Chris Koerner

They'd worked together before.

The contract went in 50-50, although it was never really equal.

And then their rate of growth changed wildly where one person...

really just like became a superstar.

And they look back at the contract and it was 50-50.

And I remember being privy to the conversation where that person turned around to their business partner and was like, this is not fair.

This company without me goes to zero.

Without you, it keeps growing.

And there was an adjustment made to the equity at that point, which is hard to do because of tax reasons and stuff.

The one thing I will say about a 50-50 and going in with someone that you've known for a long time or going in with your best friend,

that can be really freaking fun.

Like it can just be the most enjoyable life ever.

So it's just very high risk and very high reward.

And if you can make it work, like oftentimes the biggest and the best and the most well-ran companies you see were 50-50 partners that knew each other for a long time for that reason.

But the rate of failure is higher than average.

So in these three suitcases in front of me, I have different amounts of money.

And all I want you to do is to let me know if I was giving you this amount of money, what business you would start.

Okay, so the first one has $500 here.

Awesome.

So most people would look at this and think, what am I going to do with $500?