Rants and Rambles

The following transcription was from the Bulletproof Youtube channel. Here is the https://www.youtube.com/watch?v=TRtEy0O1F8M

Peter Boulden
0:00:00
Hey everybody, welcome back to another episode of the Proof of Dental Practice podcast. It's just Craig and me today. And we should have hit record a while ago because we were talking about how to customize 250 super duty, you know, whether or not you should just get the wheels or the suspension or go full Roush, you know, we didn't really know what to go with that, it would have been nice

Craig Spodak
0:00:33
to crowdsource that.

Peter Boulden
0:00:34
These are conversations we have, I don't know if that would have been worthy of hitting a record though, but I think go full, go, you won't regret it.

Craig Spodak
0:00:44
Yeah, I'm gonna go full with it.

Peter Boulden
0:00:45
COVID has ruined a lot of things and if anyone's trying to buy a new car right now, you know what I mean. You just cannot get them, which has caused the escalation in use prices. You know, I actually sold my truck back in the summer because I got such a crazy offer on it. I'm like, how is this possible? I've driven it for three years and the same money. And lo and behold, I haven't been able to get anything in replacements, I've been driving my wife's car. I think the most important thing is don't sell your current whatever it is until you secure the new one. Because a lot of folks are gonna go, look how much my house is worth now. And then it's like, it's all relative. The next home is gone up too. So it's just funny money that's gone up. It's not real money.

Craig Spodak
0:01:31
Yeah, boats, RVs, like that little trailer I bought during COVID, remember how I deliberated on that? It traded in for more than I paid for it. RVs are like cardboard boxes. The minute you buy one, they depreciate to hell. That one actually went up in more. Boats, planes.

Peter Boulden
0:01:48
You've kind of got the Midas touch, I've been noticing, as I've known you. You seem to stumble on like, oh, look how lucky I got, like between even your home, like your business loan thing that happened.

Craig Spodak
0:01:58
Oh, that was great.

Peter Boulden
0:01:59
Like you just-

Peter Boulden
0:02:00
No, but that was Intel, though. Maybe it's good karma.

Craig Spodak
0:02:02
Maybe you're just living right, Craig. No, no, no. No, no. It's not that for sure. Back in September, there was a conversation that you and I were having. It was talked about on the podcast that interest rates are going to explode. We're going to have inflation and subsequent higher interest rates. We talked about it on the podcast a ton. What I did was I said to my bank, I want to refinance my office building. And I got a 3% rate, which is really low, but my breakage fee on the loan was gonna be really expensive because I had to swap. Do you ever do swaps, Peter? Never. Swap rates? Yeah, I don't know if they're good or bad, but at the time it was the way to do it. It was post-COVID, I refinanced September 2020. The best rate I could get was a swap. So with a swap, if the prevailing rates are lower, then you have to buy your rate back out. I had to buy my loan out. At the time, my buyout was $77,000. It was a $77,000 penalty. So what I did was I said to my bank,

Craig Spodak
0:03:02
I said, can I go?

Peter Boulden
0:03:03
Wait, like a prepayment penalty?

Craig Spodak
0:03:04
Yes, sir. Okay. Not inclusive of the closing costs. Inclusive. So closing costs on that size loan were tens of thousands of dollars.

Peter Boulden
0:03:11
Was this an SBA?

Craig Spodak
0:03:12
No, I got it on the SBA. So the SBA utilized because it was 90% LTVA only to put 10% down as the best thing I could do. And then in September, I saw the Treasury was like at 1.24. And again, I'm going to talk about this stuff like I know what I'm talking about, but I'm just going to give you the general idea. I knew based on the things that you and I were talking about on a frequent cadence that inflation is going to start going up. Remember this is the time when CNN is like, nah, this is just transitory now. Oh, come on, now it's fine. I'm looking at like chicken. I'm like, okay.

Peter Boulden
0:03:45
It's transitory, just like flatten the curve for two weeks?

Craig Spodak
0:03:47
Yeah, yeah, this is a two-week inflation. This is to slow the spread. No one buy anything for two weeks. So long story short, I just knew inflation's gonna go up, interest rates are gonna rise. So I asked the bank, can you hold my loan all the way through to January 15th? They hemmed and hawed and said they would. I talked to my existing bank and my existing banker said, what are you doing? You have a $77,000 prepayment penalty. You're only gonna be saving X dollars a month. Pardon me, it's gonna take you years to break even. I was like, you know, Patrick, I got a plan. I think I got a plan. Patrick, if you're listening, sorry, but I had a plan. And lo and behold, the plan worked. So in January 18th, the treasury was at 1.84, which took my prepayment penalty of $77,000 and turned it into a purchase of, I'm sorry, a payment to get out of my loan. So I got paid to get out of my loan. So it flipped completely. So I still think we're in, and again, we're not giving financial advice, but we're talking amongst two friends, I still feel like we're in a sweet spot. Time will prove me wrong or right, but I believe, and I'm curious to hear what you think, if we're still in that sweet spot where we think asset prices haven't really gone up, inflation hasn't really, really hit everything as fully as it's going to, and interest rates are still lower than they're gonna be in the next 10 years. Do you agree with that statement or not? Do you think things are gonna cool off and come back down?

Peter Boulden
0:05:22
No, no, no, no, no, they never will come back down.

Craig Spodak
0:05:26
Well, of course, listen, I mean, Starbucks today is gonna be the cheapest Starbucks you're ever gonna own for the rest of your life. Your latte will never go back to 220. But do you think over the next 10 years that we're gonna see rising asset prices like housing, apartment buildings,

Peter Boulden
0:05:41
commercial properties. I think there'll be fluctuations, but I think it's up only at this point just because the only way they can solve monetary policies is by printing more, right? And especially if you look at the global crisis that's going on right now in Ukraine, it's putting more emphasis on the dollar even because look at the ruble, what happened to that?

Craig Spodak
0:06:01
Holy shit, the ruble collapsed like 40%.

Peter Boulden
0:06:03
Is it ruble or ruple?

Craig Spodak
0:06:06
With a B.

Craig Spodak
0:06:07
Oh, ruble. You just combined the Indian rupee and the ruble. So for those that are Indian and Russian, he's sorry.

Peter Boulden
0:06:15
No I didn't do it.

Craig Spodak
0:06:16
No, I'm kidding. I'm just saying. Well, no, go back to the issue at hand though, Pete. So asset prices are never coming down, minor fluctuations over a decade. What about interest rates? What's your belief?

Peter Boulden
0:06:26
Because I haven't heard it. I mean, they're going to have to raise at some point, right? But it's going to be, no administration's going to be the one. Well, they're doing it very, very, and they're talking about doing it over the course of the next six quarters, but no administration wants to be the one responsible for killing the economy, which essentially that's what it's going to do, right? But sometimes you have to do, you take strict measures or else we're gonna get into a state of hyperinflation where everything melts up. Everything melts up. And we've seen that. It's a melt up, it's not a melt down. Well, the higher now than they've ever been,

Craig Spodak
0:07:01
the 10-year treasury is at 1.97. So.

Peter Boulden
0:07:06
I'm trying to look at this interesting thing that the best way to measure inflation too is you know, people talk, you wait for the government, you can look at Hayward Index, all these things, but like one of the things that I look at is something called the Big Mac. That's what I meant, Chapworth. But no, I look at that, but I think it's interesting to look at the Big Mac Index. Okay, where do I find this? This is, just Google Big Mac Index. Okay. Just a measure of, you know.

Craig Spodak
0:07:32
Of burger-nomics.

Peter Boulden
0:07:33
Of burger-nomics. Well, I guess that's, so they're talking about the price and you can see it's trending over time. It doesn't go down, Greg.

Craig Spodak
0:07:41
No. Well, what does go down?

Peter Boulden
0:07:43
Right. And I think that was your point.

Craig Spodak
0:07:44
Well, VCRs, I guess.

Peter Boulden
0:07:45
Does it come back down?

Craig Spodak
0:07:46
Absolutely.

Peter Boulden
0:07:47
Well, VCRs. So right now, the price of a Big Mac is 581. And in May of 2004, it was $2.90. So it's been 100 percent change in 15 years. In the US. So it's a good little index, and people are probably wondering, what the hell are you guys podcasting on today? We don't actually know right now. Well, I'm gonna bring it back to dental for a second. You are?

Craig Spodak
0:08:14
Does everything have to be dental?

Peter Boulden
0:08:16
No, it doesn't, but I wanna make it relevant.

Craig Spodak
0:08:17
Oh, that's right, this is a dental podcast, though. No, I know, but we could change it. It could just be the Bulletproof Practice Podcast, and everything's practice. I just wanna ask you something. So Big Macs will never get cheaper. You know, I was reading something about the cost of an admission ticket to Disney World. You went recently. How much is a one day pass?

Peter Boulden
0:08:38
I haven't been yet. I haven't been recently. We are going soon.

Craig Spodak
0:08:42
So what is a Disney one day pass?

Peter Boulden
0:08:45
I don't know, bud.

Peter Boulden
0:08:46
You live in Florida, you should know this.

Craig Spodak
0:08:49
Yeah.

Craig Spodak
0:08:50
Okay, so it's, I can't believe what it is, but it's, yeah, it's now a single day ticket is, well, with a park hopper, so going to more than one park, is $1.69 per ticket.

Peter Boulden
0:09:09
One day per person?

Craig Spodak
0:09:10
Per day, per person, with park hopper, meaning like you want to go to a different park. $169. Wow. It is just amazing to me. Have you, like, even hotels now, like the hotels that I used to stay at for like, you know, X dollars are now 2 and 3X.

Peter Boulden
0:09:29
You know what's funny about Disney World, you bring this up, every time I go to Disney World, I walk around, and I'm always anxious, and I'm anxious because it seems like every time I turn my head I'm giving a $20 bill to someone somehow somewhere. Oh, of course and look and I'm walking around. I'm like I think you I do pretty good. I make a good living. I've done, you know, my ass off and I'm looking around I'm like Is everyone affording this because it's all I do is spit out $20 bills or you know We're right in the world and it's like how the hell just you get back You get access codes that I didn't know about?

Craig Spodak
0:10:00
Right, right. Is there like a hack?

Craig Spodak
0:10:02
Like a, yeah, exactly.

Peter Boulden
0:10:04
Did everyone get a Groupon here and tell me?

Craig Spodak
0:10:06
If you cut off like nine Coke bottle labels and like bring it to the front, does that like give you like a half off or something? You know, like when you're a kid or something?

Peter Boulden
0:10:12
Remember that, remember that, six flags?

Craig Spodak
0:10:14
Exactly. So what I'm saying is that like, and also just to kind of put a book end on the Disney thing, you get, you do four or five days in Disney, like damn, I should just go to Europe. They're taking the kids to like Paris, you know, because it's so expensive. And I just think we're in this age, we're in this time right now with hyperinflation and I know educational costs are going up. I know there's wage contraction. I know that dentists are flattening out their wages. I'm always thinking and I'm really happy that this random conversation turns to this. At what point, Peter, does it just not make economic sense to become a dentist, in your opinion.

Peter Boulden
0:10:55
Never. It always makes sense. It will always make sense. It will always make sense.

Craig Spodak
0:11:00
It always makes sense.

Peter Boulden
0:11:01
Because it's a service, and it's a service that can't be demonetized, democratized. It can be centralized, but it can't be roboticized until the technology is not there. I know they've got those in place. So my point is, it's a destination, it takes skill, it takes a degree, and it's always gonna be needed.

Craig Spodak
0:11:24
Okay, but if you look at dental school student debt, right, and as it is rising over time, and we know that the educational, I'm sorry, the earning capacity, so I'm gonna share screen for a second Just to show this to you so you can see at the same time I am and so if we look at this the the information on dental student debt, and we see it. Just this is 2002

Craig Spodak
0:11:52
2016

Craig Spodak
0:11:53
Look at that chart.

Peter Boulden
0:12:05
Yeah, that's gone up over, that's gone up more than the Big Mac. Actually, it's about the same, Craig. Look, from 2004 to 2016, in that same, yeah, so it's gone over 100% almost in, um, on UNI

Craig Spodak
0:12:17
graduates. Right. And we know, I think it's safe to say now, I mean, I'm not trying to get political, but I don't think Joe and Kamala are forgiving your student loans. I think, is that safe to say right now?

Peter Boulden
0:12:26
Well, we talked about that on Bulletproof Network, right? Where it was like, if people get their loans forgiven, I promise you it's not gonna be quote unquote, rich doctors.

Craig Spodak
0:12:36
We have, and it's not also really free. Like the money that everybody was handed out during the pandemic, all those checks, your gas is so much more, your pork and your chicken and your groceries and your everything is so much more that you're all, we're all actually paying for it. There's no free lunch.

Peter Boulden
0:12:53
But some people were banking on it. It was funny, I was having conversations to be like, well, it might get forgiven. I was like, look, it might, but there's gonna be a hierarchy of forgiveness.

Craig Spodak
0:13:03
Like, it's gonna be people. Yeah, like your standardized deductions. Like for rich people, you don't get as much.

Peter Boulden
0:13:06
Right, like they're gonna look at you and say, doctors, and they're thinking physicians, but physicians and dentists, you have a higher lifetime earning average. We are not forgiving your loans. And there were some dental students who were thinking that this might happen. I was like, please do not bank on this.

Craig Spodak
0:13:20
Well, they're gonna forgive the other type of doctors, the doctors who are doctors in English literature.

Peter Boulden
0:13:25
Right, your PhD.

Craig Spodak
0:13:26
Yeah, you spent 180 grand on your education and you're like, you can work at Starbucks now because you don't have a specific degree. You know, I wanna just add one more little thing to the hopper that we're talking about. You know, so I have dental financial freedom as my financial advisor. And that's the division of creative planning, which you know. And periodically, yearly in fact, they say, hey, has anything changed? What are you doing? Are you still on track to send the kids to college? Because they're allocating certain amounts of the, they have an algorithm. Because if you buy the prepaid or the different types of plans that you can allocate money towards college, if you don't go to college, some of that is lost, meaning you can't just pull that money out. So they're doing an actuarial calculation.

Peter Boulden
0:14:08
In a 529 situation.

Craig Spodak
0:14:09
529, correct. So if you don't want to put it all in that plan, because if the kids don't go to college or you have a different plan, it's hard to get that money back out. You'll pay taxes on it. So every year they ask me, what are the chances? It always has been 100%. Always. About two years ago, they just want to make sure Gavin and Sage still 100% chance to go to college, right? I'm like, put it to 70.

Craig Spodak
0:14:29
Like, well, why?

Craig Spodak
0:14:30
I was like, you know, I don't know. I just, I'm just seeing a, maybe I'm living too far in the future. Maybe I'm like 40 years out versus 10 years out. But I'm just seeing like, there's so much information. I'm seeing the decentralization of education and the rising student debt and flattening out of the earning potential.

Peter Boulden
0:14:50
And the demonetization of it, right? When learning is free and available for everyone at scale through things like Khan Academy. What are you paying for? Are you paying for a $200,000 party for four years? And that's fine, I get it, there's some value to college. I actually said this, Craig, on a Facebook post a long time ago, because I know you lurk and you comment and you do things on social media. I remember actually saying that my prediction was that by the time my kids are in college, it will not exist the way it exists now because people are gonna wake up. And essentially I was told by a number of people, shut up, you're an idiot kind of thing, right? And I was like, all right, social media is like, you can't have an opinion. It's different. And if you fight with a pig, like you end up getting dirty and the pig gets happy So I just I just said I'm not having arguments on Facebook ever I still type them out by the way. I know you don't post I delete them and I put them on Yeah, that sounds like a really inefficient use of time by the way Well, I just have to I just I'd have to get it out your therapy. Yeah

Peter Boulden
0:15:54
hmm

Peter Boulden
0:15:55
So I'm anyway, I totally agree with you Greg It's so to them so much so that back to the 529, I actually took mine and used it for my kid. They'd been accruing and I said, you know what, I don't know if I want this sitting here from a thing, so I actually used it for their school already. And I got rid of it, I'm not doing it 529.

Craig Spodak
0:16:15
Interesting, yeah, I might do the same. But I mean, imagine like, look, there was predatory practices in home loans and they created, because of the predatory practices and people not understanding their mortgages, they created the truth in lending statement. So imagine if when you're signing these documents, which are non-recourse, you're going to pay this institution shit tons of money. Imagine if whilst going through your graduate program, you're just gonna sign up for the whole program, the four-year undergrad and the three-year English literature PhD. They see your total cost of education over 30 years or whatever, 40 years is gonna be X. And the average person, you can almost see like when you buy a car, it says the average cost of gas for this car is between this and this. Because they wanna know, hey, you want the F-250? Cool, you're gonna spend $1,000 a year more in gas than if you buy the Toyota Camry.

Peter Boulden
0:17:06
Ford Fiesta.

Craig Spodak
0:17:07
Exactly, so imagine if education had that. Like, okay, Peter, you're gonna do the English Lit Combo Program, Super Size Combo Program, you're gonna be $290,000 in debt. The true cost after 7% interest rates, because those interest rates and student loans are freaking ridiculous. It's gonna wind up being 800 grand or 900 grand, and our studies show that the average earning for those people in English Lit is between 52 and $72,000.

Peter Boulden
0:17:35
And by that it will take you 84 years.

Craig Spodak
0:17:38
84 years to pay that off. Still want to go forward?

Peter Boulden
0:17:41
Yeah, you mean, so there's almost a truth in lending,

Peter Boulden
0:17:44
there should be a truth in education. Exactly, exactly. I agree, I agree. The unfortunate thing is obviously there's, if you start doing that, meaning I had professors in school that basically said, hey, Bolton, you're not smart enough, you're not at the top of the class, you're not going to be an orthodontist, you're going to make this, you're going to be a general dentist the rest of your life, and this is what you're gonna make. And that was 130,000 I think at the time they told me.

Craig Spodak
0:18:09
I was like, okay, great,

Peter Boulden
0:18:09
because I made zero, I told you this.

Peter Boulden
0:18:12
And so I think sometimes that's almost like a dream crusher, because A, I accepted that as like, okay, because what do I know, and you're the professor, you know it all. But B, I think it's also like, for instance, where I'm going with that, Craig, is if you told someone truth in education, they would, from a fact standpoint, they would say, oh, that doesn't look very good. My answer is no, I don't want to do this now. But we'd also be, there'd also be people that get out and they're gonna have, they would miss out on the moon shots or the big things that could have happened because of that. So I don't know where I'm going with that. I just think it's truth in lending, truth education might be appropriate. So at least you know what you're dealing with as opposed to like getting out and thinking that you're gonna be able to pay these back in a timely manner, which you may not be. You can only defer for so long, right? You can only, and guess what? And you can never claim bankruptcy on these. There's so many other factors that go into this though.

Craig Spodak
0:19:10
You know, there are statistics that show that if you are a college degree holder that you make more money, but it's like, aren't, isn't it true that people who finish college have more perseverance, have more discipline? So it's not, it's like saying that people who don't-

Peter Boulden
0:19:28
I think, I think it's also Greg, from me personally and I advise others, I think it's the most debilitating form of a loan too, meaning it's just something that hangs over your head for so long. Meaning a house feels better to me than having a balance on a house because it's like, okay, here it is. It's a house, it has value, and so I have a loan on it.

Peter Boulden
0:19:51
It feels fine.

Craig Spodak
0:19:52
Well, yeah, the loan is compounding, but so is the asset value.

Peter Boulden
0:19:55
Right, but there's nothing more to me in terms of, there was so much.

Craig Spodak
0:19:59
It's like a credit card debt.

Peter Boulden
0:20:00
It's fixed and it's getting larger. Yeah, it's almost like, God dang it just feels so taxing from a dream standpoint. It's like, oh, I can't get out from under this. And so I've always advised people, and they're like, well, I could pay off my student loans, or, and I stop, I'm like, just pay them off, get out with it, get out from under that, and move on. Right, because otherwise it's like, hey, banks look at this weird when you try to go for more underwriting. I didn't want this to turn into a student loan conversation. It won't, it won't, it won't.

Craig Spodak
0:20:27
It's really about a knowing yourself conversation. And one of the things that happened this weekend, I was out at my buddy's, my buddy owns this ranch. It's really fun, I went there for New Year's and there's like all different things to do. And one of the signs of- Can I say something before you start pivoting actually?

Peter Boulden
0:20:42
I know I just said, Greg, I'm sorry. Yeah, but that means a hard pivot for me.

Craig Spodak
0:20:45
I wanted to turn real quick on that. No, it's good.

Peter Boulden
0:20:47
But there, one thing we did talk about is, is because we've actually coming full circle. We talked about asset prices going through, which means if you have a home or have some asset, it's probably escalated in the time of COVID. So there's the silver lining, which means if you have an asset that's worth money, you can take and borrow against that typically and get out from those student loans. Like I'm saying, because that the amount that you borrowed has stayed constant. But your assets, if it's a home or something that you can take, usually you can get into that in a tax deductible standpoint. I know we did a big podcast on that, but that is a great strategy for just re-qualifying, re-classifying your debt and getting out from student loans. Now go on your hard pivot, please.

Craig Spodak
0:21:34
Away from that yeah, well, I just it's gonna be away from it, but I I Love dentistry, and I know that they can't roboticize it And I know all the things you said to be true when I agree with you and everything you said But I but I did I take a counterpoint Peter to the idea that it will never happen if I'm seeing what I'm seeing as a rising cost of becoming a dentist and interest rates are gonna be rising, there is going to be a point where it's like, okay, I know you love it. I know you love it. It's just not financially sound to do this. I really do believe we're coming to that. And actually, that's what we think. Comment below, because I actually read all the comments, especially on YouTube. I love them. Comment below, give us your counterpoint. We'll answer them or go to the Mindy network. I wanna hear if people agree if there's going to be a point in the future or maybe it's now. Because you and I are a little out of touch with that. There may be a recent grad who has a friend that's 800, 1.1 million. And maybe their rate is 7%. I mean, at that point, Peter, does it start to weigh on you?

Peter Boulden
0:22:47
Well, guess what's not been adjusted for COVID inflation, by the way, insurance reimbursements.

Craig Spodak
0:22:52
Well, now it's going down.

Peter Boulden
0:22:54
Right.

Craig Spodak
0:22:55
So salaries are going up, cost of doing business, profit margins are contracting for guys like us who are service providers. For those selling cars, they're all sold out, they can't get them. My friend's a Peterbilt dealer, he sells trucks, he usually sells 5,000. He can only sell 3,000 this year because he can't get the trucks.

Peter Boulden
0:23:13
So of the one remaining practice that I had, Craig, that was a PPO practice, guess what I had to do? Turn to fee for service. I turned to fee for service. I sent out letters a month ago that basically said, and it really wasn't, so a lot of, there's been some fallout, not a lot, but it was basically like, look, we cannot, and this wasn't BS, it was like, we cannot afford to keep going along because insurance has not raised, you know, there's been all these raising, I'm sorry, there's been all these rising costs in supplies, the backlogs of getting materials. We're overwhelmed in this practice in terms of capacity. We had to pay people more, and insurance reimbursements have either gone down or stayed the same. And so we just can't afford to keep off, labs have gone up, like everything has gone up, right? And so we had to make the decision, and luckily, by the grace of God, everything was so busy, meaning we were putting out new patients until November. This was back in January. So we had a different problem to solve, but I had made the Ducronian move to just say, you know what, you told me, and it was good advice, you and Erica told me, like, look, because you've done this. You've done, you've titrated off. And they said, look, take your worst plan and start titrating down, get rid of them step by step. I felt, and time is gonna prove if I made the right decision or not.

Craig Spodak
0:24:37
Well, listen, insurance is a faucet. Let's say I made the wrong decision.

Peter Boulden
0:24:39
But I turned the entire faucet off. And I've done that. And I sent out letters. I've done that. I sent a dear John to everybody and sent them all off. And guess what? We've started to get bad reviews. But it's from people saying, well look, this is just a money grab, right? And so it's unfortunate. But guess what, we were getting bad reviews because we were booking people out 11 months anyway.

Craig Spodak
0:25:03
So it's like, I'm damned if I do and damned if I don't. And honestly, Peter, let's just say it all, God forbid, it all flops on its face. You turn on the damn thing, everybody loves it. Insurance is a titratable, it's a faucet. When you're first starting out, you're waiting for a butt in the chair, there's no badge that's saying, I'm free for service, and you're waiting all day. Turn the goddamn faucets on, all of them. And then when you're booked up two, three, four weeks, or a month or so, turn off the worst one. And then when you're booked up two, three months, or two, three weeks again, do the second one, the third one. But yeah, I think you're a little bit more of a, you like to roll the dice, you like the adventure, so it'll work for you. I've done the same thing. You know, now we do it a different way. But I just look at this and I'm looking now, I'll share the screen just for a second, it's from ASDA. And I just think that this is, it's not-

Peter Boulden
0:25:50
Barrett Dent Associates, what's ASDA?

Craig Spodak
0:25:51
It's Student Associates, right?

Craig Spodak
0:25:52
Yeah, it's the Student Dental Association. The average, oh shit. But I'm just saying it's going to hit that point, Peter. It does.

Peter Boulden
0:26:01
No, go back to that, go back to that. I know you got rid of it real quick because I Said I didn't want to focus on debt

Craig Spodak
0:26:07
Yeah, yeah, so let me go let me tell you 20 stat you can imagine what it is

Peter Boulden
0:26:11
Yeah Well no soon

Craig Spodak
0:26:15
So so so here's where I'm going with it, so I had a very, very pivotal conversation for me this weekend. I'm riding around with my buddy Lee. Lee runs this ranch and it's called Lighty Family Ranch in Florida. It's really cool. And his son Mason is 14 years old or 15 years old and I'm watching his kids working in the business. They're being homeschooled now because they're too damn important to the business. They're running around. They're moving stuff. It's 2,000 acres. It's a ranch, like hunting lodge, they have bird hunting, they have eco tours, they do weddings, but it's a big amount of property. Tractors, mowing, moving hay, they have deer, it's just tons and tons of work. So long story short, I'm in this side by side with Mason, I'm like, hey Mason, what are you gonna do? You gonna go to college? He's like, nah, I got everything I need right here. I've got a 14 year old boy driving me in a motor vehicle with my son. He's like look around I got everything I need right here. I got everything I ever wanted. He's not wrong. He's not and he's not wrong. That's the point I'm trying to make. He's not wrong. So here you and I, super successful. I'm not I'm not flexing but I'm just saying like we're we're we're trying to get simple. We're trying to get simpler now. So we got everything we ever wanted, we do all this stuff and we realize just like your lake house with the raccoon in it right now, everything you own, everything you own Peter, owns a piece of you. So you love your lake house, you just drove your ass two hours, put a mechanical owl up, tried to get a goddamn varmint out of your attic. You work for your lake house Pete. Yeah, the stuff, you work for the stuff, right? Right. And so, and I had, I know my wife doesn't ever listen to my podcast. I don't have to worry about this, but I had a mouse in my trailer. It's a brand new trailer.

Craig Spodak
0:28:09
There's a mouse in it.

Craig Spodak
0:28:10
That's not fun either. So I just I think I'm trying to what I'm trying to say here. Well, I like your friend who just bought a hundred thirty foot yacht. Oh, my God. He's making his ass off right now. He had such drama.

Craig Spodak
0:28:22
I felt so bad.

Craig Spodak
0:28:23
I mean, I don't feel bad. He's a billionaire, but he's he's bought this boat and he's dealing with so much crap the captain resigned and it's and I mean I can't even be the lawyers and inspections and non-recourse and he has to put this money forward is going to work out there's a thing for

Peter Boulden
0:28:42
boats and planes and I can't remember

Craig Spodak
0:28:46
what I think yeah I think a lot of planes yet flies and floats that's it

Peter Boulden
0:28:50
there's one more no I can't remember

Craig Spodak
0:28:51
what it was either,

Peter Boulden
0:28:52
but flies or floats. Flies or floats, and anyway. Yeah, that was it. So if someone knows, put that in the comments.

Craig Spodak
0:29:00
I think it's just actually that, if it flies or floats. Okay, you should just write it. I'm pretty sure about that. So what I saw was I was like really, really happy for my friend Lee and his son and his daughter, but I was also really envious of the fact that we've left, we have our businesses, my son Gavin told me, dad, I wanna be a dentist, I wanna take over your business, I wanna be that, I wanna be in the business. He's nine, and I think that's cute, but if he really wanted to take over my business, would it be a good idea, Peter, for him to go be a, no, no, no, no, you didn't let me finish, you didn't let me finish. Would it be a good idea for him to be a dentist or what would be the best way he could take over the business? In my specific situation or your specific situation, if you know, Brack said, Daddy, I want to be a dentist. I want to, and you say, well, why? Well, I want to take over at Linden Dental Spa. I want to run it. What would you say? What would be the best use of his time? Dentist, MBA, internship?

Peter Boulden
0:30:06
It's 16 years from now, like who knows what's gonna happen.

Craig Spodak
0:30:09
Where do you stand right now, what would it be?

Peter Boulden
0:30:11
I don't know, I mean I would still recommend, if my son was like, I wanna be a dentist, I'd be like, yeah, it's everything you want it to be, right? It can be solid and stable, it's like Almighty Network, someone was talking about how they were this young dentist. It's like, I got into dentistry really because I really just wanted stability and I wanted some money. And now I'm learning that I don't really want to be a dentist anymore. But I would tell him that, look, dentistry is everything you want. You can flex your craftsman, you can flex your honor. You can flex being a craftsman and an artist and a scientist, but you can also flex being an entrepreneur, and you can flex being a leader, and you can flex all these things. Or you can also flex being an employee and being part-time. An employee or whatever it is. And that's so – It's anything you want to be. I don't think there's that many professions, Craig, that allow you. And also, and by the way, your income is – there's no ceiling like most. Right. There's no ceiling like most, right? You can probably get average or you can go as much as you want. Like obviously we know there's dentists out there like Rick Workman who are billionaires now because of dentistry, right? So there's anywhere you want to be. I'm not saying, I don't know, I'm just giving some context to the billionaire thing. No, I love that. I love the idea that you can be whatever you want.

Craig Spodak
0:31:32
So I would sell him that.

Peter Boulden
0:31:32
And I don't know. And there's not many professions left, Craig, that you can do that, where you have autonomy, where you're pretty much guaranteed a good income if you graduate the craft. Yeah, you can go any, you can live anywhere you want. There's a high demand. Like, if you wanna be a ski instructor, you can't live in Hawaii. I'd say go for it, I'd say go for it. I wouldn't recommend, honestly, and I'm not having doctor hate, but I wouldn't recommend he go be a physician, quite honestly. Right. Now, 20 years ago, I tried to get into medical school. Yeah you were too dumb right? Yes too dumb. I mean Craig you might not be wrong on that either. Thank God you were. No I actually did. I was so fatigued by the application processes. By the time I literally went to one dental thing and I was like, if you all take me, I will stop all other schools and stop trying to go to medical school. And they're like, yeah, we'll take you. And I was like, okay, done. I'm going back to school to party for once in my life. What'd you say about George?

Craig Spodak
0:32:37
No, I was just kidding. I'm like, thank God you were not a medical doctor.

Peter Boulden
0:32:40
By the way, we got a lot of, I got so much, I really loved our conversation with George. And even talking with him offline, he's just a cool guy. And their ecosystem is super cool, that they're six partners and they're just cool guys. I only know one of them.

Craig Spodak
0:32:57
You know what too, when I was a dentist for one year, like him, I was right about everything, Peter. I was the Bill Gates of dentistry.

Peter Boulden
0:33:05
Greg, you know we're recording this right now.

Craig Spodak
0:33:07
Oh no, I thought we stopped. He can't defend himself. Okay, no, I'm sorry. But I was a lot more confident in what I had to say 20 years ago than I am now, just in general. I didn't know. I was really confident about everything.

Peter Boulden
0:33:19
Yeah, you mean you didn't get, you got a lot of ass kickings between now and then? I got a ton of ass kickings. And I don't want that for anybody. I think he's writing a lot of things though. I think you are too, but I think he's writing a lot of things. Yeah, I agree. But my point bringing that up is I got a lot of feedback from that. I get people texting me like, oh, and everyone knows I use the word sweaty back, which is which is when you get a little if no one knows that word, it's it's this word in my family house, which Craig, not unlike your wife, mine does not listen to the podcast, but it is her word whenever there's an uncomfortable situation, we call it sweaty back in my house. So you're so you're so uncomfortable that the back, you know, the middle of your back and your spine exhausted, listen a little bit, a little sweat because you're just so uncomfortable with what's going down. And so I never mind. I had sweaty back in the conversation because I'm watching you and him kind of go at it. I was just trying to be polite as I could be. You were the elder statesman. You were the elder statesman. Really trying. Because in my mind, in my mind. But here's the deal, I know you, I know, but I know you, right? And he's very passionate about what he believes, and he's passionate about dentistry, and he's passionate about what he teaches, and he's passionate about who he leads, and I really dug that too. And so sometimes just being right or wrong, history will prove that, but if you don't have conviction what you believe, right, Craig, if I sit here and say, this pen is red, this pen is red, this pen is red. You know, and I'm fully committed to that process. Eventually you're gonna be like, well, is it? You know, like, right? But I'm saying you have to be so convicted in your beliefs.

Craig Spodak
0:34:58
You can't be, I think this, I think that. I'm not trying to relive the podcast. I think when you have a microphone and a bunch of people that listen to you, when the pen is red and people start believing the pen is red and the pen can lead you down the wrong path, that's where I think you have to, I try to say like, okay, what I. But who's to say it's wrong, you? Well, it's wrong when you recommend point blank, this is what you should do.

Craig Spodak
0:35:23
Because this is the most profitable.

Craig Spodak
0:35:24
We do that?

Craig Spodak
0:35:25
We do that?

Craig Spodak
0:35:26
Well, we do that for us, what we want. Right.

Peter Boulden
0:35:32
Because we're doing it.

Craig Spodak
0:35:32
The things you say that you're doing, you've actually done it. You're like, I just think about all my insurance costs. I don't know if it's a mistake or not.

Peter Boulden
0:35:38
You just said that. Well, and you and I together, we have 45 years of asking.

Craig Spodak
0:35:42
But you just said it, you said, I don't know if it's wrong or right. You're not saying, my specific algorithm, I figured out the algorithm, and what I did was I said goodbye to everybody. You said, and I just reassured you, hey Pete, you might have made a mistake, but you'll go back on. When you say you're certain, and you say I've done the research, it's just, we're reliving the same podcast. We're on the same page.

Peter Boulden
0:36:03
But I think- Well, the reason I bring that up, the podcast, is because A, it was really cool too. We've gotten some good feedback, gotten lots of comments from people. I think- Yeah, I do too. I don't think, and although it was quote unquote sweaty back in certain times, I think it's good for dentistry because like, they are good guys. We are good guys. And like, it's good to have conversations where it's not, you know, sometimes, Craig, your favorite point is we, your favorite term, I should say, is we live in our own echo chambers, right?

Craig Spodak
0:36:29
Of course.

Peter Boulden
0:36:30
And sometimes you and I live in our own echo chambers, so it's nice to just get this like totally different, passionate viewpoint from a younger dentist.

Peter Boulden
0:36:38
Sure.

Craig Spodak
0:36:39
And I'd love to have more on. I'd love to have more on.

Peter Boulden
0:36:41
Yeah, yeah, I dig, I liked it.

Peter Boulden
0:36:42
I liked it a lot, actually.

Craig Spodak
0:36:43
You know, I love those student podcasts, the ones that we have from students, we love those, I'd love those.

Peter Boulden
0:36:48
You know, you don't have to be an expert to be on here.

Craig Spodak
0:36:50
I think in fact, it's more rewarding and more refreshing to have a new perspective. A new perspective is valuable.

Peter Boulden
0:36:57
Well, it's just like when I go to our summits, Craig. This is always what I say to people. You may not take everything here and say, oh, I'm going to do that. But here's what a difference of opinion or new intel into your world makes you do. It makes you audit what you're doing. So you were probably listening to George and saying like, hmm, I disagree and here's why. And it fortified the position of what you were doing, but you weren't just like taking it for face value because you defend your position. So defending your position, hold on, let me finish this.

Craig Spodak
0:37:29
Let me finish.

Peter Boulden
0:37:29
Defending your position, whether it's marketing or leadership or the way you fired, is sometimes good when you hear other people's points of view, right? Because then you're not just playing passively, you're actually playing actively in a defense mechanism, so to speak. So it's very healthy as we look at summits and some people say, well, I don't need to learn that. I don't want to know that. And sometimes you may take nothing away, but you audited, you had to mentally audit your processes from leadership, the whole Bulletproof pathway, you had to audit that. And you may have not changed anything, but it's going to be valuable for you because you had to then say, is this something we stick with?

Craig Spodak
0:38:06
Yes or no? Yeah, you had to examine it.

Craig Spodak
0:38:08
You had to examine it.

Peter Boulden
0:38:09
That's exactly my point.

Craig Spodak
0:38:10
We pulled it to light. You had to look at it face to face and deal with it and then sort it away. I mean, that's the reason why I'm as happy and fulfilled as I am is because I've had to examine everything. I've had things I thought were going to crush me and they didn't. And I've lived through the, I've had the scars and I think that's a reason that you and I are fulfilled and that we have to examine things all the time. And I just have, I don't know what it is about me, Pete. Maybe it's my judgment. Maybe I'm just too judgy, but I just find… You're pretty judgy. I am judgy. And I just, it's difficult for me to, when I query someone and they don't have the level of experience and it's merely opinion. It just it just it does something to me. Maybe it's my own baggage. But here's the

Peter Boulden
0:38:57
deal. Having 30 years of doing something some way does not make you an expert. Right? So so so pause for a second. I know dentists who have prepped things and done some dentistry in my opinion the wrong way for 30 years. So doing it the wrong way doesn't make you a master dentist. It just means you were you were so convicted in the way you were doing it that you were unwilling to change.

Craig Spodak
0:39:18
Yeah a guides a guides responsibility is not to solve the problem for you. There you go. But to point out the potential obstacles on the trail and those that have taken the trail understand the dip and the tricky rock and the slippery log and that stuff. That's all I'm saying. Theory is, there's a lot of theory, and I get really fired up about this in dentistry. There's a lot of theory in dentistry, and those that have theory that is not tested are leading some of the charge. And I think theory's awesome. You and I have theories. I'm like, I should build this frickin' crazy box and do all this stuff, and I'm gonna go off insurance. Like, these are theories, what you just did. You're completing step two of a scientific experiment, and it may backfire on you, Peter, like it backfired on me and you may actually capitulate and be like, no, I'm gonna take three debt insurances back. But you're not sitting here saying, I know, I know, I know, I know, I have a specific scientific protocol. That's my only thing, it's just a subtlety, a nuance. There's a lot of great people doing really cool things. Look at Patrick Vong and our mastermind, kicking ass, doing all sorts of…

Peter Boulden
0:40:28
You always mention people's last names, by the way, on air, and that may not be cool

Craig Spodak
0:40:32
with them.

Craig Spodak
0:40:33
Okay, so we'll bleep that out.

Peter Boulden
0:40:35
No, no, it's too late now. He wouldn't mind, but you need to exercise your… I will text him and then turn to him.

Craig Spodak
0:40:44
Yeah, I will do my sea anemone as well.

Peter Boulden
0:40:47
I thought you were about to make fun of me for that word.

Craig Spodak
0:40:49
I know, because you combined it with sea anemone.

Peter Boulden
0:40:52
All right, so let's stop there. I want to ask what else is going on in your world, like just updates beyond dental. What's on your brain other than your car, which we talked about? What else are you?

Craig Spodak
0:41:04
I really like being outside, Peter, a lot.

Peter Boulden
0:41:06
You do, it's good.

Craig Spodak
0:41:07
I like being outside. I like being around nature.

Peter Boulden
0:41:12
It just leaves a really halo effect for me. Do you go barefooted on your farm ever No, you don't want to go barefoot anywhere in Florida really really yeah if you if you're barefoot like in the urban centers you get a needle and in the in the rural settings you'll get like a Rat snake or something like that one of my one of my hippie air friends was saying you need to go barefoot in the woods Because it's a grounding force. It's a connection right your feet stop the connection between the earth and the…

Craig Spodak
0:41:38
Everything just slows down. I just go so fast sometimes and I wanna go faster and faster and faster and then that's just, the phone doesn't work and everything slows down. It's really cool, I just really do love it.

Peter Boulden
0:41:49
No, I like watching you. I see it on the Instagram and stuff and the time with your son and you really love, you love Bitcoin farms and I think it's nice.

Craig Spodak
0:41:57
I do, I do.

Craig Spodak
0:41:58
Actually, I changed it to Bolden Farms.

Peter Boulden
0:42:00
Did you, did you?

Craig Spodak
0:42:00
Yeah, I wanted it. I didn't wanna release it on the podcast because I thought it wouldn't be as heartfelt.

Peter Boulden
0:42:05
You should, all my intel, they bought you a farm.

Craig Spodak
0:42:08
You did, you did.

Craig Spodak
0:42:09
Peter Bolin made me the money that I bought the farm with Let It Be Here that's known. And haunted me and taunted me into buying more.

Peter Boulden
0:42:16
All these taunts.

Craig Spodak
0:42:17
Taunted, hey, I'm buying a Bitcoin at 12,000, your turn. Oh shit, 12,000, it used to be three, I can't do that.

Peter Boulden
0:42:25
I feel like it's gonna be in a bad spot for a while, by the way.

Craig Spodak
0:42:28
Why is that? I wanted to talk about that.

Peter Boulden
0:42:30
Because of the Ukraine? Because of the instability, yeah, Ukraine, the situation. People are always… If anything, I would have thought when the Canadian… It's still a correlated asset, Craig. I know, but the Canadian truckers just got their assets frozen. The Russians, there's oligarchs with billion-dollar boats that can't move because of the Swift code. Isn't this a full-on testament

Craig Spodak
0:42:53
to a decentralized monetary system? Isn't it? This is the- So why is it not running?

Peter Boulden
0:42:59
Because there hasn't been enough time for people to connect all the dots because we're living in such a chaotic time that it's like, so there hasn't been an increase in demand because we're in state of flux right now. When we get out six months and reflect back on Canada, right? And Canada is actually going so far as to persecute people who actually donated to the WeFundMe or whatever it's called. Can you believe that? And so they're freezing accounts of people who did donations who are Canadian citizens.

Craig Spodak
0:43:30
So I can't believe that that's happening.

Peter Boulden
0:43:33
So that's, you know, there's a famous phrase in crypto Twitter that whenever you see stuff like this, people respond, Bitcoin fixes this. Whenever you see stuff like, you know, and it does.

Craig Spodak
0:43:45
I think didn't Elon say something?

Peter Boulden
0:43:47
Maybe, maybe, but my point is, is I am not super bullish right now. I don't think anyone's super bullish about anything, correct, I mean, I don't think it is.

Craig Spodak
0:43:59
Just because of instability.

Peter Boulden
0:44:00
Yeah, look, I mean gold's not running. The only thing that's going to run is going to be oil because why? Russia has a massive pipeline. And so I think everyone literally is fleeing, they flee to cash in situations like this. Look at the stock markets all over the place. They flee to cash, they flee to gold, doesn't change the price. And then you will kind of reassess when the dust settles and then recalibrate. But unfortunately, Bitcoin is still a correlated asset.

Craig Spodak
0:44:29
I can't understand why. I mean, if you would have asked me five years ago, do you think that people will protest like peacefully and the Canadian government would seize their bank account?

Peter Boulden
0:44:37
I don't personally care.

Craig Spodak
0:44:38
I would have said no chance.

Peter Boulden
0:44:39
I don't personally care when there's these points and people say, well, why isn't it doing this? And why is it? Like my whole thing I look at, and I've been involved in that for seven years now, six years, seven years, six years, is that I just want to make sure that there's higher lows forming. And I zoom out just like you should in life. And as long as the trajectory is like this, right, and there's higher lows that form. And when you have a global crisis, is the worst that it does is 38,000?

Craig Spodak
0:45:08
Cool.

Peter Boulden
0:45:09
You and I remember being on stage with you in our relationship and it was 2,900.

Craig Spodak
0:45:14
Yeah, when we had the Palm podcast, it was 18,000.

Peter Boulden
0:45:17
Right, so like as long as it's

Craig Spodak
0:45:18
going to be higher lows. The Get Off Zero podcast.

Peter Boulden
0:45:20
Higher lows, I'm good with that.

Craig Spodak
0:45:23
Yeah, you mean the base, it doesn't fall to new lows. By the way, and I wanna run on here, but what do you think is gonna happen? Because I haven't talked to you about it. What do you think is gonna wind up happening in Ukraine? What's going, what are you, what have you been paying attention to?

Peter Boulden
0:45:37
So, the thing too, as I was setting up the radios in my Crawl space at my lake house to put in because raccoons don't like Sound what'd you put it on NPR? I heard they don't like a talk radio

Craig Spodak
0:45:51
No

Craig Spodak
0:45:52
You make your raccoon like a leftist

Craig Spodak
0:45:55
Jump out be like AOC, tax the rich. Like, damn, I got a Marxist raccoon. That's the worst. So I'm learning, I don't ever listen, oh my God.

Peter Boulden
0:46:06
You're funny.

Peter Boulden
0:46:06
Look, the, so I'm listening to the talk radio, right? As I'm trying to like install this, you know, lights and cameras and Nest cameras and all the things, right, me trying to be this, what do they call it? Professional exterminator.

Craig Spodak
0:46:28
Anyway.

Peter Boulden
0:46:28
And so I'm listening and like, so, so I think what happens back to your question is I think the world is the tide is starting to shift more and more towards. Towards Ukraine. And to the point where like, they are actually saying like, Hey, if you want to come fight with us, come on. I know it's crazy. And so guess what like it even Russians are you know people who heard? Are now actually even like defecting and so I don't know you know Unfortunately when you're dealing with four nationals who knows Unfortunately that who have nuclear power like who knows Three well you never know what you know you never know World War two and World War I never knew that the events that were happening were the precipitating events of those World Wars. They didn't realize at the time. It's easy.

Craig Spodak
0:47:22
One wrong move, one errant missile, one, you know, if the buttons are being readied, I

Craig Spodak
0:47:27
mean, geez.

Peter Boulden
0:47:28
You know, it's been six days now and I feel like it's going to be, I feel like it's moving a little bit more volatile and sometimes you have to have the volatility before you're going to have some kind of, I don't know, a treaty or whatever or ceasefire or whatever it's going to be. But hopefully there's resolution soon from the sake of the citizens.

Craig Spodak
0:47:44
You pre-named President's Science formal request to join the EU.

Craig Spodak
0:47:48
Yeah.

Peter Boulden
0:47:49
So, I mean, I don't know, but I am not a geopolitical expert.

Peter Boulden
0:47:54
I mean, either.

Peter Boulden
0:47:55
I have a probably grade five level understanding of this stuff.

Craig Spodak
0:47:59
Yeah, I'm like third grade. But I'll tell you one thing, Zelinsky, for what it is, like when we offered to airlift him out, he's like, I don't need a ride, I need ammunition. That's pretty baller.

Craig Spodak
0:48:09
And you know, because most people,

Craig Spodak
0:48:10
most leaders of, their heads of states are on like Black Hawk helicopters with a million dollars in their pocket and go living in London.

Peter Boulden
0:48:16
He actually has been sitting in camps with people side by side with war helmets on. So like, that's the, you know, we talk about leadership, Craig, and we always bring up the examples, like, are you the William Wallace? Like, to me, that's a William Wallace. Like, you know, give me liberty or give me death kind of thing. And I think that's, if I were fighting, if I were someone fighting in the Ukrainian Army and I saw the William Wallace next to me being like,

Craig Spodak
0:48:45
let's go.

Peter Boulden
0:48:46
It would be amazingly inspiring. It would be amazingly inspiring. Amazingly inspiring. So anyway, so we're obviously not experts on that. No, we're way out of our lane. We totally are, but you know, just because we're not, someone's actually said that on Naval, I was looking at Twitter, because that's the only social media I look at, and I don't think it's social media, by the way. But Naval said something about this, and he was basically giving his opinion. And if he goes, if I get one more stay in your lane comment from people, because people associate him with wisdom and prognostication and all these things, and all of a sudden now he changed and had an opinion about something else. People are like, stay in your lane. He's like, if someone else says that to me, I will immediately block you, which is just crazy. It's just crazy. So even Naval gets trolled, which is just fucking crazy. So we will not, let's stay in our lane, Greg. We'll get back to dentistry. But we'll tell you something that I've been thinking about doing a lot for Bulletproof, and I'd like to get some, I've been hemming and hawing on doing this, but it's made such a big difference in my life. And I wanna talk about kind of like peak performance and taking care of your body and eating well, sleeping well, testing well, supplements. I actually just did a cool test just last week called the gallery test. I know you told me not to do it. Because you're like, why do you want to know all that stuff? But it's actually on that podcast with Tony Robbins and Lance Armstrong. Tony's talking about it a ton, by the way. Yeah. Because they're doing it down at Fountain Life. But anyway, this gallery test can test for 50 types of cancers on a microscopic level, far before MRI. So it's new technology that has allowed for you to be able to take these kind of tests. And so there's two camps, people who don't want to know, people who want to know everything. I happen to be, as you know, a pod person who wants to know everything.

Craig Spodak
0:50:42
Well, what do you do with it? So you obviously got negatives on all of it?

Peter Boulden
0:50:46
I haven't gotten the results back, I just did the blood draw.

Craig Spodak
0:50:48
Okay, so what do you do with it?

Peter Boulden
0:50:50
Well, I don't know yet. If I get back positive results, nothing. If I get back negative, it's gonna mean that we need to go, then it's, I mean, I'm sorry, if I get back, I get back positive results, meaning that there's cancerous activity somewhere in one of these, precancerous activity, then I have to take action, right? And I don't know what that action is. Yeah, so what would it be? I don't know, Craig. I don't know the next steps because I'm not there yet. I haven't figured out all the plans because I will cross that bridge when I come to it. I do know that there is a high likelihood that everything will be fine, at which point it feels good. Because, you know, as you know, my wife got breast cancer. And so it's prominent in my family, so to speak. It's not in my genealogy, but it is prominent in the talks of our family. So I was like, look, if I can do a test that actually gives me peace of mind, and that's what my whole podcast was gonna be off, is really, it was a health talk about put the oxygen mask on you first. Because I think in dentistry, we so much, we grind, we grind, we grind, we take out toxic metals, we grind, we get stressed, we do this, we lead teams. And we forget how many people are so dependent on the quality of our lives, right? The longevity, the sustainability of our lives is very important. And us being vital and staying healthy and being good leaders and not being stressed is really, really important. It's not a luxury, it's really important. So that's what I was gonna do the pot on. And unfortunately I did it and it was like 45 minutes and I felt like I was rushing through all the health topics and the food and the water and the sleeping, which I've become a sleep expert recently.

Craig Spodak
0:52:18
I know, you're already pretty good with it.

Peter Boulden
0:52:20
Well, but now I'm like, dude, I gotta dial it in. I got all the tips and tricks because sleep is the greatest hack of the quality of life you could ever do. So anyway, but I really was thinking, I was like, maybe I'll break it up into like five parts. I'd love to hear it. Yeah. So maybe I'll do that. And that's it, man. And I think we got to figure out what we're going to call this. If you're still listening, this was just going to be a Craig and Pete rant. A lot of times we just do. We just do. And we talk and sometimes we ramble to each other and we're like, oh, we should have been recording this while we're on the telephone.

Craig Spodak
0:52:56
So maybe this will be aired, maybe it won't, who knows?

Craig Spodak
0:52:58
Who knows?

Craig Spodak
0:52:59
Who knows?

Peter Boulden
0:53:00
Who knows?

Peter Boulden
0:53:01
I gotta tell you, but I'm really excited about the summit. More things are evolving. Actually, guess what? Bo, listen to this. So Bo, my videographer, is gonna be speaking. Nate wanted to share the stage with him after learning about this new Intel. So Bo is going to come on stage with Nate at Summit and talk about TikTok. And so we, as elder statesmen, do not, you know, as TikTok is a little bit scary to me. I don't really know it at all. I don't know how to advertise. It's not my lane, as is like video production and Facebook ads and copy and design, things like that. But Bo is a master in TikTok. He has gotten, for our practice, he did a point of view where he's 70, so he did a point of view thing, and he got 45 million, with an M, views. And so he's gonna be coming to share, like, you know, A, he's a video expert, but also just kind of sharing and giving some intel for if a practice is interested in doing TikTok, he's gonna kind of break some of that down. Like, here's how I do it, here's what we do. So, and Nate thought it was so important. He's like, dude, you need to share the stage

Craig Spodak
0:54:10
during my lecture.

Peter Boulden
0:54:11
So, everyone loves marketing stuff and to stay relevant. I was like, this is the first time you're hearing this. I know that he's coming, but I'm really excited about that part of Summit. And just you and I prepare all season long, all year long for content. And like with all the changes we've talked about, Craig, there's so many things that are going on in terms of the environment and the geopolitical and dentistry and inflation. And so I think this will be probably the most important summit in my opinion.

Craig Spodak
0:54:42
For sure, for sure, mine as well.

Peter Boulden
0:54:44
Because I reworked all my stuff too. Because it combines all the team too, right? We've got so many tracks going on with your team and your hygienist. And it's like, man, I wish I had something like Bulletproof when I was five years out, four years out, because I think it would have really expedited my path, Craig. I think I would have found out who I was. I don't think you learn who you are until you're about 45, and for my case, I'm 45 years old.

Craig Spodak
0:55:11
But it would expedite a lot of- I would say that too, yeah.

Craig Spodak
0:55:13
Right?

Craig Spodak
0:55:14
Well, just feeling bad about who you aren't. Yeah. You know, the unnecessary suffering that took place, like trying to figure our way through things and just like being able to, you know, skip all that stuff. I think it's really powerful what we're doing. Obviously, I'm a huge fan. I redid all of our stuff or all of my stuff, you know, just trying to get it more consolidated and sharper, just sharpening everything up, which I'm excited about.

Peter Boulden
0:55:42
Yeah, but look, it's hard to, I think the biggest takeaway is the team thing, and we should have probably pushed on this early in the beginning, but we didn't know. But just having your hygienist there, having them learn side by side, having your assistants there learning side by side, having your office manager there, and dividing, Craig, dividing up and learning and then coming back and conquering is fucking magic, man. You talk about leverage and not having to do all the work yourself, we talk about financial leverage all the time. You talk about getting your team fired up and then coming to work and on this new vision and mission, it's crowdsourcing your team and getting everyone fired up. It's just like, that's the magic. I wish I had someone who'd been like, hey, you don't have to do it all yourself, Bolton.

Craig Spodak
0:56:28
You don't have to do it all yourself.

Craig Spodak
0:56:30
Yeah, I used to have a, you used to say that a lot. You're like, I'm the nucleus. Involve your team more, involve your partner more. You used to say that. You used to say, I'm the nucleus of everything. And so it was a self-loving belief.

Peter Boulden
0:56:37
Yeah, and that's a horrible place to be.

Peter Boulden
0:56:38
You don't want to be the nucleus of everything.

Peter Boulden
0:56:40
You want to be like a mitochondria, like one.

Craig Spodak
0:56:43
Yep, I don't remember what mitochondria is.

Peter Boulden
0:56:45
What do you mean? They're the energy of the cell.

Craig Spodak
0:56:48
Is that part of the Krebs cycle?

Peter Boulden
0:56:49
That just brings back a flashback for me. ATP? Oh, God, don't even talk about that. No, I don't want to talk about it.

Craig Spodak
0:56:55
You want to talk about NMN?

Peter Boulden
0:56:56
Actually, that's actually in my health talk. We talk about this.

Craig Spodak
0:56:59
Is the distal loop of Henle involved in this conversation? No, no, no. Retrofisticular patebdomas.

Craig Spodak
0:57:04
No, no, no.

Peter Boulden
0:57:05
Isn't the distal loop of Henle involved in the kidneys? I don't know.

Craig Spodak
0:57:08
I'm just having mental vomit from 27 years ago when I was learning this crap.

Peter Boulden
0:57:14
Yeah.

Craig Spodak
0:57:15
Enantiomers.

Peter Boulden
0:57:16
I remember that.

Peter Boulden
0:57:17
I remember that one.

Peter Boulden
0:57:18
Last thing, what are we calling this, by the way?

Craig Spodak
0:57:20
We're talking about this.

Peter Boulden
0:57:21
We don't highly disappoint people for this grant.

Craig Spodak
0:57:22
Inflation, Ukraine, and student debt.

Peter Boulden
0:57:24
No, no, no. It can't be. It has to be something, right?

Craig Spodak
0:57:27
Putin for as the president.

Peter Boulden
0:57:28
You know how Chris did tough talks, right? And he had tough talks with it. Yeah. That was so nice. So we got to have something where you and I can just be permitted to ramble. And if you like to ramble, smash the like button. If you all the other ones there's like a smash the like button.

Craig Spodak
0:57:45
That'd be nice. Well, why don't we just call this the Craig in the Bulletproof Dental Practice? How would you call this smash the like button? Yeah, smash it.

Peter Boulden
0:57:53
Just like people know what we need to destroy it. Pete's in Craig's rants.

Craig Spodak
0:57:58
How about that?

Craig Spodak
0:57:59
Yeah. Putin for President Putin for ask the president. What if Putin was a dentist Putin perio perio model. Oh my god. All right with that you're getting delirious

Peter Boulden
0:58:08
Hi, everybody right now. All right everybody. Thanks for thanks for staying with us, and we will see you next time See y'all take care See y'all take care

Craig Spodak
0:58:16
Putin

Transcribed with Cockatoo