John T Pugh
3K posts
John T Pugh
@JohnTPugh
Real Estate Developer - Private Equity + Debt; ex-Pro Basketball 🏀 & MIT Alumni
Planet Earth Katılım Temmuz 2009
1.1K Takip Edilen747 Takipçiler
This is 💯
The outcome is that employees will want more direct comp and you will see it in EBITDA and FCF.
Bill Gurley@bgurley
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In business and life at some point it becomes clear, the people who look down on you, are condescending ,or pessimistic about your ideas have their own set of problems.
Push forward past the noise.
Those pundits who talk trash from the sidelines will never know what it feels like to be the man in the arena.
Beff (e/acc)@beffjezos
Pessimism sounds smart. Optimism makes money.
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In business and life at some point it becomes clear, the people who look down on you, are condescending ,or pessimistic about your ideas have their own set of problems.
Push forward and forge on. You will never regret it.
Those pundits who talk trash from the sidelines will never know what it feels like to be the man in the arena.
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Pessimism sounds smart.
Optimism makes money.
Christian Keil@pronounced_kyle
This is accurate. And unironically why America wins every new technological era.
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@alan_stalcup Interesting. The owner of the first development firm I worked for had a film production company. Not a bad angle.
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I’ve been dabbling in the film world lately.
I think the intrigue sparked from the constant presence of creatives in my life.
My wife is a painter. My daughter is studying art in college.
I spent the first chunk of my career surrounded by engineers.
I’ve always enjoyed films but I noticed a gap.
Most filmmakers are artists first and businesspeople second. Financing this type of art is complicated and traditional banks largely stay out of it.
There's a real opening for people who have a knack for both sides.
As an investor, there are definitely perks.
- Tax credits from states
- Pre-sold distribution rights
- Guaranteed minimum payouts
The risk-adjusted returns are better than most realize.
And sometimes it’s okay to invest in projects you like, and not need to maximize return.
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One of the best things we’ve done for our kids is force them out of their physical comfort zones.
Lots of whining and crying to get here.
The effort will pay off with more than physical achievement.
(Will rode 15 miles on this ride. He’s got cerebral palsy, an AFO brace, and zero excuses.)
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@bornintheflames @TuckerCarlson I’ve had close family members who are also emergency docs who have had experiences that made them believe as well. Things that could not be explained by science alone. Appreciate your post.
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@TuckerCarlson I'm an average practising hospital doc. I never believed in demons until one time in the ER I overheard animal-like sounds and screams emanating from a patient, speaking in what sounded like some kind of foreign language...super-human strength...was like a scene from The Exorcist
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Father Chad Ripperger has spent his life as an exorcist. It’s clear to him that demons are in charge of parts of American politics.
0:00 The Connection Between Mental Health and Demon Possessions
7:01 What Are Demons?
26:45 What Is the Mission of Demons?
29:40 Is the United States Under Demonic Attack?
35:16 Child Sacrifice and Pacts With Demons
46:03 The Dangers of Being an Exorcist
48:38 Why Demons Target People in Leadership Positions
51:52 The Similarities Between Communism and Demonism
58:45 Can Demons Possess Animals?
1:05:08 How Does Someone Become Possessed?
1:14:19 The Dangers of Mocking Demons
1:17:42 Occult Knowledge
1:20:36 Why Some Demons Can Only Be Cast Out With Prayer and Fasting
1:27:15 Satanic Ritual Abuse
1:29:47 Are There People Who Choose to Stay Possessed?
1:33:37 How God Uses Demons for Good
1:35:57 How to Avoid Being Possessed
1:40:43 Is the US Doomed?
1:44:27 What Role Do Demons Play in Addiction?
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@izakaminska Beautiful handwriting. Looking forward to the before and after pic of the babka!
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Today I will be trying to recreate this recipe from a family cook book that dates back to 1865 for a “very good babka”. Wish me luck.
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@ScottChoppin Love this. Hadn’t heard of this solution before. Thanks for sharing Scott!
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937 Pine Ave, Long Beach. The project was stuck. Distressed debt, no path forward. Our Development Services team designed a workout with the lender: convert the distressed debt to GP equity.
Why?
Because it cleared the entire capital stack for new Opportunity Zone equity. Before the workout, any new money would have had to solve the distress first.
After it, new capital comes in clean.
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@alan_stalcup So true. It’s not easy building with those first investors and it comes slowly then all at once.
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My first raise at GVA was a $1.5M deal.
It was the hardest raise I've ever done.
I ended up putting in $800K of my own capital just to make it work.
That left $700K to raise from outside investors.
It sounds small compared to where we eventually got.
But that deal taught me more about capital formation than the billion and a half that followed.
Investors write checks but at the same time, they're extending trust.
Trust at the start of a relationship is earned through
- discipline
- transparency
- your own money on the line
I was often the largest investor in our deals. That was intentional.
When you lose your own capital, it changes how you underwrite everything else.
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@DeepPsycho_HQ So true. I didn’t know what I wanted to be at 24. Use your 20’s to gain perspective by trying on different jobs and even industries. Figure out where you want to be for your career. Don’t just default to whatever someone told you was valuable when you were 20.
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A HARVARD psychologist says: “if you’ve achieved nothing by 25, you’ve avoided the most destructive illusion of youth”
> In 2021, a Harvard psychologist surprised a lecture hall with an unexpected statement:
“If you haven’t accomplished much by 25, you may have escaped one of youth’s biggest illusions.”
At first, the room laughed.
She wasn’t kidding.
> The illusion of early success.
In your early 20s, the brain seeks quick proof of worth ~status, attention, rapid achievements.
But psychologists warn that chasing recognition too soon can lock people into roles or paths they never consciously chose.
They decide too early… and spend years trying to undo it.
> The exploration phase.
Research on career development suggests that people who explore more before 30 often build stronger long-term directions.
Testing ideas.
Making mistakes in public.
Changing course.
At 25 it looks like confusion ….but by 35 it often turns into clarity.
People who feel “behind” in their mid-20s frequently gain something others miss:
Perspective.
Patience.
And a clearer sense of what truly matters to them.
That foundation often leads to better decisions later on.
At the end of the lecture, the psychologist left the students with one final thought:
“You’re not meant to have life fully figured out at 25.”
“You’re meant to discover who you’re not.”
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@rossiadam It’s gorgeous. I think the quote is also about his appreciation for being at home with those he loved as opposed to being out wandering the world with those of “importance”. Great biography by Ron Chernow. Life is short spend time with those that matter most.
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“I can truly say I had rather be at Mount Vernon with a friend or two about me, than to be attended at the seat of government by the officers of state and the representatives of every power in Europe.”
- George Washington
Virginia Forever
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@rossiadam Saw it flying over my house shortly after take off. All the kids were out in the street watching and cheering. Pretty epic moment.
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Artemis II is on the way to the moon.
And we have a full moon tonight.
Let me take this moment to remind you:
The moon is a message.
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@molzer True words Zach. Love you sharing your story. Cash burn is massive in development between exits. Not many other businesses are more lumpy cash flows and cash burn intensive.
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Running a development company is not easy and requires constant cash.
I have a team of 5. VP of development, Marketing Manager, and 2 VA's.
Payroll, subscriptions, investor relations, F&B expenses, travel & pursuit costs add up quickly.
We are spending about $20k/ month just to keep things afloat.
We will complete our first 2 projects over the next 12 weeks, and then yes, some development fees come in and eventually we will hit our promote.
Sure, we had small acquisition fees when buying these buildings/ projects, but those are nominal (<$100k TOTAL over 2 years)
So how the heck are we able to stay even somewhat alive right now?
Our social media. Brand deals, ad revenue etc.
Want to get into development? Great. My advice as someone who is in the thick of it is simple;
Start or find a cash-flowing business first, then use those funds to backstop your development company etc.
Without cash, you can't do anything. Blessed to have the social media dollars coming in to keep us afloat until July.
Godspeed
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@alan_stalcup Looking forward to checking it out Alan. Thanks for sharing.
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Enjoyed sitting down with Multifamily Dive to share the GVA story.
- 30k units
- 509 investors
- The Fed's most aggressive rate hike cycle in 40 years
- Two years of hard decisions.
The full story is available in the link below. It’s worth a read for anyone in this space.
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@rossiadam Wow. That clip was amazing. Never thought that would be a thing. It’s magical.
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I never would have predicted that I would be sharing a clip on retardmaxxing with my kids.
But I just did this morning.
Life is a beautiful journey.
Tony Jacob | FindaClip.com@tonjkb
Marc Andreessen explains the concept of 'Retard Maxxing' "Are you aware of the concept of the meme of retard maxing?" "A friend of mine sent me this thing and he said, 'Oh, here's your answer." "You're retard maxing.' And I said, 'I'm what?'" "And he said, 'Oh, watch these videos.'" "There's this guy on YouTube who has basically 100 videos on retard maxing." "He's like my new life coach. It's basically just like: go to work, do a good job, come home. It's fine." "Start a company, succeeds and fails, it's fine." "Have too much to eat one night, it's fine." "Ask a girl if she wants to go out with you, if she says no, it's fine." "It's the simpler form of the extreme ownership." "It's the form of it that says I don't need to take all this in on myself, I can just let it go." @pmarca @HarryStebbings @ElishaDLong @SolJakey
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It’s the boring stuff that matters most. Listen for the signal and you will hear it.
Bear Grylls OBE@BearGrylls
Some of the best advice I ever got in the military: proper preparation prevents poor performance. Simple. Boring. And it's saved my life more times than I can count.
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Years ago I founded a micro business training organization in Uganda called Work for Life.
The mission was simple.
Equip entrepreneurs with the right skills to reach their potential and fight poverty.
What that actually looks like: training people who earn $3 a day and helping them build toward $10 a day.
That shift is huge.
- It means a family that eats differently.
- A child who stays in school.
- A community that starts to believe things can change.
We're now reaching 10,000 people/year across East Africa.
But the thing I'm most proud of, I'm no longer running it.
The Ugandans are. That was always the goal.
Build something real, hand it to the people it was built for, and trust them to take it further than you ever could.
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@robbiehendricks Everyone has the right plan for them. Some just don’t know it. Others find it and it is different for everyone. Great post that reflects the complexity of real life.
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One of my friends has followed the Dave Ramsey debt snowball plan to the letter.
Attends every annual conference. Proud Ramsey advocate.
Early 40s. Husband is a cop. Couple kids. Just a great, red-blooded Ohio family.
Probably makes $200k/year as a household (just a guess).
Over the last 10 years:
• Paid off house
• Paid off cars
• 529s funded for kids
• On track to retire around 55
Now look, I’m obviously a debt-user and advocate for going out there and building wealth.
The Ramsey plan is not a character fit for me, as I’m admittedly wired very ambitious, and enjoy investing, building my business, and taking on that responsibility (and risk).
But these folks are doing better than 90% of the country - in a stress free manner - simply by:
• Finding a plan
• Sticking to the plan
• Not increasing expenses as income and savings grow
Something to be said for that, I think.
Stuck to their guns, didn’t care that it was “boring”.
Didn’t listen to other people telling them to be more aggressive.
Very happy for them.
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