Episode
#27 - 10 Million Reasons Why He Plays Poker
47:29
Published: Wed Nov 20 2019
Description
Faraz Jaka (@FarazJaka) is a Poker pro who’s made $10M on the felt... What started out as a fun game during his spare time in college turned into big money FAST. Turning a few hundred dollars into $180k in 6 months as a 19 year-old. He was on top of the world appearing in articles, throwing massive parties, flying to Vegas every other weekend and ambitious plans to make millions a year… until it all came crashing down, went into debt and battled depression. Obviously, he rose from the dead and became hugely successful, so join this roller coaster story on My First Million, and also listen to how he uses the “+EV” method for all decision making, why you shouldn’t be results orientated, meditation exercises to overcome stress and tackling depression by confronting your issues like ‘folding a rug’. See acast.com/privacy for privacy and opt-out information.
Chapters
The speaker discusses his experience starting a successful business and then losing it all, ultimately leading to being $50,000 in debt.
00:00 - 01:59 (01:59)
Summary
The speaker discusses his experience starting a successful business and then losing it all, ultimately leading to being $50,000 in debt.
Episode#27 - 10 Million Reasons Why He Plays Poker
PodcastMy First Million
A former college gambler shares his experience of taking high stakes bets and the dangers that come with it.
02:02 - 06:01 (03:58)
Summary
A former college gambler shares his experience of taking high stakes bets and the dangers that come with it.
Episode#27 - 10 Million Reasons Why He Plays Poker
PodcastMy First Million
The speaker shares how they used to dress up in a shirt and tie and act like they came from work in order to blend in and win at poker.
06:01 - 08:51 (02:49)
Summary
The speaker shares how they used to dress up in a shirt and tie and act like they came from work in order to blend in and win at poker. They also pretended to be on their phone, yelling at an employee to further blend in.
Episode#27 - 10 Million Reasons Why He Plays Poker
PodcastMy First Million
A group of college students started throwing unique parties that included high-quality alcohol instead of just kegs, which made them stand out from others.
08:51 - 11:19 (02:28)
Summary
A group of college students started throwing unique parties that included high-quality alcohol instead of just kegs, which made them stand out from others.
Episode#27 - 10 Million Reasons Why He Plays Poker
PodcastMy First Million
The speaker discusses the similarities between investing in startups and playing high-stakes poker, including the importance of risk management based on personal circumstances, and compares it to his experience as a high school track athlete.
11:19 - 14:47 (03:27)
Summary
The speaker discusses the similarities between investing in startups and playing high-stakes poker, including the importance of risk management based on personal circumstances, and compares it to his experience as a high school track athlete.
Episode#27 - 10 Million Reasons Why He Plays Poker
PodcastMy First Million
Being a local celebrity can have its downsides, as a sudden drop from fame can result in depression and borrowing from other players can be demoralizing.
14:47 - 18:01 (03:14)
Summary
Being a local celebrity can have its downsides, as a sudden drop from fame can result in depression and borrowing from other players can be demoralizing.
Episode#27 - 10 Million Reasons Why He Plays Poker
PodcastMy First Million
The speaker shares their experience of hitting rock bottom and being afraid of their parents' disappointment, and how they observed other people with conservative parents who also live in fear of their expectations.
18:01 - 24:04 (06:02)
Summary
The speaker shares their experience of hitting rock bottom and being afraid of their parents' disappointment, and how they observed other people with conservative parents who also live in fear of their expectations.
Episode#27 - 10 Million Reasons Why He Plays Poker
PodcastMy First Million
The key to preparing for multi-day poker events is to engage in studying, such as analyzing hands with friends, reading books, and watching videos online, and to engage in exercises that promote blood flow and a meditative state before the event.
24:04 - 29:49 (05:45)
Summary
The key to preparing for multi-day poker events is to engage in studying, such as analyzing hands with friends, reading books, and watching videos online, and to engage in exercises that promote blood flow and a meditative state before the event.
Episode#27 - 10 Million Reasons Why He Plays Poker
PodcastMy First Million
The speaker describes their experience attending a retreat to learn meditation and how it was motivated by their friends' success in startups.
29:49 - 36:45 (06:55)
Summary
The speaker describes their experience attending a retreat to learn meditation and how it was motivated by their friends' success in startups. They express frustration during hour-long meditations and their desire to strengthen their mind.
Episode#27 - 10 Million Reasons Why He Plays Poker
PodcastMy First Million
The speaker talks about how people tend to make flawed decisions by overestimating the likelihood of a rare event happening and altering their present decisions based on that assumption.
36:45 - 42:57 (06:12)
Summary
The speaker talks about how people tend to make flawed decisions by overestimating the likelihood of a rare event happening and altering their present decisions based on that assumption.
Episode#27 - 10 Million Reasons Why He Plays Poker
PodcastMy First Million
The speaker emphasizes the importance of making logical decisions and highlights the lack of focus on it in today's business articles.
42:57 - 46:38 (03:40)
Summary
The speaker emphasizes the importance of making logical decisions and highlights the lack of focus on it in today's business articles.
Episode#27 - 10 Million Reasons Why He Plays Poker
PodcastMy First Million
Professional poker player Faraz Jaka provides his social media handles for fans, including Twitter, Instagram, and his personal website which features blog posts, contact information, and articles.
46:38 - 47:17 (00:38)
Summary
Professional poker player Faraz Jaka provides his social media handles for fans, including Twitter, Instagram, and his personal website which features blog posts, contact information, and articles.