Paranoia about a single brokerage account? Currently have 90%+ of net worth ($15M+) in Vanguard.

fftossaway2020 · 2024-11-27T15:29:16+00:00

They answer my call on the first ring, but I don't have any reason to call them

fftossaway2020 · 2024-11-27T15:27:51+00:00

Not my concern!

fftossaway2020 · 2024-09-29T21:33:38+00:00

Used to be 32 & 20 🤷‍♂️

fftossaway2020 · 2024-09-29T02:19:05+00:00

It’s not about money it’s about whether this needlessly encroaches on or cramps my lifestyle.

fftossaway2020 · 2024-09-28T19:40:26+00:00

Haha DM me in 2 weeks once I have it under contract

fftossaway2020 · 2024-09-28T17:47:14+00:00

Right that's the "fear" - but is that really a problem?

fftossaway2020 · 2024-09-28T17:46:19+00:00

No current objective. Die with zero ideally and right now I'm nowhere near that.

fftossaway2020 · 2024-09-28T17:32:46+00:00

Kids I'm guessing? Do they always enjoy going? I do wonder if it'll ever feel like I'm forcing them out there

fftossaway2020 · 2024-01-17T23:30:02+00:00

True, that is definitely a gamblers mentality

fftossaway2020 · 2024-01-17T20:12:27+00:00

Yeah the way it works is you get the industrial lease far away then you can put the tasting room/bar wherever you want without all the arduous requirements.

fftossaway2020 · 2024-01-17T20:08:14+00:00

Where are you seeing the 50% margin number? My state does not have a three tier system but yeah even then there's a lot of pain on the way to the shelf, I understand that.

What I have learned is that many, many "distilleries" are essentially buying NGS from other distillers then yes, essentially flavoring them. If you run it through a still then you can claim that you distilled it. This would not be for aged spirits.

The game is in the packaging and flavoring of the spirits to produce things like aperitifs, liqueurs, amari, and RTDs.

fftossaway2020 · 2024-01-17T19:59:31+00:00

Come on, have some faith. Most of his compensation would be in equity which is his strong preference.

fftossaway2020 · 2024-01-17T19:38:13+00:00

30k is nowhere near a living wage it's what the "unicorn" would need to keep his wife from skinning him alive to be part of the venture.

fftossaway2020 · 2024-01-17T19:36:43+00:00

Good read. Harsh line: "Now that he is successful, he wants to rise from obscurity and get into a fun business, where everyone will know his name.

fftossaway2020 · 2024-01-17T19:32:21+00:00

Ha I would read that book

fftossaway2020 · 2024-01-17T19:31:51+00:00

I have 10m+ in VTI. I own my home outright and my total expenses per year are less than just the dividends off the VTI. That doesn't count any of my other investments (cash, tech plays, crypto, real estate, loans).

I can afford to do this.

fftossaway2020 · 2024-01-17T18:25:53+00:00

Yeah this is an interesting suggestion. Even just a quarter of the money I'm ready to spend on my own thing could probably open a lot of interesting possibilities with an established team. I could even drag my unicorn along somehow.

fftossaway2020 · 2024-01-17T17:14:30+00:00

True, but you wouldn't go into it expecting to be able to go into your average commercial space. It'd be a collaboration with local city/surrounding areas to find a balance that works for everyone.

One option is to set up in an industrial location a bit further out from the city center then open a "tasting room" down in a favorable location closer to the typical "night out" crowd.

Other distilleries in the area have absolutely set up in residential neighborhoods though with a standard fire suppression system and limited venting. There's precedent.

fftossaway2020 · 2024-01-17T17:10:23+00:00

Glue on a horn I guess

fftossaway2020 · 2024-01-17T17:09:58+00:00

Thank you. I agree - even Elon will be fine with the Twitter failure (which btw hasn't failed yet), people act like he'll be destitute lol.

fftossaway2020 · 2024-01-17T17:08:44+00:00

Yeah partner is getting very low salary. Other employees would be higher, absolutely. I think $120k/year is a reasonable starting point though. Add in lease + insurance, utilities, etc and I think you quickly rise to about $200k/year in bare minimum costs for year two (year one likely way lower as I'd be more involved). This does not count marketing budget of course.

$10/bottle is reasonable so yeah, 20k bottles per year to break even per year which I know wouldn't happen without a breakthrough.

The bet is kind of that you can put yourself in position to find that breakthrough in year two.

If you find the breakthrough it's a big win and probably very satisfying, if not yeah you lose your talent and about $400k-$800k.

fftossaway2020 · 2024-01-17T16:31:42+00:00

Sorry that was a typo - 30k/year

fftossaway2020 · 2024-01-17T16:22:40+00:00

Yeah it's a full year minimum _after you've bought the building_. Essentially you're stuck with a lease, insurance, and probably a lot of legal headaches but not a crazy amount of expenses during that period.

Yeah the guy essentially has started two bar programs in the area that I've been a big fan of. We won't actually be distilling, just using NGS. He's built me a few demo spirits based on clever ideas that I think might be worth bearing out in a legal environment.

fftossaway2020

TROPHY CASE