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Buffett’s Money Wisdom, Galloway’s $100M Advice & Why Newsletters Suck (#493)

From My First Million · Published Jul 4, 2024 · Watch on YouTube

TL;DR

The speakers discuss insights from Scott Galloway’s wealth philosophy (make money in America, spend in Europe; more money from board equity than companies) and Warren Buffett’s traits (genius-level math, extreme discipline, high integrity, but poor father/husband).

Key insights

  • Scott Galloway says he made more money from board equity than from building companies; the speaker made more money investing in ecommerce SaaS tools (e.g., Triple Whale, Postscript, Numeral, Final Loo
  • The speaker invested $75,000 in Triple Whale at a ~$5M valuation; the company is now worth hundreds of millions (~40x–50x), yielding ~$3M on paper.
  • Warren Buffett: IQ in top 1%, can do complex deals in his head without a computer; shut down his fund in the 1960s when he saw no good opportunities (extreme discipline); only sued once; was investiga

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