Gary Acosta's Podcast

Gary Acosta is a successful entrepreneur, investor and founder of today’s leading Hispanic business organization. This podcast will feature Gary’s take on the economy, politics, sports and Latino culture.

  1. MAR 9

    Ten Predictions of What America Will Be Like in Ten Years

    The country is experiencing significant disruption, unlike anything we've seen since the end of World War II. A perfect storm of demographic changes, AI advancements, and political upheaval will reshape the nation forever. Some changes will be beneficial, while others will be less clear. Here's my perspective on what to expect in the next decade.    The country will be more socially liberal, but economic policy will trend more conservatively, causing wealth to become more consolidated.    While the country has historically faced short-term civil rights and multiculturalism setbacks, social policy has consistently trended more liberal. In ten years, America's heartland will be much more diverse, fostering a more inclusive mentality among the majority of Americans.    Economic policies will fluctuate, but America's image as the land of opportunity will keep them trending more conservative. Wealth will, for the most part, remain in the hands of the educated and the connected.         AI will bring down prices in many sectors, including healthcare.   Artificial intelligence will improve productivity in every sector of the economy, keeping inflation for most goods and services relatively low. Americans will have universal healthcare like every other major country worldwide. AI will make healthcare more efficient and less expensive.    Misinformation will replace nuclear war as the greatest threat to civilization.    Social media giants will be dismantled, yet people will continue to receive news and information from online sources, making it increasingly difficult to access accurate, straightforward information. Misinformation will ignite military conflicts, fracture families, and lead individuals to seek guidance from trusted sources who may not always have honorable intentions. To maintain unity within the nation, a constitutional amendment that defines free speech for the modern era and allows for the criminalization of misinformation will be ratified. Following this, social media companies will face numerous billion-dollar lawsuits.    There will be only two viable cryptocurrencies, but they will be extremely valuable.   Yes, crypto will be a big thing. The transparency of it will make it more appealing, and regulation and the market will eliminate most of the crap. Only two viable currencies will remain and will be worth trillions.    Theater, concerts, and other live performance art will become more popular, as will sports.   Video games will begin to replace films and television as the primary source of visual entertainment. Theater, sports, and live concerts will provide human connection and a refreshing alternative to electronic entertainment.      Weight loss drugs and surgical advancements will cause obesity rates to go down, and plastic surgery will be more common.    Weight loss drugs will get better with fewer side effects, reducing obesity but making people less healthy because drugs will replace healthy lifestyles for many. Social media addiction will cause cosmetic surgery to become more common.     Real estate values will outpace other asset classes – but not all types.   Malls will focus less on shopping and more on social activities and entertainment. Residential real estate will remain valuable, but mixed-use properties with a combination of residential and commercial will outpace standard apartment buildings in demand and value. Because of jobs and human connections, America's top 10 largest cities will have the strongest real estate markets.     Creativity will..

    9 min
  2. FEB 9

    Could Trump’s Policies End Up Helping the Latino Brand?

    An Alternative Perspective on Mass Deportations   I expect to get some heat for the title of this blog, but I hope you hear me out. Deportations could ultimately benefit Latinos in the long run, and here is how.    Donald Trump’s central promise throughout his presidential campaign was to enact mass deportations on a scale the country has never seen. Trump repeatedly characterized undocumented people as criminals and animals. I hated that because, for one, it’s not true. The large majority of undocumented immigrants are decent, hard-working people desperate for a better life in America.    However, there are also some bad apples, violent criminals that not only terrorize our communities but also damage the image of Latinos in America. Trump promised to prioritize criminals in his deportation plans. In the first few weeks in office, the data shows that about half of the people deported thus far have criminal records – so it’s unclear if things are playing out the way he said they would, but I hope they do. I also hope he deports white undocumented criminals, not just Black and Hispanic ones.    Latinos are the only ethnic group that has fought for the U.S. in every war since the Revolutionary War. They also have the highest workforce participation rate among all demographics. Latinos are God-fearing, hard-working, and patriotic people; however, if you weren’t aware and relied solely on the media and politicians for information about Latinos, you might think Latinos are a community filled with troubles—plagued by a mountain of legal and financial problems. When, in reality, the opposite is true. Let’s be honest; undocumented criminals contribute to the persistence of this negative narrative.     About 4% of America’s workforce is undocumented. They are not the problem. Removing these essential workers is hurtful and mean-spirited. It will also undermine our economy in more ways than we can imagine. If a large number of them are deported, this administration or the next will have no choice but to find a legal way to get them back. However, few argue that removing undocumented criminals from our streets and jails is a bad idea. It could also be a good thing for the Latino brand.    Reviewing DEI Can Be Good for Latinos   Little debate exists about whether companies with cultural and language skill sets will gain a competitive advantage in the coming years. The Trump administration also understands this reality. To their credit, the Trump campaign likely spent more money on Spanish language ads than any other presidential campaign in history. They understood the value of Latino voters more than their opposition did, and so do the smartest companies.    This week, there was a lot of news about Pam Biondi, the United States Attorney General, who has directed her team to initiate criminal investigations into private companies and universities with DEI programs, which, let me be clear, I believe is unfortunate. Still, ironically, the net result of this investigative process will be more clarity and transparency to the current administration and corporations on their respective boundaries. In other words, both sides will know what they legally can and cannot do.    Biondi points to the Supreme Court ruling that outlawed affirmative action in college admissions as the legal basis to force the end of private DEI programs. Last fall, Yale University reported that in their first year after the elimination of affirmative action, Black and Hispanic freshman enrollment actually increased slightly. While there will be some short-term setbacks, I expect a similar outcome for corporate America.    I would even double down. If companies are required to substantiate their investments in Hispanic markets, they will like

    10 min
  3. FEB 2

    My advice to Latinos in 2025 is to Collaborate, Pull Someone Else Up, and Go and Get the Money

    It has been said that government policy resembles a game of "whack-a-mole," meaning when the government tries to tackle a specific issue with a policy, it often causes new variations of the problem to emerge in different areas. In other words, "any action has an equal and opposite reaction." When taxes and regulations are reduced, as is expected in 2025, two things tend to happen: those at the bottom economically have it tougher because there are fewer safety nets and protections. Those at the top make a killing. There will always be a debate about what makes good or bad public policy, but the writing is on the wall for 2025, so let's make the most of it.    Go, Get The F-ing Money   Homeownership is the gateway to the middle class, but business ownership is the path to prosperity. Latinos are inherently entrepreneurial; now is the definitive time to focus on business ownership. Consider investing in a dull but profitable company, starting a construction business, enhancing your side hustle, or discovering new ways to utilize AI or assist others in doing so. Corporate and capital gains taxes are anticipated to decrease further, making business ownership more attractive. I favor businesses with high margins and low operating costs. Stay lean, yet be aggressive. Consider this: A great plumber can make $300K in a year, but if that same person purchased a plumbing business and flipped it for a $600K profit, they would pay roughly the same in taxes. In 2025, the environment for building wealth through business ownership may reach an all-time high.     Support Each Other's Businesses   DEI has become the convenient scapegoat for all failures. The irony in the criticism of DEI is that legacies and nepotism have influenced about a thousand times more college admissions, coveted internships, and C-suite appointments than DEI ever did. Many individuals throughout our economy currently hold very senior positions because of it, but that is the reality, and it's probably not going away. We can complain about it or learn to play the game. In actuality, I don't blame people too much for hiring their family and friends. You have to be intelligent about it, but I've done it, and it has generally worked out for me. With less help from government, we have no choice but to make a stronger effort to support one another. Whether it involves patronizing each other's businesses, forming partnerships, offering jobs, or simply sharing ideas, we are all stronger when we help each other. If Latinos did 10% more business with each other than they currently do, the impact on our collective wealth would be in the billions.    Pull Someone Else Up   As stated above, reducing taxes and regulations will leave some people behind. If you are one of the beneficiaries, commit to helping someone else. Find someone to mentor or help. Give someone a fish, and they will eat for a day, but teach someone to fish, and they will eat for a lifetime.    My goal for 2025 is to help create an even larger army of wealth-building warriors while encouraging a culture of collaboration and mentorship. Last year, I wrote a blog titled "Your Ideas Without Money Are Just Noise." In a nutshell, it said that the ones with the money make the rules. It sounds cynical, but it's probably more true now than ever. Let's get the money in 2025 so we can save the world later

    7 min
  4. JAN 26

    Why Realtors are the Best People (A Short Love Letter to Our Industry)

    Their Work is Important Realtors are in the business of making dreams come true. Owning a home is the cornerstone of the American dream. Realtors help families navigate the largest and most intimidating financial transaction of their lifetime. They serve as guides, counselors, cheerleaders, and protectors. Many of them remain friends of their clients for life. America is at its best when its citizens are stakeholders. The idea of an ownership society is one where all Americans have an ownership stake in our nation and, therefore, are vested in the nation’s well-being. Homeownership is the primary way people become stakeholders. Realtors make that happen.    They Bring Optimism and Positive Energy Sales is not for the weak of heart. Rejection is a daily experience. Success in sales requires an almost irrational sense of optimism. Optimism brings positive energy to virtually any situation. Realtors are trained to reject negative thinking and surround themselves with individuals who share a positive mindset. They share these disciplines with their families, creating an environment of gratitude and positivity at home and work.      They are Dreamers Realtors believe they can achieve the unachievable. They have vision boards and spend time thinking about a life of abundance. They believe in daily affirmations and reward themselves when they hit milestones. They rarely complain about things they can’t change. They mastermind with like-minded individuals and are grateful that they live in a country that rewards hard work and innovation.     They are Lifelong Learners  Realtors are lifelong learners, constantly consuming books, seminars, and podcasts that give them an edge. They are continually seeking motivation and breakthrough information that can get them an inch closer to their goals. They wake up early each day, ready for battle and eager to learn something new.    I have been blessed to work with realtors for most of my life and will continue to make it my career to honor and advocate for them.

    4 min
  5. JAN 19

    DEI Played No Role in the LA Fire Tragedy

    While the fires raged in Los Angeles, some of the most powerful people in the country weren’t focused on helping the families who suffered unimaginable losses. Instead, they used their enormous platforms to blame the tragedy on their favorite target, DEI.    In less than four years, DEI went from being a widely accepted bipartisan solution for America’s precarious wealth and income gaps to the root cause of every failure known to man. A staggering feat accomplished with military precision by none other than the world’s richest man and the social media platform he purchased for the trivial price of 44 billion dollars. I’ll get back to that in a minute.    After half the world witnessed the killing of George Floyd, a Black man, murdered by a White law enforcement officer, governments, along with the majority of Fortune 500 companies, made a wave of pledges to improve economic conditions for Blacks, Latinos, and other historically disadvantaged groups. Those pledges usually included some commitment to enhance workforce diversity. Specifically, they committed to hiring more minorities in management, executive, and board positions.     While the idea sounded reasonable on the surface, it never felt authentic. Don’t get me wrong, some companies genuinely value diversity - and did so even before George Floyd. For them, DEI was business as usual, but for others, the effort seemed forced, as if someone was holding a gun to their head. I always felt that DEI was a shell game for some of those companies, especially the ones from Silicon Valley who hired chief diversity officers who reported to the CEO for optics but who, for all intents and purposes, were powerless, lacking a budget or any of the usual authority that comes with a c-suite title. A DEI strategy without any real teeth gave them a box to check without having to do anything significant.    While there was always some resistance to DEI, it was mainly on the fringes, at least until Elon Musk and fellow billionaire Bill Ackman decided to make it their mission in life to destroy it. Musk and Ackman’s arguments always manipulated the truth, but their all-out assault on DEI gave disingenuous companies the out they needed - and man, did they take it.    I must say, it’s been amusing watching some of these companies go from taking a knee in black solidarity to suddenly and in what seemed like orchestrated unison, realizing that OMG, DEI is nothing more than reverse discrimination and, of course, canceling their DEI programs and self-righteously proclaiming that discrimination in all forms is downright wrong—such virtue.    I say amusing because nothing really changes in the grand scheme of things. Those of us on the inside knew the idea of DEI, for many companies, was primarily a facade. Companies that know diversity at all levels is a powerful asset will continue to do what works for them, and the ones that don’t believe it will never change anything.    America is not a meritocracy. As much as we want it to be, it’s not - at least not yet. Eighty-five percent of all jobs are never posted, and 70% are filled from a referral. How do you think those jobs get filled? Who you know has always mattered more than actual qualifications. But there was never a complaint from Musk or Ackman for any of that. For what it’s worth, DEI was never about lowering the bar to give minorities jobs they aren’t qualified to have. That’s just propaganda. DEI, at least in concept, was about reducing barriers caused by nepotism, legacies, and other forms of implicit racism so that the best candidates, regardless of race or ethnicity, can fairly rise to the top. Full Stop!   I don’t know anything about the hiring practices of the city of Los Angeles. The scale of the damage of the fires suggests that there is a lot of blame to go around,

    10 min
  6. 12/22/2024

    In 2025, Bet Against the Consensus

    Professional investors know that the best way to make it big is to believe in something that almost everyone disagrees with - and be right. That could be a business idea, an investment opportunity, or a cultural trend. If change creates opportunity, this coming year feels ripe for new big things to emerge. The country is more divided than ever. The world seems to be on the brink of war, and the one thing the incoming Trump Administration seems most committed to is massive disruption. Big changes are coming, but what will they be?    If most people think interest rates will rise, and you bet the other way, you will look like a fool or a genius. Nobody wants to look like a fool, so it takes a lot of confidence to go against conventional wisdom. However, if the idea is big enough, the payoff for betting against the grain can be enormous.    Start by asking yourself what are the big ideas in your field. The bigger, the better. Then, pick a few that most people believe are a certainty. Finally, choose one you strongly believe most people are wrong about.     Here is an example: The 2008 housing crisis left the industry in shambles. A few years later, I was appointed to the inaugural advisory for the Consumer Financial Protection Bureau (CFPB). That role gave me a behind-the-scenes look at regulatory changes being considered for the market.    The mortgage industry was blamed for starting a crisis that nearly took down the entire U.S. economy. Many people believed that mortgage brokers were primarily to blame, and most believed, including the leaders at the CFPB, that banks, not brokers, should originate mortgages. The consensus at the time was that regulators would eventually eliminate mortgage brokers. I believed that myself.     A few people disagreed, including Matt Ishbia, the CEO of United Wholesale Mortgage. Rather than pivot to a new business channel, Matt went all-in on the mortgage broker business. When he turned out to be correct, UWM became the second-largest mortgage company in the country, making Ishbia a billionaire. Today, mortgage brokers have a larger market share than in 2008.      This holiday season, do some deep thinking and determine where the big opportunities in your field of choice might be. Remember that the more certain everyone else is of a particular idea, the greater your opportunity if you are right and the consensus is wrong.       The holiday season should be about gratitude more than anything else. I am beyond grateful for my life, family, friends, and the fulfilling work I get to do.     Thank you for reading my blog. Merry Christmas and Happy Holidays!

    5 min
  7. 12/08/2024

    Unity

    Next week, I will be speaking at a Hispanic Leadership Summit at the United Nations. I was asked to speak on the topic of Unity. The following is a preview of my speech.    In 1966, Ronald Reagan made a statement that became known as the “11th commandment” in Republican politics: He said, “Thou shall not speak ill of thy fellow Republicans.”  Republicans loved it, and most would argue that it has served Republicans well over the years.    Fast Forward to 2020; Joe Biden had just won the presidential election. In an interview on MSNBC, Eva Longoria credited Latinas for carrying the election for Joe Biden. For making that claim, Longoria took a beating on social media. Why? Because the narrative at that point was that it was Black people, particularly Black women, who deserved the credit for Biden’s victory. And by giving credit to Latinas, many believed that Longoria showed disrespect to Black women.    Most of the criticism came from people on the left, including a good number of Latinos who willingly jumped on that bandwagon. A few days later, Eva was essentially forced to go back on TV to grovel and apologize.    Later that month, I wrote a blog post inspired by Reagan's statement. It was titled “Thou Shall Not Publicly Criticize Other Latinos” and published in Hispanic Executive Magazine.    In my blog, I mentioned the Longoria story and made my case for defending our own. While some people liked my article, I also received a fair share of criticism. Again, I received a lot of self-righteous comments from Latinos on the left. “What a stupid statement!” “Are you saying Latinos are infallible?” “If a Latino is out of line, I am going to call them out just like anyone else!”    Two months ago, and we’re all familiar with this story, Donald Trump hosted a rally in NYC and had a comedian open for him.  As we all know, the comedian called Puerto Rico a floating pile of garbage.    A few organizations, including NAHREP, posted statements denouncing the comedian’s comments on social media. We got positive remarks thanking us for making the statement. Still, there were also a good number of Latinos, this time from the right, who criticized NAHREP’s statement, making comments such as, “It was only a joke.”, “That’s our problem, we can’t take a joke.” or, “You’re trying to connect this to Donald Trump. How dare you… “Make America Great Again.” We received tons of comments like that.    Let me ask you this question, and I want you to think about it: Instead of a Donald Trump rally, let’s say it was a Kamala Harris rally. Instead of calling Puerto Rico a floating pile of garbage, let’s say a comedian opened for her and said that Israel was a pile of garbage.    Do you think the reaction would have been the same? Do you believe there would have been a division between conservative and liberal Jewish people about whether the joke was appropriate at a political rally? Just ask yourself that question.    You probably know where I am going with this, but let me give you one big example of why the narrative about Latinos matters.    A couple of years ago, I had the privilege of participating in raising $100M for L’ATTITUDE Ventures, a venture capital fund that invests exclusively in Latino-led companies and start-ups. I saw firsthand what these people think about Latinos from a business standpoint.    Through that process, I learned that roughly 70 trillion dollars of investment capital are floating around the globe and that a relatively small number control it. These people are under pressure to make good investments - that will give them a good return. So, again

    11 min

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About

Gary Acosta is a successful entrepreneur, investor and founder of today’s leading Hispanic business organization. This podcast will feature Gary’s take on the economy, politics, sports and Latino culture.

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