We chose to buy a fence franchise for $700k (all cash), underwriting:

- 18 month payback
- 3.0x 5yr MOIC
- 70%+ "IRR", although don't think that's as applicable here
- High confidence in brand & operations

Here's why we chose it 🧵👇 We have a preference for "home services" + Repair & Remodel (R&R) bc:

1) Regardless of recession, consumers will have to do maintenance on their homes/buildings.

2) Remodel/improvement on existing homes should stay strong w/ the housing mkt locked up & affordability problems

To achieve your financial life goals, you have to backtrack to derive how to get there.

Here are some examples👇:(gets interesting at #6) 1) "I like my job & want to work until I retire":

Primary concern is retirement. Be as good at your job as you can, earn good wages, invest in retirement accounts, be happy. Passive index fund DCA.

Ok this #CapitalGainsTax stuff warrants a thread because we're wading into what people misconstrue as "politics", but what I think of as "economic incentives"

As always, the reality is more nuanced than the narrative. I'll address the basics, feedback, & practical takeaways👇 1. Capital investment is the practice of putting your $ at risk in exchange for potential reward. Hence, risk/reward. The reward for putting your money at risk = "capital gains"

Ok a thread on my thoughts on the safety of the #Peloton Tread and $PTON. Here’s the video of the safety concern. The CPSC posted a much more graphic video on YouTube (dont recommend watching). The open belt has the risk of sucking stuff under the machine. 1. On one hand, all treadmills are heavy machinery and children shouldn’t be allowed near them in use (or use them unsupervised).

2. The open back design is very common, and not specific to $PTON. Woodways look equally dangerous.

Despite Andreessen Horowitz (who I revere) doubling down, I'm not particularly optimistic about #Clubhouse with $FB, Reddit, $TWTR launching live audio.

Here's why 👇

https://twitter.com/MarciSEOer/status/1383813277080117258

1) Live conversations are more attractive with creators or community.

It's why its generally more fun to meet new people in a mutual friend setting. And it's why, as a consumer, the platform isn't natively compelling without big names like @elonmusk or @chamath hosting a talk.

My #1 piece of advice I have for those seeking financial freedom is to focus on "escape velocity". Money has funny physics that we have to overcome for those of us that don't inherit wealth. Here's how: 1. Money has a "Gravity" to it. A cup of Starbucks coffee, Chipotle burrito or 1BR apt costs the same for all of us. That means in order to live a relatively ordinary single life, you'll prob spend $30-40k per year in the US. Many obviously make do w much less & many spend more.