0:04 Who are you and where are you going? What do you [Music] want? Hello and welcome to Business Lessons from the Military. I'm your host, Kevin Bemel, and we are here every Tuesday at 10:00 a.m. Pacific time to talk about military history, doctrine, and the practices of great military leaders and then distill lessons from
0:41 them that we can apply to our businesses and professional practices uh to make them more successful. So, uh this is my way of of giving back to you, my uh fellow citizens, uh for the support that you gave my colleagues and and me when we were in the military. Um we we were very fortunate to serve during a time when we had the support and respect of our fellow Americans and that was not always the case even during my lifetime. In fact, I was talking to uh a fellow
1:17 veteran who's going to be appearing on the show uh sometime in the next I think couple of months and we were talking about uh uh the differences now versus then. And uh um this show is sponsored by the Beverly Hills Council of the uh Navy League of the United States. And I'll talk a little bit more about them uh as we go into the show. So today's show is happening uh just a few days shy of the 250th anniversary of the battles of Lexington and conquered that really
1:55 ushered in the uh uh the American war for independence. Um the battles happened on the 19th of April in 1775 and and that that's just four days hence and um they are they are famous for and hence the the title of this show um the the the the first shot fired um at uh at at Lexington, the battle of Lexington
2:30 was which Nobody knows who who fired it, British or American, is known as the shot heard round the world. And so today's uh show is is the shot heard round the boardroom or maybe it's just the shot heard round the business your business. And so I'm going to talk a little bit about the history of these battles and and and as is our practice distill some lessons from them. So uh he uh basically um the the start of the American re revolutionary war which was between uh
3:06 the American colonists and the uh and and Great Britain. Um what happened was um over the preceding months and even even years. Tensions had been rising between the colonists and uh specifically King George, although there were things that Parliament did um in support of the king um that that uh upset the colonists. and and among the things that uh preceded this um were the
3:41 the Stamp Act and and the um the tax on tea. uh and and and and really the Americans, for those of you who know American history, uh felt like they were being treated like secondass citizens as opposed to full citizens or full subjects really since it was it's since uh Great Britain was a monarchy uh is a monarchy still uh um rather than full full subjects of of Great Britain. and and so um uh the the climate got more and more
4:16 heated um and eventually um the British government decided they needed to take some action which they thought would forstall um more violence. So um among the things leading up to this uh um well and in in any event they wanted to forestall um u more more violence and so um they decided to seize colonial military stores uh supplies uh stored in conquered Massachusetts um as well as
4:52 arrest um two of what they termed the rebel leaders. This sounds like Star Wars, right? uh Sam Samuel Adams um after whom the aonomous beer is named um and John Hancock after whom an insurance company is named. You know, it shows you um how these things go. Um and they were believed to be in Lexington. And so uh uh if if if you're familiar with the famous poem The Midnight Ride of Paul Rivere. So uh um Paul Rivere and and and
5:32 um another man whose name I'm going up up on. um they they were set to go warn uh the local militia men known as Minutemen if the British left uh Boston. And so the the poem goes um you know on the 18th of April in 75 hardly a man is now alive who remembers this famous day and year. So um uh the battle itself uh happened on
6:08 April 19th, but um before the battle um these riders went into the countryside to alert the Minutemen. And so early in the morning of April 19 in Lexington, uh, Massachusetts, about 700 British soldiers marched off toward Conquered, and they were met on Lexington Green by about 70 colonial militia men, Minutemen, and and as I mentioned a few minutes ago, a shot was fired. Um, nobody knows who fired the shot. Uh it
6:45 has been speculated that it couldn't have been the British. These were very highly trained and disciplined British troops. Um and the the uh colonial militia were not nearly as highly trained and disciplined. Um so you know on that basis it would seem more likely that it was the colonials that fired the first shot, but it's never been and and never will be established who fired uh that shot. Um but it led to a a short skirmish in which the British killed eight Americans and wounded several
7:20 others scattering the militia. Um and and again this was called the shot heard round the world and it start it opened armed conflict between basically um to the the the two uh between the British and the American colonies. So after the skirmish on Lexington Green, the British continued on their way toward Conquered um and they began destroying some of the colonial uh supplies. So at Northbridge
7:56 um they encountered a much larger force of armed colonial militias and a battle broke out and in fact the Americans success successfully uh pushed back um the British and and indeed rather than escalate the conflict the British uh decided to retreat back toward Boston. Now, battles at this time, uh, generally speaking, were fought where you'd have one army line up on one side of a field and the other the other, and they
8:32 advance toward each other, and they shot, and then they might charge and fight with, you know, bayonets on on on musketss and such. So, that is not how the American militia fought. Um, essentially they fought what came to be called a guerilla style war. And that is as the British retreated back toward Boston, the colonial minutemen um and eventually thousands of them uh engaged in this battle. They would fire at the British from behind walls and trees. So
9:09 from sheltered positions in the meantime, the British continued marching down the road. And if you can imagine, they had these scarlet tunics on the they were very impressive. In fact, one of the reasons uh that that men joined the British army was in order to wear this very impressive uniform with the with the white cross straps and and and the red tunic. It was a a very uh impressive looking uniform. But of course, it also made them very obvious targets for the militia men. So by the time the British reached
9:46 Boston, excuse me, they had suffered around 250 casualties to the Americans roughly 90 uh casualties. And uh and it it showed um the the British that you know the Americans were were not going to go quietly into the night, so to speak. So um it it was the first um major military engagement between Great Britain and the colonies. It united the colonies um and led directly to the formation of the Continental Army under
10:23 the general ship of George Washington. And it showed also that the colonists were willing to fight and die for what they felt were their rights. Um so in some ways while this this precipitous action to uh capture supplies was meant to prevent uh military action between Great Britain and and the American colonies. Indeed, it precipitated the very thing that it it it meant to to prevent. And and so
10:58 um in the followup um the first continental congress was formed and as I talked about on um uh last July 4th I believe it was eventually the declaration of independence was issued. America the American colonies declared their independence from Great Britain. They formed the United States of America. the the war was fought and and eventually um with French help um the United States uh prevailed um and established an independent country. So uh what what can we learn from you know
11:36 from this this you know basically less than day long battle? Um really it was more a a series of skirmishes um between the British and the American uh minute men. Well, I I I came up with um I think it's seven six with six thoughts on this. Um not sure if we're going to go through all six. We'll see how much time there is. Um excuse me. But the first one is underestimate at your own risk. So the
12:11 British were absolutely confident that when faced with a with a a British force, uh the American colonists would fold under pressure. They wouldn't fight. They would dispand and run away. And so in the business world, we should never underestimate our competition or for that matter our customers. So even a small player uh can disrupt a market um if they're if they're passionate and prepared. So an example of this is when uh Tik Tok
12:49 uh first started gaining traction in the United States around 2018 2019. So um Facebook what is now Meta largely dismissed Tik Tok as just the sort of Gen Z dance app. there were these, you know, short videos with these, you know, silly things going on and instead of addressing um the the threat headon, Facebook basically ignored it and focused heavily on um uh Facebook's and Instagram's existing features. So by the time that
13:26 Facebook um or Meta realized Tik Tok's power uh especially its addictive sort of AIdriven uh content system that sort of kept feeding more and more material to users in a way that you know just kept them glued to to Tik Tok. uh Tik Tok had come to dominate uh the younger demographic uh number one and number two it had reshaped how they consumed video. So uh Facebook which had started out as as
14:02 sort of uh the uh capturing the the market of social media from if if you remember uh MySpace you know you know just a what you know was was the first one in Facebook was not the the first player in they actually came in after MySpace. So Facebook became sort of the the stodgy place that your parents you know you used social media and Tik Tok became the place for the younger uh demographic. So
14:37 uh Facebook it launched Instagram reels and Facebook reels but they never really caught on uh the way Tik Tok did. So um you know Facebook made a major strategic error there and as a result uh you know Tik Tok came to dominate not just the market in the United States but really throughout the world. Now, it is interesting uh the the Tik Tok is a a Chinese company. If you've been following the news, you know that the Tik Tok that one sees in China is very
15:14 different than the one that uh you see here in the United States and other places like Israel. So, um and and hence the dispute between the United States and China etc about about Tik Tok. So again, underestimate at your own risk. Don't be so sure that because you're dominant today that you will stay dominant. Number one. And the flip side is is just because there's a dominant player in the market doesn't mean that you cannot innovate in a way that will
15:49 challenge that dominant player's dominance um and allow you to break through. Okay. So the you know the the tech world is infamous for for teaching that lesson whether it's IBM and Apple and and Huelet Packard all of these companies I mean Huelet Packard and and Apple um um Dell as well these they were all challenging what was thought to be the dominant company IBM and now you look at where IBM is today and where these other companies are and and and
16:25 the tables are are definitely turned. So that that's u uh lesson number one underestimate at your own risk. Uh uh lesson number two, local knowledge beats size. So uh the the British army was a highly organized, highly trained, highly disciplined fighting force. Okay? They had won many, many battles. Um and while uh generally speaking the the British
17:00 the Royal Navy uh was really considered the uh uh the fighting force uh that that maintained uh Britain's um empire um because Britain had to control the seas. Um the army was a tremendously powerful military force. Um, and yet when they came up against the Minutemen who knew the terrain, they were fighting it extremely well and and were very adept at uh firing on the run
17:38 because they, you know, they they they were hunters and and and that sort of thing. Uh so they the you know the the the local knowledge and if you will skill set um allowed the Minutemen to use guerilla tactics um to harass and essentially beat up the superior larger British force. And so again, just because um uh there's a dominant business in a particular uh
18:16 field doesn't mean that a smaller more uh uh a smaller competitor that really knows the local market uh won't be successful. So um we we saw this in uh the battle between um legacy hotel chains like Marriott and Hilton and Airbnb. So, Airbnb was all about harnessing the power of local knowledge, giving people in the local area the ability to
18:51 essentially provide accommodations that uh were much more in character with the local scene. So, you know, staying in an apartment in a particular part of whatever New York, Los Angeles, Chicago, wherever it was, was very different uh than staying in a hotel, especially a chain hotel like a Marriott or a Hilton. And they obviously they had, you know, these these large hotel chains have many different labels, whether it's Courtyard by Marriott,
19:27 whether it's uh Fair Fairfield and all these different names. But the idea behind these hotels is they give travelers a very consistent uh ex guest experience. The idea behind Airbnb was they were giving travelers a unique localized experience. And while Airbnb struggled for a few years getting off the ground, it eventually broke through largely because there is a group of travelers out there who want that
20:03 sort of local experience and and and so they will escue the hotel chains in in order to get it. and and and that really was at least part of the basis for uh Airbnb's success. So they were able to tailor their offerings to specific neighborhoods and cultures, right? So you could stay um you know if you wanted to stay in a place uh you know close to say Chinatown
20:38 in San Francisco or or Chinatown of New York for example or you know stay in uh um you know some other cultural district in another city you were able to do so whereas you couldn't be guaranteed such a thing with a legacy hotel. Um and so you know the message here is you know play to your strengths, know your local market. Okay. Um that that kind of very specific knowledge uh especially when it's applied to marketing can be much more
21:13 powerful than a huge budget. Okay. All right. So that's number two. Uh local knowledge beats size. Uh number three agility wins. Okay. So, uh the colonial militia men, they they they had fastm moving decentralized militias that moved quickly, adapted quickly. Uh the British had a very uh traditional and slowm moving rigid command structure and and so it you it was much more difficult for
21:50 them to adapt to the way that the American colonists were fighting the war. Okay? And in the end that was a large part of their downfall. In fact, if you read stories about how uh the British fought, many of the British officers were, you know, while their men were in the field, they were at at parties and salons and such with, especially in New York where there was a a a great deal of sympathy for the British cause among the Tories there. So, you know, they, you know,
22:26 they weren't even hardly paying attention to what was going on, let alone making the uh decisions, the alterations that needed to have taken place to effectively fight the Americans, whereas George Washington stayed in the field uh with with his troops. So um the again the lesson here is agile companies that adapt quickly to to changing circumstances and and a changing business climate they will outperform um bureaucratic giants
23:02 especially in a crisis especially in a time of rapid change. So an an example here is Kodak. Now, um, if you're of my vintage, Kodak was the camera company. And in fact, if you remember, there was a song by uh, Simon and Garfuncle, Kodakchrome, right? It was about a type of Kodak film that had the best color as opposed to there was also ectochrome. And I know when when my uh producing partner Rick
23:39 Carter and I first started making our our our Super Eight movie shorts, we always preferred to get Kodakchrome film uh because it was much higher quality than ectochrome. Uh and and so Kodak Kodak represented the epitome of cameras es especially motion picture cameras uh here in the United States. Um and in fact co Kodak invented the digital camera in
24:14 1975 and then shelved the idea in order to protect their legacy film business. They could not see a model of of business that was as profitable as selling a camera that needed you then to buy uh film whether it was uh 35 millimeter film for you know like a single single lens reflex camera or super eight or even 16 millimeter uh movie film. That's where Kodak made so much of its money was actually in selling films, not not as much in
24:49 selling cameras. And so they were concerned that if they if they started producing digital cameras, they would cannibalize their most pro profitable product and be and and and and they would destroy their business. And so they stuck with their traditional business model. Meanwhile, more agile players like Canon, like Sony, and eventually smartphone manufacturers, Apple being of course primarily among them, moved quickly into the digital space. They weren't constrained by
25:24 legacy products, i.e. film. Although, for example, Fuji made film u but um Canon, Sony, these companies did not. And so they took advantage of digital camera technology and eventually Kodak, you know, 25 years after developing the technology um in the 2000s, uh Kodak decided, "Oh gosh, you know, we we made a major mistake here." Um and but by then their their
26:00 legacy film business was was drying up. Um and they were way behind in developing digital camera technology. Um by then smartphones were taking better pictures for those people who who like digital photography were taking better pictures than uh than you know um cameras with traditional film. Um and as a result in 2012 Kodak filed for bankruptcy. That's how badly they
26:37 miscalculated by letting their more agile competitors essentially become dominant in the digital camera business. Now, I will say just just as a digression for a moment, I've always found pictures made from traditional film to look better than digital film, although digital photography does keep getting better and better. Um, but just like I find music played from a vinyl record to be better than digital music. Uh, that's that I'm just a purist in that way, I guess. Um, but there's no there's no doubting that, uh, Kodak made a huge strategic error by
27:16 not exploiting its invention of digital photography to the point where it essentially destroyed the company. much to the sugarin of people living in Rochester, New York, where their headquarters is. So, going to take just a break here uh for for a couple minutes to tell you about our sponsor, which is the Beverly Hills Council of the Navy League of the United States. So, the Navy League of the United States has a a three-prong mission, and that is to support, educate, and advocate for the
27:52 sea services. The sea services are the United States Marine Corps, the United States Navy, the United States Coast Guard, and the United States Mer Merchant Marine. And um through their programs, they help Americans learn about what the sea services do, the challenges that they face, and how we as citizens, both those of us who are or have been in the sea services and our fellow citizens, can support the sea services and make our
28:27 country safer. So, I invite you to I I am, by the way, president of the Beverly Hills Council, and I invite you to learn more about the Navy League of the United States by going to navyleague.org, that link will be in the show notes for this episode. And if you choose to become a member and and join us in this important work, uh if you're in the greater Los Angeles area, I I you know, respectfully ask that you designate the Beverly Hills Council uh
29:04 as as your home council and that way you'll be included in our activities. One of which coming up next month is we're going to be doing an informal event at Fleet Week, which is uh May 23rd through 26, I believe, of 2025. And it is the 250th year anniversary of the United States Navy as well this year. So, uh it should be a a special fleet week. So, thanks very much to the Beverly Hills Council of the Navy League of the United States for sponsoring business lessons from the military.
29:41 Okay, so we've been This is Business Lessons from the Military. We're here every Tuesday at 10 a.m. Pacific time and we're talking about the shot heard round the boardroom here on what is the 250th anniversary of the battles of Lexington and Conquer. And we've talked about three lessons so far. One is underestimate at your own risk. The second is local knowledge beats size. And the third one is agility wins. Okay. So now the fourth one is uh clear
30:17 purpose inspires action. So the colonists had a very compelling cause for which they were fighting which is freedom. Freedom from tyranny as it was described. Liberty, right? liberty to run their own lives. Whereas the British army, they were fighting for king and country. But the British Parliament was divided on the issue of how the American colonists were treated.
30:53 Um there were even some who thought uh independence for the American colonies was was probably inevitable, if not a good idea. And so they were ambivalent on military action against the colonists. After all, it was kind of a civil war. So Britain was the home country. And although a number of the colonies had been founded uh by well, New York, for example, was founded originally by the Dutch, um I think all the rest of the colonies were originally English. But uh you know despite the
31:28 fact that uh or be because of the fact that they were essentially British in character, it was more like a civil war and civil war is is always ugly. And so uh the British the the soldiers in the British army too, I think there was ambivalence there that in essence they were fighting their countrymen. the British pro just the the the average Britain uh prided himself on his freedom and liberty uh as a subject of Great
32:04 Britain. And so the idea that the American colonists were fighting for what they thought was their liberty, I think uh resonated with uh rank and file soldiers. Nonetheless, they were a disciplined fighting force and they did fight. Now, there were some desertions, I'm sure, but um but what the British were fighting for, which was the suppression of rebellion is how it was put, didn't seem quite as so compelling as fighting for freedom. And and so, you know, I was trying to think of an
32:40 example of this uh recently. It's it's it's hard frankly to I I wasn't able to come up with with you know a good example of this. Um, but I think we we can sort of sense it uh just, you know, in our gut that when we have a compelling mission in our business, something that's important to accomplish that inspires our team to to work hard, to do their best, to really focus on achieving that mission, right? It's one
33:17 of the reasons why, for example, people will will work very hard for nonprofits for free, right? They'll volunteer to work for them. Why would people do that? Well, because they believe in the mission and and and they're devoted to they devote themselves to bringing it about, right? And so that's where a clear purpose or a clear mission, a clear vision for an organization, whether it's nonprofit or forprofit, really makes a difference. Okay. And uh uh well, here here's
33:53 uh well, actually that's that one's not on point. I thought of something that happened just recently in in my practice, but actually that doesn't that doesn't core with it. So I'm going to leave that there. So uh when when people really believe in the why of a business okay they will figure out the how okay there is no doubt about it right uh look the United States military right defending our country right is a very clear purpose right and you can see when interest in the military waxes and
34:28 wanes or we can one can see that interest in the military waxes and wanes when it's clear, more clear or less clear that in fact what the military is focused on is defending our country. Right? So, uh recruitment um will u decline when it's perceived that the military is doing something other than um defending our country. Okay, so that's number four. Clear purpose inspires action. Number five, bad intel
35:04 leads to bad moves. So the big error that uh the British made is they had poor intelligence. They did not realize just how prepared the colonists were. The colonists, on the other hand, had pretty good intel, right? they were able to send riders into the countryside to alert the Minutemen to be ready for the for the British invasion basically, right? And so the the the business lesson here is
35:39 we need to be doing uh we need to be gathering intelligence all the time. This is a continual process. So we need to be doing market research. we need to be doing competitive uh competitive analysis. Okay, acting on assumptions is a costly gamble. Okay, now that isn't to say we're ever going to know the market perfectly. We're not uh and we can't afford to wait for full intel a lot of the time. So, we're going to have to
36:15 uh make our decisions best based on the best intelligence that we have available. Nonetheless, we should const consistently, not constantly consistently be gathering that intelligence and talking to people in our industry about what, you know, various things mean. So I know over the last kind of week or so, week, week and a half, uh until the last few days when it was Passover, uh when I would talk to people, I would ask them, you know, how are you how are you looking at dealing
36:50 with uh some of the market turmoil that was um the result of the you know the the whole sort of tariff situation with uh with President Trump's administration, right? And we talked about it and we we exchanged ideas. It's very important to do that. Okay. And and uh that's that's how we can gather perspectives that are different than our own. Okay. Which can be very very valuable. Right? Uh the stupidest person in the room is the person who thinks that he has all the knowledge he needs and his perspective is the only possible
37:26 way of looking at a situation. Right? So um an example of this is uh a company that you may not have ever even heard about called Quibby. So it was launched in 2020 as a mobile only streaming platform for short form kind of quick bite content. Now, it had um industry heavyweights behind it, including Jeffrey Katzenberg, uh one of the most successful people in the entertainment and media business. Um he was the number
38:01 two at the Walt Disney Company under Michael Eisner. Um and and he left Disney when when Eisner did not promote him uh or or did not advocate for him to become CEO when Michael Eisner retired or at least left the company. and Meg Whitman who was also um she was instrumental in I believe it's eBay in eBay success. So, and they raised nearly one and 3/4 billion with a B dollars pre-launch of this service. So, they really believe that people wanted a so-called premium,
38:38 you know, 10 minute shows to watch during commutes or coffee breaks or whatever. And so um they they you know raised all this money and and you know made deals with all kinds of content uh creators. Um and then they launched during COVID the COVID lockdowns. No one was commuting and as it turns out people actually wanted longer more immersive content on larger screens. So um instead
39:14 of um uh you know pivoting uh Quibby stayed with its model they refused to allow screenshots or easy social sharing. And so this drastically uh reduced the sort of word of mouth sharing potential. And worst of all, um, they decided that, you know, very high, you know, line celebrity content alone would drive demand without understanding that, especially Gen Z and millennial viewers, they wanted to discover and
39:50 engage with their media content. And so, after just six months, Quibby shut down or six months after its launch, I should say. it it it shut down. It was a colossal disaster and and the reality was that uh that that Katsenberg and Whitman and the other people involved, they just were not at all in touch with what media consumers, especially young media consumers, really wanted. Now, you could
40:27 say it was bad luck that they launched during COVID and and that that's I wouldn't disagree with you on that, but the reality is they should have been doing their market research on an ongoing basis and they should have pivoted. They certainly had the resources to do so. The fact that they didn't, that they stuck with what they were doing, they were so convinced they were right, led to their demise, right? And and and so we need to
41:02 make sure not only that we're gathering intelligence, market data, etc., but that we're analyzing it accurately. And that that means that if especially if we're not part of our targeted market group, right, we need to be talking to people who are. And we need to be talking to them in a way that we're letting them freely share with us their real thoughts, not what they think we want to hear. And this this is a this is
41:38 a a big challenge because oftentimes the way uh marketing questions and surveys are asked, they're implying a particular answer and this is deadly for getting the kind of market data and intelligence that is necessary for a business to make good decisions. Okay. So, so again, bad intel leads to bad moves. And you know, don't don't believe your own hype. Really dig down and find out what's actually going on. And then finally, uh,
42:15 number six, small actions can spark big movements. So, as I, as I started out this show, the shot heard round the world, right? The shot heard round the boardroom is the name of this episode. So, one shot set off a chain of of military conflicts that eventually led with the United States winning her independence from Great Britain. Now, you might argue, well, it, you know, it probably would have happened uh even if that that shot hadn't been fired. Well, that that
42:50 may be that may very well be the case. Okay. However, the shot was fired and it did it did start this chain reaction of events. Okay? So, a small action can have enormous repercussions. Okay? Uh and and this is especially so um early on and probably more so today with social media where things can go viral. And in fact that's uh that is an example
43:25 that that I have for this. So um if if if you may remember this this is back in January of 2017. So there was a major protest at JFK airport over a travel ban and and the uh New York Taxi Workers Alliance called for a strike in solidarity. you know, whether you agreed with the travel ban or not, that's that's a I'm not getting into the politics of that. That was just that that's what was going on. Um and the taxis refused to pick up passengers.
44:00 Okay. So, um, in order to grab market share, Uber lowered its surge pricing in the area, um, and and made it look like they were trying to, um, uh, profit off of the protest, right? And so one tweeted uh one person tweeted um Uber is crossing the picket line and then they they tweeted it delete Uber and it quickly went viral and in fact um within 48 hours over 200,000 people had deleted
44:39 the app. Um and Uber's app ranking tanked. Um and um eventually um there was all kinds of political fallouts for it. And and again um this is this is not I'm not commenting on whether the the uh um the travel ban was was was correct or not correct. That that's a question to be debated over bourbon as I sometimes say. Um but the impact on Uber um from just that one
45:14 small thing, that one small tweet was enormous. And and this this is the reality of living in a social media world is a very small thing can go viral and have a big impact uh on a company and and and even even before social media um the these things could could happen. and it's just not quite on the scale. So, small actions can spark big movements. Now, they can be negative, damaging a co a company, but they can
45:49 also be positive, right? And so, um I'm trying to think of a an example of a positive one. uh it's not coming to mind real quickly but but in any event um you know we we need to we need to be mindful of the actions that we take and the consequences of those actions. So for the shot heard round the boardroom there are six lessons just real quickly reviewing them. Underestimate at your own risk. Local knowledge beats size.
46:26 Agility wins. Clear purpose inspires action. Bad intel leads to bad moves. And finally, small actions can spark big movements. These are the lessons that we can learn from the battles of Lexington and conquered that are of which we are marking their the 250th anniversary this week. and uh and and and in a way I guess also uh saluting uh you know or heading on to salute um what will very soon be uh next
47:02 year the 250th anniversary of the United States of America. So I thank you very much for tuning in especially for my live viewers. Um good to see you Lammon. Um, and uh um uh tomorrow at 10:00 a.m. Pacific time uh is my show People Making Money and I'm going to be talking about uh Daryl Huff's how to lie with statistics. I think the episode is called the spin the spin class or a spin
47:39 class, right? Um, this is something with which we have to deal in the business world and as well as our lives in general. So, I invite you to join me tomorrow 10:00 a.m. uh Pacific for people making money. And so, once again, thank you so much for joining me today. Really appreciate you tuning in. And if you have any thoughts, comments, uh please feel free to leave them on our social media. All the links will be in the show notes uh when uh when when this show posts on YouTube. Uh, I haven't mentioned this in a while, but if you have friends, family, uh, people you
48:15 think will be interested in the show, um, please send them a link to an episode. I I'd love to be able to have them as a viewer. Would very much appreciate your help with that and and perhaps they'll become a subscriber. That would be terrific. I'd really appreciate that. Um, so if if you'd help me spread the word, um, that would be terrific. So, uh, before signing off, thanks again to, um, my sponsor, the Beverly Hills Council of the Navy League of the United States. Again, you can find out more about them at navyleague.org. And signing off as I
48:50 always do. Marie Darling, you are my bell. Courage at all times, my friends.