This week on Disrupters, we are joined by Anthony Scaramucci, the founder and managing partner of Sky Bridge, a global alternative investment fund, and the founder and chairman of Salt, a global thought leadership forum and venture studio.
[7:02] The path that led to founding two major companies and becoming an industry disrupter.
[25:45] Advice for action in this volatile market.
[30:55] A cautionary tale from the White House.
Anthony grew up on Long Island surrounded by family, food, and the desire to hustle. His hard work led him to Harvard Law School, where he quickly realized that he didn’t want to be a lawyer. Fast forward to today and he has founded two successful businesses.
Anthony doesn’t attribute his success to luck alone- disrupters are entrepreneurs who are willing to create their own luck by showing up over and over again. Entrepreneurs cannot afford to be self conscious or to listen to the negative trolling that they experienced in their life for trying things. Disrupters are willing to keep going when everyone around you is telling you to quit, and Anthony’s success proves that you have to be present to be lucky.
While Anthony may downplay his success, he was not just throwing spaghetti at the wall and hoping something would stick. He was also taking a hard look at his network, his business, his capability and his resilience. He needed to provide and he was willing to hedge his bets on the value that he had to offer the world, and those big moves are what created the success that he has experienced as a disrupter.
If you’re on the fence about whether or not this is your time to make an impact as an entrepreneur, Anthony has some advice for the next generation of disrupters. His advice is to not take advice from other people, which may sound counterintuitive until you realize that people generally offer advice based on their successes and failures and life goals, which may not be in line with yours at all. But one fact rings true no matter what your goals are- reaching them is going to be hard. If most entrepreneurs knew what it would take to reach a real measure of success, they wouldn’t even try. And that is what separates the ‘lucky’ successful ones from those who never make it.
He also shares sage wisdom regarding how to respond to this volatile market. The world is changing very rapidly, and the markets sometimes won’t catch up to it. Inflation is a result of the induction of heavy money into the money supply, combined with a disrupted supply chain with an added feature of an Eastern European war with one of the world’s largest and energy suppliers struggling. Those three things have tipped off exogenous inflation, but Anthony argues that it is not systemic. He has confidence that these numbers will come down before the end of the year, and that we are facing a specter of a recession. But he advises listeners to remember that all states in the universe are impermanent. We’re always changing and yes, we’re in a downward cycle, right now, but we will go back into an upward cycle. Stay patient, buy quality. Keep your eye on the long term, and don’t be focused on the short term.
With that advice and a cautionary tale from his time in the White House, Anthony closes with a warning to keep your ego in check in whatever endeavors you pursue. To learn more about some of the opportunities available in the alternative investment space, visit www.yieldstreet.com today.
Published:
07/29/2022
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