In this eye-opening video, Patrick Bet-David discusses the groundbreaking decision by James Lee to launch the Texas Stock exchange. With early support from BlackRock & Citadel, many believe it can compete with the mighty NYSE and Nasdaq.

Learn more about the 2024 Vault Conference and secure your ticket today!

Do you remember during COVID where everybody was observing how many people were leaving states like New York, California, and Illinois in a mass migration to Texas, Florida, and other southern states?

There were two states that lost a trillion dollars of money under management—a trillion dollars of wealth moved out of two states.

I’ll show you the numbers and I’ll show you who gained it. But this led to some people sitting there and saying, maybe it’s time for Texas to have its own Stock Exchange?

“No way that’s a pretty crazy idea, you mean to tell me—like typically it’s always been New York Stock Exchange, it’s been NASDAQ yeah why would I want to go to the Texas Stock Exchange?”

Well because if you were on NASDAQ right now, here’s NASDAQ’s new mandate to be on their Stock Exchange: boardroom diversity, quotas for companies that list shares on its exchange; starting this year they must have a woman/underrepresented minority/LGBTQ member or publicly explain why they don’t.”

Can you imagine? “Well let me tell you why we don’t have a gay board member right now, it’s, it’s, it’s uh it’s because uh uh you know uh uh do you really want to like”—who the hell

are you to explain this to? I’m running a freaking business, you want me to explain to you why I don’t have somebody that’s on a board that’s this I’m bringing the best people in the company. And yet NASDAQ has declared that boards of bigger companies must include at least two diverse directors by the end of 2026.

So imagine, NASDAQ is saying that, and then Texas says listen, we’re going to start something that’s anti-woke, that’s more CEO friendly, capitalism friendly?

There’s a lot of stuff going on that we’re going to be talking about today. Watch the full video to learn more about this important decision.

Add comment