Nicolas Cole argues in a short YouTube clip that spending and investing in yourself is a learnable skill. He critiques some entrepreneurs for taking pride in extreme frugality—continuing to live like they are broke—and warns that this can limit growth. Cole advises trusting yourself to make larger investments when you expect a clear ROI, while clarifying he is not endorsing lavish spending.
Spending money and investing money in yourself is a skill. And you can see it with people that make a lot of money, but they still have spending habits as if they were broke. You know, they constrain themselves. And I think a lot of entrepreneurs or founders, they almost take this pride in, you know, I don't drive a nice car. I drive a Prius, you know, or I didn't get the nice apartment. I still have my little quaint one bedroom. And that's fine. Like, I'm not advocating for lavish spending, but also, you have to realize that in some way, you're also holding yourself back because you're not building the skill of going, I trust myself to spend 68 grand because I know I'm going to get an ROI from that.
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