00:00Rashad Bilal and Troy Millings are the CEOs and co-founders of Earn Your Leisure, an educational platform that looks
00:06to help individuals obtain financial freedom and build generational wealth.
00:09They've authored a couple of books, including You Deserve to Be Rich, and they've got a variety of podcasts, including
00:14Market Mondays, which I always like to check out because you guys are kind of speaking my language with your
00:19focus on stocks.
00:19And I actually do want to start there because I know you guys have covered the SpaceX IPO and the
00:24trajectory of that.
00:25This was kind of the IPO everybody wanted a part of. Doesn't matter whether you're an institutional investor or an
00:30individual investor.
00:32When you look at the sort of the frenzy out there for, I guess, anything artificial intelligence or even Elon
00:37Musk related, is that still there? Is that still wise?
00:40Yeah, I think the appetite is there. I think the most important thing and what we provide is education.
00:44And so when we see IPOs as retail investors, we want to make sure that we understand what lockup periods
00:48are, right, when those expire, how things can get sold out of positions and people can really get stuck holding
00:54it back, so to say.
00:54And so we want to make sure that we educate them. If you're going to invest in it, you're going
00:58to do it for the long term.
00:58And so this is not something that you're trading, but you're going to keep in your portfolio five to ten
01:02years.
01:02What about like kind of the rest of the universe? I mean, we talk all ad nauseum on this show
01:07about Micron and SanDisk, which are probably two of the best performing stocks so far this year.
01:11And most people seem to think, at least for a while, they're probably going to continue to be the beneficiaries
01:16of the AI trade.
01:17Yeah, the memory story is not over yet. We talked about that on Monday, actually.
01:20Yeah. You saw that Apple stock actually went down because they have to raise the prices of the iPhone because
01:24that the memory chips are going to be more expensive.
01:27So the Micron story is something that he talked about two years ago, and we've been beneficiaries of that.
01:32But I don't think that the story is over yet.
01:35I think that there's still a lot more to come when it comes to a lot of the memory stocks.
01:40But you talk about Micron and SanDisk, those have been the hot ones.
01:43But I think that as artificial intelligence continues to permeate society, we're going to need memory.
01:49It's just it's a no brainer.
01:51So we're talking about chip stocks. We're talking about SpaceX.
01:54I mean, we're talking about the hottest stocks in the market.
01:57And I wonder, you know, how you guys sort of think about what you're going to talk about.
02:02You know, I mean, I have to imagine it's similar to Romain and I putting together a show.
02:05But how much of it is informed by the audience?
02:08You know that, you know, the folks who are listening to your show are probably trading these stocks.
02:13How do you sort of take that input versus, you know, thinking this is something that's really important that maybe
02:18we should cover?
02:19It's combined effort with our partner, Ian Dunlap, who's an amazing investor as well.
02:23But we kind of look at where we're headed.
02:25I think in order to be a really good investor, you got to have vision.
02:29And so we kind of look into the future.
02:30And so what he was alluding to 2024, we're seeing the GPU story play out.
02:34But what's the next thing, right?
02:35If GPUs have compute, they are going to need some space for memory.
02:39And so now when we're seeing memory come to the forefront, excuse me, it's what's the next thing?
02:43Is it photonics?
02:45Is it infrastructure?
02:46Is it energy?
02:47And so Jensen talks about this five-layer cake.
02:49And so we're looking at the five-layer cake.
02:51But more importantly, we're looking at the companies that are going to be inside those layers, whether it's from infrastructure,
02:55energy, application software.
02:57And so we're taking a broad view of the space and saying, okay, here's a pocket where we can invest
03:03in.
03:03Absolutely.
03:04And so you guys are all about financial literacy.
03:06And I wonder, you know, do you see a tension between financial literacy and, you know, really understanding wealth creation
03:13and preservation versus, you know, what we're seeing is the rise of the individual trader, the retail trader.
03:18Because, I mean, you think about especially coming out of the pandemic, there's been a lot of success stories.
03:23But there's also been a lot of concern that, you know, given how quickly markets move, that if we do
03:29see a lot of folks coming in and putting a lot of money on the line, that, you know, there's
03:34the potential for a lot of wealth destruction as well.
03:37Absolutely.
03:37You know, the democratization of finance is something that's beneficial, but it's also something that has to come with education
03:43because if not, then, you know, you're gambling.
03:45And, you know, you see a lot of people trading options now.
03:48You see a lot of people taking more risk.
03:50And that a lot of times is done because they want short-term gratification.
03:55So it's our job to, you know, educate them as much as possible and lead them with long-term investing
04:01in solid companies, first and foremost.
04:03Like, you know, it's not something that you just want to put all your money into the hottest stock and
04:08do zero-day option and try to become rich tomorrow.
04:10I think that that's something that is dangerous.
04:13So I think that the retail investor is educated now, but, you know, we have to continue that education to
04:19make sure that we're not hurting them.
04:21I mean, one way you educate, too, I mean, you have some great interviews with kind of, I guess, nontraditional
04:25people in finance.
04:26You just had the rapper French in Montana on with a conversation about finance and 50 Cent and a few
04:31others.
04:31And you have a big event in Atlanta called InvestFest, which brings kind of a hodgepodge of people from a
04:36wide variety of industries, entertainment, the world of finance itself here.
04:40Talk a little bit about why it's important to have that kind of diversity of thought.
04:44Well, because the world is diverse.
04:46So, you know, we want to meet everybody where they're at.
04:48And edutainment is something that, you know, we mix education with entertainment, and that's something that's been the key to
04:55our success.
04:55So you talk about InvestFest.
04:57It's one of the largest business events in the world, probably the largest when it comes to, you know, retail
05:01investors, 25,000 people a day for three days.
05:04And that's a mix.
05:05So we have people like John Morgan from Morgan & Morgan, Billionaire.
05:10We have Mike Novogratz.
05:11We have Tashauna Duckett, who's the CEO of TIA Craft.
05:14Serena Williams will be the headliner.
05:16But we want to have everyday people as well.
05:19So the everyday restaurateur, the person that, you know, is into science.
05:23So we have a broad range of people because I feel like at least one person can identify themselves with
05:30somebody that's been on our show or somebody that's going to be on the stage.
05:33And we never want to, you know, alienate people.
05:35And we never want to have people that feel like this is not for them because they can't identify with
05:39the person that's talking.
05:40Well, we really appreciate you guys stopping by our show.
05:43That, of course, is Rashad Bilal and Troy Millings.
05:46They are the CEOs and the co-founders of Earn Your Leisure.
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