Ted Dhanik Shares His MOST Valuable Money Lessons 📈 E96
The Money Mondays
Deep Dive
Why does Ted Dhanik believe it's important to talk openly about money?
He thinks it's essential for people to understand financial concepts like taxes, credit scores, budgeting, and salaries. Discussing money openly can help people make better financial decisions and improve their financial literacy.
How did Ted Dhanik start his career and what notable companies did he work for?
He began his career in the mid-90s during the dot-com boom, working for various Silicon Valley companies. He later worked at Lower My Bills, which was sold to Experian, and then at MySpace until 2008.
What problem did Ted Dhanik identify at MySpace that led him to start his own company?
He noticed that MySpace was serving 7 billion ads a day but they were undermonetized. This inspired him to build an ad tech company to better monetize those ads, which eventually expanded to serve top publishers like CNN and Dictionary.com.
How did Ted Dhanik attract talent to his startups, especially during the early days?
He used a combination of perks, such as catered lunches and massage rooms, and the allure of being part of a fast-growing 'rocket ship' company. He also emphasized the core values and mission of the business to attract the right people.
What factors does Ted Dhanik consider when deciding to sell a company?
He believes it's a good time to sell when the company is in rocket ship mode, growing as fast as or faster than ever. He also considers whether the company has hit a revenue apex and needs more financing, which could make selling a better option than raising funds.
Why did Ted Dhanik decide to go public with his ad tech company?
He saw the public market as a way to gain accountability and the ability to raise money quickly. Going public also allowed him to acquire other companies by selling the dream of a public exit, which was more appealing than staying private.
How does Ted Dhanik approach investing his personal wealth?
He diversifies his investments across various assets, including real estate, cryptocurrency, and his own businesses. He prioritizes investments that generate high returns, such as short-term rental properties, and avoids relying on any single revenue stream for more than 10% of his income.
What advice does Ted Dhanik give about staying calm in chaotic times?
He emphasizes focusing on what you can control and avoiding creating unnecessary tension or conflict over issues you have no influence over. Instead, he suggests channeling energy into positive actions that can make a real impact.
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