Self-made millionaire Wayne "Butch" Gilliam used to do deals based on trust and a handshake.
But he's found that more and more people are breaking their word. For the star of CNBC's reality pitch show "West Texas Investor's Club," the handshake deal is dead.
"[You] can't trust anybody anymore," said Gilliam, co-chairman of the West Texas Investors, the investment group he started with his friend and business partner Rooster McConaughey.
"It used to be that you'd do deals on a handshake and a person's word was their promise," he said. "It meant something, it had iron, it had fiber to it. Today, people don't think anything of it."