Sam Parr argues real estate attracts more "dumb rich" people than any other business. You can collect rent while golfing, he says, but running a tech company demands constant work, a sharp team, and the ability to spot opportunities most people miss.
We always make a joke that real estate has the highest number of dumb rich people. Dumb like a fox. If you own a great piece of real estate, the tenants have to pay the rent even when you're playing golf. But when you're running a complicated technology company or something else, you gotta be out there and working every day. Your team has to be really good. It takes a different kind of unique smarts. It's not an easy game. They may not people who have the same intellectual pursuits that you are, but they can go and smell an opportunity in a way that most other business owners don't
