Story
Felix Dennis built Micro Warehouse from zero to public in 4-5 years
Discussing the missing 'software publisher' model, Sam recalls the 1980s-90s software-store era: SoftBank used a tech magazine to sell software, and Felix Dennis's Micro Warehouse went from zero to a publicly traded company in about 4-5 years acting as a warehouse store for software.
“His name was Felix Dennis, and he had Micro Warehouse, and it was a warehouse for software, and you could go and buy whatever you want. And they went from zero to publicly traded company in like 4 or 5 years. Massive.”
Tactic
Skip the wealth advisor under $10M — DIY index funds
The subreddit's general sentiment, which Sam agrees with: if you're worth under $10M and aren't doing complicated estate moves, paying an advisor 1% is crazy. A young person can put 85-90% in a Vanguard total market fund and the rest in bonds/cash and be fine.
“I think you could be pretty aggressive and put 85 to 90% into a Vanguard total market fund and the rest in some general bonds and cash mix and not really work that hard at managing your money and not have a wealth advisor. And I think you'll be totally fine.”
Steal thisIf you're under ~$10M with simple finances, skip the 1% advisor — put 85-90% in a Vanguard total market fund and the rest in bonds/cash.