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July 30, 2020

Talk Money Weekly #002 - The Rules to Being Great With Money ๐Ÿ’ฐ

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Mesh Lakhani

Hey Everyone,

This is Issue #002 of the Talk Money Weekly. We all know that money makes the world go round. Money influences every facet of society, what we do, the decisions we make, and the content we consume.

To get your mind moving on the topic of money every week, Iโ€™ll curate and share trending conversations around money, business, current events, and pop culture from Twitter, YouTube, and my favorite podcasts.

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๐Ÿ“ˆMarkets & Business:

How a Love for Wine Created Mike's Hard Lemonade & White Claw


This might be one of the most incredible stories I never knew about. I don't want to ruin it because it's fun to go through the thread yourself. Let's just say, to finance your passion, you never know what you're capable of creating.

Getting the Best Products at Cost

This is an interesting model. Lots brands source their goods from the same place. Buying at wholesale, marking it up and then selling to the consumer. Italic offers you the same goods at cost by charging you an annual fee of $100. I signed up and took a week to get off their waitlist. I'm eager to test it out.

What's a SPAC? And Why is it a Sign of Bubble?


The Compound Show with Downtown Josh Brown: Yes it's a Bubble, DraftKings, Nikola, Bill Ackman, SPACs, Tesla's Index Run with Larry McDonald

Since 2008, I've always been a fan of wealth manager Joshua Brown (The Reformed Broker). He's transparent and was one of the first investor types to build a massive following on twitter. 4 mins into the podcast he talks about SPACs, and why they're signs of a bubble. He also explains what a SPAC is, which of course is helpful. He's skeptical and his reasoning is legit.

How Does the US Compete with China?


All-In with Chamath, Jason, Sacks & Friedberg: E5: WHO's incompetence, kicking off Cold War II, China's grand plan, 100X'ing America's efficiency
Get 4 tech bros in a room, all of whom are super financially successful, but come from 4 different political stances...and you actually get productive conversation. 40 mins, hear the discussion on how the United States can compete with China when it comes to manufacturing and production. It's riveting stuff. Seriously.
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๐Ÿ’ฐPersonal Finance:

You Don't Need to Start a Company to Build Wealth

Finally! Not everyone needs to start a company to get wealthy. The chances of that happening are slim. Most businesses fail. There's a much higher chance of building wealth with a great career. See below for the rules.

The Rules to Being Great With Your Money

Yes. It doesn't get simpler than that. The ones who do finance well, follow rule #1. I'm not always the best at rule #1, but the Pandemic has made me rethink the cost of my living.
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โšฝ Sports:

Two Brothers Buy a Team for $1M & Make $800M


Joe Pompliano has a great newsletter on how the business of sports works. This is a story of knowing the value of what you have, having tunnel vision and not selling too early. This applies to so many other businesses. Sports at the end of the day, is a business.
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๐Ÿ›๏ธ Politics:

@AOC Just Leveled Up

AOC is incredibly smart with how she uses social media to engage with her base. In an IG Live, she was able to raise $40,000 in 30 mins for undocumented workers. She understands the power of direct distribution, and is using it for causes she cares about.

That's all for this week! I hope you enjoyed the first issue of Talk Money Weekly. If you haven't already subscribed to my podcast, Talk Money, do so here. Season 2 may have ended but Iโ€™m launching an exclusive bonus episode soon about a topic close to my heart and Season 3 is in the works.

Want to chat? Tweet me at @meshlakhani. If you this email was forwarded to you by a friend, subscribe here for updates!