We will buy close to $30,000,000 worth of goods from China this year with an average of 85 day payment terms blended.
These are 9 frequent mistakes I see founders make when sourcing from China 🧵
Framework I use to decide on an investment now:
1. Energy required
2. Personal time required
3. Capital required
In that order. 3. being the least important by a factor of 10 vs 1.
“His advice to young people was three rules. Do not sell anything you would not buy yourself. Do not work for anyone you do not respect and admire. Work only with people you enjoy.
And one line that held everything together. The safest way to get what you want is to try to
Charlie Munger was 31 years old. He was divorced, broke, and watching his nine-year-old son die of leukemia. He died at 99 worth $2.6 billion.
In 1953 he went through a divorce at 29. His wife got the house and most of what he had. He moved into a room and drove a beat-up yellow