WEBVTT

1
00:00:04.879 --> 00:00:11.400
<v Speaker 1>About. This is the seventy seven WABC Mini Test. Now.

2
00:00:11.480 --> 00:00:14.439
<v Speaker 1>I know you've told people you don't believe in socialism

3
00:00:14.439 --> 00:00:16.640
<v Speaker 1>because it's the thing to do at the old age home.

4
00:00:17.320 --> 00:00:21.640
<v Speaker 1>I don't believe in I'm socialists. I don't believe that. Yeah,

5
00:00:22.559 --> 00:00:26.519
<v Speaker 1>but I don't believe you. There is one test to

6
00:00:26.640 --> 00:00:30.239
<v Speaker 1>prove whether or not you are a socialist or not.

7
00:00:30.960 --> 00:00:35.640
<v Speaker 1>One test. You've been alive a while, according to the

8
00:00:35.679 --> 00:00:40.880
<v Speaker 1>Sales Department, much less time than it's true. However, there's

9
00:00:40.960 --> 00:00:45.320
<v Speaker 1>one test to determine whether or not you are a socialist,

10
00:00:45.479 --> 00:00:49.600
<v Speaker 1>and it's this. At any point in your life, have

11
00:00:49.719 --> 00:00:54.719
<v Speaker 1>you tried to start a business from scratch? Only a

12
00:00:54.759 --> 00:00:59.399
<v Speaker 1>true capitalist would try to start a business from scratch?

13
00:00:59.679 --> 00:01:02.439
<v Speaker 1>Does it no matter what it is, and it certainly

14
00:01:02.520 --> 00:01:05.760
<v Speaker 1>doesn't matter if it succeeded, because ninety ninety five percent

15
00:01:05.760 --> 00:01:10.519
<v Speaker 1>of businesses that start brand new businesses do fail. Odds

16
00:01:10.560 --> 00:01:15.480
<v Speaker 1>are bad, almost as bad as a successful marriage. If

17
00:01:15.519 --> 00:01:20.000
<v Speaker 1>you've ever tried to start a business on your own, congratulations,

18
00:01:20.239 --> 00:01:23.599
<v Speaker 1>you're a capitalist. If you have not, if you have

19
00:01:23.719 --> 00:01:28.319
<v Speaker 1>not fantasized about doing that, if you've not imagined the power,

20
00:01:28.400 --> 00:01:32.560
<v Speaker 1>the omnipotence of running your own business, growing your own business,

21
00:01:32.599 --> 00:01:36.159
<v Speaker 1>starting your own business. If you have done that, then

22
00:01:36.200 --> 00:01:40.280
<v Speaker 1>you're a capitalist. But if you've not, you are a socialist.

23
00:01:43.040 --> 00:01:45.920
<v Speaker 1>Remember that time you tried to start your own strip club.

24
00:01:46.959 --> 00:01:50.280
<v Speaker 1>There were some key points about the business model that

25
00:01:50.319 --> 00:01:55.000
<v Speaker 1>you missed in order to have a successful strip club.

26
00:01:55.599 --> 00:01:58.879
<v Speaker 1>There's some things that are important to understand. Very few

27
00:01:58.920 --> 00:02:03.239
<v Speaker 1>people outside of the strip club industry actually understand these

28
00:02:03.280 --> 00:02:08.039
<v Speaker 1>things running a strip club. Operating a strip club is

29
00:02:08.199 --> 00:02:15.960
<v Speaker 1>very much like running a mall, running a barbershop. The

30
00:02:16.000 --> 00:02:21.599
<v Speaker 1>way strip clubs work is not the way outsiders imagine it. Now,

31
00:02:21.599 --> 00:02:24.000
<v Speaker 1>you're an insider. You tried to start a strip club.

32
00:02:24.000 --> 00:02:28.159
<v Speaker 1>You found it very attractive. You're a capitalist. You know that.

33
00:02:28.240 --> 00:02:30.599
<v Speaker 1>The most interesting thing about a strip club is that

34
00:02:30.639 --> 00:02:38.400
<v Speaker 1>those women are not your employees. Those women like renting

35
00:02:38.479 --> 00:02:42.080
<v Speaker 1>a chair in a barber shop. They rent a position

36
00:02:42.919 --> 00:02:46.719
<v Speaker 1>in the strip club. They work a certain number of hours,

37
00:02:47.479 --> 00:02:49.840
<v Speaker 1>and they split the revenue with the owner of the club.

38
00:02:50.960 --> 00:03:01.159
<v Speaker 1>They also split some other things drinks, security, bouncers. They

39
00:03:01.479 --> 00:03:05.639
<v Speaker 1>split the revenue on everything with the owner. It's about

40
00:03:05.639 --> 00:03:08.960
<v Speaker 1>a fifty percent split. All the money they bring in,

41
00:03:09.319 --> 00:03:11.560
<v Speaker 1>whatever they bring in, it's about fifty percent they have

42
00:03:11.639 --> 00:03:18.159
<v Speaker 1>to split, and then the internal structure of the tipping

43
00:03:18.879 --> 00:03:23.639
<v Speaker 1>is complex in a strip club, incredibly complicated. I made

44
00:03:23.639 --> 00:03:26.199
<v Speaker 1>some notes. Let me just make sure I get this right,

45
00:03:26.240 --> 00:03:28.800
<v Speaker 1>because I don't want to. If you're in Jersey, I

46
00:03:28.840 --> 00:03:31.479
<v Speaker 1>don't want to get this wrong. The most fundamental thing

47
00:03:31.560 --> 00:03:33.599
<v Speaker 1>you have to know about strip clubs is that they

48
00:03:33.639 --> 00:03:38.120
<v Speaker 1>are malls. The dancers pay rent to work at the club.

49
00:03:38.560 --> 00:03:42.000
<v Speaker 1>They are not employees or contractors. They work like barbers,

50
00:03:42.599 --> 00:03:45.800
<v Speaker 1>taxi drivers. They pay a portion of what they earn

51
00:03:46.199 --> 00:03:54.080
<v Speaker 1>to the house. They keep the rest. There's a delicate

52
00:03:54.120 --> 00:03:58.680
<v Speaker 1>balance between having too many dancers and missing out on revenue.

53
00:03:59.120 --> 00:04:03.360
<v Speaker 1>The best dancer they don't want other dancers. The best

54
00:04:03.479 --> 00:04:07.719
<v Speaker 1>dancers don't want other dancers there. You might think the

55
00:04:07.759 --> 00:04:11.240
<v Speaker 1>more dancers, the more business, but no, the best dancers

56
00:04:11.280 --> 00:04:14.919
<v Speaker 1>they have regulars, and they want their regulars. They want

57
00:04:14.919 --> 00:04:17.879
<v Speaker 1>their regulars to be there and not to be distracted

58
00:04:17.920 --> 00:04:21.439
<v Speaker 1>by others. For you, the owner of the strip club,

59
00:04:24.560 --> 00:04:26.800
<v Speaker 1>you want as many dancers as you can get because

60
00:04:26.839 --> 00:04:29.319
<v Speaker 1>you want as much volume as you can get. However,

61
00:04:30.360 --> 00:04:34.279
<v Speaker 1>if you're a stripper, you don't want volume. You want regulars.

62
00:04:34.759 --> 00:04:38.560
<v Speaker 1>There's a conflict right there. You might have imagined that

63
00:04:38.759 --> 00:04:41.319
<v Speaker 1>running the strip club was going to be easy, be

64
00:04:41.399 --> 00:04:44.120
<v Speaker 1>really good. A club makes a lot of money from

65
00:04:44.160 --> 00:04:47.360
<v Speaker 1>sales of food and beverages. If you can serve alcohol,

66
00:04:47.639 --> 00:04:49.720
<v Speaker 1>you make a lot of money from the liquor sales.

67
00:04:49.800 --> 00:04:53.040
<v Speaker 1>Managing that business is pretty much like dealing with any

68
00:04:53.079 --> 00:04:57.519
<v Speaker 1>other bar. You need to increase volume and prices to

69
00:04:57.639 --> 00:05:00.920
<v Speaker 1>increase revenues, but you don't want your paid tants so

70
00:05:01.199 --> 00:05:05.319
<v Speaker 1>drunk they cause problems. It's a delicate balance. Everything about

71
00:05:05.319 --> 00:05:08.879
<v Speaker 1>a strip club is a delicate balance. In some clubs,

72
00:05:08.879 --> 00:05:11.800
<v Speaker 1>the entertainers are required to generate a certain number of

73
00:05:11.920 --> 00:05:16.199
<v Speaker 1>drink sales per hour. Usually they do this by getting

74
00:05:16.240 --> 00:05:21.480
<v Speaker 1>patrons to buy them drinks. Obviously, if they actually consumed

75
00:05:21.519 --> 00:05:26.160
<v Speaker 1>all those drinks, they wouldn't be able to work. Clubs

76
00:05:26.199 --> 00:05:29.279
<v Speaker 1>may also charge an entrance fee or cover charge. Typically

77
00:05:29.759 --> 00:05:32.000
<v Speaker 1>they can only do this when there is a high

78
00:05:32.120 --> 00:05:37.160
<v Speaker 1>enough demand to get into the club. Inside the club,

79
00:05:37.240 --> 00:05:39.120
<v Speaker 1>this is where it gets very tricky, and this is

80
00:05:39.160 --> 00:05:42.000
<v Speaker 1>probably why you failed when you were running that strip club.

81
00:05:42.279 --> 00:05:47.160
<v Speaker 1>This is probably why you failed. Inside the club, there's

82
00:05:47.199 --> 00:05:52.279
<v Speaker 1>a very detailed tipping economy. Remember, the dancers are not employees,

83
00:05:52.759 --> 00:05:56.319
<v Speaker 1>they are independent business people using the club as a

84
00:05:56.399 --> 00:06:00.879
<v Speaker 1>venue to generate in club, everyone in the club who

85
00:06:00.959 --> 00:06:03.800
<v Speaker 1>is not an entertainer feels entitled to a part of

86
00:06:03.839 --> 00:06:08.439
<v Speaker 1>the revenue that the dancers make. The justifications are lengthy

87
00:06:08.480 --> 00:06:15.480
<v Speaker 1>and mostly nonsense, but it boils down to this. If

88
00:06:15.759 --> 00:06:19.360
<v Speaker 1>you dance in a strip club, be prepared to pay

89
00:06:19.399 --> 00:06:24.040
<v Speaker 1>fifty percent of everything you earn in tips to other people.

90
00:06:25.319 --> 00:06:28.279
<v Speaker 1>The guy with the broom cleaning up, he expects a

91
00:06:28.319 --> 00:06:31.480
<v Speaker 1>tip from you. The dancer, the guy at the door

92
00:06:31.519 --> 00:06:35.639
<v Speaker 1>expects a tip from you, The bartenders expect tips from you.

93
00:06:35.839 --> 00:06:41.800
<v Speaker 1>Everybody expects a tip from the dancer, and the dancer

94
00:06:41.879 --> 00:06:47.439
<v Speaker 1>believes that all of it should be hers. That's the dilemma,

95
00:06:47.600 --> 00:06:50.199
<v Speaker 1>That is the challenge. What does that mean. It means

96
00:06:50.199 --> 00:06:54.160
<v Speaker 1>that as the owner of a strip club you, when

97
00:06:54.160 --> 00:06:57.920
<v Speaker 1>you owned a strip club, your challenge was managing the

98
00:06:58.000 --> 00:07:02.160
<v Speaker 1>expectations of the staff with the expectations of the dancer,

99
00:07:02.959 --> 00:07:07.040
<v Speaker 1>and the demand for tips distributed as a result of

100
00:07:07.079 --> 00:07:09.279
<v Speaker 1>the work of the dancer. Now imagine you're taking off

101
00:07:09.279 --> 00:07:11.959
<v Speaker 1>your clothes, You're dancing around for a bunch of slobs

102
00:07:11.959 --> 00:07:15.639
<v Speaker 1>in Jersey. You're the reason the club exists, and yet

103
00:07:15.680 --> 00:07:17.720
<v Speaker 1>you still have to give up half of your income

104
00:07:18.399 --> 00:07:24.399
<v Speaker 1>in tips to these clowns all around you. No doubt,

105
00:07:24.439 --> 00:07:27.680
<v Speaker 1>when you owned a strip club, that's where the fights

106
00:07:27.720 --> 00:07:30.519
<v Speaker 1>came because you look at you. Were you able to

107
00:07:30.519 --> 00:07:33.360
<v Speaker 1>stop the fights? Were you able to manage all that?

108
00:07:33.519 --> 00:07:36.680
<v Speaker 1>And then what about Vinnie? When Vinnie comes in to

109
00:07:36.720 --> 00:07:41.399
<v Speaker 1>collect his tip? You want fresh towels, that's going to

110
00:07:41.439 --> 00:07:44.199
<v Speaker 1>be twenty percent of your revenue. You want clean glasses?

111
00:07:44.879 --> 00:07:47.920
<v Speaker 1>Or do you want all these classes trashed by tomorrow morning?

112
00:07:49.279 --> 00:07:52.079
<v Speaker 1>Those are the challenges of managing a strip club, especially

113
00:07:52.079 --> 00:07:56.959
<v Speaker 1>in the Great Northeast. Now I know that you tried

114
00:07:57.000 --> 00:07:59.040
<v Speaker 1>to run a strip club. I know that you started

115
00:07:59.279 --> 00:08:02.079
<v Speaker 1>several I know that your family didn't know about it.

116
00:08:03.040 --> 00:08:06.439
<v Speaker 1>But you figured you'd play Russian roulette. You'd run the

117
00:08:06.439 --> 00:08:10.839
<v Speaker 1>strip club long enough that it would get successful enough

118
00:08:11.079 --> 00:08:13.079
<v Speaker 1>you'd be able to bring in money for your family,

119
00:08:13.480 --> 00:08:16.360
<v Speaker 1>and everybody would be happy, and nobody would ask you, really,

120
00:08:16.360 --> 00:08:18.279
<v Speaker 1>what's it like to run a strip club? Or how

121
00:08:18.279 --> 00:08:20.079
<v Speaker 1>does that happen? Or how do the girls find you?

122
00:08:20.160 --> 00:08:22.000
<v Speaker 1>Or what do you do with the girls? What do

123
00:08:22.000 --> 00:08:24.720
<v Speaker 1>you do with girls in their off time as a manager?

124
00:08:25.120 --> 00:08:30.839
<v Speaker 1>Are you allowed anything? Absolutely not. They're the challenges but

125
00:08:30.920 --> 00:08:34.240
<v Speaker 1>it proved one thing when you ran the strip club.

126
00:08:34.399 --> 00:08:37.759
<v Speaker 1>It proved you are a capitalist and not a socialist.

127
00:08:37.879 --> 00:08:40.799
<v Speaker 1>No socialist ever says, you know what I'm going to do.

128
00:08:40.960 --> 00:08:44.759
<v Speaker 1>I'm going to start up a strip club. No socialist

129
00:08:44.759 --> 00:08:47.279
<v Speaker 1>ever says I'm going to start up my own store.

130
00:08:48.000 --> 00:08:51.159
<v Speaker 1>I'm going to risk ninety percent of my savings to

131
00:08:51.240 --> 00:08:59.200
<v Speaker 1>start this shoe store, this after school supply store, this bodega,

132
00:08:59.360 --> 00:09:04.080
<v Speaker 1>this strip club. And that's the proof. If you've imagined

133
00:09:04.120 --> 00:09:06.600
<v Speaker 1>over these past few weeks, when socialism has become a

134
00:09:06.679 --> 00:09:14.240
<v Speaker 1>very hot topic on old fashioned dog stations, when it's

135
00:09:14.279 --> 00:09:18.039
<v Speaker 1>become a very hot topic, you've sat back and said, well,

136
00:09:18.200 --> 00:09:22.000
<v Speaker 1>I'm no socialist, And I challenge you, my friend, I

137
00:09:22.120 --> 00:09:26.120
<v Speaker 1>say you are a socialist unless you have started up

138
00:09:26.159 --> 00:09:29.799
<v Speaker 1>your own business, because beating in the heart of every

139
00:09:29.879 --> 00:09:34.519
<v Speaker 1>true capitalist is a deep and profound desire to own

140
00:09:34.840 --> 00:09:39.679
<v Speaker 1>their own business. Have you tried to own your own business?

141
00:09:40.639 --> 00:09:42.159
<v Speaker 1>Did you start up the strip club?