0:00 and fundamentals of Investments that's a different story small amount of money and a big amount of money we're pretty good at that what a ride cashing out we don't know how to do it [Music] welcome back everybody to another great episode of the careful boys where we are currently we're good wow keep that as a sound bite from now on we should just play that regardless of people mouth it let's use it recommend continuity man yeah all right that being said we're doing our final part three of the first quarter of 2023 is over let's get a live catch up on we gotta hear from Steve and Joe and maybe if we got room for okay content Nick can go again so Steve how you been man I'll be good
0:52 buddy I'm I'm actually I'm actually good I um I'm excited oh I told you I was very excited right now because I am interviewing the community manager for woo my favorite crypto uh next week on me and Nikki's podcast they're excited about it he's coming to be on your show it's gonna be on my podcast yeah we're doing it remotely because he's like in another country but it's but I'm very stoked on it because um I've been following the project for a long time I've been carrying the project in my back forever so it'll be fun it'll be really fun is he like you've been the poster boy for woo where'd you get that idea I don't know it's weird do they share it do they share the JK news stuff all the time because of what you're wearing and what you're doing I don't know but I mean it's definitely been shared like they put me in their Community thing and they call it JK Woos JK Wu but I um yeah it's just cool because it's I mean you know
1:42 like I remember I was in this room um when they tweeted that I was wearing this nft hoodie and then it's like cool to get to talk to the guy because where are they based out of all over but not China taiwan's part of it right which is China got you Joe oh and um am I right boys let's go can we send this to Jackson Wang's team for swim we're sweating right they'll like that yes cut this clip it so this is actually the same thing yeah they're like this is good no but um they're all over they kind of have like 200 I think just about 200 employees but they're all based all over the place decentralized like one would hope thank God they're not in the United States of America where cryptos being cracked down upon right now Big Time SEC operation choke point like they're
2:32 really coming after crypto stuff so it feels good knowing that I'm not you know it's not in the United States so I don't have to sweat it as much so yeah wow that's pretty cool how did Nikki take the whole thing that you like hate Filipino food yeah she laughed unfortunately I know she knew you were serious or what I'm a dull knife you know what I mean like it's like it doesn't work anymore I've just been cutting her so many times with like the same jab and it's like oh yeah it doesn't work she seems resilient then she is she really is yeah she's used to but then um yeah no it's great I I'm I'm doing good like um Nikki's obviously the best I mean like everything there's always amazing she's still the major Breadwinner for the house major Breadwinner yep she's making the poker Queen she makes the bread Prince the money yeah poker white has she been playing any more tournaments she's been
3:22 playing tournaments yeah it's it's it's definitely like tournament season about to be because because when she won last year it was like May yeah so like it's coming into World Series of Poker right now so she's kind of getting ready for that it's kind of like how an athlete trains for anything like they go and they're like train huh yeah oh wow and like it's like breaking a sweat and stuff like that just moving chips around dude it's a lot I respect you know I like I like to make fun of everything obviously but knowing so much more about it about poker especially I'm like man these guys are really they work their asses off like and it's I know people just want to be like ah just gambling and but dude poker is such a game out there like it's crazy It's a Grind like Joe Knows like it's a girl it used to be one of my favorite sports to watch on ESPN yeah it was it's intense I still dude I'll sit there I've watched a four hour long
4:13 poker stream with Nikki it's just really I I think that it's one of the better Sports dramatically like visually because the Flop is so interesting and the way the turn comes like it's really dramatic and every time I'm hanging out with poker people now I'm always like you guys don't get as much respect as you deserve as far as the entertainment aspect of Poker it's very well I think you gotta understand the game first and then once you understand it that it's like chess but then because of the way it can be played it's almost has this like Clint eastwood-esque Vibe right once that flops and it's like when you like look at what is this gonna do and it's like cuts to the card because of that guy you know it's like literally like a like a like Showdown and then they're like chess
5:07 if you couldn't see the other players pieces and what they got on the board and you bet on every move you put a pawn 50 G's behind that part your own money worth like honestly and there's natural disasters on the board oh yeah so like there's like you could play All the Right Moves you could do all that in a tornado and Battleship at the same time the person checkmated with all around their King and then a tornado comes yup and saves them well that's how statistics works right it's like well this hand that has a 90 chance of winning but statistics are like you could flip a quarter 500 times and it hits heads like you just don't know that it's absolutely gonna hit Tails next time you don't know don't know it's it's wild like that so you know but people you know and I've learned that that statistics are like that recently I did
5:59 I can't say I always knew that because like I remember whenever when Trump won like the morning of New York Times is like or it was like 5 38 Nate Silver's firm they're like Hillary's gonna win 90 chance that you know or 92 chance or some Trump has an eight percent chance of winning he can't win basically right everyone's climbing on it but then he won so it's like yeah if you ran the simulation 90 or 100 times Trump only wins like eight percent of the time but that can still happen and that's what so people like clown that guy and they go he's a idiot what a idiot he thought like Trump was going to lose but it's like that's how statistics are dude like that's it can absolutely yes the chances of it happening oh but infinite infinite rounds exactly yeah doesn't make that guy a idiot because he was wrong it's just it's fascinating because I used to think more
6:49 like less credible what about what about turtles have you killed any Turtles recently I'm not thank God but I also haven't been fishing recently and fishing season's coming up statistics again I'm scared especially because my neighbor starts talking about like how we're gonna try getting catfish again I'm like dude we never got one Cafe in your guys's Lake there's a there's catfish in a guy's Lake really that Lake looks like Kool-Aid water what the you saying about my leg dude are you serious you're gonna tripping my property value down right now no I'm just saying like you look at the color of the water and you're like someone put dye in there it looks good I like that no because you he put like a bag of dog food and like threw it in the water the morning up yeah and then like 10 hours later we went to my buddy my buddy's place and like fished off of his dock for Turtles
7:40 though he fished for Turtles well no we were just trying to catch cats we're trying to get catfish all we brought up is turtles turtles were catching just families of turtles just screaming up the line screaming can you eat the catfish in there or no you probably wouldn't want to eat any of this stuff coming out of liquor well we can't because it's Kool-Aid water well no because because it's it's not supposed to do that uh in this area you know what your friends should do your neighbor just stock the the pond you know what he should do what buy a fish put it in an aquarium and try to catch it there then we don't then we don't accidentally get turtles yeah right that I think is a good unless he accidentally buys turtles because he could stock the pond wait and then there are there's like gonna be a ton of fish that he could catch well they restocked the pond constantly apparently with turtles exactly yeah
8:31 Turtles non-stop dude that must have been horrifying it was my first pet as a child it was a turtle I had a turtle named Tommy the turtle damn that's pretty hard which is also most of my internet password I'm in when you're when you're in Vegas what do you occupy most of your time with okay so me and Nikki's podcast is like my biggest like you know like we could prep for it or whatever and then we do it and then um you know during the week it's mostly just crypto like all as much as research do yeah research about crypto stuff I do crypto Corner every Tuesday night 7 P.M Pacific Standard Time on Tuesday um so you do crypto like a stock Trader like you're like researching looking at charts I'm a value investor I don't try
9:21 I don't trade I mean like a like a stock investor like that you're in it I'm in it I'm in the game I mean I mean I look at it as like I'm already beating me and Nikki's 401K that's for damn sure because I still watch my uncle just stare at like tickers and and he would just watch like four screens for like four hours looking at this red and green things I'm like this is the most boring I never want to do that yeah that's some day trade how rich is he now probably is that rich I think he sucked at it oh day Traders scared me dude because like you can I mean there are some people God love you they're killing out there good for you but I think my method works better as far as like time spent and and like you know value investing making sure that you have a lot of something so that when it takes off you're part of the top of the rocket so that you're getting the most value
10:11 out of your investment and like even if you didn't buy the perfect low who the does right you're capitalizing on the low because you know why you bought it that's the whole thing that's the trick to the game that's what Warren Buffett does like that's what all these other guys do I think it works really well that's why I've done it so many times now turn a small amount of money into a very big amount of money um and yeah Luna got killed and stuff like that but I still cashed out a lot so like thank God but um thank you Vladimir Putin thank you uh Ukraine war I I freaked out I freaked out I had to pull money out I was like I don't know what's gonna happen and that was uh what ended up saving me like big time he kept me alive for the run right so now it's like I'm trying to make sure that I'm in the right move at all times right so it's like you look around you make sure that you you're analyzing what the competitor is doing but man I have to say like use case wise
11:01 like Woos has been up there the whole time solving a real problem that crypto has which is fragmented liquidity and Woo is is you can consistently check it is one of the top liquidity providers for every pair that it has and it always flips the switch and has a huge amount of liquidity because of who's backing them which is group called Chronos they're huge Traders they do like five to ten billion dollars of Trades a day um and they incubated with so it's a really exciting time right now in crypto um so yeah especially now that the other Banks aren't providing it so now the the pool is shrinking on who's going to be able to provide that liquid and a market need is emerging right and that's that's the game baby like you've got it but you have to be paying attention and that's that's the thing about it like you know I I do spend a lot of time on crypto because I want to make sure that I am
11:53 attuned to what the market needs that's why every run so far I've done really well because I knew what people were wanting not because I'm so smart or anything like that I'm actually just paying attention to what the community needs and I try to invest in that area like it's not much more complicated than that but it you know yeah it's work it's it's but it's fun I love the it's my hobby I love it so yeah that's so cool yeah and because of Steve he does the homework and we dump the money in Steve's picks and we win we all win together it's been fun it's been fun now cashing out and fundamentals of Investments that's a different story that's a different story right until we die small amount of money to Big amount of money we're pretty good at that what a ride cashing out we don't know how to
12:44 do it we haven't gotten there we literally don't know investing fundamentals what how are you buddy uh pretty amazing now not that I wasn't but I've been uh it's been a roller coaster at you know Hawaii like I've definitely bit off more than I could chew I think um it was one of those things where it was a great time but also a scary time because like uh once Luna got taken out I think I only had like 150k to my name I didn't have left I mean it's that's a lot it is a lot but this this is what I'm getting is I still owed about 200k into building this project oh so I
13:34 had to figure out you know what what I was gonna do took a loan out whatever so I got wiped out as in like whatever I had there um it was all into jumby Hawaii so that was my like I gotta make this work if it does not work like I mean I got JK but dude like I don't know I I have no idea so that was really scary it was the first time I got to that point or maybe second because after oh OMG I had a similar experience but I got myself out of it and then I think like now the store's pretty much running like we got it going all of my projections on the business was like pretty uh close to Accurate meaning like before you start the business right you want to run your comparison and think like
14:25 how much are these stores making what is the likelihood of me making this much it's just doing your homework and one of the things is like it's it's one thing that like think about it and go would this work and then you might feel that you're right but unless you test it but then in business the way you test it is you gotta put money where your mouth is right and then I don't know I was still like I feel confident but I'm not sure but I was able to hit all those points and at the lowest we still broke even so we had our worst month in February November December was great profited the first month February broke even March profited so I'm like if February is the like worst traffic uh uh tourist season it can only go up from here and so now I'm like oh this is cool and I got to
15:15 experience like opening up a new business was like I've already done YouTube I've done internet stuff digital content all that but having like a store and running a team building that all that was like it's just something completely different it's kind of the same but I mean I'm sure you know you have a gym right like it's like the physical world versus like running an internet company it's a nightmare it is it's a deal with real people like a lot I mean my team they're amazing but yeah there's just a lot man it's been yeah there's just a lot of things that I didn't think about well you told me about training the employees was wild for you for a little while yeah and I mean I think also because I'm learning while I'm training like when you're opening up
16:05 a store you're learning what you know they're teaching you and then you're trying to develop a system while you're teaching them and then usually when people you know train and get into a job like other people are experienced so then you have a bunch of people that don't know what they're doing together and then you just gotta make sure that no one's like freaking out because you literally made up the rules yesterday yeah about it today and no one knows what they're gonna see it if it works tomorrow at least also corporate's not with you because you guys are have a good relationship with Jimmy corporate right yeah but some people who are doing franchise Chinese out there it's like whoa that's a whole other battle yeah yeah that's what I'm I feel like super fortunate is like it's it is literally like we're friends and family like it's family members that bought franchisees and like friends that got together so yeah I I feel like they had
16:57 my back it was just like it was just a crazy world and then now I'm just snapping out of it like oh I can relax now I've noticed that yeah because I would get phone calls in the middle of JK and I'm all like oh my God the store's gonna burn down there was a stretch where I had never seen any more tired ever like ever you know what I mean like you guys know was there like a phase where like you feel like you're the tension or anxiety was like an all-time high and finally you're like oh I could take a breath right now yeah it was it was when I wasn't in Hawaii and when I was in Vegas and there was a stretch of like three months where I couldn't do anything um the store wasn't getting built we were just draining money and then like I felt like no control like my all the power was in the hands of the city giving waiting for the city to give
17:49 me approval and then I'm just calling I'm just asking like when is it gonna happen and then you got like our own landlord pressuring so like it was like being in this weird state of like you have no power but everyone's looking at you to make a decision but it's like not in my hands yeah and all you can see is your bank account just draining and draining and draining and you're just like when is it gonna end that was the most scariest but actually the easy part was like working 15 hours a day because there's something about being able to do something like working toward it and seeing things like like incrementally get solved so like let's say like you start seeing equipment and things getting built in your store even if things break like
18:39 it's getting fixed right so it's kind of like that feeling of like progress yeah like you're fixing something or like and it becomes kind of therapeutic where like there's problems and then most people will say problems equal stress and then I started feeling like oh let me solve it because I love the feeling of like I fix this now I feel better I fix this now I feel better so I think like what I've learned from this whole process is that um when you're not doing anything it's the most scariest and depressing but when you can actually like work on something every day it's uh it's healing like mentally and emotionally and then people think working is stressful but I think not working is actually stressful because
19:30 then when we were working like you can see the movement and then it's like being able to go out and do something about it versus like just waiting and waiting and waiting and like worrying yeah that was killing me the most but the cool thing is like I always dreamed about balancing my life out there and now it's like I'm waking up and I'm like yo let's just go swim for a workout and we're just jumping in the water taking a quick little outdoor shower and then like our our shop is like right there a few steps away from the beach so you just walk around you check in on it oh you got to do a few things here and then it's like these cool little breaks like because of how small Hawaii is right it's like you could get up in the morning be in a crazy beautiful hike jump in the
20:20 waterfall and then go to work and then that balance is like this is this is what I did this for yeah that's pretty cool now you're finally getting a reap all the rewards of being at home yeah because the first three months even um we weren't we were we were just Waikiki that's it the shop and the office and in the only time I drove out was to go to Costco or like to do deals or something and then so I felt like I was in LA still but then now it's like it's changing it's changing yeah I could skate to work I could ride my moped and do this and then like it you know like I don't know and pretty soon I'm gonna be going spear fishing and then I connected with uh some of the influencers out there they're like yeah we're gonna go deep sea fishing and doing this and that so now it's like everything's coming
21:10 together where it's like you work hard and now you get to play hard and then this is the lifestyle that I wanted and I'm gonna be able to achieve that very soon yeah thank you jealous thanks guys and then come down come down yeah unlike unlike Nick where he comes down for five days straight and sees me for one hour but like you guys I saw you at the wedding dude you're just a bad person I think I'm a piece of I think Nick if he could he would just drive by JK and wave and then you guys send me my check please foreign
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