Do you build a company for growth with an exit in mind, or for profit? In the whimsical world of the internet, the former reigns supreme. We all see the venture money flowing freely and every programmer with an IQ north of 110 is trying to capture some of it. Personally, I find the whole VC business to be extremely distasteful. The way I see it, if you can’t fund yourself, you shouldn’t be in business.
Now don’t get me wrong. There are some capital intensive projects that requires backers. Without investors, we’d all be riding on fucking horses and living in log cabins. But the internet is more wasteful than you think. It is the embodiment of living above means. These little fuckers all want to be Facebook or Google. The truth is, Facebook is Facebook and you’re just a sales pitch.
From day 1 of iBankCoin, the stated goal was to build a profitable organization by catering to investors, doing so with style and a not give a fuck attitude–but always with grace of course. It’s that simple. We built products that are sold elsewhere for 10x what we retail it for, and do it better. We’re in the midst of building the second iteration of The PPT (our flagship product) and every detail is being thoroughly combed over, making sure it is met with satisfaction.
Some people ask me why I don’t raise money and expand iBankCoin. My answer to them is “how did that work out for the buttfuckers at TheStreet.com?”
The larger a company gets the more stilted it gets. It is my desire to keep iBC small, nimble, yet extraordinarily efficient. One of my appetites for growth is in news. With the elections and the Olympics around the corner, I know news is an area where growth could be had. I am willing to pay a decent salary to a workhorse who is interested in making a name for himself. That person has not been found yet.
The site has grown in traffic and scope since inception. We could be bigger if I would just stop saying “fuck”; but I don’t want to. It’s not what I’m about. Some of you get caught up with my stock picks and like to stick it to me when I lose. But you just don’t get it. Money is not the only thing that drives me. If it was, I’d be out there with my tin cup, begging for some of that ponzi money.
I like to believe this site can remain a home for the individual investor who doesn’t give a shit about what misguided analysts or talking heads say about the market. We are about consensus and how it correlates with making money. Everything I do is designed to find better solutions to making money, some fail, others do well. It’s a process that is being displayed in real time, for better or for worse.
I fuck up. Hell, I fuck up a lot. Sometimes my mistakes are accidental or due to bad luck. Other times I just blow it, sort of like not selling YELP at $32 last week. Moving on, I don’t live in the past, wallowing in the mistakes of yesterday. If I did that, I would have checked out of the business of money management a decade ago.
Do you know how many times I lost a million plus on a single idea?
Often.
So many times I felt like “this loss” was the final straw, the end of Le Fly. So many times I felt defeated, enveloped by doom, brought on by my own gloom. I’ve had draw downs of 50% inside of a few weeks. Last year, my entire book fell almost 30% inside of two weeks. You know what? I made it back every single fucking time. I do it because I have no choice. It is my job to make people money, no matter how hard it may be. My efficiency is the result of 20 years of trial and error. You may think you know everything, sitting there in your bullshit pleather chair from Staples. The majority of you don’t have the scars of war on your chest, the late night horse kicks to the fucking sternum to remind you that money is about to evaporate. That’s okay.
My best mentor once told me “the fastest way to success is to emulate someone who has already done it.” Clearly, I am nowhere near my desired peak in life, as I have mountains to climb and enemies to destroy. Still, “The Fly” is here to accommodate any questions you may have, regarding investments. Don’t let my gun slinging tone stop you from peppering me with serious questions.
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