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Stick with any business 45 years = exceptional wealth
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Key takeaways
- We run 27% net margins." Like think about how shitty of a shitty, right, of a business model that is.
- Who wants to scale brick and mortar fast casual low skilled labor business?
- Some people in this room would give that guy advice, "You should teach other people how to how to sell chicken." And that would be terrible advice for him.
- Cuz what he should do is keep doing it for 45 years and then do 3.7 billion a year in chicken sales with 27% net margins and take home a billion a year in cash every year.
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Full transcript
Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00Almost all businesses, if you stick in them for a long period of time, you can become exceptionally wealthy. Like the guy who owns the building that I live in, he's my neighbor. He owns Panda Express. If he were in this room and he says, "Hey, I own a fast casual Chinese restaurant. We sell Kung Pao chicken and General Tso's chicken. We've got five locations and you know, each location does $3 million a year top line. We run 27% net margins." Like think about how shitty of a shitty, right, of a business model that is. Who wants to scale brick and mortar fast casual low skilled labor business?
0:33Some people in this room would give that guy advice, "You should teach other people how to how to sell chicken." And that would be terrible advice for him. Cuz what he should do is keep doing it for 45 years and then do 3.7 billion a year in chicken sales with 27% net margins and take home a billion a year in cash every year. And do it tax-free because he owns all the dirt and the real estate. It just took him 45 years.