Charlie Munger Changed My Life [8 Lessons]
Want to SCALE your business? Go here: acquisition.com
Want to START a business? Go here: skool.com/games
If you’re new to my channel, my name is Alex Hormozi. I’m the founder and managing partner of Acquisition.com. It’s a family office, which is just a formal way of saying we invest our own money into companies. Our 10 portfolio companies bring in over $200,000,000+ per year. Our ownership stake varies between 20% and 100% of them. Given this is a YT channel, and anyone can claim anything, I’ll give you some stuff you can google to verify below.
How I got here…
21: Graduated Vanderbilt in 3 years Magna Cum Laude, and took a fancy consulting job.
23 yrs old: Left my fancy consulting job to start a business (a gym).
24 yrs old: Opened 5 gym locations.
26 yrs old: Closed down 6th gym. Lost everything.
26 yrs old: Got back to launching gyms (launched 33). Then, lost everything for a 2nd time.
26 yrs old: In desperation, started licensing model as a hail mary. It worked.
27 yrs old: "Gym Launch" does $3M profit the next 6 months. Then $17M profit next 12 months.
28 yrs old: Started Prestige Labs. $20M the first year.
29 yrs old: Launched ALAN, a software company for agencies to work leads for customers. Scaled to $1.7mmo within 6 months.
31 yrs old: Sold 75% of UseAlan to a strategic buyer in an all stock deal.
31 yrs old: Sold 66% of Gym Launch & Prestige Labs at $46.2M valuation in all-cash deal to American Pacific Group. (you can google it)
31 yrs old: Started our family office Acquisition.com. We invest and scale companies using the $42M in distributions we had taken + the cash from the $46.2M exit.
32 yrs old: Started making free content showing how we grow companies to make real business education accessible to everyone (and) to attract business owners to invest or scale their businesses.
34 yrs old: I became co-owner of Skool.com to help the many people who want to start a business online do so.
Today: Our portfolio now does $200M/yr between 10 companies. The largest doing $100M/yr the smallest doing $5M per year. Our ownership varies between 20% and 100% ownership of the companies. Many of them we invested in early and helped grow (which is how we make our money - not youtube videos).
To all the gladiators in the arena, we’re all in the middle of writing our own stories. The worse the monsters, the more epic the story.
You either get an epic outcome or an epic story. Both mean you win.
Keep crushing. May your desires be greater than your obstacles.
Never quit,
Alex
FULL DISCLOSURE
I make content to make money - just - on a longer time horizon than most. I want to build trust with business owners so we can find the best ones and help them scale. And if they’re awesome, write them a check and go all the way as partners.
Пікірлер: 414
00:41 🔄 Inverted thinking: Charlie Munger's approach involved solving complex problems by first considering how to destroy or negate them, leading to innovative solutions. 03:02 🛡 Simplicity over complexity: Munger's preference for simplicity in decision-making, striving for businesses easy enough that even an "idiot" could manage them. 05:08 💰 Perfect business components: Uniqueness, expensiveness (high-margin), and stickiness (recurring sales) were key factors Munger looked for in businesses. 07:18 🏢 Hiring like an owner: Finding individuals who act and think like owners, making decisions that prioritize the company's long-term success. 08:57 🍎 Emphasizing brand: Munger's recognition of the importance of brand strength in companies like Apple led to successful investments. 10:31 💸 Living within means: Munger stressed the foundational principle of spending less than earning for financial stability. 11:41 🔄 Mastering fundamentals: Focus on continually simplifying and executing the fundamentals in business rather than pursuing complex strategies. 12:26 📚 Learning from others' mistakes: Munger advocated learning from the mistakes of others to avoid unnecessary pitfalls and setbacks. 13:35 🛑 Knowing when "enough" is enough: Munger's emphasis on achieving independence and contentment over relentless pursuit of wealth serves as a valuable life lesson.
@danielemarino1428
6 ай бұрын
A
@pickygarage
6 ай бұрын
thank you for this
@HyperShift
6 ай бұрын
i@@danielemarino1428
@katielowen
5 ай бұрын
Big if true
@afterthisourexile6542
5 ай бұрын
THANK YOU!!!
Studying Charlie Munger truly changed my life. More people need to start studying the lessons he taught
@alainmarleybwigenge2918
6 ай бұрын
you changed mine
What a wholesome down to earth dude. Rest in peace. I saw the look on Alex's face when he was talking about independence. Then I noticed a lot of similarities between me and my best friend and Warren and Charlie's friendship. It hit a soft spot. I cried a couple of tears of wholesome joy. Shoutout to Charlie
Biceps are having their own show in this one 💪
@fmfame
6 ай бұрын
😂 yes totally getting distracted by those guns. They are visibly bigger in last few videos.
@rockyblumble
6 ай бұрын
Let's not even get started with those gigantic delts
@VegasLyfe
6 ай бұрын
Hahaha
@Coolman1985
2 ай бұрын
Got big biceps and small forearms, maybe should put that shirt back on
It was just now that I was creating a list of books Charlie had recommended that this video was uploaded, as well as hearing of his passing. One of the greatest self-taught investor, philosopher, and human to walk this earth.
@kazn53
6 ай бұрын
Care to share your list?
@YoussefDoesBusiness
6 ай бұрын
Share
@Eggs-n-Jakey
6 ай бұрын
Link the list please bruddha!
@KrisRoxas
6 ай бұрын
Would love to see this list, brother 🙏
@domenicopirulli4706
6 ай бұрын
Share it man!
Bro (Alex) looks like a World of Warcraft male Warrior holy moly man.
Instant classic. I'll be revisiting this one many times. Thanks, Alex.
Charlie was truly a fantastic man, all the lessons he gave the world, tremendous appreciation, as well thank you Alex for making this video about such a legend.
list of books that Charlie reccomended "Faraday, Maxwell, and the Electromagnetic Field: How Two Men Revolutionized Physics" "Deep Simplicity: Bringing Order to Chaos and Complexity" "Fiasco: The Inside Story of a Wall Street Trader" "Influence" "The Outsiders" "Only the Paranoid Survive" "Man's Search for Meaning" "Guns, Germs, and Steel" "The Selfish Gene" "Seeking Wisdom" "The Autobiography of Benjamin Franklin"
I've watched this 3 times. I admire Charlie so much and his philosophy. this was an amazing tribute to him. Thanks for another great one Alex.
Just so you know Alex, the impact you have had on my life is profound, as I assume is the case for so many others. I am eternally grateful! Thank you for truly benefiting all!
Alex, thanks for sharing your learnings from Charlie. So helpful. 00:50 Inverted thinking can lead to innovative solutions. 03:35 Simplicity is key in decision-making and business operations. 05:07 Focus on unique, expensive, and sticky businesses. 07:32 Know when to say 'enough' and avoid unnecessary complexity. 08:32 Brand plays a crucial role in business success. 10:29 Live within your means and prioritize financial fundamentals. 12:13 Learning from the mistakes of others. 13:30 The value of independence over money.
@seanpmcg99
6 ай бұрын
I STUDIED U I STOLE FROM U.
@seanpmcg99
6 ай бұрын
inverted thinking, reverse engineer.
@Troffea
6 ай бұрын
Thank you Eric! :)
Hi alex, the way you communicate seemingly complex concepts in a way where everyone can understand them is fascinating to me, and I've adopted that "breaking down" process myself into my own life, and I've improved it massively. I've eliminated all insecurity within myself by changing them from something I fear to something I seek out so that I am less in my own way of living a life I'd be proud of. I wish more people would adapt such an approach to teaching, as it is undeniable that there are so, so many conflicts over simple miscommunication and overly emotional egotistical men. If more leaders had your philosophy on life, especially about the accepting that once you die everything turns to dust, there would be no wars, there would be a productive world where people would simply learn, play, create and fuck. I truly think more people need to hear you, from a non-business side of things, and I truly believe that you could make the world a better, leading by example.
Charlie Munger was one of a kind. Thank for sharing these lessons, Alex.
This is a beautiful tribute, Alex. I agree with your heartfelt sentiments about Charlie. His legacy will be honored by people like yourself, me and other by implementing what he so freely shared. ❤
This video will save more lives than I think. Thanks a lot for making it, Alex. Such a beautiful tribute to Sir Charles T. Munger. May his soul rest in eternal peace.
Forever one of the greatest of all time. Philanthropist, Investor, Teacher Rest in Peace : Charles Munger -Thank You Alex 4 the Video ❤
Alex, this was a fantastic video. Great tribute, and you really nailed all the key takeaways for people who haven’t watched tons of Charlie’s clips!
Best video Alex. Thank you for the tribute. True class!
Beautiful tribute, thanks Alex! 🙏🏽🥰
What a fab video. Created about a legend by a legend. Well done Alex Hormozi on a lovely tribute. RIP Charlie Munger
Amazing. Especially the end
Rest in Peace Charlie!! It's sad to have lost one of the best modern life coaches. He will be missed.
One mistake I would like to point out, it wasn’t Einstein who said invert always invert. It was actually the german mathematician which Charlie mentions in his book - Carl Gustav Jacob Jacobi
I love your energy! No wonder why you stay at the top for so long time. You inspire me a lot for my own channel. Thank you Alex!!
This is the best and simplest dissection of Charlies and Warrens way of thinking. One of your best videos so far.
You know you are the best Alex, thanks for sharing, I will share, stay blessed, keep up the amazing work and let's go! 💪💪💪💪💪💪💪
Great video, bro! Charlie is a huge reference of wiseness in my personal life and you condensed some of his lessons in very practical way with examples. Thanks for putting this video together and greetings from Brazil!
A lot of Munger videos came out during his passing. This video is one of the best distillations of his thinking. This is the only video so far that I'm bookmarking. Thank you Alex!
Excellent tribute of gratitude.
Great lessons!! Thank you for making and sharing this video!
Thank you Alex. I saw your content recently about "inversion thinking," and that started down the Charlie Munger Road. Just got "Poor Charlie's Almanac." And it's outstanding. I can't wait to watch this video over and over. Thanks for all the great content.
He was also a huge influence in my life, Alex, and I see you carrying the torch in so many ways. Thanks for the video
Hormozzi is a deep dude. Respect ✊🏼
I loved this vídeo, love simplicity, thank you so much for everything that you are sharing. God bless you in returns 🙏✨
Thank you Alex. Charlie not turning 100, but almost and have lived 99 years the way he did really drove home the points you're making - R.I.P. Charlie Munger (1924-2023)
A beautiful tribute and a great reminder, thank you Alex.
RIP. Nice memory and advices Alex, thank you.
Very touching and inspiring video. Thanks Alex!
Great video and well produced. Thanks Alex.
Excellent tribute! 💯
I was waiting for you to address this. We're so lucky he shared his knowledge
Incredible tribute. I love the respect and admiration Alex shows for the greats.
Love your tone for this video, beautiful.
An amazing tribute to Charlie Munger, Alex. Thanks for sharing.
Thanks for sharing Alex. Powerful stuff.
Thank you for paying it forward.
This was lovely. Thank you for sharing.
Thank you for sharing, Alex!
Thanks for answering my question Alex! As always, your content is top tier💣 Hope you have great rest your week!!
Alex ate Charlie Munger to grow those biceps. That's how he died. Watch out Warren, he's comming for you too.
@rockyblumble
6 ай бұрын
Protein is protein
@ristoz.nikolovski3350
2 ай бұрын
Lol
@banerjeehome5913
Ай бұрын
😂 tf
Thanks Alex! I appreciate this today as a business owner this is gold
Incredible. The “keep it simple” resonated with me the most.
Some of your best work Alex - genuine acknowledgement of the standing on great shoulders
I am convinced that Alex has learned the art of just talking without saying any
Really great piece Alex. Clearly comes from the heart. And you even made this tribute to him educational. I think he mightve teared up had he seen this. Felt unique. Thanks.
best video y'all have ever posted. Great Job Alex and the team!!
One of the best guys on KZread. Thank you for all the videos sir.
Thank you for Charlies lessons. Love the new video style
Mozination!🤙🏽🙌🏽great video! Thanks Alex, R.I.P Charlie!!😢
Amazing video, one of my favorites from your channel!
Alex thank you for this video it really opened my eyes to Charlie.. way more than they were before. Great video as always thank you
Awesome content. I enjoyed every piece of it. Thanks Hormozi
This was a great one thanks again bro
Such a good video! Thank you!!! I usually don’t write comments but as a business owner this was very helpful.
Rest in peace. One of the greats for sure, and the last one is definitely the one that hits the most for me. Living a life well lived, for 100 years, now that's the dream life.
This was really nice, Alex. Great job.
I really like this video, the minimal mood… the value is everything
Congratulations for your video.I just didn't expect to listen all these messages in only 15 minutes.Thank you.
Great video, thanks Alex. I never tought about the inverting method that deeply
That was beautiful Alex. You are my uncle Alex. Thank you so much for sharing your journey and being such a great role model for my life.
What a wonderful video, thank you SO much.
Thanks for educating me on the importance and lessons of Charlie munger. I heard you talk about him a lot but never really knew anything about him. Now I do. Wow.
Beautiful video, thank you. The last note, I needed the most. To remember that, I'm working so hard to be independent.
Love this, thanks for sharing!
The amount of wisdom concentrated in this video. My goodness gracious
I didn't know who Charlie Munger was before following Alex for almost 2 years now. Thank you for sharing this. Rest in Peace Charlie Munger.
Amaizing Video Alex, thank you.
Alex wish you the best ✌Love your content Love from Iran❤
Thanks for sharing your insights on the great Charlie Munger!!
Very well said bro. I'm a Warren and Charlie fan too. I love your key takeaways and just how you present it. Keep it up!😊
I appreciate you so much ❤ thanks a lot for sharing
the calm pace is waaay more beautiful and focus optimized than the action-thrilling way.
Incredible insights! Charlie Munger's wisdom is timeless. Such powerful lessons for personal and business growth, thanks for sharing them, with us,Alex!
Great piece of content and great summary of some of Charlie's stuff. Thank you.
Thank you for the video man!
this video is so beautiful, meaningful, and grateful. as an international student, I had hard time understanding Munger accent, but after watching this I learnt so much. Thanks Alex, and RIP Mr Munger
Happy 100 Charlie
Great video. Really touching intro.
Love this form of video. This is you at your best Alex
Loving the wisdom you bring
Alex’s pipes are just next level
@LittleTimmyO
6 ай бұрын
Yea he must have just worked out. But even if not, his arms are Yuge
Thanks for sharing
Love this one
Excellent advice!!! Thank you!!! ❤
Brilliant eulogy. I'm a huge fan of Charlie Munger too, and now I'm a huge fan of you. The torch has been passed.
What an inspiring video, thank you Alex for these lessons, what a legend
Great homage to the great Charlie Munger! Thank you!
I love these videos!
love this video dude. Well explained.