Avoid this to get rich. What wealthy people do. Hey, have you been wondering, how do they have all the money? I don't have the money. I'm just as good looking as them. I'm just as tall as them, just as thin as them. How do they have all this money? Well, it's quite simply put because of what they're not doing that you may be doing. In this video, I'll share exactly with you what those things are, and we're starting right now. Hey, thanks so much for joining me on my channel. I really appreciate it, which is really your channel. This channel is designed to help you sell more, make more, and do more in life. Okay, so I've sold millions of dollars of both digital and physical products since 2009 online. And on this channel, I just share with you what those things are so that you can get good results too. I also want to give you a free course. It's below in the description. It's a $97 course, but I'm going to give it to you absolutely free. It's click and learn. If you haven't done so already, there's a subscribe button there. If it's red, oh my God, I need to change it. The only way you can change it is by clicking it and it'll turn gray. And then what will happen is a bell will magically appear and you need to ring the bell. If you ring the bell by turning on all notifications, you'll be notified every single time I do a video or I go live. Give me a thumbs up and don't forget to comment below about what you think real success is too. I want to hear your opinion about that. Now, let's look at this. Let's look at all the things that poor people do that rich people don't. The first thing is they fail to invest in themselves. You need to invest in yourselves, not other people's products all the time. This could be time. It could be money. It could be working out, exercising. It could be learning a new language. It could be watching interviews. We have access nowadays to interviews. Actual interviews with billionaires where you could sit down and you could go to YouTube right now with Bill Gates or Warren Buffett or Elon Musk or any number of these people who've already achieved things and they want to tell you what you need to do. You could actually go listen to it. But instead most of us go to YouTube and we watch just entertainment. Now, I'm guilty of entertainment. I have some entertainment but I also understand I need to pick up a Joe Rogan interview because he has some interesting people on there who have achieved some interesting things. And it kind of spirals when you go and listen to some of these interviews that people are doing, guys, it will lead you to other things. I remember a couple of months ago, two or three months ago, I was watching a Joe Rogan interview and he was interviewing a guy named David Goggins. I'm like, who's David Goggins? I don't even know who he is. And it turns out he's the toughest guy in the world. And I was so inspired by him. I got his book. I'm listening to his book now on audio. So when you dig into some of this stuff, people say, well, how did you find that guy? How did you find this restaurant? How did you find this? You got to look. The number one criteria for finding is looking. People don't look. They sit at home and wait for stuff to come to them. No good idea is going to walk up to your front door and ring your doorbell and go, look, I'm a good idea. Check me out. It's not going to happen. You're going to have to look for it. You've got to actually put forth that effort. Failing to invest in yourself is the first thing that poor people do. The next thing is your circle of influence. What and who is your circle of influence? You know, you need to go beyond where you were as a child. I think it's so interesting when people see somebody who's been really successful and they say, yeah, they got successful. They left all their old friends behind and they don't hang out with them anymore and they don't do stuff with them anymore. Those old friends had the opportunity to go along with that person and become successful. They did. They had that opportunity.  We'll shame on you, okay? If you're still hanging out with the same group of kids that you did in first and second grade, I don't think any of you probably did well unless you're all just super wealthy and every one of you just really exceeded, which is pretty rare. Normally what people say when somebody gets successful is that they left all their old friends behind and the reason they left their old friends behind is because they had to. Because those old friends had the same journey. They can still associate with them. They can still talk to them, but they can't spend the majority of the time with them because they're at a different level. And it's not because they got wealthy that they shunned those people. It's because they actually did more than those people and that got them wealthy, okay? So you've got to look at your circle of influence. Who is it that's influencing you? Are you hanging out at the bar and watching the game on Sundays? I promise you that is not the most successful group of people. I don't see Elon Musk in happy hour. I just don't see it. I don't see it happening. I don't think Warren Buffett is hanging out at a bar complaining about the economy. I just don't see it happening, okay? So if you're in that circle of influence, you've got to change it or your life won't change. Now some of you are going to tell me, well, JR, I live in a poor neighborhood. There are no good influences for me in this neighborhood. JR, I live in a poor country. Our country is extremely poor. There's no idea what it's like. Well, I'm here to tell you that in every bad neighborhood there are some good influences. You may have to look long and hard. Maybe you've got to go two streets over. Maybe you've got to go five streets over. Maybe you've got to get out of your neighborhood and go to the next neighborhood. But you can find some good influence. Same thing with a poor country. Even corrupt communist countries have some successful people in there and you've got to search them out and figure out what they're doing. You've got to listen to them. You've got to apply what they tell you. And that's another thing that's really frustrating is somebody who's been successful. I've sold some stuff online and I go through the same frustration. We tell people to do certain things. We tell them, hey, you're going to have to put forth this effort. You're going to have to work on this YouTube channel for a couple years before you see any results. And they just don't do it. They just let two years go by. And a lot of people say to JR, I spent six months studying how to sell products online. I don't want to waste that much time. No, you are going to waste time because you're not doing that. The waste of time is letting the six months go by and not doing anything. The waste of time is letting two years go by and you still don't have a YouTube channel. That's the waste of time. Not actually putting in the effort. Now, people will say, well, I don't mean it like that. What I mean is that, what if I spend two years and nothing happens? I just don't quit. You just keep doing it because I know that if I keep working on something, it'll do better. I started my YouTube channel five years ago. I did nothing with it. I did a few videos and I expected, like most people, hey, all of a sudden I'm going to get tons of views. I'll make a lot of money. It didn't happen because I didn't put enough effort into it. And then about seven months ago, eight months ago, I started working on it. I started doing better videos. I started having better content. I started doing it more consistently. I started doing it more often. I'm going to film 13 videos in a day. I'm going to spend the entire day just filming videos that I planned out for a week in advance. And that's a lot of work. But guess what? I'm getting more views now. I've got more subscribers. Hallelujah. What do you know? All of a sudden, you put in some effort and you get results. My wife has a YouTube channel. Check it out. Furry Family Coach Jessica L. Fisher. You got to check that out. We'll put it on the screen there. She's worked on that channel really hard and she helps people with dog training. And she has all kinds of great videos on there. And she's monetized. She makes money every single day because she puts forth the effort. Are you lacking that one thing? Are you lacking that effort thing? Who are you hanging out with? Who's influencing you today? Now, the next thing I want to talk about is education versus entertainment. All of our lives are comprised of education and entertainment. We have both of those things in our lives, okay? They're there. Entertainment's always there. Education's always there. But picking and choosing between those two are going to determine if you're going to be successful or not. Poor people tend to pick entertainment over education more often than rich people. Rich people pick education over entertainment more often than do poor people. So, how do you do this? You know, what's the difference in these things? Well, you know, most individuals will say, well, when I graduate high school, I finished my education. I actually had people say that. I went through high school. I finished my education. You know, and I got to say when I was a kid, I probably thought that way. But I've learned over the years that that's just not the case. You know, when you finish it, never. When you die, that's when you finish your education. Some people say, well, I went through college, though, J.R. You don't understand. I became a physician and, you know, I finished my education. You know, you probably did. You probably have ongoing training. I know a physician, a cardiac guy and, you know, his cardiac surgeon. And he not only did that, but he started coaching other doctors and he's making more money on that because he studied that. So, even at that level, he didn't quit his education. You should never quit your education. You should always learn something new as long as you're alive. Now, here's the cool thing. The more education you get, the more opportunities will be presented to you. The more you know, the more opportunities will be presented to you. What are they and where are they coming from? I don't know. They just kind of show up. They just kind of show up. When you learn different things, you will have opportunities that the average person does not. The average person doesn't do much. And here's the cool thing I want to share with you. It's really easy to get ahead because there's average people. And how many people are average? The majority. The majority of people are average or below average. The majority of people will not invest their time in exercise. The majority of people will not invest their time in watching interviews with successful people. They just won't do it. They won't do it. So, if you do that, even if you do that some, not all the time, but if you do it some, you're going to get ahead of those people. Just because you're doing something the average person doesn't do. And who wants to be average anyhow? Who wants to be just the middle of the crowd that nobody even notices? Who wants to be that person? I know you don't. Here's the interesting thing too, I think.   Most people will go out to a movie and spend $15, $20 for a movie ticket. But they wouldn't spend $20 for a course online. It's crazy, right? One of them is going to be, you know, for an hour and a half, maybe two hours. Two hour ones I don't like. I get sleepy. But for an hour and a half or two hours they're going to watch a movie and get some entertainment and then it's gone forever. If you spend $20 on a course and you learn something new you can apply it for the rest of your life. Which one is a better investment? Which one do you think is a better investment? Most people will say, well, if you tell me how to do stuff and you don't charge me, then maybe I'll do it. No, you're a whole lot less likely to do it if I don't charge you. If I charge you for a course and you pay me for something, the more you pay me, the higher that amount that I charge you, the more likely you are to do something with it. Because you made an investment. I spent $100 on JR's course. I spent $1,000 on his training. I'm going to do something with it because I spent $1,000. If I give you a course, I've given courses to people. They don't even open them. They don't even look at them. They don't even watch the videos. Now, I am going to give you a course to get you started after I said all that. But the point is if you invest in yourself, if you invest in training, you're more likely to get something out of it. If you invest in entertainment, that's all you got. It's a moment of entertainment and nothing else in the future. So, it's really important that you invest in training. Spend some money on training. I know you can watch my videos for free, but I've got some stuff you can buy, too.  But if you want to use the free stuff, that's fine, too. We only need a small percentage of people to buy my stuff for me and I hope you understand the difference in that rich person, that poor person and what they're doing and how they spend their time and how they look at things. If you change your view towards these things, guys, you will get different results.  Take this advice. Apply it for a year or two. See what happens. Come back and see me. Or put your comments below right now. Let me know what you thought of this video. Let me know what you thought of these ideas that I've given you here. If you haven't subscribed, the button below, look at it. Go ahead. It's still red. You've got to change it. The only way you're going to change it is click it. And as soon as you click it, it turns gray. And then, magically, a bell appears. And you want to do this to the bell. You want to ring the bell. You want to turn on all notifications. Give me a thumbs up. If you turn on all notifications, you become part of the Fisher Family, the VIP group that gets notified every single time I do one of these videos. It's pretty awesome stuff, right? You can actually talk to me when I go live and turn on all notifications. Thank you so much for watching this video, and I'll see you in the next one.


Ac felly rydyn ni'n byw'r un ar ddiwedd yn gweithio'n glas o'r ffordd. Felly Mae'r Gwreng Pwg Assylfaenau yn gweithio o'i ddweud o gynnig $300b o ddaf yn cyflwyno 450b o'r bwysig oedd y peth yn gweithio'r gwaith. A'i gweithio'r gweithio'r gweithio'n gweithio'r gwaith oherwydd yn gweithio'r gweithio'r gweithio'r gweithio'r gweithio. The Chinese government is facing the same kind of dilemmas that the U.S government and the European governments faced about 13 years ago. How they respond to this, whether they decide to bail out Evergrande or even nationalise, will reveal the real nature of the current regime. What is Evergrande and why that is happening? China's boom, at least for the last 12 or so years of it, has been fuelled to a very large extent by a property boom, or property speculation, which makes up a massive 30% of Chinese GDP by now. Many, many property developers, most of them probably, of which Evergrande is the largest, borrowed unsustainable amounts in order to participate in this speculative boom in an attempt to get ahead of their peers to out-compete each other to grow as quickly as possible. They borrowed and borrowed and borrowed, and now, of course, the consequences are here. In fact, Evergrande and I think some other companies, and this is a widespread practice, started borrowing even from their own employees in an attempt to gain more capital more quickly. One particular model that they have, which demonstrates the feverish, short-sighted character of this boom is the so-called 3691 model, which refers to the need to start developments within three months of the plans being drawn up, to start off-plan sales within six months, so to start sales of the properties before they've even been finished, and to finish construction within nine months, and then return the money with interest to the banks within a year, hence 3691. And it's no surprise that many companies are going bust, because you can see with that kind of turnaround, it's not really going to be sustainable, and the reason for that, the reason for the need to turn around so quickly is because of the huge amounts of debt they have taken up. I've been told to speak more loudly, but I think I'm going to start having to actually shout, which is going to be a bit awkward. So, yeah, the entire industry was borrowing unsustainable amounts of money. On the assumption that house prices, property prices, would just perpetually go up, which of course sounds very familiar to many of us. The industry's total debt is thought to be, according to Goldman Sachs, around $2.8 trillion, or 18% of Chinese GDP, for one industry, which is a huge amount. But of course, if anything should burst that bubble, in other words, if anything should cause property prices to stop rising, then the entire model would collapse, and that is what appears to be happening. The debt load would sink all of these firms, basically, which is what is happening to Evergrande. It is, by the way, one of the biggest property developers in the world. It is the second biggest in China, and it has total liabilities, in other words, it owes, in total, 3% of Chinese GDP in one company. That's how much it owes. It is the most indebted property developer in the world, and therefore it's collapsed, threatens the world's second biggest economy, and therefore, by extension, the world economy. But why is it collapsing specifically? Well, the Chinese government has sparked this crisis in reality because it's placed obstacles on borrowing, essentially. It started to create what are called three red lines, essentially, to taking on more debt, making it harder and harder to borrow more money. And therefore, of course, their whole business model is going out the window, and they need to borrow money to pay off the previous debts that they have. And so what they're attempting to do, the Chinese government, is essentially to have a kind of controlled explosion of this bubble, to let it down calmly before it gets too big and threatens the entire economy. However, it's not clear that that isn't already the case and that their attempt to do so is already spiralling out of control. For example, Fantasia Holdings, which is another property developer, has just developed, that just defaulted on its debt. Modern Land, a couple of weeks ago, another developer asked for an extension on its repayments. And Cynic, and not spelled like a C-Y, spelled S-I-N-I-C. And also Fujian Fusheng, two other properties developers, have also defaulted. So it appears to be widespread. Home sales by value fell in the year to September by 17%, and in the year to August by 19.7%. And in some cases, what we're seeing is stricken property developers like Evergrande selling off their flats with massive discounts of 30 or more per cent because they're desperate to get access to cash. They've got to pay off these debts. They can no longer borrow more money to do so because of the Chinese government regulations. And so they're just flogging off their flats at below value in order to gain access very quickly to cash with which to pay off their debts. And of course the effects of that will be to crash the property market because of all of these companies doing that kind of thing, property prices will go down and that will further cause a crisis in the property sector of the economy. And of course this cannot fail to have massive implications for the rest of the economy. As I said, it's 30% of GDP in itself that is vast. But they're all enmeshed with each other. Evergrande is not only actually a property developer, it also has a car manufacturing business. And of course many Chinese companies that aren't property developers will own little bits of Evergrande and other companies, all have lent them money. So it is a problem for the entire economy. That's the nature of capitalism in every country these days. There aren't really private companies that are just sealed off and owned by a couple of people. They all own little bits of each other and are all mutually interdependent. So its crisis will lead to a crisis in the entire economy. But why has property been such an important driver of the Chinese economy for the past 12 or more years? Given that you'd have seen that it was property and the crash of the property sector which sparked the 2008 financial crisis you'd think it's kind of a bit of a mistake to repeat that policy. Well if we go back to 2008 it actually briefly went into recession. I remember at the time that millions and millions of workers were being laid off and it looked like a serious, basically part of the world crisis and it was going to have massive repercussions for China. But in only a few weeks the economy started growing again and workers started being hired. Why was that? It was because of the fiscal stimulus that the government launched in 2008 which is possibly the biggest in history or certainly one of the biggest in history. It was about $586 billion of stimulus that the Chinese state pumped into the economy at that time in an effort to keep things going and it did work in a sense. And not only did it pull China out of recession but it actually arguably stopped the world economy going into an outright depression at that time which is what it looked like it was going to do because the growth of the Chinese property sector in particular that was a product of this led to a boom in raw materials and in capital goods so countries like Germany and Australia in particular but many many countries throughout the world benefited from this, countries that were selling things to China basically. But the key thing is that because China was by now a capitalist economy this was not done by means of a plan of production but by means of debt basically a massive explosion of debt. And if China's companies were in 2008 holding back investment and laying off workers as I mentioned that they were briefly there was a good reason for it it wasn't just a result of a sort of irrational, silly fear that some government money would dissuade them of and then everything would be okay again. There were far deeper reasons for this and that's because in the middle of a world financial crisis one of the biggest in history there's obviously a limit to how many Chinese made things you know cars, smartphones, clothes, etc. There's a limit to how many of those things the world market can absorb because of the crisis and workers being laid off all over the world. And that doesn't go away just because the Chinese government starts lending a lot of money the limited demand of the world economy of course remained and therefore if in its desperation the Chinese state starts lending a lot of money starts basically drowning companies in cheap credit which is what they did these companies will in general tend not to spend it on productive investments in other words on building new factories and taking on more workers for productive things instead they would tend to spend it speculatively and that usually means and it did mean in China on a housing speculation So what happened is that all kinds of companies including importantly state-owned enterprises a lot of the Chinese economy remains state-owned about 40% of it but these state-owned companies do not work to a plan of production to meet social needs they work fundamentally to make profit operate like private capitalist companies and so many of these companies including them if you look into it they started up their own shadow banks at the time semi-legal banks basically which they were taking on all of this money from the Chinese banks that the state controlled and they were encouraged to lend it to spend it but what they actually did is they set up their own shadow banks and lent it themselves in a lot of cases to property developers to get in on the action of the housing market because it was thought those prices would keep on going up and actually these financial arms of these companies were frequently more profitable than their core business as Marx explains, credit allows capital to go beyond its natural limits in other words to extend the period of boom and delay the crisis but it means that the crisis will still come on a higher level because those loans have to be paid back with interest and of course it generalises that crisis as well the nature of finance and that is generally what has happened in China as more debt has been issued it becomes less effective for example it now is thought to take around about four dollars of debt to produce an extra dollar of growth in the Chinese economy whereas before the stimulus it was thought to take about one dollar and forty cents to produce an extra dollar of growth the main reason for this is because a lot of the new debt that is taken on is simply to pay off old debts that have proved unviable essentially in other words a lot of money has been spent on what have ended up being ghost towns empty apartment blocks just the other day in Yunan province in the south they demolished about 15 apartment blocks they were just empty and there was no real demand for them in other words there has been a lot of feverish economic activity which yes does increase employment and spending and it does increase the GDP figures but actually it is not profitable it is not sustainable and of course then those debts need to be repaid but there haven't been any profits with which to repay those debts and what essentially has been happening is that instead of defaulting then and going bankrupt a lot of people a lot of firms have been then borrowing more money in order to pay off those previously unsustainable debts therefore what this has been doing is just delaying the crisis and extending it and it means that there is an avalanche of bad debt waiting to be defaulted upon before 2008 before 2008 I think Chinese debt, total Chinese debt all of these figures are somewhat approximate and a lot of them you know there is a lot of hidden debt but it is thought that before 2008 all of the debt in China was equivalent to about 160% of GDP by 2016 that was the most recent figure I could find there was 260% of GDP by the way back in the 70s before China returned to capitalism it was 0% a deficit so it is kind of an index of how developed capitalism has become in China and how developed the contradictions of capitalism have become with the total amount of debt just keeps on going up and up and up just as in the west in fact and again I emphasise it is important to understand that this stimulus was delivered by these methods that were guaranteed to produce a housing bubble it did it by means of debt because it is not a planned economy anymore so you can't just say if you are not a planned economy if you are a capitalist economy you can't just say we have these amount of resources this amount of workers therefore we can produce this amount of stuff to meet need and that is what we are going to do you can't do that because you don't own the economy the economy is in private hands and those sections of it which are not in private hands still operate largely according to profit so you cannot make them do what you want to do and therefore you have to stimulate by means of debt and hope that that will lead to productive activity but in this case it by and large it hasn't now the fact that Evergrande could only grow by taking on more and more debt obviously and is now in crisis because they are not allowed to do so shows it was inherently unsustainable and in that respect it is like a microcosm in Chinese capitalism as a whole which again has only been able to grow by taking on more and more debt now what is going to happen we have explained what has been taking place but the real key question is going forward what is likely to take place as far as I can see there is no evidence of a plan to bail out Evergrande whether that may still happen however it is unclear if it even can really be rescued first of all to do so would be to create what they call moral hazard in other words it would incentivise other companies to just continue taking on more and more debt and making reckless investments because they would know if we borrow more money we will get bigger and therefore we will out compete our rivals we will capture more market share and yet it might lead to crisis further on but it is fine because the Chinese state will just rescue us because by then will be a huge company it will be too big to fail essentially that is the thinking that is what they call it moral hazard runaway debt would actually accelerate probably even more quickly than it is now so they don't really want to do it for that reason to bail it out would also be phenomenally complex Evergrande has about 1.6 million properties that have been sold but they are not finished they are in the process of being built the people who have bought them and they need them to be finished and if they are not finished once again that will lead to a massive collapse in the property market but if you are going to bail them out and if you are even going to nationalise them then you have to figure out how to finish those properties they are spread out throughout China throughout about a thousand different local governments it would be phenomenally complex to organise and plan for those properties to be finished and to figure out exactly how that is going to happen and again there is no evidence of any plans being made for this furthermore there is a political dimension to this as well Xi Jinping is pursuing this policy which I will come on to explain more in a moment for political reasons there is very good reasons for why he is doing this and he is attempting as I think you probably know he is attempting to present himself as basically a friend of the common people who are these greedy reckless capitalists who are threatening the economy, who are corrupt etc and he has really he has staked his political fortunes on this and so then to bail them out to bail out this reckless greedy company by the way their owner is the notorious figure he is kind of a poster boy for like anti you know anti greed essentially he was known as belt brother because at one point he turned up a Chinese communist event with an incredibly expensive belt which he was showing off he became a kind of figure of hatred in society for that reason so to then just bail them out of course would obviously massively undermine the attempt to cut these people down to size essentially and to show them that there are consequences to their actions and also it is just putting off the evil day it is just delaying the crisis isn't it and everyone knows that that is and we've seen that in the west we've seen the consequences of bailing out banks or even whole countries in the EU it doesn't solve any problems the debt problem in the west in Europe, in Greece, in Italy is as bad as it was if not worse none of this has really been paid off despite the years of austerity and all of the bailouts that have happened nothing's been solved and in the next financial crisis we'll have all the old problems re-emerging and the question of the break up of the EU the collapse of the Greek economy the Italian economy they will all re-emerge, nothing has been solved and in the process they have succeeded in creating a stagnant economy what they call zombie capitalism because all these firms that are unsustainable that should be going bust because of the liquidity that's been pumped into the economy by the central banks and the quantitative easing that we've seen over the past 10 years these firms that should have gone bust that are unproductive they've been kept alive because they get cheap credit basically and that has created a stagnant economy a low productivity economy which is a big problem for capitalism that is China's future if they go down that path and I'm sure the regime knows it on the other hand to do nothing would crash the economy probably it would lead to a massive collapse in the housing market and as I've explained the rise of that and the indebtedness and the links to the rest of the economy I think it would inevitably lead to a massive recession which has also has massive and serious consequences for the regime so the regime is kind of damned if it does and damned if it doesn't which of course is what happens with capitalist crises this crisis reveals the limits to the capitalist system and the end of the period of break net growth and seeming stability for the Chinese regime now there are many supporters on the left well maybe many is an exaggeration there are some supporters on the left throughout the world of the regime who basically say that the regime has a decades long plan to use capitalism or bits of capitalism to build up the economy and to lay the basis for socialism because of course you need, referring to Marx's theory that seems to be credible right, Marx said you need to have capitalism first before you have socialism you need to develop an urban economy a large proletariat and so that's what they've been doing and Xi Jinping with his turn to the left and his concentration of power in his hands he is the one who is going to return China to the planned economy and in fact there was even a blog post that was highlighted by the official media in China recently that was sort of hinting that this was happening and the fact that the state media promoted this blog post and shared it shows that they wanted to encourage that view now if this were correct and Xi Jinping were a communist surely this crisis that is taking place now would represent the perfect time to nationalise key sections of the economy not least Evergrande it would be the culminating point of decades of capitalist growth which have succeeded in creating a very very big working class the largest in the world easily an urban economy quite an advanced economy in certain respects one of the most advanced economies in the world it would be all of the basis for socialism surely has been laid by now and now we have a crisis of these greedy companies who are deeply unpopular in large layers of the population and Xi Jinping has concentrated unprecedented power in his hands it would be the perfect opportunity for him to come in expropriate Evergrande expropriate other similar companies and say we're moving back to socialism essentially but there's no evidence of this at all there's no suggestion that that is what's going to happen and in fact we look at the energy crisis that's also been afflicting China recently we can see the opposite movement so there have been some blackouts in parts of China in recent weeks because the price of coal has gone up so high for various reasons I won't go into because the price of coal has gone up so high there have been blackouts because the energy companies which operate according to profit they have a cap on how by law there's a cap on how much they can charge consumers so that working class Chinese people can afford to pay their bills but because of those price caps and the very high price of coal that they have to pay for to power their power stations a lot of them just switched their power stations off didn't buy any more coal and just switched them off rather than make a loss because they operate according to profit so what has the regime done has the regime stepped in and said that's outrageous Chinese working class people they need energy you're profiteering, we're going to nationalise you have they done that? No, in fact the plan is to liberalise the energy industry in China to remove those price caps so that working class Chinese people will pay more for their energy and profits can be made again and we won't see any more blackouts that is the plan so there's no evidence of this move towards socialism essentially now to what extent will this crisis should it fully unfold affect the rest of the world economy well I think there's no doubt it will be it will have a massive effect China's corporate debt is 31% of all corporate debt in the world which is the biggest proportion of world corporate debt which not only shows how much of a big chunk of the world economy China now represents but also shows how indebted the Chinese economy is if they make up such a vast proportion of corporate debt a credit crunch in China would have massive ramifications throughout the world now some say that this won't happen or at least it won't happen in a particularly bad fashion because of decoupling in other words in the recent period there's been a lot of protectionist measures think of trumps trade wars with China the attacks on Huawei blocking Huawei from installing 5G gear in most western economies these kinds of things these tariffs etc have kind of separated off China from the rest of the economy or at least from America and Europe so a crisis in China won't affect America or Europe that much is the thinking well those developments are very true and they're very important it is profoundly important that there's a rise in protectionism that has huge consequences for the world economy not good consequences by the way it's a sign of how unhealthy capitalism is that that is happening and it tends to drag down GDP globally in fact a reduction in trade however it shouldn't be overstated I think it's impossible to decouple China from the world economy it's far too important now it's far too deeply enmeshed in the world economy it's the it's share of global trade 13.6% is the highest in the world it represented 28% of all global growth between 2013 and 2018 double that of the US so you know it's far too important economy for that to happen in a significant enough way anyway and in fact earlier this year in the summer there was a survey by the European Chamber of Commerce of European companies European businesses that found that 60% of them plan to increase their investments into China up from 51% in 2020 the main reason being is more profitable to be in China and China seems to have recovered from the pandemic more than other countries essentially so you had to be there if you want to make money I think some of that won't materialise because of the crisis and because of the ongoing protectionist measures against China etc so I'm not saying this increased investment will necessarily take place but the fact that that was thought to be the case only a few months ago shows how key, how vital China is for the health of world capitalism how much of a chunk of the profits that world capitalism makes take place in China and therefore again a crisis in China will have enormous ramifications decades of growth in the Chinese economy on a capitalist basis yes they have raised living standards there's absolutely no doubt about that they've also massively raised inequality in fact China was one of the most equal societies in the world back in the 70s it is now thought to be one of the most unequal societies in the world in fact it has a higher Gini coefficient which is a measure of inequality than the USA and Britain it has about as many billionaires as the United States and it's the equivalent of its parliament the national people's congress the top 20 members of it in other words the equivalent of MPs the top 20 richest MPs effectively in China are worth 534 billion dollars far, far richer than the equivalent in the US or in Britain over the last year the Huron rich list the list of the richest Chinese people the wealth of the people on that increased by 24% it is becoming an ever more despite Xi Jinping's seeming shift to the left it's becoming more and more unequal society so it's no surprise that these thoughts dominate they really dog every sort of the regime which is obsessed with this question of inequality now in January Xi Jinping declared he said the following we cannot allow the gap between the rich and the poor to continue growing we cannot permit the wealth gap to become an unbridgeable guff comments like these have given him help to give him something of this reputation for being a communist I should say that it's not exactly the most radical of statements we shouldn't allow the gap to keep on growing we shouldn't allow it to become too bad essentially is what he's saying it's not really a sign it's not really a Leninist call to arms to be honest it's just a sign that they're very concerned about the effects on stability that this will have on Chinese society and therefore for their regime essentially and this has led to a big rise I think in class consciousness though of course there's no easy way to measure that although the website China Labour bulletin does try to measure the rate of strikes strike rates in China seem to go up all the time but there does seem to be a profound alienation amongst Chinese people certainly young Chinese people quite similar to what we see in the west I mean this growth that's been taking place over the last 12 years for example thanks to the fiscal stimulus as I mentioned yes it has given out jobs obviously it has also raised the cost of living some big Chinese cities are some of the most expensive cities to live in in the world and that has created a profound alienation amongst young Chinese people then if you're aware of this phenomenon of lying flat which spread throughout on the internet amongst young Chinese people basically an idea of a kind of an expression of hopelessness essentially that rejection of the system but the inability to organise in any way to fight back because of the nature of the regime so you have this idea of lying flat giving up they see everything as a rat race this horrible kind of rat race to succeed and it's exhausting so there's many indications of this but the biggest indication of it is the response of the regime itself there is sort of and I will come on to this in a moment it is presenting itself to the left and it's clearly deeply worried about inequality and that shows they know what's going on they study what's going on very very closely that there is an enormous amount of discontent and class consciousness is increased not just by inequality but by the increase in inequality the rate of that increase in China as compared to any other country pretty much is staggering and there is a perception in China that this is a communist country and that our communism has been betrayed essentially we have fake communists in charge and the rich have gotten rich by foul means by means of corruption and it's not just kind of natural they've been good at their jobs kind of thing which some people of course in the west do believe but there is this idea that this is inherently corrupt all of this obscene wealth that we have I also think I won't go out of time to go into these questions but I also think that the inequality and the discontent that they are worried about is partly behind the tensions with Taiwan and the other kind of you know it's an enormous amount of fear of China basically in the west and the press is obsessed with China to be honest and what it's doing in all these countries and it's military exploits it's building islands in the South China Sea flexing its muscles and in particular over Taiwan with all of these I don't know if you're aware but flying planes over Taiwan trying to intimidate the government is what we hear about in the west it's hyped up but the way it's described is purely that China is a bully and China thinks it can get what it wants I think the more important factor is the need to increase national chauvinism as a distraction from the problems at home they're aware of what's going on they're aware of the problems in the economy how could they not be and they're trying to hype up nationalism and the idea that we're on a sort of long crusade against the west who've held us down and this is our mission you can't give up now kind of thing that's the kind of story that they're trying to create they're trying to sell to the Chinese people and I think that's a big part of the reason for these tensions in particular with Taiwan but on this question of the regime itself and the nature of it and what it's doing why it's sort of seeming to make all these southern left statements or attacking the rich and what does it mean I think it's an attempt to maneuver in advance of an outbreak of class struggle of strikes of mass protests and to establish the idea that this regime is on the side of the ordinary Chinese people to cement an advance of such a movement that we are opposed to the rich and we're prepared to take action against the rich that is what they're trying to establish in the minds of working class Chinese people I should also say that whilst here we hear about all of these things in a kind of slightly scandalous fashion the attack on Jack Ma for example and this sort of all sounds quite dramatic at the same time for every attack like this there is a corresponding reassurance to the bourgeoisie within China that isn't really reported over here for example on the September the 6th Liu Hei, the Deputy Prime Minister tried to reassure private business people and I quote saying that he said their endeavours were critical to the country's economy shortly after the slogan of common prosperity was launched that is the main kind of policy at the moment of Xi Jinping, the idea that we need to build a society that is not too unequal so we need common prosperity but shortly after that was announced the party took the time to reassure the capitalist class that common prosperity will not be achieved and I quote by robbing the rich that's their words we will not rob the rich in order to build common prosperity so they are attempting to say they are attempting to please two classes essentially is what they are trying to do and what this demonstrates is the nature of this regime which is to say that it is a Bonaparteist regime it's a regime which balances between the classes essentially it is not controlled by the capitalist class like the regimes of the West are or even that has begun to fray in recent years but they are not really controlled by the capitalist class but they do defend capitalism and in fact many of them are themselves very rich they are capitalists themselves but the Chinese state operators have a great degree of independence over individual capitalists and that's because of the way capitalism was introduced into China it was introduced by the state the state nurtured and developed capitalism the Chinese capitalist owe their existence to the Chinese state which has gradually built up into becoming the relatively rich and powerful class that it is today and that goes back to the nature of Stalinism itself which Trotsky explained that the bureaucracy of a Stalinist regime is not a feature of socialism but is a threat to it because at the end of the day they are interested in their power and their privileges and are mentally interested in and therefore if they are surrounded on a world stage by more rich more powerful more technologically advanced countries like the United States or Japan this would always be a temptation for them maybe we can establish similar property rights over here and become rich ourselves or maybe we can just open up the economy a little bit to their investment gain access to their technology and yes of course get a bit rich in the process and make our society more advanced essentially that is or was what their thinking was and they thought that they could control the process I don't think that they necessarily intended to create a full fledged capitalist economy I don't think it was necessarily with that degree of foresight what they wanted was the investment and the technology and they thought that they could control and master that process but this seemingly all powerful regime is discovering that actually there is something more powerful still and that is the contradictions of the capitalist economy that if you develop capitalism capitalism becomes the predominant mode of production in your economy you cannot avoid the crisis of capitalism you know if you accept capitalism you have to accept the laws of capitalism now the regime is obsessed with stability that is well known that is their watchword stability stability stability and you can see many signs of them attempting to maneuver in advance as I've explained the recent shift to the left in words at least and in policy to some extent is an attempt to do that there's many other signs of it in 2015 de Tocqueville's The Old Regime and the Revolution the famous account of the French Revolution and why it happened basically was made required reading for all high-ranking party members what does that mean why was that made required reading because they are anticipating revolutionary crisis within Chinese society and they want to prepare for it or they want to prevent it from happening even with the right kind of policies last year Xi Jinping also specifically cited Thomas Piketty's Capital in the 21st century as a warning to the consequences of excessive inequality and they've looked at the experience of the west over the past 10 years and the rise in populism the polarisation of politics the massive discontent and they've drawn the conclusion that that's due to the economic crisis it's due to inequality and therefore that's a warning sign for us and we need to move now to correct those things from getting out of control so that we don't get overthrown ourselves that is essentially what is going on but as I said if you accept capitalism to accept the laws of capitalism there's no magical recipe by means of which you can maintain permanent stability and economic growth under capitalism not least because you're in a world economy so there's only so much you can even control economically speaking anyway there is a limit to how much you can do and yes you can keep the ball rolling for a while with a fiscal stimulus but then that will only build up more problems for the future you cannot maintain stability under capitalism forever and you cannot cancel the class struggle the class struggle will always reassert itself because capitalism is based upon the exploitation of the working class so they're walking a tightrope and they won't be able to maintain balance forever the crisis of capitalism will catch up with the regime in fact I would argue it probably already has caught up with it and that crisis when it fully blows up will transform China and of course the world not just for the past 12 years since the financial crisis but actually for the past 30 years the world market has depended upon China I think that a world crisis of capitalism was delayed because of the entry of China into the world economy it gave it another lease of life the cheap labour that could be exploited and then the growing market that things could also be sold to that has given capitalism a big shot in the arm and kept it going at least until 2008 and then of course that crisis as I said was limited by thanks to the intervention of the Chinese state with the fiscal stimulus but I think that's used up now and the main point of the future is not going to be like the past China's not going to have another 30 years like this and neither will world capitalism and it's just another sign that we are entering into an era of turbulence and class struggle


This study investigated the association of certain risk factors with the grade of bladder cancer. It was found that opium use was strongly linked to high-grade bladder cancer, while cigarette smoking was only weekly associated with the same outcome. Additionally, older age was also found to be a significant factor for high-grade bladder cancer. This article was authored by Sharyar Zayami, Entegam Azizata, Hamid Reza Tabatibi, and others.


Early in fall count one of the big things is to get our kids fundamentally sound. Understanding what techniques they have to play and to get them played in a high energy. We've taken a lot of pride in the last three years about getting better every year. We feel good about where we're at and we're building depth on defense. That's the most important thing. And this team is really focused on getting the first one. Let's get bluefield and we'll worry about the next one after that. We got our boys. We know what we got and with some of these guys coming from a high school you got a lot to learn. The game is a lot faster. The speed is such a big difference. We're grinding every day. We're working hard and come out and support us.


Okay. So unreasonable rent. So you cannot take a rental deduction for unreasonable rents. Ordinarily, the issue of reasonableness arises only if you and the lease are related. So if you have a market transaction, which we might call like an arm's length transaction, two people that have opposing interests in the transaction, usually the person that's renting the property wants to have as low a rent as possible. And the person that is the rentor wants to sell it or rent it, you know, for as high as possible. But if you have related parties, then everything goes out the window because if a father is renting to a son or something like that, they can start to manipulate or try to manipulate between the payments in order to maximize, say, tax benefits or something like that. So whenever you have a related party transaction, you get into these rules of, well, these types of transactions need to be reasonable, whatever that is, which, you know, what it would be for, for a market transaction. It's hard to tell because it's not a market transaction because you have related people in it. But rent paid to a related person is reasonable. If it is the same amount, you would pay to a stranger for use of the same property. Rent is not unreasonable just because it is figured as a percentage of gross receipts. Related persons include members of your immediate family, including siblings, either whole or half, your spouse, ancestors, and lineal descendants for a list of the other related persons. See section 267 of the internal revenue code, rent on your home. If you rent your home and use part of it as your place of business, you may be able to deduct the rent you pay for that part. So if you, so this is the home kind of issues. You can't, when you're talking about your home, if you own the home, if it's a house you own, then you may be able to get the interest deduction, which is a big deduction and property taxes on the schedule A. And we talked, and so that's a whole nother kind of thing. Those deductions lead people to kind of be confused about the nature of normal deductions for an income tax system because you would think in an income tax system, the deductions that would be applicable that you can take are those that you needed in order to generate revenue. So if it's a personal deduction, you would think normally they wouldn't be deductible, unless there's some other rationale for the law to do that. In this case though, you're saying if you use the home for your business, then you might either rent the home or own the home. If you own the home, then you have interest that you're paying and you have the property taxes, which you might be able to allocate to your business, part of them and part of them, to schedule A. So then you've got the splitting thing. And then if you rent the home, then you might be able to get a benefit from the rent, from part of the rent, which could be huge, of course. And that would be coming to the business use of the home. So you must meet the requirements for business use of the home. So it's a whole other topic in and of itself that you can dive into for the business use of the home. But the general idea is that you have to have some part that's going to be laid out for your particular business and possibly you can use a ratio type of analysis of the square foot of your business part versus everything else. And you can't just have some non-business place that you do some business in. It's got to be usually strictly related to business. So if you do some work sometimes on your laptop in bed, you can't deduct the square footage of your bed ratio rent deduction because presumably you do personal stuff like sleep in there too, which isn't business related. So for more information on that, you can see business use of your home later. Okay, rent paid in advance. And now we're getting some funny business on the rent because note that you might be on an accrual system or you might be on a cash based system. If you're on a cash based system, then normally you take the deduction when the cash is paid. But you can start to manipulate a cash based system by saying, Hey, look, if I think I made more money this year than next year, I'm going to make a deal with my landlord that I have that I pay my business rent to for my office building and say, look, I want to pay you all of my rent for the next three years on December 31st so I can deduct it all this year because my income was substantially higher this year for whatever reason. And that will be more beneficial for tax purposes. But the IRS is going to frown upon that kind of activity and try to put some rules in place against that. So generally rent paid in your business is deductible in the year you paid or accrued. So if you aren't accrual basis, that would mean that you pay the rent when you actually used the business office. So if you pay rent in advance, you can deduct only the amount that applies to your use of the rented property during the tax year. So there they're putting their foot down on that one. So you can deduct the rest of your payment only over the period to which it applies. So for more information, you can take about rent. You can see Chapter 3 of Pub 535. You can find it on the IRS website, irs.gov, irs.gov.


ThinkTek Hawaii, civil engagement lives here. Hi. Welcome to Seymour's World on ThinkTek Hawaii. I know it's been a long time. I've been away for almost six weeks. But I have to tell you, I really appreciate all those emails and texts and phone calls I get from our audience that say, where have you been? Are you OK? And all that stuff. As you can see, I'm fine. I spent the last three and a half weeks in Italy with our family. I went to actually do some work in Italy. Mr. IRS, are you listening? But I did visit a factory that absolutely is amazing. They are developing a weave in their material in clothing that is infrared. And the infrared is to help any type of trauma that you receive from your muscles. It's fascinating. And those of you who know me well know that I will always be looking for new things to do. And this is a product that we saw in Italy. We're bringing it to China at the end of October to get a production and manufacturing facility there. And then we're going to do a worldwide marketing effort. So those of you who exercise a lot, you're going to be seeing a new line. It's called ACAPI, you can look at it online, but it's not available anywhere except in Italy, but will be available shortly. So let me introduce my guest to you. As you know, after being in Italy, you could probably tell I've gained a pound or two because lots of pasta and lots of great food. And I am a foodie. I love to eat, and I love to eat well. But I'm learning to eat healthier. And one of the people who I think has really influenced me in the last few months, because I've gotten to know him well, is our guest, Lauren. Lauren, welcome to Seymour's World. Thanks for having me on. Lauren Shoup is an entrepreneur, probably the ultimate of entrepreneurs. Because when I went to visit you the first time and I went to see your factory and I went to see your business, I've never seen anybody who had so many fingers and so many pies doing so many things. And I said to you at that time, how can you do it all? And then my wife reminded me when I came home, she said, you're just like him. You're doing so many things all the time. And Lauren, I admire you for doing that because it's not easy.  So it is really, really amazing. So let's tell the audience a little bit about who you are, where you came from. Well, again, my name is Lauren Shoup. I was born and raised over on the big island of Hawaii. I was there, I finished high school there. And then I decided to go up to the mainland for a few years. So I spent like three years up in San Diego. But I just didn't feel right, you know, again, I was born and raised in Hawaii. My family's like fishing, so I was like fishing, doing a lot of like outdoors activities. And I played a lot of baseball and sports. But when I got to San Diego, it just sounds kind of weird. But it was the first time I ever had jeans. You know, I had to wear jeans because it was cold. No shorts. Yeah, yeah, yeah. So that was all news to me. So that was a little different. And the plan was to go to school, but I ended up actually not going to school up there. I just really wanted to get out and like, you know, the entrepreneurial spirit. I just really wanted to get out, do my own thing. And I didn't know what I was going to do. But I just, I was like, you know, at the time, the school is not for me. I just want to get out and do something. And so anyways, you know, I just, I spent three years in San Diego and I decided like, well, if I really do want to do something, this isn't the place for me. So I got to go, you know, where do I want to go? So I ended up coming back to Oahu. So I've been here for seven years now. And yeah, it's been rocking ever since. You've done fantastic.  Yes, they're doing right, because obviously you're doing something right to be in business today and what you were doing wrong. And I couldn't find very much that you were doing. That's good. You are really taking a whole new product and bringing it to the marketplace where big, huge companies aren't able to do it. So I want to talk about breadfruit. Yes. Now, people don't know what breadfruit are. Maybe you could show people what it is. Yeah. So we got this guy here. It's a breadfruit here in Hawaii. We call it Ulu, but all over the world, they have different names for it. And there's just hundreds of different varieties. This guy here looks like it's a young mafalo variety. Could be a little mixture. It's hard to tell these days because everything's gotten really mixed up with, you know, jeans and whatnot. But I believe this is close to mafalo, maybe mixed with something else. But this is breadfruit. So the whole thing is edible. You can eat it at all stages. This is a little underripe, so I would like it to be more ripe for our products like the chips and their ulu hummus. But this has grown all over the world, like all around the tropics, like South Pacific, obviously here in Hawaii, they have Jamaica, Puerto Rico. And the thing is a lot of these places are already eating it in vast amounts. But here in Hawaii, I mean, we know about it, but people in America, they're probably oblivious to it, you know, and it's. So you are bringing a brand new product to the marketplace. Yeah. Yeah. And the first time we tasted this was at our house. And you came for dinner one night and you brought us the hummus and you brought us the chips and there were six of us or eight of us at the time. And I could not believe how delicious the flavor was. Not just the hummus you make. We'll talk about that. But tell us about how you make the chips. Yeah. So these chips, so I take the ulu raw. We have a, I used to do it by hand with a meat slicer. Never want to do that again. That was way, way too much work. We actually have a picture of that, don't we? I think, well, anyway, we might have one. Oh, that's yeah, that's the mixture. That's the hummus guy. But yeah, this one was made with a different machine where I will. I recently bought it, but basically you put the product in there and you cut it in this triangle shape and it just cuts it. So it spits out these chips and then we actually cook it or fry it in coconut oil. So this is cooked in coconut oil. And all we do is add a little garlic salt to it. And that's it. It's very, very simple. How healthy is it? Well, I mean, coconut oil has a lot of good fats for you. Breadfruit itself is very fibrous, so it helps to slow your digestion.  Calories, moderate. I mean, again, it's good food. It has a lot of natural minerals in it. So it's just overall it's a better product than, like, let's say, like a rice has a lot more nutrients than rice would or a potato. I'm learning as I'm going through a change in my diet that calories are not the most important. No, I'm not worried about the calorie amount. What's in the calorie that counts?  There's not minerals and. But with breadfruit, we're finding not only does it taste much, much better than a potato chip doesn't leave that salty taste. Yeah, well, that's that's, I mean, that's our man.  But that's just the way that we do it. I feel like a light, light salt. And like I said, we use coconut oil, which I've tried the other oil. So it's not I just pick coconut oil because it was good. It was also because it tasted better, too. So it has like buttery flavor. The chips are only at farmers markets. So we do like KCC every Saturday morning. We do Kailua on Sundays, Kailua on Thursdays, when we're at Mall Wednesday, Sunday. So the chips right now, well, the problem with the chips is we can only make them seasonally because I want the fresh fruit and breadfruit is seasonal. So that's one issue we have with the breadfruit products. So I could spend a lot of money and do a lot of stuff to make it have it all year round, but I were just not there right now. So this is a seasonal item. So there is like maybe four months out of the year. I just won't have chips and people are not very happy about that. You know, we talked about that from my consulting point of view. How do we make it where you could bring this to market? And it's available through the convenient store market, for instance, through the supermarket chains, even on Amazon. You know, that kind of stuff. And obviously lack of the product availability becomes the weakest part of your business. Yes, yes. And it's something that we're going to attack or I'm trying to help you realize a way to move forward, right? Yeah. And I think that's very, very important. And here, for those of you who do not live in Hawaii, who are watching this from the mainland or in Europe or in Asia, Hawaii has a huge, huge community of native Hawaiian people and they own acres and acres, thousands of acres of land. And what Lauren is doing and what I'm encouraging him to do is to basically work with the Hawaiian community to begin a breadfruit processing center, meaning let them grow the breadfruit, let them process it. You guarantee that you'll buy all of their product that they can make. And then you can make that product available for the supermarket chains, regular retail, etc. Do you like that idea? Yeah, that's definitely one of the ideas. Again, I want everyone to make money, too. So I don't want to feel like over just stealing the land from the farmers and then they don't get paid. I want everyone to feel like it's all a part. We're all in one big group, you know, kind of pushing the breadfruit thing. But again, I think the breadfruit product could be worldwide. So I feel like it could be a really big, big industry, plus with all the gluten-free things going on right now, which this product is gluten-free. So there's a big market for it. So yes, so if we, you know, use that land, have, you know, the native Hawaiian people and just people of Hawaii in general, like, work on it, we can grow their products. And it's agroforestry, too, which means you could have like a breadfruit tree with like a cow underneath it or you can grow other things, too. It doesn't have to be just breadfruit. Right, because it grows on a tree. I have to tell you, I went on a trip to the mainland. I think you remember I went up to Whistler, British Columbia. And I brought 10 bags of these with me and everybody couldn't believe it. You know, they thought it was actually artificial stuff. They didn't believe that it was really a very, very simple product.  Whatever they put in it, we still don't know. Yours is absolute natural breadfruit. Yeah, it's kind of funny because people say, like, oh, do you add like colorings? Did you add preservatives? I'm like, I don't even know how to use that stuff. Like, I mean, that's my response. It's like, what is that? Where do I even buy that? Like, I don't know. Who do I call? Like, I'm not interested at all. But I'm just saying like, I don't know what that is. You know, I'm just making stuff that tastes good. And like, my whole thing has been very simple. Like, even, again, we'll talk about the hummus later, but even the hummus is a very simple product. Like, let's talk about the hummus. OK, let's talk about the hummus. It is delicious, absolutely delicious. Thank you, yeah. First of all, how did you get the recipe? And now you're processing it, and that you're selling also in the farmer's markets, right? Yeah, I mean, we're in over 40 stores across what now. We're on Kauai, obviously, Oahu and Maui, and probably soon to be Big Island, plus along with the farmer's market. So we're in a lot of different sales avenues or places right now. But I'll just say from the beginning, one is I was just walking through a store one day about five years ago, just looking at stuff, you know, just checking things out, who's making what, what's going on.  I'm like, OK, there's, you know, a local salsa there. And, OK, you got a local guacamole. And where's the local hummus? You know, like, I'm not saying it has to be like with local products. I'm just saying someone in Hawaii making hummus that's sold in a store like a safe way. And no one was doing it. Yeah, using garbanzo beans. Yeah, yeah, forget the, you know, at this point, forget the Ulu thing. I'm just like, no one's making garbanzo bean hummus here in Hawaii. I'm like, that's just crazy. Like, what, no, they used to trend item right now. It's, you know, people are interested in it. So I'm like, I can do it. So that was my first thought, you know. Hold that thought. You can see why I call him the ultimate entrepreneur, don't you? Yeah, yeah, so I was like, well, I can do it.   Recipes, you know, it was okay. And then I, like I said, would do farmers' marks. Okay, I got to make it local, right? So I'm like, okay, local Okinawan sweet potatoes. I was making local mushrooms, local peppers, and just making hummus. But I would just give the friends and family, like, hey, do you like this? Is it too spicy? You know, sweet, like, what's going on? But it worked, and people really liked it. But I just never, like, pulled the trigger on making it a company because I know what it takes to make a company. So I was like, well, it's pretty involved. So I have to really, you know, devote my time to it if I really want to do it. So I just never pulled the trigger. And I've always wanted to do products with breadfruit, too. Like, for them, again, it's like an up and coming item. It's very sustainable fiber. You know, it's a lot of good aspects about breadfruit. So I was just one day, I went to this breadfruit get together, per se, is this farm.  You know, come buy it. You know, that's kind of like my take on that meeting. And this lady from the Big Island, she has a great thing going on. It's that Ulu co-op over on the Big Island. So they have a cooperative. All these farmers bring their Ulu over there and then they process it. But their idea is to sell more like schools like institutions. But when you started to make this, when you started to make, I mean, you have different flavors. You have all this kind of stuff. So what you see here, yeah. It's incredible, Lord. I mean, not only did we taste it, but I've had other people taste it, you know, on the mainland. And everybody wants to know, why can't we make this in the mainland? Why can't we go forward with it? We're going to answer that question after we take our break. But just before we take the break, I want people to understand that this hummus is absolutely pure breadfruit, right? 100% zero beans. 100% breadfruit. There's no beans in it whatsoever. What about the health? I mean, there's olive oil in it. There's tahini. So the fats come from like good places. It's not, I'm just, you know, it's good food. Again, we're not concerned about calories. It's just good food. It's wholesome food.  Well, I have to tell our audience that you can't taste it, but I know my mouth is watering. As soon as this episode is over, we're going to be opening this up and letting the crew taste it as well. It is so, so good. We have to take a short break and then we're going to come back with Lawrence Shoe and what I call the ultimate entrepreneur. How did he end up making this? How did he come up with this flavoring? How can we go forward with this? How can we bring it to the mainland? How can you, whether you're in Austria or in Japan or in Los Angeles or New York, have some of this? So we will get back to it in one minute. I'm Seymour Kazimurski on Seymour's World with Lawrence Shoe. Think Tech Hawaii, be back in a minute. Aloha, I want to invite all of you to talk story with John Wahee every other Monday here at Think Tech Hawaii. And we have special guests like Professor Colin Moore from the University of Hawaii who joins us from time to time to talk about the political happenings in this state. Please join us every other Monday, Aloha. I'm Jay Fiedel, Think Tech. Think Tech loves energy. I'm the host of Mina, Marco and Me, which is Mina Morita, former chair of the PUC, former legislator and Energy Dynamics, a consulting organization in energy. Marco Mangostorf is the CEO of Provision Solar in Hilo. Every two weeks, we talk about energy, everything about energy. Come around and watch us. We're on at noon on Mondays every two weeks on Think Tech, Aloha. Welcome back to Seymour's World at Think Tech Hawaii. I'm speaking faster because I only have a few more minutes with a wonderful guest, Lawrence Shoe from Ulu Manau. And Lawrence is the developer, the producer, the manufacturer, the head thinker. He does everything with breadfruit. And I'm excited because it's such a healthy product. Now, we're gonna bring up some pictures right now. And if you could explain what we're showing, what is this? So that is a mixer that I got. And that's the hummus right there. We're making it. So that's basically a final product. So that is our turmeric hummus. So that's all breadfruit again, with like tahini, olive oil. No matter, there's nothing in there. The only preservative I use was lemon juice. And then I recently started using citric acid, which is a natural preservative. That's it. So we have a short shelf life. It's only like two, three weeks. So I don't use any preservatives. Okay, very good. Let's look at the next one. Yeah, so this is real quick. Another company I had was Oahu Foodub, I'm a co-owner. And we started this out of necessity. We needed this to do our products. But we rented out to other local farmers market people, the catering people, people that manufacture food like cookies and poi. And how many tenants do you have at this location? Probably 12 to 15, something in that neighborhood. So not only does he make his own product and do everything himself, sales, marketing, accounting, all that kind of stuff, but on top of that, he's a landlord to 12 to 15 other tenants. Like living with a bunch of roommates, that's the way I put it. Let's see the next one. Yeah, so again, it's a more kitchen space. Yeah, so this is our newest, so we have like this, we call this kitchen three. So we have three main kitchens. Then we have other ones that are owned by people as their space. This is our newest kitchen, kitchen three. Let's look at the next one. And that's the breadfruit. So that's perfect. So like you can see, I don't know how good you can tell on camera, but that picture right there is a perfect ma'a fall of breadfruit that I'm gonna use for hummus. That could not be a better fruit to me. When I see that, I'm just like, oh, that's perfect right there. Okay, cool. And that's a lot more of it right there. So that comes from a farm up in Mililani. That's probably about a thousand pounds right there. Then we process that, cook it, steam it, and then we actually freeze it. So we can have it all year long, as I said, at seasonal. So we're gonna wash it, cut it, steam it, and freeze it. And we have one more photograph. And that's the Lulu chips. So again, mea coconut oil, a bit of garlic salt on there. Real simple, couple ingredients. Fabulous. I think that's our last photo. Am I correct? Yes, okay. So let's go back now, Lauren, and talk about the entrepreneurial side. What I like to see about how much money you can make, when are you gonna become the Elon Musk of the breadfruit business? Can this go forward? Can you make it on the mainland, for instance? Is there enough breadfruit around? Let's talk about that issue. Okay, so I think, to sum it up, I always wanna support Hawaii. You know, I'm born and raised here. I wanna live here forever. This is my place. But that being said, there is breadfruit in other places, like South Pacific, like I said, Jamaica, Puerto Rico, Costa Rica, places like that. So I think it would be worth the idea to explore those places for making breadfruit a bigger product. Like I said, if I wanna walk into a store in Minnesota and pull off a breadfruit item from the shelf, I might be like, instead of a meatball made with a meat, you can make it out of breadfruit or something like that. Much healthier, honestly. Yeah, so it could be like a meat substitute. But I wanna be able to walk into Chicago, or place Chicago, and buy a breadfruit product. How are you gonna do that? Okay, so, oi. Okay, go ahead. That's all right. So I believe we could get started with trees that are already planted, already made, that we could set up processing facilities in these places like South Pacific, Costa Rica, things like that, process the fruit there with cheaper labor. And these people are familiar with the fruit, they eat it themselves at home. So they know how to handle it, cut it, deal with it. And then we could ship the frozen product, either fully packaged or just into raw state, wherever we wanna go. We wanna process in California, perfect. We have the frozen product, raw frozen product. You ship it to California, and then you can put it in the containers, label it, and then ship it out from there. So basically we need to make the raw product somewhere, and then you can make the finished product, like labeled in that part somewhere else. Which is done with many products around the world, obviously. The idea that I like is that we are, we create a new industry for Hawaii. Because as we all know that Hawaii is really dependent on tourism and the military, those are the two basic, and everything else is tiny and picky you, and we've already lost sugar. Pineapple, macadamia nuts are on their way down. So we need to bring more industry to Hawaii. And to do that, breadfruit is a perfect example. This is something where you can have farms that are growing breadfruit in different stages. So you have year-round breadfruit in California. They're doing, Noel Inca's doing studies, so UH is doing studies right now to figure that out. So I don't have the answer for that, but that's what they're doing today. So they're planting trees all over the place and having people like you and me record the data. So we have people in the field, it's just, you know, it's us, people at your backyard, but at different elevations and different places on the island, west side, dry side, high, low. So they can find out, okay, well, this tree produced all year round, this tree produced once a year, maybe this and twice a year. So where is the sweet spot or where can we plant the low, maybe at a low elevation? It goes in the summer and then the high elevation is winter, I don't know. Let me ask you a couple of business questions. What do you feel the market potential is for this product? I mean, I couldn't put a number on it, but it basically, as you can see, like jackfruit is huge right now. It's the meat substitute and like it acts as like a pooled pork product. I don't know the numbers on it potentially, but hundreds of millions of dollars. I mean, I'm sure it's well over like, at least a 250 million probably. So you feel that bread food can also achieve that kind of status because of its health benefit and because it's easy to process as well? It's easy to process and you get a lot of product from a fruit, like it's hard to understand, but this is all food right here. I mean, this is two pounds of food. I can make two pounds of product or more. It's crazy that someone hasn't really done this before. It's kind of surprising. And this tree grows in like sand and it grows in harsher climates. Like it can grow. It doesn't need specific areas. It doesn't need to be like, oh, are you OK today plant? It just grows. So I see the potential is pretty huge as far as the gluten free thing is going on, all this healthy eating is going on, which I don't see stopping anytime soon. But this could tack on to that train and be easily over $100 million product. Well, it's so funny you say that because we looked at coconut water about 15, 20 years ago. Somebody came to me with the idea. They said, see, what do you think of this investment I want to invest in? I think it was coming from South America at the time, something like that. And I said, coconut water, eh, I don't think so. And of course, look at it today. Coca-Cola just bought a coconut water processing facility for $460 million. So we know that if you have an innovative product, and Lauren, I'm telling you this from the consulting point of view, no charge, if you have an innovative product and you decide to manufacture or produce this product, it could take over. You could really do extremely well. To the point where you can't do it by yourself, you'll need food brokerages, you'll need manufacturing facilities in different countries around the world. But that's easy once you've proven that the product does work, that people love it. And I can tell you from the people that have tested it in our family in both Canada and in the USA, it is an amazing product. Thank you. You've got something. Thank you. Now what else you have here? What is this here? Can we show that? Yeah, so again, the way I got started with all this food product, again, I'm not a foodie either. And I think that's a good thing because I don't fancy things up or say I don't like or crave going to really nice restaurants and like, oh, they use this oil and this saffron thing. I'm like, I don't want food. So I feel like that's where our products shine is because it's very simple stuff. So people all across the world can like, it's not just a Hawaiian taste. You've got to live here to like this flavor. This is like anyone across the world could like this stuff. But anyways, I kind of got started through this selling products at the farmers market. I'm from the Big Island, so I bring over Big Island products like jams, jellies. I was selling those. It went really well.  Because Big Island is a limited market and Oahu is going to grow their market. So Ahua Loa Farms is one of those companies that I've been working with for about five years. So I bring their stuff here and then I sell it at farmer's markets. Do you package this? I don't know. No, I just get it in the box. I just get the product and then I represent them at farmer's markets and places like Whole Foods and Tamurra's and things like that. So I'm a product rep along with actually selling the product. And that's just another hat that you're wearing. There's another one, yeah. So let's see, how many hats are we talking about? Yeah, actually, this year, I closed two entities. I closed a Lee E. Seafood Company and I closed Farm to Market Hawaii. So I'm trying to console it. So I don't have two entities now, which is nice. And a lot easier to handle. A lot, yes, the tax is easier. Besides the 15 tenants that you have that you have to manage as well. I really admire you for that. I think at your age, why not? Even at my age, I'm all over the place with the stuff that I do. It's fun. I think it's also very, very important to realize you're not going to be successful in everything that you do. No, I haven't. And anything that you fail at has to be looked at as a lesson rather than a failure. And once you realize that fact, then you're still willing to take risks because otherwise you'll end up not wanting to take risks because you're afraid of failure. Fear of failure is the worst, worst thing for a business owner. No, I've done it all.  I did the food truck thing. I've done a fish business. I've never wanted to do fish again. It was really hard to deal with. So yeah, I've lost money and time and effort and equipment. And I haven't done it all, but I've done a lot in a short period of time and I want to stick with something like this. I have to say, Lauren, we only have a couple of minutes, so I'm going to open this up. Please do. Because I want people to realize how delicious this is. Absolutely. It's just one of those things that I can't believe.  This has garlic in it. It has a little bit of garlic salt, coconut oil and breadfruit. Three ingredients and it's buttery, it's crunchy and you just want more. Yeah. And it's not guilty. You don't have to feel guilty about eating it either. It is delicious. Absolutely delicious. So I'm sorry to say you can't join me, but that's too bad for you. If you want some, contact me or contact Lauren. You can ship this all over the place. We can. It's on our website, sorry, another business. Hawaiian FarmersMarket.com. You can find the mac nuts, the chips and a bunch of other small locally made products that you ship flat rate anywhere in the US for 13 bucks or for free.  Thank you. Because I'd love to see young entrepreneurs develop their line, develop their product, get out into the marketplace, make mistakes. Yeah. But at the same time, you are going to do it with this. Congratulations. Thank you very much. Pleasure to see you and thank you for coming to Seymour's World. Yeah. To all of you, we'll see you in a couple of weeks where we'll be back and I have another very surprising guest for you next time on Seymour's World. Aloha.