The Fort

Ray Washburne is the owner of the Mi Cocina restaurants, Dallas Highland Park Village, and former President and CEO of the Overseas Private Investment Corporation.  On this episode, Chris and Ray talk about Ray's career path in real estate and how he developed Highland Park Village in Dallas into nearly $380 million in annual sales. They also talk about Ray starting one of the most popular Tex Mex chains in Texas, his experience working under President Trump, OPIC, and much more. Enjoy!  Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: https://www.linkedin.com/company/fort-capital (02:27) - Ray’s Background and Career (04:14) - How did you get started in real estate? (05:16) - How do you find operating platforms that you want to back? (06:58) - How do you think about getting a deal done? (08:05) - How Chris and Ray Met (08:42) - How Ray Bought Highland Park Village (11:50) - Developing the Property (13:11) - How does it work bringing in super-luxury tenants? (15:10) - What does ‘Retail is Dead’ mean to you? Why is it wrong? (16:35) - How do the personal shoppers work in your spaces? (18:51) - What has Park House done for the center? (20:55) - Why is Dallas winning so much? (22:21) - Understanding the Consumer From a Property Management Perspective (26:00) - The Story of Mi Cocina and Where it is Today (30:40) - Why do brands not travel well? (32:04) - What’s the long-term vision for the brand? (33:20) - What was it like owning a restaurant in 2020? (38:01) - Are there places where you’re now saving money due to COVID? (40:43) - How important is it for a restaurant to have a signature drink or dish that people can rally behind? (43:26) - How do restaurants make money? (44:36) - Is there anything that you’re seeing that anticipates the next roaring 20’s? (46:53) - Thinking About National Competition (48:21) - Are most retailers located in major centers to make money or is it for marketing/branding? (49:12) - What was it like working for President Trump? (53:19) - Is there a time or interaction with him that you’ll never forget? (55:31) - Was the division between Trump and top Democrats just for show or was it real? (56:31) - What is OPIC and why should private business owners be thinking about it? (59:52) - How do you determine which companies\countries have the entrepreneurs to drive capital? (1:01:03) - The Chinese Belt & Road Initiative (1:01:48) - What’s the coolest project you worked on? (1:03:19) - Where is the world growing that we in America aren’t thinking about? (1:04:54) - How are we going to be competitive against China? (1:05:35) - What’s interesting to you going forward now that you’re out of government? (1:07:44) - What’s the pitch of Downtown vs. Uptown Dallas? (1:08:39) - Do you have a childhood experience that shaped the direction of your life? (1:09:52) - What’s one thing you believe that a lot of people do not? (1:11:09) - Can we keep a clean government? (1:11:33) - What’s the best advice you’ve ever been given? (1:12:02) -  If you owned the biggest billboard in DFW and you could put anything on it, what would it say? The FORT with Chris Powers is produced by Straight Up Podcasts

Chris Torres is an artist and creator of Nyan Cat, one of the most popular memes in internet history. Vangeli Gelekas is currently building the largest NFT (Non-Fungible Tokens) artist community on the web and helping artists leave the constraints of corporate commissions behind through NFTs.  On this episode, Chris and Van deep dive into NFT's and how the ownership of digital assets is going to change the world as we know it. They talk about the community of artists that currently make up their section of the NFT economy, how the average Joe can get into this world, why transactions are made via cryptocurrency, and more. This is is an episode you may want to listen to more than once, enjoy!  Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Chris Torres on Twitter: www.Twitter.com/PRguitarman Vangeli Gelekas on Twitter: www.Twitter.com/NetGenius (02:36) - What is an NFT? (Non-Fungible Token) (04:35) - How did you get into this space? (07:29) - Where are the best communities for NFTs? NBA Top Shot  (09:21) - Is an NFT only digital or can it be for physical assets? (10:52) - If everybody has a screenshot of a piece of art, how is it really that valuable?  (12:37) - What is Nyan Cat? (14:10) - How can you monetize Nyan Cat & NFTs? (15:06) - Why Screenshotting the NFT is What We Want  (18:04) - If I buy Nyan Cat, what do I do with it? (19:44) - How Much Chris Sold Nyan Cat For (20:46) - Who’s buying NFTs right now? (26:18) - How do I join the community? (28:58) - Is there a leader of this community like Shitoshi in Bitcoin? (31:07) - How does the average Joe get into this world with respect? (40:11) - How do you create the NFT and get it on the Blockchain? (44:13) - If I buy Nyan Cat, can I ask you never to sell another one or how does the ownership work? (50:06) - Do you have to display the purchased art anywhere to build momentum? What happens if you don’t? Marketplace: Foundation (55:45) - Do NFTs only live on ETH? (58:05) - The Transition from Physical Asset Value to Digital Asset Value (59:42) - Could we turn this podcast episode into an NFT? (1:01:21) - Can there be fractional ownership of NFTs? (1:04:08) - Where can I go look at NFT freak’s art? (1:05:47) - How did y’all meet each other? (1:08:25) - Chris, why are you doing this? (1:14:02) - Wrap-Up: What do you want people to take away from this episode if they came in with zero knowledge about this space? The FORT with Chris Powers is produced by Straight Up Podcasts

On this episode, Chris dives into what is known as the 'Barbell Theory' in real estate. He discusses how he came to learn about the theory and how folks in the industry can capitalize on the theory by getting ahead of the growth of an area before it happens. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ (01:00) - How Chris Came to Learn About The Barbell Theory (01:52) - The Barbell Theory Google Earth Example of Fort Worth Barbell Theory (08:25) - Acting on the Barbell Theory/ Buying in Front of the Growth (13:28) - The Time Horizon for Growth (15:09) - Wrap Up The FORT with Chris Powers is produced by Straight Up Podcasts

Mitchell Baldridge is a Certified Public Accountant and Certified Financial Planner with vast experience in corporate accounting, business advisory, and financial planning. His passion is building lifelong relationships with business owners to help them thrive.  On this episode, Mitchell and Chris discuss the nuances in financial planning for business owners, best practices to take before selling your business, bulletproof ways for normal people to save on taxes, Twitter and more. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.Linkedin.com/in/chrispowersjr/ Follow Mitchell on Twitter: www.Twitter.com/BaldridgeCPA (02:51) - Mitchell’s Story and What He Does Today (05:46) - Knowing How to Make Money vs. Knowing How to Invest Money (06:40) - Thought Experiment: Family business owner, late in a career, $50 M company w/ three kids & grandkids and no planning. What do you recommend? (16:02) - Is there a certain dollar amount you need to start thinking about this planning? (17:03) - Setting up a Giving Plan (21:10) - The Fractional Family Offices & Creative Planning (24:32) - What technology are you using right now? (25:30) - Twitter Q: Why do most CPAs act like they work for the IRS instead of their client? (28:58) - What’s it like to be so intimately involved with people making incredible amounts of money? (30:22) - If you’re selling your business, are there best practices to do a few years out? (32:35) - What’s a Loan Out Corp? (34:48) - Do they need audited financials years in advance? (35:34) - What is QSBS? (Qualified Small Business Stock) (28:25) - How does a SPAC work? (Special Purpose Acquisition Company) (40:17) - What are some outlandish ways you’ve seen people avoid taxes? (41:36) - Is there a bulletproof way to save on taxes for the average person? (42:59) - What’s a cash balance pension plan? (45:12) - What are the benefits for Multi-Family vs. Commercial asset classes with Cost & Bonus Depreciation? (54:42) - What pieces of real properties (parking areas, concrete on commercial areas, etc.) are often overlooked for bonus depreciation? (56:12) - Is the best practice to call your CPA after every deal? (58:04) - How do you most efficiently structure a holding company with both operating and real estate investments? (1:00:07) - How do you best structure family businesses that will succeed from one generation to another? (1:02:34) - What is the coolest way you’ve seen a family set benchmarks for grandkids to actually earn money from a plan? (1:05:36) - How are you thinking about growing your business going forward? (1:08:46) - Twitter as a Mode for Growth (1:12:55) - Nick Huber (1:16:40) - Do you have a childhood experience that shaped the direction of your life? (1:18:50) - Is there something you believe that a lot of people around you don’t? (1:19:38) - What’s the best advice you’ve ever been given? (1:20:30) - Do you have a book that you love? Think & Grow Rich by Napoleon Hill Choose yourself by James Altucher (1:21:41) - What’s the best way for people to reach you? The FORT with Chris Powers is produced by Straight Up Podcasts

James Beshara is a full-time Angel Investor & Founder of Magic Mind. He also is the host of the podcast Below the Line.  In his third appearance on The FORT, James and Chris discuss the origins of their friendship, the concept of lives being made on 12 seconds of courage, and the metrics of their first venture fund. James also details his experience building Tilt, which was acquired by Airbnb in 2017, and the downside of that journey that you won't ever hear from other start-ups in the media. He talks about running out of cash while trying to find a suitable buyer for the business, having to lay-off employees, and taking the news of the acquisition to the team as well as transitioning to Airbnb. Finally, James and Chris discuss the ego-centric world of tech, what it means to be happy, the philosophy behind building a business, and more. Enjoy!  Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ James Beshara on Twitter: www.twitter.com/jamesbeshara James' Podcast: www.belowthelinepod.com (03:26) - How James and Chris Met (07:22) - Lives Are Made on 12 Seconds of Courage (12:15) - Going to South Africa (16:24) - The Metrics for Chris & James First Fund (Cat Empire) (24:20) - The Process of Deciding to Start a Venture Fund (30:02) - The Downside of Building and Exiting Tilt (Acquired by Airbnb) Below the Line: On Failure  (36:10) - The Last Few Months of Tilt (50:03) - Telling the Team About the Acquisition (59:06) - Initial Experiences at Airbnb (1:02:10) - What’s the process like getting stock in a pre-IPO company? (1:05:12) - Being Made to Create (1:07:20) - Working Alongside AirBnb’s CEO (1:10:55) - When someone is emerging with a start-up, are they getting executive coaches along the way? (1:17:04) - Vulnerability is a Strength  (1:22:33) - Ego in Today’s Society (1:25:27) - Envy (1:30:51) - Eastern Philosophy & Starting a Business (1:33:17) - Wheat does an internal pursuit mean? (1:36:36) - What does it mean to be content? Living life backwards by David Gibson (1:49:08) - Clubhouse and James Being One of the First Investors The FORT with Chris Powers is produced by Straight Up Podcasts

Patrick Dossett is a Navy SEAL and Co-Founder of Madefor, a ten-month program that applies the principles of modern neuroscience, psychology, and physiology to make your brain and body better. On this episode, Patrick talks about his journey of becoming a SEAL and the grueling physical and mental process that develops the greatest soldiers on earth. He also talks about his transition out of the SEAL Teams into business school at Wharton and his time working at Google. Finally, he and Chris discuss launching Madefor right as the pandemic hit, learning from his Co-founder Blake Mycoskie (founder of Tom's Shoes) and how Madefor is aimed to help bring peak potential out of every student. Enjoy! (02:31) - Pat’s Story Growing Up Rogue Warrior by Richard Marcinko (03:46) - What was it that drove you to want to become a SEAL? (05:36) - Pat's Journey of Starting at the Naval Academy and Getting to BUD/S (08:31) - What’s the breakdown of mental vs. physical toughness in being a SEAL? (13:01) - Hell Week & Focusing on What’s in Front of You (19:20) - Sleep During Hell Week (20:36) - Is there a reason why we aren’t taught more about focusing on the little things in front of us? Why do we only look at the 'big wins’? Growth and Fixed Mindsets - Carol Dweck (25:30) - Was the Dweck research outcome due to more nature or nurture? (26:46) - What’s the main reason a SEAL mission fails? (32:30) - There’s Always an Opportunity to Quit (37:20) - How was your transition out of the teams? What did business school do for you? (40:58) - What was the difference in ‘thinking outside the box’ in the SEALS vs. your time working at Google? (47:25) - How did you get the idea for Madefor? (52:23) - What have you learned from your co-founder, Blake, that’s made him a great businessman? (55:24) - What is the product you’ve built? What’s the curriculum? (1:02:34) - Do people taking the class get to know other students or is there only communication with the company? (1:04:06) - How many people have gone through the program to date? (1:05:09) - What happens during a month of the program? (1:08:35) - What’s the main reason why people show up for this program? (1:14:29) - What’s one thing you believe that most people don’t? (1:15:03) - Do you have a morning routine? (1:18:44) - What’s the best advice you’ve ever been given? (1:19:26) - How can people get in touch with you? (1:20:31) - Wrap Up www.getmadefor.com Madefor on Instagram: @madefor Patrick on Instagram: @Madefor_pat The FORT with Chris Powers is produced by Straight Up Podcasts

How would you go about doing your first real estate deal with no experience and no capital? On this episode, Chris answers that question as he walks through the process of executing your first deal. He explains why you need to have immense knowledge of your market, understanding how to approach banks, the process of raising capital, and more. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: https://www.linkedin.com/company/fort-capital (00:57) - Pick an Asset Class and a Market The FORT Podcast RE #93: How to get your first job in Real Estate (02:24) - Get Your Real Estate License (04:08) - Borrowing From a Bank (FHA Loan) (07:54) - Get to Know Your Market (10:01) - Learn How to Underwrite a Property (16:48) - Raising Money The FORT Podcast RE #81: How to Underwrite (20:39) - Setting Terms with Investors (21:26) - Understanding What a ‘Good Deal’ Looks Like (23:31) - Cold-Calling Properties & Talking to Brokers (25:08) - Finding Sub-Contractors (27:37) - After You Get a Property Under Contract (29:02) - Property Management (32:18) - More on FHA Loans & Chris’ First Deal (33:41) - Wrap Up The FORT with Chris Powers is produced by Straight Up Podcasts

On this episode, Nick Huber joins Chris for his second appearance on The FORT podcast. Nick is the founder of The Sweaty Startup whose mission is to help people do common things uncommonly well. Nick and Chris discuss his massive growth on Twitter over the last 6 months and what kind of value that's brought him. They talk self-storage and Nick's 12 properties under contract as well as how he was able to raise the money for those deals. They touch on the importance of providing value and content online, the steps Chris took in his business career to get where he is now, Nick's Real Estate course, and much more. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: https://www.linkedin.com/company/fort-capital/  Nick Huber: Bolt Storage The Sweaty Startup Website Nick's Real Estate Masterclass Nick on Twitter (02:43) - Walk Us Through Selling Your Self-Storage Business and What Y’all Went Through in 2020 (03:54) - Was there a moment when you realized that it was time to sell? (04:32) - How long did it take you all to sell? (05:32) - How much has your growth on Twitter changed your world? (06:25) - How were you able to earn $100k in consulting? (07:39) - How Chris and Nick Engage with Potential Investors (10:52) - Nick’s Thread that Was Published on Morning Brew that Led to 30-40k Followers on Twitter The Thread (11:52) - Nick and Chris’ Thoughts on Giving Information Away on Twitter and Handling Trolls (14:38) - How do you meet the really big people on Twitter? (15:07) - Chris’ Twitter & Podcast Goals (17:32) - Nick’s Business Goals and The Steps Chris Took to Get to Where He is Now (22:27) - Thinking of Hiring as an Asset and Not an Expense (25:40) - Clubhouse (27:17) - Twitter Q: What would you be doing if you weren’t doing real estate?  (31:56) - Nick’s Real Estate Course (The Non-Sales Pitch) (33:58) - Podia (35:35) - What asset class would you jump into if you couldn’t do self-storage? (37:04) - How are you underwriting your expected churn? (38:40) - Why do you continue to focus on the NorthEast? (40:42) - What’s the most common thing you do to increase value when you take over a property? (42:44) - Nick’s Advertising Process (43:09) - Twitter Q: How are you sourcing and getting things under contract so quickly? (44:37) - Working with Brokers (49:41) - Cash-Out Refinancing (51:05) - Demographic Differences Between Rural NE and The Big Cities (51:50) - Customers Taking Advantage of Customer Service Reps (54:50) - What type of person are you hiring? (56:14) - What do the first 2 weeks look like after closing 12 properties? (58:12) - Twitter Q: Buy and Hold forever vs. Buy and Sell in 5-7 years? (1:01:28) - Being an LP (1:05:36) - Wrap Up The FORT is produced by Straight Up Podcasts

Today's episode features Tomas Hoyos, the Co-Founder & CEO of airsubs, a platform launched in the midst of the pandemic that allows creators to connect virtually with their audience to teach classes, host fitness courses and more all while monetizing as digital creators. Tomas also is the founder of Voro, a healthcare social network where people share doctor recommendations with their friends and neighbors, research doctors, and book appointments. On this episode, Tomas touches on his childhood moving from Venezuela to the United States and the trial his family went through during multiple military coups and the Bay of Pigs. He and Chris also discuss the pivot to launching airsubs during the early days of the pandemic, how COVID affected Voro, and the trend of the creator economy exploding due to the events of the last year. Enjoy!  Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/   (02:56) - Tomas’ Story Growing Up and What Led Him to Airsubs www.airsubs.com (04:16) - Tomas’ Experience Growing Up in Venezuela (05:36) - What was the inspiration behind Voro? www.Voro.com (10:02) - When did you decide to go all-in with Voro? (10:56) - Did you bring on a co-founder? (11:27) - What happened when the pandemic hit? (16:44) - How do you describe airsubs? (20:29) - Was Mike Maples the main encourager for y’all to ‘try anything’ in the midst of the world turning upside down? (22:13) - What was your mandate to the team in the aftermath of that conversation? How long was it until you launched airsubs from that call? (23:03) - Did you code everything out or go no-code? (23:38) - What was the genesis of getting your first creator onboard? (27:13) - What other types of use-cases are you seeing on the platform? (29:04) - Re-Selling Content (30:14) - Can you embed your profile into a website or do you drive users to the airsubs website? (31:00) - Is there a community aspect within airsubs? (31:41) - What’s the network effect like? (33:24) - What tools do you offer to the creator? (36:14) - How are you getting inspiration for new tools to add? (37:27) - Has there been anything your customers have asked you to build that was surprising? (38:33) - Is there any reason a creator would go back to in-person events after seeing such success online? (40:02) - What are your thoughts on Clubhouse and the idea of monetizing conversations? (43:48) - How many people are working on the business? (44:48) - Is it fair to say you’ve found Product-Market fit with airsubs? (46:04) - How are you thinking about financing going forward? (46:56) - How are you thinking about Voro’s growth amidst airsubs’ success? (47:58) - Is your team completely remote? How do you think about growing the team? (48:40) - What have your investors done for you that you didn’t expect? (50:02) - Did you have a childhood experience that shaped the trajectory of your life? (52:56) - What’s the best advice you’ve ever received? (53:37) - What’s the best book you have ever read? Alexander Hamilton by Ron Chernow When Breath Becomes Air by Paul Kalanithi Barbarian Days by William Finnegan A River Runs Through It by Norman Maclean (54:30) - What’s the best way for people to reach you or find airsubs? Twitter: www.Twitter.com/HomasToyos Instagram: www.Instagram.com/HomasToyos Tomas@airsubs.com  

Matteo Franceschetti is the Co-Founder and CEO of Eight Sleep, a proprietary technology reinventing the way people sleep. Eight graduated from Y Combinator in the summer 2015 and from Stanford’s StartX program in May 2015. On this episode, Matteo offers insight into the nuances of how and why we sleep. He touches on how various inputs affect our quality of sleep such as food, caffeine, alcohol and supplements. He also describes various levels of sleep: Light, Deep and REM. Finally, Matteo and Chris talk about Eight Sleep's technology and how it has been able to help people improve their sleep. Enjoy!  Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ (01:42) - Matteo’s Background (02:30) - How did you get the idea to start Eight Sleep? (03:34) - What was your experience like going through Y Combinator? Y Combinator (04:26) -  Why do you characterize sleep as a form of fitness? (05:34) - Why do you suggest compressing your sleep from 8 hours to 6 hours? (06:33) - How do you define light sleep, deep sleep, and REM? (07:58) - What happens to the body when you’re sleeping? Why do we need sleep? (09:51) - Does the amount of total time in bed but not asleep benefit you at all? (10:24) - What effect does alcohol have on sleep? (12:21) - What effect does eating before bed have on sleep? (13:29) - How does caffeine impact sleep? (14:39) - How does exercise and when you exercise affect your sleep? (16:02) - Does having sex before you go to sleep affect your sleep? (16:27) - Do you recommend sleep supplements like Melatonin? (17:35) - What are your thoughts on going to sleep around the same time every day? (20:43) - How does your mood before going to bed impact your sleep and how you wake up? (21:56) - Is there data on sleep quality for couples vs. those sleeping alone? (22:58) - Why do people dream? (24:17) - Why are some people really heavy sleepers and others light sleepers? (24:57) - How does age affect sleep? (26:17) - Does gender affect sleep? (26:40) - How does sleeping on a mattress for most folks affect sleep vs. people in poverty that have worse sleeping conditions? (27:40) - How does light and temperature in the room affect sleep? (28:21) - What is it about the products you offer that make sleep better for people? (30:00) - How are these mattresses able to control body temperature? (30:34) - What type of information do the mattress sensors pick up about the user? (31:53) - Does the mattress differ in terms or softness or firmness? Does it even matter? (32:50) - Do pillows matter? (33:16) - What data do customers get in the morning on the Eight Sleep app? (33:47) - Circulating Water into the Mattress (34:46) - Can you describe the pods and cover you offer? (35:58) - What can folks who travel a lot do to make sleeping better? (36:30) - Is there a childhood experience that shaped the trajectory of your life? (37:15) - Do you have a morning routine? (38:05) - What’s the best advice you’ve ever received? (38:14) - If you had a billboard that was on a major highway, what would you put on it? (39:08) - How can people reach you? eightsleep.com Follow Matteo on Twitter