0:05 Welcome back to another episode of the Careful Boys. And what do you feel like is the most financially irresponsible thing you've ever done? Financially irresponsible. The thing that comes to mind is uh putting 100 Gs in OMG. Cuz you know how fast it went down? How fast? >> It was like Steve telling Joe and then Joe's like, "Oh, I'm in." And then I'm like Dude, I think I'm in, too. And then I think that day or like within a few days I was like, "How do you do all these ████ wallet transfers bullshit?" And then I put 100 Gs in and then I'm like I don't even know what I just did. >> [laughter] >> That's crazy. Now 100 Gs gone. Where did it go to? Uh so back then I think you had to get Bitcoin to Ethereum and then from Ethereum you got to switch to uh
0:57 some Yeah. You go to Coinbase first. >> Oh, not this nerd ████ I'm just asking the dollar amount. >> [laughter] >> What 100 K to what? What was the How Why was it irresponsible? Like what did it drop to? Like ████ 10 Gs or something. >> [laughter] >> But it went to 300. >> That's the meat and potatoes, baby. >> to 300 and then it went down to 10. >> hook, baby. [laughter] Yeah, it went to 300 Gs and then it went down to 10. That's the hard part though. It went to 300 Gs. And then every basic trader I've ever met was like, "Even at 200 you pull out the 100. So you at least you play with free money. Every basic like trader I've ever met." Damn, man. We did this twice. >> And I was like, "What's it supposed to go to a million?" >> But for But for scale >> [laughter] >> For scale for the audience how badly did that hurt you as a sum for
1:48 what you your like net worth personally? So at that time what was cool is it didn't really hurt like Damn. Tight. >> I was I had I had a good amount I had a good amount >> Good for you, sir. But it hurts [laughter] though. You know what I mean? Cuz like it hurt but it wasn't >> You would have hurt it harder. >> But it didn't like uh Luna was tough, bro. Like 100 Gs then Yeah, it's I mean it hurt for sure cuz you're like, "F███!" Um but it it it didn't like ruin me. But this was happy time. But I'm also like a very risk-averse person. So that was pretty crazy even for me. Analed basically. >> me how much I lost. Ask me how how much I lost. But was that your most irresponsible financial decision? [snorts] I've done worse. THAN LUNA? >> [laughter] >> THAN worse than Luna? Well, that No, no,
2:38 no. See, that's very hard though. Like to call it a financially irresponsible cuz the the the whole concept is that it was a financially responsible move if you would have sold. >> The irresponsible part is your actions have to back your knowledge. Yeah. And it's me going like, "Hey, you want to fight Mike Tyson for 50 bucks?" And you're like, "Hell yeah!" And then they're like, "Have you boxed before?" "Oh, no, no, no." >> [laughter] >> It's like, "What the f███?" Like that Hell yeah! Do you know who Mike Tyson is? Hell no! At least [laughter] Your knowledge got to be What's that So he was just putting his trust in the faith of >> Yeah, your knowledge got to other people. If your actions If your knowledge don't back your actions, you're irresponsible no matter what you do, right? That's like climbing climbing or skiing ████ double black diamond
3:28 you've literally never snowboarded. >> We also didn't follow like basic fundamentals of investment. Like if you you know like like pull out your principal at least, you know, or like just basic ████ >> But that's how that ████ looks like from the outside looking in. I'll be honest with you guys. When you talk about crypto, it sounds like you know everything. And then when a ████ drops, everybody goes, "Well, we knew that would happen, too." And I'm just like, "WHAT THE ████ DUDE?" Like it seems like it seems like everyone that I know in crypto knows all of it. I DON'T SAY THAT. >> [laughter] >> BECAUSE crypto is a religion, bro. Like a lot of people just don't want to be wrong. And Like I'm not nuts, right? You see that ████ too? I know you guys see that ████ That's why I started laughing because you explained You explained it perfectly. >> But crypto everyone >> saw it coming? Why didn't you pull out
4:18 then? >> Everyone ████ knows everything. And I'm like so impressed. I'm like, "Damn." Holy ████ dude. You guys ████ sick. And then that ████ boom. And then you guys are all, "Yeah, well, that's the ████ nature of the ups and downs and you know." And I'm like, "What the f███?" Yeah. That's That was the worst one ever, I think, for me. What about you guys? Damn, it's hard once you pull the numbers on crypto back in the game. Then you're just like, "I made a lot of financially irresponsible decisions." >> [laughter] >> I I would say Bart specifically in that moment That's why he didn't say Luna. I feel like he had zero crypto knowledge and he just said, "I'm down to ride. Here's 100 K." >> [laughter] >> My precursor to that uh that's equally dumb and hurt me way more was when we first graduated college and we first started doing like JK. I'm like, "Dude, like you know like funds
5:09 are ████ low. We're making a grand or two a month and you got to pay rent and do all that you're doing on your own." And I'm like, "Okay, like what what can I do on the side to start building some sort of financial like like uh emergency fund?" So I'm like, "Okay, I'll sell my car and it was I sold it for 20 Gs and then I uh uh bought a cheaper car. So that was 10 Gs. So now I have 10 Gs to invest. And I'm like, "Let me do this stocks thing." >> He started day trading? I was going to. I was like people like buy like ████ stocks and ████ and they they can make money from stocks. And then that's when the Facebook IPO came and I'm like, "Oh, cool. I'm going to buy that. This is like once-in-a-generation type s███." I buy it and me not knowing anything like all IPOs dump like the next week cuz there's hype around something and it and it corrects and then it'll go crazy. And then as soon as it dumps I got scared so
6:01 I sold everything. At a loss? At a loss. Like a ████ like a ████ idiot. And I And that those 10 Gs hurt me way more than the 100 cuz I think I probably had 12 Gs at the time when I put 10 Gs in. >> Yeah, proportionally that's more of a wound, yeah. Why did I do that? >> You put 10 10 Gs into it. What did it go down to before you sold? It was probably I think 30 bucks a share and it might have went down to 20 or 25. Look at what the shares are right now. It's probably in the hundreds. Maybe not even thousands. It's not even called Facebook anymore. Oh, yeah. 613. Wow! 10. So what's 200% of 10 Gs? 200,000. >> 200,000. If I just held it it would have been 200,000. Or 2 million. 2 million. It would have been 2 million.
6:51 But then you don't know ████ >> 10 Gs would have been 2 million? So that's why you're supposed to invest money that doesn't affect you. So if it dumps, you just chill and you outweigh the You just ride the cycle, right? Yeah, yeah, yeah. >> But then I'm so like I don't know I don't know ████ back then even less than now. Yeah. And then and I didn't even have money but I was like this is what everyone does. They make money in stocks. And I probably should have like tried to trade with five bucks or 10 bucks 100 bucks. But I was like proportioned to what you My personality is very like all in or not type. I'm like, "What am I going to do with this ████ ass ████ $50 bet? 10 Gs, motherfucker." >> [laughter] >> Most financially >> with the investment. You were wrong with mental and emotional management. >> Yeah. And that's usually the case. >> case, yeah. And experience, I think. Bankroll management.
7:41 >> a Here's a Here's a non-stock crypto bad investment. I had a pretty ████ good setup. This was 2000 I want to say uh 2010. I was living in I was renting a room in Costa Mesa with like in a house with six other dudes. I was paying probably 300 bucks a month. Had my own room. ████ life was great. I was gone most of the week anyways cuz we were doing so many Quest shows. So I'm like this is perfect. I ████ up cuz I ████ got with this girl. We decided to move in together. Uh I got a place in uh Little Tokyo that was about 1650 a month. And we broke up 3 months into the lease. Oh, ████ >> both in on the hook? No, just me. Oh.
8:31 >> Because she didn't make enough at the time to be like I think it was just all on me. And then uh So then I'm still gone most of the week. I don't even I'm not even enjoy this place. >> Yeah. And uh 1550 every month for like 1650 a month uh and it's not like I was making that much more than like it was like I could feel the damage each time I was paying that rent. And uh And yeah, within 3 months I'm just in there by myself in this like one-bedroom apartment. Like it's at the Hikari on Second and Central. So it's like a [snorts] really nice location for no reason. I could have just been living with Victor Kim ████ in Costa Mesa paying 300 a month. Costa Mesa. And I'm never home either way. But uh yeah, I ended up having to I never had to like borrow money to like ████
9:21 save my ass luckily. But I left that year with like not a lot to show for. I was like, "Well, that was ████ pointless." That sucked. And then I lost my deposit because a bird made a nest in the balcony when I was gone. What? >> What? That's how you lose a whole deposit in the balcony? Because I put uh cuz I had a rug on the balcony and then I guess the birds like nested on it like the crows. And then they all like lived full lives and died. So then like there was all this ████ on the balcony. Like dead birds and like all these like eggs egg failed eggs. >> [laughter] >> So you had a whole generation of birds. So then like So then when I got back to like clean up to like move out, I was like, "Oh, I can't clean all that s███." It's a lot of birds. A whole habitat and
10:11 then you just bounced on it. >> I didn't see it. Like I cleaned the whole apartment out and I was like, "Thank god this place I maybe I'll get my deposit back." I looked at the balcony I was like, "What the ████ is that?" >> [laughter] >> What's all all these failed eggs? Dead ████ birds, the ████ nasty ass egg ████ from the failed eggs. Like, "Oh dude, it's disgusting." So then I just left it. >> Failed eggs in a bird's nest looks like. >> Cuz you know like not not a lot of people know like not every egg is going to make it. Some of that ████ >> That's full of balut or something? Yeah, so like the egg might like the egg might like it'll just rot. Oh my god. So the bird you know freaking I don't even know what a rotten egg looks like. Just imagine like the free throw percentage of a normal crow probably ain't that great, but I got to see the results and I was like, Oh, and it was like the last day and I was like, "I'm out of here. Do whatever." I'm like, "I'll just take whatever that costs." And then they were like, "No, your whole deposit's like gone."
11:01 I was like, "Damn." Yeah, that was a bad bad decision. >> like the the money amount like when you're younger, like yeah, it's 1,600, right? And now you're just like, "I ████ that s███." But like it's such a ████ that ████ Please don't ████ that ████ >> [laughter] >> But it it hurts so much more. Mhm. Because the numbers that like To me it's not how much money Yeah. I lost or like what it was more like um For me it was like during college for the last 2 years I was like, "Oh my god, I'm going to Cal State LA. It's going to be so hard. Like this ████ university. I can't work while I'm studying. I don't want it to affect my grades and ████ right? I'm going to study my ass off. I still don't know how to read that good." Right. So um >> [laughter] >> I I I basically >> Just like Gavin Newsom.
11:51 I'm like you guys. >> [laughter] >> Dude, I I I basically just paid the minimums and like I was living off of my ████ credit card. Thank god like you know my cousin was helping me pay rent. And I was like, "All right, I'll just figure out how to like eat on my credit cards." And for 2 years I just racked up hell of money at like 40k by the time Like but I had my school paid for everything, right? But I was like for some reason I had it in my mind that I can't get a part-time job. And um I'm going to be straight now and I was selling weed and I decided to quit selling ████ Like I'm a I'm going to be a good boy. I'm a good boy I'm not going to suck dick no more. >> [laughter] >> I won't be tempted by other men. So I'll have a side hustle like you know I'll resell [laughter] ████ whatever, right? But then every time I did that I was like, "No, I'm pulling time away from my
12:41 study. I got to take school seriously." And then so like that's around the time we started JK, all that stuff. And then that wasn't paying anything either. So by the time I graduated I was like in 40 grand in debt and most of that was interest incurred. So that means if I bought a ████ McDonald's meal I was probably paying 50 bucks for it from all the interest incurred on that $10 meal. Ain't that the stupidest ████ ever? How'd you get out of that? 40 Gs is crazy even now. >> Can we do it? Can we do 20 on that? It was 30 to 40k I remember. But Cuz I I think that I think a lot of people struggle with that with credit card ████ Yeah. I paid it off in like a year and a half. So During that time as soon as I graduated um and what's ████ is that there were no jobs after we graduated cuz that's when the recession got ████ So I went to like like a job agency. I went to
13:32 three of them. I begged them to find me a job. I finally got one that was like an hour and a half away. >> Which one was that? Um it's uh It was actually ionized water stuff. It's crazy. But I was a I was in the I was in the warehouse and I was working in shipping. And then like >> Oh yeah, I remember you told us about that. The crazy thing was I was like, "I don't know how I'm going to get out of this mountain of debt with a $12 an hour job." So I started working plus side hustling. And that's the one where you ████ up the shipping, right? I ████ up the shipping? >> At the wa- the water place you like made a mistake. >> No no no no no, that was before I went to college. I went I was working in a shipping warehouse before that. >> the snowball method? Yeah, I I I don't know if this is the method, but basically What's that? What's the snowball method? I think you're supposed to do the highest interest first. Yeah yeah yeah yeah yeah. So I did I I figured out what
14:22 I had a card that was like 26% APR and I was like, "Oh my god!" >> 26%? Couple hundred dollars a month just on ████ interest, right? Um thank god I didn't wreck my credit cuz I paid like everything on time. So I opened up 0% APR credit cards, transferred as much funds as I could to that. Um I started tackling the most expensive card first. And then I would also on top of working I would side hustle. So I would resell ████ I would like you >> Oh, nice. Um Resell cars, resell whatever I had. Uh I I went back on eBay. I tried to sell a couple of like I before that I I sold airsoft guns and toys. So I knew a little bit about that. So everything I could do side gigs like someone's like, "Hey, come over my house. Help me out with this." And it it could be done, you know? Um
15:12 But that was my goal. Like every day it was that. And then JK like we we would ████ write every day and then film on the weekends. And so in between work and that and side hustling, the goal was once I get out of debt I could go full-time JK with Bart. And it took me like a year and a half. So Good for you though, man. That's an amazing story. It's great. Thanks. Thanks, yeah. Crazy. Yeah. And it did and I did get a little help from my family. My uncle gave me 39k? No. >> [laughter] >> 3950? 42k actually. I spent two at the top. >> [laughter] >> Ribs. Then I paid the rest. >> And then I bought the samurai suit. >> [laughter] >> That my friend sold for 6k and I and I gave my friend 15% for selling it for
16:03 me. So then cuz I was like, "I don't got time to do this s███." So yeah. So So So [laughter] that was like >> Buy an RV you guys. Buy an RV, flip it, you know? Yeah. Cuz five grand is a lot to knock down, yeah. That's a big jump, dude. >> [laughter] >> 39k. Hey, shout out to my uncle. >> [laughter] >> Thank you for for giving me 50k.
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