YouTuber @realMeetKevin bought a $13 million private jet.

The government covered his down payment and paid him $1.2 million on top of that to buy the jet.

Here’s the stupid math of how much people can save in taxes on a private jet.

(Cont.) If you bought a private jet in 2022, the government would give you bonus depreciation on the full value of the jet.

That means @realMeetKevin got a $13 million dollar tax deduction by buying his plane.

At a 37% tax rate, this is deduction is worth $4.8 million in tax savings.

Gumroad is the ultimate example of startup B.S.

2012: Gumroad raises $8.1M in VC money.

2012-2019: Gumroad fails to achieve hockey stick growth.

2019: Investors take the write-off and sell Gumroad back to the founder for $1.00.

(cont.) 2021: Gumroad raises $5 million in crowd-funding money at an absurd valuation.

December 2022: Gumroad 4X's prices and its founder tells people they are going to move toward slower growth, profitability, and being bootstrapped.

Being a good boss is hard.

Here’s a few things I learned about managing people in the last few years.

🧵⬇️ #1 - The easiest way to be a good boss is to develop a great business with a high-profit margin. If your margins are 60-70% (as ours are), it's really easy to pay everyone what they are worth and then some.

Non-profit consolidation will be an ongoing trend in Sioux Falls. Let's talk about why (a short thread).

siouxfalls.business/lss-names-new-… Non-profit mergers to date:
Washington Pavilion + Orpheum
Zoo + Butterfly House
Startup Sioux Falls + Zeal
LSS + Multicultural Center
(And some others that I've forgotten about)

I've invested $10 million in real estate in the last three years. Here's what happened.

⬇️ At first, I had no idea what I was doing or how to get started. I had previously only invested in syndications. So I found a mentor (@zwireless) who could show me the ropes and what makes for a good deal and what doesn't.

Forever I thought hard work was the secret to success, but I was mostly wrong. Turns out the real secret to success is:

Hard Work X Leverage X Time.

Let me explain..

The Acquired Playbook. Twelve rules from @AcquiredFM for success in business and in life.

A thread… 🧵🧵🧵 1. Optimism always wins!

Sony was founded in 1946 in the ashes of post-WW2 Japan. There was no market demand or consumer technology in the country. GDP per capita was $17 and 50% of Tokyo residents were homeless. Yet they built one of the most iconic companies in the world.