I Spent 7 Days With The Richest Men In Texas
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- Опубліковано 13 чер 2024
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Episode 572: Sam Parr ( / thesamparr ) and Shaan Puri ( / shaanvp ) talk about the 10 revelations learned from spending a week with Texas billionaires.
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Show Notes:
(0:00) Tim Ferriss asks Shaan a hard question (panic ensues)
(2:46) The Indian Warren Buffett
(7:25) "Investing is not a team sport"
(8:31) Mohnish Pabrai’s Nap Room
(10:28) Required reading list of a billionaire
(11:47) He built 5 billion-dollar companies by 41
(15:39) 5 Revelations from a day with Joe Lonsdale
(19:50) The final level of the money game: private chefs, full size basketball court, etc
(20:52) Nick Gray, cocktail party legend
(23:45) Hanging out with smarter people
(27:17) Nerd sports that make the best entrepreneurs
(31:17) Pay attention to what other people pay attention to
(33:47) Ben Levy's superpower as a superconnector
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Links:
• The Dhando Investor - tinyurl.com/53p9bhfv
• PeachyBbies - peachybbies.com/
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Check Out Shaan's Stuff:
Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): bit.ly/SupportShepherd
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Check Out Sam's Stuff:
• Hampton - www.joinhampton.com/
• Ideation Bootcamp - www.ideationbootcamp.co/
• Copy That - copythat.com
• Hampton Wealth Survey - joinhampton.com/wealth
My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano
11:42 - "10-K" is the annual report. "10-Q" is the quarterly report.
you're hired - new head of finance for MFM
Thank you!
The insights on billionaire habits and mindsets are always intriguing. One advanced tactic they often use is leveraging 'decision fatigue' avoidance - like having a set wardrobe or a nap room, as mentioned with Mohnish Pabrai. It frees up mental space for the big plays. Entrepreneurs could apply this by simplifying routine choices to focus on growth.
Mohnish Pabrai is an Indian-American businessman, investor, and philanthropist. He was born in Bombay, India, on June 12, 1964. He is the founder and managing partner of Pabrai Investment Funds, a value-oriented investment firm that manages over $1 billion in assets.
tim episode wen 👀
On behalf of us all we appreciate the NEW ad!
bless you
What was the hook! 31:45
Are yall gonna release full length episodes again, or are we just slacking now?
@Shaan-Puri Miles over my head
How Investors read all day:
Once investors find something interesting, like his coal bets, for example, they read tons of material about the company, the industry, and its history. They basically drop everything until they figure it out.
Another thing you mentioned is training and broadening the mental models, as Charlie Munger liked to call them. Learning about all sorts of things, such as maths, physics, psychology, and history, will help you look at investments from all sorts of angles.
The last thing you mentioned is sorting through lots of companies to find things that look interesting, the needle in the haystack basically. Reading 10-Ks, 10-Qs; Buffett used to go through the Moody's manuals and handbooks, examining tens of thousands of companies.
nice
MFM brand is: The radio of future millionaires
Can you talk about Traxxas? The company is super profitable.
Just glad I’m here
Why I can’t find monish podcast they just talk about it
9:21 "if I wanna learn something, the best way for me to learn is to go and teach it"
25:23 Welcome to the world of dating for women Shaan. 🤣
In a 2 hour conversation - I mean monologue - you're lucky if a man asks you a single question.
Alright, so you HAVE TO TELL US THE HOOK for that tiktok video (I too sell there, lol)
now that I know it's gold, I'm taking it to the grave
@@MyFirstMillionPod hahaha...name your price! ...also. i can only afford $7
any thoughts on (Ww International) stock
Podcasts are getting to s-tier level
I'm too old to know if this is an insult or compliment
@@MyFirstMillionPod😂😂😂😂
Did they say Yo Gi Oh is a Pokémon type of thing ?
is it not?
this was a great episode, lots of amzing ideas and insights
We need a Ben Levy guest episode to tell his networking secrets
"be useful" (and text 100 people a day)
Indian chai with pabrai
I am that 4th friend.
MFM and Pabrai? :O
👍
@MyFirstMillionPod I am late to the game, just heard the episode. I will organize the meet up. If you are still interested I can get started today. Please let me know if someone else has already jumped on the opportunity. Thanks
What type of headphones does Sam wear in this episode? They look fancy
Pretty great. Looking forward to all of these. Also, the teaser shot in community was a winner. I thought it was going to be your Dad at first.
1st again... I'm back guys
no
no
!no
No one cares
😂
Guys you miss something important when you describe what you do with MFM - it’s not just being business curious or nerdy (w humor), you’re LASER FOCUSED on finding, and even creating, the innovative, creative, unique, competitive-advantage points that makes truly GREAT ventures so great. What makes them stand out from the run-of-the-mill.
What makes true entrepreneurship vs just starting or running any ole same-as business.
Thats what makes MFM spesh (IMHO). Keep it up 🤓
32:20 great point! I'll add, lean into people who are wired or gifted similar to you because the things they're leaning into are likely to well align with things you can successfully integrate into your world!!
Don't get lost in Leo's eyes, them you can remember your name.
Shaan Game shift
When and where is the weirdo champ meetup?
League of Introverts ™
Fourth????
Editing for this one es very weird
Lol that hubspot ad is so low quality
7.6
RPM!! 🔥
what was the hook??
I just got to the this out of my chest. I kinda love this show...
i was ranked first on league of legends ladder for half an hour like 10 years ago xD so that means I'll do something great in life ^^
greatness is within you
@@MyFirstMillionPod ahahah its insane to hear that from you ^^ abtwat if you decide to create some meetup with gamers i would fly over instantly :)
14:44 I was gonna make a weapon for the government as my side project but making a "to-do list" app won out
What is that blue oval in the background.
I would go to an event w/ competitive gamers - I’m a former pro poker player now getting deeper into competitive investing and building my content channels
“Hey Sam I’m coming down to Austin to hang out for a week and do some pods”
Silence .. then
“Sorry Pur-Dawg I know I haven’t left my house for 6 months but I have to go out of town that week”🤷♂️😂🤣
Thought Sam moved the Family to Massachusettes
@@Stiggswayonly because he heard Shaan was going to Austin 😂
2:25 🙌🏻
I know this is a long shot, but does anyone know what the TikTok hook is that Shaan mentioned?
Shaan, the event you were talking about organizing reminds me of an MFM version of The Apprentice. That would actually be amazing if you put something like that together
Those that want to learn about Mohnish Pabrai should read William Green’s excellent book Richer, Wiser, Happier
30:05 Dork Fest? It's a badge of honor ... not an insult
Spoke to ai the other day about building an agent based start up with a world class gamer as the CEO. There’s something there, related to your gamer recruitment idea. Ohh how about (if building an ai agent start up simulator is possible) pitting different types of gamers against each other trying to lead and get the most output out of their startup.. or something. Each get their own simulated company and can find some benchmarks to rate them on or they can go head to head competition long for market share… but this is a whole game I just made up that doesn’t exist… that should. So make that game. Then have this competition.
As a Doctor, I can spot the clinical signs of addiction. Now, I think I need to seek therapy - addicted to MFM!
MFM brand is clear in my mind - "The Funny Business show"
Love Mohnish
Another amazing episode guys!
I had the pleasure to meet Mohnish at the Daily Journal meeting in 2020. He was such a kind genuine person. 🤙
i was a competitive halo 3 player PVP. I now just started a small business. Im willing to do the videos editing and recording!
HAHAHA...I do the same thing - especially at golf courses. I look around and think "they should do this, I wouldn't do that, I would change the way this looks, I would teach the cart girls to upsell...etc".
1st
Second
“I spent 7 days with the richest men in Texas” is a title straight out of Mr Beasts playbook lol
Despite all the financial struggles i and my family faced, everything is finally falling into place! $47,000 weekly profit and riches I'll always praise the Lord!!!
Wow! Kind of in shock you mentioned expert, Angela danielle crowe. What a coincidence!!
Angela Danielle has really set the standard for others to follow, we love her here in the UK as she has been really helpful and changed lots of life's
Life is easier when the cash keeps popping
in, thanks to Angela Danielle Crowe services. Glad she's getting the recognition she deserves
I-started pretty low though, $1200 thereabouts. The returns came massive Joey is in school doing well, telling me of new friends he's meeting in school. Thank you Angela Danielle Crowe, you're a miracle
Any specific guide. I'm from Georgia how do I go about this? I think I'm interested how can I get in touch with mrs Angela Danielle Crowe