Snapshot · My First Million
At the time of the recording, Berkshire Hathaway was sitting on approximately $380 billion in cash, earning decent returns on treasuries while waiting for market dislocations.
Where this was said
At 49:25 · chapter starts 47:22
Buffett used the charity lunch to deliver a lesson Pabrai has carried for nearly two decades: there are two ways to live [1] — Mohnish Pabrai "Two ways to live: outer scorecard (measured by others' opinions) or inner scorecard (measured by your own standards). Buffett's test: would…" 47:50 . The outer scorecard measures you by what other people think; it's the scorecard most people live by, driven by social comparison, status anxiety, and the fear of criticism. The inner scorecard measures you against your own standards — do you know what you're actually capable of, and are you living up to it? Buffett's unforgettable test: would you rather be the greatest lover in the world but known as the worst, or the worst lover in the world but known as the greatest? Pabrai extends this into resilience: if people can criticise Gandhi, they can certainly criticise you. The appropriate response is not defensiveness but a stable internal compass. Anytime you have any public presence, criticism arrives. The inner scorecard is the only protection against being destabilised by it.
Two ways to live: outer scorecard (measured by others' opinions) or inner scorecard (measured by your own standards). Buffett's test: would you rather be the world's greatest lover known as the worst, or the worst known as the greatest? If you know your answer, you've got it made.
Buffett ran Berkshire with extreme patience and extreme decisiveness simultaneously. The Saturday calls — companies in crisis needing a deal before Tokyo opens — were always the best. Greg Abel will get those calls. The game continues.
Sam built Algrow from zero to $14,000 in monthly revenue within just six months of shipping his first MVP.
Algrow reached over 10,000 users in roughly six months, driven almost entirely by organic Discord community growth.
Sam acquired his first 400 users entirely through Discord communities, without paid advertising or traditional outreach.
Algrow added exactly 480 new paying customers in its most recent month, demonstrating strong ongoing growth.
Sam's Stripe dashboard showed over £10,000 in revenue in the last four weeks, equivalent to roughly $13,000–$14,000 USD.
Sam gave all early users free access so they could show the tool to friends, turning them into live demos and advocates who helped the product spread virally.
By silently screen-sharing his tool in Discord voice chats rather than posting links, Sam attracted curiosity without violating no-self-promo server rules.
Before building Algrow, Sam and two friends made over $10,000 in revenue through affiliate marketing for RizzApp by posting faceless texting story content.
Bhanu grew SiteGPT to $13,000 monthly recurring revenue entirely through organic channels, spending nothing on paid marketing.
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