In this episode of Rush to Reason, discover the importance of forward-thinking and how businesses can successfully navigate the end-of-year reflections and future strategies. Drew Yancey, an executive coach and co-author, talks about setting ambitious yet achievable goals that create value for stakeholders, while avoiding the trap of past-focused strategies. Whether you’re a small business owner or a corporate leader, gain practical advice on making strategic planning a continuous, participative process.
SPEAKER 07 :
This is Rush to Reason. You are going to shut your damn yapper and listen for a change because I got you pegged, sweetheart. You want to take the easy way out because you’re scared. And you’re scared because if you try and fail, there’s only you to blame. Let me break this down for you. Life is scary. Get used to it. There are no magical fixes. With your host, John Rush.
SPEAKER 11 :
My advice to you is to do what your parents did. Get a job, turd. You haven’t made everybody equal. You’ve made them the same and there’s a big difference.
SPEAKER 15 :
Let me tell you why you’re here. You’re here because you know something. What you know you can’t explain, but you feel it. You’ve felt it your entire life. That there’s something wrong with the world. You don’t know what it is, but it’s there. It is this feeling that has brought you to me.
SPEAKER 07 :
Are you crazy? Am I? Or am I so sane that you just blew your mind?
SPEAKER 03 :
It’s Rush to Reason with your host, John Rush. Presented by High Five Plumbing, Heating, and Cooling, where every call ends with a high five.
SPEAKER 18 :
All right, we are back. As I said earlier, Drew Yancey joining us now. He is a succession planning expert, executive coach, and co-author of Leading Performance Because It Can’t Be Managed and How to Lead the Modern Workforce. Drew, welcome. How are you, sir?
SPEAKER 05 :
I am great, John. Thanks so much for having me.
SPEAKER 18 :
I appreciate it. As we head into the end of the year and businesses, and I’m a business owner myself, coach businesses, also small businesses, and as we get to the end of the year, people start looking at, okay, what did I do this year? What do I want to do next year? And so on. What are some of the planning pitfalls for folks to avoid?
SPEAKER 05 :
Yeah, it is that time of the year. Pumpkin spice lattes and strategic planning, right? Yep. You know, I think the biggest pitfall to avoid is mindset. The mindset is that we want to avoid is that planning is the point. Execution is the point. And the reason why that’s so important is because we know from research, the economists did a really good fascinating and disturbing study a couple years ago, the average organization’s only going to execute on maybe 30% of their initiatives and their strategic plan. And if you’re like me, that’s really depressing when you hear that, because a lot of executive teams are spending a lot of time and energy, maybe even an off-site retreat, putting together all these wonderful plans and by, I don’t know, January 7th, we’re back to the day-to-day and the plan sits on the shelf.
SPEAKER 18 :
Yeah. In other words, they bit off far more than they could chew, right? And then they get discouraged.
SPEAKER 05 :
That is one of the major pitfalls. You just put your finger on it. Too many initiatives. The bigger a company gets, the smaller its set of initiatives it should be that it focuses on.
SPEAKER 18 :
So how do they strategically still get done what they need to do, but cut that back to where it’s actually manageable?
SPEAKER 05 :
Yeah, great question. I call this identifying your vital few. Within any business, I don’t care how big or small, what industry you’re in, there are only going to be three to five high value, high complexity items. that are really going to make the difference for the business the next year. So a strategic plan should really be focused on identifying those and then aligning the resources of the organization around executing on those.
SPEAKER 18 :
Yeah, and I would imagine, because I’ve done some of this myself, if there’s something that you want to do and you’re like, okay, we as a company, we want to achieve X. But then you start looking at the resource side of it and say, well, wait a minute, hang on. Do we even have what it takes to achieve X? Well, if you don’t have what it takes, either one or two things has to happen. You either got to drop that goal until you find that particular end of things to make that happen, or you better find that to make it happen, one of the two, right? Yeah.
SPEAKER 05 :
That’s right. And great strategy should always stretch us. I always say we should be looking for ambitious but not impossible goals. And the reason why that’s important is because ultimately a strategic plan needs to be about creating new value for our stakeholders. At the end of the day, whatever you come up with to put on your plan, does it actually create new value for your clients, your customers and your people?
SPEAKER 18 :
Yeah, you’ve got number one in here, which I agree with you wholeheartedly. In fact, I think in politics, they don’t do this correctly a lot of the times. They start with products and services, not what the marketplace needs. In other words, you might have the great widget ever made to mankind, but if nobody wants to buy it, does it really matter?
SPEAKER 05 :
Well, absolutely. And for more mature middle market businesses, for example, the history of capitalism is full of companies that slowly declined because they did this year in and year out. Look at Blockbuster, just incrementally improving their products and services, while another company came along and realized that Ultimately, that’s not what the marketplace needs is more physical movies to rent. What if we were to put this online?
SPEAKER 18 :
Yeah, it’s funny you say that. You use that as an example. I have grown up in this Front Range area. I actually grew up in Boulder, had a business there for years and years and years, and I was actually kind of privy to some of the technology that was around that was being developed way, way back in the day. I mean, early 2000s where— These guys were coming out saying, you know, John, you’re not going to go to the Redbox little stand or to Blockbuster down the road. This stuff’s going to get delivered to you in this fashion. And, of course, people at that time were like, yeah, sure it is. I was one saying, okay, yeah, I can get how this is going to work. And these guys, of course, are drawing it out and explaining how it’s going to work over time. And I’m like, yeah, I could see that happening. And guess what? It did. It did.
SPEAKER 05 :
Well, and in order for you to see that, you had to look out further than just the next year. And that’s another major pitfall. We always want to start the strategic planning process thinking beyond just the next year. Now, I’ve been involved in situations where we’re thinking 10 years out, five years out. I tend to think about the three-year as a really good balance of the long and the short term. The key is, are we looking out more than just over the next year? Because if we’re just focused on the next 12 months, guess what?
SPEAKER 18 :
That’s not enough.
SPEAKER 05 :
The next 12 months are going to look very similar to the last 12.
SPEAKER 18 :
Well, and that’s because, Drew, as you know, I mean, I’m looking at the end of the year right now thinking, okay, there’s like three weeks between Thanksgiving and Christmas because of the way the holidays fall, meaning that, frankly, there’s not a lot of time left for the end of the year. Before you know it, it’ll be next Christmas. The reality is time flies the farther down the road we get.
SPEAKER 05 :
Absolutely, and this is another pitfall. Strategic planning is not a one-time thing. It’s an ongoing, iterative process. I often tell people the best teams I’ve ever been on or been around, they work off of an 11-month calendar, meaning when you get to Thanksgiving, you’re done with your strategic plan. You’re done. Because guess what? Nothing else has happened after that before the end of the year.
SPEAKER 18 :
You might do a little bit of tax stuff maybe at the end of the year, and those guys might have a few things to do.
SPEAKER 05 :
Yeah.
SPEAKER 18 :
Yeah, they may have a few things to wrap up through the year, but the rest of the team is pretty much at that point done. The other thing that you’ve got in here, which I think is very true as well, focusing on the rearview mirror instead of the windshield. In other words, far too many companies are always looking back at what used to be versus, hey, where are we headed?
SPEAKER 05 :
Yes, the past should be our great teacher in strategy. We want to learn from the past. But the past is just that. It’s in the past. So we’ve got to build strategy for where we’re going, not where we came from.
SPEAKER 18 :
Yep. The other thing that – and, again, I like all 10 of these. I mean, they’re all solid. For those of you listening, I’ll put this in my show notes. You can have access to those. I’ll put them out onto our website – Producer Ann will a little bit later tonight. But benchmarking only against similar organizations. One of the first things I ask a new business I start to consult with, Drew, is who’s your competition? Of course, you get all these answers. Well, it’s this guy down the road. It’s that guy over here. And it’s like, well, yeah, that’s kind of correct. But the way I always explain it, Drew, is at the end of the day, anybody vying for the dollar out of that guy’s pocket is your competition. In other words, everyone is.
SPEAKER 05 :
That’s exactly right. And one of the myths of strategic planning is that we should only focus on ourselves, our company. We really want to study our competition not to copy them, but to beat them. To be better than them. Yep, that’s exactly right.
SPEAKER 18 :
Well, I would say it like this, to bury them. Sorry, that’s just how I look at it.
SPEAKER 05 :
I’ll let you say it.
SPEAKER 18 :
You know, at the end of the day, if we’re not doing that, we’re not getting far enough ahead. And I know it’s a dog-eat-dog-eat world, but at the end of the day, really, it is about us and our survival. And if you’re a small business owner, the survival of you and your family, not the next guy.
SPEAKER 05 :
That’s right. Yep.
SPEAKER 18 :
You got to look at it that way. All right. Let’s see. I’m going to scroll down here. I mean, I think we’ve covered a good majority of these. What do you feel outside of some of these things we’ve talked about? You know, biggest mistakes, especially year end. I know we talked about biting off more than you can chew going into the next year. But what do you feel are some of the other large mistakes this time of the year specifically? And I’m glad you’re on right now because I think it’s really key to a lot of owners out there that are listening. What do you feel are some of the other big mistakes people make, business owners make this time of year?
SPEAKER 05 :
Yeah, one of the biggest ones is we’re too insulated in the planning process, meaning it might just be the business owner himself or herself or maybe a couple of leaders. Get your team involved in the process. They often have some of the most insight as to what’s going on with our customer, with our competition, with suppliers. And you need all of that input to build a great plan.
SPEAKER 18 :
True. You know what? Can’t argue that at all. All right. How do folks find you?
SPEAKER 05 :
We’ve got a great website. Teleos Strategy is the name of our firm. Teleos is an ancient Greek term. Sometimes it’s translated teleos. Perfect, but it really means full. And what we mean by that is a perfect strategy is a whole strategy, something that incorporates not just planning, but execution. So go to teleostrategy.com to find a lot of free resources. and ways to contact us if we can help and support anyone in the planning process.
SPEAKER 18 :
And those of you guys listening, I’ll have, again, that up. I just put the link up in our show notes. You’ll have that a little bit later tonight. Drew, I appreciate it. As you can tell, we think a lot alike. You are welcome anytime, sir. John, thank you so much. Be well. We’ll talk to you soon. Appreciate you very much. Have a great Thanksgiving. Flesh Law is next, and you might need some help, even some business stuff that we just got done talking about, legally speaking. Kevin can help with that. He’ll do criminal or civil. Give him a call today, 303-806-8886.
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SPEAKER 18 :
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SPEAKER 17 :
This is Rush to Reason on KLZ 560.
SPEAKER 18 :
All right, we are back. Rush to Reason, Denver’s Afternoon Rush, KLZ 560. Okay, as I promised earlier, I think I’ve got time I can put this in here. I do. This is four minutes, 20 seconds long, Milton Friedman. And actually, this was actually put out on X by Elon Musk. Probably because he’s now going to be in charge of some of these things. And at any rate, let me just, without further ado, Charlie, let me make sure that everything is set to go. And I’ll just start playing. I may interrupt it a little bit, but here we go.
SPEAKER 09 :
14 is a lot for television, so I want to just go right down the list quickly and have you give me a thumbs up or thumbs down. Keep them or abolish them. Department of Agriculture. Abolish. Gone. Department of Commerce. abolish gone department of defense keep keep it department of education abolish gone energy abolish how except that energy ties in with the military well then we shove it under defense the little bit that handles the nuclear right that ought to go under plutonium and so forth goes under defense but we abolish the rest of it health and human services there is some there are there is room for some public health activities
SPEAKER 08 :
to prevent contagion, such a thing as, for example… So you’d keep the National Institutes of Health, say, and the Center for Disease Control down in Atlanta? No, no, not the National Institutes. Those are mostly research agencies. No, no. That’s a question of whether the government should be involved in financing research.
SPEAKER 09 :
And the answer is no.
SPEAKER 08 :
Well, that’s a very complicated issue, and it’s not an easy answer with respect to that.
SPEAKER 09 :
We’ll eliminate half of the Department of Health and Human Services? Yeah, something like that. Okay, one half. There we go. Housing and urban development? Bound.
SPEAKER 18 :
Oh. Okay, you’ll enjoy this one, because he gets into housing and urban development here in just one second, which I’m with him on. It has done nothing but make more welfare queens when it’s all said and done. That’s all Section 8 housing and all of that is. In fact, there are some folks on social media… that talk about how you can fleece, I’m not joking, how you can fleece the American public by owning Section 8 housing and get ultra-rich in doing so. There are folks on social media bragging about that end of things and how rich you can get doing Section 8 housing, and I’m not exaggerating in the least in what I just said.
SPEAKER 08 :
You can’t even pause over that one. Department of the Interior. Oh, well, but housing and urban development has done an enormous amount of harm. My God. If you think of the way in which they’ve destroyed parts of cities under the rubric of eliminating slums, you know, you remember that Martin Anderson wrote a book on the federal bulldozer describing the effect of the urban development. There have been many more dwelling units torn down in the name of public housing that have been built.
SPEAKER 09 :
jack kemp has proposed selling to the current inhabitants of public housing their unit their townhouse their apartment for a dollar a piece and just shifting the ownership to the people who live if you got rid of the department of housing and urban development it would be worth doing that all right done that’s gone department of the interior your beloved national uh park service well given that the problem there is
SPEAKER 08 :
You first have to sell off all the land that the government owns. But that’s what you should do.
SPEAKER 04 :
But it could be done pretty quickly. It could be done.
SPEAKER 08 :
You should do that. There’s no reason for the government to own. The government now owns something like one-third of all the land in the country. And that’s too much.
SPEAKER 09 :
It should go down to zero.
SPEAKER 08 :
It should go down to zero. Well, not entirely zero. They ought to own the land on which government buildings are.
SPEAKER 09 :
Okay, terrific. Department of Justice. Oh, yes. Keep that one. Labor.
SPEAKER 08 :
No.
SPEAKER 09 :
Gone. State. Keep. Keep it. Transportation? Gone. Gone. The Treasury?
SPEAKER 08 :
You have to keep it to collect taxes.
SPEAKER 09 :
All right. Collect taxes through the Treasury. Veterans Affairs?
SPEAKER 08 :
You can regard the Veterans Affairs as a way of paying, essentially, salaries for services of those who have been in the armed force, but you ought to be able to get rid of it. You should be able to pay it off. Pay it off.
SPEAKER 18 :
Pay off lump sums, perhaps. That’s right. By the way, I’ve said this for years, too. This billion-dollar debacle we built down the street called the VA Hospital, all you have to do with veterans is give them a card that allows them to go to any doctor they want to receive the treatment they need and get things handled that way. There’s no reason to build these big, huge monstrosities like we built down the way here at 225 and Colfax. That is a total, total, total, in my opinion, waste of taxpayer dollars.
SPEAKER 09 :
Okay, Milton Friedman, if you are made dictator for one day, the next day the American government… No, no, I don’t want to be made dictator.
SPEAKER 08 :
You wouldn’t? I don’t believe in dictators. Okay. I believe we want to bring about change by the agreement for the citizens. I don’t believe in arbitrary rule. Let me put it this way, then. If I can’t persuade, if we can’t persuade the public that it’s desirable to do these things, we have no right to impose them, even if we had the power to do it.
SPEAKER 1 :
All right.
SPEAKER 08 :
From 14 departments down to four and a half.
SPEAKER 09 :
Four basic fundamental functions.
SPEAKER 08 :
What are its fundamental functions? Preserve the peace, defend the country. provide a mechanism whereby individuals can adjudicate their disputes, that’s the Justice Department, protect individuals from being coerced by other individuals, the police function. And now, this is both the central government and the state and local governments. The police function is primarily local and central. And those are the fundamental functions of government.
SPEAKER 18 :
There you go, folks. Milton Friedman, probably one of the smartest minds in the world of economics and how things should function ever. Yeah, some on the left will dispute that because they like the Keynesian way of doing things and so on, which has gotten us where we’re at today, by the way. Yeah, the thing down the road Charlie just looked up. I was off. 1.7. $1.7 billion down the road. That thing ended up being a huge, huge debacle. They have the VA hospital that took, I don’t know how many years to even, I drove by it forever, Charlie, watching the thing get built. And it is a palace. And not to say that our vets don’t need great care. In fact, I think most vets would agree with me. Give them a card that they can go literally to any doctor anywhere they want. homeopathic, chiropractor. They want to go to Centurion Labs and buy some of the things we talked about during health and wellness to help with their liver function and so on. I mean, I can go down the list, all the things that are available. Give them a card to go do that. With limitations, of course. They just can’t spend willy-nilly. But with the limitations, according to whatever their needs would be for their particular life and what’s going on and what kind of ailments they might actually have, that includes psychiatric care and so on for PTSD and all of that, you could go 100% on the private side. Give these guys and gals much better care than they’re getting now. Ask anyone that’s in that world, which I know some personally, have family members in that world. The VA sucks. Sorry, I’ll just say it straight up. Not those that are working in it, but the amount of bureaucracy and the amount of time that it takes and decisions that have to be made and diagnosis of and on and on and on we go. It’s a joke. And any of you that are listening that are vets know exactly what I’m talking about. It’s a joke. There’s but a rare exception that it’s not. So, yeah, we could revamp that completely, and that’s just one area. And I hope that Elon Musk and Vivek both go through every one of these departments and look through it and determine how do we make these things more efficient at the end of the day. And then, like Milton says, even throwing that down to the state level, you look at the amount – of money that is wasted inside of the states. There’s an argument going on right now at our own statehouse between Polis and even his own party as to the budget. You can go look that up and read about it. They’re fighting. They’re infighting as to what should be kept and what should go because there’s going to be a shortage of funds heading into this 2025 year. And Polis is even saying, hey, there’s some things we don’t need. And the left is saying, oh, no, yeah, we do need those. No, we don’t. There’s a lot of stuff even inside of the Colorado budget that does not need to be there, period. As I’ve said many, many times, I could go to any organization, especially government, and cut budgets by 20%, 30% easy, easy, and have things function better at the end of the day. And that’s exactly what Vivek and Elon are going to try to do here. So high-five plumbing is next. You may have some problems going on with your own home. It could be electrical. It could be plumbing-wise. It doesn’t matter. They do both. 877-WE-HIGH-5.
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SPEAKER 03 :
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SPEAKER 18 :
All right, we are back. And thank you, by the way, for all the text messages. A lot of you commenting as vets, talking about what I just talked about a moment ago, that, yep, John, you are spot on. So thank you, by the way, for that. I appreciate that. Scott Garlis joining us now. Scott, how are you today, sir? Hey, John, I’m well. How are you? I’m doing good. As we head down the stretch into the holidays, what are the markets doing?
SPEAKER 10 :
Yeah, so markets are grinding higher. Big news out tonight after the bell. We had semiconductor manufacturer NVIDIA reported numbers. I know you and I have talked about them a lot in the past, and we have mentioned, hey, this is the direction of where not only technology is going, but businesses are going to employ more AI and the things they make, and that’s going to drive the share price even higher. The stock’s been setting new all-time highs recently. they put up really good numbers tonight. They beat on both EPS and revenue, and they guided higher for the next quarter. But they basically said there is so much demand for AI-related technology that they can’t keep up, and they’re being supply constrained.
SPEAKER 18 :
Wow.
SPEAKER 10 :
Yeah, they said their suppliers can’t meet their demand for parts. So their guidance was Some people on Wall Street saw it as a little disappointing, but basically the CEO, Jensen Wang, he said there’s at least a trillion dollars worth of demand just from AI data centers out there that need to switch from CPUs, which are central processing units, to GPUs, which are graphic processing units. So, I mean… That right there, a trillion dollars is amazing.
SPEAKER 18 :
That’s huge. That’s huge. I mean, Scott, that is, number one, that is a huge number in the business world, as you know. I mean, yeah, there are some companies out there that generate a lot of revenue, but that is a huge number and just shows you that the growth and then the ancillaries that come off of that are huge.
SPEAKER 10 :
Oh, my gosh, yes. And, I mean, again, you know as a business coach and a business owner – If somebody said, hey, I can give you a product that is going to make your business run more efficiently, produce better margins, and put more money in your pocket, you’re going to say, I’m all ears.
SPEAKER 18 :
I don’t think too many would. And I get it. There’s a lot of people, Scott, that are scared, if you would, quote-unquote, of AI. They’re not really sure whether they should trust it and where is it headed and so on. And you’re going to find that – I can go all the way back to when the horse and buggy kind of started to fade away, and Henry Ford showed up. Granted, there was a lot of other cars being produced and so on, but he really changed the game at that time, and that’s exactly what Navidia is doing right now as well. I mean, yeah, they’re changing the game. Some of this has been around for a little while, but they’re the game changers like Henry Ford was, and the reality is you can try to stop it all you want. It’s here. It’s coming. You’re not going to get rid of it.
SPEAKER 10 :
That’s right. And look, Jensen Wang being the CEO of the company, he’s going to be a bit promotional, too, because he wants NVIDIA to do well. But this is a guy who’s spent his life doing this, and this is everything he’s been about forever. He’s comparing this to the Industrial Revolution. This is the next big… I can’t argue.
SPEAKER 18 :
And by the way, I don’t think, Scott, that he’s wrong. I had an interview earlier in the week talking about how… You and I talked about this last week, but I wanted to throw this at you. All of the naysayers about tariffs. I mean, these are the folks out to the globalists. We’ve talked about it to where, oh, tariffs are going to kill the market and it’ll raise inflation. It’ll do this, it’ll do that. Well, unless, Scott… You bring AI into this, and you roboticize a lot of things, and you start talking about the cost of labor. Well, the reality is you can put an X amount of dollar robot out on the floor that works 24-7, seven days a week, 365 days a year, and all you do is provide a programming and electricity, and off it goes. I mean, the reality is – With AI and robotics, we do have the ability to bring manufacturing back to the United States of America. You could do things that we haven’t done in the past. And that’s one thing these globalists, by the way, hate, because that makes America stronger, and they don’t want that.
SPEAKER 10 :
Amen. And, you know, another thing we’ve talked about, too, that people are scared of AI. People are always scared of the unknown, right? That’s right. And that’s part of the fear of AI. But we’ve discussed before how we saw this with the Internet revolution in the late 90s. Right. And just how people are like, oh, my God, brick-and-mortar retailers are going away. And they didn’t.
SPEAKER 18 :
By the way, Scott, they didn’t. The smart ones, yes, some did. I mean, the blockbusters of the world, which… By the way, they had their opportunity to do some of what was going on, but they chose not to for whatever reason. They were too set in their ways and looking at the rearview mirror instead of the windshield. We had an interview with a guy a little bit ago talking about strategic planning. They didn’t do that very well. The stores that did well and that figured out a way to compete with the Internet have done just fine.
SPEAKER 10 :
And they embraced it, yeah. Exactly. They used it to their advantage. And you either… You either adapt and move forward or you step to the side.
SPEAKER 18 :
That’s right. And the same thing is going to happen in the AI world. And, again, I call these guys, you know, naysayers. They were naysayers on the Internet, by the way, Scott. There were folks back in that day that didn’t like it. You know, it wasn’t going to be good for the, you know. Too many dangers, too many unknowns, all the same things we hear about AI. The reality is we have the Internet, and with everything, Scott, there’s good and bad and probably some neutral in between. It’s a matter of how it gets used, and yes, there’ll be some things it gets used for nefariously, and there’ll be some things it gets used for that have great value.
SPEAKER 10 :
That’s right, and what we’re going to see, and again, this is a topic we’ve discussed, is that We are going to see new industries that are born from this, and they are going to flourish, and they’re going to do really well. I mean, think about a company like Salesforce.com that didn’t exist 20 years ago, and now there are so many businesses employing what they produce to reach more people and generate more sales and generate more revenue, and it just –
SPEAKER 18 :
Scott, really quick, you know, the SEMA show, which was last week, I couldn’t go to, or two weeks ago, I couldn’t go to it because of the election and all of that. But they had demoed there a robot collision repair, whatever you want to call it. In other words, this robot could sand, finish, and paint, basically eliminating a collision person, if you would. You know, a body man is what we used to call them back in the day. You know, a collision technician, I guess you’d say today. But literally eliminating that person. Now, it’s early. Is it going to be perfect? No. But as time goes by and those things get more and more developed, that’s the game changer that will come down the pike.
SPEAKER 10 :
You know, it’s really interesting you bring this up. It addresses a really important need in the industry, too. My father-in-law owned two body shops. He quit school when he was 16 or once he was 17, and he just knew he was good at working on cars and fixing them. And his biggest complaint when he was retiring was, Young people, for some reason, do not want to go into that industry. They do not. and the people repairing cars were just getting older and older.
SPEAKER 18 :
They’re aging out, and that’s happening even more today, Scott, than it ever has. So you talk about what I just said a moment ago, and you now create an answer. You’re creating a solution to a problem that’s there, and my point is you’re going to see AI not just be huge like it is now for the Elon Musks of the world and what’s going on there. You’re going to see this stuff get scaled down even to where a regular small business, and yeah, it might be a huge investment. That robot might be a hundred grand but by the way the payroll of that guy would be the same and the robot will last more than one year so the reality is the guys you know that that owner will save money putting a robot in versus having a human out there doing it and i’m willing to bet that as those robots learn and get smarter and do it better and better and better they’re going to be less errors and correct there’s going to be less follow-up work where somebody’s like
SPEAKER 10 :
You know, hey, this guy did a bad job. Maybe he showed up hungover that day.
SPEAKER 18 :
We call them in that industry the comebacks. The comebacks go away.
SPEAKER 10 :
Yeah, yeah, exactly. Or they become a whole lot less. That’s right. And that right there, I mean, think about the time, money, and efforts. that is saved, and how many more jobs you might be able to do as a result of that.
SPEAKER 18 :
Yeah, and the reality is industries will change, Scott. The auto industry will include it. It will even start building for some of that. In other words, as time goes by and they start building cars and how panels get attached and different things along those lines, you’ll start seeing more modular-driven cars. You know, solutions, if you would, to where, you know, if something needs replaced, a robot can just put that whole new panel on, refinish it, get it going out the door it goes. I mean, these are the things that will benefit everyone, drivers especially. And by the way, it’ll lower the insurance costs as well, because when those repairs become less than they are now, everybody benefits.
SPEAKER 10 :
And so what I think people worry about and the naysayers want to get people worked up about right now to this point is that, oh, my God, economic growth. And, well, you know, you’re talking about increasing efficiency and productivity. So you can still, to your point, you can still have an economy that booms.
SPEAKER 18 :
Absolutely. More so. More so. I mean, right now, Scott, I mean, you take, and your father-in-law could attest to this very easily, you take any major weather event, no matter where it’s at in the country, here in Colorado, you know, we get a hailstorm that comes through. The collision centers will now be booked six months plus out doing nothing but that work, meaning that if you have any kind of a crash and you want something fixed… Good luck. The reality is what I just said will improve all of that.
SPEAKER 10 :
Well, he always said he loved the rain.
SPEAKER 18 :
Accident. Well, here in Colorado, it’s snow because it does exactly the same thing. So, again, at the end of the day, to your point, this will drive production up and make our GDP as a country improve, not go down.
SPEAKER 10 :
Without inflation having to skyrocket.
SPEAKER 18 :
That’s right. Yeah, well, in some cases, you might even see a little deflation because of what I just said.
SPEAKER 10 :
Yes, that’s right.
SPEAKER 18 :
And really, deflation is not the right word. It’s just a shifting of the cost, I guess you could say. It’s not deflation. It’s just we’re going to shift this a little bit because we can now do it better.
SPEAKER 10 :
But sort of disinflationary, right?
SPEAKER 18 :
Like a big screen TV. At one time, you go out and bought a tube TV. I can remember telling my grandkids the other day that when I was your age, I started out with black and white because we didn’t even have full color at that point. And they look at me like, Papa. Black and white. I mean, they’re looking at you like, what in the world is that? But, you know, back in the day, Scott, a full console TV in the 70s was $800, $900. In today’s world, that’s $5,000, $6,000. You can now buy a full board. I saw one at Costco the other day. 100-inch TV. Charlie and I were talking about it last week. $1,600.
SPEAKER 10 :
John, I remember breaking the antenna from twisting it around so much to try to get the channel in on my black and white. Yep. Sorry, not to segue.
SPEAKER 18 :
But the reality is, Scott, that’s a great example of where, because of scale and mass production and technology and so on, you’re actually buying a TV today that is much higher quality, much larger screen size for a fraction of the price it used to be.
SPEAKER 10 :
That’s correct. And I think… You know, and AI is going to drive that again. Processes will become more efficient. And to your point, you have that sunk cost up front that a business can depreciate over time. Correct. The robot, you’re still going to have people there doing it, and you’ll have somebody that controls all that automated stuff.
SPEAKER 18 :
You’ll have one guy that can control half a dozen robots instead of having six guys out there that he’s now trying to manage.
SPEAKER 10 :
Correct. And he can he can get more done with them. And maybe it’s a guy on one shift and a guy on another shift. And but yeah, and that just makes.
SPEAKER 18 :
Well, I mean, besides the fact to Scott in the collision center, again, your father-in-law could attest to this. You now with these robots have a collision center that can operate 24-7 instead of, you know, eight to five.
SPEAKER 10 :
That’s right. That’s exactly right. And jobs are going to get done.
SPEAKER 18 :
So your production overall as a industry, and then, of course, that turns into the country, improves.
SPEAKER 10 :
That’s right. And so, again, we’ll see whole new industries and all sorts of things popped up that we never imagined.
SPEAKER 18 :
Yeah, and really quick, I could see even coming into the household end of things, having small household-type robots, maybe not a robot that runs around the house, but maybe a kitchen robot that sits in the center island that has the ability to have all of your food prepared so the minute you come home, it’s all done, dialed in, and handled. And, you know, yeah, that may cut into the fast food industry some, probably won’t a lot because that will still exist. But at the end of the day, you could very well, by the way, even have a more – healthy society when it’s all said and done because this robot will do the things that you yourself wouldn’t do.
SPEAKER 10 :
Very good point. I like that a lot.
SPEAKER 18 :
To me, that’s some of the stuff you’re going to see coming down the road. I’m not a futurist by any means, Scott, but just common sense says this is the stuff that will happen.
SPEAKER 10 :
If I’m someone that I want to invest in trends like this and I want to try to use that to my advantage to profit, I would consider a company like NVIDIA because again, NVIDIA is just going to see more demand for products that drive this. Look at a company like Amazon, because Amazon’s web hosting services, they’re huge data centers. And for computers to be smart and learn these things or remember these things and have a place to go back and access these things, They need data centers. So Amazon’s going to see their business boom. And then on top of that, I would think about power companies.
SPEAKER 18 :
I was going to say you took the words out of my mouth. I was going to say the exact same thing.
SPEAKER 10 :
Yeah. So what you were saying earlier, all that extra compute power creates demand for things like electricity. And so, you know, I would look at utilities. Utilities will definitely boom because of this.
SPEAKER 18 :
Yeah, they will either have to add more capacity. You’ll have them doing, you know, one-off nuclear-type plants, things along those lines. That’s already being talked about. The particular, you know, the White House and the way that’s going to work here moving forward will be a lot more friendly to those sorts of things. So look for a big boon in that area as well.
SPEAKER 10 :
Yeah, you know, and along that line, too, I would look at the White House as being, I think we talked about this a week or two ago, just, again, with the removing of regulation and more consolidation, M&A, if you want to call it, going on. That’s right. Software companies are a really great place to look. I think you’re going to see a big boom there because these companies that Lena Kahn didn’t want acquired before by bigger tech companies all of a sudden become targets. You know, we look at an ETF like the iShares Technology ETF, ITY, I’m sorry, ITY, I-T-Y, I believe, is the ticker symbol there.
SPEAKER 18 :
Okay, awesome. Scott, how do folks find you if they want to follow you and learn more?
SPEAKER 10 :
Yeah, sure. Twitter or on LinkedIn, see Scott Garlis.
SPEAKER 18 :
Scott, as always, I appreciate it. Have a great Thanksgiving, sir. Thanks, man. You too. You bet, man. Appreciate you very much. Affordable Interest Mortgage is next. Speaking of mortgages, find out where you’re at on rates today. Affordable Interest Mortgage, 720-895-0500.
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SPEAKER 18 :
All right. And speaking of finances, we’ve got somebody that can talk directly about the things I just talked to Scott about. That’s Al Smith. Give him a call today. Golden Eagle Financial, klzradio.com.
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Al Smith of Golden Eagle Financial believes that retirement planning must be relational, not transactional. You need a retirement advisor who understands what you want out of retirement and Al Smith will help you achieve the retirement of your dreams. In order for Al to do that, he has to get to know you. There are no systematic ways to ensure your dreams come true in retirement. That’s why he draws on decades of experience to set you on your path to success. Sure, he’ll give you details and charts with analysis and all of the necessary things. But he also knows that you’re more than a financial spreadsheet. You’re a person with hopes and dreams who has a picture of what you want your retirement to look like. When you’re ready to get started creating a strategy that puts you on the right path towards those hopes and dreams. We’ll be right back.
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SPEAKER 07 :
It’s time to leave your safe space.
SPEAKER 18 :
This is Rush to Reason on KLZ 560. All right. In closing, a company that I would not be investing in right now, Jaguar. Yeah, that’s how you’re supposed to say it. Jaguar. Jaguar or whatever. Woke. And what do we say? Go woke, go broke. They’ve got a commercial that just came out that is about as woke as woke will ever be. It doesn’t have, thank you, Charlie, not a single car in the ad. Yeah, or even a mention of the car. It’s just this nonsense. I don’t have to say it. It’s utter nonsense. I watch all commercial. I can’t play it because all it is is visual things of just a bunch of literal freaks. I’m sorry, freaks of nature in this ad doing all sorts of weird things and basically making it woke. And the comments on the ad all over social media are absolutely hilarious. If you haven’t read any of them, I would encourage you to read the ads. I mean, read some of the comments on the ad. Somebody says, didn’t you get the memo? Woke is dead. And also so is Jaguar by the look of this turd. I mean, one person added, well, we know where the advertising team for Bud Light went. Another said that Jaguar just pulled off a Bud Light WTF is this. Another said that Jaguar has officially transformed into Bud Light 2.0. Where are the vehicles in this cringeworthy woke commercial? It’s just… The dumbest thing ever. And even Elon Musk tweeted on this or X’d out on this. And basically, Jaguar responded and said, we’d love to show you join us for a cuppa in Miami on the 2nd of December. Warmest regards. And Musk’s original tweet was, who owns or who owns the electric car company? Of course, Tesla. Do you sell cars after seeing this clip? It has got to be one of the dumbest auto ads coming from that industry. One of the dumbest auto ads I think I’ve ever seen in my entire life. They also came out with a new logo that, honestly, I looked at numerous times, and I can’t figure out what the logo says. You guys all know their previous logo. Anybody that’s been around cars would know what their previous logo looked like. This one, I honestly, I can’t tell you what the logo, honestly, it’s like a regular J and then an upside-down J inside of a circle. It’s the dumbest thing I’ve ever seen in my entire life. And you would have you think you were buying some sort of Gucci bag or something. It’s literally that kind of a symbol. It’s the dumbest thing ever. So, yeah, would I invest in this kind of a car company? No, because as we know, and I can predict this, this won’t end well for them. You would have thought by the last election and what just came out of the United States of America, and by the way, there’s a lot of support for what we just did worldwide, that Jaguar would have looked at this and said, yeah, we probably ought to pull back on that. Let’s table that ad. Maybe use that a few years down the road possibly, but yeah, let’s not go that direction right now. In fact, this whole label change, logo change, let’s hold off on that. Also, but no, these people went all out woke, and it will end up costing them. And by the way, they don’t build a really good car. Sorry, Jaguar owners, but they don’t build a good car to begin with. But this will do nothing but make their company even worse. All right, that’s it for today. You guys have a great night. Rush to Reason, Denver’s Afternoon Rush, KLZ 560.
Tariffs, Truckers, and Tragedy: Politics Meets the Road