The Liquidity Event Podcast: Episode 29

 

Episode 29: Casualty Insurance in Space

Our hosts are extra silly this week in Palm Springs. They’ve got GameStop entering the NFT space and SpaceX satellites blowing up in space due to geothermal storms. Also in the news is the housing crisis. Shane thinks AJ is making a foolish real estate purchase and he might be right. Speaking of foolish purchases, Frontier Airlines will buy Spirit Airlines. Just kidding, that’s not necessarily a foolish purchase but if you’ve ever flown Spirit, you know you get what you pay for. This one should probably be deleted.

Read the Full Transcript

Speaker 1:
This podcast is for informational purposes only and should not be considered tax or investment advice. Welcome to the Liquidity Event. A show about all things personal finance, with a laser focus on equity compensation, hosted by AJ and Shane of Brooklyn FI. Each episode will take you through the week's news on FinTech, IPU, specs, founder wins and fails, crypto and whatever else these nerds think is interesting. Learn more and subscribe today at brooklynfi.com.

AJ:
Hello.

Shane :
Welcome.

AJ:
Welcome to the Liquidity Event. I'm your host, AJ.

Shane :
Shane.

AJ:
What's up, Shane?

Shane :
Nothing. I'm wearing the shirt you got me.

AJ:
Where are you?

Shane :
I'm in Palm Springs.

AJ:
I did get you that shirt. Yeah.

Shane :
Did you remember when you saw it?

AJ:
Of course. No. It's funny because I bought it for you at the same time that my friend Michelle bought that shirt. So my friend Michelle also has that shirt and I also see that shirt with her not you so actually it threw me off. Threw me off at that moment.

Shane :
I don't feel so special anymore.

AJ:
Sorry. Sorry.

Shane :
Hello.

AJ:
You're in Palm Springs.

Shane :
Yeah.

AJ:
That's so nice.

Shane :
I'm wearing my-

AJ:
How do you like Palm Springs?

Shane :
There's a lot of... It's beautiful. There's a lot of cactus, cacti, hummingbird, schools-

AJ:
Cacti.

Shane :
Older folks. It's a great place to be a lizard, as you like to say, it's very dry.

AJ:
I am a lizard.

Shane :
I've got split ends AJ.

AJ:
You do have split ends. I've offered you conditioner of many sorts many different times. We've talked about Olaplex on this podcast before. I've recommended that to you many times and my... I'd say fallen on deaf ears, deaf dry ears full of sand from the sand dunes.

Shane :
We're going to go see a sand dune after this podcast?

AJ:
Yeah, let's wrap it up. I want to go hiking.

Shane :
You're going to make this one fast?

AJ:
Yeah. This is going to be a 12 minute episode folks. No one's going public except some British cannabis company that we don't really care about and economy's doing fine. Some real estate tech startups are going... Laying off employees and WAGS stacking and Wall Street Journal's got some good reports and Frontier's buying Spirit. This is-

Shane :
We'll see you next week.

AJ:
Thanks for listening.

Shane :
We got a lot of articles. Yeah. Let's dig in. We don't... Yeah.

AJ:
No. Yeah. There's great stuff.

Shane :
We're not going to do a deep dive because there's... The IPO market is still ice cold. Thanks to volatility in the stock market.

AJ:
Well, I did a deep dive into the pool this morning and hit my head so I'm running on fewer brain cells than normal-

Shane :
Good one. You're running on three instead of five?

AJ:
I am reading... I think I mentioned this before, but I'm still reading it now. I'm really in the swing of it. It doesn't have to be crazy at work by the guys who started base camp. Some good one liners in there.

Shane :
Yeah. Your friend Mariana who's here in Palm Springs with us pointed out that base camp is the company that had the big meltdown about at work. This company, they wrote this book about how everything's chill at work and then what was it? 20% of their employees quit? No 33% of their employees quit?

AJ:
Yeah. Yeah. A third of their employees quit because of a company policy that you couldn't talk about politics in slack.

Shane :
Because one of their owners or one of their first employees was a right-winger and was talking about how there's no-

AJ:
Is that the vibe?

Shane :
Yeah. He had been there the longest and he was in executive leadership and he said that there's no white supremacy. He was downplaying the white supremacy in America. I'm not sure if you've noticed all the Nazis floating around recently, but not a good take looking back retrospect, hindsight's 2020, but the fascism is on the rise. I saw an article today that said that after Charlottesville, 9% of Americans said that having neo-Nazi viewpoints is not a problem in America.

AJ:
Tell that to my grandmother. Anyway. Yeah, that's a huge shift, huge problem in our country today. Speaking of huge problems, GameStop taps Immutable X for an NFT marketplace. I still don't get NFT. Does that make me [maluma 00:04:18] a millennial who exhibits boomer tendencies?

Shane :
Yes, it does. No, no it doesn't.

AJ:
It doesn't?

Shane :
No, no, no. You're good. No one understands NFTs.

AJ:
I mean, I understand that you are buying something that you think will go up in value in the future, but it's not a thing that you get to have. It's a made up thing that exists in web three or the metaverse or wherever and it seems like you're layering on speculation on top of speculation. So I'm not into it.

Shane :
Is it a form of consumption or is it a investment?

AJ:
Consumption?

Shane :
Yeah. Is that what you-

AJ:
Yeah.

Shane :
Like a house?

AJ:
I think it's consumption. Yeah. Yeah. I think it's consumption. Yeah. You buy some... A van [Gogh 00:05:02] for your palace in the metaverse.

Shane :
I don't have any. I don't have any hot-

AJ:
Don't have any Van Goghs in your-

Shane :
No.

AJ:
Okay. Yeah. I'm a maluma, that's fine. I just wanted to call out this tweet that made me cackle, which is cut a P after sex so I don't get an NFT.

Shane :
That's a good one.

AJ:
Anyways, what else you got from me here? No, keep going.

Shane :
I don't know how to segue away from the STD joke.

AJ:
I don't know either. How about Frontier's buying... Speaking of STDs, Frontier is buying Spirit Airlines in a cash and stock deal. Have you ever flown Spirit Airlines before?

Shane :
I think so. It's probably a memory I've intentionally blocked out, plenty of opportunities for me to remove things from my memory banks and this is definitely one of the items that I've intentionally removed as a Frontier flight, or maybe Spirit flight, I don't know. This seems like the weirdest mashup of companies. I mean, not actually that big... It's like Duck Dynasty getting together with bachelorette and filming it all at once. Like let's just see what happens here.

AJ:
Let's just go wild.

Shane :
More than that. Yeah.

AJ:
It's like the Alabama show of airlines.

Shane :
Yeah. This is Flo Alabama. If Flo was a company-

AJ:
Flo Alabama, that's what I meant. Yeah. Flo Alabama was a company, it would be the merger of Spirit and Frontier. My favorite Spirit memory was, I can't remember where I was flying, somewhere cold to somewhere warm. Everyone was really anxious to get out probably had to be in New York to LA, I'm guessing and that was the first time I had flown Spirit. I must have been in college and I didn't understand that you had to pay for everything. So of course me being the college student was "I have no money. I got to book this cheap ass flight but then didn't realize that you had to pay for literally to bring your cell phone on." You have to pay for everything. You have to pay for a seat to sign in.

AJ:
So I was really upset and the flight ended up being delayed by like six hours. The best part was just, you go up to the Delta Airlines desk with the United Airlines desk and the agent will try to help you and try to get you a new flight, explain what's going on. The Spirit person was just like flight's delayed six hours. I'll be back in five hours and 30 minutes and just peace out.

Shane :
Cool.

AJ:
You couldn't call them right?

Shane :
Yes.

AJ:
Anyways, they're merging. So they're going to be a potential monopoly in the low cost flight space. I look forward to not flying for Spirit in the future.

Shane :
Do you have this chainsaw comment here?

AJ:
Right, right. Sorry. So I remember listening to an interview with the former CEO of Spirit Airlines who has not been there in over five years Ben baldanza, great name, great character. Like a character from Flo Alabama shore, I would say and he was asked about the haters by a Muppet like anchor person for the airlines state of the hate report, basically they made fun of themselves because everyone gave them such bad reviews. He goes, "If you do the math 99.9% of Spirit customers did not complain. That means you're more than likely to be injured by a chainsaw than complaining about spirit. So we must be doing something right.

Shane :
Yeah.

AJ:
Great businessman that Ben Baldanza.

Shane :
Yeah. I mean, I feel like the people that fly Spirit and Frontier typically live in remote areas where chainsaws are frequent more frequently used so that's saying a lot.

AJ:
Yeah. You're-

Shane :
Places such as Northwest Arkansas.

AJ:
What's going on in Northwest Arkansas. Are we moving there?

Shane :
I don't know. I'm trying to pick up 10K, an easy 10K then. Yeah. In the age of mobility. No, I should do an experiment where I try to get all of the nomadic benefits of the United State.

AJ:
Yeah. Buy a house. The CEO of Airbnb is spending the next year Airbnb is Shane Mason is going to collect $30,000 from Arkansas, Tennessee and Kansas.

Shane :
Yeah. I'm going to buy the dollar house in Italy. I'm going to get the $10,000 bonus from Tulsa, Oklahoma for living there. I'm just going to establish residue, but I'm really going to be a resident of Puerto Rico where there's no taxes-

AJ:
Are you an Instagram follower of cheap houses japan?

Shane :
No, I don't give any bucks to Zac so...

AJ:
Okay. Sorry about you're not on Instagram temporarily. So you're on your high horse.

Shane :
Because I can't find my password.

AJ:
Sorry. I was just getting on my high horse.

Shane :
Nice.

AJ:
No, there's a great Instagram account called Cheap Houses of Japan where you can buy an incredible Japanese styles and home in the mountains for $15,000 USD.

Shane :
Little fixer upper.

AJ:
So you could take... Yeah, you could take your Arkansas money for moving to... Live Arkansas for a year, head out to Kanagawa prefecture and get a sick, former nunnery or something.

Shane :
Yeah. I'm playing with house money at that point, right? What's that guy that... The famous kid on Craigslist that kept doing trades. He traded his way all the way up to a Porsche and trade in a bicycle for a nicer bike, but the other person wanted the cheaper bike and then he gets something nostalgic that's underpriced and by the end of like 25 trades, he had a Porsche. It's pretty dope.

AJ:
But this is completely off topic but it's just one of my favorite, kids figuring out how to make money story is the guy in Austin. He was like 12 or 13, who would wait in line at Wildly Popular Franklin Barbecue Place. People would wait for two hours and he would take their order and wait in line for them for like $100 and people would gladly pay it. So he was making $600 a day as like a 12 year old. Pretty good game.

Shane :
I might have paid him back in the day.

AJ:
You did?

Shane :
Yeah. That line is cross. [inaudible 00:10:55]

AJ:
Last minute date idea.

Shane :
Yeah. I miss barbecue. All right, what else do we have here? We've got therapists exploiting vulnerable patients. I didn't read this one. What's going on here?

AJ:
This article just made me vomit a little bit inside and die a little bit inside. It's a-

Shane :
There's a lot of mental health themes going on recently, right? There's a lot of mental health articles about, I'm going through a BetterHelp. I got fired by my therapist. You've got a new therapist or no, not a new one, you have one that you like a lot where-

AJ:
She's new. She's new.

Shane :
There's a theory that therapy is booming. Should we get the stats on BetterHelp's fundraising?

AJ:
Yeah, for sure. I mean therapy is booming. I mean, we all went through a traumatic, global crisis together. We're big believers in therapy. I think amongst our clients, our clients are big believers in therapy, but this article is about therapists in the UK who are exploiting vulnerable patients. Basically they're con artists who are collecting people's money up front and then delivering one or two good therapy sessions or therapy like hours of their time and then they basically ghost these patients and leave them hanging. And it's awful because it's really hard to go ask for help. So when you make them move, as you have recently found out to actually find a therapist, schedule the appointment, set it up, get to know them, that's like a huge time suck and endeavor.

AJ:
So for that person to be a scam artist, you're going to be in therapy for a long time after your therapist scams you.

Shane :
Yeah.

AJ:
That's not funny but I can't help but laugh at the irony. Just awful. Yeah. This is like down with the people who scam old people because they have no one to turn to. It just makes me sad for humanity.

Shane :
Yeah. I haven't felt emotionally rejected in a while, but when my therapist fired me, that was painful. I didn't like that very much. I guess not all therapists are great communicators.

AJ:
Had you had a session where you talked about yourself yet? You already had?

Shane :
Mm-hmm (affirmative).

AJ:
So you opened up and then they fired you?

Shane :
Yes.

AJ:
Wow. That's brutal.

Shane :
Yeah. Right?

AJ:
That sucks. I misunderstood your story. I thought-

Shane :
Because you don't listen to me.

AJ:
You hadn't started. Speaking of not listening article for the Wall Street Journal, talking about the new benefits that employees could offer to make you stay. One of the things apparently employers could offer is that the only thing standing between an employee staying and leaving is a really good manager.

Shane :
Yeah.

AJ:
So you're saying, yeah, we need managers who listen better.

Shane :
Yeah. First another [inaudible 00:13:35] One of their like people don't leave jobs. The main reason people leave jobs is their immediate boss is a dick, right? Or if they don't leave it's because they love their boss and they don't want to leave them hanging. Does that resonate with you?

AJ:
I'm trying to think back. Yeah. I mean the job that I left before we started Brooklyn FI, it was really, really hard for me to leave because I really loved and respected my boss.

Shane :
Right.

AJ:
That decision was way harder, I mean, it was necessary because that was what we were decided we were going to do and Brooklyn FI took off a lot sooner than we thought, but that was a really hard conversation and I dreaded it and I still feel bad about it. I still miss working with that person.

Shane :
Yeah. Yeah. So this article's got comments like things that keep people sticking around, which are all really interesting in the age of COVID there's a lot of... During the great resignation, the only thing keeping you working there is your boss, if you love your boss. The other benefit that what might keep people working there, which is really interesting is that teams decide compensation for other team members. Now that sounds crazy at a high level, but I've actually heard about this in practice. Heard about this at Expensify.

AJ:
Really?

Shane :
Do you know how they do compensation over there?

AJ:
No. Because when I read this, I was like, "That sounds crazy but I bet it works," was my thought. Like I don't understand it, but I see how immediately this could be helpful. What they do over there?

Shane :
Well, the way that they do it, from what I understand, I could be wrong about this. Listeners feel free to... Dear reader, feel free to challenge me on this. But they have two photos that pop up of your colleagues and you decide if one person has outperformed the other one or if the other person and which one of them deserves... Has more merit essentially and you do that. With 120 people, the amount of times you would have to do that is huge, right? Like thousands of times and I don't think everyone has to participate, but they use the outcomes, the data from that determine, including the CEO, I believe is included in there. That is how compensation is determined. So it's like the boss doesn't say who gets to pay who what, it's like everyone decides who's really the most valuable to the team.

AJ:
Yeah. It's like that peer review the concept of like a 360 review. It's not just your manager or self review. It's like the people who you actually work with because if you're slacking, someone else is going to have to pick up slack. So who better to decide how you're doing than the people at lateral levels use the same.

Shane :
Yeah. I guess that works for a company that is public and is doing, I think hundreds of millions in revenue with 126 employees. But when you have to deal with supply and to demand issues, I don't know how that compensation structure would work for a little less atypical company, but yeah interesting. Giving people autonomy and flexibility and good managers, not surprisingly keeps people sticking around.

AJ:
Yeah. There was one suggestion in this article about how to keep your employees, this gray collar strategy, which I'd never heard of, basically talking about how most of the dollars and time that goes into training people for new roles goes to people between the ages of 25 and 35. But actually as people live longer, the talent pipelines are drawing up, people are having fewer children. So actually they're saying that the way that you can keep talent is reinvest in your... The older members of your team, potentially the boomers or even the malumas, the millennials who exhibit boomer tendencies, who don't understand NFT.

Shane :
Yeah. Well, I'll be living longer, hopefully. So upskilling throughout our careers is apparently going to be really important. So I don't know if this is how to retain key employees are just going to be necessary for any companies that have employees in general because pretty soon... I don't know how to use TikTok and in about 20 years, I will not to use a lot of toks.

AJ:
PikPok.

Shane :
PikPok. My favorite joke by the way is to ask my younger girlfriends what their [tick 00:17:38] tangle is, which always gets a little laugh. What's your tick tangle? You don't have-

AJ:
I don't know what my tick tangle is, but my first AIM screen name was peaches and punk.

Shane :
Yeah, there we go. I need everyone-

AJ:
Which is what would... If I had tick tangle, that's what it would be.

Shane :
Peaches and punk. Yeah.

AJ:
Peaches and punk, not and punk, and punk.

Shane :
Excuse me.

AJ:
Excuse me. What else we got here? We got, pain me more or I quit. Workers play risky game with their bosses. So basically mostly millennials followed closely by gen Z, gen X and boomers so that's everybody. Basically if offered outside rules, nearly two thirds said they would quit their current jobs. This piles on pressure out to the current employer taking an outside offer but this article saying this could damage your relationship with your current employer. Yeah, no...

Shane :
I've done [inaudible 00:18:42] to this before.

AJ:
It can be... What's that?

Shane :
We've only said no to this... I mean, I've only heard this once before and that was unfortunate because the answer was we'll see you around. That's a very risky strategy to say pay me more or I quit. That's-

AJ:
Yeah. I also think there's this... We experience this as business owners, but it's employees read the room. If you work at a new company, going to get an offer from Google and coming back to your 10 person company and saying, "Google offered me $250,000, you need to give me a 30% raise." They're going to say no likely, at that point, there might not be that additional salary available to you. So making those demands, make sure you understand... Make sure you're doing it for the right reasons, which is that you're unhappy not just to get a rise out of your boss, get more money.

Shane :
Risky approach cotton.

AJ:
There will be dragons.

Shane :
There will be dragons. Yeah. There's a lot of articles about how terrible it is to buy homes right now. As somebody on Zillow and is putting offers in, I'm curious what you're taking. As according to Bloomberg, there is survey that says, "Bloomberg gets 1,000 people."

AJ:
Well, yeah. First of all, I disregard this article about... Immediately, because this is 25% of people. Well this is 25% of 1,000 people that got asked in a Bloomberg survey. So this is not a large enough sample size for me to give a shit. Sorry for my French-

Shane :
Okay.

AJ:
That's my hot take.

Shane :
Okay.

AJ:
But yes. Agree. Hard to agree this fake 24-

Shane :
Because I was in the car when your realtor called you and told you that you didn't get the house that you tried to buy.

AJ:
Yeah, no, it's literally the worst time ever and that's what I'm hearing from every realtor and agent that I'm friends with and every... I mean, it's a great time to be a realtor. You have to work a lot harder because the market is... It's crazy in big cities for the most part. But smaller cities are... Big city people are going to smaller cities. So it's just nasty everywhere.

Shane :
So why are you buying a house right now Considering how-

AJ:
I'm buying a house-

Shane :
It is to be a buyer right now?

AJ:
I mean, my reasons for buying a house are purely emotional and familial in that my family, my mom and my sister and I don't have a base in Los Angeles right now and we all want to spend more time together. My grandfather is 98. I want to be near him. He sold his home last Summer so there isn't a place for me in Los Angeles and I want to have that place that I can go. So that's why. It's purely a luxury expense that I'm doing for emotional reasons. And I'm not moving to LA, I'm keeping my place in New York. So it's a big, expensive into that's purely emotional.

Shane :
Right. So you want to spend $1 million on something you don't intend on using?

AJ:
I'll rent it out.

Shane :
So you want to-

AJ:
This is not a good idea.

Shane :
I'm using the podcast as an opportunity to corner you and really-

AJ:
To corner me? Yeah. I have not told my financial planner about this who we will be seeing on Friday.

Shane :
Right. Yeah. You tried to sneak one in with that offer last week.

AJ:
Yeah. No. I mean, Los Angeles is where I grew up. It's a purely emotional decision that is a terrible financial move and I recognize that and I feel... I'm talking to our clients all day long about how awful the housing market is not just buying houses, but also renting houses, renting an apartment in New York city. We've got clients who left, at the beginning of the pandemic paying, $5,000 for a three bedroom in Williamsburg, now they're coming back and the rents are 8,000 or 9,000 a month, just wild price differences in a short time.

Shane :
Yeah. So everyone's moving out of the cities and into the countries and driving up prices. Rents are going up in this city. Where is it cheaper to live, pure supply and demand? I mean, is it just wealth inequality? I mean, does Jeff Bezos own 300,000 rental apartments across the United States? Where is the release valve on living expenses?

AJ:
I don't know where it is. Apparently in Arkansas, that's where it's cheaper to live. They'll literally pay you to live there.

Shane :
It's not like there was a baby boom 18 years ago and then everyone's moving out into the cities. Suddenly all this money needs to... All these people are taken up. Is it because they destroyed all of the homes and made luxury condos that are all empty?

AJ:
Yeah. So a couple things happened. Yeah, that happened. I mean yeah, Where is the housing stock? Why are we having a housing shortage? Why are all these prices going up so much? It's like, "Well, people have more money. They want to live in specific cities." So those prices are going up. They're pushing other people out. It's just this gross, title wave and constant ripple effect. But look, their supply chain issues, it's more expensive to build houses. We saw a lot of those articles during the pandemic.

Shane :
There's known more people. The old value of homes, like the old quantity of homes works just fine. I guess-

AJ:
I think there are more people. I think populations are increasing in cities like Seattle, Austin, Denver, like there are more-

Shane :
I thought they were moving out of the cities and I thought we just... COVID just killed 600,000 people. So we're-

AJ:
I don't know. I thought the city. I thought the populations were going up so I could be wrong there, but that's my impression-

Shane :
Stay tuned next week for when we actually do our homework-

AJ:
We figured out what's going on. Anyway, speaking of real estate.

Shane :
Yeah-

AJ:
This company called-

Shane :
Cool tech startup in the real estate spot. What you got?

AJ:
Yeah, it's called Rhino. I had never heard of this. Their business model is that they offer an alternative to security deposits. So instead of those folks who don't have a ton of cash lying around who need to pay first and last month's rent plus a security deposit, it could be thousands of dollars to rent an apartment. If you don't have that, you can use a company like Rhino to spread out that payment. Over a few years, I imagine you're paying them a bit of interest. Unfortunately, the story here, this article is about Rhino laying off 57 of its employees and more than 20% of its staff. I imagine they had staffed up. I don't know why they're not doing well. Apparently, the rental market's off the chain. So maybe they scale too quickly. I'm not really sure what's going on here, but it sounds by, in my book, that's a cool idea. I wouldn't have thought about that and in my early 20s and 20s really, I would've loved to have Rhino around. There were definitely apartments that I loved but didn't have $5,000 lying around for a big security deposit.

Shane :
Yeah. The monetization strategy, I'm interested in laying off a bunch of employees. I think I read that they were trying to make a move towards profitability sooner or trying to extend the runway of the company. Maybe they were looking at the tech and they realized that, ""Hey, the ratio of engineers to marketing is not just where it needs to be. So unfortunately we are bad at managing... I wonder how many companies the CEO is run, what type of mentorship he's getting, weather forecasting is so... I mean, it's hard to predict with the fast growing company, but really cool idea, right? I'd rather not come up with a month's rent in my mid 20s. If I can put that on layaway, there's a lot of ways to monetize that I'm interested how they do it. It is unfortunate that they have to lay off a bunch of the same people that probably need the money for.

AJ:
Right. What are they going to do now?

Shane :
Yeah.

AJ:
I think we got time for one more. One of our favorite listeners and favorite Brooklyn FI team members through this, in the slack channel last night to roast you specifically Shane, in that the... It was like the SpaceX or not the SpaceX, sorry, the Starlinks were breaking down. Did you read that article about how like there was some storm in space and the satellites got knocked out and lost their internet?

Shane :
Yeah. I mean, it's another testament to how difficult the engineering is around space is that, Starlink is reliant upon launching thousands of satellites, a lot lower in the atmosphere so that they can more easily, there's less time in between. I forget how far... There's an article in here about the International space station being decommissioned in the year 2030, it's a few hundred miles up. So there's lower gravity whereas the close to yard to earth, the stronger the gravity is the thicker the atmosphere is. But the lower the latency is for the internet. So they need thousands of satellites to just blanket the whole sky and they launched 48 in a Falcon 9 and then a geothermal or geomagnetic storm from the sun. How crazy is this? That the sun can just pop a magnet whip from its core towards the earth and just wipe out 40 of the satellites that they threw up there.

Shane :
I'm showing surely hundreds, like it was cool how they tried to put them into low drag mode because they were starting to head closer into the atmosphere and to cut down on the drag. They extended these aerodynamic surfaces to allow them to act more like F1 cars instead of having high drag. But they couldn't do it in time. So they just started tilting towards the atmosphere and they're going to burn up upon entry. It's pretty rad. I mean, I hate that it happened. I love Starlink. We have another article about Starlink that I'll have to get pushed to next week, but yeah, bummer,

AJ:
Startup idea for you, ready?

Shane :
Yes.

AJ:
You got it? Hit me.

AJ:
Insurance, against catastrophic space events caused by the sun, in sun insurance know-

Shane :
Wow. So you created a whole company just for the naming joke. Just for the-

AJ:
Well, the name came after I was thinking about the company, but like yeah. Yeah. SpaceX lost how many billions putting those satellite, building the engineering satellites, building them, getting them up there. All those fuel costs like very expensive.

Shane :
Yeah. I mean, I don't-

AJ:
It'd be cool to have-

Shane :
Companies be [crosstalk 00:28:28] cool and it's actually not that expensive with the reasonable rockets. So I'm curious how much it actually costs.

AJ:
But insurance, nice insurance pay out there.

Shane :
Maybe there are... Hopefully there was insurance because Elon can't take another hit. Cool.

AJ:
Cool. Let's go on a hike.

Shane :
Let's do it. Thanks everyone.

AJ:
Let's take a hike.

Shane :
Email us at liquidityeventatbrooklynfi.com. You can leave us a voicemail and we will play it on the air. HTTPS pod inbox.com/the liquidity event. Show notes are available at Brooklynfi.com slash episode 29 and Brooklyn FI stands can leave us a review if they want to be weird about it. We've got eight, five star reviews right now, which is great. Really fun. We read all of them. Thank you everyone that leaves those. We love you guys. Have a great day.

AJ:
Bye.

Speaker 1:
Thanks for listening to the Liquidity Event, hosted by AJ and Shane of Brooklyn FI, Head on over to brooklynfi.com where you can subscribe to the podcast or YouTube channel or if you want to learn about their full service, financial planning tax and investment firm, specializing in tech professionals and creatives on the paths of financial independence. We'll see you next time on the Liquidity Event.