Look! Its Much Worse
Summary
➡ The Securities and Exchange Commission approved bitcoin exchange-traded funds (ETFs). This move allows more people to easily invest in bitcoin and can affect the price. Gary Genwood, the head of the SEC, initially disliked cryptocurrencies but now recognizes them as a valuable asset class.
➡ There’s been an increase in credit card debt delinquency, with people lagging behind their payments for 30, 60, and 90 days. The speaker considers this a serious problem, particularly companies lowering their financial projections drastically and foreseeing the opportunity of laying off workers.
➡ An online blog criticizing eBay resulted in a surprising backlash, with eBay retaliating by harassing the blog’s owners through disturbing mail and meddling with their online store. This led to a hefty fine for eBay and jail time for its director of safety, alluding to the importance of online business responsibility and ethical behavior.
➡ It’s wrong to write mean things about people online or cause fear because you feel safe behind a fake name. There’s a punishment for such acts, and people often go to jail for this. If you write harmful things about others, the law will catch up.
➡ You have the freedom to criticize but not ruin someone’s life or business. Remember to show kindness online. Also, I remind you to like posts, subscribe to the channel, and join our email list for updates and quality content by me. Enjoy your day, and see you soon.
Transcript
If you’re in the med tech biotech space, this is how you kick your year off. Now this event, the JPMorgan healthcare event, is held this year. It was held the 9th through the 11th. Okay? And in San Francisco, it is becoming worse and worse and worse. Now Jamie Dimon steps forward. And this is an invite only thing. This is not something that, hey, I’m just going to go buy a ticket to JPMorgan.
But what other people do to capitalize on this, which is a great marketing thing, is they go out and they have conferences around the JPMorgan event. So I think last time I was there, there were 18 other conferences around the event, but there are probably 80, 90 mixers and things like that. I had one night that a buddy of mine did over a dozen events in one night that we were signed up for.
Cocktail party after cocktail party after cocktail party. It’s just so much going on in the city that has completely changed. Jamie Dimon steps forward and said that the city of San Francisco is far worse than he thought it would be. It’s much worse than New York City. This place is a disaster. Well, I am telling you this right now, I think this could be the last year that Morgan has that conference in San Francisco because it’s such a dump, it’s such a crime ridden, homeless know, business, closed mess.
Now think about this. You rely on the infrastructure of a city when you bring people to it, the hotels, the restaurant, and you want people to be able to walk from one place to another and feel safe. Not anymore. Guys, the last year I was there. Now I have not been to San Francisco since 2020, prior to starting this channel. And it was a disaster. And I’ve told this story before about how homeless people fighting, having an mat across the street from each other, throwing m each other.
And when we got the police over, they told us to get out of there because we could get hurt. You’re not going to arrest these guys. Get out of here. Dudes in our suits. Okay. Plus, that same morning, I walked into a liquor store and a guy says hi to me, fills his pockets with stuff and jumps over the barrier and takes off. As I walked up and paid for my soda and chips.
Going to my next event. There’s nothing we can do about it. Okay. Lawlessness has ruined San Francisco. Lawlessness has ruined New York City. But Jamie Dimon said, this is just a disaster. You have over 150 companies that have left San Francisco. Think about that. Think of the tax base for the state of California for all these tech companies that are leaving them. Think about this one. Google is building a 26 acre campus.
Not anymore. Now you can sit there and say, wow, they’re not going to have the construction of this. No, they canceled it. Here’s the best part. This was not scheduled to begin construction until 2026. We’re done. We’re moving. We’re not going to have anything to do with shitty San Francisco. So they’re moving and that’s the end of know. This is a disaster. And this is what happens when you have lawlessness.
This is why the Oakland A’s are leaving Oakland, because it is a dump. And my know from college says, hey, you know what would be cool this year? You and I take know father son trip. When we go to Oakland. My buddy Pete, who loves town, he’s the guy that goes to all the games with me at the angles. Whenever Oakland comes to town, he always goes with me at least once to see his team.
He says, dan, please, under no circumstances do you want to take your son to Oakland for any reason. It’s the most dangerous city I know of. So this whole area, Oakland, San Francisco, is an absolute dump. But now you’ve got Jamie Dimon, the CEO of the world’s largest bank, stepping forward and saying, no, stay away from this place. It’s an absolute disaster. Now think about that. Think about how bad that is.
And it’s always somebody else’s fault. When cities go south, it is everything wrong. It’s not the people that they voted ever. But I am telling you, when you see people leave, when you see store chains leave, target and Bristol Farms and whole Foods and tech companies, when you have tech companies that pay huge salaries and pay a ton in taxes, leave. That’s the kiss of death. So let me know what you think about this, but read the story below because he was brutally honest.
And I’m like, gosh, he’s not really like this guy at all. So he told the truth. This thing’s a mess. Let me know what you think about that. Now the next thing is the securities and Exchange Commission just stepped forward and they approved bitcoin etFs. Exchange traded funds are basically a stock fund. Let me just simplify this as simple as possible, that you trade on an underlying asset, so instead of buying bitcoin for 40 grand, you can go out and buy an exchange traded fund easier, and it fluctuates on the asset that you have.
Now, there’s other exchange traded funds that are out there. Some are based on sectors, some are based on the S and P 500, for example. But it finally got approved, and people think that this is going to make bitcoin shoot up. Now, bitcoin hit its high of over 60,000. I think it was 67,000 was a tie, and then dropped down to 17,000. So it’s going to continue to fluctuate.
It’s going to continue to completely move up and down and all around. But the thing that you have right now is that with these exchange traded funds, it’s going to make it so that you’re going to have people be able to invest it left and right. Now, what’s funny about this is that Gary Genwood, the head of the SEC, hated cryptos. I hate coins. I hate all this stuff.
But now it’s basically been determined that it’s an asset class, that it has some value to it. Now, do you own bitcoin? Do you own cryptos? Tell me. Okay, let me know. Let us all know if you’re going to buy this. If you think that this is the future bitcoin to a million, don’t do that. Don’t write the comment. I could care less about that. I want some knowledge.
And why you think that this is going to go forward. And plus, man, oh, man, is it beautiful out here. Look at you come out when the sun comes out. Look at this place. Newport beach. I’m right in front of the Newport beach pier. There’s basically no waves out here. The surfers on the alongboards are just sitting there. But this is just beautiful. What a great place to start your morning.
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Take a look at this. If you go to forward slash Dan, you can watch a video by Dr. Marty and see what’s in this compound and take a look at it. But again, our pets are part of the family and there are millions of dog owners out there. You’ve got to do something to prolong the life of your dog, prolong your dog’s health. And the best thing that you can do is watch this video today and see what Dr.
Marty’s come up with. So many of you have already done it, but take a look at it today. Go to forward slash Dan and check it out today. If you want to reinvigorate your life and make changes, change up what you do. Start your day early. Come up at sun up and go take a walk. Go get some exercise. Get your face in front of the sun. Now, I know it’s freezing around the country and it’s what we consider cold here today, but get out and do something.
Change your routine. Change your routine. Now, one thing that’s happening with our lives economically is that there’s news that you cannot ignore right now. Remember, everything’s going to be fine. Nothing to worry about. But think about this. Credit card delinquencies, we’ve heard about this a lot, and we owe over a trillion dollars personally. No, the number for credit card debt that’s actively going off at any time is $5 trillion.
Read the New York Post article below because it’s fascinating. Now, here’s the thing that’s really bad that people need to look at is what you look at generally with credit card debt is you sit there and you say, hey, people are 90 days behind. This is really bad. No. For the first time since 2019, pre pandemic and worse, in the last ten years, every single cycle, 30, 60 and 90 days for credit cards are delinquent.
Wow. Okay. And you can sit there and say, oh, it’s just a sign of the timestamp. And then people are going to write me and say, oh, it’s all Covid, guys. It’s not Covid. Covid’s done. Okay? Go about and run your business and work with what you’ve got to work with. But think about this. 30 days late was at 3. 19%, up from 2. 7%. Those that were 60 days are at 2.
21, up from 1. 9. And then the people that are three months late are up to 1. 52% over 1. 32. Now, you can sit there and say, did you just say 1%? 1. 5%. Who cares? Because you got $5 trillion of this debt. You have neighbors, you have friends, you have family members, maybe a spouse that’s not paying their credit card debt right now. This is absolutely the beginning of the end for this thing, guys.
It is absolutely disastrous and it’s going to be catastrophic. Now, don’t worry. They’re going to lower interest rates. Not so fast. Loretta Messer, who runs one of the Fed president and I didn’t feel like looking up which one she was, but the story’s below. She’s talking right now that at the march meeting, which is the next meeting, to potentially lower interest rates. That may be too soon. It may be too soon to lower interest rates right now.
Well, guess what, guys? They’re not going to lower interest rates because of the bad inflation number, the real inflation. Come on, guys, think about this. The worst inflation, a couple days ago, they talked about this was in Texas. Who believes that? Who sits there and says, yeah, Texas has got the worst, Dallas Fort Worth has got the worst inflation in the nation. None of us believe that. Every single one of us buys things that we buy on a regular basis.
Tell me that this hasn’t doubled in your life. Everything I buy like that has doubled. Certain meals. Hey, like my daughter calls it, the good pasta. Go make the good pasta, dad. The good pasta doubled in price, guys. And it’s the pasta, it’s the vegetables, it’s the meat and the sausage. And everything that goes along with that has all completely doubled in price. But the Fed is now telling us that we may not raise interest rates because of inflation.
What we’re living through is something that if you don’t see that they’re not telling us the truth about our economy, the economics of everything, you have to protect yourself. You’ve got to understand that if you accept where things are at today right now, that’s, that now covered that Mike Lindell guy from my pillow who got kicked off of Fox. Think about this. It’s election season right now. This is the highlight of when you’d want to be advertising on either main site, main channel, CNN, Fox, whatever.
Okay? And all the other ones, too. Don’t get me. You didn’t mention MSNBC. It’s not the point. The point is that there’s going to be more eyes watching tv right now and that this guy getting kicked off is not a political thing, it’s a money thing. The guy didn’t pay his bills. You could realistically see a company like this go out of business right now. And that’s what’s happening right now.
So if you are in a company, my friend sat me down and said, you made a really good point. I want to talk to you about this. And what do you think about this? My company right now, they’re projecting that we do x and we’re only going to do 20% realistically of what they’re projecting. Can you guys make money on this? Yeah, we’re going to have to let more people go, but we could stay open during that time.
We got to work on that. That’s how bad things are right now, is that people are doing 20% of the business, 80% less than they did before. I also have a new sponsor, Nike. I’m going to take over for Tiger woods. So I want to tell you guys that instead of just do it, it’s going to be just eat it. We’re going to have an eat it campaign where I’m going to go around the country just eating food and see how much weight I can gain in a year.
So follow along, guys. Follow along. One thing that’s real in this world is I don’t care what you sell, you want it to be successful and you don’t want it messed with. And when it goes bad, to get improved as quick as possible, here’s a couple of stories for you. There is a real estate blogger who says, we’ve already hit the bottom. It was October of 2023 was the bottom for real estate.
You have to get in now. Read this story, guys. Read this story because it’s absolutely crazy and none of us believe that. And I’m going to get my buddy Doug on the air. He said, oh, dan, I’d love to sit down with you and tell everybody how crazy it is because he’s hiring more staff, bringing more people in, going to foreclose on more commercial office buildings, more commercial strip centers and houses than ever before.
And this is the beginning of the season for this guy. So there’s that. The next thing is the Formula One race. That was in November in Las Vegas. I loved it, guys. I really had a good time at this experience. I thought the event was really well run for my experience. But there are so many businesses suing the city of Las Vegas and the organizer saying, hey, we lost all this money and it was horrible, and you guys damaged our businesses.
And next time I’m in Vegas, I’m going to talk to some of these businesses about that. But that’s what you’re seeing. You’re seeing craziness. Where this boom was not a boom, it was terrible. Employees hated it. That worked for the casinos because they would show up late for work. TraffIc closures. There is a street called Coval, which turned out to be part of the main drag of the racetrack.
That was not near the starting line. Anyways, this street crosses over with Flamingo. Okay, and get to the main drag. Get to Las Vegas Boulevard. Anyways, they built a temporary bridge that cars can drive over. And it’s wild. It’s like an erector set that they built for a temporary bridge. And the local businesses are like, rip that thing down. You’ve ripped everything else down. It’s time to rip this down.
And they’re saying, no, we’re going to keep it until after Super bowl because where is Super bowl this year? Las Vegas, Nevada, in the allegiant stadium. Okay, so share your thoughts on all this stuff, guys, because I just think that we haven’t hit the bottom yet on this. And if your business has been affected by something, if it’s been affected by homelessness or crime like San Francisco, you want retribution, you want to get paid for that, you want to be reimbursed for that.
And that’s what these restaurants and these businesses are asking for, because you’re going to see people that will never recover from having the Formula one race, should that be okay. They’ve got a ten year contract with a three year minimum that this is going to happen. Plus, they just ripped down everything. Now they’ve got to start rebuilding it again in Las Vegas. So let me know what you think about this.
People out playing with their dog on the beach, going to finish this video with these last couple stories. And the first one is Ross gallops. Ross Gallops had a recall this week. And I don’t, you know, sit there and go buy seafood. There’s the fish market where the guys come out and they bring the boat out and they do that every day. That’s really cool. But it’s only open on Saturdays.
Know, they have very little left on weekdays and things like that. But I want to finish this last story, and this is wild, wild, wild. There is a couple that ran an online blog that would be a critique for different online companies. One of them was eBay. These guys were critical of eBay. But people read this husband and wife’s blog, and eBay took it upon themselves to a reign of terror.
And what they did was they were critical of these people. They messed with their store. They sent them things in the mail like spiders and cockroaches and things like that. And they even had a director of safety get arrested for doing this to these people. Is that crazy? These people? EBay got fined $3 million, the largest statutory fine that they could get. The director that worked at eBay got 57 months in jail for doing this.
So here’s the thing. Here’s the greatest part of this and why I’m telling you this story is that people go out and write things about people and do things online and go, ha, there’s nothing you can do about it. There is something you can do about it. And people end up in jail for doing bad things and writing horrific things about people and just wait and see. You’re going to see more of this because there’s going to be more criminal activity against people that write bad things about people.
So think twice before you guys sit there and do a reign of terror and think that you have some fake name and, oh, I’ve got this type of email that’s protected. Oh, yeah, good luck. Read the stories below. Because these poor people were terrorized by these people. And it started with negative comments and negative comments escalated because they were powerful and they were right. And again, you have the right to criticize somebody, but you don’t have the right to put somebody out of business.
You don’t have the right to say, hey, these people should be in jail for what they’ve done. You don’t have that right. Okay, don’t forget to hit the like button. Don’t forget to subscribe to the channel. Join our email list, guys. One went out last week. It was fantastic. It was brilliant and it was written by me. Okay, onward and upward, guys. Hope you enjoy the early morning stuff.
I will see you guys very soon. .
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