Chapter
Investing in NFTs and Crypto
21:30 - 28:18 (06:48)
Starting out in NFTs and crypto often involves taking risks and potentially losing money, but it's important to begin. Warren Buffet's advice on valuing assets is also relevant to this space.
Clips
The best way to approach NFTs and Crypto is to start, knowing that you'll likely lose some money at first, but beginning is way more important than getting it right.
21:30 - 24:40 (03:10)
Summary
The best way to approach NFTs and Crypto is to start, knowing that you'll likely lose some money at first, but beginning is way more important than getting it right. There are many unknown factors and unpredictable events, but the global economy is out of our control.
ChapterInvesting in NFTs and Crypto
EpisodeHire 1 to Hire 10, Sam Gets Hacked, Shaan Buys a $200K NFT, and More with Andrew Wilkinson
PodcastMy First Million
The use of margin involves risks that can lead to the loss of all assets, even to those who are already wealthy.
24:40 - 26:16 (01:35)
Summary
The use of margin involves risks that can lead to the loss of all assets, even to those who are already wealthy. However, unlike the stock market, the real estate market is not subject to margin calls, and the valuation of the property does not affect a loan taken out on the property.
ChapterInvesting in NFTs and Crypto
EpisodeHire 1 to Hire 10, Sam Gets Hacked, Shaan Buys a $200K NFT, and More with Andrew Wilkinson
PodcastMy First Million
The key to successfully bootstrapping a service-based business is generating cashflow through billing out people's time and taking loans against equipment or owned buildings.
26:17 - 28:18 (02:01)
Summary
The key to successfully bootstrapping a service-based business is generating cashflow through billing out people's time and taking loans against equipment or owned buildings.