Transcript

Asking Politicians How They Got So Rich!

From School of Hard Knocks · Episode page · Watch on YouTube

· 23 min · 6,178 words · 42 timestamped sections

This is the full, timestamped transcript of "Asking Politicians How They Got So Rich!", an episode of School of Hard Knocks published June 2, 2025 (23 min, about 6,178 words). It mentions 15 people, works and ideas, including Mike Collins, Byron Donalds, Politics, Small Business, American Dream.

What this episode is about

The main topic focuses on probing politicians about their wealth accumulation and financial success, both prior to and during their political careers. The content highlights direct interactions with various members of Congress, questioning their motivations for entering politics and the nature of wealth in the political sphere, suggesting a broader inquiry into what insights government figures might have concerning wealth that the public lacks.

Key takeaways

  • In politics, wealth often meets secrecy; uncovering financial truths can make you a savvy voter.
  • Community banks are disappearing faster than promises in Congress—farewell local knowledge, hello corporate uniformity.
  • Politics may be messy, but power players know it’s the gamechanger for wealth, not just public service.
  • Generational wealth isn't just born; it's often cultivated in the backrooms of Congress—ask the right questions.
  • Hard work is the universal advice, but who really benefits from that grind? The wealthy or the wannabe?

Who speaks in this episode?

What is discussed, and when

  1. – 5:00: Mike Collins, Politics, Community Banks, Byron Donalds
  2. – 10:00: Politics, Mike Collins, American Dream, Gregory Meeks
  3. – 15:00: Politics, Gregory Meeks
  4. – 20:00: Politics, Byron Donalds, Fiscal Constraint, American Dream
  5. – 23:17: Byron Donalds, Politics, Cracker Barrel

Notable quotes from "Asking Politicians How They Got So Rich!"

  • Deal. I'm a member of Congress. You're a member of Congress? Yes. Are you serious? 100%. What's your name? Byron Donald. Why did you want to become a member of Congress? Cuz…
    about Byron Donalds · at
  • Quick. So, I have the biggest business media channel in the world with 14 million followers. I've interviewed Shaquille O'Neal, Mark Cuban, the CEO of Nike. Could we get 30…
    about Mark Cuban · at
  • Pause for a quick second. No, I've got to catch you. I got you. So, what was that business that you started? I was in the trucking business. Still am.
    about Mike Collins · at
  • What's an economic truth that most politicians are afraid to admit? The fact that free market works. The free marketplace is beyond unbelievable.
    about Free Market · at
  • Pay the bus fair. That's not the American dream, though. No. No, it's not. So, you've got to stand up for small business. You got to stand up for the free market. So at your…
    about Small Business · at
  • That they believe in God but really how do you kind of leverage and use that in your daily life I think about what I'm doing and I think about the Bible. Look at for example…
    about Gregory Meeks · at
  • Things back so that the United States of America is the promise that it always has been that shining beacon that American dream is still possible. Thank you, sir. I appreciate…
    about American Dream · at
  • I was a waiter at Cracker Barrel in college and table I was waiting on was this revival. Bunch of ladies from a revival in the pastor. And I asked them to pray over my life and they did. and I.
    about Cracker Barrel · at

Who and what is mentioned in this episode?

People

  • Mike Collins — Person · Interviewee (featured politician/entrepreneur) · 4 mentions · first at
    He is interviewed as a U.S. Representative and trucking entrepreneur, sharing views on free markets, small business, faith, and community banking.
  • Byron Donalds — Person · Interviewee (featured politician) · 4 mentions · first at
    He discusses his finance background, debt and fiscal issues, ethics of congressional trading, faith, and his political ambitions (running for governor of Florida).
  • Gregory Meeks — Person · Interviewee (featured politician) · 2 mentions · first at
    He provides advice on purpose, self-belief, education, and faith, referencing civil rights history and Dr. Martin Luther King Jr.
  • Donald Trump — Person · Referenced political figure · 1 mention · first at
    He is referenced as aligned with free-market beliefs and as a benchmark for business conditions compared to the Biden administration.
    Yes. And President Trump knows that. And the other fact that President Trump knows is that we need small businesses.
  • Mark Cuban — Person · Referenced celebrity entrepreneur interviewee · 2 mentions · first at
    Used by the host as social proof of interviewing high-profile business figures to justify the channel’s mission.
  • Shaquille O'Neal — Person · Referenced celebrity interviewee · 2 mentions · first at
    The host cites interviewing him to establish credibility and persuade politicians to stop for interviews.
    Quick. So, I have the biggest business media channel in the world with 14 million followers. I've interviewed Shaquille O'Neal, Mark Cuban, the CEO of Nike. Could we get 30…

Companies & orgs

  • Cracker Barrel — Company · Referenced workplace/location of conversion story · 1 mention · first at
    Byron Donalds describes working there as a waiter when he gave his life to Christ in the parking lot, marking a turning point.

Concepts & topics

  • Politics — Concept · Core topic · 12 mentions · first at
    The episode centers on why people enter politics, how power works in DC, and the tension between public service and personal enrichment.
    Member of Congress? Cuz you didn't have to. You had a business and politics is a nasty game for people. it's hugely nasty. Well, you say politics is a nasty game, but politics…
  • Small Business — Concept · Core topic · 3 mentions · first at
    Small business is presented as essential to the economy and the American Dream, with concerns about financing and government burden.
  • American Dream — Concept · Core topic · 2 mentions · first at
    Speakers argue that homeownership and opportunity are central to the American Dream and warn it is becoming harder due to fiscal and policy choices.
  • Trucking Business — Concept · Key biographical/business topic · 2 mentions · first at
    Mike Collins’ wealth-building story centers on starting with one truck and scaling to over 100, emphasizing service and work ethic.
    The trucking business. Started one truck. We run over a hundred today. I also have a brokerage company. How did you buy your first truck? How did you get the money to buy your first truck?
  • Community Banks — Concept · Core economic/finance topic · 2 mentions · first at
    Mike Collins credits a community bank for enabling his first truck purchase and argues consolidation harms entrepreneurs.
    Government has been on a tear to get rid of all the community banks and just consolidate down to the point where one day you're just going to be dealing with a government bank.…
  • Free Market — Concept · Core topic · 2 mentions · first at
    Mike Collins frames the free market as an 'economic truth' politicians avoid, tying it to incentives and entrepreneurship.
  • Fiscal Constraint — Concept · Core policy concept · 2 mentions · first at
    A Montana representative links fiscal constraint to restoring opportunity and keeping the American Dream attainable.
    American dream. And we need to fight back. And I think a big part of that is just fiscal constraint, starting to rain things back so that the United States of America is the…
  • Government Healthcare — Concept · Referenced policy concept · 1 mention · first at
    Mike Collins uses it as an example of government dependence he argues is contrary to American values and self-reliance.
    Want you to ride on mass transit. They don't want you to have your own healthcare. They want you to have government healthcare. They want everything you do for you to look for…

Full transcript with timestamps

Excuse me, sir. Sir, question for you. How old were you when you made your first million? My million? Yes, sir. That's uh that's that's personal. I haven't made my million. You need to talk to him right here, sir. Real quick. Real quick, sir. What do you do for a living out here in Washington, DC? I work in this building. Capital? Yeah. In the capital building. What do you do? I'm a member of the United States Congress. I represent the 10th district of Georgia. Are you a representative? That's incred. What's your name? Mike.

I'm Mike Collins. Mike Collins. Yeah. The uh the Lake and Riley Act was my deal. I'm a member of Congress. You're a member of Congress? Yes. Are you serious? 100%. What's your name? Byron Donald. Why did you want to become a member of Congress? Cuz you didn't have to. You had you had a business and politics is a nasty game for people. You know, it's hugely nasty. Well, you say politics is a nasty game, but politics is how you change things. I got into politics because people died for me to have the right to be here. You've seen some people get real rich off of politics. Former Speaker Pelosi has has done quite well in the stock market.

People don't know why. What was your first moment in Washington DC when you were like, "Oh, this is how this really works." Oh, man. And that was uh probably our third day here. Yeah. Yeah. What happened? Well, so actually guys, I'm in Washington DC for the first time ever to do interviews. And today I'm going to be going around Capitol Hill and DC to find and interview politicians to figure out how they became wealthy before and maybe even after politics and what the government knows that we don't. So stay tuned from start to finish because this video is about to be insane. But let's get this thing on the way. Come on.

Excuse me, sir. How old were you when you made your first million? I don't know. Sorry, we don't have time for real quick. So, I have the biggest business media channel in the world with 14 million followers. I've interviewed Shaquille O'Neal, Mark Cuban, the CEO of Nike. Could we get 30 seconds with you for the channel to help inspire the younger generation? Just career advice. Who you guys with? The school of hard knocks. I started the biggest business media channel in the entire world. We grew up with the 14. We got to run to a meeting. All right, real quick. Are you an entrepreneur? We got to run to a meeting. All right, brother. Have a good one. Thank you. Excuse me, guys. Hey there. Question for you. Who is the richest person here? Oh, man. Good question. So, you're talking financially? Financially, are you talking financially? Just in life?

Financially? Any business owners here? No. What did you guys do? I'm not up to this right now, though. Excuse me, sir. How old were you when you made your first million? No, I'm good. What line of business were you in? What was I in? Am I in? What do you do for a living? What is that? It's a mic. So, so I started the biggest business media channel in the entire world. I go all over the world to get advice for the younger generation. Career mentorship advice from people that have been there before. What do you do for a living?

Have a good one, guys. Have a good one. So, as you guys can see, since we're in Washington DC, outside of the capital it is very hard to get these people to stop and do interviews. They're coming and going from meeting to meeting, and these people do not want to give it away. But as you know, I'm not going to stop until I get a million dollars worth of game from these politicians to figure out what they did to build their wealth before and even after politics just for you guys. Come on. Excuse me, sir. Sir question for you. How old were you when you made your first million? My million?

Yes, sir. So, I started the biggest business media channel in the world out of Austin, Texas to help inspire the younger generation. Could I get one minute with you on some advice for the younger generation? I haven't made my million. You need to talk to him right here, sir. Real quick. Real quick, sir. So, thank you. So, so sir, so I go all over the world interviewing successful entrepreneurs, people that made it for the younger generation. What did you do to become wealthy? Well, I started my first business when I was 20 years old.

Pause for a quick second. No, I've got to catch you. I got you. So, what what was that business that you started? I was in the trucking business. Still am. The trucking business. Started one truck. We run over a hundred today. I also have a brokerage company. How did you buy your first truck? How did you get the money to buy your first truck? You know what? I went to my community bank. Small community bank. What was that conversation like with the bank? How'd you get the money to buy that truck? Well, it's because the people back then, community banks knew their customer. They knew the people because they were part of the community. Yeah. I mean, that's the people you saw on the signs at the baseball fields or grilling the hamburgers. And that's been a huge problem because community banks have been decimated. And uh the federal government has been on a tear to get rid of all the community banks and just

consolidate down to the point where one day you're just going to be dealing with a government bank. And when we get to that point, you're going to be in trouble. But I tell all young people man, you know, if if you have an idea or you want to do something, the best thing you can do is work hard. Work every day. Work your ass off. Work your ass off. So, what are you doing in DC? I represent the 10th district of Georgia. Are you a representative? In the US level? Yeah. That's incredible. What's your name? Mike. I'm Mike Collins. Mike Collins. So, yeah. The uh the Lake and Riley Act was my bill, actually. So what's an economic truth that most politicians are afraid to admit? The fact that free market works. The free marketplace is beyond unbelievable.

Yes. And President Trump knows that. And the other fact that President Trump knows is that we need small businesses. The small business needs big business. Yeah. But without the small business and the ability to to be an entrepreneur, to start from the ground up and work your way up, work your ass off to get there. You know, people really don't have an incentive. You think about what the Obama administration with the Biden administration, both of them tried to accomplish. I mean, inflation went through the roof. They didn't want you owning a house. They don't want young people owning homes. They want you renting apartments. Hell, they don't even really want you owning an EV. They want you to ride on mass transit. They don't want you to have your own healthcare. They want you to have government healthcare. They want everything you do for you to look for the government for the answer. And and

that's not America. That's not in God we trust. We look to God for those answers. But if they feel like that they can get you into that position, all you work for is enough money to get by, pay the rent pay the bus fair. That's not the American dream, though. No. No, it's not. So, you've got to stand up for small business. You got to stand up for the free market. So at your business in terms of revenue, what's the most amount of money you made in a single year? We're somewhere between the 20 and 50 million. I'll put it that way. So you're big millions. We've been very fortunate.

How did you scale? I was willing to take the chance. You took some risks. Yeah. 99% of people won't take the risk. They just won't do it. Why did you want to become a member of Congress? Cuz you didn't have to. You had you had a business and politics is a nasty game for people, you know. Oh, it's hugely nasty. Is there a lot of corruption? Yeah. I don't know about the corruption so I really don't know. People ask me that all the time. I I don't I don't go for that, so I don't know. But I knew I could take my experience up here. I could serve the people, not just the 10th district, not just of Georgia, but the whole country and try to get us back to where we were. Plus, I was in business during the Trump administration, the first one. We still are. I mean, I know what it felt like under Biden, too. But I also know what it felt like to win during Trump. I've been in business since George H. W.

Bush, so I've been through them all. Do you believe in God? Oh, yeah. Has faith been important for you? Yeah. Huge. How so? Hu. Well, I mean, think about it man. You You're going to have things happen in your life, good or bad, and if you don't have that rock to lean on, I don't know what you're going to lean on. There's things that's happened to me up here. I don't I can't explain it. But hey, I know where it came from. So, you see miracles happening. Oh, yeah. Yeah. I see things happen in my life that that I'm like, dude, I don't I don't know how that happened to me, but I was here and I was in the right place and the good Lord opened the door. He opened the door, you walked through it. The trucking business is competitive. What did you do to stand out? The number one thing you do, service. Work your tail off. Beyond that though, cuz you can work hard and still work at a fast food restaurant. Beyond the hard work, what's

something? People noticed that though. They noticed that. I had people calling me asking me because maybe we weren't the biggest. We weren't. But when you deliver and you do what you say you're going to do, even if things happen and you compensate and you push things around, you could you do what you say and you do that continuously. People reward you for that. They do that up here, too. If we would just do our job. I mean, I'm the first freshman to get a bill signed into law. I've had two bills signed into law in two years by two different presidents for two different parties. I got to roll, man. I got a plan. Your last message to the younger generation, give them one more little nugget. Keep the faith. Keep the faith man. It's It's available. It's hard.

It's probably harder than what it was when I was there. We're going to do what we can to get this government off your back and out of your back pocket. But go for it, man. The number one lesson I learned, it's at the base of my flag pole at my office says Kent never could. You believe, you'll never do anything. Believing that you can is way more profitable than believing that you can. Dang, Skippy, man. I love it, man. For bob your name one more time, Collins. Thank you for stopping. Guys, we're right outside of the Capitol building and we just come up on an absolute business mogul in the trucking industry and he's now a congressman. He's in the House of Representatives for the state of Georgia and he passed one of the biggest and most known pieces of legislation that's gone through in the last couple years. Mike Collins, I believe his name was, just gave an awesome interview for us here at the

School of Hard Knocks. We got to keep this one rolling, man. Go get another one, you guys. Come on, let's go. Excuse me, sir. Question for you. Thank you brother. Real quick. Real quick. How old were you when you made your first million? I'm not old enough yet. Yeah. What line of business are you in? What do you do for a living? I'm a member of the United States Congress. House or Senate? House. Actually, let me let me ask you this. What were you doing prior to getting into politics? Trying to help people. That's what I did. But those are not. There's only like 500 or so people in the US House of Representatives. What was the biggest driving factor of your success? A lot of people dream to do that one day. We're trying to inspire the younger generation. We've got 14 million followers. I've interviewed Shaquille O'Neal, Mark Cuban, the biggest business owners to help younger people. Just one minute of your time

real quick. Look, I just think to know that you're in this country that you have a responsibility to give back to it and that you can make a difference. I grew up in public housing, poor, but I saw changes that could be made by just contributing and working with people. What was that first actionable step that you took to start, you know, changing your family trajectory? You said you didn't come for money, but yet you made it to one of the highest levels of office that you can hold in the United States. Well, for me, the first thing was education and my family was important. And then reading was important and learning what was going on around my own environment. and then saying how can I make a difference and talking to some of my friends and then seeing some of my friends who actually are not here anymore who were killed who started using drugs or something of that nature it I'm here only because of God

how important has faith been for you faith is very important for all of my life faith has been important part of your decision-m process it is absolutely how have you lean on his understanding as opposed to your own and how do you kind of incorporate that into your daily life because some people say that they believe in God but really how do you kind of leverage and use that in your daily life I think about what I'm doing and I think about the Bible. Look at for example the works of Dr. King who I believe was an angel from God and how he lived his life in that regards and I challenge myself to try to accomplish and to live up to those things to do what I think is the right thing to do the godly thing to do the humanitarian thing to do. Politics is a nasty game.

You know like like why did you want to get into politics? Well, you say politics is a nasty game but politics is how you change things. I got into politics because people died for me to have the right to be here. ministers rabbis, imams, arm and arm in the civil rights movement. And that whole movement was about getting more people here. So if folks would put their lives on the line and saying that that's how we make this place that we live in and this planet a better place, then that's for me to do and that's why I'm here. How old are you now? I am 70. You look like 45. I wish I was. How do you look so good for 70 years old? You seem very young. And number one, faith does happen. And two, you have to exercise and you have to do those things and make the sacrifices that's good for your body. Take care of your body. Watch what you eat. You know, all of that's important. But I'm in my early 20s, so

you got 40 plus years on me. Let's break that learning curve right here. We can collapse time. Give me one piece of advice that you would pass on to me so that way when I'm 70 years old, I I I look forward and I'm proud of the life that I live. G give me a nugget something that really helped you out. Maybe some of the best advice that you got that you could pass on to somebody else as well to help them in whatever career or industry that they're in. I give you what I tell my daughters. The first thing is you got to believe in yourself. How did you find that initial self-belief? What happens is when you start thinking, can I can I accomplish?

Can I do this? Is this important? and believe that you can. Can I make a change? Can I make a difference? And believe that you can. If you think that it doesn't make a difference that you're not there. And I think that one of the things that has impacted me and I say to my daughter, I believe everybody has a purpose. And so one of the keys to life is finding your purpose. God's put you here for a reason. It's no accident that you're here. And the important part is finding what your purpose is. And when you find out what your purpose is, when you can feel it, cuz you can feel it cuz you're destined to do it. Some people know what their purpose is and run away from it. They get afraid of what their purpose is. They think it's too hard for them to accomplish what their purpose is. But once you find it, let nothing take you off track. You got amazing advice, my friend. Thank you so much for

your time. Thank you for what you do. Gregory Meeks. Gregory Meeks. I appreciate you. Seriously, that was a strong interview. I love that, man. Thank you. Thank you, my friend. Have a great day. Hey, my man just I love love love your Instagram. Greg is actually neighbor, man. He just gave an incredible interview. Oh, dude. He's been doing this for for years, guys. DC has been crazy so far, and I'm headed to go get my next congressman outside of the capital here in DC. But if you guys want direct access to the millionaires and the billionaires that I interview on this channel every single week, I built and created the number one community for business owners in the entire world where I give you the ability to hop on live Zoom calls every single week and get access to the minds and the skills of the millionaires and billionaires that I interview. And for a limited time, you can join this community right

now for free to come see what it's like and how much your life would change if you had the ability to get mentored from a multi-millionaire or billionaire. So whether you're in a 9 to5 right now and you want to figure out the exact steps it takes to leave that job and start building and creating the business of your dreams, or maybe you've already taken that leap, you started that business, you've started your entrepreneurial journey, and you want to learn directly from somebody who's actually built and created an eight figure, nine figure or billion dollar company. Well, every week I give you the opportunity inside of my private community to hop on live calls and speak directly to the millionaires and billionaires that I interview. All you have to do to join for free today is go down to the link in the description of this video to become a member of the school of mentors. I can't wait to see

you on the inside. With that being said let's go get this next interview. Excuse me, sir. Sir, how old were you when you made your first million? That's uh that's that's personal. Well, what line of business are you in right now? I'm a representative for the great state of Montana. Actually, what were you doing prior to getting into politics? And just for context, I started one of the biggest business media channels in the world to get advice for the younger generation. We're not I'm not here to ask about politics just for for advice for younger people. Well, I'll tell you what. I grew up without anything. I managed to get to college, was successful there, got a job at New York University as a research scientist.

Yeah. NYU. I taught there for a couple of years, left there, did a startup company that I merged with Yahoo when they first started out. So Yahoo bought your company. God bless America. You said Yahoo bought your company. We did a pooling of interest merger in the '90s. My company became Yahoo. We pulled our pulled our shares. Oh my goodness. After that, I I tried to help other people do the same thing. Did a lot of angel financing, early stage tech venture. September 11th happened. I got upset joined the Air Force. So, I was doing combat search and rescue in uh Afghanistan. But I'll say this country's been good to me. Yeah. I was the unplanned pregnancy of an unwet teenage mom. Look what I was able to do. I think about that girl trying to figure out what was in store for her. Raising me obviously gave me life, gave me, you know, faith. This country gave me opportunity. God gave me a plan. And

look what I was able to do. That girl 3 months ago flew to Washington DC and saw her son get sworn into Congress. God bless America. Congratulations, sir. Wait, real quick. So, let me ask you this then. What's the most common mistake you see business owners make in today's world that prevents them from Well, here's the thing. The secret to overnight success is to keep turning the crank. People take their eye off the ball. You got to just keep turning that crank, keep trying to get the ball down the field. What happens is people get distracted and they stop that. Put in the time to do it. Every overnight success that I know took years to do it of turning that crank. So, you thought in decades, not short term, you thought very long. Well, I think you need to think in decades. you need to just keep working, pushing that ball forward. And uh eventually, if you have the discipline to do that, you're going to

look behind you and go, "My gosh, look what I built." I think that's the biggest thing is is they're not focused on that. You just got to keep doing keep building, keep showing up. Back in my tech days, it was not uncommon for us to work 20 hours a day. And I'm not exaggerating. I mean, you'd sleep here and there when you couldn't focus anymore. You'd get, you know, your 4 hours of sleep at night and you'd just be back working again. That that's what we did. That's what we all did. Here's the thing. People say, "Oh, you got lucky." I'm going to tell you, the harder you work, the luckier you get.

But let me ask you this. Oh my gosh. So what are you trying to accomplish in Capitol Hill? I want to make sure that the America that was so good to me, that made it so that a kid born to a single mom, somebody that has no family connections, no family money, can do what I was able to do. And I think that's being squandered. I think that brass ring is farther and farther and farther away. I mean, lack of fiscal constraint. There's so many things that have made that harder and harder to do. We need to claw that back. I worry how a family starting out now, somebody starting a small business, doesn't have to be technology, any kind of business.

I worry about how that family ever has a path to buy their first home, which is the bedrock, the cornerstone of the American dream. And we need to fight back. And I think a big part of that is just fiscal constraint, starting to rain things back so that the United States of America is the promise that it it always has been that shining beacon that that American dream is still possible. Thank you, sir. I appreciate you. Have a great day. Appreciate. Hey, we just got another congressman out here in the US House of Representatives. Went from being a professor to building a startup that was merged with Yahoo, a multi-billion dollar company. And again just gave you guys some incredible advice for all the entrepreneurs and the younger generation out there. Man Washington DC has been crazy, man. These congressmen are dropping some straight game for you guys. Come on. Excuse me sir. Question for you. Have you ever

been broke before? Yes. Yeah. And what do you do for living out here in Washington DC? I work in this building. Capital? Yeah. In the capital building. What do you do? I'm a member of Congress. You're a member of Congress? Yes. Like in the Senate or House of Representatives or Oh, House. House of Representatives. You're a representative? Yep. In the US level? Yes. Are you serious? 100%. What's your name? Byron Donald. Byron Donald. Could I interview you for a minute real quick? I go all over the world interviewing the most successful people to help the younger generation. You think I could get a minute of your time real quick?

Yeah, sure. Of course. Is that okay? Yes. What was the turning point like getting into politics? Did you always know that you were going to become a member of Congress and worked in one of the highest levels of office that you can possibly hold? No, my business was in finance. Uh I was in life settlements, fatical settlements at the time. And when the economy was kind of blowing up in 2008, I had to do research for my firm and that's when I started watching politics and getting engaged. And I was about 30 at the time. But this was not a dream as a kid or in college or nothing like that. So you have a finance background. 17 years. I'm securities licensed. What's an economic truth that most politicians are afraid to say or that they're afraid to admit?

We can't borrow money forever. The more money we borrow, the more it costs us. And what most people don't understand is when you increase the nation's debt, it actually destroys the purchasing power of every American. The people who suffer most are poor people, seniors on fixed incomes. So at some point we have to pay that back. Yeah. We at some point we got to stop borrowing as much. So we right now it's let's slow down the trajectory of our borrowings. Let's get there first and then really plan a way over the next couple decades to start paying down the debts. Have you made your money work for you? What are you putting money into right now? My firm trades on my behalf.

I don't trade securities. Why not? Well one I think it's unethical for members to trade cuz I have information that people don't. I think you've seen a lot of members of Congress do that before. Oh yeah. Oh. Oh yeah. Former Speaker Pelosi has has done quite well in the stock market. People don't know why. Get $150 billion net worth off $100,000 salary. You've seen some people get real rich off of politics. Yeah. And that's I think that's really that's what's messed this place up because that's where I say it becomes about you and not about the people that sent you. If you do this job right, you lose money on this deal. What was your first moment in Washington DC when you were like, "Oh, this is how this really works." Oh man, that was uh probably our third day here. Yeah. Yeah.

What happened? Well, so actually when I got sworn in, the third day I was here was January 6th. So we got sworn in 3 days later we were doing the certification of the 20 election and you know that was that was a day. But what have you learned from being in Congress? like you've been behind doors that most Americans will never see. What's something that you've seen that would shock most people? I think what would shock people here is that most members are afraid. They're afraid of criticism. They're afraid of make the tough choice and do the right thing. That it's a tough choice to make in the moment, but it's going to be to the best thing for the future of the country. It's one of the things that makes me kind of sad about this place because if we just didn't worry about the fear quotient and actually just were bold and and did the right things, the country would be significantly better off. Have you seen

power corrupt people? Oh yeah. That's why I believe in term limits. You should not stay here forever. You got to go home. Who holds the power in DC? The president, obviously, the president speaker of the house, Senate majority leader. But I would argue that the real power in DC is really if a cluster of members are willing to stand firm for something because at the end of the day in Washington, everybody's counting votes. And if you don't have enough votes to get a majority to move something off the floor, nothing happens. What's the toughest decision you had to make in politics? Oh man when I got nominated for speaker at the beginning of my second term, you the House. Yeah, I got nominated. We were having a difference of a agreement on how the house should operate and there were a group of members that opposed Speaker McCarthy at the time and the group was trying to figure out who to nominate and they were like we want to

nominate you and I'm like what? And so uh I remember that day so well like I had to go into the side room, pray, call my wife. I think I I could really sense the gravity of the moment cuz you know we're trying to select the speaker of the house. The whole world is watching this thing and uh my name moves forward. And it's funny too like we're over here by the steps and I remember Manu Raju CNN we came out after I got nominated and we come out on the steps and the whole press corps is coming out this massive gaggle and Manu Raju CNN goes are you concerned about retribution and I looked at him and I just deadpan I go man I'm 6'2 275 I'm not worried about that not worried about it but that was that was probably a defining moment for me here what's your long-term goal in politics I'm running for governor now so uh we'll see if the people of Florida will elect me running for governor of Florida Mhm. I am. So we'll see how that

goes. We feel good. We feel confident about the race. But I think in politics like in life, you're either moving up or you're moving out. And anything that is stagnant doesn't go well in in uh in life. So I want you to think back to your career. What was that one conversation that really changed your trajectory in life? Oh man. My boss when I was 29, he said to me, he said "Byron, whatever you do, get to where you you want to get to by 40." He goes "Cuz by 40, that's where you're really going to make your money. That's really where you're going to make your mark."

And you know, when you're young coming into your career, you want every promotion. You won every title. You won every raise. But I think those early years are really just a grind for you to really know how to work, learn about you, learn about how to work with other people. That advice really did sink in. It does matter. You really just want to kind of get to where you want to get to by 40. And then that's really when you you take off. And so, you know, look at me. I'm 46. But you don't care about what anybody thinks about you. No. Why not? Haters going to hate, man. I have it in my office. I subscribe to the mama mentality. Haters are a good problem to have. You got to learn to love it. Can't worry about it. Hey, I don't care if they love me or hate me as long as they call me. That's right. Do you believe in God? Yes. Has faith been important for you? It's been huge. I gave my life to Christ at 21 and I think that I was

lost, man. Did you have some low points? Oh, yeah. 18, 19, 20. I had some real low points. Like what? Got arrested at 18. Got arrested at 20. Was really not where I needed to be. But you didn't fall into that victim mentality cuz obviously you didn't let that stop you from achieving the kind of success you amounted to. No, no, no. Because, you know, cuz I had to look myself in the mirror. And the first decision was I'm not going to be in this position ever again. And that was a decision I made at 20. You hear the young people say all the time that the system is rigged. Do you think it's rigged or are they just missing the playbook? No, they're missing the playbook. They didn't open it up. Run the play. You gave your life to Christ at 21 years old. Why did you make that decision that young? And why has that been such a consistent factor from 21 to 46 years old? When I gave my life to Christ, you know, God really had

been dealing with me in my spirit. At his core, he was basically like, "Stop running from me. What are you running from me for?" I remember I was working. I was a waiter at Cracker Barrel in college and table I was waiting on was this revival. Bunch of ladies from a revival in the pastor. And I asked them to pray over my life and they did. and I give my life to Christ in the parking lot of Cracker Barrel at 21. You see miracles happen after that. 100%. I love that. 100%. You got amazing advice, my friend. Thanks. Thank you so much for your time. What's your name? Byron.

Byron. Yeah. It's great to meet you. Pleasure. Guys, Washington DC was amazing. This is my first time filming here, but it definitely won't be my last. But I need you guys to like and subscribe for amazing content I've got coming every single week. And if you are not a member yet, you need to go down to the link in the description of this video to join the School of Mentors, the number one community for business owners in the entire world. And the reason why I built the number one community for business owners is because every single week I give you guys direct access to the multi-millionaires and the billionaires that I interview where literally you can join, come in, hop on live calls and ask your questions and speak directly to the people that I interview, the millionaires and billionaires you see me interview every week. I give you direct access to them every single week. Imagine connecting

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Questions about this episode

Who speaks in "Asking Politicians How They Got So Rich!"?

Mike Collins (Guest), Byron Donald (Guest), Gregory Meeks (Guest), Unknown Host (Host).

What is "Asking Politicians How They Got So Rich!" about?

The main topic focuses on probing politicians about their wealth accumulation and financial success, both prior to and during their political careers. The content highlights direct interactions with various members of Congress, questioning their motivations for entering politics and the nature of wealth in the political sphere, suggesting a broader inquiry into what insights government figures…

What is mentioned in this School of Hard Knocks episode?

15 people, works and ideas are mentioned, including Mike Collins, Byron Donalds, Politics, Small Business, American Dream, Gregory Meeks. Each one on this page links to its own page with every episode that mentions it.

How long is "Asking Politicians How They Got So Rich!"?

The episode runs 23 min; the transcript is about 6,178 words in 42 timestamped sections.

More from School of Hard Knocks

About this transcript: the episode's spoken words as captioned on YouTube, split into timestamped sections. Reclip.Me locates every person, work and idea in the text, keeps the time it is first named, and quotes the words around it verbatim. Last updated January 24, 2026.