The Jon Sanchez Show
09/25-Why entrepreneurs need the government’s help….now!
What's next? At Moss Adams, that question inspires us to help people and their businesses strategically define and claim their future. As one of America's leading accounting, consulting, and wealth management firms, our collaborative approach creates solutions for your unique business needs. We leverage industry-focused insights with the collective technical resources of our firm to elevate your performance. Uncover opportunity, and move upward at MossAtoms.com. Good Wednesday afternoon to you, and welcome to the John Sanchez Show on Newstalk 780K. I'll pull a letter to be with you and I'll pull a letter to be with my co-host Jason Ghana Sanchez, wealth management. Big J, how are you this hump day? I'm doing okay. I am having a tough time figuring out this market air term, but otherwise I'm doing fine. You know? Well, see, you should have been on the show with us last night with the boys, because I said exactly that exact same thing. I said, something feels just a little bit strange right now, a little tired, just some underpinnings, as you and I have been discussing and strategizing. Of course, I'm being fishy, just when I say feelings, it's not all about feelings by any means that we have data, but yeah, it kind of unfolded today, didn't it? We had a lot of the same. We had China with another stimulus program, and we had Nvidia moving up, but the rest of it, yeah, started to roll over just a little bit, and you know, tough day for AMGIN. There were a couple of stocks in the Dow that really drove it down to the 300-point loss and small gain on the NASDAQ, et cetera, but yeah, it was definitely an interesting day-to-day, and when I think that we need it, I mean, my gosh, this market cannot keep setting records day after day after day, and we finally snapped a four-day wind streak on the Dow side of things, and S&P didn't finish at a record again. So yeah, I think it was just a little consolidation and necessary every once in a while. And sort of as we've talked about, there's no mechanical catalyst to move it one way or the other, right? That's that post-option-expiration malaise, right, and again, I would say it's constructive that the first move isn't down, right, that there's enough, it's almost that buyers equal sellers at this level, so we're looking for the next thing. Will it be G.D. or P.C.E. on Friday? It will be durable good orders. Tomorrow, micron numbers were very good after the close, that could help spur STEMIs. Yeah, so, you know, there's enough pros and cons, I would say, to keep us at least anxiously awaiting something new, but not fearful of a catalyst that's going to make things tumble. Again, I completely agree, it's just almost tired after yet another V-bottom bounce that we got in August and then we got it again in September and, you know, sort of where does it go from here? Yep, yep, absolutely. All right, let me tell you what we have lined up for you this afternoon. You know, I'm going to try to do this, I'm just going to forewarn everybody, I'm going to try to do this without boiling my Mexican blood, as I like to say, because this is-- Yeah, I saw that piece. He's in a micron. Yeah, you sense my tone, didn't you? Yeah, I'm like, "Don't be well, my friend, dude, don't be well." Darn. Yeah, I know, exactly. But I'm going to try to go through this topic tonight, and Jason always does a great job of kind of keeping me calm, so if I get out of whack here, Jay, it's your job to reel me in here. Sure. Or just sit back and let you, you know, roll off and ride exactly. Sometimes that's a good thing to do, exactly. But you can't believe he said that, but this is fun. Yeah, right. Hey, John said that. I didn't say that. John said that. Right. But here's what we're going to be discussing, and we're going to be talking about small business in this environment right now. But let me tell you the reason why I wanted to talk about this topic tonight. So you know, every morning, of course, you know, I start at 523, and every 30 minutes, whether it's myself or Jason, we do livestock updates with Ross Mitchell in the morning show. And I was teasing with Ross this morning off the air, you know, every time I click in, every time I get ready to speak with him, there's a political add on, you know, a few of them for Trump, a lot of them for it to be over. Yeah, you and me both, a lot of them for Harris, a lot of them. And finally, after about, I don't know, the six or seventh one that I heard this morning, Jason, I'm like, I can't take this anymore. Not so much the ad. I mean, yeah, we're all sick and tired of it. I don't care what side you're on. I just hate political ads. But what I hate is this, none of these politicians, I don't care if it's Trump. I don't care if it's Harris. I don't care if it's anybody, whether it's a local or a national. Nobody is given a damn about the economic driving force of our economy, which is Jason and I and thousands and thousands of others like us that are small business owners, right? Nobody talks to us. Nobody says, what can we do to help you, the driver of the economic engine of this great country of ours? What can we do to help you? What are the issues that we can do to help you, right? And I'm at my Woodson, Jason, you know, I got so upset out during COVID when, you know, so many programs that there were a few for certain businesses, but so many programs were available for everybody else. But these politicians are not smart enough to realize, you know, let's go to the root of what drives this economy. And folks, if you think for just a second that it's the government that is the job driver of this country, you're absolutely wrong. It is a small business owners. We are the ones that create jobs. We are the ones that provide economic growth. We are the innovators. We are, you know, involved in our communities. We do it all. But yet the politicians, and you would think, you know, after all these years of politics, someone would wake up one of these days, say, you know what, let's target if I'm a politician, let's target the small business owner, because he or she does so much for this country. And no one cares about us. Nobody. All they want to do is raise our taxes, raise our penalties and fines and this and that and everything else, but no one does anything for them. And so I'm going to stand up for you, small business owners tonight. And Jason and I are going to go through, again, talking about why small business is so important. And maybe, just maybe, you know, whether they're listening, meaning a politician, or you're connected with a politician, you can get the word out to them and say, you know what, if you really want to garner some votes, why don't you talk to the people that provide jobs in this community? Because again, it's not the major fortune 500 companies that do it, folks. It's not the government. It's, you know, the two or three person business down the street, the Mexican restaurant that you go to, the bar that you go to, the restaurant, the small brokerage firm, whatever it is, the contractor, those are the ones that are providing, you know, economic growth, but yet no one wants to ask them, what is on their mind? What are they concerned about in this upcoming election? So yeah, it's an area I'm very, very passionate about and it's one that I think, you know, has gone quite way too long, Jason. The $50,000 deduction or whatever for starting a small business. Yeah, they're not making any money anyway. But if she really thinks that this country and especially, you know, business owners who by nature are pretty dog gone smart or that stupid to think that you're going to go to the government and get a $50,000 handout to start a business, you got another thing coming. Just like those of you if you think she's going to hand you a $25,000 check to go by your first home. You got another thing coming. These are all just political, you know, bait hook and switch tactics that these politicians are using. Whatever comes true, they'll never get through Congress and therefore all they are is vote getters. That's all they are. And anybody that puts their hopes on that, man, you got another thing coming, unfortunately. Yeah, I think that's, again, this may just be more of a conversation about politics in general. But yeah, that's the frustrating part. Yeah. And, you know, on the flip side, it seems that is, I don't know, it's very contentious. This election anyway, right, that I'd find that I keep telling folks, no matter what, 25% of the people are going to be incredibly unhappy come November 6, 7, 8, 10th or whenever the heck they decide that the votes are good enough to have counted and I think Georgia's going to have, right, start counting on toes. They said, we're going to hand count. I'm like, oh, good. That's okay. Awesome. Perfect. But, you know, it's the, all of the information that we get, I mean, like I've said to you before, like I look at Twitter for news items and 49er stuff, but the amount of just madness of Kamala and associated with P Diddy and Trump and Diddy, and I mean, just, it's just insane, the, you know, that it very much to your point, it's much less about actually what matters to people and more of like inciting your inner frustrations about how much you don't like one or the other candidate, you know what I mean? It's not like, I'm going to do this and they're going to do that. It's, you know, what terrible thing can I say about the other person and how bad it's going to be for you if they win, right? To the politicians. To the politicians not think that the public is so sick and tired of hearing that and now, I'll give that to Harris. I will give that to her where she's like, you know what, people are tired of fighting or I forget how she phrased, but that was the gist of it is basically people are tired of this and it's true people are talking out of both sides, though, and you know, I'm not going to defend two, but it's just why can't somebody come out and do and say something because it's really is going to help. You know, that's, that's the part that gets me taking guess how many small businesses there are in this country. Wow, they would just be throwing a dart. I'm going to go with 50 states. Oh boy. Yeah. 68 million. No, no, man. I wish there's that much. No, 33.3 million small businesses in the US, 33.3 million, 99% of all businesses in this country are small business. Yeah. Okay. Now they employ 61.7 million Americans totaling 46.4% of the private sector employees from 95 to 2001 small businesses created 17.3 million new jobs accounting for 62.7% of all net jobs created since 1995. This is according to the office of advocacy at the SBA.gov. So it is a powerhouse, politicians. It is a powerhouse of what small businesses can do and the fortitude they have and the risk they take and so on and so forth. But yet none of you want to pay attention to them, talk to them, help them out. And that's the point we're going to try to get across tonight. All right. When we come back, we're going to get down into the details of today's market activity. Again, a bit of a rough session today. We're going to tell you the reasons behind it. What happened? Who are some of the movers? Get to the commodities and then we'll get to our topic this afternoon. Why entrepreneurs need the government's help now? Let's turn it over to Kristin Snow. She's in the right now. Traffic center, Kristin. Welcome back to the John Sanchez show on new stock 780KOH with Jason Gondas Sanchez wealth management. All right. Here's the damage that was done today, a 293 decline on the Dow 0.70% with a close of 41,914. And as that a small gain of eight points closing at 18,082 and the S&P lost just 11 points, finished the day at 5,722. Tough day for oil. Jason, this one, I want to talk about this for just a second because this is, I think you were saying earlier about an odd construction hit. Yeah, this one just has me absolutely puzzled. So I'd love to, love to discuss this. So here we have oil down two and a half percent. We broke $70 a barrel again, 6978 is where we finished up, Hezbollah launched a intercontinental ballistic missile. The biggest, baddest that they have ever launched, luckily Israel knocked it out of the sky. If there is any reason for oil prices to rise, you would think the Middle East tensions would do it whether, you know, it's, I know there's all kinds of speculation of how much it truly is. China stimulus. Pardon me. In China stimulus? In China stimulus? I struggle with this move, right? Okay. I don't know if it's mechanical or something about energy futures rolling or something. I've been sort of dumbfounded all the way other than the, you know, again, I don't think this is the case. And the, if the economy is slowing down recession, et cetera, a week or for oil, so on and so forth, just that part, you know, right, I agreed. I mean, I'm just, you know, I was surprised it was, that was the case. It's week old day, technical reasons to just looking at a chart. You can see that it sort of flashed up against us some resistance and rolled over. But I'm still a buyer on weakness, I would be surprised if there wasn't some follow through to the upside in this, we just found some big oil field somewhere that I'm not aware of. Yeah, I know. Yeah. It's a, there was also a bit, I mean, again, oil was down today. So it's not just that, but there was certainly a value growth rotation that went on today. You've seen value outperformed growth for going on a, you know, a couple of weeks now. And that hit some resistance and you saw a bit of that unwind today where semis were acting better while energies and some of the more defensive areas of the markets were underperforming. So it could have been a handful of things, but yeah, I was digging around and couldn't find anything that really gave any color as to why oil was as weak as it was. Did you read about that missile? Yeah. Did you read it all about it? This whole thing is crazy. It is. Yeah, it's. I mean, this has been the thing that I've told clients that is the thing that concerns me the most. It's not the US domestic, you know, our economy is as strong as one would expect demographics and interest rates and you name it and sure the election is going to be goofy, but it's more China, Taiwan, Israel, Hamas, Gaza, that kind of stuff that can just create frictions that, you know, and again, whether you want to call it current administration stuff too. It feels like there's, there, there isn't a lot of big brother for lack of a better term out there and I'll raise my hand to say I've been one that's been begging to like, let's just let some of these guys fist fight each other, right? Like why do we always have to come riding in and, you know, spend a bunch of money to fix everybody's well, like, clearly it hasn't helped that this is still going on, right? All the money and all the things we've spent before and listen to you, then, it keeps going, right? It just keeps, they just keep doing it, you know what I mean? And so, but I don't know, it certainly seems like they're running a bit unabated. Folks, between Jason and I, we have over 55 years doing this crazy business and I was thinking about this before the show and tell me if you agree with me. Looking back over my career, you look back over your career. Have you ever seen a time period where there were global issues such as Hezbollah, Israel and the whole Middle East mess right now, where the markets, whether it's oil and or the stock market, international or domestic, we're so immune to it, I've never experienced that before. Usually, you know, especially the first time you see rockets fly, I mean, we didn't even get that, remember, we were doing the show that night and you really didn't see a significant, well, no, actually, we just got down and they started flying about nine o'clock because you and I were talking back and forth, but you know, I've just, I've never seen that and that's the other thing that has me very, very perturbed and puzzled is, again, why is the world not meaning the financial markets not paying attention to this? And my fear is, my fear, and I hope to gosh, I'm wrong. My fear is that you do, as you and I have experienced in our careers, you do wake up one day and all of a sudden what was no concern whatsoever, all of a sudden becomes a major concern and the markets obviously react in a negative basis whether we're talking domestic, international, et cetera. Yeah. I mean, apathy, unfortunately, yeah, it sort of sets springs in some areas, but I, it could be just, I don't know, the fact like I'd said earlier, like this happens so often that, you know, again, not to say that it's correct, but the complacency is probably uber-wide at this point. You get jaded. You get, I think people get jaded. All right, here we go again. You know what I mean? Yep, here we go again. How much does Israel and direct Middle East truly dominate other than oil? But remember, the US is the largest, one of the largest producers now, so we're not at the beholden to that anymore, right? And that was part of sort of Trump's goals and, you know, I mean, so, so, I'm happy that it's not a speak of it. Oh, yeah. No doubt about it. At the same time, I completely agree. It just, it just could be the fact that A, the mechanics of the market are far more powerful than we even know it is so much less about, I think the market's going to go up. So I'm going to go buy some shares of blah, blah, blah, like it, that stuff is just, gone the way of the dodo. That was 20 years ago, that, you know, that institutions and people are moving stocks. Like, it just doesn't happen like it used to happen anymore. It's more of ETFs and flows and stuff like that. Well, in the algorithms, right? Right. That's what I'm talking about. The emotions, no human being. Exactly. I'm talking about that. Yes. It doesn't care. It's just mechanical. And right, we're coming into quarter end and you're going to start to get some of that, you know, sell equity to buy bonds or sell bonds to, probably sell bonds to buy equity, I believe, is the trade because rates have moved down so much that the bond portfolios have done very well over the last two months. We'll talk about the waiting that, you know, hedge funds and portfolio managers have to go through the end of the quarter. Yep. You have to rebalance back to target if you're a balanced fund or have a set skew of what you need to be at. And remember, the 10-year bond has moved from 5% to, you know, 3-3/4 in 3-1/2 months. That's been very positive for price return for bond portfolios. The 60-40 portfolio has been, all this call of it being dead has been a darling this year. I mean, absolutely incredible to have a 75-25 or 60-40 portfolio has done incredibly well because bonds are now acting as that, you know, sort of ballast that they had for so long versus being highly correlated to the stock market. But yeah, I mean, I just think the mechanical part of this market has just gotten bigger and bigger and bigger. And there's less of that reaction and less one of the big macro funds starts to decide they want to make a trade. I mean, look at some of the FXs that moved or even China-specific ETFs yesterday were up like 8% to 10% in a day, right? Like that's massive short covering, et cetera, and maybe that's what people are focused on as well as some of the other parts, AI is dominated instead of the geopolitical in their term. Indeed it has. Indeed it has. All right. When we come back, we're going to get down to the entrepreneurial side of the business. Why the entrepreneur needs the government's help? And I hate saying that. Don't get me wrong. I never want government help, but you'll understand what we're talking about when we come back. Let's turn it over to Greg Neff. Kind of some breaking news, Greg. Go right ahead, man. I can't wait to hear this. Welcome back to the John Sanchez Show on News Talk 780KOHH with Jason Scott. Once again, we finished down 293 on the Dow, a 0.70% loss, closing up $41,914. The Nasdaq rose 8 points and the S&P gave up 11. Here's a quick reminder. Jason and I are going to be hunkering around the microphone. Well, not really. The microphone on our cameras because we are going to be launching our next great event coming up. This is going to be about the critical one year, the 12 month checklist, that you should be following as you near retirement. You know, as you hear us talk a lot about on this program, we basically go over all the different retirement issues and challenges and things that people need to be thinking about. This is a time period, folks, where again, you cannot make any mistakes. If you do, it could really cost you a comfortable retirement or be delayed the retirement. And so we're going to be laying out all kinds of great things for you from asset allocation, tax strategies, estate planning, cash flow analysis, all the things that Jason and I work with our clients on literally on a daily basis. We're going to bring it all together to you in a webinar format, and it's going to be a lot. And we're going to always, as we love to do, we're going to stick around. If any questions, of course, arise afterwards, which we hope there will be, we will be there to answer them for you, so you get us kind of one-on-one with a few people listening. But it's just going to be a great event, Jason, and one that truly looking forward to you, because this is something obviously you and I are so very, very passionate about. Yeah, and we're putting all these on our website as well. So very much, we can only go so deep in the window that we have here, given that we cover the markets and cover the day-to-day. It's a much more, say, instead of being 10,000 foot, we're going to get a little bit lower closer to the ground to really help you dig into this critical phase. But also, as you mentioned, if there's anything that people need coming out of it, we can always ask questions and we can answer any questions that you have. It's great. You better believe it. It's really simple to join us. All you've got to do is go to our website at sancheswealthmanagement.com. Click on the upcoming events tab and you will see the year one, or your one-year retirement countdown, a comprehensive checklist for a smooth transition. All you've got to do is just register around online. No charge, nothing. The day is going to be October the 2nd at 6.30 pm as I mentioned. So again, October 2nd, 6.30 pm. Love to see all of you there and I promise you're going to walk away with a ton of information. And most importantly, hopefully those of you, again, that are, we've kind of designed this really for those of you that are within one year of retirement, but it's just brought up on Monday when we touched on this, you know, even if you're three or four or five years, that one year is going to be here before you know it. And as we always like to say, we love working with people plenty of years ahead of retirement so that we can, you know, basically kind of shape and mold and get all these, you know, moving pieces lined up because frankly, one year is not a lot of time when, you know, there's so many different moving parts that you have to, you know, focus on and make sure you're lined up all your health insurance or your life insurance and, you know, I mean, the list just goes on and we're going to go through this. So yeah, really for anybody that is, you know, thinking about retirement just within the next year or, you know, say even within the next five years, this event will be for you again. October the 2nd, 6.30 pm. Sanchez wealth management.com and again, click on upcoming events and just sign up right there. We look forward to seeing all of you there. All right. Now we're going to get down to our topic tonight. Again, the small business owner, the entrepreneur, the hardworking man or woman out there that the government just forgets about never says anything to help you out, right? That's my frustration with this whole thing. You turn on the TV, the radio, the internet, whatever it may be and all you see of course or, you know, badmouthing back and forth, but nothing of real financial substance for the economy, much less for the small business owner. And so, you know, Jason, during the break, I was actually, it's funny. I was just doing a little research and lo and behold, and trust me, I did not see this before tonight's show. CNBC did a story back on May the 2nd of this year talking about how small business owners feel left out of, you know, basically all the stimuluses and all the different programs and things out there that there's nothing for them, but yet they are the ones that are the economic driver of this whole thing. So, you know, I'm not the only one that's thinking about this. If you just joined us, I'm going to share with you again. So, Jason and I came up with at the beginning of the show, 33.1 million businesses are in this country. 33.1, again, 61.7 million Americans totaling 46.4 percent work for the private sector. And again, if we go back from 95 all the way to 2021, small businesses created 17.3 million new jobs accounting for 62.7 percent of net jobs created since 95, and I got one more stat for you. That's a interesting one. Okay. You ready for this, Jay? Mm-hmm. Fewer than 5 percent of all businesses in the U.S. grow to be more than $1 million in annual revenues. Isn't that amazing? Wow. That is amazing. That is amazing. 5 percent. And fewer than 1 percent make it to the $10 million annual revenue mark. So, great, you know, as it says, there are a great number of reasons why companies fail to scale to an owner's desire or their dreams, and, you know, we try to help you every day on this show, you business owners, to scale, right? Yeah. That's the name of the game. Yeah. Couple stats I dug up here, too, from Guardian Financial. They went through and they highlighted, I think they interviewed 1,000 different small businesses, but it looks like only 4 percent said that it cost them less than $50,000 to start, right? So, it's not cheap to start a small business. 27 percent said between 50 to 170,000, and then 15 percent were 175 to 250, 27 percent. So, one quarter said it cost about 250 to 500,000 to start a business that, you know, again, was successful, and then it was about 20 percent over 500,000. And the other part, about 50 percent of the financing for these small businesses came from 401(k) financing. So, pulling money from IRAs and 401(k)s, et cetera, to fund your business, right? And that's difficult, right? That's exactly what I did. About 20 percent come from, yeah, it's crazy, about 20 percent comes from cash, 12 percent from small business SBA loans, so that's very much to what you were mentioning, like create incentives to, you know, if you're going to, I'd rather see something like that subsidized than whatever, the 50,000, you know, deduction stuff, but create, you know, if you're going to subsidize anything, maybe SBA loans is a great way to do it. Only 3 percent are line of credit or term loans, and then 3 to 5 percent were friends and family. But the bulk of them were sucking money out of their retirement, trying to create the next thing, and that's hard, right? If that isn't successful, you're sort of double hurting yourself in that you've removed your safety net and you've, you know, probably put yourself at a tough spot, that's hard. You know what went through my mind, and, you know, I've been in this business for five years when I branched out on my own, and again, for those of you that don't know the story, I was working, I started Sherson Lehman Brothers, and eventually in five years it became Smith Barney, and that's when I, you know, after a number of mergers and other reasons, that's when I decided to go out on my own. And of course, that was kind of the advent of the internet and things, so technology was now there, et cetera. But, Jason, the way that I looked at it, I was maybe 30 years old, I think, when I opened my doors. But the way I looked at it, I was a starving young broker, I had a family and everything, and I think I was making 60 grand a year, and I didn't have any money, I couldn't go get loans because I didn't have a track record on my own, even though I don't know a number of other businesses, but not in this industry, and I said to myself, "Look, I'm going to lay it all on the line, I've got $19,000 saved in my 401k, $19,000 when I was at Smith Barney, that was five years worth of savings." And I'm like, "You know what, if I fail, okay, I'm still young enough that I can go to work for somebody else, but if I can't believe in myself, how can I go to a banker and say, "Hey, lend me money, right? Give me a couple hundred thousand to open this brokerage firm, and so on and so forth." So, that was just right, wrong, or indifferent, that was just my philosophy, as if I can't believe in myself, then why should anybody else? And so, that was my logic behind it, but, and I think a lot of, you know, talking to me, I have obviously a lot of friends that are entrepreneurs, we have a lot of clients that are entrepreneurs, and I think most of them have that same mindset. They don't want government intervention, but they want help, they, you know, yes, they believe in themselves, and they're, you know, most business owners, as you just said, they're willing to kind of lay their personal financial life on the line, and so, you know, why can't the government come out, and I love your idea, love your idea about, you know, a small business. Think, think, folks, just for a second, think what this country would be if these politicians, you know, again, just got a little bit smart and said, "Hey, you know what? There's, I don't pick a number, a billion dollars guaranteed by the federal government of SBA loans, or something similar to that, but make it a very, you know, low red tape type of procedure to borrow money, and do it. Look how fast, the government can do it, Jason. Look how fast they got COVID money out, and stimulus money, and things like that. The government can lend money really quickly when they want to, but yet, they don't think about that, you know, for the small business owners. So I think it just requires just a lot of ingenuity, and really, bottom line, these politicians wanting to help small business, and at this point, none of the politicians, none of the candidates, in my opinion, have stepped up to do that. So, all right, we'll continue our discussion, let's wrap it up with Kristin Snow, she's in the right now at Traffic Center, Kristin. Welcome back to the John Sanchez Show on News Talk 780KOH, if you missed any of tonight's show or any of our shows, please visit your favorite podcast distributor, Jason and I have hundreds of shows that are there for your listening pleasure. I promise you, just take a little bit of time, listen to them at your leisure, and you will learn a ton, a ton. All right, we're talking again about why entrepreneurs need some government help now. Now, Jason, here's a, I'm going to go back to the CNBC article, I had a chance to read it a little bit closer during the break. So again, this was a survey that CNBC did, like I said, May 2nd of this year, and it was a joint survey between CNBC and SurveyMonkey, and it was a business, a small business survey for the second quarter of this year. And here's what's really interesting, they asked small business owners, "How concerned are you about small businesses being ignored or left behind by today's business policies?" The Democrats said, so 65% of Democrats said they were very concerned about it, 26% said somewhat concerned, and the rest of it's around out to hundreds, very small numbers. Republicans, identical, 65% of Republicans, and they're very concerned about small businesses being ignored, 22% said somewhat concerned. But if we lump them all together, overall Democrats and Republicans, it shouldn't really matter, overall 58% said they are concerned about being left behind, 28% said somewhat. So this is, again, just shows that when it comes to small business, it doesn't really matter what side of the aisle you're on. Everybody faces the same problems, everybody has payrolls to meet, everybody has rents to pay, and so on and so forth, and don't forget to still continue to grow the business. And that's why, Jason, I wanted to do this show tonight, again, to stand up for fellow small business owners out there. You are the job creators. We told you how many jobs are created. You are the drivers of economic growth, right? Not the government, not the municipalities. Nobody else but small business creates the amount of jobs. No one even comes close as far as other industries. Jason, let's talk a little bit about innovation, right? We talk a lot about small caps, right, the Russell 2000. These are young companies. These aren't necessarily mom and pop type of operations, but at some point, they were, most likely, unless they got a bunch of seed money in the beginning, but even if you go back to the greats of Michael Dell, right, started it in the basement. Even Mark Zuckerberg started it in his dorm room, right? There are many very large businesses today that at some point were small businesses. They got a chance. They got help. They got whatever it was and a lot of diligence, and they became very successful, but innovation is really the driver behind small business. I couldn't agree more, and again, in that survey, I was looking at the bulk of folks. The number one reason that they wanted to do it is because they wanted to be their own boss, right? They were 28% of small business owners that they surveyed, and that was the reason is because they wanted to, you know, it wasn't to drive after their passion, ironically. It was only 14% that said, "Oh, because I want to do something that I'm good at." It was more of, I'm sick of being told what to do as to one of the big reasons. So yeah, I mean, that's a lot of times why those things start. And I think maybe that survey didn't ask the question, but I know from myself, as well as talking to many other small business owners over the years, the other one is they think they can do it better. They think they can do it better, whether it's more efficient or a better idea, you know, better mousetrop as the same goes. Yeah, no. It is. It's, like you've said before, putting your money, your mouth is, you sort of burn the boats, right? You got to make it work, or it's, you know, it's tough time. So sometimes that makes you find drive that you didn't know you had. Isn't that the truth? Cult survival, baby. It's called survival. Absolutely. Well, all I ask all of you, if you are a small business owner, you're not alone. We're here to help you if any way, form or fashion we possibly can. Talk to your politicians. Let them know. Don't forget about the small business owner. And all of you that are not business owners, patron, you're small businesses, right? Those are hard-working mom and dad, mom and pop's out there. They need your business. Big corporations. They need it a little bit, but definitely the mom and pop's need it. So patron, your favorite small business. Great job, Jason. That was a lot of fun. We'll do it again tomorrow on the John Sanchez Show. God bless. Have a great evening. This program was sponsored by Sanchez Wealth Management. 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