The Ledger, every show

“I think America is racing towards a 10% unemployment rate, maybe 20.”

“His point here was, I'm concerned about the chance of a crisis, and so Balaji thinks there's a 10% chance of a crisis happening soon, a 70% chance in the next two years, which is scary because he's very smart.”

“I just told my team today that we found that hiring a remote assistant has a better ROI for my company than using AI.”

“I remember when I told Peter Thiel that he should invest in the company and Peter said, it's never going to be a big company. This vibe coding thing is sort of ridiculous. And he put it in an email”

“But a really scary study, they did a follow-on study that showed people who argued more confidently but were wrong were rated even more credible than those who argued not confidently but were right.”

“He said when he first met him in a series A, so the company basically had nothing in existence. His company benchmark had never done a real estate transaction. That's what this guy was asking him to do. But he goes, within the first few minutes, I knew I was g…”

“I think we are in an asset ownership race with AI right now in a way that we don't even realize. Buying businesses and owning parts of businesses will be like getting on the last lifeboat out of the Titanic. You will either be the person who owns the farm or y…”

“According to the Federal Reserve survey, only 11% of Americans earn any passive income at all. And of those, 75% comes from real estate requiring some management. So truly passive monthly income represents less than one percent of all income earned in the U.S.”

“Shopify says, 95% of stores, they never make a single sale.”

“Amazon fulfilled by Amazon, so Amazon FBA. 90% fail rate. Or they plateau at, let me tell you how much, a hundred bucks a month in profit.”

“I was reading a study the other day about how there's something like a, like, 20 to 30% increase in salary just from thinking about increasing your EQ and really ignoring IQ, that IQ almost has no correlation between monetary success.”

“Every single leader that I have seen cry in business is not a leader for very long.”

“And I know this because my friends at Sequoia who are big, huge investors, they only allow nonprofits to invest now. They like will not take actively many people's money.”

“Once you realize that, your life will totally change because intelligence really has no correlation with how much money you can make.”

“I think people will become billionaires this year, next year, the next five years as one person companies from AI. I think there will be billion dollar one person companies created from AI, from what I have seen firsthand.”

“I think in the future there will be billion dollar companies made with one person and an army of AI agents underneath it.”

“Do you guys know they are negative margin? Which means if I give you a hundred bucks in a hotel you actually don't give me anything back. You cost me another 15 bucks. They have a -15% margin on average.”

“Those who use AI and are able to integrate it will be able to continue in the workforce on a go-forward basis. For my company and for others. And those who don't, won't.”

“There is little to no research that high IQ leads to higher income. Now there is research that shows really low IQ or very Like lower mid IQ and below does materially show that you're going to make less money. Lots of research showing that, but there's not a l…”

“I mean, I saw, I've crossed, crossed the border hundreds of times illegally, documenting sort of what happens in conflict zones.”

“China has started to use its own currency for most cross-border transactions.”

“Well, Yale says that Ozempic costs less than five dollars a month to manufacture, And yet we're getting charged a thousand dollars a month for this drug. While the exact same product can be bought in Canada for a 155 dollars a month and 59 dollars a month in G…”

“A bunch of the big Democratic donors are saying, I will keep my thirty million dollars I was going to donate to the Biden campaign unless they step down.”

“The average marketing major makes somewhere between 60 to 80,000 dollars a year. The average skilled trades worker after they graduate can make up where of 75 to a 100,000 dollars a year.”

“If you sit next to an underperformer, if an underperformer is sat within a 25 foot radius of a bunch of normal people like you and me, they take your performance down by 30%.”

“NBA all the way to MLB are somewhere between 51 and 45%. UFC is 13 to 14%.”

“When men win the lottery, it's kind of, nothing really changes. They get married at the same rate. They have kids at the same rate. When women win the lottery, the divorce rates double.”

“We'd make more money categorically from the businesses we own than from the community that we own, for instance. So, like, numerically, categorically, that's just the fact.”

“I've never, ever raised money for any of the businesses that I invest in from my audience. Ever. Not once. Not once have I asked for a dollar for that.”

“Reese Witherspoon is worth more than Brad Pitt at an order of magnitude.”

“If you look at the Forbes, 100 list, there is not one person on there who made their money from just investing in the stock market.”

“70 to 80% of businesses will never actually sell that are even listed for sale. Seven to eight out of every 10 owners who walk into the market to sell something walk home with nothing.”

“And when we look at the autopsy of these dead businesses, the number one reason, owner dependency.”

“The more vividly you fantasize about success, the worse you perform.”

“So there's this study we found in by NYU psychologists tracking college graduates entering the job market. And they basically found that the students who spent the most time in quote unquote, I love this line, positive fantasies about landing their dream job s…”

“Also, there is zero correlation. Between having ADHD and being a millionaire, like zero.”

“At University of Penn, they found the same pattern in weight loss, actually. Like the women who fantasized most positively about their future selves, they lost 24 pounds less in one year than the women who pictured the process going badly.”

“He has 60 direct reports, six zero. Most CEOs have eight to 10.”

“Now it sounds brutal, but NVIDIA's employees stay five X longer than industry average. Turnover is two percent.”

“I think they'll re-engineer the computer entirely. Like it won't even look like this.”

“So I mean, just here in Austin, we have like three groups that have made 10 to fifty billion dollars on that.”

“I was really upset when I saw the first, like, female young, or the youngest female self-billionaire was from Prediction Markets.”

“Across my private equity companies now, hundreds of companies and we follow it and it works. And that's why, you know, our companies double or triple every year.”

“I think we've had less than a 10% default rate and we've had a couple hundred Xs, but we've had a lot of four to five to seven Xs.”

“Neuroscience shows you're burning the exact dopamine your brain needs for execution. It can't tell the difference.”

“He had turned down a billion dollars for Replit back when they had no cap, you know, they hadn't even made any revenue yet, because he had been grinding for 11 years before they made really much of anything”

“Because I think the next generation of billionaires will be built in the boring.”

“And over this 30 year period, the women who were labeled as more optimistic, not pessimistic, they lived like 11 to 20% longer than the negative communicating women.”