6 Things I’d Do If I Were To Win The Lottery Video

Winning the Lottery

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hey everybody how you doing I’m dr.Boyce Watkins from the black wealth boot camp and I wanted to talk about the lottery you know a lot of people ask me recently you know what I would do if I won the lottery you know I guess as a finance professor the way I would think about money might be a little bit different from everybody else but maybe maybe not maybe not but I thought it would be fun to kind of fantasize you know that that’s what it is that’s what that’s how it with a lottery sells you they sell you a fantasy in fact I remember one time observing how in one of the for one of the the lottery things the Powerball things every person that came up every customer who bought a ticket they would sell them the ticket and they would ask them the question they would say something like would you want your money over the long term or would you want it in one lump sum and the person had to decide right then if they wanted their money in a lump sum or if they wanted it over the long term I don’t think they really needed to ask that question I think that was a less somebody might call a a mind blank if you seek a you know you know what I mean like they’re they’re kind of school with your mind a little bit because basically what they’re doing is they want you to fantasize and say oh gosh I don’t know I don’t know what I would do if I got the money because I would see people when they would ask them that question they would really think about it as if they really thought they were gonna win they were like oh no I mean I mean how much would it be well okay well well you know I could if I got the money now if I get it all at once I probably spend it right there fantasizing and what they’re doing is they’re selling you a dream and that’s what the lottery does the lottery sells dreams in exchange for real money which is why I generally speaking the lottery is just not a good investment most economists will tell you that investing your money in lottery tickets consistently is not a good long term strategy you better off putting your money into other kinds of investments that election money grows slowly so don’t try to get rich quick in the world try to get rich slowly but but anyway since we’re having fun with fantasize and somebody asked me um what would I do if I had the the the big Powerball I think right now it’s over a 1. 5 billion or something crazy like that so what would I do if I won the Powerball okay well let me go down the list number one I will probably build a chain of schools for African American children all across the country I would you leverage maybe 50 50 mm million 80 million or something into not just developing the infrastructure for the schools but really use that to get additional financing to allow us to really invest hundreds of millions into building these schools I into marketing the schools to get donors to come into the school you know because you see where it was left to Ron Clark Academy they got the kids dancing and all that stuff teachers dancing with the kids it’s really helping in terms of the marketing for the school letting them know that you know what they’re doing is actually it appears to be working the kids got uniforms they look well educated so it wasn’t just the dancing that they offered but the dancing was a way to bring people in so I would probably you know create a really good marketing team to help me market the chain of schools to create the demand from the parents so that they would come to the school and and and I would probably have you know schools in it maybe I don’t know 50 major cities or something to begin with a higher grade teacher stuff like that but again I don’t even know if 80 million would cover all of that but again you know eighty million can be leveraged into a couple hundred million or more and also of allow you to bring in some donations so you can actually do something with that and the schools will be built on the idea of a building empowered about african american people you know and and young people right to prepare for the next generation the second thing I would do is I would start as a tech incubator where basically I would have a competition I would get some leading business experts maybe about 10 20 and pay the money to do this and I would have them evaluate the best technology and the best business ideas in the black community to decide which ones should be funded and what we would do is we set it up similar to the I think it’s called the Y Combinator out it out west where we would look through all the best business proposals we pick the ones that we like the most and we’d give each person a hundred thousand dollars to start their business and we will bring them together maybe we buy some farmland somewhere where there’s no distractions Montana or something right get some farmland and build up some offices on the farmland with computers and let you know the latest technology and have them all come together almost like a camp for maybe about two to three months where they would come there and all they would do is work on their their technology at you cover all the expenses while they’re there and then they would present these ideas to other people who are part of the incubator so that they can nurture these ideas and then ultimately that funding can be put to work in exchange for the funding the organization would take a percentage ownership in the small company so that if one of these companies became the next Facebook or the next Google that the incubator could grow which therefore allows greater economic investment or investment infrastructure for the black community over the long run that’s the second thing I would do the third thing I would do is I would form a really good think tank for the black community maybe I’ll grab maybe about 20 leading scholars and just have them research various aspects of the black community everything from education to health economic disparities etc and basically present these findings to the black community so that we can all be better educated on what’s going on in our community also it would put scholars on the forefront I would you know love to market these scholars so that people can see these images as opposed to the nonsense they see on mainstream media mainstream media does not feature black intelligent black people typically they tend to feature ratchet black people they tend to shape our culture in ways that are not healthy in fact much of what we call black culture actually comes from white people much of what we think is black culture comes from white media and our kids being in front of this television set that’s telling them that 2 Chainz is the hot new rapper even though that this rapper may be getting backed by a white or Jewish organization who has uplifted this person put them on a platform to influence young black children or you see an artist that’s telling my kids you know to dress a certain way speak a certain way what you know that they want to do that they should be proud to kill each other you know all this other negative stuff that we tend to see in media that’s not coming from black people so a lot be very careful about what you define is black culture so somebody mainstream hip hop as black culture just realize a lot of that black culture really is not originated from organizations that are run by black people B et for example it’s not owned by black people let’s remember that so so that’s why I want to get into that space as far as the think tank etc the next thing I want to do is I wanted to want to help fund I was like I guess a super pac or just some sort of machine that focuses on lobbying that focuses on pushing forward the political agendas that are beneficial to the black community so you know when people try to run around saying that there is no black agenda we would be able to say no that there is and that’s the thing a lot of people said during the Obama presidency when black people weren’t getting anything black people don’t buy people on sale but they won’t there is no black agenda that’s not true we there was a black agenda from the very very beginning there was a black agenda being heavily promoted by people like Jesse Jackson people like myself there were others but the problem is that what they did was they muted certain voices so you wouldn’t have to hear those voices so so that you wouldn’t ask for anything so basically black people got very little out of the Obama presidency except the symbolism of course you get to the pride of seeing your president as a black man and pride really doesn’t pay the bills pride doesn’t elevate the community pride does not necessarily make our lives better don’t get me wrong pride has value I’m not saying it doesn’t but pride is not something you can feed your you can’t feed your child pride in the morning instead of a bowl of cereal right so ultimately black people to some extent offend a lot of symbolism that makes us feel good and when we feel good it’s almost like keeping a drug addict high if you keep people high then the drug addict isn’t really gonna ask for anything else they’re not gonna want much else because they’re so addicted to the high so ultimately I would have lobbying organizations in place to badger the hell out of these politicians to make sure that the black community’s issues front as opposed to the background I have invest in that myself well the next thing I probably do is is um is is I would take the the black business school that we establish we establish the black business school the black wealth boot camps part of the business school and I said you know I want to create a school that can be virtual so we can keep the cost low and I want it to be able to give a high quality low cost educational alternatives to people who want to build in the black community most white universities don’t have very many black professors they don’t hire black people because they’re gatekeepers they keep the gates up and they keep black scholars out so I said I want to let black scholars in I want to bring in scholars and business people and other people who can educate the black communities now we funded with our own money so you know we have we had a few thousand dollars to invest and believe me I put I put all my money on the line to make this thing go but it would have been but if I had 100 million if I had 100 million if I had a hundred million dollars I literally could turn institutions like this into transformative figures in the african american community I’m talking about things that would literally in about three to five years shift the whole landscape of the black community I mean and I think about the nest egg gosh you know with all that we’ve been able to do with just you know ten thousand here five thousand there twenty thousand here imagine if we had 20 million it would be a wrap it would be an absolute wrap we could obliterate some of these crappy institutions out here that are destroying black people these horrible media outlets that you know we just know how to play the game on that in that way Bob and when you don’t have as much money as everybody else you learn how to be creative you learn how to be a little smarter in terms of figuring out how to kind of make a dollar out of 15 cents so anyway I would say I would love to take the black business school go get some of the leading scholars in the country and the leading business or big you know business leaders in the country and get them to contribute to the ideas that would be necessary to teach young black people and older black people how to build for the next generation and then and then the last thing I would do this is kind of a six thing I didn’t even think about this but I would actually like to UM do what Tyler Perry does in Atlanta you know Tyler Perry has Tyler Perry studios I don’t know if he owns all of that I don’t know how much that is his versus Lionsgate and other backers that he has um I would want to create a studio that was 100 percent black owned and I would love to make a variety of films some of which would be focused on edutainment meaning you know just really good you know really good quality films that also elevate the thinking of black people but it wouldn’t be overly preachy we can still entertain ourselves but we would get a chance to really pay homage to to black actors and actresses and filmmakers who just want to be human you know who don’t want to feel like they have to fulfill a stereotype in order to get an opportunity who don’t feel that they have to run and you know get in line when Empire’s holding auditions because Empire is the best thing available to black people even though they know what’s wrong and that’s the thing when I had the controversy with Empire and I and I know Lee Daniels was upset with me I’m sure because of this I heard back we have we have some mutual friends and and Don Lemon I know he said you know he went he I guess he’s friends with Lee and he was on Tom Joyner kind of cut and trying to chop down I guess my argument and and and I guess they’re they were truly I don’t know I felt like I felt like I was being sort of I would say attacked I don’t care about being attacked I think it was it was interesting because I felt like I felt like they were they were battling me because they wanted to protect their money but I don’t think they were battling me because they knew that I was wrong I think they were battling maybe I think the fact that I was right bothered them a lot and what’s interesting is that because if you listen to their argument they never really said the Empire was a really healthy wholesome show or good for black people I don’t think most people feel that way even the actors I don’t they feel that way taraji taraji even talked about this recently when she won the Golden Globe taraj B Jensen was like you know is this what I had to do to win to win a Golden Globe you know she had to basically become this ratchet black woman even though she’s capable of doing a range of characters she tends to get rewarded when she behaves in a specific way according to a specific stereotype same thing happened with Denzel Washington and training day so they didn’t battle me because they felt I was wrong I think they battled me because my standard was set too high in their minds and if you notice in the book watch the interview I did on CNN with Don Lemon i i i i i Don Lemon doesn’t like me so when he invites me on CNN I’m always real nervous because I always know it’s gonna be an ambush but but it was an ambush but I’m fine I can I can handle an ambush because my egos not in this game I don’t care if you try to embarrass me so Don Lemon if you watch that interview you’ll notice one of the points that was made in the interview was that I think they said something like well at least at least black people have jobs or something like that like they were just happy to get a job and my standard says um you know we need to stop just being happy to get a job cuz what you’re basically saying is that you ain’t and it you should just be glad white people are acknowledging you on any level even if they’re acknowledging you as an entertainment whore even if they’re putting you in the entertainment get oh my feeling is we should set the standard high number one we don’t have to just beg for jobs we can also create jobs number two getting money should never be the excuse for signing away all your dignity you can’t do that I mean it’s it’s it’s it’s it’s even beyond instant gratification its destructive gratification it’s like hitting the crack pipe because you’re trying to get through the day right so ultimately we have to stop hitting the entertainment crack pipe we have to stop becoming economic and entertainment whores of America we have to have some sort of dignity we have to have some sort of standard in terms of how we present ourselves and one way that we can do this is if we had our own studios I’m talking about 100 percent black owned run by black people and so if I learned that 1. 5 billion in the Powerball that’s the first thing you would see is you might see boys walking studios pop up in Atlanta or somewhere right I might go right next to Tyler I love Tyler Perry he arranged for me to have a private tour of his studio it was the most beautiful thing I’d ever seen I was so inspired by what I saw and I said you know what I don’t know if this is 100 percent black owned but I would love for it to be because I think that things like this when it does is the entertainment shapes the minds of people shapes culture so you know if you’re gonna talk about something being black culture I would at least hope that it would come from black people and so that’s that’s one of the things I’d love to do is just have a movie studio and we actually shoot films in LA we actually rent a studio at least we assigned a lease on the studio that we have in LA and we have a whole team of people that are shooting things in LA so we’re doing our little baby version of it but you know we don’t we don’t get that big corporate money we don’t go we don’t really go after money from people who are not black really because we don’t really want that to down loot what we’re doing but believe me we’re building so whether it’s today or tomorrow or later we’re gonna get that 1. 5 billion eventually but it might be my grandkids who are investing the 1. 5 billion instead of me but at the same time we got to think about future generations so these are the things I would do if I had the 1. 5 I think I’m getting carried away cuz I’m actually getting excited so the fantasy is kind of fun to kind of think about and so one day if you ever hear if you ever see a headline that says dr.

Boyce Watkins just signed a 100 million dollar just got you know 200 million for whatever just no that’s why this money’s going to go into the community so we can invest in each other not just treat each other like a charity case but you treat each other like a charity case what that means to me is that you just go around and just pay for things for people you help them pay for their car you help them you know pay off the the toys in the layaway or whatever but that’s not an investment that’s charity I wanna make investments so that’s it I’m dr.Boyce Watkins from the black business school if you want to learn from us go check out the black business school com you can join for free the classes are very very reasonably priced I think you’re gonna love it and also we have a money back guarantee which universities don’t offer that so go check it out if you want to build your wealth game I think it’s good for everybody so I’ll take care I’ll talk to you guys soon bye bye. .

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