Chris Sacca - The World's First "Degenerate" Billionaire
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- Опубликовано: 2 июн 2024
- Are you familiar with Chris Sacca? You might’ve seen him on Shark Tank and a couple of other financial shows. Well, Chris is likely the best tech investor of all time. Chris’ best-performing VC fund has generated an astonishing 250X return. And when you consider that his investments included the likes of Uber, Twitter, Docker, Kickstarter, Instagram, Medium, Streak, Stripe, and Twilio, it’s really not surprising why Chris is a billionaire. But, while Chris’ investment record has been stellar, his risk tolerance is even crazier. Even before Chris got involved in VC or even got a job for that matter, he was able to make over $10 million using just $10,000 worth of student loan money during the dot-com bubble. Unfortunately, this eventually turned against him and he ended up owing his brokerage $4 million. Chris didn’t file for bankruptcy though. He crawled himself out of that massive hole and became one of the most legendary investors of all time. This video tells the story of Chris Sacca and his insane investing journey and risk tolerance.
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Timestamps:
0:00 - Chris Sacca
2:13 - Losing It All
5:50 - Comeback Of A Lifetime
8:45 - Risking It All Again
Thumbnail Credit:
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Resources:
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Disclaimer:
This video is not a solicitation or personal financial advice. All investing involves risk. Please do your own research.
www.silomarkets.com/disclosures 
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"Gentlemen, when I first started my journey to becoming a millionaire, I had just two things in my possession: a dream, and $8.4million in seed funding."
And placement within the timeline during the early stages of Twitter and Instagram
🤣😂
Survivorship bias. While this guy is undoubtedly skilled, there’s probably tons of people that did the exact same thing but got unlucky and failed.
Probably haha
He was also lucky
If you keep taking risk as per your risk capacity over and over again, you will eventually succeed. In this field of entrepreneurship, connections are way more important than money. As long as you can afford to have your survival needs met, have the hunger to learn and save up some cash, one can hit the millionaire mark in the span of around 10 years.
Assuming you look at your failures and learn from it unlike buying a lottery ticket. Learning from failures and making connections offers you domain expertise. As this grows, the "Risks" get less risky as they become safer bets with domain expertise.
Don't forget that he had an excellent education and was a LAWYER. Without that career, he never would have met the people he did to enable his success.
Still, certain patterns have a higher probability of success, while others have a higher probability of failure.
Meaning luck can be carefully created/ navigated ... By stacking up favorable habits and situations and rigging the game in such a matter that when opportunities materialize, they are easily converted to success.
Chris Sacca the world’s most successful gambling addict.
This was great!
Subbed!
Thanks man!
A lot of student loan funded Robinhood accounts getting opened up after this video.
hahaha
😂
It's not that bad of an idea,the rates on student loans are like 6%-7%, which is high but manageable, and even if you fail to pay it, not much is going to happen if the amount is 10k to 20k, your credit score will be trash but who cares? You can't afford a car or a home anyway
Use that money to bet on Nvidia, if you are successful, probably you will have 200k USD, if you fail, trash credit score but nothing else
It seems risky but it really isn't
@@philoslother4602 I would say AMD, not Nvidia as Nvidia is already really high. I highly doubt they will hit $2T.
EDIT: Nividia is at $1.9 it's bad to play to think they will go up past $2T as Apple is only $2.6T and Microsoft is $3T. Maybe in like 10 years, they could go up 10x, but that's not a smart move to do that while getting your bachelor's.
Great video as always
Thank you as always Balpreet!
Another banger RUclips video
This is why I’m subscribed:
Informative and interesting videos on Tech and Business
And now a subscriber of your newsletter.
Thank you good sir 🔥
Glad to hear that Jerry!
I needed to listen to this. I know what to do now
Great video.
Thanks man!
Great video
Thanks Afraz!
More stories like this please
Sacca: I'm the world's first degen billionaire
Soros: too late
Stop with the racism.
First time to hear about this guy. He sounds like a very lucky guy...or genius.
Maybe a bit of both haha
He just has a massive appetite for risk and a great capacity for strenuous work
@@dream1430 plus being in the right place every time 😅
Luck is statistics taken personal, Nasim Taleb the man hated by all of Wall Street because he broke the game and called it bed.
Good video man keep it up
Thanks man!
This story has so many holes that I’m contemplating not watching further.
Chris has a 4mm loan that he “negotiated” to $2mm since he didn’t want to declare bankruptcy…okay…how?? His parents??
Chris started a company that sounds shoddy (shoddy, not shady) and he would fake it till he made it…hired his law buddies who were out of a job, then umm got a contract from google on a top secret project….yall…does this make sense?
Everywhere he went he became friends with the founders. From starting that shoddy company, he got w lucrative offer from google that cleared included so much equity that when google when public, he was set for life.
I’m pretty sure Chris himself has told this story. People always leave out the details eg how much assistance they were given by being privileged. I’m privileged too actually. I just don’t hide it.
Exactly what i was thinking, he fell in to a debt pit several times and he got pulled out by family or friends, but he tells the story like he "negotiated" or "contracted" his way out of it.
In situations like this brokerages are desperate to recover any money they can cause most people would just file for bankruptcy and not pay back a cent. So you have quite a bit of negotiating power just based on that itself.
@@LogicallyAnswered I don't know how to feel about this fact
The real key to success is not in developing a comparative advantage the first time, but in being able to fail and try again until you get that one lucky break to pay off all the past attempts. A big reason why most visible success stories are pale, male, who know guys from Yale is because they enjoy multiple generations’ worth of wealth and prestige to prop up each other when biasing their graciousness towards like-minded “potential” while ignoring past performance.
@@strangelaw6384 if i owe you $1,000 its my problem. if I owe you $1,000,000 its your problem.
Please make a video about tech layoffs recovery predictions
First time hear that this guy was from Lockport NY. I’ve lived here all my life and never heard that before
Wow, its amazing how many huge companies got their start from VCs like this. I wonder if this strategy can be replicated?
Definitely can. Maybe not into the billions, but definitely into the tens of millions
One of these days, you will be telling my story 😎
Good luck man :)
Good luck
Keep that belief. All the best
second degenerate billionaire
I legitimately want this to come true for you homie!
the lesson here is very clear: you should always bet it all
Hahaha
99% of gambling addicts quit just before they hit it big
*As per your risk capacity
Your content is soooooo Xlnt !!!!!!
this is my favorite channel - it’s like crack for my hunger to learn and succeed
🙏
Enjoyed your content, Ty!
This guy took the saying "the biggest risk in your life is to not take risk" and ran within to the moon
Calling a son of a professor and an attorney ‚upoer middle class‘ must have been the understatement of 2024 :D
Sounds like a typical upper-middle class background to me, what would you call it? I don't think that's "elite" enough to qualify one as upper class.
That's seems pretty upper middle class
*My greatest concern is how to recover from all these economic and global troubles and stay afloat🙌🏻🙌🏻🙌🏻🙌🏻 especially with the political power tussle going on in US. The government has really called things more difficult for its citizens, and we can't sit back and bear all the consequences of the bad governance. We need to take our financial life serious... I recommend stock market investment and digital currencies*
Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Angela Christine Derle, has been an amazing experience.
YES!!! That's exactly her name (Angela Christine Derle) so many people have recommended highly about her and am just starting with her 😊from Brisbane Australia🇦🇺
Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down 🤦♀️of myself because of low finance but I still
believe in God
I'm favoured, $60K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Ms Angela 😊🎉
Thanks for the recommendation 🙏 how can I get to her ?
I haven't watched Shark Tank before other than in clips on RUclips, but I'm thinking I'd rather see a spinoff where the investors are people who got rich quick in crypto or winning the lottery instead of successful entrepreneurs. It'd be interesting to see if they could make good picks or if they would lose money or basically get outright scammed by contestants.
😂
Great videos these days but just a small suggestion
8:45 these chapters intro take a lot of time,maybe reduce the chapter intro time
The ominous music throws the whole video off
Money is not Sacca's motive, he doesnt care about money..he loves risk
2:20 whoa. I was born the same day/year.
Do you have a team to which you outsource some of the research or are you the solo researcher on all these topics?
Up until this point, it’s all me :)
@@LogicallyAnswered
So what's the monthly coffee expenses?
dude has russ hannamen energy
Already watched the entire video🙃😅
Must’ve watched at 4x speed haha
people share this video this channel deserves 1 million subs he works hard and makes great tech content
🙏
He shall reach it himself :)
for every 1,000,000 degenerate gambler that gets cleaned out, there is one that makes to legendary billionaire status.
Yep hahaha
At which point does it stop being investement and start just being a gambling addiction ?
I always thought Shark Tank was a show on Netflix
Lol!😂
Lucky gambler made a smart played exit.
Shouldn't really be an inspiration story 😅
I though this was a Benjamin video.
yo lmao wtf I never knew he was featured in billions
Stop calling us degenerates as a former wall street bet member i feel offended
5:30 any details into how chris NEGOTIATED with banks to reduce his obligations from $4mm to $2mm??? Coz umm it smells like his parents or someone saying they’ll pay half of it upfront.
Just saying “negotiated” makes it seem like he had some leverage.
Hmmmmmm
Not necessarily. In situations like this brokerages are desperate to recover any money they can cause most people would just file for bankruptcy and not pay back a cent. So you have quite a bit of negotiating power just based on that itself.
One thing that stuck out to me was 'But yesterday I was leaked some confidential documents from a limited partner in Lowercase Ventures Fund I'.
That sounds more like insider trading to me? Not 100% sure on the context though.
I wouldn't idolise this man by any means though, I am curious how many bankrupt ex-friends he has in his wake.
Sounds like an irresponsible 'lucky' guy to me, a la Trump, constantly bailed out because people couldn't afford to let him lose, so failed till he got lucky.
If you believe this, you'll believe anything.
the worlds firs daddy
Hahaha
FYI - SUNY is pronounced "soo-KNEE". Still a great video as always, but you made all of your New York State viewers cringe for a moment. 😂
Oops, thanks for the clarification Joe
@@LogicallyAnsweredI’ve never met a less humble Joe in my entire life…
I never even really herd of this guy lol😂
Well, now you know!
@@LogicallyAnswered yeah you did a good job. He still seems like a douche bag though. No matter how much you spiced him up like Joe Dirtè🤣🫠
Another rich jew with connections
calm down kanye
Facts
Learn what AKA means. It’s not used how you use it.
First❤
Thanks for being early Choqao!
Nah...I do better
Anyone in 2024?
Kevo was a douche-call him out...Chris is good!
on-truh-pren-noo-ers?
Uh, no. Ugh. Fail. Do it over. From the start.
Entre: on-truh.
pren: pren.
eurs: ehrrs maybe?