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A founder made seven figures, then lost it funding friends' startups and bad ideas. He argues getting rich and staying rich are different skills. There's plenty of advice on earning money, almost none on keeping it.
A founder made seven figures, then lost it funding friends' startups and bad ideas. He argues getting rich and staying rich are different skills. There's plenty of advice on earning money, almost none on keeping it.
When the money's rolling in, when things are going well and you're on top of the world, you think the good times will never end. And unfortunately, I acted like the good times were never going to end. And so even though we were making, you know, multiple 7 figures per year, I was deploying capital into startups and my friends' businesses and essentially every harebrained scheme that anybody brought across my desk. I was going to be their first investor. You know, I say that hindsight being 20/20, but the fact is no one gave me a playbook on how to be well healthy. There's a lot of people out there teaching us how to get rich or how to make money or how to build a business. But there's no one out there teaching us how to be rich.
