25 Years Of Founder WISDOM In 55 Minutes (ft. Jason Fried)

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 5 June 2024

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode 593: Sam Parr ( https://twitter.com/theSamParr ) and Jason Fried ( https://x.com/jasonfried ) open up about personal finances, raising kids around wealth and dealing with risk. — Show Notes: (0:00) Sam and Jason play Would You Rather... (5:15) Loosening the grip on the stick (12:35) The pale blue dot (14:03) Why does the businessworld deserve our best lessons? (18:30) Early days vs. vs. middle days vs later days (24:47) "A founder's job is to inject risk" (29:36) “Cool wears off but useful never does” (31:07) Striking balance with a business partner (34:14) The value of talking about money (37:28) Navigating luxury with kids (40:08) Midwestern values on blast (43:39) The truth about luck (46:55) Staying up vs. staying off (49:45) New insights from old biographies — Links: • [Steal This] Get our proven writing frameworks that have made us millions https://clickhubspot.com/copy • The Most Important Thing - https://tinyurl.com/9ym3xw5b • Peter Lynch books - https://tinyurl.com/2nf87pzb • The Pale Blue Dot - https://www.planetary.org/worlds/pale-blue-dot • The Messy Middle = https://tinyurl.com/2paw5jmk • Sam’s List - http://samslist.co/ • Newspapers.com - http://newpapers.com/ • Pessimists Archive - https://pessimistsarchive.org/ • Grab HubSpot's free AI-Powered Customer Platform and watch your business grow https://clickhubspot.com/fmf — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth — 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): https://bit.ly/SupportShepherd 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

Transcript

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0:00.0	My job as a founder, it's to inject risk into the business.
0:04.5	You can get away with certain things that other people simply can't because you own the damn plates.
0:08.5	I feel like I can rule the world. I know I could be what I want to. I put my all in it like no days off on the road.
0:17.0	All right, today's episode, we're going to talk about things that interests us. One thing that I tweeted out the other day. I wasn't
0:25.1	surprised by this result, but it still made me sad. I tweeted out, I said,
0:31.7	if you could guarantee a 7.5% real return for the rest of your life every year,
0:40.0	guaranteed.
0:42.0	But you can't invest in any individual stocks forever.
0:45.6	However, you can start your own business and I think I even said you can, but you can
0:50.2	only invest $10,000 into that business.
0:52.3	Or you can invest $10,000 into that business.
0:52.7	Or you can invest actively.
0:56.6	You can't really buy the index,
0:57.8	but you can invest actively and do whatever you want.
1:00.3	Some days, maybe or some years,
1:02.0	maybe you'll get plus 50%. Some years you're going to get minus 50% which would you choose option A or B
1:08.0	40% of my 300,000 followers selected option B and you replied and you said option A all day, easy.
1:16.7	Why did you select that?
1:19.2	Well, to get 7.5%, like with no effort and you're guaranteed it's a no-brainer. It's an
1:26.8	absolute no-brainer for me. I mean now I've got a business I have a lot of
1:32.0	risk in my own business so that might be part of it as well like I don't I have all the risk there
1:36.9	so let me ask you this were you intending this to be like someone who's 21 years old
	...

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