Episode
Asking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
1:22:15
Published: Thu Oct 06 2022
Description
Episode 371: Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) talk to billionaire investor, Andrew Wilkinson (@awilkinson), about winterizing your business and finances, taking random lunches, and why renting is better than buying. ----- Links: * Tiny * Bridgebase * DealMaker * Options Profit Calculator * Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel. * Want more insights like MFM? Check out Shaan's newsletter. ------ Show Notes: (09:30) - Stress testing your business for the recession (15:40) - Andrew's Portfolio (30:25) - Meeting someone belly to belly and Shaan's folder of sayings (33:30) - Why to write a book (39:10) - The value (or lack thereof) of taking random lunches (54:05) - DealMaker (01:00:00) - How to get the maximum salary (01:05:40) - How to lock down for economic winter ----- Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. ----- Additional episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto * #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • #218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More
Chapters
The podcast features Andrew, the creator of multiple businesses, who shares his insights on how he prepares for economic changes and adapts his strategies to ensure the success of his businesses.
00:00 - 02:07 (02:07)
Summary
The podcast features Andrew, the creator of multiple businesses, who shares his insights on how he prepares for economic changes and adapts his strategies to ensure the success of his businesses.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
The speaker discusses the popularity of electric cars and how Tesla has made a lot of sales, with over a million vehicles delivered in a quarter.
02:07 - 04:48 (02:41)
Summary
The speaker discusses the popularity of electric cars and how Tesla has made a lot of sales, with over a million vehicles delivered in a quarter.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
The podcast discusses the high net worth communities and their passions, as well as an app for planning Tesla road trips.
04:48 - 07:55 (03:06)
Summary
The podcast discusses the high net worth communities and their passions, as well as an app for planning Tesla road trips. They also talk about business and personal finance decisions to make during an economic downturn.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
The hosts discuss using simple spreadsheets to model out the impact of recession and the importance of preparing for a potential economic downturn.
07:55 - 11:36 (03:41)
Summary
The hosts discuss using simple spreadsheets to model out the impact of recession and the importance of preparing for a potential economic downturn. They mention the need for businesses to do postmortems to analyze what went well and what didn't during recession times.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
Incubating businesses with low downside and providing all the necessary tools and capital to start a company can reduce the risks and costs of venture capital.
11:36 - 14:50 (03:13)
Summary
Incubating businesses with low downside and providing all the necessary tools and capital to start a company can reduce the risks and costs of venture capital.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
The podcast speaker talks about his personal net worth and how much is associated with his business, Tiny.
14:50 - 18:32 (03:42)
Summary
The podcast speaker talks about his personal net worth and how much is associated with his business, Tiny. He mentions being primarily invested in the business while still maintaining liquidity outside of it.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
This episode discusses the concept of investing for the long-term, buying low, and selling high.
18:32 - 24:32 (06:00)
Summary
This episode discusses the concept of investing for the long-term, buying low, and selling high. The speaker also mentions their concern for anchor bias and talks about the importance of being a good steward of capital while investing in venture deals.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
The speaker shares an exercise of asking himself what he could have done to identify the potential of a company to become successful.
24:32 - 28:48 (04:15)
Summary
The speaker shares an exercise of asking himself what he could have done to identify the potential of a company to become successful. He also discusses the importance of looking for unconventional businesses with dedicated audiences for successful angel investing.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
Utilizing transition phrases and showmanship can help convey your message with a little bit of humor and ambiguity, instead of being too direct.
28:47 - 34:45 (05:57)
Summary
Utilizing transition phrases and showmanship can help convey your message with a little bit of humor and ambiguity, instead of being too direct. By creating banks of these phrases and formulas, you can improve your communication skills.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
The speaker recounts how meeting an entrepreneur who used his book as a tool to turn a like into a love inspired them to pursue a path of entrepreneurship.
34:45 - 37:31 (02:46)
Summary
The speaker recounts how meeting an entrepreneur who used his book as a tool to turn a like into a love inspired them to pursue a path of entrepreneurship.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
This podcast explores the pros and cons of charging money for one's time and attention, including the potential for sleaziness, the opportunity to give back, and the potential for enriching conversations.
37:31 - 39:52 (02:20)
Summary
This podcast explores the pros and cons of charging money for one's time and attention, including the potential for sleaziness, the opportunity to give back, and the potential for enriching conversations.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
The podcast speaker shares their experience of dealing with people who approach them for a conversation while they are tired and exhausted, and suggests ways to deal with such situations.
39:52 - 46:13 (06:20)
Summary
The podcast speaker shares their experience of dealing with people who approach them for a conversation while they are tired and exhausted, and suggests ways to deal with such situations.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
The hosts discuss the quote "most men lead lives of quiet desperation" and pose the question of whether it's better to actually be good at something or just be perceived as good.
46:13 - 50:02 (03:49)
Summary
The hosts discuss the quote "most men lead lives of quiet desperation" and pose the question of whether it's better to actually be good at something or just be perceived as good.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
In this transcript, a speaker describes a comical encounter with an unprofessional-looking Mr. Procurement who advises to focus on larger financial decisions rather than small expenses like lattes and lunches.
50:02 - 57:00 (06:58)
Summary
In this transcript, a speaker describes a comical encounter with an unprofessional-looking Mr. Procurement who advises to focus on larger financial decisions rather than small expenses like lattes and lunches.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
This podcast episode discusses customer service techniques, such as using phrases to show appreciation for customer loyalty and avoiding awkward situations during sales.
57:00 - 1:00:36 (03:35)
Summary
This podcast episode discusses customer service techniques, such as using phrases to show appreciation for customer loyalty and avoiding awkward situations during sales.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
The idea of salary negotiations can be intimidating, but understanding that everything is negotiable and having a script to follow can make the process easier.
1:00:36 - 1:05:54 (05:17)
Summary
The idea of salary negotiations can be intimidating, but understanding that everything is negotiable and having a script to follow can make the process easier. However, be aware of manipulative tactics from employers and utilize resources like Glassdoor to research salary ranges for your position.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
The speaker talks about how they set up a hedge against economic downturns, using the S&P 500 index as a benchmark for a big payout if the market goes down by 20%, which could be an indication of an overall downturn in the economy.
1:05:54 - 1:09:41 (03:46)
Summary
The speaker talks about how they set up a hedge against economic downturns, using the S&P 500 index as a benchmark for a big payout if the market goes down by 20%, which could be an indication of an overall downturn in the economy.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
An investment strategy that focuses on businesses rather than putting all of your net worth into a single investment like a house.
1:09:41 - 1:13:04 (03:23)
Summary
An investment strategy that focuses on businesses rather than putting all of your net worth into a single investment like a house. Interest-only mortgages can provide flexibility and enable one to keep their personal investments diversified.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
The speaker discusses the importance of choosing the constraints one puts on their body, time, psyche, and self in order to optimize for more freedom and happiness.
1:13:04 - 1:16:27 (03:22)
Summary
The speaker discusses the importance of choosing the constraints one puts on their body, time, psyche, and self in order to optimize for more freedom and happiness.
EpisodeAsking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
PodcastMy First Million
During this episode, the host speaks with a guest about how entrepreneurs can build relationships beyond networking through unconventional means like playing games or regular meetings with curated groups of people.
1:16:27 - 1:19:25 (02:57)
Summary
During this episode, the host speaks with a guest about how entrepreneurs can build relationships beyond networking through unconventional means like playing games or regular meetings with curated groups of people.