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  Trump In His Own Words 2007 The Big Idea With Donny Deutsch Donald Trump...  CNBC  January 12, 2017 11:00pm-12:01am EST

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the new york real estate to the hollywood walk of fame to the white house, donald trump has walked a winding path to the presidency. i'm kelly evans. tonight we're cracking open the cnbc archives to take a look at trump in his own words. one of trump's most fascinating appearances on cnbc, it took place almost ten years ago, you will hear some things that sound very recent as well as some things you might find surprising. >> tonight on the big idea, the debut interview in our new
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series, the american dream. tonight donald trump. he's teaching you to win in any negotiation. >> i want to brainwash them. i want to think that there's so much competition. >> trump candid about his enemies. >> in a way i love my enemies. did you know that rosie went to my wedding? that slob went to my wedding. can you believe it? she ate like a pig. can you believe it? >> answering any question at all. >> is there any chance you'll be a 2008 trump ticket? >> i think we have the worst president in the history. >> the american dream series, tonight on the big idea. >> welcome to big idea.
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i'm donny deutsch. the first of our series, living the american dream. the big idea as you all know is about success, getting there. we thought we'd do a sho where we go to the tippy top, the pinnacle, the men and women who more than anybody are living the american dream. we thought we would have them on to share their secrets, how they got there, lessons learned, mistakes along the way. we thought we would bring the audience into it, where you guys can ask questions. hopefully it will help you get to your american dream, whether it's fame or loving what you do. who can we start with on this series? there are a lot of titans in the country. a lot of billionaires. there was only one guy that's a skal wart. think about the american dream, doing it your way, going from scratch, taking no prisoners, building a fortune, having fun, passionate, having the toys, giving back, all the above, probably nobody embodies that more than the most famous, i
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don't want to call him a businessman anymore, but the icon, my good friend donald trump. [ applause ] >> thank you. >> good to have you here. >> nice to be here. >> look at that, huh? donald is very shy. >> true. >> so i had to kind of coax him into this. we've done a lot together. we've done business together. i was on the apprenti"apprentic few seasons. he's done my show a ton of times. obviously, he's candid, he cares and he likes to teach. that's what this is all about. we're going to get into it today. i want to kind of first start at the beginning. because a lot of people don't know about you in military school, and kind of what you learned there. we'll tee it up that way. >> i respect the military school, and i respect the military generally. i went to the military academy.
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it was a terrific school for me. i was not a well behaved person. i was very bad in a lot of ways. now, compared to the kids nowadays, i was an angel. but i was relatively not the best kid in the world. a little bit aggressive. they want to tone me down. >> a little bit aggressive. you said you gave your second-grade teacher a black eye. >> well, we had an argument. it was not a pretty situation. my father said, could this be happening with my son? >> you actually punched the teacher? >> we actually had a fight. when you get into a fight in your teacher, it's time for the military. about you in life, you have to acclimate. i have to tell you this one story. i didn't want to do this show, and donny said, donald, it's going to be only two or three minutes and we'll see how your suits are doing at macy's. and we end up with this. do you believe it? >> so how do we interestingly enough, i was trying to do a deal with you.
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i was selling. i'll tell you, you're the ultimate sales person. what you're talking about is we had the idea for the show. i said, who's better than donald. i know donald's careful about his image. he does a lot, but turns down a lot. it's what you don't do. and doing a show not looking good in business, he was doing that, so i called him up and i knew if i asked him to just do the show, he said, donny, i've done it five times, i love you, but i knew for this guy, his brand is about being number one. so if i said to him, i'm doing a new series, i'm going to get all the big names on it, the biggest names, but i need to start with you, because you are the number one guy, number one was appealing to him as a brand. now it's appealing to his competitive nature. i knew if this was going to be a thing -- and he jumped at it. is that right? >> well, actually, i didn't jump at it. i think what happened is you said you were going to come up to my office and just be there for a few minutes. i'm saying this out of respect
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for you, i'm not angry about it. and i come in and say, that's donny. >> donald and i call each other friends. we are friends. we don't socialize a lot. it starts as business friendship. and respect goes out of it. so your business relationship, they don't have to be your best friends, but there has to be trust and respect, and always a mutual what am i doing for the other guy. yes, had e's here to help me, i'm here to help him, but we're both in it. you afford so many successful, also a lot of fights, but one of the keys to success. >> you have to develop relationships. in life, you have to develop relationships. we have this kind of a relationship. and i have so many different -- one of the things i like about sports, in particular, golf, is you can develop relationships so well on the golf course. i don't think you play golf. >> no. >> i think it hurts you. you can develop relationships so well on the golf course that you
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cast anywhere else. i think that's why i've always been attracted to it. especially in high school and college. it's an attractive way to meet people. >> we all know the formality, what happens at a business meeting. obviously it's four hours, time is on your side. is there a different stylistic approach, more low-key approach you have in your head when you're going out, okay, i want to buy this guy's building. i'm here to play golf, obviously. how do you weave that in? >> the beauty is you're just not thinking about that when you're playing golf. golf is a very intensive kind of a thing. and he's not thinking about it. you're trying to get the ball in the hole. that's very good. because in terms of not hitting them all the time, not saying i want that building, and you discuss things later. but you develop the feeling there, and i could say it about tennis to a lesser extent. i know tennis. i play tennis. >> but you're not sitting there talking. >> i just had a tournament at
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mar-a-lago. but it's not like walking down the dpor jous fairways together. it's special. >> you've got a book called "the art of the deal." i was never a great negotiator. obviously i've done well, no apologies. but what are the keys -- i don't care whether you're negotiating a lease, buying a business, buying your own house, what are your keys? >> the primary key is you have to really know your subject. you have to know what you're doing. i wouldn't be a great negotiator if i was dealing with computers. i don't particularly like them. i don't find them interesting. you have to know and love your subject. if you know your subject, at least you know what you have to get. i think you probably are good. i always hate when somebody walks into my office and says, i'm a great negotiator, mr. trump. i'm such a great negotiator. make a deal with me. the guy's a loser. i love the way you started it
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off by starting off you're not a good negotiator. you're a fantastic negotiator. >> if they were a great negotiator, they would downplay it. >> it means you dream of dealing with people. >> exactly. so what are, let's say obviously when you're doing a deal, they're in a game they know also. is it -- give me the moves to understand, okay, i want to pay $50 million less than that guy is willing. he's here, i'm there, how do you get there? >> if i'm selling something or trying to win something, i always like to create competition. because it makes you feel better. and sometimes it's even a perceived competition. but the other side should know this competition. i just made a deal, a big deal, a big rental deal and i was able to convince everybody -- and it was -- but i was able to convince them at a very high level and for a very high rent
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that there was tremendous competition, that there were other people out there. i'll tell people during a negotiation, you think you're the only one? i have ten people that want this deal. and sometimes it sells and sometimes it's a little bit less than sell. but i always create competition, because it makes the other side a little bit nervous. i've had my own people come up to me and say, oh, mr. trump, don't tell them there are other people. i said, let me tell them, i want to brainwash them. know your subject, create competition, feel confident in yourself. and in a certain way, and this is a lilts bit different from what i just said, but don't oversell. because sometimes people oversell. >> i think that's a great point. if you're overselling and you're on a buy side, you go, this guy is a little too desperate. clearly i want the client's business. but i would never go in and say, we want your business so bad,
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we'll do whatever it takes. i would always go in and say, how can i help you? already i evened out the buy/sell equation. i would not be arrogant. i wanted them to feel they were going to be as lucky to be hiring me than i was to be working for them. never seem desperate. never beg. when i come in, when i'm interviewing somebody for a job, i was more impressed with somebody coming in and immediately was starting to ask me questions, you know, obviously respectfully, so donny, why do you think this is the right place for me? all of a sudden they're making themselves more appealing. if you're in the buy side of the equation, you want to even the field as much -- >> never show -- the ad business is highly competitive, really killer. the ad business is a great education. if you can make it in that world, you can make it anywhere. >> next -- >> everyone today wants to be politically correct. somebody said, you use the f word. i know two f words, there's fact
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and the worse word. actually, i didn't use the word fact to my knowledge. >> and later, in speaking to the american dream, is there any chance there will be a 2008 trump ticket? "when the ship comes in" by the hollies ♪ oh the fishes will laugh as they swim out of the path ♪ ♪ and the seagulls they'll be smilin ♪ ♪ and the rocks on the sand it's so peaceful out here. yeah.
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tadirectv now. stream all your entertainment! anywhere! anytime! can we lose the 'all'. there's no cbs and we don't have a ton of sports. anywhere, any... let's lose the 'anywhere, anytime' too. you can't download on-the-go, there's no dvr, yada yada yada. stream some stuff! somewhere! sometimes! you totally nailed that buddy. simple. don't let directv now limit your entertainment. only xfinity gives you more to stream to any screen. i want to you, donald, about yu energy. when i mean that, i say this
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respectfully. you're somebody that loves a good fight. whether it's the old days, whether it's the more recent city stuff with rosie o'donnell. tell me about fighting in business and how that inspires you. >> in a way i love my enemies. i go after them with vigor. sometimes i'm criticized because i go after them too strongly. but i love my enemies. and i love having enemies to a certain extent. >> why? >> that's probably a mental sickness, to be honest with you. but you need it. it invigorates. you mentioned a few names. ed koch was a great mayor for a few years. and then he became a terrible mayor. he became a nasty horrible person that people disliked. mario cuomo i think was the worst governor in the history of the state of new york. his son is doing a good job. and his son i respect. but har yo cuomo was a terrible governor. and i would say that. and it would infuriate them. and i was telling the truth. and rosie o'donnell, i called
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her de jen rat. she's a bad person. i would say that, and fox and everybody does polls, and it showed 91% in my favor, nobody liked her. her show went off the air and she went like she's some wonderful person. the fact is you can only take her in small doses. >> i was watching the rosie thing, and i don't know rosie personally. i actually respect what she's done. >> why respect? she's a nasty person. >> i don't know her personally. but to me, i thought that was great for both of your brands. because what that did for you, and you're about the only person in america who can get away calling a woman fat, saying -- >> i'll send one of her friends to pick up a girlfriend. >> they would take me off the air and did that. if i said rosie o'donnell is fat, she's a lesbian, i would be off the air. the reason you got away with
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that is your brand is pugnaciousness and take no prisoners. so is her brand. so you are the perfect mates. i think in a strange way, you weren't being a bully there because you knew she was in certain ways was a mirror image of you. >> please don't say she's a mirror image of me. that might be the worst compliment -- >> no, think about what they have in common. they don't like each other. they love the fact that they tick people off. they beat to their own drummer. they go their own way. and they're very polarizing. and they both have kind of funky hair. so it's very interesting. i don't think you would have done that with anybody else. >> a couple of weeks before i saw her rip off kelly ripa. it was terrible. >> that was wrong. >> she was totally wrong. she does the whole big thing --
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the guy never came out and said he was gay. she was totally wrong. >> by the way, what she did to him and her was bad. what she did to kelly was terrible. i saw years ago what she did to tom selleck. >> we agree. assault weapons are not good. >> i can't speak for the -- >> but you're a spokesperson -- >> i'm not a spokesperson -- don't put words in my mouth. now you're questioning my humanity. >> not your humanity. i'm saying that if you say -- >> i disagree with you but i think you're being stupid. >> you say you can't take responsibility for anything the nra represents. >> they're talking about a movie. all of a sudden he ends up in a big fight with her over guns. i didn't like the way he handled it. i think he happens to be a very nice guy, but he got blindsided. i saw what happened to danny devito. and he was really good on "the view." all of a sudden they're calling
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him an alcoholic and everything else. i've had experience watching it. plus i know rosie. do you know she went to my wedding? this is a first. >> i didn't know that. >> that slob went to my wedding. she ate like a pig. it was disgusting. so it was terrible. she wiped out the whole wedding cake. >> wait a minute -- >> wait. so i know her. the fact that i knew something about her, then when she attacked me, a lot of times i do let things go by. i get attacked by a lot and i get praised by lot. and i watched -- nobody else fought back. one thing, and maybe this is the best lesson of all, when you have a bully, if there's a bully, and she's a bully, when you have a bully, i learned a long time ago you hit the bully between the eyes and you hit really hard and really fast. the other day -- she doesn't want to get involved anymore because a bully is basically afraid. a person who's afraid. hit a bully hard, folks, really
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hard. >> why now? somebody watching at home and they say, you went on and you said she was at my wedding, i can't stand her, i hate what she stands for. why do you throw in the part she's a pig? that's what people who are against you saying, say she's a bully and you can't stand her. >> i'm honest. that's me. excuse me. i went onto a show and they said, mr. trump, you called her crude. i said, no, i didn't, i called her a de jen rat. the "today" show. it was meredith, you called her crude. no, i said much worse. crude i would use. that's not strong enough. the fact is, she is crude. the fact is, she is all of the things i said. and one of the reasons it became the number one story on the internet and all over the place, is people don't hear this. somebody said you use the f word. i know two f words, fact and a
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much worse word. actually, i didn't use the word fact. now, there's chuckles here. people will say pig. man, that would be like her calling you -- i said she's very unattractive. somebody said, you called her unattractive. is she attractive? and the announcer said, i'd rather not answer that. i said, answer me, is she attractive? >> why bring looks into it? >> because looks are part of the whole deal. looks are part of the deal. >> looks matter, we'll talk about that later. it was two schoolyard bullies going at it. we're going to move on. i think you're both great. i look forward to continuing talks about that. >> here's what i don't like. i like a friend who sticks up for his friends. i don't like a friend that takes a middle position and he doesn't want to be attacked by the slob.
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no, no, you don't want to be attacked by the slob. wait a minute. so instead of saying, donald, i love you, you're my guy, i'm with you, you're saying, i like both of them. you're taking the middle. because he's losing the edge. >> by the way, it would be better for my show if i said i'll be the second guy to come out and say rosie's a slob. >> you know what -- what i said is, i respect the things she did. i don't know her personally. you are my guy. >> what do you respect about her? what do you respect about her? do you respect her lifestyle? >> i respect her for being gay and came out. that's a hard decision to make. >> she's lucky to have a pretty girlfriend. and if she wasn't famous, she wouldn't have that pretty girlfriend. what i'm saying in this case, i'm honest. i respect that she does her own thing. she goes her own way. i have not met her. what she stands for.
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you are my friend. but i have to stand up for my principles. >> you're taking the safe route. >> i take the route i believe in. >> good. >> all right. we're going to move on. >> okay. next -- >> what are the rules of selling yourself? >> very simple. you have to have the goods. if you don't have the goods, it doesn't work. i'll have that goat cheese garden salad. that gentleman got the last one. sir, you give me that salad and i will pay for your movie
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and one snack box. can i keep the walnuts? sold. but i get to pick your movie. can i pick the genre? yes, but it has to be a comedy. a little cash back on the side. with the blue cash everyday card from american express, you get cash back on purchases with no annual fee. throw. it's more than cash back. it's backed by the service and security of american express. ...one of many pieces in my life. it's more than cash back. so when my asthma symptoms kept coming back on my long-term control medicine. i talked to my doctor and found a missing piece
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it's beautiful. was it a hard place to get to? (laughs) it wasn't too bad. with the chase mobile app, jimmy chin can master depositing his hard earned checks in a snap. easy to use chase technology for whatever you're trying to master. let's talk about the media. because you better than anybody have probably used the media bravely. what's the secret, somebody says they're starting a business, they want to do their thing. how do i get that press? you get the great press. how do you get the press? >> there are no secrets to the media. the media is devious. they're horrendous. they're horrible.
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i know some great reporters, brilliant reporters, some people like bill cotter at "the new york times" who i think is a great reporter. i know some people who are hobible. i really think when they write incorrect stories, really incorrect and knowingly incorrect, you should sue that writer and that newspaper or that book publisher or whaef. because if you don't, they won't respect you. if you don't, they'll keep writing falsities. you should go out and sue. the libelists are not as bad as you think. but the media, i've had writers tell me that, yes, they wrote a story a certain way, yes, they knew it was wrong, but it wouldn't have been a good story if they wrote it the other way. but i say -- >> they actually say that to you? >> i've had five guys say that over the years. the media and writers and reporters, many of them, very are very bad people. some are very good people. but many of them are very, very dishonest people. it's amazing to me.
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because the people read the newspapers and -- >> they don't deal with them. >> what amazes me is one of the lowest groups on the totem pole in materials of the respect of the public is reporters, the press. the people don't have great respect for the press. look, judith miller she was a disaster what she did. what she did in "the new york times" and the way she went about it, then they put her -- everyone feels, the poor woman. what she did was a disaster. you look at some of these reporters that came out of "the new york times," these people are disasters. they were totally dishonest people. and sometimes they're found out and sometimes they're not. what really impresses me is the public is wiser. >> when you are doing a new project because i want to bring it back to starting a business. you have a new building coming up. your name is on it. give me kind of the thought process where you go, okay, here's where i'm going to hype
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that building. a lot of buildings in manhattan, what goes through your mind -- >> i'm building a new building in soho. it will be a fantastic building. it will be something very special. in that case we're using ivanka, she's really the face of the building. >> good move. >> i want to be young, i want to be hip. but it's passing me by. donny will tell you, i'm not an easy interview to get. i just told him i turned down this one, that one. because otherwise i couldn't do it. i can do interviews all the time. if you get ratings, they want to interview. so i'm coming down, and i said i thought this was going to be a simple little interview. i said something on the elevator which is pertinent to your question. i get a free one-hour xhegs. think of it. that's not an insult. you've got a show that's really good. he's got a show that's really popular. people watch this show.
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i get interviewed on monster shows, and nobody tells me anything. i get interviewed on his show and the people call me up the next day and say you were good on donny, or you were bad on donny, or whatever. i'm doing a deal, i'm at a closing, 25 lawyers around the conference table and here i am sitting here. one of the reasons i'm here -- as i'm coming down in the elevator i said to a whole group of people surrounding me, let's look at it like a one-hour commercial. now, if i bought time on his show, i'd have a 30-second spot. it would cost a lot of money. and basically nobody would listen because they go to the refrigerator during the commercials. >> there's no credibility. >> it's not the worst thing. i'm on the show. i'm telling everybody how great i am. i'm talking about soho, trump spl, it's good when you think about it. >> and i thank you.
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i've been called a bragert before. i'm never shy. i believe you tell somebody, it's not insecurity, if you don't believe in yourself, nobody's going to. what are the rules of selling yourself? >> the simple key, very simple. you have to have the goods. if you don't have the goods, it doesn't work. >> we're going to take a break. when we come back we'll open up the questions to the fantastic audience. we'll answer any questions about success. the donald tonight, living the dream. habenera (from carmen) by andre rieu -- classical rendition habenera (from carmen) by andre rieu -- beat rendition habenera (from carmen) by andre rieu -- classical rendition habenera (from carmen) by andre rieu -- beat rendition when you see beautiful design... do beautiful work... you see what delta can do.
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you're watching ab encower presentation of the big idea the american dream series. a 2007 special pulled from the cnbc archives as we look back on trump on his own words and his own path from tycoon to president. now back to big idea, american dream. >> a lot of people watch the show. they say, okay, you have successful people on. now a guy gets from $1 billion to $2 billion. from ten stores to 12 stores starting out. i want to go back to you, your first deal, you're in college and your first deal working with your dad. that's the toughest hump, that first one. >> i think so. i went to the wharton school of finance which is the best business school in my opinion. it was a great experience for me. i say this with great respect for wharton, it's not so much what they taught me, what i learned, but i was dealing with the smartest people. people i'm dealing with today.
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and i was a good student. and it taught me that i could compete very, very successfully, at least at that level with the best people. and the smartest people. and the people that i'd be ultimately seeing in my life. wharton was a great experience. while i was going to wharton, i did little things in philadelphia like fix up townhouses and sell them. at that time the numbers were so low -- >> how did you know, for instance, a junior in college at the university of cincinnati, wherever they are, how do you kind of say, okay, i know that townhouse there, on the market for this, i know if i put in 40 grand, i can flip it. what caught your eye? >> i think you have an instinct for it and a certain knowledge for it. i grew up in a real estate family. my father was a great real estate man in brooklyn. he understood pricing and how to build. i did have that -- somebody said, how did your father help you the most? i would say in two ways. number one, i would hear him negotiate. from the time i'm 2. it wasn't like he was teaching me but i would be listening.
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and number two, he really enjoyed his life. i watched a man who didn't take vacations. if he was building a building in brooklyn he would go there saturday and sunday and work in the building. he would watch and push and do all the things you have to do. and other people would be at the beach. at the same time my father was happier than other people. he had a great marriage. he was married for 63 years, which is something you and i haven't been able to -- >> my parents have been married for 54 years. i don't get it. >> i'm in the process and you will be in the process, i'm sure. we'll never top those years, right? no matter what. we don't have enough years left. >> definitely not. >> they'll always top us in that respect. but he taught me how to be happy. and, you know, he was happy because he worked. >> everybody i talk to, very successful people, are very open about their mistakes. their failures. that's kind of how you get there. don't ever be afraid of your failures. your biggest mistake, i cannot
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believe i did that? >> i will say this. i don't like to say mistake. i don't even like to admit to say i make a mistake to tell you the truth. the power of positive. i consider everything a learning experience. you can never let the mistake be bigger than the company. you can't ever bet the whole ranch. i deal with, like donny, i deal with the biggest people in the world, friends of mine, enemies of mine, i know them very well. in many cases they are enemies of mine. but they're friends. i can tell you three or four horrible deals of big names. you can tell me about the guy we just read about in the "wall street journal" that made such a great deal, or made a deal. maybe in five years that deal is going to be a disaster. all of a sudden, a little depression and it's a bad deal. name any deal maker and i'll tell you four or five deals, or two deals that were total catastrophes.
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that were totally bad. so i don't like to say i made mistakes because here i am. i'm better than i ever was. >> but don't you think -- you call them learning experiences. i know the things in my life that i screwed up on i learned the most from. success is -- you learn from the hard knocks. so it's called a learning experience. i guarantee you the one or two things you missed on is how you somehow later on turned into your biggest deals. >> the biggest mistakes i've made is not buying enough. a good friend of mine, steve roth, a great guy, and he said, anybody that didn't buy over the last five or six years made a mistake. and it's true. so some of the biggest mistakes i made, i thought the price was 2% too high. and i'm not going to pay it. a year later -- likewise, i bought a lot of stuff and it's a worth a lot more money than what i paid. but the fact is it's gone up a
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lot. the biggest mistake i made is not -- some of the luckiest deals i've ever made are things that didn't happen. there are a couple of deals, i was going to buy this huge newspaper. it would have been a total catastrophe. this is ten years ago. it would have been a total catastrophe. because it's a rough business. it's a down business. you see the "boston globe," it sells for less than half. lots of other things. so i was going to make a deal to buy it. i was so psyched. i got lucky. the deal was done. and i never had the flu before. i had the flu. i caught the flu. i felt not good. when you don't feel good, i realized it then. knock on wood, but i haven't felt sick sense. this was ten years ago. i had the flu. and i was supposed to go to a closing. and i was sick. and you know what, i said, oh, the last thing i want to think about was the deal. when you don't feel good, you don't want to make a deal. it doesn't make any difference, who cares.
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i decided i just wasn't going to go. and they sold it to somebody else. i got very lucky. it turned out to be -- for somebody else it turned out to be a catastrophe. two days before that i was the most psyched guy. i was calling people for references anding else. so sometimes you get lucky. i got very lucky. i would have lost a tremendous amount of money had that newspaper deal happened. >> does luck happen? >> luck happens. some people are luckier than others and there's nothing much we can do about it. but with hard work you can help alleviate that problem. some people are luckier than others. >> we're going to take a break. it's our living the american dream series with donald. >> speaking of the american dream, is there any chance there's going to be a 2008 trump ticket like the one in 2004? americans - 83% try to eat healthy.
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let's do more. add one a day men's complete with key nutrients we may need. plus heart-health support with b vitamins. one a day men's in gummies and tablets. we're back on the big idea with our living the american dream series. premier episode, of course, with the donald. getting there, how you get there, and obviously this man as much as anybody in this world is living the american dream. i want to open it up to questions to you folks. a fantastic audience so far. who's got a question? yes, sir? >> good afternoon, gentlemen. in speaking of the american dream, is there any chance that there's going to be a 2008 trump ticket like there was in 2004? >> there really isn't. but i will say that we are right now in the midst of a horrendous situation with our president.
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i think we have the worst president in the history of this country. we have a country that's lost respect all throughout the world. we have a real problem. this man should be impeached. they have to get him out of office as quickly as possible. he is a complete disaster. i hope you agree -- he will go down without question as the worst president this country has ever had. to me, no question about that. i want the camera on this young man. this is a guy who had a very, very successful huge corporate father. certainly did not have to go over the wall. served time in iraq, got injured, his back. this is the ultimate american dream right there. let's get a round of applause for him. [ applause ] >> my name is ashley. and i'm an mba student at stearn. leeann and i have our own business with our own business. we had a lot of success over the last two years. to this point we've been growing
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it, reinvesting our profits. aside from our startup capital. we reached a point we really need to inject a substantial amount of capital into the business. and my question to those of you is in your opinion, what is the best way to go about getting that capital? is it through a bank loan, through selling part of the business to an investor? there are pros and cons to both -- >> it all depends on your mind-set. there's so much money around. remember this about money, they want to give you money much more than you need it. if you have a good business, you go interview a hundred different firms, you'll be able to get the money. i like to borrow money rather than equity money. so i think you should probably borrow the moneys opposed to the equity thing. but there's tremendous amounts of money out there right now. my advice is also whatever you do, whatever route you go, you keep control. if you've got a hot young thing, two years into it, you love what you do, right? if you bring people in, and they have complete -- or they have 1 51, all they care about is the
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cashout. you want the right capital to build your business. you keep control. yes, sir? >> my name is nana, an mba candidate at columbia business school. prior to coming to business school i worked for six years in california. saw a lot of companies go down due to the shaky economy. i know you experienced a similar situation in the early '90s. i want to hear your advice to those of us who will learn -- >> i think experiencing that is really great. you know, when you learned that you can survive, in the early '90s, the real estate markets crashed, i had many friends who went bankrupt, i never went bankrupt but i with ept to work and i learned i can handle pressure. when you learn you can handle pressure, you'll be successful. given that you have the talent and brains and things you obviously have to have. you don't want to do it too often, but going through bad
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times can really be a blessing in disguise. >> donald touched on this earlier about disaster. you can run a business, and if you're smart, never put armageddon on the line. there are only two things that put you out of business, being a big shot. say i'm growing so fast, i'll take another 100 square feet. that could put you under. or one client owns more than 50% of your business. if you run your business and say no matter what i'm making, am i ever betting the farm, and if you're not, you never will. you touched on that. >> a hundred%. >> eddie gonzalez. about the "apprentice," it's pretty much revolutioned marketers in the television show. do you see a trend among other television shows to go more into the actual programming of the
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show and less out of the commercials? >> one of the things the "apprentice" was one of the most profitable shows on television is the fact that we were able to take general motors and lexus and so many great companies, procter & gamble and put them into the show. >> we're standing at rodeo drive in beverly hills. next to me are two wonderful executives with lexus. what is the task that you would like these to very talented teams to do? >> your task for today is to create a special owner experience for a group of our preferred guests to introduce our new flagship sedan, the lexus 460. >> they get an hour instead of a few minutes. i don't know if that's good for television. i can tell you it's good for viewers and certainly good for those companies. i think you're going to see a trend more and more. you know, some shows it doesn't work. it just worked for the "apprentice." i think more and more shows are trying to do that. >> everybody talks about the 30-second commercial is dead. there is a tripod that will
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always exist. people selling beer, people drinking beer, and somehow somebody delivering you that message. so whether it's embedded within the shows, whether it becomes the shows themselves, it's not going away. it will be called something different. it's a fact of life. television is not free. otherwise you're going to be paying for television. you're going to pay $1,000 a month to just watch the "apprentice." everything always goes up and everything always goes down. so at some point it will go down. bad things will happen. i don't even want to mention it. but you know what i'm talking about. americans - 83% try to eat healthy. yet up 90% fall short in getting key nutrients from food alone. let's do more. add one a day women's complete with key nutrients we may need. plus it supports bone health with calcium and vitamin d. one a day women's in gummies and tablets. remember when you said men are supeyeah...ivers? yeah, then how'd i get this...
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...allstate safe driving bonus check? ...only allstate sends you a bonus check for every six months you're accident free. silence. it's good to be in, good hands.
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yet up 90% fall short in getting key nutrients from food alone. let's do more. add one a day women's complete with key nutrients we may need. plus it supports bone health with calcium and vitamin d. one a day women's in gummies and tablets.
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we're back on the big ideas for living the american dream series on the premiere episode with, of course, the donald.
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i want to open it up to questions to you folks. a fantastic audience. who's got a question? yes, sir? >> my name is cole. my question is specific to real estate. the market has had a downturn, the real estate market, where in new york they've been increasing-the last few months. my specific question is, the banking industry in the last couple of years has the strongest years ever. do you see a downturn in new york real estate if the financial markets were to ever drop? >> i always see a downturn in everything. it's a question of when. i've had friends who predicted the downtrend of new york real estate 15 years ago. everything always goes up, and everything always goes down. at some point it will go down. bad things will happen. you know what i'm talking about. bad things can happen. when that happens, it goes down. but new york has been very, very solid.
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other places, los angeles, other places, chicago, doing a building that's been very good, but other places have not been good. i think new york will continue to be solid. but it will always go down. something bad will happen and there will be a day when it goes down. yes, sir? >> the gentleman from columbia business school. exclusive real estate, to mainstream consumer products, what's the common secret sauce that makes, i guess it appealing to all these different areas? and what sorts of brands would the trump brand not do well on? >> that's a great question actually. very interesting question. i sell -- it's interesting because i'm seeing donny as the water, and he disagreed with the label. he said you should use blue. i said, donny, if you go to the grocery store, everybody else uses blue. so it sort of works. i sell the most -- i sell $50 million apartments and i sell
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water. and i sell shirts and certain things. i don't know what i can tell you that i turned down many, many ideas. because if you oversaturate and if you start doing the wrong thing, but the theory should work on most of everything on anything. >> i'll answer it another way as his branding partner. what the trump brand is, and why it adds value to everything, it's best of class. most affluent, moss sophisticated. obviously when he puts it on a suit line, it goes through the roof. when he puts it on anything aspirational, if he ef did a trump car, i always busted his chops about the water. i bet out of the hundreds of things that you do, people know the water. the other day if you see this on a suit, i'll bet that's the best thread count. this brand can work anywhere when you want to have a best in class. this is one of the few categories that --
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>> do you believe that? >> that water is the finest water you could ever -- that's what makes it work. don't we're going to tee it off, give it to my friend. in the final minute, it's speaking trump. >> i would much rather listen to you. the fact is, i feel young. i really do. i've had a wonderful life. but i'm not so young. and i've experienced a lot and seen a lot. in terms of success, i'm always seen the most successful people are the people who really understand their subject and product. and really love what they do. another quality. never, ever quit or give up. these are the qualities that i've seen in really successful people. the biggest people, the people you read about all the time. never give up. love what you do. know your product. >> you heard it from the master. that's it for tonight, living the dream. say why not me. we'll see you next time. [ applause ]
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thanks for watching our encower presentation of the big idea, american dream series, featuring a pre-presidency donald trump. it's fair to say donald trump the businessman seems to share a lot of the same views with donald trump the 45th president of the united states. i'm kelly evans. good night. check out the stylin' mega-mansion of famous fashion designers that could start a big-bucks bidding war. >> we've actually had two of the top 10 billionaires in los angeles come and see this house. >> get down in the $1.5 million personal submarine. >> super-yacht owners -- they all need two or three of these. >> it's pretty in pink and pricey, too. >> to have this size in a pure pink is almost unheard of. >> so is the more than $25 million price tag. take an unprecedented peek inside the top-secret garage where a swedish supercar maker