Robert Kiyosaki on Andrew Yang

We also had Andrew Yang on in New York when he was running. He's doing good. He just announced something that he's starting called Move Humanity Forward. A lot of people thought he was running for mayor, actually, for New York, which he still might. I'm not sure. I don't think he's announced it, but he's starting a non-profit, basically. You know what non-profit stands for? No. Tax exempt. That's what it really means. Yeah, probably. That means that they can't make money, so they don't have... You know, I know the game. I sit there and chuckle and laugh all the time. Well, I could introduce you to Andrew if you want. Yeah. I don't understand how they can pay everybody. I fought for capitalism. You know, I realized it's 80-20. You know, it's called Pareto's Law. Pareto's Law is an 80-20 rule, right? Something like that. So 20% of the people need socialism. They need to be taken care of. But 80% can make money on their own. So why would I give somebody with the capabilities to be the 80%? Give them money. Sure. It doesn't make sense to me. What did you think about the UBI? I'm assuming you... Well, I think, unfortunately, it's coming just because our school system is teaching people to be victims. You know, I don't know if you saw me on Patrick Ben David. You know, that guy is a genius, man. I love working with him. He's smart, yeah. Yeah. Oh, he's smart. I used to work with Tony Robbins. He has that quickness of brain. Yeah. I'm a little Hawaiian, a little slower. But anyway, he goes, I told him, I said, you know, during the agrarian age, the church was the center. So every small town had a church. So it was very spiritual. And that was a culture. We shifted to the industrial age and then weaponry came up. So we could now kill. You know, they went from swords to guns, to machine guns, to rockets, to drones, you know. So during the industrial age, they started building statues to war heroes. So that was, you know, as a Marine, they have the Marines raising the flag on Iwo Jima and Robert E. Lee and Grant. So everybody respected war heroes and stuff like that. Now they're tearing down Robert E. Lee and Grant and all these guys. Because America is now worshiping the victim. Victim mentality. The victim mentality. That's what I said on Patrick Ben David. And a couple of my friends called me and said, you're an asshole. And I said, well, you're entitled to your opinion, but I've been called better, you know, and stuff like this. But I said, we're raising victims. Our schools are pumping out victims. And the reason I like this guy, Jordan Peterson, is he says, it's not what a person stands for. You see that? He did this great thing. It's what are they against? He says, a lot of times they'll stand up, they'll say, well, I stand for socialism. But they're really against the rich. And so that's why when you talk about Andrew Yang and Pete Buttigieg and all this stuff, I wonder what they really stand for. What are they really fighting for? So I'm up front with you. I'm fighting for capitalism. You know, I fight for education. That we should have better education. I'm not saying anything else inside that. I don't have a hidden agenda. So when these guys are talking about, we're gonna fix the homeless, I said, and what does that mean? And so what Jordan Peterson says, they're against the rich. They're not for the homeless. They're against the rich. And that's where most of the people on the left are. I don't know that, because I'm not political, I'm not Republican or Democrat. They don't have any religious agenda. You know, you wanna believe in God, fine. Don't wanna believe in God, fine. But I wanna know what you really stand for. Not what you pretend to be standing for. So when Andrew Yang says he's gonna start a non-profit, as a capitalist, I already know he can't raise capital. Because look, I'm doing the same thing, but I can raise capital. You know, I'm a hardcore teacher. What do you think is the difference between you and Andrew Yang in that case? You can't raise capital. I'm not an entrepreneur. So what's the skill sets that I'm missing? I don't know. You better figure that one out pretty quickly. Look, understand something. I don't have stocks, bonds, mutual funds. You know why? Why? I can make up my own assets. I wrote this book called Rich Dad Poor Dad, 31 million copies. I make $5 a book. You do the math on that one. I create my cash flow game. I think I make $6 or $7 a game in 50 languages. I know how to sell. Yeah, but don't you have to invest that money once you make it so that it's in the less risky asset class? I don't even need money. That's the worst part. The next book I'm coming out with is called The Infinite Return. It's that when you have the mindset of a capitalist, you don't need money. Okay. See, rule number one in Rich Dad Poor Dad is the rich don't work for money. Most people miss that one. That goes back to 1971 when Nixon took us off the gold standard and money became fake money. So anyway, my rich dad was preparing me to think about how can I make money without money? And the way I do it, I create an asset like a book. I'm not saying write books because that's a tough industry. But I write a book today. I sell 50 licenses to 50 different languages and I collect royalties for years, a long tail. So my money just keeps coming in. From with that, I borrow. So let's say I make $10 in a book. I'll borrow $50 to invest in real estate. I step up my basis for depreciation, advertisement and appreciation. That's financial education. That garbage they teach you about invest for the long term of the stock market. Why would I do that when I can make up my own assets? That's what entrepreneurs do. Every entrepreneur should be making up their own assets and staying out of the stock market. That's my point of view. But can everybody do it? No, of course not. Sure. But I've screwed up enough times to prove I can do it. And my accountant will back me up. Yeah, the guy is an idiot, but he does create assets. Yeah, and you have this great core competency, which is the ability to communicate something that's very complicated or what has been made complicated because why would people go to school and pay for that money if it sounds simple? So you made it really simple using pictures and everything. And you've been able to find leverage. You can find leverage through people, capital, or especially now it's media and software. And you've been able to do all three of those. Yeah, and Richland is a brand, man, what that's worth. Yeah, no, it's impressive what you've done. It's amazing. But I can sell. And that's why my first job when I left the Marine Corps was to join Xerox so I could learn how to sell because of being Japanese, right? I was really shy. I could kill people from the sky. I was a Marine, a decorated hero and all this crap. But I couldn't pick up a girl in the bar. And when I said that to my rich dad, he says, your sex life sucks, doesn't it? And I said, oh, it's terrible. He says, because you can't sell. You can't sell. And so he says, if you don't sell, you're gonna be lonely and horny all your life. So that kind of inspired me to learn how to sell. Yeah, yeah. So I joined Xerox, you know what I mean? But you have to do what it takes. So Andrew Yang is a good, smart, very smart guy. He can't sell. He doesn't know how to create an asset so somebody will give him the money. They know how to invest that money so he pays no tax on it. That's why he has to go the tax exempt or the, what do you call that? I don't know what you call this. I don't even think in their words. Well, he has been able to raise insane amounts of money for- As tax deferred, you know what I mean? For tax advantages. I see what you're saying, yeah. He's just in the wrong system. No, I mean, he's doing good for himself. Yes. But as an entrepreneur, I'm kind of in the same, you talked about UBI, right? Universal Basic Income. We're on the opposite sides of the camp but I understand why he does it. Yeah. If you're an entrepreneur, you don't need a UBI. You don't even need a job. Think about that. See, that's where you're going right now. You will eventually never need a job and you'll never need money if you keep pushing the boundaries of your mental abilities. That's called the infinite return. Yeah. When I write a book, I have no money in the deal and I collect money for the rest of my life. The royalties? Yeah. Yeah, yeah. Now, royalty, I mean, that's what Richard Branson did, basically. That's what Trump does also. That's what Trump does as well. That's what Bezos does also. How does Bezos do that? Well, he has a company that he has all the millions of people working for and the money keeps coming in. Oh, I see, you see. And then he floats it on the stock market, which is all free money. He wouldn't become a billionaire if he was selling just Amazon. He floated it on Wall Street. Yeah, yeah. And that's the game. It's on the B and the I side, not the E and the S side. Absolutely.