Neville's Digital Surrogate Brain
These are my goals for October 2024:
Last month was a whole bunch of wedding stuff, and the main wedding is over (and went insanely great), and now there’s more wedding reception stuff this month.
It’s been fun doing all the wedding stuff, and I’m glad I kept up with work at the same time by front-loading everything.
Here’s my goals for September 2024:
Here are my goals for August 2024:
Here’s my goals for June 2024 Goals:
Here’s an interesting thought:
“The Internet” still runs on servers and cables, and the companies that run the most bare metal on the internet are:
– Amazon: 32%
– Microsoft: 20%
– Google: 9%
– Alibaba: 6%
– IBM: 5%
– SalesForce: 3%
– Tencent: 2%
– Oracle: 2%
That means as you’re reading this on your phone/tablet/desktop, some bits and bytes travelled either by air or physical cable to a metal server likely controlled by one (or several) of the companies listed above.
You might be reading my words originating from a cluster of servers just like this!
I once had dinner with Peter Thiel…
….and whenever someone asked his opinion on something, he’d give a “spectrum of possibilities” for every answer.
Example: If I asked his thoughts on the future of the Dollar, he would respond:
“Ok, here’s 3 scenarios…”
Then he would give 3 different “scenarios” ranging from:
– Normal and boring scenario.
– Good and Bad mixed scenario.
– Crazy worst case scenario.
Then he’d backup each scenario with data or comparable past events.
He rarely thought something was black and white, but that everything was a spectrum of possibilities.
It was super cool to see his thinking in action!
If you ever want to sell a company for a very high multiple, here’s some qualities of that company:
– It owns a niche.
– It has recurring revenue.
– It has tech at its core.
– It is international.
– It has defensive IP.
There was a fantastic episode with Scott Galloway on the My First Million Podcast about building wealth in your 20’s, 30’s, 40’s so you can relax later in life:
Here’s a raw dump of my notes (sorry for poor spelling/grammar all taken on my phone):
————MY NOTES————
The sexier the business the lower return unless you’re top .001%. Find your talent and become good at that in a fields with a 90% employment rate.
Less sexy the business the higher the return. Where can you be great?
Why some people can sell for high multiples: -They own a niche -They have recurring revenue -Tech is at their core -They are international -They have defensive IP
Consulting: “pay me $250,000/yr and I’ll answer all your questions.”
He spent $17m to build scraping tools. Was focused on exit right away.
Started L2. Sold for $160m. Started it at ~44 years old.
Build a small business by high retention of good employees. If a person has a friend at work they’re less likely to leave. I don’t try to be their friend, I try to be their dad.
Sometimes in the world of media the whole world just stops advertising.
Was in his early 40s and flailing and his takeover the New York Times went very poorly and lost a lot of peoples money and people were not advertising anymore and he was just figuring out a way to be able to afford living in New York.
Sold Prohet for $33m 2010 started L2. Sold for $160m.
Be humble when you have wins bc a lot of times it isn’t you.
You can’t control what happens in your life but you can control how you respond to it.
You’re never more prone to making a big mistake than right after big win.
Need to be more aggressive and have your sails up so when the winds kick up you catch it.
Some people get stuck, they can’t forgive themselves and they lose their mojo, and 7 years later their confidence and skills start atrophying. Put a statute of limitations on it and move forward. Might be time to mourn and move on. Be around people who want more.
“I surround myself with smart younger people because they have a different take on life.”
Opportunity is a function of density. Be in something that has a high density of success. Who becomes wealthy: Be in a big city like San Fran or New York.
Find people you want to be like. You rise or fall to the level of your peer group.
“My 40’s I grinded my ass off, but I delegate a lot.”
America is best country in the world to make money, Europe is best place to spend it.
1% is $750,000/yr. You generally won’t have total balance if you get to 1%. Expect to go all in on your career or scale back expectations. You can control how hard you work when you work. Don’t work so hard you sacrifice your health but enough it takes a toll. Then you can have more balance later in life.
1 source of divorce is money. When a man loses status as a provider he’s more likely to get divorce. Sometimes it’s get out of the way and help other partner.
The more money generally the happier in terms of lower income to middle class to upper class.
If you have lots of money you can relax and exhale.
We’ll all be dead soon, it’ll go by very fast, you should try to have fun and a good time. “I’m going to a country music festival and wear boots and take an edible and just have fun.”
Wealth is about how much you spend. If you consume less than you make you are good. Develop a “savings muscle.”
Take advantage of time by saving and investing and let compounding do its thing. Every 21 years your investments go up 8x.
Yes you can maybe sell a company or something but maybe not, so show some discipline and maturity by slowly getting rich.
Book: The Algebra of Wealth
Wealth = Focus + Stoicism x Time x Diversification
Focus: If you have a side hustle you need to have a better main hustle. The way you get wealthy is by getting really great at one thing. Find it in an industry that’s not very sexy. If you’re top 10% of installing HVAC, you can make a really good living.
Your passion is not your hobby. It’s what you’re really great at.
When wealthy spending time time with kids and parents and people you care about.
Make more than you spend is step 1.
Went from vc to consulting, found out consulting was too hard as he got older and moved to teaching. Had to revamp his life and career and skills several times.
Lost everything twice; in 2000 and 2008. Started diversifying to prevent this.
Started saving a lot of money in his 40’s.
“I deployed an army of Capital in my 40s for my family to go kill and grow while I was asleep.”
Viewed his stack of capital like an army: Here’s a tank, I’ll sacrifice the awesome apartment to grow the army
————MY NOTES————
My buddy Noah Kagan just had a baby shower for upcoming baby, checkout my “Noah Shirt” 😂
