The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 49 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Codie Sanchez crossed the U.S.-Mexico border illegally hundreds of times
“I mean, I saw, I've crossed, crossed the border hundreds of times illegally, documenting sort of what happens in conflict zones.”
Codie Sanchez argues that remote work making people happier is a lie
“Some of the research shows, one, higher levels of depression and anxiety with work from home. So I actually think that was a great lie. It was a big, beautiful lie. That sitting in our sweatpants, in our house, on Zoom meetings all day would actually make us h…”
Sanchez: Starting with a corporate 9-to-5 job is super underrated
“But I think starting with a nine to five is super underrated today.”
Sanchez: Startups will not offer structured training programs
“And you go to a startup, there's no way they're putting you through a training program. There's no way they're critiquing your PowerPoint skills. You know, everybody's just barely treading water.”
Sanchez: Wealth Comes From Earning, Not Investing Without Capital
“Lesson number one is you never get rich investing. You get rich earning. And so the only people who are going to tell you to go invest first to make your first million are people that are trying to sell you something. Because it's just really hard to make mone…”
Interacting with wealthy peers boosts low-income individuals' lifetime earnings by 30%
“If you are in this neighborhood, and even if your family is in that 50,000 dollars a year bucket, but you interact with some of those rich people, aka you have more Economic interconnectedness. This group of people has a 30% higher earnings over the course of …”
Sanchez: Most new hires fail from lack of effort, not capability
“I mean, most of the reasons that people don't work out when you hire them is, is not capability, it's effort. And so if you can decrease the likelihood that you won't work hard for them, you have a much higher likelihood of getting the gig.”
Vanguard offers low-stress stability but pays at the industry's bottom
“If you want to go work nine to five, have probably little to no stress whatsoever outside of work not have to work a ton, be able to take vacation days, have a low likelihood of getting fired, go work for Vanguard. Like, they're great at that. Like, they love …”
Sanchez: Professionals Should Embrace Intense Hustle Work Culture When Young
“I don't think you have to do it forever, but you should do it when you're young. And if anybody's getting triggered thinking about, well, I wouldn't want to work for Cody because she's super tough, and she's going to make me work really hard. I think it's a tr…”
Sanchez: Asking candidates about recent all-nighters reveals true obsession
“One of my favorite questions is, when was the last time you pulled an all-nighter? You stayed up all night working on something that you loved? And a lot of times you can tell if somebody is an interested versus obsessed person by the fact that they're like, Y…”
Sanchez: It has never been harder to build a profitable business
“I think it is, it's very hard these days to make a profitable business. I think there's never been a harder time to make a profitable business. Never been an easier time to start a business.”
Wealthy people deflect rejection as feedback while poor mindsets accumulate it
“So rich people have gotten told no so many times. They've been rejected so many times that it almost just bounces off of them. They kind of go, yeah, I'm gonna do it anyway. Thanks for the feedback. I'm gonna try it. I think poor people They have confirmation …”
Sanchez: Allies want you to win while friends keep you at their level
“And I think that's the difference also between allies, those are people who want you to win, and friends, who are people that want you to stay with them, whatever level they're at.”
Sanchez: Discarding Relationships When You Outgrow People Damages Your Reputation
“I don't think that people realize the repercussions of not allowing other people to rise with you. And in fact, your reputation is one of your most valuable assets”
Public figures inoculate their reputations by consistently voicing unpopular truths
“And then we do what's called inoculations against reputation, which is basically
Can you say things a few times that you think are very, very true, but you know will be very, very unpopular?
And if you do that so often, then people don't get that surprised by…”
Sanchez: Hesitating to fire underperformers stems from managerial ego
“I think it is the peak of ego to be like, oh, I shouldn't let this person go because they have it better with me than anybody else. I don't know. I believe in their individual capacity to go and do something great that lights up their soul. And if this isn't i…”
Women wearing makeup earn 15% more annually than equally attractive peers
“There was a fascinating study showing that women who wear makeup but have the same
attractiveness pull in a group of people. So everybody, so you were all sevens, let's say, but a seven who wears makeup versus a seven who doesn't wear makeup will earn 15% mo…”
Sanchez: W-2 status offers a low-risk wage base to buy assets
“I think W-II is just your tax status. And actually, it doesn't matter. If you, are you not smarter than the average entrepreneur if you are a W-II employee, and you use the wages earned with zero risk, because you're working with somebody else, to invest in as…”
Sanchez: Finance is the top category of individuals on the Forbes 100 list
“So the number one category of people on the Forbes, 100 list is some version of finance, whether that's buying and selling companies, whether that's being an active investor in equities, whether that's being in, in hedge funds, but that's the number one way.”
Codie Sanchez: Financial Freedom Is About Autonomy, Not Working Less
“And then with financial freedom, it wasn't that I wanted to work less, it was that I don't want other people to assert their will on me.”
Employees must quantify their profit center status to maximize earnings
“It's the best way to make more money is to figure out, one, are you a cost center or a profit center? And then two, how much of a profit center or a cost center are you? And if you can do that, it's not just that you're helping your boss and the company. You a…”
Sanchez: Workers in Their Twenties Should Optimize for Learning Over Earnings
“So I think when you're in your twenties, you're in your learning phase. You still want to try to increase your earnings, but if I had to choose between earning more or learning in that period, I'd optimize for learning because learning has unlimited upside pot…”
Sanchez: Wealthy People Want to Help Driven Individuals Who Mirror Them
“When rich people see hungry, driven, competent humans, by and large they want to help because it's rare and you are somehow a mirror for them.”
Sitting near low performers decreases employee productivity by 30%
“And there was another study that I thought was fascinating about underperformers and high performers. And the study basically showed it was hundreds of employees at many different companies, and it was about proximity. So the, if you sat next to a high perform…”
Sanchez: The best way to secure mentors is direct employment
“I think the best way to get mentors today is go work for them. You know, don't ask you to do stuff one off, go to the highest performing companies you think you can get into. And if they're not that switch to another one because you get paid to get mentored.”
Silicon Valley prefers co-founders because founder capitulation is the top risk
“The research shows, by and large, the reason why Silicon Valley wants two founders is because the number one risk for investing in a company is that a founder gives up. Number one.”
Sanchez: Pain tolerance directly increases an entrepreneur's odds of success
“The more pain you can tolerate in business, the higher likelihood you'll succeed over time. It's just shots on goal”
Sanchez: Firm requires one-year observation period if gut check fails
“If I don't like it on the first go, then we're waiting a year is our new rule. So if I feel any sort of anything, doesn't mean I'll never do a deal with a person, but I'm going to watch them for a year. It's kind of hard to fool somebody for a full year.”
Sanchez: Firm performs forensic audits on most potential business acquisitions
“And then the second thing was we now do forensic audits on most of these businesses, which basically means you get somebody to get in there and you get really deep into the numbers because even if they're not committing fraud, a lot of entrepreneurs Aren't the…”
Sanchez: First-time founders must run one business until it is self-sustaining
“If it's the first rodeo and the first time you've ever run a business, do one thing really well until that thing is profitable, self-sustainable, and you don't have to focus on it a hundred percent of the time. A hundred, that's my rule.”
Research shows happiness increases up to $500,000 in income, then plateaus
“It shows that happiness increases post 500 K in income or up to 500 K in income. After 500 K, there's sort of these plateaus, and it's not really materially different.”
Sanchez: Extreme Success Causes Friendships to Dissolve by Acting as a Mirror
“When you become really successful, you are a mirror on the things somebody else could have been, and so you are a reflection of every decision that they made that was short-term as opposed to long-term, and so I've lost many a friend by the mirror”
Sanchez: Non-Transactional Friends Boost Happiness While Transactional Ties Lower It
“These friendships end up materially increasing our happiness, these worthless friends, whereas these transactional friendships actually end up in many ways decreasing our happiness.”
Sanchez: Online trolls only exist in your life if you allow them
“If you mute, block these people, ignore, they don't exist in your sphere. They're not in the room with you ever. They're not in your business. They're not in your friend group. You're not shaking hands with them. So the only way they exist is if you allow them…”
Sanchez: Internet fame and online brands are never accidental but meticulously engineered
“People who are very famous and well-known on the internet, they're obsessed with their reputation and brand.
It is never by accident.
This shit is cultivated.
It is created.
It is mocked up.
It is PowerPointed.”
Between 80% and 98% of Dwayne Johnson's Instagram posts are ads
“When you look at The Rock's Instagram, for instance,
Count for me next time, just for shits and giggles, how many of those pieces of content are an ad for, like, his energy drink, for his face cream, for his next movie, for his, you know, XFL, for WWE.
Almost …”
Sanchez: Fastest way to make money is selling other people's valuable products
“I think the fastest way to make money when you have no money is find other people who already have something valuable and sell it to other people.”
Sanchez: Acquiring boomer businesses via seller financing is heavily underutilized
“If you did that with a boomer based business where that boomer wants more sales, needs somebody young and hungry, you could negotiate part of that business just to apprentice for them and take it over over the long time using seller financing. And that I think…”
Sanchez: Learning Uncomfortable Negotiations Is the Best Way to Start Making Money
“And if you don't have money right now, and you don't know how to make it, one of the best ways to start is just to learn to negotiate things that you don't want to”
Sanchez: Resilient businesses collect payment upfront and leverage the Lindy effect
“In my definition, good business equals profitable, cash flowing, what I call a cash flow versus cash suck business, so you get paid up front for a service, not after you provide a service. Sustainable, it can exist for a long time. Historical, it has existed f…”
Three metrics reveal if a business has product or marketing problems
“Three things, three numbers you need to look at. If you want to figure out if you have a company that needs to sell more things or needs to create better things, you need to figure out, one, what's your referral rate? How often do your customers tell somebody …”
Sanchez: First business hires should possess skill sets opposite the founder's
“Oftentimes your first hire in a business Needs to be somebody who can do the opposite of what you can do.”
Sanchez: Most hiring failures stem from poorly defined problems and roles
“I think most of the reasons why good hires do not work out is because the person and the problem set has not been clearly defined.”
Codie Sanchez demands candidates turn around paid project scopes in 24 hours
“I'd love to pay you a thousand bucks to do a project scope for me. That would be amazing. Like, how fast could you turn around a project scope for me? And if they're like, oh, a week, I'm like, oh, that's not my guy. It needs to be a 24 hour window.”
Sanchez: Attracting top talent requires an outsized vision and visible competence
“The right ask is, how do I create a vision so big That other people think their vision is bigger with me. And then the second question is, how do I become so good that they want to be with me and work with me because they think that I'm better in some instance…”
Sanchez: Company uses structured 30-60-90 day plans with three-strike termination rules
“When people come onto my company, a hack to never have somebody be surprised by being let go is to start with a 30, 60, 90 day plan with every single person that you bring on board, even a new assistant. And those 30, 60, 90 day plans have very specific outcom…”
A small business needs 20 positive reviews to counteract one negative review
“The average small business needs 20 positive reviews to overshadow one negative review.”
Regulatory changes wiped out Codie Sanchez's multi-billion-dollar State Street fund overnight
“I ran a business where we sold money market funds to big pensions and sovereign wealth funds. And overnight my business was eviscerated. I mean, I'm talking about billions and billions of dollars in assets under management. It was at State Street, so it wasn't…”