Why you should STOP taking advice from Billionaires - April 2024 (#17)

Hola dear reader. Your dude Brent had a convo recently that I thought would be worth sharing. We live in a world flooded by information and opinions and I’d like to help you cut down on the noise, and get more signal.

Motivation

Money

Lets get right to it, billionaires are MONSTERS. I DON’T mean that in the sense that they are necessarily evil. I mean that in the sense that they are insanely productive, efficient, and focused. To get to the point of being a billionaire you have to be COMPLETELY OBSESSED with whatever it is that’s your game. They are constantly doing all they can to bend reality to their will. Virtually NO ONE gets there by any other way. Unless, of course, they’re a trust fund wienee.

So here’s why you should largely STOP taking advice from Billionaires. These people, by and large, are so singularly focused on whatever their game is (for Warren Buffet it’s investing, for Tswift its ‘music’ and celebrity, for Zuckerberg it’s making Facebook suck less [good luck Zuck]) that any advice they give is VERY LIKELY to be an attempt to increase their wealth. Here are a few examples:

• Mark Zuckerberg: Spent the early days of Facebook evangelizing ‘openness’ and ‘transparency’. I went to an event he spoke at in 2010 and he basically laid out a vision for the world where everyone shared everything online and sang kumbaya! But then again he wanted you to share everything about yourself on his platform… so he could SELL IT!!! Real cool Zuck, real cool…

• Bill Ackman: Warned ‘Hell is Coming’ in a very emotional interview on live TV for CNBC in 2020, right before lockdowns, scaring the pants off everyone. Right after his interview on CNBC the markets sold off HARD. Turns out he had a MASSIVE put position that he sold a week later, then he turned around and bought and rode the market up. It saved his year, as his fund was down up until that point.

• Grant Cardone: To this day, this guy is constantly pushing that the one and only investment worth making for anyone is apartments, for some reason he specifies apartments with 16 or more units. Which is essentially out of reach financially for the majority of investors out there. Never fear, however, he has the ability to take your money and invest in apartments for you. Convenient right?

Look, I’ve got nothing against billionaires in general. All I’m pointing out is the same thing that should be considered with taking advice from anyone is ESPECIALLY true with taking advice from billionaires. Understand the INCENTIVE behind what they say. These people are maniacs, they can’t help but pump their own bags! Whats right for them may not be right for you.

FINAL MEMES

That’s all folks!

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