Mafia Boss: I Was Making $1.4 Million A Day! - Michael Franzese

TL;DR

Michael Franzese, a former Colombo family captain, describes generating $10M/week through a gasoline tax fraud scheme involving 18 shell companies, leading to $1.4M/day in personal income. He explains the mafia's strict hierarchy, the "sit down" negotiation process, and his eventual exit driven by his father's betrayal and a conversion to Christianity after meeting his wife.

Key insights

• There are two levels in the mafia: racketeers (business-oriented earners who elevate the family) and gangsters (enforcers who don't know how to leverage the life for business); Franzese identifies as
• The "sit down" is a structured dispute resolution method with strict rules: you cannot call a liar a liar even when they are lying, the boss's decision is final with no appeals, and the meeting ends w
• Being "on call" 24/7 means leaving even a dying mother's bedside if the family summons you; this pledge is part of a 2.5-year probationary period before becoming a "made man."