35 Burst results for "Kagan"
Radical Left Organizations Encourage the Targeting of SCOTUS Homes
"Yesterday we talked about the group rise up for abortion, which is really just a front for a shadowy revolutionary Communist Party group. A Maoist organization founded in the 60s by bob, avakian. Now, interestingly enough, some on the left don't like that group because they call it a cult. Which seems very apropos. Now, another group that's actually getting probably more attention because they were the ones that actually doxxed the 5 out of the 6 conservative justices, Samuel Alito, Amy Coney Barrett, clarence Thomas, Brett Kavanaugh, Neil Gorsuch, is a group called Ruth sent us. Ruth sent us is asking activists to target Supreme Court Justices who may overturn roe V roe V wade with demonstrations at their private homes. Now, can we just state it? As a simple, clean fact here that you should not protest at private homes. You should not confront or get in their faces as Maxine water says, when people are out in public with their families, this is not appropriate. If you don't like somebody, you vote them out of office. If you don't like somebody, you can go on Twitter and say something mean and nasty to them. That's fine. And there might actually be free speech on Twitter moving forward with Elon Musk taking down. You do not, and I repeat, again, do not protest at private homes. I think it's just important to say that it's idiotic. It's stupid. If you're a conservative and you're considering protesting in front of, I don't know, justice Kagan's house because you think it's respect that she or one of her clerks were the leaker. Don't do it. Stop. It looks bad.
SCOTUS Must Already Know Who the Leaker Is
"We found out about the imminent overturning of roe V wade and the Supreme Court's ruling on behalf of the state of Mississippi in the Dobbs case. We found out about this from a leak. And upon the leak, there was a lot of speculation well, who's the leaker? What's the motive of the leaker? Is it coming from the left? Is it coming from the right? Well, it really doesn't make any sense to be coming from the right. Who's going to leak something like this? It's going to be someone who wants to mobilize public agitation, a public outcry, and put pressure as they are trying to do now on the conservative justices to back off to get scared to succumb to the mob, if you will. Well, who's going to do that? That's going to come obviously from the left. And so the chief suspects here are Eleanor Kagan and Kavanaugh, now it's not catan G Brown Jackson. She's not on the court yet. So it's one of those two or their clerks. Now that's a very small population of people, and it should be relatively easy to find out who did this. So I find it a little strange that even though for several days, apparently there's an investigation into this leaker, the identity of the leaker is not yet known. I suspect it is known. And I suspect that they're trying to figure out, this is the Biden administration. Remember, these are the, this is the team that does that benefits from the leak. This is the team that itself is on the side of the leaker. This is the team that wouldn't mind if there's pressure put on these justices. And so they're probably trying to figure out, how do we sort of diffuse this? How do we not, we don't want news stories a leak or cod, you know, the leak, oh, it's sort of my oral. So what if Sotomayor is clerks and Sotomayor gave her tacit blessing the clerk goes, hey, I asked Sotomayor she goes, do what you want. She can do what you think is right. Who knows what happened here, but I mean, when I say, who knows, they know. I believe they probably
Producer Andrew Discusses the Speculation Around the SCOTUS Leak
"We have been speculating on this show to what extent would the left rise up in their frustration at the leaked Dobbs decision, which demonstrated that in a 5, four majority, roe V wade, and Planned Parenthood V Casey were both going to be overturned. Alito was the drafter in that leaked decision. Now, a lot of people are speculating who leaked it. A lot of people are speculating who's going to be caught if that leaker is going to be brought to justice. Senator Ted Cruz has been speculating that it would come out of Kagan's clerkships. Now, something interesting to note here with the clerkships, each justice only has four clerks, so you've got 9 justices. You've got four clerks each. That is a very small potential pool of candidates and leakers. Now, senator Cruz says that it was likely Kagan, though he has no evidence. But based on a hunch, he believes that it was probably Kagan's because she is the most hardened partisan on the bench. Now our friend will Chamberlain, who came on the show last Friday and gave his breakdown of who he thought it was. But regardless of who the leaker is, it has set off wide street, widespread, protest, activists, and the like around the whole houses of these justices, which is despicable.
Will We Ever Find the Supreme Court Leaker?
"Let us begin by stipulating as if I have to, that the leak is terrible. It should not have happened. That is, by the way, one of the questions I want to ask you, do you think we'll ever find this person? I was talking to my talk show buddy Mike Gallagher earlier, and he said two things that seemed, it seemed like they can't both be true at the same time. He said, he believes they already know who it is because how many human beings, how many total human beings are we talking about? Who could have done this week? What are their 9 justices? They each have like four clerks, and then we get to the whole thing of do we know? Do we absolutely know? That it was a liberal clerk. And I'm still getting the occasional call. Yeah, Mark. How about if it's one M liberal justices? What if like Kagan did this or that Sotomayor? I don't put anything past anybody anymore, but that just seems like a bridge too far, an actual bit of mischief from an actual justice. But my life is full of things that I once thought impossible or improbable that are now actually happening. Ain't talk show life grand. But I'm just not going to go. I'm going to stay with the far what strikes me as the far more plausible notion that we're talking about a clerk here. Because who else is in the very tightly defined group of people who have access to such a document?
Unpacking 'The Supreme Leak' and the End of Roe
"Reported that the Supreme Court was poised to decide that roe versus wade was going to be overturned. Now this is an unprecedented development because Politico received a leak. Now we're used to leaks in Washington, D.C., leaks happen all the time in leakers are rarely ever held accountable unless the leakers of course are leaking on Barack Obama or Hillary Clinton. And so what appears to be a Supreme Court Justice clerk will get into that later in this program of who we think it is. They leaked a draft of the decision composed and written by Samuel Alito by justice Alito. Now the significance of this is, is that the decision is not done yet, is that the justices meet right after they hear oral arguments, they start to draft opinions, and the final decision, the final vote will be done based on how the opinion is written. And so based on the draft that looks like Amy Coney Barrett, clarence Thomas, justice Gorsuch, justice Alito, and justice Kavanaugh, 5 of them are going to vote against the four would be briar Sotomayor Kagan and Roberts saying that roe versus wade will be overturned. Now mind you. We'll get into the technical aspect of this. Does not mean that abortion will be outlawed as much as I'd like to see that happen. That just, it's simply means that states will be able to determine their own abortion laws. It will
Who Is Moderate and Who Is Partisan on the Supreme Court
"To give you an idea the ones most likely in order to vote with the majority Kavanaugh then Roberts Coney Barrett those end up being what appear to be the moderates right They go along to get along Then you get into Gorsuch 63% of the time Breyer 61% Okay so the net net of it is this And I'll spare you the details We have in terms of overall decisions when they're broken out ideologically Kavanaugh Roberts and Barrett the very much look like moderates that are right of center Then you have for partisan justices Gorsuch Breyer Kagan and Alito Then you have two highly partisan justices so do more Sotomayor and Thomas And basically those two are equal on opposite ends of the spectrum But what you're doing is now taking a justice that is about 12% more conservative than the most liberal justice on the court replacing with somebody who is far to the left of the most liberal justice So yes you will see the Supreme Court moved to the left when KB J takes
John Zmirak on the West's New Strategic Goal in Ukraine
"USA Today according to people from the brookings institution that quoted Robert Kagan. They quoted all these military strategies talking about the new strategic goal. Do you know Eric, what the new strategic goal is in Ukraine? I'm afraid to ask, what is the new strategic goal? Quagmire. The goal is quagmire, our goal in the west, according to these foreign policy elites, should be to bog the Russians down from years like Afghanistan or our time in Vietnam to bleed Russia out, causing enormous casualties on both sides and huge civilian deaths because this will keep Russia weak and it might even lead to the overthrow of Putin. That's what our elites care about. They care about regime change in Moscow. They don't care how many Ukrainians died any more than they cared about the nursing home patients being incinerated like shelter pets in New York State.
Mitch McConnell on Ketanji Brown Jackson's Confirmation Hearings
"Do you just expect a repeat of the Kagan hearings or repeat of the Sotomayor hearings where there are difficult questions answered, Republicans do not engage in vicious personal attacks based on rumor and you Endo and lies. And the judges confirmed comfortably is that what you expect? Yes, look, I'm not interested in what somebody may have written in justice Jackson's high school yearbook. And I think this will not be anything close to what they did to clarence Thomas and Brett Kavanaugh. I agree. I also think that Democrats hope that some Republicans overplay their hand because they're going to get, they're going to get old. Blown out in November on a variety of reasons and they're praying that the Republicans make a misstep here. It's the conference know that. Yes, we do. We do. And I think Jackson will be treated respectfully. I think the question to be appropriate and I think you're right, I think she's highly likely to be confirmed with very few Republican votes. Because of her philosophy, not anything else.
Caller: Will Justice Thomas, Justice Alito Focus on What Their True Job Is?
"I wanted to know in your opinion whether or not just this Thomas and justice Alito are going to be able to during deliberation focused the justices and what their true job is Back it into these policy decisions or discussions that they are opinion So this is Thomas is all about following the law in the interpreting the constitution Now while you're quite right and the answer is no Because Kagan is an ideologue breyer is a longtime ideologue And Sotomayor is a very stupid person and an ideologue You have a few on there who are playing games the chief justice does often I'm afraid Barrett may be in that camp will see soon enough And Kavanaugh from time to time So really the two most solid constitutionalists the kind of justices that the framers had in mind are Thomas and Alito And then Gorsuch most of the time And then the others in the case of the chief justice his decision in ObamaCare and also his conduct when it came to the Pennsylvania cases that were coming to the court were disgrace Absolute disgrace I don't trust him at all So to answer your question
Supreme Court questions controversial Texas abortion law
"Supreme Court justices are signaling that they may allow a court challenge to a Texas law that is virtually ended abortion in the nation's second largest state the Supreme Court heard three hours of arguments in two cases whole women's health versus Jackson and United States versus Texas over whether abortion providers or the justice department can mount federal court challenges to the new Texas abortion law Solicitor General Elizabeth Taylor gar Texas designed SP eight to thwart the primacy of federal law in open defiance of our constitutional structure Jody stone the second arguing for Texas said the abortion providers can't sue state judges and clerks and that the justice department had no standing conservative justice Brett Kavanaugh raised questions about the laws novel structure deputising private citizens to sue abortion providers there's a loophole that's been exploited here justice Elena Kagan suggested that ruling in favor of the providers would allow the court to avoid difficult issues of federal power its purpose and its effect is
Conservative High Court Upholds Arizona Voting Restrictions
"The Supreme Court is up holding voting restrictions in Arizona the vote was six to three the court reversed a decision by a federal appeals court that said the measures disproportionately affect black Hispanic and native American voters in violation of a part of the landmark voting rights act justice Samuel Alito wrote for the conservative majority Arizona's interest in the integrity of elections justified the measures and the changes don't affect minority voters enough to prove a violation of law in a scathing dissent justice Elena Kagan wrote the court has re written in order to weaken a statute that stands as a monument to America's greatness this will set off new calls by Democrats to pass federal voting rights legislation A. Donahue Washington
"kagan" Discussed on Noah Kagan Presents
"Work is app. Simone accompanying up Starting braun and he's like that's all your net worth. Because i hit him up hip. He's an investor in hip camp and i said dude. You're in hip kim. Let's go buy some land in like we go to hold on Your investor in subject. Should i start a newsletter and make like thousand dollars just and so. I do think there's something there about. What is your active money and your main money and what is your side money. Yeah and You know. I have to remind myself that and sounds like you know. You have the same approach which is like your main money is your real estate. I may money's map simone so it's like. Let's try to remove the amount of distractions on these other. Disorderly you can end up chasing your tail. Particularly i mean. There's there's a hard well i easy. Yeah no i think that's a fundamental problem that smart people have when business and investing is. It's very easy to get distracted by different. Things seem cool writing angel checks. There's a million things you could be doing. There's a million. I am back in my mind. I'd like to start alone. Brokerage i have all kinds of ideas about that and i'd like i have some theories about residential brokerage and i got a million different businesses that i could start or invest in or whatever but i got this piece of advice from a friend of mine who's Who's my co captain. The end of the wrestling team. He backed me for a bunch of deals in the beginning. And he's done extraordinarily well on the advice. Was this if you have something that works. Keep doing it until it stops working or you're rich very simple like super simple like do not fuck around do not like get distracted by shiny objects whatever your whatever arbitrage exploiting whatever vein. You're mining is long as that thing works you keep working and it does and i basically have done one hundred of the same deal over and over and over and over again the same deal over and over and over again. We've got really good at that deal. Do i like look at a hotel sometime and wish that i could do a hotel to hotel deal or a office building or whatever of course like i'm smart. I'm interested in creative. I want to do other things but fundamentally it's like keep chopping wood but just keep you got something that works you keep doing it until.
"kagan" Discussed on Noah Kagan Presents
"Roof. Okay so when we buy these things. We're not just like you know. Changing the countertops and painting the count. You know the the cabinets and raising the rents by fifty bucks or two hundred bucks or whatever we are gutting them to the studs and making them safe places for people to live in for the next hundred years. Let me tell you story. Los angeles has water stores. A water store is a retail establishment. Like a store okay. That sells clean water and had the way works. Is you go there with your water. Bubbler tanks and you pay them. I don't know what it is like five bucks or whatever to fill up a jug of clean water as okay. Why does that exist in los angeles like well. The reason that that exists in los angeles and then so is because you have these hundred year old buildings that are full of tenants. They have piping. That's one hundred years old. The water that comes out of the taps in those apartments is fucking brown because of the way that rent control works and there's various formulas that kind of govern how you can get a return on your investment for fixing an older building you own. It is not in the interest of any of the owners to fix that piping and so these people have to drive to a water store like they're in like an african village going to a local well or something like that. And that's like fundamentally not. That's an insane thing to be going on in the second largest city in america and it's because you have this housing stock that is really old and dilapidated and not going to be taken care of and we are the people who go in and fix that funnel thought love your opinion on one hundred thousand dollars cash now. Is it good for you thank you. It wasn't a brag a hypothetical. I have a lot more than just getting no. I'm not kidding It was like dushi but the not possession. Yeah it's fine. So i guess what. I'm curious though. Is that if i had one hundred thousand dollars do i give it to you. Doug it to whatever real estate. Do i put it in crypto. Do i put it in the stock market. Do put it in my company i guess. How do you approach. So let's say you get a hundred thousand a month cash flow from your buildings for yourself now do you think hey. I want to take this in diverse. Find it index funds or. Do you think i guess. Yeah you're thinking okay. So so i used to think when i started out in this business that i had to answer that question and i don't actually now so we'll know my point. Is that when i first started. I used to think that my job was to go to rich people and explain to them why they should invest in. My apartment building deals instead of putting money in the snp or like crypto or anyone of a million other things that you can do with money. It turns out that that's not my responsibility..
"kagan" Discussed on Noah Kagan Presents
"Gonna go through accelerates but a building where one of the tenants had very recently gone to jail for attempting to attack another ten with an axe. These buildings had security doors like a leftover from the eighties like these like wire mesh steel mesh security and there was a fucking like acts gash like in the medal security door where the guy had taken a fire axe or something and so he went to jail and then when he got out of jail i had to go meet with him and be like listen. Obviously you can't live here and the guy was super fine. I hired armed guards to come with me to do that negotiation. Because i was worried he was going to attack me. Guy couldn't have been nicer. Offered me like get high with him. I was like for while we were negotiate. It and no thank you But we ended up. Yeah we ended up getting him a hotel room from month and like giving them cash and he moved while we'll because he Did he loses lease. When you try to kill your los angeles is crazy. Like even if we could have gone through fiction on that we would have won but it would probably would've taken like five months or something and meanwhile an axe attacker like living in a building with other people so we ended up. Yeah we went him apartment for a hotel room for a month and a bunch of money and he moved out. I had another situation like that. Different building made a deal with this gangster to move out you know. We made the deal but then he was supposed to move out. But in the meantime he got arrested for threatening another one of his neighbors at the same in a different building so he goes to jail. And we're like so the move out day comes. He's supposed to move out and he's in jail so we move his stuff to storage and then he gets out of jail like a few months later like busy knocks on our door being like..
"kagan" Discussed on Noah Kagan Presents
"Can you just gotta let your most recent deal. I'm sure you'll as crazy as i'm just chris like what's most recent like would you find. Would it look like the most. Recent one is Know so we just bought this building last week. Think rough area. It's not rough area but which that one is. Actually that's mid city to and that actually happens to be in an opportunity zone and the capital for that deal came from Some venture capitalists. Who with whom we have. What's called a programmatic joint venture where they allocated a certain amount of capital to us. And we're doing. I think this is the fourth deal in that with that pool of money. So it's a vacant building that we bought like just in in some ways a complete disaster like it needs part of it doesn't have a foundation and hasn't for god knows how long nothing about it's good except it's in a locate. It's a good location. How'd you find that one was on market and we went and contract on. We want an auction to buy. We inspected it. We were like this does not have a foundation like we cannot pay the price that we will we that we had Agreed so he backed out. They went they tried to sell it to someone else. Same thing happened and then they came back to us and they were like. Hey you know we said look. We loved by the building. We just need the price to reflect the fact that we're going to spend a lot more money basically rebuilding foundation that doesn't exist so they tried to sell it to some other people and then realized actually we were right and like what we were asking was not unfair so they came back. We made a deal at a price that reflected the additional cost. We are currently just my partner. Does all the design and construction management so whenever we buy building. We have a view about what we're going to do with it. And that's how you get to that unlevered yield number. We estimate okay. We're gonna make these kind of apartments. Here's the room we're gonna get. Here's how it's going to cost. Here's how much it's going to cost to actually do the renovation to get those apartments okay when we do that. We don't necessarily have the optimal solution at the time that we buy the building. We have a solution so by solution. I mean we have a game plan that will get us to the unlevered. You'll above the unlevered yield threshold that we were looking for but then what happens is my partner starts to actually work on it and like play with different designs and frequently. What will happen is we will hit upon a solution. That's better than the one that we had in mind when we bought the building so we are currently in that process. Right now where. He's playing with designs to try to optimize once he does that. The next step is taking it through the city. Like getting them to sign off. And that's like a multi month long process of getting various clearances and engineering and all kinds of other nonsense and then when we get those permits than we probably have like a nine to twelve month construction process and then we're got to lease it up. Visit apartment buildings. Yeah this is yeah exactly. It wasn't being used. The guys we bought it from bought i think with some vacancy and then some of the other tenants moved out so the by the time that we were i mean is building as aid dump like you would not. It is arguably not see for anyone to be living. I a building without a foundation an area that's prone to earthquakes is not a good look So when we bought it it was vacant..
"kagan" Discussed on Noah Kagan Presents
"We bought a four plex in a not very nice neighborhood. the adequate range which broadly speaking. It's mid city so missing. Mris good now now. It is a wasn't good in two thousand ten now on. It's not fair. i shouldn't say it's like the people who own their homes there were like took in general take very good care of them and there's actually a very nice neighborhood feel to it like i actually was on the neighborhood council briefly there actually dislike amazing backbone of longtime homeowners. Take care of the place. Keep an eye on things. And that far it's cool but the commercial in particular like it's a lot of leakers. It's got better now but it was a lot like liquor stores and like very very cheap motels. That probably you could rent by the hour if you ask halfway houses it was just like a elder commercial areas where mass and so we bought this building and we moved in to the upstairs. It was the right thing to do from a finance perspective of a great deal. In retrospect my ex wife owns a now. We manage it for her but it was just horrible from a lifestyle from a feeling perspective. Like just coming home to a place where they are not happy about where the drive home. It's gross and the apartment itself is gross. And you're like reminded all the time like gross environment is not good for anyone. It's just like i'm that certainly wasn't the reason that we got to wash her saying but it was. It was certainly wasn't good for me. I imagine wasn't good for her there. It was just like is just. It's this really tough so so we made we made. I did the thing where you like. Make your where you live. Fundamentally financial calculus like do the smart thing financially and it ended up making my life terrible. You know obviously you have to do what you have to do particularly in. You're starting out. You know you don't have a choice. Necessarily but i think that there are enormous benefits..
"kagan" Discussed on Noah Kagan Presents
"Lands is a different way of looking at the world specifically a different way of looking at assets. Such that you can see an asset that everyone else can see and you have a way of looking at that asset that generates more return than everyone else does and once. You have a differentiated lens. You're like a kid in a candy store because like you could just buy stuff. That's on the market green burger. Who's a billionaire now. His lens was in new york city along time like forty years ago more fifty years ago. They're all these shitty apartment buildings. He realized that you could turn them into co ops. Like you could by the buildings at a price that reflected the shitty low. Rents fix them up a little bit and sell the the apartments to either to the current occupants or two new occupants and so he describes the situation where he would like look he could buy any building like because other people hadn't caught on yet he had his pick any building on the market he could buy an and it was just like it was like between picking between the one that he was only gonna make fifty percent his money in like a year or whether he was going to make one hundred percent of his money just like and is because he had a differentiated lens so we don't have a differentiated lens. That's quite as as exciting as as greenberg's but we have a differentiated lens when it comes to apartment buildings and so we are frequently able to buy stuff that other people can also see like. It's just right there like other people could bid on it and sometimes they do and we can't buy but we are frequently able to buy buildings and other people could also buy we. Can we can win an auction and turn it into something that other people can't see after we're dawn. They look at the pictures and they're like that's awesome. But they don't they just don't look at it the way the way do what are you guys saying. It's a real. It's a lot of different things in real estate. Sometimes every once in a while you might be like green burger and have like one insight that.
"kagan" Discussed on Noah Kagan Presents
"People who are going to start companies have already started companies and fund companies and that kind of stuff. It's going to go on here. Which is cool. There's a kind of a vibrancy and obviously there's growth population. Wise and city is seems compared to los angeles city seems pretty open to to allowing people to do stuff. Los angeles is incredibly hard place to do business. The answer is i don't know if there's opportunity i mean there's the people who are already here. Doing business are highly sophisticated. Smart well-capitalized so it's not like cutting in like owes a bunch of morons like these are very very. We're sitting in a building. Its own management or manage. At least by like that's a los angeles company. Those guys are the sharpest of the sharp. They're already here. They already so it's not like we're getting away with anything so we're hopeful though that we will be able to see some opportunity and honestly don't know yet like does like literally the first first day that we're driving around and are you looking at office. Buildings you can apartment complexes do you have specific areas only apartments and honestly you know we're looking all over the city because we don't know yet like there's the temptation to wanna copy exactly what we've done in los angeles here and that may or may not be the right thing to do. It is conceivable that our model that copy and pasting is the right thing to do but it's also possible that we should be building ground up or or buying low income apartments. I don't know. And i think it's probably too early to say but to answer the second part of your question. We only do apartment buildings so we don't I would love for sort of intellectual curiosity and maybe vanity reasons to tra- go do an office building or shopping center or something. I have researched those things to a very great extent add. It is not clear to me why anyone would prefer to do those kind of deals over apartments it just apartments in my opinion is to better business was 'cause i i will tell you this aas billion i hate see i am..
"kagan" Discussed on Noah Kagan Presents
"Broker or your agent and then you go work for a brokerage and brokerages. They're not paying your salary right. You kill the they train you. There's not really that much permission required. Because like they don't give assurances they're not paying you like if you have a pulse and you have a license. You're okay you worked for the brokerage right. You might not make any money if you're bad but what is if you're good and you hustle you start to do deals and when you're doing deals with you're helping people buy and sell little apartment buildings you are what a good deal is. And you're also meeting a ton of people who buy and sell apartment buildings more exactly the kind of people who would invest in apartment buildings if you found good lifespan. basically those are the two good ways into the business. One is get a job at an existing firm. They teach you. Then you go off on your own. The other more like bootstrapping way of doing it is gobi. Broker worked for a couple years. Build up some trust people find a deal syndicate it and then your life. That's interesting i'm for me. Another version of it just been surprising for me is like what are you going to be really great at to make all your money and for me. It's been tech. Like i was just born in attack. It was around it. And and that's where i was like. Oh this is where my wealth is going to be created actively but then passively another alternative is fine. People and other via other mediums so find the lawyers who work in real estate that can connect you to him so for instance. I was living downtown. In austin i was renting a parking spot. Okay and i asked. The guy was like yo you see when the do own some properties. Well actually i run a real estate firm. And i on three units here and we own like i think they own. I don't know if it's ten thousand units or some pretty significant amount..
"kagan" Discussed on Noah Kagan Presents
"I can't go in los angeles right now. And just go plunk down my money and buy a five and a half. What would you be able to get ready for or like a three and a half in real life probably so our business is the reason we go through all this brain damage to renovate the building and it's like so super painful and know all the building codes and get yelling at contractors and suppliers and all getting yelled at by city inspectors and like just like all the nightmarish brain damage. That goes around. Goes on when you try to do one of these projects. The reason we do that is because of that delta the difference between what you can get by just buying a building three and a half or four percent and what we can create by doing all that brain damage which is like a five and a half or ideally six so six percent return. Yeah it gets a little bit more complicated after that because then what we do is go. Take a loan against the property. So the amount of cash that he actually putting up as much lower series. Yeah we'll we put up a bunch of cash in the beginning and then go get a loan and take most of the cash back out but then you're still getting a higher return. Then you're these. Gosh gosh we can't do it right now because the number the way that the numbers have are working between the purchase prices and the rent and everything but for a while there in la for years we were able to buy building renovate it go to a bank get a loan and take all the money back out the appreciation or because because well because it's the forced appreciation like when we were done with the building like so let's see. We were building million. The appraised value would be three and the bank would be like yeah. We'll happily make you alone for two. And so you take the to you. Get back to the investors. Now you in investors own a three million dollar building with no money in it. It's a perpetual motion machine. It's like an atm. That just spits out money every month and we did a lot of those and it just. That's an incredible incredible business. If i'm eighteen and i didn't get rich on dodge coin and i know i get diamond hands on the ship but i'm i'm curious to follow your footsteps but i don't have the capital would is the approach to go get money from my parents and then our friends and family do it or go apprentice for someone like yourself. There's a bunch of different ways. I would not recommend trying to do a deal yourself from a standing start. Oh no you can't mean people do and sometimes it works out. There's two different ways one as you can go get a job. You probably can't get a job at eighteen. You probably probably have to go to college to get this job. Although not not necessarily you go get a job is like an analyst at a real estate private equity firm. Those are people who get paid you know depends on that market but like fifty grand a year sixty grand a year and their job is to go hunt down deals for their firm from teaches. You like.
"kagan" Discussed on Noah Kagan Presents
"Like you'll have good years and bad years but over time the rents and the values will grow. And you'll be very happy to own that portfolio as you as you get older managers a lot in there. That sounds cold. So one hundred five million. That's obviously where people get their little boehner's about our big boehner's about so i like that. You said it was really interesting. It's the most lucrative or one of the most lucrative businesses that people can go into. 'cause i remember like in high school or even college and afterwards worked intel and out here too rich dad dad books and read books. And i'm like how to do it so maybe can you walk me through how you're approaching it in austin so you're here now like how do you guys look for these these amazing opportunities. Yeah so i'll go through the math in a second but let me just say that. The reason fundamentally the reason that it's a good business and argued like the best business look the best businesses. Starting google right okay. So if you but if you're if you're not going to start google right. The next the reason i think real estate so great is one. You can use other people's money like that's the most important like we have got to the point out our deals where we don't have to put up any of our money if we don't want to we do because we like to get the returns and we also some of our investors prefer that we do et cetera but fundamentally we don't have to if we don't want to put any money up so we get to do you could buy a ten million dollar thing and have ownership in it without putting up any of your own money like that is an amazing thing. The other thing to say is and this is sort of a subset of that is if you or i right now. Went to go buy a company. You know big company and we were like we'd like to borrow You know eighty percent of the value of this asset or seventy five percent to buy this thing. Can we have it. The bank would be like. Are you crazy. Like they won't lend blackstone seventy five percent of the cost of buying a deal right like they'd be like you're out of your minds over whereas banks will no problem allow you or me to sign on a loan to buy a ten million dollar apartment buildings so interesting yeah and it has to do with the fact that you know they're relatively simple bill businesses to ron. There's hard assets like you know it's not it doesn't disappear if the owner goes away if they to close there's did they still own a building and land and so banks because they know that they can take the building back from you if you don't pay. The loan are willing to loan to an individual to go. Buy stuff so to give you a sense. I think the last time. I think that. I have signed on something. Like seventy million dollars worth of once and like you know i've at this point. I have a reasonable balance sheet but it is nowhere near seventy nine not even clubs and so like what other thing can you do. Where like a person can just like get their hands on that much other people's money to own cash ling assets in good locations. I mean that's just an unseen thing. That's why i describe it as the best business to. That's wild yes. So how are you approaching an austin. Obviously don't do it. I don't know is there a secret sucks..
"kagan" Discussed on Noah Kagan Presents
"I mean i really appreciate your perspective on lineage. And then you know maturity to find someone tucker max Said something longtime he's like you gotta to find someone going into saint trajectory at a similar rate to you in these partner solutions. It's kind of interesting way of like a free. That is an interesting way of thinking about. I mean similar ni- i have different ambition levels so we're not on the same trajectory from a career perspective. I think literally might be impossible to find someone who is more. Who's better suited to media. I hope that i'm well suited to her. How would you think she'll right you. I don't know it's action interesting question. I mean i think she's basically more tolerant person than i am so like it's easy. It's easy to get along with tolerant person right like like i. I am the one who is difficult to get along with. She is easy to get along with. So i don't i don't know but i you know. Obviously there's some reason she married me. Yeah how'd you meet her online her. We were I had this. I had a okay. Cupid profile her friend found me. It was like okay. This guy went to princeton he's real estate developers from upstate. New york i have a friend who is probably in new york went to princeton interior designer. Like probably they should meet each other saying you saw you a match. Yeah and so she reach out to me. It was like hey. I've got this friend who i think you then. Ballo amanda the match dude. Hell you yeah. It was good. It was really good. We took her out to an extraordinarily fancy dinner when we got engaged. Nice which one Which restaurant row so blue or something downtown. La i was is like went forward on the on the wine. One thing coming to the real estate stuff like what's the intro for you in general like professionally way. How how do you like describing yourself. What's the yeah so I don't know about myself but the business weren't so we're we I run with my partner. A real estate private equity firm. It's.
"kagan" Discussed on Noah Kagan Presents
"Food and The townspeople beat the shit them and so he made it back onto the truck. I don't know how and Got to the refugee camp. My father was born but my grandfather moshe was in hospital kidney failure from the beating that he had received the eventually made it to israel about five years later but he was in the hospital there and he died when my dad was real young from the attack from the attack. Yeah he was basically never the same. I mean they didn't have higher. Aren't they had kidney transplants. I don't even know if they had dialysis back when they certainly didn't have it in israel and so anyway so he didn't really know his his memories of his father but not a lot of them and Anyway so i'm named for his father. So i kind of always felt like I feel deeply connected to that family history as a result of my name. Ps when i was in israel the first time we went to the cemetery and petite fell where he's buried it says on his gravestone mo- chicago in hebrew which i can read and it's like that's a that blows your mind like yours name. Yeah my name not you. Yeah yeah on. A gravestone in israel is nowhere in tcf is suck buying a soccer field. I don't know. I don't. I actually don't remember where it was. Okay because my dad's buried out in pedic tikva near iran nana which is like close by and it's out in like duma fueled. I don't remember at all. I mean i remember driven there but yeah but i don't i don't remember that and then how how do you say you're barely survived the holocaust do you know well. He was so. My grandmother was a nurse in the partisans on the resistance. My grandfather. I think he was sent by the russians to siberia and basically was like in. What are these like work camps in that survived the war and like a work camp in siberia. Pretty wild show. I mean is it. Yeah these crazy stories man. That's wild and then your mom wanted something to commemorate her her at her dad's dead. That's my dad's dad. Actually my son my seventeen month old son. Leonard is named after my mom's dad too. I have a real sense. I feel extraordinarily connected to my family..
"kagan" Discussed on Noah Kagan Presents
"And so even. Though i couldn't do i was terrible at the stuff that you do as a junior investment banker like the accounting financial modeling stuff. They were typos. My power points. Like i was a disaster at that but it turns out that if you're if you can get senior people meetings that result directly in revenue. That's all they really care about. You can hire people to outing. Bullshit will you can't do is you. Can't find people who know how to make the cash register ring. And so i had a couple of years of that. And then what happened is that My bonus demands became increasingly outrageous. And they had like a. Because i was sitting there and going like if i'm going to be involved in revenue generation here. You can't pay me. You know of forty k bonus like that is it was a deal you did for example like we i helped bring in and i do not want to take full credit for this at all like it was part of a team but i helped bring in a deal one year. We're so this is a tiny back. This is like a. it's just tiny little boutique. And maybe that year the entire revenue the the company was like ten million pounds and i helped bring a deal that year that i think did like six or seven of the ten and they were like okay. Here's a forty grand bonus. And i was just like all right guys like come on you. Know and their perspective on it understandably was like look. We're not gonna break our whole salary structure and pay some little shithead. A huge like you have a family you know we have people senior people who who do have families and so that did not sit well with me. At that time. I wasn't going to sit around and get paid very tiny fraction of what i was bringing so anyway so i basically made aggressive bonus demands. They were like please reconsider it. I was like you know if you don't pay me..
"kagan" Discussed on Noah Kagan Presents
"We made a ton of mistakes and we can talk about that too but the net result was that after climbing that mountain. By the time. I was like thirty thirty five thirty six. I realized that like not only had i crossed that horrible like i had crawled across the glass. But also that i could do it again like i now have. I know how to make money. You could drop me anywhere with no money. Probably in any city and i could figure out how to make money in real estate. That is real confidence. that's not fake bullshit. Prep school dip shit confidence. That's like i have skills that could feed me in a family and ultimately would allow me to replicate what we've already done again. That was it for me. That was a big part of the growing up. That was that was a real growing up outside proving to yourself yet. There's some of that because obviously the psychology of the fake confidence pieces like you're projecting this image of knowing everything and being so smart and whatever but you actually haven't done anything in your or at least iowa's acutely conscious of that and so now it's a different thing it's like it There's a real feeling of like. I said just be able to replicate it and what we're having in your twenties. Oh let's see so. I did I graduated college twenty three i graduated. Llc when i was twenty four. I thought it was going to be a lawyer and I was living in london during my time with one of my best friends. Who at the time was helping this. Billionaire by classified. Advertising media ios auto trader magazines. Okay so those are actually not anymore but they were spectacular businesses. They were little local monopolies rate. Like imagine you like the guy who had the most read a little magazine to sell used cars so imagine. You're the guy who owns the most red little free magazine to sell. Used cars in warsaw in poland or it doesn't matter pick a city. No one wants to advertise their used car and like the second most widely read classified advertising thing right. It's a little iguana. Beware all that liquidity. You want to be the one that's advertising the one that's got the most readership so each of these things like little local monopolies in each little city. All over this guy was buying them in france and italy and eastern europe and my friend was helping them and it was an amazing business. He had a french publicly traded company that traded at like twelve times prophets. And my friend would go buy some like local little monopoly like printed cash in. Lithuania would buy it for like six times profits. We're supposedly it's instantly. It's worth double as soon as the profit from the local..
"kagan" Discussed on Noah Kagan Presents
"Your children on partner selection given you. You've had an experience with one that didn't work out. And then you you found a new partner and then we'll talk real estate money all it's also the license. No no this is a good. It's a good question. it's something i've thought about a lot. i think. Put it this way. The right relationship actually. Here's a great time with real estate. The right relationship is a compounding asset. In other words you both get better individually. Is you get further into your career and you get wiser and more mature and more knowledgeable and you have a kind of a deeper and longer term perspective. Those are all things that happened to adults as they get older. I think that's like a natural good part of getting older. So your both your individually going through that process of self improvement and also the synergy between the two you. If you're in the right relationship the relationship itself is getting better too as you invest in it and you have all these good memories together and also go through hard things together and all that stuff so i guess what i would say is when you're in the right one. It should feel like over time. Everything is improving and building on on what came before one thing. I wonder what that in terms of. How what do you think you've chosen differently or have you observed your partner now. I was talking with a good friend of mine a few weeks ago. And he's he said anything. Rewarding is challenging. Which i went on dates with some challenging people. As like. i don't know if i wanted to. I think it's challenging enough to stay happy together with someone for very many years. Yeah i don't know if it should be challenging. Yeah i mean. I find with my with my wife who is just a wonderful person. We're we've a lot. It is going to sound weird but it almost felt like we were from the same family. When i mean by that is our backgrounds are so similar like we didn't obviously we didn't know each other growing up or anything but i kind of like almost felt like i knew her family before i ever met them like i was like. Oh you're the type of people that were at the faculty parties that my parents used to drag me too. When i was a kid my pet died was a college professor. And we go to our department. Faculty means there's always interesting people like weird electronic musicians and people doing interesting sculpture and all that stuff and they you know this is upstate. New york right which is not in general the most educated part of the world but these are all college professors. They're all all read interesting stuff and their traveling interesting places and they're vegan when no one's even heard what being vegan you know before i even met simmons parents i was like. Oh these people are are like. I know what they're like. They use tom's toothpaste. I don't mean to make malagueta. But i mean they're they're just like an her. You saw her you saw. She's the byproduct. Yeah they're also from upstate. New york although a different part. And she and i went to the same college. And we're both like anywhere you turn from a preference perspective view as both of us what What restaurant we like to go to. We're both gonna like the same restaurant or both gonna like like traveling to the same places. There's a lot of crossover like that when you met your previous partner. I wasn't great at the time. And then over yeah. It was just different. It's and she's and she's great. She's english and they're like a lot of cultural differences and i also exactly like she was a wife and i just like i was too immature to be to be a great partner for her. Honestly no duman. Yeah man. I was like we got married pretty young. I was twenty seven when we got together and like i..
"kagan" Discussed on Noah Kagan Presents
"Go for it now i i'll say having children as well or not gonna say anything like profound here but it's a it's extraordinarily and painful and expensive and also incredibly amazing and wonderful and like the best thing you can ever do so Strongly recommended i was really hoping to be straight that you'd be like oh they suck and like they'll never gonna listen to show anyways so i was just i mean it's it's it's a coming. Where like if someone showed you this as an investment right and it was like okay. Why are you okay. Here's an investment. Where you're gonna go massively negative from the second. The kids born suddenly everything about your life gets worse no question you can put sugar coat it but like basically you're not sleeping you're paying a lot more money you and your wife are like at each other's throats a little bit about who's gonna take care now to be honest my car relationship things have actually been much easier in part because we have a lot more money than than i had going through this But yeah it's really hard so from like a life happiness perspective things go massively negative okay and then the do start to improve and if and if things go well if you dodge you know all the terrible things that can happen with children both physically but also like just in terms of dumb luck. Because that's i mean they. Can they get something. Bad happens to them. That ruins your life right. So it's just an investment where like it's negative and then if everything works out as they age into adulthood and beyond. It's amazing i think. Having adult children is like the best thing about my father's life. He he loves it right. He's got his grandchildren. Now the whole thing frigging amazing but you have to dodge a bunch of bullets along the way. Yeah i definitely have heard that. And i think there's been studies is what people white people listen to. Npr always. there's a study you know one was that you're happier with once you get your wife or partner husband happier overall but the net is actually negative with the children piece. Yeah i mean it. It's just really hard and you're not and the thing is like i said it again. I'll repeat it like it sort of like you. Love them so much that if something goes wrong even like w can control they get hit by a bus or or or they fall in with the wrong crowd and they end up being you know drunks or who the hell no. yeah like. it's completely outside of your control and yet it will entirely shape your life like there's no way to detach yourself from it so if i pitched that you as an investment. It's certainly going to be terrible for awhile. And then if everything goes okay then eventually twenty years from now. It'll be awesome like i'm not sure you would sign up for that investment rationally like worse like we have urge to procreate and all other stuff so but anyway glad that we enjoy sex because we enjoy sex. It'd be it'd probably would be no kids who are coming back on that for just a second. One thing that i've been wanting to to learn and be honestly be taught in school as partner selection and so i don't want to go into the divorce. I grew up in a divorced household. But i am curious. How would you advise.
"kagan" Discussed on Noah Kagan Presents
"A future so lever view wherever you listen to this. I check every single one of them did how are you how is life. Who is moses. Kagan what's going on Lights good my partner. And i are visiting austin wife or your business sorry could question Business bar is a very modern idea. I know it is true true. And and i have i have i have an ex wife to two wives. Well i knew one actually not not at the same time But yet my business partner. And i are here just really checking out. Possible deals very very early in the process and we get into this more but We have historically only bought properties not only just in los angeles but like only in place six neighborhoods in los angeles. So everything we've done we've ever had one hundred buildings all in like six neighborhoods. It's quite a triplet. Say to to be looking somewhere entirely different okay. Yeah we'll definitely get into that so let's just talk about being a keagan. Now we're both kagan. We are both kagins. Are you a cohen kagan. Because there's the cohen kagan and i'm the non cohen kagan. So i mean. I don't know for sure. But kagan is is miners. And you you be correct me but my understanding is that kagan is basically the russian translation of the of the of the name cohen. Yeah so Yet my family's all like eastern european jews almost exclusively from russia. So yeah. that's where we got it. Did you grow up being. Like i'm kagan. There's other of kagan's out there. I needed to meet them. When i saw you online. I was like that's my brother. My mother always was like. You're all related like she. She's not obviously. She's not a kagan shoes. A kertzman by that name comes from my father. obviously but Yeah no she always like made it clear that that was like that we were probably related to every other kagan. I was on a date recently. I'm single. I don't have any ex-wives yet. I hope i never used to joke..
S14E15 Tanks Crash Clash - burst 01
"Hello and welcome. Once again to the open to podcast is season. Fourteen episode fifteen and is tuesday the fifteenth of june in this episode. We're going to be covering the goings on in the community some news headlines and some events and join me as ever are martin. Hello and allen. Hello and we also have a special guest this week joining us fresh from the up into voltage livestream easter language. Hello thanks for joining us against you. Can well martin. And what have you been up to. Recently been learning davinci resolve. And walt is davinci resolve Davinci resolve is a video. Editing compositing audio editing suite that competes with adobe premiere pro and final cup pro. You mean it competes with kagan life. No complaints i have to. I appreciate the most of the people listening to this show. We'll have listened to your previous show a week ago or whatever but i only need to catch up on it to die so less than two hours ago. I was admonished by martydom impressed for using katya low rather than shot. A now you're used to the timeliness of this announcement. I stand by the shock. Ease the best open source video editor on any platform. But i've been editing video recently. And i needed to do some more. Clever things didn't think they were clever and twelve looked into it. Anyway it turns out you need to do things like wrote to scoping object tracking and stuff like that all things that these professional tools can do. Actually quite trivial. I imagine you can do it in blender. If you're blend a gold but i am not that hand on on you can do. You can do vote scoping in kenya and live for stop. Not good fear are no for members. Jesting the it's not going to be as convenient as a proper toll but also describing you can do. I'm surprised you can't do them in shakai. If he's genuinely the premier way of accessing the melting. Well i may. It's i couldn't find the options. I wanted but pa of this was also i. You hear about people say compulsively switch to lennox. Because i need the adobe creative suite on when you look at what davinci resolve office for free because
Supreme Court Rules Against Immigrants With Temporary Status
"The Supreme Court says thousands of immigrants living in the U. S. for humanitarian reasons cannot apply to become permanent residents a unanimous High Court says federal immigration law bans people who entered the country illegally and now have what's called temporary protected status from seeking green cards the case hinged on whether those people were actually admitted to the U. S. under immigration law justice Elena Kagan says they were not writing for the court in a case that pitted the Biden ministration against immigrant groups who argued many of the people in question have lived in the U. S. for years and put down roots the house has passed a bill making it possible for TPS recipients to become permanent residents but the Senate prospects are unclear Sager make ani Washington
Supreme Court says California cannot restrict religious household gatherings
"The supreme court rules in favor of religious worship. I'm ham who sell fox news. The high court tells california it can't impose cova contain restrictions on home based religious gatherings. The state had indoor social gatherings to no more than three households but the majority on the court said the state was treating secular activities like grocery shopping more favorably than at home religious meetings. Liberal justice elena kagan wrote the majority on. The court was hurting the state's ability to address a public health. Emergency fox's gel nato. The court's ruling is essentially moot though because california plans to loosen restrictions on. Indoor gatherings on april
Google Ultimately Prevails Over Oracle in Java API Case
"The. Us supreme court has ruled in google's favor in that big. Copyright dispute with oracle over the use of java api is basically with a six two two vote the justices overturn what had been a big oracle lawsuit victory coating cnbc. The case concerned about twelve thousand lines of code that google us to build android that were copied from the java. Application programming interface developed by sun microsystems which oracle acquired in two thousand. Ten oracle sued google over the use of its code and one. Its case twice before the specialized. Us court of appeals for the federal circuit the supreme court reversed. the federal. circuit's decision justice steven brier. Who wrote the majority opinion. In the case reason that google's use of the code was protected under the copyright doctrine of fair use quote. We reached the conclusion that in this case where a user interface taking only what was needed to allow users to put their accrued talents to work in a new and transformative program google's copying of the sun java. api was a fair use of that material. As a matter of law brier wrote brier was joined by chief. Justice john roberts and justices sonia yar elena kagan neal gorsuch and brett cavenaugh justices clarence thomas and alito descended and quote so this is huge huge news in terms of software and coding law basically. Api's to some degree are now fair. Use and therefore not copyright -able
Justices say accident victims can sue Ford in state courts
"In favor of car accident victims who have wanted to sue Ford. Maybe she's Aaron Khutor ski explains to accident Victims one in Minnesota and one in Montana sued Ford in the states where they're accidents occurred. Ford tried to get those cases dismissed, arguing the states had no jurisdiction because the cars were not manufactured in them. In an opinion written by Justice Kagan, the Supreme Court said, when a company like Ford serves a market for a product in a state and that product causes injury in the state to one of its residents, the state's courts may entertain the resulting suit. Roughly 14% of US
How to Know Exactly What to Work on in 2021
"One of the biggest mistakes i've done in the past and i've seen a lot of entrepreneurs do is if they have too many goals right they try to achieve too many things and therefore they don't know what to work on. They don't know what takes priority. They say that everything's important. We want to have a bigger market. Share we wanna grow more customers. We want to be more profitable. You wanna have more revenue. We wanna lower costs. They want more free time. They won't more Autonomy they want to hire more people they say all the stuff we wanna do all and this is what makes it difficult to choose what to work on because certain things will help you which one of these goals. But the things won't this makes it difficult for you to know what to work on. Because you don't know what takes precedent what resources you need to spend or us on tasks or projects. It can get really overwhelming. So i want to challenge you as we start this year to reevaluate. What your goal is for this year. A want you to choose one goal one focus for the entire year. I mentioned this before. This is something. I learned from. Noah kagan who was employee thirty facebook and he learned this from mark zuckerberg and facebook. They have a singular goal. Now that goal may change from one year to the next before the year. that's all they focus on one singular goal for them. It was growth for them. When noah was there as employees thirty it was getting as many users on the platform. Now what's great about. This is that any time they make a decision what to work on the just have to ask the question. Does it help achieve their singular goal. If it does they do if they don't they don't now of course it's going to be a lot of gray area in between we'll talk about that in a moment how to evaluate. What are things will get closer to that goal or not but none of this is possible if we have too many goals and it's a lot easier if you just choose one goal now this is where the fun part comes. You get to choose what you want from this year. No remember next year you can choose a different goal but just choose one. What is the one thing that if you achieved it would make twenty two one success for your business. Maybe you want to take home on more profitable. So profitability is our goal maybe actually your array profitable and you're really happy with that level profitability. And now you wanna make your goal reaching more people so growth. If you're let's say your fitness coach you want to double the amount of people impact now as you could see. I'm choosing goals. That are quite broad but at the same time they're specific to a certain outcome so be careful. Don't choose things like. I want to improve my blog. Well why do you want to prove was wrong with the right now. Well i wanted to be like this. Why do you want it to be like this. Well i wanna attract new customers. What's the point of attracting new customers. While i want them to convert wanna grow my customer base so is growth customer growth. Really what you're looking for. That's really the goal because Improving your blog is a task right. It's one of the tasks you my focus on this year to help you with growth but really improving. The blog has an end goal. Really go deep. What's the end goal. So now that we have one goal one focus for the year We make that a big bold statement. This is what we're shooting for. Okay now there's a ton of things you can do to achieve a particular goal. Let's say for example We're gonna use facebook's growth goal. They want to bring in as many users as many customers as possible. They have users because they don't really sell a product they sell advertising. But the point here is that. Let's say you're trying to bring in as many customers as possible now. Remember if that's the goal you're willing to do things to achieve that goal meaning may be lowering your prices to get more customers or running more sales or more offers or doing partnerships or spending money on marketing. See the point here by something. Are you going to spend something to get that ultimate goal so your goals growth. Let's say what are the things that you can do this year in your business to help grow your usery's to bring more customers in one of those things might be. I wanna start a youtube channel. One could be. I want to create a free course on my website so people can opt in get on my email list and convert them into customers in other one might be marketing campaign. Where i'm gonna do weekly deals on my products and services another might be. I'm gonna launch an affiliate program. So i can get to bring in customers for me so these are just a list of projects that you can just do a brain dump in document the title. Today is lessons. What do you work on. But we're really specifically. What are you work on now. Next all that kind of stuff. So i'm gonna tell you what year do with this list if you have a team and if your soul preneurs let's start with team and this is a concept that we borrowed from the people at basecamp jason freed and david hammer hanson or the team members ryan singer wrote a book cults shape up a highly recommended if you're in the software business but it's their way to decide what to work on to improve the product product management but the concepts in there can be applied to any business and while it console wanna share with you today. They'll help you choose. Is this idea of pitching and betting ideas. So for example i wore ninja. We have a goal and we have a list of ideas of ways. We can achieve duggal new features new initiatives all that kind of stuff and people in the management team are responsible for creating a pitch for each idea. So each of us will take on two or three pitches. What does the pitch. It's basically a message aka document Inside a base camp that just really advocates for why we should do this task why we should take on this project so for example somebody might say you know if we want to grow our customers. We have free plan. So they'll you know right up a few paragraphs put some thoughts. Maybe some sketches and say you know what this is why. I think we should work on the free plan I or next. And everybody will do their pitches and will throw them into basecamp which is a project management tool and we'll all read these pictures and then one day we meet together on a video call and we do what's called. The betting table is what they call in shape the bedding table and allows us to bet we get to our for what we should and should not do as a team we collectively say you know what these tasks are the most effective things we can do to get a sore goal and in this exercise as a team we discover which things we should do first second third throughout the year. Because we're gonna work on the things that were going to move the needle. The most i now even if you don't have a team maybe it's just you. Maybe your solar moore. You can still. Do you. Still write down your ideas. Ri- some details about these ideas. Why you think they can help your business. This exercise of advocating for this idea and writing it out. It's not just for fun okay. It's not just to go through the procedure by writing things out it forces you to really think about. Is this really something that's going to help. Not just on the surface ideas on the surface. All seem all k. They seem like good ideas but often when we have to defend these ideas and explain why they can really allow us to achieve our goals or our singular goal. In this case we start to realize Maybe there are other things that are better to do. Maybe not as an effective ideas. I thought it was. Or maybe it's a good idea but it's a nice to have not a must have so even if you are solar newark right down the reasons why these ideas should be implemented and then once we have all these pitches for yourself you can score each pitch from one to ten one. Being least effective and ten is most effective in terms of achieving your goal. This will allow you to at least have a rough way to kind of score each pitch and then order them based on how effective they can be to help you achieve We're looking to do year.
Should I create multiple revenue streams?
"On. Today's cuny wednesday. Sheva asks should she sur building multiple streams of income as she starts working and making money online. And just for clarification. You know many people advise this like have multiple streams of income like make money on affiliate marketing but also make money with a product Also make money with the service and also make money through sponsorships and just basically trying to make money in so many different ways as much as possible. Now in theory having multiple streams of income is not a bad idea. It's bad advice. But if somebody told you start a business with this mindset with a strategy i would actually classify that as bad advice when you're getting started your whole goal should be to get a win to get some success to have one successful stream of income often. We don't recognize that our energy is limited. Our attention is limited our times ltd. And if we are spreading our focus against different initiatives at the star it'll be very hard for us to get traction and quickly get a win for our business you're goal should be to be profitable as a business to see something works. You can double and triple down. And then maybe that process in a different stream of income a different way a different product and a different service but a lot of people are trying to get five or six win simultaneously and. I don't think that's healthy. That's not a good use of your time. Your energy your effort. I want you to imagine you have five shopping carts filled with groceries. Okay and these shopping. Carts are all lined up at the start of an aisle in the supermarket. Have five cards five miles. Okay and your goal is to get all these shopping carts to the end of each aisle. Okay you only have a limited amount of energy and time so imagine you go to the first car and you push a little. Maybe a few feet. Then you go to the next car. Then you push the next one a few feet down the aisle then the next car then the next car. And you know maybe some time goes by and none of. The carts actually reached the destination. Never succeed never gets to the finish line damage to the exercise but you know. Instead of focusing on five cards you focus on one car. You spend all your time pushing that card down the aisle you get further down the aisle because you're not switching one car to the next you know wasting your energy on carts you're gonna get further along the i feel because your focus so what. I'm trying to explain here. Is you're going to more of a win if you focus on one thing now. This isn't mean you don't try different things or experiment or you can Do small projects or mvp's to figure out what you wanna do but once you are trying to make money you're putting product out in the market. Once you're past the mvp phase you really have to focus and double and triple down so you can get some momentum when you're starting as an entrepreneur. In my opinion it's incredibly important to get momentum to get a win to really feel a sense of success because that begets success. The helps you get success successful in one area. It's going to allow you to be successful in other areas so crossed the finish line. Some wins earn some income. Be profitable have a successful business. I with a product with a service with something that you really really excel in build the system around build the team around and then you can move onto another stream of income another business another product and do the same thing again. What happens to a lot of people's take this advice. When they're starting they try to build all these streams of income. None of them really move the needle. They make a few dollars here. Few dollars there and they ended up giving up on entrepreneurship together because in total they don't have a significant win because they're switching their attention back and forth from one thing to another they don't have enough resources to hire out and frankly they just get tired is a whole easier for you to gain success and to really have some traction in your business if you focus on one thing once you have a viable product that you know your customers want take the time to improve it to perfect it to have a good sales funnel to get the business to a point where you can start again building system in hiring people around you so they can run it for you so they can run and do the heavy lifting and you can just manage and you can just be the strategic planner of his business and then you can move on again to the next product the next service or something that actually helps her supplements that business if you look at any entrepreneur the has multiple streams of income Very very often. It will mean that they built one before the other for example. If you look. At noah kagan he first started app. Sumo absuing became successful. He took that success and then built another company called sumo dot com which is a software company then took that success and built king sumo and then from king sumo he built other products like san fox and fam but very seldomly. You will see a entrepreneur again doing all of this at once. Even ilan moscow's quote unquote the poster child for multiple streams of income. Who has tesla and spacex and solar city a lot of people forget that hughes one of the co founders of paypal and he was able to fund spacex and tesla with the money earned from people's acquisition. So he focused on alwin. He got a win. I and got some funding. So that's my advice yeshiva. Everybody who's listening. This is going to be a huge huge relief on your stress levels. Now that you can just focus on one thing and just see that thing through the finish line say finish line. I mean a profitable business at. You're happy with the sustainable that allows you to again higher outta team and then move on to the next stream of income.