Episode
#11 - Clawing Back From $250K Debt at 20
56:05
Published: Wed Sep 04 2019
Description
Aleks Svetski (@AleksSvetski) wanted to be a millionaire by 20... and he was on that path. He turned his $5K textbook money into more than $50,000 in the stock market! Until the 2008 global financial crisis hit... he didn't just lose all his money, he was negative quarter of a million. This setback ignited his entrepreneurial spirit where he started a door knocking hustle to get out his debt and make that cool million. Again, until the government betrayed his business and he went back to square one becoming a hippie on a sabbatical... and now he's back again with the lessons he's learned with his newfound passion: Bitcoin. See acast.com/privacy for privacy and opt-out information.
Chapters
HubSpot CRM is a one-stop shop for businesses to automate tedious tasks, keep track of contact info and deals, and make sure that the team has access to the same data to better serve customers and reach their goals.
00:00 - 01:28 (01:28)
Summary
HubSpot CRM is a one-stop shop for businesses to automate tedious tasks, keep track of contact info and deals, and make sure that the team has access to the same data to better serve customers and reach their goals. It's free to get started and a great option for growing businesses looking to cut costs without sacrificing quality.
Episode#11 - Clawing Back From $250K Debt at 20
PodcastMy First Million
In this podcast, the guest shares his journey of overcoming financial crises and building successful businesses in his early twenties.
01:28 - 05:08 (03:39)
Summary
In this podcast, the guest shares his journey of overcoming financial crises and building successful businesses in his early twenties. Among the range of topics discussed include Bitcoin and his involvement in the crypto space today.
Episode#11 - Clawing Back From $250K Debt at 20
PodcastMy First Million
A young man shares his vision of making millions by trading derivatives and proving his family wrong.
05:08 - 07:33 (02:25)
Summary
A young man shares his vision of making millions by trading derivatives and proving his family wrong.
Episode#11 - Clawing Back From $250K Debt at 20
PodcastMy First Million
The author of Rich Dad Poor Dad explains that there are four types of people in the world of money: employees, self-employed, business owners, and investors.
07:33 - 10:47 (03:13)
Summary
The author of Rich Dad Poor Dad explains that there are four types of people in the world of money: employees, self-employed, business owners, and investors. By understanding which category you belong to, you can align your goals and take the necessary steps to achieve financial success.
Episode#11 - Clawing Back From $250K Debt at 20
PodcastMy First Million
The speaker discusses how losing all his earnings was a blessing in disguise and how reaching zero felt like being rich again while highlighting the downsides of paper wealth.
10:47 - 14:12 (03:25)
Summary
The speaker discusses how losing all his earnings was a blessing in disguise and how reaching zero felt like being rich again while highlighting the downsides of paper wealth.
Episode#11 - Clawing Back From $250K Debt at 20
PodcastMy First Million
In this episode, the speaker shares their experience with door to door sales and provides tips for new salespeople.
14:12 - 19:15 (05:02)
Summary
In this episode, the speaker shares their experience with door to door sales and provides tips for new salespeople. They discuss the importance of building rapport with potential customers and making the sales pitch more personal.
Episode#11 - Clawing Back From $250K Debt at 20
PodcastMy First Million
After beginning as a door-to-door salesman for a $40 product, the interviewee eventually created a team of 30 people who sell solar systems.
19:15 - 23:20 (04:04)
Summary
After beginning as a door-to-door salesman for a $40 product, the interviewee eventually created a team of 30 people who sell solar systems. He discusses how he dealt with the culture shock of managing a much larger team and selling a much more expensive product.
Episode#11 - Clawing Back From $250K Debt at 20
PodcastMy First Million
The speaker explains how government funding for his business worked and how he made the mistake of investing in a new product that didn't pan out, costing him money in the long run.
23:20 - 28:22 (05:02)
Summary
The speaker explains how government funding for his business worked and how he made the mistake of investing in a new product that didn't pan out, costing him money in the long run.
Episode#11 - Clawing Back From $250K Debt at 20
PodcastMy First Million
In this podcast, the speaker discusses his strong opposition to fraudulent ICOs, and how they use the narrative of Bitcoin to create a sense of legitimacy when in reality, they are simply trying to print money and dump worthless tokens on people.
28:22 - 32:13 (03:51)
Summary
In this podcast, the speaker discusses his strong opposition to fraudulent ICOs, and how they use the narrative of Bitcoin to create a sense of legitimacy when in reality, they are simply trying to print money and dump worthless tokens on people.
Episode#11 - Clawing Back From $250K Debt at 20
PodcastMy First Million
The current monetary system causes depreciation, but in a Bitcoin-denominated system, such a problem becomes nonexistent.
32:13 - 36:55 (04:41)
Summary
The current monetary system causes depreciation, but in a Bitcoin-denominated system, such a problem becomes nonexistent. Parallel economic systems can coexist, and in the future, Bitcoin seems to be a part of it.
Episode#11 - Clawing Back From $250K Debt at 20
PodcastMy First Million
The app allows users to invest their spare change in Bitcoin and offers options for recurring buys, but faces the tech problem of connecting to banks for direct debit services.
36:55 - 41:53 (04:58)
Summary
The app allows users to invest their spare change in Bitcoin and offers options for recurring buys, but faces the tech problem of connecting to banks for direct debit services.
Episode#11 - Clawing Back From $250K Debt at 20
PodcastMy First Million
The guest speculates that in the medium term during this wave, Bitcoin may peak somewhere between 150 to 200 K while noting that Bitcoin is currently cheap in the current round.
41:53 - 45:25 (03:31)
Summary
The guest speculates that in the medium term during this wave, Bitcoin may peak somewhere between 150 to 200 K while noting that Bitcoin is currently cheap in the current round. The guest also mentioned BitMEX, which offers leveraged versions of Bitcoin.
Episode#11 - Clawing Back From $250K Debt at 20
PodcastMy First Million
The speaker argues that the majority of ICOs during the initial coin offering craze were fake and that Bitcoin, along with its layers, will be the true winner in blockchain technology.
45:25 - 50:11 (04:45)
Summary
The speaker argues that the majority of ICOs during the initial coin offering craze were fake and that Bitcoin, along with its layers, will be the true winner in blockchain technology. The talk focuses on the potential of Bitcoin and how the layers built on top of it (such as Lightning) will deliver what blockchain promised.
Episode#11 - Clawing Back From $250K Debt at 20
PodcastMy First Million
The speaker believes that despite varying beliefs about the current financial system, everyone should buy Bitcoin due to the asymmetry it represents as a contrarian bet.
50:11 - 54:18 (04:07)
Summary
The speaker believes that despite varying beliefs about the current financial system, everyone should buy Bitcoin due to the asymmetry it represents as a contrarian bet.
Episode#11 - Clawing Back From $250K Debt at 20
PodcastMy First Million
The speaker discusses the journey of understanding the economics behind Bitcoin and its fundamental tenets, arguing that it is a better form of money than others.
54:18 - 56:08 (01:50)
Summary
The speaker discusses the journey of understanding the economics behind Bitcoin and its fundamental tenets, arguing that it is a better form of money than others. He recommends learning about Austrian economics and watching the Homo sapiens, Evolution, Money, and Bitcoin videos.