@SenWarren You clearly don't understand simple economics. Wealth, by and large, is created through the value you create in the marketplace (ie. others) and are rewarded for it.
@drgurner@Gavel_on_X X very much is an echo chamber when it comes to AI. You fall victim to thinking that everyone and their mom is using AI. When you step outside you realize most people aren't and if so, understand only the basics of it.
As someone who's raised capital and has been in this space for 15 years, here are my thoughts for what its worth.
When I read about this guy losing $15M of investor capital, my first thought is "What went wrong? And is there actual real accountability or is this just a PR damage control post attempting to disguise itself as "accountability."
He starts by saying that he's not blaming the economy, they followed him as the leader, but yet spends the next 9 slides explaining how rates spiked, insurance spiked, taxes, hurricanes, cap rates all went up and he was forced to exit.
He then says that had he been able to secure a longer term loan when he bought it, he could have survived. As someone else commenting on this rightly pointed out, an investor that doesn't understand basic floating rate debt shouldn't be raising capital. As well as the discipline of walking away from any deal that he couldn't secure fixed debt on.
Instead of asking himself what skill deficiency or what he overlooked as real accountability, he doesn't bring that up.
What's ironic is he posts several days prior to this post on "sins" investors make about bad math and not doing their real due diligence. (pic #2). Clearly he didn't follow his own advice and forced the numbers to make sense. He specifically talks about rents will go up, repairs won't be that bad, vacancy and CapEx won't bite, which is exactly what he didn't account for. and thus lost his investors money. And he's selling a course on how not to do it.
Dude is in PR control more than actual personal accountability or self reflection.
@MikhailaFuller@CCHR has been documenting the harmful effects of psych medication for many years now. They have multiple documentaries on it, with a recent one talking about the horrible effects of akathisia.
@drgurner Never seen either of these two shows but I’ve said the same thing about why ‘friends’ became such a popular classic and available on just about every passenger flight screen.
People connect with the simplicity of it.