In my 20, I started working for my dad’s business, and I was making 35 to 55 thousand dollars a year, but I had no expenses. I didn’t go on vacations. I didn’t buy fancy things.
A lot of you think it’s just imperative to make 100,000 dollars from the start. You’re wrong. You have so much time.
So I saved my money, and I saved my money and I saved my money some more. And then when I was 33 and 34 I had hundreds of thousands of dollars. I didn’t have millions. I had hundreds of thousands of dollars. I didn’t own a fancy car, or a watch, or a suit for that matter. I kept my expenses low. I hadn’t bought a home. I was still living in an apartment.
I was 33 years old and I was renting an apartment because I was saving cash to go on the offense. And so when I had a chance to invest in those companies, I put hundreds of thousands of dollars on the line, not millions, but those hundreds of thousands made millions. They made tens of millions.
And so, that’s it. Nothing crazy … I didn’t have any ridiculous unfair advantage or leverage. In fact I had so much less than so many of you coming out of Stanford and Harvard and Penn with the contacts and the network and the money. I didn’t have the internet! You people are growing up in the greatest era for entrepreneurship of all time. There are literally kids who have an iPhone and 600,000 followers, or millions, even....it’s just insane!
But the point is this.
There’s a lot of people that make 55 thousand dollars a year when they’re 23. The problem is they go to Coachella, and they want to buy a watch, and they want to buy a BMW, and I didn’t. I ate shit for 13 years, and then when I had an opportunity I struck. I’m ultimately patient. It’s what I do.
Are you willing to put in the time and wait??
A lot of you think it’s just imperative to make 100,000 dollars from the start. You’re wrong. You have so much time.
So I saved my money, and I saved my money and I saved my money some more. And then when I was 33 and 34 I had hundreds of thousands of dollars. I didn’t have millions. I had hundreds of thousands of dollars. I didn’t own a fancy car, or a watch, or a suit for that matter. I kept my expenses low. I hadn’t bought a home. I was still living in an apartment.
I was 33 years old and I was renting an apartment because I was saving cash to go on the offense. And so when I had a chance to invest in those companies, I put hundreds of thousands of dollars on the line, not millions, but those hundreds of thousands made millions. They made tens of millions.
And so, that’s it. Nothing crazy … I didn’t have any ridiculous unfair advantage or leverage. In fact I had so much less than so many of you coming out of Stanford and Harvard and Penn with the contacts and the network and the money. I didn’t have the internet! You people are growing up in the greatest era for entrepreneurship of all time. There are literally kids who have an iPhone and 600,000 followers, or millions, even....it’s just insane!
But the point is this.
There’s a lot of people that make 55 thousand dollars a year when they’re 23. The problem is they go to Coachella, and they want to buy a watch, and they want to buy a BMW, and I didn’t. I ate shit for 13 years, and then when I had an opportunity I struck. I’m ultimately patient. It’s what I do.
Are you willing to put in the time and wait??