How fast did Venezuelan $ become worthless? (PS I was there).

May 2015 bolívar lost 25% value in week; $300 = $1
May 14, $400 = $1
May 21, $500 = $1
July 3, $600 = $1
Feb 2016 $1k = $1
Nov 9, $2k = $1
Nov 21, $3k
Feb 2018 lost 99.6%, 25k = $1

Today $248k = $1
In economics, things take longer than you think, then happen faster than you think.

Don't be left holding the last Bolivar. Asset up.
This was a tragedy.
Started by incompetent politicians
Finished by idealistic citizens

I saw it happen in Venezuela & in Argentina.
My business (and all expats) kicked out of the countries.
Our clients carrying their belongings.
Businesses stolen from owners.
Run into the ground by "nationalism."

Story as old as time.

Hope we learn our lesson.

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More from @Codie_Sanchez

16 Jun
PE/VC Terms 4 DUMMIES, a 🧵

When I started in finance, I had to google what a mutual fund was.
Not my 💡moment.

How bout I save you the embarrassment of doing what I did & asking if I had to "carry" something when they said I got carry... 🤦‍♀️
Top terms to know (so u sound supa smart):

#1 Equity kicker
- Aka a sweetener
- An option to buy equity...
- At a discounted price...
- Bc u invested in a company today...
- Like when they throw in hot dog when u buy a car (same same really) Image
#2 Full ratchet 🔧
- If company u invest in goes down in value...
- 🔧 for preferred shares protects u from...
- Getting diluted (aka owning less of company) Image
Read 11 tweets
13 Jun
5 things turned a newsletter I did on the side for 10 hours a week, into a 7 figure business with a bunch of businesses shooting off of it.
#1 Give me your money first. Do a founders offering
Before you spend time on creating any business, test the market. I ALWAYS test the market

I don’t care for opinions. I care for your dollars. we start with a pre-sale before we even have the product.
#2 Choose your price, then add a zero to it
I ALWAYS underprice. It’s a personal fault. Don't be like me.

I found the more we raised the price, the more we sold, and THE FEWER CHARGEBACKS and HEADACHE we had

Don’t be afraid to price higher!
Read 9 tweets
9 Jun
How do you oversee multiple businesses?
How do you make sure you're growing?
How do you focus on the right things?

I get asked these questions CONSTANTLY and

SCORECARDS: A thread on how I oversee 15+ businesse's at a time, 1 snapshot at a time:
First up: There are probably MUCH better and fancier ways than all of these...

Keep it simple, stupid. There is no exact right way I can show you.

Goal is --> what gets measured gets managed
So you wanna run a media biz?
Scorecard that got us our 1st 25k followers at Contrarian Thinking.

Grow Baby Grow - Marketing spreadsheet
Read 6 tweets
7 Jun

1st Why?
Out of a job for a year is NORMAL
- 60% of American adults live with chronic illness
- 42% have more than one
- 1/4 Americans will have a disability (That’s 61 MILLION PEOPLE)
Even for us young hustlers:

- 1/4+ of today's 20 year olds can expect to be out of work for at least a year bc of a disabling condition before they reach retirement
And yet we SUCK at saving:

65% of households lack a mere six weeks of take-home pay on hand.

37% of respondents unable to cover more than a month of normal spending.
Read 6 tweets
6 Jun
Can't believe I'm saying this...

I'm actually concerned we may default on our national debt.

Anytime a country has gone to 130% det / GDP it has been a metaphorical point of no return.

The country has defaulted, a 🧵based on an industry report that got me humming.
Story time: Over the past 200 years

98% of nations that hit 130% defaulted on their debt (usually through inflation.)

Japan is the only one in 200 years that hasn’t defaulted BUT

Japan is rare...
Japan is a nation:
- in budget surplus (i.e. they run a net profitable biz)
- internally funded (i.e. they buy their own goods)
- with a Net Int’l Investment Position (NIIP) of +70% of GDP (aka they save a lot, and can ask for their $ back from other countries i.e. US.)
Read 5 tweets
5 Jun
Investors as Influencers? It's a thing now

I want to invest in a portfolio of "influencer investors" & their funds

Who do I need to know??

*Even Investors worth $46 Billion are getting "influencey"* A 🧵
Investors are going to increasingly become influencers IMHO



Leverage is the multiplier

If you REALLY like a deal, you don't just go ALL in. You go 110%+ in.
There are four types of leverage:

Labor + Capital + Code + Audience

Audience is the new kid on the block.
Read 8 tweets

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