Patrick Bet-David: We Need to Have Uncomfortable Conversations | CLIP | Crossroads

[Music] Patrick Bet David thank you so much for being here of course so Patrick I was saying last time we spoke you had me on your show we were talking about covid Origins and lab leak Theory which at the time as we know was a dangerous conspiracy theory and uh you and I both said otherwise and here we are now you you guys had a phenomenal documentary which prompted the conversation and you were exposing a lot of things that was going on a lot of things that people were thinking about so we had a great conversation together yeah well you know that's what I like about you though you don't avoid difficult or controversial topics but you know you m you maintain good a good credibility you maintain your frame and I think you're able to touch on topics that people don't dare touch on but you I mean you're still on YouTube somehow I don't know how you do it yes so my my Approach is I like to bring people from all walks of life it doesn't matter what whether we agree or not I like to talk to you Chris Cuomo and I are slowly building a friendship together but when we have our three-hour call together guess what it sounds like debate arguments how could you say that you know Anthony fouchy this how could you say he's a good guy how could you that's how we talk yeah and I think that's okay it's okay to have the conversations yet we have things in common we both like to work out he wants to be a good father he loves his family's Legacy we just don't agree politically on a few different items that we're talking to about I think the challenge of of what happened with many of these platforms where everybody just wants to talk to people they agree with yeah is a leak because it it it shows a sign of fear that you're afraid of something being hidden God forbid you get called out maybe you look embarrassing when your answer is not right or you're being exposed and that's okay we just need to have more conversations and that's been our style that's what what's worked for us for the last few years you know I like that because if I look back when I was younger I had disagreements with all kinds of people but I was still friends with them and I I think we have this culture now where we're so afraid of argument or disagreement or getting shown as wrong in that case that we just avoid it all together and you're saying that's not a healthy thing for society terrible thing to do because we need debate we need discourse we need disagreements we need arguments the only way we find like for example let's bring it to business and capitalism okay say I have an idea your a I was going to build the next Groupon okay I don't know if you remember Groupon or living social Groupon $6 billion company the founders undercover of Forbes and Fortune Magazine so I spent a bunch of money I I build this company called goodie Squad okay and I build these four cartoon characters and one of the main guys name is Newton this shih TSU dog and I bring my entire advisers in a room in Woodland Hills and I said guys I got an idea multi-billion dollar idea here's what we're going to be doing I present it from the moment I present it you hear what about this I didn't think about that did you know this about living social did you know what the margins are on the back end did you know here's what's going on over here did you know this this that I said okay then I came back and made a decision when we're about to launch our software and we're investing you know $3 million into the software we bring one of the companies we talked to they were charging us $5.5 million and then I said why don't we have multiple people coming in debating each other on why we should give them the software and then they debate and then we come back and we debrief and I said look I don't know I don't want to give those guys a $55 million job let's give these guys a $3 million job because of five people arguing and debating with each other on why something is good or not what if we don't have those conversations so the reason why debate is necessary because Clash of opposing ideas leads to the better idea it exposes a leak in the other ones so we just need more of it you know that's interesting I'm a I'm a big fan of Austrian economics and such I was reading some of these older books you know like talking about like socialism problems with socialism and one of the things it brings up is this is that when you try to manage things from the top you try to you try to say that there's one size fits all and this one idea is how it should be applied everywhere it misses the Nuance of the situation on the ground that sometimes even changes from location to location and when you try to say you know 15year plan everybody has to do this you miss you miss the details and sometimes you don't take into account certain situations that are unique that you know might bring up issues you never even thought about and that ties into the nature of the free market which is typically based on the direct feedback from the consumers the direct feedback from the people buying the products and putting things into practice saying hey this might work there but it doesn't work here do you do you see that as well working with like debate and uh discourse and maybe some of the conflicts we have as Society I do so so think about where socialism Works where is it good to be socialistic I can't think of anywhere maybe maybe with your maybe with your parents yeah what if you're socialistic with your parents yeah yeah does that make sense over there yeah think about it like what I mean by this you give your mom two grand a month you give your dad $2,000 a month you're already financially free they need help fin ask is it okay to be a socialist with your parents your grandma giving everyone the same prize that's what I'm saying so so the concept makes sense if it's by choice yes the only reason it doesn't make sense is because it's by force if I choose to have a million dollars and I die and I have four kids I leave each a quarter that's an element of socialism but it's by choice the problem with that concept is by force I'll even go a little bit deeper here's what's going on that we have to be very careful with today as well my interest is let's take a crisis okay crisper C9 Gene editing let's take that oh my God I'm so worried about this right let's take cyber attack emps let's take the next pandemic let's take a cyber War let's take a nuclear war let's take all this stuff what's fear porn I go 20 minutes scaring the crap out of the audience boom buom buom buom buom boom boom boom boom the audience leaves the video or the discussion and they say oh my God babe you won't believe it what if this happens what if that happens then you finish the messaging instead of doing it that way you say here's what's likely of happening the likelihood of that happening in my opinion 5% 10% but if it does happen here's seven things you could do to protect yourself as a financial adviser for 20 plus years I'm series 766 3126 life and health I sit across a kitchen table from families all the time client says you know I want to put 5 million into such and such investment great what's your risk tolerance what do you mean are you okay if this 5 million goes to zero no great then you may want to reconsider putting all 5 million into this maybe you put $500,000 into this what percentage of the 5 million are you comfortable losing probably no more than $500,000 then let's only play with $500,000 that's kind of so we need to ask more the question but the risk tolerance is there Johnny what age did your mom die she died at 79 how about your dad 68 how old are you 54 what did your dad die from such and such whose Health do you more have mom or dad probably Dad do you have an insurance policy in place no the way it looks like right now unless if you get your health better you look like you need to lose 40 50 pounds you need to get an insurance policy in place cuz you're the main bread winner if you don't XYZ is going to happen so here's a problem here's a solution here's what your options are if you want to take advantage or not if you don't this is what's going to happen I also think fear porn by itself is a problem without not given possibilities and solutions I think we need to do a little bit more solutions as well instead of just scaring the crap out of everybody all the time