Hollywood, Advisor, Zach Main discussed on Meet the Press

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The executive producer of the top rated sitcom, the big bang theory as well as an investor. Let's talk a little bit about your really terrible relationship with money as you have described it. When you were growing up explain that. So I. My parents were teachers and so we always had enough money but wasn't money that was being saved. And so when I started to work in Hollywood, I had some money and I, I, I didn't know what to do with it. And I think from the very early days, I would always read the business section to try and get worked up to look think about what's bad stuff could happen. And there's lots of bad and there's lots of bad stuff and their screens and screens of it. And so I would I describe myself on the writing staff as the chief warrior because I knew enough to get scared about the Asian currency markets or what's going to happen. And I how is the Asian currency more? The good news is it doesn't matter. My new philosophy. A long-term investors. So I don't care, right? What happened? So in other words, what happened last Tuesday's not relevant to your retirement. If exactly. So for me, it's a it's about if I've, what's your time you must talk about your clients all the time. What's your what are your goals, but your time, horizon, if you are thinking about twenty years from now, then what happens in today's markets? I'm telling people look at a long-term charter, the market, the single worst day, the nine hundred eighty seven crash twenty three percent. One day crash on a bit long term chart. It's like a little wiggle you barely even see it. Although while you're in, in it the world is coming to an end. But that's just a function of perspective. Exactly. And I think that there's this problem that I had, which is even after I knew that I didn't internalize it. There's kind of a moment when you start to see how all this stuff fits together, and that's. When you have the ability to start feeling better now, not just not feeling like okay. I have enough money or I've, I'm going to be okay. It's more like I have confidence in this approach that I've taken and also. Being comfortable with the uncertainty. So let's talk about that, 'cause there's a line that you wrote quote, the markets haven't changed. They still go up and down the difference is I don't anymore. So how did you get from that process of worrying about where the yen was to hey markets volatile they'll fluctuate but I can't be bothered. So I was a mess. So I had my I had my retirement in cash and the Alito nine happens, and it starts everything starts to tank, and I think to myself, I've been waiting some thirteen for this is the end of the world. I knew it was going to happen, but it wasn't the end of the world. And it was around that time that I read this article about Gordon Murray, who was writing called the investment answer in his race against cancer. He was trying to finish the book before I think it was brain cancer. And so it was extremely moving article ordered the book on Amazon before it came out. I read it and things click for me in a different way to say understanding. How the market works being a long term investor and no one ever talked about having a fiduciary investment advisor. And once you realize that there's somebody who's on your side, who's not trying to make extra money and every single trade and they're being your partner for the long term, I sought out an adviser and it's funny I once I met with him. I said, okay, I'll give you a year to see how it is. So it proves. I didn't really know I wasn't really alive. Cold months once is enough. I, I heard something amusing you had you had your agent and his brother was an adviser. And you said I've given enough that family enough money. Exactly. Right. So CA is one of the leaders, see as Brian Lord and his brother Blaine Lord. His name is also an advisor already given ten percent to the Lord's eleven. That's really that's really funny. So, so you're, you're looking at. What is at least by traditional standards a fairly substantial salary. However, there's always the risk. Hey, we could get cancelled anytime who knows if the show is going to get picked up. How do you deal with that sort of uncertainty? You have to be fairly, risking bracing if that's the career choice. So this is what I realized, which is when I became a second rider, because I saw my friend, get a job on cheers after a year and a half. I totally miss priced risk. I thought going into Hollywood was going to be a lot easier and a lot more stable than it was. And once I got there, I was like, oh my God. This is a mess. I went to meeting accountant once and he said, okay, well, what's your what, what kind of income, can you expect over the next five years? I said, well, well, I might never work again. So zero or I might syndicator shows two hundred million dollars. So it can we budget for somewhere in between? Paralyzing paralyzing for a long time. And the difference for me is getting on their side of it and saying hold on a second. We know risk reward or related to be afraid of that, or we can try to make a little piece with that, and so much of my life. So much of everyone's life is. How do you reduce risk mitigate? How do you try to make everything seem to make more sense in as a storyteller? I've always telling myself stories either to get racked up in nervous or try to calm down, and it's hard. But I think trying to get comfortable with that unknown is, is really powerful. I can imagine. So before we leave the investing space, I have to ask you have a patent how on earth did that happen. So I have a couple of friends from college, and this was we graduated early nineties, and we had this, I, we always wanted to start a company and so all of us were at the beginning of our career and John's train, who's now this internet law, professor at Harvard. Is a big big deal. He had this idea, which was wait. He was a colleague or friend of you defend from college. So, so it turns out, it's like this guy showing men who he just sold his company's at target and. Zach main in who runs a neuroscience institute in Portugal, and me and Zach and Mary Lambert, who another college friend who worked at Google and the thing that was incredible a couple of things that were fun. It was a great chance for a stall to be together in this idea for the patent was could there, be a way to communicate without having to talk and without having to type could there be a touch based way of communication. So if you and I had a bracelet. You know, we give it a squeeze. You say you know what? When this interview rather rather than me, giving you a sign when we wanna break to go get a snack. Just give me a squeeze. And so you'd give me a squeeze or you'd be able to tell your kid would say when it gets school, I'm going to give you a squeeze. And so it was a, a half. Dick way of communication coming up, we continue our conversation with Dave.

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