I am passionate about the economic advancement of our people BY our people. Emphasis on BY us. This is why I created Todd Capital. I believe that we can’t fully progress until we become our own solution. Why? Because if they progress us they are still ahead of us which means we take two steps forward and so do they. This has been seen over and over again.
You don’t aim to be them you aim to be better than them. Equality is a low bar. Equality keeps you behind. No winning group in America aims to be equal. The Warriors didn’t aim to be equal to Lebron’s 3 man super team, they knew they needed a four man super team with a super bench to beat him. They aimed for dominance not competition.
If you protest for better housing and they build it, you get housing and they get wealthy. If you protest for access to schools you get access, they get leadership roles, then they pivot and create exclusive private schools. When I worked for San Bernardino Schools all the employees there sent their kids to private schools. In Orange County all the smart families send their kids to private schools. Those privates schools then have a direct path to the best universities. Chess, not checkers. If you protest for loans you get predatory loans, you get loans where you pay twice what the home is worth, you create jobs for them with the interest you pay. All of the things people protest for end up just setting them further and further back. Be the change don’t beg for change.
They keep themselves one step ahead when you allow them to dictate how and when they will progress you. When you progress yourself by yourself you dictate the terms.
Think about it like asking someone for a handout or a hand up. Just like the airplane mask, they are going to secure theirs first and if they are able they will help you. You will get left with the crumbs. The culture needs to secure its own mask not sit around waiting for those who have secured their mask to help them secure theirs.
This article isn’t about them, it is about how we stop us from progressing. I get into these debates all the time with people who think they have to do things for us. Or those who are leery of black everything. This blog will discuss two points she made and why they are ridiculous.
Criticism number 1
The critical person stated that they weren’t investing in the fund because they read the SEC filing and came across a statement that said the fund relies heavily on Jay Morrison and that if Jay Morrison is unable to perform that the fund was at risk. The filings also stated that investment returns are not guaranteed.
My issue with this is that Tulsa is basically a hedge fund of sorts and all hedge funds have leaders and managers of which the fund rests on. Whether that fund be Jim Cramer led, Bill Ackman led or Carl Icahn led. This is not uncommon and I guarantee you that the people who invested are aware of this. The truth is that the reason WHY most people felt compelled to invest is because of Jay’s track record. I have learned a ton from his online courses, videos and seen the growth in those associated with him. My investment was a bet that Jay will continue to win as he has shown throughout his life. We bet on them its time we bet on us.
The other issue this person had in regarding guaranteed returns is that a fund must disclaim liability and risk and make other boiler plate disclaimers. Personally, an 8% return isn’t changing my life. My ROI is seeing the progress that 10mm can provide for my community. We give freely with no ROI to the church why not give freely to the community? I have been pro tithing to the community for a while. For me its not about the returns or getting my money back to spend. Its about putting dollars behind my words that we need economic advancement not just social advancement and protest. Every other culture gets this. There are communities that provide interest free loans to their people to build businesses, pay for education, and invest but we wont let a dollar go without an investigation into the ROI. Silly.
What concerns me is that this person didn’t compare the filing to other companies, they read it and hated because that was their objective, to find some reason to crab it out. They needed to pull it down to their level. WHY do we run into an issue that other communities already know exists (funds, securities, investments etc) and call it a scam or a fraud? Because we don’t know anything about how the industry works. At least that person didn’t. My people are destroyed for the lack of knowledge that they run around and act like they have. A lot of misinformation get promoted and spread around and has people taking action on improper facts and conclusions. It is dangerous.
For someone who is new to investing, and based on the butt pics in their profile I presume that this individual was, you can read disclaimers and disclosures as admission of an inability to perform which means you lose all your money. That is the untrained eye. The key is that securities laws REQUIRE these disclaimers and these statements. Every publicly traded company has similar disclaimers. As someone who has worked for two major securities firms, had their series 7 and 66 as well as obtained a JD which includes a class on securities and corporations I (might not have passed the bar but) know a little bit.
My issue is that this untrained individual is now taking their conclusion based on ignorance and spreading it on the internet. That is issue number one. With any investment you have to disclose that the person can lose their money. This protects the manager, otherwise why would they put their skills and ability on the line for someone who wins with them but doesn’t take the losses with them? That is just good business.
Criticism number 3
The third issue is that, why whenever its our own is there distrust and a heightened level of scrutiny? I see this when it comes to black business, I see this when it comes to black film makers, I see this when it comes to black fathers. For some reason we root for our own to fail and then call it “accountability”.
There is nothing that we are doing during this period of black economic advancement that no other culture hasn’t done and isn’t still doing. What we have to do is realize that if one of us wins all of of wins. When OW Gurly created Black Wall St it created opportunities for all those involved. When the Tulsa fund is successful it creates opportunities for all of us. Black lawyers, black developers, black business people, black employees, black families, black ex cons etc etc. We all win during a period of economic advancement. We all win when we advance ourselves. When we push for inclusion, acceptance and diversity only a few tokens get to benefit. This is why I always push for US to change and US to create. When WE do for self we all win. Yes getting them to do the work and integrates us is easier but the payoff for the easy is just more struggle.
If you see the Tulsa fund as just an opportunity for Jay to get rich you are selfish, naive, and you are a burden on the culture. We are the people holding ourselves back and until we get out of our own way we will continue to stay in last place. When you pick apart and look for a reason not to support under the guise of “I jut want to be informed” or “we need to hold people accountable” you are just hiding your hate. We see you. You are a liability to the culture. You kill black business, you kill black families, you kill black progress but its bad because you think you are noble in doing it.
You don’t have to be a perfect black business to create wealth. you don’t have to be a perfect black father to create a legacy. You don’t have to be a perfect fund manager to create wealth but for some reason bystanders see imperfection and shoot down the whole thing then wonder why after 60 years we don’t have anything. This is why we have so many single parent homes, this is why we have no businesses this is why we have no funds. Stop expecting perfection. It doesn’t exist. People who expect perfection never get started. People who expect perfection quit early. People who expect perfection are losers. See the flaws and progress.
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Be great and invest well!