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About 2/3 of Americans should not be entrepreneurs, and the reason is that they are unable to make the first step. If you don't have the ability to take risk, you'll never be a successful entrepreneur

The reason I don't hire consultants is that after 2 years they get that virus, they're just generating opinions, they're not doing anything

I don't know if you're born an entrepreneur. I think that you have events that occur in your life that are jolting to you, and every entrepreneur I talk to that's been successful has that defining moment. I remember this moment in my life, and I remember what happened to me, and it just changed my direction. It's like a meteorite in space, knock it off course a fraction of an inch, and 100 years later it's a billion miles in a different place

If you're hungry for money, I guarantee you'll fail 100%. If you start into entrepreneurship and all you care about is getting rich, you will fail, you will fail miserably. Every entrepreneur that achieved some massive liquidity, they don't even remember the day it happened. They just woke up and said “oh, my goodness, I'm filthy rich.” But they weren't calculating for that. It is because they created something of such value that someone else said “well, we want to buy that business”

It's the passion of loving what you do, and getting up every day, and working, willing to work 25 hours a day eight days a week, because you love it so much, you love to compete. That's how you become free. It's about not about the pursuit of capital, it's a pursuit of Freedom

The whole idea is personal freedom, that is the American dream

Every minute of the day people are going to chase you with stuff, you're going to get a thousand ideas, they're going to call you, and ask you to do stuff. If it's not on the task, it's noise, and you have to just push it aside. Those are the great entrepreneurs, they don't deal with the noise

I'll make this industry better by offering a better product that people have to compete with

The journey of watch collecting is actually a disease because you don't really need a watch anymore. You get better time off your phone. But a watch, both for men and for women, it marks certain points in their life

When you start a business, you're no longer number one. You start hiring employees, they're on top of your shareholders, your bankers are on top of you. And on top of both of them are your customers, they're number one, they'll always be number one. You are at the bottom of the stack, because even though you own the business, you are working for everybody above you

You have to understand that there's different phases in an entrepreneur's life. There is no balance in the early days, and I think you're fooling yourself if you think there is, which is why I say “you better love your idea, you better love your mission, you better love your product, you better love your customers” because you're going to have to spend an enormous amount of energy on it, and you're not going to have a balanced life. If you're successful, that's when you buy your freedom

How big can it be? Just think about how important it is to ask yourself this question in every opportunity

When you have enough capital, you can start to say to yourself “well, I'm going to fly first class now, because I’ve earned it for myself”

My most valuable asset is my time

Spending a lot doesn't mean that it's a bad investment

You should spend money on good food for your body because that actually makes you much more productive, I don't eat crap food anymore

Either you treat food as medicine, or one day you'll be taking medicine because you ate shit food

Burning hours and making no money. Why would you do that unless it's a hobby? Otherwise you're just a loser

You don't have a gut feeling till you failed a lot. The Intuition or the gut feeling is experience

A third of you are going to fail in 36 months, you're going to get fired, a third of you are going to go into mediocrity as consultants, and a third of you going to work like hell for 10 to 15 years and maybe make it as an entrepreneur

The arrogance you have when you're young and you've never felt the sting of failure is unbelievable, and only life can beat the crap out of you and make you have experience, that's the whole idea

Even though you don't know, that's why you got to invest in a whole bunch of deals, because it's the ones that you think are going to be great that end up being turds

We actually studied this, we went back and looked at 7 years of data, trying to figure this out. We learned that if you want something done, give it to a busy mother, because they juggle a lot of things in a small startup company. But the real secret sauce was in setting goals, growth goals that were attainable. Their average growth rate was only 17%, versus men in our portfolio 30%, but they only hit their target 65% of the time, and women hit them 95% of the time

I decided a couple years ago to start wearing a glucose monitor, even though I'm not a diabetic, just to learn which foods spike my glucose

If you spend your life spiking your glucose with sugar, your propensity to develop dementia goes up geometrically

If you look at Mediterranean people and their diets, Greece or Cyprus, people walk 40, 50.000 steps a day, they eat two meals a day of salad and fish and olive oil olives, and they don't eat any sugar in their bread. That diet is crazy healthy

You got to stop drinking 3 hours before you go to bed, you just kill your REM if you do

Every minute of sleep is valuable

We put too much sugar in our bread

My advice to anybody in their 20s is think about what you're doing to yourself every day

The reason you don't get a deal, it's not your product, 90% of the time it's you. You suck, you can't communicate, you have a personality nobody wants to work with, it doesn't look like you can take the idea and execute it. I don't have to like you, but I have to believe you can execute

When life offers you that moment, you got to step up, there's no optionality, there's no starting again, there's no second chance, you either deliver it or you don't

The role of the government is really to be pro entrepreneur. That's what I believe because that's where all the wealth of America came from, creating jobs

You should never penalize somebody for being wildly successful and creating millions of jobs

The majority of us that are entrepreneurs just want to create a business and do well, keep our families well off, and educate our children. That is the American dream, and the more the government gets involved in it, the less it happens

Where people are underserved in America is the opportunity to get educated. That actually determines outcomes more than anything else. If you find yourself poor, some large portion of that is because you didn't have the opportunity to be educated

I really think that AI is just another toolset and it’s way overhyped

Most marriages can survive infidelity, what they can't survive is financial stress. In marriage what turns out to really matter is that you both share the same financial goals, and one doesn't outspend the other and goes into bankruptcy. I think a lot of due diligence is not done because people are in a euphoric state of love. But they should be asking questions about “where did you come from, how much debt you have, are you bankrupt?” You find that out anyways after you've been married a few years, but if you don't have a stable plan for building a family pillar around stable finances, you're going to fail

Listen

Being married is not easy, it's a total pain in the ass, but it beats the alternative. What's so difficult about it, it's the amount of work that is required to maintain the relationship that over time you may resent. You're not single anymore and if you resent it, it's because you're not helping each other, you’re not enjoying each other's company. It should be fun to be together, and the minute it's not fun, you have to ask yourself “why is this not fun?”

I can't make everybody happy, so I don't try

My mother said when I was a teenager “Always tell the truth, and you'll never have to remember what you said”

I don't want people to like me, I want them to respect me

The first time you lie to somebody, and they catch you in that lie, they will tell others what happened, and your reputation is irreparable, there's nothing you can do to fix it, because you are a liar. You can't fix it. Once you lied once, there's nothing you can do, you will always be the liar

Great business leaders are known for their honesty, even though it's painful

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