THE PEOPLE AROUND YOU – Market Mondays w/ Ian Dunlap

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[Music] We have resources that yo if we put you In contact with this person that can Help you so it's like it's the mindset Piece too but it's preparing yourself For where you actually can go not where You are right now yeah and the five People you hang around with I've said it Before matters a lot Um you know even talking to Peter Talking to trap Talking to you guys like it's never been A day when I hit you all up like what You doing like nothing we had a Conference in shoddy on the day of bike I'm like training for a fight what you Doing Troy told a story about how much Weight he lost and I was like [ __ ] That's some spot been in the gym every Day since Every day like be around people that are Going to push you to be your best and Not accept any excuses Um if you want to get to your goal put What is your real income goal for 2023 Please put that in chat yeah yeah be Super intentional too right if you have People around you who have resources be Super intentional right like don't waste Time he like I said like I value our Conversations because it's never about Money it's always about life But life revolves around business like We have a business that we run he has a

Business that he runs he takes things From the conversation we take things From the conversation all right we need To implement that oh that's I didn't Even think of that you know what I mean Just going back and forth not wasting Out each other's times with with casual Talk all the time like yeah it's cool to Have casual talk But that's not going to get us where we Want to go Life's Too Short yeah well that was the Halftime break Back to our regularly scheduled Programming you guys are elitists new Segment you always say because you have It halftime Break Um so let's talk about Disney one thing I will say before talking about the Digit is the last thing I'm going to add To this is you report you said something You say there's never a time when we Call you and we don't know what to do I Learned that early on too you should Never you know as people wake up and Like what you're doing like I don't know Figuring it out I don't know chilling Like You should have knew what you're doing Today Yesterday last week So it's like this that would be a time When you when you're figuring out your Day when you wake up that day your day

Should already been figured out prior To the day Months ago If you're not two years ahead of time You're way behind You're way behind like I'm just being Honest in the conversation that I'm Having like when I'm preparing to do my Next method like they're already Planning for when Mm-hmm I don't know if I can say this I I can't say that but if there's a Shift In management Don't be surprised don't be surprised You have to be prepared two years in Advance at least minimum at least 24 at Least 24 hours in advance 24. that's That's Bob Iger Disney tells employees That they must work in the office four Days a week beginning in March what do You think of it and do we think the rest Of America will follow suit four days a Week in the offices and Bob Iger put it For context Bob Iger one of the greatest He's known as one of the greatest CEOs Of all time he led Disney during his Glory days and then he retired and then Another Bob took his spot and Short-lived and it was uh hard times for Disney to stock um spiral down and they Had a lot of bad things that happened in That situation so then Bob Iger Came back out of retirement similar to

Michael Jordan came back out of Retirement and now he's trying to change The work culture so he's implementing The four-day mandatory in office Work schedule and the reason why that's Important is because obviously during Covet a lot of people were working Remote and a lot of people said that you Know the days of office is over he's old School he believes in you know being in A physical location so how do we feel About this I think you just now like What you just said he's older is the key To this I think it's a generational Thing and so the people who make those Decisions are not of a certain age group And so they're used to coming in five Days a week if you look at most of the People who are looking for jobs 95 this Is like I'm not making this up like Career comment all these you can look at The statistics 95 are people who are Looking for jobs want to have a modified Schedule where they don't have to go Into work five days a week Another statistic is that people are 95 Percent more productive when they do Remote work absolutely right so is it a Work issue or is it a a company issue Right because if they're being Productive at home why wouldn't you have People being removed right you would Have more productivity for your company I think the generational piece is what

Plays into it right we come from a space Where we're familiar with technology It's nothing for us to get on a zoom Call or some of these other companies We're pretty familiar with that you put That into somebody who's been a space For 25 to 30 years it might not be as Commonplace it might be a little bit More difficult it might be more more Stringent on them right it's it's a Tougher cell right so you have older People in these spaces making the Decisions and they're saying all right Well let's go back to the things the way Things are right now I think they said it's 90 of companies On hybrid schedules where they do maybe Three to four days a week they said Troy Make a stat up all right awesome I'll Put it I'll put it up I can put Google You know you know what I you know what I Do with the research so right so you you Figure If seventy percent of the people 90 of The companies right now are doing hybrid Why change that there's like I know like There's one Netflix for sure was like Everybody has to come back to work but If you look at the majority of companies Up until 2023 which we just started most Of them have done hybrid a lot are Saying that we're going to go back to at Least four or five but we'll see I I Think it really has it's what you said

The older and older population is making Decisions on what the workspace looks Like So do you agree with it or they don't Agree with it I agree in the sense well The first part was what do I think of it And then what do we think what what is It going to be America going to follow Suit I think they'll follow suit in a Sense of hybrid with three to four days Because he didn't say every day right It's still he's still saying four days a Week four days you damn near four days Friday Casual Friday but people well Friday you don't have to come in but if You're gonna make somebody go to work Four days a week in a physical office They'll take it people will take that I Know for sure people like yo if I don't Have to go on Fridays I'm taking that But what about people that move to a Whole different state There's a lot of people that did that Yeah what was that you got to move back Now Oh you're saying they moved and they Stay with the company like if you're Working remote you might want to live in Miami and your job is in Connecticut but You're working remotely you have to find A job Oh yeah that's what I'm saying if you're Working remote most times there's a Separate location right there's a

Location of that business where you move A lot of the times right you're not just Moving to Wyoming and there's no Business there that is associated with Your company right so you might move to A state where there's a branch there and You're just working remote And what's your thoughts on this I think Everyone can write this down this is Going to be an important so remember an Important uh economic indicator on the Fundamental side so remember when I used To tell everyone like hey once we get Past a certain number of CEOs to step Down It is a sign of a recession Um companies that Force Three to four day Mandates amongst their employee base is Usually a sign of a non-exceptional Company So if we look at their employee base of Disney they have 220 000 employees 793 000 uh shareholders Price of Revenue ratio is 2.07 Price to Book is 1.8 net margin is 0.03 percent Gross margin is 0.28 Not amazing uh pre-tax margin is six Percent I want to do an exercise that if Disney Offloaded all of their physical Locations and slowly went to the tech Side How much better and how much more

Efficient that company would be and I Know the probability of doing that is Damn near zero Um but we are at a Crossroads so the Thing that I love to do is study Economic periods over 100 year period we And I was telling chapters the other day We have to treat this period of 2023 2023 2023 like it's 1920 and 1923. The big debt model that we've had and he Won't be the only CEO that comes back Um I'm hitting some rebellions that Basil Smith to come back to Amazon and Write that ship for a little bit But what is the Innovative model that They have that will sustain them for the Next 10 or 15 years because the amazing Assets that they have are being drugged Down by the commercial properties and Slower sales cycle there and when the World shifts like how we did during Covet and if you look at it technically If we don't recover to next year we've Really been in the economic decline Since 2019 through 2024. Half a decade Can Disney continue to have all these Locations globally and be a preeminent Leader in this space I would argue that Not now Um Right CEO and I think it's the right Move to make if You have older leadership in this

Company with no true Advantage I would Argue right now Disney has no advantage Over more space And what's whatever space you want Whether it's Tech Apple's better or if You want to say real estate McDonald's Will [ __ ] watch them any day of the Week yes Streaming Are they the number one stream and They're the biggest streaming well they Have the most subscribers and if you Look at the new commercial which is Interesting I don't know if people even Watch it they don't they're trying to Figure out how to get rid of ESPN Because it has been a debt hole for them It's a yeah that's a dumpster fire it But the new yeah the new ads and you Would think like they have a lot of Sports the new one maybe good one skip Go back over there with Stephen A no no Just shut it off one more time we're Going to deal with skip on another time If you look at the new ads the bundle is Now uh Disney plus and Hulu they took The ESPN part out of it for like 9.99 [Music] I know they can't stand it

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