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The Cardone Zone

096: The Ten Commandments of Retail

The Cardone Zone

Grant Cardone

Careers, Business, 025610

4.84K Ratings

🗓️ 7 November 2013

⏱️ 46 minutes

🧾️ Download transcript

Summary

Transcript

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0:00.0

Don't let me get in my zone. Don't let me get in my zone. Don't let me get in my zone. I'm definitely in my zone.

0:15.0

Hey, Grant Cardone here. Welcome to the Cardone Zone with News 96 5 every Sunday night.

0:21.0

I come to you talk about your money, your finances, and your business. Jack Dorsey, Evan Williams, Dick Costello.

0:28.0

Do you know these names? Do you know the name Twitter? Yes. Jack Dorsey, 23 million shares of Twitter, Evan Williams, 46 million shares of Twitter, Dick Costello.

0:43.0

CEO has 7.5 million dollars. The low man on the totem pole made 300 million today in paper.

0:52.0

Hi, man. Evan Williams, original founder of Twitter, 46 million shares worth 1.6 billion dollars. Folks, do not buy shares in Twitter if you haven't learned how to use Twitter.

1:05.0

Okay. You chase him. You chase him to dream. The money's been made. The wealth has been created. The next thing that will happen is your wealth will be destroyed.

1:15.0

This is Grant Cardone on Twitter. I'm at Grant Cardone and I'm telling you leave the Twitter stock alone. Give it six weeks. Look at it then.

1:25.0

There's almost a guaranteed chance of six weeks for now. It's lower than it is today. In fact, Zenga, Groupon, and Facebook all fell within six weeks of the IPO lower than they started at.

1:38.0

If you remember, Facebook was down 50% for over a year and a half. It was dead money. I mean, today if you held on from the original 35 all the way up to $51 today, you'd be making money.

1:51.0

But the whole time you'd have been screaming, freaking tripping, losing your mind, your wife's yelling at you. What'd you do buying it? Facebook at $35, chasing it up to $44. Now, now, win down to 19. See, truth is, those people already sold and dumped.

2:06.0

And probably didn't make the money all the way back to 51. Folks, leave Twitter alone. That's not how you make money. If you don't know anything about internet technology stocks, if you don't understand the company and only understand the Twitter symbol that is TWTR.

2:21.0

If that's all you know about the company is that it had an IPO today, initial public offering, look, leave it alone. Don't do it. There is so much market.

2:32.0

What's the word? The market disruption going on right now with products and services. Many of these companies remember my space gone. It's over with.

2:41.0

What about your own business and your own brand invest your own money and time and energy and resources and worry headaches and and nights up focused on your business, your core business and your core brand and worry a little less about Twitter.

2:56.0

Now, the same day that Twitter goes public, a company called Blockbuster, I don't know if you guys even know Blockbuster, agreed today to close every one of its stores. It's done with the DVD. It's going completely digital.

3:12.0

What can you do? What can you learn from Twitter? What can you learn from Blockbuster? What can you do to grow your business every week? I come to you on news 96.5 here in the Cardone Zone and I give you ideas, strategies, tips, things you can do, the way you need to think, the way you need to approach the market right now.

3:28.0

Morgan Stanley came out the same day that Twitter was announcing his IPO and said this holiday season could be very difficult for anybody that's got a storefront.

3:39.0

Same day, the Blockbuster closed their storefronts. By the way, if you're investing in real estate, I would definitely leave brick and martyr retail real estate alone. You've heard me say that here before. Stay with your multifamily.

3:55.0

It's a guarantee play because people have to have a place to live. Blockbuster does not have to have a store to sell its videos from anymore because it can go digital.

4:06.0

So here, Morgan Stanley comes out the same day and says, hey, retailing could be very difficult as the consumers getting spin out, overspent, they're running out of money.

4:16.0

Even though we have some, what appears to be some economic contract expansion going on right now, the predictions correct or not suggests that the retailer could have difficulties every week.

...

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