Summary
➡ The speaker discusses a range of topics including the hacking issue faced by Fidelity Financial, complaints about the real estate deal-making process, California’s controversial law proposal regarding job applications and past criminal records, the impossibility of housing affordability in the future, personal finance advice, inconsistent economic forecasts, the struggles faced by small businesses and restaurants, Wayfair’s comeback to profitability, and the surprising operating model of Domino’s Pizza.
➡ The text discusses the strategy of maximizing profits from existing resources, using the example of Domino’s. It also highlights a rise in New York hotel prices due to an Airbnb ban and an influx of migrants, and concludes with a humorous anecdote about unacceptable personalized license plate requests in Illinois.
Transcript
But. Okay, first things first, guys. This is from SAC, though, and they’re an investment firm. They are predicting that a couple of things are going to happen. Oil is going to hit $150 a barrel. Ouch. Okay. But Saudi Arabia is going to buy a bunch of soccer teams. Okay, so football teams, as they call them in Europe and Ozempic, the weight loss drug is going to be such a crisis for people taking it that you’re going to see so many thin people have health issues because they don’t exercise.
Okay, well, everybody wants a shortcut. Remember that capitalism will end in the United States of America. Okay. It’s a little crazy. Okay. Now this one, I totally believe AI is going to create major security problems around the world, which I totally believe that one also, okay. And deficit countries, countries that are upside down financially are going to get together and form their own group to negotiate things. And it’s going to be called the Rome club.
Okay? Hey, listen, we don’t have any money. You’re going to listen to us. Okay. We got a group of homeless people that want to talk to you as well, too. So you can negotiate that any way you want, guys. Any way you want. Okay. President. Who’s going to be president of the United States? November 5, 2024. Who’s going to win the election? Saxo has a prediction ready. Robert F.
Kennedy Jr. Okay, so what do you guys think? Think that’s a legit prediction? Japan is going to have gross domestic product of over 7%. It’s going to be just staggering. And the bank of Japan is going to get rid of the yield curve and abandon certain financing. Okay. The economic union is going to go completely upside down and they’re going to go after billionaires and have a billionaire tax of 2%.
Again, guys, lunacy. Crazy predictions. I love these stuff. Let me know what you guys think about this stuff. I love Laguna beach after it rains. Isn’t that just stunning? Man, that is just so. Even you couldn’t paint that. It’s so beautiful. But share your thoughts on this stuff. What are the other economic predictions that you think are going to happen? Send them to me. Hello@iallegedly. com. I love this stuff, guys, because it’s Looneyville and they’re never right.
Okay? Never right. So who do you think is going to be president? Let’s get into that, okay? Share your thoughts on all this stuff. Let me know what you think about all this stuff so far. But, man, oh, man. Did you guys hear about first american titles? Okay, they got hit with a cyber attack, guys. And that’s the second largest insurance company in the United States. Think of all the houses that could be affected by this, the closing of escrow.
Think about this time of the year also. There is such a problem right now when it comes to the issues with cybersecurity and with the issues of things that are not protected, your data, everything like that. It’s awful. But this is just going to be worse and worse and worse. But imagine you have to close escrow on this house before the end of the year and the title companies shut down.
Ooh, what happens next, baby? Let me know. Let me know all your real estate agents. You guys are having so many problems. There’s another article about all the lawsuits that are starting to happen where people go, you know what? I think we paid that guy way too much for what he did. And they’re starting to go back and sue these people. Now you can sit there and say they don’t have a like to stand on.
People are furious with this. You’re going to see a renegotiation of real estate commissions and you’re going to see a lot of companies settle this immediately. They’re not going to wait for the losses. Also, I wonder what the insurance would be like if the insurance is going to cover certain litigation for your eno, your errors and emissions insurance and things like that. So again, I’m no lawyer, so let me know, guys, share your thoughts on this stuff, but it’s going to be a different industry.
And a year from now, make these predictions. We got the election is eleven months away. The world’s a different place. So share your thoughts on all this stuff. But man, oh, man, is this just stunning out here. Isn’t this nice? You get a lot of the seaweed that gets washed up with the high tide. It’s beautiful. It really is. But I love coming down here to work. I love filming down here.
I love parking up on this park. You’ve got Las briefs restaurant on one side of it. You’ve got Heisler park here. You’ve got where that flag is at right there. You’ve got the veterans memorial that’s up there, just a cool, cool spot. They’ve got restrooms and parks and barbecues and all that stuff up here. So share your thoughts on this stuff. Let me know what you think about this.
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Do something about it. Look@trimwithdan. com. Once again, Biotrust is a great company. They’ve shipped over 15 million products, and their customer service is fantastic. Check it out today. Go to trimwithdan. com and get some belly Trim XP. So the scams are running wild right now. And one thing that you have to do is let everyone know in your life not to respond to a text from someone they don’t know.
There’s two stories below from two different people, Eric Jung and his parents. This was the big one. Gets a text from somebody and says, oh, I’m sorry, it’s a wrong number. And the guy communicates back, oh, no problem. And then they start a dialogue over the course of a month. And Eric’s parents ended up sending this guy a million dollars for a crypto investment. Invest here, you’ll make a million dollars.
Hello. Okay. Absolute scam. Absolutely devastating. And then there’s another one called pig butchering where a guy, they go out and they send you random emails. Now, I get these guys all the time. I get them all the time. And I just, delete report. Delete report. Today’s text message to me was, hey, it’s Lisa. Are you free to play golf, Paul? Well, okay, no, okay, I’m not Paul. And in hell will I play golf with you, Lisa.
So needless to say, the idea with this is, oh, I’m sorry, you’ve got the wrong person. And then you start a dialogue with Lisa and, oh, yeah, I’m just so know, I’ve just got nothing to do, and I’m really attractive, and let me send you a picture of me, and we should go play golf sometime. You know what I mean? Get your balls in the rough. You know what I mean? Anyways, so with that happening, people respond to this and they communicate.
And when they communicate, they have nothing but problems. And then back and forth, they get these text messages. And with the text messages, it always leads to a, boy, do I have a great way for you to make some money. So when they respond to this, it’s a crypto scam, and it’s happening over and over and over again. So don’t respond to text messages from people you don’t know, because inevitably it’s going to lead to them giving you a link that’s going to get you in trouble.
But these poor people, people are lonely in general, okay? And a lot of people don’t want to sit there and go out and meet people and do things, so they’ll do it via texting. Okay. You’re the most handsome person in the world. Thank you. Oh, my gosh. Really? That’s amazing. Oh, my gosh. Yeah, let’s meet. Oh, you need money to meet me? Okay. How much money do you need? Oh, that’s not that bad.
Do you know what I mean? It gets ridiculous. I just had a real estate agent text me while I’m filming this video to say, have you heard about first american? I have deals that are not going to close between now and the end of the year. I’m really concerned. So what’s going to happen, guys, with this? Now, Melissa’s a great agent. Melissa’s not in California. And what’s going to happen with this? Seriously, this is going to be catastrophic.
Now, first fidelity, okay? People are like, hey, did you hear? Fidelity got hacked. No, not fidelity. The investment company, Fidelity financial, okay? They’re the lender, okay? They’re with loan care. Anyways, they got a hack, and they finally admitted the hack three weeks after it happened. The one good thing with what we talked about in yesterday’s video about how if your company gets hacked, you’re going to have to report it to the public within four days.
That’s going to be helpful for stuff like this, because people found out three weeks later. So it takes a customer to report this stuff. So share your thoughts on this stuff. I’m telling you, the scammers are out there. The robbers are out there. The bad people of the world are looking for us. They want to take whatever you have. Just do yourself a favor and don’t respond to this stuff.
Guys, you like the new haircut? I do okay. By the way, I have gray hair. Have you guys noticed that? Yeah, you guys drive me. All this negative news. Okay, anyways, share your thoughts. And all this stuff. Have you noticed how simple I just get sidetracked? Like on a whim? Look, squirrel. Oh, my gosh. A wave. Okay. Oh, she’s cute. You know what I mean? It happens. Okay? Share your thoughts on that stuff, guys.
Okay. There’s a lot more to cover. Ralph’s grocery company is getting sued by the state of California. And this leads to a second story, too. They’re getting sued because they’re rescinding offers from people after they fill out the applications. And. Hey, John, we’d like you to join our firm, but. Oh, wait a second. You have a felony arrest on your record, and you, in fact, went to jail.
So we’re going to rescind our offer. They’re getting sued for that right now. Read the story below. Have you ever filled out a job application? Have you ever gone to online? Hey, listen, before you can get this, answer these twelve questions. You know, we’ve all done it. The point is that don’t they have the right to turn down some criminal? Okay, the one thing that they want to pass here in California, which is insane.
Which, again, no one will be able to rent once they do this, and that is they don’t want you to ask if somebody’s been arrested before or convicted of a. Okay, you know, John’s kind of wacky next door, and he killed those three people. But it’s just a no no. Okay, live someplace else. I like this. Redfin did a study on affordability of houses, and they say that nearly all the houses that were listed in 2023 were considered unaffordable.
Well, what does that mean? Well, they were over $352,000 in price. Mike, again, where are these $352,000 houses? That’s what I want to know. Okay, show me. Okay, show me. The next thing is they talk about. Listen, people have trouble coming up with 5% down. 5% down? Who’s buying a house with 5% down? What is wrong with you people? You wonder if there’s an economic hiccup in your neighborhood.
If John moves in and you found out, oh, hey, John killed three people, the price of your neighborhood drops. Or what about a hangar in the city of Tustin? Burning down to the ground after 24 days. If the city just let it burn, burn, baby, burn. Okay, after that, then that affects the price of your house. But you only put 5% down. That’s don’t buy a house if you can only put 5% down.
I’m telling you this right now. And again, the Dave Ramsay thing of paying cash, there’s certain things you should pay cash for. Go buy a used car, guys. Don’t be in debt. Don’t have a car payment. My credit’s horrible. Dan, save some money. Don’t go out on the weekend. Don’t buy beer. Save money. Okay? Gosh, it’s that simple. But the scrutiny of some people and what they’re doing with this is just crazy.
You can’t ask for stuff like, you know, do you know the story about Ted? Ted seems kind of angry. I don’t. Just. We’re not allowed to ask anymore. Do you know what I mean? How insane that is right now? Gosh, she just doesn’t, just doesn’t work well with others. Still, one of the greatest lines I ever heard was an HR rep telling me about all her stories of interviews and how they needed this hard, grinding sales leader to run this company.
And the guy gets to the fourth interview, finally. I mean, they’re going to make the offer that day. She’s like, tell me your best trait. Tell me your weakest trait. He goes, I’m not aggressive. I don’t like going after people. I don’t like to be one of those people that’s forceful. I’m like, what? And again, you’re selling. Hi, how’s it going? You got to ask for the order.
No, I don’t feel comfortable with that. That’s not my style at all. So, anyways, I’m sorry that I got a kick out of that, but I just thought it was a complete waste of time. But imagine not being able to ask somebody if they have a criminal record to live in your building or be your neighbor. Okay, let me know, guys. Share your thoughts and all that stuff.
All it’s. The economists right now are still predicting that we’re not going to have a soft landing. I am telling you day to day today you get these stories that go back and forth. The economy is good, the economy is bad. Stock market’s good, it’s bad. Best investor time ever know it’s bad. Here’s the reality. When you see people that are sitting there talking about layoffs, when you see companies that are not making money, when you see restaurants closing, when you see, people that are getting their hours cut, friends that I know, their kids.
Hey, listen, they can’t get more than 15 hours a week right now. It’s the holidays, guys. What restaurant is not open? My son is in a college town, and he’s working. I’ll work 25 hours a day. I mean, let me work every chance I get. Okay? It’s not everywhere, but you’re seeing a lot of businesses take a hit. And the fact that these people think that there’s going to be a recession.
You bet there’s going to be a recession. So Naraj Shah is the CEO of Wayfair. Wayfair lost a bunch of money and is finally profitable again. Sorry for the helicopter. I told them not to fly over, but they wouldn’t listen. The CEO says, listen, we want you guys to understand this. He sent a company wide email to everybody that you need to get ready to merge your work and your life, your personal life.
And you need to have a work life balance. No, expect long hours. Expect to work extra right now. Expect to do everything you can right now to keep this company going and make us profitable. I’m like, okay, that sounds like a small company. It sounds like a family business right now, because that’s what you’re seeing. How many times you been to a restaurant? And usually it’s ethnic, and everybody’s working.
The niece, the cousins, the brother, everybody’s in there. I was just at a chinese restaurant, and the nephew came to town for the holidays. Guess what he’s doing? Bussing tables for the, you know. Also, I found a great story about how people make money. A great movie to see is called the Founder. It’s about Ray Crock and how he took over McDonald’s. But I want to say Patrick Monahan.
Monahan that originally started Domino’s pizza. Now it’s the world’s largest pizza chain. And they’ve got, what’s it, 20,000 locations. But do you know that only about 10% of their sales comes from pizza? They sell $400 million a year in pizza and do four and a half billion dollars in sales. Where’s the rest of the money? Come. They are landlords. They own the land that Domino’s franchisees buy from.
The other thing is that Domino’s owns the flour company. They own the sauce company, the cheese company, everything. The meat, the sausage, everything. They’ve made those businesses to where you can buy from them, and they make money on it. Now, think about this. Domino’s. In their franchisee agreement, you can source your products from whatever, wherever you’d like. But they have to meet these certain requirements to do that.
The fascinating thing about this, and it’s a great article below talking about this, about how we incentivize everybody to get this. We give free shipping. We have our own Domino’s trucks. They own every aspect of the business. To get the cheese to you, to get the crust to you, to get everything to you. It’s absolutely fascinating. But that’s where they make all their money. And again, what I tell people is when a company is in trouble that’s been around, and it does, from a few hundred thousand dollars in business to millions of dollars, what can you do to squeeze out more money? What can you do to have people spend more money? What can you do to get more out of the customers that you’re already working for? Think about this.
You’re not buying more pizza. They’re just getting more from their franchisees, okay? And everybody loves it. And they survey all these franchisees. Who do you like better? Buying, buying our sauce or the sauce from the guy, you know, oh, you guys get it to us faster. It’s better. The people like it, all that stuff. But it’s absolutely a fascinating aspect of this whole thing. So let me know about that.
Again, not that you eat Domino’s pizza. And yeah, it sucks and it’s not good. And Tony down the block is so much better. I understand all that, but it’s fascinating how they make money. And again, your own household, how can you squeeze money out of everything you’ve got right now? That’s what you should be doing. That’s what you should be doing. Let me know what you think about all this.
I’m going to finish this video with these last couple stories and it’s really nice to come out here. Calm before the storm. It’s beautiful. But first things first, guys, is New York state. The hotels in New York, the prices have gone up 20% for two reasons. Number one, the Airbnb ban that they’ve implemented in New York state has made hotel prices go through the roof. And also all the migrants that are taking your hotels rooms, so they’re getting paid for by the federal government and you get to pay 20% more to stay in beautiful New York state.
So is it fair? No, it’s not. But you’re going to see a rash of houses. What’s going to happen in New York when all this real estate becomes available for sale, when people can’t rent it out on a daily rate? And eventually they will find people. Eventually they will come after these people and make them pay up for this. They’re just not going to be able to get away with this forever.
So share your thoughts on that. Plus, this is funny. The state of Illinois has a DMV department that went on the news and know we’re getting a lot of people that want to have personalized license plates that are just unacceptable. And they had a newscast about this and it’s amazing because I can’t even read the stuff that people wanted on their license plates that they turned out. So watch the story below.
It’s funny. It’s really funny. But the two that I can say is, I can say one person wanted Dee’s nuts. I want D’s nuts on my license plate, okay? And then the other one was Iowa sucks, which we just can’t have state bashing. Okay. But the rest of them are stuff that were like profanity and things you couldn’t even say. But they did the newscast for it, so it’s kind of funny.
Okay. Don’t forget to hit the like button. Don’t forget to subscribe to the channel. And if you want to email me anything, it’s hello@iallegedly. com. Onward and upward. It’s going to rain again soon, guys. I’ll see you very soon. .
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