Valuetainment - December 07, 2020


Reaction to Kid Who Sold 200 PlayStations for $40K Profit In A Week

Hosted by
Patrick Bet-David
Mentioned
Clip John
Cartel Corruption Explained by Mexican Crime Expert - Ed Calderon Reaction to Governor Newsom Shutting Down Small Businesses

Episode Stats


Length

3 minutes

Words per minute

216.04

Word count

670

Sentence count

64


Summary

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

How to make money no matter how bad the economy is, there are always ways to make a profit. It's all about perspective. Pat McAfee shares a story of how he made $40,000 in one week selling $100,000 worth of PlayStation.

Transcript

Transcript generated with Whisper (turbo).
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00.000 You know I get messages people say Pat it's so hard making money today. You don't understand how
00:00:03.960 tough things are. I'm struggling so bad and look I understand you're struggling but no matter how
00:00:08.620 bad the economy is there's always ways to make money. Always. I just heard a story a couple
00:00:14.200 days ago. Kid, 21, 22 year old kid ends up going on the day PlayStation comes out buys 221 Playstations
00:00:21.340 sells it a week later makes $40,000 in one week. Let me say this one more time. He buys 221
00:00:27.940 Playstations for $499 a piece. A week later on eBay he sells each of them between $700 to $1,000
00:00:35.620 makes $40,000 in one week. Now somebody may say you're watching and saying Pat I don't have $100,000
00:00:42.420 to buy 200 Playstations. Can you buy 20? Can you buy 2? Can you buy 10? Let me give you a story about
00:00:48.900 myself and what happened years ago. I leave Morgan Stanley Dean Witter. When I leave Morgan Stanley
00:00:53.680 Dean Witter they didn't get my license up. It took six months for me to get my license.
00:00:56.800 There was a product back then before there was smartphones. This is old school when there was
00:01:02.460 no such thing as speakers. The phones didn't have speakers. This is 2001, 2002 we're talking about.
00:01:08.520 This product came out called Clip and Talk. These Clip and Talks you would clip on your phone here
00:01:14.520 okay you'd press a button on the Clip and Talk then you go to radio station 88.7. The speaker would go to
00:01:22.220 your car and you would put it such a old school ghetto product but people were fascinated by it.
00:01:29.600 This is how it would sell out. I would get in the car and say hey John take a look at this. Give me
00:01:32.060 your phone. How would you like it if you can hear whoever calls you off the radio? Oh my gosh I'd be
00:01:36.240 crazy. I said check this out. Here's a Clip and Talk. You put it here 88.7 make a phone call. Hey mom
00:01:41.360 oh my gosh mom I can hear you. People were blown away but the guy was trying to sell me a thousand
00:01:46.540 of them. I couldn't buy a thousand of them but I could buy 50 of them. I bought 50. I sold them all.
00:01:51.140 I bought them for five bucks a pop. Sold them for 20 bucks a pop a day. I sold all of them. Came back
00:01:56.260 bought a couple hundred. Sold them back. Came back bought a thousand. I sold them back. That's how I
00:02:01.120 made money in one of the months when Morgan Stanley Dean would have wasn't giving me my license so I
00:02:06.820 couldn't go transfer. They were taking their time with it. Again moral of the story. Hustlers are
00:02:11.660 going to find millions of one legal ways to make money. The biggest challenge is most people look
00:02:17.980 at this and they say oh my gosh PlayStation's coming out. I'd love to buy to go play PlayStation.
00:02:23.760 And a few say oh my gosh PlayStation 5 is coming out. Everyone's going to want to buy it. It's going
00:02:29.540 to sell out. You know what? I'm going to buy 50 and I'm going to sell it on eBay for $300 more.
00:02:34.460 It's all perspective. It's all mindset. So this is why with 2021 being around the corner for you
00:02:40.720 there's only one video I want you to be thinking about to watch for 2021. I did a video titled 20
00:02:45.720 biggest mistakes people make when it comes down to their business planning. If you really want your
00:02:51.200 2021 to be better than 2020 by a mile and you don't want to leave it to luck go watch this video
00:02:56.980 that talks about the 20 biggest mistakes people make when it comes down to business planning. And if
00:03:02.480 you've not subscribed to the channel please do so. Have a great week everybody. Take care. Bye bye.