Real Estate Builds Millions

Shaan Puri reflects on different business paths he's explored and shares his perspective on which routes are most likely to succeed, based on his experience with real estate, social apps, and e-commerce.

Key Points:

• Real Estate - "Most Likely to Succeed" Award:

  • Requires no luck, just hard work and "blocking and tackling"
  • Could achieve $10-20M net worth through consistent effort
  • Path to reliable wealth but less exciting/slower-paced
  • Not personally appealing despite guaranteed success

• Social Media Apps - "Worst Idea" Award:

  • Maximum difficulty and highest luck factor
  • Like "trying to catch lightning in a bottle"
  • Massive potential upside (like Twitter/YouTube)
  • Only handful of people have succeeded

• E-commerce - "Mediocre Playbook" Award:

  • Pretty good chance of success with persistent effort
  • Lots of operational challenges:
    • Shipping container costs fluctuations
    • Supply chain issues
    • Facebook ad algorithm changes
    • Need for lines of credit
  • More exciting than real estate due to immediate feedback loops
  • "Never gonna be the most fun or the most successful"

• Best Advice for Starting Out:

  • Choose the path with the most enjoyable journey
  • Focus on what feels like play rather than work
  • Look for emerging waves (genomics, biotechnology, cryptocurrency)
  • Build expertise in new spaces where there aren't established experts
  • Create content around your learning process

• Content Creation (Podcasting):

  • Most personally enjoyable path
  • Keeps you learning and engaged
  • Can build audience and monetize through various channels
  • Opportunity to stay current with new trends and technologies