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My First Million

Michael Girdley: Why Fireworks Are A Cash Cow and How to Operate a Holdco Worth $100 Million

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

šŸ—“ļø 28 June 2022

ā±ļø 60 minutes

šŸ§¾ļø Download transcript

Summary

Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) talk to tech investor and entrepreneur Michael Girdley (@girdley), about selling fireworks, how to hire great CEOs, and what it takes to operate a successful holding company. Also, want $5,000? Check out the My First Million Clips contest. ----- Links: * Michael Girdley * Near * Alley Corp * Zola * Black Rifle Coffee * Pop Sockets * Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel. * Want more insights like MFM? Check out Shaan's newsletter. ----- Show Notes: (05:00) - How rich are you? (08:55) - Which business is the best cash cow? (15:40) - Waste paper mill in China (21:30) - The anti-advice of Berkshire Hathaway (27:05) - Hiring great CEOs (32:50) - What it takes to run a holdco (56:40) - Unpopular opinions ----- Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. ----- Additional episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto * #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • ​​​​#218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

Transcript

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0:00.0

Which business is the best cash cow?

0:02.9

Is it like you know the fireworks company where it's like well?

0:05.8

Yeah, it's open like three months a year and it just prints

0:09.3

Prince profits for three months and then we like don't have to think about it for the nine like

0:12.8

Yeah, which business is the best one and why is it fireworks? I feel like I could rule the world

0:29.8

Michael what up dog Sean, where are you your Tahoe? I'm in Lake Tahoe. Yeah, how's it?

0:36.9

It's amazing. Yeah, this place is great. Is it just a getaway from crypto?

0:41.1

No, it was a father's day trip. So you know came out here with my wife's family and

0:49.8

Yeah, it's been cool. It's been like at the lake in the pool all that good stuff. That's awesome

0:54.4

Who so you Sean you want to introduce this guy? Yeah, okay great. So we got Michael

0:59.3

Gurdley is that the way you say it? Yeah

1:02.0

Yeah, Michael's here. I've been following you on Twitter for a while and

1:05.2

And and I think you almost want you almost bought our NFT for the five minutes of aim, but

1:13.0

You got out big at the last minute. Is that right? Yes, yeah, I had a whole plan about it

1:18.6

I was actually gonna shard it and then try to make profit from it and sell in a 15-second increments

1:23.8

But some really rich crypto person came in and swooped it out from under me

1:28.1

So sam loves huge plan. I had a huge plan

1:31.4

And and but you but it worked anyways. You got on the pod anyways without it because

1:39.8

You're a pretty interesting dude up if I'll you a Twitter

1:42.8

Mostly because you tweet about chile's a lot and I'm a big chile's guy huge chile's fan

1:47.9

But you also you kind of fit into this sort of like Andrew

1:52.1

We'll can see the bucket which is like you run a hold co and you run like a pretty big hold co

...

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