Why This Law Firm Bought A Private Jet To Save Money

[@ChrisInvests]

I wish I'd save money by buying a jet 😂

[@datsunz152]

your not worth $400 an hour..

[@Anthony-nx5yu]

I mean they’re a group of lawyers, it’s self made money, not donations, not taxpayer money. They should do as they please.

[@Anthony-nx5yu]

Andrew lol tag him, I thought that was for me

[@aahsimovieprojects]

sorry about that haha, definitely not for you

[@pacoramirez7363]

When you blow your travel budget for the month and you have to stock your private jet with Walmart brand snacks.

[@frisbeeeater]

Paco Ramirez loool right? And seriously can’t afford a flight attendant for $100 a fight?

[@AJ12Gamer]

Great advertisement CNBC. People noticed and are talking about it.

[@kalebhgoodwin]

Great Value is the cheapest walmart brand too. So ironic. Lol

[@Asteroid_Jam]

Well the jet is for money saving so they have to cut costs where ever they can.

[@DavidDavid-fp6gv]

@@frisbeeeater y have a flight attendant? They take up space and Waste money all they do is babysit People on commercial flights

[@disciprine]

This video "We're totally doing work on the plane guys and not cocaine!"

[@geoffreycharles6330]

I'm pretty sure they're doing each other on that plane too.

[@geoffreycharles6330]

@NonyaBusiness! you're right though

[@Asteroid_Jam]

NonyaBusiness! I don’t think god would want them to be doing coke.

[@MattSezer]

It's probably cheaper than paying their attornies the increased cost of living that they'd have to spend if they lived in Silicon Valley rather than Texas.

[@Asteroid_Jam]

Matt Sezer if you are from Texas you do not leave Texas. Most Texans do not leave Texas

[@devin1234]

Matt Sezer Yup, rent is soaring here in Silicon Valley

[@FlightX101]

@@devin1234Anywhere near Silicon Valley is death lol. Assuming these lawyers would get luxury apartments. Plus they would have the deal with traffic constantly. To their benefit they get to bill their clients the flight hours as they work so they still make money :)

[@evanserickson]

Rent is the only thing in CA that is expensive. Everything else is normal price.

[@Apologue]

*the poor sell time, the rich buy time*

[@eldiantre7346]

These rich guys are selling their time too. Its just that their time is so valuable they can justify expensive time saving purchases like a private jet.

[@anguspontin7244]

These guys do both - middle class

[@rock3tcatU233]

Cash money, ain't nothin' funny.

[@MacSaab93]

The savings is even more because they're not accounting for the cost of commercial tickets for 9 people as well.

[@chad5893]

They did, they said round trip commerical for 9 people is around $17,000, that was their basis to factor in wether or not the jet was cost efective

[@danielduffield3132]

Wrong. The cost of flying 9 people on "the bus" is about $17,000 round trip (which includes gas and pilot expenses). That is almost assuredly more expensive than commercial flying for them, BUT they justify it because they can charge billable hours and get work done on the way, whereas with commercial flight, due to the confidential nature of their work, they couldn't.

[@Revel4tions]

The cost for someone to fly from texas to cali in business class is like $700-1000 so they saved an additional $5-6k

[@FlightX101]

@@danielduffield3132Agreed. Cons- Upfront cost of buying a jet Pros- Fly Whenever, Billable Hours, No Lines saving hours of time, protecting the security of trade secrets and documents (imagine a case of lost luggage lmao that would be a nightmare for the firm)

[@jostsomuan8012]

I like how this gentlemen invested their money on something that would be beneficial for the company and not just waste the money on other luxurious things. They do not need designer clothing.

[@adamtel3521]

Better then the pastor who bought a jet. These guys are doing business. “Smart”

[@aced9852]

John Wayne 😂😂

[@funny-video-YouTube-channel]

*Rent it out,* there is a renting app for business jets.

[@RussianSpy4146]

epSos.de what’s it called?

[@Maurazio]

if renting out means having it blocked already weeks in advance it might not really work for them

[@IKonrad112]

@NonyaBusiness! Net jets costs $6,000 to $8000 an hour, and members must buy at least 25 hours per year. That's $150k to $200k a year, minimum. The video claimed they fly once a month from Houston to San Jose/ San Diego. That is roughly 3.5 hours and 1 hour out, plus 3 hours back. That's 7 hours a month, roughly 84 hours a year. This firm claimed they spend $17k per trip or $204K per year ALL IN, meaning reserves, crew, and fuel. To fly that same amount of time on Netjets would cost $504K to $672K per year. Netjets typically begins to discount your hours above 100 annual hours. Unless you're only flying 30 or less hours, Netjets does not make sense financially- unless you cant afford a jet's upfront costs. If you buy big chunks of hours like, 100 or 200 hours, for your company to share or if you need multiple jets around the world, then Netjets is perfect. Other than that, its WAY to expensive.

[@FlightX101]

@@MaurazioThey could but based on the interview it seems that the need to be flexible to visit a client at any time

[@Rickiye]

Is it just me or does that blue like towel on the jet's couch seat look tacky..

[@seanng33]

They are just advertising their company, I doubt it's a permanent fixture

[@ZacharyLaid]

That sweet write off Grant Cardone gets for his jet fuel.

[@AmaniLindsey]

Zachary Laid Finding Freedom facts I seen that Vlad interview

[@HyperisticNiku]

Friend:How is your new job? Me:Nothing much I just take a jet to work.

[@mohaamd_7505]

I think your supposed to use colon instead of a dash in this context.

[@whitemailprivilege2830]

Mohaamd_7 he cant use it because he has colon cancer

[@Glotch]

This is an incredibly smart business move

[@ninjanerdstudent6937]

Thanks for posting. Now we know which aircraft to bug.

[@AJ12Gamer]

😂🤣😂🤣

[@krazzielaosboi]

17k roundtrip to fly 9 people on a private jet once a month not too bad for a company considering operation cost on these birds cost 4000-6000k per hour.

[@oldtwinsna8347]

Meh, they just bill their clients for the cost so not an issue. Good lawyers are worth their weight in gold. Very few of them out there despite a sea of mediocre lawyers.

[@roveism]

I like how they had to have a rock and roll background music to cover up the utterly lifeless soul crushed voice of the lawyers explains why it makes financial sense to own a plane...zzzzz

[@Puppygirl-hj1tn]

I appreciate you guys sharing the digits. It’s fascinating.

[@SC-yw5ve]

They all have such sparkling personalities.

[@jostsomuan8012]

I loved this videos so much. It makes me feel like o could one day buy my own jet. Like if it was not as hard I people think of it to be.

[@lulalula2851]

3million jet with Walmart great value chips 😹😹😹😹

[@RofuRofu22]

Hater 👎

[@edr.2642]

Like what he said, the plane is for business use.

[@AM-lx3ob]

3 million is a “Walmart price” for a business jet that can fit 9 people. 😂 A high end one could easily cost 50 million....

[@tc47440]

I noticed that as well!

[@AJ12Gamer]

Great advertisement CNBC. People noticed and are talking about it.

[@SRTUV1]

*Wendover Productions just released a video explaining why*

[@CivilAviation1]

If you want to make money you gotta spend money. If you have yozr own jet it's available 24/7 and you don't have to rely on any charter firm.

[@samsteel4456]

Literally shut the video off half way through because the music blew out my speakers while the talking could barely be heard. Rethink your audio editing.

[@David-jj7dy]

yeah tell these people to get it right and redo the video if they want us to watch just how great they are doing. I mean, they are perfectionist right ?

[@graxhimself]

I swear I’m not kidding I’m on his jet now I’ll post it on my channel

[@voscra]

The fact that they don't have to pay San Francisco rent but only Houston rent is genius

[@DanielIles]

Traffic backed up and client needs the report by 7? *just grab the parachute*

[@MarcusLeepapi]

Very nice. Thank you...Fly safe always...

[@PurpleLotusSamsara]

Nothing compared to bogus Prosperity preachers Kenneth Copeland and Jesse Duplantis their private jets were like $35-$50 Million @ least these guys crunched all the numbers and made sure it makes sense for them ...not money wasted or trying to be over the top imo..just smart business decision...

but Kenneth Copeland and Jesse Duplantis are doing Gods work.. and its hard to do Gods work in a long tube full of demons

[@Photon_Collector]

This is me explaining to my parents why I need a Nvidia RTX 2080ti in my PC to help with homework.

[@fruitoson4227]

so.. we don’t want security and we want to look at paper together

[@zurinarctus1329]

Unlike celebrities, this is actually a smart investment.

[@caddyshack68]

That’s not how most lawyers with 100k I’m student debt travel lol

[@David-jj7dy]

I to use my private jet for work almost every day. It definitely has its privaledge. But once your a part of the jet crowd, there aint no going back. You begin to see while your at the tarmac and in the small private airport just how many of us there are that speed to work every day. Its very common now a days. To see the rise of peoples incomes in the way that they travel on board of their jets is now so common place. We rich people are glad it is so expensive to have a private jet for it keeps the regular "poor" people at bay and you never have to worry about " them " bothering you and your money. I mean its not my fault I am so rich.

[@Secretjorge]

3 million isn’t a lot for a jet, they got a deal :)

[@swagraptor5477]

They're predatory patent lawyers, I searched the aircraft registration.

[@Y_Canada]

If they also rented the plane out for the remained of the month, they would cover the costs for sure. Except for that, this was a smart decision.

[@JR-bc4rn]

That plane didn't looked like a $3 Million, looked more like times 4 the value What plane was that??

[@random-ig6tp]

used

[@kevinprociw3168]

Gulfstream G200

[@saltymonke3682]

@hannan shah used

[@farzana6676]

@hannan shah Used market. They start around 2M and go upto 9M.

[@NitayNostrasifu]

Old model

[@kydddj111]

time is everything

[@krazieman69]

Yeah. But they don’t count in the initial capital outlay for the plane for that $17000. It’s a lot different though than Don Godwin having a plane for his and the Halliburton GCs personal use.

[@chasem3549]

So it would take them 12.5 years to recoup their investment based on billable hours and plane tickets? Not worth it. Need more line items for expenses. (3 million / (20k x 12 months)) not including compound interest or discounted cash flow

[@superchargedpetrolhead]

this is just a tax write off so they don't have to worry about it...

[@rroge5]

Imagine how much more time they could save if they used the internet to video call instead of traveling

[@JohnLee-fr6pi]

$3000 saved per month with a $3M up front cost. Wonder how long it will take to make that $3M back.

[@RaystyleIII]

The airplane is still an asset, as long as they don't lose money on operational expenses, they can afford it.

[@tinomorgenstern3430]

Write - off might be included in the 17000$ cost so that way they are actually saving money everything considered.

[@ablargh]

you do realize its $3000 per person right?

[@JohnLee-fr6pi]

@@ablargh you do realize you're wrong right? He said NINE people.

[@JohnLee-fr6pi]

@UCF32AaLxb7g17WiW0PnI2sQ they don't take commercial flights DAILY. They said they fly "at least once per month". They didn't even say "at least once per week". That gives me the impression they use the plane less than 4 times per month.

[@MS-37]

With the cost of living in these tech hubs this might become the norm on day.. For lawyers etc

[@franknills9879]

If you really want views and subscribers you should get Graham on millennial money series

[@estebancq]

Calling a private plane a bus 😂

[@michaelcastillo5340]

To save a whole days worth of work. I just saved you 2:44 of your time.

[@laurenpage3548]

Shocker: there are business scenarios where it makes economic sense to have a jet Why do they think there's such a huge number of them around? Duh

[@Panthers1521]

They just bill the client.

[@Imsoo188]

A tax deductible big toy.... genius

[@poojak1523]

For them, there's more value than only the cost savings. Lawyers and any others handling trade secrets are susceptible to stealing, hacking of devices on open networks or in the open and kidnapping and ransom.

[@hbarudi]

Their business decision, given that lawyers always have more time issues than money issues that made them go for buying a whole aircraft for their business and the inside looks like luxuries. While they have the option to fly in economy class, there is problem with that when they can't protect other people's sensitive info especially when it comes to court issues and this also explains why law firms are always expensive.

[@dswish4042]

Hint: they didnt, its to show how much they can waste.

[@djderie]

When you make so much money you buy a private jet to save commute time

[@aadiskywalker]

Uncle G bought a 50 million dollar private jet and uses it almost every day

[@ChrisInvests]

Adarsh Mohan his commuter vehicle

[@seanng33]

Why not fly NetJets?

[@ronc7578]

They do it for tax reasons to write it off as a business expense...plus they can use it as a travel....

[@afihaileywibowo1095]

What song is on the background?

[@Heart2HeartBooks]

So you can't be doing work while traveling on a commercial flight? That makes no sense. That being said. Don't make excuses as to why your firm bought a jet. Enjoy it.

[@takeru51]

Tax deductible jet

[@abhishek-vlog3550]

No way you can buy that aircraft for 3million

[@darealphantom]

Wait they brought a million dollar private jet to take a flight once a month seems like a overzealous

[@SteelCurtainGirl5880]

At surface glance I'd agree, but assuming their price ($17000) for round trip each month is correct, plus if you add the amount of time (aka $) saved by being able to work while on the plane in confidence, it's not that bad.

[@jawhi]

They don’t save money, they make money from it

[@ericedwards12]

Graham?

[@harendrasingh_22]

hmm, true.

[@paxundpeace9970]

My advice, book your plane and flight ours on a private jet network it is far cheaper and you didn't wooey about the plane maintenance and etc.

[@budidarmawan6959]

$17.000 for a round trip for whole team meh it's too expensive, better buy a $3million jet. i hope my companies also had this idea 😆

[@tinomorgenstern3430]

17000$ is the cost of the round trip with the plane.

[@ThatGuy-zu2hi]

I'm not happy filling up my car imagine

[@8platypus]

you don't have to justify it to me, the TSA is super lame.

[@welovelibraries4556]

How much does it cost to maintain? Classic CNBC incredibly poor reporting

[@vn01208503]

i would love to know that also , but at the same time they are law firm so heck they must have planned it very carefully before buy a jet, money is not an issue for them

[@welovelibraries4556]

vn01208503 Money is the ONLY issue for them

[@vn01208503]

@@welovelibraries4556 doubt that, if they can afford 3mil jet (and that just the tip of other expense). money sure is not an issue for them. clients and time are.

[@welovelibraries4556]

vn01208503 Wow what a middle to lower class comment by you - it’s ok you are part of the lower 75%

[@vn01208503]

@@welovelibraries4556 and you are not? ok shrugs

[@Atipat12]

COOL

[@irisxkae]

What does this have to do with us? Lol

[@n4s250]

Iris Kea not a damn thing. They just wanna show us we broke

[@petemama5448]

Right, confidential? I'm sure they don't do anything with the information they learned from the actual educated people they represent!

[@thomasbonse]

In order to maintain that confidentiality, they would not be able to discuss their clients' business while on a commercial flight. The same would be true even with laptop screens or paper. So it really is realistic that this allows them to continue working while flying. As such they are making money in-flight instead of just spending.

[@nchimunyabwalya2307]

Wish they'd get me a bike 😐

[@mmatt6573]

3 million dollar plane? O.o

[@blackchang1981]

Must be nice.🛫

[@hellohey5955]

Just move to san jose

[@ag-bk5wf]

Tx and California salary tax...look it up. And cost of living..look it up again.

[@ArchangelTyrael]

na x if they are able to buy a private jet, they probably won’t be worried about cost of living and such.

[@dogan6070]

I'm counting my chump change. And these guys are talking in 20.000 to millions.. I doing something WRONG

[@bubandlisa]

Excuses but they are EXEMPT FROM CARBON TAX CUZ BEING RICH PAYS and you poor schlubs HAVE TO PAY GREEN TAXES

[@ArchangelTyrael]

400 and hour, what a ridiculous salary.

[@danielcuevas5899]

Polymatter anyone?

[@masterofgarden3472]

I would the same, I think they could spend more the company is being very cheapo.

[@irietropicals4255]

You can do all these things on a commercial jet lol

[@bftjoe]

Can't discuss confidential cases.

[@roeese1]

Silly. Lawyers, a dying industry of sophists.

[@Revel4tions]

They might be sophists but that's a thriving industry.

[@kelseygustin5785]

Where are the women? According to its website, Patterson + Sheridan LLP has 22 partners in its firm. 21 are men. Only one is a woman. What gives?

[@Atipat12]

🔥🔥🔥🔥🔥

[@relaxingsounds1386]

Well yeah, they make a shitload of money.

[@HTHAMMACK1]

I don't believe you saved money at all. I think you lost money.

[@peterchiung1159]

the kind if jews that likes to spend money

[@jasonfanclub4267]

Nuts

[@THEFIRE360]

If you get paid that much per hour ofc its cost effective to do this

[@VenularSilver]

Fortnite

[@natsume001]

Sponsored by Google

[@professionalcommenter5]

Minimum wage workers: wage gap and income inequality. These guys travel in a private jet. Not fair To minimum wage workers: You don’t add the same type of value at your cashier job. Otherwise, you would be provided a private jet

[@cmac2295]

Entitled elitists. There are better ways to save money.