From youth, we're taught to earn, not to create wealth...

The contrast in truths to financial freedom can teach us much.

THREAD: 10 powerful contradictions on $, life and sovereignty:
🔥Financial hell is just a definition, written by other people.

Sartre: hell is a tiny hotel room w/ 3 others.

No fire, no brimstone.

It's simply allowing others to shape your reality.

Wealthy = reality shaper.
More wealth does not = more freedom.

"Contentment is natural wealth, luxury is artificial poverty." ~ Socrates

This is the law of diminishing utility.

Your power is in knowing how much is enough.
🆓Seek freedom TO, not freedom FROM.

Most seek freedom from working, or from worry.

Real freedom is freedom to ->
work as you want, with whom you want.

Not all freedom is created equal.
Enjoy Little, Need Less

Learn to not need it, you'll find you don't want it.

Desite my earnings I buy less than I need.
- 1 car between us
- rent our places when not there
- cook more than go out
Risk > Safety

To take no risk, is to let inflation nibble at your money until it disappears.

Risk is the seawall that holds inflation at bay.
Biggest Problem = Ourselves

Most go broke to look wealthy.
Instead of living cash poor to become wealthy.

Most sell when they should hold.

Tame yourself, achieve freedom.
Simplify to Multiply

Financial freedom isn't complicated.
- spend less than you earn,
- invest the surplus
- avoid bad debt
- leverage good debt

Be able to define and act on these.
Rules create freedom

Most have no rules for how they spend, earn and lever up.

"Search men's principles, and consider the wise, what they shun and what they cleave to." - Aurelius

Create rules, decrease poor decisions.
Net worths are not definitions

You will never know if someone is an asshole until he becomes rich. - Taleb

Commas and $ signs can't define a human.

Although we strive for it, never become it.
Pursuing $ is > Pursuing fame

I trust the man out to accumulate wealth more than he who chases popularity.

Money doesn't require cow towing.
My guardrails:

-Use until it's inefficient
- Never buy to impress
- Ask often does it bring joy
- Spend to earn before spend to own
If you enjoyed this,
- sign up for my newsletter for mental models to:
- free your mind & your bank account

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More from @Codie_Sanchez

21 Jun
How to Get into PE/VC w/o a job or experience?

The land ofthe gilded loafer isn't just for those from Ivy's 🧵
#1 Go where they already want what you're selling.
- Bunch of us on z twitter looking for SMB, RE, storage deals & employees

If someone finds me deals/operators in my target. I'd pay 'em.

Who can you solve a problem for already in the space?
#2 Find deals, get paid
- You could get a % of carry (profits)
- Or a finders fee for the business
- Or even a position as a scout if you find a lot
Read 6 tweets
17 Jun
We've ALL had deals go super wrong.

1 Deal did 500% return in 3 years, and this early 1 also went to ZERO

A THREAD about a deal of mine and the dark side of investing in SMB business...

Invested in a very small CPG company to take a large minority position.
- $50k invested
-$50k in debt
- $$$$$ in time & stress

This was a TON of $ for me.
(Dang that's still a lot of $, I hate losing $20 bucks)
My Pain in 60 Seconds:
- the company went to $0.
- lost all the $
- ended up ruining my friendship w/ the founder
- wasted a year trying to fix it
- now can’t even look at this type of food 🤢
Read 8 tweets
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)
#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)
Read 12 tweets
15 Jun
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.
Read 4 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

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