My First Million Asking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
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Oct 6, 2022 
Billionaire investor Andrew Wilkinson, known for his internet business ventures and founder of Tiny, shares insights on winterizing your finances and business. He discusses the benefits of renting over buying, emphasizing a minimalist lifestyle. The conversation highlights the importance of personal connections in business, along with strategies to navigate economic downturns. Wilkinson also explores stress-testing investments and the art of negotiation, revealing how to extract the maximum salary and recognize your own bargaining power.
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Stress Test Your Business
- Stress test your business by modeling different revenue scenarios, including worst-case drops.
- Consider potential delays in accounts receivable and ensure sufficient cash reserves.
Missing Opportunities
- The worst-case scenario in a recession is total business loss, but a less discussed danger is missing opportunities.
- Illiquidity can prevent capitalizing on favorable market conditions, like low ad rates or acquisition targets.
Conservative Venture Investing
- Avoid high-risk venture bets during a recession.
- Instead of investing in early-stage companies with high valuations, consider more conservative approaches.
