Birthday Money vs Home Downpayment
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Sam shares a story about the stark contrast between his family's financial capacity and wealthy families in New York.
"When I think about whose parents would give them $2,000,000 for a down payment on a home, I underestimated how common that actually is. I can't imagine that because my mom and dad - the best gift they ever gave me was when I turned 21, they gave me $1,000, and that was the last birthday present I ever got."
This story came up while discussing how many teachers and artists in Brooklyn own $5 million brownstones, with research showing that 7 out of 10 of these homeowners had professions that wouldn't typically support such expensive homes, suggesting significant family financial support.
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.