Leila Hormozi

So it's like the experience built the competence which then led to the competence for me.

I'm educated enough now to know that you have to lose money to make money. So like You know, it's so funny, because me and Alex were talking yesterday about something, and he's counting up every loss we've had this year.

I'm educated enough now to know that you have to lose money to make money. So like You know, it's so funny, because me and Alex were talking yesterday about something, and he's counting up every loss we've had this year.

Yeah, I'm so much like, when it comes to money, I'm like, I'm just like, that's the cost of it. The cost of making money is that you're going to lose some. So it's like, for me, it's like, if I want to make $100 million, I'm going to lose $10 million. If I want to make $1 billion, I'm probably going to lose $50, $100 million. I don't know. Now, that could be in lost opportunity.

Yeah, I'm so much like, when it comes to money, I'm like, I'm just like, that's the cost of it. The cost of making money is that you're going to lose some. So it's like, for me, it's like, if I want to make $100 million, I'm going to lose $10 million. If I want to make $1 billion, I'm probably going to lose $50, $100 million. I don't know. Now, that could be in lost opportunity.

That could have been in making the wrong decision. That could be in the value of a company. But I've just seen that there's a huge correlation with how much you're willing to lose with how much you're willing to gain. Because if you're constantly saying, I don't want to lose, that's where your mind's focused. Rather than, I want to make more. I want to expand.

That could have been in making the wrong decision. That could be in the value of a company. But I've just seen that there's a huge correlation with how much you're willing to lose with how much you're willing to gain. Because if you're constantly saying, I don't want to lose, that's where your mind's focused. Rather than, I want to make more. I want to expand.

So it's like, yes, I want to make sure that I'm not being stupid with my money. But I don't want to be so focused on not losing money that I'm not opening myself up to the opportunity to make more. And so I actually think if I lose money now, like I'll give you an example. Invested in a company two years ago, Bad, bad investment.

So it's like, yes, I want to make sure that I'm not being stupid with my money. But I don't want to be so focused on not losing money that I'm not opening myself up to the opportunity to make more. And so I actually think if I lose money now, like I'll give you an example. Invested in a company two years ago, Bad, bad investment.

So that was like, you know, close to $10 million just down the drain. Gone. Yeah. Light on fire. Yeah. And I'm just like, this company is not what I thought it was. I wish I did not buy it. It is a thorn in my side.

So that was like, you know, close to $10 million just down the drain. Gone. Yeah. Light on fire. Yeah. And I'm just like, this company is not what I thought it was. I wish I did not buy it. It is a thorn in my side.

Yeah. And there's not much you can do once you've bought majority of a company. So it's a tough situation. And every time I'm reminded, I'm like, I don't want to think about it. Right. But I'm like, that's... I had to pay the price of... losing there to get this huge win over here.

Yeah. And there's not much you can do once you've bought majority of a company. So it's a tough situation. And every time I'm reminded, I'm like, I don't want to think about it. Right. But I'm like, that's... I had to pay the price of... losing there to get this huge win over here.

And I just look at it like that because the same decision-making principles I used to purchase that company, I also used to purchase this one. And this one is crushing it. And so it's like sometimes I think in making money, the decision-making formula that we use to make money is good, but sometimes the outcome is still not. It's just like hiring people.

And I just look at it like that because the same decision-making principles I used to purchase that company, I also used to purchase this one. And this one is crushing it. And so it's like sometimes I think in making money, the decision-making formula that we use to make money is good, but sometimes the outcome is still not. It's just like hiring people.

Exactly.

Exactly.

Yeah. I mean, when I'm talking to people and I'm like, yes, they're like, how do I do this in a company? I'm like, well, this, that. And they're like, do I need to understand finance like that? I'm like, yeah, I understand finance, IT, marketing, sales, CS, this, like all of it. Same goes for investing. And there's more.

Yeah. I mean, when I'm talking to people and I'm like, yes, they're like, how do I do this in a company? I'm like, well, this, that. And they're like, do I need to understand finance like that? I'm like, yeah, I understand finance, IT, marketing, sales, CS, this, like all of it. Same goes for investing. And there's more.

And so there's so many things that could go wrong that, you know, it just, it would behoove me to say, I made one bad investment. I shouldn't try again, you know? And so I, I think one thing that I've always been very good at is like, I'm very patient. I can lose everything. But I'm pretty spot on at like, where did I fail in execution? I can tell if it's an execution or a strategy issue.