What’s it like to be rich?
Not just kinda rich… but really, really rich.
Today, I interview David Hauser, a co-founder of Grasshopper and angel investor in Intercom, Unbounce, and more.
In 2015, David sold Grasshopper for around $200 million.
He only had one other co-founder, and didn’t take investments — so he made a LOT of money.
Some people might think it’s taboo to talk about money…
But I wanted to go behind-the-scenes on what it’s like to sell a startup and make money most people only dream about. (Hint: It isn’t as glamorous as you think.)
In today’s conversation, you’ll learn 3 key things:
- What life is like when you sell a company for $200 million
- Why more money means LESS happiness
- The quickest way to generate wealth
And a lot more.
Stuff we talk about:
- Chargify. David founded this company, and got an investment from Mark Cuban.
- Grasshopper. David’s company he sold to almost $200 million.
- 3 investments I’ve done: Teachable, Huckberry, Buffer. Had these investments for about 5 years.
- Uber. According to Dave, people have made their entire career from this investment.
- Chartable. Podcast analytics and tracking that I use.
- Rich People Book. The book I wrote after learning where the ultra-wealthy (8-figures and above) put their money.
- Bandito. Restaurant that David invested in that he doesn’t think will get a great return.
Enjoy.
Leave a comment below and let me know what’s the #1 rich person thing that stuck out to you.
12 responses to “The $100 Million Man”
I worked for these guys at Grasshopper. And although you can’t deny their success, they made a lot of mistakes (my opinion). David’s business partner was this diminutive, sullen, bitter creep with a huge Napoleon complex and he made the Grasshopper staff miserbale. Both partners had excruciatingly bad people skills. The positive side? If those two can build and sell a company for $200M (hugely overpriced then and now – how shortsighted the new owners were!), then YOU (the reader/listener of this podcast) can do it, too.
Freaking love this comment!!
Where can we buy the “Rich People Book” that you’ve mentioned? Can’t seem to find it on the internet.
Hi, Eugene — David here from Team Dork. ?
Check out https://okdork.com/richpeople/ for details on how to buy. We’re only doing 100 copies, so it is limited.
Noah saying he has a payment plan so David Houser can be his friend is bold freaky funny yet underlies just how networking works in the digital age. who says it is not transactional?
This is a great interview – I like your voice and casual talking style. Like David said, I also have a story about having too much money = unhappiness which is a limiting belief, but I also know some really rich people who seem to be very happy. I listened to the 1st half. Will finish later when I get back from yoga class. Keep it up!
I could totally live in an RV and shower at the gym.
Is awesome to hear own made millionaire people. So humble, direct and “human”. They know what it is to be in the trenches. Thanks a lot Noah.
interested where the rich put their money
I think this conversation is so interesting. I’m running an agency. Does pretty well but nothing I can take tons of cash to invest, but I’m wanting to get to that point *this year*! 🙂
I have a friend (ppcian.com) who is all about investing for dividends. What do you think about that, Noah?
Don’t mean to step into Noah’s response. But here’s a thought.
– Dividend yields are usually 1.5-4%.
– The ability to pay a dividend at any rate should only be if the payout cannot be retained at a high rate of growth within the company.
– Unfortunately, many companies distribute higher dividends without regard to the above or to jack up yields and hence their market share prices. This can lead to dilutions later on.
– Besides, company value should increase for your shares to rise too. Which comes down to business model, growth, financial efficiencies etc.
So, dividend investing is not a sole strategy per se but can be a safe one for mature well known dividend paying firms in no danger whatsoever of slashing it nor going out of business.
This episode was dope. I don’t think David’s wealth and frugal habits are a coincidence. He has the best long-term family wealth distribution plan I’ve ever heard!