Snapshot · My First Million
Robert Kiyosaki publicly urged investors to exit US single-family homes in 2018, right before one of the best buying opportunities in recent history — illustrating why specific market forecasts are dangerously unreliable.
Where this was said
At 31:07 · chapter starts 21:43
Sam Parr asks the natural follow-up question: if 90% of financial content is garbage, what's the 10%? Ritholtz first frames the problem with Ted Sturgeon's Law — the observation by the science fiction writer that 90% of everything, in any field, is crap. [1] — Barry Ritholtz "Ted Sturgeon's Law — 90% of everything is crap — applies in full to financial media. Before consuming any analyst, podcast, or newsletter, …" 28:10 He applies this ruthlessly to finance: most TV, social media, Substack, and research is not worth consuming. The bigger issue is that most people don't do the research lift required to vet a source — checking track record, process, how they performed in multiple cycles, whether they maintained temperament or ran around screaming on down days. Then he gives his actual list. Ed Yardeni for broad macro analysis — data-driven, constructive, 40-year track record. Sam Ro for market structure. Morgan Housel for behavioral finance storytelling. Jonathan Miller for real estate. Jim Chanos for short selling. Michael Lewis for Wall Street culture — including a forthcoming DOGE book. Richard Thaler at Chicago for hardcore behavioral research. The caveat that matters most: the value isn't in the list, it's in the process of building your own.
David Rubenstein built Carlyle Group into a $500 billion firm by spotting undervalued sectors the market ignored — starting with unsexy post-Reagan telecom deregulation. He then personally funded repairs to the Washington Monument and bought the Baltimore Orioles with a promise never to move the team.
Ted Sturgeon's Law — 90% of everything is crap — applies in full to financial media. Before consuming any analyst, podcast, or newsletter, demand a track record, a repeatable process, and evidence they've survived multiple market cycles.
Citing 'Sturgeon's Law' from sci-fi writer Ted Sturgeon, Barry Ritholtz argues that 90% of financial media, Substacks, and research is not worth consuming — the challenge is identifying the credible 10%.
Ed Yardeni for macro, Sam Ro for market structure, Morgan Housel for behavioral finance storytelling, Jonathan Miller for real estate, Jim Chanos for short selling, Michael Lewis for Wall Street culture, and Richard Thaler for hardcore behavioral research. The list is secondary — the process of building your own is what matters.
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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