The Liquidity Event Podcast: Episode 45

 

Episode 45: Toilet Paper Is the Best Inflation Hedge

Welcome to episode 45 of the liquidity event. Let’s hope this episode is better than our 45th president. We’ve got an extra special co-host with week: Katelyn Murray, financial planner extraordinaire at Brooklyn FI. On the pod our hosts are excited about more equitable equity plans spearheaded by private equity giant KKR. Our hosts are super disappointed by Wells Fargo, again. Last time, it was fake accounts, this time, it’s fake diversity interviews. In other news, a new billionaire was created every 30 hours during the pandemic while another million people were plunged into poverty at the same rate. The episode closes with exciting news of a health startup that promises a genetic test to pair women with the right birth control. This one is cyclical.

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, IPOs, Specs, founder wins and fails, crypto and whatever else these nerds think is interesting. Learn more and subscribe today at brooklynfi.com.

AJ:

Hello, and welcome to the Liquidity Event. We are your hosts, AJ.

Kate:

And Kate. And an interesting twist of events.

AJ:

Ooh, welcome to the show, Kate. This is the Liquidity Event. As I mentioned, episode 45 being recorded on June 1st, happy June, airing on Friday, June 3rd. This week, we've got lots of exciting news on the equity front, actually the theme of this podcast. So, we'll actually be talking about what we promised at you in our original description. I'm excited about that. We've got some fun news about giant turbines beneath the sea in Japan. And some cool health advances. A bunch of fun stuff this week. I'm excited. How you doing Kate?

Kate:

I'm excited. I am here. I am ready to talk about all of the fun things happening in the equity markets. And yeah.

AJ:

There's not many fun things happening in the equity markets, is there?

Kate:

There's not. I'm surprised that we have a equity centered episode, because I'm like, wow.

AJ:

Leave it to me to find the silver lining of the shit storm that we're experiencing right now.

Kate:

Just rooting through like a truffle pig.

AJ:

Yeah, like a shuffle pig. Who are you?

Kate:

Yes.

AJ:

Who are you and what are you doing on this show?

Kate:

I am a complete stranger. I don't know this woman. No, I am a senior financial planner here at Brooklyn FI and I work with AJ day to day servicing our fabulous financial planning clients. And yeah, taught I'd step in and get a little podcasting action. Help you out this week.

AJ:

Amazing. So, as you know, we always start out the show with some really terrible banter that fills up 10 minutes, then we run out of time. So, let's get into it. What are you reading? Reading anything good this week?

Kate:

I am actually reading two books. The first is Southern Book Club's Guide to Slaying Vampires, which is very [inaudible 00:02:30].

AJ:

Okay. Is that a fiction or nonfiction?

Kate:

It is. Oh, oh, definitely fiction for now. And I'm also reading How to Be a Conscious Eater: Making Food Choices That Are Good for You, Others, and the Planet, which is a very Portland selection. And I did buy it when we were there for our retreat. So, pretty cool.

AJ:

What was the grossest thing you saw in Portland?

Kate:

Oh, I mean, there was a lot.

AJ:

Okay. I'll go first while you're thinking. The grossest thing I saw in Portland is our, we had our company retreat there two weeks ago and then we all got sick. But before that, our hotel had a soaking pool, which is really awesome. And you could go and like, it's a giant hot tub that could fit 40 people. But at the end of the day, there was just this scum floating on the surface and it was so disgusting. I was like, we were sitting in that all day. So, gross.

Kate:

Yeah. Very, very uncomfortable. I think the grossest thing I saw in Portland was downtown Portland.

AJ:

Mm. Yeah. [inaudible 00:03:38]

Kate:

[inaudible 00:03:37].

AJ:

Pretty unfortunate down there. Big homeless population problem. And just generally feeling the effects of the drug epidemic right now. Lots of folks addicted to painkillers and bad stuff. So, that's a huge bummer.

Kate:

No fun.

AJ:

Speaking of huge bummers, what are you drinking this week?

Kate:

I am drinking fabulous Ember Gin and tonic. Yes, I hustled it back from Scotland. Perfectly legally and yeah. It's great.

AJ:

Amazing.

Kate:

Good gin.

AJ:

Amazing.

Kate:

How about you?

AJ:

So, I'm going to introduce you to my friend. This is my new gallon water bottle. Because every time I go to the doctor for one of my many, many health problems, they say, eh, I don't really know what's causing this. Do you drink 64 ounces of water a day? And I say, absolutely not. And they go, well, that will solve 90% of your problem. So, now I'm attempting to drink one gallon of water every day. And I'm doing pretty good so far. I mean, this is ... Anyway.

Kate:

Wow.

AJ:

That's me. That's some good [inaudible 00:04:41] these days.

Kate:

I have one of those downstairs that every couple months I pull it out and fill it up. And then I'll set it beside my desk and work on it for a couple days.

AJ:

I mean, I look insane. It's a great conversation starter in meetings. It's like, oh.

Kate:

Yeah. Yeah.

AJ:

Anyways.

Kate:

I mean, maybe everybody just thinks that you're practicing to be a bodybuilder.

AJ:

Yeah. I mean, who's to say I'm not. I'm definitely not. No deep dives this week folks still a little quiet dusty desert road in the IPO market. So, we'll hopefully have some, hopefully summer will be heating up and we'll see some non nano caps going public. So, a few companies have been going public. But they're raising five, 10, 15 million dollars in my book. Good for them, but really not a ton to talk about on this podcast. Those companies typically have between one and 15 employees. And it's just, it's not for us.

AJ:

But in this equity market where it's not a great time to be an investor, not a great time to be a consumer, lots of rumors and headlines about a potential recession coming. But we saw this really interesting article from Y Combinator, who does a lot of investment in early companies. They have a whole incubation or incubator program for young founders. They publish this note to all of their current class of founders basically saying, gird your loins kids. We're going to get through this. If you don't have money, you got to find a place to raise it right now. And what do they call it? They called it, you got to get to default alive, which is basically like ...

Kate:

[inaudible 00:06:23] default alive.

AJ:

Yeah. I'm [inaudible 00:06:26]-

Kate:

Intent.

AJ:

Make sure you have enough cash not to evaporate because you probably will have a very hard time raising capital if we are headed ... Right now you're having a hard time raising capital because larger investors are shoring down their shore bets. They're kind of retreating a little bit, waiting out. I think everyone right now is kind of on the sidelines, which is causing this drought. So, we haven't quite hit where like, no one's raising anymore. It's like, everyone's kind of punting deals or pushing IPOs, not happening this quarter. It's going to happen in September. We're just kicking our can down the road.

Kate:

Yeah, everybody's being wallflowers causing the situation to get a little worse.

AJ:

The perks of being a wallflower as a VC could be taking all these meetings, stringing these founders along and waiting to see kind of who can reach that default alive and see the other side of this. So, the perks of being a wallflower, ugh. Remember that book?

Kate:

It's very good.

AJ:

I feel that's when I learned about the Smiths. I read that book in seventh grade and I was like, what is the Smiths? And I was like, oh my God, these are my people. I'm so sad.

Kate:

I had an ex-boyfriend who was very much into the Smiths, too much. [inaudible 00:07:40]. But they also did the theme song for Charmed. [inaudible 00:07:44]

AJ:

Oh, did he walk around his pink tulips in his back pocket?

Kate:

No, he didn't take it that far.

AJ:

Okay.

Kate:

But he also [inaudible 00:07:50], so it was a whole vibe.

AJ:

Oh, okay. It was a vibe.

Kate:

It was that vibe.

AJ:

A vibe. Okay. So, that's depressing news about the equity markets. So, if you're a founder right now, or you're working in a very early stage startup, try to stay alive. Later stage startups in the VC world, we've got this private equity firm, KKR. They've been around forever and they were making headlines, I think this is two weeks old now at this point. An investment that they made back in 2015 in a door company called CHI, company that I had never heard of. I'm sure if you've had a door installed, you may have heard of them, made a big bet. So, KKR, this huge private equity firm, billions of dollars of revenue each year, they're going to make 10 times their investment. Great, good for them. Private equity wins. Happy. But I love this story so much because part of the initial investment that they made in 2015 was basically to overhaul the company employee stock plan.

AJ:

So, instead of employees at every level, even their hourly delivery drivers and door installer folks, even the hourly employees were added to the company's stock plan. So, anyone who worked at the company got equity, which is really cool. And not only that, but anyone who made less than a hundred thousand dollars annually was never allowed to invest their own money. So, I assume the way that he structured the plan was a way that they wouldn't actually have to exercise options or anything that. So, pretty cool here, right?

Kate:

Yeah. That's awesome. I love that it's such an inclusive plan. I wish this was more of a trend in company equity that we would see everybody getting included. And I think that would be cool.

AJ:

Yeah. I mean, it's cool that it's coming from such ... We hear about equity all the time at startups that our clients work at, which is great at a 10 or 15 person company. Amazing. I hope that you are a 3,000 person company someday. But coming from a firm this big, at such a high level, who has all these huge portfolio companies, this is an amazing signal. And they're saying it's a model that they've been rolling out to all of their industrial holdings. So, CHI, Overhead Doors was acquired by New Core, which is a major steel conglomerate. Like cool. That's very much out of my expertise. But yeah, I just love that. Love that the employees stand to make between 20,000 and $800,000 each. You're an hourly delivery driver, driving these steel doors around, you get a $20,000 equity payout. That's pretty cool in this environment right now.

Kate:

Very cool.

AJ:

So, that's a company doing something great. And us applauding them. How about a company doing something really bad and us looking down on them. What did Wells Fargo do this time?

Kate:

Oh yeah. We can make a podcast just on that, what did Wells Fargo do this time?

AJ:

So, what would Wells Fargo do? Whatever it is, do the opposite.

Kate:

What would Wells Fargo do? Yes. [inaudible 00:10:52]. Yeah. So, they are looking to "increase diversity" in their sort of employee pool, which we are all for. Absolutely. Diversity inclusion are huge topics.

AJ:

Yeah. If that's not part of your hiring plan at this point, get out of here.

Kate:

Yeah. You're way behind.

AJ:

Yeah. Anyway.

Kate:

Yeah. No, definitely. Especially in our industry. But unfortunately Wells Fargo was, they were talking the talk, but it doesn't seem they were walking the walk because for a lot of open positions, they would interview a diverse candidate, which they defined as a person of color or a woman. And they would interview [inaudible 00:11:43]-

AJ:

Diversity of half of the population.

Kate:

Right. Yeah. So, okay. Start there.

AJ:

Are we 51%? Actually aren't we now at 51%?

Kate:

I think so.

AJ:

Aren't there more women. So, actually if you're counting ... Anyway.

Kate:

Kind of flipping it. Yeah, yeah. No, but so they would interview, they would seek out diverse candidates "to interview for positions". But unfortunately the so-called diverse candidate would often be interviewed for a job that would already be promised to somebody else. So, we're holding interviews with seemingly not much intention to hire.

AJ:

That sucks. Yeah. I mean, what's a word for that. It's-

Kate:

Bullshit.

AJ:

Show boating. Yeah. Bullshitting. Yeah. Sure. Bullshit is better.

Kate:

Show boating.

AJ:

But yeah. I mean, yeah. So, Wells Fargo got in trouble that was years ago at this point, what eight, 10 years ago for a lot of employees being pressed from corporate to hit their targets and numbers were opening additional accounts that customers did not ask them to open. So, if you had opened a checking account at Wells Fargo, you may find that you have a line of credit and four other savings accounts, and that was not good. And they got a lot of trouble for that. And they seem to have kind of weathered that storm and come out the other side. And now we get this, which is just not a good look. Not a good look. I would not be psyched to be doing PR for Wells Fargo at this point.

Kate:

Yeah. How much would they have to pay you to work PR for Wells Fargo?

AJ:

50 million dollars.

Kate:

Yeah. Yeah.

AJ:

I guess, I mean, no, the number's lower than that. I hate that question because it's like, yeah. I mean, I would not it, but if it would change my life and I had to do it for two years, then I think I could do a good job and turn it around.

Kate:

They would have to pay me a lot because I don't really know how to do PR right now. This is fully outside of my expertise. I'll take a crack at it.

AJ:

Yeah. Yeah. I didn't like this at all. I mean, it's just devastating. And not only is it devastating just as a consumer to learn of these practices, but especially for the candidates who, these are like, these were high level, VP positions where you think you're getting a job and you're walking in for an interview and you're just wasting that person's time. That person took time off work probably. Maybe took a sick day to go to the interview. It's just super gross and I don't know how they're going to come back from this. And it was actually, there was a whistleblower who was like, this is not cool. I'm going to report this and he got fired. So, definitely some sweeping it under the rug. Ugh. Don't like that one at all. Got a segue for me, Ms. Murray.

Kate:

Well, speaking of things that we don't like, inflation.

AJ:

Don't like inflation. Don't like inflation.

Kate:

Yeah.

AJ:

It's happening. Where are we at now in terms of-

Kate:

8.3. We're not far from the highest in four decades. Not to be ... Absolutely.

AJ:

[inaudible 00:14:51].

Kate:

Not to freak everybody out. Yeah.

AJ:

But remember Arizona iced tea still 99 cents for a tallboy can. Don't forget.

Kate:

[inaudible 00:15:05] market security.

AJ:

So, yes, there's this Wall Street Journal article about 15 ways to deal with rising interest rates and inflation. And it's like, some practical tips. It's kind of a polling of various financial advisors and folks. And there's some good tips in there. But my inflation hedged, if it's just buy a ton of Arizona iced tea and system off of that it'll be fine.

Kate:

You know if John was here, he'd say, buy I bonds.

AJ:

I bonds. That's true. Yes.

Kate:

I bonds. That's the only way to go.

AJ:

Yes. Every tax payer can buy, what is it? $10,000 worth of I bonds.

Kate:

10,000, yes. Yeah.

AJ:

Cool.

Kate:

I think if you fill out the paper forms with your tax return and mail them in, it's 5,000 though. Like I think the limits lower versus if you do it online, it's wild.

AJ:

Yeah. I mean, look, how do you fight inflation? I don't know. Now we have inflation. We had remember shadow inflation where businesses would shrink services. Now we have shrink inflation where companies are shrinking the amount of product you get. What is this with this toilet paper nonsense. What's going on here? Someone's counting.

Kate:

Yeah. 264 sheets of toilet paper has now become 244 sheets. So, count your sheets people. Do an inventory. Maybe build a G Sheet just for that. Just [inaudible 00:16:21] it.

AJ:

A G Sheet of how much toilet paper the Charmin has shrunk their role versus, who's the other one? Angel Soft. I'm for sure Charmin.

Kate:

Angel Soft. Yeah.

AJ:

We're a Charmin family here.

Kate:

Oh yeah. I think we're also a Charmin family. I know the only one that I care about is the paper towels. Are they called Vita?

AJ:

Viva.

Kate:

Are they thicker? Viva, yeah.

AJ:

Oh, thousand thread count Egyptian cotton. Viva.

Kate:

Yes. Yes.

AJ:

Actually the best toilet paper ever is the Kirkland Signature Costco brand. Like their ultra super high end plush toilet paper, which is their version of the Charmin Ultra, whatever. Is by far the best toilet paper. There's actually a documentary about why it's the best toilet paper that Costco has in their lab that they engineered the perfect toilet paper.

Kate:

Incredible. You heard it here first folks.

AJ:

You heard it here first. Kirkland Signature toilet paper.

Kate:

[inaudible 00:17:17] Kirkland brand toilet paper. [inaudible 00:17:19].

AJ:

Liquidity Event sponsored now by ... that's my no brainer you guys. Okay. So, how do we deal with inflation? What do they say here? You could buy the card that you're currently leasing to lock in that price. What do you think about that?

Kate:

I don't know. I mean, I feel I'm always hesitant. So, I have a friend who is searching for a car now. She's very particular and she has this super old Mustang that she's very attached to, but it is a piece of junk. And it just keeps doing this thing where it won't start. So, she is on this mission to find a, she's not looking for new, she's looking for a used car. And the prices are insane. So, I don't know. I mean, if you didn't want to buy the car before, I would say, let's not radically change directions and buy the car now. Why lock your cash up in something that's not going to appreciate in value, like a car rather than putting it into stocks, which is your best hit against inflation.

AJ:

Yeah. I mean this article is ... The Wall Street Journal is so boomery. The piece about the car is like, well, maybe it's not your first choice. Maybe you don't even the car, but it's a really good idea. It's like, what is this saving you? Maybe $800 over the course of three years. Come on guys, let's focus on the big picture. What's the thing about strawberries? You're getting fewer strawberries in your strawberry packages. That's that [inaudible 00:18:50]?

Kate:

Yes. You get fewer strawberries. Yeah. Easier to count than toilet paper sheets.

AJ:

True. But strawberries are not a uniform measurement. You could have tiny little strawberries, big old strawberries. Have you ever had those $40 strawberries from Japan?

Kate:

No.

AJ:

Sometimes these specialty markets will have this, like they come in this beautiful gift box and it's $40 for 10 strawberries. And they're very special.

Kate:

I will have to look for them.

AJ:

I've never purchased them, but I've always ogled them.

Kate:

Yeah, no. My strawberries just look crap. They look really bad at the store. So, I made the choice to buy ... It's so funny that this article called out strawberries because I couldn't find strawberries this week. So, I bought pineberries. Have you heard of pineberries?

AJ:

No. I feel I'm having deja vu right now and we had this conversation six months ago. But please enlighten me again.

Kate:

No, they're a cross between a strawberry and a pineapple.

AJ:

Oh.

Kate:

They're horrible. They're horrible. I was like, this sounds a great idea, but it just looks an albino strawberry. No, don't do it.

AJ:

What? Are they're too sweet?

Kate:

No, they just don't have any flavor. Like if you promise me a strawberry cross with a pineapple, I'm thinking juicy, I'm thinking flavor, I'm thinking acidity. And there was like none of that. It tasted like toilet paper.

AJ:

That sucks. The toilet paper wrapped up those extra strawberries in the toilet paper [inaudible 00:20:12]. Oh my God. Yeah. I mean look, inflation is, it's on a client's mind. They email us often or it comes up. Not necessarily an email, but it will come up, hey, what else can I do to hedge against inflation? Things are more expensive. I'm noticing it in my credit card bills. At the end of the day, stocks are our best hedge against inflation. Because we believe in US company or global companies, but particularly US companies to create wealth in astronomical ways over the long term. So, most of our clients are just sticking with their strategy to wait this out, wait out this period. This cycle, I should say.

Kate:

Exactly. Maintain a long term focus.

AJ:

Speaking of cycles. Adyn, a health focused startup launches its first test to prevent birth control side effects. So, let's break that down. So, cycles, for those not in the know, refers to your menstrual cycle. I feel like it's funny-

Kate:

[inaudible 00:21:16] this article today.

AJ:

I know it's funny. I mean, it happened to be in the news after we recorded last week and now we have our first cohost that is also female. But yeah, this is an incredible company. Female founded. I think I'm saying it right. Adyn, A-D-Y-N. And they've basically come up with a genetic test to determine, there's what? 200 different types of birth control out there on the market. And most of them, the ones that I have been on have caused gross side effects. And apparently this test can actually understand you, understand your chemistry and your genetics as a woman and tell you which of these brands, because they all have different hormones and different doses and different delivery apparatus for us. We get [inaudible 00:22:06]. Boys come see me after class if you have some questions.

Kate:

That was cool though.

AJ:

So cool.

Kate:

One of the founders I think had also had some bad experiences with birth control. She had some health trouble, which I think a lot of women can relate to. I certainly can relate to. But she was actually on the pill, had all these symptoms. Went to her doctors and the doctors told her that it was impossible, which is great to hear. I wish we could do that. I wish we could just be like, oh no, that's impossible. You want to buy a house?

AJ:

Nah.

Kate:

For 10 million, it's impossible.

AJ:

It's not possible. No.

Kate:

Yeah, no. But yeah. So, because she is a super smarty pants with a PhD in genetics and genomics, she basically developed this test, which fun fact qualifies for health savings accounts and flexible spending accounts.

AJ:

Oh my God. So, save tax, tax free dollars from your paycheck and use this to get the right birth control for you. And there are lots of reasons that people go on birth control. I think that's an often misunderstood thing. You don't necessarily go on birth control because you don't want to get pregnant. Birth control also provides lots of life saving or symptom minimizing drugs for women who have all these other health problems. When I was 16, I had crazy gross acne over my face. And I was prescribed Accutane, which is an acne medication. But it causes birth defects. So, they force you to also go on birth control at that time. And the science then, there was no genetic test to tell me, the doctor just said, here's the birth control from the pharmaceutical rep that came into my office last week.

AJ:

And I had terrible side effects from that birth control, which is really great when you're a 16 year old girl and you have acne and side effects of birth control. I'm fine now, but this is just, I mean, this is so cool to see. Science working to solve women's health issues, but also from an investment perspective, from an equity perspective, this is really cool. There's a proprietary science backed test that's going in. I don't know exactly what's in the test, but hopefully we'll see a lot of investments flowing into companies this. This seems a like a, I hope this is our next success story. Women in the science and blood testing fields could use a little positive PR based on our Elizabeth Holmes debacle over the past couple years. So, I am rooting for Adyn over here. I'm so glad you were here to talk about that.

Kate:

Yeah. It worked out.

AJ:

That was a very short conversation with [inaudible 00:24:44].

Kate:

Yes. Lots of [inaudible 00:24:48]

AJ:

I always bleed [inaudible 00:24:49].

Kate:

Very cool.

AJ:

So, let's continue this positive equity train we're on. So, we were talking earlier about this co this private equity firm, KKR made this investment, and then they were promoting these highly equitable plans while it turns out one of the partners at KKR just launched brand new, brand new, a non-profit organization that is basically started to help companies build more equitable equity plan. It's always funny to say equitable equity. But that's what it is. Because equity meaning ownership, equitable meaning equal. So, the organization is called Ownership Works. It just launched in April. And the best practices are to drive research and the aim of transforming how ownership is distributed within corporations to help working families build wealth. So, finally, we have a billionaire going, huh? Let's start figuring out ways holistically at a high global level that can still make people money, a way to transfer wealth from the ultra rich to the not so rich. So, very cool. We'll be watching out for this organization. Seems a great volunteer opportunity for us folks who are pretty well versed in these employee stock ownership plans.

Kate:

Yeah. Totally. Brooklyn FI can help. I mean-

AJ:

Yes.

Kate:

[inaudible 00:26:17] all. No, I think it's really cool. I think it's always good when a billionaire looks around and says, maybe we should give people some money.

AJ:

Yes. Oh my God. Speaking of billionaires, guess how many billionaires were created during the pandemic?

Kate:

Oh, probably a number that's way higher than I want.

AJ:

It was one a day. So, basically this Oxfam study came out that there was a new billionaire created every 30 hours and every 30 hours ... Wait, wait, wait, what was the flip side? The flip side was every 33 hours a million people fall into extreme poverty. So, roughly every day we have one billionaire and then a million people not being able to feed and cloth themselves. There's some pretty crazy quotes from this article.

Kate:

Yeah. I don't want to say my favorite because it's my favorite in a haunting way. In the way that 1984 was my favorite novel as a teenager. It was hundreds of millions could be "priced out of staying alive" while billionaires who control assets will profit even more.

AJ:

Right. So, when we talk about a recession and we have clients who are worried about their net worth. Yeah, very real fears. Everyone's financial situation is very much real to them. But I mean, this is the difference between I could feed my family to my children may die because we haven't eaten in a few days. So, pretty extreme. Yeah. I mean this it's an Oxfam study. It's fascinating. I'm going to read the whole study.

AJ:

I'm reading a novel called Ministry for The Future, which is science fiction. Or what do they call it? Real science fiction or hard science fiction. Yeah, because it's climate change science fiction. So, it's not aliens in space. It's sort of post apocalyptic, but there's no apocalypse it's before the apocalypse, because humans have destroyed the planet kind of fiction. It kind of takes this to that extreme, what happens 20 years into the future if we haven't made changes. What are the drastic extremes people are going to start taking to redistribute wealth. So, that's a hard recommend from me.

Kate:

I feel if I want to read that, because it sounds very cool, but I feel it's going to drastically increase proportionally my intake of end Virgin.

AJ:

Yeah. It's super depressing. First time guess. I would love to have a no-brainer from you. Give our listeners your best no-brainer.

Kate:

Okay. It actually dovetails quite nicely. You're going to be very pleased. Speaking of climate change and the reality of that, my no-brainer is to eat more lentils. Lentils are fabulous little plants that actually, so there's a lot of talk about carbon neutral farming. You might have heard that term. Lentils are actually better than neutral. So, instead of there are plants that emit carbon into the air, there are plants that are basically neutral. And then there are fabulous plants lentils that actually pull the carbon from the air and deposit it into the soil. And if you want to read more about that, you should check out the book, The Soil Will Save Us.

AJ:

Huh. A net positive plant. I love that. I love lentils. I love lentil soup. I make mine with a little turmeric and chili powder. So, it's a little bit of slightly Indian flavors. Anyways, on that note, eat more lentils folks. This has been Liquidity Event. Kate, you have been a fabulous co-host with me. You can email us at the liquidityevent@Brooklynfi.com. Leave us a voicemail. We'll play it on the air which no one has ever done, but we still continue to offer that option. Show notes could be found at brooklynfi.com/episode45. Thanks so much for listening and we will see you soon. Bye.

Kate:

See you later.

Speaker 1:

Thanks for listening to the liquidity event posted 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 path to financial independence. We'll see you next time on the Liquidity Event.