Billion Dollar Lessons

*DISCLAIMER 
This blog isn't going to be specifically about the topics I usually discuss. I usually talk about individual companies, business magnets, economy, markets, and everything that bothers anyone of the above-mentioned topics. 

Not once, but twice in the past, I have mentioned the TV show Billions. It is one of the very few shows that I have watched, and I have been marketing it like I promoted it. I am a person who, when I recommend something, I'll call the person and ask him or her whether they liked or properly understood it. There is no option for "you didn't like it." Either you liked it, or you couldn't understand what the show or the book had to offer. The thing is, I have recommended this show to so many people that it would take nearly a business day to hear their reactions or ask them about the show. Hence, I came to the conclusion that I would share the lessons that I learned, but still make sure that you watch them. So, without further ado, let me share the billion-dollar lessons I learned from Mr. Damian Lewis's BILLIONS. 

This show has some of the most impressive quotes that you need to be familiar with. So, I'll present my lessons in the similar manner. Before we begin, let me make you all familiar with the protagonist, Mr. Robert Bobby Axelrod. Bobby is a billionaire Hedge Fund manager who has become a cultural icon in the world of finance. While his methods and ethics may be questionable, his success as a startup entrepreneur offers many valuable lessons. He has got his charisma from Shah Rukh Khan, fashion sense from James Bond, wit from Harvey Specter, and physic of Utkarsh Bhagwat. I might have hyped him a lot, but he is worth it. Let's go. 

1. "I don't lie to myself, and I don't hold on to a loser". 
   The first half of the quote talks about something that even Warren Buffet talks about. The concept of alignment. If you are pretending to be someone that you are not, you won't have a happy life. Of course, incorporating some qualities that you admire is a different thing, but completely forgetting your identity is as good as mental suicide. You need to align your outer self with your inner self. Being comfortable with who you are is the best "rizz." The second part of the quote talks about two things: people and investments. Bobby has been portrayed as a person who can literally smell good and bad people and investments. The minute he feels that this is a bad investment or that this person is not worth his time, he will unapologetically stop hanging out with that person or get rid of that investment. 

This quality of him being emotionally distinct served him well throughout the show. Someone rightly said that life is too short to hold on to bad investments or to hang out with losers. The minute you find out that you are holding a bad investment or have been entertaining a loser, be completely unemotional and get rid of them as soon as possible. 

 2. "You weren't ready". 
  Spoiler alert: there is a scene in which Lara Axelrod, Bobby's wife, stats a business. She wanted to scale the business, so she approached the banks for capital. She did not want to use the family money because raising capital from an investment bank would have increased their brand reputation. The meeting ends on a sad note, leaving Lara with no capital. When she discusses this with Bobby, he replies, "Well, I tried to tell you that you weren't ready, but you wouldn't hear it from me. What is it that you do that you're the best in the world at? You offer a service you didn't invest in, a formula you didn't invent, or a delivery method you didn't invent. Nothing about what you do is patentable or a unique user experience. You haven't identified an isolated market segment and haven't truly branded your concept. You need me to go on." There is so much to learn from this monologue about Axe. 

Bobby has accurately pointed out how one should go about exploring new things. Whenever you want to try your hands on new things, instead of looking for the things that you don't have—external capital in Lara's case—focus on the things that you have and try to make things work out using those things. The most successful individuals are those who have a deep understanding of and expertise in their chosen field. You get paid for the things that you know no one else can beat you at. Only Shah Rukh Khan can enact SRK. No one else can mimic him better than him. 

3. "Whenever you can, put a company in your mouth". 
   Axe is considering a takeover of the fictional YumTime, a baked-goods company that sells products like Cuckoo Nutties, Ding Doodles and it's flagship, the Scrumpet. Axe is sure that the recipe for Scrumpet can be improved, and tells an employee, "Whenever you can, put a company in your mouth". The point? Trends are useful. Numbers are useful. But if you really want to know about a company, use its products or services. 

4. "You're ignoring the quiet (voice) inside". 
   Wendy, the firm psychologist, is working with a trader who has lost his confidence. "Everyone else is up double digits," he says. "I'm down." 

"You're just listening to the wrong voice," she replies. "You're tuned in to the one yelling at you over the loudspeaker that you're stupid, and you're ignoring the quiet one inside, telling you where the alpha is. Now, that's the voice that got you here." We all have that voice that got us here. That's the voice we all need to listen to, because that voice will also get us there. Intuition is something that I have started to recognize the importance of. It is a voice that shouldn't be ignored because that voice is coming straight from our subconscious. Once you start training your mind to deepen your sense of intuition, you will experience many positive changes. Axe knew the importance of his intuition. The very beginning scene in the show portrays this quality of his, where he is presented with an investment idea of 10 to 1 odd, which he rejects because of his intuition. It turns out to be a profitable decision.

5. "There's a way to make this work, and that way is hard. As Taleb says, 'become anti-fragile, or die."

       Axe has bought a town's municipal bonds in anticipation of a casino deal, but the casino will be built in another town. He has to decide whether to eat the loss or recoup his investment by seizing the town's assets. Neither is a great choice. An intern comes in and offers the most logical option. Should you always take the most logical option? Possibly not. Business decisions should involve more than just numbers and logic because business is also about people. What is the right answer? Finding the answer always requires looking at both sides. Antifragility is the ability to thrive and grow stronger in the face of volatility, uncertainty, and chaos. To become antifragile, one must embrace and cultivate a mindset and approach that not only withstands disruptions but also benefits from them. 

6. "First I figured out where the sharp action was, where the guys who had a plan were, the guys who grinded. Took the guesswork out of it." 
   Bobby had a very rough childhood. At a very young age, he understood the power of money and the wounds it could create. As a 14-year-old, he started horse betting, which gave him a good start. There is a scene where he books the entire stadium where he used to bet for himself and his lawyer and tells him how he was successful. The quote mentioned above was the answer. 

Take a close look at the people who are successful in your field. What do they do on a regular basis? Then adopt one of their habits and make it your own. Commit to a process, not a goal. Don't just set a goal of creating better customer relationships; commit to calling at least two customers a day to ask how you can serve them better. Don't just set a goal of landing new clients; commit to cold-calling at least two leads every day. Commit to a process that leads to a goal, and you're much more likely to achieve that goal. Focus on what you will do, not on what you hope will happen. Never reinvent a wheel when a perfect wheel already exists. 

These were some of the quotes, which I believe can spark some interest. Personally, I have watched the show quite a few times. There were mainly three reasons that got me hooked. One was Axe's personality. The second was his attitude towards making money, and the last one was our mutual love for money. I have a habit of writing down the lessons that a show or a movie has to offer. I wrote a few while watching Billions and would love to share them with you all. 

1. Surround yourself with talented and loyal people: Another critical lesson Bobby Axelrod can teach entrepreneurs is the importance of having a strong team. Axelrod has a team of talented and loyal employees who are committed to helping him achieve his goals. As a startup entrepreneur, you need to build a team of people who share your vision and are passionate about your business. This team should comprise individuals with diverse skills and expertise who can help you navigate the challenge of building a successful and an undefeated organization. 

2. Never stop learning: While Bobby is known for his cutthroat approach to business, he also has a strong sense of ethics and values. As a startup entrepreneur, it's imperative to prioritize ethical and responsible business practices. Building a sustainable and socially responsible business can benefit society, but it can also help you build a loyal customer base and attract talented employees who share your values. 

3. Be fearless in pursuing your goals: One of Bobby's most prominent traits is his fearlessness in pursuing what he wants. Whatever you do in life or in business, you will face many challenges and obstacles, but you should never let them deter you from pursuing your goals. Bobby Axelrod is known for his willingness to take risks and refusal to give up until he achieves his objectives. This determination and tenacity are essential qualities for anyone to incorporate into their life. 

Happy Investing.