The Exchanges

Q But what's the argument against this? Because they've been around for a hundred years, they're huge, a lot of smart, rich people use it. Surely they're, I mean, what's the value?

A I think the sweet spot, and in fact, I think our Friend Ramit talks about this a lot is I think financial advice is incredibly valuable. I think they serve a really good purpose, but at a certain point, the math ongoing flat fee is just substantially better for you, right? Like if you have five million dollars, fifty million dollars, five hundred million dollars, they don't do dramatically more things. Yet at every step, you pay an order of magnitude more in fees. I think there's a lot of fantastic financial advisors. You pay them Five grand a year, 10 grand a year, 20 grand a year. I don't care. You can easily get an ROI there, but it's the, whatever, one percent of your wealth. That's the part that gets really silly the better and better you do.

AI assessment note: “Yet at every step, you pay an order of magnitude more in fees.”

Q Don't you have, like, a app? I was with you one time, and you're like, oh my god, someone just took my spot as The leader.

A Dude, it's the, it's the worst. It's the game within a game. There's a rating every game you play, and it's insane because I'm playing with people that are all in their thirties, sometimes twenties and forties, insanely good at their professional life, but they have this, like, unmet competitive need, so everyone is so aggressive about their rating, about their ranking, like, and, like, a buddy of mine was texting me after we lost our match, and we were both in a really bad mood, and he's like, He's like, I don't know why I'm so upset. I'm just thinking about my life. I have a wife that loves me. I have a beautiful daughter. Why am I, why am I so angry about?

AI assessment note: “It's the game within a game. There's a rating every game you play”

Q Forget Texas. You're still in federal, paying federal tax. Come to Puerto Rico. What do you think about that? Should you, Should I move to Puerto Rico to save money in taxes, according to Angkor?

A So to me, this gets to the meta level, right? Like, why do we have money? What is the point of money? And I think there's two camps of people. Camp one is like, they look at their life as, as this vessel to make as much money as possible. And other people look at money as a tool to live the life you want. So I very firmly fit into the latter camp where money enables me to live the life I want. Yes, I don't want to pay more in taxes than I have to, And, you know, gamifying the tax system is also fun just because, like, I'm a hustler and it's kind of fun to do, but I want to live the life I want. And to me, that means living where you want. So I, I would, I would personally never ever move somewhere just to save on taxes.

AI assessment note: “I would personally never ever move somewhere just to save on taxes.”

Q Thank you, Sean. Uh, I feel like everyone in my life is, is like all my best friends are Indian. You're like going on a tear on social media saying, uh, like, particularly you're like, you know, East Asian people, we've got the stereotype of, of us not having a lot of muscle. In reality, it's just because we eat like shit. Or what did you say?

A The Indian diet is just by default, not great for building strength, for staying in shape. And things are really bad right now, like an Indian person living in North America, right? So we have the same exact like upbringing, whatever, is anywhere between four to six times more likely to have heart disease, diabetes, like it's just, it's real bad. And now that I guess I have more of a voice on social media and people are listening, I feel like it's something worth talking about since, I don't know, like if I, if I could have some impact over the next 10, 20, 30 years to change that, that would go a long way. But the hardest part is there's this like cultural Like, you know, deniability where Indian people get really mad when you tell them that. Um, if every, even, even now, I mean, you know, if you try tweeting out the Indian diet is like traditionally unhealthy or something, you'll get all these people in India, like getting super, super angry about it. But ask anyone who's ever, I don't know, do you ever count Macro Sam or Sean?

AI assessment note: “The Indian diet is just by default, not great for building strength”

Q And so how did you find this Amish farm? Like what, what was your process to find this, this alternative?

A So it was word of mouth. A lot of my friends were all talking about it. And then someone's like, oh, I get my beef from this place. And I'd actually started out with like, You know, you buy beef, and then you get upsold on all the other products, and now before you know it, my, like, soap is made out of goat milk and shit that's probably not even, not even relevant or helping, but, you know, they have, they have a, they have a pretty, pretty nice business, but yeah, they go straight from farm to, like, they drive out to New York City, they have this little truck, they park the truck on the side of a street corner, you have a 30 minute window to meet them, um, and as much as I joke about it, it's actually pretty cool, it does Improve the quality of my life. I do think the products taste well. Raw dairy is more of a novelty. You know, that's something that like, sure, I'll add four dollars for the, for the raw milk. Uh, but I think breaking out of the US food system, at least, you know, we'll see what RFK does, but in the short term, I think there are a lot of people that will pay quite a bit of money for.

AI assessment note: “So it was word of mouth. A lot of my friends were all talking about it.”

Q question. What else can we ask? He's divulging everything. This is amazing. Well, you sent us this list of topics, and you said, when I sold my company, I ran an A-B test with the money I made. I gave half to Goldman Sachs to invest, and I invested the other half yourself, I assume. Can you just talk about this? Why'd you do this, and what was the result?

A So, like a lot of founders that first sell a business, most of us know nothing about money. I don't know, Sam, if you knew much or whatever, and I, you get hit up by every single one of the private wealth people. They're always in your emails, and you know, you read the big brand, Goldman Sachs, Morgan Stanley. So I talked to them. I couldn't fully tell how legit they were, and I had enough money where I'm like, you know what, let me take a sizable chunk. Let me give them that amount of money and see what they do. The other half, Let me try and learn and figure stuff out myself. And went through sort of the standard startup post exit startup founder thing where you invest probably in too much. You don't say no enough. You go through a period where you think you're an investing genius. Um, but it was cool to sort of see that develop over five years and now to have actual results.

AI assessment note: “cool to sort of see that develop over five years and now to have actual results.”