Valuetainment - May 11, 2020


Episode 465： Stop Bailing Out Big Companies


Episode Stats

Length

4 minutes

Words per Minute

179.68962

Word Count

880

Sentence Count

60


Summary


Transcript

00:00:00.000 You know, one of the biggest debates that's going on right now during these pandemic times
00:00:25.360 is should we let these big companies go out of business or should we bail them out?
00:00:29.040 Should the government come out and cut a 10 billion dollar check, 20 billion dollar check
00:00:33.380 and help these companies not go out of business?
00:00:35.980 They're too big to fail companies similar to what happened in 2008.
00:00:39.600 And some are saying no, some are saying yes, we should bail them out.
00:00:43.280 And some who are saying no are saying, well, wait a minute, this is not capitalism.
00:00:48.220 This is a form of socialism to the big companies because you're not letting the smaller guys
00:00:53.460 who have state discipline, maybe they've stayed liquid, maybe they're trying to compete,
00:00:57.340 maybe they're better for the customers, maybe they're trying to offer a better proposition
00:01:01.120 for their products.
00:01:01.920 You're not allowing them to compete with the bigger guys.
00:01:05.320 Let this cycle take its place.
00:01:07.840 Let it take its course.
00:01:09.360 If somebody else has more money that they've said, they should buy them out.
00:01:12.760 And these guys ought to go out of business and their customers will go elsewhere.
00:01:16.120 We should let that take place.
00:01:17.560 Who's right?
00:01:18.140 You know, when you see, I lived in L.A. for a long time, 24 years, you would always see
00:01:24.440 forest fires and it was always a concern.
00:01:27.180 And there's two different kinds of forest fires.
00:01:29.200 There's a kind of forest fire that kids do.
00:01:32.000 They go out in the forest, they're playing around and they, you know, messing around with
00:01:36.200 a match or cigarette or they're doing something fire.
00:01:38.740 That's man-made fire.
00:01:40.160 But there's a natural forest fire.
00:01:42.400 And if you talk to people who study nature, they will tell you natural forest fire is
00:01:48.800 needed.
00:01:49.660 Now, why is natural forest fire needed?
00:01:52.060 Why would anybody want to have a natural forest fire?
00:01:55.040 Here's why.
00:01:56.140 Because if you ever go in a forest that's filled with these massive trees and you're walking,
00:02:01.780 you don't get a lot of sunlight.
00:02:03.680 It's dark.
00:02:05.100 The trees are covering everything.
00:02:07.620 Sun is a form of nutrient.
00:02:09.560 Not everything else out here is getting the sun.
00:02:11.600 The trees all the way at the top are getting the sun, not the ones below.
00:02:15.600 What do you mean by this, Pat?
00:02:17.120 Well, sometimes you need to have forest fire.
00:02:19.140 Why?
00:02:19.780 If you look at before and after pictures of natural forest fires, you will notice how immediately
00:02:25.040 within days, boom, beautiful green all the way in the bottom, everywhere.
00:02:31.700 What is going on over here?
00:02:33.520 Those are the small business owners who are finally getting the sun.
00:02:37.140 While the entire time, these two big to fail companies have been getting all the sun, now
00:02:43.840 it allows the next tree to come out.
00:02:46.000 All those deep roots that are sucking all the nutrients, all of them to themselves, these
00:02:51.580 other small trees couldn't compete.
00:02:53.580 Now the small trees can compete with the bigger trees.
00:02:55.820 This is a cyclical cycle.
00:02:57.620 This happens regularly.
00:02:58.700 This is why you constantly hear about stats of 60% of Fortune 500 companies from 1970 are
00:03:04.100 not around anymore.
00:03:05.060 This happens over and over and over again because somebody may have a better proposition
00:03:11.880 today.
00:03:12.420 So where am I going with this?
00:03:13.460 Stats.
00:03:16.060 Small business owners in America.
00:03:17.580 Small business owners are somebody that employs less than 500 people in their company.
00:03:21.660 Small business owners in America employ 59 million people in America.
00:03:25.840 Nearly 47% of all jobs in America are provided by small business owners.
00:03:32.260 And some tells me times like this, maybe we are going through the process where some of these
00:03:37.580 businesses need to go out of business and make some room for the new entrepreneur, the small
00:03:43.300 business owners to come up and get access to that sun because maybe they have a better
00:03:48.440 proposition to the customer that's better than the bigger guys who for years been getting
00:03:53.600 bailed out by governments that give them money saying, hey, don't worry about it.
00:03:56.780 I know you're a lobbyist behind closed doors.
00:03:58.600 You're helping them out with my election.
00:04:00.380 Let's make sure we bail these guys out.
00:04:02.160 Let's make sure we bail these guys out.
00:04:04.120 Maybe it's time we let these guys go out of business.
00:04:06.740 So the next generation of entrepreneurs, the next generation of small business owners
00:04:11.640 starts getting an opportunity to have a better product, better service, better propositions
00:04:17.440 for the customers.
00:04:18.980 So the next time you hear about this whole thing of too big to fail, let's bail them out.
00:04:25.000 Maybe it's okay for some of these guys to go out of business.
00:04:28.380 What do you think about it?
00:04:29.560 Thanks everybody for listening.
00:04:30.780 And by the way, if you haven't already subscribed to Valuetainment on iTunes, please do so.
00:04:35.140 Give us a five star, write a review if you haven't already.
00:04:38.320 And if you have any questions for me that you may have, you can always find me on Snapchat,
00:04:42.300 Instagram, Facebook, or YouTube.
00:04:44.260 Just search my name, Patrick Bid David.
00:04:46.200 And I actually do respond back when you snap me or send me a message on Instagram.
00:04:51.020 With that being said, have a great day today.
00:04:52.820 Take care everybody.
00:04:53.580 Bye-bye.
00:04:53.820 Bye-bye.