Early Adopters' 10x Returns
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Ryan Begelman shares a story about his friends' aggressive early investments in BitCloud.
"All my friends have been up all night. One's in Alaska heli skiing, another one is in Utah - we're all texting all night saying 'Hey who's buying Chuck Norris? Has anyone figured out... oh I just 10x'ed on Gwyneth Paltrow.'
A number of my friends, guys who worked for me at Summit who have maybe $50,000 saved, have put in like a quarter of their net worth and in the last 4 or 5 days have 5 to 10x'ed their money.
They can't get it out yet, but I contacted the founder of a pretty major crypto hedge fund and he assured me that they bet quite a lot on this and that he's confident there will be a way out. The founder also said that eventually there'll be an exchange where you could sell it."
Ryan Begelman
In 2008, He bought into Bisnow Media, became CEO, and bootstrapped it with its founders, Mark and Elliott, from $1M to $20M in revenue and ~$7M annual profit. In 2016, as Fortune reported, He sold Bisnow to a private equity firm. Today, Bisnow is the largest producer of commercial real estate news and events.
He also cofounded Summit. Named by Forbes “The Davos of Generation Y,” Summit gathers leaders and features icons like Jeff Bezos, Richard Branson, Shonda Rhimes, Jessica Alba, Reed Hastings, Brené Brown and Al Gore.