Steady, Not Showy

The other day I saw a post by @RyanHoliday about his distaste for “hustle porn and grind culture.” Couldn’t agree more. I’m no Ryan Holiday, but hey, I’ve got thoughts too—and at least one Prius and two kids to back me up.

A few months ago, me and the kids were rolling in my 2012 Prius V, and our conversation went like this:

·        Avery: “Do you think you can tell a lot about someone by the car they drive?”

·        Me: “Maybe. What does my car say about me?”

·        Avery: “That you’re boring and reliable.”

·        Me: “…hard to argue with that.”

·        Avery: “But that’s why I love you. You’re always there for me.”

·        Henry (my son, from the backseat): “Cool Prius. Said no one, ever.”

Side note: I was flagged down in a parking lot this weekend, again, because they thought I was there Uber. It’s a strange thing when someone tries to carjack you from the back seat waving a phone around…

Truth bombs from the backseat. Between my gray hair, dad bod, and not-so-hot wheels, my kids keep me grounded.

And you know what? I’m proud of it. Reliability, trustworthiness, and being utterly unflashy—that’s my flex. Woody Allen said “80% of success is just showing up.” I’d argue it’s a little higher and I tend to show up ten minutes early.

What Are We Hustling For?

The people I’ve met who hustle the hardest usually aren’t chasing fulfillment, they’re chasing ghosts. They have a big chip on their shoulder forcing them to prove something to somebody, and ultimately they can never do it. The scoreboard for them is the next million, the next ten, no matter how many zeros they add, they’re still not satisfied.

Case in point: Elon Musk. He’s the patron saint of “success” in America, but if you read Walter Isaacson’s biography, the guy is miserable, has never enjoyed a single accomplishment. I’d optimistically say he has sacrificed his personal happiness to push humanity forward. Would I want his billions and life for me and my family? Not a chance.

Would I ever ask any of the people that we invest in to be the next Elon? No. I want people that are not driven by money and world domination, but are driving to build something lasting, holistic and recognize, our existence isn’t governed by money. The people we invest in are smart, work hard, stress out over their businesses, but they also have families, their kids know who they are, they go on date nights with their spouses. Their teams respect them, their companies are flourishing, and we are all better for it.

Grinding On the Right Things

Am I a grinder, yes, but for a whole lot more than money. I showing up every day, for my family, my team and my partners, I spread it around. If you sharpen a knife, you don’t just do one side, there has to be a balance to be effective.

At home: I make 98% of dinners with my family. No phones. We go around the table and talk about our days, share gratitude, and fire off jokes. It’s the most important board meeting I’ll ever chair. I’ve chosen to show up every day for family, and prove my dependability, not my net worth.

Others may “work for their family”, show up to 5% of dinners, and take extravagant vacations twice a year to “make memories”. This is a formula used by a lot of very successful people, and it may work for them, but it’s not my path.

At work: I grind on finding real businesses with strong fundamentals. No chasing unicorns, no trying to 100x overnight. I’d rather back the next Costco than gamble on the next crypto casino. For the record, Costco stock is up 3,935% over the last 20 years, while treating their people well, vendors like partners and providing value for their customers every day.

Balance matters. Grind unevenly and you end up a dull blade.

Steady vs Showy

In our YOLO environment it is really easy to forget the days of the dot.com boom/bust, think that “it’s different” than the GFC, but we are prone to peaks and valleys. My job, and my personality, is to smooth the edges, find the steady line upward. History is filled with all types of examples of both:

People

-          Steady: Warren Buffett, Charlie Munger, James Sinegal, Ingvar Kamprad, George Marshall, Dwight Eisenhower, Abraham Lincoln, George Washington, Marcus Aurelius, Epictetus

-          Showy: Donald Trump, Elon Musk, Steve Jobs, PT Barnum, Douglas MacArthur, Thomas Jefferson, Constantine, Socrates

Businesses/Investments

-          Steady: Berkshire Hathaway, CostCo, Microsoft, Blue Collar Businesses

-          Showy: Tesla, Bitcoin, AI Venture Backed Start Ups, Meta

Final Thoughts

My portfolio, professional and personal, consists of companies that I am willing to own for 20 years. They are built on timeless principles and solid fundamentals. This hasn’t always been the case, I’ve chased the momentum, tried to get rich quick, and every time, it has cost me. That’s a timing game, that I never seem to win.

As I’ve grown older, and had more miles behind the wheel of my Prius, I’ve gotten more comfortable in not chasing fads. Every cycle and opportunity is different, but experience and steady hand make me approach things differently. As the saying goes, “you never step in the same river twice”, but you know what water feels like.

I’m not on social media, only LinkedIn, my current car reflects my boring reliability, Scout may change that, and my portfolio is built on long term thinking, never been successful timing markets. This puts me out of favor with the hustle/grind culture and everyone chasing AI immortality, but I’m ok with that. Being well rounded, present for my family, and insisting the same thing in our portfolio companies is a great way to enjoy a life well lived, and generate great returns.