We Study Billionaires - The Investor’s Podcast Network - TIP 092 : Billionaire Lives w/ Navy SEAL for 30 Days - feat. Atlanta Hawks Owner, Jesse Itzler

Starting point is 00:00:00 We study billionaires, and this is episode 92 of The Investors Podcast. Broadcasting from Bel Air, Maryland. This is the Investors Podcast. They'll read the books and summarize the lessons. They'll test the waters and tell you when it's cold. They'll give you actionable investing strategies. Your host, Preston Pish, and Sting Broderson. Hey, how's everybody doing,

Starting point is 00:00:30 there. This is Preston Pish, and I'm your host for The Investors Podcast. And as usual, I'm accompanied by my co-host, Stig Broderson, out in Denmark. And I'll tell you what, folks, hold on to your hats, because today's episode is going to be a blast. That's all I can say. Because we have a guest on our show today that is going to just be so much fun for you. You're going to be laughing. You're going to be taking notes. We're going to be doing all sorts of things. But today we have an insanely successful guest on our show. His name is Mr. Jesse Itzler. Jesse is the owner of the Atlanta Hawks basketball team, and he's the founder of the 100 Mile group. So Jesse's well known for being the founder of Marquis Jets, which was one of the largest private jet card companies

Starting point is 00:01:14 in the world. Well, it still is because it was sold off to Berkshire Hathaway, which is the parent company of Net Jets. And Jesse probably got one of the coolest starts in business that I've ever read about. And as you guys know, Stig and I read a lot of books here. So this is probably one of the coolest starts because Jesse started out as a rapper in the early 1990s. He had a single that made it into the Billboard 100, and he even wrote songs, forget this, Tone Loak. So I'm sorry, but that has to be one of the coolest backgrounds I think I've ever announced on the show there, Jesse. So recently Jesse decided they just didn't have enough excitement in his life and then you need to shake some things up.

Starting point is 00:01:54 So what does somebody do when they want to shake things up in their life but go out and hire a Navy seal to live with you for 30 days. Not only live with you, but train with you and just, you know, beat your physical body into oblivion. And so Jesse documented this experience in a book that Stig and I just recently finished reading and the name of the book is Living with a Seal. Stig, what are your initial thoughts about this book? And Jesse's just sitting here smiling and laughing because he doesn't know what to say with

Starting point is 00:02:24 our intro here, but that book was crazy. it was so much fun. This book was like, you know, we're used to reading about intrinsic values and discount cash flows and Stig. What's your one word comment for it? Unreal. So, Jesse, thank you so much for coming on the show and taking your just precious time to talk with us and to just teach our audience about business today. We're going to be talking business. We're going to be talking your time with seal and all this stuff. So thank you so much for taking time out of your day to talk to us. It's my pleasure. And your theme song, your opening

Starting point is 00:03:04 theme song made you want to jump through a window. It got me so fired up. It's like a business investor version of Rocky. It is. That's what we're shooting for. Maybe we need to change a little bit of the motto and work some of that in there. But that's exactly what we're going for. You know, and our mission statement, number one is we have fun. Number two is that we study billionaires and all the books they read. So that's what we're going for with the show. When I first started out in business, a guy by the name of Bob Silliman owned the company called SFX at the time, public company. And he said to my partner and I, when we first sold our company to him, our first kind of hit in business, he said, we got, he says the three things that

Starting point is 00:03:45 we do here. We have fun. We make money and we have fun making money. I love it. I don't know how people can go about their day and do something that they're not having fun and that they're not passionate about, which we have a question on that, which we're going to wait to get to a little bit later. But I completely agree with you, Jesse. So the first thing we want to do is we want to kind of open this up to you to tell people a little bit about yourself, maybe something that we didn't really kind of hit in the highlights there in the intro, but ultimately, how did you, after you give that little intro, how did you decide to hire a Navy SEAL to live with you for 30 days is our first question for you?

Starting point is 00:04:22 Sure. Well, just a little bit about me. I had a very non-traditional route in business, very unorthodox. I was always into kind of building a life more than building a resume. So I always kind of really followed my heart. As you mentioned, I started out in music. So I was in the music business as an artist, as a manager. I managed Run DMC and a lot of the old school rap guys for a while. And then I had a private jet card company. I ran 100 miles nonstop for charity, was a partner in Zico coconut water that we sold to Coca-Cola and most recently became an owner of the Atlanta Hawks with a great group of guys and friends. So I'm enjoying that. And what happened with the Navy Seal, you know, it wasn't planned, like a lot of things in my life. This wasn't planned at all. I was doing a race in San Diego. It was a 24-hour running race as a relay team of six friends. So, you know, like Preston, you would run a mile, Stig would run a mile, I'd run a mile. and whatever team ran the most miles in 24 hours won the race. There was a guy at the starting line right where we had set up that didn't have a relay.

Starting point is 00:05:28 He was his own relay. He had no one at the time too. Our supplies, we brought them all in. We had bananas and masseuse. I had just sold Markey Jet. We over did it. And this guy, to my left, had three items. He had a fold-up chair, one bottle of water, and a box of crackers 24 hours.

Starting point is 00:05:49 And I looked at it and I'm like, there's no way. There's no way. There's no way. And after Mile 70, sure enough, he had faced the toll of that, you know, took effect. Because of his weight, he had broken all the small bones in both of his feet, crushed him. And because he was only eating crackers, he had literally a kidney failure. So he sat down on his chair, his fold-up chair at Mile 70, and I watched this guy with his, you know, his feet were completely jacked. up. And the first thing that came to my mind was we need a medic. And what did he do? He basically

Starting point is 00:06:27 taped his feet with duct tape or whatever, got up out of his chair with his broken bones and ran another 30 miles to get to 100 miles. So I was like so blown away. I googled him. I learned that he had an amazing backstory. He was a Navy seal with, you know, an unbelievable journey. And I decided to call him. I wanted to just meet a guy like this. which is a theme in my life. When I meet someone interesting, I try to get in touch with them or meet him or bump into him in a street or whatever.

Starting point is 00:06:57 I flew out to meet him for 15 minutes with no agenda other than just kind of pick his brain. And about five minutes into my life, into our conversation, I realized that like, you know, whatever got this guy to get up out of his chair and run with broken bones and finish this race, whatever that drive was,

Starting point is 00:07:16 if any of that rubbed off on me, business in my personal life, training, and my relationship with my family and my wife, all those buckets would be better. So I literally just reached across the table. I said, you know, would you ever come live with me for a month? And he said, if you're crazy enough to ask me to do that, I'm crazy enough to come. And three days later, he was at my breakfast table. Wow.

Starting point is 00:07:43 So that, I mean, so here's the thing, Jesse. I have a background in the military. And I've worked around these guys. I know these guys. And I was reading your book and I'm thinking, this, even for that crowd that you're talking about here, the seals in particular. And even, you know, you get into some of the other obscure special operations forces that are out there. I was reading some of the stories and I'm like, this guy is hardcore. Even for that community, this guy was a standout.

Starting point is 00:08:11 And your story, I mean, to go 70 miles and to be, and I mean, to literally see this. Yeah. I mean, that's crazy. just two seconds on his background. He's known as probably the toughest guy or one of the toughest guys on the planet. He's known he broke the Guinness Book of World's records for most pull-ups in a day. He did 4,030 and 17 hours. He has set multiple records in endurance sports and races.

Starting point is 00:08:39 He lost. He was 300 pounds. When I saw him, he was 285. But, you know, he had a really tough childhood, African-American guy and a predominantly white and not accepting town. So he was ridiculed as a kid, lost his self-esteem, gained all this weight, joined the military because he just hated the reflection in the mirror and what he was becoming, wanted to turn his life around. And then when he lost some friends during some military stuff, he decided to raise money for the kids of the fallen soldiers and Googled the 10 hardest things

Starting point is 00:09:10 in the world to do and literally transformed himself into probably the best endurance athlete on the planet and really mastered the art of mental toughness. And that's what I was looking for when I asked him to come live with me. I wanted to get in great shape, but I wanted to apply what I learned to work, to, you know, all the challenges that come at all of us every day. And Jesse, speaking about endurance, the first time your wife Sarah saw seal was at the bad water race. It's a race you considered to participate in, but something your wife also called the dumbest thing she ever heard of. So, could you please tell us about the race, about the participants, and more importantly,

Starting point is 00:09:55 give us a brief introduction to Seale's personality and mental strength? It's a great question. So Badwater is a race through Death Valley in the heat of the summer in July, so the temperatures can get up to 135 plus. I think it starts at the lowest, at like, ground level and then the lowest point. and goes to the highest point, or one of the highest points, Mount Whitney, like 13,000 feet of elevation, and it's 135 miles through the desert. In fact, it's so hot that many people, the souls of their sneakers melt. So they bring multiple pairs of sneakers. So in any event,

Starting point is 00:10:33 the field is limited to 100 sickos that run this race. It's considered the toughest foot race on the planet. That's what it's coined. And I was debating running it because I felt like to be a runner you know, which I consider myself. I've done multiple marathons. I wanted to do the toughest race, you know, so I could say that I did it or at least attempted it. So my wife, having explained this to her, said, I'm not letting you do that until I go out and see the race.

Starting point is 00:10:59 So during our summer vacation, we flew out to Vegas, drove, you know, two hours to Death Valley to watch the race. There's no one out there. There's no spectators. I mean, it's on a straight line, 135 miles through the desert. So we parked like 30 miles into the race, and one by one, these guys are passing us. There's three different start times. And you would think that they would be exceptional looking athletes.

Starting point is 00:11:26 But the reality is they're just incredibly mentally strong humans that have the will to do this race. So it was almost like it balanced out. Other than the elite runners, the difference between those that could survive the elements and finish and those that Clint was simply those that had the and we're most mentally tough. So we're out there cheering people. And, you know, as these runners are approaching us, they're thrilled to see another human on the sidelines. They're high-fiving.

Starting point is 00:11:54 They're celebrating us. And then all of a sudden, this robot machine, shirtless, comes over the hill in like a full gallop. And my wife goes crazy and she's cheering them. And, you know, and of the 100 runners, he was the only one that didn't look up, didn't react, didn't even acknowledge us, just went right by. And my wife was like, who in the world?

Starting point is 00:12:21 What was that? And that is what moved into our apartment. Hey, it's just a little context for the people listening. So Stig was referring to Seal. And that's how Jesse refers to him in the book instead of his first and last name. And that was at the request of Seal that his name wasn't disclosed. So that's why we're referring to him as Seal, as we're talking about. talking about them. I also want to throw out there. So Stig was talking about Sarah,

Starting point is 00:12:48 who's Jesse's wife. So just a little context on Sarah. So Sarah's a billionaire who is the founder of Spanx. And for, you know, any guy out there or any girl out there knows who Sarah Blakely is because of the Spanx brand. And any guy out there, you have Sarah to thank for what she's done. So I just want to throw that out there. But when we go into the next part here, the next question that I have, Jesse, and it really, you're hitting on this. this theme of mental toughness. And it really being the mind that's really kind of setting people apart. And I liked your comment about when you're out there and you're looking at these people,

Starting point is 00:13:26 they don't necessarily fit the typical look of what you would think a runner looks like. It's really a test of just mental strength. So I think one of the key variables for people, and this is kind of my experience from, you know, going to a service academy and just kind of going through. maybe a milder form of what you're describing. Because I'm telling you, folks, if you read this book, the things that Jesse went through for 30 days was absolutely bananas, absolutely nuts. Okay.

Starting point is 00:13:55 So it far trumps my time at West Point or any experience I had there as far as the mental toughness that he endured for these 30 days. It was crazy. But the thing that I noticed from my experience of my four years in college and the theme that I saw in your book is that Seal would always look internally. for any mistakes or failures and never blame anything on his environment or the people that were surrounding him. I found that to be a very profound building block for people to become successful in life, is to have that mental mindset to always look internal, opposed to external

Starting point is 00:14:30 when trying to discover why something went wrong. So that was one of my key takeaways, but I'm really curious from your vantage point, Jesse, you went through all this craziness, you went through this experience. What would you say would be one, to three of the main points that you took away from these 30 days with SEAL. He had me go down and wanted to see how many pull-ups I could do, just to gauge where I was at physically. And I'm not super strong. I got up on the pull-up bar and I did maybe eight. And he said, right, wait 30 seconds and tried again. So I got back up on the bar and I did maybe six. And he said, wait 30 seconds and do it a last time. And my arms were completely like jacked up. And I maybe

Starting point is 00:15:09 eaked out like two or three and I was done. And he said, all right, well, we're not leaving the gym and you do a hundred more. And I said to myself, like, that's impossible. You know, like, maybe in Sealand, you can do with 100, like, that's not, I can't do that. And one by one, you know, I did them. And what I realized was that so many of our limitations are self-imposed, you know, and not just, you know, I said, like, God, if I'm under-indexing by 100 pull-ups, like, where else am I under-indexing in my life?

Starting point is 00:15:42 Yeah. You know, I had like really like dig in, like, God, I could probably do so much more at work. I could probably do so many more of the goals that I have. You know, maybe I'm not reaching high enough. So it was just like this whole concept of I have so much more in my reserve tank. To that point, you know, he had a rule. We call it the 40% rule, which I mentioned in the book, which is basically when your brain says you're done, you're really just 40% done. at the first time that we are experienced any kind of discomfort or pain,

Starting point is 00:16:15 our brain sends a signal to stop because our brain doesn't want us to get hurt. So that's the way we're wired. But when we ignore that tap on our shoulder, it says like stop because it's getting a little bit uncomfortable. God, this deals a little, getting a little challenging. I'm going to stop. Or, wow, I don't want to get into this business. This is, I don't, this is too much of a learning curve.

Starting point is 00:16:35 Stop. When we ignore that tap on the shoulder and realize that, God, we're only probably, probably 60% more in us, that's when all the great stuff happens. So that was another really, really powerful message. It's something that I tapped into as much as I can on a daily basis. You know, if I do, and I'll use physical examples, but I could use this in any kind of investment, anything. For me, as an entrepreneur, I've always gone into businesses that I've had no prior experience in. And for a lot of people, that would be a deterrent.

Starting point is 00:17:08 And for me, it was a deterrent at first, too. know, like, God, I don't want to get into this. This is, you know, I don't know anything about this. But it also became a great blessing because it guarantee that I would do things differently, it guaranteed that I have to be more creative, the guarantee that I would have to get out of my comfort zone. And Seal, as I referred to him, took it full circle because he constantly got me out of my comfort zone.

Starting point is 00:17:32 And that's such an important thing in business, especially if you're an entrepreneur, just to live outside and it's like space that is just uncharted. It's so important. Let's take a quick break and hear from today's sponsors. All right. I want you guys to imagine spending three days in Oslo at the height of the summer. You've got long days of daylight, incredible food, floating saunas on the Oslo Fjord, and every conversation you have is with people who are actually shaping the future.

Starting point is 00:18:01 That's what the Oslo Freedom Forum is. From June 1st through the 3rd, 2026, the Oslo Freedom Forum is enter. its 18th year bringing together activists, technologists, journalists, investors, and builders from all over the world, many of them operating on the front lines of history. This is where you hear firsthand stories from people using Bitcoin to survive currency collapse, using AI to expose human rights abuses, and building technology under censorship and authoritarian pressures. These aren't abstract ideas. These are tools real people are using right now. You'll be in the room with about 2,000 extraordinary individuals, dissidents, founders, philanthropists, policymakers, the kind of people

Starting point is 00:18:42 you don't just listen to but end up having dinner with. Over three days, you'll experience powerful mainstage talks, hands-on workshops on freedom tech, and financial sovereignty, immersive art installations, and conversations that continue long after the sessions end. And it's all happening in Oslo in June. If this sounds like your kind of room, well, you're in luck because you can attend in person. Standard and patron passes are available at Osloof Freedomform.com, with patron passes offering deep access, private events, and small group time with the speakers. The Oslo Freedom Forum isn't just a conference, it's a place where ideas meet reality and where the future is being built by people living it.

Starting point is 00:19:24 If you run a business, you've probably had the same thought lately. How do we make AI useful in the real world? Because the upside is huge, but guessing your way in it is a risky move. With NetSuite by Oracle, you can put AI to work today. NetSuite is the number one AI cloud ERP, trusted by over 43,000 businesses. It pulls your financials, inventory, commerce, HR, and CRM into one unified system. And that connected data is what makes your AI smarter. It can automate routine work, surface actionable insights, and help you cut costs while making fast AI-powered decisions with confidence. And now with the NETSuite, NetSuite AI connector, you can use the AI of your choice to connect directly to your real

Starting point is 00:20:08 business data. This isn't some add-on, it's AI built into the system that runs your business. And whether your company does millions or even hundreds of millions, NetSuite helps you stay ahead. If your revenues are at least in the seven figures, get their free business guide demystifying AI at netsuite.com slash study. The guide is free to you at netsuite.com slash study. NetSuite.com slash study.

Starting point is 00:20:35 When I started my own side business, it suddenly felt like I had to become 10 different people overnight wearing many different hats. Starting something from scratch can feel exciting, but also incredibly overwhelming and lonely. That's why having the right tools matters. For millions of businesses, that tool is Shopify. Shopify is the commerce platform behind millions of businesses around the world and 10% of all e-commerce in the U.S., from brands just getting started to household names. It gives you everything you need in one place, from inventory to payments to analytics.

Starting point is 00:21:10 So you're not juggling a bunch of different platforms. You can build a beautiful online store with hundreds of ready-to-use templates, and Shopify is packed with helpful AI tools that write product descriptions and even enhance your product photography. Plus, if you ever get stuck, they've got award-winning 24-7 customer support. Start your business today with the industry's best business partner, Shopify, and start hearing sign up for your $1 per month trial today at Shopify.com slash WSB. Go to Shopify.com slash WSB.

Starting point is 00:21:46 That's Shopify.com slash WSB. All right. Back to the show. Well, Jesse, could you tell us more about this process? Because you're saying that you're only using 4%? You have 60% more in the tank. What's happening in your brain when, you know, it starts to hurt and you just keep on going? Well, I think, I think I just refer to that as mental toughness, not motivation, not passion.

Starting point is 00:22:13 I think that motivation can fade, passion can fade, but it's mental toughness. And mental toughness, grit, resilience, you know, it's like a muscle. You have to constantly exercise that your brain. You have to create an environment of when things. get hard, I'm going to continue to go. I'm not going to quit. And by doing stuff that makes you uncomfortable, the way I look at it, I'm like, I'm just exercising my muscle. But by doing things consistently that suck, you can raise that bar a little bit. And once you raise it and you continue to exercise and you raise your set point, it never goes back down. So my approach is just let me

Starting point is 00:22:54 push myself, regardless of the outcome, success or failure. And let me just create this environment in my head that, man, I'm off for anything. I think an important part to this, too, Jesse, is the culture that you place yourself in. Because for you, that first experience where, you know, you did call it 10 pull-ups or whatever. And then he's like, okay, well, no problem. We're not leaving until you do 100. It was like 10 more than you ever even thought impossible by any stretch of the imagination. And then you did it.

Starting point is 00:23:25 You know, you hung around there. Now, it might have taken you longer than what you thought. But then you did it. The culture that Seal was basically creating for you allowed you to basically see this, this hidden universe to yourself of 100 pull-ups is possible. It is something that I can do. And I think when you surround yourself with people that have the ability to think and stretch their limits and to, I guess, be hardcore like that and really kind of pull you along initially,

Starting point is 00:23:53 next thing you know, your mind starts adapting to that culture and you start thinking it and believing it and then teaching it as well as time progresses. And I think it's so important for yourself to surround yourself with people that are going to take you to the next level and not pull you down and tell you how hard it is. Without question. And drive is so contagious. So you want to surround yourself as much as you can with people that are on this, want to go the same direction you're going. And, you know, for me, and I can say this firsthand just because I had the, I had that experience. So I had the opportunity to live with inspiration for 31 days. You're dead on, surrounding yourself with people, putting yourself in that situation because it's so easy to listen to people and be like, so many, why are you doing that? Why are you doing this? I hate that because that's where I feel most alive. That's where I get the most reward. That's where I see what I'm made of. That's what gives me great. And that's what I can apply to other stuff, not just reading it. There's no magic. You can't will this stuff in. You can't just, it doesn't just say like, oh, man.

Starting point is 00:24:58 I want to do this and it's going to happen. It happens by a series of consistent events. It happens by failing. It happens by pushing the limits. And, you know, I didn't really get all that until I went through this journey. I had been doing it through my, you know, in my life because, you know, I think the greatest gift I gave myself early on. And I think it's one of the greatest gifts that anyone can give themselves is getting

Starting point is 00:25:24 over the fear of embarrassment. When you redefined failure is just not trying, not giving your all or being too scared to try something. So, Jesse, you were actually in pretty good shape. Whenever Seel moved in, you have been running multiple marathons and longer races too. So even though that you're saying that it was to improve your fiscal state, you were still in a good shape. But Seal still managed to take this to a whole new level. And I remember one thing from the book, and that was that at day 27, for instance, you managed to do 1,000 push-ups. To me and I think almost everyone in the audience, this seems almost unrealistic to achieve.

Starting point is 00:26:07 So I'm curious to hear about your thought process after living with Seal because in your book, you say at the same time that he was doing 2,500 push-ups and you just talked to us about him doing more than 4,000 push-ups. You said that Seel really taught you the appreciation of difficulty. So how has that realization influenced your physical training today, but also how has it influenced your personal and business relationships? Right. So let me just go back to the first part of your comment about when he first moved in. And, you know, when he first moved in, I was in a routine. Like so many of us, I'm sure a lot of folks listening today, you know, are in a daily

Starting point is 00:26:47 routine. And routines are great. but routines can also be a rut. So for me, you know, I was doing the same thing and it became such a routine that it was just that. It was just like next day, next day, next day. I wasn't improving. So, you know, when he came in and we started doing all these challenges, the first thing was I had to get out of my routine, change the way that I was thinking about things and approaching things.

Starting point is 00:27:11 When he came, I could do 22 push-ups. And when he left, I was doing a thousand a day. And he had a motto every day we have to do something that sucks. And if it doesn't suck, we're not going to do it. And at first, and it sucked. Believe me, it all sucked. But by around day 14, I noticed the shift. And what would be like, man, I don't want to wake up and do this again, man.

Starting point is 00:27:36 I do not want to do this became, gosh, man, I can't wait to see what I can do today. To really get better, you have to go through in anything, in anything. A little pain, discomfort now out of your comfort zone. I don't want to simplify this, you know, saying going from 22 to 1,000. But I'm actually curious how much of that is due to a different state of mind and how much can be accredited to you building up more muscle. And just to clarify, I went from, I did a thousand a day. So we broke them up maybe like, you know, 100 in the morning, 100, but still, it was still a lot.

Starting point is 00:28:13 Thousands are a lot to do, especially for me. I'm not even at all remotely strong. I would say that 80% of it was probably mental. And let me just give you an example. When I started running, I was running three months, not with seal in my life. I was running. My goal was I was going to run for 20 minutes, 10 minute miles. I'm like, if I could run 20 minutes without stopping, that's an accomplishment.

Starting point is 00:28:38 And then gradually my pace built up to nine minutes. And I was like, all right, let me get to 27 minutes. That'll be three miles. And then my goal was time was 40 minutes. and then ultimately an hour three, because I'm like, that would be a seven miles and a nine minute pace. Let me get to an hour three.

Starting point is 00:28:55 That 20-minute run, which ultimately became three miles and gradually built up to 100 miles nonstop. And the biggest change wasn't like I was never, during my 100-mile run, I was never more out of breath where my heart rate went up more than my 20-minute run. But it was the mental,

Starting point is 00:29:17 practice of convincing myself that I can do it. Roger Bannister broke the four-minute mile, spent more time convincing himself and visualizing himself that he could run a sub four-minute mile than actually time on the track. You know, he had to make himself believe because no one had ever done it, that it was humanly possible. So if you were to ask Bannister, he would probably say, man, I spent more time training my mind than physically sprinting. That's so profound. And that's something that we talk about on our show a lot because that's a common theme that we see with billionaires is that they spend a lot of time. And it really kind of goes, I'm sure you're familiar with the book Think and Grow Rich. And talking about how do you train your subconscious mind to

Starting point is 00:30:01 basically put these things into practice and to basically build this environment around you where you're able to accomplish what it is that you think about most? I always have a movie in my head. Okay. So I have a movie. I know how it ends. And let's just take the 100 mile run. Let's take Marquis Jett. Let's take whatever. Markey Jett, we're going to build this up. We're going to sell it. We're going to work. That's the ending of the movie. I'm going to go across the finish line. I'm going to celebrate

Starting point is 00:30:25 this 100 mile run. The rest is just filling in the script. The rest is just right as the journey. For me, I always want to know like this is where I'm going to end up. I'm going to get here. Regardless of the consequences of my body, if it's a run, regardless of the commitment

Starting point is 00:30:41 of time, if it's a business, this is the end of the movie. and now let's go write the script. And you're like, listen, this is going to sound crazy, but since I'm a big basketball fan, since I'm 25 years old, I always envisioned myself being involved with an NBA team. Always.

Starting point is 00:30:59 I had no idea how I would get there. I had no idea, but it was just always a movie in my head. I couldn't see it clearly, and I didn't know who it would be with, who my partners would be or what team it would be, but I just knew that sometime in my life, that I would be there,

Starting point is 00:31:15 and that hopefully I could help move the needle for that team. That's amazing. Thank you for sharing that with us because this isn't something. These aren't insights that the typical person gets to hear from a person, you know, a professional sports team owner, to hear somebody say that, to know that at a young age, some people, A, wouldn't say it. And for you to tell our audience this is very profound because this is stuff that we talk about and this is stuff that we tell our audience that this is how people like yourself think

Starting point is 00:31:45 and to hear it from you straight from your mouth is just really quite amazing for us to know that this stuff does work. To me, this was not only a book about living with a seal. The way I rated was also a book that compiled a lot of your life philosophies, Jesse, and one that was really profound was actually about fruit. And then people are thinking, oh, what's happening here? Why sticks talking about fruit? But I actually find it very relevant. And I'm curious to hear more from you, Jesse, not just only why fruit is important, but also about how to use your energy. It's a great question. So, well, I read a book.

Starting point is 00:32:25 I was so lucky to read this when I was young. Before I ran my first marathon in 1991, I read a book called Fit for Life by Harvey Diamond, who has since become a good friend and has updated it with a book called Fit for Life, a New Beginning. And one of the main principles in the book is to only eat fruit until noon. I'm happy to go into the reasons why at a high level, it's because digestion uses more energy than anything else. You have a big meal. You usually get tired because your body is using so much energy to digest it.

Starting point is 00:32:58 Fruit digestes incredibly fast, very easily, and provides all kinds of nutrients and goodness. And in the book, it challenged the readers to try only eating fruit until noon, to conserve, to maximize your energy, and be more efficient, rather than having a bagel or bacon or eggs that requires a lot of energy. I tried it for 10 days. I only ate fruit. And then I said, all right, I'm going to go back to my old ways. And when I did, I was like, oh, my God, what a difference. So the first couple of days were challenging.

Starting point is 00:33:32 In fact, maybe I went to 10, and maybe I went to 1030, but ultimately to 12. And then I felt so good. I have so much energy. I mean, I can't even explain it. I don't even know what it feels like to not have energy on a daily basis or to be tired or whatever that I just 27 years later, I haven't gone back. You know, listen, I'm not a food scientist. I'm not a nutritionist, but I am a trial and error guy.

Starting point is 00:33:57 And I tried this for me and it worked. It is relevant to investors, businessmen, and entrepreneurs. I'll tell you why. Because how you feel is a reflection of how you operate in business. If you're sluggish, tired, whatever, it's going to impact how you operate daily. Who wants to miss two weeks to work because you have the flu? You want to operate at optimal at the highest level you can operate mentally, physically, spiritually. So I think it's incredibly relevant to anyone in business because you are your greatest asset.

Starting point is 00:34:33 You know, you could be a billionaire on an island surrounded by Victoria's Secret models in Hawaii getting fed grapes and have a sore throat, you won't even care about your money or the beautiful women serving you grapes. You want to get rid of your sore throat. So I think it's really important that, you know, and it should be talked about. I completely agree with you, Jesse. And I think it's also interesting to hearing your story because it's not the typical, this is how I made a lot of money. So I started my own shop and then I bought a bigger company and then I sold it. I mean, there are so many different, so many angles to include whenever you're talking about investing and living a good life. And I'm actually thinking about the story that Warren Buffett always tells that say that you're 16 and you can only drive one car the rest of your life.

Starting point is 00:35:25 What would you do with that car? You would probably take really good care of it. And that's basically what you're saying. And obviously his metaphor is your brain. You should take really good care of your brain. And that's what you're saying about your buddy. Absolutely. Let's take a quick break and hear from today's sponsors.

Starting point is 00:35:43 No, it's not your imagination. Risk and regulation are ramping up and customers now expect proof of security just to do business. That's why VANTA is a game changer. Vanta automates your compliance process and brings compliance, risk, and customer trust together on one AI-powered platform. So whether you're prepping for a SOC 2

Starting point is 00:36:03 or running an enterprise GRC program, VANTA keeps you secure and keeps your deals moving. Instead of chasing spreadsheets and screenshots, VANTA gives you continuous automation across more than 35 security and privacy frameworks. Companies like Ramp and Ryder spend 82% less time on audits with VANTA. That's not just faster compliance, it's more time for growth. If I were running a startup or scaling a team today, this is exactly the type of platform I'd want in place. Get started at Vanta.com slash billionaires. That's Vanta.com slash billionaires. Ever wanted to explore the world of online trading but haven't dared try?

Starting point is 00:36:46 The futures market is more active now than ever before, and Plus 500 futures is the perfect place to start. Plus 500 gives you access to a wide range of instruments, the S&P 500, NASDAQ, Bitcoin, gas, and much more. Explore equity indices, energy, metals, 4X, crypto, and beyond. With a simple and intuitive platform, you can trade from anywhere, right from your phone. Deposit with a minimum of $100 and experience the fast, accessible futures trading you've been waiting for. See a trading opportunity.

Starting point is 00:37:20 You'll be able to trade it in just two clicks once your account is open. Not sure if you're ready, not a problem. Plus 500 gives you an unlimited, risk-free demo account with charts, and analytic tools for you to practice on. With over 20 years of experience, Plus 500 is your gateway to the markets. Visit Plus500.com to learn more. Trading in futures involves risk of loss and is not suitable for everyone. Not all applicants will qualify. Plus 500, it's trading with a plus. Billion dollar investors don't typically park their cash in high yield savings accounts. Instead, they often use one of the premier passive income strategies for institutional investors, private credit.

Starting point is 00:38:04 Now, the same passive income strategy is available to investors of all sizes thanks to the Fundrise income fund, which has more than $600 million invested in a 7.97% distribution rate. With traditional savings yields falling, it's no wonder private credit has grown to be a trillion dollar asset class in the last few years. Visit fundrise.com slash WSB to invest in the Fundrise Income Fund in just minutes. The fund's total return in 2025 was 8%, and the average annual total return since inception is 7.8%. Past performance does not guarantee future results, current distribution rate as of 1231, 2025. Carefully consider the investment material before investing, including objectives, risks, charges, and expenses. This and other information can be found in the income fund's

Starting point is 00:38:55 prospectus at fundrise.com slash income. This is a paid advertisement. All right. Back to the show. And listen, for me, it's been, it's really changed the course of my life. And I recognize that it might not be the case for everybody. But for me, it's been a really good blessing for me. So Stig was hitting on a little point here that I think is really profound and important for people to capture. And this is something that you talk about in your book, Jesse. and that's this idea of you only go into business and do things that you're passionate about. This is advice that we tell people. We get the question a lot.

Starting point is 00:39:32 Like, how do I start with the business that I want to create someday? And I say, if it doesn't involve something that you're really passionate about, you're not going to wake up at 5 a.m. in the morning to work on it or whatever the case might be. So tell us a little bit about your own personal experience with that and why you believe that you have to do something that you're really passionate about to be successful. You know, I think you do have to be passionate about what you're doing, but I think even more importantly, you have to be passionate about the challenge. So the passion about the product or the venture is important, but the passion about the challenge and the journey is more important. I love this new widget that I have. But if I'm not passionate about putting in the hours and learning and hiring my weaknesses and figuring out what I don't know and dealing with the obstacles that come my way,

Starting point is 00:40:22 then the passion for the widget is almost irrelevant. So I think people get confused about the word passion and what that really means. Just because you're passionate about your widget doesn't mean it's going to be successful or necessarily that you're going to like going to work. You have to embrace and the passion has to come with the journey to start, build, and bring to the finish line, the widget. That is phenomenal. That's a twist and I wouldn't really necessarily even call it.

Starting point is 00:40:52 call it, twist probably isn't the right word for it. But I think that people can get lost in passion and passion, you know, oh, wow, man, I'm so passionate about music. I'm going to be an artist. And, you know, that can lead to a lot of frustration because that is just the tip of the iceberg. And, you know, oh, man, I didn't work for me, but I was so passionate about it. Well, yeah, because, you know, the passion is about the process.

Starting point is 00:41:20 So, Jesse, one thing that was not included in the book was what? happened when you sold my key jet that's one of the largest private jet car companies in the world and the company that you co-founded and then when you sold the company later and you did that to net jets and i'm sure a lot of the listeners would be familiar with this company because it's at berkser halloway subsidiary now jessie could you tell us about the process of such a last transaction we had worked my partner and i started this company in 2000 2001 and we had worked hard for nine or ten years, you know, on it. And this was the right fit for us. But I will tell you that for me, personally, if you didn't bring it up, I would never think about it. I don't think about it on a

Starting point is 00:42:04 daily basis. Yes, it was a positive experience in my life. You know, it provided me with a lot of things, but I'm a big check the box guy and move on. So right after we celebrated it, but it was like, what's next? You know, like, that was great, but it's in my rearview mirror. And I I want to have a really big front mirror, you know? So the process was like any transaction. It required negotiation, you know, a regular process. But the end of it, for me, it wasn't a big celebration. It was just like I love the journey.

Starting point is 00:42:38 I learned so much from it. I met great people. We, it's on to the next. What's next? I think it's interesting that you say that. Preston, I, are you reading a book about the Sapper's founder? He's talking about how he almost felt. relief after he sold his company to Microsoft.

Starting point is 00:42:56 And I'm curious to hear if that's the same feeling you have or if it's more, okay, we're looking forward. It was a lot of fun. But now, on to the next thing. Yeah. I didn't feel relief or anything like that because I don't know if I mentioned this, but like, you know, it's never been for me about building a resume. It's about building a life.

Starting point is 00:43:16 And Markey, Jet and anything else that I've done have been part of the puzzle of my pie chart. of my life. And quite honestly, regardless of the amount of time, as far as mental anguish or whatever, a small part, because my family is a big part. My personal growth is a big part. My friends and family, all that stuff. And business, it was super important to me, but I didn't feel relief because I had all these other buckets felt very full to me. What was it like dealing with Warren? Was Warren part of the deal or were you dealing with other people during the sale? Small part, other people. But Since then, my wife has become really good friends with Warren. I spent a lot of time with Warren.

Starting point is 00:43:57 And even most recently at the Berkshire shareholder meeting, multiple dinners, my wife did the giving pledge with Bill Gates and Warren Buffett. So we meet every year at the annual retreat. So since then, I've got to really enjoy him. And what I love about Warren is obviously a brilliant guy. You know, he can simplify, simplify complex questions and answer them so my six-year-old can understand him. But he's hilarious. Yeah. He's hilarious. It's fun to be around. So Jesse, one of my favorite sayings, when I'm around friends and people that, you know, obviously listen to the show and

Starting point is 00:44:33 things like that, I like to say, make moves. That's like, that's my final statement that I usually say to people. Make moves, baby. And when I was reading some of your stories, like the one that you, you know, you flew down to get this sound clip for a foot locker commercial and just, I realized, you're a move maker. You're constantly making moves. And so my question is, how do people that are listening to this that maybe aren't necessarily move makers, but want to be that guy just always making moves? Is that something that can be learned? Is that something that you're born with? Or is that something that you can develop over time by being around maybe a culture or whatever? I'm just curious to hear your opinions on this. I don't know. I think it goes back to the getting over the

Starting point is 00:45:18 fear of embarrassment, you know. which I didn't always have, you know, but once you get over, try something and experience it, because, you know, if you don't do it, nothing's going to happen, right? So if you don't make a move, get on the phone, whatever, you know, the outcome. You know, I wasn't, I wasn't the guy that really necessarily felt comfortable in big rooms or this or that, certainly not the smartest. But I realized that anyone could just show up and that's when all the stuff happened, you know? guys were sending out resumes and mailing them or whatever, I was just showing up. And so for me, you know, that that was a really good thing to experience early on.

Starting point is 00:45:59 And it just became a theme. And I think it kind of goes back to a little bit of what we were talking about earlier, where you were saying that you had 100% confidence, this is the way that the movie's going to end. And you like had this positive, you know, maybe the probability is like one in 100 that it's going to happen. But you know what? Hey, I'm going to try. You never know. It might work out. I think people that have that mindset kind of have that movemaker gene, if you will, at just pulling things off.

Starting point is 00:46:27 I think so. I think you have to have a little bit about I don't care attitude. Listen, when I was younger, I didn't care about the consequences. I just wanted it so bad. I didn't have a B plan. You know, after college, I had really two things I could put on my resume. I was a kiddie pool attendant, and that's not going to get you very far right out of college. And I was a rapper that really didn't do. good. So I could almost say I was a failed rapper. So that being said, you know, you really don't have a choice. You have to take those chances. And as a kid in your 20s, the consequences don't matter. So my final question, yes, is that in your book, you talk about your love for reading. What is an influential book that you have read that helped you become so successful in business? I'm going to have to go back to the book Fifth for Life, you know, and I know it's a little bit odd on this particular podcast when you guys talk about, you know, other things. But the book, the books put me on the right course.

Starting point is 00:47:26 And sometimes you think you're on the right course. And, you know, if you're in a sailboat and you're sailing to England, you're going and you're going and you think you're on the right course, but your rudders a little bit off, you end up in Africa. This book kind of put me right on the right course because my days got extended, my energy got extended, and I got more clarity around what was important to me. So as crazy as it seems, the most influential book in my life wasn't a business book or wasn't a motivational book. It was a book about health.

Starting point is 00:47:58 If you have health, you have hope. If you have hope, you have everything. That's awesome. I love it. So, Jesse, here's the deal. Stig and I, we study all these billionaires and we try to determine the critical habits and behaviors so that we can take that and put it into use in our own lives. and when we read your book and we studied your background, there was one thing that you had done that no other billionaire has.

Starting point is 00:48:23 And so as a result, we wanted to demonstrate this new and critical behavior for you so we can follow in your footsteps. And if you haven't figured out what I'm referring to, it's our very own rap song. So here it goes. Here we go. My name is Preston Pish.

Starting point is 00:48:51 We like to make our beats go really fast. We run a podcast. We have fun. We always have a blast. We study billionaires to give our fans' direction. Now get up, get down, and hit me with the brass section. You know, what's your initial thoughts here, Jesse, on our, on our talents? Do we have hope?

Starting point is 00:49:17 It's next. From the beginning, our show has been bringing the smartest of the artist from the industry. of money making. We try to find the facts. We always have your backs. But there's something that we're missing and we're reminitioned when we got a billionaire so you better sit and listen. Jesse It's Ler. This dude is always making moves. He taught us in his book that it's all about our attitudes that get success and our best. We want to thank you much for coming on the be our guest. Excuse me, pardon my interrupts and never stick bees, but it arrives like When I look at Jesse, I don't wonder how it done so well.

Starting point is 00:49:58 This one thing I see he knows and that the fact we do can sell. It's not the jet to the hawk or the fast car. You think he got his wealth because he started as a rap star. Ooh. Be a billionaire. Jesse is a bigionaire. Got a rap song. Very, very catchy.

Starting point is 00:50:30 I just had to ask Jesse. I know that you didn't sign 50. sense when you have the chance. Do you think you can afford not signing pressing in me? I love it. Oh, you should have seen our faces as we were recording that. It was just like, oh my God. I had a blast doing it. Oh, my God. The last two weeks, that's pretty much all we've thought about is that song. I love it. That is really good, guys. So thank you so much, Jesse. All jokes aside, we were obviously having fun with the rap song there, but the information that you gave our audience is just so priceless. It's timeless. It's stuff that people can listen to,

Starting point is 00:51:08 you know, years from now and really gain some incredible insights. So thank you for your precious time and coming on the show. My pleasure. My pleasure. Listen, I had a great time. I really appreciate you guys. All right, guys. That was all that we have for this episode. We'll see each other next week. Thanks for listening to The Investors podcast. To listen to more shows or access to the tools discussed on the show, be sure to visit www.theinvestorspodcast.com. Submit your questions or request a guest appearance to the investors podcast by going to www.com. If your question is answered during the show, you will receive a free autographed copy of the Warren Buffett Accounting Book. This podcast is for entertainment purposes only. This material is copyrighted by the TIP Network and must have written

Starting point is 00:51:54 approval before a commercial application. Thank you.

We Study Billionaires - The Investor’s Podcast Network - TIP 092 : Billionaire Lives w/ Navy SEAL for 30 Days - feat. Atlanta Hawks Owner, Jesse Itzler

There aren't comments yet for this episode. Click on any sentence in the transcript to leave a comment.