Apr 25 2016 27 mins 2
Patrick McGinnis has a new book out called
"http://amzn.to/1rd0uVy">The 10% Entrepreneur. It's a novel
idea that has the same roots as Nassim Taleb's barbell investing
approach. Nassim Taleb suggests putting 10% of your
assets in high-risk high-reward assets that could multiply
enormously and the other 90% of your assets in plain old cash.
That way you can never go bankrupt, because only 10% of your
assets are exposed.
Similarly, Patrick McGinnis suggests investing 10% of your
time in entrepreneurship and 90% of it doing something safe like a
day job. Only when your idea proves itself viable do you quit your
job and start looking for venture capital, if you even want to go
that path.
James Altucher talks about this all the time.
He didn't quit his job until his side project could pay for
his lifestyle. This week, we talk to Patrick about this idea
and much more.
