0:00 [Music] welcome back we had a freaking wild sick conversation with just right now while he was just wowing us by his entrepreneurship prowess he says all of his failures are some of our best achievements uh and stuff like that but we had to come back like that and go into part two because there's too much juice and we're getting too much inspo so we wanted to share that so everybody welcome back jaspreet thank you again for having me you guys are a lot of fun how come when you fail five times you don't go i quit that's normal people right well they quit after one yeah they fell once ago they don't even quit i mean they don't even fail they they they have the imagination of failing and they quit yeah they don't even start well some of our fails here and some of our success is here and then just breathes fails like here well so you know this is tough though
0:51 you know like the finishing ones are really hard because it's like i have nothing else i don't have any investments i'm like dang it there goes my bank account i got to figure it out right but for me in the beginning it was just for fun like i'm just trying to throw parties and you know have a good time with my friends and like my friends who were dj's like it was just that but i think as i started to get a little bit older i was like i have to figure something out because i don't want to be a doctor i don't want to be an attorney i don't want to work a traditional job i knew that i wanted to be this thing called an entrepreneur whatever that thing is but how do i do it i got to just figure this thing out and i was just like if i do this it will happen but then that thing ended up failing but then just wanted something else so why did why did you quit the sock game when you killed it in the first round you got some socks left so i did i didn't quit i was i was actually doing it um and we continued going um but then because i got screwed over i was like
1:41 man i wish there was something that like i could go to and learn from so i took out my phone and i made this class on something called udemy called how to launch a business without getting screwed over for seven bucks i was like if you like it just watch like i wasn't trying to make money i was like just like to help somebody who was probably in my shoes so just like whatever thoughts that i had and i put it under the alias minority mindset the whole idea being i thought i thought differently than the majority of people because the majority of people were partying i was hosting the parties majority people like when i first saw your page on the explore page and i just saw like minority mindset i was like yes this guy thinks minorities are better than everyone else too i started [Laughter] when i saw a minority mindset i thought
2:31 he was just gonna lecture us like an asian dad some people say that is what i do stop spending all your money be a doctor yeah or not most famous video so i did that under the alias minority minds the whole idea of just thinking differently and people were like oh do you have a social media page and i was like no then i created an instagram page and i started posting you know random stuff and they were like oh did you like because i was like posting like long captions of like you know you know here's what you can do if you have this idea and then people are like can you please start a blog so we have more in-depth content because the instagram is you know it's only this much content that you can put on it i was like look man english is my second language you are not going to like my writing i can't even write that coherently properly so no i can't start a blog but i can talk so i can make videos so i started making
3:22 these videos as a hobby off of my phone um about how to launch a business without getting screwed over some basics of money management that i knew some basics of investing and i was this was a hobby but i was really focusing on the stock business because that was actually profitable and i was making money um but then this youtube channel started to grow and i was at like 10 grand 10 000 subscribers and i remember a friend asked me he's like dude how much money you're making off of youtube like what are you talking about he's like your advertisements like what are you talking about he said you know you can make money from youtube videos i'm like dude i have no idea it goes into my back end he's like this is before there was any monetization requirements that you don't need subscribers or views anybody could monetize anything because you just hit this button you start making money in your ads from ads i was like oh yeah let's hit that so yeah we should do this let's click that because for me it was just honestly like
4:12 a way for me to talk uh to people about the things that i enjoy because you talk to your friends about you know in entrepreneurship and finance they're going to get bored they're all losers yeah yeah oh this guy again yeah they're all doctors really you know most of my friends are doctors and they don't like hearing about it now they're like dang it dude like teach me what you know let me watch the video tired of saving lives i got all this ████ doctor debt damn yeah it's crazy and so that's that was uh how i started making videos and then the youtube channel started to grow and i was like well i'm not very passionate about socks like i like the business i like the entrepreneurial side i like how i can scale it it doesn't need like my face or me but minority mindset it's not making as much money but i like this like i actually like
5:03 what i'm doing i actually feel proud of what i'm doing i feel very happy with the impact that i'm making even though we weren't that big and so at around 100 000 subscribers my patent got denied for the sock company because they were like it's not original enough and i was like well okay because i actually i was working on um trying to see if i could get some licensing deals someone was like hey if you get a patent we'll try to connect you to under armour and we'll try to get you licensing because i was good that's the real play well the patent got denied so that all went through the window and i was like do i really want to build a sock company and that's when minority mindset started growing and i was like well let me try minority mindset because i kind of like this a lot more actually i do like it a lot more socks are you know just socks at the end of the day very necessary they're very necessary so i started every day i started going less and less effort on the sock company eventually shut that down and put all
5:54 effort some minority mindset and then started building other companies like market briefs which is the main company that i work on uh and minority mindset is just you know my personal brand talking about the things that i wish i knew when i was getting started what's what's market briefs market briefs is a financial newsletter so like if you want to i thought there's underwear yeah although socks it doesn't get wet yeah so the interesting thing is uh we we sell underwear you do we do market briefs we have marketplace so the whole idea is if you join marketing you have the market graphs on the under yeah we do so so here's the here's how it works so marketplace is think of it i wanted to make financial education and use more accessible because you know if you ever turn on cnbc you don't know what's going on like it's a bunch of tickers you know it doesn't make any sense yeah so if you want to be aware you want to be an investor where do you go well market briefs is it easy news that are five
6:45 minutes long that you'll break down everything you need to know from stocks to real estate to crypto to inflation in a very easy to understand format so we have something called the 16 year old rule if a 16 year old doesn't understand it is too complex so that's the newsletter and then what we do is if you refer people to our newsletter you can win rewards and we have different tiers of briefers or readers so if you refer x number people you become a golden briefer and we send you a golden pair of briefs next tier is blue briefer we send you a blue pair of briefs and then signature so yeah we do have underwear i'm going to link you guys okay i'm going to get those gold pairs nah yeah exactly sign it up right now hey i'm going to sign up under jk news we want we want a golden underwear ████ you guys dude i'll get you guys it's my problem right here
7:35 how do they find is it just marketbriefs.com marketbriefs.com and what's the other one insider market insider so that's an app that we created for the education side if you want to learn how to be a stock market or a real estate or a crypto investor you get weekly coaching sessions you can try it out for free it's a free 10-day trial to see if you like it because i hate uh programs where you pay all this money and then see if you like it or not try for free you get 10 days go through the entire thing if you like it stick with it it's very affordable uh if you don't like it no problem no no cost to you so it's an educational um uh if you want to learn how to be a better investor for probably should have known that because i was so deep into luna yeah so so people you're gonna use this a lot you invest in cryptocurrency i do invest in crypto i invest every day into crypto i buy bitcoin and ethereum and a couple other smaller coins
8:25 he's a dca dca wow yeah so i buy it every day right so you bought it at like 69 grand you also buy it at 20 grand yeah i think um i started dollar cost averaging probably when it after the peak it started going down 2018. no uh i think i started dollar cost averaging crypto 2021 um i don't remember maybe it was around 69 but i was it doesn't matter what the market's doing i'm buying every day bitcoin ethereum i think we're going to go through a lot of turmoil crypto i think yeah why do you think we can go to so much turmoil uh well so we had a big crypto we had an everything bubble created in 2020 2021 because all this money was printed by the federal reserve bank while no wealth was being created so just think about this no one's working nothing's being produced got to be
9:15 correct but money is being printed right and so if you're getting money and you can go to the store and buy stuff but no stuff is being made what's gonna happen you create supply chain issues because stores are selling everything and they have nothing left because no one's producing anything so this started creating all the issues that we're seeing now and all this money floating around that had needed to go somewhere so started going into speculative places tech companies crypto crypto exchanges doge there was just a lot of money out there people had money well now that the fed is realizing that all this money printing caused inflation now they have to do the opposite they have to take the money out of the system they're literally burning cash and so that means anything that was a byproduct of this bubble is going to get hurt crypto was a huge byproduct of it and crypto unfortunately i mean still today uh
10:05 price is a huge indicator of of like people's opinions of crypto when it's up everyone thinks crypto is the future when it's down people it's a scam yeah and so what you have to know if you actually want to be a crypto investor you have to actually believe in the technology the blockchain what do you think of it and if you believe in the long term value a down price is a better opportunity for you to buy and so you know that's the first thing you have to ask yourself if you don't believe in the blockchain if you think it's a bunch of crap and it's not going to be around in 10 years don't buy it but if you think that blockchain is going to be a big part of the internet and our future 10 years from now then this is something that you can consider buying and i do the dollar cost averaging i just i buy it a little bit every day i believe it and i lost a lot of money it hurts my feelings i'm sorry i'm sorry that's just how it is i bought
10:56 bitcoin at 35 grand and i sold it at 28 they did a good job yeah me too i did the same thing they're really good at buy high sell i'm gonna wait until 30 to buy back in i appreciate you selling it for a discount trying to hug people up you know you're aware of the people dude is there any hope for my we work investment oh man you brought wework no i just i just watch videos about it and i'm like so can i ask you like how many real estate properties do you own now oh i don't know an exact number but it's the units uh somewhere in the uh dozens wow at uh what point do you start going to um groups that are selling like a whole portfolio like when you at some point you know like it's like just buying one at a time it's kind of time-consuming i've never bought a
11:47 portfolio a lot of times portfolios are gonna be like single-family homes uh you can buy apartment complexes if you want number of units in one place i've never purchased a portfolio it just depends on the person like if you want to buy a lot of homes in a certain area i've seen them for sale but i've never bought them i bought apartment complexes but never uh portfolios what's your niche like residential residential anything single family single family or multi mostly in michigan mostly in michigan is the uh is the real estate market about to uh as well you know it's gonna come down to one thing and everyone wants to know are we gonna see the real estate market crash well it just comes down to what the fed does if they keep raising interest rates which is what they say they want to do doesn't necessarily mean that's what they will do but if they keep doing that then yeah we'll probably see real estate prices come down it's not 2008 because 2008 was the real estate bubble which then trickled down to everything else
12:37 now it's the opposite it's everything else that can trickle down into real estate so if people start losing their jobs because of everything else going on in the world well then they're not going to pay their mortgages and then that can affect the real estate market so if the fed keeps raising interest rates i do expect real estate prices to come down when people start losing their homes that's the best time to buy right it is the best time to buy it because i'm a noob you know what i don't know yeah i want to see blood in the streets uh and i still won't be able to afford one but i'll know that's the time to buy it i'll tell everybody else are you about to miss a mortgage payment like oh my god oh man it's good for you straight to your neighbor you mentioned that like uh english isn't your first language um so when did you
13:27 come to the states i was born in america oh uh i was born in michigan you just went to the wrong school i went to the wrong school mother tongue or whatever fur yeah and then you learn english on sesame street or whatever exactly so we i never saw sesame street we didn't really have i don't know if you haven't had vanity or cable like we didn't my parents didn't even know what that stuff was because like they would go to these meetups and people would talk about barney my parents had no idea what they were talking about so i never saw barney and sesame street and all that my brother got to see more of it but uh for me i never really got to see that i was uh out my it was my parents my grandparents um and i cuz as soon as i was born my grandparents moved um with us from punjab or stay in india so they were living with us so you know i was i got to spend a lot of time with them because my parents were working all the time i
14:18 didn't get to see them that much what was what was so obviously you've done a ████ ton of things but uh there's this constant thing that your your dad always wanted you to be a doctor or die right um what was kind of like the moment or the parental perspective as oh yeah what did you choose to share with them so when you felt comfortable about not being a doctor i didn't really tell them much actually so there's a couple of scares that happened because i was hosting this my event planning company and i had this really big event we were doing this like there was this concert going on we had the official after party it was a pretty huge event it was in detroit and um parents showed up no my dad called me as i'm driving down there he's like are you hosting some event i was like oh my god my heart starts pounding i was like wait what are you talking about she's like oh someone was saying that uh some dustplate is hosting
15:09 some event i was like well i don't know what he's talking about i gotta go study tonight i i don't know i guess that's crazy how common is jasper yeah so it's a common name it's not like super common but it exists so okay okay that kind of blew over but that was like a real big scare and then um it happened honestly uh he's a subscriber by the way yeah he might be now um so i was hosting no actually no this is the soccer company they kind of knew i was doing something but they didn't really know no um but my parents got a call from one of their friends and they were like i just saw your son on the news and my parents like oh my god what did he do now and they're like no no no he has his business and he's doing really well and they're like what are you talking about so they they're like oh okay okay they hang up then they come to me they're like what are you doing then i had to break it i was like well i
15:59 had the sock company blah blah blah and then there once they heard other people talk about how just doing well yeah the news it just changed and that was when it immediately changed that's when they started supporting me um and it was even because everything you got caught on was the sock company the success the success of yourself very glad it was then because you're even successful in getting caught yeah yeah and i was really scared i was like oh man because when i told them i did i told them that i didn't want to be a doctor which was my junior in high school when did you actually tell them that so i told them a junior in high school so they found out about the business stuff later on because i still thought that i was going to be an attorney and this and that but my junior year in high school was when i told them that i didn't want to be a doctor and all hell broke loose rushed them huh yeah my um that's the asian coming up yeah
16:51 i was i took the mcat and then after the mcat i was like there's no way i can be a doctor like this is definitely not for me your score wasn't that good my score was okay i aced it no i i don't think i i don't think it did like amazing i didn't do great but i think i could have gotten into medical school did you score in the 30s uh was it during the time is it still like or 45 or something i don't remember what i think it was like close to 30. that's what i remember because i was remember that was like the the hit this and you got to get in i remember i was like oh i'm just like close enough so uh what happened so like uh you took the mcat and then after you told him i can't do this he just put a stethoscope on he listened to his own heart that's stupid he's like i'm dead i want you this is not for me i told him i didn't i can't do this i'm not gonna do it and my dad was very angry and my
17:43 mom couldn't believe it like my dad was like very furious did the dining table survive i don't know what survived like i had calls coming from my family members across the country and from india saying why are you disgracing your parents why are you doing this they long with are you disgracing your parents i really love your socks though can you send me some more yeah you got some more clubs too so is that where a compromise happened where you're like but wait i'm gonna do law so that was so my mom didn't believe it she like did not think that i was telling the truth i was just joking and i was like dude i'm serious like uh until like my senior year for like a year and a half my mom really did not believe that i was being serious and that was my parents were like you have to at least become an attorney to keep the prize oh they even told you the bargain bro like the bargaining power
18:33 just be a lawyer you think they had this like conversation in their bedroom that shows you it's just like yeah what are we gonna do with this guy it's like sucks no no we gotta at least get him to be an attorney because his stocking is so disgusting isn't that a crazy pivot though because you've been studying your ass off for the mcat right to go to law school and now you got to study for the lsat which is i didn't know what a prosecutor or a defendant was like i don't know what which one who who's the plaintiff i don't know what these things so i don't know any like when i i came into law school probably one of the dumbest people there like when it came to law because people they're like oh my father is an attorney this person's a judge i've been doing this and i i knew like i didn't even know how i don't know what a judge was like you're like i almost got food i saw judy on tv like is that what it's like like that's the extent of law that i knew that's me settlement i know actually it's funny because i remember i was i was walking
19:23 with my law school friends one day and what was the word um acquitted i i was trying to sound smart right and so i don't know which one acquitted words did you get did you get in trouble did you not get in trouble yeah what does that mean i know no nickname yeah i'm curious i'm asking so acquitted i i don't remember which one it is but i remember that oj yeah off the hook just think of the o.j you're off the hook you're off the hook if the gloves don't fit yeah so that's not innocent then no is that it or is that it i use it in the wrong way and they were like oh really someone backed out and i looked it up on google and i was like yeah by verdict of not guilty the verb is ojd yeah you're off the hook you used it wrong all while you were already used around walking around with just like smart law school people and they were like oh really i didn't know that this person was acquitted and i was like oh dang did i say the wrong one i go and checked it on google i was like dang i i can't correct this now i'm just
20:14 gonna say that i was wrong but yeah i mean that's like i did literally didn't know anything about the legal system how this stuff worked but it was i enjoyed my time there like it was fun i learned uh something i mean that's a lot of stuff that could help business isn't it yeah do you think it helps your business at all now like all your entrepreneurs i don't do any i do i have attorneys man and like people that say the same thing oh you can review contracts there's no way that i would want to review my own contracts like i don't trust myself to review my contracts so like you know people come to me with legal questions i refer them like i don't do anything when i read how do you even read this ████ man the the wording on it i'm like what the ████ is this here and there and there there there yeah it's like therefore and thereof on this date of renewal by acquitted acquitted yeah dude double jeopardy hurry up there's a lot
21:05 of words i'm just like just sign me bro if we get into a fight let's ████ know what double jeopardy is i don't know what double jeopardy is nobody knows can i tell you something it's the thing that goes what's scary about law is like you're in a situation right and you're like okay cool here's like some sort of engagement that i'm gonna be in i need a lawyer to look over that right yeah so you hire a lawyer but then the lawyer sends you an engagement thing yeah and you're like well who the ████ that's my back where do i set this thing who's going to read this the assistant lawyer let me talk about that for a second because i agree and that's all right the traditional law is such crap and it's not just for the people but for also the attorneys because when you get in the higher end like you want some real business attorneys like they're gonna charge you up to like two grand an hour and the
21:56 reason why is because you have all these layers of crap in the system and it's like oh you got to pay the associate attorney you got to pay this attorney it's like the most outdated industry i hate it yeah the way that the way that they they're like oh yeah we're going to be your lawyer and then they really just get like one of their ████ assistants and then they still billy it's like 300 at their rate it's like oh i sent this email cost it took me like 30 minutes so it's available on 375 an hour so you're getting chart i literally looked at ████ and i remember we spent like 30 grand on a lawyer to handle something for us and i swear to god i could have done it myself it was the biggest ████ waste of money so that's why i invested in the company called up council to help break this traditional law industry you got answers bro you just gotta because i was like you know what am i i wanna because at first i was like maybe i could create something but i was like we and me and a buddy my from law school
22:47 he's a good friend of mine he actually works with me now and the reason why he became friends is the first day of law school he asked me he's like just what kind of law do you want to do i was like i don't want to be an attorney he was like me neither so we became friends because he wanted he was a business person we stayed friends throughout law school um but him and i were like you know because we kept talking about this about how like old school this whole system was so we started like talking about what can we do how do we change the system make it better for people make it better for attorneys i've counseled dogs today you're so ████ good dude look at this i'm about to sign up for everything yeah where's your only fans working on that stuff maybe you can help create me one [Music]
23:47 you
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