meta_pixel
Tapesearch Logo
Log in
The Playbook With David Meltzer

1 Bad Assumption Can Ruin 100 Right Decisions

The Playbook With David Meltzer

David Meltzer, Entrepreneur.com

Business, Entrepreneurship, Careers

4.91.9K Ratings

🗓️ 27 September 2019

⏱️ 22 minutes

🧾️ Download transcript

Summary

Hey podcast listeners! Today's episode is critically important to our decision-making process. This is a lesson I wish I knew earlier in life and I hope it challenges you to consider the assumptions you make in your personal and professional life. I'm so grateful for all the feedback and content/topic suggestions I've received from so many of you, please keep them coming to me on Instagram or Twitter @davidmeltzer. Timestamps: 2:08 - we're accountable for the assumptions we make 4:40 - what if we assumed that we will live forever? 10:00 - study the assumptions you make in the most critical parts of your life 11:54 - our assumptions may not be in our best interest 13:25 - most people have a problem with receiving 14:45 - when you change your assumptions, your reality changes 21:15 - don't overthink it

Transcript

Click on a timestamp to play from that location

0:00.0

What I want to talk about today is let's take a step back from reality and maybe start looking at some assumptions that we're making about very important things in our lives.

0:12.0

This is entrepreneurs the playbook. about very important things in our lives.

0:15.0

This is entrepreneurs, the playbook. Our perception is not in our best interest.

0:19.0

And that kind of was puzzling to me because I was under the assumption that if I could control my perception

0:25.2

then that would be in my best interest. And exploring assumptions I

0:31.7

started realizing that a lot of problems in life

0:36.4

are that we overthink things in the respect that we take on assumptions but don't think about the assumptions we're taking on.

0:43.1

Let me explain.

0:45.1

One of the best things that's ever happened to me is I lost all my money.

0:49.0

And people always asked me, well, how is it you were the CEO of the most notable sports agency in the world who came out with a sports illustrated article about 75% of all athletes go bankrupt two and a half years after they're done playing and you have a law degree

1:03.5

from a great institution top of your club all these great academic things and

1:07.5

how is it that you lost that much money? What it came down to is the basis of assumptions is that I had always made money but I made one assumption with my money.

1:19.0

I assume that because I had equity in property that I always would be able to borrow against it because what bank wouldn't give a secured loan?

1:29.0

Right? And in my assumption I had, because I was still very young,

1:34.4

ever realized that banks could get into trouble.

1:37.9

And a bank could literally say, well,

1:40.6

you might have $40 million in equity, but we don't believe a few years from now

1:44.7

it's going to be 40 million in equity or even more even if we do believe that we'd

1:48.4

rather keep that money at this time because we're about to go bankrupt. And that's what occurred to me. That's what happened to me.

1:57.0

That's how I ended up losing all my with a variety of other things, but I was accountable

2:02.1

for the assumptions that I made

2:04.4

without truly doing any research or asking any help or figuring it out and I

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from David Meltzer, Entrepreneur.com, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of David Meltzer, Entrepreneur.com and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.