We heard a lot of people trading on margins, lost a ton of money and never make it back from that ordeal. What if through margin trading, you end up with more than $2 million in debt. How do you turn that shit at a young age into an Angel Investor?
Here is an hour long interview with Chris Sacca, venture investor, public speaker, private equity adviser, and former employee of Google Inc.
What is interesting to readers is how not to lose faith when you are deep in debt and focus on things you are good at.
For folks who hope to create their own business, wants to rejuvenate their careers, techies who wants to know how they all started and basically folks who likes a good video, I urge you guys to watch this.
Here is what is covered:
- Why he started his first start-up
- How he ran out of money for his first start-up, for his law school and turn to margin trading on 200% leverage in the dot com era
- In 1 week, he turn 12 mil in profits to more than 2 mil debts
- About ego-polishing
- Why he cannot declare bankrupt
- How he renegotiated his debt
- How he dig himself out of the hell hole by getting a top law degree
- How he tried to get himself out of debts doing every second freelance jobs for little bit of money here and there
- How he got laid off during September 11
- How he build a false entity online to network with people to do work
- Got a job at a Start-up and end up working at Google before IPO
- Stock options made him worth 1-2 mil
- In 5 years, he finally got his net worth back to zero.
- Why it pays to be helpful and love problem solving
- Providing value before asking for it
- How to get yourself an interview
- Working in Google to buy data center without letting Microsoft know
- How Google built the data centers
- Getting suspected to be terrorists
- Decommission Aircraft Carriers as Data Centers
- About Net Neutrality
- Making Verizon eat telecom spectrum at high price
- Why he left Google
- How to start as an Angel Investor
- How he owned 10% of Twitter
- The vast monetary potential of Twitter
- What is exciting him right now
- Investing in Instagram
- What he looks for in a person – people who have been on shitty jobs, study abroad, plays sports,
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Panzer
Saturday 15th of October 2011
Hi Drizzt
Great story that you picked up. I googled the interview and it can be found here.
http://thenextweb.com/entrepreneur/2011/07/06/chris-sacca-has-an-inspiring-story-to-tell/
Be well and prosper. :-)
Drizzt
Tuesday 18th of October 2011
Hi Panzer, I thought its a good story to share to everyone. It has alot of things that will make a good weekend read.