In this episode of the My First Million Podcast titled “Investing | My Worst & Best Investments,” Shaan Puri and Sam Parr discuss various investment experiences. Shaan opens up about his worst investments that caused him to miss out on making five million dollars. They highlight the importance of celebrating builders and providing tools to turn ideas into reality. Sam, the founder and CEO of The Hustle, shares insights from their premium publication called Trends, where they uncover fast-growing business concepts, industries, and companies. They also recommend checking out their podcast called “Exit Strategy” hosted by Moiz Ali, founder of Native, which interviews top entrepreneurs to uncover tips and strategies for building successful businesses. Additionally, Shaan talks about his bad investments in advising a friend’s startup and investing in a crashing cryptocurrency, as well as his successful investment in Bitcoin. They express frustration with the unpredictability of the stock market and prefer running their own businesses for more control over their financial situation.
About the Podcast
Hosted by Shaan Puri and Sam Parr, this podcast celebrates builders and provides tools to turn schemes into reality. Shaan and Sam discuss insights from Trends, a premium publication, and uncover the fastest-growing business concepts, industries, and companies. Listeners can connect with them on social media, including Instagram, Facebook, Twitter, and LinkedIn.
How Shaan Missed out on making five million dollars. Shaan talks about the worst investments he has made over his lifetime.
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My First Million is hosted by Shaan Puri and Sam Parr. We celebrate builders, even if they fail. And give you the tools to help you turn your scheme into a reality.
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Sam Parr is the founder and CEO of The Hustle, a daily newsletter that delivers bold business and tech news — trusted by over 1 million readers.
We often discuss insights from Trends, our premium publication. We spend thousands of hours uncovering the fastest-growing business concepts, industries, and companies to tell you what’s the next big thing.
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Check out Exit Strategy, our podcast hosted by Moiz Ali, founder of Native, a direct-to-consumer deodorant brand that he sold to Procter \u0026 Gamble for $100 million just 28 weeks in. He interviews some of the world’s top entrepreneurs, unearthing the tips and strategies you can use to build your own unicorn.
Exit Strategy: https://bit.ly/husyt-exit
One podcast that Shaan and Sam recommend checking out is ‘Exit Strategy,’ hosted by Moiz Ali. Moiz Ali is the founder of Native, a direct-to-consumer deodorant brand that he sold to Procter & Gamble for $100 million just 28 weeks in. On ‘Exit Strategy,’ Moiz interviews some of the world’s top entrepreneurs, providing tips and strategies for building your own unicorn.
Shaan’s Worst Investments
Shaan opens up about two of his worst investments. The first one was advising a friend on a startup for international students applying to US universities. This startup aimed to make it easier for international students to navigate the application process. While Shaan believed in the company and liked the founder, he didn’t have the financial means to invest at the time. Looking back, he regrets not taking the opportunity, as the company has recently achieved a billion-dollar valuation.
The second bad investment Shaan made was investing in a cryptocurrency that ultimately crashed. Cryptocurrencies are known for their volatility, and Shaan experienced this firsthand. Although it was a disappointing outcome, he acknowledges the risks and uncertainties associated with this type of investment.
Shaan’s Best Investment
One investment that Shaan is proud of is investing in Bitcoin early on. Bitcoin is a digital currency that gained significant popularity and value over the years. Shaan’s decision to invest in Bitcoin yielded significant returns, showcasing the potential that cryptocurrencies hold for investors.
Troubles in US Universities
Shaan discusses potential issues in US universities, particularly in relation to tuition fees. He highlights how universities may overcharge for tuition, causing problems for both students and the state. In recent news, there have been concerns about universities charging excessive fees, especially for international students. This situation puts pressure on both the students seeking education and the state struggling to manage the influx of international students.
The Billion Dollar Valuation
Shaan mentions a company, which is bleeped out, that has achieved a billion-dollar valuation by assisting students with studying abroad. This company provides a software tool to streamline the application process for students. They generate revenue by charging universities for each student they accept. Shaan expresses regret for not investing in this company early on, as it would have been a profitable investment.
Experience with Option Trading
Shaan reflects on his experience with option trading, which he tried out during the COVID-19 pandemic. Option trading involves making predictions about the future price movements of stocks or other underlying assets. While Shaan was initially intrigued by the idea, he admits that his lack of knowledge and impulsive decision-making led to a less than favorable outcome. He shares the lessons he learned from this experience.
Investing in Bitcoin
Shaan shares his personal experience with investing in Bitcoin and the significant returns he gained from it. Investing in Bitcoin requires a certain level of risk tolerance due to its volatility. However, for Shaan, it turned out to be a worthwhile investment.
Frustration with Stock Market
Shaan expresses frustration with the unpredictability of the stock market. He prefers running his own business as it allows him more control over his financial situation. The recent market fluctuations, combined with the uncertainties caused by the COVID-19 pandemic, have left Shaan feeling uncertain about the stock market and its behavior.
To summarize, Shaan discusses his worst and best investments, highlighting the lessons he has learned along the way. He emphasizes the importance of personal control over one’s financial situation, whether it be through investing, starting a business, or making strategic decisions. From missed investment opportunities to successful ventures, Shaan’s experiences serve as valuable insights for anyone navigating the world of investments.