#76 with James Altucher - Making and Losing Millions Over and Over Again

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 20 May 2020

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today's episode is possible because of Superside! Head to www.superside.com/mfm to hire a dedicated team of designers for your project! Joined our private FB group yet? It's a page where people share each others million dollar ideas or what they're already working on: https://www.facebook.com/groups/ourfirstmillion. Today, Sam (@thesamparr) and Shaan (@shaanvp) chat with James Altucher (@jaltucher). James is an entrepreneur, hedge fund manager, podcaster, writer and stand-up comedian. He has founded and sold companies for millions and lost his fortune over and over. He's always found a way back and today he shares all the lessons hes learned along the way. Today's topics include: (1:50) James talks about his background (6:05) James explains the companies he started and how he made his money. (19:10) James became a much better investor when he started investing alongside much smarter investors. (21:30) The challenges of selling a company. (29:14) James explain why he kept losing his fortunes and what he did to start managing his money better. (32:48) How James’ happiness fluctuated as his fortunes rose and fell. (38:35) James discusses what he does today — writing, podcasting, investing and stand-up comedy. (40:00) James discusses his investment and risk management strategy. (45:30) James tries to come up with 10 new business ideas every day — he explains his process. (51:00) How would you make money if you were 21 again? See acast.com/privacy for privacy and opt-out information.

Transcript

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0:00.0	All right, there's this amazing book called Getting Everything You Can Out Of All You've Got.
0:04.9	I read it a few years ago and it changed my life.
0:07.8	And the reason I loved it was because it basically talks about how to get and make more money
0:12.7	using things that you already have.
0:15.1	Coincidentally, today's podcast is brought to you by Business Made Simple.
0:19.6	It's a podcast by Donald Miller, who I'm going to tell you about in a second, but he has
0:23.3	this amazing episode that's all related to this book and the things that I learned in this
0:26.9	book.
0:27.9	It's called How to Make Money With What You Already Have.
0:29.4	It's an incredible episode.
0:30.9	It talks about all the stuff that I learned in this book.
0:33.2	The host is Donald Miller.
0:34.7	I didn't know who Donald Miller was up until recently, but over the last 12 months, this
0:37.9	is totally by coincidence.
0:38.9	There was all separate people.
0:40.2	They said you have to check out Donald Miller.
0:42.0	He's amazing.
0:43.0	So I'm happy that he's part of Howspot's Podcast Network.
0:45.5	You can check it out.
0:46.5	Business Made Simple Podcast.
0:47.9	It's where he coaches you on how to build your business like an airplane where the cockpit
0:52.1	is your leadership, the body is your overhead, the right engine is your marketing, the left
	...

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