Valuetainment - April 03, 2020


Episode 450： Coronavirus - How It Shutdown The World


Episode Stats

Length

25 minutes

Words per Minute

213.0847

Word Count

5,386

Sentence Count

558

Misogynist Sentences

2

Hate Speech Sentences

6


Summary


Transcript

00:00:00.580 30 seconds.
00:00:01.880 Did you ever think you would make it?
00:00:04.540 I feel I'm so close I could take sweet victory.
00:00:07.660 I know this life meant for me.
00:00:10.840 Yeah, why would you bet on Goliath when we got Bet David?
00:00:14.380 Value taming, giving, values contagious.
00:00:16.440 This world of entrepreneurs, we get no value to haters.
00:00:19.180 How they run, homie, look what I've become.
00:00:21.480 I'm the one.
00:00:22.520 Coronavirus, how bad is it?
00:00:23.740 How real is it?
00:00:24.280 How worried should you not be?
00:00:25.260 I mean, the Feds just dropped the rates to zero.
00:00:27.380 The last time we did this was in 08, right before a potential depression.
00:00:31.300 It was already a recession.
00:00:32.920 And the time before 2008 was in 1952.
00:00:35.240 So should you not be worried?
00:00:36.540 You may be a parent, a family member, somebody that's running a business, an entrepreneur,
00:00:40.160 intrapreneur.
00:00:40.840 You want to know more, but you don't have all the time in the world to sit there researching
00:00:43.560 for hours.
00:00:44.100 On Saturday, I came to the office from morning till night.
00:00:46.980 I was researching.
00:00:48.020 We're going to talk about the timeline of what it led to where we are today.
00:00:51.700 We're going to talk about cases in the countries, death in countries, by state.
00:00:55.120 The main concern that we have with hospital beds on where we rank versus other countries,
00:01:00.200 how infectious this disease is, and the death rate, and then 10 people you ought to follow.
00:01:04.580 And final thoughts I'm going to have.
00:01:05.920 Yesterday, I was in communication with so many different people.
00:01:07.980 I'd say 400 or 500 people through a text or phone call till 1 o'clock in the morning.
00:01:11.460 And the conclusion I come up with that there are five different types of people with the
00:01:14.820 topic of coronavirus.
00:01:15.960 And the first kind of are the naive folks.
00:01:17.380 These are folks that don't really know what's going on.
00:01:19.620 They're just innocently living their lives.
00:01:22.000 They're kind of worried a little bit because everybody else is worried, but they're not
00:01:25.300 grabbing paper and finding out what's going on.
00:01:26.960 The second kind are those that are probably the biggest threat to what's going on today.
00:01:30.500 These are folks that are ignorant.
00:01:31.680 They don't really do any research.
00:01:33.060 They don't know what's going on, but they have opinions because they heard something
00:01:35.880 from here on a meme or a social media post or something they read over here, and they're
00:01:40.260 just kind of blurted out on what's going on.
00:01:42.220 Then the third kind are the irresponsible people.
00:01:43.980 These are people that know what's going on, but they're not making the right responsible
00:01:47.080 decisions.
00:01:47.580 The fourth kind are those that are into conspiracy theories.
00:01:51.260 Let me tell you, it's China.
00:01:52.420 Let me tell you, it's this.
00:01:53.700 Let me tell you, it's the U.S. government.
00:01:54.860 Let me tell you this because it's more of a juicy story.
00:01:57.100 They just want to kind of share.
00:01:58.020 These are people that love gossip, and they want to share this stuff with other people.
00:02:02.140 And the fifth kind are those that are the critical thinkers that don't want to listen
00:02:06.700 to somebody talk and sensationalize what's going on.
00:02:09.340 They want to do research, and they want to go see data, and they want to see what the experts
00:02:13.500 are saying.
00:02:13.960 Today, I'm sharing with you what these experts are talking about.
00:02:17.280 So, the goal is by the time you're done, you're living a busy life, you can say, okay, I kind
00:02:21.800 of have an idea what's taking place with this.
00:02:23.180 So, let's go through the timeline.
00:02:24.680 First things first.
00:02:26.000 On December 31st, China alerts WHO, which is a World Health Organization, of a flu-like
00:02:30.500 case in Wuhan, right?
00:02:31.840 We don't really know much about it right now, but at least they alerted them.
00:02:34.440 On January 1st, Wuhan market identified as the outbreak hub.
00:02:39.020 On January 5th, WHO, World Health Organization, advises against travel restrictions.
00:02:46.920 Again, against, not for it.
00:02:49.060 The same ones that said this is a pandemic advised against travel restrictions because
00:02:53.680 they were not yet too worried about it.
00:02:55.680 January 6th, SARS, MERS, and bird flu ruled out.
00:02:58.860 January 11th, first death reported.
00:03:01.420 61-year-old man went to the hospital.
00:03:03.120 On the 27th of December, he thought he had flu.
00:03:05.880 He ends up dying on January 11th.
00:03:07.800 January 13th, first confirmed case outside of China in Thailand.
00:03:11.960 January 17th, second death, 69-year-old man from Wuhan.
00:03:15.820 January 21st, U.S.'s first coronavirus case on Washington, 30-year-old man who traveled
00:03:20.140 back from China.
00:03:21.340 January 22nd, WHO declares international health emergency.
00:03:25.260 Okay, now they're taking a little bit more seriously.
00:03:27.340 January 23rd, China implements travel ban to and from Wuhan.
00:03:31.520 Wuhan's a pretty big place, pretty big city.
00:03:33.620 The whole Hubei community, around 50 million people.
00:03:35.680 So, that's a pretty big deal they announced right there.
00:03:37.800 January 29th, death toll touches 132.
00:03:41.160 5,974 cases infected, right?
00:03:45.020 January 30th, Russia closes 2,700-mile border to China.
00:03:48.780 January 30th, Russia already said no one can come here from China.
00:03:52.780 February 2nd, Trump announces travel ban to and from China.
00:03:56.340 February 7th, Chinese whistleblower doctor who tried to issue early warning dies of coronavirus.
00:04:04.080 Let me say this again.
00:04:04.840 This doctor, he's worried that this could be bigger than what they think it is, but Chinese
00:04:09.000 government is trying to prevent him.
00:04:10.720 He's a whistleblower.
00:04:11.740 He comes down and says, you guys got to be worried about this.
00:04:14.060 The same doctrines of dying.
00:04:15.740 Death toll hits 638.
00:04:17.340 February 11th, WHO gives name.
00:04:19.980 Coronavirus COVID-19.
00:04:21.800 February 19th, death toll hits 2,000.
00:04:24.380 February 22nd, Italy reports death.
00:04:26.660 78-year-old man.
00:04:27.880 Iran reports two deaths.
00:04:29.400 February 27th, Iranian VP is officially testing positive for the coronavirus.
00:04:33.580 February 29th, U.S. officially reports the first death, and Trump announces travel ban
00:04:38.300 to and from Iran.
00:04:39.760 March 3rd, 3,000 deaths toll.
00:04:41.740 WHO staff member tests positive.
00:04:44.400 This next one's very interesting.
00:04:45.480 On March 3rd, Iran releases 54,000 prisoners to prevent spread of the virus.
00:04:53.760 54,000 prisoners.
00:04:55.680 Go ahead, you're free.
00:04:56.760 This is a way of us trying to prevent the virus because everybody's in prison together.
00:05:00.920 March 9th, Italian prime minister imposes countrywide lockdown.
00:05:04.400 U.S. death toll hits 26.
00:05:06.640 March 11th, this is a big day.
00:05:08.180 WHO declares the outbreak of pandemic, and Trump extends the travel ban to and from Europe.
00:05:12.920 March 12th, Italy's death toll hits 1,000 in Italy.
00:05:18.180 And Trump, on March 13th, declares national emergency.
00:05:21.700 Death toll hits 5,500.
00:05:23.180 Today, cases, 173,000.
00:05:26.400 Death toll, 66,64.
00:05:28.140 By the time you watch this, this number's increasing.
00:05:30.440 The date I'm shooting this is Monday, March 16th is the date today.
00:05:34.620 So you can go back and look at the date.
00:05:35.960 So if you see it on another, it's a hire today for you to know how fast it's escalating.
00:05:40.340 So I'm showing this stuff to you.
00:05:41.460 How bad has it gone with events?
00:05:42.740 So many events have been canceled.
00:05:44.180 South by Southwest, Ultra Music Festival, Miami, Boston Marathon, NBA, NHL, MLB, Masters,
00:05:49.260 MLS, Coachella, Adobe, TET 2020, F8, which is the biggest Facebook conference of the year,
00:05:54.180 GDC, which is a game developers conference, Shopify, Quartz, Jury Duty.
00:05:58.520 I can give you many Apple shut down all their stores.
00:06:01.520 So many different things that are taking place.
00:06:03.520 I'm surprised the Olympics, Japan hasn't yet made any announcement.
00:06:06.820 Because what country in the next four or five months is going to feel comfortable sending
00:06:10.620 their people to Olympics?
00:06:11.660 Not many are.
00:06:12.600 So this announcement's probably coming soon.
00:06:14.460 You may watch this in May and say they've already announced it.
00:06:16.740 Then that's great because today's March 16th.
00:06:18.680 Okay.
00:06:19.400 So having said this, what is the concern?
00:06:21.760 What is some of the biggest concern that people are having?
00:06:23.740 Because when you look at the cases of the 173,000, China's number one at 80,000, say 81,000.
00:06:29.660 By the way, it's been slowing down a little bit.
00:06:31.460 Italy's number two at 24,747 because they didn't get ahead of it.
00:06:35.240 They kind of, they didn't take it that seriously.
00:06:36.920 And then boom, it's too late.
00:06:37.900 Now they have that many death toll.
00:06:39.620 Iran's at 14,991.
00:06:41.620 Spain's at 84, 87,94.
00:06:43.240 Then it's South Korea, Germany, France, US, Switzerland, then UK.
00:06:47.740 By the way, Mexico only has 53 cases.
00:06:49.920 That's why a lot of people are going to Mexico because it's one of the safest places to be
00:06:52.760 today because coronavirus can't do anything to Mexicans as of today.
00:06:57.040 Death toll by countries.
00:06:58.240 China's number one at 32,13.
00:07:00.300 Italy, 1809.
00:07:01.540 Iran, 853.
00:07:02.700 Spain, 297.
00:07:03.740 France, 127.
00:07:04.700 South Korea, 75.
00:07:06.060 US, 69.
00:07:06.860 UK, 35.
00:07:07.560 Japan, 27.
00:07:08.820 Netherlands, 20.
00:07:09.600 Again, Mexico death toll, zero.
00:07:11.560 By the way, the most interesting number everybody's looking at is the following.
00:07:15.080 South Korea has 8,236 cases and 75 deaths.
00:07:21.560 US has 3,802, half, more than half the cases, but only shy from South Korea by six.
00:07:29.120 So why is that?
00:07:29.960 What is South Korea?
00:07:30.720 You'll see a data that we'll get through here for you to take a look at.
00:07:33.600 But for those of you guys that are from US, this next data is for you to see where America's
00:07:37.300 at by cases.
00:07:38.060 Cases in America, number one is Washington.
00:07:39.700 Then it's New York, then it's California, then Massachusetts, Florida, Colorado, Louisiana,
00:07:44.040 Georgia, Illinois, and Jersey.
00:07:45.940 And death toll as far as state number one is Washington with 40.
00:07:49.640 California, 22.
00:07:50.620 Five of it's from a cruise line that came in, which would make it 27, but it's 22.
00:07:55.140 California, Florida's at four.
00:07:56.360 New York, two.
00:07:57.300 Virginia, South Dakota, Jersey, Louisiana, Kansas, Georgia, Colorado, all at once.
00:08:00.820 So I gave you the cases.
00:08:02.800 I gave you the death.
00:08:04.180 I gave you an example of South Korea and where am I going with this.
00:08:06.720 Here's one of the biggest concerns that people are having in America today.
00:08:09.500 Because in America, hospital beds, we have a total of 924,100 hospital beds.
00:08:17.260 Okay.
00:08:17.540 Of which around 600 to 650 is being used, which means we have around 300,000 available beds.
00:08:24.880 And that's concerning because what if this outbreak taking place and it goes so fast?
00:08:29.020 We're in Italy.
00:08:29.560 They don't have enough beds and enough respiratory machines to give to people.
00:08:33.460 So they're choosing who to give it to.
00:08:35.440 Don't give it to that old person.
00:08:36.600 Give it to this young person.
00:08:37.540 This person can't live longer.
00:08:38.980 That's what they're deciding between in Italy on what to do.
00:08:42.640 And America doesn't want to get to that point because of hospital beds.
00:08:45.160 So now, how do we measure hospital beds?
00:08:47.240 The way we measure hospital beds is how many hospital beds a country has per thousand people.
00:08:52.840 Watch this data here.
00:08:53.780 Who's number one?
00:08:54.380 Number one is Japan at 13.05 bets per thousand.
00:08:59.500 Number two is South Korea, 12.27.
00:09:02.340 Number three is Russia, 805.
00:09:04.220 Then you got Germany at 8.
00:09:05.440 Austria at 7.32.
00:09:07.200 Hungary at 7.02.
00:09:08.560 Czech Republic at 6.630.
00:09:10.120 Poland, 6.62.
00:09:11.100 Lithuania, 6.56.
00:09:12.860 France at 5.98.
00:09:14.740 And all the way somewhere in the bottom, US is at 2.8.
00:09:18.500 And by the way, Mexico's at 1.8.
00:09:20.100 Just to kind of give you some perspective because if this thing spreads in Mexico, they're also
00:09:23.180 not a good situation, but US is at 2.8 bets per thousand.
00:09:27.120 But first of all, I used to have a neighbor of mine that in my office in Northridge, his
00:09:31.160 entire business was hospital beds.
00:09:33.560 And he says, you have no idea how great business is.
00:09:36.420 Anybody in the hospital bed business, American hospitals are giving them calls because they
00:09:40.660 need beds today and they need them fast.
00:09:42.240 So you sit there and you think about it.
00:09:43.960 Well, how bad could this thing be?
00:09:45.640 I mean, really, when I'm looking at this, should I really be worried?
00:09:48.400 The concern with this and why a lot of people, friends of mine on the inside, today's March
00:09:53.740 16, I got information from the inside that there may be a shutting down of any kind of
00:09:57.760 domestic travel.
00:09:58.700 Trump may be coming out and making that announcement or they may even have a full-on lockdown for
00:10:03.800 a week or two just to have this virus die out and not create any momentum.
00:10:08.340 But I presume that a lot of travel coming in from Europe and Iran and any other country
00:10:12.580 is probably going to be on lockdown for a long time until they slow down their cases.
00:10:16.280 Even if U.S. slows down and takes control of the cases and other countries or not, don't
00:10:21.320 expect travel to be open to a lot of other countries for quite some time unless if they
00:10:25.900 get a hold of it as well.
00:10:26.960 Unless if they get a hold of it as well.
00:10:28.060 But having said that, let's look at compound interest.
00:10:31.140 Rule of 72.
00:10:32.540 Because if cases double at this pace, how bad could it be?
00:10:36.360 Remember, just in January 29th, it was only 5,974 cases.
00:10:42.500 That's only six weeks prior to today.
00:10:44.400 It's 173,000 cases from 5,974.
00:10:47.980 So how bad is this double effect?
00:10:49.720 This is the way I did the math.
00:10:50.960 I took it if the number of cases doubled every four days, six days, 10 days, how bad could
00:10:57.820 it be in America?
00:10:58.560 This is what it looks like.
00:10:59.940 On February 4th, we had 11 cases in U.S.
00:11:02.980 On February 11th, we had 14.
00:11:05.140 On February 25th, we had 59.
00:11:07.900 February 25th is only three weeks prior to today.
00:11:10.300 We had 59, we're at 38.02 today.
00:11:14.020 Right now, watch this.
00:11:15.280 March 3rd, 125.
00:11:16.880 From March 3rd to March 10th, it goes to 1,004, which is eight times.
00:11:22.280 Then it goes to March 16th, 38.02.
00:11:25.180 So I said, let's double these cases every four days, every six days, every 10 days.
00:11:30.280 Let's see what it looks like.
00:11:31.140 If you double the 4,000 cases every four days, March 20th, we're at 8,000.
00:11:38.280 By April 17th, we'll crack a million.
00:11:41.180 By May 2nd, we're at 16 million.
00:11:43.580 By May 22nd, everyone in America has coronavirus.
00:11:46.800 Right now, here's just something to be thinking about.
00:11:49.000 If this grows this way, if it's every six days, it's by June 30th, everyone in America
00:11:54.500 has coronavirus.
00:11:55.800 And if it's every 10 days, it's 9, 14, everyone in America is going to have coronavirus.
00:11:59.680 That is the big concern that they have on how quickly it can spread.
00:12:03.480 That's why they're making some of the big decisions that they're making today.
00:12:06.020 So now, the biggest data when I saw this, my mind automatically went to is how infectious
00:12:12.740 is this disease and how deadly is it compared to some other diseases out there.
00:12:16.960 This is what it's looking like when it comes down to infectious.
00:12:19.920 The number they look at is R0, which is a reproduction number, meaning per person that gets it,
00:12:26.440 how many people can they give this virus to?
00:12:28.840 And where does COVID rank, coronavirus rank against others?
00:12:32.540 Measles is number one.
00:12:33.760 If you get it, on average, 12 to 18 people will get it.
00:12:38.500 Smallpox, 5 to 7.
00:12:39.520 Polio, 5 to 7.
00:12:40.480 AIDS is 2 to 5.
00:12:41.980 SARS is 2 to 5.
00:12:42.740 By the way, some of these is through sexual.
00:12:44.460 Some of them is through air.
00:12:45.900 Some of them is through saliva, spit.
00:12:47.620 Some of them is through touching things.
00:12:48.880 It's different methods of getting the disease, but it's some data that I'm giving you here.
00:12:53.080 SARS is 2 to 5.
00:12:54.460 Coronavirus is 1.4 to 3.9, which means when you get it, you can give it to 1.4 to 3.9.
00:13:01.940 Influenza is 2 to 3.
00:13:03.400 Ebola is 1.5 to 2.5.
00:13:05.380 And MERS is 0.3 to 0.8.
00:13:07.320 If you do get it, how many people you can give it to.
00:13:09.060 So that's the data of how infectious it is.
00:13:11.480 How deadly it is, number one was Ebola at 50%.
00:13:13.760 Number two is MERS at 34.4%.
00:13:15.620 Number three is smallpox, 30%.
00:13:17.820 Number four is SARS at 9.6%.
00:13:20.200 Number five is COVID, coronavirus at 1%.
00:13:23.340 It's still 10 times worse than seasonal flu, but it's still 1%.
00:13:26.720 So out of 100 people that get it, 1% dies.
00:13:29.340 Now, obviously, they're talking about the data that if you're older, it's worse.
00:13:32.320 But I'm giving you data that out of 100, 1% dies with this.
00:13:36.380 So look, what does all this stuff mean to you?
00:13:37.740 I got 10 names I want you to follow of experts.
00:13:39.980 These are former CDC directors.
00:13:42.060 This is Anthony Fauzi, who's the head of National Institute of Allergy and Infectious Disease
00:13:45.880 at the Institute of Health.
00:13:47.120 I got top 10 names I want you to follow.
00:13:49.060 I'll put the link in the website that I want to send to you.
00:13:51.840 We'll just click on them and follow them.
00:13:53.380 Follow experts.
00:13:54.320 Don't follow people that are journalists who need another story to sensationalize and put
00:13:58.700 fear in you because they need you to go out there and watch them regularly so they're
00:14:02.240 able to get more advertising dollars.
00:14:03.860 These guys don't have to sell you anything.
00:14:05.300 They're just telling you the facts.
00:14:06.220 These are good people to follow.
00:14:07.140 So what does this mean to you?
00:14:08.560 What does this mean to you and I?
00:14:09.940 I did a webinar yesterday, and the way I started the webinar, everybody was wondering what's
00:14:14.560 going on.
00:14:14.880 I said, there's three things you and I need to be thinking about right now.
00:14:17.140 Number one is health.
00:14:17.860 Number two is finance.
00:14:19.100 Number three is replacing your income.
00:14:20.440 Let me explain.
00:14:20.880 Number one is health.
00:14:22.000 When it comes down to health, you have to be thinking about elderly parents, peers and
00:14:27.500 siblings, spouse, then kids, then your friends where you're working at.
00:14:31.700 Elderly parents, grandparents, peers, brothers, siblings, spouse, kids.
00:14:36.260 Right?
00:14:36.380 So when it comes down to that, you need to be doing your own research on how to prepare
00:14:40.300 for it.
00:14:40.920 How to wash your hands.
00:14:41.820 Teach your kids how to wash your hands.
00:14:43.300 Teach your family how to wash their hands.
00:14:44.980 How to get your immune system to be stronger because if your immune system is stronger,
00:14:48.860 you're in a better place.
00:14:50.200 What to not touch.
00:14:51.420 What to...
00:14:51.900 All of these things.
00:14:52.840 You need to have a serious...
00:14:53.660 Like a state of the union type of a thing with your family.
00:14:56.820 That's what you need to be doing.
00:14:57.860 Not with everybody.
00:14:59.040 With your own family.
00:14:59.700 Have that conversation.
00:15:00.520 That's number one is health.
00:15:01.380 Number two is finances.
00:15:03.180 Look.
00:15:03.780 You know, the reality is there's a few things going on today.
00:15:06.260 I remember in 2000...
00:15:07.160 I've been in the financial industry since 2001 when 9-11 happened as a Series 7 broker,
00:15:12.500 6630, all those licenses.
00:15:14.520 And there's a big difference between a market crash in 01 and 08 and today.
00:15:18.300 01, no one could have predicted it because it was two planes that flew into World Trade
00:15:23.260 Center.
00:15:23.940 And when that came down, it was war.
00:15:26.300 You couldn't have said, on 9-11 at such and such time, 6.30 a.m. Pacific Standard Time.
00:15:31.200 No, you couldn't have said that.
00:15:32.340 It happened.
00:15:33.020 We're shocked.
00:15:33.500 Wait a minute.
00:15:33.800 What just happened?
00:15:34.780 Brought the entire country together.
00:15:36.280 Right?
00:15:37.160 Then in 2008, greed got the best of everybody because it's kind of, oh, this is going to
00:15:42.460 be like this forever and no income, no assets, and you can buy real estate.
00:15:45.300 I'm going to be a million.
00:15:46.080 I'm going to be worth 50 million, 100 million.
00:15:48.140 No, I don't believe this stuff.
00:15:50.140 China's always going to buy the paper on the back and we're going to be okay.
00:15:53.340 That was greed.
00:15:54.200 So the first one was surprise.
00:15:55.820 The second one was greed.
00:15:57.320 This one, you can prepare for.
00:15:58.860 This is more like a hurricane.
00:16:01.800 This is not something that you couldn't be prepared for.
00:16:04.540 This is a hurricane.
00:16:05.580 The data tells you it's coming.
00:16:07.520 So the way you react to it protects your finances.
00:16:10.220 So for instance, in 08, we had people that had their 401k, $700,000, it dropped to $350,000.
00:16:15.860 Market tanked 38% in a year.
00:16:18.140 And it was like, wow, I'm still going to stay one more day, one more day, one more day.
00:16:21.700 Market's going down.
00:16:22.600 Depending on the age you are, you have to look at the way you've allocated your funds.
00:16:26.880 You have to look at the way your parents have allocated their funds.
00:16:29.420 And you have to look at the way your grandparents have allocated their funds and how much equities
00:16:33.360 they have today.
00:16:34.100 Because maybe somebody above 60 shouldn't be in equities as much as they are today.
00:16:38.240 Because this is not going away in the next week.
00:16:41.280 This is not going away in the next two weeks.
00:16:43.240 This is probably going to be going on for the next four, eight, 16 weeks.
00:16:46.460 Look, this is the data we have today.
00:16:48.460 All this data could be changing tomorrow.
00:16:50.320 It could get worse.
00:16:51.280 It could get better.
00:16:52.040 It could get all that.
00:16:52.780 But you have to be prepared for worst case scenario.
00:16:56.020 And you have to anticipate.
00:16:57.300 You have to prepare.
00:16:58.000 And you have to execute your strategy.
00:16:59.840 And be nimble enough to make any kind of adjustments if numbers change.
00:17:02.740 So number one is health.
00:17:03.880 Number two is finance.
00:17:04.740 Number three is replacing an income.
00:17:06.900 There are a lot of people that are getting fired today.
00:17:08.620 And many more will be.
00:17:10.220 There are many, many people that are going to get fired over the next two, four, eight weeks.
00:17:13.420 Because companies are going to sit there and say, we simply don't need people like airlines.
00:17:17.680 If airlines shut down for four weeks, what are they going to be doing?
00:17:21.360 What are pilots going to be doing?
00:17:22.400 What are they going to be doing?
00:17:24.080 They can't go to another place and work.
00:17:25.480 They have to be thinking about this.
00:17:27.280 If you're working in a hotel, hotels.
00:17:28.900 If you're working at Apple, Apple shut down.
00:17:31.080 Apple's not going to just pay salary to everybody.
00:17:33.020 You have to be thinking about what is going to be happening.
00:17:35.520 And you have to figure.
00:17:36.240 You still have to figure out a way to make money on your own.
00:17:38.960 You know, Kai was saying something earlier today.
00:17:40.760 He says, do you think this is going to cause us to get back to the point where you can only really rely on your own income?
00:17:46.960 I said, that's how it's always been.
00:17:48.360 But we've conditioned people to think they can rely on somebody else to support them as a government.
00:17:52.840 People are going to be forced to learn how to make money today.
00:17:55.940 They're going to be forced.
00:17:56.700 And there's still opportunities out there.
00:17:58.400 But you've got to be thinking about it.
00:17:59.500 As far as investments and opportunities goes.
00:18:01.540 If you're sitting on a lot of cash.
00:18:03.000 Cash, the next four, eight, 16 weeks, baseball cards, real estate, you know, collectible cards, paintings, artifacts, you know, stocks in different industries.
00:18:13.860 Whether it's airlines, hotel management, so many different places today.
00:18:18.120 To have, if you've been disciplined enough to have cash.
00:18:20.940 This is a great time for you.
00:18:22.040 If you are.
00:18:22.920 So, health, finance, replacing your income.
00:18:26.140 Now, let's set that part aside.
00:18:27.140 Let me give you the final thoughts here on how I'm processing it.
00:18:29.460 We're in L.A.
00:18:30.980 And I'm in L.A. last week because I have a board meeting.
00:18:33.600 And I go in with my wife and I take my kids because it's spring break for the kids.
00:18:36.940 I said, we'll go there.
00:18:38.120 I'm going to visit offices like I always do.
00:18:40.760 And then we'll do our board meeting on Monday.
00:18:42.580 And we'll go to church.
00:18:43.480 We'll visit family.
00:18:44.440 We'll visit mom, everybody.
00:18:45.840 And then we'll come back.
00:18:46.500 Great.
00:18:46.780 We fly in.
00:18:47.920 One of my main board members says, I can't fly out.
00:18:50.060 Why not?
00:18:50.700 I'm worried about coronavirus.
00:18:51.980 Really?
00:18:52.240 Yes.
00:18:53.140 He's in his late 60s, early 70s.
00:18:55.320 Totally understand.
00:18:56.280 Totally get it.
00:18:57.140 Then another board member coming in from Connecticut.
00:18:59.100 I'm concerned.
00:19:00.080 Why?
00:19:00.760 If I come to L.A., my mom and dad are going to get ticked if I don't go visit them.
00:19:03.820 And if I visit them, I don't want to give them something I got.
00:19:05.840 My immune system can't handle it.
00:19:06.940 But these guys are in their 80s.
00:19:07.960 They can't.
00:19:09.020 I get it.
00:19:09.800 No problem.
00:19:11.200 But I'm in L.A.
00:19:12.860 And I'm staying at Beverly Hilton.
00:19:14.780 Okay?
00:19:14.980 And I'm sitting there saying, okay, what are we going to be doing?
00:19:17.420 I said, babe, we were planning on going to Universal Studios and visiting friends and family
00:19:21.240 there.
00:19:21.440 We're not going to be doing that.
00:19:22.500 Parks are shutting down.
00:19:23.820 Disney, Disney World.
00:19:25.240 Universal Studios is probably next.
00:19:26.680 So we have to go back to Dallas.
00:19:28.160 We don't need to stay here.
00:19:29.000 And it's raining, pouring.
00:19:29.940 She's like, you want to tell the kids?
00:19:31.260 I said, yeah.
00:19:31.880 I said, Tico Dillon said, I got to talk to you guys.
00:19:33.700 And they come in.
00:19:34.220 They're like all seriously lined up like this, you know.
00:19:36.740 And I said, look, we're not going to Universal Studios today.
00:19:40.160 What?
00:19:40.900 Yeah, we're not going to.
00:19:41.720 Why not?
00:19:42.440 I said, there's a virus going around called coronavirus.
00:19:46.360 And we haven't yet found a solution for it.
00:19:48.400 You know how sometimes you have a headache or you have a pain or an itch and we put some
00:19:51.540 ointment or something that goes away.
00:19:52.820 Yeah, they don't yet have the solution for this.
00:19:55.340 And once they figure it out, things are going to go back to normal.
00:19:57.720 And then we'll see what will happen.
00:19:58.640 So my oldest son is like, you know, dad, do you think we can come up with a solution
00:20:03.700 for coronavirus?
00:20:04.820 Because what if we mix these two different medicines?
00:20:07.440 His brain goes to automatically trying to.
00:20:09.200 He just thinks that way, right?
00:20:10.920 And then after some conversation, they accepted the fact.
00:20:13.360 I said, if coronavirus, we find a vaccine, can we come back to Universal Studios?
00:20:17.720 I said, of course we can come back.
00:20:19.060 Awesome.
00:20:19.540 Great.
00:20:20.000 Can we go watch a movie?
00:20:21.040 They want to watch a movie.
00:20:21.900 So then I called my mom.
00:20:23.380 I called my dad.
00:20:24.020 I gave everybody the information on how to be prepared because that's what you're supposed
00:20:27.240 to be doing.
00:20:27.600 Then we came back to Dallas.
00:20:28.920 But I told my wife on a flight back.
00:20:30.420 I said, babe, what is the only way this is going to slow down?
00:20:34.340 What is the only way this is going to slow down?
00:20:35.440 So we came back.
00:20:36.020 The first thing I did Saturday, I got in, I came to the office.
00:20:38.000 Early in the morning, I was at the office.
00:20:39.460 I spent 79 hours just researching.
00:20:41.280 I left the office at 7.30 on Saturday night.
00:20:43.200 8 o'clock on Saturday night.
00:20:44.700 I was here all day.
00:20:46.120 So I pulled up all this data.
00:20:47.240 I was worried about how infectious it is.
00:20:48.760 I was worried about how deadly it is.
00:20:49.940 I was worried about the hospital beds.
00:20:51.120 I'm kind of looking at how it's going to be if it doubles and how we need to be prepared for it.
00:20:54.380 But I told my wife, I said, babe, here's probably the best thing we need to
00:20:57.840 be thinking about.
00:20:58.400 What's that?
00:20:59.380 We have to accept the fact that many people are going to get coronavirus.
00:21:04.120 It could be somebody in our family.
00:21:05.460 It could be some of our friends.
00:21:06.640 It could be some of our coworkers.
00:21:08.460 The odds are people are going to get it because if these cases go into millions,
00:21:11.500 if it's at 173 and it was at 5,600 just a couple months ago, just a few weeks ago,
00:21:16.680 this thing's going to go into millions in no time.
00:21:18.620 And we just have to accept it.
00:21:20.360 It's kind of like, well, people have this and people have that.
00:21:23.460 And then from there, you have to study people that are in quarantine,
00:21:26.360 that are going through a recovery mode, and we have to see what they're doing.
00:21:29.180 They're going to give us data and intel.
00:21:31.240 And when we get that data and intel, because they're saying right now it's going to take 18 months
00:21:34.140 to get a vaccine for this.
00:21:35.480 Some are saying, Faust, you already found something, but nobody knows because every day
00:21:38.660 we're learning new things about this.
00:21:40.320 I said, but I'm relying on innovators and problem solvers and entrepreneurs to fix this.
00:21:45.280 When Trump got up and he announced and he says, Google's here, CVS is here, Walmart's here,
00:21:49.280 that's all the entrepreneurs that are coming together figuring out a way to solve this problem.
00:21:52.520 Because I've told you for many, many years, entrepreneurs are going to solve world's problems.
00:21:57.740 And I've told you, cash is king and today's times validates both.
00:22:01.020 Even the administration is leaning on innovators to find a solution for this.
00:22:05.660 And they're getting the scientists and the brilliant minds to see what can we do about this kind of stuff.
00:22:09.500 But in every single bad time you and I have been a part of.
00:22:12.960 When I was in Iran, we were getting bombed on.
00:22:16.240 And one moment it was bad.
00:22:17.540 It was just like, it seems like 15 of them hit in a span of five minutes.
00:22:21.160 And you were just hearing all these.
00:22:22.620 And we're under the stairs.
00:22:23.980 We're hiding here.
00:22:24.660 It's a four-story building.
00:22:25.720 We're under the stairs because this is metal.
00:22:27.540 Every time the buildings would come down, you would look.
00:22:29.680 The place that would always stay is under the stairs all the way at the bottom.
00:22:33.200 So we're hiding there.
00:22:33.880 Me, my mom, my dad, my sister.
00:22:36.320 And here's what I did.
00:22:36.980 As a six-year-old, I remember it until today.
00:22:38.200 I look up on my dad.
00:22:40.000 And I'm looking at him.
00:22:41.460 And I'm like, how come he's not worried?
00:22:44.620 Not crying.
00:22:45.460 My mom's crying.
00:22:46.340 My sister.
00:22:46.920 I'm crying.
00:22:47.200 We're working.
00:22:48.600 Man, if the man of the household is not worried, huh, maybe I shouldn't be.
00:22:54.380 And we thought we're going to die.
00:22:56.460 And we can control anything.
00:22:58.020 We went to Karaj, bombed.
00:22:59.600 Rasht, bombed.
00:23:00.620 Bandar Pallavi, bombed.
00:23:01.560 Every city we went to, they were bombing.
00:23:04.020 So it's not like, it's a surprise attack, right?
00:23:06.240 It's like 9-11.
00:23:07.660 But I looked at him, and he gave me strength.
00:23:11.040 Fast forward 35 years later, I remember that.
00:23:13.800 As a 41-year-old with three kids and a wife and a family and two companies I'm running,
00:23:17.720 I'm thinking about that moment.
00:23:19.080 So for you, what does this mean to you?
00:23:21.460 I don't know why it is.
00:23:23.140 Crisis tends to give birth to new leaders.
00:23:25.380 I don't know why it is.
00:23:26.640 Crisis tends to give birth to new heroes and families.
00:23:29.800 Everybody today is panicking.
00:23:31.460 Many people are panicking today.
00:23:32.860 Whether they're the naive, the irresponsible, the ignorant, they're panicking today.
00:23:36.940 But also, every family, every community, every country, every city, every company has somebody
00:23:41.800 that comes in with data, and they bring strength and confidence with execution there.
00:23:46.660 Those end up coming out of this, and everyone leans on them as these are the leaders.
00:23:51.240 So this is a chance for you to be in your family a leader, in your company a leader,
00:23:55.760 in your community a leader.
00:23:57.100 A leader doesn't mean they don't do due diligence.
00:23:58.720 A leader doesn't mean they're not looking at how serious it is.
00:24:00.520 This is not a hoax.
00:24:01.240 This is real.
00:24:01.700 A part of a leader's responsibility is to go get the data for them, so they can send
00:24:06.320 it to people that are around them.
00:24:07.540 So if you do that, and things eventually end up getting better, we can look back and say,
00:24:12.380 wow, man, we learned a lot from this.
00:24:14.360 We can definitely no longer have 2.8 bets per thousand.
00:24:17.080 We can definitely not be...
00:24:18.260 We have to be prepared for these times, and we're going to get smarter.
00:24:22.040 Thanks, everybody, for listening.
00:24:23.640 And by the way, if you haven't already subscribed to Valuetainment on iTunes, please do so.
00:24:28.200 Give us a five-star.
00:24:29.580 Write a review if you haven't already.
00:24:31.100 And if you have any questions for me that you may have, you can always find me on Snapchat,
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00:24:36.920 Just search my name, PatrickBitDavid, and I actually do respond back when you snap me
00:24:41.800 or send me a message on Instagram.
00:24:43.800 With that being said, have a great day today.
00:24:45.600 Take care, everybody.
00:24:46.340 Bye-bye.
00:24:46.600 Bye-bye.