Valuetainment - March 11, 2020


Episode 440： How Rockefeller's Became The Richest Family Of All Time


Episode Stats


Length

11 minutes

Words per minute

218.09933

Word count

2,500

Sentence count

222

Harmful content

Misogyny

1

sentences flagged

Hate speech

3

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

The Rockefeller family was at one point the richest family of all time. And we re going to break down the secret sauce that got them to do business with so many different people around the world. The Rockefeller family, the Kennedys, the Vanderbilts, all of these last names, there are some habits that pass down generationally from the grandfather to the son to the grandson, and it continues to go down.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.000 30 seconds.
00:00:01.860 Did you ever think you would make it?
00:00:04.560 I feel I'm so close I could take sweet victory.
00:00:07.640 I know this life meant for me.
00:00:10.780 Yeah, why would you bet on Goliath when we got Bet David?
00:00:14.600 Valuetainment, giving value is contagious.
00:00:16.440 This world of entrepreneurs, we get no value to haters.
00:00:19.160 How they run, homie? 1.00
00:00:20.140 Look what I become.
00:00:21.420 I'm the one.
00:00:22.500 This is Patrick Bedevi, host of Valuetainment.
00:00:24.000 Today we're going to talk about the Rockefeller family,
00:00:25.800 the family that was at one point the richest family of all time.
00:00:29.500 And we're going to break down the secret sauce
00:00:31.820 that got them to do business with so many different people around the world.
00:00:36.540 The Rockefeller family, the Kennedys, the Vanderbilts,
00:00:40.020 all of these last names,
00:00:41.460 there are some habits that pass down generationally
00:00:44.300 from the grandfather to the son to the grandson,
00:00:47.380 and it continues to go down.
00:00:49.020 These are habits.
00:00:50.060 The Rockefellers are known for business, right?
00:00:53.100 But John D. Rockefeller's son, John D. Rockefeller Jr.,
00:00:56.980 had his son, David Rockefeller,
00:00:59.140 when he died recently, a couple years ago,
00:01:01.700 he was worth $3.3 billion.
00:01:03.560 He was known for having mastered the art of networking.
00:01:07.900 I want to show you what he did every time he met somebody,
00:01:11.220 and I'm going to show you exactly what his 3x5 cards were.
00:01:14.700 At his place, at his home office that they had,
00:01:16.920 their family office that they had,
00:01:18.320 in that suite,
00:01:19.060 he had a five-foot,
00:01:20.720 a five-foot Rolodex
00:01:23.140 of 100,000 contacts,
00:01:25.900 it was a total of 200,000 index cards,
00:01:27.760 3x5,
00:01:28.400 with information on them.
00:01:30.120 Let me share with you some of these names
00:01:31.580 on what it said on there, okay?
00:01:33.120 These are some of the names you see.
00:01:34.300 Let's look at Dwight Eisenhower's,
00:01:35.940 as you look at the 3x5 card.
00:01:37.900 It tells you his name,
00:01:39.220 how to introduce him,
00:01:40.060 dear Mr. President,
00:01:41.400 his field,
00:01:42.540 his background,
00:01:43.660 wife,
00:01:44.220 what part of the country they lived in,
00:01:46.360 university they went to,
00:01:47.520 the first time they met
00:01:48.740 at Carnegie Endowment for International Peacemaking,
00:01:52.200 the phone number,
00:01:52.960 the contact information,
00:01:54.380 and other meetings they've had in the past.
00:01:55.960 Here's another one you're looking at
00:01:57.080 with Richard Nixon.
00:01:58.440 The way he introduced him was,
00:01:59.680 dear Dick,
00:02:00.200 because that's how they spoke.
00:02:01.720 They met first in 1955,
00:02:03.800 June 6th,
00:02:04.560 at a luncheon given by
00:02:05.700 United Republican Finance Commission
00:02:07.680 for the state of New York.
00:02:09.600 Also, Walter,
00:02:10.720 look at the details,
00:02:11.720 10-1955,
00:02:13.100 10-1856,
00:02:13.920 this is way before
00:02:15.420 Nixon became a president.
00:02:16.760 Here's another one for you.
00:02:17.960 Donald J. Trump.
00:02:20.020 Donald J. Trump,
00:02:22.180 back on,
00:02:22.980 first time they met,
00:02:23.980 it says they met on 9-23-1971.
00:02:27.820 Think about this.
00:02:29.300 The first time he met Donald Trump,
00:02:30.800 he says,
00:02:31.380 maybe I've got to put
00:02:32.120 this contact info aside.
00:02:33.620 Then he puts when he got married,
00:02:35.420 when he got divorced,
00:02:36.800 married to Marla Maples.
00:02:38.280 You know,
00:02:38.520 they met again 6-18-79
00:02:40.260 at Metropolitan Real Estate Dinner.
00:02:42.360 And this list goes down.
00:02:43.320 There's more context,
00:02:44.240 by the way.
00:02:44.800 Henry Kissinger,
00:02:46.140 LBJ,
00:02:47.040 John F. Kennedy,
00:02:48.260 Mandela,
00:02:48.940 Bill Gates,
00:02:49.480 Gerald Ford,
00:02:50.160 and the list goes on
00:02:51.780 and on and on.
00:02:52.840 What's the moral of the story?
00:02:54.140 Imagine that database.
00:02:55.540 Imagine that Rolodex.
00:02:56.880 100,000 names.
00:02:58.760 What is the net worth
00:02:59.600 of that Rolodex?
00:03:00.560 What is the influence
00:03:01.700 of that Rolodex?
00:03:02.700 What kind of things
00:03:03.600 can you get done
00:03:04.200 through that Rolodex?
00:03:05.440 Think about the reach
00:03:06.260 of the Rolodex.
00:03:07.000 Think about David Rockefeller's
00:03:08.580 reach of his Rolodex,
00:03:09.560 meaning the value,
00:03:10.760 the amount of contacts,
00:03:11.740 how much money they have,
00:03:12.560 how much access to capital,
00:03:14.120 how international it is,
00:03:15.380 the influence that they have
00:03:16.320 just by having that Rolodex.
00:03:17.980 I will tell you here
00:03:18.740 that anybody I meet
00:03:19.700 that's a billionaire
00:03:20.340 or somebody that's made it
00:03:21.320 at the highest level
00:03:21.860 in politics,
00:03:22.800 they will tell you
00:03:23.640 the value of networking
00:03:24.820 may be above everything else
00:03:26.860 in their eyes.
00:03:27.920 So having said that,
00:03:28.800 let's get right into it.
00:03:29.900 Here's a few things
00:03:30.680 I want you to be thinking about.
00:03:32.040 Different types of contacts
00:03:33.220 you can have.
00:03:33.620 Now this can get a little bit more detail,
00:03:35.200 up to 30 of them,
00:03:36.080 but I'm just simplifying for you.
00:03:37.480 One, you want to have access
00:03:39.280 to people on your Rolodex
00:03:40.960 that have access to capital.
00:03:42.080 These are people that
00:03:42.680 if you want to go out
00:03:43.340 and raise $100 million,
00:03:44.620 $5 million, $10 million,
00:03:46.400 $1 billion,
00:03:47.020 you can do that.
00:03:47.900 My access to capital
00:03:48.900 with the contacts that I have,
00:03:50.180 it's around $100 billion.
00:03:51.440 It wasn't like that 15 years ago.
00:03:53.700 It is today.
00:03:54.600 Number two,
00:03:55.020 access to legal counsel,
00:03:56.900 different industries,
00:03:57.780 whether it's financial,
00:03:58.780 real estate, marketing.
00:04:00.380 You know,
00:04:00.660 you want it to be vast.
00:04:02.020 You don't want it just to be general.
00:04:03.380 General is good,
00:04:04.020 but you want it to be specific.
00:04:04.980 Third is access to the right accountants.
00:04:07.380 Tax laws are changing regularly.
00:04:09.040 I think too many times
00:04:09.860 people just kind of look past it.
00:04:12.080 Oh, it's okay.
00:04:12.540 I'll let my account take care of it.
00:04:13.940 Every year,
00:04:14.440 end of the year,
00:04:14.840 I sit down with my accountant.
00:04:15.800 He'll say,
00:04:16.120 here's what's changing.
00:04:16.940 This is what's going on over here.
00:04:18.080 This is what this person's proposing.
00:04:19.720 If this person gets elected locally,
00:04:21.480 this is what could take place.
00:04:22.840 If this person, you know,
00:04:23.960 votes for this state,
00:04:25.260 here's what could happen.
00:04:26.040 If this person votes for this
00:04:27.040 on the federal level,
00:04:27.720 this could happen.
00:04:28.580 It allows me to prepare for it.
00:04:30.040 Next is connectors.
00:04:31.280 People that just know everybody.
00:04:32.480 I need to get a hold of somebody
00:04:34.220 at the Dallas Cowboys place.
00:04:35.860 Yeah, just call this person.
00:04:36.840 Boom.
00:04:37.040 Okay, great.
00:04:38.040 I need to get a hold of somebody
00:04:39.220 that's working with
00:04:40.120 the such and such organization.
00:04:41.760 I know somebody.
00:04:42.340 Call them over here.
00:04:43.220 You want a lot of people here
00:04:44.320 who are very good at knowing everybody.
00:04:45.860 These are people
00:04:46.320 that always go to networking events.
00:04:47.820 They're always at the bar
00:04:48.540 meeting the people.
00:04:49.260 They're great schmoozers. 0.98
00:04:50.420 You want people like that.
00:04:51.320 Next is media.
00:04:52.220 Whether it's social media,
00:04:53.600 whether it's podcast,
00:04:55.300 YouTube,
00:04:55.840 whether it's news media,
00:04:57.120 it doesn't matter.
00:04:57.740 You want contacts in media
00:04:58.660 because anytime you're trying
00:04:59.600 to have a splash
00:05:00.760 or a new launch
00:05:01.480 or an announcement you're making,
00:05:02.880 you can call your peers
00:05:04.180 and say,
00:05:04.680 hey, I got this going on.
00:05:05.860 I want to be able to launch you.
00:05:06.740 You talk to them.
00:05:07.240 They say, no problem.
00:05:07.720 I'll help you out
00:05:08.240 and then they'll launch
00:05:09.140 what you have going on.
00:05:09.940 Six is Intel.
00:05:11.100 Folks who have Intel research,
00:05:12.820 data,
00:05:13.720 inside scoop
00:05:14.340 on what's going on
00:05:15.000 with a certain market,
00:05:15.920 certain economy.
00:05:16.600 Tell me about how this event went.
00:05:18.140 Tell me about how this
00:05:18.800 South by Southwest event was.
00:05:21.080 What's going on
00:05:21.620 in the New York market?
00:05:22.420 Tell me about the market
00:05:23.120 in Austin right now.
00:05:23.880 How's LA looking right now?
00:05:25.280 You're getting inside scoop.
00:05:26.440 You want people like that.
00:05:27.260 Next is Sounding Boards.
00:05:28.840 Here's what I'm thinking
00:05:29.760 about doing, John.
00:05:30.980 What do you think about this?
00:05:32.200 I don't like the idea.
00:05:33.120 Tell me why.
00:05:34.020 Do I have any blind spots?
00:05:35.180 Am I missing something?
00:05:36.260 These are good Sounding Boards
00:05:37.320 to be talking about.
00:05:38.480 Next is Celebrities
00:05:39.380 because Celebrities
00:05:40.640 isn't anything new.
00:05:41.660 Knowing Celebrities
00:05:42.320 is a good thing
00:05:42.780 because if all of these
00:05:44.520 major brands worldwide
00:05:46.020 hire celebrities,
00:05:47.500 hey, they hire Shaq, 0.98
00:05:48.700 they hire Messi,
00:05:50.260 they hire Ronaldo,
00:05:52.100 they hire all these people
00:05:53.040 because they have a draw,
00:05:54.540 they have a certain Q score.
00:05:55.900 The same goes with you
00:05:56.880 if you're putting a party together,
00:05:58.260 gathering together,
00:05:59.000 event together.
00:05:59.600 Number nine is Politicians.
00:06:01.060 You want to know Politicians
00:06:02.040 because eventually
00:06:02.760 they're going to dictate the laws 0.97
00:06:03.860 so it's good to know
00:06:04.940 what's going on with your state
00:06:05.980 locally, federal, state,
00:06:07.440 all that level.
00:06:08.560 And the last but not least
00:06:09.300 is Physically Attractive People.
00:06:10.580 This isn't anything new.
00:06:12.040 You go to restaurants
00:06:13.180 that have attractive people.
00:06:14.340 People want to buy
00:06:15.200 from attractive people
00:06:16.080 more than others,
00:06:16.760 especially if the ticket item
00:06:17.680 is higher.
00:06:18.500 It's good to know people
00:06:19.780 who know attractive people,
00:06:21.300 whether you put a party together,
00:06:22.500 a company together.
00:06:23.120 I ran a sales office
00:06:24.640 for ten years
00:06:26.440 and I had one thing
00:06:27.580 that was a very important thing for me.
00:06:29.300 I wanted good-looking men and women
00:06:31.480 in my office
00:06:32.560 because it brought more people.
00:06:33.920 Similar to a nightclub
00:06:35.020 except this is more business
00:06:36.900 but it still brought people
00:06:37.900 to the business.
00:06:38.460 So these are types of contacts.
00:06:39.780 Now, you can set that aside
00:06:41.400 and you can have access
00:06:42.800 to all these contacts
00:06:43.560 and you can still not have
00:06:45.100 any value to it
00:06:45.780 because you don't have
00:06:46.400 a quality relationship
00:06:47.900 with these contacts.
00:06:48.620 So let's break these down.
00:06:49.540 Number one,
00:06:50.600 if you've made money together
00:06:52.080 with somebody,
00:06:53.020 that increases the level
00:06:54.300 of relationship you have
00:06:55.500 with this person
00:06:55.980 on your Rolodex
00:06:56.640 because you call them
00:06:57.440 and you say,
00:06:57.780 Johnny, last year
00:06:59.020 we made $2.8 million.
00:07:00.420 This next one's looking
00:07:01.320 it's going to be around
00:07:01.820 $3 to $4 million.
00:07:02.740 You want to do something here?
00:07:03.580 Yeah.
00:07:03.980 How much you want to go on?
00:07:04.780 Half a million?
00:07:05.260 A million?
00:07:05.620 What do you want to do?
00:07:06.180 I'm in for a million.
00:07:07.020 Okay, great.
00:07:07.780 So I'm going to send
00:07:08.440 the information over to you.
00:07:09.720 Because we've made money together,
00:07:11.140 there's credibility.
00:07:11.980 Number two is we've won together.
00:07:13.840 It could be sports.
00:07:15.140 It could be in the past.
00:07:16.220 It could be we did something together
00:07:17.580 where we won together.
00:07:18.940 There is that bond and trust
00:07:20.200 to know that I'm giving my best
00:07:21.500 and you're giving your best.
00:07:22.500 Number three is emotional bond.
00:07:24.380 Emotional bond may be
00:07:25.520 we shared a common loss together.
00:07:28.140 We had a painful loss.
00:07:29.480 We had a painful moment.
00:07:30.740 Or, you know,
00:07:31.600 we're connected through a church.
00:07:33.160 Spiritually, it doesn't matter.
00:07:34.220 There's some sort of an emotional bond
00:07:35.680 that you have to each other.
00:07:36.700 So when you call for a favor,
00:07:38.340 that person's willing to help you
00:07:39.440 because there's that emotional bond.
00:07:40.620 Number four is you had fun together.
00:07:42.820 You traveled together.
00:07:43.820 You played sports together.
00:07:45.020 I don't know.
00:07:45.820 You went to, you know,
00:07:47.060 a concert together.
00:07:48.120 You go to sporting events together.
00:07:49.700 You're laughing with each other.
00:07:50.800 You go to comedy shows,
00:07:51.720 concerts together.
00:07:52.660 There's that emotional bond of fun.
00:07:54.540 You call that person.
00:07:55.400 That person's willing to establish
00:07:56.640 a stronger relationship with you
00:07:58.100 so they'll help you out.
00:07:58.720 This next one's interesting.
00:07:59.780 A common enemy or an ally.
00:08:02.280 You may have somebody
00:08:03.900 that is an enemy of yours
00:08:04.920 that's also an enemy of mine.
00:08:06.540 You've given me the contact.
00:08:07.960 It's going to help us
00:08:08.800 both win against the competitor
00:08:10.720 that we have
00:08:11.220 or an ally that we have.
00:08:12.740 Six, overcome something tough together.
00:08:15.080 You had a startup.
00:08:16.300 It was very difficult.
00:08:17.220 It was about to go out of business
00:08:18.120 and both of you guys
00:08:19.300 were really working hard
00:08:20.160 and you helped it go together
00:08:21.600 and ended up winning
00:08:22.700 but that moment brought a bond
00:08:24.260 and last but not least
00:08:24.960 is mutual friends or family.
00:08:26.880 Hey Johnny,
00:08:27.340 I was given your name and number
00:08:28.340 by a good friend of mine
00:08:29.240 and a good friend of yours,
00:08:30.040 Bobby.
00:08:30.320 Oh yeah, Bobby.
00:08:31.220 Bobby told me to call you.
00:08:32.200 I've got a business thing going on.
00:08:33.740 He said,
00:08:34.060 you'd be a good guy to contact.
00:08:35.020 Oh yeah, he told me
00:08:35.600 you were going to be calling.
00:08:36.280 Thanks for calling me.
00:08:37.320 Mutual friends.
00:08:37.940 So, 10 types of contacts,
00:08:41.100 quality of the contact,
00:08:42.780 and last but not least
00:08:43.780 is actionable items
00:08:44.840 on what to do with your contacts.
00:08:46.140 Number one,
00:08:46.960 most people don't take a time out
00:08:49.140 and go through their contacts
00:08:50.680 to see who's in here.
00:08:52.420 I got,
00:08:52.880 I don't know,
00:08:53.760 I got 11,129 names on my phone
00:08:57.600 but I'll tell you one thing here,
00:08:59.300 they're not all
00:09:00.120 the highest level of contacts.
00:09:02.420 Neither are yours.
00:09:03.840 Neither was I 10, 15 years ago.
00:09:06.060 Maybe I am today
00:09:07.180 but I wasn't 10, 15 years ago.
00:09:09.180 But the first thing you got to do
00:09:10.540 is extract the solid contact
00:09:13.420 out of your phone.
00:09:14.340 Number one.
00:09:14.800 By the way,
00:09:15.080 we can do this on phone and email.
00:09:16.460 That's number one.
00:09:17.320 Number two,
00:09:17.880 organize and categorize.
00:09:19.680 Based on this
00:09:20.480 or based on whatever else
00:09:21.480 you may want to do.
00:09:22.520 Industry, professional,
00:09:23.740 celebrity, media,
00:09:25.120 law, tax,
00:09:26.420 it doesn't matter.
00:09:27.400 Organize and categorize.
00:09:28.940 Kind of like how they were doing it
00:09:30.200 with the Rockefellers.
00:09:31.060 Number three,
00:09:32.040 stay in constant communication
00:09:33.400 with them regularly.
00:09:34.840 They got to be hearing from you.
00:09:36.160 Except not asking for favors.
00:09:38.560 So if you constantly ask for favors,
00:09:41.060 they no longer answer your phone calls
00:09:42.580 because it's always for favors.
00:09:44.060 Can you do this for me?
00:09:45.080 Can you do that for me?
00:09:46.120 Can you do this for me?
00:09:47.060 And that person is eventually going to be like,
00:09:48.380 you're just trying to get stuff out of me.
00:09:49.900 Listen man,
00:09:50.240 there's no relationship here.
00:09:51.680 It's not in constant communication for favors.
00:09:54.100 It's in constant communication.
00:09:55.460 Birthday,
00:09:56.280 wedding,
00:09:56.740 anniversary,
00:09:57.480 help,
00:09:57.780 how can I help you?
00:09:58.500 Is everything going on?
00:09:59.260 How this?
00:09:59.920 What do you think about this?
00:10:00.760 It's basic communication.
00:10:02.080 And last but not least,
00:10:02.800 trying to find to add new names to your list constantly.
00:10:06.340 So make a list of 100 names right now for yourself.
00:10:09.540 And write it down and say,
00:10:10.320 I'd like to be friends with this person,
00:10:11.700 that person,
00:10:12.100 this person,
00:10:12.500 this person,
00:10:12.880 that person.
00:10:13.580 And work your list.
00:10:15.240 Start working on your list.
00:10:17.020 Where gradually,
00:10:17.840 as you hit them on the list here,
00:10:19.120 I got 92 more names to go.
00:10:21.580 78 more names to go.
00:10:23.360 63 more names to go.
00:10:24.520 I can tell you right now,
00:10:25.600 the emails that I have,
00:10:26.520 or the texts,
00:10:27.020 or calls that I have with people today,
00:10:29.180 10 years ago,
00:10:30.020 they were on the list.
00:10:31.240 That I was hoping for them to finally get on this list,
00:10:33.260 because I wanted to play ball at a higher level.
00:10:35.140 But if I don't put them on the list,
00:10:36.660 and I don't take action,
00:10:37.780 they're not going to get on my list.
00:10:39.020 It's the same thing you've got to be doing.
00:10:40.240 And then eventually,
00:10:41.040 one day,
00:10:41.540 maybe,
00:10:41.940 they talk about your Rolodex,
00:10:43.700 and the contacts you have.
00:10:44.860 Because if presidents,
00:10:46.860 if Rockefeller,
00:10:48.040 Vanderbilt,
00:10:48.580 if Kennedys,
00:10:49.700 if these people value
00:10:51.200 networking,
00:10:52.440 and building a strong Rolodex,
00:10:54.040 maybe you ought to do the same as well,
00:10:55.340 or take your game to the next level,
00:10:56.520 your business to the next level.
00:10:57.540 Having said that,
00:10:58.360 take care.
00:10:58.880 Bye-bye.
00:10:59.320 Thanks everybody for listening.
00:11:00.580 And by the way,
00:11:01.020 if you haven't already subscribed to Valuetainment on iTunes,
00:11:03.960 please do so.
00:11:05.120 Give us a five star.
00:11:06.500 Write a review if you haven't already.
00:11:08.080 And if you have any questions for me that you may have,
00:11:10.120 you can always find me on Snapchat,
00:11:12.100 Instagram,
00:11:12.840 Facebook,
00:11:13.420 or YouTube.
00:11:14.060 Just search my name,
00:11:14.960 Patrick Bid David.
00:11:16.040 And I actually do respond back
00:11:17.940 when you snap me
00:11:18.800 or send me a message on Instagram.
00:11:20.800 With that being said,
00:11:21.520 have a great day today.
00:11:22.620 Take care everybody.
00:11:23.360 Bye-bye.
00:11:23.620 Bye-bye.