Episode Transcript
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times create weak people. Weak people create
1:21
bad times. Bad times create strong people.
1:23
Strong people create great times. What I
1:25
want people to get is you got
1:27
to know where you are in your
1:29
life and where you are in history
1:31
and you got to learn to take
1:33
advantage of it. You can't complain that
1:35
it's winter. During winter, if you start
1:37
a business in winter and you succeed,
1:39
60 % of all Fortune 1000 companies that
1:41
are alive today, the biggest of some
1:43
successful companies, could have been born in
1:45
any one of those four seasons, they're
1:47
all born in winter. In a recession
1:50
or a depression. From FedEx to Disney,
1:52
Disney was a depression. FedEx was a
1:54
recession. I go walk you through the
1:56
mall. So that process makes you strong. was
2:00
finding that part that's inside of all
2:02
of us that will not give up.
2:04
You know, I'm proud to be a
2:06
good human being, I believe I'm a
2:08
good human being, but I think hunger
2:10
often comes, not always, often comes, from
2:12
having gone through enough pain, like I'm
2:14
having gone through enough pain, like I've
2:16
suffered, now I don't want to, enough
2:18
pain, like I've suffered, now I don't
2:20
want somebody, enough pain, like I've suffered,
2:22
I don't know what the answer on
2:24
this. Right now there's millions of things
2:26
we could focus on. People listening can
2:28
be focusing on what they're doing, what
2:30
we're saying, whether it matters or not,
2:33
you know, a million things, right? But
2:35
we only focus on a small band
2:37
of things, and whatever we focus on,
2:39
we experience in life. But then the
2:41
second decision you make, as soon as
2:43
you focus on something, as you give
2:45
it a meaning, is this the end
2:47
of the relationship you're going to behave
2:49
very different than the beginning? Is this
2:51
person dissing me? Are they challenging me?
2:53
Are they challenging me? Are they challenging
2:55
me? Are they challenging me? Are they
2:57
coaching me? Are they coaching me? Are
2:59
they actually coaching me? Are they actually
3:01
loving me? Whatever meaning you create produces
3:03
emotion and those emotions control your third
3:05
decision which is what are you going
3:07
to do? We don't experience life. We
3:09
experience life we focus on. But once
3:11
we understood seasons, we knew if you
3:13
do the right thing at the wrong
3:15
time, there is zero reward. But if
3:17
you do the right thing at the
3:20
right time, the rewards are immense. So
3:22
if you plant in the winter, I
3:24
don't care how hard to work or
3:26
the summer, you get nothing. It's like
3:28
recognizing the seasons changed humanity. Well, there's
3:30
a season in your own life. Some
3:32
of your viewers are younger, maybe, zero
3:34
to 21. Think of that, it's springtime.
3:36
When it's springtime, what does spring have?
3:38
Everything grows easily. If it's springtime in
3:40
business, you're everything grows easily. If it's
3:42
a springtime in business, you think you're
3:44
a genius because your business grows because
3:46
it's a time of tremendous optimism and
3:48
immense growth. The environment's different people's attitudes
3:50
are different. You see about every 18
3:52
to 20 years there's a shift. It's
3:54
kind of like we exhaust an emotion.
3:56
Do you ever smile so much your
3:58
face hurt? Yes. You know what I
4:00
mean? So you need a change. Sure.
4:02
Well, after springtime, the easy time, comes
4:04
a summertime. And the summer is always
4:07
a testing time. It's tougher. A lot of
4:09
people plant in the spring and they go,
4:11
where's my, you know, where's my crop? Are
4:13
you new? You have to get through all
4:16
the seasons, right? So summer tests people. And
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then you go to another reaping time. You go
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to the fall where it's easy again, where now
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things flow. Economies go crazy. People want to
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give you a mortgage even though you barely
4:26
have a pulse and not a job. You
4:28
remember those days. Of course, no one coming to
4:30
assets. And boom, just give it to anyway.
4:32
And markets go through the roof. But again,
4:35
what follows that is winter. And the great
4:37
thing about life is. You never skip from the
4:39
fall to spring. You always go through winter. Some
4:41
are short, some are long, some are hard, some
4:43
are easy. But we go through them. They have
4:45
a purpose. They weed out the week. They make
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us if we push through it stronger. They make
4:50
everything better going forward. So there's a purpose
4:52
in every season. What happened to that kid
4:54
born in 1910 and 1929 when he's 19
4:56
thinking he's going to go get a car
4:59
and he's going to go get a party?
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The whole world turned upside down. The depression.
5:03
People jumping out of buildings, the dust bowl,
5:05
people standing in line for bread. And by
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the way, they made it through 10 years.
5:10
Ten years of depression. Now that doesn't mean
5:12
every day is dark. You know, you can
5:14
be winter and have beautiful days. 31, 32
5:17
were nice times. But the Orvo thing was
5:19
testing and they became strong because they had
5:21
to be. Then right when they turned 29,
5:23
1939, what happens? World War II, you
5:25
and I weren't alive then, but anybody
5:28
was alive then, it looked like the
5:30
world was ending. Kealer was taking over
5:32
countries in days, Blitzkreeking everywhere. And so
5:34
what happened is that generation volunteered and
5:36
went to war. And they won the
5:39
war and they came back to the
5:41
heroes. They're now known as the greatest
5:43
American generation. And they were known as
5:45
flappers and losers. What made them strong
5:48
was pushing through winter. Everybody, listen to
5:50
me now, everybody goes through winter if
5:52
they live 80 years plus. You know,
5:54
if you look at the history of the
5:56
world, good times create weak people. They're
5:58
not bad people. they just have never
6:01
been challenged. So I have these experiences
6:03
that challenge me so strongly and I
6:05
met the challenge and it changed my
6:07
sense of identity about who I was
6:09
and what I was capable of. And
6:11
then I couldn't help but spread them.
6:13
And I slept on the hill one
6:15
night was raining and then the next
6:17
day I was like I can't stay
6:19
on the rain. I went to this
6:21
girlfriend's house and they let me stay
6:24
in their you know their little what
6:26
he called washing machine room. And then
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I took the little swoney I had
6:30
and I took these buses and I
6:32
bought. a book I went to Claremont
6:34
California I was about 15 miles away
6:36
and I bought this book at this
6:38
bookstore called The Magic of Believing by
6:40
Claude in Bristol and I talked about
6:42
how to program your mind and I
6:44
was writing on the mirror in the
6:46
laundry room all my goals and I
6:49
mean these posters said only you know
6:51
only a idiot gets depressed only a
6:53
loser gets depressed is not true but
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that was my way of leveraging myself
6:57
right and I started to make these
6:59
changes and then I tried to go
7:01
to work for Jim Roan and it
7:03
was Christmas so I had to keep
7:05
working as a janitor and what changed
7:07
my life was finding that part that's
7:09
inside of all of us that will
7:12
not give up. I was so driven
7:14
I wanted to it was a way
7:16
of finding love with my father was
7:18
by becoming better and I also had
7:20
I had huge drive because I just
7:22
wanted to be more I didn't want
7:24
to settle I looked at our family
7:26
and and all the pain that I
7:28
saw my mother go through and we
7:30
would go through and I was like
7:32
I'm not going to have a future
7:34
like that. I'm going to find some
7:37
way to do more. So it produced
7:39
drive. So even when I was in
7:41
sports, I was so competitive in junior
7:43
high school that, like, you know, I
7:45
was a little guy, but I played
7:47
linebacker and quarterback. And I would, during
7:49
practice, guys would complain because I'd stick
7:51
them so hard. And I'd say, you
7:53
get strong. I'm half your size, but
7:55
you know, you get low, you can
7:57
take anybody out, right? So I had
8:00
this intensity in that level. Meaning there
8:02
is what's wrong is always available so
8:04
it's what's right whatever you focus on
8:06
you feel even if it's not true
8:08
if you imagine something horrible is gonna
8:10
happen you feel it you're in your
8:12
body right so focus equals feeling focus
8:14
reality to the individual. You know it's
8:16
a reality and actuality. We decide every
8:18
moment we're deciding what to focus on,
8:20
but most of us don't decide consciously,
8:22
it's based on happen. So we're not
8:25
in control. But we can consciously choose
8:27
what to focus on. When we decide
8:29
what to focus on, our brain has
8:31
to come up with a meaning, like
8:33
we said, the end of the beginning,
8:35
loving me or dissing me, whatever the
8:37
case may be, and that affects your
8:39
emotions, which decides, And I think I
8:41
know with you would be pretty simple.
8:43
But which of these do you tend
8:45
to spend more time in? Do you
8:48
tend to focus more on what you
8:50
have or what's missing? What's missing? That's
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right. And when I ask most audiences
8:54
that I have of 20,000 people in
8:56
the stadium, the majority of them are
8:58
achievers. And the majority of them focus
9:00
on what's missing. It'll make you keep
9:02
pushing, but it's very hard to sustain
9:04
deep levels of happiness. Because you're all
9:06
focused on what's missing. And so you're
9:08
an overachiever so you can still stack
9:10
those enough to still feel good. But
9:13
for most people, they go, it's missing.
9:15
I'm missing the love of my life.
9:17
I'm missing this, I'm missing that. That
9:19
puts in the state of frustration, anger,
9:21
sadness or ultimately depression. That period of
9:23
time, by the way, 22 to 42
9:25
to 42 of people, Because people are
9:27
trying, they thought it was going to
9:29
be easy. It's not so easy, they
9:31
eventually learn. Usually they're 32. Yeah. And
9:33
what they learn is, well not as
9:36
easy as I thought, I'm not as
9:38
invincible as I thought, and they have
9:40
to figure things out. And they're trying
9:42
to prove themselves to themselves and others.
9:44
They haven't figured it all out yet.
9:46
Now some people do these seasons earlier,
9:48
some later, but it's a good good
9:50
range. In that power period, that's when
9:52
you have the greatest economic growth economic
9:54
growth. That's when you start having long-
9:56
is really when you get to 63
9:58
to 83 or 63 to 100. 103
10:01
or 63 and 120, which is the
10:03
oldest humans, the final season, the winter
10:05
season. But that's the season in which
10:07
you really are the elder of society,
10:09
and if you've done your job up
10:11
front, you've reaped so much, all you
10:13
want to do is give back, and
10:15
you don't worry about what people think
10:17
about you. It's all patterns, as you
10:19
know, Patrick. Like, if anyone listening wants
10:21
to say, okay, the world seems uncertain.
10:24
And yeah, I look at five kids
10:26
and five grandkids. I have a 50-year-old
10:28
daughter and I have a three and
10:30
a half-year-old daughter because three of my
10:32
kids I adopted early on when I
10:34
was just 24, 25 years old. And
10:36
so I look at my grandkids, especially
10:38
at my youngest daughter, and I think
10:40
40% of the jobs, if you believe
10:42
the studies, are going to be gone
10:44
because of AI, because of robotics, because
10:46
of nanotechnology and so forth. So how
10:49
do I arm them to do well
10:51
in the future? And the answer is,
10:53
there's three skills everybody skills everybody needs.
10:55
And there the skills to make anybody
10:57
masterful of this might do successful in
10:59
your insurance business. It's what's made you
11:01
successful in this business. The first thing
11:03
is pattern recognition. If you start recognizing
11:05
patterns, fear disappears. Because like right now
11:07
people say oh, we've never been so
11:09
divided or now we're you know the
11:12
country has more optimism But we never
11:14
been so divided. It's a little BS
11:16
I can show you the letters that
11:18
are put out that were posted between
11:20
Jefferson and Adams and if you read
11:22
what they wrote It makes anything the
11:24
left or right has said about each
11:26
other look calm compared to that. So
11:28
it's like we go in cycles. So
11:30
when you recognize a pattern you no
11:32
longer react. It's like losers react leaders
11:35
anticipate Anticipation is power. So when you
11:37
know the pattern, and that's what makes
11:39
anybody great, they see the pattern. But
11:41
what makes them really great is the
11:43
second skill when you learn to use
11:45
the patterns. So if you and I
11:47
look at anybody and you see somebody
11:49
that's great in investing, and I've been
11:51
interviewed 50 of the very, more than
11:53
50 of the very, the very best
11:55
in the world. The Ray Dallias, the
11:57
Carl icons, the Warren Buffets, all the
12:00
best in private equity. And what you
12:02
begin to see is there are certain
12:04
patterns. But they know how to use
12:06
it. If you see somebody great in
12:08
music or dance or a movie maker,
12:10
they know where to move the camera,
12:12
to move your emotion. They bring it
12:14
in close. When to bring the music
12:16
up, how to do it. They know
12:18
it. That makes them masterful. But the
12:20
third level skill is pattern creation. That's
12:23
what you've begun to do. It's like,
12:25
when you learn to play a piano,
12:27
most people learn someone else's patterns. You
12:29
learn to see the patterns, recognize, recognize
12:31
them, then you've got to come out.
12:33
and you start creating things. So I'm
12:35
standing on the shoulders of all the
12:37
people before me as are you, because
12:39
I learned so many things to them,
12:41
but now at this stage of my
12:43
life, the last 15, 20 years, I've
12:45
been able to create things because I
12:48
know what those patterns are. So those
12:50
skill sets, that's how my kids will
12:52
do well, because if you can learn
12:54
rapidly and recognize patterns, there's nothing you
12:56
can't do well at. And that's really,
12:58
and by the way, noting the patterns
13:00
of where we are in your own
13:02
life. I'll give you a simple example.
13:04
What made human beings go from survival,
13:06
living in fear, where we're hunter-gatherers, to
13:08
where we could stay in one place,
13:11
build communities, build cities, build countries, have
13:13
homes, have the education? What made that
13:15
possible is one pattern recognition that changed
13:17
humanity? Seasons. Seasons. Until we understood seasons,
13:19
we had to constantly move from place
13:21
to place and hope we could find
13:23
our food. But once we understood seasons,
13:25
we knew if you do the right
13:27
thing at the wrong time, there is
13:29
zero reward. But if you do the
13:31
right thing at the right time, the
13:33
rewards are immense. Saver
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