David Royce

What is private equity buying?

You know, what industry has the margins where they're actually increasing or

multiples where they're increasing.

And so there's so many ways to learn about business.

I'm still long on college.

I think it just needs to kind of be redone.

I think they need to tweak it a bit.

But yeah, so the first thing I would say is if you want to learn an industry,

study it first, find an industry you think you might want to go into.

Two, go get experience in it because the experience will make you that much more successful when you go to start your own business.

If you think about franchises, franchise models have an 80% success rate.

Whereas if you start a brand new business on your own, you have a 20% success rate.

It's actually flipped.

You're that much worse off.

Within five years, you're out of business, or at least 80% are.

In 10 years, most businesses, I think it's like 95% are out of business.

So those are some pretty tough odds.

So it's like, go get experience.

It's like, you wouldn't want to go compete in basketball against LeBron James, right?

It's like, you may love basketball.