Sam Parr
@thesamparr • 384,340 subscribers
Started/sold some startups. Founder + president of Hampton @hamptonfounders. Host My First Million podcast on the side.
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Videos
On MFM I asked Scott Galloway how much money it actually takes to feel economically secure. He gave me the formula and then his own number. - Take what you need to be happy each year. Times it by 25. Assume a 4% post-tax return. That's your number. - His own burn: $300k to $400k a month. - $5m a year times 25 means he needs $125m to be economically secure. He said in his 20s he thought if he ever saved $1m he was done, he'd start writing scripts for Tom Cruise movies. Then he found out how expensive kids, New York, and your own greed glands get.
Sam Parr2,065,429 Aufrufe • vor 2 Monaten
You a founder doing $3M+ in revenue? I'll put you in a room with 7 other vetted founders in your city to meet once per month to talk about the stuff you'd never post publicly. We're so confident in our vetting process we have a 60-day money-back guarantee. Wanna join? Apply.
Sam Parr4,876,966 Aufrufe • vor 5 Monaten
I found a guy running a newsletter about farming that does about $18m a year. It goes to 30,000 to 40,000 people paying around $600 a year. Congressmen, senators, hedge funds, and big trading groups read it. And it's basically just him writing it, with a staff of about four.
Sam Parr67,108 Aufrufe • vor 6 Tagen
Running a company is wild. One day you feel unstoppable. The next you're convinced it's about to fall apart. And you can't tell anyone. That's why I built Hampton. We match you with 7 vetted founders in your city who get it. So you're not figuring it out alone. Wanna join?
Sam Parr2,159,525 Aufrufe • vor 7 Monaten
Lloyd Blankfein has been in the room with world leaders and billionaires. What he noticed: - "There are very few geniuses. I don't know if I've ever met one." - The most powerful people finish talking and ask "how did I do?" - A lot of them run on insecurity "People are a lot more normal, and a lot more insecure, than you think."
Sam Parr485,084 Aufrufe • vor 2 Monaten
During the 2008 crisis, Warren Buffett put $5B into Goldman Sachs on basically a handshake. Lloyd offered to first walk him through everything he was worried about. Buffett: "Lloyd, I know you well enough to know you worry enough for the both of us. I'm taking my grandkid to Dairy Queen, just figure out where to send the money." He asked for one thing in return, no contract: don't sell your shares until I sell mine.
Sam Parr451,418 Aufrufe • vor 2 Monaten
In 1983, CBS profiled Larry Jolton, the #1 shoe salesman in America. He sold $423,000 of shoes by hand in a town of 38,000 people. - never took a lunch break (ate burgers in the shoe rack between customers) - worked 4-5 customers at once - delivered to your house, your office, or found you on the street - Salesman of the Year three years running
Sam Parr419,083 Aufrufe • vor 2 Monaten
My father owns a produce brokerage company. He sells +$10m a year in onions a year with a phone, fax machine, and file cabinet. TLDR: - he calls farmers and will buy two or three truckloads of onions - then organizes a truck for pick up - sells the onions to Walmart or some other chain like that. I made a video about it when I was at his office, and on Instagram it got like 3 million views in a week. He was so pumped. And no, he doesn't make $10m/year. The margins are tiny. But its just him + 1 person in office. Put me through college debt free and has always driven a fat Mercedes! Originally, he worked in a grocery store in the produce section. Then had fruit stand on the side of the road. Then did the white collar move and started a brokerage. I was in 4th grade. It was funny because he started the business in summertime, and the AC of the office was expensive, so he used to work barefooted without a shirt and his Docker shorts. It's been like 25 years now, and he's sold over a quarter of a billion dollars' worth of onions. His CRM is a binder. He has two phones, a file cabinet, and everything is done with checks. There's a computer on his desk, but to be honest, it's for when he uses Facebook, YouTube and visiting The Chive. And there's a baby playpen in the office so his co-worker, who he has hired, can bring her baby to work. The video was only 60 seconds long and people loved it because they were shocked that you can build a really good lifestyle with simplicity.
Sam Parr812,492 Aufrufe • vor 5 Monaten
When Lloyd made partner at Goldman, a senior partner gave him the rules of the road. The one that stuck: "Live a life where your obituary runs nine paragraphs. And make sure no more than three of them are about Goldman." His take now: "That's not going to be the case for me. I stayed too long."
Sam Parr376,697 Aufrufe • vor 2 Monaten
Former CEO of PayPal + Inuit Bill Harris on Moneywise today. He broke down his portfolio and expenses (and what it was like working w/ Elon + thiel. - Net worth: ~$100m. Divorce cut it roughly in half - ~$50m in operating companies he's starting, ~$25m diversified securities, ~$25m bonds. No PE/hedge/alts - "absurd fees" - PayPal/eBay exit: personally "more than 20 million, less than 50" - Personal Capital: sold to Empower for $825m with $23b AUM; his take was north of $100m post-tax - New venture: ~$10m of his own money in - Total annual burn: ~$70-80k all in, property tax included ("well less than a hundred thousand bucks") - No mortgage (cottage paid off), no car, bikes to work - Owned a ton of stuff (houses, cars, planes). Sold it all because it took too much time to maintain.
Sam Parr28,834 Aufrufe • vor 6 Tagen
Replit's CEO on the months right before they blew up: - Lost half the team. 120 people down to 60. - Had just moved into a huge new office. Empty, cold, dark. - Every morning he knew someone was gonna walk to his desk and quit. - "You can see it in their eyes when they stop believing in you."
Sam Parr357,070 Aufrufe • vor 2 Monaten
Tommy Melo has a $1b garage door repair company. His sales rules: - You never say the cost, you say the investment - You never say the most expensive, you say top of the line - You never say the cheapest, you say builder grade - You never say you can cancel anytime, you say you have the right of rescission His line: these words matter.
Sam Parr255,986 Aufrufe • vor 2 Monaten
DHH told me on My First Million that he and Jason kept a data scientist on staff for over a decade to crunch numbers and run reports. - "We never did what the numbers told us to do." - "What we would do was we would do whatever the hell we wanted to do." - "And then if the numbers supported that, we'd go, those are good numbers." - "And if the numbers didn't support that, we'd go, yeah, I don't know. There's probably some factor you haven't calculated in." ha!
Sam Parr275,148 Aufrufe • vor 2 Monaten
The co-founder of Loom sold his biz for ~$1B, made $50-70M personally, then walked away from an extra $60M He has “no income right now” and is “looking for internships”... Vinay Hiremath has a wild post-exit story. we talked about it on Moneywise: -Turned down $60M in retention bonuses that would've vested over 4 years -Said "the trees spoke to me" during a redwoods hike when deciding whether to stay. He wasn’t joking. -He had a post go viral about his identity crisis after selling (1.5m views) So I asked about his money situation now: -Monthly spend: $25K (with $12K on NYC rent) -Net worth allocation: 50% cash, 30% equities, 20% bonds/other -Most expensive post-exit purchase: iPad Now he’s studying physics 5-8 hours daily, hanging in Discord groups with 18-year-olds who think he's their peer… looking to intern as a mechanical engineer (can you imagine the founder of a billion-dollar company being your intern?) On the pod he explains why he’s betting his future on physical products instead of software and investing… The full episode is live now. Check it out.
Sam Parr1,984,990 Aufrufe • vor 1 Jahr
DHH thinks grinding is dumb. What he told us on My First Million: - "I often hear entrepreneurs talk with such pride in their voice. Yeah, I grind. This is why I'm working a hundred hours a week." - "I don't want to do that. My life is far too interesting to waste it grinding." - "Grinding is the stupid shit you do in World of Warcraft when you're a peon."
Sam Parr232,660 Aufrufe • vor 2 Monaten
Mark Pincus wrote a $38,000 check into Facebook's seed round. He says it's worth around $6b now. On My First Million and he told us there's nothing brilliant about that. There were only 3 seed investors in Facebook: him, Reid Hoffman, and Peter Thiel. Anyone who could have written that check would have made the same investment.
Sam Parr168,332 Aufrufe • vor 1 Monat
Mike Novogratz on how he made a fortune in Bitcoin: he and his partners bought it around $96 and could hold it for years, because they were already rich. A young guy who turns $10k into $100k sells. His girlfriend wants a house, his friends tell him to take the win. They didn't need to. His line: "Getting money and a network makes making money so much easier. It's almost unfair."
Sam Parr189,861 Aufrufe • vor 2 Monaten
Right before Ring sold to Amazon for 1.15b, I asked Jamie Siminoff what he was making. He said about $150k. He'd prided himself on being the least-paid executive at the company. At a company doing $480m, that meant charity dinners at $10k a table he couldn't actually afford, so he was spending more than the salary anyway. He told me he had basically zero dollars, no nest egg, and all his future money was in Ring.
Sam Parr133,315 Aufrufe • vor 1 Monat