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Nicholas,"},{"speaker":"Alan Smith","startTime":149.66,"endTime":152.24,"body":"yes, I think I'm"},{"speaker":"Alan Smith","startTime":149.66,"endTime":152.24,"body":"sure we've read that before, but"},{"speaker":"Alan Smith","startTime":153.26,"endTime":154.7,"body":"worth reading again. It's so"},{"speaker":"Alan Smith","startTime":153.26,"endTime":154.7,"body":"good,"},{"speaker":"Andy Hart","startTime":155.299,"endTime":157.279,"body":"I don't think we have"},{"speaker":"Andy Hart","startTime":155.299,"endTime":157.279,"body":"but there's a bit, a bit of a"},{"speaker":"Andy Hart","startTime":157.279,"endTime":159.679,"body":"shake up. We used to use a"},{"speaker":"Andy Hart","startTime":157.279,"endTime":159.679,"body":"company called chartable that"},{"speaker":"Andy Hart","startTime":159.679,"endTime":164.019,"body":"have been sunsetted, as in, the"},{"speaker":"Andy Hart","startTime":159.679,"endTime":164.019,"body":"business is no longer active. 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Okay,"},{"speaker":"Nick Lincoln","startTime":204.14,"endTime":206.54,"body":"let's put a topic of time stamp"},{"speaker":"Nick Lincoln","startTime":204.14,"endTime":206.54,"body":"on. Thank you for the review,"},{"speaker":"Nick Lincoln","startTime":206.54,"endTime":209.06,"body":"Keith. And thanks to all the"},{"speaker":"Nick Lincoln","startTime":206.54,"endTime":209.06,"body":"TRAPPIST Sentinel reviews over"},{"speaker":"Nick Lincoln","startTime":209.06,"endTime":211.34,"body":"the last year. We're coming to"},{"speaker":"Nick Lincoln","startTime":209.06,"endTime":211.34,"body":"the end of the year, it's been a"},{"speaker":"Nick Lincoln","startTime":211.34,"endTime":214.46,"body":"great year for trap the reviews"},{"speaker":"Nick Lincoln","startTime":211.34,"endTime":214.46,"body":"are all part of the shot in the"},{"speaker":"Nick Lincoln","startTime":214.46,"endTime":217.4,"body":"arm that keeps us knocking this"},{"speaker":"Nick Lincoln","startTime":214.46,"endTime":217.4,"body":"stuff out for you. So let's put"},{"speaker":"Nick Lincoln","startTime":217.4,"endTime":221.78,"body":"a timestamp on this episode with"},{"speaker":"Nick Lincoln","startTime":217.4,"endTime":221.78,"body":"some topical tidbits. Mr. Haas,"},{"speaker":"Nick Lincoln","startTime":221.9,"endTime":223.06,"body":"exciting announcement,"},{"speaker":"Andy Hart","startTime":223.42,"endTime":227.5,"body":"yes. The first thing"},{"speaker":"Andy Hart","startTime":223.42,"endTime":227.5,"body":"is to reconfirm that trap live"},{"speaker":"Andy Hart","startTime":227.5,"endTime":231.4,"body":"2025 will be on the 14th of May,"},{"speaker":"Andy Hart","startTime":227.5,"endTime":231.4,"body":"Wednesday, the 14th of May at"},{"speaker":"Andy Hart","startTime":231.82,"endTime":234.4,"body":"the Royal College of Physicians."},{"speaker":"Andy Hart","startTime":231.82,"endTime":234.4,"body":"Actually a venue that some of"},{"speaker":"Andy Hart","startTime":234.4,"endTime":238.48,"body":"you may know well, it's where I"},{"speaker":"Andy Hart","startTime":234.4,"endTime":238.48,"body":"host. 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And"},{"speaker":"Andy Hart","startTime":250.8,"endTime":254.16,"body":"I've also agreed a date for"},{"speaker":"Andy Hart","startTime":254.16,"endTime":257.28,"body":"humans under management London,"},{"speaker":"Andy Hart","startTime":254.16,"endTime":257.28,"body":"2025 it's going to be on"},{"speaker":"Andy Hart","startTime":257.28,"endTime":263.0,"body":"Wednesday the 12th of November."},{"speaker":"Andy Hart","startTime":257.28,"endTime":263.0,"body":"2025 I'm asking the TRAPPIST if"},{"speaker":"Andy Hart","startTime":263.0,"endTime":265.34,"body":"they know of any competing"},{"speaker":"Andy Hart","startTime":263.0,"endTime":265.34,"body":"events around that time, because"},{"speaker":"Andy Hart","startTime":265.34,"endTime":269.78,"body":"we don't want conference"},{"speaker":"Andy Hart","startTime":265.34,"endTime":269.78,"body":"clashes. But they are the dates,"},{"speaker":"Andy Hart","startTime":269.84,"endTime":272.9,"body":"key dates for next year, 14th of"},{"speaker":"Andy Hart","startTime":269.84,"endTime":272.9,"body":"May, Wednesday, the 14th of May."},{"speaker":"Andy Hart","startTime":272.9,"endTime":277.04,"body":"Trap live and Wednesday the 12th"},{"speaker":"Andy Hart","startTime":272.9,"endTime":277.04,"body":"of November. Hum, live. Over to"},{"speaker":"Andy Hart","startTime":277.04,"endTime":279.02,"body":"you. Nicholas for some news."},{"speaker":"Unknown","startTime":279.2,"endTime":282.52,"body":"Have you any things to"},{"speaker":"Unknown","startTime":279.2,"endTime":282.52,"body":"promote anything"},{"speaker":"Alan Smith","startTime":283.66,"endTime":286.66,"body":"most just on No, no,"},{"speaker":"Alan Smith","startTime":283.66,"endTime":286.66,"body":"I do that through the normal"},{"speaker":"Alan Smith","startTime":286.66,"endTime":290.56,"body":"channels. I don't you. I don't"},{"speaker":"Alan Smith","startTime":286.66,"endTime":290.56,"body":"abuse this this powerful. My own"},{"speaker":"Alan Smith","startTime":290.56,"endTime":294.7,"body":"private, personal sell your"},{"speaker":"Alan Smith","startTime":290.56,"endTime":294.7,"body":"wares. I know others do against"},{"speaker":"Alan Smith","startTime":295.12,"endTime":297.16,"body":"rules, but okay, you're not"},{"speaker":"Alan Smith","startTime":295.12,"endTime":297.16,"body":"recruiting at"},{"speaker":"Andy Hart","startTime":297.16,"endTime":299.56,"body":"the moment. At you,"},{"speaker":"Andy Hart","startTime":297.16,"endTime":299.56,"body":"Carl, fully respecting"},{"speaker":"Unknown","startTime":299.56,"endTime":300.3,"body":"you. No. Yeah,"},{"speaker":"Nick Lincoln","startTime":303.06,"endTime":305.28,"body":"right. How are you"},{"speaker":"Nick Lincoln","startTime":303.06,"endTime":305.28,"body":"herding cats? Okay, so we've"},{"speaker":"Nick Lincoln","startTime":305.28,"endTime":308.1,"body":"been this last year has been"},{"speaker":"Nick Lincoln","startTime":305.28,"endTime":308.1,"body":"really good for the track pack,"},{"speaker":"Nick Lincoln","startTime":308.1,"endTime":312.18,"body":"and we we use a service called"},{"speaker":"Nick Lincoln","startTime":308.1,"endTime":312.18,"body":"buzz buzz, buzz sprout to"},{"speaker":"Nick Lincoln","startTime":312.18,"endTime":316.38,"body":"propagate our episodes onto all"},{"speaker":"Nick Lincoln","startTime":312.18,"endTime":316.38,"body":"the podcast apps of choice. 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Nick?"},{"speaker":"Andy Hart","startTime":333.38,"endTime":336.44,"body":"Because Birmingham, Manchester,"},{"speaker":"Andy Hart","startTime":333.38,"endTime":336.44,"body":"London, Bristol, they're all"},{"speaker":"Andy Hart","startTime":336.44,"endTime":338.78,"body":"separated out on their own"},{"speaker":"Andy Hart","startTime":336.44,"endTime":338.78,"body":"right, Dublin,"},{"speaker":"Nick Lincoln","startTime":338.78,"endTime":340.46,"body":"slash Leinster."},{"speaker":"Nick Lincoln","startTime":338.78,"endTime":340.46,"body":"Then it's Birmingham, Slack,"},{"speaker":"Nick Lincoln","startTime":340.46,"endTime":343.0,"body":"comma, Birmingham, Manchester,"},{"speaker":"Nick Lincoln","startTime":340.46,"endTime":343.0,"body":"comma, Manchester. That's what"},{"speaker":"Nick Lincoln","startTime":343.0,"endTime":345.58,"body":"threw me. I thought Dublin and"},{"speaker":"Nick Lincoln","startTime":343.0,"endTime":345.58,"body":"Leinster were like two different"},{"speaker":"Alan Smith","startTime":347.14,"endTime":349.66,"body":"places. Surprised"},{"speaker":"Alan Smith","startTime":347.14,"endTime":349.66,"body":"that it's"},{"speaker":"Nick Lincoln","startTime":349.66,"endTime":352.66,"body":"Ireland is"},{"speaker":"Nick Lincoln","startTime":349.66,"endTime":352.66,"body":"geographic. The population is"},{"speaker":"Nick Lincoln","startTime":352.72,"endTime":356.26,"body":"very densely located in Dublin,"},{"speaker":"Nick Lincoln","startTime":352.72,"endTime":356.26,"body":"isn't it? 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What else I"},{"speaker":"Alan Smith","startTime":436.56,"endTime":438.78,"body":"think our biggest"},{"speaker":"Alan Smith","startTime":436.56,"endTime":438.78,"body":"episode last year was the first"},{"speaker":"Alan Smith","startTime":438.84,"endTime":440.76,"body":"SJP. It was JP, if you want"},{"speaker":"Nick Lincoln","startTime":440.76,"endTime":442.98,"body":"to get a boost"},{"speaker":"Nick Lincoln","startTime":440.76,"endTime":442.98,"body":"your podcast, just mention SJP."},{"speaker":"Nick Lincoln","startTime":442.98,"endTime":445.82,"body":"Just mention SJP audience. Do it"},{"speaker":"Nick Lincoln","startTime":442.98,"endTime":445.82,"body":"in a way that's not too"},{"speaker":"Nick Lincoln","startTime":445.82,"endTime":449.6,"body":"negative. Okay, let's get on"},{"speaker":"Nick Lincoln","startTime":445.82,"endTime":449.6,"body":"with the show. And it's me"},{"speaker":"Nick Lincoln","startTime":449.6,"endTime":452.54,"body":"still, so I've got the bloody"},{"speaker":"Nick Lincoln","startTime":449.6,"endTime":452.54,"body":"budget. You can't escape the"},{"speaker":"Nick Lincoln","startTime":452.54,"endTime":455.84,"body":"budget. Can we still? The"},{"speaker":"Nick Lincoln","startTime":452.54,"endTime":455.84,"body":"reverberations are rippling"},{"speaker":"Nick Lincoln","startTime":455.84,"endTime":458.6,"body":"around financial services here,"},{"speaker":"Nick Lincoln","startTime":455.84,"endTime":458.6,"body":"and I think towards green in in"},{"speaker":"Nick Lincoln","startTime":458.6,"endTime":461.66,"body":"your countries, or with your"},{"speaker":"Nick Lincoln","startTime":458.6,"endTime":461.66,"body":"budget car. So there was this"},{"speaker":"Nick Lincoln","startTime":461.66,"endTime":464.26,"body":"thing about taking tax free to"},{"speaker":"Nick Lincoln","startTime":461.66,"endTime":464.26,"body":"the budget, and then if your tax"},{"speaker":"Nick Lincoln","startTime":464.26,"endTime":466.66,"body":"free cash wasn't dicked around"},{"speaker":"Nick Lincoln","startTime":464.26,"endTime":466.66,"body":"with, you could just unwind it"},{"speaker":"Nick Lincoln","startTime":466.78,"endTime":471.04,"body":"and do the 30 day calling notice"},{"speaker":"Nick Lincoln","startTime":466.78,"endTime":471.04,"body":"thing. HMRC, very usefully, put"},{"speaker":"Nick Lincoln","startTime":471.04,"endTime":473.26,"body":"out a newsletter after the"},{"speaker":"Nick Lincoln","startTime":471.04,"endTime":473.26,"body":"budget, saying you can't do"},{"speaker":"Nick Lincoln","startTime":473.26,"endTime":475.3,"body":"that. Why they couldn't do it"},{"speaker":"Nick Lincoln","startTime":473.26,"endTime":475.3,"body":"before the budget? I do not"},{"speaker":"Nick Lincoln","startTime":475.3,"endTime":478.36,"body":"know. They've got one job is to"},{"speaker":"Nick Lincoln","startTime":475.3,"endTime":478.36,"body":"collect taxes, regular how taxes"},{"speaker":"Nick Lincoln","startTime":478.42,"endTime":481.12,"body":"are taken. And they didn't put"},{"speaker":"Nick Lincoln","startTime":478.42,"endTime":481.12,"body":"this newsletter out until after"},{"speaker":"Nick Lincoln","startTime":481.12,"endTime":483.54,"body":"the event, saying you can't do"},{"speaker":"Nick Lincoln","startTime":481.12,"endTime":483.54,"body":"that because do that because"},{"speaker":"Nick Lincoln","startTime":483.54,"endTime":486.18,"body":"taking tax free cash is not a"},{"speaker":"Nick Lincoln","startTime":483.54,"endTime":486.18,"body":"financial transaction. So you"},{"speaker":"Nick Lincoln","startTime":486.18,"endTime":488.52,"body":"had all these advisers now"},{"speaker":"Nick Lincoln","startTime":486.18,"endTime":488.52,"body":"thinking, shit, the tooth paste"},{"speaker":"Nick Lincoln","startTime":488.52,"endTime":491.4,"body":"is out of the tube. You cannot"},{"speaker":"Nick Lincoln","startTime":488.52,"endTime":491.4,"body":"put the tax free cash back into"},{"speaker":"Nick Lincoln","startTime":491.4,"endTime":494.88,"body":"your pension plan. So just a"},{"speaker":"Nick Lincoln","startTime":491.4,"endTime":494.88,"body":"really bad, I think really bad"},{"speaker":"Nick Lincoln","startTime":494.88,"endTime":498.06,"body":"look for the UK yet again. Bad"},{"speaker":"Nick Lincoln","startTime":494.88,"endTime":498.06,"body":"look for the UK institutions."},{"speaker":"Nick Lincoln","startTime":498.06,"endTime":501.08,"body":"Bad look for HMRC. Bad look for"},{"speaker":"Nick Lincoln","startTime":498.06,"endTime":501.08,"body":"those advisors who did this"},{"speaker":"Nick Lincoln","startTime":501.08,"endTime":503.42,"body":"anyway and kind of panic. So we"},{"speaker":"Nick Lincoln","startTime":501.08,"endTime":503.42,"body":"don't change the plans or"},{"speaker":"Nick Lincoln","startTime":503.42,"endTime":506.66,"body":"anything until the actual"},{"speaker":"Nick Lincoln","startTime":503.42,"endTime":506.66,"body":"situation changes. So a bit of a"},{"speaker":"Nick Lincoln","startTime":506.66,"endTime":508.82,"body":"shit show. We didn't get"},{"speaker":"Nick Lincoln","startTime":506.66,"endTime":508.82,"body":"involved in any of this. I know"},{"speaker":"Nick Lincoln","startTime":508.88,"endTime":511.58,"body":"we didn't. Some advisors"},{"speaker":"Nick Lincoln","startTime":508.88,"endTime":511.58,"body":"obviously did, and having very"},{"speaker":"Nick Lincoln","startTime":511.58,"endTime":514.04,"body":"interesting discussions with"},{"speaker":"Nick Lincoln","startTime":511.58,"endTime":514.04,"body":"their pi insurers, I'm sure"},{"speaker":"Alan Smith","startTime":514.34,"endTime":516.62,"body":"some of these. So"},{"speaker":"Alan Smith","startTime":514.34,"endTime":516.62,"body":"some of the pension providers"},{"speaker":"Alan Smith","startTime":516.68,"endTime":518.18,"body":"told them that they could do it."},{"speaker":"Alan Smith","startTime":516.68,"endTime":518.18,"body":"That's"},{"speaker":"Nick Lincoln","startTime":518.18,"endTime":520.3,"body":"right. That's"},{"speaker":"Nick Lincoln","startTime":518.18,"endTime":520.3,"body":"right. This is how bad our tax"},{"speaker":"Nick Lincoln","startTime":520.3,"endTime":522.58,"body":"code is that the pension tech is"},{"speaker":"Nick Lincoln","startTime":520.3,"endTime":522.58,"body":"we all rely on, you know, we've"},{"speaker":"Nick Lincoln","startTime":522.82,"endTime":525.4,"body":"got to, we always lean, don't"},{"speaker":"Nick Lincoln","startTime":522.82,"endTime":525.4,"body":"we? On the platform, tech"},{"speaker":"Nick Lincoln","startTime":525.4,"endTime":528.04,"body":"channel, insurance company, they"},{"speaker":"Nick Lincoln","startTime":525.4,"endTime":528.04,"body":"were saying you could do this."},{"speaker":"Nick Lincoln","startTime":528.04,"endTime":530.26,"body":"And these are the people that"},{"speaker":"Nick Lincoln","startTime":528.04,"endTime":530.26,"body":"are immersed in it, day in, day"},{"speaker":"Nick Lincoln","startTime":530.26,"endTime":533.38,"body":"out. They didn't even understand"},{"speaker":"Nick Lincoln","startTime":530.26,"endTime":533.38,"body":"the UK tax code. This is how bad"},{"speaker":"Nick Lincoln","startTime":533.38,"endTime":537.04,"body":"it's got. So Joe Public, like"},{"speaker":"Nick Lincoln","startTime":533.38,"endTime":537.04,"body":"the layman out there, has not"},{"speaker":"Nick Lincoln","startTime":537.04,"endTime":541.14,"body":"got a bloody hope in hell of"},{"speaker":"Nick Lincoln","startTime":537.04,"endTime":541.14,"body":"complying with if you're self"},{"speaker":"Nick Lincoln","startTime":541.14,"endTime":543.36,"body":"employed, or you're in a"},{"speaker":"Nick Lincoln","startTime":541.14,"endTime":543.36,"body":"business, there's so much now to"},{"speaker":"Nick Lincoln","startTime":543.36,"endTime":546.12,"body":"get you. So I just think it's"},{"speaker":"Nick Lincoln","startTime":543.36,"endTime":546.12,"body":"indictment of our system, and"},{"speaker":"Nick Lincoln","startTime":546.12,"endTime":547.26,"body":"it's just"},{"speaker":"Alan Smith","startTime":547.26,"endTime":550.38,"body":"on that point. Nick,"},{"speaker":"Alan Smith","startTime":547.26,"endTime":550.38,"body":"there was an article in the"},{"speaker":"Alan Smith","startTime":550.38,"endTime":553.2,"body":"Financial Times at the weekend"},{"speaker":"Alan Smith","startTime":550.38,"endTime":553.2,"body":"which was exactly about this,"},{"speaker":"Alan Smith","startTime":553.2,"endTime":556.8,"body":"the complexity pension planning"},{"speaker":"Alan Smith","startTime":553.2,"endTime":556.8,"body":"quoted Yours truly, and they"},{"speaker":"Nick Lincoln","startTime":557.94,"endTime":559.68,"body":"was good. That was"},{"speaker":"Nick Lincoln","startTime":557.94,"endTime":559.68,"body":"a really good quote. It was"},{"speaker":"Nick Lincoln","startTime":559.68,"endTime":560.34,"body":"expensive."},{"speaker":"Alan Smith","startTime":560.82,"endTime":565.64,"body":"No, it was free."},{"speaker":"Alan Smith","startTime":560.82,"endTime":565.64,"body":"Financial journalist, I know"},{"speaker":"Alan Smith","startTime":565.64,"endTime":569.12,"body":"Moira did a great job, but she's"},{"speaker":"Alan Smith","startTime":565.64,"endTime":569.12,"body":"just explained the whole thing,"},{"speaker":"Alan Smith","startTime":569.12,"endTime":572.3,"body":"and she made an interesting"},{"speaker":"Alan Smith","startTime":569.12,"endTime":572.3,"body":"point. I know gets political,"},{"speaker":"Alan Smith","startTime":572.3,"endTime":574.88,"body":"but you know, the powers that be"},{"speaker":"Alan Smith","startTime":572.3,"endTime":574.88,"body":"that make these decisions and"},{"speaker":"Alan Smith","startTime":574.88,"endTime":577.1,"body":"chop and change pension rules"},{"speaker":"Alan Smith","startTime":574.88,"endTime":577.1,"body":"all the time, they basically"},{"speaker":"Alan Smith","startTime":577.1,"endTime":581.98,"body":"they benefit the vast majority"},{"speaker":"Alan Smith","startTime":577.1,"endTime":581.98,"body":"civil servants and MPs from a"},{"speaker":"Alan Smith","startTime":581.98,"endTime":584.38,"body":"gold related final salary"},{"speaker":"Alan Smith","startTime":581.98,"endTime":584.38,"body":"pension scheme that is just"},{"speaker":"Alan Smith","startTime":584.38,"endTime":586.72,"body":"seems to be unchanged,"},{"speaker":"Alan Smith","startTime":584.38,"endTime":586.72,"body":"regardless of anything goes on."},{"speaker":"Alan Smith","startTime":586.72,"endTime":589.06,"body":"So they feel duty bound to"},{"speaker":"Alan Smith","startTime":586.72,"endTime":589.06,"body":"meddle with it, and everyone"},{"speaker":"Alan Smith","startTime":619.0999999999999,"endTime":621.74,"body":"else, and, you know, trying to"},{"speaker":"Alan Smith","startTime":619.0999999999999,"endTime":621.74,"body":"make our job is bad enough."},{"speaker":"Alan Smith","startTime":621.74,"endTime":624.02,"body":"Imagine being, you know, an"},{"speaker":"Alan Smith","startTime":621.74,"endTime":624.02,"body":"investor, a punter, someone"},{"speaker":"Alan Smith","startTime":624.02,"endTime":626.36,"body":"trying to save for their"},{"speaker":"Alan Smith","startTime":624.02,"endTime":626.36,"body":"retirement. As soon as you put"},{"speaker":"Alan Smith","startTime":626.36,"endTime":629.3,"body":"money into something to honor,"},{"speaker":"Alan Smith","startTime":626.36,"endTime":629.3,"body":"we change that rule. And what"},{"speaker":"Alan Smith","startTime":629.3,"endTime":632.74,"body":"does she quote? The rules around"},{"speaker":"Alan Smith","startTime":629.3,"endTime":632.74,"body":"annual allowances is, goes, runs"},{"speaker":"Alan Smith","startTime":632.74,"endTime":637.48,"body":"to, I can't remember 5000 words,"},{"speaker":"Alan Smith","startTime":632.74,"endTime":637.48,"body":"or some huge 50,000 words, or"},{"speaker":"Alan Smith","startTime":637.48,"endTime":640.66,"body":"something, some huge document"},{"speaker":"Alan Smith","startTime":637.48,"endTime":640.66,"body":"that nobody could realistically"},{"speaker":"Alan Smith","startTime":640.7199999999999,"endTime":644.98,"body":"remember. Quote, and, you know,"},{"speaker":"Alan Smith","startTime":640.7199999999999,"endTime":644.98,"body":"complexity just breeds this lack"},{"speaker":"Alan Smith","startTime":644.98,"endTime":649.42,"body":"of trust. And, ah, it's just,"},{"speaker":"Alan Smith","startTime":644.98,"endTime":649.42,"body":"it's hugely annoying. I think,"},{"speaker":"Nick Lincoln","startTime":649.42,"endTime":651.06,"body":"I think if we're"},{"speaker":"Nick Lincoln","startTime":649.42,"endTime":651.06,"body":"done that unless you got"},{"speaker":"Nick Lincoln","startTime":651.06,"endTime":653.4,"body":"something so that leaves now"},{"speaker":"Nick Lincoln","startTime":651.06,"endTime":653.4,"body":"tonight not to watch this point"},{"speaker":"Nick Lincoln","startTime":653.4,"endTime":655.38,"body":"because, because you did a"},{"speaker":"Nick Lincoln","startTime":653.4,"endTime":655.38,"body":"Bucha. You talking about the"},{"speaker":"Nick Lincoln","startTime":655.38,"endTime":657.36,"body":"need for consistent pension. I"},{"speaker":"Carl Widger","startTime":657.36,"endTime":659.76,"body":"just said I'd"},{"speaker":"Carl Widger","startTime":657.36,"endTime":659.76,"body":"follow on kind of from your"},{"speaker":"Carl Widger","startTime":659.76,"endTime":663.36,"body":"point, but just on Alan's point"},{"speaker":"Carl Widger","startTime":659.76,"endTime":663.36,"body":"there. But the FT article, I"},{"speaker":"Carl Widger","startTime":663.36,"endTime":667.8,"body":"loved her sub headline was,"},{"speaker":"Carl Widger","startTime":663.36,"endTime":667.8,"body":"pensions is like trying to nail"},{"speaker":"Carl Widger","startTime":667.8,"endTime":669.0,"body":"jelly to the wall"},{"speaker":"Unknown","startTime":671.52,"endTime":673.16,"body":"that. Yeah, yeah."},{"speaker":"Carl Widger","startTime":673.2199999999999,"endTime":675.86,"body":"So we're in the"},{"speaker":"Carl Widger","startTime":673.2199999999999,"endTime":675.86,"body":"because of the budget changes."},{"speaker":"Carl Widger","startTime":675.86,"endTime":680.48,"body":"We're in the realm at the moment"},{"speaker":"Carl Widger","startTime":675.86,"endTime":680.48,"body":"of maxing out prsa"},{"speaker":"Carl Widger","startTime":680.48,"endTime":685.04,"body":"contributions, because that door"},{"speaker":"Carl Widger","startTime":680.48,"endTime":685.04,"body":"is closing on the 31st of"},{"speaker":"Carl Widger","startTime":685.04,"endTime":689.42,"body":"December. So we're here here too"},{"speaker":"Carl Widger","startTime":685.04,"endTime":689.42,"body":"for financial advisors were"},{"speaker":"Carl Widger","startTime":690.3199999999999,"endTime":693.76,"body":"frequenting watering holes all"},{"speaker":"Carl Widger","startTime":690.3199999999999,"endTime":693.76,"body":"over the place and enjoying"},{"speaker":"Carl Widger","startTime":693.76,"endTime":697.0,"body":"themselves. It is flat to the"},{"speaker":"Carl Widger","startTime":693.76,"endTime":697.0,"body":"mat ALL OVER THE SHOP, because"},{"speaker":"Carl Widger","startTime":697.24,"endTime":700.24,"body":"people are really afraid of, you"},{"speaker":"Carl Widger","startTime":697.24,"endTime":700.24,"body":"know, missing this opportunity"},{"speaker":"Carl Widger","startTime":700.24,"endTime":703.0,"body":"on behalf of their clients. So"},{"speaker":"Carl Widger","startTime":700.24,"endTime":703.0,"body":"it's really, really messy. And"},{"speaker":"Carl Widger","startTime":703.0,"endTime":706.48,"body":"look, I mentioned it before. It"},{"speaker":"Carl Widger","startTime":703.0,"endTime":706.48,"body":"just makes us kind of feel, you"},{"speaker":"Carl Widger","startTime":706.48,"endTime":709.7199999999999,"body":"know, I heard someone saying"},{"speaker":"Carl Widger","startTime":706.48,"endTime":709.7199999999999,"body":"it's like shooting fish in a"},{"speaker":"Carl Widger","startTime":709.7199999999999,"endTime":712.74,"body":"barrel at the moment, and I"},{"speaker":"Carl Widger","startTime":709.7199999999999,"endTime":712.74,"body":"went, Oh my God. Like, this is"},{"speaker":"Carl Widger","startTime":712.98,"endTime":716.4599999999999,"body":"back to that old sales kind of a"},{"speaker":"Carl Widger","startTime":712.98,"endTime":716.4599999999999,"body":"thing. But look, it's just"},{"speaker":"Carl Widger","startTime":717.0,"endTime":719.8199999999999,"body":"exactly what you guys have just"},{"speaker":"Carl Widger","startTime":717.0,"endTime":719.8199999999999,"body":"said. I know that. You know the"},{"speaker":"Carl Widger","startTime":719.8199999999999,"endTime":722.16,"body":"inheritance tax and all that"},{"speaker":"Carl Widger","startTime":719.8199999999999,"endTime":722.16,"body":"stuff that you guys have as"},{"speaker":"Carl Widger","startTime":722.16,"endTime":727.1999999999999,"body":"well. It's, can we just have"},{"speaker":"Carl Widger","startTime":722.16,"endTime":727.1999999999999,"body":"somebody please to give us long"},{"speaker":"Carl Widger","startTime":727.1999999999999,"endTime":730.52,"body":"term pensions legislation so"},{"speaker":"Carl Widger","startTime":727.1999999999999,"endTime":730.52,"body":"that we can plan and let's"},{"speaker":"Carl Widger","startTime":731.0,"endTime":734.54,"body":"decide that we're going to leave"},{"speaker":"Carl Widger","startTime":731.0,"endTime":734.54,"body":"it as it is, and you can kind of"},{"speaker":"Carl Widger","startTime":734.54,"endTime":737.9,"body":"have a 10 year strategy,"},{"speaker":"Carl Widger","startTime":734.54,"endTime":737.9,"body":"because, after all, pensions are"},{"speaker":"Carl Widger","startTime":737.9,"endTime":742.4,"body":"long term, so just give us the"},{"speaker":"Carl Widger","startTime":737.9,"endTime":742.4,"body":"rules and stop bloody making"},{"speaker":"Carl Widger","startTime":742.4,"endTime":745.88,"body":"these fundamental changes. I was"},{"speaker":"Carl Widger","startTime":742.4,"endTime":745.88,"body":"going to tweaks, okay? Yeah,"},{"speaker":"Carl Widger","startTime":745.88,"endTime":746.66,"body":"fundamentally"},{"speaker":"Andy Hart","startTime":747.38,"endTime":750.2199999999999,"body":"keywords there being"},{"speaker":"Andy Hart","startTime":747.38,"endTime":750.2199999999999,"body":"tweaks are okay. We expect that"},{"speaker":"Andy Hart","startTime":750.2199999999999,"endTime":752.74,"body":"they need to be a little bit of"},{"speaker":"Andy Hart","startTime":750.2199999999999,"endTime":752.74,"body":"balancing. But these are"},{"speaker":"Andy Hart","startTime":752.74,"endTime":756.5799999999999,"body":"literally 360 decisions. Yeah,"},{"speaker":"Andy Hart","startTime":752.74,"endTime":756.5799999999999,"body":"it's included. It's not"},{"speaker":"Andy Hart","startTime":756.5799999999999,"endTime":760.18,"body":"included. You can do that. You"},{"speaker":"Andy Hart","startTime":756.5799999999999,"endTime":760.18,"body":"can't do that. Yeah, it's, it's,"},{"speaker":"Andy Hart","startTime":760.36,"endTime":761.1999999999999,"body":"it's, there was, there"},{"speaker":"Alan Smith","startTime":761.199,"endTime":765.519,"body":"was a comment that"},{"speaker":"Alan Smith","startTime":761.199,"endTime":765.519,"body":"other really important aspects"},{"speaker":"Alan Smith","startTime":765.579,"endTime":768.759,"body":"of the economy, like setting of"},{"speaker":"Alan Smith","startTime":765.579,"endTime":768.759,"body":"interest rates, was some years"},{"speaker":"Alan Smith","startTime":768.759,"endTime":771.779,"body":"ago, removed from the"},{"speaker":"Alan Smith","startTime":768.759,"endTime":771.779,"body":"government's remit to a"},{"speaker":"Alan Smith","startTime":771.779,"endTime":774.5989999999999,"body":"theoretically independent body"},{"speaker":"Alan Smith","startTime":771.779,"endTime":774.5989999999999,"body":"called the Bank of England,"},{"speaker":"Alan Smith","startTime":774.5989999999999,"endTime":776.939,"body":"because they that, you know,"},{"speaker":"Alan Smith","startTime":774.5989999999999,"endTime":776.939,"body":"setting interest rates is a very"},{"speaker":"Alan Smith","startTime":776.939,"endTime":780.419,"body":"thing. It's very long term. And"},{"speaker":"Alan Smith","startTime":776.939,"endTime":780.419,"body":"there's a strong case, I think,"},{"speaker":"Alan Smith","startTime":780.419,"endTime":783.539,"body":"for putting pension legislation"},{"speaker":"Alan Smith","startTime":780.419,"endTime":783.539,"body":"in the same independent cross"},{"speaker":"Alan Smith","startTime":783.539,"endTime":786.899,"body":"party. No, definitely, yeah,"},{"speaker":"Alan Smith","startTime":783.539,"endTime":786.899,"body":"structure or body that can think"},{"speaker":"Alan Smith","startTime":786.899,"endTime":790.159,"body":"long term, and it's not a"},{"speaker":"Alan Smith","startTime":786.899,"endTime":790.159,"body":"political vote catcher by or"},{"speaker":"Alan Smith","startTime":790.279,"endTime":792.799,"body":"bought loser by chopping and"},{"speaker":"Alan Smith","startTime":790.279,"endTime":792.799,"body":"changing this whole time. Like"},{"speaker":"Alan Smith","startTime":792.799,"endTime":793.579,"body":"interest rates, as"},{"speaker":"Unknown","startTime":793.759,"endTime":797.179,"body":"I say, yeah, yeah. 100%"},{"speaker":"Unknown","startTime":793.759,"endTime":797.179,"body":"Yeah. Okay, okay. Well, we're"},{"speaker":"Nick Lincoln","startTime":797.18,"endTime":800.54,"body":"all in agreement"},{"speaker":"Nick Lincoln","startTime":797.18,"endTime":800.54,"body":"on that, Okey dokey. Now, I've"},{"speaker":"Nick Lincoln","startTime":800.54,"endTime":803.5999999999999,"body":"got no idea what I tried to read"},{"speaker":"Nick Lincoln","startTime":800.54,"endTime":803.5999999999999,"body":"the article on that. You said I"},{"speaker":"Nick Lincoln","startTime":803.5999999999999,"endTime":806.12,"body":"sent through micro strategy some"},{"speaker":"Nick Lincoln","startTime":803.5999999999999,"endTime":806.12,"body":"some of you talk about it"},{"speaker":"Nick Lincoln","startTime":806.12,"endTime":806.48,"body":"quickly."},{"speaker":"Andy Hart","startTime":806.5999999999999,"endTime":808.76,"body":"Okay, I'll give a"},{"speaker":"Andy Hart","startTime":806.5999999999999,"endTime":808.76,"body":"very high level overview about"},{"speaker":"Andy Hart","startTime":808.76,"endTime":812.14,"body":"this. I'm sure storytellers got"},{"speaker":"Andy Hart","startTime":808.76,"endTime":812.14,"body":"some more insights to add. It's"},{"speaker":"Andy Hart","startTime":812.4399999999999,"endTime":816.04,"body":"been one of the biggest stories"},{"speaker":"Andy Hart","startTime":812.4399999999999,"endTime":816.04,"body":"of the year, Nicholas, so if"},{"speaker":"Andy Hart","startTime":816.04,"endTime":818.56,"body":"it's passed you by, fine,"},{"speaker":"Andy Hart","startTime":816.04,"endTime":818.56,"body":"there's a company called micro"},{"speaker":"Andy Hart","startTime":818.56,"endTime":823.66,"body":"strategy, and they've become so"},{"speaker":"Andy Hart","startTime":818.56,"endTime":823.66,"body":"huge that they're now entering"},{"speaker":"Andy Hart","startTime":823.66,"endTime":829.3,"body":"the NASDAQ 100 it's run by a"},{"speaker":"Andy Hart","startTime":823.66,"endTime":829.3,"body":"charismatic individual, Michael"},{"speaker":"Andy Hart","startTime":829.3,"endTime":834.9,"body":"Saylor. Is it? Storyteller? Long"},{"speaker":"Andy Hart","startTime":829.3,"endTime":834.9,"body":"story short, they own currently,"},{"speaker":"Andy Hart","startTime":835.3199999999999,"endTime":838.4399999999999,"body":"the bulk of their balance sheet"},{"speaker":"Andy Hart","startTime":835.3199999999999,"endTime":838.4399999999999,"body":"is in Bitcoin. I think they own"},{"speaker":"Andy Hart","startTime":838.4399999999999,"endTime":841.92,"body":"about 45 billion of real"},{"speaker":"Andy Hart","startTime":838.4399999999999,"endTime":841.92,"body":"Bitcoin. I say real Bitcoin,"},{"speaker":"Andy Hart","startTime":841.92,"endTime":845.64,"body":"digital Bitcoin, of value of 45"},{"speaker":"Andy Hart","startTime":841.92,"endTime":845.64,"body":"billion. But the company is"},{"speaker":"Andy Hart","startTime":845.64,"endTime":849.0,"body":"worth three to four times that."},{"speaker":"Andy Hart","startTime":845.64,"endTime":849.0,"body":"It's done 500% this year so far."},{"speaker":"Andy Hart","startTime":849.0,"endTime":852.02,"body":"And if you owned it since last"},{"speaker":"Andy Hart","startTime":849.0,"endTime":852.02,"body":"year, done close to 2000 3,000%"},{"speaker":"Andy Hart","startTime":852.8,"endTime":855.14,"body":"it's been absolutely shooting"},{"speaker":"Andy Hart","startTime":852.8,"endTime":855.14,"body":"the lights out. And he's doing"},{"speaker":"Andy Hart","startTime":855.14,"endTime":859.9399999999999,"body":"something which is financial"},{"speaker":"Andy Hart","startTime":855.14,"endTime":859.9399999999999,"body":"alchemy, where he's issuing more"},{"speaker":"Andy Hart","startTime":859.9399999999999,"endTime":862.5799999999999,"body":"shares, buying more Bitcoin."},{"speaker":"Andy Hart","startTime":859.9399999999999,"endTime":862.5799999999999,"body":"Bitcoin going up, issuing more"},{"speaker":"Andy Hart","startTime":862.5799999999999,"endTime":865.28,"body":"shares, buying more Bitcoin. I"},{"speaker":"Andy Hart","startTime":862.5799999999999,"endTime":865.28,"body":"don't quite understand it, but"},{"speaker":"Andy Hart","startTime":865.28,"endTime":867.98,"body":"whenever anything has got"},{"speaker":"Andy Hart","startTime":865.28,"endTime":867.98,"body":"financial alchemy attached to"},{"speaker":"Andy Hart","startTime":867.98,"endTime":870.74,"body":"it, it's alarm bells to me."},{"speaker":"Andy Hart","startTime":867.98,"endTime":870.74,"body":"Something's gonna blow up at"},{"speaker":"Andy Hart","startTime":870.74,"endTime":871.24,"body":"some point. Yep."},{"speaker":"Carl Widger","startTime":873.3389999999999,"endTime":875.679,"body":"What's financial"},{"speaker":"Carl Widger","startTime":873.3389999999999,"endTime":875.679,"body":"alchemy? Sorry, explain. I'll"},{"speaker":"Unknown","startTime":875.68,"endTime":878.3199999999999,"body":"Google it. Carl, Google"},{"speaker":"Unknown","startTime":875.68,"endTime":878.3199999999999,"body":"it. Carl, over to you."},{"speaker":"Unknown","startTime":878.38,"endTime":879.0999999999999,"body":"Storyteller"},{"speaker":"Alan Smith","startTime":883.0,"endTime":886.18,"body":"is this is part of a"},{"speaker":"Alan Smith","startTime":883.0,"endTime":886.18,"body":"bigger conversation. I genuinely"},{"speaker":"Alan Smith","startTime":886.18,"endTime":889.18,"body":"think we should do an episode in"},{"speaker":"Alan Smith","startTime":886.18,"endTime":889.18,"body":"the new year on this whole"},{"speaker":"Alan Smith","startTime":889.18,"endTime":892.56,"body":"thing, on Bitcoin, in"},{"speaker":"Alan Smith","startTime":889.18,"endTime":892.56,"body":"particular, MicroStrategy, and"},{"speaker":"Alan Smith","startTime":892.56,"endTime":897.0,"body":"what they are doing. And I know"},{"speaker":"Alan Smith","startTime":892.56,"endTime":897.0,"body":"that at least two of you on this"},{"speaker":"Alan Smith","startTime":897.0,"endTime":900.12,"body":"podcast will just turn your nose"},{"speaker":"Alan Smith","startTime":897.0,"endTime":900.12,"body":"up at it, but it's it is a it's"},{"speaker":"Alan Smith","startTime":900.12,"endTime":903.3,"body":"something that's on, it's in,"},{"speaker":"Alan Smith","startTime":900.12,"endTime":903.3,"body":"it's in the landscape. People"},{"speaker":"Alan Smith","startTime":903.3,"endTime":906.42,"body":"talk clients talk about it to"},{"speaker":"Alan Smith","startTime":903.3,"endTime":906.42,"body":"say that either I don't know or"},{"speaker":"Alan Smith","startTime":906.42,"endTime":909.78,"body":"it's rubbish or I don't care,"},{"speaker":"Alan Smith","startTime":906.42,"endTime":909.78,"body":"exposes you. Because every now"},{"speaker":"Alan Smith","startTime":909.78,"endTime":913.3399999999999,"body":"and again, new technology comes"},{"speaker":"Alan Smith","startTime":909.78,"endTime":913.3399999999999,"body":"along, new ideas come along, and"},{"speaker":"Alan Smith","startTime":913.3399999999999,"endTime":917.3,"body":"I just think we all need to have"},{"speaker":"Alan Smith","startTime":913.3399999999999,"endTime":917.3,"body":"a very thoughtful conversation"},{"speaker":"Alan Smith","startTime":917.36,"endTime":920.48,"body":"or sort of response to clients,"},{"speaker":"Alan Smith","startTime":917.36,"endTime":920.48,"body":"respective clients, about it."},{"speaker":"Alan Smith","startTime":920.48,"endTime":922.64,"body":"That says that, not that you"},{"speaker":"Alan Smith","startTime":920.48,"endTime":922.64,"body":"just dismissed it with, not"},{"speaker":"Alan Smith","startTime":922.64,"endTime":924.86,"body":"without a thought, but that you"},{"speaker":"Alan Smith","startTime":922.64,"endTime":924.86,"body":"have investigated it, you've"},{"speaker":"Alan Smith","startTime":924.86,"endTime":927.56,"body":"thoroughly reviewed it, you"},{"speaker":"Alan Smith","startTime":924.86,"endTime":927.56,"body":"understand the mechanics, how"},{"speaker":"Andy Hart","startTime":927.92,"endTime":931.78,"body":"an ish thoroughly."},{"speaker":"Andy Hart","startTime":927.92,"endTime":931.78,"body":"Investigated it. I mean, we"},{"speaker":"Andy Hart","startTime":931.78,"endTime":934.3,"body":"thoroughly investigate"},{"speaker":"Andy Hart","startTime":931.78,"endTime":934.3,"body":"everything that's been proposed"},{"speaker":"Andy Hart","startTime":934.3,"endTime":936.28,"body":"out there. You know, you"},{"speaker":"Andy Hart","startTime":934.3,"endTime":936.28,"body":"wouldn't get out of bed in the"},{"speaker":"Andy Hart","startTime":936.28,"endTime":936.88,"body":"morning. Well,"},{"speaker":"Alan Smith","startTime":936.88,"endTime":939.76,"body":"if you, if you, if"},{"speaker":"Alan Smith","startTime":936.88,"endTime":939.76,"body":"you restricted your thorough"},{"speaker":"Alan Smith","startTime":939.76,"endTime":942.64,"body":"investigation to the fastest"},{"speaker":"Alan Smith","startTime":939.76,"endTime":942.64,"body":"growing asset class in history,"},{"speaker":"Alan Smith","startTime":942.8199999999999,"endTime":948.88,"body":"it's not an asset based on,"},{"speaker":"Alan Smith","startTime":942.8199999999999,"endTime":948.88,"body":"based on your definition. Yeah."},{"speaker":"Alan Smith","startTime":948.88,"endTime":951.7199999999999,"body":"So Michael, Michael Michael"},{"speaker":"Alan Smith","startTime":948.88,"endTime":951.7199999999999,"body":"said, as very interesting"},{"speaker":"Alan Smith","startTime":951.7199999999999,"endTime":954.3,"body":"character, he basically has a"},{"speaker":"Alan Smith","startTime":951.7199999999999,"endTime":954.3,"body":"company which is a tech business"},{"speaker":"Alan Smith","startTime":954.3,"endTime":958.1999999999999,"body":"micro strategy that in 2020 he"},{"speaker":"Alan Smith","startTime":954.3,"endTime":958.1999999999999,"body":"was looking at, you know, the"},{"speaker":"Alan Smith","startTime":958.1999999999999,"endTime":963.42,"body":"collapse of interest rates and"},{"speaker":"Alan Smith","startTime":958.1999999999999,"endTime":963.42,"body":"his how he was holding money and"},{"speaker":"Alan Smith","startTime":963.42,"endTime":967.02,"body":"cash in his in his organization,"},{"speaker":"Alan Smith","startTime":963.42,"endTime":967.02,"body":"realized with the debasement of"},{"speaker":"Alan Smith","startTime":967.02,"endTime":969.8399999999999,"body":"currency that we all know about,"},{"speaker":"Alan Smith","startTime":967.02,"endTime":969.8399999999999,"body":"and year after year, we know"},{"speaker":"Alan Smith","startTime":969.8399999999999,"endTime":972.26,"body":"that the pound on your pocket,"},{"speaker":"Alan Smith","startTime":969.8399999999999,"endTime":972.26,"body":"the dollar, the euro in your"},{"speaker":"Alan Smith","startTime":972.26,"endTime":974.42,"body":"pocket, is actually worth less."},{"speaker":"Alan Smith","startTime":972.26,"endTime":974.42,"body":"That's stating the obvious."},{"speaker":"Alan Smith","startTime":974.42,"endTime":978.3199999999999,"body":"Correct? Is there an alternative"},{"speaker":"Alan Smith","startTime":974.42,"endTime":978.3199999999999,"body":"way that you can protect the"},{"speaker":"Alan Smith","startTime":978.3199999999999,"endTime":980.8399999999999,"body":"purchaser, kind of strategic"},{"speaker":"Alan Smith","startTime":978.3199999999999,"endTime":980.8399999999999,"body":"reserve, or your kind of"},{"speaker":"Alan Smith","startTime":980.8399999999999,"endTime":983.8399999999999,"body":"treasury within a company? So he"},{"speaker":"Alan Smith","startTime":980.8399999999999,"endTime":983.8399999999999,"body":"starts dipping his toe into"},{"speaker":"Alan Smith","startTime":983.8399999999999,"endTime":986.48,"body":"Bitcoin, and obviously he's done"},{"speaker":"Alan Smith","startTime":983.8399999999999,"endTime":986.48,"body":"very well for him over the"},{"speaker":"Alan Smith","startTime":986.48,"endTime":989.78,"body":"years, and now he has come up"},{"speaker":"Alan Smith","startTime":986.48,"endTime":989.78,"body":"with a very sophisticated set of"},{"speaker":"Alan Smith","startTime":989.78,"endTime":993.16,"body":"financial engineering. I think"},{"speaker":"Alan Smith","startTime":989.78,"endTime":993.16,"body":"he did mention, if you"},{"speaker":"Alan Smith","startTime":993.16,"endTime":995.98,"body":"understand, and it is quite a"},{"speaker":"Alan Smith","startTime":993.16,"endTime":995.98,"body":"complex, thing, is issues these"},{"speaker":"Alan Smith","startTime":995.98,"endTime":1000.5999999999999,"body":"convertible bonds. So he is, if"},{"speaker":"Alan Smith","startTime":995.98,"endTime":1000.5999999999999,"body":"you know, lots of companies,"},{"speaker":"Alan Smith","startTime":1000.5999999999999,"endTime":1003.9,"body":"lots of people need to hold"},{"speaker":"Alan Smith","startTime":1000.5999999999999,"endTime":1003.9,"body":"bonds. Bonds are designed to be,"},{"speaker":"Alan Smith","startTime":1003.9599999999999,"endTime":1007.86,"body":"you know, secure shouldn't be,"},{"speaker":"Alan Smith","startTime":1003.9599999999999,"endTime":1007.86,"body":"you know, you get first take on"},{"speaker":"Alan Smith","startTime":1007.86,"endTime":1010.8199999999999,"body":"if anything untoward happens."},{"speaker":"Alan Smith","startTime":1007.86,"endTime":1010.8199999999999,"body":"You're ahead of the on the"},{"speaker":"Alan Smith","startTime":1010.8199999999999,"endTime":1014.48,"body":"pecking order, on the structure,"},{"speaker":"Alan Smith","startTime":1010.8199999999999,"endTime":1014.48,"body":"then equity holders, yeah. And"},{"speaker":"Alan Smith","startTime":1015.0799999999999,"endTime":1017.54,"body":"ultimately, he's using that"},{"speaker":"Alan Smith","startTime":1015.0799999999999,"endTime":1017.54,"body":"money to buy more Bitcoin. He"},{"speaker":"Alan Smith","startTime":1017.54,"endTime":1019.6999999999999,"body":"just bought, this is, we're"},{"speaker":"Alan Smith","startTime":1017.54,"endTime":1019.6999999999999,"body":"recording this on Monday, just,"},{"speaker":"Alan Smith","startTime":1019.76,"endTime":1022.04,"body":"just announced today he's bought"},{"speaker":"Alan Smith","startTime":1019.76,"endTime":1022.04,"body":"another, can't remember, 100,000"},{"speaker":"Alan Smith","startTime":1022.64,"endTime":1025.58,"body":"or something, Bitcoin. So, so"},{"speaker":"Alan Smith","startTime":1022.64,"endTime":1025.58,"body":"the point of this is, his"},{"speaker":"Alan Smith","startTime":1025.58,"endTime":1028.7,"body":"company now is effectively a"},{"speaker":"Alan Smith","startTime":1025.58,"endTime":1028.7,"body":"proxy for Bitcoin. There's lots"},{"speaker":"Alan Smith","startTime":1028.7,"endTime":1031.78,"body":"of organizations that can't buy"},{"speaker":"Alan Smith","startTime":1028.7,"endTime":1031.78,"body":"bitcoin, certainly in the UK"},{"speaker":"Alan Smith","startTime":1031.78,"endTime":1035.26,"body":"pension funds, you're not"},{"speaker":"Alan Smith","startTime":1031.78,"endTime":1035.26,"body":"allowed to buy bitcoin. So if"},{"speaker":"Alan Smith","startTime":1035.26,"endTime":1037.9,"body":"you, if you hold some micro"},{"speaker":"Alan Smith","startTime":1035.26,"endTime":1037.9,"body":"strategy, you're effectively"},{"speaker":"Alan Smith","startTime":1037.9,"endTime":1041.98,"body":"getting a leveraged play on"},{"speaker":"Alan Smith","startTime":1037.9,"endTime":1041.98,"body":"ownership of Bitcoin. And I"},{"speaker":"Alan Smith","startTime":1042.1,"endTime":1044.26,"body":"wouldn't be against we, can't"},{"speaker":"Alan Smith","startTime":1042.1,"endTime":1044.26,"body":"we, you know, it's not a"},{"speaker":"Alan Smith","startTime":1044.26,"endTime":1047.14,"body":"regulated product, whether it's"},{"speaker":"Alan Smith","startTime":1044.26,"endTime":1047.14,"body":"an asset class or otherwise, but"},{"speaker":"Alan Smith","startTime":1047.14,"endTime":1050.46,"body":"I wouldn't be against clients"},{"speaker":"Alan Smith","startTime":1047.14,"endTime":1050.46,"body":"wishing to hold 1% of"},{"speaker":"Alan Smith","startTime":1050.46,"endTime":1053.16,"body":"MicroStrategy in a pension"},{"speaker":"Alan Smith","startTime":1050.46,"endTime":1053.16,"body":"portfolio as part of the"},{"speaker":"Alan Smith","startTime":1053.22,"endTime":1056.3999999999999,"body":"investment playpen. There's a"},{"speaker":"Alan Smith","startTime":1053.22,"endTime":1056.3999999999999,"body":"whole other conversation that"},{"speaker":"Alan Smith","startTime":1056.3999999999999,"endTime":1059.82,"body":"I'll keep for another time, but"},{"speaker":"Alan Smith","startTime":1056.3999999999999,"endTime":1059.82,"body":"just modern way of thinking. You"},{"speaker":"Alan Smith","startTime":1059.82,"endTime":1065.46,"body":"know, the 6040, model equity, I"},{"speaker":"Alan Smith","startTime":1059.82,"endTime":1065.46,"body":"think, is out of date, equity"},{"speaker":"Alan Smith","startTime":1065.46,"endTime":1069.06,"body":"bond portfolios. There's a"},{"speaker":"Alan Smith","startTime":1065.46,"endTime":1069.06,"body":"current model which we endorse,"},{"speaker":"Alan Smith","startTime":1069.06,"endTime":1073.1599999999999,"body":"which is 100% equity that's more"},{"speaker":"Alan Smith","startTime":1069.06,"endTime":1073.1599999999999,"body":"the modern thing, and maybe the"},{"speaker":"Alan Smith","startTime":1073.1599999999999,"endTime":1075.44,"body":"next generation. If you're"},{"speaker":"Alan Smith","startTime":1073.1599999999999,"endTime":1075.44,"body":"taking on clients under a"},{"speaker":"Alan Smith","startTime":1075.44,"endTime":1079.46,"body":"certain age, maybe it's 100%"},{"speaker":"Alan Smith","startTime":1075.44,"endTime":1079.46,"body":"global equity with a small"},{"speaker":"Alan Smith","startTime":1079.46,"endTime":1083.54,"body":"allocation to something like"},{"speaker":"Alan Smith","startTime":1079.46,"endTime":1083.54,"body":"MicroStrategy and or Bitcoin as"},{"speaker":"Alan Smith","startTime":1083.54,"endTime":1086.54,"body":"a hedge, if nothing else. But"},{"speaker":"Alan Smith","startTime":1083.54,"endTime":1086.54,"body":"that's what he's doing, and it's"},{"speaker":"Alan Smith","startTime":1086.54,"endTime":1090.1599999999999,"body":"interesting. He's entering the"},{"speaker":"Alan Smith","startTime":1086.54,"endTime":1090.1599999999999,"body":"NASDAQ now, which means on"},{"speaker":"Alan Smith","startTime":1090.1599999999999,"endTime":1093.3999999999999,"body":"december 23 everyone's gonna"},{"speaker":"Alan Smith","startTime":1090.1599999999999,"endTime":1093.3999999999999,"body":"have to buy it. Everyone's gonna"},{"speaker":"Alan Smith","startTime":1093.3999999999999,"endTime":1097.18,"body":"have to buy those index funds."},{"speaker":"Alan Smith","startTime":1093.3999999999999,"endTime":1097.18,"body":"It's an interesting story to see"},{"speaker":"Alan Smith","startTime":1097.78,"endTime":1101.44,"body":"value which is gonna allow into,"},{"speaker":"Alan Smith","startTime":1097.78,"endTime":1101.44,"body":"uh, issue further, their"},{"speaker":"Alan Smith","startTime":1101.44,"endTime":1105.3999999999999,"body":"instruments which would love to"},{"speaker":"Alan Smith","startTime":1101.44,"endTime":1105.3999999999999,"body":"buy more Bitcoin. Is it in some"},{"speaker":"Alan Smith","startTime":1105.3999999999999,"endTime":1108.46,"body":"from the outsider, Nick will say"},{"speaker":"Alan Smith","startTime":1105.3999999999999,"endTime":1108.46,"body":"it's a bit of a fast moving"},{"speaker":"Alan Smith","startTime":1108.46,"endTime":1109.18,"body":"Ponzi scheme."},{"speaker":"Nick Lincoln","startTime":1110.86,"endTime":1115.26,"body":"It reeks off."},{"speaker":"Nick Lincoln","startTime":1110.86,"endTime":1115.26,"body":"Yeah, quite that. But someone"},{"speaker":"Nick Lincoln","startTime":1115.26,"endTime":1116.46,"body":"jumps is unique."},{"speaker":"Alan Smith","startTime":1117.6,"endTime":1120.54,"body":"Well, the minute,"},{"speaker":"Alan Smith","startTime":1117.6,"endTime":1120.54,"body":"the minute if, if, as has been"},{"speaker":"Alan Smith","startTime":1120.54,"endTime":1124.26,"body":"suggested, as Donald Trump has"},{"speaker":"Alan Smith","startTime":1120.54,"endTime":1124.26,"body":"already said, he will do if the"},{"speaker":"Alan Smith","startTime":1124.26,"endTime":1128.7,"body":"US decides to use Bitcoin as a"},{"speaker":"Alan Smith","startTime":1124.26,"endTime":1128.7,"body":"strategic, you know, reserve"},{"speaker":"Alan Smith","startTime":1129.24,"endTime":1132.98,"body":"for, you know for their"},{"speaker":"Alan Smith","startTime":1129.24,"endTime":1132.98,"body":"treasury, that immediately and"},{"speaker":"Alan Smith","startTime":1132.98,"endTime":1135.32,"body":"everything you know, everything"},{"speaker":"Alan Smith","startTime":1132.98,"endTime":1135.32,"body":"changes from that date. And"},{"speaker":"Alan Smith","startTime":1135.32,"endTime":1137.96,"body":"Trump has already suggested that"},{"speaker":"Alan Smith","startTime":1135.32,"endTime":1137.96,"body":"he will do so it. You might"},{"speaker":"Alan Smith","startTime":1137.96,"endTime":1140.42,"body":"argue it's a Ponzi scheme, but"},{"speaker":"Alan Smith","startTime":1137.96,"endTime":1140.42,"body":"so is currency, so is the"},{"speaker":"Alan Smith","startTime":1140.42,"endTime":1143.84,"body":"dollar. So they're all schemes."},{"speaker":"Alan Smith","startTime":1140.42,"endTime":1143.84,"body":"The sailor"},{"speaker":"Andy Hart","startTime":1143.84,"endTime":1146.3,"body":"is convinced, which"},{"speaker":"Andy Hart","startTime":1143.84,"endTime":1146.3,"body":"obviously means a lot or"},{"speaker":"Andy Hart","startTime":1146.3,"endTime":1149.48,"body":"nothing, depends on what's on"},{"speaker":"Andy Hart","startTime":1146.3,"endTime":1149.48,"body":"the fence. Each each individual"},{"speaker":"Andy Hart","startTime":1149.48,"endTime":1153.1599999999999,"body":"Bitcoin will be worth a million"},{"speaker":"Andy Hart","startTime":1149.48,"endTime":1153.1599999999999,"body":"dollars. Obviously, the supply"},{"speaker":"Andy Hart","startTime":1153.1599999999999,"endTime":1156.1599999999999,"body":"constraints, etc, he's been"},{"speaker":"Andy Hart","startTime":1153.1599999999999,"endTime":1156.1599999999999,"body":"banging on the bat for a few"},{"speaker":"Andy Hart","startTime":1156.1599999999999,"endTime":1160.3,"body":"years. So far. It's going his"},{"speaker":"Andy Hart","startTime":1156.1599999999999,"endTime":1160.3,"body":"way. His view"},{"speaker":"Alan Smith","startTime":1160.3,"endTime":1162.8799999999999,"body":"is, it will, he will"},{"speaker":"Alan Smith","startTime":1160.3,"endTime":1162.8799999999999,"body":"$13 million on it, or the next"},{"speaker":"Alan Smith","startTime":1162.8799999999999,"endTime":1167.68,"body":"20 years. But obviously he's"},{"speaker":"Alan Smith","startTime":1162.8799999999999,"endTime":1167.68,"body":"got, he's got a lot of skin in"},{"speaker":"Alan Smith","startTime":1167.68,"endTime":1170.34,"body":"this particular game. And he"},{"speaker":"Alan Smith","startTime":1167.68,"endTime":1170.34,"body":"would say, Yeah, but it has been"},{"speaker":"Alan Smith","startTime":1170.34,"endTime":1174.3,"body":"growing at six compound a year,"},{"speaker":"Alan Smith","startTime":1170.34,"endTime":1174.3,"body":"with a lot of volatility."},{"speaker":"Alan Smith","startTime":1174.78,"endTime":1177.36,"body":"Anyway. Story from the side, it"},{"speaker":"Alan Smith","startTime":1174.78,"endTime":1177.36,"body":"is interesting. Andrew, well"},{"speaker":"Alan Smith","startTime":1177.36,"endTime":1179.3999999999999,"body":"done in terms of topical"},{"speaker":"Alan Smith","startTime":1177.36,"endTime":1179.3999999999999,"body":"tidbits, it is quite"},{"speaker":"Alan Smith","startTime":1179.3999999999999,"endTime":1182.1599999999999,"body":"interesting. And clients, thank"},{"speaker":"Alan Smith","startTime":1179.3999999999999,"endTime":1182.1599999999999,"body":"you. Clients will ask about it"},{"speaker":"Alan Smith","startTime":1182.1599999999999,"endTime":1184.26,"body":"for sure. Thank you. What's"},{"speaker":"Alan Smith","startTime":1182.1599999999999,"endTime":1184.26,"body":"next? Well, the next thing, we"},{"speaker":"Alan Smith","startTime":1184.26,"endTime":1185.28,"body":"just had a sort"},{"speaker":"Nick Lincoln","startTime":1185.28,"endTime":1187.5,"body":"of raft of stupid"},{"speaker":"Nick Lincoln","startTime":1185.28,"endTime":1187.5,"body":"predictions. We're in that kind"},{"speaker":"Nick Lincoln","startTime":1187.5,"endTime":1190.2,"body":"of mode. So do you want to slide"},{"speaker":"Nick Lincoln","startTime":1187.5,"endTime":1190.2,"body":"to my one with Goldman Sachs, or"},{"speaker":"Nick Lincoln","startTime":1190.2,"endTime":1192.6,"body":"do you want to do yours? Because"},{"speaker":"Nick Lincoln","startTime":1190.2,"endTime":1192.6,"body":"you're the bullet point after"},{"speaker":"Nick Lincoln","startTime":1192.6,"endTime":1194.96,"body":"that? Smith, point after that."},{"speaker":"Nick Lincoln","startTime":1192.6,"endTime":1194.96,"body":"Smithy on predictions, and then"},{"speaker":"Nick Lincoln","startTime":1194.96,"endTime":1196.34,"body":"come back to me on Goldman"},{"speaker":"Nick Lincoln","startTime":1194.96,"endTime":1196.34,"body":"Sachs."},{"speaker":"Alan Smith","startTime":1196.76,"endTime":1199.34,"body":"Well, all right, I"},{"speaker":"Alan Smith","startTime":1196.76,"endTime":1199.34,"body":"mean Goldman Sachs do form part"},{"speaker":"Alan Smith","startTime":1199.34,"endTime":1203.84,"body":"of my one I suppose, to an"},{"speaker":"Alan Smith","startTime":1199.34,"endTime":1203.84,"body":"extent I was, you know, we are"},{"speaker":"Alan Smith","startTime":1203.84,"endTime":1207.68,"body":"at the end of the year, and"},{"speaker":"Alan Smith","startTime":1203.84,"endTime":1207.68,"body":"inevitably, insight, we like"},{"speaker":"Alan Smith","startTime":1207.68,"endTime":1213.3999999999999,"body":"this, yeah, inevitably all"},{"speaker":"Alan Smith","startTime":1207.68,"endTime":1213.3999999999999,"body":"across the media are you will"},{"speaker":"Alan Smith","startTime":1213.3999999999999,"endTime":1216.22,"body":"see predictions, predictions"},{"speaker":"Alan Smith","startTime":1213.3999999999999,"endTime":1216.22,"body":"from all sorts of esteemed"},{"speaker":"Alan Smith","startTime":1216.22,"endTime":1218.62,"body":"organizations, experts,"},{"speaker":"Alan Smith","startTime":1216.22,"endTime":1218.62,"body":"economists and what have you."},{"speaker":"Alan Smith","startTime":1218.62,"endTime":1221.02,"body":"And I like to keep track on"},{"speaker":"Alan Smith","startTime":1218.62,"endTime":1221.02,"body":"these things, and I do so every"},{"speaker":"Alan Smith","startTime":1221.02,"endTime":1224.08,"body":"year around this this time. And"},{"speaker":"Alan Smith","startTime":1221.02,"endTime":1224.08,"body":"then you can the great thing"},{"speaker":"Alan Smith","startTime":1224.08,"endTime":1226.54,"body":"about the internet, of course,"},{"speaker":"Alan Smith","startTime":1224.08,"endTime":1226.54,"body":"is you just do a little Google"},{"speaker":"Alan Smith","startTime":1226.54,"endTime":1229.06,"body":"search, and you find out what"},{"speaker":"Alan Smith","startTime":1226.54,"endTime":1229.06,"body":"people were predicting a year"},{"speaker":"Alan Smith","startTime":1229.06,"endTime":1234.24,"body":"ago. So. And let me just share"},{"speaker":"Alan Smith","startTime":1229.06,"endTime":1234.24,"body":"with you what I saw, so that the"},{"speaker":"Alan Smith","startTime":1234.24,"endTime":1238.02,"body":"obvious, the obvious area of"},{"speaker":"Alan Smith","startTime":1234.24,"endTime":1238.02,"body":"prediction is, where will the S,"},{"speaker":"Alan Smith","startTime":1238.08,"endTime":1242.8799999999999,"body":"p5, 100 be by the end of next"},{"speaker":"Alan Smith","startTime":1238.08,"endTime":1242.8799999999999,"body":"year, 2024 Yeah, yeah. So this"},{"speaker":"Alan Smith","startTime":1242.8799999999999,"endTime":1247.74,"body":"time last year, the end of 2023"},{"speaker":"Alan Smith","startTime":1242.8799999999999,"endTime":1247.74,"body":"the the requests were going out,"},{"speaker":"Alan Smith","startTime":1248.22,"endTime":1251.48,"body":"and I mean loads of"},{"speaker":"Alan Smith","startTime":1248.22,"endTime":1251.48,"body":"organizations, but I'll just,"},{"speaker":"Alan Smith","startTime":1251.48,"endTime":1255.8,"body":"I'll just name a few of them."},{"speaker":"Alan Smith","startTime":1251.48,"endTime":1255.8,"body":"JP, Morgan, Morgan Stanley, UBS,"},{"speaker":"Alan Smith","startTime":1255.86,"endTime":1260.42,"body":"wells, Fargo, Goldman, Sachs,"},{"speaker":"Alan Smith","startTime":1255.86,"endTime":1260.42,"body":"Bank of America, Deutsche Bank,"},{"speaker":"Alan Smith","startTime":1261.08,"endTime":1264.1399999999999,"body":"and it was a lot of others. You"},{"speaker":"Alan Smith","startTime":1261.08,"endTime":1264.1399999999999,"body":"can you imagine all those"},{"speaker":"Alan Smith","startTime":1264.1399999999999,"endTime":1269.96,"body":"companies, the sort of armies of"},{"speaker":"Alan Smith","startTime":1264.1399999999999,"endTime":1269.96,"body":"economists and PhDs and experts"},{"speaker":"Alan Smith","startTime":1269.96,"endTime":1274.06,"body":"and just ridiculous amounts of"},{"speaker":"Alan Smith","startTime":1269.96,"endTime":1274.06,"body":"brain power and computing power"},{"speaker":"Alan Smith","startTime":1274.12,"endTime":1280.0,"body":"within that. So this is where"},{"speaker":"Alan Smith","startTime":1274.12,"endTime":1280.0,"body":"they said that the S P would end"},{"speaker":"Alan Smith","startTime":1280.0,"endTime":1283.0,"body":"2024, I won't name them, a few"},{"speaker":"Alan Smith","startTime":1280.0,"endTime":1283.0,"body":"of them. So JP, Morgan said,"},{"speaker":"Alan Smith","startTime":1283.0,"endTime":1289.6,"body":"4200 Morgan Stanley, 4500 UBS,"},{"speaker":"Alan Smith","startTime":1283.0,"endTime":1289.6,"body":"4600 Goldman Sachs, 4700"},{"speaker":"Alan Smith","startTime":1291.1599999999999,"endTime":1295.74,"body":"Deutsche Bank being the most"},{"speaker":"Alan Smith","startTime":1291.1599999999999,"endTime":1295.74,"body":"bullish. 5100 What is it today?"},{"speaker":"Alan Smith","startTime":1295.92,"endTime":1298.5,"body":"It's over 6000 isn't it? S, p5,"},{"speaker":"Alan Smith","startTime":1295.92,"endTime":1298.5,"body":"106,100."},{"speaker":"Unknown","startTime":1299.94,"endTime":1302.52,"body":"Yeah, 6000 years, 6100"},{"speaker":"Unknown","startTime":1299.94,"endTime":1302.52,"body":"something,"},{"speaker":"Alan Smith","startTime":1302.52,"endTime":1305.8799999999999,"body":"something of that"},{"speaker":"Alan Smith","startTime":1302.52,"endTime":1305.8799999999999,"body":"order. So the median across all"},{"speaker":"Alan Smith","startTime":1305.8799999999999,"endTime":1309.6,"body":"these they asked about 30 of"},{"speaker":"Alan Smith","startTime":1305.8799999999999,"endTime":1309.6,"body":"these experts, investment banks,"},{"speaker":"Alan Smith","startTime":1310.02,"endTime":1315.3799999999999,"body":"huge organizations, the median"},{"speaker":"Alan Smith","startTime":1310.02,"endTime":1315.3799999999999,"body":"prediction was 4875 so not"},{"speaker":"Alan Smith","startTime":1315.44,"endTime":1320.3,"body":"remotely close. So I mean, what"},{"speaker":"Alan Smith","startTime":1315.44,"endTime":1320.3,"body":"is the bloody point of these? I"},{"speaker":"Alan Smith","startTime":1320.3,"endTime":1323.18,"body":"know they put them out every"},{"speaker":"Alan Smith","startTime":1320.3,"endTime":1323.18,"body":"year because maybe clients"},{"speaker":"Alan Smith","startTime":1323.18,"endTime":1326.54,"body":"expect it, or people want to do"},{"speaker":"Alan Smith","startTime":1323.18,"endTime":1326.54,"body":"it, but they weren't even close."},{"speaker":"Alan Smith","startTime":1326.6,"endTime":1329.06,"body":"They were out by an order of"},{"speaker":"Alan Smith","startTime":1326.6,"endTime":1329.06,"body":"magnitude in terms of the"},{"speaker":"Alan Smith","startTime":1329.06,"endTime":1331.24,"body":"prediction. What I think often"},{"speaker":"Alan Smith","startTime":1329.06,"endTime":1331.24,"body":"happens, though you've got"},{"speaker":"Alan Smith","startTime":1331.24,"endTime":1336.1599999999999,"body":"recency bias, so we've had a"},{"speaker":"Alan Smith","startTime":1331.24,"endTime":1336.1599999999999,"body":"cracking year for markets in"},{"speaker":"Alan Smith","startTime":1336.1599999999999,"endTime":1340.06,"body":"2024 for the S, P in particular."},{"speaker":"Alan Smith","startTime":1336.1599999999999,"endTime":1340.06,"body":"So probably the predictions are"},{"speaker":"Alan Smith","startTime":1340.06,"endTime":1344.74,"body":"gonna be quite bullish for next"},{"speaker":"Alan Smith","startTime":1340.06,"endTime":1344.74,"body":"year, for 2025 that tends to"},{"speaker":"Alan Smith","startTime":1344.74,"endTime":1347.5,"body":"last 12 months and then predict"},{"speaker":"Alan Smith","startTime":1344.74,"endTime":1347.5,"body":"it before things revert to the"},{"speaker":"Alan Smith","startTime":1347.5,"endTime":1347.68,"body":"mean."},{"speaker":"Nick Lincoln","startTime":1347.68,"endTime":1349.36,"body":"You know, if you"},{"speaker":"Nick Lincoln","startTime":1347.68,"endTime":1349.36,"body":"have a bullish year, really, you"},{"speaker":"Nick Lincoln","startTime":1349.36,"endTime":1352.68,"body":"should be managing expectations"},{"speaker":"Nick Lincoln","startTime":1349.36,"endTime":1352.68,"body":"for if you can deal with this"},{"speaker":"Nick Lincoln","startTime":1352.68,"endTime":1355.26,"body":"short term rubbish, you should"},{"speaker":"Nick Lincoln","startTime":1352.68,"endTime":1355.26,"body":"be managing expectations. But"},{"speaker":"Nick Lincoln","startTime":1355.26,"endTime":1357.42,"body":"they're lower. Yeah, Goldman"},{"speaker":"Nick Lincoln","startTime":1355.26,"endTime":1357.42,"body":"Sachs, and there's a link to it"},{"speaker":"Nick Lincoln","startTime":1357.42,"endTime":1360.36,"body":"in so called show notes. So they"},{"speaker":"Nick Lincoln","startTime":1357.42,"endTime":1360.36,"body":"haven't, I'm sure in that report"},{"speaker":"Nick Lincoln","startTime":1360.42,"endTime":1362.6399999999999,"body":"they predict for the next year"},{"speaker":"Nick Lincoln","startTime":1360.42,"endTime":1362.6399999999999,"body":"as well. But they've actually"},{"speaker":"Nick Lincoln","startTime":1362.6399999999999,"endTime":1365.3999999999999,"body":"done they predict for the next"},{"speaker":"Nick Lincoln","startTime":1362.6399999999999,"endTime":1365.3999999999999,"body":"10 years. What they think the S"},{"speaker":"Nick Lincoln","startTime":1365.3999999999999,"endTime":1370.1599999999999,"body":"P will deliver, 3% per annum,"},{"speaker":"Nick Lincoln","startTime":1365.3999999999999,"endTime":1370.1599999999999,"body":"nominal, before inflation, 1% in"},{"speaker":"Nick Lincoln","startTime":1370.1599999999999,"endTime":1375.44,"body":"real, 1% a year on the S, P for"},{"speaker":"Nick Lincoln","startTime":1370.1599999999999,"endTime":1375.44,"body":"the next decade in real terms."},{"speaker":"Nick Lincoln","startTime":1375.44,"endTime":1379.76,"body":"So that's that's very"},{"speaker":"Nick Lincoln","startTime":1375.44,"endTime":1379.76,"body":"conservative. And I've you know,"},{"speaker":"Nick Lincoln","startTime":1379.76,"endTime":1381.98,"body":"as we all do, I chuck these"},{"speaker":"Nick Lincoln","startTime":1379.76,"endTime":1381.98,"body":"things into Evernote and then"},{"speaker":"Nick Lincoln","startTime":1381.98,"endTime":1384.44,"body":"set an alarm to go off in 10"},{"speaker":"Nick Lincoln","startTime":1381.98,"endTime":1384.44,"body":"years time, so it pops up. Okay,"},{"speaker":"Nick Lincoln","startTime":1384.44,"endTime":1385.76,"body":"let's have a let's have a look"},{"speaker":"Nick Lincoln","startTime":1384.44,"endTime":1385.76,"body":"at this"},{"speaker":"Alan Smith","startTime":1385.76,"endTime":1387.92,"body":"interest into what"},{"speaker":"Alan Smith","startTime":1385.76,"endTime":1387.92,"body":"they're assuming for interest to"},{"speaker":"Alan Smith","startTime":1387.92,"endTime":1390.82,"body":"work out their real rate. I'm"},{"speaker":"Alan Smith","startTime":1387.92,"endTime":1390.82,"body":"sorry for inflation, exactly."},{"speaker":"Alan Smith","startTime":1390.82,"endTime":1391.6,"body":"Well, 2% I'm"},{"speaker":"Nick Lincoln","startTime":1391.6,"endTime":1394.36,"body":"guessing it was 3%"},{"speaker":"Nick Lincoln","startTime":1391.6,"endTime":1394.36,"body":"nominal, 1% real, three minus,"},{"speaker":"Alan Smith","startTime":1394.36,"endTime":1396.3999999999999,"body":"they're assuming 2%"},{"speaker":"Alan Smith","startTime":1394.36,"endTime":1396.3999999999999,"body":"inflation. Yeah, yeah, good."},{"speaker":"Alan Smith","startTime":1396.3999999999999,"endTime":1398.44,"body":"Good luck with that if they"},{"speaker":"Alan Smith","startTime":1396.3999999999999,"endTime":1398.44,"body":"assume that's going to be the"},{"speaker":"Alan Smith","startTime":1398.44,"endTime":1400.72,"body":"next 10 years with, well, yeah,"},{"speaker":"Alan Smith","startTime":1398.44,"endTime":1400.72,"body":"things are going Yeah, but the"},{"speaker":"Alan Smith","startTime":1400.72,"endTime":1401.8,"body":"US doesn't. It's always had"},{"speaker":"Nick Lincoln","startTime":1401.8,"endTime":1403.78,"body":"lower, slightly"},{"speaker":"Nick Lincoln","startTime":1401.8,"endTime":1403.78,"body":"low inflation than us hasn't it"},{"speaker":"Nick Lincoln","startTime":1403.78,"endTime":1406.36,"body":"for because it's not such a it's"},{"speaker":"Nick Lincoln","startTime":1403.78,"endTime":1406.36,"body":"not so reliant on imports, so"},{"speaker":"Nick Lincoln","startTime":1406.36,"endTime":1407.68,"body":"forth. So I think 2% does"},{"speaker":"Alan Smith","startTime":1407.68,"endTime":1409.36,"body":"make you think it"},{"speaker":"Alan Smith","startTime":1407.68,"endTime":1409.36,"body":"doesn't make you think that"},{"speaker":"Alan Smith","startTime":1409.36,"endTime":1412.92,"body":"doesn't it. If it's 1% real rate"},{"speaker":"Alan Smith","startTime":1409.36,"endTime":1412.92,"body":"that's before, like for our"},{"speaker":"Alan Smith","startTime":1412.92,"endTime":1418.32,"body":"clients, before tax and charges."},{"speaker":"Alan Smith","startTime":1412.92,"endTime":1418.32,"body":"Yeah, so the average client"},{"speaker":"Alan Smith","startTime":1418.32,"endTime":1421.68,"body":"who's invested 100% if Goldman's"},{"speaker":"Alan Smith","startTime":1418.32,"endTime":1421.68,"body":"are right and they're wrong and"},{"speaker":"Alan Smith","startTime":1421.68,"endTime":1425.34,"body":"everything else, but they invest"},{"speaker":"Alan Smith","startTime":1421.68,"endTime":1425.34,"body":"100% in the s, p, which would be"},{"speaker":"Alan Smith","startTime":1425.34,"endTime":1428.34,"body":"considered to be a very bullish,"},{"speaker":"Alan Smith","startTime":1425.34,"endTime":1428.34,"body":"aggressive investment portfolio,"},{"speaker":"Alan Smith","startTime":1428.7,"endTime":1432.1399999999999,"body":"net of tax and costs, they are"},{"speaker":"Alan Smith","startTime":1428.7,"endTime":1432.1399999999999,"body":"going to lose money in real"},{"speaker":"Alan Smith","startTime":1432.1399999999999,"endTime":1436.1599999999999,"body":"terms. Now, tell me about the"},{"speaker":"Alan Smith","startTime":1432.1399999999999,"endTime":1436.1599999999999,"body":"6040, portfolio clients, or even"},{"speaker":"Alan Smith","startTime":1436.1599999999999,"endTime":1439.76,"body":"less, where they're going. They"},{"speaker":"Alan Smith","startTime":1436.1599999999999,"endTime":1439.76,"body":"are materially going backwards"},{"speaker":"Alan Smith","startTime":1439.76,"endTime":1444.1399999999999,"body":"in real terms, net of the"},{"speaker":"Alan Smith","startTime":1439.76,"endTime":1444.1399999999999,"body":"aforementioned. Interesting,"},{"speaker":"Alan Smith","startTime":1444.92,"endTime":1445.7,"body":"don't"},{"speaker":"Carl Widger","startTime":1445.7,"endTime":1449.42,"body":"know about that,"},{"speaker":"Carl Widger","startTime":1445.7,"endTime":1449.42,"body":"right? Don't know if your"},{"speaker":"Carl Widger","startTime":1449.42,"endTime":1452.8,"body":"deduction from the Goldman Sachs"},{"speaker":"Carl Widger","startTime":1449.42,"endTime":1452.8,"body":"Prediction number one, I think"},{"speaker":"Carl Widger","startTime":1452.98,"endTime":1455.98,"body":"the Goldman Sachs prediction is"},{"speaker":"Carl Widger","startTime":1452.98,"endTime":1455.98,"body":"going to be absolutely"},{"speaker":"Carl Widger","startTime":1455.98,"endTime":1461.32,"body":"incorrect, but the attacking of"},{"speaker":"Carl Widger","startTime":1455.98,"endTime":1461.32,"body":"the 6040 portfolio, I think, is"},{"speaker":"Carl Widger","startTime":1461.3799999999999,"endTime":1465.58,"body":"unfounded, and I think for sure,"},{"speaker":"Carl Widger","startTime":1461.3799999999999,"endTime":1465.58,"body":"there's still a home for 6040"},{"speaker":"Carl Widger","startTime":1465.8799999999999,"endTime":1468.46,"body":"portfolios. I think this is"},{"speaker":"Carl Widger","startTime":1465.8799999999999,"endTime":1468.46,"body":"probably a much bigger"},{"speaker":"Carl Widger","startTime":1468.46,"endTime":1472.44,"body":"discussion that we should"},{"speaker":"Carl Widger","startTime":1468.46,"endTime":1472.44,"body":"definitely revisit early in the"},{"speaker":"Carl Widger","startTime":1472.44,"endTime":1472.98,"body":"new year,"},{"speaker":"Alan Smith","startTime":1473.8799999999999,"endTime":1476.1599999999999,"body":"but it's just, it's,"},{"speaker":"Alan Smith","startTime":1473.8799999999999,"endTime":1476.1599999999999,"body":"this is just one thing follows"},{"speaker":"Alan Smith","startTime":1476.1599999999999,"endTime":1478.8,"body":"the other. If you assume that"},{"speaker":"Alan Smith","startTime":1476.1599999999999,"endTime":1478.8,"body":"bonds will perform less than"},{"speaker":"Alan Smith","startTime":1478.8,"endTime":1483.12,"body":"something like S p5 100 of the"},{"speaker":"Alan Smith","startTime":1478.8,"endTime":1483.12,"body":"next 10 years, but I think, I"},{"speaker":"Alan Smith","startTime":1483.12,"endTime":1485.3999999999999,"body":"think by definition, it has to"},{"speaker":"Alan Smith","startTime":1483.12,"endTime":1485.3999999999999,"body":"be less than 1%"},{"speaker":"Carl Widger","startTime":1485.76,"endTime":1488.04,"body":"real rare. But I"},{"speaker":"Carl Widger","startTime":1485.76,"endTime":1488.04,"body":"think you're making, you're"},{"speaker":"Carl Widger","startTime":1488.04,"endTime":1491.3,"body":"making assumptions there that"},{"speaker":"Carl Widger","startTime":1488.04,"endTime":1491.3,"body":"that they're they're making a"},{"speaker":"Carl Widger","startTime":1491.3,"endTime":1494.84,"body":"prediction that there's going to"},{"speaker":"Carl Widger","startTime":1491.3,"endTime":1494.84,"body":"be a massive change as to what"},{"speaker":"Carl Widger","startTime":1494.84,"endTime":1499.6399999999999,"body":"has happened in the in history,"},{"speaker":"Carl Widger","startTime":1494.84,"endTime":1499.6399999999999,"body":"right? So that, you know stock"},{"speaker":"Carl Widger","startTime":1499.6399999999999,"endTime":1504.62,"body":"markets aren't going to go up by"},{"speaker":"Carl Widger","startTime":1499.6399999999999,"endTime":1504.62,"body":"their what we have seen as norm."},{"speaker":"Carl Widger","startTime":1504.92,"endTime":1508.46,"body":"So that the the follow on from"},{"speaker":"Carl Widger","startTime":1504.92,"endTime":1508.46,"body":"that doesn't necessarily mean"},{"speaker":"Carl Widger","startTime":1508.46,"endTime":1512.8,"body":"that bonds are going to produce"},{"speaker":"Carl Widger","startTime":1508.46,"endTime":1512.8,"body":"a negative result, it might mean"},{"speaker":"Carl Widger","startTime":1512.8,"endTime":1516.58,"body":"that more money will go towards"},{"speaker":"Carl Widger","startTime":1512.8,"endTime":1516.58,"body":"bonds. So I would say another"},{"speaker":"Carl Widger","startTime":1516.58,"endTime":1521.62,"body":"way of putting this point is,"},{"speaker":"Carl Widger","startTime":1516.58,"endTime":1521.62,"body":"well, what do Goldman Sachs say"},{"speaker":"Carl Widger","startTime":1521.8,"endTime":1524.98,"body":"that clients should invest in,"},{"speaker":"Carl Widger","startTime":1521.8,"endTime":1524.98,"body":"because, for all the reasons you"},{"speaker":"Carl Widger","startTime":1524.98,"endTime":1528.46,"body":"pointed out, well, then equities"},{"speaker":"Carl Widger","startTime":1524.98,"endTime":1528.46,"body":"is not the place to be in"},{"speaker":"Carl Widger","startTime":1528.52,"endTime":1532.2,"body":"Goldman Sachs, so where? Should"},{"speaker":"Carl Widger","startTime":1528.52,"endTime":1532.2,"body":"your clients invest the money"},{"speaker":"Carl Widger","startTime":1532.2,"endTime":1533.22,"body":"you are well, department"},{"speaker":"Andy Hart","startTime":1533.3999999999999,"endTime":1536.28,"body":"what individual you"},{"speaker":"Andy Hart","startTime":1533.3999999999999,"endTime":1536.28,"body":"ask Goldman Sachs over structure"},{"speaker":"Andy Hart","startTime":1536.28,"endTime":1536.76,"body":"products"},{"speaker":"Carl Widger","startTime":1539.28,"endTime":1542.28,"body":"and private equity"},{"speaker":"Carl Widger","startTime":1539.28,"endTime":1542.28,"body":"and Bitcoin and all that kind of"},{"speaker":"Carl Widger","startTime":1542.28,"endTime":1546.0,"body":"stuff. So, like, I don't know,"},{"speaker":"Carl Widger","startTime":1542.28,"endTime":1546.0,"body":"it opens a whole different"},{"speaker":"Carl Widger","startTime":1546.0,"endTime":1551.12,"body":"kimono of of you know what, what"},{"speaker":"Carl Widger","startTime":1546.0,"endTime":1551.12,"body":"the new world looks like, invest"},{"speaker":"Carl Widger","startTime":1551.12,"endTime":1555.08,"body":"in what has always worked, sure,"},{"speaker":"Carl Widger","startTime":1551.12,"endTime":1555.08,"body":"but I mean the 1614, portfolio"},{"speaker":"Alan Smith","startTime":1555.3799999999999,"endTime":1558.3799999999999,"body":"markets do move into"},{"speaker":"Alan Smith","startTime":1555.3799999999999,"endTime":1558.3799999999999,"body":"cycles. Markets move in cycles."},{"speaker":"Alan Smith","startTime":1558.3799999999999,"endTime":1561.2,"body":"Cycles have been elongated over"},{"speaker":"Alan Smith","startTime":1558.3799999999999,"endTime":1561.2,"body":"the last decade or so,"},{"speaker":"Alan Smith","startTime":1561.2,"endTime":1565.34,"body":"certainly, post financial crash,"},{"speaker":"Alan Smith","startTime":1561.2,"endTime":1565.34,"body":"Nick hits the right point, which"},{"speaker":"Alan Smith","startTime":1565.3999999999999,"endTime":1568.8799999999999,"body":"is that there is always, let's"},{"speaker":"Alan Smith","startTime":1565.3999999999999,"endTime":1568.8799999999999,"body":"say, over a century, a long term"},{"speaker":"Alan Smith","startTime":1568.8799999999999,"endTime":1574.78,"body":"reversion to mean equities do"},{"speaker":"Alan Smith","startTime":1568.8799999999999,"endTime":1574.78,"body":"about 10% real. Oh, really,"},{"speaker":"Alan Smith","startTime":1574.8999999999999,"endTime":1583.54,"body":"yeah, not real, nominal, 10, 11%"},{"speaker":"Alan Smith","startTime":1574.8999999999999,"endTime":1583.54,"body":"and bonds do about 3% less than"},{"speaker":"Alan Smith","startTime":1583.54,"endTime":1587.62,"body":"that over the time. So and we"},{"speaker":"Alan Smith","startTime":1583.54,"endTime":1587.62,"body":"have had an extraordinary decade"},{"speaker":"Alan Smith","startTime":1587.8,"endTime":1592.5,"body":"more 15 years, maybe for global"},{"speaker":"Alan Smith","startTime":1587.8,"endTime":1592.5,"body":"equities, US equities in"},{"speaker":"Alan Smith","startTime":1592.5,"endTime":1595.26,"body":"particular. So you know, it's"},{"speaker":"Alan Smith","startTime":1592.5,"endTime":1595.26,"body":"not completely out of the"},{"speaker":"Alan Smith","startTime":1595.26,"endTime":1598.98,"body":"question that for the next 10"},{"speaker":"Alan Smith","startTime":1595.26,"endTime":1598.98,"body":"years, as this prediction"},{"speaker":"Alan Smith","startTime":1599.28,"endTime":1603.0,"body":"relates to are a bit lower than"},{"speaker":"Alan Smith","startTime":1599.28,"endTime":1603.0,"body":"last 10 years or last 20 years."},{"speaker":"Alan Smith","startTime":1603.06,"endTime":1603.72,"body":"Nick, well, there's"},{"speaker":"Carl Widger","startTime":1603.72,"endTime":1605.94,"body":"a bit lower, sorry."},{"speaker":"Carl Widger","startTime":1603.72,"endTime":1605.94,"body":"Nick, just before there's a bit"},{"speaker":"Carl Widger","startTime":1605.94,"endTime":1609.72,"body":"lower, and there's like, this is"},{"speaker":"Carl Widger","startTime":1605.94,"endTime":1609.72,"body":"no longer makes sense, so sorry."},{"speaker":"Carl Widger","startTime":1609.72,"endTime":1610.02,"body":"Nick,"},{"speaker":"Nick Lincoln","startTime":1610.2,"endTime":1612.32,"body":"that's fine. I"},{"speaker":"Nick Lincoln","startTime":1610.2,"endTime":1612.32,"body":"think we all remember. It was"},{"speaker":"Nick Lincoln","startTime":1612.32,"endTime":1615.1399999999999,"body":"about 1012, years ago. We had"},{"speaker":"Nick Lincoln","startTime":1612.32,"endTime":1615.1399999999999,"body":"all these papers coming out from"},{"speaker":"Nick Lincoln","startTime":1615.2,"endTime":1617.72,"body":"the regulator and others say"},{"speaker":"Nick Lincoln","startTime":1615.2,"endTime":1617.72,"body":"future returns are going to be"},{"speaker":"Nick Lincoln","startTime":1617.72,"endTime":1621.8,"body":"lower. Absolutely wrong. And I"},{"speaker":"Nick Lincoln","startTime":1617.72,"endTime":1621.8,"body":"did read a blog, and so I can't"},{"speaker":"Nick Lincoln","startTime":1621.8,"endTime":1624.32,"body":"credit it, and I haven't got the"},{"speaker":"Nick Lincoln","startTime":1621.8,"endTime":1624.32,"body":"link to it here. I'll try and"},{"speaker":"Nick Lincoln","startTime":1624.32,"endTime":1626.6599999999999,"body":"find it in the so called Sharon,"},{"speaker":"Nick Lincoln","startTime":1624.32,"endTime":1626.6599999999999,"body":"a guy who was kind of"},{"speaker":"Nick Lincoln","startTime":1626.6599999999999,"endTime":1629.12,"body":"eviscerating this time of year"},{"speaker":"Nick Lincoln","startTime":1626.6599999999999,"endTime":1629.12,"body":"in the predictions. He said"},{"speaker":"Nick Lincoln","startTime":1629.12,"endTime":1631.6599999999999,"body":"every, every one of these"},{"speaker":"Nick Lincoln","startTime":1629.12,"endTime":1631.6599999999999,"body":"predictions have the same core"},{"speaker":"Nick Lincoln","startTime":1631.6599999999999,"endTime":1634.42,"body":"tenants. Future returns are"},{"speaker":"Nick Lincoln","startTime":1631.6599999999999,"endTime":1634.42,"body":"going to be lower. We're"},{"speaker":"Nick Lincoln","startTime":1634.42,"endTime":1638.26,"body":"experiencing higher volatility."},{"speaker":"Nick Lincoln","startTime":1634.42,"endTime":1638.26,"body":"It's a pickup market."},{"speaker":"Alan Smith","startTime":1639.34,"endTime":1642.52,"body":"Yeah, yeah. The one"},{"speaker":"Alan Smith","startTime":1639.34,"endTime":1642.52,"body":"thing, the one thing, and we do"},{"speaker":"Alan Smith","startTime":1642.52,"endTime":1646.0,"body":"have to recognize what you kind"},{"speaker":"Alan Smith","startTime":1642.52,"endTime":1646.0,"body":"of the broader economy, what was"},{"speaker":"Alan Smith","startTime":1646.0,"endTime":1650.34,"body":"going on we have never had in"},{"speaker":"Alan Smith","startTime":1646.0,"endTime":1650.34,"body":"the history of money, the level"},{"speaker":"Alan Smith","startTime":1650.34,"endTime":1652.98,"body":"of unprecedented money printing,"},{"speaker":"Alan Smith","startTime":1650.34,"endTime":1652.98,"body":"printing, yeah, correct, yeah,"},{"speaker":"Alan Smith","startTime":1652.98,"endTime":1656.1,"body":"correct, which is just just"},{"speaker":"Alan Smith","startTime":1652.98,"endTime":1656.1,"body":"dumped on the markets. And so"},{"speaker":"Alan Smith","startTime":1656.1,"endTime":1658.92,"body":"people had to invest, and"},{"speaker":"Alan Smith","startTime":1656.1,"endTime":1658.92,"body":"organizations and corporates had"},{"speaker":"Alan Smith","startTime":1658.92,"endTime":1661.2,"body":"to invest. There was no other"},{"speaker":"Alan Smith","startTime":1658.92,"endTime":1661.2,"body":"way doing it. It's just really"},{"speaker":"Alan Smith","startTime":1661.2,"endTime":1663.6599999999999,"body":"the campaign of it through"},{"speaker":"Alan Smith","startTime":1661.2,"endTime":1663.6599999999999,"body":"inflation right now and probably"},{"speaker":"Alan Smith","startTime":1663.6599999999999,"endTime":1666.54,"body":"the debasement of our"},{"speaker":"Alan Smith","startTime":1663.6599999999999,"endTime":1666.54,"body":"currencies. So equities is the"},{"speaker":"Alan Smith","startTime":1666.54,"endTime":1670.08,"body":"only place to be, if there was"},{"speaker":"Alan Smith","startTime":1666.54,"endTime":1670.08,"body":"ever any doubt, equities are the"},{"speaker":"Alan Smith","startTime":1670.08,"endTime":1673.94,"body":"only place to be realistically"},{"speaker":"Alan Smith","startTime":1670.08,"endTime":1673.94,"body":"of legit assets, with 100 year"},{"speaker":"Alan Smith","startTime":1673.94,"endTime":1679.04,"body":"track record companies, I can't"},{"speaker":"Alan Smith","startTime":1673.94,"endTime":1679.04,"body":"see the level of, you know,"},{"speaker":"Alan Smith","startTime":1679.1599999999999,"endTime":1681.68,"body":"well, there will still,"},{"speaker":"Alan Smith","startTime":1679.1599999999999,"endTime":1681.68,"body":"governments around the world"},{"speaker":"Alan Smith","startTime":1681.68,"endTime":1684.56,"body":"will still, you know, have the"},{"speaker":"Alan Smith","startTime":1681.68,"endTime":1684.56,"body":"printing presses cranking out,"},{"speaker":"Alan Smith","startTime":1684.56,"endTime":1686.8999999999999,"body":"but I don't think to the same"},{"speaker":"Alan Smith","startTime":1684.56,"endTime":1686.8999999999999,"body":"extent they hit they did from"},{"speaker":"Alan Smith","startTime":1686.8999999999999,"endTime":1691.48,"body":"COVID. There was unprecedented."},{"speaker":"Alan Smith","startTime":1686.8999999999999,"endTime":1691.48,"body":"They just the just the impacts."},{"speaker":"Alan Smith","startTime":1691.48,"endTime":1694.0,"body":"Well, it does to an economy."},{"speaker":"Alan Smith","startTime":1691.48,"endTime":1694.0,"body":"It's great in the short term. We"},{"speaker":"Alan Smith","startTime":1694.0,"endTime":1698.26,"body":"loved it. Marcus, boom. But time"},{"speaker":"Alan Smith","startTime":1694.0,"endTime":1698.26,"body":"will tell my friends, time will"},{"speaker":"Alan Smith","startTime":1698.26,"endTime":1699.1599999999999,"body":"tell good. I'm"},{"speaker":"Nick Lincoln","startTime":1699.34,"endTime":1701.56,"body":"just distracted."},{"speaker":"Nick Lincoln","startTime":1699.34,"endTime":1701.56,"body":"Penny's cat is outside being"},{"speaker":"Nick Lincoln","startTime":1701.56,"endTime":1704.32,"body":"aiming to be let back in, but"},{"speaker":"Nick Lincoln","startTime":1701.56,"endTime":1704.32,"body":"she's been vomiting inside the"},{"speaker":"Nick Lincoln","startTime":1704.32,"endTime":1706.6,"body":"house today. She goes outside"},{"speaker":"Nick Lincoln","startTime":1704.32,"endTime":1706.6,"body":"and eats grass and then uses"},{"speaker":"Nick Lincoln","startTime":1706.6,"endTime":1709.0,"body":"that to clean her gut. She"},{"speaker":"Nick Lincoln","startTime":1706.6,"endTime":1709.0,"body":"throws it up all right, so I've"},{"speaker":"Nick Lincoln","startTime":1709.0,"endTime":1711.6,"body":"just chucked her outside and cow"},{"speaker":"Nick Lincoln","startTime":1709.0,"endTime":1711.6,"body":"flaps. So Penny, if you're"},{"speaker":"Nick Lincoln","startTime":1711.6,"endTime":1714.72,"body":"watching this, I'm sorry, my"},{"speaker":"Nick Lincoln","startTime":1711.6,"endTime":1714.72,"body":"love, but I just cannot take it"},{"speaker":"Nick Lincoln","startTime":1714.72,"endTime":1718.62,"body":"anymore, right? Okay, another"},{"speaker":"Nick Lincoln","startTime":1714.72,"endTime":1718.62,"body":"fire or another fire? Thing,"},{"speaker":"Nick Lincoln","startTime":1718.68,"endTime":1721.56,"body":"financial independence. What are"},{"speaker":"Nick Lincoln","startTime":1718.68,"endTime":1721.56,"body":"the last two? What's the Arnie?"},{"speaker":"Nick Lincoln","startTime":1721.56,"endTime":1727.02,"body":"Stand for ultra? That's right,"},{"speaker":"Nick Lincoln","startTime":1721.56,"endTime":1727.02,"body":"Ultra. Leading question, a money"},{"speaker":"Nick Lincoln","startTime":1727.02,"endTime":1729.18,"body":"beta. Blow it up, the money"},{"speaker":"Nick Lincoln","startTime":1727.02,"endTime":1729.18,"body":"later, one of the, one of the"},{"speaker":"Nick Lincoln","startTime":1729.18,"endTime":1732.32,"body":"very good, UK based aggregators"},{"speaker":"Nick Lincoln","startTime":1729.18,"endTime":1732.32,"body":"of financial stories. And"},{"speaker":"Nick Lincoln","startTime":1732.32,"endTime":1735.2,"body":"there's a long guest piece in"},{"speaker":"Nick Lincoln","startTime":1732.32,"endTime":1735.2,"body":"there on the fire movement and"},{"speaker":"Nick Lincoln","startTime":1735.2,"endTime":1738.3799999999999,"body":"how perhaps it's not for in all,"},{"speaker":"Nick Lincoln","startTime":1735.2,"endTime":1738.3799999999999,"body":"in all cases, quite what it"},{"speaker":"Nick Lincoln","startTime":1738.3799999999999,"endTime":1741.68,"body":"should be. It's a very long"},{"speaker":"Nick Lincoln","startTime":1738.3799999999999,"endTime":1741.68,"body":"piece. The link to it in the"},{"speaker":"Nick Lincoln","startTime":1741.68,"endTime":1744.3799999999999,"body":"show, let's read it. But the"},{"speaker":"Nick Lincoln","startTime":1741.68,"endTime":1744.3799999999999,"body":"comments these people are very,"},{"speaker":"Nick Lincoln","startTime":1744.3799999999999,"endTime":1747.32,"body":"very brittle this fire movement,"},{"speaker":"Nick Lincoln","startTime":1744.3799999999999,"endTime":1747.32,"body":"my God, if you criticize them,"},{"speaker":"Nick Lincoln","startTime":1747.32,"endTime":1750.2,"body":"they just jump straight in with"},{"speaker":"Nick Lincoln","startTime":1747.32,"endTime":1750.2,"body":"both feet. I know Colin"},{"speaker":"Alan Smith","startTime":1752.72,"endTime":1756.8799999999999,"body":"doesn't. One of you"},{"speaker":"Alan Smith","startTime":1752.72,"endTime":1756.8799999999999,"body":"infiltrated the fire Facebook"},{"speaker":"Alan Smith","startTime":1756.8799999999999,"endTime":1757.12,"body":"group"},{"speaker":"Unknown","startTime":1763.6,"endTime":1768.7,"body":"or something? Yeah,"},{"speaker":"Unknown","startTime":1763.6,"endTime":1768.7,"body":"I've built a bunker under my"},{"speaker":"Unknown","startTime":1768.7,"endTime":1768.94,"body":"house,"},{"speaker":"Alan Smith","startTime":1770.56,"endTime":1773.7,"body":"because Andy loves"},{"speaker":"Alan Smith","startTime":1770.56,"endTime":1773.7,"body":"it. He loves it. He thinks"},{"speaker":"Alan Smith","startTime":1773.7,"endTime":1777.3,"body":"you've got it all wrong. Yeah, I"},{"speaker":"Alan Smith","startTime":1773.7,"endTime":1777.3,"body":"know. Is it a good answer? I"},{"speaker":"Alan Smith","startTime":1777.3,"endTime":1780.3,"body":"mean, Nick, can you, can you"},{"speaker":"Alan Smith","startTime":1777.3,"endTime":1780.3,"body":"summarize what it said, or it's"},{"speaker":"Nick Lincoln","startTime":1780.3,"endTime":1782.1,"body":"been talking"},{"speaker":"Nick Lincoln","startTime":1780.3,"endTime":1782.1,"body":"about, if you suddenly walk away"},{"speaker":"Nick Lincoln","startTime":1782.3999999999999,"endTime":1785.8799999999999,"body":"from work at the age of 40,"},{"speaker":"Nick Lincoln","startTime":1782.3999999999999,"endTime":1785.8799999999999,"body":"you've got five, six decades"},{"speaker":"Nick Lincoln","startTime":1785.8799999999999,"endTime":1789.12,"body":"ahead of you, and what are you"},{"speaker":"Nick Lincoln","startTime":1785.8799999999999,"endTime":1789.12,"body":"going to do? And I know, and"},{"speaker":"Nick Lincoln","startTime":1789.18,"endTime":1791.94,"body":"something, it's not everyone"},{"speaker":"Nick Lincoln","startTime":1789.18,"endTime":1791.94,"body":"will just retire early, but the"},{"speaker":"Nick Lincoln","startTime":1791.94,"endTime":1794.36,"body":"movement is called Five. Early,"},{"speaker":"Nick Lincoln","startTime":1791.94,"endTime":1794.36,"body":"but the movement is called Fire."},{"speaker":"Nick Lincoln","startTime":1794.6,"endTime":1796.8799999999999,"body":"Imagine the parents retire"},{"speaker":"Nick Lincoln","startTime":1794.6,"endTime":1796.8799999999999,"body":"early, and he makes the point"},{"speaker":"Nick Lincoln","startTime":1796.8799999999999,"endTime":1799.1599999999999,"body":"that, and somebody else said,"},{"speaker":"Nick Lincoln","startTime":1796.8799999999999,"endTime":1799.1599999999999,"body":"This is not his quote, but"},{"speaker":"Nick Lincoln","startTime":1799.1599999999999,"endTime":1801.8,"body":"someone else says, If you really"},{"speaker":"Nick Lincoln","startTime":1799.1599999999999,"endTime":1801.8,"body":"that unhappy with your career,"},{"speaker":"Nick Lincoln","startTime":1801.8,"endTime":1804.1399999999999,"body":"change your career. But don't"},{"speaker":"Nick Lincoln","startTime":1801.8,"endTime":1804.1399999999999,"body":"just don't. I imagine a lot of"},{"speaker":"Nick Lincoln","startTime":1804.1399999999999,"endTime":1806.54,"body":"these people are in cells"},{"speaker":"Nick Lincoln","startTime":1804.1399999999999,"endTime":1806.54,"body":"without children. You know, how"},{"speaker":"Nick Lincoln","startTime":1806.54,"endTime":1808.7,"body":"can you really, if you've got"},{"speaker":"Nick Lincoln","startTime":1806.54,"endTime":1808.7,"body":"kids? There's no way you can."},{"speaker":"Nick Lincoln","startTime":1809.06,"endTime":1812.36,"body":"Don't. Anyway, we'll get Barney"},{"speaker":"Nick Lincoln","startTime":1809.06,"endTime":1812.36,"body":"Rubble on. What's his name,"},{"speaker":"Nick Lincoln","startTime":1812.36,"endTime":1814.48,"body":"Barney. We're too his name,"},{"speaker":"Nick Lincoln","startTime":1812.36,"endTime":1814.48,"body":"Barney with you. We're gonna get"},{"speaker":"Nick Lincoln","startTime":1814.48,"endTime":1817.84,"body":"it into he's a fire guy who, and"},{"speaker":"Nick Lincoln","startTime":1814.48,"endTime":1817.84,"body":"he highly talks about, and we're"},{"speaker":"Nick Lincoln","startTime":1817.84,"endTime":1821.44,"body":"gonna try and get him on the"},{"speaker":"Nick Lincoln","startTime":1817.84,"endTime":1821.44,"body":"show, I think,"},{"speaker":"Alan Smith","startTime":1821.44,"endTime":1823.6599999999999,"body":"at some stage in the"},{"speaker":"Alan Smith","startTime":1821.44,"endTime":1823.6599999999999,"body":"new year with him. Yes,"},{"speaker":"Nick Lincoln","startTime":1823.84,"endTime":1825.6399999999999,"body":"I'm looking"},{"speaker":"Nick Lincoln","startTime":1823.84,"endTime":1825.6399999999999,"body":"forward"},{"speaker":"Carl Widger","startTime":1825.76,"endTime":1828.52,"body":"to it, because I"},{"speaker":"Carl Widger","startTime":1825.76,"endTime":1828.52,"body":"think he's a very balanced guy,"},{"speaker":"Carl Widger","startTime":1828.52,"endTime":1832.92,"body":"cool. I don't think he's. Um,"},{"speaker":"Carl Widger","startTime":1828.52,"endTime":1832.92,"body":"you know, he's, he's got some"},{"speaker":"Carl Widger","startTime":1832.92,"endTime":1837.12,"body":"really good points to make. And,"},{"speaker":"Carl Widger","startTime":1832.92,"endTime":1837.12,"body":"and Andy's point is always very"},{"speaker":"Carl Widger","startTime":1837.12,"endTime":1842.7,"body":"well made. You know, actually,"},{"speaker":"Carl Widger","startTime":1837.12,"endTime":1842.7,"body":"the fire movement at its core is"},{"speaker":"Carl Widger","startTime":1888.78,"endTime":1893.04,"body":"a lot of the the philosophies we"},{"speaker":"Carl Widger","startTime":1888.78,"endTime":1893.04,"body":"will teach, yeah, yeah. So I get"},{"speaker":"Carl Widger","startTime":1893.04,"endTime":1896.9599999999998,"body":"it. It's just this thing about,"},{"speaker":"Carl Widger","startTime":1893.04,"endTime":1896.9599999999998,"body":"you know, exactly I read the"},{"speaker":"Carl Widger","startTime":1896.9599999999998,"endTime":1900.1399999999999,"body":"article, Nick right? So it's"},{"speaker":"Carl Widger","startTime":1896.9599999999998,"endTime":1900.1399999999999,"body":"exactly like the article is"},{"speaker":"Carl Widger","startTime":1900.1399999999999,"endTime":1902.54,"body":"going, Oh, so you give up at 40,"},{"speaker":"Carl Widger","startTime":1900.1399999999999,"endTime":1902.54,"body":"and then you have kind of no"},{"speaker":"Carl Widger","startTime":1902.54,"endTime":1906.02,"body":"purpose. And it's that that's my"},{"speaker":"Carl Widger","startTime":1902.54,"endTime":1906.02,"body":"challenge with it all the time."},{"speaker":"Carl Widger","startTime":1906.02,"endTime":1908.4199999999998,"body":"So I'm looking forward to"},{"speaker":"Carl Widger","startTime":1906.02,"endTime":1908.4199999999998,"body":"talking to Barney. I really,"},{"speaker":"Nick Lincoln","startTime":1908.4199999999998,"endTime":1910.76,"body":"really am. I"},{"speaker":"Nick Lincoln","startTime":1908.4199999999998,"endTime":1910.76,"body":"really am the just closing the"},{"speaker":"Nick Lincoln","startTime":1910.76,"endTime":1913.1599999999999,"body":"article leads off with a story"},{"speaker":"Nick Lincoln","startTime":1910.76,"endTime":1913.1599999999999,"body":"of a guy, I think his name is"},{"speaker":"Nick Lincoln","startTime":1913.1599999999999,"endTime":1916.04,"body":"Luke, who won 1.6 million pounds"},{"speaker":"Nick Lincoln","startTime":1913.1599999999999,"endTime":1916.04,"body":"on the lottery, worked at"},{"speaker":"Nick Lincoln","startTime":1916.04,"endTime":1919.4199999999998,"body":"McDonald's and went back to"},{"speaker":"Nick Lincoln","startTime":1916.04,"endTime":1919.4199999999998,"body":"work. Went back to work, not"},{"speaker":"Nick Lincoln","startTime":1919.4199999999998,"endTime":1921.58,"body":"because, like, you hear these"},{"speaker":"Nick Lincoln","startTime":1919.4199999999998,"endTime":1921.58,"body":"horror stories, people blowing"},{"speaker":"Nick Lincoln","startTime":1921.58,"endTime":1924.6999999999998,"body":"it, you know, just goes on. He"},{"speaker":"Nick Lincoln","startTime":1921.58,"endTime":1924.6999999999998,"body":"went back to work. He just"},{"speaker":"Nick Lincoln","startTime":1924.6999999999998,"endTime":1928.3,"body":"missed his mates, and everything"},{"speaker":"Nick Lincoln","startTime":1924.6999999999998,"endTime":1928.3,"body":"he changed was he got a taxi to"},{"speaker":"Nick Lincoln","startTime":1928.54,"endTime":1932.32,"body":"work instead of walking. Okay,"},{"speaker":"Nick Lincoln","startTime":1928.54,"endTime":1932.32,"body":"this is the last thing on the"},{"speaker":"Nick Lincoln","startTime":1932.32,"endTime":1934.84,"body":"docket. It's the last typical"},{"speaker":"Nick Lincoln","startTime":1932.32,"endTime":1934.84,"body":"tip, because we kind of raced"},{"speaker":"Nick Lincoln","startTime":1934.84,"endTime":1936.9599999999998,"body":"through that to a little which"},{"speaker":"Nick Lincoln","startTime":1934.84,"endTime":1936.9599999999998,"body":"is not bad. I suppose we don't"},{"speaker":"Nick Lincoln","startTime":1936.9599999999998,"endTime":1938.2199999999998,"body":"need to spin these things out."},{"speaker":"Unknown","startTime":1938.2199999999998,"endTime":1940.7399999999998,"body":"Are we gonna give them"},{"speaker":"Unknown","startTime":1938.2199999999998,"endTime":1940.7399999999998,"body":"a Christmas present or not?"},{"speaker":"Unknown","startTime":1940.7399999999998,"endTime":1941.4599999999998,"body":"Let's go. Let's"},{"speaker":"Nick Lincoln","startTime":1942.06,"endTime":1944.2199999999998,"body":"go. Okay, so Ultra"},{"speaker":"Nick Lincoln","startTime":1942.06,"endTime":1944.2199999999998,"body":"back. Yeah, I saw this"},{"speaker":"Nick Lincoln","startTime":1944.2199999999998,"endTime":1945.9599999999998,"body":"interesting Vanguard. Well,"},{"speaker":"Nick Lincoln","startTime":1944.2199999999998,"endTime":1945.9599999999998,"body":"this,"},{"speaker":"Andy Hart","startTime":1945.9599999999998,"endTime":1949.5,"body":"weirdly, has been the"},{"speaker":"Andy Hart","startTime":1945.9599999999998,"endTime":1949.5,"body":"story of the week, and I think"},{"speaker":"Andy Hart","startTime":1949.5,"endTime":1955.1999999999998,"body":"it's not a huge story. But"},{"speaker":"Andy Hart","startTime":1949.5,"endTime":1955.1999999999998,"body":"anyway, Vanguard and their DIY"},{"speaker":"Andy Hart","startTime":1955.1999999999998,"endTime":1961.04,"body":"investor solution offering have"},{"speaker":"Andy Hart","startTime":1955.1999999999998,"endTime":1961.04,"body":"weirdly or not, decided to"},{"speaker":"Andy Hart","startTime":1961.04,"endTime":1964.04,"body":"implement a minimum fee, because"},{"speaker":"Andy Hart","startTime":1961.04,"endTime":1964.04,"body":"they've got all of these people"},{"speaker":"Andy Hart","startTime":1964.4599999999998,"endTime":1967.82,"body":"that have got tiny amounts of"},{"speaker":"Andy Hart","startTime":1964.4599999999998,"endTime":1967.82,"body":"assets making tiny contributions"},{"speaker":"Andy Hart","startTime":1967.82,"endTime":1970.4599999999998,"body":"every single month that you know"},{"speaker":"Andy Hart","startTime":1967.82,"endTime":1970.4599999999998,"body":"want their investment return to"},{"speaker":"Andy Hart","startTime":1970.4599999999998,"endTime":1972.9799999999998,"body":"do the heavy lifting when the"},{"speaker":"Andy Hart","startTime":1970.4599999999998,"endTime":1972.9799999999998,"body":"contribution should be doing the"},{"speaker":"Andy Hart","startTime":1972.9799999999998,"endTime":1975.32,"body":"heavy, heavy lifting. And I"},{"speaker":"Andy Hart","startTime":1972.9799999999998,"endTime":1975.32,"body":"think they've implemented a"},{"speaker":"Andy Hart","startTime":1975.32,"endTime":1978.2199999999998,"body":"minimum, something like four"},{"speaker":"Andy Hart","startTime":1975.32,"endTime":1978.2199999999998,"body":"pounds a month fee. So works out"},{"speaker":"Andy Hart","startTime":1978.2199999999998,"endTime":1980.9199999999998,"body":"to be they want to charge a"},{"speaker":"Andy Hart","startTime":1978.2199999999998,"endTime":1980.9199999999998,"body":"minimum 48 pounds per person,"},{"speaker":"Andy Hart","startTime":1981.52,"endTime":1984.58,"body":"which is sweet FA in the grand"},{"speaker":"Andy Hart","startTime":1981.52,"endTime":1984.58,"body":"scheme of running a business."},{"speaker":"Andy Hart","startTime":1984.82,"endTime":1988.1799999999998,"body":"But all the forums have been up"},{"speaker":"Andy Hart","startTime":1984.82,"endTime":1988.1799999999998,"body":"in arms saying, How dare"},{"speaker":"Andy Hart","startTime":1988.1799999999998,"endTime":1992.1399999999999,"body":"Vanguard do this? And and I'm"},{"speaker":"Andy Hart","startTime":1988.1799999999998,"endTime":1992.1399999999999,"body":"gonna move my 6000 pounds away"},{"speaker":"Andy Hart","startTime":1992.1399999999999,"endTime":1995.62,"body":"from Vanguard. They're not gonna"},{"speaker":"Andy Hart","startTime":1992.1399999999999,"endTime":1995.62,"body":"have my business anymore. I'm"},{"speaker":"Andy Hart","startTime":1995.62,"endTime":1999.4199999999998,"body":"gonna join you remove my 4287"},{"speaker":"Andy Hart","startTime":1995.62,"endTime":1999.4199999999998,"body":"pounds away from Vanguard."},{"speaker":"Andy Hart","startTime":1999.78,"endTime":2002.54,"body":"Obviously, I think, I think the"},{"speaker":"Andy Hart","startTime":1999.78,"endTime":2002.54,"body":"sweet spot number is something"},{"speaker":"Andy Hart","startTime":2002.54,"endTime":2006.02,"body":"like 34,040 1000. Again, I"},{"speaker":"Andy Hart","startTime":2002.54,"endTime":2006.02,"body":"haven't really looked into the"},{"speaker":"Andy Hart","startTime":2006.02,"endTime":2010.6999999999998,"body":"details of 32,000 32,000 is the"},{"speaker":"Andy Hart","startTime":2006.02,"endTime":2010.6999999999998,"body":"sweet spot, and also that"},{"speaker":"Andy Hart","startTime":2010.6999999999998,"endTime":2013.6999999999998,"body":"they're shoehorning some other"},{"speaker":"Andy Hart","startTime":2010.6999999999998,"endTime":2013.6999999999998,"body":"people inside. What do you mean"},{"speaker":"Andy Hart","startTime":2013.6999999999998,"endTime":2017.3799999999999,"body":"by sweet spot? I don't stand"},{"speaker":"Andy Hart","startTime":2013.6999999999998,"endTime":2017.3799999999999,"body":"where, where the money"},{"speaker":"Unknown","startTime":2017.8,"endTime":2019.1799999999998,"body":"up until 32,000"},{"speaker":"Andy Hart","startTime":2021.4599999999998,"endTime":2023.6799999999998,"body":"break even over,"},{"speaker":"Andy Hart","startTime":2021.4599999999998,"endTime":2023.6799999999998,"body":"yeah, whatever, yeah. But"},{"speaker":"Andy Hart","startTime":2023.6799999999998,"endTime":2026.5,"body":"they've got a they've got a"},{"speaker":"Andy Hart","startTime":2023.6799999999998,"endTime":2026.5,"body":"managed option, which is, I"},{"speaker":"Andy Hart","startTime":2026.5,"endTime":2028.6599999999999,"body":"think they're easier one to look"},{"speaker":"Andy Hart","startTime":2026.5,"endTime":2028.6599999999999,"body":"after, whether, where they're"},{"speaker":"Andy Hart","startTime":2028.6599999999999,"endTime":2031.4199999999998,"body":"not implementing the fee in such"},{"speaker":"Andy Hart","startTime":2028.6599999999999,"endTime":2031.4199999999998,"body":"a, such an aggressive way. But"},{"speaker":"Andy Hart","startTime":2032.26,"endTime":2038.76,"body":"again, this is how these things"},{"speaker":"Andy Hart","startTime":2032.26,"endTime":2038.76,"body":"work. The wider sort of concept."},{"speaker":"Andy Hart","startTime":2038.76,"endTime":2042.6599999999999,"body":"Is something called end"},{"speaker":"Andy Hart","startTime":2038.76,"endTime":2042.6599999999999,"body":"shitification. Is a word. I'm"},{"speaker":"Andy Hart","startTime":2042.6599999999999,"endTime":2044.9399999999998,"body":"not swearing. It's called"},{"speaker":"Andy Hart","startTime":2042.6599999999999,"endTime":2044.9399999999998,"body":"enterification. I've done the"},{"speaker":"Andy Hart","startTime":2044.9399999999998,"endTime":2047.58,"body":"link to it in Wikipedia. It's"},{"speaker":"Andy Hart","startTime":2044.9399999999998,"endTime":2047.58,"body":"basically businesses starting"},{"speaker":"Andy Hart","startTime":2047.58,"endTime":2050.4,"body":"out that are amazing, and then"},{"speaker":"Andy Hart","startTime":2047.58,"endTime":2050.4,"body":"over time, focusing all on the"},{"speaker":"Andy Hart","startTime":2050.4,"endTime":2053.34,"body":"shareholder value and making the"},{"speaker":"Andy Hart","startTime":2050.4,"endTime":2053.34,"body":"business, you know, pretty"},{"speaker":"Andy Hart","startTime":2053.34,"endTime":2056.4,"body":"rubbish. You know, Uber first"},{"speaker":"Andy Hart","startTime":2053.34,"endTime":2056.4,"body":"started, you get a cab for five"},{"speaker":"Andy Hart","startTime":2056.4,"endTime":2058.46,"body":"pounds. They turn up their"},{"speaker":"Andy Hart","startTime":2056.4,"endTime":2058.46,"body":"spine, and the car smells nice."},{"speaker":"Andy Hart","startTime":2058.46,"endTime":2060.98,"body":"You know, three years later, you"},{"speaker":"Andy Hart","startTime":2058.46,"endTime":2060.98,"body":"get the same car. It's 45 quid."},{"speaker":"Andy Hart","startTime":2060.98,"endTime":2063.74,"body":"The car stinks. The guys, you"},{"speaker":"Andy Hart","startTime":2060.98,"endTime":2063.74,"body":"know, super pissed off, but you"},{"speaker":"Andy Hart","startTime":2063.74,"endTime":2066.92,"body":"still use an Uber. That's an"},{"speaker":"Andy Hart","startTime":2063.74,"endTime":2066.92,"body":"example. All businesses over"},{"speaker":"Andy Hart","startTime":2066.92,"endTime":2069.44,"body":"time get, you know,"},{"speaker":"Andy Hart","startTime":2066.92,"endTime":2069.44,"body":"shitification, and gets and"},{"speaker":"Andy Hart","startTime":2069.44,"endTime":2072.2,"body":"shitification is applied to"},{"speaker":"Andy Hart","startTime":2069.44,"endTime":2072.2,"body":"them, and that's an example of"},{"speaker":"Andy Hart","startTime":2072.2,"endTime":2076.1,"body":"what's happening at Vanguard. So"},{"speaker":"Andy Hart","startTime":2072.2,"endTime":2076.1,"body":"it's been a huge story in the"},{"speaker":"Andy Hart","startTime":2076.16,"endTime":2080.02,"body":"investing world, and we're not"},{"speaker":"Andy Hart","startTime":2076.16,"endTime":2080.02,"body":"sure how people can react, but"},{"speaker":"Andy Hart","startTime":2080.2,"endTime":2082.66,"body":"obviously the people small"},{"speaker":"Andy Hart","startTime":2080.2,"endTime":2082.66,"body":"accounts are going to leave"},{"speaker":"Andy Hart","startTime":2082.66,"endTime":2084.76,"body":"them, which is probably"},{"speaker":"Andy Hart","startTime":2082.66,"endTime":2084.76,"body":"achieved. But it's more bad"},{"speaker":"Andy Hart","startTime":2084.76,"endTime":2087.7,"body":"press for Vanguard, they've got"},{"speaker":"Andy Hart","startTime":2084.76,"endTime":2087.7,"body":"a lot of bad press, you know,"},{"speaker":"Andy Hart","startTime":2087.7,"endTime":2090.64,"body":"launching their financial advice"},{"speaker":"Andy Hart","startTime":2087.7,"endTime":2090.64,"body":"offering, and then obviously"},{"speaker":"Andy Hart","startTime":2090.64,"endTime":2092.92,"body":"pulled out of that market,"},{"speaker":"Andy Hart","startTime":2090.64,"endTime":2092.92,"body":"because it's a tough market to"},{"speaker":"Andy Hart","startTime":2092.92,"endTime":2096.78,"body":"be in. And now even in the DIY"},{"speaker":"Andy Hart","startTime":2092.92,"endTime":2096.78,"body":"side, there, again, slightly"},{"speaker":"Andy Hart","startTime":2096.84,"endTime":2100.98,"body":"annoying their early clients and"},{"speaker":"Andy Hart","startTime":2096.84,"endTime":2100.98,"body":"customers. Is"},{"speaker":"Carl Widger","startTime":2101.34,"endTime":2104.4,"body":"their point? That"},{"speaker":"Carl Widger","startTime":2101.34,"endTime":2104.4,"body":"is their point, right? I have no"},{"speaker":"Carl Widger","startTime":2104.4,"endTime":2109.14,"body":"problem in them saying, okay, we"},{"speaker":"Carl Widger","startTime":2104.4,"endTime":2109.14,"body":"can no longer do business based"},{"speaker":"Carl Widger","startTime":2109.14,"endTime":2113.1,"body":"on this particular charging"},{"speaker":"Carl Widger","startTime":2109.14,"endTime":2113.1,"body":"structure. So from today on,"},{"speaker":"Carl Widger","startTime":2113.1,"endTime":2115.74,"body":"yep, here's you. You make a"},{"speaker":"Carl Widger","startTime":2113.1,"endTime":2115.74,"body":"choice now"},{"speaker":"Unknown","startTime":2116.7,"endTime":2119.78,"body":"prices you cannot start"},{"speaker":"Unknown","startTime":2116.7,"endTime":2119.78,"body":"changing. I"},{"speaker":"Carl Widger","startTime":2119.78,"endTime":2122.72,"body":"have a serious"},{"speaker":"Carl Widger","startTime":2119.78,"endTime":2122.72,"body":"problem. We have a an issue. The"},{"speaker":"Carl Widger","startTime":2122.72,"endTime":2126.2,"body":"Irish market on exactly this."},{"speaker":"Carl Widger","startTime":2122.72,"endTime":2126.2,"body":"And I just don't think it's"},{"speaker":"Carl Widger","startTime":2126.2,"endTime":2128.9,"body":"right. I do not think it's right"},{"speaker":"Carl Widger","startTime":2126.2,"endTime":2128.9,"body":"now, you know what? It's called"},{"speaker":"Carl Widger","startTime":2128.9,"endTime":2132.56,"body":"COVID and shitification. I think"},{"speaker":"Carl Widger","startTime":2128.9,"endTime":2132.56,"body":"it's sharp practice, and I don't"},{"speaker":"Carl Widger","startTime":2132.56,"endTime":2135.92,"body":"think it's it's fair. I don't"},{"speaker":"Carl Widger","startTime":2132.56,"endTime":2135.92,"body":"think it's correct, especially"},{"speaker":"Carl Widger","startTime":2135.92,"endTime":2140.08,"body":"for you. Nailed it there, your"},{"speaker":"Carl Widger","startTime":2135.92,"endTime":2140.08,"body":"early adopters, the people who"},{"speaker":"Carl Widger","startTime":2140.08,"endTime":2143.2599999999998,"body":"did business with you, first"},{"speaker":"Carl Widger","startTime":2140.08,"endTime":2143.2599999999998,"body":"day, right? Who supported you"},{"speaker":"Carl Widger","startTime":2143.3199999999997,"endTime":2147.04,"body":"first day? Oh, we're gonna pick"},{"speaker":"Carl Widger","startTime":2143.3199999999997,"endTime":2147.04,"body":"and choose now, because we've"},{"speaker":"Carl Widger","startTime":2147.04,"endTime":2149.44,"body":"built our business now. We're"},{"speaker":"Carl Widger","startTime":2147.04,"endTime":2149.44,"body":"absolutely flying it, and we're"},{"speaker":"Carl Widger","startTime":2149.44,"endTime":2153.52,"body":"gonna change it. So I have a"},{"speaker":"Carl Widger","startTime":2149.44,"endTime":2153.52,"body":"problem with this. I think it's"},{"speaker":"Carl Widger","startTime":2153.52,"endTime":2158.4,"body":"not right, and that's there has"},{"speaker":"Carl Widger","startTime":2153.52,"endTime":2158.4,"body":"to be at some stage where you"},{"speaker":"Carl Widger","startTime":2158.4,"endTime":2162.06,"body":"have there are values that you"},{"speaker":"Carl Widger","startTime":2158.4,"endTime":2162.06,"body":"will say, we're going to stick"},{"speaker":"Carl Widger","startTime":2162.06,"endTime":2164.64,"body":"to these values. We're going to"},{"speaker":"Carl Widger","startTime":2162.06,"endTime":2164.64,"body":"do the right thing here. It's"},{"speaker":"Carl Widger","startTime":2164.64,"endTime":2167.7599999999998,"body":"not all about shareholder value."},{"speaker":"Carl Widger","startTime":2164.64,"endTime":2167.7599999999998,"body":"Easier for us as small"},{"speaker":"Carl Widger","startTime":2167.7599999999998,"endTime":2172.62,"body":"businesses to say that, but I"},{"speaker":"Carl Widger","startTime":2167.7599999999998,"endTime":2172.62,"body":"have a big, big problem with"},{"speaker":"Carl Widger","startTime":2172.62,"endTime":2172.92,"body":"this."},{"speaker":"Nick Lincoln","startTime":2173.3399999999997,"endTime":2176.9,"body":"I know you do"},{"speaker":"Nick Lincoln","startTime":2173.3399999999997,"endTime":2176.9,"body":"COVID. We. What you're talking"},{"speaker":"Nick Lincoln","startTime":2176.9,"endTime":2179.42,"body":"about, and the example that"},{"speaker":"Nick Lincoln","startTime":2176.9,"endTime":2179.42,"body":"you've experienced this week is,"},{"speaker":"Nick Lincoln","startTime":2179.42,"endTime":2182.3599999999997,"body":"I think is egregious. I don't"},{"speaker":"Nick Lincoln","startTime":2179.42,"endTime":2182.3599999999997,"body":"think you have to accept that"},{"speaker":"Nick Lincoln","startTime":2182.3599999999997,"endTime":2186.2,"body":"firms will encounter costs they"},{"speaker":"Nick Lincoln","startTime":2182.3599999999997,"endTime":2186.2,"body":"weren't expecting when they set"},{"speaker":"Nick Lincoln","startTime":2186.2,"endTime":2189.2599999999998,"body":"a business up. And sometimes"},{"speaker":"Nick Lincoln","startTime":2186.2,"endTime":2189.2599999999998,"body":"things do change. Agreed, if the"},{"speaker":"Nick Lincoln","startTime":2189.2599999999998,"endTime":2193.3399999999997,"body":"sick, if the 4207 pound pot on"},{"speaker":"Nick Lincoln","startTime":2189.2599999999998,"endTime":2193.3399999999997,"body":"Vanguard, who's walking, can"},{"speaker":"Nick Lincoln","startTime":2193.3399999999997,"endTime":2196.48,"body":"find it somewhere cheaper, then"},{"speaker":"Nick Lincoln","startTime":2193.3399999999997,"endTime":2196.48,"body":"they walk. Otherwise, what"},{"speaker":"Nick Lincoln","startTime":2196.48,"endTime":2199.42,"body":"you're saying is, Thank God it's"},{"speaker":"Nick Lincoln","startTime":2196.48,"endTime":2199.42,"body":"still the cheapest, right? My"},{"speaker":"Nick Lincoln","startTime":2199.42,"endTime":2200.62,"body":"implication, if you're staying"},{"speaker":"Andy Hart","startTime":2200.68,"endTime":2203.3199999999997,"body":"put on the most"},{"speaker":"Andy Hart","startTime":2200.68,"endTime":2203.3199999999997,"body":"convenient, the most convenient."},{"speaker":"Andy Hart","startTime":2203.3199999999997,"endTime":2205.9,"body":"So I stay with them and pay the"},{"speaker":"Andy Hart","startTime":2203.3199999999997,"endTime":2205.9,"body":"48 quid. But what they're saying"},{"speaker":"Andy Hart","startTime":2205.9,"endTime":2209.2,"body":"is, the 48 quid as a percentage"},{"speaker":"Andy Hart","startTime":2205.9,"endTime":2209.2,"body":"works out to be 9% if you get 9%"},{"speaker":"Andy Hart","startTime":2209.56,"endTime":2212.68,"body":"you don't get any return. You"},{"speaker":"Andy Hart","startTime":2209.56,"endTime":2212.68,"body":"know, the value of everything,"},{"speaker":"Andy Hart","startTime":2212.68,"endTime":2213.88,"body":"the price enough. There's a"},{"speaker":"Andy Hart","startTime":2212.68,"endTime":2213.88,"body":"middle"},{"speaker":"Carl Widger","startTime":2213.88,"endTime":2215.7999999999997,"body":"ground. There's a"},{"speaker":"Carl Widger","startTime":2213.88,"endTime":2215.7999999999997,"body":"middle ground here whereby you"},{"speaker":"Carl Widger","startTime":2215.7999999999997,"endTime":2220.08,"body":"say, yeah, we've done it. We've"},{"speaker":"Carl Widger","startTime":2215.7999999999997,"endTime":2220.08,"body":"done an analysis here. We really"},{"speaker":"Carl Widger","startTime":2220.08,"endTime":2223.68,"body":"appreciate your business. Here's"},{"speaker":"Carl Widger","startTime":2220.08,"endTime":2223.68,"body":"what's going to happen in 2026"},{"speaker":"Carl Widger","startTime":2225.2999999999997,"endTime":2229.02,"body":"and so we're just giving you a"},{"speaker":"Carl Widger","startTime":2225.2999999999997,"endTime":2229.02,"body":"significant period of time, too"},{"speaker":"Carl Widger","startTime":2229.08,"endTime":2236.04,"body":"long, to sort this out. And you"},{"speaker":"Carl Widger","startTime":2229.08,"endTime":2236.04,"body":"know, just that's for the"},{"speaker":"Carl Widger","startTime":2236.04,"endTime":2239.6,"body":"existing the existing business,"},{"speaker":"Carl Widger","startTime":2236.04,"endTime":2239.6,"body":"sure, and for the business going"},{"speaker":"Carl Widger","startTime":2239.6,"endTime":2243.2,"body":"forward, it's on the new model."},{"speaker":"Carl Widger","startTime":2239.6,"endTime":2243.2,"body":"So you make the choice. I don't"},{"speaker":"Carl Widger","startTime":2243.2,"endTime":2245.66,"body":"mind if you want to do your"},{"speaker":"Carl Widger","startTime":2243.2,"endTime":2245.66,"body":"business with us, it's going to"},{"speaker":"Carl Widger","startTime":2245.66,"endTime":2248.18,"body":"be four pounds a month, or"},{"speaker":"Carl Widger","startTime":2245.66,"endTime":2248.18,"body":"whatever it's going to be, but"},{"speaker":"Carl Widger","startTime":2248.96,"endTime":2252.14,"body":"you guys know what I'm talking"},{"speaker":"Carl Widger","startTime":2248.96,"endTime":2252.14,"body":"about in terms of now. But I"},{"speaker":"Carl Widger","startTime":2252.14,"endTime":2255.3199999999997,"body":"mean, there has been examples"},{"speaker":"Carl Widger","startTime":2252.14,"endTime":2255.3199999999997,"body":"over the last year or 18 months"},{"speaker":"Carl Widger","startTime":2255.3199999999997,"endTime":2258.22,"body":"whereby we're just increasing"},{"speaker":"Carl Widger","startTime":2255.3199999999997,"endTime":2258.22,"body":"the prices, and that's going to"},{"speaker":"Carl Widger","startTime":2258.22,"endTime":2259.06,"body":"apply to everybody."},{"speaker":"Alan Smith","startTime":2259.12,"endTime":2261.46,"body":"Yeah, do you know?"},{"speaker":"Alan Smith","startTime":2259.12,"endTime":2261.46,"body":"Do you know what I mean? I think"},{"speaker":"Alan Smith","startTime":2261.46,"endTime":2265.0,"body":"financial services companies do"},{"speaker":"Alan Smith","startTime":2261.46,"endTime":2265.0,"body":"are seem to be much more in the"},{"speaker":"Alan Smith","startTime":2265.0,"endTime":2268.2999999999997,"body":"spotlight. And I just noticed"},{"speaker":"Alan Smith","startTime":2265.0,"endTime":2268.2999999999997,"body":"these things, various apps and"},{"speaker":"Alan Smith","startTime":2268.2999999999997,"endTime":2270.58,"body":"things Nick you. And I spoke"},{"speaker":"Alan Smith","startTime":2268.2999999999997,"endTime":2270.58,"body":"about this was last year with"},{"speaker":"Alan Smith","startTime":2270.58,"endTime":2275.3199999999997,"body":"Evernote, for example. I noticed"},{"speaker":"Alan Smith","startTime":2270.58,"endTime":2275.3199999999997,"body":"my Sky TV subscription, and you"},{"speaker":"Alan Smith","startTime":2275.3199999999997,"endTime":2278.7,"body":"get this email comes through,"},{"speaker":"Alan Smith","startTime":2275.3199999999997,"endTime":2278.7,"body":"and you don't normally just"},{"speaker":"Alan Smith","startTime":2278.7,"endTime":2280.98,"body":"press Delete, but it's because"},{"speaker":"Alan Smith","startTime":2278.7,"endTime":2280.98,"body":"it's page after page. We're"},{"speaker":"Alan Smith","startTime":2280.98,"endTime":2283.98,"body":"changing the terms of our blah,"},{"speaker":"Alan Smith","startTime":2280.98,"endTime":2283.98,"body":"blah, blah. Scroll down and"},{"speaker":"Alan Smith","startTime":2283.98,"endTime":2288.6,"body":"it's, they've just done like, a"},{"speaker":"Alan Smith","startTime":2283.98,"endTime":2288.6,"body":"28% increase in the monthly sub"},{"speaker":"Alan Smith","startTime":2288.9,"endTime":2291.96,"body":"monthly fee. And you think, hang"},{"speaker":"Alan Smith","startTime":2288.9,"endTime":2291.96,"body":"on a minute. But it's not,"},{"speaker":"Alan Smith","startTime":2291.96,"endTime":2294.24,"body":"there's no, there's no big they"},{"speaker":"Alan Smith","startTime":2291.96,"endTime":2294.24,"body":"said, you know, it's the usual"},{"speaker":"Alan Smith","startTime":2294.24,"endTime":2296.8399999999997,"body":"with fully disclosed. And as I"},{"speaker":"Alan Smith","startTime":2294.24,"endTime":2296.8399999999997,"body":"say, you know, Dropbox, this"},{"speaker":"Alan Smith","startTime":2296.8399999999997,"endTime":2299.72,"body":"thing is doubled in price. Well,"},{"speaker":"Alan Smith","startTime":2296.8399999999997,"endTime":2299.72,"body":"the same thing Evernote"},{"speaker":"Alan Smith","startTime":2299.72,"endTime":2302.3599999999997,"body":"certainly has. And a bunch of"},{"speaker":"Alan Smith","startTime":2299.72,"endTime":2302.3599999999997,"body":"all these things have hugely"},{"speaker":"Alan Smith","startTime":2302.3599999999997,"endTime":2305.96,"body":"increased that in some ways,"},{"speaker":"Alan Smith","startTime":2302.3599999999997,"endTime":2305.96,"body":"those things are even are harder"},{"speaker":"Alan Smith","startTime":2305.96,"endTime":2309.3199999999997,"body":"to move away from. You've got"},{"speaker":"Alan Smith","startTime":2305.96,"endTime":2309.3199999999997,"body":"all Jesus, that'd be an absolute"},{"speaker":"Alan Smith","startTime":2309.3199999999997,"endTime":2311.66,"body":"nightmare to try to relocate"},{"speaker":"Alan Smith","startTime":2309.3199999999997,"endTime":2311.66,"body":"that somewhere else. I think"},{"speaker":"Alan Smith","startTime":2311.96,"endTime":2314.24,"body":"it's only a couple of 100"},{"speaker":"Alan Smith","startTime":2311.96,"endTime":2314.24,"body":"pounds, but it is, you know,"},{"speaker":"Alan Smith","startTime":2314.24,"endTime":2318.64,"body":"100% increases. A lot of that"},{"speaker":"Alan Smith","startTime":2314.24,"endTime":2318.64,"body":"goes on, ultimately, in a free"},{"speaker":"Alan Smith","startTime":2318.64,"endTime":2322.06,"body":"market economy, you've got the"},{"speaker":"Alan Smith","startTime":2318.64,"endTime":2322.06,"body":"right to walk at any point, but"},{"speaker":"Alan Smith","startTime":2322.12,"endTime":2324.46,"body":"it depends. I guess none of"},{"speaker":"Alan Smith","startTime":2322.12,"endTime":2324.46,"body":"these other organizations set"},{"speaker":"Alan Smith","startTime":2324.46,"endTime":2327.46,"body":"the stall out as being super low"},{"speaker":"Alan Smith","startTime":2324.46,"endTime":2327.46,"body":"cost, super cheap, whereas"},{"speaker":"Alan Smith","startTime":2327.7,"endTime":2328.66,"body":"Vanguard have made a big"},{"speaker":"Nick Lincoln","startTime":2328.66,"endTime":2331.0,"body":"that's, I think"},{"speaker":"Nick Lincoln","startTime":2328.66,"endTime":2331.0,"body":"Vanguard is just renowned for"},{"speaker":"Nick Lincoln","startTime":2331.0,"endTime":2333.2799999999997,"body":"watching the pennies on this."},{"speaker":"Nick Lincoln","startTime":2331.0,"endTime":2333.2799999999997,"body":"That's probably where the story"},{"speaker":"Nick Lincoln","startTime":2333.2799999999997,"endTime":2336.72,"body":"resonates a bit more, because of"},{"speaker":"Nick Lincoln","startTime":2333.2799999999997,"endTime":2336.72,"body":"who's doing it. It was, you"},{"speaker":"Nick Lincoln","startTime":2336.72,"endTime":2337.2,"body":"know, it was"},{"speaker":"Andy Hart","startTime":2337.44,"endTime":2340.68,"body":"AJ, I'm pretty sure"},{"speaker":"Andy Hart","startTime":2337.44,"endTime":2340.68,"body":"they did focus on the fees being"},{"speaker":"Andy Hart","startTime":2340.68,"endTime":2344.7,"body":"an integral part. And they had"},{"speaker":"Andy Hart","startTime":2340.68,"endTime":2344.7,"body":"big marketing budget, you know,"},{"speaker":"Andy Hart","startTime":2344.8199999999997,"endTime":2347.7599999999998,"body":"TV, radio, everything. So, yeah,"},{"speaker":"Andy Hart","startTime":2344.8199999999997,"endTime":2347.7599999999998,"body":"they've thrown everything at"},{"speaker":"Andy Hart","startTime":2347.7599999999998,"endTime":2350.46,"body":"this, and now they're pulling"},{"speaker":"Andy Hart","startTime":2347.7599999999998,"endTime":2350.46,"body":"back on it again. It's what they"},{"speaker":"Andy Hart","startTime":2350.46,"endTime":2352.2,"body":"did with the device offering. So"},{"speaker":"Alan Smith","startTime":2352.2,"endTime":2353.88,"body":"we've talked about"},{"speaker":"Alan Smith","startTime":2352.2,"endTime":2353.88,"body":"this before, by the way, on"},{"speaker":"Alan Smith","startTime":2353.88,"endTime":2356.2999999999997,"body":"that, I don't know if you saw"},{"speaker":"Alan Smith","startTime":2353.88,"endTime":2356.2999999999997,"body":"that also sort of slightly flew"},{"speaker":"Alan Smith","startTime":2356.2999999999997,"endTime":2359.8399999999997,"body":"under the radar talking to"},{"speaker":"Alan Smith","startTime":2356.2999999999997,"endTime":2359.8399999999997,"body":"Vanguard last week. Vanguard"},{"speaker":"Alan Smith","startTime":2359.8399999999997,"endTime":2362.42,"body":"have kind of the relaunching"},{"speaker":"Alan Smith","startTime":2359.8399999999997,"endTime":2362.42,"body":"their what they call their"},{"speaker":"Alan Smith","startTime":2362.42,"endTime":2368.0,"body":"wealth management division"},{"speaker":"Alan Smith","startTime":2362.42,"endTime":2368.0,"body":"department out of the US article"},{"speaker":"Alan Smith","startTime":2368.0,"endTime":2371.9,"body":"in the FT, I can share it, but"},{"speaker":"Alan Smith","startTime":2368.0,"endTime":2371.9,"body":"get this. This is a big"},{"speaker":"Alan Smith","startTime":2371.9,"endTime":2375.62,"body":"business. Vanguard is carving"},{"speaker":"Alan Smith","startTime":2371.9,"endTime":2375.62,"body":"out this 900 billion wealth and"},{"speaker":"Alan Smith","startTime":2375.62,"endTime":2378.4,"body":"advice business into a separate"},{"speaker":"Alan Smith","startTime":2375.62,"endTime":2378.4,"body":"unit to speed investment, rising"},{"speaker":"Alan Smith","startTime":2378.4,"endTime":2381.7599999999998,"body":"demand, etc, etc. Now there's a"},{"speaker":"Alan Smith","startTime":2378.4,"endTime":2381.7599999999998,"body":"trillion dollar wealth"},{"speaker":"Alan Smith","startTime":2381.7599999999998,"endTime":2384.7,"body":"management business which make"},{"speaker":"Alan Smith","startTime":2381.7599999999998,"endTime":2384.7,"body":"must make it one of the biggest"},{"speaker":"Alan Smith","startTime":2384.7,"endTime":2386.02,"body":"in the world. Which are they"},{"speaker":"Alan Smith","startTime":2384.7,"endTime":2386.02,"body":"keeping"},{"speaker":"Andy Hart","startTime":2386.02,"endTime":2389.02,"body":"it under the sort of"},{"speaker":"Andy Hart","startTime":2386.02,"endTime":2389.02,"body":"Vanguard cooperative? Are they"},{"speaker":"Andy Hart","startTime":2389.02,"endTime":2390.22,"body":"setting up as a more"},{"speaker":"Alan Smith","startTime":2390.399,"endTime":2392.859,"body":"they're carving out."},{"speaker":"Alan Smith","startTime":2390.399,"endTime":2392.859,"body":"They've hired some lady, let me"},{"speaker":"Alan Smith","startTime":2392.859,"endTime":2396.0389999999998,"body":"see. They've hired some lady"},{"speaker":"Alan Smith","startTime":2392.859,"endTime":2396.0389999999998,"body":"from McKinsey, former McKinsey"},{"speaker":"Alan Smith","startTime":2396.0389999999998,"endTime":2398.879,"body":"consultant who led Wealth"},{"speaker":"Alan Smith","startTime":2396.0389999999998,"endTime":2398.879,"body":"Management at Toronto based BMO,"},{"speaker":"Alan Smith","startTime":2398.879,"endTime":2401.819,"body":"headed up Fidelity's personal"},{"speaker":"Alan Smith","startTime":2398.879,"endTime":2401.819,"body":"investment. They are going to"},{"speaker":"Alan Smith","startTime":2401.819,"endTime":2404.279,"body":"turn on this like a global"},{"speaker":"Alan Smith","startTime":2401.819,"endTime":2404.279,"body":"wealth management business for"},{"speaker":"Alan Smith","startTime":2404.279,"endTime":2407.159,"body":"their high net worth segment of"},{"speaker":"Alan Smith","startTime":2404.279,"endTime":2407.159,"body":"clients. Obviously, we talked"},{"speaker":"Alan Smith","startTime":2407.159,"endTime":2409.739,"body":"about this before they had to go"},{"speaker":"Alan Smith","startTime":2407.159,"endTime":2409.739,"body":"in the UK at the Financial"},{"speaker":"Alan Smith","startTime":2409.739,"endTime":2413.999,"body":"Planning thing, which, for"},{"speaker":"Alan Smith","startTime":2409.739,"endTime":2413.999,"body":"whatever reason, didn't get off"},{"speaker":"Alan Smith","startTime":2413.999,"endTime":2414.839,"body":"the ground. So"},{"speaker":"Nick Lincoln","startTime":2414.9,"endTime":2416.72,"body":"Germany as well."},{"speaker":"Nick Lincoln","startTime":2414.9,"endTime":2416.72,"body":"They had it. They tried it, then"},{"speaker":"Nick Lincoln","startTime":2416.72,"endTime":2418.7599999999998,"body":"it didn't work. Yeah, so Well,"},{"speaker":"Alan Smith","startTime":2419.18,"endTime":2421.7,"body":"the trying again, it"},{"speaker":"Alan Smith","startTime":2419.18,"endTime":2421.7,"body":"seems like, so,"},{"speaker":"Andy Hart","startTime":2421.8199999999997,"endTime":2423.7999999999997,"body":"okay, financial"},{"speaker":"Andy Hart","startTime":2421.8199999999997,"endTime":2423.7999999999997,"body":"advice is a luxury product."},{"speaker":"Nick Lincoln","startTime":2424.5789999999997,"endTime":2427.159,"body":"You said all that"},{"speaker":"Nick Lincoln","startTime":2424.5789999999997,"endTime":2427.159,"body":"we do love Vanguard, yes, and we"},{"speaker":"Nick Lincoln","startTime":2427.159,"endTime":2432.859,"body":"think then they're good friends"},{"speaker":"Nick Lincoln","startTime":2427.159,"endTime":2432.859,"body":"of the show. We do great. What"},{"speaker":"Nick Lincoln","startTime":2432.859,"endTime":2433.819,"body":"are you two? Shortly over,"},{"speaker":"Alan Smith","startTime":2433.8199999999997,"endTime":2438.46,"body":"just checking the"},{"speaker":"Alan Smith","startTime":2433.8199999999997,"endTime":2438.46,"body":"private group. Move on quick."},{"speaker":"Nick Lincoln","startTime":2439.719,"endTime":2443.799,"body":"All right? 39"},{"speaker":"Nick Lincoln","startTime":2439.719,"endTime":2443.799,"body":"minutes in. So let's go on"},{"speaker":"Nick Lincoln","startTime":2443.859,"endTime":2449.1389999999997,"body":"episode 60. Let's go on to the"},{"speaker":"Nick Lincoln","startTime":2443.859,"endTime":2449.1389999999997,"body":"meat and potatoes of today's"},{"speaker":"Nick Lincoln","startTime":2449.1389999999997,"endTime":2452.5589999999997,"body":"show. So, yes, we're going to do"},{"speaker":"Nick Lincoln","startTime":2449.1389999999997,"endTime":2452.5589999999997,"body":"a cliche. Now all the fund"},{"speaker":"Nick Lincoln","startTime":2452.5589999999997,"endTime":2455.379,"body":"managers and all the DFMS do"},{"speaker":"Nick Lincoln","startTime":2452.5589999999997,"endTime":2455.379,"body":"their predictions. It's a cliche"},{"speaker":"Nick Lincoln","startTime":2455.379,"endTime":2457.719,"body":"this time of year, we're going"},{"speaker":"Nick Lincoln","startTime":2455.379,"endTime":2457.719,"body":"to do a cliche. We're going to"},{"speaker":"Nick Lincoln","startTime":2457.719,"endTime":2461.879,"body":"talk about our successes and"},{"speaker":"Nick Lincoln","startTime":2457.719,"endTime":2461.879,"body":"wins of the last year, our top"},{"speaker":"Nick Lincoln","startTime":2461.879,"endTime":2466.439,"body":"three, each of us succinctly and"},{"speaker":"Nick Lincoln","startTime":2461.879,"endTime":2466.439,"body":"in a round robin style fashion."},{"speaker":"Nick Lincoln","startTime":2466.439,"endTime":2469.019,"body":"And I'm going to start I'm"},{"speaker":"Nick Lincoln","startTime":2466.439,"endTime":2469.019,"body":"reading from the sheet here. So"},{"speaker":"Nick Lincoln","startTime":2469.019,"endTime":2473.519,"body":"I'll go with the with you. Mr."},{"speaker":"Nick Lincoln","startTime":2469.019,"endTime":2473.519,"body":"Smith, your first win of 2024"},{"speaker":"Alan Smith","startTime":2475.44,"endTime":2477.68,"body":"i. Sorry, I thought"},{"speaker":"Alan Smith","startTime":2475.44,"endTime":2477.68,"body":"you said you were going to"},{"speaker":"Alan Smith","startTime":2477.8599999999997,"endTime":2478.2799999999997,"body":"start. You"},{"speaker":"Nick Lincoln","startTime":2478.2799999999997,"endTime":2480.2599999999998,"body":"are going to"},{"speaker":"Nick Lincoln","startTime":2478.2799999999997,"endTime":2480.2599999999998,"body":"start. Mr. Smith. My name is Mr."},{"speaker":"Nick Lincoln","startTime":2480.2599999999998,"endTime":2483.56,"body":"Lincoln. You are Mr. Smith."},{"speaker":"Nick Lincoln","startTime":2480.2599999999998,"endTime":2483.56,"body":"Okay, so one,"},{"speaker":"Alan Smith","startTime":2483.5589999999997,"endTime":2485.5389999999998,"body":"one at a time, okay,"},{"speaker":"Alan Smith","startTime":2483.5589999999997,"endTime":2485.5389999999998,"body":"I'm going with the"},{"speaker":"Alan Smith","startTime":2485.5989999999997,"endTime":2489.1389999999997,"body":"straightforward and obvious one,"},{"speaker":"Alan Smith","startTime":2485.5989999999997,"endTime":2489.1389999999997,"body":"which was a reflect back on the"},{"speaker":"Alan Smith","startTime":2489.1389999999997,"endTime":2492.439,"body":"year in my business capital. And"},{"speaker":"Alan Smith","startTime":2489.1389999999997,"endTime":2492.439,"body":"we had, you know, in simple"},{"speaker":"Alan Smith","startTime":2492.439,"endTime":2495.859,"body":"terms, we had an outstanding"},{"speaker":"Alan Smith","startTime":2492.439,"endTime":2495.859,"body":"year. We had our record year in"},{"speaker":"Alan Smith","startTime":2495.859,"endTime":2501.399,"body":"terms of new clients, assets,"},{"speaker":"Alan Smith","startTime":2495.859,"endTime":2501.399,"body":"revenue, profitability, which is"},{"speaker":"Alan Smith","startTime":2501.399,"endTime":2504.399,"body":"always good news you want, you"},{"speaker":"Alan Smith","startTime":2501.399,"endTime":2504.399,"body":"hope to be, and expect to be"},{"speaker":"Alan Smith","startTime":2504.399,"endTime":2507.399,"body":"doing those things, particularly"},{"speaker":"Alan Smith","startTime":2504.399,"endTime":2507.399,"body":"in a rising market. Matt"},{"speaker":"Alan Smith","startTime":2507.399,"endTime":2514.5389999999998,"body":"Nicholas, but I think not only"},{"speaker":"Alan Smith","startTime":2507.399,"endTime":2514.5389999999998,"body":"that, we there's, there's a"},{"speaker":"Alan Smith","startTime":2514.5389999999998,"endTime":2517.6189999999997,"body":"sense of we've slowly but"},{"speaker":"Alan Smith","startTime":2514.5389999999998,"endTime":2517.6189999999997,"body":"surely, kind of, after 20 years,"},{"speaker":"Alan Smith","startTime":2517.6189999999997,"endTime":2521.159,"body":"getting our act together in that"},{"speaker":"Alan Smith","startTime":2517.6189999999997,"endTime":2521.159,"body":"we've kind of, I don't know, we"},{"speaker":"Alan Smith","startTime":2521.159,"endTime":2524.0989999999997,"body":"seem to be much more structured."},{"speaker":"Alan Smith","startTime":2521.159,"endTime":2524.0989999999997,"body":"We're organized. We moved"},{"speaker":"Alan Smith","startTime":2524.0989999999997,"endTime":2528.1189999999997,"body":"offices. You know, I reported it"},{"speaker":"Alan Smith","startTime":2524.0989999999997,"endTime":2528.1189999999997,"body":"during the week, and it's we're"},{"speaker":"Alan Smith","startTime":2528.1189999999997,"endTime":2531.299,"body":"in a, like, a great new"},{"speaker":"Alan Smith","startTime":2528.1189999999997,"endTime":2531.299,"body":"environment as a platform for"},{"speaker":"Alan Smith","startTime":2531.299,"endTime":2535.0789999999997,"body":"growth. And we've hired not one,"},{"speaker":"Alan Smith","startTime":2531.299,"endTime":2535.0789999999997,"body":"but two new financial planners"},{"speaker":"Alan Smith","startTime":2535.0789999999997,"endTime":2537.859,"body":"to the team for a team they only"},{"speaker":"Alan Smith","startTime":2535.0789999999997,"endTime":2537.859,"body":"had fours. If you say, if we"},{"speaker":"Alan Smith","startTime":2537.859,"endTime":2542.179,"body":"increase our planning headcount"},{"speaker":"Alan Smith","startTime":2537.859,"endTime":2542.179,"body":"by 50% that sort of all goes"},{"speaker":"Alan Smith","startTime":2542.179,"endTime":2545.959,"body":"well for the future. So another"},{"speaker":"Alan Smith","startTime":2542.179,"endTime":2545.959,"body":"long story short, we had a solid"},{"speaker":"Alan Smith","startTime":2546.259,"endTime":2550.519,"body":"good year at the main, you know,"},{"speaker":"Alan Smith","startTime":2546.259,"endTime":2550.519,"body":"the main business. That's one."},{"speaker":"Nick Lincoln","startTime":2550.8199999999997,"endTime":2552.8599999999997,"body":"Okay, lovely."},{"speaker":"Nick Lincoln","startTime":2550.8199999999997,"endTime":2552.8599999999997,"body":"That's your first win of 2024."},{"speaker":"Nick Lincoln","startTime":2553.46,"endTime":2557.14,"body":"Ultra. Uh, Ultra. What's your"},{"speaker":"Nick Lincoln","startTime":2553.46,"endTime":2557.14,"body":"first one? Okay,"},{"speaker":"Andy Hart","startTime":2557.14,"endTime":2559.54,"body":"I'm going to start"},{"speaker":"Andy Hart","startTime":2557.14,"endTime":2559.54,"body":"off briefly mentioning humans"},{"speaker":"Andy Hart","startTime":2559.54,"endTime":2562.24,"body":"under management. I had two"},{"speaker":"Andy Hart","startTime":2559.54,"endTime":2562.24,"body":"conferences this year, and in"},{"speaker":"Andy Hart","startTime":2562.24,"endTime":2566.08,"body":"Cape Town, South Africa, in"},{"speaker":"Andy Hart","startTime":2562.24,"endTime":2566.08,"body":"September, we had our highest"},{"speaker":"Andy Hart","startTime":2566.08,"endTime":2570.7,"body":"ever score for a conference at"},{"speaker":"Andy Hart","startTime":2566.08,"endTime":2570.7,"body":"9.04 out of 10. And London then"},{"speaker":"Andy Hart","startTime":2570.7,"endTime":2575.44,"body":"followed in November, 8.88 but"},{"speaker":"Andy Hart","startTime":2570.7,"endTime":2575.44,"body":"the real success for humans"},{"speaker":"Andy Hart","startTime":2575.44,"endTime":2578.2799999999997,"body":"under management this year was"},{"speaker":"Andy Hart","startTime":2575.44,"endTime":2578.2799999999997,"body":"us building out humans under"},{"speaker":"Andy Hart","startTime":2578.2799999999997,"endTime":2582.7799999999997,"body":"management premium. We added an"},{"speaker":"Andy Hart","startTime":2578.2799999999997,"endTime":2582.7799999999997,"body":"additional net new subscribers"},{"speaker":"Andy Hart","startTime":2582.7799999999997,"endTime":2587.64,"body":"of about 150 so we're up to 360"},{"speaker":"Andy Hart","startTime":2582.7799999999997,"endTime":2587.64,"body":"members from 15 different"},{"speaker":"Andy Hart","startTime":2587.64,"endTime":2589.68,"body":"countries. So thank you,"},{"speaker":"Andy Hart","startTime":2587.64,"endTime":2589.68,"body":"everybody who's a member of"},{"speaker":"Andy Hart","startTime":2589.68,"endTime":2599.42,"body":"that. Thank you very much."},{"speaker":"Andy Hart","startTime":2589.68,"endTime":2599.42,"body":"Nicholas, so next year it's sort"},{"speaker":"Andy Hart","startTime":2599.42,"endTime":2599.66,"body":"of, it"},{"speaker":"Nick Lincoln","startTime":2602.239,"endTime":2603.499,"body":"goes up for 36"},{"speaker":"Nick Lincoln","startTime":2602.239,"endTime":2603.499,"body":"seconds,"},{"speaker":"Andy Hart","startTime":2605.42,"endTime":2607.7599999999998,"body":"right? So, so next"},{"speaker":"Andy Hart","startTime":2605.42,"endTime":2607.7599999999998,"body":"year, as much of the same,"},{"speaker":"Andy Hart","startTime":2607.8199999999997,"endTime":2610.64,"body":"really, conference in Cape Town,"},{"speaker":"Andy Hart","startTime":2607.8199999999997,"endTime":2610.64,"body":"conference in London, and trying"},{"speaker":"Andy Hart","startTime":2610.64,"endTime":2613.4,"body":"to build out humans under"},{"speaker":"Andy Hart","startTime":2610.64,"endTime":2613.4,"body":"management, Premium members to"},{"speaker":"Andy Hart","startTime":2613.4,"endTime":2618.52,"body":"500 that's the next North Star."},{"speaker":"Andy Hart","startTime":2613.4,"endTime":2618.52,"body":"Over to you. Carl,"},{"speaker":"Nick Lincoln","startTime":2619.3599999999997,"endTime":2620.3199999999997,"body":"yes indeed, yes."},{"speaker":"Carl Widger","startTime":2621.1,"endTime":2626.2,"body":"As usual, I didn't"},{"speaker":"Carl Widger","startTime":2621.1,"endTime":2626.2,"body":"read the document correctly, so"},{"speaker":"Carl Widger","startTime":2626.2599999999998,"endTime":2629.8599999999997,"body":"I kind of took it as what were"},{"speaker":"Carl Widger","startTime":2626.2599999999998,"endTime":2629.8599999999997,"body":"the kind of lessons from the"},{"speaker":"Carl Widger","startTime":2629.8599999999997,"endTime":2633.22,"body":"year? So I would say that's"},{"speaker":"Carl Widger","startTime":2629.8599999999997,"endTime":2633.22,"body":"fine, both personally and"},{"speaker":"Carl Widger","startTime":2633.22,"endTime":2638.2799999999997,"body":"business wise. There were a"},{"speaker":"Carl Widger","startTime":2633.22,"endTime":2638.2799999999997,"body":"number of milestones that I"},{"speaker":"Carl Widger","startTime":2639.0,"endTime":2644.2799999999997,"body":"crossed. Is that the am I mixing"},{"speaker":"Carl Widger","startTime":2639.0,"endTime":2644.2799999999997,"body":"my metaphors here? But yeah, it"},{"speaker":"Carl Widger","startTime":2644.2799999999997,"endTime":2651.06,"body":"was. It was a very significant"},{"speaker":"Carl Widger","startTime":2644.2799999999997,"endTime":2651.06,"body":"year me, and I would say the one"},{"speaker":"Carl Widger","startTime":2651.06,"endTime":2656.8399999999997,"body":"thing that I I have struggled"},{"speaker":"Carl Widger","startTime":2651.06,"endTime":2656.8399999999997,"body":"with in the past, and I think I"},{"speaker":"Carl Widger","startTime":2656.8399999999997,"endTime":2661.58,"body":"nailed it this year, much better"},{"speaker":"Carl Widger","startTime":2656.8399999999997,"endTime":2661.58,"body":"than I have done beforehand, but"},{"speaker":"Carl Widger","startTime":2661.58,"endTime":2666.3199999999997,"body":"it's still work in progress. Is,"},{"speaker":"Carl Widger","startTime":2661.58,"endTime":2666.3199999999997,"body":"for me, consistency was the"},{"speaker":"Carl Widger","startTime":2666.3199999999997,"endTime":2671.42,"body":"intensity. Okay? So my great"},{"speaker":"Carl Widger","startTime":2666.3199999999997,"endTime":2671.42,"body":"friend, Joe O'Connor, has given"},{"speaker":"Carl Widger","startTime":2671.42,"endTime":2674.18,"body":"me this phrase, and he just"},{"speaker":"Carl Widger","startTime":2671.42,"endTime":2674.18,"body":"keeps on pinging it to me,"},{"speaker":"Carl Widger","startTime":2674.18,"endTime":2677.68,"body":"right? And it's, it's, you know,"},{"speaker":"Carl Widger","startTime":2674.18,"endTime":2677.68,"body":"I would have had an awful habit"},{"speaker":"Carl Widger","startTime":2677.68,"endTime":2680.92,"body":"of doing something really"},{"speaker":"Carl Widger","startTime":2677.68,"endTime":2680.92,"body":"intensely for a short period of"},{"speaker":"Carl Widger","startTime":2680.92,"endTime":2685.9,"body":"time and then actually not"},{"speaker":"Carl Widger","startTime":2680.92,"endTime":2685.9,"body":"making it part of a business"},{"speaker":"Carl Widger","startTime":2685.9,"endTime":2690.1,"body":"strategy change or a personal"},{"speaker":"Carl Widger","startTime":2685.9,"endTime":2690.1,"body":"lifestyle change. So for me, the"},{"speaker":"Carl Widger","startTime":2690.1,"endTime":2695.2,"body":"consistency was the intensity"},{"speaker":"Carl Widger","startTime":2690.1,"endTime":2695.2,"body":"and yeah, hitting milestones is"},{"speaker":"Carl Widger","startTime":2695.2,"endTime":2698.3399999999997,"body":"lovely, but not to actually make"},{"speaker":"Carl Widger","startTime":2695.2,"endTime":2698.3399999999997,"body":"them the be all and end all."},{"speaker":"Carl Widger","startTime":2698.3399999999997,"endTime":2703.92,"body":"It's like, okay, that's going to"},{"speaker":"Carl Widger","startTime":2698.3399999999997,"endTime":2703.92,"body":"just help me drive on and just"},{"speaker":"Carl Widger","startTime":2703.92,"endTime":2707.22,"body":"be better, as opposed to having"},{"speaker":"Carl Widger","startTime":2703.92,"endTime":2707.22,"body":"this kind of North Star moment"},{"speaker":"Carl Widger","startTime":2707.22,"endTime":2711.2999999999997,"body":"over there. It's like, yeah,"},{"speaker":"Carl Widger","startTime":2707.22,"endTime":2711.2999999999997,"body":"it's just life. Life's at this"},{"speaker":"Carl Widger","startTime":2711.3599999999997,"endTime":2718.16,"body":"big, long, brilliant, hard,"},{"speaker":"Carl Widger","startTime":2711.3599999999997,"endTime":2718.16,"body":"messy journey. And to understand"},{"speaker":"Carl Widger","startTime":2718.16,"endTime":2723.02,"body":"that much, much better, and to"},{"speaker":"Carl Widger","startTime":2718.16,"endTime":2723.02,"body":"have this consistency is the"},{"speaker":"Carl Widger","startTime":2723.02,"endTime":2725.72,"body":"intensity. That's my phrase of"},{"speaker":"Carl Widger","startTime":2723.02,"endTime":2725.72,"body":"the year anyway."},{"speaker":"Nick Lincoln","startTime":2725.719,"endTime":2727.219,"body":"That's lovely."},{"speaker":"Nick Lincoln","startTime":2725.719,"endTime":2727.219,"body":"That's excellent. That's"},{"speaker":"Nick Lincoln","startTime":2727.219,"endTime":2731.959,"body":"excellent. Thank you, Carl, for"},{"speaker":"Nick Lincoln","startTime":2727.219,"endTime":2731.959,"body":"me. What my first win, my first"},{"speaker":"Nick Lincoln","startTime":2731.959,"endTime":2734.959,"body":"thing that I'm gonna look back"},{"speaker":"Nick Lincoln","startTime":2731.959,"endTime":2734.959,"body":"on 2024 and think, yeah, that"},{"speaker":"Nick Lincoln","startTime":2734.959,"endTime":2738.019,"body":"was really good. Was just the"},{"speaker":"Nick Lincoln","startTime":2734.959,"endTime":2738.019,"body":"evolution of trap. Carmel"},{"speaker":"Nick Lincoln","startTime":2738.019,"endTime":2743.1389999999997,"body":"actually really in trap live at"},{"speaker":"Nick Lincoln","startTime":2738.019,"endTime":2743.1389999999997,"body":"Lola's and now defunct podcast"},{"speaker":"Nick Lincoln","startTime":2743.1389999999997,"endTime":2746.979,"body":"for a new coincidence. Who"},{"speaker":"Nick Lincoln","startTime":2743.1389999999997,"endTime":2746.979,"body":"knows? Really loved it. I just"},{"speaker":"Nick Lincoln","startTime":2746.979,"endTime":2749.859,"body":"had such a great time. It was a"},{"speaker":"Nick Lincoln","startTime":2746.979,"endTime":2749.859,"body":"great event. My wife was there,"},{"speaker":"Nick Lincoln","startTime":2749.859,"endTime":2753.819,"body":"my boy was there. It was lovely."},{"speaker":"Nick Lincoln","startTime":2749.859,"endTime":2753.819,"body":"And just through the year that"},{"speaker":"Nick Lincoln","startTime":2753.879,"endTime":2757.0789999999997,"body":"the respect and support and"},{"speaker":"Nick Lincoln","startTime":2753.879,"endTime":2757.0789999999997,"body":"feedback we've had from the"},{"speaker":"Nick Lincoln","startTime":2757.0789999999997,"endTime":2759.5989999999997,"body":"TRAPPIST has just been"},{"speaker":"Nick Lincoln","startTime":2757.0789999999997,"endTime":2759.5989999999997,"body":"absolutely amazing. Think us,"},{"speaker":"Nick Lincoln","startTime":2759.5989999999997,"endTime":2763.859,"body":"for dunderheads, can have such"},{"speaker":"Nick Lincoln","startTime":2759.5989999999997,"endTime":2763.859,"body":"an influence. And it's not"},{"speaker":"Nick Lincoln","startTime":2763.859,"endTime":2767.279,"body":"boastful to say we are having"},{"speaker":"Nick Lincoln","startTime":2763.859,"endTime":2767.279,"body":"influence, because we bloody"},{"speaker":"Nick Lincoln","startTime":2767.279,"endTime":2770.459,"body":"well are which is, which is"},{"speaker":"Nick Lincoln","startTime":2767.279,"endTime":2770.459,"body":"great. But people are so kind"},{"speaker":"Nick Lincoln","startTime":2770.459,"endTime":2772.979,"body":"and so generous in their time."},{"speaker":"Nick Lincoln","startTime":2770.459,"endTime":2772.979,"body":"We're generous in our time. But"},{"speaker":"Nick Lincoln","startTime":2772.979,"endTime":2775.499,"body":"I just, I think we've really got"},{"speaker":"Nick Lincoln","startTime":2772.979,"endTime":2775.499,"body":"something good going here, and"},{"speaker":"Nick Lincoln","startTime":2775.499,"endTime":2779.5989999999997,"body":"it's a two way. Conversation."},{"speaker":"Nick Lincoln","startTime":2775.499,"endTime":2779.5989999999997,"body":"You've got these mad, you know,"},{"speaker":"Nick Lincoln","startTime":2779.5989999999997,"endTime":2783.979,"body":"ultra fans just, just really,"},{"speaker":"Nick Lincoln","startTime":2779.5989999999997,"endTime":2783.979,"body":"really, so that's my, that's my"},{"speaker":"Nick Lincoln","startTime":2784.0389999999998,"endTime":2787.399,"body":"top one for the Okay, doing the"},{"speaker":"Nick Lincoln","startTime":2784.0389999999998,"endTime":2787.399,"body":"round robin. We're going to go"},{"speaker":"Nick Lincoln","startTime":2787.399,"endTime":2788.5389999999998,"body":"back to storyteller."},{"speaker":"Alan Smith","startTime":2789.92,"endTime":2792.2,"body":"Yeah, what Carl just"},{"speaker":"Alan Smith","startTime":2789.92,"endTime":2792.2,"body":"said? Oh,"},{"speaker":"Nick Lincoln","startTime":2792.2,"endTime":2794.48,"body":"by the way, just,"},{"speaker":"Nick Lincoln","startTime":2792.2,"endTime":2794.48,"body":"sorry, Alan, just, I've just got"},{"speaker":"Nick Lincoln","startTime":2794.48,"endTime":2797.8599999999997,"body":"the chat. Vanguard are great"},{"speaker":"Nick Lincoln","startTime":2794.48,"endTime":2797.8599999999997,"body":"friends of trap and work. Trap"},{"speaker":"Nick Lincoln","startTime":2797.8599999999997,"endTime":2800.5,"body":"live and we love you. Vanguard,"},{"speaker":"Nick Lincoln","startTime":2797.8599999999997,"endTime":2800.5,"body":"sorry. Back to you. Smithy,"},{"speaker":"Alan Smith","startTime":2801.58,"endTime":2804.1,"body":"yeah, that's right,"},{"speaker":"Alan Smith","startTime":2801.58,"endTime":2804.1,"body":"but we like we expect, we hold"},{"speaker":"Alan Smith","startTime":2804.1,"endTime":2806.7999999999997,"body":"everyone accountable. We just we"},{"speaker":"Alan Smith","startTime":2804.1,"endTime":2806.7999999999997,"body":"share, we share the love, share"},{"speaker":"Alan Smith","startTime":2806.7999999999997,"endTime":2808.96,"body":"the good, share the bad."},{"speaker":"Alan Smith","startTime":2806.7999999999997,"endTime":2808.96,"body":"Vanguard, our next outstanding"},{"speaker":"Alan Smith","startTime":2808.96,"endTime":2814.7799999999997,"body":"business. Relating back to what"},{"speaker":"Alan Smith","startTime":2808.96,"endTime":2814.7799999999997,"body":"Carl just said, I think we ought"},{"speaker":"Alan Smith","startTime":2814.7799999999997,"endTime":2817.2599999999998,"body":"to, rather than just say, you"},{"speaker":"Alan Smith","startTime":2814.7799999999997,"endTime":2817.2599999999998,"body":"know, pat ourselves the bat."},{"speaker":"Alan Smith","startTime":2817.2599999999998,"endTime":2819.96,"body":"Didn't we do good? There is an"},{"speaker":"Alan Smith","startTime":2817.2599999999998,"endTime":2819.96,"body":"opportunity to say, what was the"},{"speaker":"Alan Smith","startTime":2819.96,"endTime":2821.88,"body":"what was the lesson? What was"},{"speaker":"Alan Smith","startTime":2819.96,"endTime":2821.88,"body":"the take away?"},{"speaker":"Unknown","startTime":2822.48,"endTime":2825.72,"body":"It's, well, not good,"},{"speaker":"Unknown","startTime":2822.48,"endTime":2825.72,"body":"but fine. And just going"},{"speaker":"Alan Smith","startTime":2825.719,"endTime":2827.999,"body":"back to that. So we"},{"speaker":"Alan Smith","startTime":2825.719,"endTime":2827.999,"body":"did have a good year in"},{"speaker":"Alan Smith","startTime":2827.999,"endTime":2830.519,"body":"business, one I mentioned a"},{"speaker":"Alan Smith","startTime":2827.999,"endTime":2830.519,"body":"moments ago. And I think one of"},{"speaker":"Alan Smith","startTime":2830.519,"endTime":2834.419,"body":"the things that we did was this"},{"speaker":"Alan Smith","startTime":2830.519,"endTime":2834.419,"body":"magic word simplify. We've"},{"speaker":"Alan Smith","startTime":2834.419,"endTime":2837.6189999999997,"body":"simplified the business. We were"},{"speaker":"Alan Smith","startTime":2834.419,"endTime":2837.6189999999997,"body":"kind of all over the place, as"},{"speaker":"Alan Smith","startTime":2837.6189999999997,"endTime":2840.379,"body":"everyone knows, I'm I've got an"},{"speaker":"Alan Smith","startTime":2837.6189999999997,"endTime":2840.379,"body":"eye for shiny new objects. The"},{"speaker":"Alan Smith","startTime":2840.379,"endTime":2842.959,"body":"amount of technology we had in"},{"speaker":"Alan Smith","startTime":2840.379,"endTime":2842.959,"body":"the company, just layer upon"},{"speaker":"Alan Smith","startTime":2842.959,"endTime":2847.159,"body":"layer of all sorts of stuff and"},{"speaker":"Alan Smith","startTime":2842.959,"endTime":2847.159,"body":"and what we did was just kind of"},{"speaker":"Alan Smith","startTime":2847.159,"endTime":2850.459,"body":"really streamline things and"},{"speaker":"Alan Smith","startTime":2847.159,"endTime":2850.459,"body":"just almost kind of that back to"},{"speaker":"Alan Smith","startTime":2850.459,"endTime":2852.679,"body":"basics if we're starting a"},{"speaker":"Alan Smith","startTime":2850.459,"endTime":2852.679,"body":"business. We did that in the"},{"speaker":"Alan Smith","startTime":2852.679,"endTime":2855.319,"body":"beginning of the year, January"},{"speaker":"Alan Smith","startTime":2852.679,"endTime":2855.319,"body":"last year. Sorry, January this"},{"speaker":"Alan Smith","startTime":2855.319,"endTime":2860.0789999999997,"body":"year. So simplify, I think, is"},{"speaker":"Alan Smith","startTime":2855.319,"endTime":2860.0789999999997,"body":"one thing to take away from that"},{"speaker":"Alan Smith","startTime":2860.0789999999997,"endTime":2862.959,"body":"that really helped us get super"},{"speaker":"Alan Smith","startTime":2860.0789999999997,"endTime":2862.959,"body":"clear on what our goals and"},{"speaker":"Alan Smith","startTime":2862.959,"endTime":2866.259,"body":"objectives were. And removing"},{"speaker":"Alan Smith","startTime":2862.959,"endTime":2866.259,"body":"things can often be far, far"},{"speaker":"Alan Smith","startTime":2866.259,"endTime":2869.439,"body":"better than adding more things"},{"speaker":"Alan Smith","startTime":2866.259,"endTime":2869.439,"body":"in terms of systems, processes"},{"speaker":"Alan Smith","startTime":2869.439,"endTime":2873.0389999999998,"body":"and technology, so that that's"},{"speaker":"Alan Smith","startTime":2869.439,"endTime":2873.0389999999998,"body":"just, sort of just to cap off my"},{"speaker":"Alan Smith","startTime":2873.0389999999998,"endTime":2878.399,"body":"previous one, my the second one"},{"speaker":"Alan Smith","startTime":2873.0389999999998,"endTime":2878.399,"body":"of success and Nick, yeah,"},{"speaker":"Alan Smith","startTime":2878.399,"endTime":2881.999,"body":"absolutely, trap has been an"},{"speaker":"Alan Smith","startTime":2878.399,"endTime":2881.999,"body":"outstanding success. I don't"},{"speaker":"Alan Smith","startTime":2881.999,"endTime":2884.699,"body":"think I've mentioned it before"},{"speaker":"Alan Smith","startTime":2881.999,"endTime":2884.699,"body":"on this podcast, but I've got"},{"speaker":"Alan Smith","startTime":2884.699,"endTime":2891.239,"body":"another podcast as well that"},{"speaker":"Alan Smith","startTime":2884.699,"endTime":2891.239,"body":"goes under the title bulletproof"},{"speaker":"Alan Smith","startTime":2891.239,"endTime":2894.299,"body":"entrepreneur, and it's designed"},{"speaker":"Alan Smith","startTime":2891.239,"endTime":2894.299,"body":"for business owners, anyone, not"},{"speaker":"Alan Smith","startTime":2894.299,"endTime":2897.319,"body":"necessarily financial services,"},{"speaker":"Alan Smith","startTime":2894.299,"endTime":2897.319,"body":"anyone across the board, and"},{"speaker":"Alan Smith","startTime":2897.319,"endTime":2901.759,"body":"it's and during it, I interview"},{"speaker":"Alan Smith","startTime":2897.319,"endTime":2901.759,"body":"and I talk with predominantly"},{"speaker":"Alan Smith","startTime":2901.759,"endTime":2904.699,"body":"successful business owners, or"},{"speaker":"Alan Smith","startTime":2901.759,"endTime":2904.699,"body":"people who advise business"},{"speaker":"Alan Smith","startTime":2904.699,"endTime":2907.819,"body":"owners and and they all tell a"},{"speaker":"Alan Smith","startTime":2904.699,"endTime":2907.819,"body":"story. They tell various"},{"speaker":"Alan Smith","startTime":2907.819,"endTime":2912.199,"body":"stories. And what I'm proud of"},{"speaker":"Alan Smith","startTime":2907.819,"endTime":2912.199,"body":"this year is between trap and"},{"speaker":"Alan Smith","startTime":2912.499,"endTime":2915.499,"body":"the bulletproof entrepreneur. I"},{"speaker":"Alan Smith","startTime":2912.499,"endTime":2915.499,"body":"put out, I think must have done"},{"speaker":"Alan Smith","startTime":2915.499,"endTime":2918.399,"body":"about 50 podcasts, because they"},{"speaker":"Alan Smith","startTime":2915.499,"endTime":2918.399,"body":"go out every week. This"},{"speaker":"Alan Smith","startTime":2918.519,"endTime":2921.699,"body":"bulletproof alternates with"},{"speaker":"Alan Smith","startTime":2918.519,"endTime":2921.699,"body":"trap, because every other"},{"speaker":"Alan Smith","startTime":2921.999,"endTime":2926.439,"body":"Thursday, as as trap does so in"},{"speaker":"Alan Smith","startTime":2921.999,"endTime":2926.439,"body":"52 weeks. And we haven't missed"},{"speaker":"Alan Smith","startTime":2926.439,"endTime":2929.0789999999997,"body":"one of trap. I haven't missed"},{"speaker":"Alan Smith","startTime":2926.439,"endTime":2929.0789999999997,"body":"one good bulletproof. That's"},{"speaker":"Alan Smith","startTime":2929.0789999999997,"endTime":2933.159,"body":"5050, odd episodes going out"},{"speaker":"Alan Smith","startTime":2929.0789999999997,"endTime":2933.159,"body":"every week. And consistency,"},{"speaker":"Alan Smith","startTime":2933.159,"endTime":2935.679,"body":"again, consistent. And that's"},{"speaker":"Alan Smith","startTime":2933.159,"endTime":2935.679,"body":"and that's the point of that,"},{"speaker":"Alan Smith","startTime":2935.679,"endTime":2939.179,"body":"and it means same as traps. Some"},{"speaker":"Alan Smith","startTime":2935.679,"endTime":2939.179,"body":"of my episodes haven't been"},{"speaker":"Alan Smith","startTime":2939.299,"endTime":2942.5389999999998,"body":"amazing, and they've all been at"},{"speaker":"Alan Smith","startTime":2939.299,"endTime":2942.5389999999998,"body":"least decent, but some are some"},{"speaker":"Alan Smith","startTime":2942.5389999999998,"endTime":2945.5389999999998,"body":"have been fabulous. And I I've"},{"speaker":"Alan Smith","startTime":2942.5389999999998,"endTime":2945.5389999999998,"body":"often said for that particular"},{"speaker":"Alan Smith","startTime":2945.5389999999998,"endTime":2948.959,"body":"book, because I am a small"},{"speaker":"Alan Smith","startTime":2945.5389999999998,"endTime":2948.959,"body":"business owner myself, if I was"},{"speaker":"Alan Smith","startTime":2949.259,"endTime":2951.719,"body":"the only person listening, I"},{"speaker":"Alan Smith","startTime":2949.259,"endTime":2951.719,"body":"still get something from it. I"},{"speaker":"Alan Smith","startTime":2951.719,"endTime":2953.6389999999997,"body":"get an hour, an hour, an hour"},{"speaker":"Alan Smith","startTime":2951.719,"endTime":2953.6389999999997,"body":"and a half of speaking to"},{"speaker":"Alan Smith","startTime":2953.6389999999997,"endTime":2956.0989999999997,"body":"someone who's a successful"},{"speaker":"Alan Smith","startTime":2953.6389999999997,"endTime":2956.0989999999997,"body":"business owner, who's always got"},{"speaker":"Alan Smith","startTime":2956.0989999999997,"endTime":2958.5789999999997,"body":"a story to tell. And I've really"},{"speaker":"Alan Smith","startTime":2956.0989999999997,"endTime":2958.5789999999997,"body":"enjoyed it. And we do have,"},{"speaker":"Alan Smith","startTime":2958.5789999999997,"endTime":2960.979,"body":"fortunately, more than one"},{"speaker":"Alan Smith","startTime":2958.5789999999997,"endTime":2960.979,"body":"person as an audience. It's not"},{"speaker":"Alan Smith","startTime":2960.979,"endTime":2964.219,"body":"quite as big as trap, but it"},{"speaker":"Alan Smith","startTime":2960.979,"endTime":2964.219,"body":"does have a niche and growing"},{"speaker":"Alan Smith","startTime":2964.399,"endTime":2966.6189999999997,"body":"audience. And I've really,"},{"speaker":"Alan Smith","startTime":2964.399,"endTime":2966.6189999999997,"body":"really enjoyed doing it. So"},{"speaker":"Alan Smith","startTime":2966.6189999999997,"endTime":2970.519,"body":"pushing out 50 episodes. I mean,"},{"speaker":"Alan Smith","startTime":2966.6189999999997,"endTime":2970.519,"body":"I'm no spring chicken, and that"},{"speaker":"Alan Smith","startTime":2970.519,"endTime":2973.399,"body":"is, again, that we advise other"},{"speaker":"Alan Smith","startTime":2970.519,"endTime":2973.399,"body":"people and younger advisors and"},{"speaker":"Alan Smith","startTime":2973.399,"endTime":2976.5389999999998,"body":"what have you, because show up"},{"speaker":"Alan Smith","startTime":2973.399,"endTime":2976.5389999999998,"body":"every day, week after week. It"},{"speaker":"Alan Smith","startTime":2976.5389999999998,"endTime":2979.299,"body":"doesn't have to be the best work"},{"speaker":"Alan Smith","startTime":2976.5389999999998,"endTime":2979.299,"body":"ever in the history of the"},{"speaker":"Alan Smith","startTime":2979.299,"endTime":2982.839,"body":"world, but it's just some work."},{"speaker":"Alan Smith","startTime":2979.299,"endTime":2982.839,"body":"Push it out. Week after week,"},{"speaker":"Alan Smith","startTime":2983.199,"endTime":2986.199,"body":"month after month, you'll get"},{"speaker":"Alan Smith","startTime":2983.199,"endTime":2986.199,"body":"you will make progress. It is"},{"speaker":"Alan Smith","startTime":2986.199,"endTime":2989.919,"body":"inevitable. It's impossible not"},{"speaker":"Alan Smith","startTime":2986.199,"endTime":2989.919,"body":"to make progress. So I was proud"},{"speaker":"Alan Smith","startTime":2989.919,"endTime":2992.679,"body":"of 2024 in terms of podcast"},{"speaker":"Alan Smith","startTime":2989.919,"endTime":2992.679,"body":"creation."},{"speaker":"Andy Hart","startTime":2993.04,"endTime":2996.04,"body":"Have you got some"},{"speaker":"Andy Hart","startTime":2993.04,"endTime":2996.04,"body":"big, heavy hitter guests playing"},{"speaker":"Andy Hart","startTime":2996.04,"endTime":2997.0,"body":"for 25 Alan,"},{"speaker":"Alan Smith","startTime":2997.479,"endTime":2999.179,"body":"I do. I've got a"},{"speaker":"Alan Smith","startTime":2997.479,"endTime":2999.179,"body":"number of people. I mean, don't"},{"speaker":"Alan Smith","startTime":2999.179,"endTime":3004.6389999999997,"body":"want to sort of dominate this"},{"speaker":"Alan Smith","startTime":2999.179,"endTime":3004.6389999999997,"body":"podcast, of course, pushing I've"},{"speaker":"Alan Smith","startTime":3004.6389999999997,"endTime":3007.879,"body":"done, I've always done them in"},{"speaker":"Alan Smith","startTime":3004.6389999999997,"endTime":3007.879,"body":"a, like a, like a zoom call,"},{"speaker":"Alan Smith","startTime":3007.879,"endTime":3010.819,"body":"like, Would you call this thing"},{"speaker":"Alan Smith","startTime":3007.879,"endTime":3010.819,"body":"Riverside that we use? You got a"},{"speaker":"Alan Smith","startTime":3010.819,"endTime":3014.959,"body":"studio, into a studio, so I can"},{"speaker":"Alan Smith","startTime":3010.819,"endTime":3014.959,"body":"have in person, face to face. So"},{"speaker":"Alan Smith","startTime":3014.959,"endTime":3017.259,"body":"with that, it's interesting."},{"speaker":"Alan Smith","startTime":3014.959,"endTime":3017.259,"body":"Actually, I never, I was never"},{"speaker":"Alan Smith","startTime":3017.259,"endTime":3020.499,"body":"bothered about having, you know,"},{"speaker":"Alan Smith","startTime":3017.259,"endTime":3020.499,"body":"YouTube style podcast. But it"},{"speaker":"Alan Smith","startTime":3020.499,"endTime":3024.399,"body":"seems the YouTube algorithm"},{"speaker":"Alan Smith","startTime":3020.499,"endTime":3024.399,"body":"really does help. Don't poke the"},{"speaker":"Alan Smith","startTime":3024.399,"endTime":3028.899,"body":"bear, I say. So to have a bit of"},{"speaker":"Alan Smith","startTime":3024.399,"endTime":3028.899,"body":"a studio or something. So with"},{"speaker":"Alan Smith","startTime":3028.899,"endTime":3032.019,"body":"that in mind, there's a few"},{"speaker":"Alan Smith","startTime":3028.899,"endTime":3032.019,"body":"people can't keep it, but I can,"},{"speaker":"Alan Smith","startTime":3032.0789999999997,"endTime":3036.5389999999998,"body":"yeah, I can move on. I won't say"},{"speaker":"Alan Smith","startTime":3032.0789999999997,"endTime":3036.5389999999998,"body":"any names, but some very some"},{"speaker":"Alan Smith","startTime":3036.5389999999998,"endTime":3040.919,"body":"quite high profile people in"},{"speaker":"Alan Smith","startTime":3036.5389999999998,"endTime":3040.919,"body":"North Watford, whereas Nick's"},{"speaker":"Alan Smith","startTime":3040.919,"endTime":3043.379,"body":"spare room, but his cat's using"},{"speaker":"Alan Smith","startTime":3040.919,"endTime":3043.379,"body":"it, I think, at the moment,"},{"speaker":"Alan Smith","startTime":3043.379,"endTime":3043.679,"body":"throwing"},{"speaker":"Nick Lincoln","startTime":3043.68,"endTime":3046.44,"body":"up in the spare"},{"speaker":"Nick Lincoln","startTime":3043.68,"endTime":3046.44,"body":"room, yeah, which when she's"},{"speaker":"Nick Lincoln","startTime":3046.44,"endTime":3048.7799999999997,"body":"allowed back in. It's getting"},{"speaker":"Nick Lincoln","startTime":3046.44,"endTime":3048.7799999999997,"body":"dark outside. What time do the"},{"speaker":"Nick Lincoln","startTime":3048.7799999999997,"endTime":3049.62,"body":"foxes come out?"},{"speaker":"Unknown","startTime":3049.74,"endTime":3053.94,"body":"I could be in trouble"},{"speaker":"Unknown","startTime":3049.74,"endTime":3053.94,"body":"here in North Watford anytime."},{"speaker":"Nick Lincoln","startTime":3054.12,"endTime":3057.44,"body":"Okay. Thank you."},{"speaker":"Nick Lincoln","startTime":3054.12,"endTime":3057.44,"body":"Smithy Ultra, your second win of"},{"speaker":"Nick Lincoln","startTime":3057.44,"endTime":3057.7999999999997,"body":"the year."},{"speaker":"Andy Hart","startTime":3058.759,"endTime":3061.939,"body":"I'd also echo track"},{"speaker":"Andy Hart","startTime":3058.759,"endTime":3061.939,"body":"live was something none of us"},{"speaker":"Andy Hart","startTime":3061.939,"endTime":3064.339,"body":"have tried before, and I think"},{"speaker":"Andy Hart","startTime":3061.939,"endTime":3064.339,"body":"it's really, really been done in"},{"speaker":"Andy Hart","startTime":3064.339,"endTime":3067.519,"body":"our profession. This thing of"},{"speaker":"Andy Hart","startTime":3064.339,"endTime":3067.519,"body":"ours live podcasts are becoming"},{"speaker":"Andy Hart","startTime":3067.519,"endTime":3071.1189999999997,"body":"bigger and bigger. So yeah,"},{"speaker":"Andy Hart","startTime":3067.519,"endTime":3071.1189999999997,"body":"looking forward to 2025. My next"},{"speaker":"Andy Hart","startTime":3071.1189999999997,"endTime":3074.299,"body":"win. It was major advisor,"},{"speaker":"Andy Hart","startTime":3071.1189999999997,"endTime":3074.299,"body":"really client families that we"},{"speaker":"Andy Hart","startTime":3074.299,"endTime":3077.1389999999997,"body":"look after, and it's a win."},{"speaker":"Andy Hart","startTime":3074.299,"endTime":3077.1389999999997,"body":"That, you know, they were"},{"speaker":"Andy Hart","startTime":3077.1389999999997,"endTime":3079.899,"body":"handsomely rewarded from an"},{"speaker":"Andy Hart","startTime":3077.1389999999997,"endTime":3079.899,"body":"investment point of view."},{"speaker":"Andy Hart","startTime":3080.439,"endTime":3083.199,"body":"Obviously, it's not all about"},{"speaker":"Andy Hart","startTime":3080.439,"endTime":3083.199,"body":"returns. We know that planning"},{"speaker":"Andy Hart","startTime":3083.199,"endTime":3085.479,"body":"is more important than all the"},{"speaker":"Andy Hart","startTime":3083.199,"endTime":3085.479,"body":"other stuff that we do, but"},{"speaker":"Andy Hart","startTime":3085.479,"endTime":3089.0789999999997,"body":"every, every, you know, we'll"},{"speaker":"Andy Hart","startTime":3085.479,"endTime":3089.0789999999997,"body":"take it when the when the years"},{"speaker":"Andy Hart","startTime":3089.0789999999997,"endTime":3091.479,"body":"come along that handsomely"},{"speaker":"Andy Hart","startTime":3089.0789999999997,"endTime":3091.479,"body":"reward our clients for being"},{"speaker":"Andy Hart","startTime":3091.479,"endTime":3094.779,"body":"patient and disciplined, and"},{"speaker":"Andy Hart","startTime":3091.479,"endTime":3094.779,"body":"then we usually have then a sort"},{"speaker":"Andy Hart","startTime":3094.779,"endTime":3097.6189999999997,"body":"of a different floor going"},{"speaker":"Andy Hart","startTime":3094.779,"endTime":3097.6189999999997,"body":"forward. So yeah, I've got no"},{"speaker":"Andy Hart","startTime":3097.6189999999997,"endTime":3100.199,"body":"problem with creating wealth for"},{"speaker":"Andy Hart","startTime":3097.6189999999997,"endTime":3100.199,"body":"our clients, because wealth is"},{"speaker":"Andy Hart","startTime":3100.199,"endTime":3104.159,"body":"freedom. Freedom is opportunity."},{"speaker":"Andy Hart","startTime":3100.199,"endTime":3104.159,"body":"So yeah, 2024 was a great year."},{"speaker":"Andy Hart","startTime":3104.819,"endTime":3108.179,"body":"The average of the one I look"},{"speaker":"Andy Hart","startTime":3104.819,"endTime":3108.179,"body":"after is an 880, 5% global"},{"speaker":"Andy Hart","startTime":3108.179,"endTime":3111.1189999999997,"body":"equities, and that's obviously"},{"speaker":"Andy Hart","startTime":3108.179,"endTime":3111.1189999999997,"body":"done stomping returns this year."},{"speaker":"Andy Hart","startTime":3111.1189999999997,"endTime":3115.319,"body":"So that's another win for me."},{"speaker":"Andy Hart","startTime":3111.1189999999997,"endTime":3115.319,"body":"Over to you, Carl,"},{"speaker":"Carl Widger","startTime":3116.52,"endTime":3120.38,"body":"so this one is a"},{"speaker":"Carl Widger","startTime":3116.52,"endTime":3120.38,"body":"bit fluffy, too. Sorry with that"},{"speaker":"Carl Widger","startTime":3121.1,"endTime":3133.1,"body":"so I so we've got 25 people,"},{"speaker":"Carl Widger","startTime":3121.1,"endTime":3133.1,"body":"oops. George my"},{"speaker":"Unknown","startTime":3137.14,"endTime":3137.98,"body":"Oh George,"},{"speaker":"Carl Widger","startTime":3141.16,"endTime":3144.7599999999998,"body":"yeah, it's probably"},{"speaker":"Carl Widger","startTime":3141.16,"endTime":3144.7599999999998,"body":"a perfect fitting with my"},{"speaker":"Carl Widger","startTime":3144.7599999999998,"endTime":3150.2799999999997,"body":"mindset right now. I'm very,"},{"speaker":"Carl Widger","startTime":3144.7599999999998,"endTime":3150.2799999999997,"body":"very, very excited for life in"},{"speaker":"Carl Widger","startTime":3150.2799999999997,"endTime":3154.2999999999997,"body":"general at the moment, boys, so"},{"speaker":"Carl Widger","startTime":3150.2799999999997,"endTime":3154.2999999999997,"body":"I would say we've added a lot of"},{"speaker":"Carl Widger","startTime":3154.2999999999997,"endTime":3158.52,"body":"people to our team at Metis and"},{"speaker":"Carl Widger","startTime":3154.2999999999997,"endTime":3158.52,"body":"the other way they say, you know"},{"speaker":"Carl Widger","startTime":3158.52,"endTime":3161.3399999999997,"body":"about talking about culture, and"},{"speaker":"Carl Widger","startTime":3158.52,"endTime":3161.3399999999997,"body":"you got to create this culture."},{"speaker":"Carl Widger","startTime":3161.88,"endTime":3165.7799999999997,"body":"I actually believe we've got it"},{"speaker":"Carl Widger","startTime":3161.88,"endTime":3165.7799999999997,"body":"all wrong. I think actually what"},{"speaker":"Carl Widger","startTime":3165.7799999999997,"endTime":3169.98,"body":"you do, if you get really great"},{"speaker":"Carl Widger","startTime":3165.7799999999997,"endTime":3169.98,"body":"people who are ambitious and"},{"speaker":"Carl Widger","startTime":3169.98,"endTime":3172.92,"body":"want to fulfill their own"},{"speaker":"Carl Widger","startTime":3169.98,"endTime":3172.92,"body":"potential, that's actually how"},{"speaker":"Carl Widger","startTime":3172.92,"endTime":3176.66,"body":"you create a great culture. You"},{"speaker":"Carl Widger","startTime":3172.92,"endTime":3176.66,"body":"just gotta as the leader or the"},{"speaker":"Carl Widger","startTime":3176.66,"endTime":3179.9,"body":"manager or whatever. You gotta"},{"speaker":"Carl Widger","startTime":3176.66,"endTime":3179.9,"body":"just facilitate it and allow"},{"speaker":"Carl Widger","startTime":3179.9,"endTime":3186.44,"body":"people to just do great things"},{"speaker":"Carl Widger","startTime":3179.9,"endTime":3186.44,"body":"and just talk to them and ask"},{"speaker":"Carl Widger","startTime":3186.44,"endTime":3190.04,"body":"them. And I'm inspired by the"},{"speaker":"Carl Widger","startTime":3186.44,"endTime":3190.04,"body":"people around me, and I really"},{"speaker":"Carl Widger","startTime":3190.04,"endTime":3195.5,"body":"am, and I know, like, look, this"},{"speaker":"Carl Widger","startTime":3190.04,"endTime":3195.5,"body":"is really fluffy stuff. I'm sure"},{"speaker":"Carl Widger","startTime":3195.56,"endTime":3197.68,"body":"I know, because they tell me"},{"speaker":"Carl Widger","startTime":3195.56,"endTime":3197.68,"body":"that I drive them mad."},{"speaker":"Carl Widger","startTime":3197.68,"endTime":3202.0,"body":"Sometimes, do some of them drive"},{"speaker":"Carl Widger","startTime":3197.68,"endTime":3202.0,"body":"me mad? Sometimes, yes, they do."},{"speaker":"Carl Widger","startTime":3202.3599999999997,"endTime":3206.2599999999998,"body":"But together, we're all, we're"},{"speaker":"Carl Widger","startTime":3202.3599999999997,"endTime":3206.2599999999998,"body":"all going in the same direction."},{"speaker":"Carl Widger","startTime":3206.74,"endTime":3212.08,"body":"And you know, the it's just all"},{"speaker":"Carl Widger","startTime":3206.74,"endTime":3212.08,"body":"about people. Everything is just"},{"speaker":"Carl Widger","startTime":3212.08,"endTime":3215.5,"body":"all about people. Even, you"},{"speaker":"Carl Widger","startTime":3212.08,"endTime":3215.5,"body":"know, Andy and Nick as the as"},{"speaker":"Carl Widger","startTime":3215.5,"endTime":3218.64,"body":"the solos, right? It's all about"},{"speaker":"Carl Widger","startTime":3215.5,"endTime":3218.64,"body":"the people that you've got"},{"speaker":"Carl Widger","startTime":3218.64,"endTime":3223.62,"body":"around you and your support"},{"speaker":"Carl Widger","startTime":3218.64,"endTime":3223.62,"body":"structures as well. And you can"},{"speaker":"Carl Widger","startTime":3223.62,"endTime":3226.62,"body":"bring this into the personal"},{"speaker":"Carl Widger","startTime":3223.62,"endTime":3226.62,"body":"space as well. You know, the"},{"speaker":"Carl Widger","startTime":3226.62,"endTime":3230.22,"body":"people who I spend the vast"},{"speaker":"Carl Widger","startTime":3226.62,"endTime":3230.22,"body":"majority of my time with, I like"},{"speaker":"Carl Widger","startTime":3230.22,"endTime":3233.7599999999998,"body":"being around them. Yeah, you"},{"speaker":"Carl Widger","startTime":3230.22,"endTime":3233.7599999999998,"body":"know, I and they inspire me. And"},{"speaker":"Carl Widger","startTime":3234.06,"endTime":3237.5,"body":"do I drive them mad? Sometimes,"},{"speaker":"Carl Widger","startTime":3234.06,"endTime":3237.5,"body":"yes, do they drive E mad?"},{"speaker":"Carl Widger","startTime":3237.5,"endTime":3241.1,"body":"Sometimes? Yes, yes, but, but"},{"speaker":"Carl Widger","startTime":3237.5,"endTime":3241.1,"body":"you know what it's about. You"},{"speaker":"Carl Widger","startTime":3241.1,"endTime":3244.94,"body":"know, having your circle who you"},{"speaker":"Carl Widger","startTime":3241.1,"endTime":3244.94,"body":"know, having people who match or"},{"speaker":"Carl Widger","startTime":3244.94,"endTime":3248.7799999999997,"body":"align with the values that your"},{"speaker":"Carl Widger","startTime":3244.94,"endTime":3248.7799999999997,"body":"dreams, goals, aspirations,"},{"speaker":"Carl Widger","startTime":3248.7799999999997,"endTime":3253.22,"body":"where you want to go, and this"},{"speaker":"Carl Widger","startTime":3248.7799999999997,"endTime":3253.22,"body":"crazy thing called life. Yeah."},{"speaker":"Carl Widger","startTime":3253.22,"endTime":3260.2,"body":"So for me, I've never been as"},{"speaker":"Carl Widger","startTime":3253.22,"endTime":3260.2,"body":"sure as I am right now that"},{"speaker":"Carl Widger","startTime":3260.5,"endTime":3263.56,"body":"matters. Ireland is successful"},{"speaker":"Carl Widger","startTime":3260.5,"endTime":3263.56,"body":"because of the people in the"},{"speaker":"Carl Widger","startTime":3263.56,"endTime":3266.74,"body":"business. And it is not about"},{"speaker":"Carl Widger","startTime":3263.56,"endTime":3266.74,"body":"one or two or three people, it"},{"speaker":"Carl Widger","startTime":3266.74,"endTime":3270.22,"body":"is about every single person."},{"speaker":"Carl Widger","startTime":3266.74,"endTime":3270.22,"body":"And I keep telling them that,"},{"speaker":"Carl Widger","startTime":3270.52,"endTime":3274.18,"body":"and I don't think they they"},{"speaker":"Carl Widger","startTime":3270.52,"endTime":3274.18,"body":"sometimes believe it, but I"},{"speaker":"Carl Widger","startTime":3274.18,"endTime":3277.92,"body":"really, really, really do"},{"speaker":"Carl Widger","startTime":3274.18,"endTime":3277.92,"body":"believe it. Great people make"},{"speaker":"Carl Widger","startTime":3277.98,"endTime":3280.2599999999998,"body":"great cultures. It's not the"},{"speaker":"Carl Widger","startTime":3277.98,"endTime":3280.2599999999998,"body":"other way around."},{"speaker":"Nick Lincoln","startTime":3281.4,"endTime":3283.92,"body":"Great stuff,"},{"speaker":"Nick Lincoln","startTime":3281.4,"endTime":3283.92,"body":"lovely stuff. Okay, my second"},{"speaker":"Nick Lincoln","startTime":3283.92,"endTime":3287.16,"body":"one, very quick one, yes, a"},{"speaker":"Nick Lincoln","startTime":3283.92,"endTime":3287.16,"body":"rising market, raises all raises"},{"speaker":"Nick Lincoln","startTime":3287.16,"endTime":3290.3399999999997,"body":"all boats. And if we, if"},{"speaker":"Nick Lincoln","startTime":3287.16,"endTime":3290.3399999999997,"body":"advisors, that charge on the per"},{"speaker":"Nick Lincoln","startTime":3290.3399999999997,"endTime":3292.56,"body":"diem basis, the percentage"},{"speaker":"Nick Lincoln","startTime":3290.3399999999997,"endTime":3292.56,"body":"basis, you should have had a"},{"speaker":"Nick Lincoln","startTime":3292.56,"endTime":3295.02,"body":"very good year. And I've had a"},{"speaker":"Nick Lincoln","startTime":3292.56,"endTime":3295.02,"body":"very good year, my best year in"},{"speaker":"Nick Lincoln","startTime":3295.02,"endTime":3297.24,"body":"terms of turnover. It's a"},{"speaker":"Nick Lincoln","startTime":3295.02,"endTime":3297.24,"body":"lifestyle business, but it'll"},{"speaker":"Nick Lincoln","startTime":3297.2999999999997,"endTime":3299.96,"body":"still be my best year in terms"},{"speaker":"Nick Lincoln","startTime":3297.2999999999997,"endTime":3299.96,"body":"of turnover. Terms of turnover."},{"speaker":"Nick Lincoln","startTime":3299.96,"endTime":3302.3599999999997,"body":"I've I've had a quite a good run"},{"speaker":"Nick Lincoln","startTime":3299.96,"endTime":3302.3599999999997,"body":"the last few months of picking"},{"speaker":"Nick Lincoln","startTime":3302.3599999999997,"endTime":3306.14,"body":"up five family units who I'm"},{"speaker":"Nick Lincoln","startTime":3302.3599999999997,"endTime":3306.14,"body":"helping to save from the"},{"speaker":"Nick Lincoln","startTime":3306.14,"endTime":3309.44,"body":"financial darkness, perhaps one"},{"speaker":"Nick Lincoln","startTime":3306.14,"endTime":3309.44,"body":"today, I was talking with Carl"},{"speaker":"Nick Lincoln","startTime":3309.44,"endTime":3311.96,"body":"before we hit the record button"},{"speaker":"Nick Lincoln","startTime":3309.44,"endTime":3311.96,"body":"the ladies day saying, yes, she"},{"speaker":"Nick Lincoln","startTime":3311.96,"endTime":3314.7799999999997,"body":"wants to come on board. This is"},{"speaker":"Nick Lincoln","startTime":3311.96,"endTime":3314.7799999999997,"body":"a lady who, for years has been"},{"speaker":"Nick Lincoln","startTime":3314.7799999999997,"endTime":3318.58,"body":"advised in quotes by a firm in"},{"speaker":"Nick Lincoln","startTime":3314.7799999999997,"endTime":3318.58,"body":"up the road in berkham, said a"},{"speaker":"Nick Lincoln","startTime":3318.7599999999998,"endTime":3322.6,"body":"sort of market town up the a 41"},{"speaker":"Nick Lincoln","startTime":3318.7599999999998,"endTime":3322.6,"body":"and she said to me at our"},{"speaker":"Nick Lincoln","startTime":3322.6,"endTime":3325.18,"body":"initial meeting, I sit down with"},{"speaker":"Nick Lincoln","startTime":3322.6,"endTime":3325.18,"body":"my advisor, and he just talks"},{"speaker":"Nick Lincoln","startTime":3325.18,"endTime":3328.12,"body":"about these funds and gives me"},{"speaker":"Nick Lincoln","startTime":3325.18,"endTime":3328.12,"body":"fact sheets, and I don't have a"},{"speaker":"Nick Lincoln","startTime":3328.12,"endTime":3330.7,"body":"bloody clue where I am. I don't"},{"speaker":"Nick Lincoln","startTime":3328.12,"endTime":3330.7,"body":"know if I'm on if I've got"},{"speaker":"Nick Lincoln","startTime":3330.7,"endTime":3333.04,"body":"enough. Haven't got a enough. I"},{"speaker":"Nick Lincoln","startTime":3330.7,"endTime":3333.04,"body":"don't understand half what he"},{"speaker":"Nick Lincoln","startTime":3333.04,"endTime":3335.68,"body":"talks about. And they've never"},{"speaker":"Nick Lincoln","startTime":3333.04,"endTime":3335.68,"body":"done any financial planning. And"},{"speaker":"Nick Lincoln","startTime":3335.68,"endTime":3341.04,"body":"the more people we can take away"},{"speaker":"Nick Lincoln","startTime":3335.68,"endTime":3341.04,"body":"from those kind of I don't know"},{"speaker":"Nick Lincoln","startTime":3341.04,"endTime":3343.68,"body":"why. I'm gonna be careful to say"},{"speaker":"Nick Lincoln","startTime":3341.04,"endTime":3343.68,"body":"I just think they're wrong."},{"speaker":"Nick Lincoln","startTime":3343.68,"endTime":3345.8399999999997,"body":"These people are wrong. They're"},{"speaker":"Nick Lincoln","startTime":3343.68,"endTime":3345.8399999999997,"body":"charging. They're not delivering"},{"speaker":"Nick Lincoln","startTime":3345.8399999999997,"endTime":3350.64,"body":"a service that this lady is 45"},{"speaker":"Nick Lincoln","startTime":3345.8399999999997,"endTime":3350.64,"body":"she knows her time too. She's a"},{"speaker":"Nick Lincoln","startTime":3350.64,"endTime":3353.3399999999997,"body":"good earner. It's running out,"},{"speaker":"Nick Lincoln","startTime":3350.64,"endTime":3353.3399999999997,"body":"and she just wants someone to"},{"speaker":"Nick Lincoln","startTime":3353.3399999999997,"endTime":3357.14,"body":"just give her, like a plan, just"},{"speaker":"Nick Lincoln","startTime":3353.3399999999997,"endTime":3357.14,"body":"an outline, plan and and the"},{"speaker":"Nick Lincoln","startTime":3357.2,"endTime":3359.8399999999997,"body":"more people we can help in that"},{"speaker":"Nick Lincoln","startTime":3357.2,"endTime":3359.8399999999997,"body":"way, the better. That's what my"},{"speaker":"Nick Lincoln","startTime":3359.8399999999997,"endTime":3363.3199999999997,"body":"business does, is what you guys"},{"speaker":"Nick Lincoln","startTime":3359.8399999999997,"endTime":3363.3199999999997,"body":"do. And it's, it's, it's great"},{"speaker":"Nick Lincoln","startTime":3363.3199999999997,"endTime":3365.66,"body":"that we can help these people."},{"speaker":"Nick Lincoln","startTime":3363.3199999999997,"endTime":3365.66,"body":"It's still such a shame there's"},{"speaker":"Nick Lincoln","startTime":3365.66,"endTime":3367.7599999999998,"body":"a large swathe of our profession"},{"speaker":"Nick Lincoln","startTime":3365.66,"endTime":3367.7599999999998,"body":"that aren't really"},{"speaker":"Nick Lincoln","startTime":3367.7599999999998,"endTime":3371.24,"body":"professionals. They're just,"},{"speaker":"Nick Lincoln","startTime":3367.7599999999998,"endTime":3371.24,"body":"they're just asset gatherers and"},{"speaker":"Nick Lincoln","startTime":3371.24,"endTime":3374.7799999999997,"body":"charging their money and the"},{"speaker":"Nick Lincoln","startTime":3371.24,"endTime":3374.7799999999997,"body":"rent, rent rent seekers. Okay,"},{"speaker":"Nick Lincoln","startTime":3374.9,"endTime":3379.7799999999997,"body":"right? I. Arctic trip for you,"},{"speaker":"Nick Lincoln","startTime":3374.9,"endTime":3379.7799999999997,"body":"Smith, what did you go back to"},{"speaker":"Nick Lincoln","startTime":3379.7799999999997,"endTime":3381.7599999999998,"body":"your hometown?"},{"speaker":"Unknown","startTime":3385.9,"endTime":3386.74,"body":"Just joined us,"},{"speaker":"Alan Smith","startTime":3388.359,"endTime":3391.719,"body":"by the way. Thanks"},{"speaker":"Alan Smith","startTime":3388.359,"endTime":3391.719,"body":"for ripping and piss at me. But"},{"speaker":"Alan Smith","startTime":3391.719,"endTime":3395.199,"body":"what you said? It can't be said"},{"speaker":"Alan Smith","startTime":3391.719,"endTime":3395.199,"body":"often, and you know, too many"},{"speaker":"Alan Smith","startTime":3395.199,"endTime":3398.459,"body":"times, because that's the thing"},{"speaker":"Alan Smith","startTime":3395.199,"endTime":3398.459,"body":"on the surface. Financial"},{"speaker":"Alan Smith","startTime":3398.459,"endTime":3401.279,"body":"Advisors all look the same, but"},{"speaker":"Alan Smith","startTime":3398.459,"endTime":3401.279,"body":"we so so different scrapes. Just"},{"speaker":"Alan Smith","startTime":3401.279,"endTime":3404.0389999999998,"body":"scrape it sort of a little"},{"speaker":"Alan Smith","startTime":3401.279,"endTime":3404.0389999999998,"body":"surface level, and you find that"},{"speaker":"Alan Smith","startTime":3404.0389999999998,"endTime":3408.239,"body":"a huge number do exactly that."},{"speaker":"Alan Smith","startTime":3404.0389999999998,"endTime":3408.239,"body":"Get a pie chart out, get a graph"},{"speaker":"Alan Smith","startTime":3408.239,"endTime":3410.519,"body":"out. That's what the annual"},{"speaker":"Alan Smith","startTime":3408.239,"endTime":3410.519,"body":"review looks like. You're up"},{"speaker":"Alan Smith","startTime":3410.519,"endTime":3413.879,"body":"eight this fund. We're going to"},{"speaker":"Alan Smith","startTime":3410.519,"endTime":3413.879,"body":"move from fund a to fund B,"},{"speaker":"Alan Smith","startTime":3413.879,"endTime":3416.779,"body":"because I met the fund manager."},{"speaker":"Alan Smith","startTime":3413.879,"endTime":3416.779,"body":"I went to a webinar. Blah, blah,"},{"speaker":"Alan Smith","startTime":3416.779,"endTime":3420.499,"body":"blah, net, net, net. You know,"},{"speaker":"Alan Smith","startTime":3416.779,"endTime":3420.499,"body":"worse off the client is just"},{"speaker":"Alan Smith","startTime":3420.499,"endTime":3423.259,"body":"because they're just not doing"},{"speaker":"Alan Smith","startTime":3420.499,"endTime":3423.259,"body":"it. So what we do is great work."},{"speaker":"Alan Smith","startTime":3423.259,"endTime":3425.959,"body":"And anyone listening to this, if"},{"speaker":"Alan Smith","startTime":3423.259,"endTime":3425.959,"body":"you're not doing it, you should"},{"speaker":"Alan Smith","startTime":3425.959,"endTime":3428.419,"body":"do and if you are doing it, keep"},{"speaker":"Alan Smith","startTime":3425.959,"endTime":3428.419,"body":"on doing it, because real"},{"speaker":"Alan Smith","startTime":3428.419,"endTime":3430.939,"body":"financial planning, which is"},{"speaker":"Alan Smith","startTime":3428.419,"endTime":3430.939,"body":"what this podcast is named"},{"speaker":"Alan Smith","startTime":3430.939,"endTime":3435.979,"body":"after, is what it's all about."},{"speaker":"Alan Smith","startTime":3430.939,"endTime":3435.979,"body":"Thank you, Nick, yes, I visited"},{"speaker":"Alan Smith","startTime":3437.179,"endTime":3441.939,"body":"the most northerly McDonald's in"},{"speaker":"Alan Smith","startTime":3437.179,"endTime":3441.939,"body":"the world and most northly"},{"speaker":"Alan Smith","startTime":3441.939,"endTime":3449.1389999999997,"body":"Burger King in the world in one"},{"speaker":"Alan Smith","startTime":3441.939,"endTime":3449.1389999999997,"body":"trip. This is the year end, last"},{"speaker":"Alan Smith","startTime":3449.1389999999997,"endTime":3453.819,"body":"episode of the year, Nick queue"},{"speaker":"Alan Smith","startTime":3449.1389999999997,"endTime":3453.819,"body":"up. I've got a very brief story"},{"speaker":"Alan Smith","startTime":3453.819,"endTime":3456.839,"body":"to tell, car more."},{"speaker":"Unknown","startTime":3460.44,"endTime":3465.2999999999997,"body":"Grab yourself a drink."},{"speaker":"Unknown","startTime":3460.44,"endTime":3465.2999999999997,"body":"A very long drink. It's story."},{"speaker":"Unknown","startTime":3465.2999999999997,"endTime":3467.46,"body":"Time with Alan Smith,"},{"speaker":"Alan Smith","startTime":3470.88,"endTime":3475.3199999999997,"body":"this time last year,"},{"speaker":"Alan Smith","startTime":3470.88,"endTime":3475.3199999999997,"body":"I was thinking about going on a"},{"speaker":"Alan Smith","startTime":3475.3199999999997,"endTime":3479.9,"body":"trip, on an adventure. I went"},{"speaker":"Alan Smith","startTime":3475.3199999999997,"endTime":3479.9,"body":"out in our Christmas office due"},{"speaker":"Alan Smith","startTime":3479.9,"endTime":3483.14,"body":"which was we did the same again"},{"speaker":"Alan Smith","startTime":3479.9,"endTime":3483.14,"body":"a couple of days ago, but 2023,"},{"speaker":"Alan Smith","startTime":3483.92,"endTime":3487.46,"body":"capital Christmas do. And I was"},{"speaker":"Alan Smith","startTime":3483.92,"endTime":3487.46,"body":"telling my friend and colleague,"},{"speaker":"Alan Smith","startTime":3487.52,"endTime":3491.96,"body":"Charles about this, and he said,"},{"speaker":"Alan Smith","startTime":3487.52,"endTime":3491.96,"body":"I'm up for that. Let's do it."},{"speaker":"Alan Smith","startTime":3492.2599999999998,"endTime":3495.62,"body":"And I kind of poo pooed it. I"},{"speaker":"Alan Smith","startTime":3492.2599999999998,"endTime":3495.62,"body":"said, I'm not sure if I'm if I"},{"speaker":"Alan Smith","startTime":3495.62,"endTime":3497.92,"body":"really, really want to do it."},{"speaker":"Alan Smith","startTime":3495.62,"endTime":3497.92,"body":"Anyway, Charles over the"},{"speaker":"Alan Smith","startTime":3497.92,"endTime":3500.2,"body":"Christmas break, he just"},{"speaker":"Alan Smith","startTime":3497.92,"endTime":3500.2,"body":"WhatsApp me pretty much every"},{"speaker":"Alan Smith","startTime":3500.2,"endTime":3502.66,"body":"day. He said, Come on. Come on."},{"speaker":"Alan Smith","startTime":3500.2,"endTime":3502.66,"body":"Come on. Let's do it. Sometimes"},{"speaker":"Alan Smith","startTime":3502.66,"endTime":3504.94,"body":"you need to push. Sometimes you"},{"speaker":"Alan Smith","startTime":3502.66,"endTime":3504.94,"body":"need a nudge to do something"},{"speaker":"Alan Smith","startTime":3504.94,"endTime":3508.54,"body":"anyway. And classic sales"},{"speaker":"Alan Smith","startTime":3504.94,"endTime":3508.54,"body":"tactics, the price was going to"},{"speaker":"Alan Smith","startTime":3508.54,"endTime":3511.06,"body":"go up by December 31 so I"},{"speaker":"Alan Smith","startTime":3508.54,"endTime":3511.06,"body":"thought it was either now or"},{"speaker":"Alan Smith","startTime":3511.06,"endTime":3514.6,"body":"never, otherwise the price goes"},{"speaker":"Alan Smith","startTime":3511.06,"endTime":3514.6,"body":"up. So I bit the bullet and I"},{"speaker":"Alan Smith","startTime":3514.6,"endTime":3516.9,"body":"signed up for it, even though I"},{"speaker":"Alan Smith","startTime":3514.6,"endTime":3516.9,"body":"done no training or anything"},{"speaker":"Alan Smith","startTime":3516.9,"endTime":3520.14,"body":"else. So I signed up to do"},{"speaker":"Alan Smith","startTime":3516.9,"endTime":3520.14,"body":"what's called the Arctic Circle"},{"speaker":"Alan Smith","startTime":3520.14,"endTime":3524.04,"body":"rat race, which is 85 kilometers"},{"speaker":"Alan Smith","startTime":3520.14,"endTime":3524.04,"body":"across the snow in Northern"},{"speaker":"Alan Smith","startTime":3524.04,"endTime":3528.18,"body":"Norway, Finland and Sweden."},{"speaker":"Alan Smith","startTime":3524.04,"endTime":3528.18,"body":"You're across three countries,"},{"speaker":"Alan Smith","startTime":3528.72,"endTime":3532.2599999999998,"body":"deep, deep snow, freezing your"},{"speaker":"Alan Smith","startTime":3528.72,"endTime":3532.2599999999998,"body":"knackers off, living in a tent,"},{"speaker":"Alan Smith","startTime":3532.8599999999997,"endTime":3537.92,"body":"which, during the night, gets to"},{"speaker":"Alan Smith","startTime":3532.8599999999997,"endTime":3537.92,"body":"minus 25 but pleased to report,"},{"speaker":"Alan Smith","startTime":3537.98,"endTime":3542.42,"body":"I did it. I achieved it. It was"},{"speaker":"Alan Smith","startTime":3537.98,"endTime":3542.42,"body":"hard as hell. I didn't win. I"},{"speaker":"Alan Smith","startTime":3542.42,"endTime":3544.88,"body":"wasn't the first across the"},{"speaker":"Alan Smith","startTime":3542.42,"endTime":3544.88,"body":"finishing line, but I certainly"},{"speaker":"Alan Smith","startTime":3544.88,"endTime":3548.42,"body":"finished, and I certainly wasn't"},{"speaker":"Alan Smith","startTime":3544.88,"endTime":3548.42,"body":"last, and I and I completed it."},{"speaker":"Alan Smith","startTime":3549.02,"endTime":3552.62,"body":"And so you know, what are the"},{"speaker":"Alan Smith","startTime":3549.02,"endTime":3552.62,"body":"lessons? What are the lessons"},{"speaker":"Alan Smith","startTime":3552.62,"endTime":3556.9,"body":"from that? One is, don't sign up"},{"speaker":"Alan Smith","startTime":3552.62,"endTime":3556.9,"body":"tell your mates about certain"},{"speaker":"Alan Smith","startTime":3556.9,"endTime":3560.2599999999998,"body":"things, because they force you"},{"speaker":"Alan Smith","startTime":3556.9,"endTime":3560.2599999999998,"body":"into doing things overall."},{"speaker":"Alan Smith","startTime":3560.3199999999997,"endTime":3563.56,"body":"Here's, here's the thing that I"},{"speaker":"Alan Smith","startTime":3560.3199999999997,"endTime":3563.56,"body":"reflect on, you know, the kind"},{"speaker":"Alan Smith","startTime":3563.56,"endTime":3566.62,"body":"of classic Maslow's hierarchy"},{"speaker":"Alan Smith","startTime":3563.56,"endTime":3566.62,"body":"all of us have got, you know,"},{"speaker":"Alan Smith","startTime":3566.62,"endTime":3569.14,"body":"we've been at the game a while."},{"speaker":"Alan Smith","startTime":3566.62,"endTime":3569.14,"body":"You know, you've got reasonable"},{"speaker":"Alan Smith","startTime":3569.14,"endTime":3571.48,"body":"expectation that you've got a"},{"speaker":"Alan Smith","startTime":3569.14,"endTime":3571.48,"body":"roof over your head, you've got,"},{"speaker":"Alan Smith","startTime":3571.66,"endTime":3573.8199999999997,"body":"you've got, you can pay your"},{"speaker":"Alan Smith","startTime":3571.66,"endTime":3573.8199999999997,"body":"food, you can go on a holiday"},{"speaker":"Alan Smith","startTime":3573.8199999999997,"endTime":3576.8399999999997,"body":"and all that sort of thing. And"},{"speaker":"Alan Smith","startTime":3573.8199999999997,"endTime":3576.8399999999997,"body":"I think, I think getting"},{"speaker":"Alan Smith","startTime":3576.8399999999997,"endTime":3580.2599999999998,"body":"comfortable is risky, and it's"},{"speaker":"Alan Smith","startTime":3576.8399999999997,"endTime":3580.2599999999998,"body":"dangerous, and I think whether"},{"speaker":"Alan Smith","startTime":3580.2599999999998,"endTime":3584.88,"body":"it's in personal life, business,"},{"speaker":"Alan Smith","startTime":3580.2599999999998,"endTime":3584.88,"body":"health, fitness, any number of"},{"speaker":"Alan Smith","startTime":3584.88,"endTime":3588.0,"body":"things, I think all of us should"},{"speaker":"Alan Smith","startTime":3584.88,"endTime":3588.0,"body":"Well, I think I should anyway,"},{"speaker":"Alan Smith","startTime":3588.42,"endTime":3591.8399999999997,"body":"force myself to do things"},{"speaker":"Alan Smith","startTime":3588.42,"endTime":3591.8399999999997,"body":"classically, using an age old"},{"speaker":"Alan Smith","startTime":3591.8399999999997,"endTime":3594.9,"body":"cliche, but outside the comfort"},{"speaker":"Alan Smith","startTime":3591.8399999999997,"endTime":3594.9,"body":"zone. Because doing that trip,"},{"speaker":"Alan Smith","startTime":3594.9,"endTime":3597.44,"body":"when I signed up for it was"},{"speaker":"Alan Smith","startTime":3594.9,"endTime":3597.44,"body":"definitely outside my comfort"},{"speaker":"Alan Smith","startTime":3597.44,"endTime":3601.16,"body":"zone. I thought at a fair push I"},{"speaker":"Alan Smith","startTime":3597.44,"endTime":3601.16,"body":"could do it, but I thought it"},{"speaker":"Alan Smith","startTime":3601.16,"endTime":3605.48,"body":"wasn't, it wasn't going to be"},{"speaker":"Alan Smith","startTime":3601.16,"endTime":3605.48,"body":"easy. And what it did do was It"},{"speaker":"Alan Smith","startTime":3605.48,"endTime":3609.14,"body":"compelled me just to improve my"},{"speaker":"Alan Smith","startTime":3605.48,"endTime":3609.14,"body":"fitness in the first part of the"},{"speaker":"Alan Smith","startTime":3609.14,"endTime":3611.6,"body":"year. So I was doing things"},{"speaker":"Alan Smith","startTime":3609.14,"endTime":3611.6,"body":"which never done before, which"},{"speaker":"Alan Smith","startTime":3611.6,"endTime":3614.54,"body":"is like running, sprinting, Hill"},{"speaker":"Alan Smith","startTime":3611.6,"endTime":3614.54,"body":"sprints, all that stuff, because"},{"speaker":"Alan Smith","startTime":3614.54,"endTime":3617.56,"body":"I knew I couldn't just pitch up"},{"speaker":"Alan Smith","startTime":3614.54,"endTime":3617.56,"body":"there on the day and expect just"},{"speaker":"Alan Smith","startTime":3617.56,"endTime":3621.7,"body":"to go through this trip. So the"},{"speaker":"Alan Smith","startTime":3617.56,"endTime":3621.7,"body":"moral of the story here is, all"},{"speaker":"Alan Smith","startTime":3621.7,"endTime":3624.88,"body":"of us just think of something"},{"speaker":"Alan Smith","startTime":3621.7,"endTime":3624.88,"body":"that's hard but not impossible,"},{"speaker":"Alan Smith","startTime":3625.06,"endTime":3628.54,"body":"that is going to push you and"},{"speaker":"Alan Smith","startTime":3625.06,"endTime":3628.54,"body":"set yourself a target. I mean,"},{"speaker":"Alan Smith","startTime":3628.54,"endTime":3631.7799999999997,"body":"ideally share it, push it out"},{"speaker":"Alan Smith","startTime":3628.54,"endTime":3631.7799999999997,"body":"publicly, say I'm going to aim"},{"speaker":"Alan Smith","startTime":3631.7799999999997,"endTime":3634.06,"body":"to do this. I know we've all"},{"speaker":"Alan Smith","startTime":3631.7799999999997,"endTime":3634.06,"body":"done various things and varying"},{"speaker":"Alan Smith","startTime":3634.06,"endTime":3636.3599999999997,"body":"types in the past, certainly a"},{"speaker":"Alan Smith","startTime":3634.06,"endTime":3636.3599999999997,"body":"couple of years ago, Nick, I"},{"speaker":"Alan Smith","startTime":3636.3599999999997,"endTime":3639.66,"body":"went on you in a famous Majorca"},{"speaker":"Alan Smith","startTime":3636.3599999999997,"endTime":3639.66,"body":"marathon, which was a night a"},{"speaker":"Alan Smith","startTime":3639.66,"endTime":3640.62,"body":"night trip, wasn't"},{"speaker":"Nick Lincoln","startTime":3640.6189999999997,"endTime":3643.379,"body":"it? We had lots of"},{"speaker":"Nick Lincoln","startTime":3640.6189999999997,"endTime":3643.379,"body":"training for that. We were"},{"speaker":"Nick Lincoln","startTime":3643.379,"endTime":3644.759,"body":"broken lots of training, but we"},{"speaker":"Andy Hart","startTime":3644.7599999999998,"endTime":3646.98,"body":"walked for about 26"},{"speaker":"Andy Hart","startTime":3644.7599999999998,"endTime":3646.98,"body":"miles through the night, which"},{"speaker":"Andy Hart","startTime":3646.98,"endTime":3650.46,"body":"was a great special operation,"},{"speaker":"Andy Hart","startTime":3646.98,"endTime":3650.46,"body":"14 points. Yeah, that was"},{"speaker":"Alan Smith","startTime":3650.519,"endTime":3653.879,"body":"a different"},{"speaker":"Alan Smith","startTime":3650.519,"endTime":3653.879,"body":"endurance test. But that's the"},{"speaker":"Alan Smith","startTime":3653.879,"endTime":3655.979,"body":"point of the story, and it's"},{"speaker":"Alan Smith","startTime":3653.879,"endTime":3655.979,"body":"been building"},{"speaker":"Unknown","startTime":3655.98,"endTime":3660.5,"body":"there. Yeah, yeah,"},{"speaker":"Unknown","startTime":3655.98,"endTime":3660.5,"body":"yeah, when we get there, see"},{"speaker":"Unknown","startTime":3660.5,"endTime":3662.54,"body":"that building? What that one all"},{"speaker":"Unknown","startTime":3660.5,"endTime":3662.54,"body":"the way there? Yeah,"},{"speaker":"Alan Smith","startTime":3663.02,"endTime":3666.56,"body":"just on the horizon,"},{"speaker":"Alan Smith","startTime":3663.02,"endTime":3666.56,"body":"almost halfway. Yeah. That was a"},{"speaker":"Alan Smith","startTime":3666.56,"endTime":3669.2,"body":"long, old, long, old trip. But"},{"speaker":"Alan Smith","startTime":3666.56,"endTime":3669.2,"body":"back to the the Arctic, it was"},{"speaker":"Alan Smith","startTime":3669.2,"endTime":3671.96,"body":"good. The thing about that"},{"speaker":"Alan Smith","startTime":3669.2,"endTime":3671.96,"body":"particular trip is you can't"},{"speaker":"Alan Smith","startTime":3671.96,"endTime":3674.66,"body":"even move fast if you try. It's"},{"speaker":"Alan Smith","startTime":3671.96,"endTime":3674.66,"body":"deep snow. Sometimes up to you,"},{"speaker":"Alan Smith","startTime":3675.2,"endTime":3677.74,"body":"certainly your knees. Sometimes"},{"speaker":"Alan Smith","startTime":3675.2,"endTime":3677.74,"body":"up to your waist. So you just"},{"speaker":"Alan Smith","startTime":3677.74,"endTime":3681.1,"body":"cry. And it really was a matter"},{"speaker":"Alan Smith","startTime":3677.74,"endTime":3681.1,"body":"of grinding it out. And Jesus"},{"speaker":"Alan Smith","startTime":3681.1,"endTime":3683.44,"body":"Christ, you're walking so"},{"speaker":"Alan Smith","startTime":3681.1,"endTime":3683.44,"body":"slowly. And then you look at"},{"speaker":"Alan Smith","startTime":3683.44,"endTime":3685.8399999999997,"body":"your map, you look at your"},{"speaker":"Alan Smith","startTime":3683.44,"endTime":3685.8399999999997,"body":"watch, you think, I'll be"},{"speaker":"Alan Smith","startTime":3685.8399999999997,"endTime":3687.94,"body":"walking for three hours. They're"},{"speaker":"Alan Smith","startTime":3685.8399999999997,"endTime":3687.94,"body":"going like two miles or"},{"speaker":"Alan Smith","startTime":3687.94,"endTime":3691.0,"body":"something, not even. And it's,"},{"speaker":"Alan Smith","startTime":3687.94,"endTime":3691.0,"body":"do you think, when will this"},{"speaker":"Alan Smith","startTime":3691.0,"endTime":3694.7799999999997,"body":"ever end? But it was the again,"},{"speaker":"Alan Smith","startTime":3691.0,"endTime":3694.7799999999997,"body":"the long story short, the moral"},{"speaker":"Alan Smith","startTime":3694.7799999999997,"endTime":3697.44,"body":"of the story is, keep putting"},{"speaker":"Alan Smith","startTime":3694.7799999999997,"endTime":3697.44,"body":"one food in front of the other."},{"speaker":"Alan Smith","startTime":3697.44,"endTime":3699.8399999999997,"body":"Keep putting one foot in front"},{"speaker":"Alan Smith","startTime":3697.44,"endTime":3699.8399999999997,"body":"of the other. That's all you"},{"speaker":"Alan Smith","startTime":3699.8399999999997,"endTime":3703.44,"body":"need to do. So that was"},{"speaker":"Alan Smith","startTime":3699.8399999999997,"endTime":3703.44,"body":"definitely a highlight for me of"},{"speaker":"Alan Smith","startTime":3703.44,"endTime":3706.38,"body":"2024 Thank you. Excellent."},{"speaker":"Nick Lincoln","startTime":3706.44,"endTime":3708.24,"body":"Now, Andrew, I'm"},{"speaker":"Nick Lincoln","startTime":3706.44,"endTime":3708.24,"body":"not sure if you've got one left,"},{"speaker":"Nick Lincoln","startTime":3708.24,"endTime":3708.8399999999997,"body":"have you? Yeah,"},{"speaker":"Andy Hart","startTime":3708.8399999999997,"endTime":3710.64,"body":"no, I've got one"},{"speaker":"Andy Hart","startTime":3708.8399999999997,"endTime":3710.64,"body":"left. The highlight for me, by"},{"speaker":"Andy Hart","startTime":3710.64,"endTime":3714.8399999999997,"body":"an absolute mile, was Carl's"},{"speaker":"Andy Hart","startTime":3710.64,"endTime":3714.8399999999997,"body":"50th birthday in Norway. What a"},{"speaker":"Andy Hart","startTime":3714.8399999999997,"endTime":3718.04,"body":"weekend. Oh, the Norway, the"},{"speaker":"Andy Hart","startTime":3714.8399999999997,"endTime":3718.04,"body":"Norway the Norway trip. What a"},{"speaker":"Andy Hart","startTime":3718.04,"endTime":3721.7,"body":"weekend. Yeah, wow, yeah. Big"},{"speaker":"Andy Hart","startTime":3718.04,"endTime":3721.7,"body":"surprise"},{"speaker":"Alan Smith","startTime":3721.7599999999998,"endTime":3724.8199999999997,"body":"for you boys coming"},{"speaker":"Alan Smith","startTime":3721.7599999999998,"endTime":3724.8199999999997,"body":"over. Surprise him. He knew he"},{"speaker":"Alan Smith","startTime":3724.8199999999997,"endTime":3728.54,"body":"could just a general thing in"},{"speaker":"Alan Smith","startTime":3724.8199999999997,"endTime":3728.54,"body":"life. Carl can rely on me."},{"speaker":"Alan Smith","startTime":3729.08,"endTime":3731.2999999999997,"body":"Surprised that you guys showed"},{"speaker":"Alan Smith","startTime":3729.08,"endTime":3731.2999999999997,"body":"up. I'm sure Carl"},{"speaker":"Andy Hart","startTime":3731.2999999999997,"endTime":3733.04,"body":"might mention it."},{"speaker":"Andy Hart","startTime":3731.2999999999997,"endTime":3733.04,"body":"It's been a big year for him,"},{"speaker":"Andy Hart","startTime":3733.04,"endTime":3735.56,"body":"obviously, birthday wise. A few"},{"speaker":"Andy Hart","startTime":3733.04,"endTime":3735.56,"body":"other things happening. I'll"},{"speaker":"Andy Hart","startTime":3735.56,"endTime":3738.94,"body":"leave it to him. No joking"},{"speaker":"Andy Hart","startTime":3735.56,"endTime":3738.94,"body":"aside, the biggest thing"},{"speaker":"Andy Hart","startTime":3738.94,"endTime":3742.42,"body":"happened for me is my little"},{"speaker":"Andy Hart","startTime":3738.94,"endTime":3742.42,"body":"babies, Poppy and Milo, start in"},{"speaker":"Andy Hart","startTime":3742.42,"endTime":3746.14,"body":"school. So they're four and a"},{"speaker":"Andy Hart","startTime":3742.42,"endTime":3746.14,"body":"bit they started school. 489,"},{"speaker":"Andy Hart","startTime":3746.62,"endTime":3751.0,"body":"weeks ago. Very cute. They are"},{"speaker":"Andy Hart","startTime":3746.62,"endTime":3751.0,"body":"twins, and they split them up"},{"speaker":"Andy Hart","startTime":3751.12,"endTime":3753.8199999999997,"body":"two different classes. So that's"},{"speaker":"Andy Hart","startTime":3751.12,"endTime":3753.8199999999997,"body":"also quite interesting. So I've"},{"speaker":"Andy Hart","startTime":3753.8199999999997,"endTime":3756.7,"body":"got two sets of WhatsApp groups,"},{"speaker":"Andy Hart","startTime":3753.8199999999997,"endTime":3756.7,"body":"two sets of parents evening, two"},{"speaker":"Andy Hart","startTime":3756.7,"endTime":3759.8399999999997,"body":"sets of everything. But anyway,"},{"speaker":"Andy Hart","startTime":3756.7,"endTime":3759.8399999999997,"body":"very interesting. And they had"},{"speaker":"Andy Hart","startTime":3759.8399999999997,"endTime":3762.6,"body":"the Nativity last week. They're"},{"speaker":"Andy Hart","startTime":3759.8399999999997,"endTime":3762.6,"body":"settling in amazing. They're"},{"speaker":"Andy Hart","startTime":3762.6,"endTime":3766.62,"body":"great little humans. I couldn't"},{"speaker":"Andy Hart","startTime":3762.6,"endTime":3766.62,"body":"be prouder. So that's my big"},{"speaker":"Andy Hart","startTime":3766.62,"endTime":3769.74,"body":"personal win of the year. Over"},{"speaker":"Andy Hart","startTime":3766.62,"endTime":3769.74,"body":"to you, Carl,"},{"speaker":"Nick Lincoln","startTime":3771.9,"endTime":3772.74,"body":"you're muted,"},{"speaker":"Nick Lincoln","startTime":3771.9,"endTime":3772.74,"body":"fella."},{"speaker":"Unknown","startTime":3774.06,"endTime":3775.62,"body":"He was doing so well."},{"speaker":"Alan Smith","startTime":3776.7,"endTime":3779.24,"body":"He's still muted."},{"speaker":"Alan Smith","startTime":3776.7,"endTime":3779.24,"body":"Carl, hero. Carl, Carl, Carl,"},{"speaker":"Alan Smith","startTime":3779.24,"endTime":3781.88,"body":"Carl, come on. How can I fly"},{"speaker":"Alan Smith","startTime":3779.24,"endTime":3781.88,"body":"like the Eagles"},{"speaker":"Carl Widger","startTime":3784.7,"endTime":3788.7799999999997,"body":"pigeons cherish the"},{"speaker":"Carl Widger","startTime":3784.7,"endTime":3788.7799999999997,"body":"twins at that age, Andrew, I've"},{"speaker":"Carl Widger","startTime":3788.7799999999997,"endTime":3792.5,"body":"got triplets, as you know, and"},{"speaker":"Carl Widger","startTime":3788.7799999999997,"endTime":3792.5,"body":"they're about to finish school"},{"speaker":"Carl Widger","startTime":3792.5,"endTime":3795.2599999999998,"body":"this year, and they'll be flying"},{"speaker":"Carl Widger","startTime":3792.5,"endTime":3795.2599999999998,"body":"the nest, and it'll be only"},{"speaker":"Carl Widger","startTime":3795.2599999999998,"endTime":3800.3199999999997,"body":"myself and Emma left. But"},{"speaker":"Carl Widger","startTime":3795.2599999999998,"endTime":3800.3199999999997,"body":"anyway, yeah, look, I had a big"},{"speaker":"Carl Widger","startTime":3800.3199999999997,"endTime":3805.96,"body":"birthday this year and big party"},{"speaker":"Carl Widger","startTime":3800.3199999999997,"endTime":3805.96,"body":"and celebrated, I think"},{"speaker":"Carl Widger","startTime":3805.96,"endTime":3810.7,"body":"appropriately, it was all great."},{"speaker":"Carl Widger","startTime":3805.96,"endTime":3810.7,"body":"So yeah, for me, I think that"},{"speaker":"Carl Widger","startTime":3810.7,"endTime":3815.08,"body":"the big, a big win this year was"},{"speaker":"Carl Widger","startTime":3810.7,"endTime":3815.08,"body":"we had kind of good momentum in"},{"speaker":"Carl Widger","startTime":3815.08,"endTime":3820.5,"body":"terms of business coming into"},{"speaker":"Carl Widger","startTime":3815.08,"endTime":3820.5,"body":"2024 and we built on that"},{"speaker":"Carl Widger","startTime":3820.5,"endTime":3823.8599999999997,"body":"momentum, and we kept the"},{"speaker":"Carl Widger","startTime":3820.5,"endTime":3823.8599999999997,"body":"momentum going, albeit, there"},{"speaker":"Carl Widger","startTime":3823.8599999999997,"endTime":3828.48,"body":"were kind of speed bumps along"},{"speaker":"Carl Widger","startTime":3823.8599999999997,"endTime":3828.48,"body":"the way and and maybe"},{"speaker":"Carl Widger","startTime":3828.48,"endTime":3831.6,"body":"beforehand, sometimes speed"},{"speaker":"Carl Widger","startTime":3828.48,"endTime":3831.6,"body":"bumps might have thrown us off"},{"speaker":"Carl Widger","startTime":3831.6,"endTime":3835.2599999999998,"body":"course, or thrown me off course."},{"speaker":"Carl Widger","startTime":3831.6,"endTime":3835.2599999999998,"body":"Um, I think we were really,"},{"speaker":"Carl Widger","startTime":3835.2599999999998,"endTime":3838.1,"body":"really good at keeping the main"},{"speaker":"Carl Widger","startTime":3835.2599999999998,"endTime":3838.1,"body":"thing, the main thing, keeping"},{"speaker":"Carl Widger","startTime":3838.1,"endTime":3842.24,"body":"the focus and and, you know,"},{"speaker":"Carl Widger","startTime":3838.1,"endTime":3842.24,"body":"just keep it really, I think"},{"speaker":"Carl Widger","startTime":3842.24,"endTime":3845.0,"body":"Alan, you mentioned keeping it"},{"speaker":"Carl Widger","startTime":3842.24,"endTime":3845.0,"body":"really, really simple, and"},{"speaker":"Carl Widger","startTime":3845.0,"endTime":3848.48,"body":"saying, Okay, this isn't hard,"},{"speaker":"Carl Widger","startTime":3845.0,"endTime":3848.48,"body":"but if we're, if we actually"},{"speaker":"Carl Widger","startTime":3848.48,"endTime":3850.88,"body":"just keep going, keep going,"},{"speaker":"Carl Widger","startTime":3848.48,"endTime":3850.88,"body":"keep going, and accept that"},{"speaker":"Carl Widger","startTime":3850.88,"endTime":3853.22,"body":"they're going to be these speed"},{"speaker":"Carl Widger","startTime":3850.88,"endTime":3853.22,"body":"bumps along the way. They're not"},{"speaker":"Carl Widger","startTime":3853.22,"endTime":3856.24,"body":"roadblocks, except they're speed"},{"speaker":"Carl Widger","startTime":3853.22,"endTime":3856.24,"body":"bumps. They're inevitable in"},{"speaker":"Carl Widger","startTime":3856.24,"endTime":3859.8399999999997,"body":"business and in life, and you"},{"speaker":"Carl Widger","startTime":3856.24,"endTime":3859.8399999999997,"body":"just keep going, keep keep"},{"speaker":"Carl Widger","startTime":3859.8399999999997,"endTime":3863.44,"body":"pushing through it. And for me,"},{"speaker":"Carl Widger","startTime":3859.8399999999997,"endTime":3863.44,"body":"and I only I was chatting to"},{"speaker":"Carl Widger","startTime":3863.44,"endTime":3866.56,"body":"some of my guys earlier on"},{"speaker":"Carl Widger","startTime":3863.44,"endTime":3866.56,"body":"today, and it was going, that's"},{"speaker":"Carl Widger","startTime":3866.56,"endTime":3869.62,"body":"our thing, guys. We just make"},{"speaker":"Carl Widger","startTime":3866.56,"endTime":3869.62,"body":"sure that, you know, we start"},{"speaker":"Carl Widger","startTime":3869.62,"endTime":3874.8399999999997,"body":"the new year as we finished 2024"},{"speaker":"Carl Widger","startTime":3869.62,"endTime":3874.8399999999997,"body":"we just keep going. We're"},{"speaker":"Carl Widger","startTime":3874.8399999999997,"endTime":3878.22,"body":"building great momentum, and"},{"speaker":"Carl Widger","startTime":3874.8399999999997,"endTime":3878.22,"body":"we're having success, but we're"},{"speaker":"Carl Widger","startTime":3878.22,"endTime":3880.98,"body":"having fun too. And I think"},{"speaker":"Carl Widger","startTime":3878.22,"endTime":3880.98,"body":"that's really, really important."},{"speaker":"Carl Widger","startTime":3881.58,"endTime":3882.72,"body":"So for me, that's the"},{"speaker":"Alan Smith","startTime":3882.7799999999997,"endTime":3885.3599999999997,"body":"whole Yeah, can I,"},{"speaker":"Alan Smith","startTime":3882.7799999999997,"endTime":3885.3599999999997,"body":"can I ask you something? If it's"},{"speaker":"Alan Smith","startTime":3885.3599999999997,"endTime":3888.3599999999997,"body":"not Yeah, it was not too"},{"speaker":"Alan Smith","startTime":3885.3599999999997,"endTime":3888.3599999999997,"body":"personal, which was, you've you"},{"speaker":"Alan Smith","startTime":3888.3599999999997,"endTime":3891.66,"body":"openly talked about on this show"},{"speaker":"Alan Smith","startTime":3888.3599999999997,"endTime":3891.66,"body":"maybe a year ago, that the"},{"speaker":"Alan Smith","startTime":3891.66,"endTime":3894.96,"body":"previous year to that you'd had"},{"speaker":"Alan Smith","startTime":3891.66,"endTime":3894.96,"body":"some challenges. You just, you"},{"speaker":"Alan Smith","startTime":3894.96,"endTime":3898.64,"body":"burn out, I think was the phrase"},{"speaker":"Alan Smith","startTime":3894.96,"endTime":3898.64,"body":"yeah used and you just, you had"},{"speaker":"Alan Smith","startTime":3898.64,"endTime":3900.92,"body":"to take some time out and really"},{"speaker":"Alan Smith","startTime":3898.64,"endTime":3900.92,"body":"kind of recharge your own"},{"speaker":"Alan Smith","startTime":3900.92,"endTime":3904.7,"body":"batteries. What? Yeah, listening"},{"speaker":"Alan Smith","startTime":3900.92,"endTime":3904.7,"body":"to you and just through our day"},{"speaker":"Alan Smith","startTime":3904.7,"endTime":3908.0,"body":"to day conversations that we"},{"speaker":"Alan Smith","startTime":3904.7,"endTime":3908.0,"body":"have, sounds to me that you have"},{"speaker":"Alan Smith","startTime":3908.18,"endTime":3911.8399999999997,"body":"haven't experienced that this"},{"speaker":"Alan Smith","startTime":3908.18,"endTime":3911.8399999999997,"body":"year or not to the same degree."},{"speaker":"Alan Smith","startTime":3911.8399999999997,"endTime":3914.9,"body":"Shall we say, is there any sort"},{"speaker":"Alan Smith","startTime":3911.8399999999997,"endTime":3914.9,"body":"of tools or tactics that you"},{"speaker":"Alan Smith","startTime":3914.9,"endTime":3915.7999999999997,"body":"have embraced that"},{"speaker":"Carl Widger","startTime":3915.7999999999997,"endTime":3919.18,"body":"I can tell you,"},{"speaker":"Carl Widger","startTime":3915.7999999999997,"endTime":3919.18,"body":"it's, it's one single thing,"},{"speaker":"Carl Widger","startTime":3919.18,"endTime":3924.4,"body":"right? It's to create space for"},{"speaker":"Carl Widger","startTime":3919.18,"endTime":3924.4,"body":"myself, to just have space for"},{"speaker":"Carl Widger","startTime":3924.4,"endTime":3927.52,"body":"myself. So it's, it's, so you"},{"speaker":"Carl Widger","startTime":3924.4,"endTime":3927.52,"body":"guys have seen this. I was"},{"speaker":"Carl Widger","startTime":3927.52,"endTime":3930.16,"body":"talking to Nick earlier on. I"},{"speaker":"Carl Widger","startTime":3927.52,"endTime":3930.16,"body":"said, Nick, you've sent me two"},{"speaker":"Carl Widger","startTime":3930.16,"endTime":3932.74,"body":"emails, and I haven't replied. I"},{"speaker":"Carl Widger","startTime":3930.16,"endTime":3932.74,"body":"know they're there, but I"},{"speaker":"Carl Widger","startTime":3932.74,"endTime":3938.2799999999997,"body":"haven't replied. There's lots of"},{"speaker":"Carl Widger","startTime":3932.74,"endTime":3938.2799999999997,"body":"people suffering the same faith."},{"speaker":"Carl Widger","startTime":3938.3399999999997,"endTime":3941.64,"body":"With regard to the emails they"},{"speaker":"Carl Widger","startTime":3938.3399999999997,"endTime":3941.64,"body":"send me, I'm not replying to"},{"speaker":"Carl Widger","startTime":3941.64,"endTime":3945.9,"body":"everything. I don't need to"},{"speaker":"Carl Widger","startTime":3941.64,"endTime":3945.9,"body":"reply to every text message. I"},{"speaker":"Carl Widger","startTime":3945.9,"endTime":3951.06,"body":"say no to loads and loads of"},{"speaker":"Carl Widger","startTime":3945.9,"endTime":3951.06,"body":"things. I was due to go out last"},{"speaker":"Carl Widger","startTime":3951.06,"endTime":3955.08,"body":"weekend and went show up. I'm"},{"speaker":"Carl Widger","startTime":3951.06,"endTime":3955.08,"body":"just I'm not up for I'm not"},{"speaker":"Carl Widger","startTime":3955.08,"endTime":3958.7599999999998,"body":"gonna go out. I'm just gonna"},{"speaker":"Carl Widger","startTime":3955.08,"endTime":3958.7599999999998,"body":"look after myself, and there are"},{"speaker":"Carl Widger","startTime":3958.7599999999998,"endTime":3961.58,"body":"people going here that's not"},{"speaker":"Carl Widger","startTime":3958.7599999999998,"endTime":3961.58,"body":"okay, or whatever. You know now,"},{"speaker":"Carl Widger","startTime":3961.58,"endTime":3964.04,"body":"look, if I've committed to"},{"speaker":"Carl Widger","startTime":3961.58,"endTime":3964.04,"body":"something and it's important, I"},{"speaker":"Carl Widger","startTime":3964.04,"endTime":3966.7999999999997,"body":"will be there. It's not that I'm"},{"speaker":"Carl Widger","startTime":3964.04,"endTime":3966.7999999999997,"body":"not turning up to loads and"},{"speaker":"Carl Widger","startTime":3966.7999999999997,"endTime":3969.68,"body":"loads of different things, but"},{"speaker":"Carl Widger","startTime":3966.7999999999997,"endTime":3969.68,"body":"I'm creating lots of space for"},{"speaker":"Carl Widger","startTime":3969.68,"endTime":3975.38,"body":"myself, and you have a habit of"},{"speaker":"Carl Widger","startTime":3969.68,"endTime":3975.38,"body":"filling the space, and I'm"},{"speaker":"Carl Widger","startTime":3975.5,"endTime":3980.74,"body":"trying my. Damnedest not to fill"},{"speaker":"Carl Widger","startTime":3975.5,"endTime":3980.74,"body":"the space and, and I can't tell"},{"speaker":"Carl Widger","startTime":3980.74,"endTime":3985.24,"body":"you how much that phrase"},{"speaker":"Carl Widger","startTime":3980.74,"endTime":3985.24,"body":"consistency is the intensity I"},{"speaker":"Carl Widger","startTime":3985.24,"endTime":3989.62,"body":"had an awful it's in my"},{"speaker":"Carl Widger","startTime":3985.24,"endTime":3989.62,"body":"personality to, you know, really"},{"speaker":"Carl Widger","startTime":3989.62,"endTime":3993.16,"body":"go and do something and right?"},{"speaker":"Carl Widger","startTime":3989.62,"endTime":3993.16,"body":"And to say that's actually not"},{"speaker":"Carl Widger","startTime":3993.4,"endTime":3998.16,"body":"life is much longer, you know,"},{"speaker":"Carl Widger","startTime":3993.4,"endTime":3998.16,"body":"and it's, it's, it's a journey,"},{"speaker":"Carl Widger","startTime":3998.16,"endTime":4001.7,"body":"and you gotta, you know, instead"},{"speaker":"Carl Widger","startTime":3998.16,"endTime":4001.7,"body":"of that target. And then I get"},{"speaker":"Carl Widger","startTime":4001.7,"endTime":4004.3399999999997,"body":"it, and then I move on to the"},{"speaker":"Carl Widger","startTime":4001.7,"endTime":4004.3399999999997,"body":"next thing. It's like, you know,"},{"speaker":"Carl Widger","startTime":4004.3399999999997,"endTime":4006.98,"body":"I'm going into the new year now."},{"speaker":"Carl Widger","startTime":4004.3399999999997,"endTime":4006.98,"body":"I'm going into Christmas, going,"},{"speaker":"Carl Widger","startTime":4007.64,"endTime":4011.2999999999997,"body":"can't wait for Christmas. I"},{"speaker":"Carl Widger","startTime":4007.64,"endTime":4011.2999999999997,"body":"can't wait for the new year. I'm"},{"speaker":"Carl Widger","startTime":4011.2999999999997,"endTime":4015.7999999999997,"body":"planning lots of stuff for"},{"speaker":"Carl Widger","startTime":4011.2999999999997,"endTime":4015.7999999999997,"body":"myself for in the new year. So"},{"speaker":"Carl Widger","startTime":4015.7999999999997,"endTime":4019.9,"body":"I'd say, to summarize, very long"},{"speaker":"Carl Widger","startTime":4015.7999999999997,"endTime":4019.9,"body":"winded answer to your question,"},{"speaker":"Carl Widger","startTime":4020.08,"endTime":4024.7,"body":"Alan, say no to loads and loads"},{"speaker":"Carl Widger","startTime":4020.08,"endTime":4024.7,"body":"and loads of things. And you"},{"speaker":"Carl Widger","startTime":4024.7,"endTime":4026.56,"body":"guys know I'm actually doing"},{"speaker":"Nick Lincoln","startTime":4026.74,"endTime":4028.2999999999997,"body":"it. Well done."},{"speaker":"Nick Lincoln","startTime":4026.74,"endTime":4028.2999999999997,"body":"Well done."},{"speaker":"Andy Hart","startTime":4028.2999999999997,"endTime":4030.2799999999997,"body":"It's great. Well"},{"speaker":"Andy Hart","startTime":4028.2999999999997,"endTime":4030.2799999999997,"body":"done, mate. For a moment, then"},{"speaker":"Andy Hart","startTime":4030.2799999999997,"endTime":4032.68,"body":"I'll probably gonna ask him"},{"speaker":"Andy Hart","startTime":4030.2799999999997,"endTime":4032.68,"body":"where he got his jumper from."},{"speaker":"Andy Hart","startTime":4032.68,"endTime":4033.52,"body":"Thank God you didn't."},{"speaker":"Alan Smith","startTime":4033.8199999999997,"endTime":4036.64,"body":"No, no. It's quite"},{"speaker":"Alan Smith","startTime":4033.8199999999997,"endTime":4036.64,"body":"obvious where he got it from."},{"speaker":"Nick Lincoln","startTime":4036.7599999999998,"endTime":4038.7,"body":"Very good saying"},{"speaker":"Nick Lincoln","startTime":4036.7599999999998,"endTime":4038.7,"body":"no, is a single power without"},{"speaker":"Nick Lincoln","startTime":4038.7,"endTime":4041.46,"body":"shoulder. Okay, I think I'm the"},{"speaker":"Nick Lincoln","startTime":4038.7,"endTime":4041.46,"body":"last one to go. And then we'll"},{"speaker":"Nick Lincoln","startTime":4041.46,"endTime":4045.24,"body":"wrap up the meat of potatoes"},{"speaker":"Nick Lincoln","startTime":4041.46,"endTime":4045.24,"body":"section. My joy, my thing that's"},{"speaker":"Nick Lincoln","startTime":4045.24,"endTime":4048.96,"body":"brought me happiness this year"},{"speaker":"Nick Lincoln","startTime":4045.24,"endTime":4048.96,"body":"is, I won't make this overly"},{"speaker":"Nick Lincoln","startTime":4048.96,"endTime":4051.96,"body":"political, but I think over the"},{"speaker":"Nick Lincoln","startTime":4048.96,"endTime":4051.96,"body":"last 1015, years, there's been a"},{"speaker":"Nick Lincoln","startTime":4051.96,"endTime":4056.4,"body":"real pressure on what people say"},{"speaker":"Nick Lincoln","startTime":4051.96,"endTime":4056.4,"body":"there's freedom of language,"},{"speaker":"Nick Lincoln","startTime":4056.4,"endTime":4059.06,"body":"freedom of expression has taken"},{"speaker":"Nick Lincoln","startTime":4056.4,"endTime":4059.06,"body":"a real battering, and there"},{"speaker":"Nick Lincoln","startTime":4059.06,"endTime":4061.52,"body":"seems to be a real pushback"},{"speaker":"Nick Lincoln","startTime":4059.06,"endTime":4061.52,"body":"against it around the world."},{"speaker":"Nick Lincoln","startTime":4062.96,"endTime":4065.48,"body":"People like Javi MLA in"},{"speaker":"Nick Lincoln","startTime":4062.96,"endTime":4065.48,"body":"Argentina is doing amazing"},{"speaker":"Nick Lincoln","startTime":4065.48,"endTime":4068.42,"body":"things, rolling back the state."},{"speaker":"Nick Lincoln","startTime":4065.48,"endTime":4068.42,"body":"If you could just discount Trump"},{"speaker":"Nick Lincoln","startTime":4068.42,"endTime":4071.0,"body":"and ignore him, the team he's"},{"speaker":"Nick Lincoln","startTime":4068.42,"endTime":4071.0,"body":"putting around him, because I"},{"speaker":"Nick Lincoln","startTime":4071.0,"endTime":4073.46,"body":"know some people have Trump"},{"speaker":"Nick Lincoln","startTime":4071.0,"endTime":4073.46,"body":"arrangement syndrome, the team"},{"speaker":"Nick Lincoln","startTime":4073.46,"endTime":4076.3599999999997,"body":"he's put around him is going to"},{"speaker":"Nick Lincoln","startTime":4073.46,"endTime":4076.3599999999997,"body":"be so interesting. Musk vibe,"},{"speaker":"Nick Lincoln","startTime":4076.54,"endTime":4079.54,"body":"Ramaswamy, JD, Vance, Tulsi"},{"speaker":"Nick Lincoln","startTime":4076.54,"endTime":4079.54,"body":"gabble, Robert Kennedy, these"},{"speaker":"Nick Lincoln","startTime":4079.54,"endTime":4083.14,"body":"are all Democrats who say to a"},{"speaker":"Nick Lincoln","startTime":4079.54,"endTime":4083.14,"body":"man and a woman, I haven't left"},{"speaker":"Nick Lincoln","startTime":4083.14,"endTime":4085.42,"body":"the Democrats, they left me."},{"speaker":"Nick Lincoln","startTime":4083.14,"endTime":4085.42,"body":"It's a really interesting"},{"speaker":"Nick Lincoln","startTime":4085.42,"endTime":4087.94,"body":"movement. We're saying because I"},{"speaker":"Nick Lincoln","startTime":4085.42,"endTime":4087.94,"body":"think people start to wake up,"},{"speaker":"Nick Lincoln","startTime":4087.94,"endTime":4091.06,"body":"the state is just too big in the"},{"speaker":"Nick Lincoln","startTime":4087.94,"endTime":4091.06,"body":"Western world. This country,"},{"speaker":"Nick Lincoln","startTime":4091.06,"endTime":4094.66,"body":"we're unusual. Western Europe is"},{"speaker":"Nick Lincoln","startTime":4091.06,"endTime":4094.66,"body":"also going the way of Argentina"},{"speaker":"Nick Lincoln","startTime":4094.66,"endTime":4098.9400000000005,"body":"and the US terrorist politics."},{"speaker":"Nick Lincoln","startTime":4094.66,"endTime":4098.9400000000005,"body":"We're an outlier here. We voted"},{"speaker":"Nick Lincoln","startTime":4098.9400000000005,"endTime":4101.52,"body":"for a party that believes in a"},{"speaker":"Nick Lincoln","startTime":4098.9400000000005,"endTime":4101.52,"body":"bigger state and a bigger state."},{"speaker":"Nick Lincoln","startTime":4102.12,"endTime":4104.82,"body":"I do think the tide is turning."},{"speaker":"Nick Lincoln","startTime":4102.12,"endTime":4104.82,"body":"I think people have had enough"},{"speaker":"Nick Lincoln","startTime":4104.82,"endTime":4107.28,"body":"of this, of this, or this"},{"speaker":"Nick Lincoln","startTime":4104.82,"endTime":4107.28,"body":"thought police nonsense, and I"},{"speaker":"Nick Lincoln","startTime":4107.28,"endTime":4109.56,"body":"think it's going to be good for"},{"speaker":"Nick Lincoln","startTime":4107.28,"endTime":4109.56,"body":"us all. There'll be some pain"},{"speaker":"Nick Lincoln","startTime":4109.56,"endTime":4112.2,"body":"involved. And whatever America"},{"speaker":"Nick Lincoln","startTime":4109.56,"endTime":4112.2,"body":"does, we eventually do, okay,"},{"speaker":"Nick Lincoln","startTime":4112.2,"endTime":4114.4800000000005,"body":"we're just, we're just a cold in"},{"speaker":"Nick Lincoln","startTime":4112.2,"endTime":4114.4800000000005,"body":"America, really, as many"},{"speaker":"Nick Lincoln","startTime":4114.4800000000005,"endTime":4116.9000000000005,"body":"countries in the world, because"},{"speaker":"Nick Lincoln","startTime":4114.4800000000005,"endTime":4116.9000000000005,"body":"of its enormous cultural"},{"speaker":"Nick Lincoln","startTime":4116.9000000000005,"endTime":4119.72,"body":"influence and economic size. It"},{"speaker":"Nick Lincoln","startTime":4116.9000000000005,"endTime":4119.72,"body":"just drives so much. That's I"},{"speaker":"Nick Lincoln","startTime":4119.72,"endTime":4122.72,"body":"think I feel really positive for"},{"speaker":"Nick Lincoln","startTime":4119.72,"endTime":4122.72,"body":"the future. I'm going to quickly"},{"speaker":"Nick Lincoln","startTime":4122.72,"endTime":4125.6,"body":"wrap up mine. I'll say thank you"},{"speaker":"Nick Lincoln","startTime":4122.72,"endTime":4125.6,"body":"to my son, Luke and my wife, the"},{"speaker":"Nick Lincoln","startTime":4125.66,"endTime":4128.42,"body":"lovely Penelope. TLP, I'm just"},{"speaker":"Nick Lincoln","startTime":4125.66,"endTime":4128.42,"body":"blessed to have these two people"},{"speaker":"Nick Lincoln","startTime":4128.42,"endTime":4131.18,"body":"into my life. I'm very lucky."},{"speaker":"Nick Lincoln","startTime":4128.42,"endTime":4131.18,"body":"They mean the world to me, and"},{"speaker":"Nick Lincoln","startTime":4131.18,"endTime":4134.72,"body":"they are my rocks. And that is"},{"speaker":"Nick Lincoln","startTime":4131.18,"endTime":4134.72,"body":"me really with my wins. And I"},{"speaker":"Nick Lincoln","startTime":4134.72,"endTime":4135.9800000000005,"body":"think all of our wins for 2024"},{"speaker":"Unknown","startTime":4136.58,"endTime":4138.76,"body":"Can we play kumbaya to"},{"speaker":"Unknown","startTime":4136.58,"endTime":4138.76,"body":"finish that one off? Nick, I've"},{"speaker":"Unknown","startTime":4138.76,"endTime":4139.9000000000005,"body":"already done it, and you only"},{"speaker":"Nick Lincoln","startTime":4139.9000000000005,"endTime":4141.64,"body":"know once from the"},{"speaker":"Nick Lincoln","startTime":4139.9000000000005,"endTime":4141.64,"body":"side. As you know. Andrew, you"},{"speaker":"Nick Lincoln","startTime":4141.64,"endTime":4144.58,"body":"can't pay it twice. What's the"},{"speaker":"Nick Lincoln","startTime":4141.64,"endTime":4144.58,"body":"one you like? Let's do this one"},{"speaker":"Nick Lincoln","startTime":4144.58,"endTime":4145.24,"body":"you like something."},{"speaker":"Unknown","startTime":4149.92,"endTime":4152.38,"body":"There we go. When you"},{"speaker":"Unknown","startTime":4149.92,"endTime":4152.38,"body":"played that first for Alan, that"},{"speaker":"Unknown","startTime":4152.38,"endTime":4153.88,"body":"is the short out"},{"speaker":"Nick Lincoln","startTime":4154.779,"endTime":4157.439,"body":"there. Check it"},{"speaker":"Nick Lincoln","startTime":4154.779,"endTime":4157.439,"body":"out. We are seven minutes into"},{"speaker":"Nick Lincoln","startTime":4157.919,"endTime":4161.039,"body":"this, which can only mean that"},{"speaker":"Nick Lincoln","startTime":4157.919,"endTime":4161.039,"body":"we're getting very close to the"},{"speaker":"Nick Lincoln","startTime":4161.039,"endTime":4163.379,"body":"end of this show, the very end"},{"speaker":"Nick Lincoln","startTime":4161.039,"endTime":4163.379,"body":"of the last show, actually not"},{"speaker":"Nick Lincoln","startTime":4163.379,"endTime":4165.659000000001,"body":"maybe the last show. We'll talk"},{"speaker":"Nick Lincoln","startTime":4163.379,"endTime":4165.659000000001,"body":"about that guys as well before"},{"speaker":"Nick Lincoln","startTime":4165.659000000001,"endTime":4168.179,"body":"we stop the recording. But we"},{"speaker":"Nick Lincoln","startTime":4165.659000000001,"endTime":4168.179,"body":"need to move on. Because I can"},{"speaker":"Nick Lincoln","startTime":4168.179,"endTime":4170.939,"body":"see post is dragging the bulging"},{"speaker":"Nick Lincoln","startTime":4168.179,"endTime":4170.939,"body":"sack up my drive. She's about to"},{"speaker":"Nick Lincoln","startTime":4170.939,"endTime":4173.099,"body":"ring the front door, but there"},{"speaker":"Nick Lincoln","startTime":4170.939,"endTime":4173.099,"body":"she goes. It's amazing. It's"},{"speaker":"Nick Lincoln","startTime":4173.099,"endTime":4175.619,"body":"almost spontaneous. This is the"},{"speaker":"Nick Lincoln","startTime":4173.099,"endTime":4175.619,"body":"bulging sack of TRAPPIST"},{"speaker":"Nick Lincoln","startTime":4175.619,"endTime":4178.339,"body":"questions sent in by you, our"},{"speaker":"Nick Lincoln","startTime":4175.619,"endTime":4178.339,"body":"beloved TRAPPIST, and we get"},{"speaker":"Nick Lincoln","startTime":4178.339,"endTime":4180.499,"body":"through them. If you want to"},{"speaker":"Nick Lincoln","startTime":4178.339,"endTime":4180.499,"body":"send us a question, there's a"},{"speaker":"Nick Lincoln","startTime":4180.499,"endTime":4184.759,"body":"link in the pinned tweet on x,"},{"speaker":"Nick Lincoln","startTime":4180.499,"endTime":4184.759,"body":"or the pinned X on Twitter, or"},{"speaker":"Nick Lincoln","startTime":4184.759,"endTime":4187.039,"body":"whatever so and also the so"},{"speaker":"Nick Lincoln","startTime":4184.759,"endTime":4187.039,"body":"called show notes. We are"},{"speaker":"Nick Lincoln","startTime":4187.039,"endTime":4189.559,"body":"getting through the questions."},{"speaker":"Nick Lincoln","startTime":4187.039,"endTime":4189.559,"body":"We're now to June of this year,"},{"speaker":"Nick Lincoln","startTime":4189.559,"endTime":4192.559,"body":"and we've got two questions"},{"speaker":"Nick Lincoln","startTime":4189.559,"endTime":4192.559,"body":"today, guys. We'll see if we can"},{"speaker":"Nick Lincoln","startTime":4192.559,"endTime":4195.379,"body":"do both of them, depending on on"},{"speaker":"Nick Lincoln","startTime":4192.559,"endTime":4195.379,"body":"time and so forth. This one is"},{"speaker":"Nick Lincoln","startTime":4195.379,"endTime":4198.2789999999995,"body":"an anonymous it's from someone"},{"speaker":"Nick Lincoln","startTime":4195.379,"endTime":4198.2789999999995,"body":"called a n advisor that can't be"},{"speaker":"Nick Lincoln","startTime":4198.2789999999995,"endTime":4200.979,"body":"his real name, one of these"},{"speaker":"Nick Lincoln","startTime":4198.2789999999995,"endTime":4200.979,"body":"multiple questions where I run"},{"speaker":"Nick Lincoln","startTime":4200.979,"endTime":4203.259,"body":"out of breath halfway through."},{"speaker":"Nick Lincoln","startTime":4200.979,"endTime":4203.259,"body":"Hello, trap hosts, I've recently"},{"speaker":"Nick Lincoln","startTime":4203.259,"endTime":4206.199,"body":"discovered your podcast, and I'm"},{"speaker":"Nick Lincoln","startTime":4203.259,"endTime":4206.199,"body":"finding the content extremely"},{"speaker":"Nick Lincoln","startTime":4206.199,"endTime":4208.719,"body":"helpful in my journey as a"},{"speaker":"Nick Lincoln","startTime":4206.199,"endTime":4208.719,"body":"financial advisor. I am a newly"},{"speaker":"Nick Lincoln","startTime":4208.719,"endTime":4211.899,"body":"qualified advisor, and I'm"},{"speaker":"Nick Lincoln","startTime":4208.719,"endTime":4211.899,"body":"currently under one of the large"},{"speaker":"Nick Lincoln","startTime":4211.899,"endTime":4215.739,"body":"AR networks, a firm of around"},{"speaker":"Nick Lincoln","startTime":4211.899,"endTime":4215.739,"body":"12, most of whom are mortgage"},{"speaker":"Nick Lincoln","startTime":4215.739,"endTime":4218.639,"body":"advisors. I have been planning"},{"speaker":"Nick Lincoln","startTime":4215.739,"endTime":4218.639,"body":"ahead, and I would very much"},{"speaker":"Nick Lincoln","startTime":4218.639,"endTime":4221.879,"body":"like to leave the AR sphere in"},{"speaker":"Nick Lincoln","startTime":4218.639,"endTime":4221.879,"body":"the next 18 to 24 months, once"},{"speaker":"Nick Lincoln","startTime":4221.879,"endTime":4225.059,"body":"my current firm is in a position"},{"speaker":"Nick Lincoln","startTime":4221.879,"endTime":4225.059,"body":"to cope well enough without me."},{"speaker":"Nick Lincoln","startTime":4226.259,"endTime":4228.839,"body":"Do you have any advice on"},{"speaker":"Nick Lincoln","startTime":4226.259,"endTime":4228.839,"body":"planning this move in terms of"},{"speaker":"Nick Lincoln","startTime":4228.839,"endTime":4231.299,"body":"discussing it with my current"},{"speaker":"Nick Lincoln","startTime":4228.839,"endTime":4231.299,"body":"firm and my clients to make the"},{"speaker":"Nick Lincoln","startTime":4231.299,"endTime":4233.879,"body":"transition as smooth as"},{"speaker":"Nick Lincoln","startTime":4231.299,"endTime":4233.879,"body":"possible? Apologies for the"},{"speaker":"Nick Lincoln","startTime":4233.879,"endTime":4238.219,"body":"anonymity. It's always a tongue"},{"speaker":"Nick Lincoln","startTime":4233.879,"endTime":4238.219,"body":"twister. I don't wish to show my"},{"speaker":"Nick Lincoln","startTime":4238.219,"endTime":4241.639,"body":"hands my current firm just yet,"},{"speaker":"Nick Lincoln","startTime":4238.219,"endTime":4241.639,"body":"right? I'm out of breath, so I"},{"speaker":"Nick Lincoln","startTime":4241.639,"endTime":4243.259,"body":"can't answer that. One of you"},{"speaker":"Nick Lincoln","startTime":4241.639,"endTime":4243.259,"body":"three count. Oh,"},{"speaker":"Andy Hart","startTime":4243.32,"endTime":4245.5999999999995,"body":"go quickly, and then"},{"speaker":"Andy Hart","startTime":4243.32,"endTime":4245.5999999999995,"body":"I'm sure the guys that run"},{"speaker":"Andy Hart","startTime":4245.5999999999995,"endTime":4248.0599999999995,"body":"larger firms will have an"},{"speaker":"Andy Hart","startTime":4245.5999999999995,"endTime":4248.0599999999995,"body":"opinion on it. I tread very"},{"speaker":"Andy Hart","startTime":4248.0599999999995,"endTime":4251.5999999999995,"body":"carefully. I don't quite know"},{"speaker":"Andy Hart","startTime":4248.0599999999995,"endTime":4251.5999999999995,"body":"the detail, but I certainly"},{"speaker":"Andy Hart","startTime":4251.5999999999995,"endTime":4254.42,"body":"wouldn't be mentioning it to"},{"speaker":"Andy Hart","startTime":4251.5999999999995,"endTime":4254.42,"body":"your current firm unless things"},{"speaker":"Andy Hart","startTime":4254.42,"endTime":4257.38,"body":"were very much firmed up. The"},{"speaker":"Andy Hart","startTime":4254.42,"endTime":4257.38,"body":"relationship will change"},{"speaker":"Andy Hart","startTime":4257.38,"endTime":4260.38,"body":"immediately once you tell your"},{"speaker":"Andy Hart","startTime":4257.38,"endTime":4260.38,"body":"boss that you're thinking about"},{"speaker":"Andy Hart","startTime":4260.38,"endTime":4263.32,"body":"setting up on your own and"},{"speaker":"Andy Hart","startTime":4260.38,"endTime":4263.32,"body":"moving elsewhere. The client"},{"speaker":"Andy Hart","startTime":4263.32,"endTime":4266.0199999999995,"body":"situation, again, is quite an"},{"speaker":"Andy Hart","startTime":4263.32,"endTime":4266.0199999999995,"body":"interesting one. Again, I don't"},{"speaker":"Andy Hart","startTime":4266.0199999999995,"endTime":4269.14,"body":"know who owns the client. Nobody"},{"speaker":"Andy Hart","startTime":4266.0199999999995,"endTime":4269.14,"body":"owns clients. Is it the firm? Is"},{"speaker":"Andy Hart","startTime":4269.14,"endTime":4271.9,"body":"it the person? What's the"},{"speaker":"Andy Hart","startTime":4269.14,"endTime":4271.9,"body":"contract set up? So again,"},{"speaker":"Andy Hart","startTime":4271.9,"endTime":4276.04,"body":"you're going to be on slightly"},{"speaker":"Andy Hart","startTime":4271.9,"endTime":4276.04,"body":"unusual grounds there. So just."},{"speaker":"Andy Hart","startTime":4276.12,"endTime":4280.5,"body":"Very carefully, is what I would"},{"speaker":"Andy Hart","startTime":4276.12,"endTime":4280.5,"body":"say. I've left a couple of firms"},{"speaker":"Andy Hart","startTime":4280.5,"endTime":4282.84,"body":"over the years, and then my"},{"speaker":"Andy Hart","startTime":4280.5,"endTime":4282.84,"body":"third firm I worked for was my"},{"speaker":"Andy Hart","startTime":4282.84,"endTime":4285.84,"body":"was my own. The path then was a"},{"speaker":"Andy Hart","startTime":4282.84,"endTime":4285.84,"body":"little bit different to what it"},{"speaker":"Andy Hart","startTime":4285.84,"endTime":4288.12,"body":"is now. So if you think about"},{"speaker":"Andy Hart","startTime":4285.84,"endTime":4288.12,"body":"setting up directly authorized"},{"speaker":"Andy Hart","startTime":4288.12,"endTime":4292.44,"body":"again, it's not that easy. I"},{"speaker":"Andy Hart","startTime":4288.12,"endTime":4292.44,"body":"think about 11% of firms get get"},{"speaker":"Andy Hart","startTime":4292.44,"endTime":4296.66,"body":"the sign off, and it's a painful"},{"speaker":"Andy Hart","startTime":4292.44,"endTime":4296.66,"body":"journey. Just tread very"},{"speaker":"Andy Hart","startTime":4296.66,"endTime":4301.5199999999995,"body":"carefully with what your next"},{"speaker":"Andy Hart","startTime":4296.66,"endTime":4301.5199999999995,"body":"move may be. Over to the lads"},{"speaker":"Andy Hart","startTime":4301.5199999999995,"endTime":4305.36,"body":"that run larger firms. Come"},{"speaker":"Alan Smith","startTime":4307.58,"endTime":4312.68,"body":"I'll go information"},{"speaker":"Alan Smith","startTime":4307.58,"endTime":4312.68,"body":"there, and I get I fully"},{"speaker":"Alan Smith","startTime":4312.68,"endTime":4315.32,"body":"understand why it needs to be"},{"speaker":"Alan Smith","startTime":4312.68,"endTime":4315.32,"body":"anonymous not there's not"},{"speaker":"Alan Smith","startTime":4315.32,"endTime":4318.46,"body":"enough. He says, It's not"},{"speaker":"Alan Smith","startTime":4315.32,"endTime":4318.46,"body":"nothing. I'm going to leave,"},{"speaker":"Alan Smith","startTime":4318.46,"endTime":4321.76,"body":"just with my firm. Can, was it?"},{"speaker":"Alan Smith","startTime":4318.46,"endTime":4321.76,"body":"Can? Can manage me leaving or"},{"speaker":"Alan Smith","startTime":4321.76,"endTime":4324.28,"body":"something. What are the down his"},{"speaker":"Alan Smith","startTime":4321.76,"endTime":4324.28,"body":"income or something? The entire"},{"speaker":"Alan Smith","startTime":4324.28,"endTime":4327.64,"body":"company can watch that well"},{"speaker":"Alan Smith","startTime":4324.28,"endTime":4327.64,"body":"enough without me. What does"},{"speaker":"Alan Smith","startTime":4327.64,"endTime":4330.76,"body":"that mean? Was the firm with"},{"speaker":"Alan Smith","startTime":4327.64,"endTime":4330.76,"body":"loads of advisors, so"},{"speaker":"Unknown","startTime":4330.82,"endTime":4333.22,"body":"I'm not sure. Yeah,"},{"speaker":"Unknown","startTime":4330.82,"endTime":4333.22,"body":"they"},{"speaker":"Unknown","startTime":4333.22,"endTime":4334.78,"body":"say they're mortgage advisors,"},{"speaker":"Unknown","startTime":4333.22,"endTime":4334.78,"body":"yeah,"},{"speaker":"Alan Smith","startTime":4334.78,"endTime":4338.58,"body":"mainly advisors. So,"},{"speaker":"Alan Smith","startTime":4334.78,"endTime":4338.58,"body":"yeah, I don't really get that"},{"speaker":"Alan Smith","startTime":4338.64,"endTime":4342.54,"body":"and what I mean, and AR, that's"},{"speaker":"Alan Smith","startTime":4338.64,"endTime":4342.54,"body":"what the firm is an AR. The"},{"speaker":"Alan Smith","startTime":4342.54,"endTime":4345.54,"body":"firm's an AR of another bigger"},{"speaker":"Alan Smith","startTime":4342.54,"endTime":4345.54,"body":"firm. Or don't worry about the"},{"speaker":"Alan Smith","startTime":4345.54,"endTime":4349.26,"body":"detail, just focus, because it"},{"speaker":"Alan Smith","startTime":4345.54,"endTime":4349.26,"body":"does No, it does, it does tell"},{"speaker":"Alan Smith","startTime":4349.26,"endTime":4352.0199999999995,"body":"your bosses No, but it matters."},{"speaker":"Alan Smith","startTime":4349.26,"endTime":4352.0199999999995,"body":"So, so here's my tape, which"},{"speaker":"Alan Smith","startTime":4352.0199999999995,"endTime":4355.08,"body":"might be different to yours."},{"speaker":"Alan Smith","startTime":4352.0199999999995,"endTime":4355.08,"body":"Yes, if you've got your path"},{"speaker":"Alan Smith","startTime":4355.08,"endTime":4357.08,"body":"carved out, and you know what"},{"speaker":"Alan Smith","startTime":4355.08,"endTime":4357.08,"body":"you're doing and where you're"},{"speaker":"Alan Smith","startTime":4357.08,"endTime":4359.3,"body":"doing and where you're going,"},{"speaker":"Alan Smith","startTime":4357.08,"endTime":4359.3,"body":"and you've really explored it,"},{"speaker":"Alan Smith","startTime":4359.3,"endTime":4361.46,"body":"because you make a point you're"},{"speaker":"Alan Smith","startTime":4359.3,"endTime":4361.46,"body":"going to set up directly"},{"speaker":"Alan Smith","startTime":4361.46,"endTime":4365.0599999999995,"body":"authorized is difficult. The"},{"speaker":"Alan Smith","startTime":4361.46,"endTime":4365.0599999999995,"body":"Network option, which is also an"},{"speaker":"Alan Smith","startTime":4365.0599999999995,"endTime":4368.54,"body":"AR, by the way, that's another"},{"speaker":"Alan Smith","startTime":4365.0599999999995,"endTime":4368.54,"body":"name for it, becomes the more"},{"speaker":"Alan Smith","startTime":4368.54,"endTime":4372.68,"body":"popular option. But here's the"},{"speaker":"Alan Smith","startTime":4368.54,"endTime":4372.68,"body":"thing, I think you should be"},{"speaker":"Alan Smith","startTime":4373.22,"endTime":4376.5999999999995,"body":"candid, open, straightforward,"},{"speaker":"Alan Smith","startTime":4373.22,"endTime":4376.5999999999995,"body":"and speak to your boss, speak to"},{"speaker":"Alan Smith","startTime":4376.5999999999995,"endTime":4379.96,"body":"people who run the company and"},{"speaker":"Alan Smith","startTime":4376.5999999999995,"endTime":4379.96,"body":"tell them the truth. Explain"},{"speaker":"Alan Smith","startTime":4379.96,"endTime":4383.92,"body":"your reasons why you're planning"},{"speaker":"Alan Smith","startTime":4379.96,"endTime":4383.92,"body":"to go work it all out. Have a"},{"speaker":"Alan Smith","startTime":4383.92,"endTime":4386.62,"body":"grown up conversation about the"},{"speaker":"Alan Smith","startTime":4383.92,"endTime":4386.62,"body":"client relationships. It does"},{"speaker":"Alan Smith","startTime":4386.62,"endTime":4389.74,"body":"not need to be adversarial. I've"},{"speaker":"Alan Smith","startTime":4386.62,"endTime":4389.74,"body":"had people who've chosen to move"},{"speaker":"Alan Smith","startTime":4389.74,"endTime":4390.88,"body":"on from my going"},{"speaker":"Andy Hart","startTime":4390.88,"endTime":4393.64,"body":"into that"},{"speaker":"Andy Hart","startTime":4390.88,"endTime":4393.64,"body":"conversation, you have to assume"},{"speaker":"Andy Hart","startTime":4393.76,"endTime":4398.22,"body":"it could be curtains. If it's"},{"speaker":"Andy Hart","startTime":4393.76,"endTime":4398.22,"body":"not great, you got to go to all"},{"speaker":"Andy Hart","startTime":4398.22,"endTime":4399.96,"body":"got well,"},{"speaker":"Alan Smith","startTime":4400.0199999999995,"endTime":4402.78,"body":"one of which is you"},{"speaker":"Alan Smith","startTime":4400.0199999999995,"endTime":4402.78,"body":"talk to clear your desk"},{"speaker":"Alan Smith","startTime":4402.9,"endTime":4406.5599999999995,"body":"immediately, immediately. Assume"},{"speaker":"Alan Smith","startTime":4402.9,"endTime":4406.5599999999995,"body":"it might be game over. Yeah,"},{"speaker":"Alan Smith","startTime":4406.5599999999995,"endTime":4409.44,"body":"assume that might be, but hope"},{"speaker":"Alan Smith","startTime":4406.5599999999995,"endTime":4409.44,"body":"that it won't be. Now only he"},{"speaker":"Alan Smith","startTime":4409.44,"endTime":4412.68,"body":"can, he or she can judge in"},{"speaker":"Alan Smith","startTime":4409.44,"endTime":4412.68,"body":"terms of because they will know"},{"speaker":"Alan Smith","startTime":4412.68,"endTime":4415.2,"body":"the relationships and know the"},{"speaker":"Alan Smith","startTime":4412.68,"endTime":4415.2,"body":"company, know the senior people"},{"speaker":"Alan Smith","startTime":4415.2,"endTime":4417.66,"body":"involved in the organization,"},{"speaker":"Alan Smith","startTime":4415.2,"endTime":4417.66,"body":"and I have heard some negative"},{"speaker":"Alan Smith","startTime":4417.66,"endTime":4420.32,"body":"stories that you told us to piss"},{"speaker":"Alan Smith","startTime":4417.66,"endTime":4420.32,"body":"off. Told us to piss off, and"},{"speaker":"Alan Smith","startTime":4420.32,"endTime":4425.0,"body":"the dynamic changes immediately."},{"speaker":"Alan Smith","startTime":4420.32,"endTime":4425.0,"body":"Yes, exactly, but you should go"},{"speaker":"Alan Smith","startTime":4425.0,"endTime":4428.24,"body":"in with the best of intentions."},{"speaker":"Alan Smith","startTime":4425.0,"endTime":4428.24,"body":"So when I part a company with"},{"speaker":"Alan Smith","startTime":4428.24,"endTime":4430.88,"body":"people, the ones that have done"},{"speaker":"Alan Smith","startTime":4428.24,"endTime":4430.88,"body":"it with honesty and integrity"},{"speaker":"Alan Smith","startTime":4430.88,"endTime":4434.36,"body":"clarity, I'm still good friends"},{"speaker":"Alan Smith","startTime":4430.88,"endTime":4434.36,"body":"with now, and I fully understand"},{"speaker":"Alan Smith","startTime":4434.36,"endTime":4436.5999999999995,"body":"the reason, and I've actually"},{"speaker":"Alan Smith","startTime":4434.36,"endTime":4436.5999999999995,"body":"supported them. I've helped them"},{"speaker":"Alan Smith","startTime":4436.5999999999995,"endTime":4440.08,"body":"find other opportunities later"},{"speaker":"Alan Smith","startTime":4436.5999999999995,"endTime":4440.08,"body":"on, those that choose not to"},{"speaker":"Alan Smith","startTime":4440.14,"endTime":4443.74,"body":"choose to be a bit more devious"},{"speaker":"Alan Smith","startTime":4440.14,"endTime":4443.74,"body":"and good behind the scenes. It's"},{"speaker":"Alan Smith","startTime":4443.98,"endTime":4446.8,"body":"just, I was saying it's a small"},{"speaker":"Alan Smith","startTime":4443.98,"endTime":4446.8,"body":"village, our sector, our"},{"speaker":"Alan Smith","startTime":4446.8,"endTime":4448.3,"body":"professional industry, people"},{"speaker":"Alan Smith","startTime":4446.8,"endTime":4448.3,"body":"know"},{"speaker":"Andy Hart","startTime":4448.3,"endTime":4451.3,"body":"each other, quite"},{"speaker":"Andy Hart","startTime":4448.3,"endTime":4451.3,"body":"unique as a boss, firm owner,"},{"speaker":"Andy Hart","startTime":4451.3,"endTime":4453.5199999999995,"body":"though, in many ways, the"},{"speaker":"Andy Hart","startTime":4451.3,"endTime":4453.5199999999995,"body":"stories you tell me are"},{"speaker":"Andy Hart","startTime":4453.5199999999995,"endTime":4456.76,"body":"different to what I hear in the"},{"speaker":"Andy Hart","startTime":4453.5199999999995,"endTime":4456.76,"body":"in the scarier, wider world."},{"speaker":"Andy Hart","startTime":4456.76,"endTime":4460.14,"body":"What do you mean? But I mean"},{"speaker":"Andy Hart","startTime":4456.76,"endTime":4460.14,"body":"people. I do know. I think you"},{"speaker":"Andy Hart","startTime":4460.14,"endTime":4463.62,"body":"are a good person to speak to"},{"speaker":"Andy Hart","startTime":4460.14,"endTime":4463.62,"body":"about that, and you will manage"},{"speaker":"Andy Hart","startTime":4463.62,"endTime":4466.26,"body":"them out in the best way"},{"speaker":"Andy Hart","startTime":4463.62,"endTime":4466.26,"body":"possible. A lot of other firms I"},{"speaker":"Andy Hart","startTime":4466.26,"endTime":4468.3,"body":"hear about, it's a completely"},{"speaker":"Andy Hart","startTime":4466.26,"endTime":4468.3,"body":"not a, you"},{"speaker":"Alan Smith","startTime":4468.3,"endTime":4471.0,"body":"know, yeah, I do. I"},{"speaker":"Alan Smith","startTime":4468.3,"endTime":4471.0,"body":"hear it the other way. Of people"},{"speaker":"Alan Smith","startTime":4471.0,"endTime":4474.24,"body":"who are joining us. You're"},{"speaker":"Alan Smith","startTime":4471.0,"endTime":4474.24,"body":"unusual, is what I'm because I'm"},{"speaker":"Alan Smith","startTime":4474.48,"endTime":4479.12,"body":"fair and open. No one should. No"},{"speaker":"Alan Smith","startTime":4474.48,"endTime":4479.12,"body":"one should have the divine right"},{"speaker":"Alan Smith","startTime":4479.12,"endTime":4481.5199999999995,"body":"to have somebody work with them"},{"speaker":"Alan Smith","startTime":4479.12,"endTime":4481.5199999999995,"body":"for the rest of their career. I"},{"speaker":"Alan Smith","startTime":4481.64,"endTime":4484.94,"body":"got it. But if somebody, if"},{"speaker":"Alan Smith","startTime":4481.64,"endTime":4484.94,"body":"you're open, tell your boss and"},{"speaker":"Alan Smith","startTime":4484.94,"endTime":4487.64,"body":"allow the boss time to prepare."},{"speaker":"Alan Smith","startTime":4484.94,"endTime":4487.64,"body":"Just say, look, give us a couple"},{"speaker":"Alan Smith","startTime":4487.64,"endTime":4489.98,"body":"of months, because you might"},{"speaker":"Alan Smith","startTime":4487.64,"endTime":4489.98,"body":"need to get a replacement. And"},{"speaker":"Alan Smith","startTime":4489.98,"endTime":4492.38,"body":"what's the situation about"},{"speaker":"Alan Smith","startTime":4489.98,"endTime":4492.38,"body":"client relationships? So you'd"},{"speaker":"Alan Smith","startTime":4492.5599999999995,"endTime":4495.62,"body":"have to maybe, I am unusual, but"},{"speaker":"Alan Smith","startTime":4492.5599999999995,"endTime":4495.62,"body":"I hope more people would would"},{"speaker":"Alan Smith","startTime":4495.62,"endTime":4499.0,"body":"have a kind of dignified, grown"},{"speaker":"Alan Smith","startTime":4495.62,"endTime":4499.0,"body":"up approach. Now, as I said at"},{"speaker":"Alan Smith","startTime":4499.0,"endTime":4502.18,"body":"the beginning, only this"},{"speaker":"Alan Smith","startTime":4499.0,"endTime":4502.18,"body":"anonymous advisor knows the"},{"speaker":"Alan Smith","startTime":4502.18,"endTime":4505.54,"body":"facts. If he thinks that the"},{"speaker":"Alan Smith","startTime":4502.18,"endTime":4505.54,"body":"culture is is negative, and"},{"speaker":"Alan Smith","startTime":4505.54,"endTime":4508.42,"body":"they'll just close him down and"},{"speaker":"Alan Smith","startTime":4505.54,"endTime":4508.42,"body":"kick him out the minute he says"},{"speaker":"Alan Smith","startTime":4508.42,"endTime":4511.54,"body":"that, then he's got to prepare"},{"speaker":"Alan Smith","startTime":4508.42,"endTime":4511.54,"body":"himself. He's got to get going."},{"speaker":"Alan Smith","startTime":4511.5999999999995,"endTime":4514.18,"body":"That might happen in a row, if"},{"speaker":"Alan Smith","startTime":4511.5999999999995,"endTime":4514.18,"body":"you're assuming that, then do"},{"speaker":"Alan Smith","startTime":4514.36,"endTime":4518.22,"body":"exactly but I would start off"},{"speaker":"Alan Smith","startTime":4514.36,"endTime":4518.22,"body":"with taking the positive, more"},{"speaker":"Alan Smith","startTime":4518.46,"endTime":4523.5599999999995,"body":"open, friendly, communicative,"},{"speaker":"Alan Smith","startTime":4518.46,"endTime":4523.5599999999995,"body":"candid approach. Any last words?"},{"speaker":"Nick Lincoln","startTime":4524.82,"endTime":4527.04,"body":"No, I agree. Okay,"},{"speaker":"Nick Lincoln","startTime":4524.82,"endTime":4527.04,"body":"I think, I think in that"},{"speaker":"Nick Lincoln","startTime":4527.04,"endTime":4529.5599999999995,"body":"question, that that very, that"},{"speaker":"Nick Lincoln","startTime":4527.04,"endTime":4529.5599999999995,"body":"long, that long question, the"},{"speaker":"Nick Lincoln","startTime":4529.5599999999995,"endTime":4532.68,"body":"key word for me is discussing it"},{"speaker":"Nick Lincoln","startTime":4529.5599999999995,"endTime":4532.68,"body":"with my current firm and my"},{"speaker":"Nick Lincoln","startTime":4532.68,"endTime":4536.16,"body":"client. It's the my clients bit"},{"speaker":"Nick Lincoln","startTime":4532.68,"endTime":4536.16,"body":"that's, that's who, who, who"},{"speaker":"Nick Lincoln","startTime":4536.16,"endTime":4538.76,"body":"owns the I mean, that sounds"},{"speaker":"Nick Lincoln","startTime":4536.16,"endTime":4538.76,"body":"terrible, but you know what I"},{"speaker":"Nick Lincoln","startTime":4538.76,"endTime":4541.94,"body":"mean, who owns the clients?"},{"speaker":"Nick Lincoln","startTime":4538.76,"endTime":4541.94,"body":"Typically, the clients belong to"},{"speaker":"Nick Lincoln","startTime":4541.94,"endTime":4545.0,"body":"the firm. It depends on the"},{"speaker":"Nick Lincoln","startTime":4541.94,"endTime":4545.0,"body":"contract. Depends on the"},{"speaker":"Nick Lincoln","startTime":4545.0,"endTime":4547.16,"body":"contract likely to see their"},{"speaker":"Nick Lincoln","startTime":4545.0,"endTime":4547.16,"body":"clients,"},{"speaker":"Carl Widger","startTime":4547.7,"endTime":4550.04,"body":"guys, I go back to"},{"speaker":"Carl Widger","startTime":4547.7,"endTime":4550.04,"body":"what Alan said, right, never"},{"speaker":"Carl Widger","startTime":4550.04,"endTime":4553.16,"body":"mind the contract. Right, just"},{"speaker":"Carl Widger","startTime":4550.04,"endTime":4553.16,"body":"be open and honest. Right?"},{"speaker":"Carl Widger","startTime":4553.4,"endTime":4557.92,"body":"People who have where we have"},{"speaker":"Carl Widger","startTime":4553.4,"endTime":4557.92,"body":"definite net inflows in terms of"},{"speaker":"Carl Widger","startTime":4557.92,"endTime":4561.04,"body":"employees to our team, right?"},{"speaker":"Carl Widger","startTime":4557.92,"endTime":4561.04,"body":"But, of course, there have been"},{"speaker":"Carl Widger","startTime":4561.04,"endTime":4563.98,"body":"times when people have left, and"},{"speaker":"Carl Widger","startTime":4561.04,"endTime":4563.98,"body":"the people I still get on with"},{"speaker":"Carl Widger","startTime":4563.98,"endTime":4566.98,"body":"are the people who I have had"},{"speaker":"Carl Widger","startTime":4563.98,"endTime":4566.98,"body":"open and honest discussions"},{"speaker":"Carl Widger","startTime":4566.98,"endTime":4571.48,"body":"with. And I was way back. You"},{"speaker":"Carl Widger","startTime":4566.98,"endTime":4571.48,"body":"know, the guy who went in said,"},{"speaker":"Carl Widger","startTime":4571.48,"endTime":4575.62,"body":"Oh, I'm gonna leave, and I was"},{"speaker":"Carl Widger","startTime":4571.48,"endTime":4575.62,"body":"treated terribly. So way back,"},{"speaker":"Carl Widger","startTime":4575.62,"endTime":4580.74,"body":"yeah. It was way back, and it"},{"speaker":"Carl Widger","startTime":4575.62,"endTime":4580.74,"body":"was, it was his poor and I don't"},{"speaker":"Carl Widger","startTime":4580.74,"endTime":4584.34,"body":"ever want anyone to feel like"},{"speaker":"Carl Widger","startTime":4580.74,"endTime":4584.34,"body":"that. Sure, having said that,"},{"speaker":"Carl Widger","startTime":4585.0,"endTime":4590.64,"body":"you know, are there a couple of"},{"speaker":"Carl Widger","startTime":4585.0,"endTime":4590.64,"body":"cases where, you know, there"},{"speaker":"Carl Widger","startTime":4590.64,"endTime":4594.0,"body":"have been kind of semi Fallens"},{"speaker":"Carl Widger","startTime":4590.64,"endTime":4594.0,"body":"out yet there have, but I would"},{"speaker":"Carl Widger","startTime":4594.0,"endTime":4598.22,"body":"say it was due to lack of"},{"speaker":"Carl Widger","startTime":4594.0,"endTime":4598.22,"body":"honesty. So there you go. Okay,"},{"speaker":"Carl Widger","startTime":4598.22,"endTime":4598.34,"body":"the"},{"speaker":"Alan Smith","startTime":4598.34,"endTime":4600.38,"body":"truth will set you"},{"speaker":"Alan Smith","startTime":4598.34,"endTime":4600.38,"body":"free. The truth will"},{"speaker":"Unknown","startTime":4600.38,"endTime":4603.8,"body":"set you for exactly."},{"speaker":"Unknown","startTime":4600.38,"endTime":4603.8,"body":"Business out there for us all,"},{"speaker":"Unknown","startTime":4603.8,"endTime":4604.76,"body":"we are 75"},{"speaker":"Nick Lincoln","startTime":4605.12,"endTime":4607.16,"body":"minutes in. So do"},{"speaker":"Nick Lincoln","startTime":4605.12,"endTime":4607.16,"body":"we want to do another question?"},{"speaker":"Nick Lincoln","startTime":4607.16,"endTime":4610.76,"body":"So we hold it over to the next"},{"speaker":"Nick Lincoln","startTime":4607.16,"endTime":4610.76,"body":"Yeah, do one more. Okay?"},{"speaker":"Nick Lincoln","startTime":4610.76,"endTime":4614.66,"body":"Christine Dean Brooks, who's"},{"speaker":"Nick Lincoln","startTime":4610.76,"endTime":4614.66,"body":"given us his LinkedIn profile as"},{"speaker":"Nick Lincoln","startTime":4614.66,"endTime":4617.14,"body":"well, so that will be in the so"},{"speaker":"Nick Lincoln","startTime":4614.66,"endTime":4617.14,"body":"called show notes. Great show"},{"speaker":"Nick Lincoln","startTime":4617.14,"endTime":4618.5199999999995,"body":"guys, can you read out as"},{"speaker":"Nick Lincoln","startTime":4617.14,"endTime":4618.5199999999995,"body":"LinkedIn?"},{"speaker":"Unknown","startTime":4618.5199999999995,"endTime":4619.3,"body":"To handle? Nick,"},{"speaker":"Nick Lincoln","startTime":4620.44,"endTime":4628.42,"body":"yes, http, colon,"},{"speaker":"Nick Lincoln","startTime":4620.44,"endTime":4628.42,"body":"slash, slash, linkedin.com/i, N,"},{"speaker":"Nick Lincoln","startTime":4628.42,"endTime":4635.5,"body":"slash, D, E, A, N, hyphen, b, r,"},{"speaker":"Nick Lincoln","startTime":4628.42,"endTime":4635.5,"body":"O, OK. S, hash, sorry. Hyphen,"},{"speaker":"Nick Lincoln","startTime":4635.5,"endTime":4636.9,"body":"49373011, 3730116,"},{"speaker":"Alan Smith","startTime":4639.54,"endTime":4642.0599999999995,"body":"do you want that"},{"speaker":"Alan Smith","startTime":4639.54,"endTime":4642.0599999999995,"body":"again? That question? Okay, good"},{"speaker":"Alan Smith","startTime":4642.0599999999995,"endTime":4642.84,"body":"question. Dean,"},{"speaker":"Nick Lincoln","startTime":4642.84,"endTime":4644.64,"body":"thank you, and"},{"speaker":"Nick Lincoln","startTime":4642.84,"endTime":4644.64,"body":"thank you for postman, right?"},{"speaker":"Nick Lincoln","startTime":4644.64,"endTime":4647.22,"body":"Let's move on to the next. Dean,"},{"speaker":"Nick Lincoln","startTime":4644.64,"endTime":4647.22,"body":"write your question. Great show,"},{"speaker":"Nick Lincoln","startTime":4647.22,"endTime":4650.0999999999995,"body":"guys. I'm three and a bit years"},{"speaker":"Nick Lincoln","startTime":4647.22,"endTime":4650.0999999999995,"body":"into this industry, profession,"},{"speaker":"Nick Lincoln","startTime":4650.16,"endTime":4653.28,"body":"Dean, profession, and after a"},{"speaker":"Nick Lincoln","startTime":4650.16,"endTime":4653.28,"body":"number of years in the motor"},{"speaker":"Nick Lincoln","startTime":4653.28,"endTime":4655.5,"body":"trade, Oh, you made a real"},{"speaker":"Nick Lincoln","startTime":4653.28,"endTime":4655.5,"body":"switch. Okay, I've started"},{"speaker":"Nick Lincoln","startTime":4655.5,"endTime":4658.08,"body":"listening from episode one a"},{"speaker":"Nick Lincoln","startTime":4655.5,"endTime":4658.08,"body":"couple of weeks ago, and just"},{"speaker":"Nick Lincoln","startTime":4658.08,"endTime":4660.44,"body":"listened to Episode Four."},{"speaker":"Nick Lincoln","startTime":4658.08,"endTime":4660.44,"body":"Episode 14. You talk about the"},{"speaker":"Nick Lincoln","startTime":4660.44,"endTime":4664.04,"body":"4% rule for safe withdrawal"},{"speaker":"Nick Lincoln","startTime":4660.44,"endTime":4664.04,"body":"rate. And Andy, you mentioned"},{"speaker":"Nick Lincoln","startTime":4664.04,"endTime":4666.98,"body":"multiplying the desired monthly"},{"speaker":"Nick Lincoln","startTime":4664.04,"endTime":4666.98,"body":"income by 300 as a rule of"},{"speaker":"Nick Lincoln","startTime":4666.98,"endTime":4671.5999999999995,"body":"thumb. Just keen to dig a little"},{"speaker":"Nick Lincoln","startTime":4666.98,"endTime":4671.5999999999995,"body":"further into things like assumed"},{"speaker":"Nick Lincoln","startTime":4671.5999999999995,"endTime":4675.2,"body":"growth rates, are you preserving"},{"speaker":"Nick Lincoln","startTime":4671.5999999999995,"endTime":4675.2,"body":"capital during withdrawal, or is"},{"speaker":"Nick Lincoln","startTime":4675.2,"endTime":4678.46,"body":"it a plan for the client to run"},{"speaker":"Nick Lincoln","startTime":4675.2,"endTime":4678.46,"body":"out of money age 100 interested"},{"speaker":"Nick Lincoln","startTime":4678.46,"endTime":4681.22,"body":"to hear a little more on this,"},{"speaker":"Nick Lincoln","startTime":4678.46,"endTime":4681.22,"body":"and look forward to getting the"},{"speaker":"Nick Lincoln","startTime":4681.22,"endTime":4683.86,"body":"answer to my question in a few"},{"speaker":"Nick Lincoln","startTime":4681.22,"endTime":4683.86,"body":"weeks time when I'm all caught"},{"speaker":"Nick Lincoln","startTime":4684.46,"endTime":4687.22,"body":"up. That was what do you Yeah,"},{"speaker":"Nick Lincoln","startTime":4684.46,"endTime":4687.22,"body":"okay, that's 46 episodes ago."},{"speaker":"Nick Lincoln","startTime":4687.22,"endTime":4690.04,"body":"Keep up the great work, and"},{"speaker":"Nick Lincoln","startTime":4687.22,"endTime":4690.04,"body":"thanks in advance. Andrew,"},{"speaker":"Andy Hart","startTime":4691.18,"endTime":4694.66,"body":"okay. Abraham."},{"speaker":"Andy Hart","startTime":4691.18,"endTime":4694.66,"body":"Abraham akinson, yo. Good friend"},{"speaker":"Andy Hart","startTime":4694.66,"endTime":4697.74,"body":"of the show, good friend of us."},{"speaker":"Andy Hart","startTime":4694.66,"endTime":4697.74,"body":"Has written a book about this"},{"speaker":"Andy Hart","startTime":4697.74,"endTime":4701.4,"body":"called Beyond 4% of our hours."},{"speaker":"Andy Hart","startTime":4697.74,"endTime":4701.4,"body":"Good friend of ours, sorry, he's"},{"speaker":"Andy Hart","startTime":4701.4,"endTime":4704.58,"body":"written a book called beyond the"},{"speaker":"Andy Hart","startTime":4701.4,"endTime":4704.58,"body":"4% rule. But just to give you a"},{"speaker":"Andy Hart","startTime":4704.58,"endTime":4709.0199999999995,"body":"very high level over this, this"},{"speaker":"Andy Hart","startTime":4704.58,"endTime":4709.0199999999995,"body":"is just you back calculate the"},{"speaker":"Andy Hart","startTime":4709.0199999999995,"endTime":4712.0199999999995,"body":"4% rule. So if you sit down with"},{"speaker":"Andy Hart","startTime":4709.0199999999995,"endTime":4712.0199999999995,"body":"a client and they say, I want to"},{"speaker":"Andy Hart","startTime":4712.0199999999995,"endTime":4715.08,"body":"spend 1000 pounds a month for"},{"speaker":"Andy Hart","startTime":4712.0199999999995,"endTime":4715.08,"body":"the rest of my life and never"},{"speaker":"Andy Hart","startTime":4715.08,"endTime":4718.04,"body":"run out of money back of a fag"},{"speaker":"Andy Hart","startTime":4715.08,"endTime":4718.04,"body":"packet. You times the amount"},{"speaker":"Andy Hart","startTime":4718.04,"endTime":4721.82,"body":"that I want to spend per month"},{"speaker":"Andy Hart","startTime":4718.04,"endTime":4721.82,"body":"by 300 it's back calculating the"},{"speaker":"Andy Hart","startTime":4721.82,"endTime":4725.9,"body":"4% rule. So 1000 pounds a month,"},{"speaker":"Andy Hart","startTime":4721.82,"endTime":4725.9,"body":"time 300 300,000 that's their"},{"speaker":"Andy Hart","startTime":4725.9,"endTime":4728.84,"body":"number. If you were to be a"},{"speaker":"Andy Hart","startTime":4725.9,"endTime":4728.84,"body":"little bit more cautious and you"},{"speaker":"Andy Hart","startTime":4728.84,"endTime":4731.3,"body":"wanted to withdraw only three"},{"speaker":"Andy Hart","startTime":4728.84,"endTime":4731.3,"body":"and a half percent from your"},{"speaker":"Andy Hart","startTime":4731.3,"endTime":4736.22,"body":"portfolio, you times it by 350"},{"speaker":"Andy Hart","startTime":4731.3,"endTime":4736.22,"body":"pounds a month. It's very broad"},{"speaker":"Andy Hart","startTime":4736.22,"endTime":4738.58,"body":"brush. You know, if you just"},{"speaker":"Andy Hart","startTime":4736.22,"endTime":4738.58,"body":"sit, sit down with someone and"},{"speaker":"Andy Hart","startTime":4738.58,"endTime":4741.04,"body":"they say, I want to spend five"},{"speaker":"Andy Hart","startTime":4738.58,"endTime":4741.04,"body":"grand a month the rest of my"},{"speaker":"Andy Hart","startTime":4741.04,"endTime":4743.92,"body":"life, your times are by 301"},{"speaker":"Andy Hart","startTime":4741.04,"endTime":4743.92,"body":"point 5 million. If they've got"},{"speaker":"Andy Hart","startTime":4743.92,"endTime":4746.74,"body":"3 million quid already invested,"},{"speaker":"Andy Hart","startTime":4743.92,"endTime":4746.74,"body":"you say you're sort of going to"},{"speaker":"Andy Hart","startTime":4746.74,"endTime":4749.08,"body":"be okay. Obviously, we still"},{"speaker":"Andy Hart","startTime":4746.74,"endTime":4749.08,"body":"need to crunch the numbers. If"},{"speaker":"Andy Hart","startTime":4749.08,"endTime":4751.48,"body":"you sit down with someone in"},{"speaker":"Andy Hart","startTime":4749.08,"endTime":4751.48,"body":"that situation that wants to"},{"speaker":"Andy Hart","startTime":4751.48,"endTime":4753.7,"body":"spend five grand a month the"},{"speaker":"Andy Hart","startTime":4751.48,"endTime":4753.7,"body":"rest of their life, they need"},{"speaker":"Andy Hart","startTime":4753.7,"endTime":4756.88,"body":"1.5 million, and they got 300"},{"speaker":"Andy Hart","startTime":4753.7,"endTime":4756.88,"body":"grand saved. There's a big gap."},{"speaker":"Andy Hart","startTime":4756.88,"endTime":4760.38,"body":"So it's very broad brush. The 4%"},{"speaker":"Andy Hart","startTime":4756.88,"endTime":4760.38,"body":"rule can be argued all day. It"},{"speaker":"Andy Hart","startTime":4760.38,"endTime":4764.04,"body":"is a rule of thumb. It's a"},{"speaker":"Andy Hart","startTime":4760.38,"endTime":4764.04,"body":"starting point. That's it. So"},{"speaker":"Andy Hart","startTime":4764.04,"endTime":4766.98,"body":"just times it by 300 to get"},{"speaker":"Andy Hart","startTime":4764.04,"endTime":4766.98,"body":"their number, work out what"},{"speaker":"Andy Hart","startTime":4766.98,"endTime":4770.0999999999995,"body":"their gap is or not. It's a"},{"speaker":"Andy Hart","startTime":4766.98,"endTime":4770.0999999999995,"body":"general financial planning"},{"speaker":"Andy Hart","startTime":4770.0999999999995,"endTime":4771.78,"body":"concept. Over to you. Nicholas,"},{"speaker":"Andy Hart","startTime":4770.0999999999995,"endTime":4771.78,"body":"yes,"},{"speaker":"Nick Lincoln","startTime":4772.139,"endTime":4774.119,"body":"the second podcast"},{"speaker":"Nick Lincoln","startTime":4772.139,"endTime":4774.119,"body":"was very good as well and"},{"speaker":"Nick Lincoln","startTime":4774.119,"endTime":4776.519,"body":"interesting. Are you keen on"},{"speaker":"Nick Lincoln","startTime":4774.119,"endTime":4776.519,"body":"preserving capital during the"},{"speaker":"Nick Lincoln","startTime":4776.519,"endTime":4779.099,"body":"withdrawal, or is it planned for"},{"speaker":"Nick Lincoln","startTime":4776.519,"endTime":4779.099,"body":"the client to run out of money?"},{"speaker":"Nick Lincoln","startTime":4779.099,"endTime":4781.699,"body":"Run out of money? Age 100 well,"},{"speaker":"Nick Lincoln","startTime":4779.099,"endTime":4781.699,"body":"it already depends on the client"},{"speaker":"Nick Lincoln","startTime":4781.699,"endTime":4783.799,"body":"circumstances that I mean,"},{"speaker":"Nick Lincoln","startTime":4781.699,"endTime":4783.799,"body":"they're the base thing is, okay,"},{"speaker":"Nick Lincoln","startTime":4783.799,"endTime":4786.079,"body":"we want to make sure you've got"},{"speaker":"Nick Lincoln","startTime":4783.799,"endTime":4786.079,"body":"enough, whatever that means,"},{"speaker":"Nick Lincoln","startTime":4786.079,"endTime":4788.3589999999995,"body":"based on the whole range of"},{"speaker":"Nick Lincoln","startTime":4786.079,"endTime":4788.3589999999995,"body":"assumptions. And if that means"},{"speaker":"Nick Lincoln","startTime":4788.3589999999995,"endTime":4790.579,"body":"you're running having, you know,"},{"speaker":"Nick Lincoln","startTime":4788.3589999999995,"endTime":4790.579,"body":"one pound F in your pension"},{"speaker":"Nick Lincoln","startTime":4790.579,"endTime":4793.219,"body":"part, age 100 Well, that's still"},{"speaker":"Nick Lincoln","startTime":4790.579,"endTime":4793.219,"body":"done the job. But most clients"},{"speaker":"Nick Lincoln","startTime":4793.219,"endTime":4795.799,"body":"want to leave a legacy of"},{"speaker":"Nick Lincoln","startTime":4793.219,"endTime":4795.799,"body":"significance as well to those"},{"speaker":"Nick Lincoln","startTime":4795.799,"endTime":4799.479,"body":"they leave behind. So it's"},{"speaker":"Nick Lincoln","startTime":4795.799,"endTime":4799.479,"body":"always a case by case basis,"},{"speaker":"Nick Lincoln","startTime":4799.479,"endTime":4802.659,"body":"but, but the baseline, the"},{"speaker":"Nick Lincoln","startTime":4799.479,"endTime":4802.659,"body":"bottom baseline, is, have you do"},{"speaker":"Nick Lincoln","startTime":4802.659,"endTime":4805.7789999999995,"body":"we think you're doing the things"},{"speaker":"Nick Lincoln","startTime":4802.659,"endTime":4805.7789999999995,"body":"now so that your later self will"},{"speaker":"Nick Lincoln","startTime":4805.7789999999995,"endTime":4808.599,"body":"reasonably have enough to live"},{"speaker":"Nick Lincoln","startTime":4805.7789999999995,"endTime":4808.599,"body":"three to four decade retirement,"},{"speaker":"Nick Lincoln","startTime":4808.599,"endTime":4811.839,"body":"where the cost of your living is"},{"speaker":"Nick Lincoln","startTime":4808.599,"endTime":4811.839,"body":"going to quadruple at trendline,"},{"speaker":"Nick Lincoln","startTime":4811.839,"endTime":4815.199,"body":"UK Irish inflation. If we're"},{"speaker":"Nick Lincoln","startTime":4811.839,"endTime":4815.199,"body":"building these pots up and it's"},{"speaker":"Nick Lincoln","startTime":4815.199,"endTime":4817.539,"body":"clear you're gonna have loads"},{"speaker":"Nick Lincoln","startTime":4815.199,"endTime":4817.539,"body":"more, then we can start talking"},{"speaker":"Nick Lincoln","startTime":4817.539,"endTime":4820.079,"body":"about legacy and giving away and"},{"speaker":"Nick Lincoln","startTime":4817.539,"endTime":4820.079,"body":"giving away and so forth. But"},{"speaker":"Nick Lincoln","startTime":4820.079,"endTime":4822.239,"body":"the base plan is, yeah, let's"},{"speaker":"Nick Lincoln","startTime":4820.079,"endTime":4822.239,"body":"get you there first of all, and"},{"speaker":"Nick Lincoln","startTime":4822.239,"endTime":4824.579,"body":"then we can look at what you"},{"speaker":"Nick Lincoln","startTime":4822.239,"endTime":4824.579,"body":"want to leave behind. And if I"},{"speaker":"Nick Lincoln","startTime":4824.579,"endTime":4824.759,"body":"had"},{"speaker":"Alan Smith","startTime":4824.76,"endTime":4829.32,"body":"two quick things,"},{"speaker":"Alan Smith","startTime":4824.76,"endTime":4829.32,"body":"the that's another thing"},{"speaker":"Alan Smith","startTime":4829.32,"endTime":4833.76,"body":"repeated time time again. It's"},{"speaker":"Alan Smith","startTime":4829.32,"endTime":4833.76,"body":"an art more than a science,"},{"speaker":"Alan Smith","startTime":4833.76,"endTime":4837.08,"body":"actually, as at least as well as"},{"speaker":"Alan Smith","startTime":4833.76,"endTime":4837.08,"body":"and therefore it is, as nature"},{"speaker":"Alan Smith","startTime":4837.08,"endTime":4842.3,"body":"said, is determined by the"},{"speaker":"Alan Smith","startTime":4837.08,"endTime":4842.3,"body":"client now to assume that people"},{"speaker":"Alan Smith","startTime":4842.3,"endTime":4845.0599999999995,"body":"will spend the same amount of"},{"speaker":"Alan Smith","startTime":4842.3,"endTime":4845.0599999999995,"body":"money in real terms or otherwise"},{"speaker":"Alan Smith","startTime":4845.0599999999995,"endTime":4847.58,"body":"every year. Every assumption"},{"speaker":"Alan Smith","startTime":4845.0599999999995,"endTime":4847.58,"body":"could be argued. We know that"},{"speaker":"Alan Smith","startTime":4847.58,"endTime":4849.92,"body":"every assumption now, the only"},{"speaker":"Alan Smith","startTime":4847.58,"endTime":4849.92,"body":"that, so that's that's it. So"},{"speaker":"Alan Smith","startTime":4849.92,"endTime":4855.14,"body":"start with asking incredibly"},{"speaker":"Alan Smith","startTime":4849.92,"endTime":4855.14,"body":"good, detailed questions of your"},{"speaker":"Alan Smith","startTime":4855.14,"endTime":4858.82,"body":"client terms of what they want,"},{"speaker":"Alan Smith","startTime":4855.14,"endTime":4858.82,"body":"lifestyle, just, you know,"},{"speaker":"Alan Smith","startTime":4859.24,"endTime":4862.24,"body":"design your ideal life, and then"},{"speaker":"Alan Smith","startTime":4859.24,"endTime":4862.24,"body":"we can put some numbers on it."},{"speaker":"Alan Smith","startTime":4862.78,"endTime":4865.84,"body":"We're making the guess for how"},{"speaker":"Alan Smith","startTime":4862.78,"endTime":4865.84,"body":"long you live. But is legacy"},{"speaker":"Alan Smith","startTime":4865.84,"endTime":4868.18,"body":"important? Is it not is"},{"speaker":"Alan Smith","startTime":4865.84,"endTime":4868.18,"body":"philanthropy, all those other"},{"speaker":"Alan Smith","startTime":4868.18,"endTime":4870.76,"body":"things? So it starts by really"},{"speaker":"Alan Smith","startTime":4868.18,"endTime":4870.76,"body":"knowing the client and not it"},{"speaker":"Alan Smith","startTime":4870.76,"endTime":4873.22,"body":"sounds. The danger in this is"},{"speaker":"Alan Smith","startTime":4870.76,"endTime":4873.22,"body":"making it templated. I'm going"},{"speaker":"Alan Smith","startTime":4873.22,"endTime":4875.74,"body":"to run it such that the client"},{"speaker":"Alan Smith","startTime":4873.22,"endTime":4875.74,"body":"runs out of money age, 100"},{"speaker":"Alan Smith","startTime":4876.12,"endTime":4878.64,"body":"Right, and that is just wrong."},{"speaker":"Alan Smith","startTime":4876.12,"endTime":4878.64,"body":"One other thing, and I think"},{"speaker":"Alan Smith","startTime":4878.64,"endTime":4881.5199999999995,"body":"maybe we'll come back to this in"},{"speaker":"Alan Smith","startTime":4878.64,"endTime":4881.5199999999995,"body":"the new year, just reminded me"},{"speaker":"Alan Smith","startTime":4881.5199999999995,"endTime":4886.2,"body":"of a conversation I had with a"},{"speaker":"Alan Smith","startTime":4881.5199999999995,"endTime":4886.2,"body":"colleague the other day. Now,"},{"speaker":"Alan Smith","startTime":4886.2,"endTime":4889.38,"body":"like you guys, we use"},{"speaker":"Alan Smith","startTime":4886.2,"endTime":4889.38,"body":"effectively linear cash flow"},{"speaker":"Alan Smith","startTime":4889.38,"endTime":4894.0,"body":"forecast. You use voyant we use"},{"speaker":"Alan Smith","startTime":4889.38,"endTime":4894.0,"body":"truth. And this particular"},{"speaker":"Alan Smith","startTime":4894.0,"endTime":4897.14,"body":"client circumstances. There it"},{"speaker":"Alan Smith","startTime":4894.0,"endTime":4897.14,"body":"was the classic. You've got way"},{"speaker":"Alan Smith","startTime":4897.2,"endTime":4899.5999999999995,"body":"more than enough money you need."},{"speaker":"Alan Smith","startTime":4897.2,"endTime":4899.5999999999995,"body":"You're never going to run out of"},{"speaker":"Alan Smith","startTime":4899.5999999999995,"endTime":4902.24,"body":"money. Happy days. Go, go fill"},{"speaker":"Alan Smith","startTime":4899.5999999999995,"endTime":4902.24,"body":"your books. Go on holidays,"},{"speaker":"Alan Smith","startTime":4902.24,"endTime":4906.2,"body":"spend your money, enjoy"},{"speaker":"Alan Smith","startTime":4902.24,"endTime":4906.2,"body":"yourself. And then we cross"},{"speaker":"Alan Smith","startTime":4906.2,"endTime":4910.64,"body":"referenced it with timeline cash"},{"speaker":"Alan Smith","startTime":4906.2,"endTime":4910.64,"body":"flow model, which uses Monte"},{"speaker":"Alan Smith","startTime":4910.64,"endTime":4913.76,"body":"Carlo scenario planning, which"},{"speaker":"Alan Smith","startTime":4910.64,"endTime":4913.76,"body":"is all the various multiples of"},{"speaker":"Alan Smith","startTime":4914.84,"endTime":4917.2,"body":"numerous things that could"},{"speaker":"Alan Smith","startTime":4914.84,"endTime":4917.2,"body":"happen in terms of sequence,"},{"speaker":"Alan Smith","startTime":4917.2,"endTime":4920.62,"body":"risk and everything else, using"},{"speaker":"Alan Smith","startTime":4917.2,"endTime":4920.62,"body":"120 years of data, all of a"},{"speaker":"Alan Smith","startTime":4920.62,"endTime":4924.82,"body":"sudden, wasn't quite so rosy."},{"speaker":"Alan Smith","startTime":4920.62,"endTime":4924.82,"body":"There was now a 78% chance of"},{"speaker":"Alan Smith","startTime":4924.82,"endTime":4927.82,"body":"you achieving all these and not"},{"speaker":"Alan Smith","startTime":4924.82,"endTime":4927.82,"body":"running out of money. Now you"},{"speaker":"Alan Smith","startTime":4927.82,"endTime":4929.92,"body":"can get all that does is it"},{"speaker":"Alan Smith","startTime":4927.82,"endTime":4929.92,"body":"throws up. There's a big"},{"speaker":"Alan Smith","startTime":4929.92,"endTime":4932.68,"body":"difference between just spend"},{"speaker":"Alan Smith","startTime":4929.92,"endTime":4932.68,"body":"your money and never worry about"},{"speaker":"Alan Smith","startTime":4932.68,"endTime":4935.0199999999995,"body":"it, too. You might just need to"},{"speaker":"Alan Smith","startTime":4932.68,"endTime":4935.0199999999995,"body":"pay a bit more attention to"},{"speaker":"Alan Smith","startTime":4935.0199999999995,"endTime":4937.68,"body":"this, because if we have any"},{"speaker":"Alan Smith","startTime":4935.0199999999995,"endTime":4937.68,"body":"repeat of any repeat of any some"},{"speaker":"Alan Smith","startTime":4937.68,"endTime":4941.76,"body":"circumstances that happened the"},{"speaker":"Alan Smith","startTime":4937.68,"endTime":4941.76,"body":"last 100 years. And I get, I get"},{"speaker":"Alan Smith","startTime":4941.76,"endTime":4944.82,"body":"the point. You can be overly"},{"speaker":"Alan Smith","startTime":4941.76,"endTime":4944.82,"body":"analytical, because who the hell"},{"speaker":"Alan Smith","startTime":4944.82,"endTime":4949.5599999999995,"body":"knows. But just be clear that"},{"speaker":"Alan Smith","startTime":4944.82,"endTime":4949.5599999999995,"body":"these long term linear cash flow"},{"speaker":"Alan Smith","startTime":4949.5599999999995,"endTime":4952.98,"body":"models are just a starting point"},{"speaker":"Alan Smith","startTime":4949.5599999999995,"endTime":4952.98,"body":"as well. Do not rely on them as"},{"speaker":"Alan Smith","startTime":4952.98,"endTime":4956.5999999999995,"body":"a be all and end all for"},{"speaker":"Alan Smith","startTime":4952.98,"endTime":4956.5999999999995,"body":"spending money, saving more"},{"speaker":"Alan Smith","startTime":4956.5999999999995,"endTime":4960.68,"body":"money. It's this stuff is suit"},{"speaker":"Alan Smith","startTime":4956.5999999999995,"endTime":4960.68,"body":"is really, really important, and"},{"speaker":"Alan Smith","startTime":4960.68,"endTime":4964.34,"body":"maybe using more than one type"},{"speaker":"Alan Smith","startTime":4960.68,"endTime":4964.34,"body":"of methodology, in terms of"},{"speaker":"Alan Smith","startTime":4964.34,"endTime":4967.5199999999995,"body":"straightforward, linear cash"},{"speaker":"Alan Smith","startTime":4964.34,"endTime":4967.5199999999995,"body":"flow, assuming 2% real rate of"},{"speaker":"Alan Smith","startTime":4967.5199999999995,"endTime":4968.84,"body":"return. Thank you. Okay,"},{"speaker":"Nick Lincoln","startTime":4968.84,"endTime":4970.46,"body":"brilliant. Just"},{"speaker":"Nick Lincoln","startTime":4968.84,"endTime":4970.46,"body":"real quickly. For those"},{"speaker":"Nick Lincoln","startTime":4970.46,"endTime":4973.0999999999995,"body":"listening to this not watching,"},{"speaker":"Nick Lincoln","startTime":4970.46,"endTime":4973.0999999999995,"body":"Andrew held up his Bible, which"},{"speaker":"Nick Lincoln","startTime":4973.0999999999995,"endTime":4975.98,"body":"he cleaves to and is part of his"},{"speaker":"Nick Lincoln","startTime":4973.0999999999995,"endTime":4975.98,"body":"life hack. It's called die with"},{"speaker":"Nick Lincoln","startTime":4975.98,"endTime":4979.3,"body":"zero friends, and it's a Bible"},{"speaker":"Nick Lincoln","startTime":4975.98,"endTime":4979.3,"body":"that he's been pleading to very,"},{"speaker":"Nick Lincoln","startTime":4979.3,"endTime":4980.32,"body":"very strongly. Once"},{"speaker":"Andy Hart","startTime":4980.3189999999995,"endTime":4982.479,"body":"I've read the book,"},{"speaker":"Andy Hart","startTime":4980.3189999999995,"endTime":4982.479,"body":"once I've read the book, I'll"},{"speaker":"Andy Hart","startTime":4982.479,"endTime":4985.599,"body":"provide a full and detailed"},{"speaker":"Andy Hart","startTime":4982.479,"endTime":4985.599,"body":"review on a future trap episode."},{"speaker":"Andy Hart","startTime":4985.659,"endTime":4986.799,"body":"Have any boys read"},{"speaker":"Unknown","startTime":4986.8,"endTime":4989.92,"body":"this book? By the way?"},{"speaker":"Unknown","startTime":4986.8,"endTime":4989.92,"body":"No, no. Okay,"},{"speaker":"Unknown","startTime":4990.759,"endTime":4992.559,"body":"okay, right, living with 00."},{"speaker":"Nick Lincoln","startTime":4996.88,"endTime":5000.44,"body":"Bless you. Bless"},{"speaker":"Nick Lincoln","startTime":4996.88,"endTime":5000.44,"body":"you. Okay, let's, let's move on."},{"speaker":"Nick Lincoln","startTime":5000.44,"endTime":5002.78,"body":"Then we must do culture corner."},{"speaker":"Nick Lincoln","startTime":5000.44,"endTime":5002.78,"body":"We're getting towards the end"},{"speaker":"Nick Lincoln","startTime":5002.78,"endTime":5009.08,"body":"one minute 81, minutes in, let's"},{"speaker":"Nick Lincoln","startTime":5002.78,"endTime":5009.08,"body":"do culture corner. Okay, I'll go"},{"speaker":"Nick Lincoln","startTime":5009.08,"endTime":5011.5999999999995,"body":"first kind of tease on from what"},{"speaker":"Nick Lincoln","startTime":5009.08,"endTime":5011.5999999999995,"body":"I said about maybe the rolling"},{"speaker":"Nick Lincoln","startTime":5011.5999999999995,"endTime":5014.24,"body":"back, the rolling back of the"},{"speaker":"Nick Lincoln","startTime":5011.5999999999995,"endTime":5014.24,"body":"last 1520, years of sort of a"},{"speaker":"Nick Lincoln","startTime":5015.08,"endTime":5018.64,"body":"just oppressive states and sense"},{"speaker":"Nick Lincoln","startTime":5015.08,"endTime":5018.64,"body":"of, I don't know, the government"},{"speaker":"Nick Lincoln","startTime":5018.64,"endTime":5021.94,"body":"getting too big. My book of the"},{"speaker":"Nick Lincoln","startTime":5018.64,"endTime":5021.94,"body":"year is, sorry, coach, call it"},{"speaker":"Nick Lincoln","startTime":5021.94,"endTime":5024.82,"body":"for this episode Trappist. We're"},{"speaker":"Nick Lincoln","startTime":5021.94,"endTime":5024.82,"body":"looking at our favorite cultural"},{"speaker":"Nick Lincoln","startTime":5024.82,"endTime":5027.22,"body":"things that we've consumed in"},{"speaker":"Nick Lincoln","startTime":5024.82,"endTime":5027.22,"body":"the last year. Mine's the white"},{"speaker":"Nick Lincoln","startTime":5027.22,"endTime":5030.46,"body":"pill, a tale of Good and Evil by"},{"speaker":"Nick Lincoln","startTime":5027.22,"endTime":5030.46,"body":"Michael malice. Now, on the"},{"speaker":"Nick Lincoln","startTime":5030.5199999999995,"endTime":5033.34,"body":"basis of this book, is a history"},{"speaker":"Nick Lincoln","startTime":5030.5199999999995,"endTime":5033.34,"body":"of communism, which is grim,"},{"speaker":"Nick Lincoln","startTime":5033.5199999999995,"endTime":5035.38,"body":"right? It's not taught at"},{"speaker":"Nick Lincoln","startTime":5033.5199999999995,"endTime":5035.38,"body":"schools, and if you don't know"},{"speaker":"Nick Lincoln","startTime":5035.38,"endTime":5037.92,"body":"about it, you want to get this"},{"speaker":"Nick Lincoln","startTime":5035.38,"endTime":5037.92,"body":"book and you want to get this"},{"speaker":"Nick Lincoln","startTime":5037.92,"endTime":5040.2,"body":"book and you want to read it,"},{"speaker":"Nick Lincoln","startTime":5037.92,"endTime":5040.2,"body":"but he writes it in a very"},{"speaker":"Nick Lincoln","startTime":5040.2,"endTime":5042.5999999999995,"body":"engaging way. He says how"},{"speaker":"Nick Lincoln","startTime":5040.2,"endTime":5042.5999999999995,"body":"communism was set out, what it"},{"speaker":"Nick Lincoln","startTime":5042.5999999999995,"endTime":5045.0,"body":"was supposed to do, how it"},{"speaker":"Nick Lincoln","startTime":5042.5999999999995,"endTime":5045.0,"body":"transformed in Russia, in China"},{"speaker":"Nick Lincoln","startTime":5045.0,"endTime":5047.88,"body":"and Cambodia, in Korea,"},{"speaker":"Nick Lincoln","startTime":5045.0,"endTime":5047.88,"body":"everywhere it's been. It's been,"},{"speaker":"Nick Lincoln","startTime":5047.88,"endTime":5050.64,"body":"it's just a bit. It's just"},{"speaker":"Nick Lincoln","startTime":5047.88,"endTime":5050.64,"body":"killed millions and millions and"},{"speaker":"Nick Lincoln","startTime":5050.64,"endTime":5052.98,"body":"millions of human beings. It's"},{"speaker":"Nick Lincoln","startTime":5050.64,"endTime":5052.98,"body":"really, really bad. It's a"},{"speaker":"Nick Lincoln","startTime":5052.98,"endTime":5055.32,"body":"really, really good book, and we"},{"speaker":"Nick Lincoln","startTime":5052.98,"endTime":5055.32,"body":"should be giving it to our kids"},{"speaker":"Nick Lincoln","startTime":5055.32,"endTime":5058.4,"body":"to read, because they ain't"},{"speaker":"Nick Lincoln","startTime":5055.32,"endTime":5058.4,"body":"taught about it in school. And I"},{"speaker":"Nick Lincoln","startTime":5058.4,"endTime":5061.5199999999995,"body":"would highly recommend the white"},{"speaker":"Nick Lincoln","startTime":5058.4,"endTime":5061.5199999999995,"body":"pill. It's, it's, it's more of a"},{"speaker":"Nick Lincoln","startTime":5061.5199999999995,"endTime":5064.04,"body":"cracking read, if you can, have"},{"speaker":"Nick Lincoln","startTime":5061.5199999999995,"endTime":5064.04,"body":"a cracking read about the death"},{"speaker":"Nick Lincoln","startTime":5064.04,"endTime":5067.28,"body":"of hundreds of millions of human"},{"speaker":"Nick Lincoln","startTime":5064.04,"endTime":5067.28,"body":"beings. This is the book that's"},{"speaker":"Nick Lincoln","startTime":5067.28,"endTime":5067.88,"body":"my one for 2024"},{"speaker":"Andy Hart","startTime":5071.72,"endTime":5075.44,"body":"jolly the Christmas"},{"speaker":"Andy Hart","startTime":5071.72,"endTime":5075.44,"body":"present you're going to give to"},{"speaker":"Andy Hart","startTime":5075.44,"endTime":5076.42,"body":"your son. Those who"},{"speaker":"Nick Lincoln","startTime":5076.42,"endTime":5078.28,"body":"don't know history"},{"speaker":"Nick Lincoln","startTime":5076.42,"endTime":5078.28,"body":"are doomed to repeat it, right?"},{"speaker":"Nick Lincoln","startTime":5078.28,"endTime":5081.82,"body":"We don't know. You know, we have"},{"speaker":"Nick Lincoln","startTime":5078.28,"endTime":5081.82,"body":"this, these morons in the West"},{"speaker":"Nick Lincoln","startTime":5081.82,"endTime":5085.12,"body":"who supported Stalin, these"},{"speaker":"Nick Lincoln","startTime":5081.82,"endTime":5085.12,"body":"idiots, useful idiots, and"},{"speaker":"Nick Lincoln","startTime":5085.12,"endTime":5088.54,"body":"they're back now in our in the"},{"speaker":"Nick Lincoln","startTime":5085.12,"endTime":5088.54,"body":"back now in our governments,"},{"speaker":"Nick Lincoln","startTime":5089.62,"endTime":5091.24,"body":"supporting appalling regimes."},{"speaker":"Alan Smith","startTime":5092.5,"endTime":5094.36,"body":"I know you read a"},{"speaker":"Alan Smith","startTime":5092.5,"endTime":5094.36,"body":"lot of books, or listen to or"},{"speaker":"Alan Smith","startTime":5094.36,"endTime":5096.84,"body":"read them, that that's genuinely"},{"speaker":"Alan Smith","startTime":5094.36,"endTime":5096.84,"body":"your best book of the year."},{"speaker":"Alan Smith","startTime":5097.14,"endTime":5097.38,"body":"Yeah,"},{"speaker":"Nick Lincoln","startTime":5097.38,"endTime":5098.88,"body":"just chuckles."},{"speaker":"Nick Lincoln","startTime":5097.38,"endTime":5098.88,"body":"Yeah,"},{"speaker":"Alan Smith","startTime":5101.94,"endTime":5104.82,"body":"interesting. Sounds"},{"speaker":"Alan Smith","startTime":5101.94,"endTime":5104.82,"body":"good as well. That was"},{"speaker":"Nick Lincoln","startTime":5104.82,"endTime":5108.0599999999995,"body":"excellent as well."},{"speaker":"Nick Lincoln","startTime":5104.82,"endTime":5108.0599999999995,"body":"But I just have to pick one. And"},{"speaker":"Nick Lincoln","startTime":5108.0599999999995,"endTime":5109.8,"body":"I thought, sorry, so go on."},{"speaker":"Nick Lincoln","startTime":5108.0599999999995,"endTime":5109.8,"body":"Okay,"},{"speaker":"Alan Smith","startTime":5109.92,"endTime":5112.68,"body":"yeah. I was given"},{"speaker":"Alan Smith","startTime":5109.92,"endTime":5112.68,"body":"this as a Christmas present this"},{"speaker":"Alan Smith","startTime":5112.68,"endTime":5115.62,"body":"time last year, and I read it"},{"speaker":"Alan Smith","startTime":5112.68,"endTime":5115.62,"body":"beginning of the year, and even"},{"speaker":"Alan Smith","startTime":5115.62,"endTime":5117.86,"body":"though it was the beginning of"},{"speaker":"Alan Smith","startTime":5115.62,"endTime":5117.86,"body":"the beginning of the year, it"},{"speaker":"Alan Smith","startTime":5117.86,"endTime":5119.96,"body":"remains the best book that I"},{"speaker":"Alan Smith","startTime":5117.86,"endTime":5119.96,"body":"have read, which I think we've"},{"speaker":"Alan Smith","startTime":5119.96,"endTime":5122.12,"body":"all read it, actually, or we've"},{"speaker":"Alan Smith","startTime":5119.96,"endTime":5122.12,"body":"all listened to it, which is the"},{"speaker":"Alan Smith","startTime":5122.12,"endTime":5127.16,"body":"Walter Isaacson biography of"},{"speaker":"Alan Smith","startTime":5122.12,"endTime":5127.16,"body":"Elon Musk. So interesting. Elon"},{"speaker":"Alan Smith","startTime":5127.16,"endTime":5130.28,"body":"Musk, I mention him sometimes,"},{"speaker":"Alan Smith","startTime":5127.16,"endTime":5130.28,"body":"and there's a lot of hate"},{"speaker":"Alan Smith","startTime":5130.28,"endTime":5133.88,"body":"towards Elon Musk, which is"},{"speaker":"Alan Smith","startTime":5130.28,"endTime":5133.88,"body":"quite mad. It's insane. I mean,"},{"speaker":"Alan Smith","startTime":5133.88,"endTime":5136.84,"body":"whatever you think of him as a"},{"speaker":"Alan Smith","startTime":5133.88,"endTime":5136.84,"body":"human being, Jesus Christ, the"},{"speaker":"Alan Smith","startTime":5136.84,"endTime":5139.9,"body":"stuff that he has accomplished"},{"speaker":"Alan Smith","startTime":5136.84,"endTime":5139.9,"body":"and achieved and seems capable"},{"speaker":"Alan Smith","startTime":5139.9,"endTime":5143.32,"body":"of. So it's, I think, just an"},{"speaker":"Alan Smith","startTime":5139.9,"endTime":5143.32,"body":"incredible I like biographies"},{"speaker":"Alan Smith","startTime":5143.32,"endTime":5147.16,"body":"anyway. I think you learn a lot"},{"speaker":"Alan Smith","startTime":5143.32,"endTime":5147.16,"body":"from people you know. Isaacson"},{"speaker":"Alan Smith","startTime":5147.16,"endTime":5149.86,"body":"is a really good writer. He's"},{"speaker":"Alan Smith","startTime":5147.16,"endTime":5149.86,"body":"written Steve Jobs one. He's"},{"speaker":"Alan Smith","startTime":5149.86,"endTime":5152.8,"body":"written a bunch of other sort of"},{"speaker":"Alan Smith","startTime":5149.86,"endTime":5152.8,"body":"high profile people and"},{"speaker":"Alan Smith","startTime":5152.8,"endTime":5155.38,"body":"characters. I just like his"},{"speaker":"Alan Smith","startTime":5152.8,"endTime":5155.38,"body":"writing. So Elon Musk story, his"},{"speaker":"Alan Smith","startTime":5155.38,"endTime":5157.74,"body":"personal story, growing up in"},{"speaker":"Alan Smith","startTime":5155.38,"endTime":5157.74,"body":"South Africa, all the stuff is"},{"speaker":"Alan Smith","startTime":5157.74,"endTime":5161.16,"body":"quite I was very interesting and"},{"speaker":"Alan Smith","startTime":5157.74,"endTime":5161.16,"body":"stuff, but the business lessons"},{"speaker":"Alan Smith","startTime":5161.16,"endTime":5163.5599999999995,"body":"that you learn from it, and he's"},{"speaker":"Alan Smith","startTime":5161.16,"endTime":5163.5599999999995,"body":"just like a no nonsense. He's"},{"speaker":"Alan Smith","startTime":5163.5599999999995,"endTime":5165.78,"body":"just talk about just cut,"},{"speaker":"Alan Smith","startTime":5163.5599999999995,"endTime":5165.78,"body":"getting simplifying things,"},{"speaker":"Alan Smith","startTime":5165.78,"endTime":5168.42,"body":"cutting things to the chase, the"},{"speaker":"Alan Smith","startTime":5165.78,"endTime":5168.42,"body":"story, but and how he's built"},{"speaker":"Alan Smith","startTime":5168.42,"endTime":5171.66,"body":"SpaceX and the stuff and"},{"speaker":"Alan Smith","startTime":5168.42,"endTime":5171.66,"body":"everyone, all the things he does"},{"speaker":"Alan Smith","startTime":5171.66,"endTime":5175.74,"body":"are impossible until he does"},{"speaker":"Alan Smith","startTime":5171.66,"endTime":5175.74,"body":"them. And there are lessons just"},{"speaker":"Alan Smith","startTime":5175.74,"endTime":5178.5199999999995,"body":"this. Feeling the problem down"},{"speaker":"Alan Smith","startTime":5175.74,"endTime":5178.5199999999995,"body":"to his core users, first"},{"speaker":"Alan Smith","startTime":5178.5199999999995,"endTime":5181.4,"body":"principles, thinking, what is"},{"speaker":"Alan Smith","startTime":5178.5199999999995,"endTime":5181.4,"body":"the issue? What's the problem?"},{"speaker":"Alan Smith","startTime":5181.4,"endTime":5183.74,"body":"We're trying to fix? How can we"},{"speaker":"Alan Smith","startTime":5181.4,"endTime":5183.74,"body":"just achieve that? There's too"},{"speaker":"Alan Smith","startTime":5183.74,"endTime":5187.04,"body":"much just bullshit and layers of"},{"speaker":"Alan Smith","startTime":5183.74,"endTime":5187.04,"body":"management conversations and"},{"speaker":"Alan Smith","startTime":5187.04,"endTime":5190.28,"body":"discussions, whether you like it"},{"speaker":"Alan Smith","startTime":5187.04,"endTime":5190.28,"body":"or not, him coming into x and,"},{"speaker":"Alan Smith","startTime":5190.28,"endTime":5192.98,"body":"you know, getting rid of 80% of"},{"speaker":"Alan Smith","startTime":5190.28,"endTime":5192.98,"body":"the staff, and then making it"},{"speaker":"Alan Smith","startTime":5192.98,"endTime":5197.14,"body":"even more successful than it was"},{"speaker":"Alan Smith","startTime":5192.98,"endTime":5197.14,"body":"in the past. You know, that's"},{"speaker":"Alan Smith","startTime":5197.14,"endTime":5199.48,"body":"incredible, the stuff he's"},{"speaker":"Alan Smith","startTime":5197.14,"endTime":5199.48,"body":"achieved through Tesla, etc."},{"speaker":"Alan Smith","startTime":5199.48,"endTime":5201.7,"body":"Anyway, I think it's just a"},{"speaker":"Alan Smith","startTime":5199.48,"endTime":5201.7,"body":"great book. So it's a bunch,"},{"speaker":"Alan Smith","startTime":5201.7,"endTime":5204.4,"body":"there's a lot of interesting and"},{"speaker":"Alan Smith","startTime":5201.7,"endTime":5204.4,"body":"important lessons, both life"},{"speaker":"Alan Smith","startTime":5204.4,"endTime":5207.58,"body":"lessons and lessons for business"},{"speaker":"Alan Smith","startTime":5204.4,"endTime":5207.58,"body":"as well. My favorite of the"},{"speaker":"Alan Smith","startTime":5207.58,"endTime":5210.0999999999995,"body":"year, Elon Musk, per Walter"},{"speaker":"Alan Smith","startTime":5207.58,"endTime":5210.0999999999995,"body":"Isaacson,"},{"speaker":"Nick Lincoln","startTime":5210.939,"endTime":5211.839,"body":"next off watch"},{"speaker":"Carl Widger","startTime":5212.979,"endTime":5215.979,"body":"at Tuesdays with"},{"speaker":"Carl Widger","startTime":5212.979,"endTime":5215.979,"body":"Mari, which is actually a"},{"speaker":"Carl Widger","startTime":5215.979,"endTime":5220.8589999999995,"body":"culture corner from Nick"},{"speaker":"Carl Widger","startTime":5215.979,"endTime":5220.8589999999995,"body":"Lincoln. It had a actually"},{"speaker":"Carl Widger","startTime":5220.8589999999995,"endTime":5223.979,"body":"significant impact on me, I"},{"speaker":"Carl Widger","startTime":5220.8589999999995,"endTime":5223.979,"body":"would say, and made me really"},{"speaker":"Carl Widger","startTime":5223.979,"endTime":5227.2789999999995,"body":"kind of take a step back and"},{"speaker":"Carl Widger","startTime":5223.979,"endTime":5227.2789999999995,"body":"think about actually, what's"},{"speaker":"Carl Widger","startTime":5227.2789999999995,"endTime":5231.179,"body":"important here. I think it's an"},{"speaker":"Carl Widger","startTime":5227.2789999999995,"endTime":5231.179,"body":"amazing book. I think it'd be a"},{"speaker":"Carl Widger","startTime":5231.3589999999995,"endTime":5234.3589999999995,"body":"brilliant, brilliant read for"},{"speaker":"Carl Widger","startTime":5231.3589999999995,"endTime":5234.3589999999995,"body":"anybody over the Christmas"},{"speaker":"Carl Widger","startTime":5234.3589999999995,"endTime":5238.699,"body":"period, as you kind of are"},{"speaker":"Carl Widger","startTime":5234.3589999999995,"endTime":5238.699,"body":"relaxing with your family, but"},{"speaker":"Carl Widger","startTime":5238.699,"endTime":5242.239,"body":"ready to kind of launch into"},{"speaker":"Carl Widger","startTime":5238.699,"endTime":5242.239,"body":"another year. I think it'd be"},{"speaker":"Carl Widger","startTime":5242.239,"endTime":5246.139,"body":"really, really, really good one."},{"speaker":"Carl Widger","startTime":5242.239,"endTime":5246.139,"body":"If you haven't read it already,"},{"speaker":"Carl Widger","startTime":5246.8589999999995,"endTime":5249.679,"body":"go and read it. I think it's"},{"speaker":"Carl Widger","startTime":5246.8589999999995,"endTime":5249.679,"body":"just brilliantly written. It's a"},{"speaker":"Carl Widger","startTime":5249.679,"endTime":5250.939,"body":"beautiful book, really, is,"},{"speaker":"Nick Lincoln","startTime":5251.12,"endTime":5253.58,"body":"yeah, I really"},{"speaker":"Nick Lincoln","startTime":5251.12,"endTime":5253.58,"body":"enjoyed it as well. Connie,"},{"speaker":"Nick Lincoln","startTime":5253.64,"endTime":5255.62,"body":"awesome, yeah, very good book."},{"speaker":"Nick Lincoln","startTime":5253.64,"endTime":5255.62,"body":"Yeah, an"},{"speaker":"Carl Widger","startTime":5255.62,"endTime":5258.34,"body":"honorable mention"},{"speaker":"Carl Widger","startTime":5255.62,"endTime":5258.34,"body":"for me to the psychology of"},{"speaker":"Carl Widger","startTime":5258.34,"endTime":5262.12,"body":"money, which I have only read in"},{"speaker":"Carl Widger","startTime":5258.34,"endTime":5262.12,"body":"the last couple of months, which"},{"speaker":"Carl Widger","startTime":5262.12,"endTime":5264.88,"body":"I know is bananas, right? For"},{"speaker":"Carl Widger","startTime":5262.12,"endTime":5264.88,"body":"someone involved in the"},{"speaker":"Carl Widger","startTime":5265.18,"endTime":5269.86,"body":"financial planning, investment,"},{"speaker":"Carl Widger","startTime":5265.18,"endTime":5269.86,"body":"Wealth Management, behavioral"},{"speaker":"Carl Widger","startTime":5269.86,"endTime":5272.5,"body":"finance, whatever you want to"},{"speaker":"Carl Widger","startTime":5269.86,"endTime":5272.5,"body":"call it, right? It's a must"},{"speaker":"Carl Widger","startTime":5272.5,"endTime":5278.0999999999995,"body":"read, and it's really easy read"},{"speaker":"Carl Widger","startTime":5272.5,"endTime":5278.0999999999995,"body":"and really enjoyable as well. So"},{"speaker":"Carl Widger","startTime":5278.0999999999995,"endTime":5283.0199999999995,"body":"they'd be my two that I would"},{"speaker":"Carl Widger","startTime":5278.0999999999995,"endTime":5283.0199999999995,"body":"recommend highly. But if you're"},{"speaker":"Carl Widger","startTime":5283.0199999999995,"endTime":5285.5999999999995,"body":"only going to go at one Tuesdays"},{"speaker":"Carl Widger","startTime":5283.0199999999995,"endTime":5285.5999999999995,"body":"of Maury, I think everybody"},{"speaker":"Carl Widger","startTime":5285.5999999999995,"endTime":5286.86,"body":"should read it brilliant."},{"speaker":"Andy Hart","startTime":5286.86,"endTime":5288.9,"body":"Just don't book just"},{"speaker":"Andy Hart","startTime":5286.86,"endTime":5288.9,"body":"on that car. I'm assuming you"},{"speaker":"Andy Hart","startTime":5288.9,"endTime":5291.78,"body":"haven't read the second book,"},{"speaker":"Andy Hart","startTime":5288.9,"endTime":5291.78,"body":"same as ever. Morgan Housel,"},{"speaker":"Carl Widger","startTime":5292.08,"endTime":5294.5999999999995,"body":"no, but I,"},{"speaker":"Carl Widger","startTime":5292.08,"endTime":5294.5999999999995,"body":"actually, I bought it on Audible"},{"speaker":"Carl Widger","startTime":5294.66,"endTime":5298.04,"body":"only the last week or so. Andy,"},{"speaker":"Carl Widger","startTime":5294.66,"endTime":5298.04,"body":"so it's on my it's coming up"},{"speaker":"Carl Widger","startTime":5298.0999999999995,"endTime":5298.7,"body":"soon."},{"speaker":"Andy Hart","startTime":5299.3,"endTime":5301.88,"body":"I think it's better,"},{"speaker":"Andy Hart","startTime":5299.3,"endTime":5301.88,"body":"which is a reality statement,"},{"speaker":"Andy Hart","startTime":5301.88,"endTime":5304.5199999999995,"body":"yeah, it's really, really good."},{"speaker":"Andy Hart","startTime":5301.88,"endTime":5304.5199999999995,"body":"Yeah, like the second one more"},{"speaker":"Andy Hart","startTime":5304.5199999999995,"endTime":5308.24,"body":"than the first. Okay, it's for"},{"speaker":"Andy Hart","startTime":5304.5199999999995,"endTime":5308.24,"body":"me to close up the culture"},{"speaker":"Andy Hart","startTime":5308.24,"endTime":5313.22,"body":"corner again. The book on Elon"},{"speaker":"Andy Hart","startTime":5308.24,"endTime":5313.22,"body":"Musk by walls at Walter Isaacson"},{"speaker":"Andy Hart","startTime":5313.22,"endTime":5316.5999999999995,"body":"is insanely good. That was"},{"speaker":"Andy Hart","startTime":5313.22,"endTime":5316.5999999999995,"body":"definitely up there. But my"},{"speaker":"Andy Hart","startTime":5316.66,"endTime":5320.62,"body":"book, if I had to pick one, is"},{"speaker":"Andy Hart","startTime":5316.66,"endTime":5320.62,"body":"Scott Galloway, the algebra of"},{"speaker":"Andy Hart","startTime":5320.62,"endTime":5323.8,"body":"wealth. Think it's amazing. I"},{"speaker":"Andy Hart","startTime":5320.62,"endTime":5323.8,"body":"don't think you should read"},{"speaker":"Andy Hart","startTime":5323.8,"endTime":5327.28,"body":"this. The beginning of your"},{"speaker":"Andy Hart","startTime":5323.8,"endTime":5327.28,"body":"wealth journey. Let's call it."},{"speaker":"Andy Hart","startTime":5327.64,"endTime":5330.34,"body":"You have to have made a few"},{"speaker":"Andy Hart","startTime":5327.64,"endTime":5330.34,"body":"mistakes of this book to hit you"},{"speaker":"Andy Hart","startTime":5330.34,"endTime":5334.12,"body":"between the eyes. But it's it's"},{"speaker":"Andy Hart","startTime":5330.34,"endTime":5334.12,"body":"amazing. So that's my"},{"speaker":"Andy Hart","startTime":5334.12,"endTime":5338.76,"body":"recommendation. My final thing."},{"speaker":"Andy Hart","startTime":5334.12,"endTime":5338.76,"body":"It's the Elon Musk sort of"},{"speaker":"Andy Hart","startTime":5338.76,"endTime":5341.64,"body":"connection, but it's a podcast"},{"speaker":"Andy Hart","startTime":5338.76,"endTime":5341.64,"body":"that came out very recently,"},{"speaker":"Andy Hart","startTime":5341.94,"endTime":5344.4,"body":"Mark Andreessen, who a lot of"},{"speaker":"Andy Hart","startTime":5341.94,"endTime":5344.4,"body":"you have known on the modern"},{"speaker":"Andy Hart","startTime":5344.4,"endTime":5348.0599999999995,"body":"wisdom podcast, they talk in"},{"speaker":"Andy Hart","startTime":5344.4,"endTime":5348.0599999999995,"body":"length about uh Elon. So if you"},{"speaker":"Andy Hart","startTime":5348.0599999999995,"endTime":5350.76,"body":"like Elon, you're going to learn"},{"speaker":"Andy Hart","startTime":5348.0599999999995,"endTime":5350.76,"body":"a lot of insights from a from a"},{"speaker":"Andy Hart","startTime":5350.76,"endTime":5353.88,"body":"close friend of his. I don't say"},{"speaker":"Andy Hart","startTime":5350.76,"endTime":5353.88,"body":"any wealth, but I think Elon's"},{"speaker":"Andy Hart","startTime":5353.88,"endTime":5356.42,"body":"net worth at night was about"},{"speaker":"Andy Hart","startTime":5353.88,"endTime":5356.42,"body":"four 50 billion. I know he's"},{"speaker":"Andy Hart","startTime":5356.42,"endTime":5358.76,"body":"doing a lot more, you know,"},{"speaker":"Andy Hart","startTime":5356.42,"endTime":5358.76,"body":"better stuff, beyond the wealth,"},{"speaker":"Andy Hart","startTime":5358.76,"endTime":5361.58,"body":"but is she just insane numbers?"},{"speaker":"Andy Hart","startTime":5358.76,"endTime":5361.58,"body":"And the guy's just getting"},{"speaker":"Andy Hart","startTime":5361.58,"endTime":5363.74,"body":"started. I mean, the good he's"},{"speaker":"Andy Hart","startTime":5361.58,"endTime":5363.74,"body":"going to do inside the US"},{"speaker":"Andy Hart","startTime":5363.74,"endTime":5366.0199999999995,"body":"government is going to be"},{"speaker":"Andy Hart","startTime":5363.74,"endTime":5366.0199999999995,"body":"something we're not seeing seen"},{"speaker":"Andy Hart","startTime":5366.0199999999995,"endTime":5369.44,"body":"before. So, yeah, so massive"},{"speaker":"Andy Hart","startTime":5366.0199999999995,"endTime":5369.44,"body":"loving for Elon Musk. And"},{"speaker":"Andy Hart","startTime":5369.44,"endTime":5372.8,"body":"there's a couple of two"},{"speaker":"Andy Hart","startTime":5369.44,"endTime":5372.8,"body":"recommendations, but Alan nick"},{"speaker":"Andy Hart","startTime":5372.8,"endTime":5375.86,"body":"or Elon Musk, fans, listen to"},{"speaker":"Andy Hart","startTime":5372.8,"endTime":5375.86,"body":"that modern wisdom mark. And"},{"speaker":"Nick Lincoln","startTime":5375.86,"endTime":5377.8,"body":"I did. I did. I"},{"speaker":"Nick Lincoln","startTime":5375.86,"endTime":5377.8,"body":"did listen to I couldn't go into"},{"speaker":"Nick Lincoln","startTime":5377.8,"endTime":5379.66,"body":"YouTube. Yeah, I watched. I"},{"speaker":"Nick Lincoln","startTime":5377.8,"endTime":5379.66,"body":"couldn't get all the way through"},{"speaker":"Nick Lincoln","startTime":5379.66,"endTime":5381.76,"body":"it. But I did. I just noticed"},{"speaker":"Nick Lincoln","startTime":5379.66,"endTime":5381.76,"body":"the most he's"},{"speaker":"Alan Smith","startTime":5381.76,"endTime":5386.08,"body":"an acquired taste is"},{"speaker":"Alan Smith","startTime":5381.76,"endTime":5386.08,"body":"Andreessen quite Yes, all the"},{"speaker":"Alan Smith","startTime":5386.08,"endTime":5389.86,"body":"comments, no one was loving him"},{"speaker":"Alan Smith","startTime":5386.08,"endTime":5389.86,"body":"on from the traditional Chris"},{"speaker":"Alan Smith","startTime":5389.86,"endTime":5390.76,"body":"Williams phrases."},{"speaker":"Nick Lincoln","startTime":5391.18,"endTime":5394.42,"body":"I went for a run"},{"speaker":"Nick Lincoln","startTime":5391.18,"endTime":5394.42,"body":"for the last couple of all in"},{"speaker":"Nick Lincoln","startTime":5394.42,"endTime":5398.58,"body":"podcasts without David Sacks,"},{"speaker":"Nick Lincoln","startTime":5394.42,"endTime":5398.58,"body":"because he's got not quite same"},{"speaker":"Nick Lincoln","startTime":5398.58,"endTime":5399.0,"body":"easy."},{"speaker":"Alan Smith","startTime":5400.2,"endTime":5402.84,"body":"It's like, if it's"},{"speaker":"Alan Smith","startTime":5400.2,"endTime":5402.84,"body":"like if one of us was missing. I"},{"speaker":"Alan Smith","startTime":5402.84,"endTime":5405.12,"body":"mean, imagine this podcast"},{"speaker":"Alan Smith","startTime":5402.84,"endTime":5405.12,"body":"without you. Nick,"},{"speaker":"Unknown","startTime":5408.72,"endTime":5415.0199999999995,"body":"that's true. Oh God, I"},{"speaker":"Unknown","startTime":5408.72,"endTime":5415.0199999999995,"body":"don't care."},{"speaker":"Alan Smith","startTime":5416.4,"endTime":5419.24,"body":"I'm pleased, I'm"},{"speaker":"Alan Smith","startTime":5416.4,"endTime":5419.24,"body":"pleased that two of the authors"},{"speaker":"Alan Smith","startTime":5419.36,"endTime":5420.68,"body":"mentioned in the book of the"},{"speaker":"Nick Lincoln","startTime":5420.679,"endTime":5422.3589999999995,"body":"year are close,"},{"speaker":"Nick Lincoln","startTime":5420.679,"endTime":5422.3589999999995,"body":"personal,"},{"speaker":"Alan Smith","startTime":5423.8,"endTime":5427.94,"body":"Morgan. Well,"},{"speaker":"Alan Smith","startTime":5423.8,"endTime":5427.94,"body":"Morgan's a friend of yours. I"},{"speaker":"Alan Smith","startTime":5427.94,"endTime":5429.5,"body":"introduced, I"},{"speaker":"Andy Hart","startTime":5429.8,"endTime":5433.5199999999995,"body":"introduced Morgan to"},{"speaker":"Andy Hart","startTime":5429.8,"endTime":5433.5199999999995,"body":"you for a photo."},{"speaker":"Alan Smith","startTime":5433.519,"endTime":5437.919,"body":"His latest person is"},{"speaker":"Alan Smith","startTime":5433.519,"endTime":5437.919,"body":"his own podcast. You know, Prof"},{"speaker":"Alan Smith","startTime":5437.919,"endTime":5441.939,"body":"G podcast. He has a whole big"},{"speaker":"Alan Smith","startTime":5437.919,"endTime":5441.939,"body":"intro about living in quite"},{"speaker":"Alan Smith","startTime":5441.939,"endTime":5445.299,"body":"interesting where he lives. He's"},{"speaker":"Alan Smith","startTime":5441.939,"endTime":5445.299,"body":"a neighbor of mine, so, yeah,"},{"speaker":"Alan Smith","startTime":5445.299,"endTime":5447.579,"body":"great to have some close"},{"speaker":"Alan Smith","startTime":5445.299,"endTime":5447.579,"body":"personal friends do so well."},{"speaker":"Alan Smith","startTime":5447.759,"endTime":5448.119,"body":"Well done."},{"speaker":"Andy Hart","startTime":5448.3,"endTime":5450.5199999999995,"body":"Alan, what did you"},{"speaker":"Andy Hart","startTime":5448.3,"endTime":5450.5199999999995,"body":"say about discussing something"},{"speaker":"Andy Hart","startTime":5450.5199999999995,"endTime":5452.86,"body":"before the end? Have you"},{"speaker":"Andy Hart","startTime":5450.5199999999995,"endTime":5452.86,"body":"forgotten because man of your"},{"speaker":"Andy Hart","startTime":5452.86,"endTime":5453.22,"body":"age or"},{"speaker":"Unknown","startTime":5453.34,"endTime":5454.36,"body":"Yeah? Forgotten."},{"speaker":"Nick Lincoln","startTime":5456.7,"endTime":5459.3,"body":"Trap pack. We are,"},{"speaker":"Nick Lincoln","startTime":5456.7,"endTime":5459.3,"body":"we are 90 minutes, well, nearly."},{"speaker":"Nick Lincoln","startTime":5459.84,"endTime":5463.92,"body":"And this isn't our final episode"},{"speaker":"Nick Lincoln","startTime":5459.84,"endTime":5463.92,"body":"of the year, is it? Oh, that's"},{"speaker":"Alan Smith","startTime":5464.34,"endTime":5470.7,"body":"something. Shorts."},{"speaker":"Alan Smith","startTime":5464.34,"endTime":5470.7,"body":"Just do the YouTube shorts get"},{"speaker":"Alan Smith","startTime":5470.7,"endTime":5472.32,"body":"make AI, do it. Come on. No, I'm"},{"speaker":"Nick Lincoln","startTime":5472.32,"endTime":5474.54,"body":"not doing I'm not"},{"speaker":"Nick Lincoln","startTime":5472.32,"endTime":5474.54,"body":"doing anything. I'm not doing"},{"speaker":"Nick Lincoln","startTime":5474.54,"endTime":5475.74,"body":"anything. Are you closing shot"},{"speaker":"Nick Lincoln","startTime":5474.54,"endTime":5475.74,"body":"for"},{"speaker":"Alan Smith","startTime":5475.74,"endTime":5477.5599999999995,"body":"the year? Now, well,"},{"speaker":"Alan Smith","startTime":5475.74,"endTime":5477.5599999999995,"body":"I'm not doing"},{"speaker":"Unknown","startTime":5478.099,"endTime":5480.3189999999995,"body":"that two weeks ago."},{"speaker":"Unknown","startTime":5478.099,"endTime":5480.3189999999995,"body":"This is giving everybody a good"},{"speaker":"Unknown","startTime":5480.3189999999995,"endTime":5482.899,"body":"insight as to how"},{"speaker":"Andy Hart","startTime":5487.22,"endTime":5489.74,"body":"demonetized again."},{"speaker":"Andy Hart","startTime":5487.22,"endTime":5489.74,"body":"Nick, monetized again. Sorry for"},{"speaker":"Nick Lincoln","startTime":5489.74,"endTime":5491.72,"body":"that lady drives"},{"speaker":"Nick Lincoln","startTime":5489.74,"endTime":5491.72,"body":"in the car with the children."},{"speaker":"Nick Lincoln","startTime":5492.14,"endTime":5492.5,"body":"Sorry,"},{"speaker":"Alan Smith","startTime":5494.3,"endTime":5495.8,"body":"school holidays now"},{"speaker":"Alan Smith","startTime":5494.3,"endTime":5495.8,"body":"she must"},{"speaker":"Andy Hart","startTime":5496.0999999999995,"endTime":5498.0999999999995,"body":"so you're saying the"},{"speaker":"Andy Hart","startTime":5496.0999999999995,"endTime":5498.0999999999995,"body":"show that we're going to put on"},{"speaker":"Andy Hart","startTime":5498.0999999999995,"endTime":5501.64,"body":"the second of January is going"},{"speaker":"Andy Hart","startTime":5498.0999999999995,"endTime":5501.64,"body":"to be the best of great. Okay,"},{"speaker":"Andy Hart","startTime":5501.7,"endTime":5504.34,"body":"get some chop up. The best of"},{"speaker":"Andy Hart","startTime":5501.7,"endTime":5504.34,"body":"that's hopefully going to be the"},{"speaker":"Andy Hart","startTime":5504.34,"endTime":5505.54,"body":"case. Yeah, why"},{"speaker":"Unknown","startTime":5505.54,"endTime":5509.44,"body":"don't we just talk"},{"speaker":"Unknown","startTime":5505.54,"endTime":5509.44,"body":"about this once we've recorded"},{"speaker":"Unknown","startTime":5509.92,"endTime":5510.46,"body":"everybody?"},{"speaker":"Nick Lincoln","startTime":5510.64,"endTime":5512.68,"body":"Okay, right? So"},{"speaker":"Nick Lincoln","startTime":5510.64,"endTime":5512.68,"body":"there you go, dear TRAPPIST,"},{"speaker":"Nick Lincoln","startTime":5512.74,"endTime":5516.42,"body":"episode one, Episode Episode 60"},{"speaker":"Nick Lincoln","startTime":5512.74,"endTime":5516.42,"body":"comes to a close. Another pile"},{"speaker":"Nick Lincoln","startTime":5516.42,"endTime":5519.42,"body":"of traps storage down the U bend"},{"speaker":"Nick Lincoln","startTime":5516.42,"endTime":5519.42,"body":"of Father Time. Thank you,"},{"speaker":"Nick Lincoln","startTime":5519.42,"endTime":5522.78,"body":"TRAPPIST for your support. In"},{"speaker":"Nick Lincoln","startTime":5519.42,"endTime":5522.78,"body":"2020 24 I think I could speak"},{"speaker":"Nick Lincoln","startTime":5522.78,"endTime":5524.82,"body":"for the trap pack. It's been a"},{"speaker":"Nick Lincoln","startTime":5522.78,"endTime":5524.82,"body":"great ride. We've got more"},{"speaker":"Nick Lincoln","startTime":5524.82,"endTime":5527.88,"body":"things planned. In 2025 we're"},{"speaker":"Nick Lincoln","startTime":5524.82,"endTime":5527.88,"body":"going to get even bigger and"},{"speaker":"Nick Lincoln","startTime":5527.88,"endTime":5530.46,"body":"even better and even more"},{"speaker":"Nick Lincoln","startTime":5527.88,"endTime":5530.46,"body":"unbearable until the next time"},{"speaker":"Nick Lincoln","startTime":5530.5199999999995,"endTime":5533.64,"body":"get through the festive period."},{"speaker":"Nick Lincoln","startTime":5530.5199999999995,"endTime":5533.64,"body":"Chew down the mother in laws"},{"speaker":"Nick Lincoln","startTime":5533.64,"endTime":5535.98,"body":"brussels sprouts. They are as"},{"speaker":"Nick Lincoln","startTime":5533.64,"endTime":5535.98,"body":"bad as you remember them to be,"},{"speaker":"Nick Lincoln","startTime":5535.98,"endTime":5539.78,"body":"but just smile, grimace, get"},{"speaker":"Nick Lincoln","startTime":5535.98,"endTime":5539.78,"body":"through it. Cane the booze, and"},{"speaker":"Nick Lincoln","startTime":5539.78,"endTime":5541.5199999999995,"body":"we'll see you on the other side."},{"speaker":"Nick Lincoln","startTime":5539.78,"endTime":5541.5199999999995,"body":"Adios,"},{"speaker":"Alan Smith","startTime":5541.8189999999995,"endTime":5543.3189999999995,"body":"goodbye. Merry"},{"speaker":"Alan Smith","startTime":5541.8189999999995,"endTime":5543.3189999999995,"body":"Christmas. Merry"},{"speaker":"Unknown","startTime":5543.32,"endTime":5547.58,"body":"Christmas. Everybody by"},{"speaker":"Unknown","startTime":5543.32,"endTime":5547.58,"body":"the Christmas jingle. Nick, he"},{"speaker":"Unknown","startTime":5548.3,"endTime":5548.66,"body":"hasn't"},{"speaker":"Alan Smith","startTime":5548.66,"endTime":5549.98,"body":"done one. Come"},{"speaker":"Unknown","startTime":5549.98,"endTime":5551.0599999999995,"body":"on, amateur, nicely,"},{"speaker":"Unknown","startTime":5552.019,"endTime":5558.259,"body":"absolute shambles. That's a"},{"speaker":"Unknown","startTime":5552.019,"endTime":5558.259,"body":"real."}]}