In this episode of the My First Million podcast, Greg Isenberg shares his insights on investing in cryptocurrency and discusses his experience with Garrett Camp, the co-founder of Uber. Greg reflects on the missed investment opportunity with Uber and emphasizes the importance of living and learning from such situations. The conversation also touches upon the advantages of paying to be a part of something and gaining knowledge and experience along the way, regardless of the outcome. Hosted by Shaan Puri and Sam Parr, My First Million celebrates the entrepreneurial spirit and offers valuable tools to bring your ideas to life. Whether you’re a crypto enthusiast or looking for inspiration to embark on your own journey, this episode is worth a listen!
Should you invest in cryptocurrency? Greg Isenberg gives his recommendations and talks about knowing Garret Camp when Uber was a small company and how he missed out on an investment opportunity. Shaan and Greg also talk about the idea of living and learning and Shaan explains how it is beneficial to pay to be apart of something as long as you are able to tag along on the journey and learn regardless of the outcome.
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Should You Invest In Cryptocurrency?
Cryptocurrency has become a hot topic in recent years, with many people wondering if they should jump on the bandwagon and invest. But is it a wise decision? In a recent interview on the My First Million Podcast, Greg Isenberg shares his thoughts on cryptocurrency and offers his recommendations.
Greg Isenberg Interview (Talks Uber)
During the interview, Isenberg also discusses his connection to Uber and how he missed out on an investment opportunity. He recounts knowing Garrett Camp, one of Uber’s founders, when the company was just starting out. Isenberg admits that at the time, he didn’t see the potential and wasn’t convinced enough to invest. He reflects on the lesson he learned from this missed opportunity and emphasizes the importance of living and learning.
My First Million Podcast
The My First Million Podcast, hosted by Shaan Puri and Sam Parr, celebrates builders and offers tools and insights to turn ambitious ideas into reality. The podcast features discussions with successful entrepreneurs, like Greg Isenberg, who share their experiences and lessons learned. It provides valuable advice for aspiring entrepreneurs and investors.
Knowing Garrett Camp and Uber
Isenberg’s recollection of knowing Garrett Camp, one of the founders of Uber, sheds light on the early days of the now global ride-sharing giant. Isenberg explains how he met Camp and observed the growth and development of Uber. He admits that, at the time, he didn’t fully grasp the potential of the company and missed out on an investment opportunity. This anecdote serves as a reminder to always keep an open mind and be willing to take calculated risks.
Missed Investment Opportunity
Isenberg’s story of missing out on an investment opportunity with Uber serves as a cautionary tale. He shares how a friend of his had the chance to invest in Uber during the seed round, but, like Isenberg, was skeptical about the concept. This friend, who Isenberg regards as extremely intelligent, couldn’t see the potential in Uber and passed on the opportunity. It highlights the importance of recognizing opportunities and having the foresight to see the potential for success.
Living and Learning
Isenberg’s reflection on missed investment opportunities highlights the idea of living and learning. He acknowledges that it’s natural to make mistakes and miss out on opportunities, but what matters is the lessons learned from those experiences. It’s a reminder that setbacks and failures are an integral part of the journey towards success. By embracing these experiences and learning from them, individuals can grow and improve their decision-making abilities.
The Benefits of Paying to Be a Part of Something
Isenberg also shares his perspective on the advantages of paying to be a part of something. He describes it as getting “skin in the game” and being actively involved in the journey. By investing even a small amount, individuals gain firsthand experience and knowledge about a particular industry or concept. This involvement allows them to learn and understand the inner workings of the field, regardless of the outcome of their investment.
The Importance of Being Involved in the Journey
Isenberg emphasizes the importance of being involved in the journey, even if you’re not directly leading it. He believes that by participating, individuals gain valuable insights and experiences that can benefit them in the long run. Being on the sidelines or simply observing may limit learning opportunities, whereas active participation allows for personal growth and development.
Investing in Cryptocurrency as a Hedge
Isenberg suggests that investing in cryptocurrency can be seen as a hedge against traditional investments. He recommends allocating a small percentage, around two to five percent, of one’s net worth to cryptocurrency. This approach allows individuals to diversify their investment portfolio and potentially benefit from any growth in the cryptocurrency market. However, Isenberg also acknowledges the volatility and risks associated with cryptocurrency investments.
Conclusion
In conclusion, the decision to invest in cryptocurrency is a personal one that requires careful consideration. Greg Isenberg’s insights from the My First Million Podcast provide valuable perspectives on the topic. His experiences with Uber and missed investment opportunities serve as lessons to always keep an open mind and be willing to learn from both successes and failures. Investing in cryptocurrency can be seen as a hedge, but it’s important to approach it with caution and understand the risks involved. Ultimately, individuals should assess their own financial situation and risk tolerance before making any investment decisions.
