, which we did in August.

00:34:39.900 Is that the one you had Kevin Hart at?

00:34:41.080 That's the one I had Kevin Hart at.

00:34:42.080 We had 5,000 people there in attendance.

00:34:44.100 It was wild.

00:34:44.820 I mean, it was, listen, it was absolutely as untraditional as a conference in the financial industry as it could be.

00:34:52.040 Because Kevin Hart said the F word maybe 200 times.

00:34:56.020 And our carriers are not used to this because it's a lot of good old boy, you know.

00:35:00.320 I went to the right school.

00:35:01.880 I have the right last name.

00:35:03.000 I went up the right way.

00:35:04.200 And so, oh, my gosh, look what he's saying.

00:35:06.000 You know, our average agent is a 34-year-old Hispanic female. 1.00

00:35:10.180 We're 51% women, 54% Hispanic.

00:35:14.020 Average agent is 34 years old.

00:35:16.860 I'm curious, was this by structure or is this just how it turned out?

00:35:20.660 The age, the gender, the ethnicity.

00:35:24.360 Yeah, so I like immigrants who are hard workers.

00:35:27.460 That's what I like.

00:35:28.300 I like immigrants who are hard workers.

00:35:29.660 Oh, you're an immigrant who's a hard worker.

00:35:30.840 So that's what I like.

00:35:31.500 I like an underdog.

00:35:32.780 To be like, you and I would get along very well because you know what it is to pay the price.

00:35:36.600 Then no one has to explain to you what time to get up, what time to work.

00:35:39.140 You're going to get to work, right?

00:35:40.360 That's what I like.

00:35:41.100 And then when it comes down to support team, I recruit April babies. 1.00

00:35:45.260 My favorite kind are April babies.

00:35:47.720 October babies, if they deal with people.

00:35:49.840 February babies, I love those three.

00:35:53.200 When it comes down to support, when it comes down to feel.

00:35:56.140 Patrick, I've got to stop you.

00:35:57.240 I've never heard anyone stand right there.

00:35:59.180 We've had some amazing people there from Tom Bilyeu to Jesse Itzler to using astrology

00:36:07.000 to decide who's going into support and service.

00:36:12.000 Explain this to me.

00:36:12.740 So because I ask so many questions, I'm a numbers guy.

00:36:16.680 It stays with me.

00:36:17.540 So you say July 22nd, and my brain, I go and say, who's in July?

00:36:20.660 Who's in July?

00:36:21.240 Who's in July?

00:36:21.780 And then I go, boom, boom, boom, boom, boom, boom, boom, boom, boom.

00:36:23.840 What is the level of consistency for 70% of them?

00:36:26.360 Boom, boom, boom.

00:36:26.820 Okay, got it.

00:36:27.880 Let me ask him a question.

00:36:28.960 Are you like this, this, this, this, this?

00:36:30.560 Yes.

00:36:30.980 Okay, validation.

00:36:31.720 So he's part of that community.

00:36:33.560 You guys are wiring is a certain way.

00:36:35.120 Now, by the way, for me, it's more months than it is astrology.

00:36:38.400 So a lot of astrology, people don't like it when I say that because it's more months than

00:36:42.080 I'm about, you know, July 22nd.

00:36:43.520 I must, I've missed it by one day, you know, I've, you know, so that part.

00:36:47.000 So then for field, for field, like running the agency, I like June, I like July.

00:36:53.600 I'm very comfortable when June and July, when they deal with sales organization, but that's,

00:36:57.300 you know, those, now you got to realize, of course there's an anomaly.

00:37:00.020 I'm just telling you stuff that I see that for me, it's like, okay, I'm comfortable with

00:37:03.760 this.

00:37:04.100 So October, February, April, home office, June, July, dealing with the field.

00:37:09.640 Fascinating.

00:37:10.260 So you're, you're quite the leader.

00:37:11.680 You're quite the empire builder.

00:37:12.780 And in such a short time, nine years is a very short run.

00:37:14.940 And it's ironic that you did it in such a short time.

00:37:17.740 So the economy crashes and you decide that you're going to go into business and get sued

00:37:21.980 at the same time.

00:37:22.800 I mean, you didn't decide to get sued, but that was an outcome of you quitting and moving

00:37:26.240 on.

00:37:27.500 Going to, what do you do in times?

00:37:29.820 Because right now we're living in one of the best economies ever.

00:37:31.780 The economy is great.

00:37:32.620 Unemployment is as low as it's ever been.

00:37:34.380 People have jobs.

00:37:35.340 Everyone's buying everything.

00:37:37.340 What is your mindset like in 2009 when the unemployment is 11 and a half percent and the

00:37:42.900 economy is not thriving?

00:37:44.280 I mean, I am so looking forward to the next crash.

00:37:46.880 I'm telling you right now.

00:37:47.520 I am, I am so enthusiastic about the next crash.

00:37:51.300 But I hear everybody saying this right now, but Patrick, what are you crazy?

00:37:54.020 This is how you make money in good economies.

00:37:56.060 I am so looking forward to the next crash.

00:38:00.020 I can't even describe to you how much I'm looking forward to.

00:38:02.620 Oh, I love this.

00:38:03.160 Please explain why.

00:38:03.780 I will explain to you exactly why it is.

00:38:05.720 When the crash happened, okay, wealth is not made in times like this.

00:38:11.100 The people that are making real wealth today is because they were ready in 07.

00:38:16.080 Not because, some of the people are making money, oh my gosh, I turned $7,000 into $228,000

00:38:20.980 in Bitcoin.

00:38:21.520 That's not what I'm talking about.

00:38:23.200 I'm talking about a guy today who is preparing himself for the next 12, 24, 36, four or five

00:38:31.440 years.

00:38:31.980 Crash is going to come around the corner.

00:38:33.360 Every five years we have a small dip, but every 10 years we've had a good size crash.

00:38:37.980 And every 20 years, it's pretty solid, right?

00:38:40.640 When those happen, you will watch the market.

00:38:44.300 In a market you'll see, oh my gosh, she's scared. 0.83

00:38:47.100 Did you see it?

00:38:47.860 She flinched.

00:38:49.140 Oh, I learned.

00:38:50.740 Look at him.

00:38:51.500 He's not going all in right now.

00:38:53.000 Look at this guy right now.

00:38:53.900 Look at that guy right now.

00:38:54.940 They're playing defense.

00:38:55.720 They're afraid.

00:38:56.240 Did you see how he spoke the other day?

00:38:57.680 They're very afraid.

00:38:58.880 And you see some guys saying, boom, boom, boom.

00:39:02.760 Because everything is on sale when a crash happens.

00:39:05.900 Everything is on sale when a crash happens.

00:39:08.100 When a mortgage, when mortgage was booming, if you went to LA, you know this, S500 was

00:39:12.800 a pay con.

00:39:13.460 Yep.

00:39:13.660 And S500 was like a Ford Focus.

00:39:15.460 You're driving.

00:39:15.860 Oh, you're driving an S500.

00:39:16.840 Is everything good with you financially?

00:39:18.020 You're doing okay?

00:39:19.020 Because it was 9-11.

00:39:20.340 It was Ferrari.

00:39:21.080 It was Lambo.

00:39:21.740 It was Rolls Royce.

00:39:22.360 It was Bentley, right?

00:39:23.600 Every mortgage banker was making money.

00:39:26.000 But it wasn't real money.

00:39:26.980 It was fake money.

00:39:28.300 Everybody owned a nice house based on Nina.

00:39:30.640 No income, no asset.

00:39:32.060 Everybody was getting financed at a $1.5 million home.

00:39:34.840 Refinanced, make $200 grand, $2.5 million home, $3 million home.

00:39:38.380 Everybody was rich in, you know, 2000 to 2006.

00:39:41.920 And in November of 07, it switched, right?

00:39:44.920 And a bunch of people started shutting down.

00:39:47.100 And some people said, well, I'm going to stay in because I'm on the long call and all this

00:39:50.420 other stuff.

00:39:51.000 Well, they lost a lot of the money and then they started doing REO, all these other things,

00:39:54.240 right?

00:39:55.740 Right now, something's going to happen in the next five years.

00:39:58.820 And the people that are going to make massive wealth are the ones that save cash.

00:40:02.980 So I'm a cash guy.

00:40:03.980 Not always.

00:40:06.380 I'm a cash guy pre-crisis.

00:40:08.740 You're a cash guy pre-crisis.

00:40:10.080 Pre-crisis.

00:40:10.700 Which is now.

00:40:11.520 Which is now.

00:40:12.140 Which is now.

00:40:12.620 So right now is a great time to have a lot of cash.

00:40:15.900 Because what would you do with that cash if tomorrow morning you wake up and the economy

00:40:18.740 is crashing?

00:40:18.980 A Mickey Mantle card PSA 8 sells for $1.5 million today.

00:40:24.620 A Mickey Mantle rookie card.

00:40:26.480 When the crash happens, that Mickey Mantle card is going to sell for $300,000, $400,000.

00:40:31.080 You keep that Mickey Mantle card.

00:40:33.800 Ten years later, that Mickey Mantle card is going to sell for $3.5 million.

00:40:37.480 A Mickey Mantle PSA 10 1952 Topps just sold for $12 million.

00:40:42.580 Holy smoke.

00:40:43.240 A Mickey Mantle card.

00:40:45.400 Artwork from Picasso.

00:40:47.260 All of these things that people don't know how to buy.

00:40:50.020 These are all things that are $1 million, $3 million.

00:40:52.820 When crisis happened, they bought it because the market was doing good.

00:40:55.620 You go to the people that bought all those fancy stuff when the market was doing good.

00:40:59.400 And you buy it at a tenth of a price.

00:41:00.780 You sit on it for 10 years.

00:41:01.920 You made 10x, 20x.

00:41:03.680 This is a perfect time to be sitting on a lot of cash.

00:41:07.120 I sat with a guy who was the grandmaster of backgammon, Victor Ashkenazi.

00:41:11.820 I think you and him would do very, very good together.

00:41:14.580 And he was a former Goldman guy for 11 years.

00:41:17.040 He was a market maker.

00:41:18.040 40 million trades on a daily basis.

00:41:20.220 And three days before the market crashed, I said, how do you feel about the market?

00:41:24.220 I think my opinion, I think we're about to experience a massive crash.

00:41:27.520 I interviewed him.

00:41:28.760 Three days later, the market tanks.

00:41:31.240 Interest rates are going to go up.

00:41:33.120 They don't like the current president.

00:41:35.260 Whoever controls rates, rates go up.

00:41:37.900 You know, the market goes down.

00:41:40.480 The issue with China right now, midterms, there's a lot of manipulation that's going to be taking place.

00:41:45.520 And so you've got to be careful on what's going on with the people that are the decision makers behind the president.

00:41:50.360 Not necessarily the president, but the people that control Fed, all these other things.

00:41:54.180 And they don't like them.

00:41:54.820 So they can poke at anything.

00:41:56.300 You just have to be ready, cash-wise.

00:41:59.120 And it's about to happen.

00:42:00.300 Gotcha.

00:42:00.620 I love that.

00:42:01.400 Guys, there's such a lesson in this.

00:42:03.320 If you're watching this, if you're listening to this on a podcast, there's so many deep layers of lessons in here for the entrepreneur who's new, who's seasoned, and who's ready to strike.

00:42:13.280 I had the good fortune, Pat, in late 2007, 2008, as the economy crashed, as you can imagine, I'm coaching and consulting personal trainers, gym owners.

00:42:23.440 And, well, all of a sudden, they stop getting clients because people start losing money.

00:42:27.220 They don't want to get a one-on-one personal trainer, which means one-on-one personal trainers stop working with me.

00:42:31.740 I had to do an instant pivot.

00:42:33.400 I turned the outdoor boot camp model into an indoor model and franchised it within the next two years.

00:42:39.640 And that's how Fit Body Boot Camp came to be.

00:42:41.460 And so every time I look at an economy crash, people say, well, the money went away.

00:42:47.980 My mindset is the money just exchanged hands, and I just need to know whose hands it went into and what offer I can make that person.

00:42:54.760 And so I love how you explained this, that you've got to be sitting on cash right now because opportunities are going to come, whether it's a Picasso painting, whether it's a Mickey Mantle card, whether it's someone who's got a competing business that's going to sell it to you at wholesale.

00:43:07.000 Brilliant model.

00:43:07.640 So what is the future for Patrick but David through this agency, with the agency, and also with Valuetainment?

00:43:15.120 Like, what is the big outcome you're trying to achieve in the next five years?

00:43:17.460 So a PHP agency, it's very simple.

00:43:20.540 We have grown now 14 quarters in a row.

00:43:23.620 We have sold more insurance policies than the prior quarter, 14 quarters in a row.

00:43:28.840 We've been up, like, two years ago, we were selling 500 policies a month.

00:43:32.120 Two months ago, we sold 4,773 insurance policies in one month.

00:43:36.420 Holy smokes.

00:43:36.960 So from 500 to 4,773 policies.

00:43:40.540 So we've grown three years in a row at a worst-case scenario, 75%.

00:43:44.440 There's been some years that was higher.

00:43:46.100 Worst-case scenario, we've grown at a 75% that's three years in a row.

00:43:49.300 So that part's growing, and it's expanding.

00:43:51.280 It's going in a very nice place right now.

00:43:53.680 We just made the biggest investment into technology, multi-seven figures.

00:43:56.500 We invested in this technology that's going to condense time frames of processing from 15 minutes to two minutes to catching things that we need to catch.

00:44:05.220 And quality, everything's going to get better.

00:44:06.820 So we're excited about this technology we're creating.

00:44:09.140 This one's growing, okay?

00:44:10.620 And the part of the insurance industry today is most of the insurance companies, the carriers, the big companies, they tried selling policies career-side.

00:44:20.300 Career-side is if you work for New York Life, I'm New York Life, your career.

00:44:24.660 Got it.

00:44:25.140 If you work for Northwestern Mutual, you're courier, right?

00:44:28.840 If you sell for AIG, Nationwide, XYZ, you're independent, okay?

00:44:36.000 A lot of the insurance companies banked on courier for many years.

00:44:39.020 They fired their courier.

00:44:40.840 So once they fired their courier, they had to rely on what?

00:44:43.560 Because they thought, I'm going to go into the Internet, and I'm going to sell insurance on the Internet.

00:44:47.100 Here's what happened with Internet.

00:44:48.580 Nobody in the right mind buys life insurance on the Internet.

00:44:51.080 Nobody.

00:44:51.780 Nobody wakes up and says, honey, let's go buy life insurance today on the Internet.

00:44:55.600 Because insurance has to be sold, not bought.

00:44:58.500 It's a different buy.

00:44:59.340 Interesting.

00:44:59.820 You buy a shirt.

00:45:00.640 I like that jacket.

00:45:01.500 Let me go buy it.

00:45:02.260 I like that gym.

00:45:03.000 Let's go check it out.

00:45:03.660 I like CrossFit.

00:45:04.380 Let me go see this.

00:45:05.040 I like this.

00:45:05.600 Let me go get it.

00:45:06.480 No one sees an insurance commercial.

00:45:07.960 Let's go buy it, right?

00:45:08.620 Sure.

00:45:08.760 So someone has to come to you for you to get the willingness to want to buy a policy.

00:45:13.080 So Internet, once Google realized how much money these insurance companies are making,

00:45:17.600 the most expensive word on Google today is insurance.

00:45:20.880 It's $53 per click.

00:45:23.300 So if you go on Google and you type in most expensive word on Google, it's going to come

00:45:27.880 up with all the words mortgage bank.

00:45:29.600 Number one is insurance.

00:45:30.380 It's a real nice pie chart to actually see visually.

00:45:33.340 So they realize Internet's going to be too expensive for them to sell insurance on the

00:45:36.220 Internet.

00:45:36.980 So now it becomes distribution.

00:45:38.200 When you look at distribution, for the most part, it's taken.

00:45:40.600 Farmers has their own, but you can't sell them.

00:45:42.200 Farmers are only going to sell farmers.

00:45:43.980 You know, you got Trans has their own.

00:45:45.560 WFG has their own.

00:45:46.320 Prime America has their own.

00:45:47.300 You know, New York has their own.

00:45:49.000 Northwestern has their own.

00:45:49.860 So most of these guys are taken.

00:45:51.940 We are not taken.

00:45:52.920 We are still in a place where a carrier can say, we need distribution.

00:45:58.060 These guys have $8,200.

00:45:59.220 They're young.

00:45:59.680 They're going to go for a long time.

00:46:00.620 We need to do something about it to lock us in.

00:46:02.000 So that part's growing.

00:46:03.220 That's PHP.

00:46:05.880 Valuetainment side, we're about to cross a million subs.

00:46:08.000 When we said we're going to cross a million subs, we're going to do a two and a half day

00:46:10.440 conference for entrepreneurs.

00:46:12.300 We'll be launching that very soon.

00:46:14.380 And that's going to be exciting once we do that.

00:46:16.320 It's going to be, you know, A to Z, how to think, how to decide, how to process, hiring,

00:46:21.400 firing, you know, how to raise money.

00:46:23.360 It's going to be very technical.

00:46:24.780 It's not going to be, you know, sometimes you go to conferences, you can buy my package for

00:46:28.340 this.

00:46:28.540 You can buy my package for this.

00:46:29.700 You can.

00:46:30.120 Everybody's just selling their packages.

00:46:31.400 This is not that.

00:46:32.560 It's not a pitch fest.

00:46:33.780 Not at all.

00:46:34.440 At all.

00:46:34.940 You're going to have a handbook and we're processing each issue on how for you to level

00:46:40.820 up, leaving with the community of valutainers to help you grow your business to the next

00:46:44.400 level.

00:46:44.640 So people are going to come from all over the world to help entrepreneurs expand.

00:46:47.840 And this valutainment community is going to get bigger and bigger and bigger.

00:46:50.220 So with that part to me, I'm committed to spreading the concept of capitalism around

00:46:54.180 the world.

00:46:54.920 That's going to continue.

00:46:55.780 I think if we want to really minimize unemployment, crime, a lot of these other things, if we

00:47:00.060 increase entrepreneurs, a lot of those things will go lower.

00:47:02.100 So that's going to continue.

00:47:03.460 As far as the entertainment story stuff, we got some special cool things coming up soon

00:47:08.340 as well.

00:47:08.840 Gotcha.

00:47:09.200 Fantastic.

00:47:09.800 So before we wrap up, obviously you're one hell of a leader.

00:47:13.180 You're a great entrepreneur, marketer, forward thinker.

00:47:15.700 And if there was a young man or young woman who is an emerging entrepreneur and you're only

00:47:21.280 going to see them one time and there's two, three, four pieces of advice by way of being

00:47:25.200 an entrepreneur that you could impart with them, what would those messages be?

00:47:28.700 What would that lesson be?

00:47:29.760 So this is one of the things that I notice young people don't have.

00:47:34.060 They typically don't have an answer to what they want.

00:47:36.100 I know this is going to sound strange.

00:47:37.280 The scariest people in the world is somebody that's clear on what they want.

00:47:40.500 When I was single, I thought I knew what I wanted as a woman.

00:47:43.660 So I'd go date and one time I dated the same kind of girl with three different girls.

00:47:49.140 When I tell you, Petro, it's identical, it's the same exact girl, same exact girl, same

00:47:53.660 exact girl.

00:47:54.960 And one day I sat down and I'm like, oh, you know what, all these girls, you know, the

00:47:57.660 market today doesn't have any good girls and all this other stuff. 0.84

00:47:59.800 You know, the victim side, oh, they're not out there, right?

00:48:03.460 And then I sat down one day and I read a book, 101 Questions to Ask.

00:48:07.280 Before You Get Engaged.

00:48:08.860 And I literally went through every single one of the questions.

00:48:11.160 What I thought I was looking for, I wasn't looking for.

00:48:14.520 What I thought I was looking for was on the outset.

00:48:16.700 What I thought I was looking for that was really important to me and what things were

00:48:19.360 non-negotiable wasn't the three girls I dated.

00:48:21.940 And I noticed the trend.

00:48:23.440 Okay?

00:48:23.640 So then I came back and I got clear.

00:48:25.800 Four girls I dated afterwards.

00:48:27.680 Second date.

00:48:28.280 Every one of them.

00:48:28.980 I need you to read this book.

00:48:30.260 I need you to read this book.

00:48:31.120 Really?

00:48:31.480 Second date.

00:48:31.980 My wife today, our second date.

00:48:33.860 Went to church.

00:48:34.600 Went to the steps in Santa Monica.

00:48:36.160 Went to Earth Cafe.

00:48:38.180 Then went to Borders on 3rd Street.

00:48:39.840 And I bought her a book.

00:48:40.720 101 Questions to Ask Before You Get Engaged.

00:48:42.720 A week later at her house, six hours, we went through every single question together.

00:48:46.660 And these are tough questions.

00:48:47.720 Like, what baggage do you bring to the table?

00:48:49.720 Sure.

00:48:50.180 You know, what are some of the stuff on the path?

00:48:51.680 So, if a young person's watching this, when I got clear on what I wanted, everything became

00:48:57.120 clear.

00:48:57.720 Right?

00:48:58.060 I knew what woman I wanted. 0.68

00:48:59.460 I knew what kind of a business I wanted to build.

00:49:01.040 I knew what kind of a friend I wanted to have in my life.

00:49:02.740 I knew what kind of people I wanted to mentor me.

00:49:04.820 I realized exactly what's the right kind of a mentor.

00:49:07.120 Like, he is a, I call mentors trifectas.

00:49:10.240 I'll explain to you what I mean.

00:49:11.100 The reason why we get a lot of these things to come, we don't go to them.

00:49:14.800 I want you to know this.

00:49:15.780 You don't see me in a lot of different places.

00:49:17.400 I don't do a lot of speaking because we don't accept a lot of speaking ourselves.

00:49:21.140 We get a lot of offers, which is very nice.

00:49:23.160 But we say no to 90% of them.

00:49:25.120 Here's why.

00:49:26.140 I like T trifecta type of mentors.

00:49:29.140 This is what makes them T.

00:49:30.960 The letter T stands for theory.

00:49:33.040 He has certain theories in life.

00:49:34.860 You meet a lot of people online that are mentors and they read 200 books and now they're theories

00:49:39.380 on how to build a business, but they've never built a business.

00:49:42.020 The E is experience.

00:49:43.260 He has experience building a business, right?

00:49:45.160 So the experience is, there's a big difference between you being a salesperson versus having

00:49:49.440 employees, lease, office, attorneys, lawsuits.

00:49:52.780 It's a very, there's a reason why so many people don't do it.

00:49:56.340 So he's got experience.

00:49:57.260 And last but not least, it's application.

00:49:58.860 He's applied and knows what works and what doesn't work.

00:50:01.880 So my eye got very clear in knowing who to take counsel from and I wanted to be around

00:50:07.500 trifectas.

00:50:08.340 That's a trifecta.

00:50:09.280 Look for trifecta type of mentors around you because you're not getting gibberish. 0.98

00:50:14.620 You're not getting somebody telling you.

00:50:16.400 Like my friend Bradford sitting back there, his background in the military is special ops,

00:50:20.360 special forces.

00:50:21.580 He wasn't just in the army.

00:50:22.920 Like I was just in the army.

00:50:24.300 I never went to war.

00:50:25.060 I can't tell you what it is to be into war and seven people did and I'm carrying one

00:50:28.880 of them.

00:50:29.160 I can't.

00:50:29.560 He can tell you that.

00:50:30.760 I can't tell you that.

00:50:31.660 That's a T.

00:50:32.700 Trifecta.

00:50:33.120 If it's coming to military, I can't give you stories.

00:50:34.740 He could give you stories.

00:50:35.940 So the moment I went to that and I saw people giving me advice on what to do with my business,

00:50:40.600 I always asked a set of questions and I realized this is a T person.

00:50:44.720 This is a trifecta person.

00:50:46.540 Perfect.

00:50:46.860 I want to be around trifecta types of people because their counsel is always going to give me

00:50:51.220 the blind spot that most people will miss, a trifecta person won't help you miss it.

00:50:55.740 A trifecta person will say, by the way, these three things I just told you, you could still

00:50:59.300 do it wrong if you don't pay attention to X, Y, Z. That's the trifecta.

00:51:02.840 So those are some of the things I would tell the younger entrepreneur to be thinking about.

00:51:05.800 Brilliant.

00:51:06.240 Brilliant.

00:51:06.500 So I'm fascinated that you're so into mentorship because I was going to ask you, when is it

00:51:13.500 that you're going to start mentoring?

00:51:14.780 And then, of course, you said when we hit a million subs, we're going to launch this big

00:51:18.120 event.

00:51:19.080 Big event.

00:51:19.560 And so I'm curious, do you plan on creating some kind of a coaching mentoring thing?

00:51:25.000 Because you've got to have people banging down your door saying, hey, mentor me, coach

00:51:28.800 me.

00:51:29.040 I want to experience what you know as an entrepreneur.

00:51:32.020 Yeah.

00:51:32.400 And this is probably what I'll say.

00:51:34.340 And I don't want it to come across as a takeaway or an arrogant approach at all.

00:51:40.120 I like speaking to CEOs.

00:51:42.420 I like speaking to people that are building a business that are maybe past phase one.

00:51:46.480 Phase one, people just go watch Valuetainment and come to a Valuetainment conference.

00:51:50.420 You're going to be inspired to want to go into phase two.

00:51:53.000 But when you're talking to a phase two, phase three CEO, that is where I can give direction

00:51:58.140 more than giving somebody out of phase one.

00:51:59.940 Phase one, there's plenty of contact to help you go from zero to six figures.

00:52:03.240 You don't need a direct relationship to go to six figures today.

00:52:07.520 And by the way, I didn't grow up with YouTube.

00:52:09.760 You didn't grow up with YouTube.

00:52:10.740 When we were coming up, it was like, you talked about the books.

00:52:14.220 Tom Hopkins led you to, you know, Brian Tracy led you to, Abram led you to, Kennedy, then

00:52:20.200 Abraham, right?

00:52:21.140 So you went through that part and you read the book.

00:52:24.520 Today, YouTube, you can sit on YouTube today and watch the right videos, the right videos

00:52:29.240 with the right people producing content.

00:52:31.100 You watch it for 90 days.

00:52:32.480 If you don't get to six figure income, purely you don't have the work ethic.

00:52:35.680 I want to get to the part where I'm going with a guy that's doing 10 million to go to

00:52:39.700 20, 40, 50, 100 million.

00:52:41.600 That's where I get excited about it because the numbers are scalable.

00:52:44.560 And it's typically two, three small things you find to tweak where a guy just goes like

00:52:47.780 this.

00:52:48.380 We had three guys that flew in, okay?

00:52:49.980 One guy.

00:52:50.980 Three years ago, he started watching Valuetainment.

00:52:52.480 He was making 200 grand a year.

00:52:53.600 Last year, $15 million.

00:52:55.000 Mario and I are sitting at breakfast.

00:52:56.140 He said, show me the numbers.

00:52:56.840 I'm like, you went from 200 to 50 million.

00:52:58.840 Tell me why.

00:52:59.840 So I got onto Valuetainment.

00:53:01.180 I watched his five videos.

00:53:02.240 I had no idea how to do this.

00:53:03.740 I was not somebody that was sales.

00:53:05.040 I was more the technical guy.

00:53:06.360 I brought somebody that was sales.

00:53:07.480 I brought somebody that was just in my business group.

00:53:09.320 So we're probably going to go into that direction, but it'll be people that have already built

00:53:15.400 an established business.

00:53:16.440 That's the interest.

00:53:17.300 I had a feeling that was the direction you're going.

00:53:18.980 And I think that there's a massive vacuum in there for someone just like you.

00:53:22.600 And so I can't wait till you enter there.

00:53:24.660 How do people learn more about you?

00:53:26.760 I'm easy to find.

00:53:27.840 Instagram, PatrickBedDavid, Twitter, PatrickBedDavid, and YouTube.

00:53:31.460 Just type in Valuetainment and you'll find us.

00:53:33.160 I do have one more question before we can log off.

00:53:35.480 Your Ferrari video that went viral.

00:53:37.240 Yes.

00:53:37.520 Was that intentional?

00:53:39.040 Did you guys craft that to go viral or was that just it went viral?

00:53:41.860 Not at all.

00:53:42.460 So I'll tell you the story about that.

00:53:43.860 So we made the video and we went on YouTube and the title was Best Motivational Video 2015.

00:53:50.360 And it got 2,500 views in the first 24 hours.

00:53:53.600 We were so disappointed.

00:53:55.400 2,500 views in the first 24 hours.

00:53:58.060 And then Mario and I are talking.

00:53:59.400 I'm like, Mario, this thing didn't do that good.

00:54:00.940 Mario is always like, well, Pat, you've got to think about the long term.

00:54:04.020 This is going to do good.

00:54:05.080 We have to be patient.

00:54:05.980 People haven't seen it yet.

00:54:06.960 I think it's doing okay.

00:54:08.180 Like Mario, this thing didn't do good.

00:54:10.320 Terrible.

00:54:11.340 And so I was with the founder of Lululemon, Chip Wilson.

00:54:15.440 I just saw the interview.

00:54:16.360 When it comes out, it's going to be sick when it comes out with Chip Wilson, his new book, Little Black Sketchy Pants.

00:54:23.500 One of the things he said is, he says, I asked him, I said, are you ever happy?

00:54:28.020 He says, a true creative person is never content with what he's creating.

00:54:31.280 The moment they produce a product, they don't like the product.

00:54:34.000 The moment they, I was blown away by what he said with that, right?

00:54:36.720 Here's a $3.9 billion guy saying from the moment he produced a product, he was never happy with it.

00:54:41.460 It was always like, I have to make you better, make you better, make you better.

00:54:43.320 That's why sometimes it's hard to work with somebody like that, right?

00:54:46.320 So going back to the question with the Life of an Entrepreneur video.

00:54:50.820 So then I go on Facebook.

00:54:53.260 It's October 31st.

00:54:54.600 It is 3.13 Pacific Standard Time.

00:54:57.300 I'm about to take my kids trick or treat, and we're going to go to Northridge Mall,

00:55:00.500 and then we're going to go to some friends and go trick or treat.

00:55:03.840 And my dad's sitting right there.

00:55:04.860 I uploaded on Facebook without telling Mario, I said, I'm going to change the title.

00:55:08.880 I watched the video again.

00:55:10.000 It was 90 seconds to the moment of the story.

00:55:13.320 So I said, Life of an Entrepreneur in 90 Seconds.

00:55:16.180 So I changed the title from Best Motivational Video to Life of an Entrepreneur in 90 Seconds,

00:55:20.460 and I uploaded it.

00:55:21.900 And then I went with my dad.

00:55:23.480 And then all of a sudden, I look at my phone on Facebook.

00:55:25.360 My phone is blowing up.

00:55:27.000 It's got a quarter million views.

00:55:28.060 That's a lot of views if you've never had a quarter million views.

00:55:30.720 And then all of a sudden, I go to sleep.

00:55:32.500 I wake up.

00:55:33.260 Every single website of ours is shut down.

00:55:36.520 Every PHP.

00:55:38.360 Everything is shut down.

00:55:39.640 Because of all the traffic.

00:55:40.460 Every single thing.

00:55:41.720 The amount of emails in 24 hours, I got 25,000 emails.

00:55:45.920 25,000 emails that we got.

00:55:48.500 That ultimate self-discovery questionnaire on the website was taken 33,000 times.

00:55:53.160 It was taken.

00:55:54.020 33,000 times that PDF was downloaded.

00:55:56.760 And then obviously it goes 10 million, 20 million, and 31 million views later.

00:56:00.520 Crazy stuff.

00:56:01.260 That's become a legendary video for you.

00:56:02.620 It's inspired a lot of people around the world.

00:56:05.740 Yes, but just because you did it once, let me tell you, to do it again, it's not like, well, we're going to do it again.

00:56:11.900 This one's going to go viral.

00:56:13.480 There is some luck when it comes down to virality.

00:56:16.180 Ain't that the truth.

00:56:16.920 Mr. Patrick, but David, thank you so much for spending time with us here at The Empire Show.

00:56:20.780 Really appreciate you.

00:56:21.720 And, of course, if you're not following Patrick, please be sure to follow him.

00:56:25.180 Watch Valuetainment.

00:56:25.980 You will be entertained.

00:56:26.840 You will be educated.

00:56:28.060 And you will get a really good glimpse into the history of what makes this man an amazing entrepreneur.

00:56:32.840 Thank you so much for spending time with us.

00:56:34.100 Thanks for having me, brother.

00:56:34.880 Thanks, everybody, for listening.

00:56:36.220 And, by the way, if you haven't already subscribed to Valuetainment on iTunes, please do so.

00:56:40.840 Give us a five-star.

00:56:42.240 Write a review if you haven't already.

00:56:43.600 And if you have any questions for me that you may have, you can always find me on Snapchat, Instagram, Facebook, or YouTube.

00:56:49.780 Just search my name, PatrickBitDavid.

00:56:51.680 And I actually do respond back when you snap me or send me a message on Instagram.

00:56:56.680 With that being said, have a great day today.

00:56:58.420 Take care, everybody.

00:56:59.120 Bye-bye.

Valuetainment - December 11, 2018

Episode 220： Inside the Mind of Patrick Bet-David

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