Learn more about being a better person through the positive impact of giving, difference of being the receiver from being a giver & the real definition of success from a person who experienced an extreme financial struggle while things were falling apart. And be inspired on how he and his family managed to still give, even on their toughest time.
00:02:04 - (Ari) You called your podcast How to Lose Money. And while we were setting up this interview, you mentioned that I should ask why. Yeah. So you definitely have a story about this. And I am incredibly curious. What is it?
00:02:04 - (Paul) One of my great goals in life is to be a great husband and father..
00:05:25 - (Paul) I decided years later when we started a podcast, I said, hey, everybody's got all these successes and I love hearing about them, but I would love to hear about people's struggles, failures, problems, setbacks
00:06:01 - (Ari) The focal point of this podcast is, of course, success and greatness
00:06:54 - (Ari) What you felt like while you were watching your empire crumble from having one and a half million in the bank to being two and a half million in debt, a $4 million swing?
00:07:24 - (Paul) I actually started a nonprofit, but I didn't get the people involved
00:07:55 - (Paul) Investing is when your principal is generally secure and you have a chance to make a profit. Speculating is when your principal is not at all secure and you have a chance to make a profit.
00:08:47 - (Paul) One of my heroes in life is a guy named George Mueller. George Mueller was a hellion in Germany in the early eighteen hundreds. And he turned into a pastor. And he actually started orphanages
00:09:20 - (Ari) Wow. You're saying just by being him. People just get donations?
00:13:19 - (Ari) So I did a little math over here on the side and I'm seeing that giving around 10 percent based on making what you said a half a million dollars.
00:13:52 - (Paul) There's some formula that would that it always would work out. I think it just worked then
00:14:36 - (Ari) Can you remember when you were in the crux of it? Two and a half billion dollars in debt. Remember how you felt?
00:14:47 - (Paul) I think since all of it was backed by real estate and since I didn't have any idea how bad real estate was going to be out again, a thousand eight, nine, I actually wasn't that worried about it
00:15:49 - (Ari) Do you have a notable story about your time in financial struggle?
00:17:08 - (Paul) We were pretty tight. I mean, we were making enormous interest payments.
00:17:53 - (Ari) How did it feel to end up being the recipient when you needed it?
00:18:00 - (Paul) I wasn't ashamed, but it was weird getting a hundred dollar gift card
00:18:28 - (Ari) Are you still debt free?
00:20:47 - (Ari) How do you define success?
00:20:56 - (Paul) Inner quality, that inner satisfaction and joy from knowing you did something really, really excellent
00:22:15 - (Ari) You told me that you work very hard to fight human trafficking. You're generating funding and you rescued victims. So how does this work? And what's the backstory?
00:24:14 - (Paul) My goal is to give a significant portion of our company's profits toward fighting human trafficking and rescuing its victims
00:24:35 - (Ari) How did this end up on your radar? How'd you get involved?
00:26:44 - (Ari) Do you have any crazy stories about human trafficking that you like to share?
00:28:08 - (Ari) Felony is a much, much, much griever crime that has a much further impact on somebody's life overall as opposed to a misdemeanor
Originally recorded 12/14/2018