My Worst Investment Ever Podcast Brennan Spellacy – Differentiate Between One-Way and Two-Way Doors in Your Life
BIO: Brennan Spellacy is one of the co-founders and CEO of Patch, the platform for negative emissions.
STORY: Brennan got offered a full-time junior software development job at Shopify after completing his internship, but he turned it down so that he could go back to complete his degree. The job came with stock options that would be worth an eight-figure today. He never got to use his degree.
LEARNING: Seek help from the right people when making decisions. Ask yourself if your decision is permanent or nonpermanent.
“When you’re making a decision, ask yourself if it can easily be undone or it’s permanent.”
Brennan Spellacy
Guest profile
Brennan Spellacy is one of the co-founders and CEO of Patch, the platform for negative emissions. Prior to starting Patch, Brennan worked in a range of product and engineering roles at Sonder and Shopify.
Worst investment ever
Brennan got offered a full-time junior software development job at Shopify after completing his internship. He still had two years of university remaining, so he turned the job down to go back to school.
What Brennan regrets most is missing out on the stock options that came with the job. These options would be worth an eight-figure today. And the sad part is that Brennan never really used his degree.
Lessons learned
- Understand asymmetric risk and asymmetric upside so that you can make an objective decision.
- Understanding your value system will help you make sure you’re optimizing for that when making a decision.
- Weigh both permanent and nonpermanent decisions.
Andrew’s takeaways
- Don’t beat yourself up too much because you’re not a multimillionaire. When it comes to recognizing opportunities, sometimes you only get more clarity as you grow older.
- Money is just one aspect of decision-making.
- Make sure your decision-making process is good. Take your time and talk to the right people.
Actionable advice
if you’re at some crossroads, get robust data on both sides before you make your decision.
No. 1 goal for the next 12 months
Brennan’s number one goal for the next 12 months is to grow Patch to about 35 or 40 employees.
Parting words
“Sometimes, you got to just shoot your shot and leave it all out there.”
Brennan Spellacy
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Connect with Brennan Spellacy
Andrew’s books
- How to Start Building Your Wealth Investing in the Stock Market
- My Worst Investment Ever
- 9 Valuation Mistakes and How to Avoid Them
- Transform Your Business with Dr.Deming’s 14 Points
Andrew’s online programs
- Valuation Master Class
- How to Start Building Your Wealth Investing in the Stock Market
- Finance Made Ridiculously Simple
- Become a Great Presenter and Increase Your Influence
- Transform Your Business with Dr. Deming’s 14 Points