um everybody here is looking to make money in very hard times so i tip my uh hat literally to you
guys for showing up and i think um everybody feels in their gut we're going through a significant
transformation and making money is hard and you know what what does the future look like and what's
this technology going to do to our industries and so forth so i think um as humans,
I mean, at some level, they're trying to take our humanity. But I started this business. I'm a
second-generation Italian-American. Founded it 27 years ago, right out of college.
I was a top basketball player. I paid for myself through school. Was very entrepreneurial at that
point. Learned a lot from my dad who built a barcode reading company that was, we grew to about a
billion seven in value and sold it. He was very close with the Walton family. They had three cash
registers at the time, if you understand, and people thought they were gonna fail. They used our
technology. on a low margin business became the wealthiest family in the world today we've
structured about 2.3 billion of equity capital into everything as we move towards this transition
we're focused heavily on a real estate 80 percent we don't think people can live in their phones so
we're currently the largest player in affordable housing and mh build the lease strategy we have 6
500 entitled lots in houston and dallas through an affiliate We're restructuring probably a half a
billion or a billion of multifamily debt for various sponsors. We will go in, restructure the debt,
and inject new capital in any form of the stack. We're doing large construction loans with very
large institutional capital. On our track record, we did the largest deal in Tennessee history
called Nashville Yards. It was a $4 billion deal with Robert Sarver, the owner of the Suns, to
change that whole area. We did a deal in Austin that Elon Musk bought. We brought in the wealthiest
real estate.
We brought in the Bren family and then Elon Musk bought it. He's running his operations out of
there. We've done 15,000 apartments and then we've done from some prime auto loans and lost money
and almost everything you can lose money in. So we're here.
We think humans matter still and we think relationships are still going to be valuable. I think you
need to forward look at operating companies. I think you need to try to get into hard assets.
Because the ability to solve problems and get rich is going to probably likely come to an end. I
think soon it's going to be the assets. What assets do you own? And I think we're going to have an
ownership class and a peasant class. I don't say that with kindness. I just don't see the middle
class and the higher middle class by design surviving this next turn. And this next turn,
if you're not well capitalized, most of the assets are going to trade to the same. pools of capital
so for i think for people to stay alive you need to team up you need to really focus on your
relationships and find things that can make money for people immediately and get yourself into an
operating role where you can sustain yourself i don't know if you're investing in silver and gold
we've been investing a lot of it we think that's going to be part of the new monetary reset and if
you have the ability to get money out of the system do it before they won't let you um we're open
to looking at any business if it's distressed or very growing rapidly or somehow mismanaged we
would look at anything we'll learn any business and we'd be open to providing capital to you and
operations if it's that good of a business um outside of that i don't know if anybody has any
questions on my diatribe before before we pass on Dan,
you mentioned that there have been some winners and losers. Do you have a cautionary tale or
something that you'd be willing to share regarding a don't do?
It's always easy to say it. I've lost so much money. It's always easy to say it looking back.
I think now you need to be aggressive. I mean, the last time hyperinflation hit like this, the
richest man got rich in Germany by borrowing as much money as he can. buy as many assets as you can
because when the hits don't inflate up and you can be able to deflate your money so i think you
need to get into multi-family cash flowing assets silver gold commodities stuff like that i think
the technology and a lot of the high finance stuff like a lot of the stuff i'm doing i don't think
that'll be around i think it'll be disremediated with tokenization and operators will be able to
save millions of dollars on buying and selling assets efficiently There there is something to be
said for a strategy where you invest in in assets and they inflate and then you pay down the debt
and One thing you can count that's happening is inflation. That's good Hi,
I'm Richard C. Wilson. Our community has closed over $1 billion of transactions. We have over 16
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