HOW TO AVOID BEING SCAMMED IN A RECESSION – Market Mondays w/ Ian Dunlap

[Music] What about you guys what do you think Um three things people can do to prevent From getting taken advantage of in this Recession Everything just in life uh you know in Any in any economic environment uh avoid Investing in things that you don't Understand that's extremely important Um if something is to sounds like it's Too good to be true it usually is And uh Have firm Realistic expectations You win advisor right Yeah you guys have met a few Billionaires I don't know how many Millionaires has any of them Behind the scenes told you like hey I Put all my money into this one project Or coin or did they all have Diversified Business models Diversify you gotta diversify it's Important Um so I feel like People Like I said they just don't have a Realistic expectation based off of a Variety of different things lack of Information lack of Education social Media everything so that that human History that that allows you to get Scammed so Put your thinking caps on

Um use your intelligence Not your emotions And that's like golden rules for life Really What you said is that that specular like Trying to find the next thing like this Every year for the past two and a half To three years is like look we don't Have to look for the next thing from the Thing that's here is working And so a lot of times when we try to Look for the next thing we start Speculating and we try to take gambles Um and it's like for what right like we Want that quick food I remember like and Even when we were in Vegas I was there For that round because you I was like he Was going crazy but it was like did the Young lady ask me yo how do we make a Quick flip and I'm like we got to change The mindset on that like it's just not We're not here to quit stuff we're Actually here And I know that's not sexy I know it Doesn't feel right it's like yo but I Need money now but I'm like yeah like we Got to get out of that mindset of Instant gratification and we need Everything right now And if you need money now because the Thing it was talking before we cut Recording I got to get a place out there In New York when I get get the bill for What it would be I'd be like the thing I

Do love about New York though the energy Of it and everyone's on the move if you Need money today Then you have to get up and work like if The average person that is not Financially free is working eight to ten Hours a day and they ain't getting on The subway and traversing everything That goes on to New York and you know Stepping over the rats and all that Right why do you think you can work two Hours a day in the middle of your house And like I asked him all the time for Reference how many hours a day do you Guys work There hasn't been a time that I've Messaged them in the last year And trolls like man I'm just the career Playing got to I have a shot what you doing like and Rashad is working on stuff too you can See when this brain turned and he did This he figured out another idea He figured out another idea like you Have to put the time and it's not the Sexy answer but it is the answer that is Going and let's take Floyd Joe familiar With his work schedule uh Steve Harvey Beady loan Charlemagne the tavio how Many hours on average does when you guys Talk to them how many hours are they Working and they have staff and support They're always working Always that's why and that's those

Things that you so you don't see Everything that goes into it right like You see improved of it but this work Every day almost all day like and even With Joe we were talking and it was like Days off like well we do you realize how Fortunate we are to be in a position We're in to actually do what we want to Do to talk about topics with the people That we actually like in this world and Have people we have to be black doing it And yeah and be back to it it's like no We're very fortunate so why would we Stop Nobody's going to outwork it that's just Always been a mile nobody's not working So things that that we're willing to do In the spaces we're willing to travel Like even last week we were just looking At the schedule was like Four days in a row we were in a Different city And episodes are still coming out and You know I mean there's a lot of other Things I am planning for 2023 another Bit and I'll say this too for everyone And I'm not just caping because I do the Show within that relationship with them But when some of you are getting upset At trimmer shot You cannot be jealous of their success For the work that you didn't put in Trust me I would rather be playing with Xander right now Rashad I'll see him go

To a basketball game get on the plane Come down touchdown and leave no shower Hey let's go ahead record 2023 can be your best year ever if you Build the right team number one number Two you don't need an accountability Partner you need accountability to Yourself and if you work on your craft Every day seven days a week for three Years you will have the greatest Explosion Um in your career So before we bring our guest on we got One more topic to talk about and let's Get into this um what do we think of Kevin O'Leary's statement in regards to FTX and how Do we know who we trust as endorsers so Anybody want to explain that Kevin O'Leary's situation first and then we've Got to go into this Or you want to explain it yeah so I mean Kevin O'Leary obviously uh we spoke About it a little bit last week when we Were talking about Mr Wonderful Mr Wonderful from Shark Tank South America billionaire Uh he was paid 15 I wasn't 15 million Dollars again 15 million dollars to Endorse FTX That's a lot of coin that's that's a lot Um and so there's a certain level of Accountability and responsibility or Should there be is really the real

Question that these influencers or Investors should have when endorsing Something and not knowing all the Intricacies of the actual business and So when the money goes and obviously we Still have Point FTX If I was investing in that based on his Recommendation what is his Accountability the other part of it is When they went back to me he was on CNBC Uh and they were asking him about the Crypto space and he says you know it was Something that I believed in I believed In and then they pulled up the records And he's saying in the same year that It's a garbage space and nobody should Be involved in it Right you can see it as a contribution I Mean 15 million a change of tune though So then is there a price point that can Change your tune and at what cost do you Owe the general public so Have that disclaimer to say like hey I'm Being paid to do this and we've seen That with other influencers and Khalid And we saw what Ken and we saw with Floyd and I think their case has Actually got thrown out but at some Point What I mean what's the account what is The the penalty for being paid to Endorse something that we know or not Willing well maybe willingly know that Yeah not a legit space

Um number one everyone write this down If You have to realize That no one cares about your financial Success more than you Celebrity that does not know you Um is not entitled to protect you Financially I think we may be one of the few Entities ever created in the history of Mankind that actually acts as a Fiduciary in everything that we say Um number two What kind of accountability I don't know I know he's frustrated in everything That he said when he was speaking to Them sounded like everything that we Said on the show about what happened When I came and sat down with you guys In New York which I missed doing and I Cannot wait to be back Um and record again But When something is okay hypothetically if A company is making let's say take FTX If they're making let's say 30 a quarter Rashad you can attest to this as an Advisor you're like number one one top One percent in the world if that's the Case why the hell you got a pen and Ambassador 15 million dollars a year to Promote if you're actually getting 30 a Quarter returns Makes no sense

Um I think this is a prime case of Everyone has a price I like O'Leary I Like his investment philosophy and Strategy been a fan of him on Shark Tank Forever Um Even in some of my grumpiness that you See in me I relate to it in him because Of how he's been screwed over in deals But when you are supposed to take care Of the public And you don't do so for a badge Is it really worth it Um I even Shaq said hey I'm not a fan of Crypto I was just a paid Spokesperson and this is the number one Going back to ads I only want to have Ads on a platform from a company or a Product that I actually use and or like You know shopping I had a very spirited Conversation about this like a year ago I think the number one mistake that Podcasts are making in number one they Got you to say Podcast instead of film but number two They you are allowing your life's work To be sold away for pennies on a dollar When you got a product be advertised on Your platform that you do not own Um this is going to have a severe hit on O'Leary's reputation and ultimately Probably Shark Tank I would not be Surprised if this is gonna does not get Fixed in the next three months

That they don't find someone to replace Them and everyone said it's not possible But they've had Kevin Hart and some Other people if they put Kevin in that Seat over O'Leary I love you Mr Wonderful But it's gone and even to the our Audience And you're like hey why are you Interviewing rappers Clearly we have to get bigger because of The people that you're idolizing and Looking up to Have more a higher Q score than us then You're telling us to get a higher Q Score to that step I won't talk about Kevin Hart's deal With Chase but that that's a nice bag He's getting to promote Chase Um So there's a method to the madness while We'll interview a Floyd and because That's what the audience ultimately Wants but be careful no one cares about Your money more than you do Except me And US initial and if I've made you Money please put yourself in chat And got mad when he got swindled huh That's what I'm saying and it's Different when it comes from him so yeah Like Tom Brady's endorsing it as well people Are gonna uh Tom Brady's an athlete

Steph Curry was in the commercials we Had he's an athlete like when it comes To somebody who's looked at as you know A leader investor that's a financial Space and how's it show that is based on Investing it's going to hit a little Different Right just because you know about one Space doesn't mean you know about Another [Music] I know they can't stand it