Why Most People Aren’t Built for CEO Pressure (And That’s Okay) 💼 E162

Ladies and gentlemen, welcome to a special edition of the Money Monday's Podcast where

we cover three core topics.

How to make money, how to invest money, how to give away the charity.

As you guys know, these episodes are under 40 minutes for your listening pleasure because

the average workout is 45 minutes, the average commute to work is 45 minutes, so this episode

will be between 34 and 38 minutes.

We want this, not just for you.

Believe in mine, your friends, family, and followers.

People from your past, present, and future might want to listen to this next episode because

this gentleman sold his company for $115 million and he's going to do it again and probably

do it again and again after that.

So we're going to dive into this episode.

And as you're listening, it's not just for you, thinking about the people in your life

two months from now, two years from now, you might share this episode with.

Without further ado, Eric Spofford, give us the quick two-minute bio to get straight

to the money.

I'm going to raise just outside of Boston.

Troubled youth was a really, really bad kid.

Got caught selling weed my first entrepreneurial endeavor at, I think, 11 years old, fifth grade

North Salem Elementary School.

Got caught up in addiction, oxycott and turned heroin addict, a hundred tried and failed

attempts at sobriety and changing my life.

December 7th, 2006, finally, fine recovery and sobriety for God willing the last

time went on the run for some criminal stuff after a drug deal gone bad, crawled into

recovery, 135, 140 pounds, high school dropout without a single dollar left to my name,

unemployable, worst credit score.

Just as bad of a shape as a human could be and was me at that period of time, worked

on recovery, worked on personal development, worked on becoming a better version of myself

every single day since then that was more than 19 years ago, started a recovery business

which was my home state's very first sober living house in 2008, scaled that from one

location, one guy running it me to multiple locations, 325 employees, 55 million dollars

as a top line revenue and I sold that for 115 million dollars off of a $13 million,

almost $13 million TTM EBITDA, so trailing 12 months earnings before interest taxes, depreciation,

amurization.

If you want to get rich and you don't know what I just said and you don't understand

that, you better learn that shit because that is how real wealth fuck you money, generational

money is created.

I sold that company December 21st of 2021, I have taken those proceeds, had a hell of

a time, can't deny that, did made every wrong move that you would make or right move depending

on your perspective on it after selling the company but are back, you know, building

businesses own and operate a portfolio of companies at real estate today.

So you mentioned something that actually just triggered in my mind of when you said the

entrepreneur, your first entrepreneur part of your career was something weed.

Yeah.

I think drug dealers would be amazing business people in other categories outside of

drug dealing.

I know many former drug dealers that are amazing business people in other categories.

I think there are two types of entrepreneurs in the world, right?

One is the type that stayed in school, they got good grades, they went to college, they

got an MBA and they went the traditional path and then the second type of entrepreneur

sold weed.

Right.

When you really think about when I say that they have distribution, they have dealing with

collections, they have to have the capital to either take it on credit or hopefully they

don't get their legs broken if they take it on credit and something that happens or they

have the money to buy it in advance, they've got inventory, risk management, the territories

and the situation they go on to expansions, scan them and what if you want to be in multiple

cities, like really think about it and go back to like the Mafia days, the same concept

of like they had real companies, real businesses, they just happen to be selling illicit things

but they could be selling chest sets or books or put in another widget in there and I think

those same drug dealers could become zillionaires and other categories.

100% fully agree.

Okay, on the make money side, what would you say holds most people back?

Most people in our society, they're making their 60K a year, they get their two weeks each

year to go on vacation, they got their pension plan happening 36 years from now like they

haven't all planned out but they're kind of kept in this thing because it's easy and consistent.

Why do you think most people just take that route in life?

Because most people take that route in life because it is easy and consistent.

You have to have hunger, you have to have the desire to want more and that desire has

to be so large that you're willing to do everything that it takes to create wealth,

to build businesses and to break out of the slave trap of a nine to five.

Even you're active with a lot of entrepreneurs, you've been at events, speaking events on social,

you see a lot of people there out there in the streets on social online, etc.

Do you think that most people should be the CEO or an entrepreneur?

No, no, I think most people have important parts in organizations but to be an entrepreneur,

to be CEO, to be a number one takes a very, very peculiar archetype of person, right?

You have to be, I think the main thing that separates real entrepreneur, real CEO from

the rest of folks, it's not intelligence, it's not skill set, it is their ability to navigate

stress and pressure. And if you are not willing to live your life in a pressure cooker and

find a way to get comfortable there, then this game is not for you.

You should be a W2 employee, which there's nothing wrong with that.

I know people that have made more money than me as employees in organizations, right?

There's a path to a lot of success, or they make less and they're happier and they're not dealing

with the stress. The real deal entrepreneur, the real deal operator, I believe that I am

this person, is not only able to navigate and handle stress and pressure, they kind of fall

apart without it. You know, you look at when I sold my company, I had enough money that I,

in many generations of spoffers after me, never had to work again.

And I made it months in 2022 and I was bored out of my skull. I could not handle the quiet,

the silence I had to get back in the game, not for money, because the game.

I guess that's a real great way of saying it is the real entrepreneur, the real operator

has just a fucking thoroughbred love for the game. And a lot of people get that twisted.

They get it fucked up that they think that, oh, look at this person, like how many people have

said to me, Eric, why do you need more money? Why do you need more cars? Why do you need this?

Why do you need that? I'm sorry, do you think this is about the money?

I fucking, you know, Tom Brady didn't need another Super Bowl ring, but he loves to play.

He wants to go play today. 100%. And that's the same thing with me and most real operators that I

know in this game is that we just love to play, we love the game, we love the pressure, we love

everything that comes with it. So we live in an interesting time in society where there's a lot

of watch printers on social media and a lot of guys flexing, the things you just mentioned that

might be least, it might not be theirs, it might be someone's on the street probably know in front

of these Lamborghinis. Why do you think that there's a lot of guys that are creating the perception

of success before they built it? The perception of success opens doors, right? It gets, you know,

when you look successful, more people are willing to meet with you, they want to, you know,

open the door for you, girls are interested in you, it has benefits. And so I think that intrinsically

is the reason why people try to fake it until they make it. But for, and listen, to be honest,

to be candid, most girls don't know the difference between a guy that is actually wealthy, that

has built something real, that has a Lambo in a nice place, or a guy that is leasing Lambo,

leasing the place. It's safe, it's same car, same car, same car, same apartment, same house,

and they can't really tell the difference. I think that's why there's so many people in a very

fake environment on social media looking and pretending to be the part that really aren't.

So a lot of times people are pitching you deals, but you're mostly investing into your own things.

When someone's pitching a company, whether it's at an event, in your DMs, in your email,

in the elevator, oh Eric, I wanted to meet you, I got this idea, how do you say no?

Me, I'm pretty straightforward, I just, I say no. And just say, listen, respect and love,

and you know, it's just not something, it's not part of my investment thesis at this time.

I invest mostly in my own stuff. I have recently, in the last year, started to make direct

investments into companies, but for the amount of investments that I've made and equity that

I've taken in operating companies, compared to opportunities that hit my desk, it's a very,

very small minority of what I see that I go in on. But for the ones that I do go and make the

investment in, I'm looking at the market, the opportunity, the ability to survive that it's

not going to be disrupted by AI, by tech and the operator. Yep. So you guys have heard me say these

numbers before. I've done 43 angel investments. Sounds like a lot. That's over a decade. It's like

four years. The last four years, I raised $56 million for different brands. It sounds like a lot.

Let's say 18 companies, four years, three or four years. I'm seeing 300 deals in a year

in doing three or four years. Yeah. Think about the success rate. That means one or two percent are

getting through for me to one invest or raise capital to invest into those companies.

It is hard to have an exit. And so I'm trying to reduce my risk by finding entrepreneurs that I believe

in, products that I believe in, that have a version of them having a chance at exiting. And so

three or four hundred pitches, three or four getting through. So when you guys are out there

considering your messaging Eric or messaging me, message a hundred investors. I don't care if

you're copying, pasting, DMing, tweeting at them, LinkedIn, whatever, cost you nothing. But so often

people are coming to me about raising capital and they've done like, oh, I've been trying to raise

money for weeks, weeks. They might take you six months or a year to even get the meetings for it.

How many people did you pitch? Oh, I messaged four different people, my uncle and his friends.

And I'll tell you, and maybe you're different at this day and maybe not, I don't know. But

I think the days of cold messaging on any of the platforms, emailing, or even calling me

are dead. You weren't, you were never going to get over, you know, across the moat into my world.

By coming in, it's no to all of those. That is a hundred percent rejection rate because

the amount of noise and the amount of work that it would take to filter through all of those

opportunities. It's just, it's untenable. It's impossible. I think for anyone trying to raise

capital or find investors or or move the needle in a strategic way like that, get in the room.

Like you throw 42 events a year. I will tell you that if you message me, email me or call me,

the answer is automatically no. If you show up at Dan's events and you're able to connect with Dan

or someone else I have a relationship with, and Dan is like, hey, Eric, you know, likes home

service businesses or health care, you should meet Eric. I will at least take the time to stop.

Because you come on the back of someone else's credibility, even if they just met you.

Like, oh, I know. And, you know, and so I think being very strategic and finding ways to stand out

is incredibly important in business in today's environment. Why do you think it's important for

people to invest into themselves? Why should they get coaching masterminds? That's really the

God. That's really the conversation I want to have. Like how to make money is technical and,

you know, I could talk on it all day long and creating wealth and starting businesses and

creating, you know, a framework within the company that makes it a business that is able to sell

and then playing the EBITDA multiple game, right? I make a dollar and because of the level of this

company, it trades at a 6x, a 8x, a 10x, a 12x. I make a million. I apply the multiple. It's worth

8 million, 10 million, 12 million. I make two million. That whole thing. But what people,

people want to focus on that and that what they miss is the person you have to become to be able

to do it. The personal development work, right? Like, I don't know what the odds are or the statistics.

I do know that 4% of the American workforce makes over $100,000 a year. 2% makes over 200.

So if you're looking to make a million dollars a year, you are like the .01%.

You have to become the fucking .01% that you have to build yourself up and develop the

internal assets, the tools and the resiliency to manage the stress and pressure to become an

interesting, important person that people want to do business with. It is just, it is the one thing

that I see people fail on the most is they're like, I want to make money. I want to get rich. What

the fuck does personal development have anything to do with that, right? What does that have to do

with this? It has everything to do with it, everything. I like to tell people that listen, I became,

I was a homeless, broke drug addict with, you know, nothing at 22 years old. I was a millionaire at 27.

And what happened between 22 and 27 is, is not that I made a million dollars first,

is that I had to become a guy that makes a million dollars and then I made a million dollars.

And that's the process. And so my original focus in changing my life was not, I'm going to

get sober, I'm going to give up drugs and alcohol and I'm going to get rich. My original focus was,

I'm going to get sober and I'm going to come the best version of myself, fucking humanly possible.

And then I took that and channeled it into business, entrepreneurship and wanting to better

myself. But the focus was always recreating myself over and over and over again because it went from

becoming the guy that was the guy that could make a million, that made a million to the guy that

could make 10 million to the guy that could amass, you know, an enormous net worth and walk

into rooms confidently and hold that space. The wealthiest guys and girls that I know, especially

the billionaires, literally just ask questions the whole time. They're still coachable. They

want to know because let's say you're doing a hundred million dollars in sales or a billion dollars

whatever the number is, but one percent changes a lot of money. And literally at dinners, lunches,

breakfast, text messages, I get from the billionaires and zillers of the world. It's just questions

because they know that if they learn something, it changed everything. Why I say that is, it leads

into it. There's a guy out there doing 1.5 million in sales who thinks he knows everything.

And he won't listen to you who's sold for a hundred million plus. He won't listen to me. He won't

listen to that person or even Tony Robbins because he thinks he knows it all. What would you say to

that kid that's doing 1.5 million that thinks he knows everything? You have to be a student of the

game. Some of the most valuable moments of my life that have unlocked millions and perhaps

tens of millions of value were what I call aha moments. They were that light bulb that eureka moment,

right? That, ah, and it's just taking you from here and looking at it just a little bit different.

And if I do it this way, I can do it that that comes from being teachable, being a student of the

game, being, you know, hungry for information and having the humility to be able to learn from others.

You know, the guy that knows it all is always the fucking porous guy in the room.

At what point did you know is time to sell? Is there the right time to sell or is it just like

you're on your progress and then companies come to you or private equity comes to you or is it like,

you know what? Let me start to package this thing up and prepare it to sell.

For me, my journey with selling the company was as much a business aligned with business thesis

as it was personal and spiritual to me. I, you know, ran one of the largest addiction treatment

businesses in the country. I was on the front lines of America's opioid epidemic and addiction

crisis. It was a lot. It just became to a point where I felt God was nudging me that it was time

to move on and it was time to do other things. And I started that process. I started being interested

in selling my and selling businesses and private equity and mergers and acquisitions in 2017

is when I started obsessively studying it. I completed my first minority transaction in 2019

knowing that I was going to chip away and build the company and divest into other things with

an eventual exit. And then in March of 2021, sitting in my backyard in my house at the time in

Fort Lauderdale, it hit me. And I was just like, when you know, you know, and I just knew and I was

like, it's time to go. Interestingly enough, it was at that same time period where I was like,

I wanted to start building a personal brand. I want to get on social media. I wanted to be

influential to people and use my story and my life experience to get out there and show other

people that if a fucked up, you know, drug addict can turn his life around and become successful

that absolutely anybody can. And so I was just, I listened to my heart. And so strategically,

could I have grown that business larger and sold it for more money? Yes. But it was just time for

me to go. And so I made the decision in March of 2021, made the call to the team, said, guys,

we're going to market, called the investment banker and said, let's go and signed a contract with

him, took it to market. It was a 10 month process. And then we sold in late December four days before

Christmas. So oftentimes people think that's the goal, but they actually are not watching part of

the journey, meaning they just think, one day I'm going to sell the company to take a public and

then I realize how rare that is. It's very hard to have an accident with a company. Yes, it is.

Not just that even if you have a good EBITDA or you have a good business, not like they're just

a line of buyers, just because you did X amount of dollars in sales, you have to package it up,

and be prepared for it. You said it's a 10 month process. What parts of that can you tell us about

those 10 months? I think the 10 month process might be misleading. It was several years

prior to that process that I spent professionalizing the company. And so when I started professional,

and I'll talk about the 10 month process of the transaction, but when I started professionalizing

the company in preparation for its sale, what the company looked like was it was the Eric Spoffer

show. I had to show up to work every single day. I had a dozen direct reports. I was central to

the company. It was very mom and pops. I was on a key man risk. I didn't even know what key man

risk was. I was like, really talking about my company. I'm here to run it. And so I had to learn

the information first, and then I had to execute in the business. And the things that I learned was

businesses with the institutional knowledge is written down in written policy, standard operating

procedures that operates with a dashboard of key performance indicators, KPIs and metrics

that has a leadership team that could run the business if the owner and founder got hit by a bus.

That operated professionally. One, we're able to transact period. Not every business is a

sellable business in the state that it's in. And two, would sell for instrumentally more money

than something that didn't have, and there's a lot more that goes into it, but didn't have those

core factors of professionalizing the company installed. And so when I saw that and understood

the equation, right, it is earnings, EBITDA and a multiple. A lot of people think about the value of

their company and they focus exclusively on how much money we make. The variable is also the multiple.

The multiple is driven by professionalization of the company and how well packaged this is.

So if you have a company that does say $10 million a year in earnings, but it runs like a sloppy

piece of shit, a buyer might come in and look at it and go, well, they have earnings. It has a

lot of potential. We're going to have to come in. We're going to have to take the risk. We have to

build the leadership team. We have to protect ourselves in our investment against the owner founder

and start to build a team around him, replace him as the CEO. We're going to take a lot of risk.

We'll pay you five to six X this company. Great. It's 50 60 million. But if you as the owner of the

company understand that this business is worth more without you than it is with you and all these

other key factors of how to professionalize the company and you take the time to do that work,

you can take that same company without ever increasing earnings, professionalize it and go out to

market and get a 10 to 12 X. The earnings are the same. The business valuation can be double

at times, based huge. And so I took the time to start to professionalize the company. I documented

everything. I hired the biggest thing that I did was I hired a leadership team and onboarded them

and trained them and hired the right people and got them in the right seats. When I brought all of

that stuff into the realm of professionalization leadership team and all of that, what actually

interestingly happened with the company as well is I had less and less time obligation to it,

so much so that I was fucking bored and revenue exploded. We doubled and revenue and doubled

in EBITDA. And so when we made the decision to go to market, I hired the banker, the investment

banker, that is someone who represents your company. Typically they work for a success fee,

it's a percentage, anywhere two to four percent is market on the transaction value of the business.

They came in, they started to work with the team, they compiled what's called the data room,

which is exhaustive. It is burning midnight oil, getting all this information together on

your business. You think you have everything together until you see that request list.

That data room is then put into teaser, which is a no name document that says it's in the businesses

in the Northeast. Here's some key facts about it and it does this service, this revenue,

this employees, this, that, the other thing. That teaser goes out to a buyer list and we went out

to like I think 130 different people, buyers, private equity firms and strategic buyers.

About 80 of those folks came back and said we're interested. Next, you send out a non-disclosure

agreement, the NDA. Some of these folks just sign it, a lot of them, you wouldn't believe it,

they want to go back and forth and volley this NDA over minor details. It's like it's very annoying,

it's an NDA, it's not a big deal. You get the NDA signed and you send them a full deck.

This is, you know, has full financials. Everything about the company is in this packaged brochure

essentially, about the company, but it's very extensive and deep information. And then you schedule

what's called an IOI due date, which is indication of interest due date. And then the companies get

to look at the financials and look at the company and they come back with IOI letters on this day.

You know, it's a fun fact about buyers and private equity companies is they all do the same thing

and they wait till the last 10 minutes. And so like you'll say it's due on Tuesday, February,

whatever, by 5 p.m. They're going to come in between 445 and 5 p.m. It's so weird. So you're open,

you're like ripping open these emails and these letters because the letter is telling you where

interested in the company. Here's who we are. Here's where we have sourcing the money. This is

what we plan for the business. And here's a range of value. So you're just sitting there on IOI day

clicking emails, opening, opening PDFs, reading, scanning, look, just looking for the numbers.

Okay. Okay. 100 million. Great, great, great. And our IOIs ranged from like 65 million to 185 million.

It was such a brawl. Yeah. And I was like, well, I'm never selling to 65 million.

And I don't really believe that person at 185 million. I think it ended up being. I was like

the right numbers probably in the middle. Exactly. And that's where we ended up 115.

After IOI day, you schedule management meetings where all the key players of the private equity

group of the buyer come and visit the business. They want to meet the team. They want to see the

business. They want to dig in. They want to meet the team. It's typically a dinner of the night

before. And then all day, the next day, with a schedule, you're going to meet marketing,

you're going to meet sales, you're going to meet operations, you're going to and you're just

running people through meeting them and they're just drilling them with questions. We we boiled it

down from 130 buyers in the buyer list, 80 IOIs, we got a we cut out half of those and then picked

the top nine told others to go back to the drawing board and picked the top nine. It had managed

meetings with them and then went on to L.O.I. Letter of intent, which is a binding document.

They're like, okay, we're really in this. Here's the exact number. And if you sign this,

you're exclusive with us and we're entering the due diligence period to purchase the company.

And then you go into due diligence where they're going, it's a full rectal exam. And simultaneously,

you're negotiating and drafting purchased documents and other necessary things to get over

the finish line of closing. And then you schedule closing. And on closing day,

God, the amount of anxiety and the amount of like just electric energy, right? Like, I don't care.

You can be a stoic and as disciplined as you want to be. When you're in this process, you're

spending the money in your head, you're like, I can't believe this. My life and the kids' lives.

This is about to change this family forever. And so December 21st of 2021, I woke up.

I was like, it was closing day and it was scheduled for 10 AM. And I went to my new office,

which I had set up and I set it a conference room with my right hand at work. And we got on this call.

And they, you know, they go around. They have the bankers, the lawyers, the buyers,

me, the seller, the executive team that's staying behind. And they sign off and they sound off.

They go around and everyone has to verbally commit to closing. And so they got to me and said,

Eric, you're good to close. They said, yeah, clear to close. And everyone else clear to close,

clear to close, clear to close, clear to close. It's like 20 people. And at the end, they said,

all right, congratulations guys. This deal is closed. And my fucking hood ass was like,

Hey, guys, uh, when do I get my money? Yeah, where the fuck's my money? You know what I mean?

Back, back up the brinkstruck. I'm getting out of here. It's been a bank robbery. You know,

I'm out. And they said, the wires have been initiated. And I waited all day. And it was like

530 at night, repress the banking app, right? The banking app over and over and over and over and over

again, waiting for that wire to hit. And about 530 at night. And I was like getting pissed.

I was ready to start calling people because I'm like, banking hours over. We had the

fucks of the money. We closed at 10 a.m. And you know, he just, there's all this tens and tens of

minutes dollars. Where is it? Like, why is it when you press the button here? It doesn't just show

up there. It takes all day. And so I thought I was going to have to wait till the next day. I was

sitting in my kitchen table with my feet up in a refreshed one more time and fucking boom. The

numbers were just like nine numbers. And I was like, God, to be clear is eight numbers because

I'd already sold three minority shares. I didn't make the whole 115 people get that fucked up.

But nonetheless, it was more money than I'd ever seen or thought I was going to see. And I just

sat back and I was like, holy shit, we did it. This is fucking crazy. I immediately turned to

prayer. It's like, God, thank you. This is unbelievable. You know, what a testimony of what someone

could do when they put their mind to it and make the right decisions. The next morning.

The next morning, listen, I never took a day off the next morning. I was up in my house in New

Hampshire. And I woke up and grabbed my number two, a very, very close person to me that's been

with me a long time. And we drove like almost two hours to a city called Fall River, Massachusetts

to look at these brick buildings. Come on. The next morning. The next morning. Yeah. December 22.

It's cold. It's cold as fuck out. And we're looking at these brick buildings that I'm looking

at buying them and developing them into fucking apartment buildings. I have a hot Dunkin Donuts coffee

in my hand. I'm all bundled up. It's freezing. And my right hand network literally elbows me.

It's 9 a.m. We've been up since 530 and together. We're looking at these big buildings

and have architects and engineers with me and all that. And she looks at me and goes,

we're never going to take a fucking day off our way. It's a fair question. I agree with it.

I just laughed. And I was like, no, no, we're certainly not.

All right. Let's go to the final chapter. Let's talk about the charity side. But I'm going to do

a different twist with you. So obviously you're passionate about the sober industry and getting

people sober. Yeah. That's not exactly a philanthropy. But there are philanthropy versions of that.

There are ways to donate to that. But it's more about the message that you send and energy put

into it. And I've actually told me about stories of guys that have come to you and that you've

guided on and pushed them to go get sober, which is the butterfly effect. If they fix their life,

obviously it helps their family, their friends, their community, et cetera.

How does someone find that for themselves like to get behind something? Because it's very

different to just donate 100 bucks, 1000 bucks, 10 grand, whatever to a charity versus find

someone that they're passionate about. I'm going to answer your question with a question,

because I think it's important. Have you had pain in your life? Yes. The pain is the purpose.

The pain is the purpose, right? Whatever it is that you've been up against, whether it was

childhood abuse, homelessness, you know, the hundreds and thousands of problems that's,

you know, people of sickness, illness, health problems. You lost someone to cancer,

fucking to grief is overwhelming. Like I advise people to look to what has personally impacted you

and caused you pain. And if you can't find a way to get excited to have some sort of purpose

that is driven by the pain that you've been through, like do you think it's coincidence that we

struggled that way? Right? Like God fucking himself chose that I was a drug addict,

or however fate works, right? Fate brought me to addiction and it was unbelievably painful.

It destroyed my life. It destroyed the lives of fucking people around me. It caused a lot,

a lot of chaos and a lot of harm. But it inevitably became the greatest gift that I could

possibly have because it gave me a purpose for my life. My life is important and my life is meaningful

because I was able to take the most painful experience of my life and turn it into a purpose.

I don't know a person that I've met yet that hasn't had their own story of pain at some level.

It doesn't need to be addiction. It can be anything, right? Your purpose and the thing

you can get excited about and where you can make a difference is there. It's on the other side of

your pain. And it might be something to happen to, a significant other, a child, a parent,

a grandparent, however it impacted you. Someone feels influential to your life, you know?

All right, so you're one of my only repeat guests because I really have repeat guests.

So you've already answered this question but we're going to ask it again.

The only question I ask at every single episode and I've never gotten the same answer and I think

I'm going to actually get a different version of the same answer from you because over time people

think about things different. You just had another baby. I did, yeah. And so you sell more companies

for another hundred million here, a hundred million there. Hopefully God willing a billion and

two billion over the course of time. But eventually, Eric Spoffer passes away, unfortunately.

What percentage of your net worth do you leave to those children?

It's an interesting question on how do you think, and I've just recently, because I just had

my third child, I went back and have started in them again right now back in my trust the state

and Will Dox redoing them because I have two boys. And so the rules that I had in place for my

two sons don't really translate to my daughter, right? These are very different things and revisiting them.

The my wealth will all go into my trust and my trust is left to all three of my children,

but they do not have open access to it. There is a criteria that for them to even be eligible to

benefit from my wealth. One, because sobriety and abstinence from drugs is such an important

piece central fact of how I made this wealth and what's important to me. I give them the choice

that if they want to be, you know, on drugs, smoking pot, you know, doing whatever it is with their

life, they can do that on their own dime. They get nothing from me. They also need to be, you know,

gainfully employed in school, like there's all this stuff that is a requirement for them to

participate in the wealth. But one of the things that that terrifies me is that we'll pass, you know,

we pass this wealth down to them and, you know, we work our whole lives to create it. We don't live

long enough to get to spend it all. And we pass it down to them and they fuck it up. And it

doesn't benefit my grandchildren, my great-grandchildren, my, you know, et cetera, et cetera, et cetera,

generational. And so how I currently am setting mine up is that they're only allowed to access

4% of the total value of my trust, the, the wealth annually. Right. And so how that,

how that works is that, you know, if you invest the money, you can safely predict over time

an average return of 8%, right? 3% can, stays in the portfolio and it grows to grow the basis,

to compound it and to keep up with and hopefully beat inflation. 1%, so 5% comes out. They cannot

access more than 5% of the wealth in any one annual calendar year. 5% is distributed, 1% pays the

tax, capital gains, and 4% is the net. So they have to meet all of this requirement. But this is

never going to be guns blazing Yahoo. Here's a hundred million. Here's millions of millions of

dollars. It's going to be enough to, in my view, now that 4% needs to get divided at this time

amongst three. And so it's an assistance. It's a guide. It's something I can do. I can ensure that

they'll never be hungry and hopefully they'll never be homeless as long as they aren't fucking

losers and don't fuck it up for themselves. But I could also ensure that it will proceed them.

It will survive them and it will survive the next generation and the next generation and the

next generation. Yeah. All right. Where can people find you on social media or anything that's

going on in your world? At Eric Spoffer. Easy. Nice. Drop the mic. Boom. Boom. All right, guys. As I

mentioned earlier, this podcast is not just for you. You might be sitting somewhere four months

from now and someone's going through something that they might need to get sober or they might

want to be getting some help in their life and you might refer them to start following Eric

across social media. You might some of the things that we talked about here on this episode.

Maybe a friend is trying to sell their company. Come here and listen to the masterclass Eric just

put on about preparing this 10-month situation to prepare for an exit in the years before that

it's actually be dialed in for it because it could save your friend a lot of time money in it. And

that could it will save a lot of time money and energy because if you're not packed prepared

at Pinkie Square, you're going to go through a long headache before that even allows you to

exit your company. As you guys know, we run this commercial free. I am sponsored by fanbases because

I actually use fanbases.com for years, but there's no affiliate code. It's just a company that

I actually work with. Same thing with Go High Level. I've been working with them for years to

hand my entire back in, but there's no fancy affiliate codes. I just work with high level and

fanbases. As you guys are listening to these podcasts, just keep it in mind. It's not just for you.

I'm going to keep saying this because every time I say it, I get messages and message messages

like you're right. I was listening to an episode about restaurants and then my friend had the restaurant.

I sent it to them and I saved them all this money. Those things are burned into my mind and I want

to burn into your mind. Follow Eric Spa for the commercial social media. Check out his content.

It's obviously been fantastic to watch him over the last few years. Go like a rocket ship in the

social media world and he's going to be pouring a lot of gas in that fire over the next few years.

In particular, to really spread his message about straightforward, actual business content

from an actual business operator. Appreciate you guys. See you guys next Monday here at

TheMoneyMundays.com. Ladies and gentlemen, welcome to a special edition of The Money Monday's

Podcast where we cover three core topics. How to make money and invest money and give it away to

charity. As you guys know, these podcasts are under 40 minutes because the average workout is 45

minutes. The average commute to work is 40 minutes. This episode will be between 34 and 38 minutes

for your listening pleasure. Why do I say that? Because we have a 93% listen to rate, which

keeps us way high up there on the podcast rankings because you like, comment, subscribe, and share.

So when you see these clips when you're listening, it might not just be for you. You might hear

something from our guests today that you're like, oh, wow, this is interesting two months from now

or two years from now for the podcast. You never know what might happen. You might help them

learn something new, get a new job, fix something in their company, just from the little tips and

tricks that you hear today on this podcast. So it's not always just about you. It could be for

someone from your past, present, or future. As you guys know, I run this commercial free.

I do work with fan bases, obviously, because fan bases is a company I've been using for years.

That's fanbases.com. There's no affiliate code. It's just a great company. In high level,

I happen to be wearing the sweater as we speak because it's go high level. How is the world? My

entire backend system, multi-billion dollar company. So check out high go high level. If you are

affiliate, agency, coach, course, creator, etc. All right. Let's dive right in. The goal is to

cover all things money related because we grew up thinking it's rude to talk about money. I think

it's ridiculous. We have to talk about it. Loans, leases, taxes, investing. Should I buy? Should I

rent? Should there's so many questions? What if my friend borrow $600? How do I ask for it back?

These are real life things that go on our daily life. And for so many years, we grew up thinking

it's rude to talk about it. We have to talk about it. We're about to talk about it. Right,

this second. Justice, give us the quick two-minute bio so we get straight to the money.

Sure. And then thank you so much, Dan. Great to see you. Thanks for having me on this beautiful set.

Quick two-minute bio. I'll give it even quicker than that. I was very blessed in life. I was born in

Canada. I was born on third base. If you're born in Canada or America, you're already born on third

base. You might not realize that. You might not believe that really because maybe you grew up in

a lower middle class or even maybe a welfare state or a welfare household. But the reality is,

if you were born in one of these two great countries, you're ahead of 80% of the population. So

my first day when I was born in Canada, I actually was fortunate. I was blessed to be born in

Canada. Now, I grew up in a lower middle class household. I struggled. I lost my father at a very

young age. I became enamored with money because of the fact that we had money, then we lost

her the money that we had father passed away. So I went on this pursuit to trying to obtain money

and figure out some tips and techniques not having a father around to really not only help myself,

but to help my family and my friends around me. So I've had this pursuit. I'm 33 years old now.

I've done exceptionally well. I've co-founded and founded many companies that have gone to

hundreds of millions of dollars of value and actually even a couple that have gone to billions

dollars of value. What's the primary focus now? What do you be working on in this time for me?

Well, the primary focus, I mean, so I used to be my firm. We used to be global investors for

a long period of time. But four or five years ago, when I came down to Miami here, we opened up

operations and offices in the US. I looked around this beautiful country and I realized, holy crap,

this country doesn't make anything anymore. I'm going to talk about t-shirts and blue jeans and

things like that. I'm talking about the real bread and butter, the stuff that's going to carry

this country forward 50, 100 gear. So I went on this very aggressive pursuit to change our

investing focus and we started buying great things like we bought a rare earth mine, for example.

Sounds crazy, but we bought a rare earth mine in Texas. We bought the largest uranium measured

and indicated deposit in the country. If you know anything about energy, you probably realize you

need your nuclear to sustain the energy in the future. Uranium is the byproduct that goes into

nuclear, for example. A little bit less high tech and SaaS types of things, but I guess you could

call myself more of an industrialist. We've been very aggressive in those industries, aerospace,

defense, all sorts of things like that. Those areas are very important for our number reasons.

One, they're going to help to sustain this country for the next 1500 years. I think that's

extremely important. I think America is falling behind in a certain way. I think we've lost our

way to a certain capacity. It's not that we can't get it back on track, but we've got 39 trillion

dollars in debt. Some would say the next generation is lazier than the previous generation. There's

some structural issues. I'm a man of faith. Faith is not as prevalent, church and things like that

in our society and values, having families that are husband and wife and having kids. We're not

reproducing like we were or are. There's a lot of things that are fundamentally, I think,

that need to get better if we want to continue to grow this thing through. But from a financial

perspective, I've been really aggressively trying to find great world-class American assets,

build them, grow them, take them public, or exit them. Along the way, we create some great American

jobs. There's so many different options and categories to invest into. Real estate, stock market,

cash line businesses, tech companies, AI companies, crypto currency, oh my gosh, there's so many things.

How do you guys filter down to the things that you want to focus your money, time and energy into?

That's a great question. I go to Vegas a lot for different reasons. I actually have season

tickets to the Vegas Raiders. I know they're not a great team, but I still support them. I love

the underdog. The reason I say that is, for example, when I go to Vegas, I don't gamble.

Could I gamble? Sure. Have I gambled? Yeah, but I don't enjoy it because psychologically,

I know I don't have an edge. At the best case, it's 51, 49 give or take. That's the best it's

ever going to get. And that's the best it's ever going to get. For me, I think life is also

about having an edge, right? So if you grew up and say your dad's in some industry, maybe it's

the garbage industry. It doesn't have the greatest interest in the world, but you're going to learn

a requisite skill set or you can have certain advantages that 99% of the population won't have.

And I think it's going to be who you if you're not aware of that and you don't embrace that in

a certain ability because you kind of have a leg up. And so life is also about math and probability.

It's about more than that. It's what skill and luck and timing. But if you've got an edge on

on something, you want to use that. And so going back to my, I guess, gambling, you know,

analogy, right? So I don't gamble because I don't think I'll win over time and to answer your

question, Dan. So the reasons we operate in the arenas we do, first and foremost, it's because

I believe the country needs these things. And if the country needs them, that's a great starting

point. But I don't live in Silicon Valley. So we're not in deep, heavy tech because I don't

have an edge. Most of the folks in Silicon Valley are going to be able to develop a better AI

technology than I'll ever be able to fathom or my team will be able to fathom. And we try and

find these areas with an edge. And so the industrialist nature of me is I grew up in Canada. I was

a portfolio manager. We invested hundreds of millions and billions of dollars into industrial

projects. So that's primarily why I like the industrial stuff. And I think because of the

administration, there's been a return to let's say greatness and doing things the old way,

the new way, but the old way. And so in the limelight, there's the commodities business. And so

that's why I pick the commodities because I've got an edge over 99% of the people out there,

I believe. So let's say someone wants to get into finance. They want to go work for a company

like yours or firm like yours. They want to work on Wall Street or Silicon Valley, etc.

How do they start? How do they go down that path to go work in the financial services for them?

That's a great question. And the one thing, I'm a big proponent of education. I do think education

generally speaking. It's not perfect, but it's a great equalizer. If you can learn and do things

better than other folks, but you know, I've gone to great colleges and things like that, but

they don't really teach you the minutiae of VC and some of these really important things. And

certainly, I think you alluded to earlier in grade school, they don't teach you about a balance sheet

or pay your credit cards or is this good debt? Is this bad debt? You got to kind of ask yourself why?

I don't want to turn this into conspiracy corner, but it's just not set up the right way. And so

fortunately, because of people like you, podcasts like yours, the information that's readily

out there on podcasts, you can educate yourself. And I encourage the people at home to educate

yourselves because no one's going to do it for you. Nobody's going to do anything for you. And so

ironically, you know, I find people spend more time on booking their next vacation than they do

about their own life plan or their life goals or their balance sheet. So you've got to, you've got

to spend your own time and energy to kind of figure this stuff out. And so what I will say is in

regards to finance, it's extremely lucrative if you can figure it out, but it's not for everyone

per se. And so if you have that burning desire, the information's out there. Maybe you catch a

breaker too. You can do exceptionally well in finance. Absolutely. Oh, you've been on television,

press, building up your social, et cetera. So as more people see you and they hear, oh, he's got

a VC firm. He's investing in deals. You get pitched. You get bombarded. You get DMs, texts, emails,

people approach you at events, et cetera. How do you filter through to make something stand out?

What would stand out to you if I said, hey, invest in my chess board company or invest in my AI

company? What would make it stand out to you? So the interesting thing is I mean, much like

everything in life, we involve, right? So wherever we started, hopefully isn't going to be where

we end and maybe it's going to be somewhere in the middle. I and we pride ourselves about being

fluid, being evolving, kind of always moving and adapting. So we are a typical VC firm. So we

want kind of hyper growth. Let's call it. But we're also more of a PE firm. We're a blend between VC

and PE. And I only say that and I'll maybe educate some of the viewers at home is that PE,

they take a little bit more of a pragmatic approach. VC basically looks like this. You make

10 investments. It's usually somebody else's money. You make 10 investments. One skyrocket does

10,000 x more percentage you can ever imagine. Maybe the next two did do quite well.

And the balance of them are pretty much zeros. So the idea is that the one that shoots the lights

out takes care of the entire portfolio. And that's the way VC works generally. I've never really

loved the genesis of that. Maybe because I hate losing. I don't know why, but I just, I don't

want to be wrong eight times and being super right once. I think that's junk. What we've kind of

gravitated towards is maybe we won't hit the 10,000 x returns. We don't necessarily, we don't

we're not running outside portfolio. We're not an inside portfolio. And so what we're trying to

do is we're trying to take a more pragmatic approach. And we're trying to find companies that are

let's say out of proof concept, they can be in any arena that helps America. That's the only

mandate they've got to be American companies. We take a very active approach. So we'll put a

board member or two. We'll be there 24 seven as little or as much as you need us to be. And

that's not there to impede your business. It's just things that I've learned in my 43 life,

23 years of life. Some of our team members who've learned great expertise and great

adjoining skill sets. We want to be their complementary. And I guess what I'm saying is

we were we're looking for companies in private equity as well. They don't have to have crazy cash

flow. But they've had they got to have a growth propensity. And if we can fund them, if we can build

them, if we can get in their sub $50 million or so market cap or valuation. And we can help to

build and grow them into many hundreds of millions. And as I was mentioning before, if we get lucky,

it's in the $2 billion or $4 billion of the value, we don't need much more than that. And so that's

kind of the framework. That's the genesis. That said, we're not, you know, we're not, it's crazy

as it sounds. We're not here to compete against Silicon Valley. There's better and recent. There's

a lot better Silicon Valley firms that would take your business on. But we're a blend between

the VC and private equity. So how much has AI changed the way you look at investments when some

companies or some categories could be disrupted? How has AI changed what you're looking at?

Well, we're still so early days, right? I mean, I just, I think we're, you know, we're still

so early into it. There's so many ebbs and flows. I think people naively think it's going to happen

overnight. Like I just, I can't see it at this point in time as a, from a user perspective,

you know, we're investors are chat GPT. It's a passive investment. I'm sure it's going to do well

open AI. But like the user experience is, is to better train search at the moment. That's the

capability of it. And so I think in this coming year, 2026, I think it's going to evolve for the

user perspective, not the founder perspective, but the user perspective. Actually, it could be the

founder perspective where if you can work with AI, it'll help to train your firm, meaning that

you'll be able to use assistance internal assistance. They can go through all your documentation,

all your emails. If you can prompt it right, it can help you be more efficient as a founder

of your firm. It could be any type of firm. So I think we're going to start to see a lot more of

those real word applications in 2026. But in the grand scheme of life and the grand scheme of

things, Dan, we're still so early from any meaningful headway. And so for us, that's obviously

very exciting. You know, I'm a large shareholder of SpaceX. SpaceX is going public this year.

There's been talk over last week or so that XAI might actually merge with SpaceX, which is,

you know, it blows your mind, but this is a guy who's blown our mind for a very long time.

Because the reality is is that with his, with his XAI, I mean, his goal now is he's trying to get,

he's, he's solved the problem of the launch, right? He can get things up and down on cadence

in the space. And so Falcon 9 goes up three times a week. When the Starship comes online, unless

let's say next 18 months or so. And to give you perspective, I think you'll enjoy this. You're,

you're an interesting data guy. So when you hear about the Starship, this is the Elon's Mars rocket.

You might hear about it. I don't think anybody really knows the perspective of it. But to give you

some sort of breadth, the Starship rocket that Elon Musk is building that he will have operational

is bigger than the Statue of Liberty. So it's bigger than the Statue of Liberty. And it's going to

fly 16 to 18,000 miles an hour. Whoa. And down's like, wow, that's pretty fast. But to give you

better context, a bullet and a gun travels three, 4,000 miles an hour. So it's going to travel four

times the speed of a bullet. And it's going to be bigger than the Statue of Liberty. That's

what this guy is building. And so that doesn't blow your mind. Air planes are 400 miles an hour. So

that's 40 times 40. Yes. Yeah. 16,000. 16,000. 16,000. 40 times faster airplane. Yeah. That's nuts.

Yeah. Yeah. Whoa. Are humans going to be on them? Humans will be on them. There's debate whether

they put the optimist robots on them first to start doing things, but absolutely that there's

going to be payload and never leaves going to be humans because he wants to he wants to use that

rocket to initially develop the lunar surface. Right. So they want to go back to the moon. They

want to build colony there. And then they also want to go into Mars. Sure. And then the interesting

thing about Mars is you can't just launch a rocket whenever you want. There's only a window once

every two years with the trajectory of the solar system and the way the planets are. And that

the launch window is going to happen in and around December of 2026. If he's able to hit this

two-year window, if not, he's out waiting another two years to try and get in there. It's fascinating.

Totally fascinating. Okay. On the investing side, I can talk about that all day. Let's focus on money.

On the investing side, when you find a company, when do you decide if you're going to do follow-on

rounds? Like let's say you invested the first time you threw in five million bucks into this company.

It was a $40 million round. You and your guys threw in five million bucks, but now they're doing

$200 million round later on. What things make you decide? You know what? I want to invest again,

or you know what? I'm good with our initial small investment. That's it.

So I mean, as the evolution of myself and my firm that we were talking about earlier,

I'll give you a couple of different answers. And so one traditional VC,

back to your gambling analogy and playing Blackjack, you always want to buy that. If it's an

up-round and there's momentum, you always want to double down your winners. You want to let

your winners ride as counterintuitive as it might sound. We're like, oh, this thing's up. It's

three X from where I put my money in. I'm already in position cheaply. There's too much risk.

Traditional and mathematically, the better VC performers always buy the higher rounds because

they're trying to find the thing that takes off as quick as it can. For us, we kind of look at it

a little bit differently because we don't invest as passively anymore. It takes so much energy. We're

small. We try not to invest as passively. And so we were back to the PE. We want to take more

meaningful stakes. And the answer to that question is, is unfortunately, whether it's an up-round,

middle-round, or sometimes even down-rounds, we're all in. We put our chips on the table. We take

the shot and we battle in the trenches with these folks and we celebrate on rooftops with these

folks, but we're all in. So we don't necessarily discriminate. Unless there's something so

wrong with the company or the management or the industry or something of that. We physically can't,

but we're back companies. Let's talk about the charity side of things. Why do you think it's

important for a brand product or service to have some type of charity for their staff, for their

employees, their clients, vendors, investors? Why do you think it's important to have some type of

charity, whether it's money, time, or energy involved in a company? And I think you hit on that

a little bit earlier when I walked in. I think it's more to do with the butterfly effect and just

paying things forward. I don't live in a scarcity mentality or aspect. I always try and pay things

forward. I think making that culture, sometimes you don't even know where it's going to come from or

why it's going to come. But as long as you keep giving, I'm a spiritual guy. I'm a universe guy.

I'm thinking, and there's been so many instances in my life where I didn't know something really

good was going to happen, but I just inadvertently did something good for somebody. And you can never,

Steve Jobs says, you can never connect the dots moving forward. You've always got to look backwards

to connect the dots. And I'm sure yourself, Dan, I'm sure some of the viewers, you've seen

things where you've just done something nice or kind, not expecting anything or maybe even

did expecting anything. That's fine too. But then you look back in some time and that's open to

door or made a relationship or got you a job or got your promotion or got you a flight or an

interview on a podcast or something really, really nice. And so I think not being open-minded to

doing that and pushing that forward is very naive, very self-serving, very close-minded. And so

I'm of the cap that you want to do as much as that within reason as humanly possible.

Why are things important for people to invest into themselves? Invest into their mind,

whether it's coaches, courses, colleges, personal brand? Why should they be investing to themselves?

That's a great question. And I'm a big fan of your friend Tony Robbins. I actually

started reading his, his, his mentor Jim Rohn years in before I got into Tony. And so I think

Jim does the best job of kind of articulating that where it's the only, and I kind of articulation

as well as he and so on, paraphrase it. But at the end of the day, you can't rely on other people.

You've got to make your own skill set, right? And it's back to the kind of the hunting and

fishing and having that kind of sense of yourself, of sense of self, sense of self worth and

self-being. And that's how you become, I think, a provider. I'm old school. I'm traditional.

If you look back to the lineage of human beings to caveman days where hunters and gatherers,

right? And so you can't just, is it important to rely on the, on the team? Absolutely. You have to

rely on the team. But it's really that person, the man or the girl looking yourself in the mirror

and having that ability and confidence and just going through the motions. Like it's everyone,

I think, one of the biggest problems I think also in this day and age is everyone's so scared of

failure, right? You meet these young 30-year-old kids and they've never asked anybody out. They've

been hiding behind this computer and they're socially awkward and I'm like, what chance do you have to,

I think, reproduce? I mean, it's tough, right? And, you know, guys, like, take talk about this

stuff quite a bit where it's like, you've got 80% of the women chasing 20% of the men,

something like that. And so I think just going back into, and again, not a trip back man

but just like more traditional, more like, you know, getting out there failing, embarrassing yourself,

trying to ask a girl out that you have a crush on. Maybe she shoots you down and you feel like

crap for a week or two. But somewhere, something inside you, that's really good as a humane

human being. And there's great examples for women as well too, but I think going back to the,

just the traditional, not everything. I mean, obviously things are good in some capacity,

but just going back to being self-serving, self-sufficient is really going to help our civilization

out. Do you think that most people are cut out to be a CEO of a startup company?

I don't think so. I wouldn't encourage it for everyone. You have to be, you have to have a certain

kind of, you know, a little bit psycho. You know, there's something's obviously off. If you think

you can do something that most people can't and, you know, and it's not all, I'm sure when,

like, you know, things blow up in a good way, it's obvious, but the math isn't on your side,

generally speaking. I think you're trying something really hard. I think I would actually implore

and encourage people to not even be CEO, because maybe you're not, you don't have that right skill set,

or you're 60% of that skill set. You're just as good being somebody's number two. If you're at

somebody's number two or four, a great CEO's, you're going to learn way more, and you'll be more

collaborative, and you'll create more value, because you're more conducive to work with somebody

who might have a better skill set for that. And I might hear that, you know,

shattered people's dreams. That's not what I'm saying, but I'm just saying, be real on who you are,

and if you're willing to, you know, get hit in the face and fail and fail on the mat for

an indefinite future with no guarantee of success. And by the way, as a CEO, I'm in your CEO

of many companies, Dan, like, it's very selfless, right? And so if you have any level of like,

you know, people pleasing or you want people to give you accolades, it's tough as a CEO. Sure,

a couple of people give you accolades, but usually there's a longer list of vendors or somebody

you the, and so you have to, and I say kind of tongue in cheek, because I've got tough skin,

but like, you have to be okay to do that. And if you get a lawsuit or you something,

shit, it's a fan, you can't buckle, because it's not just you at that point. It's the rest of

your company, right? And so you have to have that kind of kind of strength within you. Yeah.

All right. So I'm going to say something very blunt. Employee number six is better than employ

number one if you want to get paid. Yeah. Employee number one, the founder or the CEO, is literally

the last on the list of getting paid. Not just of humans, vendors, bills, rent, lawyer bills,

accounting, vendors, shipping, food for the office. Every little thing is first before you get paid

if you're employing number one. That's exactly right. Stone cold last. And by the way, when there's

extra money to pay in plan number one, guess what you do there's to money back in the company.

Yeah. And if things are going good, you put it all the way back in the company. So I say that

because sometimes people should actually consider just be employing number six, get paid your salary

on time and don't try to be that CEO entrepreneur because you're unlikely to get paid unless you

have a good success later on down the road. It's exactly right. All right. Let's talk about the last

and final key piece. There's only one question I ask on every single episode. I've never gone

the same answer out of a couple hundred episodes now. Wow. Ready for this one? Okay. You build up

this VC firm. You build up some of these companies you're part of. You build up these investments

and you have billions of dollars of exits over the course of your career. But unfortunately,

at some day, you finally pass away. What percentage of your net worth do you leave to your children?

Wow. What a great question. So I'll maybe answer a different way and I don't know if the other

hundred people say the same thing or not, but the key thing for me is I'm not sure what the

percentage is as of yet, but I want to make sure that whatever I leave behind, it's not just a check.

It's not just a here take X amount of money and figure it out. There's got to be something that's

parameters. Not even parameters, but some level of sustainability. I'm not talking about sustainability

for the earth, but sustainably for the business. And because again, the idea that you want things to

reoccur and compound and grow over time. And I've seen so many examples of friends of mine who've

got kids who give a lot of money to their kids. And they struggle because they lose the value of

money because they know there's more behind it. And if you let's say, arbitrarily give a billion

dollars to your kids, they're not stupid people. They know if they can eat to this because they're

still 400 million left or 300 million and 200 million. And so I don't think it's actually the

percentage. For me, at least, it's more, can we set something up that they're so passionate about

that they want to run and build and grow? Hopefully, it's my business. Maybe it's their own business.

I don't know, but it's got some sort of sustainability future where their kids are going to be able to

inherit that. And so there's a lot of planning around generational stuff and trust and, you know,

I'm a member of milk and institute and a lot of these foundations. I've got my own foundation.

So we do some planning around that sort of stuff. But again, the key for me is more so just like,

what does that look like? Less about the dollar amount, dollar amount. But how do we ensure that

this business has the right footing? So when my kids who are one and four now, when they're

84 and, you know, 89, I guess, right or 88, is that still a business that they can pass down to

whoever's coming behind them? Yeah. Where can people find you on social? Where can they find any of the

companies or any of the fund investments that they can look at? Yeah, I think probably the best way

to just at justice, J-U-S-T-U-S, Palmer, P-A-R, M-A-R. That's the Instagram handle that connects

to a lot of stuff. I'm going to bug you about the omnipresence nature. You can find a lot of

stuff on my company website, investfortuna.com. Invest F-O-R-T-U-N-A.com.

All right, guys. As I mentioned earlier in this podcast, this is not just for you. It might be for

someone from your past, present, or future. It could be two months for now. It could be two years

from now. Someone might be thinking about investing. Someone might be thinking about raising capital.

You might want to forward this episode to them and the butterfly flight could occur. They might

start pitching him, boom, they get a 10-month-on investment because you passed along this podcast

episode. So just keep in mind as you listen to these episodes. It's not just for you. It's also for

your friends, family, and followers. Appreciate it, guys. We'll see you guys next Monday here at

theMoneyMondays.com.