Manage episode 126166636 series 57878
Patrick McGinnis has a new book out called 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.