Valuetainment - July 28, 2022


Why Being Lukewarm Destroys Businesses

Hosted by
Patrick Bet-David
Mentioned
Lukewarm Patrick
Another 2008 Housing Crash - Or Worse？ Real Estate Bubble Explained California, This Video May Trigger You - Watch At Your Own Risk

Episode Stats


Length

7 minutes

Words per minute

230.94

Word count

1,649

Sentence count

158

Harmful content

Toxicity

1

sentences flagged


Summary

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

Pat McAfee is a former NFL player who left a $400B company to start his own insurance company. He talks about why he left the company and how he was able to start and run his own business.

Transcript

Transcript generated with Whisper (turbo).
Toxicity classifications generated with s-nlp/roberta_toxicity_classifier .
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00.000 So it's September of 2009, I'm 30 years old, I just started my own insurance company, and I get sued within 30 days by a $400 billion company.
00:00:08.920 And this company that sues me, the company that I left, they had their lawyers start recruiting others, having meetings with folks that were working with me to give some dirt to them.
00:00:18.380 And there was this meeting, and one of our guys, without telling me, goes to this meeting, there's 17 other people there, the lawyers are asking questions, everybody's saying what they're saying,
00:00:27.180 and this guy comes to my office, that night, he says, Patrick, there was a meeting today you didn't know about.
00:00:33.280 Here's what the lawyers have been doing.
00:00:35.200 I got the recording of the entire conversation of what everybody said about you, and I'm giving this to you to show you how loyal I am to you.
00:00:42.280 Anyways, I'll tell you in a minute what I did with that recording, and why this message has to do with winning at the highest level.
00:00:48.300 By the way, if you get value out of this video, give it a thumbs up and subscribe to the channel, so let me get right into it.
00:00:52.120 So, he comes to me and he says, here's what's going on.
00:00:55.740 Now, here's what's going on at that time, like, company-wise.
00:00:58.100 I had been with the company for seven and a half years.
00:01:00.240 I loved the company.
00:01:01.080 I never wanted to leave the company.
00:01:02.300 I wanted to be the CEO of the company.
00:01:04.020 I held meetings.
00:01:04.880 I met with the CEOs.
00:01:05.780 I met with every C-suite.
00:01:06.680 I met with their lawyers.
00:01:07.180 I flew out to Atlanta.
00:01:08.660 I talked to entire lawyers, legal, everybody.
00:01:11.160 I had a meeting with everybody I could.
00:01:13.100 They came.
00:01:13.520 They met with me.
00:01:14.160 I met with them at hotels at midnight to let them know I don't want to leave.
00:01:18.720 I'm not a coward.
00:01:19.420 I have those meetings with people.
00:01:21.380 Then I took my pastor with me to Pebble Beach.
00:01:24.080 I said, I want you to meet these people.
00:01:25.900 They're good people, but I want to know what I need to do next for the rest of my life.
00:01:29.740 It took me 12 months to make my decision until I finally made my decision to leave.
00:01:34.220 At that point, everybody knew where Pat stood.
00:01:36.660 There was a meeting that took place, I think, in Diamond Bar, and everybody's in the room.
00:01:40.240 It was the biggest players who were all about to leave.
00:01:42.440 They were upset with the company.
00:01:43.480 I sat there and I said, guys, if you're all here, I'm telling you what I'm doing next.
00:01:48.000 Here's where I'm at.
00:01:48.800 Everybody knew.
00:01:49.520 I had a meeting with one of their leaders.
00:01:51.920 He was the main leader at the time in Hawaii.
00:01:55.280 We're sitting there and I said, I want to ask you some questions and I want you to answer
00:01:58.480 me and I want you to look at me in my eyes.
00:02:00.840 He said, the sun is in my face.
00:02:02.020 I said, let's switch seats.
00:02:02.780 We switch seats.
00:02:04.380 I said, I get a feeling you're just milking the cash that you're making here, but you
00:02:09.240 don't love this business.
00:02:10.720 I get a feeling you don't have a vision where you want to take this next.
00:02:13.600 I want to have this conversation with you.
00:02:14.940 Where's this company going to next?
00:02:16.140 An hour later, there's a bunch of people sitting around the pool trying to see what
00:02:19.300 this meeting is going to be like and eventually, after asking enough questions, said, yeah,
00:02:23.940 I really don't know where we're taking this company next.
00:02:25.720 I said, I can't do that because I know exactly where I'm going and then boom, next thing
00:02:29.500 you know, six months later, I start my own insurance company.
00:02:31.420 Anyways, these guys sue me, $400 billion company.
00:02:35.240 No hard feelings.
00:02:36.440 They're supposed to sue me because I was a player who left and I was one of the top guys
00:02:40.580 there and I'm starting, I'm a threat.
00:02:42.800 They're supposed to do that, trade secrets, all these things that they're going to do.
00:02:45.200 Eventually, we settled, no issues eight months later.
00:02:48.060 Didn't take clients, didn't take anything.
00:02:49.560 We started our own business.
00:02:50.820 Went our separate ways.
00:02:51.660 We haven't had any issues for 13 years.
00:02:53.940 So, but this guy shows up to my office and he says, Pat, what everybody said in that meeting
00:02:59.800 is in this recording.
00:03:01.000 You should hear what they said about you.
00:03:03.900 You should hear what this lawyer asked about you.
00:03:07.360 And he hands it to me and I look at it. 0.91
00:03:09.380 I'm like, boom, throwing the trash right in front of him.
00:03:14.400 He said, how could you do that?
00:03:15.720 I said, what do you mean?
00:03:16.820 He said, you don't want to know what people said about you?
00:03:18.320 I said, zero.
00:03:19.760 He says, why not?
00:03:20.620 I said, why do I want to know what they said about me?
00:03:23.180 I said, see, the way I make a decision, I take a long time before I say I'm out.
00:03:29.820 But when I'm out, I'm out.
00:03:31.340 I'm not playing around.
00:03:33.160 And I don't, I value my time a lot and I value you a lot.
00:03:36.960 Meaning, if you don't see value in having a friendship with me or business relationship
00:03:41.440 with me, I'm not a beggar.
00:03:43.280 I'm not in the convincing business.
00:03:45.480 You're either in or you're either out.
00:03:47.840 I don't play the lukewarm game.
00:03:49.880 We're either going to take over the world together or we're not.
00:03:51.820 And by the way, I don't think I'm the last person in the world that's going to do something
00:03:55.120 big.
00:03:55.620 The market's got 8 billion people, 330 million people in America.
00:03:59.440 There's plenty of market.
00:04:00.600 But this is what I'm going to be doing.
00:04:02.780 Here's where I'm going.
00:04:03.980 You want to do something?
00:04:05.000 Let's go.
00:04:05.740 If you're somebody that's at a season of your life that you don't want to light it up, you
00:04:08.480 just want to kind of be relaxed and kicking back, not giving your best, it's not the season
00:04:11.860 where I'm in.
00:04:12.700 I'm going to go play ball.
00:04:14.620 Pat, there's no way you're not going to listen to this.
00:04:16.880 I'm not going to listen to it.
00:04:17.920 I'm telling you, I'm not going to listen to nothing.
00:04:19.320 I never once listened to it.
00:04:21.080 By the way, when I left, I got stacks of letters that people send me.
00:04:27.320 I never opened them.
00:04:28.580 I don't want to read them.
00:04:31.600 I don't, nothing.
00:04:33.000 I'm gone.
00:04:34.020 You know, so I'm like, oh, let me check what this former employee is doing on Insta stories
00:04:37.460 or Facebook or Snapchat or whatever it is.
00:04:40.260 I don't follow any of it.
00:04:42.240 I wish everybody the best.
00:04:44.360 I'm a capitalist.
00:04:45.480 As a capitalist, I think the market's massive and I'm very confident in my abilities on what
00:04:50.400 I'm going to be doing.
00:04:51.220 If I don't treat somebody right or if I don't do something right strategy-wise, the market's
00:04:55.820 going to hurt me and it's my fault.
00:04:57.460 I totally get it.
00:04:58.180 I'm a big boy.
00:04:59.140 I get it.
00:05:00.280 But I don't want to constantly live that.
00:05:02.580 I'm moving on.
00:05:03.780 And by the way, you know what's crazy?
00:05:05.480 If people do it the right way and you kind of, you know, you're going through the real
00:05:09.360 way, you're able to sit down kneecap to kneecap, have conversations like that.
00:05:12.060 I salute you.
00:05:13.640 Years later, those people, the person that I had a conversation with, Hawaii, called
00:05:16.660 me and, hey, I apologize.
00:05:19.140 I said, yeah, dude, we're over it.
00:05:20.520 Let's just move on.
00:05:21.840 And I had those conversations over and over and over again.
00:05:25.000 But the moral of the story to you is this.
00:05:28.340 Listen, hot or cold, you want to do it?
00:05:32.000 Let's go.
00:05:32.700 You don't want to do it?
00:05:33.620 Let's not go.
00:05:34.880 Lukewarm?
00:05:35.480 I'm not doing it.
00:05:37.160 I'm patient until you're fully in.
00:05:39.340 But if you're in, let's go.
00:05:40.600 So some of you guys dwell too much on the past.
00:05:45.020 Some of you follow your exes way too much.
00:05:48.080 You're not together no more.
00:05:49.520 Stop following your ex on Insta stories and Snap.
00:05:53.460 Create a fake profile to see what they do.
00:05:55.460 Stop doing that.
00:05:57.040 You're not together.
00:05:58.060 Move on.
00:05:58.620 Something happens next 6, 12, 24 months.
00:06:00.360 Maybe it does.
00:06:01.300 Many of these guys that I didn't do business with, one of the people that was in there
00:06:04.880 that said a lot of bad things about me according to what this guy that came and told me about,
00:06:08.780 that person's not working with me.
00:06:10.920 We saw each other in Cancun.
00:06:12.720 She ran up to me.
00:06:14.020 Hugged me.
00:06:14.620 We had the best conversation.
00:06:16.000 It was emotional, both of us.
00:06:17.800 Because she herself said, Pat, listen, I was delusional.
00:06:21.540 We had some challenges at that time.
00:06:23.140 I was being fed a lot of different things.
00:06:24.920 But you never once mistreated me, my husband, or my family.
00:06:28.600 I'm so glad we're in business together.
00:06:29.820 I said, awesome.
00:06:31.060 Awesome.
00:06:31.580 If I'm good, market's going to favor me.
00:06:33.000 If I'm not, it's not going to favor me.
00:06:34.280 Then I deserve it, right?
00:06:35.740 But message to you is this.
00:06:37.420 If you're in, go in.
00:06:39.840 If you're working with people that are in, and you're in a phase of your life that you
00:06:42.940 want to do something big, go all in.
00:06:45.280 Lukewarm hasn't served anybody.
00:06:48.420 There's not a single person that's favored or won in business from being lukewarm.
00:06:52.520 Anyways, if you got some value out of this lukewarm message that I gave you about the
00:06:57.240 lawsuit I experienced in 2009, give it a thumbs up and subscribe.
00:06:59.740 There's a video out there we made a year and a half ago, two years ago, titled How to Reach
00:07:04.060 Your Full Potential.
00:07:04.940 If you've never watched it, click over here to watch it.
00:07:07.320 Take care, everybody.
00:07:08.160 Bye-bye.