Podcasts about Class B

Last time we spoke about the surrender of Japan. Emperor Hirohito announced the surrender on August 15, prompting mixed public reactions: grief, shock, and sympathy for the Emperor, tempered by fear of hardship and occupation. The government's response included resignations and suicide as new leadership was brought in under Prime Minister Higashikuni, with Mamoru Shigemitsu as Foreign Minister and Kawabe Torashiro heading a delegation to Manila. General MacArthur directed the occupation plan, “Blacklist,” prioritizing rapid, phased entry into key Japanese areas and Korea, while demobilizing enemy forces. The surrender ceremony occurred aboard the Missouri in Tokyo Bay on September 2, with Wainwright, Percival, Nimitz, and UN representatives in attendance. Civilians and soldiers across Asia began surrendering, and postwar rehabilitation, Indochina and Vietnam's independence movements, and Southeast Asian transitions rapidly unfolded as Allied forces established control. This episode is the Aftermath of the Pacific War Welcome to the Pacific War Podcast Week by Week, I am your dutiful host Craig Watson. But, before we start I want to also remind you this podcast is only made possible through the efforts of Kings and Generals over at Youtube. Perhaps you want to learn more about world war two? Kings and Generals have an assortment of episodes on world war two and much more  so go give them a look over on Youtube. So please subscribe to Kings and Generals over at Youtube and to continue helping us produce this content please check out www.patreon.com/kingsandgenerals. If you are still hungry for some more history related content, over on my channel, the Pacific War Channel you can find a few videos all the way from the Opium Wars of the 1800's until the end of the Pacific War in 1945.  The Pacific War has ended. Peace has been restored by the Allies and most of the places conquered by the Japanese Empire have been liberated. In this post-war period, new challenges would be faced for those who won the war; and from the ashes of an empire, a defeated nation was also seeking to rebuild. As the Japanese demobilized their armed forces, many young boys were set to return to their homeland, even if they had previously thought that they wouldn't survive the ordeal. And yet, there were some cases of isolated men that would continue to fight for decades even, unaware that the war had already ended.  As we last saw, after the Japanese surrender, General MacArthur's forces began the occupation of the Japanese home islands, while their overseas empire was being dismantled by the Allies. To handle civil administration, MacArthur established the Military Government Section, commanded by Brigadier-General William Crist, staffed by hundreds of US experts trained in civil governance who were reassigned from Okinawa and the Philippines. As the occupation began, Americans dispatched tactical units and Military Government Teams to each prefecture to ensure that policies were faithfully carried out. By mid-September, General Eichelberger's 8th Army had taken over the Tokyo Bay region and began deploying to occupy Hokkaido and the northern half of Honshu. Then General Krueger's 6th Army arrived in late September, taking southern Honshu and Shikoku, with its base in Kyoto. In December, 6th Army was relieved of its occupation duties; in January 1946, it was deactivated, leaving the 8th Army as the main garrison force. By late 1945, about 430,000 American soldiers were garrisoned across Japan. President Truman approved inviting Allied involvement on American terms, with occupation armies integrated into a US command structure. Yet with the Chinese civil war and Russia's reluctance to place its forces under MacArthur's control, only Australia, Britain, India, and New Zealand sent brigades, more than 40,000 troops in southwestern Japan. Japanese troops were gradually disarmed by order of their own commanders, so the stigma of surrender would be less keenly felt by the individual soldier. In the homeland, about 1.5 million men were discharged and returned home by the end of August. Demobilization overseas, however, proceeded, not quickly, but as a long, difficult process of repatriation. In compliance with General Order No. 1, the Japanese Imperial General Headquarters disbanded on September 13 and was superseded by the Japanese War Department to manage demobilization. By November 1, the homeland had demobilized 2,228,761 personnel, roughly 97% of the Homeland Army. Yet some 6,413,215 men remained to be repatriated from overseas. On December 1, the Japanese War Ministry dissolved, and the First Demobilization Ministry took its place. The Second Demobilization Ministry was established to handle IJN demobilization, with 1,299,868 sailors, 81% of the Navy, demobilized by December 17. Japanese warships and merchant ships had their weapons rendered inoperative, and suicide craft were destroyed. Forty percent of naval vessels were allocated to evacuations in the Philippines, and 60% to evacuations of other Pacific islands. This effort eventually repatriated about 823,984 men to Japan by February 15, 1946. As repatriation accelerated, by October 15 only 1,909,401 men remained to be repatriated, most of them in the Soviet Union. Meanwhile, the Higashikuni Cabinet and Foreign Minister Shigemitsu Mamoru managed to persuade MacArthur not to impose direct military rule or martial law over all of Japan. Instead, the occupation would be indirect, guided by the Japanese government under the Emperor's direction. An early decision to feed occupation forces from American supplies, and to allow the Japanese to use their own limited food stores, helped ease a core fear: that Imperial forces would impose forced deliveries on the people they conquered. On September 17, MacArthur transferred his headquarters from Yokohama to Tokyo, setting up primary offices on the sixth floor of the Dai-Ichi Mutual Life Insurance Building, an imposing edifice overlooking the moat and the Imperial palace grounds in Hibiya, a symbolic heart of the nation.  While the average soldier did not fit the rapacious image of wartime Japanese propagandists, occupation personnel often behaved like neo-colonial overlords. The conquerors claimed privileges unimaginable to most Japanese. Entire trains and train compartments, fitted with dining cars, were set aside for the exclusive use of occupation forces. These silenced, half-empty trains sped past crowded platforms, provoking ire as Japanese passengers were forced to enter and exit packed cars through punched-out windows, or perch on carriage roofs, couplings, and running boards, often with tragic consequences. The luxury express coaches became irresistible targets for anonymous stone-throwers. During the war, retrenchment measures had closed restaurants, cabarets, beer halls, geisha houses, and theatres in Tokyo and other large cities. Now, a vast leisure industry sprang up to cater to the needs of the foreign occupants. Reopened restaurants and theatres, along with train stations, buses, and streetcars, were sometimes kept off limits to Allied personnel, partly for security, partly to avoid burdening Japanese resources, but a costly service infrastructure was built to the occupiers' specifications. Facilities reserved for occupation troops bore large signs reading “Japanese Keep Out” or “For Allied Personnel Only.” In downtown Tokyo, important public buildings requisitioned for occupation use had separate entrances for Americans and Japanese. The effect? A subtle but clear colour bar between the predominantly white conquerors and the conquered “Asiatic” Japanese. Although MacArthur was ready to work through the Japanese government, he lacked the organizational infrastructure to administer a nation of 74 million. Consequently, on October 2, MacArthur dissolved the Military Government Section and inaugurated General Headquarters, Supreme Commander for the Allied Powers, a separate headquarters focused on civil affairs and operating in tandem with the Army high command. SCAP immediately assumed responsibility for administering the Japanese home islands. It commandeered every large building not burned down to house thousands of civilians and requisitioned vast tracts of prime real estate to quarter several hundred thousand troops in the Tokyo–Yokohama area alone. Amidst the rise of American privilege, entire buildings were refurbished as officers' clubs, replete with slot machines and gambling parlours installed at occupation expense. The Stars and Stripes were hoisted over Tokyo, while the display of the Rising Sun was banned; and the downtown area, known as “Little America,” was transformed into a US enclave. The enclave mentality of this cocooned existence was reinforced by the arrival within the first six months of roughly 700 American families. At the peak of the occupation, about 14,800 families employed some 25,000 Japanese servants to ease the “rigours” of overseas duty. Even enlisted men in the sparse quonset-hut towns around the city lived like kings compared with ordinary Japanese. Japanese workers cleaned barracks, did kitchen chores, and handled other base duties. The lowest private earned a 25% hardship bonus until these special allotments were discontinued in 1949. Most military families quickly adjusted to a pampered lifestyle that went beyond maids and “boys,” including cooks, laundresses, babysitters, gardeners, and masseuses. Perks included spacious quarters with swimming pools, central heating, hot running water, and modern plumbing. Two observers compared GHQ to the British Raj at its height. George F. Kennan, head of the State Department's Policy Planning Staff, warned during his 1948 mission to Japan that Americans had monopolized “everything that smacks of comfort or elegance or luxury,” criticizing what he called the “American brand of philistinism” and the “monumental imperviousness” of MacArthur's staff to the Japanese suffering. This conqueror's mentality also showed in the bullying attitudes many top occupation officials displayed toward the Japanese with whom they dealt. Major Faubion Bowers, MacArthur's military secretary, later said, “I and nearly all the occupation people I knew were extremely conceited and extremely arrogant and used our power every inch of the way.” Initially, there were spasms of defiance against the occupation forces, such as anonymous stone-throwing, while armed robbery and minor assaults against occupation personnel were rife in the weeks and months after capitulation. Yet active resistance was neither widespread nor organized. The Americans successfully completed their initial deployment without violence, an astonishing feat given a heavily armed and vastly superior enemy operating on home terrain. The average citizen regarded the occupation as akin to force majeure, the unfortunate but inevitable aftermath of a natural calamity. Japan lay prostrate. Industrial output had fallen to about 10% of pre-war levels, and as late as 1946, more than 13 million remained unemployed. Nearly 40% of Japan's urban areas had been turned to rubble, and some 9 million people were homeless. The war-displaced, many of them orphans, slept in doorways and hallways, in bombed-out ruins, dugouts and packing crates, under bridges or on pavements, and crowded the hallways of train and subway stations. As winter 1945 descended, with food, fuel, and clothing scarce, people froze to death. Bonfires lit the streets to ward off the chill. "The only warm hands I have shaken thus far in Japan belonged to Americans," Mark Gayn noted in December 1945. "The Japanese do not have much of a chance to thaw out, and their hands are cold and red." Unable to afford shoes, many wore straw sandals; those with geta felt themselves privileged. The sight of a man wearing a woman's high-buttoned shoes in winter epitomized the daily struggle to stay dry and warm. Shantytowns built of scrap wood, rusted metal, and scavenged odds and ends sprang up everywhere, resembling vast junk yards. The poorest searched smouldering refuse heaps for castoffs that might be bartered for a scrap to eat or wear. Black markets (yami'ichi) run by Japanese, Koreans, and For-mosans mushroomed to replace collapsed distribution channels and cash in on inflated prices. Tokyo became "a world of scarcity in which every nail, every rag, and even a tangerine peel [had a] market value." Psychologically numbed, disoriented, and disillusioned with their leaders, demobilized veterans and civilians alike struggled to get their bearings, shed militaristic ideologies, and begin to embrace new values. In the vacuum of defeat, the Japanese people appeared ready to reject the past and grasp at the straw held out by the former enemy. Relations between occupier and occupied were not smooth, however. American troops comported themselves like conquerors, especially in the early weeks and months of occupation. Much of the violence was directed against women, with the first attacks beginning within hours after the landing of advance units. When US paratroopers landed in Sapporo, an orgy of looting, sexual violence, and drunken brawling ensued. Newspaper accounts reported 931 serious offences by GIs in the Yokohama area during the first week of occupation, including 487 armed robberies, 411 thefts of currency or goods, 9 rapes, 5 break-ins, 3 cases of assault and battery, and 16 other acts of lawlessness. In the first 10 days of occupation, there were 1,336 reported rapes by US soldiers in Kanagawa Prefecture alone. Americans were not the only perpetrators. A former prostitute recalled that when Australian troops arrived in Kure in early 1946, they “dragged young women into their jeeps, took them to the mountain, and then raped them. I heard them screaming for help nearly every night.” Such behaviour was commonplace, but news of criminal activity by occupation forces was quickly suppressed. On September 10, 1945, SCAP issued press and pre-censorship codes outlawing the publication of reports and statistics "inimical to the objectives of the occupation." In the sole instance of self-help General Eichelberger records in his memoirs, when locals formed a vigilante group and retaliated against off-duty GIs, 8th Army ordered armored vehicles into the streets and arrested the ringleaders, who received lengthy prison terms. Misbehavior ranged from black-market activity, petty theft, reckless driving, and disorderly conduct to vandalism, arson, murder, and rape. Soldiers and sailors often broke the law with impunity, and incidents of robbery, rape, and even murder were widely reported. Gang rapes and other sex atrocities were not infrequent; victims, shunned as outcasts, sometimes turned to prostitution in desperation, while others took their own lives to avoid bringing shame to their families. Military courts arrested relatively few soldiers for these offenses and convicted even fewer; Japanese attempts at self-defense were punished severely, and restitution for victims was rare. Fearing the worst, Japanese authorities had already prepared countermeasures against the supposed rapacity of foreign soldiers. Imperial troops in East Asia and the Pacific had behaved brutally toward women, so the government established “sexual comfort-stations” manned by geisha, bar hostesses, and prostitutes to “satisfy the lust of the Occupation forces,” as the Higashikuni Cabinet put it. A budget of 100 million yen was set aside for these Recreation and Amusement Associations, financed initially with public funds but run as private enterprises under police supervision. Through these, the government hoped to protect the daughters of the well-born and middle class by turning to lower-class women to satisfy the soldiers' sexual appetites. By the end of 1945, brothel operators had rounded up an estimated 20,000 young women and herded them into RAA establishments nationwide. Eventually, as many as 70,000 are said to have ended up in the state-run sex industry. Thankfully, as military discipline took hold and fresh troops replaced the Allied veterans responsible for the early crime wave, violence subsided and the occupier's patronising behavior and the ugly misdeeds of a lawless few were gradually overlooked. However, fraternisation was frowned upon by both sides, and segregation was practiced in principle, with the Japanese excluded from areas reserved for Allied personnel until September 1949, when MacArthur lifted virtually all restrictions on friendly association, stating that he was “establishing the same relations between occupation personnel and the Japanese population as exists between troops stationed in the United States and the American people.” In principle, the Occupation's administrative structure was highly complex. The Far Eastern Commission, based in Washington, included representatives from all 13 countries that had fought against Japan and was established in 1946 to formulate basic principles. The Allied Council for Japan was created in the same year to assist in developing and implementing surrender terms and in administering the country. It consisted of representatives from the USA, the USSR, Nationalist China, and the British Commonwealth. Although both bodies were active at first, they were largely ineffectual due to unwieldy decision-making, disagreements between the national delegations (especially the USA and USSR), and the obstructionism of General Douglas MacArthur. In practice, SCAP, the executive authority of the occupation, effectively ruled Japan from 1945 to 1952. And since it took orders only from the US government, the Occupation became primarily an American affair. The US occupation program, effectively carried out by SCAP, was revolutionary and rested on a two-pronged approach. To ensure Japan would never again become a menace to the United States or to world peace, SCAP pursued disarmament and demilitarization, with continuing control over Japan's capacity to make war. This involved destroying military supplies and installations, demobilizing more than five million Japanese soldiers, and thoroughly discrediting the military establishment. Accordingly, SCAP ordered the purge of tens of thousands of designated persons from public service positions, including accused war criminals, military officers, leaders of ultranationalist societies, leaders in the Imperial Rule Assistance Association, business leaders tied to overseas expansion, governors of former Japanese colonies, and national leaders who had steered Japan into war. In addition, MacArthur's International Military Tribunal for the Far East established a military court in Tokyo. It had jurisdiction over those charged with Class A crimes, top leaders who had planned and directed the war. Also considered were Class B charges, covering conventional war crimes, and Class C charges, covering crimes against humanity. Yet the military court in Tokyo wouldn't be the only one. More than 5,700 lower-ranking personnel were charged with conventional war crimes in separate trials convened by Australia, China, France, the Dutch East Indies, the Philippines, the United Kingdom, and the United States. Of the 5,700 Japanese individuals indicted for Class B war crimes, 984 were sentenced to death; 475 received life sentences; 2,944 were given more limited prison terms; 1,018 were acquitted; and 279 were never brought to trial or not sentenced. Among these, many, like General Ando Rikichi and Lieutenant-General Nomi Toshio, chose to commit suicide before facing prosecution. Notable cases include Lieutenant-General Tani Hisao, who was sentenced to death by the Nanjing War Crimes Tribunal for his role in the Nanjing Massacre; Lieutenant-General Sakai Takashi, who was executed in Nanjing for the murder of British and Chinese civilians during the occupation of Hong Kong. General Okamura Yasuji was convicted of war crimes by the Tribunal, yet he was immediately protected by the personal order of Nationalist leader Chiang Kai-Shek, who kept him as a military adviser for the Kuomintang. In the Manila trials, General Yamashita Tomoyuki was sentenced to death as he was in overall command during the Sook Ching massacre, the Rape of Manila, and other atrocities. Lieutenant-General Homma Masaharu was likewise executed in Manila for atrocities committed by troops under his command during the Bataan Death March. General Imamura Hitoshi was sentenced to ten years in prison, but he considered the punishment too light and even had a replica of the prison built in his garden, remaining there until his death in 1968. Lieutenant-General Kanda Masatane received a 14-year sentence for war crimes on Bougainville, though he served only four years. Lieutenant-General Adachi Hatazo was sentenced to life imprisonment for war crimes in New Guinea and subsequently committed suicide on September 10, 1947. Lieutenant-General Teshima Fusataro received three years of forced labour for using a hospital ship to transport troops. Lieutenant-General Baba Masao was sentenced to death for ordering the Sandakan Death Marches, during which over 2,200 Australian and British prisoners of war perished. Lieutenant-General Tanabe Moritake was sentenced to death by a Dutch military tribunal for unspecified war crimes. Rear-Admiral Sakaibara Shigematsu was executed in Guam for ordering the Wake Island massacre, in which 98 American civilians were murdered. Lieutenant-General Inoue Sadae was condemned to death in Guam for permitting subordinates to execute three downed American airmen captured in Palau, though his sentence was commuted to life imprisonment in 1951 and he was released in 1953. Lieutenant-General Tachibana Yoshio was sentenced to death in Guam for his role in the Chichijima Incident, in which eight American airmen were cannibalized. By mid-1945, due to the Allied naval blockade, the 25,000 Japanese troops on Chichijima had run low on supplies. However, although the daily rice ration had been reduced from 400 grams per person per day to 240 grams, the troops were not at risk of starvation. In February and March 1945, in what would later be called the Chichijima incident, Tachibana Yoshio's senior staff turned to cannibalism. Nine American airmen had escaped from their planes after being shot down during bombing raids on Chichijima, eight of whom were captured. The ninth, the only one to evade capture, was future US President George H. W. Bush, then a 20-year-old pilot. Over several months, the prisoners were executed, and reportedly by the order of Major Matoba Sueyo, their bodies were butchered by the division's medical orderlies, with the livers and other organs consumed by the senior staff, including Matoba's superior Tachibana. In the Yokohama War Crimes Trials, Lieutenant-Generals Inada Masazumi and Yokoyama Isamu were convicted for their complicity in vivisection and other human medical experiments performed at Kyushu Imperial University on downed Allied airmen. The Tokyo War Crimes Trial, which began in May 1946 and lasted two and a half years, resulted in the execution by hanging of Generals Doihara Kenji and Itagaki Seishiro, and former Prime Ministers Hirota Koki and Tojo Hideki, for war crimes, crimes against humanity, and crimes against peace, specifically for the escalation of the Pacific War and for permitting the inhumane treatment of prisoners of war. Also sentenced to death were Lieutenant-General Muto Akira for his role in the Nanjing and Manila massacres; General Kimura Heitaro for planning the war strategy in China and Southeast Asia and for laxity in preventing atrocities against prisoners of war in Burma; and General Matsui Iwane for his involvement in the Rape of Nanjing. The seven defendants who were sentenced to death were executed at Sugamo Prison in Ikebukuro on December 23, 1948. Sixteen others were sentenced to life imprisonment, including the last Field Marshal Hata Shunroku, Generals Araki Sadao, Minami Hiro, and Umezu Shojiro, Admiral Shimada Shigetaro, former Prime Ministers Hiranuma Kiichiro and Koiso Kuniaki, Marquis Kido Koichi, and Colonel Hashimoto Kingoro, a major instigator of the second Sino-Japanese War. Additionally, former Foreign Ministers Togo Shigenori and Shigemitsu Mamoru received seven- and twenty-year sentences, respectively. The Soviet Union and Chinese Communist forces also held trials of Japanese war criminals, including the Khabarovsk War Crime Trials, which tried and found guilty some members of Japan's bacteriological and chemical warfare unit known as Unit 731. However, those who surrendered to the Americans were never brought to trial, as MacArthur granted immunity to Lieutenant-General Ishii Shiro and all members of the bacteriological research units in exchange for germ-w warfare data derived from human experimentation. If you would like to learn more about what I like to call Japan's Operation Paper clip, whereupon the US grabbed many scientists from Unit 731, check out my exclusive podcast. The SCAP-turn to democratization began with the drafting of a new constitution in 1947, addressing Japan's enduring feudal social structure. In the charter, sovereignty was vested in the people, and the emperor was designated a “symbol of the state and the unity of the people, deriving his position from the will of the people in whom resides sovereign power.” Because the emperor now possessed fewer powers than European constitutional monarchs, some have gone so far as to say that Japan became “a republic in fact if not in name.” Yet the retention of the emperor was, in fact, a compromise that suited both those who wanted to preserve the essence of the nation for stability and those who demanded that the emperor system, though not necessarily the emperor, should be expunged. In line with the democratic spirit of the new constitution, the peerage was abolished and the two-chamber Diet, to which the cabinet was now responsible, became the highest organ of state. The judiciary was made independent and local autonomy was granted in vital areas of jurisdiction such as education and the police. Moreover, the constitution stipulated that “the people shall not be prevented from enjoying any of the fundamental human rights,” that they “shall be respected as individuals,” and that “their right to life, liberty, and the pursuit of happiness shall … be the supreme consideration in legislation.” Its 29 articles guaranteed basic human rights: equality, freedom from discrimination on the basis of race, creed, sex, social status or family origin, freedom of thought and freedom of religion. Finally, in its most controversial section, Article 9, the “peace clause,” Japan “renounce[d] war as a sovereign right of the nation” and vowed not to maintain any military forces and “other war potential.” To instill a thoroughly democratic ethos, reforms touched every facet of society. The dissolution of the zaibatsu decentralised economic power; the 1945 Labour Union Law and the 1946 Labour Relations Act guaranteed workers the right to collective action; the 1947 Labour Standards Law established basic working standards for men and women; and the revised Civil Code of 1948 abolished the patriarchal household and enshrined sexual equality. Reflecting core American principles, SCAP introduced a 6-3-3 schooling system, six years of compulsory elementary education, three years of junior high, and an optional three years of senior high, along with the aim of secular, locally controlled education. More crucially, ideological reform followed: censorship of feudal material in media, revision of textbooks, and prohibition of ideas glorifying war, dying for the emperor, or venerating war heroes. With women enfranchised and young people shaped to counter militarism and ultranationalism, rural Japan was transformed to undermine lingering class divisions. The land reform program provided for the purchase of all land held by absentee landlords, allowed resident landlords and owner-farmers to retain a set amount of land, and required that the remaining land be sold to the government so it could be offered to existing tenants. In 1948, amid the intensifying tensions of the Cold War that would soon culminate in the Korean War, the occupation's focus shifted from demilitarization and democratization toward economic rehabilitation and, ultimately, the remilitarization of Japan, an shift now known as the “Reverse Course.” The country was thus rebuilt as the Pacific region's primary bulwark against the spread of Communism. An Economic Stabilisation Programme was introduced, including a five-year plan to coordinate production and target capital through the Reconstruction Finance Bank. In 1949, the anti-inflationary Dodge Plan was adopted, advocating balanced budgets, fixing the exchange rate at 360 yen to the dollar, and ending broad government intervention. Additionally, the Ministry of International Trade and Industry was formed and supported the formation of conglomerates centered around banks, which encouraged the reemergence of a somewhat weakened set of zaibatsu, including Mitsui and Mitsubishi. By the end of the Occupation era, Japan was on the verge of surpassing its 1934–1936 levels of economic growth. Equally important was Japan's rearmament in alignment with American foreign policy: a National Police Reserve of about 75,000 was created with the outbreak of the Korean War; by 1952 it had expanded to 110,000 and was renamed the Self-Defense Force after the inclusion of an air force. However, the Reverse Course also facilitated the reestablishment of conservative politics and the rollback of gains made by women and the reforms of local autonomy and education. As the Occupation progressed, the Americans permitted greater Japanese initiative, and power gradually shifted from the reformers to the moderates. By 1949, the purge of the right came under review, and many who had been condemned began returning to influence, if not to the Diet, then to behind-the-scenes power. At the same time, Japanese authorities, with MacArthur's support, began purging left-wing activists. In June 1950, for example, the central office of the Japan Communist Party and the editorial board of The Red Flag were purged. The gains made by women also seemed to be reversed. Women were elected to 8% of available seats in the first lower-house election in 1946, but to only 2% in 1952, a trend not reversed until the so-called Madonna Boom of the 1980s. Although the number of women voting continued to rise, female politicisation remained more superficial than might be imagined. Women's employment also appeared little affected by labour legislation: though women formed nearly 40% of the labor force in 1952, they earned only 45% as much as men. Indeed, women's attitudes toward labor were influenced less by the new ethos of fulfilling individual potential than by traditional views of family and workplace responsibilities. In the areas of local autonomy and education, substantial modifications were made to the reforms. Because local authorities lacked sufficient power to tax, they were unable to realise their extensive powers, and, as a result, key responsibilities were transferred back to national jurisdiction. In 1951, for example, 90% of villages and towns placed their police forces under the control of the newly formed National Police Agency. Central control over education was also gradually reasserted; in 1951, the Yoshida government attempted to reintroduce ethics classes, proposed tighter central oversight of textbooks, and recommended abolishing local school board elections. By the end of the decade, all these changes had been implemented. The Soviet occupation of the Kurile Islands and the Habomai Islets was completed with Russian troops fully deployed by September 5. Immediately after the onset of the occupation, amid a climate of insecurity and fear marked by reports of sporadic rape and physical assault and widespread looting by occupying troops, an estimated 4,000 islanders fled to Hokkaido rather than face an uncertain repatriation. As Soviet forces moved in, they seized or destroyed telephone and telegraph installations and halted ship movements into and out of the islands, leaving residents without adequate food and other winter provisions. Yet, unlike Manchuria, where Japanese civilians faced widespread sexual violence and pillage, systematic violence against the civilian population on the Kuriles appears to have been exceptional. A series of military government proclamations assured islanders of safety so long as they did not resist Soviet rule and carried on normally; however, these orders also prohibited activities not explicitly authorized by the Red Army, which imposed many hardships on civilians. Residents endured harsh conditions under Soviet rule until late 1948, when Japanese repatriation out of the Kurils was completed. The Kuriles posed a special diplomatic problem, as the occupation of the southernmost islands—the Northern Territories—ignited a long-standing dispute between Tokyo and Moscow that continues to impede the normalisation of relations today. Although the Kuriles were promised to the Soviet Union in the Yalta agreement, Japan and the United States argued that this did not apply to the Northern Territories, since they were not part of the Kurile Islands. A substantial dispute regarding the status of the Kurile Islands arose between the United States and the Soviet Union during the preparation of the Treaty of San Francisco, which was intended as a permanent peace treaty between Japan and the Allied Powers of World War II. The treaty was ultimately signed by 49 nations in San Francisco on September 8, 1951, and came into force on April 28, 1952. It ended Japan's role as an imperial power, allocated compensation to Allied nations and former prisoners of war who had suffered Japanese war crimes, ended the Allied post-war occupation of Japan, and returned full sovereignty to Japan. Effectively, the document officially renounced Japan's treaty rights derived from the Boxer Protocol of 1901 and its rights to Korea, Formosa and the Pescadores, the Kurile Islands, the Spratly Islands, Antarctica, and South Sakhalin. Japan's South Seas Mandate, namely the Mariana Islands, Marshall Islands, and Caroline Islands, had already been formally revoked by the United Nations on July 18, 1947, making the United States responsible for administration of those islands under a UN trusteeship agreement that established the Trust Territory of the Pacific Islands. In turn, the Bonin, Volcano, and Ryukyu Islands were progressively restored to Japan between 1953 and 1972, along with the Senkaku Islands, which were disputed by both Communist and Nationalist China. In addition, alongside the Treaty of San Francisco, Japan and the United States signed a Security Treaty that established a long-lasting military alliance between them. Although Japan renounced its rights to the Kuriles, the U.S. State Department later clarified that “the Habomai Islands and Shikotan ... are properly part of Hokkaido and that Japan is entitled to sovereignty over them,” hence why the Soviets refused to sign the treaty. Britain and the United States agreed that territorial rights would not be granted to nations that did not sign the Treaty of San Francisco, and as a result the Kurile Islands were not formally recognized as Soviet territory. A separate peace treaty, the Treaty of Taipei (formally the Sino-Japanese Peace Treaty), was signed in Taipei on April 28, 1952 between Japan and the Kuomintang, and on June 9 of that year the Treaty of Peace Between Japan and India followed. Finally, Japan and the Soviet Union ended their formal state of war with the Soviet–Japanese Joint Declaration of 1956, though this did not settle the Kurile Islands dispute. Even after these formal steps, Japan as a nation was not in a formal state of war, and many Japanese continued to believe the war was ongoing; those who held out after the surrender came to be known as Japanese holdouts.  Captain Oba Sakae and his medical company participated in the Saipan campaign beginning on July 7, 1944, and took part in what would become the largest banzai charge of the Pacific War. After 15 hours of intense hand-to-hand combat, almost 4,300 Japanese soldiers were dead, and Oba and his men were presumed among them. In reality, however, he survived the battle and gradually assumed command of over a hundred additional soldiers. Only five men from his original unit survived the battle, two of whom died in the following months. Oba then led over 200 Japanese civilians deeper into the jungles to evade capture, organizing them into mountain caves and hidden jungle villages. When the soldiers were not assisting the civilians with survival tasks, Oba and his men continued their battle against the garrison of US Marines. He used the 1,552‑ft Mount Tapochau as their primary base, which offered an unobstructed 360-degree view of the island. From their base camp on the western slope of the mountain, Oba and his men occasionally conducted guerrilla-style raids on American positions. Due to the speed and stealth of these operations, and the Marines' frustrated attempts to find him, the Saipan Marines eventually referred to Oba as “The Fox.” Oba and his men held out on the island for 512 days, or about 16 months. On November 27, 1945, former Major-General Amo Umahachi was able to draw out some of the Japanese in hiding by singing the anthem of the Japanese infantry branch. Amo was then able to present documents from the defunct IGHQ to Oba ordering him and his 46 remaining men to surrender themselves to the Americans. On December 1, the Japanese soldiers gathered on Tapochau and sang a song of departure to the spirits of the war dead; Oba led his people out of the jungle and they presented themselves to the Marines of the 18th Anti-Aircraft Artillery Company. With great formality and commensurate dignity, Oba surrendered his sword to Lieutenant Colonel Howard G. Kirgis, and his men surrendered their arms and colors. On January 2, 1946, 20 Japanese soldiers hiding in a tunnel at Corregidor Island surrendered after learning the war had ended from a newspaper found while collecting water. In that same month, 120 Japanese were routed after a battle in the mountains 150 miles south of Manila. In April, during a seven-week campaign to clear Lubang Island, 41 more Japanese emerged from the jungle, unaware that the war had ended; however, a group of four Japanese continued to resist. In early 1947, Lieutenant Yamaguchi Ei and his band of 33 soldiers renewed fighting with the small Marine garrison on Peleliu, prompting reinforcements under Rear-Admiral Charles Pownall to be brought to the island to hunt down the guerrilla group. Along with them came former Rear-Admiral Sumikawa Michio, who ultimately convinced Yamaguchi to surrender in April after almost three years of guerrilla warfare. Also in April, seven Japanese emerged from Palawan Island and fifteen armed stragglers emerged from Luzon. In January 1948, 200 troops surrendered on Mindanao; and on May 12, the Associated Press reported that two unnamed Japanese soldiers had surrendered to civilian policemen in Guam the day before. On January 6, 1949, two former IJN soldiers, machine gunners Matsudo Rikio and Yamakage Kufuku, were discovered on Iwo Jima and surrendered peacefully. In March 1950, Private Akatsu Yūichi surrendered in the village of Looc, leaving only three Japanese still resisting on Lubang. By 1951 a group of Japanese on Anatahan Island refused to believe that the war was over and resisted every attempt by the Navy to remove them. This group was first discovered in February 1945, when several Chamorros from Saipan were sent to the island to recover the bodies of a Saipan-based B-29. The Chamorros reported that there were about thirty Japanese survivors from three ships sunk in June 1944, one of which was an Okinawan woman. Personal aggravations developed from the close confines of a small group on a small island and from tuba drinking; among the holdouts, 6 of 11 deaths were the result of violence, and one man displayed 13 knife wounds. The presence of only one woman, Higa Kazuko, caused considerable difficulty as she would transfer her affections among at least four men after each of them mysteriously disappeared, purportedly “swallowed by the waves while fishing.” According to the more sensational versions of the Anatahan tale, 11 of the 30 navy sailors stranded on the island died due to violent struggles over her affections. In July 1950, Higa went to the beach when an American vessel appeared offshore and finally asked to be removed from the island. She was taken to Saipan aboard the Miss Susie and, upon arrival, told authorities that the men on the island did not believe the war was over. As the Japanese government showed interest in the situation on Anatahan, the families of the holdouts were contacted in Japan and urged by the Navy to write letters stating that the war was over and that the holdouts should surrender. The letters were dropped by air on June 26 and ultimately convinced the holdouts to give themselves up. Thus, six years after the end of World War II, “Operation Removal” commenced from Saipan under the command of Lt. Commander James B. Johnson, USNR, aboard the Navy Tug USS Cocopa. Johnson and an interpreter went ashore by rubber boat and formally accepted the surrender on the morning of June 30, 1951. The Anatahan femme fatale story later inspired the 1953 Japanese film Anatahan and the 1998 novel Cage on the Sea. In 1953, Murata Susumu, the last holdout on Tinian, was finally captured. The next year, on May 7, Corporal Sumada Shoichi was killed in a clash with Filipino soldiers, leaving only two Japanese still resisting on Lubang. In November 1955, Seaman Kinoshita Noboru was captured in the Luzon jungle but soon after committed suicide rather than “return to Japan in defeat.” That same year, four Japanese airmen surrendered at Hollandia in Dutch New Guinea; and in 1956, nine soldiers were located and sent home from Morotai, while four men surrendered on Mindoro. In May 1960, Sergeant Ito Masashi became one of the last Japanese to surrender at Guam after the capture of his comrade Private Minagawa Bunzo, but the final surrender at Guam would come later with Sergeant Yokoi Shoichi. Sergeant Yokoi Shoichi survived in the jungles of Guam by living for years in an elaborately dug hole, subsisting on snails and lizards, a fate that, while undignified, showcased his ingenuity and resilience and earned him a warm welcome on his return to Japan. His capture was not heroic in the traditional sense: he was found half-starving by a group of villagers while foraging for shrimp in a stream, and the broader context included his awareness as early as 1952 that the war had ended. He explained that the wartime bushido code, emphasizing self-sacrifice or suicide rather than self-preservation, had left him fearing that repatriation would label him a deserter and likely lead to execution. Emerging from the jungle, Yokoi also became a vocal critic of Japan's wartime leadership, including Emperor Hirohito, which fits a view of him as a product of, and a prisoner within, his own education, military training, and the censorship and propaganda of the era. When asked by a young nephew how he survived so long on an island just a short distance from a major American airbase, he replied simply, “I was really good at hide and seek.”  That same year, Private Kozuka Kinshichi was killed in a shootout with Philippine police in October, leaving Lieutenant Onoda Hiroo still resisting on Lubang. Lieutenant Onoda Hiroo had been on Lubang since 1944, a few months before the Americans retook the Philippines. The last instructions he had received from his immediate superior ordered him to retreat to the interior of the island and harass the Allied occupying forces until the IJA eventually returned. Despite efforts by the Philippine Army, letters and newspapers left for him, radio broadcasts, and even a plea from Onoda's brother, he did not believe the war was over. On February 20, 1974, Onoda encountered a young Japanese university dropout named Suzuki Norio, who was traveling the world and had told friends that he planned to “look for Lieutenant Onoda, a panda, and the abominable snowman, in that order.” The two became friends, but Onoda stated that he was waiting for orders from one of his commanders. On March 9, 1974, Onoda went to an agreed-upon place and found a note left by Suzuki. Suzuki had brought along Onoda's former commander, Major Taniguchi, who delivered the oral orders for Onoda to surrender. Intelligence Officer 2nd Lt. Onoda Hiroo thus emerged from Lubang's jungle with his .25 caliber rifle, 500 rounds of ammunition, and several hand grenades. He surrendered 29 years after Japan's formal surrender, and 15 years after being declared legally dead in Japan. When he accepted that the war was over, he wept openly. He received a hero's welcome upon his return to Japan in 1974. The Japanese government offered him a large sum of money in back pay, which he refused. When money was pressed on him by well-wishers, he donated it to Yasukuni Shrine. Onoda was reportedly unhappy with the attention and what he saw as the withering of traditional Japanese values. He wrote No Surrender: My Thirty-Year War, a best-selling autobiography published in 1974. Yet the last Japanese to surrender would be Private Nakamura Teruo, an Amis aborigine from Formosa and a member of the Takasago Volunteers. Private Nakamura Teruo spent the tail end of World War II with a dwindling band on Morotai, repeatedly dispersing and reassembling in the jungle as they hunted for food. The group suffered continuous losses to starvation and disease, and survivors described Nakamura as highly self-sufficient. He left to live alone somewhere in the Morotai highlands between 1946 and 1947, rejoined the main group in 1950, and then disappeared again a few years later. Nakamura hinted in print that he fled into the jungle because he feared the other holdouts might murder him. He survives for decades beyond the war, eventually being found by 11 Indonesian soldiers. The emergence of an indigenous Taiwanese soldier among the search party embarrassed Japan as it sought to move past its imperial past. Many Japanese felt Nakamura deserved compensation for decades of loyalty, only to learn that his back pay for three decades of service amounted to 68,000 yen.   Nakamura's experience of peace was complex. When a journalist asked how he felt about “wasting” three decades of his life on Morotai, he replied that the years had not been wasted; he had been serving his country. Yet the country he returned to was Taiwan, and upon disembarking in Taipei in early January 1975, he learned that his wife had a son he had never met and that she had remarried a decade after his official death. Nakamura eventually lived with a daughter, and his story concluded with a bittersweet note when his wife reconsidered and reconciled with him. Several Japanese soldiers joined local Communist and insurgent groups after the war to avoid surrender. Notably, in 1956 and 1958, two soldiers returned to Japan after service in China's People's Liberation Army. Two others who defected with a larger group to the Malayan Communist Party around 1945 laid down their arms in 1989 and repatriated the next year, becoming among the last to return home. That is all for today, but fear not I will provide a few more goodies over the next few weeks. I will be releasing some of my exclusive podcast episodes from my youtube membership and patreon that are about pacific war subjects. Like I promised the first one will be on why Emperor Hirohito surrendered. Until then if you need your fix you know where to find me: eastern front week by week, fall and rise of china, echoes of war or on my Youtube membership of patreon at www.patreon.com/pacificwarchannel.

Nebraska high school football had ANOTHER top team fall in week two. Mike Sautter and Jacob Padilla discuss the TOP matchups from the past week of action on Nebraska Preps Postgame. Can ANYONE stop Elkhorn South's Jaydon Sutko, and will anyone catch up to Millard South and Omaha Westside? The Omaha Central/Omaha North rivalry heats up this week, while Class B remains WIDE OPEN. Wahoo took control in Class C1, Norfolk Catholic nearly slipped AGAIN in Class C2, and there's a new No. 1 in Class D1. 0:00 Introduction, and Welcome to Nebraska Preps Postgame!00:29 Elkhorn South Rallies to Take Down Bellevue West in Top Ten Battle02:26 Jaydon Sutko's STELLAR Performance for Elkhorn South03:20 Bellevue West Drops Second-Half Lead for Back-to-Back Weeks04:34 Jaydon Sutko's Impact for Elkhorn South05:25 Millard South DOMINATES Millard West06:30 Millard South's Underrated Defense08:01 Millard South - the BEST team in Nebraska High School Football History?09:24 Patriots' Offensive Balance and Big Play Opportunities10:22 Omaha Westside HANDLES Columbus12:01 Omaha Central Controls Omaha South Before Rivalry Game12:25 Omaha North Escapes Papillion-La Vista South13:20 Papillion-La Vista South's Grant Beckenhauer Does it ALL14:28 Previewing Omaha North/Omaha Central Rivalry15:29 Best Omaha North/Omaha Central Matchup in History?16:40 Rounding out Class A Top Ten19:38 Class B's Top Teams Handle Business20:00 Norris Football is Tired of Losing22:10 Gretna Drops to Norris Despite Strong Offensive Weapons22:58 Elkhorn North Remains at No. 1 in Class B23:25 Waverly Takes Down Tough Seward Squad24:13 Bennington Rebounds With STORNG Win Over Gretna East25:21 Gretna East Plays Without Starting Quarterback26:03 Elkhorn North's Defense STANDS OUT in Class B27:10 Scottsbluff Wins in Lincoln27:58 McCook Remains in the Top Ten29:33 Wahoo Remains the HEAD OF THE CLASS in Class C131:45 Mount Michael's HUGE Top Ten Upset in Class C132:26 Hartington Cedar Catholic Pushes to No. 2 in Class C233:04 Kearney Catholic Moves to No. 3 After Win over Ord33:23 Norfolk Catholic Drops to No. 4 Despite Win vs. Boone Central34:23 Shelby-Rising City's SECOND HALF SHUOUT Against Sandy Creek35:35 Dundy County Stratton Takes No. 1 Spot in Class D136:18 Class D1 Remaining Top Ten36:55 Jacob Padilla's Week Two SHOUTOUTS!40:15 Close, Like & Subscribe!Follow Mike Sautter on social:Youtube: https://tinyurl.com/yh7h3tjf Twitter: http://twitter.com/mikesautter_Instagram: http://instagram.com/mikesautter Tiktok: http://tiktok.com/mikesautter Follow Hurrdat Sports on social:Twitter: http://twitter.com/hurrdatsports Instagram: http://instagram.com/hurrdatsports Tiktok: http://tiktok.com/hurrdatsports Facebook: https://www.facebook.com/HurrdatSportsHurrdat Sports is a digital production platform dedicated to the new wave of sports media. From podcasting to video interviews along with live events and entertainment, we're here to change how you consume sports. Find us online at Hurrdatsports.com#nebpreps #Nebraska #NebraskaHighSchoolFootball #HighSchoolFootball #NebraskaFootball #OmahaSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

An ACTION-PACKED week one wrapped over the weekend for Nebraska high school football. Jacob Padilla and Damon Benning break down the TOP GAMES from Class A, B, and C1 in this week's Nebraska Preps Postgame. Millard South DOMINATES in Las Vegas, Omaha Westside controls Omaha North, and Omaha Central STUNS Bellevue West. Class B continues to show how close the competition is in the TOUGHEST conferences and districts. Is Ashland-Greenwood set-up for a HUGE showdown against Wahoo? 0:00 INTRODUCTION0:48 Class A High School Coaches Top Ten Poll1:22 Millard South's Impressive Las Vegas Trip05:32 Omaha Westside Takes Down Omaha North in Top Three Battle10:32 Elkhorn South Jumps to No. 311:35 Omaha Central STUNS Bellevue West on Game-Winning Field Goal15:50 Lincoln Southeast Dominates Grand Island16:22 Creighton Prep Surprises in Home Opener Over De Smet18:40 Kearney Wins at North Platte19:22 Derek Jones' Big Rushing Day for Papillion-La Vista South20:30 Millard West SHOCKS Millard North 21:50 Elkhorn North Remains at No. 1 in Class B23:25 Waverly Tops Bennington25:28 Gretna East Takes Down Gritty Seward in Top Ten Matchup26:52 Norris' SHOCKING Blowout Over Omaha Skutt Catholic28:57 Gretna Handles Elkhorn29:30 Scottsbluff and Nate Kelley Take Care of Northwest30:40 McCook Rounds Out Class B Top Ten31:11 Ashland-Greenwood Jumps to No. 3, Sets Up Top Three Matchup with Wahoo32:30 Sidney Drops to No. 5 Despite Top Ten Win at Cozad33:08 Bishop Neumann Takes Class C2's Top Spot Over Norfolk Catholic34:06 Hartington Cedar Catholic Edges Past Boone Central35:10 Stanton Drops to Bloomfield; Bees Enter Top Four36:08 Top Games to Watch in Week Two37:33 Jacob Padilla's Week One Shoutouts40:45 CLOSE - Like & Subscribe!Follow Mike Sautter on social:Youtube: https://tinyurl.com/yh7h3tjf Twitter: http://twitter.com/mikesautter_Instagram: http://instagram.com/mikesautter Tiktok: http://tiktok.com/mikesautter Follow Hurrdat Sports on social:Twitter: http://twitter.com/hurrdatsports Instagram: http://instagram.com/hurrdatsports Tiktok: http://tiktok.com/hurrdatsports Facebook: https://www.facebook.com/HurrdatSportsHurrdat Sports is a digital production platform dedicated to the new wave of sports media. From podcasting to video interviews along with live events and entertainment, we're here to change how you consume sports. Find us online at Hurrdatsports.com#nebpreps #Nebraska #NebraskaHighSchoolFootball #HighSchoolFootball #NebraskaFootball #OmahaSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Shimon Shkury, President and Founder of Ariel Property Advisors, Mike Tortorici, Founding Partner, Chris Brodhead, Senior Director, and Howard Raber, Director, unpack the findings of Ariel's Manhattan 2025 Mid- Year Commercial Real Estate Trends report. They discussed Manhattan's strong real estate performance in the first half of the year, with nearly $7 billion in dollar volume driven by the sale of exceptional Class A office, free market buildings, development sites and retail.Key Manhattan report highlights include:Investors are paying top dollar for Class A office assets because high quality tenants are seeking buildings with amenities in great locations.The recently approved Midtown South rezoning could revitalize Class B and C office stock in the area due to the potential for office-to-residential conversions.The development market saw a significant upswing with the $/BSF reaching $488 in the first half of the year, a 15% improvement over the 2024 and the highest level since 2021.Strong rental fundamentals and the below-peak basis are attracting investors to free market buildings, which saw the average $/SF at just under $800, up 4% year-over-year but 27% lower than peak values.

Michael Arnold, EVP and Founder of NAI Capital's Tenant Consulting Group, discusses tenant rep tactics, shifting lease structures, and the future of office commercial real estate.The Crexi Podcast explores various aspects of the commercial real estate industry in conversation with top CRE professionals. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate. In this episode of The Crexi Podcast, Shanti Ryle sits down with Michael, who shares, from over 29 years of experience in commercial real estate, his journey from playing professional basketball overseas to becoming a top tenant rep broker. He discusses the importance of relationships, mentorship, and a holistic approach to tenant representation. Michael delves into market trends, the impact of COVID-19 on office leasing, and the future of office spaces. Listeners will gain insights into creative problem-solving, the significance of operational efficiency, and the evolving dynamics of commercial real estate transactions. The episode offers valuable tips for young brokers and highlights the critical role of detailed analytics in making informed real estate decisions.Meet Michael Arnold: A CRE VeteranMichael's Journey into Commercial Real EstateEarly Career Challenges and SuccessesLessons from the First Year as a BrokerBuilding Relationships and Adding ValueThe Importance of Mentorship and SpecializationDay-to-Day Life of a Top BrokerAdvanced Tenant Representation StrategiesScaling a Successful Tenant Rep FirmCurrent Trends in the Office MarketComparing Manhattan and LA Real Estate MarketsThe Shift to Trophy and Class A BuildingsChallenges for Class B and C BuildingsLease Structures and AgreementsEvaluating Landlord FinancialsThe Role of Data Transparency in LeasingCreative Deal StructuresPredictions for the Office MarketAbout Michael Arnold:Michael Arnold is the Executive Vice President, Founder of the Tenant Consulting Group for NAI Capital, as well as the Vice Chairman of Elite Global Corporate Services for NAI Global. With over 29 years of experience, Michael provides a consultative and holistic approach in assisting companies address their cultural, financial and operational issues with a specific focus on reducing their real estate expenses.Michael leads the largest team of experienced tenant representation professionals in Southern California. Focused on exceeding client expectations, Michael and his team have a proven record for creative problem solving, execution processes, timely responsiveness, and attention to detail. This type of performance provides solutions for complex real estate transactions that are financially beneficial to his clients. For show notes, past guests, and more CRE content, please check out Crexi's blog. Ready to find your next CRE property? Visit Crexi and immediately browse 500,000+ available commercial properties for sale and lease. Follow Crexi:https://www.crexi.com/​ https://www.crexi.com/instagram​ https://www.crexi.com/facebook​ https://www.crexi.com/twitter​ https://www.crexi.com/linkedin​ https://www.youtube.com/crexi

No guests this week, just us, talking shop and sharing what's really going on in Miami's industrial market. We get into the story of Built World Advisors, why we're betting big on Class B warehouses in the urban core, and what we've learned building a media-meets-brokerage platform from the ground up.We also break down what's hot (and what's not) in East Hialeah, West Hialeah, Allapattah, Opa-Locka, and Golden Glades, how Cafecito Club went from a casual coffee meetup to a go-to industry event, and even make a few predictions for the year ahead. If you own, invest in, or just love Miami industrial, this episode's got insights, stories, and plenty of laughs along the way.Connect with usWant to dive deeper into Miami's commercial real estate scene? It's our favorite topic and we're always up for a good conversation. Whether you're just exploring or already making big moves, feel free to reach out at info@builtworldadvisors.com or give us a call at 305.498.9410. Prefer to connect online? Find us on LinkedIn or Instagram - we're always open to expanding the conversation. Ben Hoffman: LinkedIn Felipe Azenha: LinkedIn We extend our sincere gratitude to Büro coworking space for generously granting us the opportunity to record all our podcasts at any of their 8 convenient locations across South Florida.

Story of the Week (DR):End of summer anti-woke bro rage brigade MMNew Cracker Barrel Logo Sparks Right-Wing Backlash—From Trump Jr. And MoreMAGA erupts over Cracker Barrel logo change, and stock plungesRight-Winger, Others Call Out 'Woke' New Change To Cracker Barrel's Peg GameThe goal of the game is to whittle down the number of pegs on the board to one through a series of “jumping” pegs, not unlike checkers. Previously, directions on the game explained that people who have only one peg left on the board are geniuses, while people with two pegs left are “pretty smart.” However, if you leave three pegs, the game considers you “dumb,” while anyone who leaves four pegs is an “EG-NO-RA-MOOOSE.”That was the old game. New peg games have removed the playful insults and instead say, “leave three or more ― no reason to be embarrassed. Try again.”Sean Davis, the CEO of The Federalist: Cracker Barrel didn't just destroy its logo and restaurant vibe. It also changed the peg game to make dumb people feel better when they do poorly.Until October 2017, The Federalist had a "black crime" tag, which aggregated articles related to criminal activity by African AmericansChristian College's Hot Take On Cracker Barrel Has People Saying, ‘Huh?'Hillsdale College in Michigan: A post on its official account on X (formerly Twitter) likened the updated logo to a vandalized statue of President George Washington that was defaced during the 2020 protests over the police killing of George Floyd.MAGA Rep Drags Jesus Christ Into ‘Woke' Cracker Barrel MeltdownCongressman Byron Donalds slammed the restaurant chain for daring to rebrand after he had a religious experience in one of its Florida parking lots: “In college, I worked at @CrackerBarrel in Tallahassee,” the Florida Republican wrote on X, “I even gave my life to Christ in their parking lot. Their logo was iconic and their unique restaurants were a fixture of American culture. No one asked for this woke rebrand.”‘Cracker barrel goes woke': CEO under MAGA fire for changing logo first time in 48 years, removes ‘white guy'Steak 'n Shake slams Cracker Barrel CEO for eliminating 'old-timer' from logo: 'We take pride in our history'“This is what happens when you have a board that does not respect their historical customers or their brand.At Steak n Shake, we have gone back to basics. Our tallow fries are waiting for you. Oh yeah, you can also now pay with Bitcoin!”Entrepreneur Sardar Biglari owns Steak ‘n ShakeOwns 9.3% of Cracker barreltook control of Steak 'n Shake in August 2008 after three years of declining same-store sales and losses of $100,000 per day.Biglari controls the Steak 'n Shake Company, First Guard Insurance, Abraxas Petroleum, Maxim, Southern Oil of Louisiana, Southern Pioneer Insurance and the Western Sizzlin' corporation. Biglari was born in Iran in 1977However the chain ran into more problems in 2016 and onward, with revenue declining sharply.In 2021, Steak N' Shake made a strategic decision to transition away from casual dining and become a fast food restaurant. Steak 'n Shake replaced lunch counters with self-serve kiosks in 2021 to improve efficiency and reduce costs. Changing the service model allowed a significant reduction of store staffIn 2024, Biglari fought and lost a proxy contest with Cracker Barrel, trying to get himself and two buddies on the CB board.This marks the sixth time since 2011 that Biglari has initiated a proxy contest seeking seats on the Board (the fourth time for Sardar Biglari personally), and the seventh contested solicitation overall during that span.POP QUIZ:Was that the original logo?No. The Cracker Barrel chain opened first in 1969 and had a text-only logo. In 1977, the famous logo with a man and a barrel was introduced.Is Cracker Barrel's new-ish CEO (11/23) a man or a woman?Cracker Barrel CEO Julie Felss Masino and the new logo controversyMs. Masino previously served as the President, International of Taco Bell, a subsidiary of Yum! Brands, Inc. (NYSE: YUM) from January 2020 to June 2023. From January 2018 to December 2019, she served as President, North America of Taco Bell.“Cracker Barrel's new logo isn't an accident — it's CEO Julie Felss Masino's project. She scrapped a beloved American aesthetic and replaced it with sterile, soulless branding.”Benny Johnson said the logo change could cause the company to collapse in a similar way that Target and other stores that embraced DEI (diversity, equity and inclusion) did.‘Go woke, you go broke:' Ohio faith leaders urge Kroger to abandon LGBTQ+ policiesTrump calls on Federal Reserve Governor Lisa Cook to resignLisa DeNell Cook is an American economist who has served as a member of the Federal Reserve Board of Governors since May 23, 2022. She is the first African American woman and first woman of color to sit on the BoardCEO-to-worker pay gap surges to 632 to 1 at US's lowest-paying large firms, study shows: At 100 firms in S&P 500 with lowest median pay, executives' comp increased by average of nearly 35% over five yearsFTSE 100 CEO pay rises for third consecutive year, hitting record high CEO pay at top US companies accelerates at fastest pace in four yearsStarbucks CEO Tops List Of Sky-High Executive Pay PackagesStarbucks' CEO is ditching a merit system and giving all salaried staff a flat 2% pay raise insteadSuccession Theater: Target CEO Brian Cornell steps down after 11 years as sales continue to dropTarget's Brian Cornell to hand CEO job to Michael Fiddelke in FebruaryTarget CEO Brian Cornell will step down from the struggling retailer in February and its COO will succeed himTarget CEO Brian Cornell will step down from the struggling retailer in February and its COO will succeed himAlert: Target CEO Brian Cornell will step down from the struggling retailer in February and its COO will succeed himWhen the C.E.O. Retires but Won't Go AwayTarget is the latest company to keep a replaced chief executive around as an “executive chairman.” Does having two top dogs make sense?On August 15, 2025, following a comprehensive succession planning process, the Board of Directors (the “Board”) of Target Corporation (“Target”), appointed Michael J. Fiddelke, Target's current Executive Vice President and Chief Operating Officer, as Target's next Chief Executive Officer and a member of the Board, effective February 1, 2026. At that time, Brian C. Cornell will step down from his position as Chief Executive Officer and will continue to serve as Chair of the Board in an Executive Chair capacity.Goodliest of the Week (MM/DR):DR: Companies with climate targets have more than tripled since 2023: SBTiA total of 10,949 companies worldwide now either have near-term targets or near-term and net-zero targets, or have committed to set them, according to a report by the Science-Based Targets initiative.DR: The juxtaposition of these two headlines:Scientists Say They've Figured Out a Way to Turn Nuclear Waste Into a Powerful FuelScientists Can't Figure Out Why Just Walking In Nature Appears to Quickly Heal Your Brain RotMM: Why Shop? In Maine, the Library of Things Has It All (Almost)You can take out an electric lawn mower at the libraryMM: Lyft co-founders depart board, convert Class B shares - greatest de-dictatorship in modern history? From 30% voting power to 2% voting power as part of the conversion DRShares still worth a paltry $144mAssholiest of the Week (MM): Anti ESG is a jokeLegal definition of a fiduciary: The beneficiary has delegated authority to the fiduciary to act on its behalf;The fiduciary has discretionary powers over the beneficiary's assets or interests;The fiduciary is in a position superior to that of the beneficiary due to specialized access, knowledge or ability; andThe beneficiary trusts that the fiduciary will act in the beneficiary's best interest. (Ponet & Leib, 2011.)From Florida 2023 HB3An act relating to government and corporate activism…The board of trustees, subject to the fiduciary standards … and the requirements in s. 112.662…Which are… Notwithstanding any other law, when deciding whether to invest and when investing the assets of any retirement system or plan, only pecuniary factors may be considered and the interests of the participants and beneficiaries of the system or plan may not be subordinated to other objectives, including sacrificing investment return or undertaking additional investment risk to promote any nonpecuniary factorWhich includes… any social, political, or ideological interestsWhich applies to…Obligations of the United States or obligations guaranteed as to principal and interest by the government of the United StatesWhich makes investing in Treasury securities illegal because…White House Reportedly Launches A Scorecard Rating 500+ Companies On Trump LoyaltyThe rating system evaluates multiple factors, including social media activity, press releases, video testimonials, advertisements, participation in White House events, and other forms of engagement connected to the [One Big Beautiful Bill]Determines who they'll do business withFree speech dictatorsMeta spent $27 million protecting Mark Zuckerberg last year, more than any other CEOGoogle to Pay $36 Million in Anti-Competition FinesCoinbase CEO says he watched famous speeches to psych himself up before banning politics at the companyTrump May Further Redefine U.S. Capitalism With an Intel Move, ‘Come to America and lose $1B': Trump drives new offshore wind lossesFossil fuel “discrimination” laws prohibit discriminating against fossil fuels - there are no law to prevent “discrimination” against wind or solarHow Ownership Can Shape OutcomesHollowing out the corporate middle class MMStarbucks Sets 2% Raises for Corporate WorkersCoffee giant is in the midst of a turnaround; ‘We need to carefully manage all of our other costs'Starbucks earlier this year said it would lay off 1,100 corporate workersIn July, the company offered buyouts to corporate workers and said it would step up its in-office requirements later this year, to four days from three.From May: Starbucks and unionized baristas locked in a wage standoffNational Legal Policy Center actually filed a resolution this year demanding Starbucks produce a report detailing the human rights risks and “loss of shareholder value” if Starbucks “capitulates” to the union - union killing by SHP?Starbucks CEO Brian Niccol awarded $96 million pay package after 4 months on the jobUse of Starbucks aircraft for travel between city of primary residence and Starbucks headquarters and up to $250,000 in personal non-commuting travel per year; additional use of Starbucks aircraft for travel pursuant to Mr. Niccol's time sharing agreementHeadliniest of the WeekDR: 10 Candidates Will Vie for 4 Open Seats on USA Swimming Board of DirectorsDR: Walmart may have sold radioactive shrimp, FDA warnsMM: Silicon Valley talent keeps getting recycled, so this CEO uses a ‘moneyball' approach for uncovering hidden AI geniuses in the new era“There's different biases and filters about people's pedigree or where they came from. But if you could truly map all of that and just give credit for some people that maybe went through alternate pathways [then you can] truly stack rank,” Alex Bates, founder and CEO of AI executive recruiting platform HelloSky, told Fortune.MM: Forests in Certain Areas of the World Can Add to Global Warming I hate that headlineWho Won the Week?DR: The term “Bro IPO.” Or is it “BroPo?”MM: Damion. And it's BroPO.PredictionsDR: Target accidentally announces one of Brian COrnell's new board roles will be the Chairman of the We-Swear-It's-Not-My-Idea Task ForceMM: An analytics company somewhere realizes you can take the “moneyball” concept and apply it to people at publicly traded companies, making millions of dollars by giving investors the ability to vote for their fiduciaries by using advanced data, not voting on the fact that John is kind of cute and Leslie is a nice name.

Nebraska high school football is BACK! Mike Sautter and Jacob Padilla break down ALL of the classes for the upcoming 2025 season for Nebraska high school football on this episode of Nebraska Preps Postgame. Millard South is the returning favorite in Class A, but several teams - such as Omaha North, Omaha Westside, and Omaha Central - look to compete with the Patriots for the crown. Class B is WIDE OPEN, while Class C1 will have high-flying athletes for all ends of the state. 8-Man returning teams will have new faces in new places, but will the returning champs make repeat bids by late November? Sautter and Padilla also give a FULL PREVIEW of the best names on the top teams, and which contenders could be making the next step this season. 0:00 INTRODUCTION0:30 Class A Quarterbacks to Watch03:55 Class A Running Backs to Watch09:02 Class A Receivers to Watch11:50 Class A Defensive Players to Watch14:30 Top Contenders in Class A17:10 Top SPOILER Teams in Class A20:15 Class A's "NEXT UP" Teams21:00 Class B Quarterbacks to Watch24:26 Class B Top Rushing Players to Watch26:11 Class B Defensive Players to Watch29:20 Top Contenders in Class B - ELECTRIC Week One Matchups32:35 Class C1 Quarterbacks to Watch34:42 Class C1 Rushing Players to Watch35:45 Class C1 Receivers to Watch36:55 Class C1 Defensive Players to Watch39:15 Top Contenders in Class C141:44 Class C2 Quarterbacks to Watch42:15 Class C2 Running Backs to Watch42:40 Class C2 Receivers to Watch43:10 Class C2 Defensive Players to Watch43:58 Top Contenders in Class C247:00 Class D1 & Class D2 8-Man Football Top Contenders50:55 More NEBPreps Content Coming!54:47 CLOSE - Like & Subscribe!Follow Mike Sautter on social:Youtube: https://tinyurl.com/yh7h3tjf Twitter: http://twitter.com/mikesautter_Instagram: http://instagram.com/mikesautter Tiktok: http://tiktok.com/mikesautter Follow Hurrdat Sports on social:Twitter: http://twitter.com/hurrdatsports Instagram: http://instagram.com/hurrdatsports Tiktok: http://tiktok.com/hurrdatsports Facebook: https://www.facebook.com/HurrdatSportsHurrdat Sports is a digital production platform dedicated to the new wave of sports media. From podcasting to video interviews along with live events and entertainment, we're here to change how you consume sports. Find us online at Hurrdatsports.com#NEBPreps #NebraskaHighSchoolFootball #Football #HighSchoolFootball #NebraskaFootball #Omaha #Lincoln #Nebraska See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Fuquan Bilal's story is proof that hustle, strategy, and vision can turn obstacles into opportunities. Starting from scratch 25 years ago, Fuquan built his real estate empire during one of the toughest markets in history—the 2008 financial crisis—while others were running for cover. By mastering creative investing strategies, he transformed distressed properties into profitable assets and built a track record that's raised over $50 million in capital. As Founder of NNG Capital Fund, Fuquan helps accredited investors achieve passive income, financial freedom, and portfolio diversification through Class B multifamily properties and luxury single-family homes.Follow Fuquan

On this episode of Best Ever CRE, Joe Cornwell interviews David Hrizak, CEO of Streamline Capital Group. David shares how a near-death experience inspired him to “unretire” and co-found a vertically integrated real estate company with a focus on passive investing. He breaks down his firm's strategy of targeting medical and Class B office buildings in Phoenix for their economic resilience and value-add potential. David also dives into his team's latest ground-up development project, a high-end 70,000-square-foot music venue, and explains how investor education, tax advantages like bonus depreciation, and smart pivoting during market cycles have shaped his 29-year career. David Hrizak Current Role: CEO of Streamline Capital Group Based in: Phoenix, Arizona Say hi to them at: djh@thestreamlinecompanies.com or connect on LinkedIn at David J. Hrizak Visit investwithsunrise.com to learn more about investment opportunities.  Join the Best Ever Community  The Best Ever Community is live and growing - and we want serious commercial real estate investors like you inside. It's free to join, but you must apply and meet the criteria.  Connect with top operators, LPs, GPs, and more, get real insights, and be part of a curated network built to help you grow. Apply now at ⁠www.bestevercommunity.com⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode's Community Champion Sponsor is Ossur. To learn more about their ‘Responsible for Tomorrow' Sustainability Campaign, and how you can get involved: CLICK HEREEpisode Overview: Commercial real estate transactions can make or break a healthcare practice, yet most providers navigate these critical decisions without proper representation. Our next guest, Colin Carr, is changing that reality as CEO and founder of CARR, the nation's leading healthcare real estate advisor. With over 17 years of experience and more than a thousand completed transactions, Colin has saved healthcare providers hundreds of millions of dollars by exclusively representing their interests as tenants and buyers. Leading a team of nearly 150 experts coast-to-coast, Colin serves over 6,000 active clients ranging from solo practitioners to large private equity-backed groups. Driven by a passion to level the playing field in commercial real estate, Colin shares how CARR's strategic approach transforms what was once an unfair fight into substantial savings, time efficiency, and peace of mind. Join us to discover how proper representation can maximize profitability through real estate. Let's go!Episode Highlights:The $400,000 Wake-Up Call: Colin witnessed healthcare providers overpaying by hundreds of thousands of dollars due to lack of representation, inspiring him to launch CARR in 2009.Less Than 1% Work for Tenants: Unlike other industries, less than 1% of commercial real estate agents exclusively represent tenants and buyers, leaving healthcare providers vulnerable.Three Costly Mistakes: The biggest errors are doing it yourself, negotiating with only one landlord, and lacking strategy—mistakes that can cost $300,000-$500,000 per deal.6,000+ Active Clients Nationwide: CARR now serves over 6,000 healthcare providers across all 50 states with a team of 150+ experts, completing over 1,000 transactions.Class B Office Opportunities: Post-pandemic, the best deals are in Class B office spaces where landlords are motivated to offer higher build-out allowances and more free rent.About our Guest: Colin Carr is a commercial real estate expert who has successfully completed over a thousand commercial real estate transactions while saving his clients hundreds of millions of dollars. Colin founded and scaled CARR, a nationwide commercial real estate company, to exclusively represent the unique needs and interests of healthcare providers. He has mastered several niches in the healthcare real estate industry and is passionate about helping others “Maximize Your Profitability Through Real Estate®”. Today, CARR is the nation's leading healthcare real estate advisor with a team of almost 150 experts that span coast-to-coast. Every year, thousands of healthcare providers trust CARR to help them achieve the most favorable terms on their lease and purchase negotiations.Links Supporting This Episode: Carr Healthcare Website: CLICK HERECarr Healthcare LinkedIn page: CLICK HEREMike Biselli LinkedIn page: CLICK HEREMike Biselli Twitter page: CLICK HEREVisit our website: CLICK...

DAMION1In our 'Treaty Talks Begin With Bold New Commitment to Avoid Commitment: Delegates agree to form a task force to consider considering action and then unite to Say 'Plastic Is Bad'—Then Go Back to Their Plastic-Filled Hotels' headline of the week. Here's what to watch for at this month's global plastics treaty talksNegotiators from more than 170 countries are arriving in Geneva, Switzerland, this week to resume discussions over the United Nations plastics treaty, eight months after they missed their original deadline for finalizing the pact. Many delegates, advocacy groups, and U.N. officials are hopeful that the 10-day session will result in a final agreement that delivers on the U.N.'s objective to “end plastic pollution.” But progress has been slow at each of the five preceding sessions, in large part due to a consensus-based decision-making structure that has allowed oil-producing countries to obstruct progress. In our 'Hey Ma, the dude who got his BA at Haverford College which costs $93,600 and received his JD from Stanford is mansplaining about elite colleges, can you grab my water bottle and my red lawn chair?!' headline of the week. Palantir CEO Alex Karp takes a shot at elite colleges and says the company offers 'a new credential independent of class In our 'It's better off helping people without formal biology expertise design or recreate biological threats like toxins or pathogens' headline of the week. OpenAI says ChatGPT shouldn't tell you to break up with someone In our 'What an asshole! The next thing he'll probably do is call out other banks for breaking their climate pledges ' headline of the week. Banking CEO breaks from the pack on return to office. He goes in 4 days a week but leaves the rest up to the ‘adults' he works withStandard Chartered CEO Bill Winters In our 'Citizen Journalist Robbie Starbuck and The National Legal and Policy Center prepare shareholder proposal calling out Microsoft and asking “What about MEN'S ovaries? This is woke biology gone too far.”' headline of the week. Gates Foundation is giving $2.5 billion to fund women's health researchMATT1In our '8Ks revealed that Charlie Scharf, Wells Fargo's CEO, was awarded $30m to open his mindspace, Steven Hemsley at UnitedHealth was given $60M to center his chi, and Goldman's CEO DJ DSol got $80m to attune his crystals and align his money aura.' headline of the week. Tesla Grants Musk $29 Billion in Stock to Keep ‘Elon's Energies Focused'In our 'Specifically, the part where they ran someone over' headline of the week. Jury Says Tesla Was Partly to Blame for Fatal CrashIn our 'Reports suggested the awning was made of cybertruck trim, the tables were actually crashed robotaxis, and the chicken wings were made from old Nazi bathroom graffiti' headline of the week. Tesla Diner Patio Covering Collapses, Smashes Mother on Head and Barely Misses BabyIn our 'Retention awards for "continued leadership"? Or pay for focus? Pay to show up? Pay for "energy"? Relocation pay for my sister's cousin's condo in Ottawa? ' headline of the week. 2025 CEO PrioritiesAdapt to changing external environments and regulatory landscapeManage growth and investment amid current fiscal outlookCreate a resilient supply chainAccess to talent and workforceArticulate a vision for an AI and tech-enabled enterprisesEmbrace opportunities for personalized consumer experiencesUnderstand the changing environmental challengesShape the leadership teamArticulate Vision and strategy, and tell your story as a leaderDrive performanceEnsure proper governance processesCollaborate with the boardOptimize organizational structureAlign communicationsSatisfy shareholders and stakeholdersBuild the cultureNavigate geopolitical uncertaintyIn our 'If you can't tell your kid with a fever of 102 to suck it up and fuck off, maybe this company isn't for you' headline of the week. 5 things the AT&T CEO's sweeping memo says about where corporate America is headedHis name is John Stankey"If a self-directed, virtual, or hybrid work schedule is essential for you to manage your career aspirations and life challenges, you will have a difficult time aligning your priorities with those of the company and the culture we aim to establish," Stankey wrote.DAMION2In our 'I refuse to celebrate until we reach 7.3%' headline of the week. The share of female CEOs running Global 500 companies hits a record high of 6.6% In our 'Houston American Energy Corp. announces that finally the phrase “Let's hear what she thinks” can be said in the boardroom without an immediately ironic chuckle, now it can be an authentic condescending chuckle' headline of the week. Houston American Energy Corp. Appoints Martha J. Crawford to Board of DirectorsIn our 'Great, when he's done creating a practical application of cold fusion, could he explain why anyone would buy a Cybertuck, have him finish my daughter's algebra homework, and then share the wisdom behind Intel's stock price being down 22% from the day he started as Intel CEO?' headline of the week. Jim Cramer on Intel CEO: “He Totally Understands Everything” In our 'After a nice brunch, they went to the aquarium and then to a poetry reading' headline of the week. Mary McDowell Joins Zebra Technologies Board of Directors In our 'They named him Peter Semple, after their great grandfather, and then chained him to his desk ' headline of the week. Depop names permanent CEOMATT2 In our 'US companies give investors a break from voting NO on every shareholder proposal this year' headline of the week. US companies deny record number of shareholder votesAverage vote for ESG proposal: 20%. Average vote against ESG proposal: 80%.In our 'Please don't say suicidal ideation, aggression, reality detachment, and hallucinations, please don't say suicidal ideation, aggression, reality detachment, and hallucinations, please don't say suicidal ideation, aggression, reality detachment, and hallucinations...' headline of the week. A New Paper Just Found Something Horrifying About Kids Who Get Phones Early in LifeChief scientist Tara Thiagarajan found that among the more than 100,000 18-to-24-year-olds whose outcomes they tracked, those who got phones when they were younger experienced more suicidal ideation, aggression, reality detachment, and hallucinations as they aged.In our 'Man leaves gym and goes to Wendy's to get fit' headline of the week. Barclays leaves Net Zero Banking Alliance to combat climate changeIf you want to prove your commitment to transitioning Barclays, feel free to use our data to vote out every director that underperforms on climate!In our 'Olive Garden appoints car mechanic as executive chef' headline of the week. Harley-Davidson board appoints Topgolf executive as next CEOArtie Starrs has been golf CEO, Pizza Hut CEO, is on a non profit board that helps underprivileged children, got an economics degree from Princeton, and he enjoys hiking, playing golf, listening to live music. He sounds exactly like someone who rides a Harley.In our 'SOMEONE IS ACTUALLY FIGHTING. And of course it's a female founder.' headline of the week. A long-running anti-DEI lawsuit could help companies defend themselves from reverse-racism claimsElizabeth Gore of Hello Alice is fighting Stephen Miller's AFL lawsuit brought on behalf of a white trucker in Ohio who says they didn't get a shot at a grant that went to someone black - and Gore is winning because it's all a fucking jokeMeanwhile, Brown, Harvard, Colombia and the high priced Ivies are folding like cowardsReach out to Hello Alice or Gore, offer help or support, join the service, because somewhere there is someone fighting bullshitFigma IPO QUIZThe Figma IPOFigma founder and CEO Dylan FieldWhat percentage of shares does he actually own in the company?17%What is total voting power?74%How many votes per share are magical Class B shares worth?15 votes per shareWhat percentage of Class B shares does Dylan control?99%There are 5 executive officers and 10 directors, how many are women?2 (directors)Who is the chair of the Figma board?CEO and founder and controlling shareholder Dylan FieldHow many friendships with Peter Thiel does Dylan Field have?1How many college degrees does Dylan Field have?0Where did Dylan Field drop out of?BrownWho paid Dylan Field to drop out of college?Peter ThielIn addition to his shareholdings, how much is Dylan Field due to receive if the stock price hits $130 (it already was over $124)$2B in equityWhich CEO's pay package was Dylan Field's pay package modeled after?Elon MuskHow many years does Dylan Field have to reach that stock price hurdle?10How old is this very rich college dropout?33In response to a question about how he was going to change the world, what did Dylan Field say?He was going to build better software for drones.Then I'm guessing Figma must truly benefit humanity if this guy is so rich, what does Figma do exactly?Figma is a collaborative web application for interface design, with additional offline features enabled by desktop applications for macOS and Windows. The feature set of Figma focuses on user interface and user experience design, with an emphasis on real-time collaboration,[3] utilizing a variety of vector graphics editor and prototyping tools.

Season 3, Episode 9: Craig Deitelzweig is redefining office real estate—one scent, doorman, and house car at a time. In this episode, the CEO of Marx Realty shares how he's leading the hotelization of office buildings—and why most landlords are stuck in the past. From signature scents and concierge-level service to rooftop lounges and Porsche house cars, Craig explains how his team is turning tired Class B assets into high-demand, high-rent destinations. TOPICS 00:00 – Alec Baldwin and Barber Chair Banter 02:00 – From Lawyer to CEO: Craig's Path to Marx Realty 07:15 – 10 Grand Central: Turning a Drag Into a Destination 14:00 – House Cars, Gelato, and Hospitality That Converts 19:00 – How Amenities Deliver ROI (and Surprise Revenue) 23:00 – Baccarat Branding and the “Club” Office Experience 28:00 – Midtown's Strength vs Downtown's Struggles 33:00 – DC's Turnaround and What It Means for CRE 42:00 – Retail Expansion and What's Powering It 48:00 – Capital Markets Outlook and the Return of LPs Shoutout to our sponsor, InvestNext. One platform to raise and manage capital for real estate investment. For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/ Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily About No Cap Podcast Commercial real estate is a $20 trillion industry and a force that shapes America's economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry's biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate. About CRE Daily  CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.

In this episode of the Tech On Demand podcast, brought to you by GrowerTalks, host Bill Calkins sat down with SePRO's Technical Development Manager (and PestTalks e-newsletter editor) JC Chong to discuss plant growth regulators. PGRs are critical for greenhouse professionals but really haven't been covered much on the podcast. Now's the time! JC and Bill start off with a conversation about what PGRs are and what they do before jumping into a few specific products, including SePRO's Topflor and A-Rest. Topflor is a gibberellic acid biosynthesis inhibitor (Class B)—active ingredient Flurprimidol. It offers some unique benefits in production, which JC covers in an informational way. JC outlines crops that respond particularly well (and some that don't) and what you can expect from crops treated with the product. JC also explains some of the more common rates and application methods and a handy tool from SePRO to take a lot of the guesswork out of PGR application. JC is a researcher and has worked with the SePRO team and growers across North America to better use PGRs to achieve a variety of goals and has a lot of practical information to share. You'll want to listen all the way to the end of this episode because when Bill and JC chat, you never know what to expect! WATCH THE VIDEO VERSION! Subscribe to JC's PestTalks e-newsletter Resources: Topflor Product Overview A-Rest Product Overview SePRO PGR Selection Guide SePRO Horticultural Resources & Technical Contact

Still following outdated investing advice?This week, Gary is joined by Lane Kawaoka, author of The Wealth Elevator, real estate syndication leader, and founder of SimplePassiveCashflow.com. With over 10,000 units under management, Lane shares how he went from civil engineer to full-time passive income expert—revealing why single-family rentals won't scale, the importance of knowing your “floor” in the wealth journey, and how professionals can create cash flow without becoming landlords. This episode is your wake-up call to start investing smarter—not harder.

David Hrizak is a veteran real estate investor and co-founder of Streamline Capital Group, where he helps high-earning professionals—such as physicians, professional athletes, and entrepreneurs—build passive, tax-efficient income through strategic investments in medical office and Class B commercial properties.With nearly 30 years of experience spanning brokerage, development, construction, and fund management, David offers a rare, full-spectrum perspective on commercial real estate. His deep industry knowledge and strategic approach make him a powerful ally in the pursuit of long-term wealth.After retiring in 2022, David realized that his greatest fulfillment didn't come from closing another deal—but from helping others reclaim their time, reduce their tax burden, and achieve true financial independence through real estate.Today, David serves as a trusted advisor to professionals ready to take control of their financial future. He excels at breaking down complex investment strategies into simple, actionable steps—so clients can invest with confidence, without having to become real estate experts themselves.Through his work, David empowers others to preserve more of what they earn, grow wealth with clarity, and create a lasting legacy—without the hassle of active management.

Area law-enforcement agencies have reported the following recent activity: Editor's Note: All individuals arrested and charged are presumed innocent until proven guilty in a court of law beyond a reasonable doubt. Texas Department of Public Safety •July 17, Shaun M. Smith, 44, of Floresville was arrested at the intersection of F.M. 539 and C.R. 304 near Floresville and charged with driving while intoxicated third or more offense, driving with an invalid license — Class B misdemeanor, and duty on striking a fixture or highway landscaping valued at greater than or equal to 0. Floresville Police Department •July 17, Johannett Barreto...Article Link

On this segment of "Real Talk", the Ring Gang recap the fight between Jesse Bam Rodriguez vs Phumelela Cafu 

On this segment of "Real Talk", the Ring Gang recap the fight between Jesse Bam Rodriguez vs Phumelela Cafu

Mike Watts, CBRE's president of investor leasing in the Americas, was a guest on the latest episode of the REIT Report. Watts focused on trends in office supply and leasing, the impact of office conversions, tenant expectations toward amenities, and more. Watts noted that CBRE expects new office deliveries in 2025 to be about 25% of what they were in 2019. Office deliveries are not expected to pick up in 2026 either. Lack of new construction at the top of the office market creates a ripple effect as demand shifts to lower tier assets. Class B office assets still retain appeal for certain office tenants, he pointed out. Meanwhile, Watts described the tenant experience as “more important than ever,” with companies keen to create a positive work environment for all levels of employees, rather than just senior level staff. Also important today is the concept of “how the building meets the street,” he said, namely access to retail that meets the specific needs of tenants and that encourages companies to renew their leases.

Send us a textWhat if the next game-changing amenity in office design isn't a rooftop lounge or wellness room—but data? In this episode, we talk with Peter Choi, Design Principal at HOK, who challenges us to rethink the very systems that power our built environment. As AI, edge computing, and digital speed reshape how we live and work, Choi makes a compelling case for treating data infrastructure like we treat daylight—essential, embedded, and experience-defining.We explore how this invisible layer could unlock new design opportunities, from reinventing Class B buildings to enabling more responsive, human-centered workplaces. If buildings are stories we tell about our values, then this conversation asks: what does it mean to design for a world where connection is everything? It's a provocative look at the future of placemaking in the digital age.

Season 3, Episode 6: Andy Weiner, CEO of RockStep Capital, joins the show to explain why the retail apocalypse was overhyped and how his firm is turning overlooked malls into long-term cash-flow plays. With 50+ shopping centers under management, Andy walks through the real risks, the CMBS fallout, and why Class B markets still offer upside, if you know how to operate. We discuss: – Why “retail is dead” doesn't hold up in the data – The problem with chasing national tenants – How to convert retail boxes into healthcare and entertainment – Why CMBS debt caused lasting damage to retail. TOPICS 00:00 – Cold Open and Retail Misconceptions 02:20 – Andy's Path and RockStep's Strategy 07:00 – The Retail Apocalypse Was Overblown 10:30 – Picking Markets and Making Malls Work 15:45 – Why Big Boxes Can Hurt NOI 20:10 – CMBS Mistakes and Risk Discipline 26:00 – Repurposing Retail Into Healthcare and Entertainment 32:00 – Leasing Timelines and Tenant Credit Today 37:50 – Anchor Replacements and Nontraditional Uses 44:30 – Pricing Gaps, Cap Rates, and Lender Pullback 50:00 – What's Next for Retail in 2025 Shoutout to our sponsor, InvestNext. One platform to raise and manage capital for real estate investment. For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/ Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily About No Cap Podcast Commercial real estate is a $20 trillion industry and a force that shapes America's economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry's biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate. About CRE Daily  CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.

Crush your 2025 NFL fantasy football Drafts!

DAMIONThe next phase of Starbucks' turnaround plan is offering executives up to $6 million in stock grants, as baristas scrap to get annual raises above 2%Starbucks will reward company executives with up to $6 million in stock grants should they effectively fulfill cost-saving and timely rollout goals of the company's “Back to Starbucks” turnaround strategy. Starbucks Workers United representatives dubbed the move “ridiculous and irresponsible” amid contract negotiations over barista wages.WHO DO YOU BLAME?Double boomerang CEO and founder Howard Schultz1987-2000; 2008-2017; 2022-2023CEO and Chair Brian Niccol and his $113 million golden hello packageThe company's work-from-home policy which allows its CEO to work remotely from his home in Newport Beach, California, while the company's headquarters are in Seattle, Washington. As part of his employment agreement, Starbucks pays for him to travel between his home and the Seattle headquarters on the company's private jet.Former failure Yahoo! CEO Marissa Mayer who was appointed as a director to Starbucks 4 days before the announcement of the new retention awards. Compensation Committee chair Ritch Allison: The guy passes every pay plan for whoever; is the former CEO of Domino's Pizza so is here to enrich executives; and owns $3M is SBUX stock so doesn't really care: someone should be responsible for a CEO pay ratio of 6666:1Agios Appoints Dr. Jay Backstrom to Board of DirectorsJay Backstrom appointed as Class III director as of July 8, 2025, 20 days after the company held an election to appoint two Class III directors.WHO DO YOU BLAME?The top 4 institutional investors (35% of voting power):Farallon Capital 10% Vanguard 10%BlackRock 9% BB Biotech 6%The company's childish bylaws which separate directors into three classes that are voted on every three yearsFormer CEO Jacqualyn Fouse (23%) who stuck around to serve as board chair after being CEO for only 3 yearsNominating Committee chair and Lead independent director Kaye FosterEmasculated CEO Brian GOff (15%) who presides over a board with a +7% gender influence gapAn anti-DEI investment firm postponed its Tesla ETF, saying Elon Musk has 'gone too far' by launching a political partyWHO DO YOU BLAME?Its BS mission statement: “Azoria is an investment firm with the mission of compounding capital for investors through a commitment to free thinking, excellence, and meritocracy.”Wouldn't that include Elon?James T. Fishback, Founder and CEO of Azoria, a free-thinking investment firm“We have an anti-American subculture that cancels the science fair in favor of drag queen story hour, forces colleges to spend more time teaching micro-aggressions than microbiology, and teaches kids in America that Cardi B is a role model and Thomas Jefferson is a racist.”“Fishback will become a major Gen Z star in our pro-American movement.” — Vivek Ramaswamy, 2024 Presidential Candidate.“dropped out of Georgetown University to establish a hedge fund at 21 years old”Azoria partner Sol Ehrlich:“For my last day at Spectra, it's important that I share just how much this opportunity has meant to me. In June of 2023, I was a 28 year old mediocre Euro League baseball player with no job prospects outside of coaching. My only qualification to work in finance was my work ethic, which Brent Donnelly recognized when he met with me over Zoom and saw the litany of Post-It tabs I used to annotate his book”“It's with great excitement that I'll be taking this skillset to Azoria as a partner and its Head Trader- an opportunity I couldn't have imagined 18 months ago.”While the internet was introduced to James Fishback's talents this year, I've been aware of them since 2009 when we competed against each other in high school debate. (His meme game was A+ even then- I still remember him closing a speech on U.S. sanctions with 4 Russian leader puns.)”Me. Because somehow I'm connected to Fishback on linkedin.Greenlight Capital, for making James angry:In a lawsuit: “Greenlight Capital says James Fishback is a liar. The 29-year-old hedge fund manager and former employee, contrary to his own proclamations, was never “head of macro” at Greenlight, never had any “authority or discretion” over investments, and certainly wasn't responsible for an “insane” $100 million in profits as a mere research analyst. In fact, his contributions were so not “insane” that the hedge fund was about to fire him before he chose to leave of his own accord.”Greenlight's alleged former head of macro is hoping to get at least $5 million from David Einhorn, claiming age discrimination"Mr. Einhorn dismissively told Mr. Fishback that his compensation was 'a lot of money for a kid,'" the filing states, and Fishback argues the comment "demonstrates that Defendants' decision about Mr. Fishback's compensation was driven largely by his age — a protected characteristic."Tech founders call on Sequoia Capital to denounce VC Shaun Maguire's Mamdani commentsMaguire, an outspoken supporter of President Trump, posted on X over the weekend that Democratic mayoral candidate Zohran Mamdani “comes from a culture that lies about everything.”WHO DO YOU BLAME?Shaun Maguire: “My whole life I've sought out people that I think are really talented but a little bit off the radar.”Shaun Maguire: “[E]ven more important to me is someone that's just irrationally motivated. For whatever reason, it's their life mission to try to revolutionize the industry they're going after.”Shaun Maguire: “Should I go public with the story about the time I was told I can't be promoted for being a white man? Fuck it, This happened at Google. That company is an absolute trash can dumspeter fire.”Sequoia Capital: for proudly endorsing some of its most insipid founders: Sam Altman, Elon Musk, Vlad Tenev (Robinhood, online betting on stocks), Keller Rinaudo (Zipline, autonomous delivery), Winston Weinberg (Harvey, AI for lawfirms), Brian Chesky (Airbnb, rent killer)MATTForward Air, after their AGM battle with Ancora, still hasn't released their 8K after a MONTH despite Ancora announcing it was a “landslide” directly afterWHO DO YOU BLAME for not releasing an 8k?Charles Anderson, Robert Edwards Jr, Michael Hodge who own roughly 25% of the voting power, even if FF data doesn't properly show them as having all the influence on the boardAncora, who just couldn't help but IMMEDIATELY put out a press release stating: “Absent the more than 30% of shares that were legally committed to vote for the incumbent Board, Chairman George Mayes, Jr., Javier Polit, and Laurie Tucker lost in a landslide, highlighting the substantial level of concern regarding the legitimacy of the Board's strategic review. We believe the resignations of these legacy directors will empower the Board to carry out a thorough assessment of value-maximizing opportunities.”Christine Gorjanc, chair of the audit committee, who was chair of the audit committee at Invitae from 2015 to 2024 when it declared bankruptcy despite getting her degree in accounting and a MS in “taxation”Michael L. Hance, chief counsel who also holds a masters in Divinity, who couldn't find the “submit” button on his iPhoneNo, Carnival Cruises is not banning rap musicCarnival Cruise Lines denied reports circulating online that DJs aren't playing hip-hop.The cruise line has responded to claims circulating online that DJs aren't including hip-hop music in their sets or honoring song requests, with some social media users saying the alleged move is racially motivated.WHO DO YOU BLAME for this malicious rumor?Carnival's ZERO BLACK leadership team, lead by Mickey Arison - they do have two Hispanic men, Enrique Miguez (General Counsel) and Gustavo Antorcha (President of Princess Cruises), but it's balanced out by the Scandinavian (Lars Ljoen, Chief Maritime Officer) and other Euro men (Felix Eichhorn, Paul Ludlow)Carnival's Board of Directors, which has 11 members and is 91% white, with one black woman, Nelda Connors. Nelda's background is in hydraulics and metals with a degree in mechanical engineering, so she's probably too “nerdy” for rap anywayChristine Duffy, the head of Carnival Cruises, whose prior role was President of the Cruise Lines International Association which put out a report in 2008 showing that 93% of cruise passengers were white, and in 2025 said that 1 in 4 passengers came from either Texas or Florida. Duffy grew up in Northwood Philadelphia, which in 1950 was three quarters white but by 2020 is 93% black.Thinking hip hop is “black music”DAMIONPeople are boycotting Etsy over ‘Alligator Alcatraz' merchCalls to boycott Etsy are growing since “Alligator Alcatraz” merch popped up on its marketplace. The term refers to the Trump administration's new migrant detention facility in the Florida Everglades.WHO DO YOU BLAME?The 48% influence duo: CEO Josh Silverman (25%) and longest-tenured director (2007): Board Chair and Nominating Committee chair Fred Wilson (23%)The -13% gender influence gap at a company where: “approximately 80% of Etsy's buyers and sellers are women.Leadership is 6 men and 2 women, one of who is CHROThe company's dumb classified board structureThis year's 3 directors: 24%, 28%, 22% againstTokens to Access Private Companies, or to Investor Trouble?Robinhood is the latest to offer investors a novel, and potentially risky, investment opportunity: crypto that's meant to give exposure to the likes of OpenAI.WHO DO YOU BLAME?CEO/founder/Chair Vladimir Tenev: 47% influence; 24% voting power Baiju Bhatt: 37% influence; 36% voting powerThe pesky Class B share: for being worth ten votes per shareThe non-democratic Founders' Voting Agreement: Our Co-Founders have agreed: “to vote all of their shares in favor of the election of each Co-Founder”Lead Independent Director Jonathan Rubinstein: for being the most pointless Lead Independent Director of all time: Lead Independent Director at Robinhood since 2021 and Lead Independent Director at Amazon.com from 2017-2023OpenAI Says It's Hired a Forensic Psychiatrist as Its Users Keep Sliding Into Mental Health Crises"We're developing ways to scientifically measure how ChatGPT's behavior might affect people emotionally."WHO DO YOU BLAME?Sam AltmanBret Taylor (Chair)Sam AltmanMatt: AI itself for being a jerk

In today's episode of Zen and the Art of Real Estate Investing, Jonathan sits down with Austin Masket, founder and Chief Investment Officer of Riverly Capital. With a background as a commercial broker and portfolio manager for a family office, Austin brings a seasoned and data-driven approach to multifamily investing and distressed debt acquisition. His firm focuses on creating risk-adjusted, tax-advantaged returns in key U.S. markets like Denver, Atlanta, and Phoenix. Austin's early exposure to real estate came from his family, but his professional foundation was shaped at Marcus & Millichap. That experience gave him direct access to institutional-level underwriting, which later informed his strategy as a portfolio manager. Now at Riverly Capital, he specializes in acquiring multifamily assets and distressed debt with a sharp eye on entry point, tenant demographics, and economic cycles. Jonathan and Austin break down how missteps in the last economic cycle, especially during the COVID-era boom, created today's distressed opportunities. They discuss the mismatch between cap rates and interest rates, why overleveraged syndications are struggling, and how Austin's team identifies assets with true upside. Austin explains how Riverly uses deal-by-deal capital raising to maintain discipline, and why chasing volume can lead to trouble. The episode also explores Austin's outlook for the next market cycle. He walks through supply and demand imbalances, the coming drop in new construction deliveries, and how strategic acquisition of non-performing debt offers a short-term window for experienced investors. For those focused on buying right and building durable returns, this conversation highlights the benefits of in-depth analysis, patient capital, and understanding where the market is headed, not just where it has been. In this episode, you will hear: Lessons Austin Masket carried over from brokerage into asset management The mechanics behind acquiring and working out distressed debt How overleveraged deals from the COVID boom are unraveling The appeal of Class B and C multifamily assets in today's market Entry strategies that favor strong tenant bases and proven demand Why patient capital and disciplined underwriting lead to stronger returns What makes debt acquisition a strategic move in a tightening cycle Follow and Review: We'd love for you to follow us if you haven't yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Riverly Capital website - riverlycap.com Riverly Capital on Facebook - www.facebook.com/profile.php?id=61573078168565 Connect with Austin Masket on LinkedIn - www.linkedin.com/in/austin-masket1 Website - www.streamlined.properties YouTube - www.youtube.com/c/JonathanGreeneRE/videos Instagram - www.instagram.com/trustgreene Instagram - www.instagram.com/streamlinedproperties TikTok - www.tiktok.com/@trustgreene Zillow - www.zillow.com/profile/StreamlinedReal Bigger Pockets - www.biggerpockets.com/users/TrustGreene Facebook - www.facebook.com/streamlinedproperties Email - info@streamlined.properties Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.

For more Rogan exclusives support us on Patreon patreon.com/JREReview This week on the show, we unpack the surreal situation unfolding in Austin: fitness influencer Brian “Liver King” Johnson was arrested on June 24, 2025, after flying into the city wearing his signature wolf headdress and igniting a series of bizarre Instagram rants in which he challenged Joe Rogan to a fight—even brandishing what appeared to be firearms reddit.comnewsweek.com+15houstonchronicle.com+15expressnews.com+15. Rogan, alarmed by the threats, contacted Austin police, describing Johnson as “significantly unstable” and referencing concerns of a “significant drug issue” ksat.com+10the-independent.com+10nypost.com+10. Johnson was arrested at the Four Seasons Hotel and booked on a Class B misdemeanor for making terroristic threats nypost.com+12mmafighting.com+12tmz.com+12. The Travis County judge set bond at $20,000, along with strict release conditions: no contact with Rogan or his family, a 200‑yard restraining order, no firearms, and a mandated mental health evaluation within one week vulture.com+8tmz.com+8houstonchronicle.com+8. Since his release, Johnson has resumed posting rambling videos—some hinting he might be targeting “some guy” rather than Rogan—but he continues to post disturbing and erratic content from Austin expressnews.com+14the-independent.com+14nypost.com+14. Known for promoting a raw-organ “ancestral” lifestyle, Johnson was already mired in controversy after admitting in 2022 that his hulking physique was maintained via $11,000/month steroids and HGH—a sharp contrast to his "natural" image reddit.com+7thedailybeast.com+7en.wikipedia.org+7. In this episode we'll explore: The timeline leading up to Johnson's shocking arrival in Austin and heated Instagram monologues. The role Rogan played in alerting authorities and voicing concern. The potential mental health and substance abuse issues fueling Johnson's breakdown. What this all means for his public persona, supplement empire, and the broader conversation around influencer culture. Bottom line: We sincerely hope Brian “Liver King” Johnson finds the help he desperately needs. Whatever drove him to this brink, it's clear this isn't just a publicity stunt—it's a cry for help. Our wish is for his recovery, clarity, and that he finds the support necessary to get well.   www.JREreview.com For all marketing questions and inquiries: JRERmarketing@gmail.com Follow me on Instagram at www.instagram.com/joeroganexperiencereview Please email us here with any suggestions, comments and questions for future shows.. Joeroganexperiencereview@gmail.com

Navigating Risk, Noise, and Uncertainty: Barry Ritholtz on Investing in a Volatile World   In my conversation with Barry Ritholtz, chairman of Ritholtz Wealth Management and host of Bloomberg's “Masters in Business” podcast, we explored market and real estate cycles, caution, and capital allocation in today's increasingly unpredictable economic environment. Below are the most actionable and provocative takeaways for real estate investors, both passive and professional, drawn from Barry's decades of lessons and market observations.   Origins of Insight: From Blog to Bloomberg Ritholtz didn't set out to run a multi-billion-dollar firm. What started as daily trading notes eventually evolved into a blog, a book, Bailout Nation, and a platform that positioned him to correctly call both the top and bottom of the 2008 financial crisis. This journey, grounded in curiosity and behavioral finance, shaped the contrarian and data-driven approach he still employs today.   "I just wanted to know why some people made money while others didn't doing the same thing."   The 2008 Playbook: Behavioral Edge Over Economic Models Ritholtz attributes his early warning of the Global Financial Crisis (GFC) to non-traditional thinking and real estate roots (his mother was a real estate agent). Observing abnormal refinancing activity and "cash-out mania" led him to investigate securitized debt and derivative risk, well before it was mainstream.   He reverse-engineered risk from Reinhart & Rogoff's crisis research and famously predicted the Dow's decline to ~6,800—earning mockery initially, then vindication.   Echoes of 2008? Why This Time Feels Precarious While he stops short of predicting a crisis, Ritholtz allows for a 10–15% probability of a self-inflicted depression – a worst-case scenario rooted not in structural weakness, but political mismanagement.   “It [is an] asymmetrical risk to take one bullet, put it in a six shooter, spin the wheel, and put it up against your head with a $28 trillion economy.”   From tariffs to immigration policy to fiscal gamesmanship, Ritholtz sees signs that the U.S. may be eroding the long-standing trust that underpins reserve currency status and global capital flows.   Cash Isn't a Plan, Discipline Is When asked whether it makes sense to sit in cash and wait out the next downturn, Ritholtz counters with behavioral caution. Historically, those who “go to cash” rarely reenter at the right time and often miss the rebound entirely.   “If you're going to sit out in cash, do you have the temperament, the discipline to get back in?” Instead, he recommends building resilience: modest leverage, long-term focus, and capital efficiency – hallmarks of legends like Sam Zell, who Ritholtz holds up as a model of disciplined real estate investing.   A Word on Leverage: Use with Extreme Care High leverage is the common thread in stories of ruin. Ritholtz referenced the downfall of the Peloton CEO, who borrowed heavily against inflated stock. The same caution applies to over-leveraged real estate investors, especially those who haven't endured a full cycle.   “Market crashes are where capital returns to its rightful owners.”   For CRE sponsors, now is the time to refinance where possible, preserve cash, and maintain flexibility, even if that means lower IRR projections.   How to Filter the Noise: Create an Information Diet Ritholtz emphasized the need to tune out “financial candy from strangers” – the firehose of social media, Substacks, and hot takes by unvetted commentators.   “They don't know your zip code, your goals, your tax bracket. Why would you trust them?” He recommends identifying a shortlist of credible voices with defined, rational processes and a record of sound judgment. “Build your A-Team,” he advises. “Then ignore the rest.”   Real Estate Today: Not Monolithic, but Multifaceted Unlike equities, real estate behaves very differently depending on location, asset class, and capital structure. While some sectors (e.g., Class B office) remain distressed, others (e.g., data centers, multifamily in select markets, industrial) are faring relatively well.   “Literally, there are properties [Zell] held for half a century. He was long term… used modest amounts of leverage, and he bought great properties at even better prices.”   Ritholtz warns against painting real estate with a broad brush and urges nuanced thinking about cycles, risk-adjusted return, and operator quality.   Sentiment vs. Signals: What to Watch Now While he downplays the predictive power of investor sentiment, Ritholtz monitors: Three-month moving averages of non-farm payrolls Rounded tops in S&P earnings trends Residential real estate supply conditions in key metros Dollar strength (as a proxy for confidence and capital flows) “If the dollar keeps falling and supply starts rising in housing markets, it's time to pay attention.”   Dollar, Debt, and the Doomsayers Ritholtz is blunt about the debt debate. He finds most public discourse alarmist and often wrong. With the U.S. still enjoying reserve currency privileges, he sees no imminent collapse but warns against complacency.   “We've been hearing the deficit will destroy America for 50 years. It hasn't. But bad policy could.”   He is more concerned with underinvestment in infrastructure and human capital than with rising debt levels per se.   Closing Counsel for Investors For those sitting on fresh capital, say $1 million, Ritholtz advises: Clarify your goals (retirement, education, housing). Max out tax-advantaged accounts. Build a core of low-cost index exposure. Don't chase alpha before securing beta. Avoid overcomplexity: “Two dozen funds is not a portfolio.” His parting message? Discipline beats prediction. And humility is a superpower.   Final Thought “Everyone is faking it to some degree. The real danger isn't what you don't know – it's not knowing what you don't know.”   In an age of volatility and noise, Ritholtz's framework stands out: stay informed, stay skeptical, and invest like risk is real – because it is.   *** In this series, I cut through the noise to examine how shifting macroeconomic forces and rising geopolitical risk are reshaping real estate investing.   With insights from economists, academics, and seasoned professionals, this show helps investors respond to market uncertainty with clarity, discipline, and a focus on downside protection.    Subscribe to my free newsletter for timely updates, insights, and tools to help you navigate today's volatile real estate landscape. You'll get: Straight talk on what happens when confidence meets correction - no hype, no spin, no fluff. Real implications of macro trends for investors and sponsors with actionable guidance. Insights from real estate professionals who've been through it all before. Visit GowerCrowd.com/subscribe Email: adam@gowercrowd.com Call: 213-761-1000

Send us a textReaching back into our archives we visit one of our most popular episodes - Goldilocks and the Three Classes of Multifamily Real Estate. Every wonder what an A is ? or a C? and why we invest in B? Then join Pat for a look back at one of our most popular episodes ever.

To buy a Class B or not to buy a Class B? That is a question many RVers have probably considered at some point. After all, #vanlife literally has its own hashtag and a sea of influencers that make it look pretty epic. However, despite the many appeals of a Class B van, they do have their drawbacks. Kerri Cox of Travels with Birdy is here to tell us all about taking the leap from a 30-foot travel trailer to a Winnebago Travato---and all of the decision making that went into the process. What are the pros and cons of buying a Class B? What else do you need to know before buying a Class B? What's it like to transition from a travel trailer to a Class B van? The post Downsizing from a Family RV to a Winnebago Class B with Kerri Cox from Travels with Birdy appeared first on The RV Atlas.

Superpowers for Good should not be considered investment advice. Seek counsel before making investment decisions. When you purchase an item, launch a campaign or create an investment account after clicking a link here, we may earn a fee. Engage to support our work.Watch the show on television by downloading the e360tv channel app to your Roku, AppleTV or AmazonFireTV. You can also see it on YouTube.Devin: What is your superpower?Dr. Canaan: Faith and empathyAffordable housing is more than a real estate challenge; it's a mission to create stability and hope. In today's episode, I had the pleasure of exploring this mission with Dr. Canaan Van Williams, the Fund Manager of ProActive Real Estate Group. His work focuses on Naturally Occurring Affordable Housing (NOAA), helping underserved communities secure quality, affordable homes while delivering returns for investors.Dr. Canaan shared his passion for affordable housing through his latest project, Rancho Affordable Living, in Las Vegas. This 23-unit development provides low-income housing at 20–30% below market rates. It prioritizes second-chance housing for people previously evicted, unhoused, or escaping domestic violence. He explained, “Second chance housing is such a huge part of the low-income affordable housing sector. We tend to serve people who are anywhere from 50 to 30 percent AMI or below.”What makes this effort even more compelling is its focus on impact and speed. By revitalizing existing properties, ProActive Real Estate Group avoids the delays associated with subsidies, enabling quicker housing solutions. According to Canaan, “We're able to achieve above market-rate returns because we pass on the cost savings benefits of revitalizing what's existing.”For those who want to get involved, there's exciting news: ProActive Real Estate Group has a live Regulation Crowdfunding (Reg CF) campaign now. This democratizes investment opportunities, allowing non-accredited investors to support affordable housing while earning current income.Canaan brings a unique perspective to this work, drawing from his upbringing in Oakland, California, where his family benefited from affordable housing programs. This personal connection fuels his commitment to creating sustainable communities. “We do everything we can to help our residents,” he shared.Affordable housing projects like Rancho Affordable Living exemplify how mission-driven investments can combine social impact with financial returns. By investing in efforts like this, we can celebrate milestones like Juneteenth not just in words, but in action.tl;dr:Dr. Canaan Van Williams pioneers affordable housing projects like Rancho Affordable Living, offering below-market rents.His work prioritizes second-chance housing, helping underserved people rebuild their lives with dignity.ProActive Real Estate Group's Reg CF campaign allows everyone to invest in impactful housing solutions.Dr. Canaan's faith in God and humanity drives his compassionate approach to building sustainable communities.His advocacy for housing stability showcases the power of love, empathy, and mission-driven leadership.How to Develop Faith and Empathy As a SuperpowerDr. Canaan's superpower is rooted in his faith in God and humanity, coupled with a deep empathy for others. He said, “Our superpower is love. We really practice and demonstrate empathy as much as we possibly can.” This perspective drives his work, enabling him to create housing solutions that prioritize dignity and community for underserved populations. Dr. Canaan's faith inspires him to focus on impact first, trusting that everything else will follow.A compelling example of Dr. Canaan's superpower in action comes from a story about two single mothers in Las Vegas. Both women, homeless and struggling with expired Section 8 vouchers, reached out to him for help. Despite bureaucratic resistance, Canaan advocated on their behalf, convincing the housing office to reinstate their vouchers. His determination and empathy changed their lives, providing them with stable homes for their families.Tips for Developing Faith and Empathy as Strengths:Practice Compassion Daily: Look for opportunities to help others, even in small ways.Advocate Relentlessly: Stand firm for those in need, even when facing resistance.Stay Mission-Focused: Let your values guide your actions, especially in challenging situations.Draw Strength from Faith: Lean into your beliefs to sustain your commitment to doing good.By following Dr. Canaan's example and advice, you can make faith and empathy a skill. With practice and effort, you could make it a superpower that enables you to do more good in the world.Remember, however, that research into success suggests that building on your own superpowers is more important than creating new ones or overcoming weaknesses. You do you!Guest ProfileDr. Canaan Van Williams (he/him):Fund Manager, ProActive Real Estate GroupAbout ProActive Real Estate Group: ProActive Real Estate Group is a mission-driven investment firm specializing in affordable housing that delivers both market-rate returns and measurable social impact. Through the ProActive Impact Fund and “Flight to Safety” strategy, the firm acquires, revitalizes, and manages Class C multifamily, NOAH, and manufactured housing in underserved communities. ProActive's work aligns with the UN Sustainable Development Goals and emphasizes community uplift without displacement. By combining financial expertise with transparent ESG reporting, ProActive offers investors—ranging from individuals to institutions—ethical, de-risked real estate opportunities that strengthen neighborhoods and generate long-term value.Website: proactiveimpactfund.comOther URL: proactivefunds.sppx.io/otp/RA-CF-2025Biographical Information: Dr. Canaan Van Williams is a seasoned impact investor, fund manager, and social innovator dedicated to transforming underserved communities through sustainable housing solutions. As Fund Manager at ProActive Real Estate Group, he leads investment strategies that generate consistent market-rate returns while delivering measurable social impact. His work focuses on revitalizing Class C and distressed Class B multifamily properties, Naturally Occurring Affordable Housing (NOAH), and manufactured housing to create vibrant, affordable communities—without displacement or gentrification.Guided by the United Nations Sustainable Development Goals, Dr. Williams tackles poverty, inequality, and urban sustainability through strategic real estate investments. His projects are backed by transparent reporting, including Morningstar Sustainalytics' ESG ratings, giving investors confidence in both performance and purpose.With a Ph.D. in Psychology and certifications in property and private equity management, Dr. Williams combines human insight with financial acumen. He partners with high-net-worth individuals, family offices, funds, and institutions seeking ethical, de-risked, and socially responsible investment opportunities.Dr. Williams is a trusted leader at the intersection of finance and social change—proving that real estate can be a force for good. Learn more at www.Flight2Safety.com or connect with him at LinkedIn.LinkedIn: linkedin.com/in/dr-canaan-williams-aa3924bSupport Our SponsorsOur generous sponsors make our work possible, serving impact investors, social entrepreneurs, community builders and diverse founders. Today's advertisers include FundingHope, Kingscrowd, Just Her Rideshare, and Crowdfunding Made Simple. Learn more about advertising with us here.Max-Impact MembersThe following Max-Impact Members provide valuable financial support:Carol Fineagan, Independent Consultant | Lory Moore, Lory Moore Law | Marcia Brinton, High Desert Gear | Paul Lovejoy, Stakeholder Enterprise | Pearl Wright, Global Changemaker | Ralf Mandt, Next Pitch | Scott Thorpe, Philanthropist | Matthew Mead, Hempitecture | Michael Pratt, Qnetic | Sharon Samjitsingh, Health Care Originals | Add Your Name HereUpcoming SuperCrowd Event CalendarIf a location is not noted, the events below are virtual.Join us on June 25, 2025, at 8:00 PM Eastern for the Superpowers for Good Live Pitch—streaming on e360tv, where purpose-driven founders take the virtual stage to present their active Regulation Crowdfunding campaigns to a national audience of investors and changemakers. Selected startups are chosen for their commitment to community, alignment with NC3's Community Capital Principles, and their drive to create real-world impact. Thanks to sponsors DNA and DealMaker, this event is free to watch and amplifies the voices of underrepresented and mission-aligned entrepreneurs. Don't miss this inspiring evening where capital meets purpose—tune in to discover and support the next wave of impact-driven innovation.Impact Cherub Club Meeting hosted by The Super Crowd, Inc., a public benefit corporation, on July 15, 2025, at 1:00 PM Eastern. Each month, the Club meets to review new offerings for investment consideration and to conduct due diligence on previously screened deals. To join the Impact Cherub Club, become an Impact Member of the SuperCrowd.SuperCrowd25, August 21st and 22nd: This two-day virtual event is an annual tradition but with big upgrades for 2025! We'll be streaming live across the web and on TV via e360tv. Soon, we'll open a process for nominating speakers. Check back!Community Event CalendarSuccessful Funding with Karl Dakin, Tuesdays at 10:00 AM ET - Click on Events.Devin Thorpe is featured in a free virtual masterclass series hosted by Irina Portnova titled Break Free, Elevate Your Money Mindset & Call In Overflow, focused on transforming your relationship with money through personal stories and practical insights. June 8-21, 2025.Join Dorian Dickinson, founder & CEO of FundingHope, for Startup.com's monthly crowdfunding workshop, where he'll dive into strategies for successfully raising capital through investment crowdfunding. June 24 at noon Eastern.Regulated Investment Crowdfunding Summit 2025, Crowdfunding Professional Association, Washington DC, October 21-22, 2025.Call for community action:Please show your support for a tax credit for investments made via Regulation Crowdfunding, benefiting both the investors and the small businesses that receive the investments. Learn more here.If you would like to submit an event for us to share with the 9,000+ changemakers, investors and entrepreneurs who are members of the SuperCrowd, click here.We use AI to help us write compelling recaps of each episode. Get full access to Superpowers for Good at www.superpowers4good.com/subscribe

David Hrizak is the co-founder and CEO of The Streamline Companies, a vertically integrated real estate investment firm specializing in medical office and Class B office buildings. With nearly 30 years in commercial real estate, David has done it all—from brokerage and development to construction and investing.After retiring at 49, David quickly realized his purpose wasn't in stepping away—it was in coming back. He returned to the industry not for the money, but for the mission: to help others build lasting wealth and create meaningful legacies through real estate.David leads with grit, patience, and integrity. Raised by a tough grandmother in Chicago, he learned early on the value of discipline and loyalty. Today, he brings that same no-nonsense, heart-first mentality into every conversation, investment, and mentorship relationship.He also serves as Board Chairman for Oakwood Creative Care, a nonprofit serving individuals with Alzheimer's and dementia—a cause close to his heart.Chapters00:00Introduction to Passive Investing and Market Volatility02:57David Hrizak's Journey and Background06:06The Structure and Focus of Streamline Companies10:45Exploring Medical Office Investments15:05Details on Current Fund and Investment Strategy18:51Tax Advantages and Investor Education20:44Track Record and Lessons from Past Experiences22:07Navigating Financial Challenges in Real Estate25:52Current Projects and Asset Management27:38Impact of Tariffs and Material Costs30:06Investment Opportunities for Passive Investors32:37Educational Resources for New Investors35:14Due Diligence in Real Estate Investing37:01Personal Growth and Bucket List Adventures38:22Investment Strategies in Emerging MarketsRANDY SMITHConnect with our host, Randy Smith, for more educational content or to discuss investment opportunities in the real estate syndication space at www.impactequity.net, https://www.linkedin.com/in/randallsmith or on Instagram at @randysmithinvestorKeywordspassive investing, real estate, medical office, market volatility, investment opportunities, Streamline Companies, David Hrizak, financial education, wealth creation, community banks

Guest Include:  - Drew Trafton, Forum Content Director    - Dillon Vogt, WDAY Meteorologist     - Ryan Babatz, NDSU 2025 Football Signee     - Joe Kramlich, 2025 Class B state golf champion 

Show Date: 6/2/25Dan and Andy welcome special guest Pat Tschida to the show to talk Town Ball baseball, and in particular the Watertown Red Devils. The Red Devils will play the '25 season in Class B this year and the reigning MVP of the Crow River Valley League will provide his thoughts on the upcoming '25 season. In 2024, Pat was the Hitter of the Year and the Pitcher of the Year in a very tough CRVL. Mr. Tschida is also the head Varsity Coach for the Watertown-Mayer Royals baseball team in the Wright County - West Conference. Article by Kip Kovar in the Herald Journal about Pat Tschida from 5/5/25.Sports and Songs Podcast Links:https://www.facebook.com/sportsandsongs1https://twitter.com/SportsandSongs1https://www.instagram.com/sportsandsongs/https://www.sportsandsongspodcast.com/

On this episode of the Passive Income Playbook, Pascal Wagner interviews Joel Friedland, a veteran industrial real estate investor and founder of Brit Properties. Joel shares his journey from cold-calling tenant leads in the 1980s to building a 100+ property portfolio—all purchased without using debt. He explains the appeal and stability of Class B industrial buildings in the Chicago market, his strategy of selling to users rather than investors for premium pricing, and the importance of investing with operators who prioritize safety and long-term thinking. Joel also offers a grounded take on reshoring trends, cautioning that labor shortages—not tariffs—will be the limiting factor for a U.S. manufacturing boom. Joel Friedland Current role: Founder of Brit Properties Based in: Chicago, Illinois Say hi to them at: www.britproperties.com Get a 4-week trial, free postage, and a digital scale at ⁠https://www.stamps.com/cre⁠. Thanks to Stamps.com for sponsoring the show! Post your job for free at https://www.linkedin.com/BRE. Terms and conditions apply. Join the Best Ever Community  The Best Ever Community is live and growing - and we want serious commercial real estate investors like you inside. It's free to join, but you must apply and meet the criteria.  Connect with top operators, LPs, GPs, and more, get real insights, and be part of a curated network built to help you grow. Apply now at ⁠www.bestevercommunity.com⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of Zen and the Art of Real Estate Investing, Jonathan is joined by Gary Lipsky, founder of Break of Day Capital, to explore what it takes to succeed in multifamily real estate syndication. Gary shares how he went from buying his first fixer-upper in Los Angeles to managing over 3,200 apartment units across Arizona. With an emphasis on transparency, due diligence, and investor education, Gary discusses how his firm evaluates markets, selects value-add properties, and builds long-term relationships with investors. They dive deep into the differences between Class A and B assets, what makes a market like Tucson attractive for syndicators, and how Gary's entrepreneurial background helped him scale while staying focused. The conversation also covers how passive investors should evaluate operators, what strong communication looks like, and why a conservative, consistent approach beats chasing the highest returns. In this episode, you will hear: What drew Gary to the Tucson market, and how he evaluates its long-term potential Key indicators he looks for when assessing Class B value-add properties Traits of trustworthy syndicators and how passive investors can vet them effectively The role of conservative underwriting in building a sustainable investment strategy How consistent execution and strong communication help operators earn investor confidence Ways to educate potential investors without overselling or overpromising Follow and Review: We'd love for you to follow us if you haven't yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Break of Day Capital website - breakofdaycapital.com Break of Day Capital on YouTube - www.youtube.com/c/BreakofDayCapital Break of Day Capital's Facebook - www.facebook.com/breakofdaycapitalinvesting Gary Lipsky on Instagram - www.instagram.com/breakofdaycapital Connect with Gary Lipsky on LinkedIn - www.linkedin.com/in/gary-lipsky Website - www.streamlined.properties YouTube - www.youtube.com/c/JonathanGreeneRE/videos Instagram - www.instagram.com/trustgreene Instagram - www.instagram.com/streamlinedproperties TikTok - www.tiktok.com/@trustgreene Zillow - www.zillow.com/profile/StreamlinedReal Bigger Pockets - www.biggerpockets.com/users/TrustGreene Facebook - www.facebook.com/streamlinedproperties Email - info@streamlined.properties Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.

Hello Interactors,I was in Santa Barbara recently having dinner on a friend's deck when a rocket's contrail streaked the sky. “Another one from Vandenberg,” he said. “Wait a couple minutes — you'll hear it.” And we did. “They've gotten really annoying,” he added. He's not wrong. In early 2024, SpaceX launched seven times more tonnage into space than the rest of the world combined, much of it from Vandenberg Space Force Base (renamed from Air Force Base in 2021). They've already been approved to fly 12,000 Starlink satellites, with filings for 30,000 more.This isn't just future space junk — it's infrastructure. And it's not just in orbit. What Musk is doing in the sky is tied to what he's building on the ground. Not in Vandenberg, where regulation still exists, but in Starbase, Texas, where the law doesn't resist — it assists. There, Musk is testing how much sovereignty one man can claim under the banner of “innovation” — and how little we'll do to stop him.TOWNS TO THRUST AND THRONEMusk isn't just defying gravity — he's defying law. In South Texas, a place called Starbase has taken shape along the Gulf Coast, hugging the edge of SpaceX's rocket launch site. What looks like a town is really something else: a launchpad not just for spacecraft, but for a new form of privatized sovereignty.VIDEO: Time compresses at the edge of Starbase: a slow-built frontier where launch infrastructure rises faster than oversight. Source: Google EarthThis isn't unprecedented. The United States has a long lineage of company towns — places where corporations controlled land, housing, labor, and local government. Pullman, Illinois is the most famous. But while labor historians and economic geographers have documented their economic and social impact, few have examined them as legal structures of power.That's the gap legal scholar Brian Highsmith identifies in Governing the Company Town. That omission matters — because these places aren't just undemocratic. They often function as quasi-sovereign legal shells, designed to serve capital, not people.Incorporation is the trick. In Texas, any area with at least 201 residents can petition to become a general-law municipality. That's exactly what Musk has done. In a recent vote (212 to 6) residents approved the creation of an official town — Starbase. Most of those residents are SpaceX employees living on company-owned land…with a Tesla in the driveway. The result is a legally recognized town, politically constructed. SpaceX controls the housing, the workforce, and now, the electorate. Even the mayor is a SpaceX affiliate. With zoning powers and taxing authority, Musk now holds tools usually reserved for public governments — and he's using them to build for rockets, not residents…unless they're employees.VIDEO: Starbase expands frame by frame, not just as a company town, but as a legal experiment — where land, labor, and law are reassembled to serve orbit over ordinance. Source: Google EarthQuinn Slobodian, a historian of neoliberalism and global capitalism, shows how powerful companies and individuals increasingly use legal tools to redesign borders and jurisdictions to their advantage. In his book, Cracked Up Capitalism, he shows how jurisdiction becomes the secret weapon of the capitalist state around the world. I wrote about a techno-optimist fantasy state on the island of Roatán, part of the Bay Islands in Honduras a couple years ago. It isn't new. Disney used the same playbook in 1967 with Florida's Reedy Creek District — deeding slivers of land to employees to meet incorporation rules, then governing without real opposition. Highsmith draws a straight line to Musk: both use municipal law not to serve the public, but to avoid it. In Texas, beach access is often blocked near Starbase — even when rockets aren't launching. A proposed bill would make ignoring an evacuation order a Class B misdemeanor, punishable by jail.Even if Starbase never fully resembles a traditional town, that's beside the point. What Musk is really revealing isn't some urban design oasis but how municipal frameworks can still be weaponized for private control. Through zoning laws, incorporation statutes, and infrastructure deals, corporations can shape legal entities that resemble cities but function more like logistical regimes.And yet, this tactic draws little sustained scrutiny. As Highsmith reminds us, legal scholarship has largely ignored how municipal tools are deployed to consolidate corporate power. That silence matters — because what looks like a sleepy launch site in Texas may be something much larger: a new form of rule disguised as infrastructure.ABOVE THE LAW, BELOW THE LANDElon Musk isn't just shaping towns — he's engineering systems. His tunnels, satellites, and rockets stretch across and beyond traditional borders. These aren't just feats of engineering. They're tools of control designed to bypass civic oversight and relocate governance into private hands. He doesn't need to overthrow the state to escape regulation. He simply builds around it…and in the case of Texas, with it.Architect and theorist Keller Easterling, whose work examines how infrastructure quietly shapes political life, argues that these systems are not just supports for power — they are power. Infrastructure itself is a kind of operating system for shaping the city, states, countries…and now space.Starlink, SpaceX's satellite constellation, provides internet access to users around the world. In Ukraine, it became a vital communications network after Russian attacks on local infrastructure. Musk enabled access — then later restricted it. He made decisions with real geopolitical consequences. No president. No Congress. Just a private executive shaping war from orbit.And it's not just Ukraine. Starlink is now active in dozens of countries, often without formal agreements from national regulators. It bypasses local telecom laws, surveillance rules, and data protections. For authoritarian regimes, that makes it dangerous. But for democracies, it raises a deeper question: who governs the sky?Right now, the answer is: no one. The Outer Space Treaty of 1967 assumes that nation-states, not corporations, are the primary actors in orbit. But Starlink functions in a legal grey zone, using low Earth orbit as a loophole in international law…aided and abetted by the U.S. defense department.VIDEO: Thousands of Starlink satellites, visualized in low Earth orbit, encircle the planet like a privatized exosphere—reshaping global communication while raising questions of governance, visibility, and control. Source: StarlinkThe result is a telecom empire without borders. Musk commands a growing share of orbital infrastructure but answers to no global regulator. The International Telecommunication Union can coordinate satellite spectrum, but it can't enforce ethical or geopolitical standards. Musk alone decides whether Starlink aids governments, rebels, or armies. As Quinn Slobodian might put it, this is exception-making on a planetary scale.Now let's go underground. The Boring Company digs high-speed tunnels beneath cities like Las Vegas, sidestepping standard planning processes. These projects often exclude transit agencies and ignore public engagement. They're built for select users, not the public at large. Local governments, eager for tech-driven investment, offer permits and partnerships — even if it means circumventing democratic procedures.Taken together — Starlink above, Boring Company below, Tesla charging networks on the ground — Musk's empire moves through multiple layers of infrastructure, each reshaping civic life without formal accountability. His systems carry people, data, and energy — but not through the public channels meant to regulate them. They're not overseen by voters. They're not authorized by democratic mandate. Yet they profoundly shape how people move, communicate, and live.Geographer Deborah Cowen, whose research focuses on the global logistics industry, argues that infrastructure like ports, fiber-optic cables, and pipelines have become tools of geopolitical strategy. Logistics as a form of war by other means. Brian Highsmith argues this is a form of “functional fragmentation” — breaking governance into layers and loopholes that allow corporations to sidestep collective control. These aren't mere workarounds. They signal a deeper shift in how power is organized — not just across space, but through it.This kind of sovereignty is easy to miss because it doesn't always resemble government. But when a private actor controls transit systems, communication networks, and even military connectivity — across borders, beneath cities, and in orbit — we're not just dealing with infrastructure. We're dealing with rule.And, just like with company towns, the legal scholarship is struggling to catch up. These layered, mobile, and non-territorial regimes challenge our categories of law and space alike. What these fantastical projects inspire is often awe. But what they should require is law.AMNESIA AIDS THE AMBITIOUSElon Musk may dazzle with dreams full-blown, but the roots of his power are not his own. The United States has a long tradition of private actors ruling like governments — with public blessing. These aren't outliers. They're part of a national pattern, deeply embedded in our legal geography: public authority outsourced to private ambition.The details vary, but the logic repeats. Whether it's early colonial charters, speculative land empires, company towns, or special districts carved for tech campuses, American history is full of projects where law becomes a scaffold for private sovereignty. Rather than recount every episode, let's just say from John Winthrop to George Washington to Walt Disney to Elon Musk, America has always made room for men who rule through charters, not elections.Yet despite the frequency of these arrangements, the scholarship has been oddly selective.According to Highsmith, legal academia has largely ignored the institutional architecture that makes company towns possible in the first place: incorporation laws, zoning frameworks, municipal codes, and districting rules. These aren't neutral bureaucratic instruments. They're jurisdictional design tools, capable of reshaping sovereignty at the micro-scale. And when used strategically, they can be wielded by corporations to create functional states-within-a-state — governing without elections, taxing without consent, and shaping public life through private vision.From a critical geography perspective, the problem is just as stark. Scholars have long studied the uneven production of space — how capital reshapes landscapes to serve accumulation. But here, space isn't just produced — it's governed. And it's governed through techniques of legal enclosure, where a patch of land becomes a jurisdictional exception, and a logistics hub or tech campus becomes a mini-regime.Starbase, Snailbrook, Reedy Creek, and even Google's Sidewalk Labs are not just spatial projects — they're sovereign experiments in spatial governance, where control is layered through contracts, tax breaks, and municipal proxies.But these arrangements don't arise in a vacuum. Cities often aren't choosing between public and private control — they're choosing between austerity and access to cash. In the United States, local governments are revenue-starved by design. Most lack control over income taxes or resource royalties, and depend heavily on sales taxes, property taxes, and development fees. This creates a perverse incentive: to treat corporations not as entities to regulate, but as lifelines to recruit and appease.Desperate for jobs and investment, cities offer zoning concessions, infrastructure deals, and tax abatements, even when they come with little democratic oversight or long-term guarantees. Corporate actors understand this imbalance — and exploit it. The result is a form of urban hostage-taking, where governance is bartered piecemeal in exchange for the promise of economic survival.A more democratized fiscal structure — one that empowers cities through equitable revenue-sharing, progressive taxation, or greater control over land value capture — might reduce this dependency. It would make it possible for municipalities to plan with their citizens instead of negotiating against them. It would weaken the grip of corporate actors who leverage scarcity into sovereignty. But until then, as long as cities are backed into a fiscal corner, we shouldn't be surprised when they sell off their power — one plot or parking lot at a time.Highsmith argues that these structures demand scrutiny — not just for their economic impact, but for their democratic consequences. These aren't just quirks of local law. They are the fault lines of American federalism — where localism becomes a loophole, and fragmentation becomes a formula for private rule.And yet, these systems persist with minimal legal friction and even less public awareness. Because they don't always look like sovereignty. Sometimes they look like a housing deal. A fast-tracked zoning change. A development district with deferred taxes. A campus with private shuttles and subsidized utilities. They don't announce themselves as secessions — but they function that way.We've been trained to see these projects as innovation, not governance. As entrepreneurship, not policy. But when a company owns the homes, builds the roads, controls the data, and sets the rules, it's not just offering services — it's exercising control. As political theorist Wendy Brown has argued, neoliberalism reshapes civic life around the image of the entrepreneur, replacing democratic participation with market performance.That shift plays out everywhere: universities run like corporations, cities managed like startups. Musk isn't the exception — he's the clearest expression of a culture that mistakes private ambition for public good. Musk once tweeted, “If you must know, I am a utopian anarchist of the kind best described by Iain Banks.” In a New York Times article, Jill Lepore quoted Banks as saying his science fiction books were about “'hippy commies with hyper-weapons and a deep distrust of both Marketolatry and Greedism.' He also expressed astonishment that anyone could read his books as promoting free-market libertarianism, asking, ‘Which bit of not having private property and the absence of money in the Culture novels have these people missed?'”The issue isn't just that we've allowed these takeovers — it's that we've ignored the tools enabling them: incorporation, annexation, zoning, and special districts. As Brian Highsmith notes, this quiet shift in power might not have surprised one of our constitution authors, James Madison, but it would have troubled him. In Federalist No. 10, Madison warned not of monarchs, but of factions — small, organized interests capturing government for their own ends. His solution was restraint through scaling oppositional voices. “The inference to which we are brought is, that the causes of faction cannot be removed...and that relief is only to be sought in the means of controlling its effects.”— James Madison, Federalist No. 10 (1787)Today, the structure meant to restrain factions has become their playbook. These actors don't run for office — they arrive with charters, contracts, and capital. They govern not in the name of the people, but of “efficiency” and “innovation.” And they don't need to control a nation when a zoning board will do.Unchecked, we risk mistaking corporate control for civic order — and repeating a pattern we've barely begun to name.We were told, sold, and promised a universe of shared governance — political, spatial, even orbital. But Madison didn't trust promises. He trusted structure. He feared what happens when small governments fall to powerful interests — when law becomes a lever for private gain. That fear now lives in legal districts, rocket towns, and infrastructure built to rule. Thousands of satellites orbit the Earth, not launched by publics, but by one man with tools once reserved for states. What was once called infrastructure now governs. What was once geography now obeys.Our maps may still show roads and rails and pipes and ports — but not the fictions beneath them, or the factions they support.References:Brown, W. (2015). Undoing the demos: Neoliberalism's stealth revolution. Zone Books.Cowen, D. (2014). The deadly life of logistics: Mapping violence in global trade. University of Minnesota Press.Easterling, K. (2014). Extrastatecraft: The power of infrastructure space. Verso Books.Highsmith, B. (2022). Governing the company town: How employers use local government to seize political power. Yale Law Journal.Madison, J. (1787). Federalist No. 10. In A. Hamilton, J. Madison, & J. Jay, The Federalist Papers. Bantam Books (2003 edition).Slobodian, Q. (2023). Crack-Up Capitalism: Market radicals and the dream of a world without democracy. Metropolitan Books. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit interplace.io

Story of the Week (DR):Right wing faux populism:Josh Hawley blasts Allstate CEO for making $26M last year — while company can't ‘afford' to pay out claimsTrump Attacks Walmart, Tells Retailer to ‘Eat the Tariffs' Instead of Raising PricesTesla CFO earns staggering $139M compensation packageVaibhav Taneja: Approximately 80% of Mr. Taneja's equity award was granted as stock options and 20% of the award was granted as restricted stock units. Robyn Denholm member of Pay CommitteeIn 2024, Tesla experienced its first annual sales decline in nearly a decade, with a 1.1% drop in global deliveries. In April 2025, Chinese automaker BYD surpassed Tesla in European electric vehicle sales for the first time, registering 7,231 units compared to Tesla's 7,165. This shift is attributed to BYD's competitively priced and technologically advanced lineup. Tesla's sales in California, its largest American market, declined in all four quarters of 2024, with Model 3 sales plunging 36% for the year. In 2024, Tesla led all automakers in the U.S. with over 5 million vehicles recalled across 16 separate campaignsIn 2025, Tesla dropped to 95th place out of 100 in the Axios Harris Poll, down from 8th place in 2021In a hidden 10K/A from 4/30/25“Staggering” is from Fox: even more fake anti-capitalist rhetoricScared bro dictatorships: Duolingo deletes its TikTok and Instagram posts amid AI backlashCEO Luis von Ahn, posted a memo on LinkedIn last month describing plans to make the company "AI-first." He said the company would "gradually stop using contractors to do work that AI can handle" and "headcount will only be given if a team cannot automate more of their work."The backlash was harsh. Tweets, TikToks, and Reddit posts exploded in outrage. As of Tuesday, Duolingo's social accounts had been wiped — no posts, no icon. Duolingo did not respond to a request for comment.And the one statement that was released by a Duolingo spokesperson, after the account went dark, did not shade much light on the situation (pun intended): “Let's just say we're experimenting with silence. Sometimes, the best way to make noise is to disappear first.”Duolingo CEO says there may still be schools in our AI future, but mostly just for childcareBro dictatorship (76% combined voting power)Co-founder CEO Luis von Ahn (43%); co-founder CTO Severin Hacker (40%)Classified board: why?Each share of Class A common stock is entitled to one vote, and each share of Class B common stock is entitled to 20 votesThe worst kind of suck-ups: Verizon ends DEI programs, diversity goals as it seeks approval for Frontier acquisition MMVerizon dumped DEI. Then regulators cleared its $20 billion Frontier deal4/1/25: T-Mobile announces DEI changes in pursuit of LumosA day after T-Mobile said it would end some diversity, equity and inclusion practices, the FCC gave a green light to T-Mobile's deal with EQT for fiber operator Lumos.5/22/25: AT&T CEO on potential Trump DEI pressure for $5.75B deal: 'We don't have to roll back anything'AT&T CEO John Stankey isn't showing his hand yet on whether he plans to dial back diversity, equity, and inclusion (DEI) initiatives to gain approval for a big new fiber deal from the Trump administration.AT&T said late Wednesday it would acquire all of Lumen Technologies' (LUMN) fiber business for $5.75 billion, above the already pricey $5.5 billion that deal watchers estimated a few weeks ago.Goodliest of the Week (MM/DR):DR: Most US executives want to remove at least one director, PwC survey says93% said they wanted at least one director to be replaced, an all-time high for the five years this survey has been conducted78% said two or more should be replaced56% worried about directors' performance being diminished by their advanced age47% worried members served on too many boardsOnly 32% believe their boards have the right skills and expertiseMM: BYD overtakes Tesla in Europe for the first time. That's more bad news for Elon Musk. MMI'm now rooting for China… and I'm not alone: Jamie Dimon says he is a 'red-blooded American patriot capitalist,' but he sees how China's hustle is paying offAssholiest of the Week (MM):Shareholders lamenting the rise of virtual meetingsShareholders lament the rise of virtual annual meetingsThey miss the time they could meet directors face to face before voting 97% in favor?Shareholders afraid to vote against directors93% of U.S. Executives Desire Board Member Replacements, Survey Finds - News and Statistics49% of directors think one other director should get the axe too according to PwCGrant them their wish!! Just YOU choose instead of them!I'll do it for you:If I look at directors actively on 2+ boards, who have served on at least 3 boards in the last 7 years…Filter them by performance - below average earnings, TSR, AND controversies…There are 66 options to choose from!Including… Stephen Girsky, CEO of fraudulent company Nikola!Randy Weisenburger at Valero Energy and Carnival!Robert Johnson on the boards of Spirit Aero, Roper, and Spirit Airlines!Arnold Donald on four boards - Salesforce, BofA, GE Vernova, MP Materials! Four times the underperformance!Chip Bergh at HP and Pinterest!What, you don't recognize any of these names? These sound like random board members? Shame on you!Johnson has been on the boards for 18,19, and 14 years respectivelyWeisenburger for 14 and 16 yearsDonald's been at BofA for 12 yearsBergh's been at HP for 9 years!These people are tenured. They've been around. They've proven they are really good at overseeing underperformance. VOTE. THEM. OUT.I'm sure you're worried about hurting their feelings or seeming activist - you're not, and you won't! Even the boards and executives wish you would vote someone out! Try it!Harvard board members DRDHS barred Harvard from enrolling international students. Here's what's at stake and what's still uncertainYou've let Bill Ackman be your big fat useless mouthpiece - where the fuck are you all? Oh, I found you…2,173 companies in our database have at least one director who attended Harvard848 of those companies are NON US companiesJust under 4% of ALL GLOBAL DIRECTORSHIPS are held by what we KNOW are Harvard alumsIt's 9% of all US company directorships - nearly 1 in every 10 US directors at a company are from HarvardAverage network power of a Harvard director is $6.2 trillion, compared to a global average of $2.6 trillion - Harvard directors have nearly 2.5x the power of an average directorHarvard directors have on average 13% influence compared to 11% for other directorsOn average, 38% of Harvard directors have merit - while 20% of non Harvard directors doDriven largely by the fact that 62% of them have core industry knowledge and 55% are company leaders - vs. 19% of non Harvard directors with core industry knowledge and 44% of non Harvard directors being leadersWhere we have race/ethnicity data for Harvard directors (1,664 of them), 28% are non white - compared to non Harvard directors where we have race (12,412 of them) only 16% are non whiteAt least 70 of the directors who went to Harvard in our database are tagged as international nationals in our data - and that's a WOEFULLY incomplete datasetOpen your fucking mouths! Did going to Harvard any of you help you get jobs and board positions? Was it nice to network and meet people who eventually could help you get jobs? Is there a culture of Harvard? I hate Harvard, and even I think this is utter madness and stupidity - stand up! Say something you cowards! Headliniest of the WeekDR: Chicago Sun-Times prints summer reading list full of fake books: Reading list in advertorial supplement contains 66% made up books with real author names: "Tidewater Dreams" by Isabel Allende and "The Last Algorithm" by Andy Weir MM: ‘Buy the dip'? You're twice as likely to do that if you're a manNacho dip? Women Outperform Men as Investors, Statistics Show. Here Are 3 Possible Reasons.MM: Anthropic's new Claude model blackmailed an engineer having an affair in test runsMM: Pitney Bowes appoints activist investor as new CEOI love when a company literally just gives up entirelyWho Won the Week?DR: Sam Alman, Ugh: Sam Altman Tells Staff Plan to Ship 100 Million Devices That See Everything In Users' Lives after OpenAI is buying iPhone designer Jony Ive's AI devices startup for $6.4 billionMM: Bud Light - thanks to one trans beer drinker, everyone that shot their Bud Light cans avoided future illness: Beer is the latest source of hazardous PFAS, or ‘forever chemicals,' according to worried scientists. Thank you, trans beer drinkers! You saved us once again!PredictionsDR: When AT&T gives up its DEI program to the Trump altar, I buy some string and quickly make hummus so I can use two empty cans of chick peas to make my new phoneMM: Since this is going forward - Antitrust Cops Say BlackRock, Other Fund Giants May Have Hurt Coal Competition - which should read “Company owners ask companies they own to do stuff” - Blackrock will launch a new investment vehicle called “Pick Your Own Damn Stocks, We Don't Give a Damn LP” in which clients can pick the investments and are auto enrolled in a proxy voting program called “Whatever the Fuck Ever” in which voting and engagement are assigned directly to every board chair.

Marc Hershberg, Managing Partner and CEO at Topaz Capital, joins us to unpack the real story behind Florida's multifamily market. While headlines tend to spotlight Florida's coastal glamour, Marc takes us beyond the beach by highlighting why inland markets, workforce housing, and Class B assets are where the smart money is headed. We discuss the strategic importance of inland geography, the philosophy of "market-first, deal-second", the risks of climate-driven insurance volatility, and how foreign capital is approaching the Sunshine State.Tune in for a grounded, forward-looking conversation you won't want to miss. Key Moments:00:58 Mark Hershberg's early real estate journey02:33 Launching Topaz Capital: Opportunities and challenges05:32 Topaz Capital's current operations and strategy08:43 Investment focus: Workforce housing in Florida11:10 Recent deals and investment strategies13:00 The 1031 Exchange platform15:08 Florida's multifamily market: Risks and opportunities25:29 Foreign investment and local knowledge28:01 Using data analytics for investment decisions29:09 Outlook for multifamily investments Resources Mentioned:Marc Hershberg - https://www.linkedin.com/in/marchershberg/Topaz Capital Group - https://topazcg.com/Email us - altusresearch@altusgroup.comThanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.#CRE #CommercialRealEstate #Property

In this episode of Masters of Moments, host Jake Wurzak sits down with Hunt Rose, co-founder of TruCore Investments, to dive into the business of Class B industrial real estate and what makes it one of the most resilient, overlooked asset classes in today's market. Drawing on his experience in brokerage and acquisitions, Hunt explains how TruCore's national platform finds value in under-managed, substitutional assets and why a fragmented ownership base presents a unique opportunity for investors with a focused strategy. They also discuss: The risk-adjusted appeal of Class B industrial assets in infill markets Sourcing deals through local brokerage relationships across 150+ U.S. markets How TruCore approaches marking rents to market with legacy tenants The business case for converting gross leases to triple net structures Functional criteria they use to quickly screen new acquisitions Their “100 questions” underwriting playbook and due diligence process Fund structure, capital raising strategy, and investor communications This episode is a practical, inside look at how a lean team is scaling a national industrial platform by sticking to fundamentals, staying disciplined, and building trust with tenants and investors alike. Links: Hunt Rose on X - https://x.com/nnn_industrial Hunt Rose on LinkedIn - https://www.linkedin.com/in/hunt-rose-9229694b/ TruCore Investments - https://trucoreinvestments.com/ Connect & Invest with Jake: Follow Jake on X: https://x.com/JWurzak 1 on 1 coaching with Jake: https://www.jakewurzak.com/coaching Learn How to Invest with DoveHill: https://bit.ly/3yg8Pwo Topics: (00:00:00) - Intro (00:00:38) - Landing a deal from a Podcast (00:03:04) - Where are you investing? (00:06:37) - Is sub-institutional scalable? (00:09:00) - The business case for Class B Industrial (00:13:00) - What's the business plan when you acquire a property? (00:15:42) - Why are rents often times below market? (00:18:23) - Lease renewal approaches (00:22:21) - Converting gross deals to NNN deals (00:24:47) - Where do things go wrong on these deals (00:27:25) - What kills a deal for you? (00:30:30) - Making the entrepreneurial leap (00:36:02) - How have you fine-tuned the acquisition process? (00:38:35) - What do you do differently as an owner that the tenant would recognize? (00:42:14) - The advantage and disadvantage of being the money from out of town (00:45:35) - Are there any tenants you refuse to have on a property? (00:47:54) - Holding strategies (00:49:58) - Establishing a Fund (00:54:09) - Raising capital (01:03:36) - Reporting and investor relationships (01:08:51) - What is your favorite hotel? (01:09:55) - Get in touch with Hunt

It's been announced that Warren Buffett is stepping down as CEO of Berkshire Hathaway. In this episode, I'll discuss Buffett's humble beginnings, his approach to investing, and the philosophy that built one of the most successful companies in history. I'll also break down Warren Buffett's wisdom into seven powerful, practical tips that align with my own approach to advising clients. Listen for tips on starting your investment journey early, staying the course during tough markets, and prioritizing temperament over intellect.  You will want to hear this episode if you are interested in... [00:00] Principles of Warren Buffett's investing strategies. [05:55] Buffett co-founded The Giving Pledge, pledging 99% of his wealth, and influencing other billionaires. [07:08] Berkshire Hathaway class A shares have averaged a 19% annual return since 1966, vastly outperforming the S&P 500's 11%. [12:41] Invest early, stay committed through market ups and downs, and be fearful when others are greedy and greedy when others are fearful. [17:03] Warren Buffett advises most people to use index funds due to the difficulty of replicating his results. [18:43] Make investment decisions based on facts, not emotions. Investment Lessons from Warren Buffett Warren Buffett, often called the “Oracle of Omaha,” has long been considered one of the greatest investors of all time. His recent announcement that he will step down as CEO of Berkshire Hathaway after more than six decades is the perfect time to reflect on what sets Buffett apart, not just as an investor but as an individual. This episode digs into key lessons from Buffett's life and career, exploring practical ways to apply his wisdom to your financial journey. From Humble Beginnings to Monumental Success Warren Buffett's rise didn't begin in a Wall Street boardroom, but in Omaha, Nebraska, where he was born in 1930. From an early age, Buffett showed an affinity for entrepreneurship, selling chewing gum, Coca-Cola, and magazines as a child. His formal education at the University of Nebraska, Wharton Business School, and Columbia University (where he studied under the legendary Benjamin Graham) laid the foundation for his value investing philosophy. Buffett started his first investment partnership in 1956 with $105,100, much of it from family and friends. By the age of 32, he was a millionaire. His acquisition of Berkshire Hathaway, a struggling textile company at the time, became the launchpad for one of the most successful investment conglomerates in history. The Power of Modesty and Discipline Despite amassing unparalleled wealth, Buffett is renowned for his modest lifestyle. He still lives in the house he purchased in 1958 for $31,000 and drives an older model Cadillac, proving that frugality and comfort often go hand in hand. This modesty is more than a quirk; it's a testament to his belief that wealth should serve a purpose beyond personal extravagance. Buffett's philanthropic efforts are equally legendary. Through The Giving Pledge (co-founded with Bill and Melinda Gates), he's committed to donating more than 99% of his fortune. For Buffett, investing is not just about making money, it's about stewarding resources responsibly and generously. Berkshire Hathaway's Long-Term Outperformance Under Buffett's leadership, Berkshire Hathaway's stock has delivered returns averaging 19% annually since 1966, trouncing the S&P 500's historical average of 11%. One share of Berkshire's Class A stock now costs nearly $800,000, a figure that tells the story of sustained outperformance. Buffett has also issued Class B shares at a lower price tag to democratize access for smaller investors, reflecting his desire to make wealth-building accessible. Buffett's Top Investing Lessons 1. Don't Lose Money Buffett's two most famous rules are simple: “Rule number one: don't lose money. Rule number two: don't forget rule number one.” He emphasizes buying quality businesses with durable competitive advantages rather than taking risks on struggling firms with unsustainable dividends. 2. Start Early and Stay the Course In his book The Snowball, Buffett likens investing to rolling a snowball down a long hill: the earlier you start, the bigger the results. Even if you're approaching retirement, encouraging the younger generation to invest early can yield enormous benefits over time. 3. Remaining Committed Through Market Ups and Downs is Equally Vital Buffett urges consistent investing, especially when markets are turbulent. Staying invested and buying during downturns can lead to significant long-term gains. 4. Be Fearful When Others Are Greedy Buffett's contrarian mindset, being “fearful when others are greedy, and greedy when others are fearful”, has served him well during market panics. While it's emotionally taxing to buy during selloffs, history shows that long-term investors are often rewarded. 5. Buy Great Companies at Fair Prices Rather than chasing bargains, focus on acquiring well-run businesses at reasonable valuations. Many of Buffett's best investments, Apple, Coca-Cola, and American Express, embody this approach. 6. Focus on Buying and Holding Low-cost Index Funds Buffett believes this is the simplest and most effective long-term investment strategy because it provides broad market exposure while keeping fees to a minimum, both of which are important for building wealth over time. 7. Temperament Is Key According to Buffett, success in investing is more about temperament than IQ. The ability to remain rational and stick to your plan, regardless of market noise, is what separates great investors from the rest. Resources Mentioned Retirement Readiness Review Subscribe to the Retire with Ryan YouTube Channel Download my entire book for FREE  The Snowball by Warren Buffett The Intelligent Investor: The Definitive Book on Value Investing by Benjamin Graham  The Giving Pledge  Connect With Morrissey Wealth Management  www.MorrisseyWealthManagement.com/contact   Subscribe to Retire With Ryan

Whiskeys: Peerless Toasted Small Batch Bourbon • Peerless Rum Barrel Finished Bourbon • Peerless Double Oak “No. 2” Single Barrel Bourbon • Peerless “Fruit Cocktail” Single Barrel Rye Tangents: Gabe and Jeff join us for a six-months-in-the-making episode about our favorite distillery from our Kentucky trip! • The basically ancient history of Peerless • Prohibition again! SMH • The Peerless mashbill recipes are protected by ninjas • Sorry Jeff, Scott will be singing the Honeycomb cereal song • Gabe smells his own leather corset • Apparently “brûléed bananas” and “foil-wrapped corn” are tasting notes now • Interview with Head Taster John Wadell • The Eagles ruined the Bears by stealing Buddy Ryan • John's Mom cooks for everybody at the distillery • The difference between sweet mash and sour mash • The reason Peerless doesn't reveal their ages and mashbills • Buy John's barrel aged coffee at www.staveandbean.com! • Apparently “Philly soft pretzel” is a tasting note now (but it's not urine-y) • Ed's part of the LBSKG community • Our first distillery cat! • Quince (Quint's?) is NOT a tasting note! • #thegrapesaresuss • Gabe and his brother mud wrestle for half a cherry • This is an ex-parent! • Ed considers committing a Class B felony to steal everyone's Peerless whiskey • We're huge in Singapore Music Credits: Whiskey on the Mississippi, Fireflies, and Boogie Party by Kevin MacLeod from https://incompetech.com/music/royalty-free/music.html

When we think of politics, I think a lot of us feel intimidated or like there isn't room for us in the process–we're not “political,” or we don't have time, or we're not the right kind of person. Today's guest shows that being an unlikely politician may actually be the best thing, and why we need more real people in politics (yes, that means you!) About Erin: Erin Oban is a lifelong North Dakotan and proud, Class B kid, raised in a farm family in Ray, ND. Her professional career has included experience as a middle school math teacher, in nonprofit management and educational leadership, and in politics and public service. In 2014 and again in 2018, Erin was elected to represent central Bismarck's District 35 in the State Senate. In 2022, she received an appointment from President Biden to serve as North Dakota's state director of USDA Rural Development, a federal agency responsible for making financing and technical assistance accessible to rural and Tribal communities across the country. When not engaging in issues of importance and finding ways to make an impact, big or small, in her community, Erin enjoys a cold beer on the patio with friends, a cup of coffee with a stranger, live music and comedy, traveling, and being comfy at home in Bismarck with her husband, Chad, and their son and favorite human, Evin. In this episode, we cover: How Erin became involved in the legislative world (kind of by accident!) Why voucher schemes and school choice don't help our small towns How every single one of us has something we can offer and something we can do about the things we care about Resources Mentioned: https://www.ndforpublicschools.com/ https://www.facebook.com/ND4PublicSchools Think Again by Adam Grant Small-Town Shout-Out! Wahoo to the unincorporated community of Guelph, ND (just a stone's throw from Oakes) for showing that no town is too small to do big, cool things when people care. Two cool things we're highlighting: Off the "Sheulph" Guelph purchased the old school building, where they host markets throughout the year and rent out the historic wood gym for events, and a young couple transformed the old train depot into a beautiful Airbnb, giving visitors a reason to come and stay. Good job, Guelph!! New Segment Alert! We think some of the best parts about radio shows and podcasts are listener call-ins, so we've decided to make those a part of the Growing Small Towns Podcast. We really, really want to hear from you! We're introducing two new parts to the show:  “Small town humblebrags”: Call in and tell us about something amazing you did in your small town so we can celebrate with you. No win is too small—we want to hear it all, and we will be excessively enthusiastic about whatever it is! You can call in for your friends, too, because giving shout-outs is one of our favorite things.  “Solving Your Small-Town People Challenges”: Have a tough issue in your community? We want to help. Call in and tell us about your problem, and we'll solve it on an episode of the podcast. Want to remain anonymous? Totally cool, we can be all secretive and stuff. We're suave like that.  If you've got a humblebrag or a tricky people problem, call 701-203-3337 and leave a message with the deets. We really can't wait to hear from you!  Get In Touch Have an idea for a future episode/guest, have feedback or a question, or just want to chat? Email us at hello@growingsmalltowns.org Subscribe + Review Thanks for tuning into this week's episode of The Growing Small Towns Show! If the information in our conversations and interviews has helped you in your small town, head out to Apple Podcasts, Stitcher, or Spotify, subscribe to the show, and leave us an honest review. Your reviews and feedback will not only help us continue to deliver relevant, helpful content, but it will also help us reach even more small-town trailblazers just like you!

The city of Dallas is suing 3M, DuPont and other chemical companies, alleging they contaminated some of the area's drinking water. The lawsuit alleges 3M and other companies manufactured and sold PFAS, often called “forever chemicals.” PFAS are known to be toxic, extremely persistent in the environment and capable of causing significant health risks. In other news, nearly one year after UTD students set up an encampment on campus to protest the war in Gaza, 14 were indicted on misdemeanor charges. Collin County District Attorney Greg Willis said in a Thursday news release that they were indicted on charges of obstructing a passageway, which is a Class B misdemeanor; for the third time in four years, the Dallas Cowboys used their first-round pick on an offensive lineman. Alabama's Tyler Booker was the choice at No. 12 and will be asked to follow in the footsteps of Zack Martin at right guard, the future Hall of Famer who announced his retirement in the offseason. And each year, more than eight hundred million tons of greenhouse gases are emitted across the state of Texas, a Dallas Morning News investigation found. The Lone Star State ranks top in the nation for carbon dioxide emissions. Experts say those emissions have had a significant impact on climate change. And those changes are impacting everything from temperatures –  the average annual temperature of Dallas has risen by as much as three degrees Fahrenheit the past century – to weather patterns that create drought and wildfires.  Efforts are underway to curb emissions and find new sources of energy that place less strain on the environment, but supply chain limits, safety risks and partisan divisions among lawmakers have presented challenges. Read the full investigation – A Changing Climate – at dallasnews.com. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Recreational use of the Class B drug doubled in 2024. A Sunday Times investigation has looked into where it's coming from and why it's so hard to police.This podcast was brought to you thanks to the support of readers of The Times and The Sunday Times. Subscribe today: http://thetimes.com/thestoryGuest: Katie Gatens, Commissioning Editor, The Sunday Times News Review.Host: Manveen Rana.Producer: Olivia Case.Further reading: One gram of ketamine and its 4,000-mile journey to the UK. Further listening: The truth behind the drama AdolescenceIf you or someone you know needs drugs help or advice, visit talktofrank.comPhoto: Getty Images. Get in touch: thestory@thetimes.com Hosted on Acast. See acast.com/privacy for more information.

Keith discusses the shift from a six-figure to a seven-figure income being necessary for a comfortable lifestyle and argues that a $5 million net worth is a minimum for financial security. He explains the benefits of leveraging a car loan for arbitrage, using a 3.99% interest rate to invest in real estate with a 20-25% total return. He also discusses the current state of the real estate market, noting that home prices and rents are expected to increase by 3-5% annually. Lower mortgage rates could increase affordability and bring more buyers into the market, potentially leading to higher home prices. Two-bedroom rents have increased by 3.7% nationwide, with significant growth in Nebraska metros. Resources: Get our wealth-building newsletter free— text ‘GRE' to 66866 Show Notes: GetRichEducation.com/548 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching:GREmarketplace.com/Coach Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai    Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold today, why earning a seven figure income is the new six figures? Then a discussion on the direction of real estate prices and rents. I just bought a car though I could have paid all cash. Why did I get a loan instead? Then learn about how to perform due diligence on buying an income property with the pros and cons of turnkey real estate investing and the mistakes you must avoid today. On getricheducation.   since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, and delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show, guess who? Top Selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit get rich education.com   Corey Coates  1:20   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:36   Welcome to GRE from the first State of Delaware to the 50th state of Hawaii and across 400 nations worldwide. I'm Keith weinholden. This is get rich education, the voice of real estate investing Since 2014 Are we really gonna change the name away from the Gulf of Mexico? Well, I'll tell you one thing. There is zero history of hurricanes in the Gulf of America, therefore, I expect the appropriate adjustment to my insurance premiums big savings. Hey, you know, despite being a geography guy, I'm really not emotionally invested in this movement to change the names of giant pieces of real estate like Denali back to Mount McKinley and the Gulf of Mexico to the Gulf of America. It's only a little interesting to me. I mean, there are just more significant things to concern oneself with. So call it either one. I don't care. I know what you're talking about. Before we talk real estate, let's discuss your personal finances. I recently watched Dr Steven Franson speak surfacing this topic, and it got me thinking, when it comes to annual income, is you earning seven figures like the new six figures. Now, I guess that earning six figures could still be a short term goal to some people that are new to the working world, but maybe as little as a decade ago, having a six figure income was aspirational, or even a sign that you made it, or could even feel wealthy. I remember that today that is so far gone. Now, of course, it depends on where you live, but today, you need 50k just to survive. Your housing would be pretty standard in that case, and I don't know that you could get much fresh, healthy food at 50k per year, you might still have to be living with your parents. You need 100k just to sort of live. Perhaps that's if you're single and you're near the coasts, or you're married without children today, you need 200k for a life with travel and some dining out. I mean, you couldn't really even ball out on your vacations, like on 200k you're gonna balk at 500 bucks a night for a resort hotel. I mean, you're staying at more of a hotel than a resort, but at 200k of income, you can usually do some discretionary spending. At 300k in a lot of places, that's what a full family needs, a household with kids in order to live a little bit beyond that, and that's a combined income both spouses. If you make 450k today, now you're able to travel pretty well. You're probably still flying coach more than first class at 450k you may or may not be paying for the airline lounge, but you are staying at some comfy hotels. You really need to make $1 million a year today to live pretty close to all out fly first class travel well. But you're still flying commercial on a million dollar salary. You're not chartering anything. If that has not bought you time to cook, you can afford an executive chef with a million dollars so that you don't have to eat restaurant food. You know, restaurant food, even at finer restaurants, is laced with seed oils. This is why what used to be a six figure lifestyle is now a seven figure lifestyle. My spin here on this also is whatever you do at any income level, 50k a year to a million bucks a year or more, buy enough time to exercise that's something that's going to matter both to you and to those that you love over the long term. All right, so that's income. How about when it comes to net worth? There is a minimum amount in my mind that you need to have in net worth for me to say that you've got it made in America today. What do you think that number is? How about that? What do you think is the threshold? What's your thought? It is $5 million that is just a starting point, a minimum net worth that you need, if you just invested that you could probably live off its income for the rest of your life. For most people, compound interest will not get you to the $5 million net worth Mark anytime soon. Only leverage will. But yeah, after the COVID induced wave of inflation years ago, you've gotta recalibrate what you think of as a lot of money, and some people haven't caught up with this still. Now, I was on that great riverboat tour of Chicago not long ago. I think I brought this up to you in a previous episode, but you know, one thing that struck me as odd was that the tour guide, he was describing Chicago skyscrapers and the architecture around us, and he said they poured millions into that project. I mean, really emphasizing that millions were spent. I mean, today millions can mean as little as 2 million. That's an amount so tiny today for a construction project that what is that like, four average homes would be $2 million I mean, some entire counties in the Bay Area have a median home price of more than $2 million just one mediocre home. So let's talk about the direction of home prices and rents nationally here. Now I do not think that home prices or rents can really climb a whole lot over the next year, like 10% appreciation. I don't see it now. I also don't see how home prices and rents could fall substantially. The reason that prices cannot spike dramatically, it's still due to an affordability constraint, and I don't expect that prices or rents are going to fall a good bit either, or really fall significantly at all, because housing demand still exceeds supply. So that's the constraint on the downside. Really, nothing has changed there. The average for sale home today, it gets between two and a half and five offers that obviously depends on the area, so you keep seeing both prices and rents increase at this range of three to 5% that's the zone that we're in now, and we've been in that zone for most of the last Two years. Really pretty modest, not exciting, appreciation rates. Zumper tells us that two bedroom rents are up 3.7%   nationwide. Rents have actually declined in some Sunbelt cities, Durham, North Carolina and Nashville are some big losers I was describing Austin to you a few weeks ago. Do you know that two national leaders in rent growth are both in the same state. Yes, these two cities are both up more than 20% in rents year over year. It's in the Midwest. Any idea where I'm talking about it is Lincoln and Omaha, Nebraska both up over 20% and perhaps recent GRE listener guest grant Frankie is happy about that. He's the only person I know that invests predominantly in Lincoln, and this is due to strong job growth and also that supply that still hasn't kept up with demand. Now back to my point about how nationally, both rent growth and price growth are still pretty modest, which is still a highly profitable formula for a leveraged investor that bought right But historically, it is kind of boring. Many believe that as soon as mortgage rates fall sharply, and a lot of surveys show this, if. That five and a half percent is the magic mortgage rate level that will increase affordability so much that home prices will soar. I'll tell you my spin on that is maybe even that remains to be seen from listening to me for 10 and a half years now, you know that the direction of the economy has a substantial effect on housing, rents and prices, a force bigger than just mortgage rates. And when mortgage rates fall and other interest rate types fall, that usually means that the economy needs the help, which might mean that employment is down. If employment falls, home prices can still rise. They usually do, but perhaps not as much as you thought they would. So my point is, is that when mortgage rates fall significantly, that does not automatically translate into soaring price growth. Again. You gotta take history over hunches. If there's one thing that feels a little different in this cycle though, it's that we do have this palpable amount of pent up housing demand, so lower rates really could bring a lot more buyers off the sidelines. So therefore, it is possible that home prices will soar if rates really plummet. It is just not axiomatic. Now I just bought a new car, though I could have paid all cash. I chose to get the loan. And before I tell you about why I considered not getting a car at all and just using Uber Lyft ride sharing services forever. But sometimes I like to go off the beaten path and trek in some remote places. So that just wouldn't work. I also travel a good bit, and I considered not owning any car that's tethered to just one place. It's just not that efficient. But it came down to freedom. I enjoy my freedom and autonomy to hop in my own car and drive it on a whim. Though I could have paid all cash for this new car purchase, I chose to put the minimum amount down, and I got a loan for about 95% of the cost of the car. Why would I do that? Car debt is surely not as good as real estate debt. With car debt, I have to repay my own loan. I cannot outsource these car debt payments to tenants, and the payment is about $900 a month. I'll have to pay all of that myself. Also, unlike real estate, a car is a depreciating asset. Unlike mortgage interest, car loan interest is typically not tax deductible either. I'm not going to rent this car out through Toro and try to get an income stream off the car. Nothing like that. So this might sound like three strikes against a car loan. I've got to make the payment myself. It's declining in value, especially as a new car. It starts depreciating fast as soon as I drive it off the lot, and I'm not going to have any tax breaks. Oh, come on. I mean, that might sound like bad debt to a lot of people. Leading GRE I am a staunch advocate for good debt. So why did I embrace a car loan to the maximum leveraged amount? Because I am making my car loan good debt. The definition of good debt is debt that makes money for you. Car loan debt is secured, meaning there is underlying collateral, the car itself. And by the way, credit card debt is an example of unsecured debt. The big reason, though, is the financing through the dealership BMW is a 3.99% interest rate for five years, my credit's perfect. So I got a good rate there. Therefore this car loan is a simple arbitrage play. I'm borrowing at a lower rate to invest at a higher rate. Look, even if my car loan rate were double 8% I would probably still get this car loan, but it's 3.99How do I have confidence that I'm going to beat that on an annualized basis over the next five years? Well, first future inflation expectations are elevated, like I touched on on last week's show, if true, inflation the real diminished purchasing power of your dollar over the next five years is 4% I mean, that's a break even for me, right there already, but I'm gonna do a lot better than that. As a real estate investor, I know that instead of sinking this money into the car, that's enough of a down payment for a rental single family. Home or almost a low cost duplex, and being cognizant that real estate pays five ways, I expect a minimum of a 20 to 25% total rate of return with low risk. Now, if you're a new listener, that last part sounded far fetched. I know that's okay. You just don't know how to calculate your ROI for an income property with a loan. Yet another way to describe my strategy here is though I could pay cash, why would I tie up that many funds in a car? So I'm cognizant of opportunity cost. Opportunity cost means that you're missing out on a greater benefit when you choose one option over another. This loan approach also keeps me more liquid. Look, keep your money. Don't give it to a bank. Make your bank take five years to get all the money, while my $900 monthly payment stays fixed the whole time as inflation just keeps relentlessly debasing the bank's payment that they get from me. I mean, with that part, it works the same way as it does in real estate or any fixed rate loan that you could get. Be mindful, by paying all cash, you would not improve your net worth at all. Nothing happens to your net worth. Paying all cash reduces both your asset column and your debt column by the same amount, and it hurts your liquidity. Now, if you've got an emergency, you could be in a case where all of your funds would be gone if you paid all cash, they're inside the car, and you might not be able to extract them back out. All right. Well, what about the depreciating asset part of this equation? That's what most cars are. Well, just like a piece of real estate, your car's value will rise or fall regardless of your equity position. That doesn't influence it at all. So I will be underwater on the car. That's a way that some people might look at it. That means that I'm going to owe more on the balance than the car is worth. That appears irresponsible to some people. Well, yeah, that just means that the bank's money is tied up in the car, not mine. I've got it off giving me a good return. Look, when you have loans, you have another type of leverage, and it's not the mathematical type that I often discuss here. I mean, have you ever owed a friend money when something untoward happens? Who is motivated to talk between the two of you? You are your friend, your friend. They're going to be the one that's willing to work with you and help you out. They've got to give you levers when there's a mal apropos occurrence and the borrower loses their job or has a medical disaster and a huge bill, the person that's owed the money is always going to keep communication lines open with you, you as the borrower, are the one that is in control. Keep your debt on, keep your own money, stay in control. And how is this car loan making money for me, if I get a, say, 23% total return from income property and keep paying a 4% car loan, that is 19% arbitrage, I mean, what an easy choice. Again, the definition of good debt is debt that is used to increase your wealth. So getting the Max car loan allows me to avoid paying that opportunity cost of having all the funds tied up in a depreciating asset. And that is how a real estate investor buys a car. Now you're a smart investor. I mean, we have a really wise, responsible audience comprised of people just like you. But what would be some reasons that a real estate investor should pay all cash? Because there are some, and a lot of them revolve around, if you're financially irresponsible, if instead you got a car loan so you could stay liquid and maintain your life as a profligate and reprobate gambling degenerate and lose it all on sports gambling through the freaking Draft Kings and FanDuel apps. Okay, that's not a good reason. But as a GRE listener, that probably is not you. I was probably not talking about you, right. There another reason to pay all cash rather than getting the loan like I have, is if you don't have the liquidity to service the 900 Dollar monthly debt payment yourself, you could be over leveraged. See the chunk that I'm investing in real estate instead of the car that real estate will produce income for me, but it actually will not produce as much as $900 in cash flow to fully offset the car payment. Now it's going to produce a few $100 but my arbitrage is being created with the summation of all of real estate's five profit centers. I've got the whole shebang now, the leverage appreciation, the cash flow, the ROA, the tax benefits and the inflation profiting all coming at you. All five. My liquidity comes from elsewhere. A third reason why a real estate investor would want to pay all cash for a car is because say that you would effectively be forced to pay all cash for the car. Because if you took on a $900 monthly payment, that would dent your mortgage loan qualifications, debt to income ratio that mortgage loan underwriters are going to look at it would hike up your DTI so much that you couldn't qualify for future income property loans. So right, there are, what was that? Three reasons that a real estate investor would want to pay all cash if they could. But let's not lose the bigger point I was talking about the exceptions there. The bigger point is that consider getting the maximum loan for your next car, or even getting a loan against your current car if you already have one without any debt on it. It's actually a rational approach, because you want to consider the loan first, since this is your money, you earned it, approach it with the strategy first of keeping your own money that you traded away your finite life's time for. Think of keeping it first and only then consider giving it away next. I am getting the biggest car loan that I can and making the minimum monthly payments all 60 months five years, I did the same thing with my last car. It is an easy choice for me in just one word, it is for the arbitrage one word, most experienced financiers and real estate investors have not been exposed to those ideas that I just shared with you, and at the least, I am confident that I just gave you something to chew on mentally. There I've been talking about the intersection of your personal finances and real estate investing. Today, I'm your host, Keith Weinhold here on episode 548 of the get rich education podcast    what have GRE listeners been doing these past few weeks, they have been scooping up BRRRR properties, employing the buy, renovate, rent, refinance and repeat strategy fueled by GRE 's recent live event. You can watch the video of the event on demand right now, get an understanding of the strategy, see why it's so lucrative, and if it interests you, even get you paired up with actual property addresses conducive to the strategy. You can do that at GRE webinars.com this event can indelibly elevate your entire socio economic class and shape your legacy. That is a deep statement. Hey, this is what 8x leverage and $500 plus of cash flow on each single family rental property can do for you with the burr strategy in Cleveland. I mean, how much earlier will this allow you to retire? The event is free to watch. You can watch from home. I mean, come on, what else are you going to do at home tonight? Spend that time cleaning out your closet or smoking meats. Maybe at least, spend that time getting a car loan. What's the opportunity cost of you smoking meats tonight when you can actionably Build a real estate legacy with the BRRRRstrategy? Strategically outsource the meat smoking to somebody else. That's what I do. It does not take much to get started. These pre renovated homes are often about 60k some GRE followers have already bought two or three at a time. You'll see Jerry's investment coach Naresh and event co host Phil. I mean, just watching him talk is amazing. Phil is America's preeminent authority on burr real estate investing. Again, you can watch the event right now, and I don't know how long we'll keep it up for, just visit GRE webinars.com    Next fatal mistakes that you've got to avoid when buying income property with some vital due diligence tips. I'm Keith Weinhold. You're listening to get rich and. Vacation.    You know what's crazy? Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns, and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it. If I wasn't invested myself, you can invest as little as 25k and you keep earning until you decide you want your money back. No weird lockups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing, check it out. Text family to 66866, to learn about freedom, family investments, liquidity fund, again. Text family to 66866    Hey, you can get your mortgage loans at the same place where I get mine, at Ridge lending group NMLS, 42056, they provided our listeners with more loans than any provider in the entire nation because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. You can start your pre qualification and chat with President Chaeli Ridge personally. Start Now while it's on your mind at Ridge lending group.com that's Ridge lending group.com   Robert Kiyosaki  26:49   this is Rich Dad, Poor Dad. Author Robert Kiyosaki, listen to get rich education with Keith Weinhold. And the reason I respect Keith, He's a very strong, smart, bright young man.   Keith Weinhold  27:10   Welcome back to get rich Education. I'm your host. Keith Weinhold, it's been a while, but I know that I shared with you before that my first ever out of state rental property that I bought ended up being a loser, and this is despite the fact that the turnkey provider and property manager that I was hiring for the property, they even told me not to buy the property because they couldn't keep it occupied in that neighborhood, and they told me to buy a different one instead. I didn't listen. I bought it anyway, and I lost we couldn't keep it occupied, so after a few years, I sold it to an owner, occupant, family for a small profit, but it was after years of negative cash flow, so there really wasn't any profit there, because, like I just said, we couldn't keep it occupied with a rent paying tenant that was back in 2012 near Fort Worth Texas. I bought it because it was cheap, just 153k and it looked pretty. It was brick. Those are both bad reasons to buy. Cheap doesn't always mean good. And the fact that a property looks pretty, I mean, I guess that's a somewhat good thing, but it should not be a deciding factor. I was never going to live there facts Trump feelings in investing. So my first bad experience was totally avoidable. I can only blame myself. Let me tell you about some other fatal mistakes to avoid, as we talk about some turnkey real estate investing due diligence. Since turnkey means all done for you, or another way to describe the property is a rent ready property. You know that word turnkey? It's sort of this compelling, even seductive buzzword, and it just might make you think that, ah, everything is just handled now and forever. It's gonna sail along just fine. No, it won't. Now, this is the type of investing that can change your life. This is the real estate pays five ways. Compound leverage Trumps compound interest, type of vehicle. Financially free beats that free type of vehicle. You're winning the inflation Triple Crown all those great, formulaic GRE mantras, but you better check to make sure before you get too far into it. And that's why we're talking about vital due diligence here. I think you know by now that turnkey, it means a property that's really just got three things. It's already renovated or new. Secondly, has a tenant in it, and it has professional property management from day one. Now, the property providers at GRE marketplace, they are some of the good ones. They have good reputations. Many have been in business for a long time, but some others do not. So what about a provider? Provider that's in, say, Oklahoma, but you live out of the area on one of the coasts, and this Oklahoma provider, they're trying to pass off a property in Oklahoma City or Tulsa to you, it's actually in a class D neighborhood the worst. And they're sort of presenting it like it's a Class B minus neighborhood, right? How can you hedge against that? How can you know that things are not being misrepresented to you? Well, of course, everyone knows about Google Street View. You're probably going to look at that first that's going to tell you about the street scene. It's free to use a paid service that gives you neighborhood analytics. Is it neighborhoodscout.com you want to verify crime rates in areas, income levels, poverty levels, education levels and school quality to make sure that the property characteristics are what you are being told, and some of those attributes always matter with property. I mean, crime rates matter because even though you're not living there so you're not going to be able to retain respectable rent paying tenants that would tolerate a high crime neighborhood. Understand, though, that not all crime data is the same. Violent crime is probably the worst shoplifting, I'll call that in the middle. And then most traffic violations, they're light crimes. Now, if you're buying a single family rental type, of course, the quality of the school district, well, that's going to matter more than if you're buying a building of little efficiency apartments where the school district hardly matters there, because you're not catering to families. I've mentioned before that we go look.com. Is a service where you can hire an independent inspector, not even a real estate related person, necessarily, but just an independent on the ground inspector to just go check out a neighborhood at any hour of the day or night. Now, if you have any question about the out of state neighborhood that you're buying in an easy way to get a check on the decency of the neighborhood is something really simple. Make sure the turnkey provider owns properties in the area that they're selling to you. This helps ensure that they're not offloading their problem properties onto you. That's something that's probably only going to happen with an inexperienced provider that doesn't have a reputation to protect yet. But when it comes to neighborhood quality, once I'm pretty serious about buying a property, do you know who I usually get reliable information from? And it's virtually free, and you're contacting this party anyway, so it's so easy for you that is just simply ask your property inspector. I mean, you always want that independent, certified Property inspector to walk inside every room of your prospective purchase, and they make that punch list for your seller before you close that's on either a renovated or a new build property always get that inspection. I've talked about that before, and that often costs $500 or less on a single family home, and today it's about $800 or less on a duplex, well before my inspector even checks out the place. I like to let them know that I live outside the area, and I want their insight on the neighborhood as well. I mean, inspectors live locally there, so they'll probably be able to give you a good answer before they even do your physical inspection. They already know the area really well, and it doesn't even cost you any more above your normal inspection cost to just get a little on the ground intelligence. And of course, your inspector works for a company independent of your property provider, so their information should be unbiased. They work for you. Now after the inspection, how about your appraisal and some due diligence with that, what if your appraisal comes in low. Everyone wants to talk about if your appraisal comes in high, that's instant equity that you have, but see if the appraisal comes in low with a turnkey property where everything was renovated, that may or may not be a problem, because the comparables that were used for your valuation, they don't have everything renovated in them like your property does. So the subject property, the one that you've got under contract to buy that could very well have a lot of say, new plumbing, electrical, HVAC, the roof, bathrooms, paint, flooring, lighting, kitchens. I mean, most, or all of those components could be new in yours. It's common for yours to have all those components, and then the comparables do not have those now, you and your seller, you will have to negotiate on who's going to close the appraisal gap. I've discussed that part on a previous episode, but I'm point. Out how you can still be getting value even when your appraisal is low and it's worth it. Down the road, you're going to have less maintenance headache than your appraisal comparables will most of the time. Turnkey properties are renovated to cover major systems, and that means you do not have major expenses. Soon these expenses get wrapped into your mortgage payment, and that's a lot better for you than coming out of pocket three years later to replace an entire roof. Another thing to keep in mind is that a property provider that's been in business for a lot of years, they do not have interest in selling you a lemon of a property and hurting their reputation, but that seller does have a little interest in getting the maximum dollar. I mean, that's almost intrinsically natural in human beings. I mean, everyone has that motivation, just like you do when you sell your property down the road. So these rent ready or turnkey properties, they're almost always better if you're a busy professional or you just want to spend your time doing something else. I mean, I think that's a pretty well established concept in the investing industry, but I really think these rent ready properties, they are better for even more people than just busy professionals. I mean, consider the alternative, if you try to screen and identify a property yourself and do all the rehab and manage the contractors. I mean, first of all, you can be dealing with a hard money loan where you're paying four or five points plus a 12% interest rate, since that's all that's available for distressed properties, and unless you have experience managing contractors, oh, boy, you could have construction timelines that go over by several months. Well, now that can eat a huge portion of your investment that you thought you were making. You're paying 12% and you have no tenant all this time, but instead, when you buy a rent ready property, and you've got the best mortgage rates and terms from day one, and you've got a rent paying tenant from day one, and not all these headaches and time lost and contractors are trying to manage with turnkeys at GRE marketplace, those rehabs are done by crews that work full time for the turnkey provider, so they work at more affordable rates than what you could get as an out of state buyer if you're trying to patch together contract and crews yourself. So at scale GRE marketplace providers, they're also dealing with the same material types over and over again, so they're faster at doing it. The materials are also reliably sourced. You won't have the 10s or hundreds of hours managing all this, checking with the rehabbers, checking for quality control, making sure the amount of work that you were paying for was actually done. I mean, some people listen to this show and they had that real estate pays five ways, epiphany, that big light bulb moment, but then they try to do this rehabbing and investing themselves to save a few dollars, is what they thought, and it's rarely worth it. So avoid the massive time commitments with all this. I mean, you're also going to be doing other things, coordinating inspections and permits with city municipalities. I mean, what a nightmare. GRE marketplace providers, they've already done all of that for you and more now that you've bought the property, all right, what about the potential for poor management? Choosing your property manager is of utmost importance, because that person or firm, they're going to vet your tenants, handle the repairs, collect your rents and take care of any other issues at your rental property. They'll understand the local landlord and tenant law, you're going to be seeing the property infrequently, if you ever see it at all, so keeping an eye on things becomes key. Now, once you own the property and you have the tenant in there, there is always the potential for your property manager to do a poor job, costing you money, making your investment less lucrative, I like to ask my manager if they do regular property inspections, like getting inside the unit every six months. Now, you can read online reviews, like the star reviews, the number of stars for property managers. I mean, that could be helpful. It can also quickly get misleading. You can get a lot of bad reviews on an adequate manager. Because property management is such a tough job, I think that one of the best things you can do when vetting a property manager is to ask a friend. A lot of people don't have that option. So then do a search on the bigger pockets. Forums for your prospective property manager. So read reviews. Don't just look at star ratings. And I'll tell you, property management is one of the few areas in my life where I am willing to accept a service level of adequate or mediocre. Almost no one raves about their property manager, but I do have managers because they are the guardians of my quality of life, of your standard of living. We want them to serve our tenants, but I don't want 80 tenants being able to text message me. So there you go, armed with a number of due diligence items that can help you make sure that you buy your next income property, right? GRE marketplace, we typically connect you with the experience providers, but I'm telling you this because it's prudent to do some checking on your own and inquiring like this too, in case you have any doubt. Now, you notice on GRE marketplace, where you can connect with free investment coaching as well, that the properties, at times, they seem less expensive than you would expect. Why is this? Well, investor advantage markets, they have low prices. I mean, that's just one reason that they are investor advantaged like Ohio, Indiana, parts of Pennsylvania, Michigan, Missouri, Kansas, Nebraska, Tennessee, Arkansas, Georgia, Alabama, Oklahoma, Texas and some of the other Mid Atlantic states And Florida, another reason the GRE market prices seem low is that there is no agent that has to be compensated. It is a direct model. Another reason is economies of scale. Providers provide homes in bulk, so there are savings that way, and there also aren't any owner occupied emotions evolved with income properties. Those emotions can run up the price, or what they really do is they keep it stuck at a high price. So to help you review what you've learned today, a seven figure income is the new six figures. Real estate prices and rents just keep moving up, but modestly for the time being, a car loan can be good debt when you have a reasonable expectation that you can create arbitrage and sufficient liquidity in your life. And though income property is perhaps the most proven wealth generator ever, there are some mistakes to avoid when it comes to buying right between the guidance that you have today and the help of our completely free investment coaching another safety layer. If you're confident that it can benefit you, I encourage you to engage and move at the speed of instruction. It's the only way that you'll benefit I built this resource. I really wish it existed when I started out, and it's available for you at GRE marketplace.com, until next week. I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 1  43:18   Nothing on this show should be considered specific, personal or professional advice, please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Keith Weinhold  43:42   You know, whenever you want the best written real estate and finance info, Oh, geez. Today's experience limits your free articles access, and it's got paywalls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters. And I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long. My letter usually takes less than three minutes to read, and when you start the letter, you also get my one hour fast real estate video course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text GRE to66866, while it's on your mind, take a moment to do it right now. Text GRE to 66866.   The preceding program was brought to you by. Your home for wealth, building, getricheducation.com.    

This week on the RV Podcast: Why do Class B RVs cost so much… are the high-end ones really worth a quarter of a million dollars? If you're headed to the Big Bend National Park in Texas, be aware that you're not alone. hundreds of Federal troops are now patrolling there - on foot and in armored vehicles. RV Travel Tips to make your drive less tiring and more enjoyable All this plus the RV News of the Week  and Mike & Jen's RV Storytime showcasing Jennifer's nerves of steel... all coming up in Episode 541 of the RV Podcast

Plus: European central banks make rate decisions a day after the Fed's. Class B shares of Warren Buffett's Berkshire Hathaway close at a record high. And the family of a Boeing whistleblower who took his own life filed a wrongful-death lawsuit against the company. Pierre Bienaimé hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

  Matt Waldman discusses the tight end prospects from the 2025 NFL Draft in this RSP Solo Cast.   https://youtu.be/rzy6Xy_K6eU Topics State of the tight end in the NFL. Recent tight end classes. Does the prototypical tight end even exist? Quick hits on 23 tight end prospects from the 2025 NFL Draft class. Now entering its 20th season, learn more about Matt Waldman's RSP  — the most in-depth analysis of offensive skill position players available (QB, RB, WR, and TE). Or if you already know the deal, go ahead and pre-order (you know you want to) for $21.95.  Matt's new RSP Dynasty Rankings and Two-Year Projections Package is available for $24.95 If you're a fantasy GM interested in purchasing past publications for $9.95 each, the 2012-2024 RSPs also have a Post-Draft Add-on that's included at no additional charge.   Best yet, proceeds from sales are set aside for a year-end donation to Darkness to Light to combat the sexual abuse of children.  

Jason Balara is the CEO and Co-Founder of Lark Capital Group, a real estate investment firm that focuses on Class B and C value-add multi family in the south east region. In addition to his real estate endeavors, Jason is also a veterinary surgeon and has utilized intense focus to hone his practice over the past 12 years. Jason's goal is to allow passive investors, mainly those who come from the medical field, like him, to grow their wealth by making smart investments in multi family properties. Connect with Jason: https://www.larkcapital.com/team/jason-balara Highlights: 1:22 - Jason's Background, Passions 8:55 - Balance Price Range for Potential Businesses 11:25 - Construction Business Strategies 16:19 - The Hunt for New Leads 23:30 - Buiness Levels, Management Teams   Quote: "Real estate never left me, I always saw ownership as being a way to get ahead."   Recommended Resources: Accredited Investors, you're invited to Join the Cashflow Investor Club to learn how you can partner with Kevin Bupp on current and upcoming opportunities to create passive cash flow and build wealth. Join the Club! If you're a high net worth investor with capital to deploy in the next 12 months and you want to build passive income and wealth with a trusted partner, go to InvestWithKB.com for opportunities to invest in real estate projects alongside Kevin and his team.  Looking for the ultimate guide to passive investing? Grab a copy of my latest book, The Cash Flow Investor at KevinBupp.com.  Tap into a wealth of free information on Commercial Real Estate Investing by listening to past podcast episodes at KevinBupp.com/Podcast.

Some landlords of Class B and C apartments were not concerned with tenants' immigration status, and many rented to undocumented individuals over the last few years. Today, stricter immigration policies have notably impacted occupancy rates in workforce housing, especially in areas with a high concentration of older apartment buildings. Are you ready to unlock the potential of Multifamily Syndications? Discover how Michael Becker's proven real estate syndication business can open doors to financial growth and long-term success. Visit SPIADVISORY.COM today and start your journey toward smarter investing!