Codie Sanchez has been a journalist embedded with cartels, worked fancy-pants finance jobs at Goldman Sachs and Vanguard, and now -- she is an independent investor and entrepreneur.She owns a direct interest in FORTY FIVE businesses, with more than 25 cash flows. Codie’s interests include boring businesses (like laundromats and property managers), online media companies, and service businesses.You’ll hear us drop “leverage” a few times in this interview, and though it wasn’t what I’d planned on talking about, I think Codie is a living example of the power of methodically applying leverage. If you want to build an independent career like Codie’s, you’ll love my course+community, called Building a Mountain of Leverage. Check it out at EJorgenson.com/LeverageAdditional resources to help enrich your experience below: Topics Covered:  Putting money to work. (Angel Investing, Permanent Equity, Real Estate, and Stocks.) Leverage: The art of increasing your outcomes (tools, product, people, and capital.) How Codie keeps track of 45 different revenue streams What you can learn from cartels and spec ops organizations The universal language Why EQ is a better indicator for financial success than IQ How to create your own mentor How to build “free” equity How to withstand more than one bullet Favorite Quotes:“Civilize the mind, make savage the body, grow the revenue sheet” -Codie Sanchez“Money is just a tool. The more tools I have the more ability I have to construct the world I want and the world that I think is best for all and for me and for the people that are around me.” -Codie Sanchez“I think plans are normally for fairy tales. I truly believe that if people can follow their curiosity they're gonna end up exactly where they're supposed to be. The only thing you should be focused on is what is interesting to you, what you can get lost in.” -Codie SanchezAdditional Resources: Codie Sanchez Twitter Codie Sanchez Instagram UnconventionalAquisitions.com  The Wise Men: Six Friends and the World They Made Eric Jorgenson Newsletter Eric Jorgenson Leverage Course   Additional Episodes If You Enjoyed: Andrew Wilkinson: Investing vs. Operating, De-risking Leverage, and The Best Part About Business Nick Huber: How to Leverage Twitter, an Abundance Mindset, and A Love of Chaos Andrew Finn of WaitButWhy: How To Acquire A Free Company And Knowing When To Eat A Shitburger   Huge thanks to Modern Stoa (modernstoa.co) for their help on creating and growing this very podcast you’re listening to now. If you need help with podcast growth or monetization, go to modernstoa.co or hit the founder up on Twitter (@consumersky) or Instagram (@iamaskyking).   If you want to support the podcast, here are a few ways you can: >> Buy a copy of the Navalmanak: www.navalmanack.com/ >> Share the podcast with your friends and on social media >> Give the podcast a positive review to help us reach new listeners >> Make a weekly, monthly, or one-time donation: https://app.omella.com/o/9Bufa >> Follow me on Twitter: @ericjorgenson>> Follow @FirstsFamous on Twitter >> Learn more and sign up for the “Building a Mountain of Levers” course and community: https://www.ejorgenson.com/leverage I appreciate your support! 

Today, we’re kicking off a new long-term segment, called Track Zach -- my buddy Zach Marshall just founded a company called Conterra, and is about 3 months into the journey. I plan to have a conversation with him every 3 months or so to get a real-time, much more honest, interesting look at startup life. Zach, now in his second career after the Navy SEALs, is setting his considerable will against a new challenge -- starting a venture-backed company to fix today’s outdated, broken system for hiring private security around the world. Enjoy the ride!If you’re not on my email list, fix that asap by going to ejorgenson.com -- I share weekly blog posts, podcast highlights, and new exciting new projects! Additional resources to help enrich your experience below:Topics Covered:  What drives someone to become a Navy SEAL What is private security? Conterra: the private security marketplace How Conterra is going to revolutionize a $50 billion dollar industry labor marketplace for private security industry The current state of Conterra and where it’s going Favorite Quotes:“In the military you have to learn things extremely fast and not just to pass a test, now you are responsible for these things. For example a skydiver in charge of a civilian drop in a stadium is coordinating all sorts of things and he has 10,000, maybe 5,000 jumps. Meanwhile I had to do the same thing in the service and I had around 65 jumps.” - Zach “In the military you’re just given this massive amount of responsibility so you have to actually pay attention to every detail. Attention to detail is one of those phrases said thousands and thousands of times in the spec ops community and it really is true.” - ZachAdditional Resources: Conterra Email Zach: zach@goconterra.com Eric Jorgenson Newsletter Eric Jorgenson Leverage Course   Additional Episodes If You Enjoyed: Andrew Wilkinson: Investing vs. Operating, De-risking Leverage, and The Best Part About Business Nick Huber: How to Leverage Twitter, an Abundance Mindset, and A Love of Chaos Andrew Finn of WaitButWhy: How To Acquire A Free Company And Knowing When To Eat A Shitburger   Huge thanks to Modern Stoa (modernstoa.co) for their help on creating and growing this very podcast you’re listening to now. If you need help with podcast growth or monetization, go to modernstoa.co or hit the founder up on Twitter (@consumersky) or Instagram (@iamaskyking).   If you want to support the podcast, here are a few ways you can: >> Buy a copy of the Navalmanak: www.navalmanack.com/ >> Share the podcast with your friends and on social media >> Give the podcast a positive review to help us reach new listeners >> Make a weekly, monthly, or one-time donation: https://app.omella.com/o/9Bufa >> Follow me on Twitter: @ericjorgenson>> Follow @FirstsFamous on Twitter >> Learn more and sign up for the “Building a Mountain of Levers” course and community: https://www.ejorgenson.com/leverage I appreciate your support! 

Today, I’m talking with my new Capital Camp buddy Andrew Finn. He is the co-founder of the blog Wait But Why. Since age 25 he’s been patiently building, buying, and operating small businesses. Now, he and Tim Urban share a portfolio of cash-flowing small businesses. Together we discuss how to get a free company, why it is often easier to buy a company than build it, and when to eat a shitburger. Enjoy these topics and countless others on this episode of Jorgenson’s Soundbox. Additional resources to help enrich your experience below:Topics Covered:  How to get a “free” business What a $100,000 failure in early stage podcasting looked like Why it’s easier to buy a company than build a company Why “doing it later” is a risk and the opportunity cost that comes with it The importance of judgement and getting experience making ‘real decisions’ How to be a legitimate player in “the game” An illustration of a jobless renegade pirate’s day looks like Eating shitburgers, and how to know when to stop  Favorite Quotes:“If I do all this maneuvering, find this company, sell at this price, sell some debt and get some money. In 5 years it’ll be like poof here’s a free company and I get my money back.” - Andrew Finn “Your job is not to win the SMB game, it’s to win the game. It’s to win the game of money in a way that will benefit your life. Like, we’re invested in crypto, and the stock market too.” “All service businesses are chicken, just as much as software. You pay someone $X. Resell their time for $X + $Y. And the entirety of the business is justifying and expanding Y to both customers and workers. Y comes from well managed opex, capex, and organization structure. To do it well, you have to just laser focus on what you're providing in exchange for Y. The market gets pissed long-term if it doesn't feel like you're providing enough, and every day it conspires to ask you the question.” - Andrew’s Twitter Additional Resources: Wait But Why Andrew Finn’s Personal Blog G64ventures - Andrew’s holding company Andrew Finn Linkedin Jorgenson Leverage Course   Additional Episodes If You Enjoyed: Andrew Wilkinson: Investing vs. Operating, De-risking Leverage, and The Best Part About Business Nick Huber: How to Leverage Twitter, an Abundance Mindset, and A Love of Chaos Sky King: The Next Level of the Internet, Decentralization, and Becoming a Player in the Game of Life If you enjoy podcasts with Brent Beshore of Permanent Equity or Patrick O’Shaughnessy, you’re going to love this one! Huge thanks to Modern Stoa (modernstoa.co) for their help on creating and growing this very podcast you’re listening to now. If you need help with podcast growth or monetization, go to modernstoa.co or hit the founder up on Twitter (@consumersky) or Instagram (@iamaskyking).   If you want to support the podcast, here are a few ways you can: >> Buy a copy of the Navalmanak: www.navalmanack.com/ >> Share the podcast with your friends and on social media >> Give the podcast a positive review to help us reach new listeners >> Make a weekly, monthly, or one-time donation: https://app.omella.com/o/9Bufa >> Follow me on Twitter: @ericjorgenson>> Follow @FirstsFamous on Twitter >> Learn more and sign up for the “Building a Mountain of Levers” course and community: https://www.ejorgenson.com/leverage I appreciate your support! 

On this episode we welcome Index Coop, a DAO focused on building and governing crypto indexes. They want to be the Vanguard of Crypto. In our discussion we explore Simon’s journey from the US Marines to the world of crypto. Simon explains what Index Co-Op is and why it’s the most intense group he’s ever been a part of. Lastly, learn why people all over the globe are quitting their jobs to become a part of DAOs and more on this episode.Additional resources to help enrich your experience below: Topics Covered: -What a DAO is and why they are so enticing -How people are making full time jobs out of crypto-How Index Co-op pays via governance tokens-The next generation of intra business communication-How Index Co-op plans to replace Vanguard in the next 10 yearsFavorite Quotes:”With DeFi the technical barriers of today will be solved within a month from now, anything is possible.” Additional Resources:Index Co-op WebsiteIndex Co-op ForumIndex Co-op DiscordJason Hitchcock EpisodeSean O’Connor Episode Huge thanks to Modern Stoa (modernstoa.co) for their help on creating and growing this very podcast you’re listening to now. If you need help with podcast growth or monetization, go to modernstoa.co or hit the founder up on Twitter (@consumersky) or Instagram (@iamaskyking).   If you want to support the podcast, here are a few ways you can: >> Buy a copy of the Navalmanak: www.navalmanack.com/ >> Share the podcast with your friends and on social media >> Give the podcast a positive review to help us reach new listeners >> Make a weekly, monthly, or one-time donation: https://app.omella.com/o/9Bufa >> Follow me on Twitter: @ericjorgenson>> Follow @FirstsFamous on Twitter >> Learn more and sign up for the “Building a Mountain of Levers” course and community: https://www.ejorgenson.com/leverage I appreciate your support! 

Sean O’Connor is a brilliant writer and marketer who has been working full-time in Crypto since 2016. Sean O’Connor is Head of Strategy at BlockNative, a blockchain infrastructure company. Previously, he was part of ConsenSys, an Ethereum startup studio, where he helped to launch and scale fan engagement dApps. His career has ranged from launching new digital products (big data and open source content), taking Mentored from vision to product in market, coaching for altMBA, and serving as the first Fulbright Scholar posted in Sri Lanka's former war region.Additional resources to help enrich your experience below: Topics Covered: -What exactly the different iterations of Web technology have enabled-How Sean helped tokenize the first contract in pro sports with Spenser Dinwiddie-Why the US needs to lean into stable coins to become the internet’s reserve currency-How fan contributions to canon can be recognized and rewarded with blockchain-How crypto is reinventing collateralized debt products to make them safer-The different types of stable coins-Explaining Layer1 and Layer2 (L1/L2) of blockchain Favorite Quotes: “The fun part about crypto is that it’s permissionless and anyone can jump in, the hard part about crypto is that it’s permissionless and no one is gonna tell you to jump in you just have to leap” - Sean O’Connor “Follow your interests because if you're pulling on a thread you're excited about the odds are considerably higher that you’ll contribute in a meaningful way… If you think there's a problem or you see something broken speak up, contribute” - Sean O’Connor  Additional Resources:Mental Models Email Series Mindfulness Meditations BookSean's WebsiteSean's Twitter Cellarius White Paper Cellarius Universe GuideHuge thanks to Modern Stoa (modernstoa.co) for their help on creating and growing this very podcast you’re listening to now. If you need help with podcast growth or monetization, go to modernstoa.co or hit the founder up on Twitter (@consumersky) or Instagram (@iamaskyking).   If you want to support the podcast, here are a few ways you can: >> Buy a copy of the Navalmanak: www.navalmanack.com/ >> Share the podcast with your friends and on social media >> Give the podcast a positive review to help us reach new listeners >> Make a weekly, monthly, or one-time donation: https://app.omella.com/o/9Bufa >> Follow me on Twitter: @ericjorgenson>> Follow @FirstsFamous on Twitter >> Learn more and sign up for the “Building a Mountain of Levers” course and community: https://www.ejorgenson.com/leverage I appreciate your support! 

On today’s episode I host Joe Hertler from the Michigan based funk/soul/pop band, Joe Hertler & The Rainbow Seekers! Joe Hertler recorded his first album "The Hard Times LP" in 2009, in his college dorm room. He later went on to form his band The Rainbow Seekers and never looked back. Listen as we discuss: how the craft of songwriting works, how Joe got started, and why music is a universal language. Learn how a band actually works, what the path to their success looked like, and much more. Additional resources to help enrich your experience below: Topics Covered: -Why music is a universal language-The path to success in the music industry-The craft of songwriting-How Joe got started in the music industry-What makes a good song?-How bands actually work-An inside look at 250 days on tour Favorite Quotes:“Figure out who you are and what brings you joy and pursue that relentlessly”- Joe Hertler“Everybody has moments of genius the difference is how many people pay attention to capturing them and writing them down”- Eric Jorgenson Additional Resources:Live at Red Rocks AudioTree Full SessionLive at The Russell First Music Video: Ego Loss on Grand River AvenueQuilted Attic Sessions - Carbon C14 Huge thanks to Modern Stoa (modernstoa.co) for their help on creating and growing this very podcast you’re listening to now. If you need help with podcast growth or monetization, go to modernstoa.co or hit the founder up on Twitter (@consumersky) or Instagram (@iamaskyking).   If you want to support the podcast, here are a few ways you can: >> Buy a copy of the Navalmanak: www.navalmanack.com/ >> Share the podcast with your friends and on social media >> Give the podcast a positive review to help us reach new listeners >> Make a weekly, monthly, or one-time donation: https://app.omella.com/o/9Bufa >> Follow me on Twitter: @ericjorgenson>> Follow @FirstsFamous on Twitter >> Learn more and sign up for the “Building a Mountain of Levers” course and community: https://www.ejorgenson.com/leverage I appreciate your support! 

On this episode I welcome Jason Hitchcock, crypto sensei and Principal at To The Moon Capital. Jason (Twitter: @JasonHitchcock) was among the few to be early to Ethereum, Helium, CryptoPunks, Alchemix, and more. He has 12 years of early stage startup experience and previously held a role at Twitch and Bebo. Listen as we explore DeFi, NFTs, intermediate wealth building, the Metaverse and much more. If you are new to the space I wanted to provide a quick glossary of terms and phrases that you might not be familiar with. Check it out here:Crypto Glossary: $ETH - I don’t own any Bitcoin. Bullish on Eth becoming the iOS of crypto. The next few months will be wild as miners are zeroed out, fees get burned, and staked eth yields go up. You cannot own enough eth. Setting up a validator is the easiest path to non trivial passive income $Luna - user friendly Defi gov token that gets more valuable as more $UST is minted  $ALCX - self paying loans. ALCX will earn 10% of protocol fees in v2, and grow along with stablecoin demand $HNT - decentralized cellular network with parabolic growth $AKT - A decentralized version of AWS compute. Users pay bills with AKT and fees go to stakers at 56% apy  $ATOM- the gov token for the blockchain-in-a-box. Earns fees with every cross-chain transaction on IBC, the standard for interoperability. $crv and $CVX: stake these to earn crazy yield from stablecoin swaps on Curve.  $RUNE: cross chain liquidity of native assets. This will truly bring Bitcoin to defi. Insanely hard problem to solve is solved.  $OGN - Shopify for NFT drops. OGN is making big deals, pay attention $MATIC - first mover of the L2s has already inhaled billions on liquidity, and launches major integrations every day.  $SUSHI - not just an exchange; but offering a full suite of smart contract templates for projects to launch their token economy. And it earns fees when staked $AAVE - the perpetually undervalued lending platform that has an ocean of liquidity.$ETH2x-FLI a token that gives exposure to a perfectly executed 2x leverage strategy on Eth. When eth is up, this goes up double. No liquidations or gas fees! $osmo - osmosis is the uniswap of Cosmos and the first dex. It went to 100m in tvl in 2 weeks. Not bad! It’s the only place in defi to get all the Cosmos tokens. $MOB - mobile coin is the payments token for signal. If it works out, they have millions of users who’d benefit $ARCx - the first onchain credit score system for defi. Not all LPs or borrowers are the same. Protocols can give better liquidation levels or better rates depending on track record  $RPL - if you believe staking ETH will be big, then the east staking-as-service will be tooCryptopunks- the first @larvalabs’s innovation predated the ERC-721 token standard and was the inspiration for it. Additional Resources:The Bull Case For EthereumBankless NewsletterSuggest People to Follow:-@CL207-@RyanSAdams-@TrustlessState-@iamDCinvestor -@CryptoCobain (king of CT)Huge thanks to Modern Stoa (modernstoa.co) for their help on creating and growing this very podcast you’re listening to now. If you need help with podcast growth or monetization, go to modernstoa.co or hit the founder up on Twitter (@consumersky) or Instagram (@iamaskyking).   If you want to support the podcast, here are a few ways you can: >> Buy a copy of the Navalmanak: www.navalmanack.com/ >> Share the podcast with your friends and on social media >> Give the podcast a positive review to help us reach new listeners >> Make a weekly, monthly, or one-time donation: https://app.omella.com/o/9Bufa >> Follow me on Twitter: @ericjorgenson>> Follow @FirstsFamous on Twitter >> Learn more and sign up for the “Building a Mountain of Levers” course and community: https://www.ejorgenson.com/leverage >> Join the Course Correctly community: https://coursecorrectly.com/about/ I appreciate your support! 

Nick Huber owns a real estate private equity company (http://boltstorage.com) in the self storage space. He owns 24 properties and over 630,000 rentable square feet in 4 states. He employees a team of 17 individuals and has raised over $10m in outside capital. Artwork and illustrations by Jack Butcher of @VisualizeValue Huge thanks to Modern Stoa (modernstoa.co) for their help on creating and growing this very podcast you’re listening to now. If you need help with podcast growth or monetization, go to modernstoa.co or hit the founder up on Twitter (@consumersky) or Instagram (@iamaskyking).     If you want to support the podcast, here are a few ways you can: >> Buy a copy of the Navalmanak: www.navalmanack.com/ >> Share the podcast with your friends and on social media >> Give the podcast a positive review to help us reach new listeners >> Make a weekly, monthly, or one-time donation: https://app.omella.com/o/9Bufa >> Follow me on Twitter: @ericjorgenson>> Follow @FirstsFamous on Twitter >> Learn more and sign up for the “Building a Mountain of Levers” course and community: https://www.ejorgenson.com/leverage >> Join the Course Correctly community: https://coursecorrectly.com/about/ I appreciate your support!   Important quotes from Naval on building wealth and the difference between wealth and money: How to get rich without getting lucky. - Naval Ravikant Making money is not a thing you do—it’s a skill you learn. - Naval Ravikant I came up with the principles in my tweetstorm (below) for myself when I was really young, around thirteen or fourteen. I’ve been carrying them in my head for thirty years, and I’ve been living them. Over time (sadly or fortunately), the thing I got really good at was looking at businesses and figuring out the point of maximum leverage to actually create wealth and capture some of that created wealth. - Naval Ravikant Seek wealth, not money or status. - Naval Ravikant  Wealth is having assets that earn while you sleep. - Naval Ravikant  Money is how we transfer time and wealth. - Naval Ravikant Ignore people playing status games. They gain status by attacking people playing wealth creation games.  You’re not going to get rich renting out your time. You must own equity—a piece of a business—to gain your financial freedom. - Naval Ravikant  The most important skill for getting rich is becoming a perpetual learner. You have to know how to learn anything you want to learn. The old model of making money is going to school for four years, getting your degree, and working as a professional for thirty years. But things change fast now. Now, you have to come up to speed on a new profession within nine months, and it’s obsolete four years later. But within those three productive years, you can get very wealthy. - Naval Ravikant 

Andrew Wilkinson is the co-founder of Tiny, a venture capital firm that has helped to build over 25 profitable internet businesses over the last 15 years. He got his start founding MetaLab, one of the world’s top design agencies. He has gone from working out of his apartment a little over a decade ago, to today overseeing a group of companies with over 300 employees and tens of millions in revenue. Artwork and illustrations by Jack Butcher of @VisualizeValue Huge thanks to Modern Stoa (modernstoa.co) for their help on creating and growing this very podcast you’re listening to now. If you need help with podcast growth or monetization, go to modernstoa.co or hit the founder up on Twitter (@consumersky) or Instagram (@iamaskyking).     If you want to support the podcast, here are a few ways you can: >> Buy a copy of the Navalmanak: www.navalmanack.com/ >> Share the podcast with your friends and on social media >> Give the podcast a positive review to help us reach new listeners >> Make a weekly, monthly, or one-time donation: https://app.omella.com/o/9Bufa >> Follow me on Twitter: @ericjorgenson>> Follow @FirstsFamous on Twitter >> Learn more and sign up for the “Building a Mountain of Levers” course and community: https://www.ejorgenson.com/leverage >> Join the Course Correctly community: https://coursecorrectly.com/about/ I appreciate your support!   Important quotes from Naval on building wealth and the difference between wealth and money: How to get rich without getting lucky. - Naval Ravikant Making money is not a thing you do—it’s a skill you learn. - Naval Ravikant I came up with the principles in my tweetstorm (below) for myself when I was really young, around thirteen or fourteen. I’ve been carrying them in my head for thirty years, and I’ve been living them. Over time (sadly or fortunately), the thing I got really good at was looking at businesses and figuring out the point of maximum leverage to actually create wealth and capture some of that created wealth. - Naval Ravikant Seek wealth, not money or status. - Naval Ravikant  Wealth is having assets that earn while you sleep. - Naval Ravikant  Money is how we transfer time and wealth. - Naval Ravikant Ignore people playing status games. They gain status by attacking people playing wealth creation games.  You’re not going to get rich renting out your time. You must own equity—a piece of a business—to gain your financial freedom. - Naval Ravikant  The most important skill for getting rich is becoming a perpetual learner. You have to know how to learn anything you want to learn. The old model of making money is going to school for four years, getting your degree, and working as a professional for thirty years. But things change fast now. Now, you have to come up to speed on a new profession within nine months, and it’s obsolete four years later. But within those three productive years, you can get very wealthy. - Naval Ravikant

Sky King is an entrepreneur and podcaster, passionate about creating systems that incentivize authenticity in media. He founded his company Modern Stoa based in Austin, Texas where he helps podcasters like Aubrey Marcus, Paul Saladino, Luke Storey, and more create and monetize sincere media. His new podcast Sky King’s Mental Playground will be launching in late August on Supercast. If you want to be early to the party subscribe at skyking.substack.com Artwork and illustrations by Jack Butcher of @VisualizeValue Huge thanks to Modern Stoa (modernstoa.co) for his help on creating and growing this very podcast you’re listening to now. If you need help with podcast growth or monetization, go to modernstoa.co or hit him up on Twitter (@consumersky) or Instagram (@iamaskyking).     If you want to support the podcast, here are a few ways you can: >> Buy a copy of the Navalmanak: www.navalmanack.com/ >> Share the podcast with your friends and on social media >> Give the podcast a positive review to help us reach new listeners >> Make a weekly, monthly, or one-time donation: https://app.omella.com/o/9Bufa >> Follow me on Twitter: @ericjorgenson>> Follow @FirstsFamous on Twitter >> Learn more and sign up for the “Building a Mountain of Levers” course and community: https://www.ejorgenson.com/leverage >> Join the Course Correctly community: https://coursecorrectly.com/about/ I appreciate your support!   Important quotes from Naval on building wealth and the difference between wealth and money: How to get rich without getting lucky. - Naval Ravikant Making money is not a thing you do—it’s a skill you learn. - Naval Ravikant I came up with the principles in my tweetstorm (below) for myself when I was really young, around thirteen or fourteen. I’ve been carrying them in my head for thirty years, and I’ve been living them. Over time (sadly or fortunately), the thing I got really good at was looking at businesses and figuring out the point of maximum leverage to actually create wealth and capture some of that created wealth. - Naval Ravikant Seek wealth, not money or status. - Naval Ravikant  Wealth is having assets that earn while you sleep. - Naval Ravikant  Money is how we transfer time and wealth. - Naval Ravikant Ignore people playing status games. They gain status by attacking people playing wealth creation games.  You’re not going to get rich renting out your time. You must own equity—a piece of a business—to gain your financial freedom. - Naval Ravikant The most important skill for getting rich is becoming a perpetual learner. You have to know how to learn anything you want to learn. The old model of making money is going to school for four years, getting your degree, and working as a professional for thirty years. But things change fast now. Now, you have to come up to speed on a new profession within nine months, and it’s obsolete four years later. But within those three productive years, you can get very wealthy. - Naval Ravikant