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🔑 Key Takeaways

  1. Don't let setbacks define you. With persistence and determination, you can pursue your dreams and achieve financial success by taking a proactive and strategic approach to money.
  2. Jess Mah stands out as an impressive entrepreneur due to her ability to tackle difficult problems and her involvement in bold science bets, making her a noteworthy and fascinating individual in the field of entrepreneurship.
  3. Jess Mah's entrepreneurial journey highlights the importance of adaptability, maintaining ownership, and being open to new opportunities. Embracing risk and overcoming failure are essential for growth and success.
  4. Embrace the discomfort of being a beginner and set realistic expectations. Allow yourself to make mistakes, learn over time, and become competent through hard work.
  5. Success is not limited to those with innate talent, but to those who are willing to learn, adapt, and collaborate with others. Continuous learning, seeking guidance, and building a supportive network are essential for achieving success.
  6. Pursuing work that brings happiness, rather than focusing solely on money, is essential. Waiting for perfect circumstances or accumulating wealth without purpose can lead to regret and unfulfilled dreams. Prioritizing true desires is ultimately less risky.
  7. Don't let waiting and limitations hold you back. Be honest about your aspirations, prioritize resourcefulness, and seize opportunities to achieve anything you want.
  8. Jess Mah's discussion on a manifestation studio highlights the importance of hiring experts, raising funds, and approaching challenges from a different perspective to shape a future with groundbreaking advancements and endless possibilities.
  9. Meeting in person goes a long way in showing commitment, building trust, and deepening relationships, surpassing the impact and connection of virtual meetings.
  10. Being proactive in seeking out and learning from experts can lead to valuable insights and opportunities for personal and professional growth. Additionally, having the ability to identify and evaluate talent is crucial for success in entrepreneurship and investing.
  11. Embrace a mindset focused on mindset and psychology, not just tactics. Prioritize tax optimization and seek advice from multiple professionals to maximize savings. Age and financial resources don't have to be barriers to starting and succeeding in business.
  12. Seeking multiple opinions and expertise is crucial for making informed decisions, as it provides a broader perspective and better solutions. It is also essential to prioritize understanding and optimizing expenses and investing in mental and physical health for overall success and well-being.
  13. While certain methods and supplements claim to enhance well-being, their effectiveness is not scientifically proven. Individuals should exercise caution, consult medical professionals, and be wary of inflated prices.
  14. Billionaires utilize the tax system by buying luxuries like yachts and cars, saving money through write-offs and asset appreciation. It's a different mindset that comes with understanding the tax advantages.
  15. Being inspired by the achievements of others can lead to personal growth and success. Surrounding yourself with successful individuals can increase your chances of finding more success and happiness in your own life.
  16. Successful individuals possess grit, resourcefulness, and a willingness to explore unconventional approaches. They prioritize networking, continuously broaden their knowledge, and seek out diverse perspectives for personal growth and valuable insights.
  17. Bioelectricity, discovered by scientist Mike Levin, challenges the notion that genetics alone determine physical attributes. Recognizing the limitations of genetics and exploring alternative mechanisms can push scientific knowledge and spur innovation.
  18. Jess Mah is motivated by making a positive impact in the medical field, pushing boundaries through research and innovation, and taking risks to improve patient outcomes.
  19. Prioritizing passion and purpose over financial gain leads to greater innovation and the opportunity to make a meaningful difference in the world.

📝 Podcast Summary

Overcoming Setbacks and Achieving Success

Success comes to those who have the mindset of a successful person. Jessica Ma, the extraordinary entrepreneur featured in this episode, struggled in school and faced bullying. However, she didn't let these setbacks define her. Instead, she started a business as a teenager and made significant money. With persistence and determination, she entered the biotech industry, despite not having a background in science. Her story reminds us that the fear of failure should not deter us from pursuing our dreams of making a big impact. Additionally, Jessica's openness about her financial success shows that having a proactive and strategic approach to money can lead to a more fulfilling and empowered lifestyle.

Jess Mah: A Remarkable Entrepreneur with a Unique Approach

The person being discussed here, Jess Mah, is highly impressive and stands out in the field of entrepreneurship. This perception is based on various factors, starting with a friend's extreme compliment, describing her as the most impressive entrepreneur he has ever met. Furthermore, her nonchalant mention of being involved in bold science bets, like finding alternative methods to cure cancer, adds to her impressive image. Additionally, her personal hold co model, which focuses on big, game-changing ventures, aligns with current entrepreneurship trends. Overall, Jess Mah's ability to tackle hard problems and her unique approach make her a noteworthy and fascinating individual. This conversation aims to explore why she chooses to play this game and how she does it.

Jess Mah: From Entrepreneur to Investment Manager - Embracing Risks and Overcoming Failure

Jess Mah's journey as an entrepreneur has been marked by ups and downs, resilience, and a willingness to adapt to different roles. Despite feeling intimidated by the success of others, she built a successful financial SaaS company called Indenero, catering to renowned clients like Slack, Pinterest, DoorDash, and Coinbase. Rather than following the traditional path of raising venture capital, Jess maintained majority ownership of her business and ensured it remained profitable. However, she realized that being a CEO wasn't her ultimate goal and discovered the possibilities of becoming an investment manager, inspired by the diversified holdings of billionaires like Warren Buffett. This shift in mindset led her to explore new ventures and embrace the courage to take risks and overcome failure.

Confronting fears and embracing being a beginner in pursuing new endeavors.

It is important to have conversations with ourselves about our fears and insecurities when embarking on a new endeavor. Shaan Puri and Jess Mah both emphasize the need to confront the fear of failure and the discomfort of being a beginner in order to pursue something new. They highlight the importance of accepting that being a beginner is part of the process and that it is okay to start from scratch and learn over time. Setting realistic expectations and giving ourselves the freedom to make mistakes and grow is key. Just like Mois Ali, who knew nothing about deodorant but committed to learning everything he needed to know within six months, taking on new challenges requires embracing the willingness to become competent through learning and hard work.

Overcoming Insecurities and Limitations in Pursuit of Success

Success in a particular field or industry does not require initial genius or innate talent. Both Shaan Puri and Jess Mah share their experiences of struggling with biology and feeling intimidated by the challenges of biotechnology. However, they overcame their insecurities and limitations by seeking knowledge from experts, learning from others, and surrounding themselves with talented individuals. They demonstrate that success is achievable by putting in the effort to learn, adapt, and collaborate with smarter individuals who can contribute to their goals. This highlights the importance of continuous learning, seeking guidance from experts, and surrounding oneself with a supportive network. It reminds us that success is not limited to those who are naturally gifted or intellectually superior, but rather to those who are determined and willing to learn from others.

Aligning Actions with Desires for Fulfillment and Joy

It's important to align our actions with our true desires and passions, rather than solely focusing on monetary rewards. This conversation between Shaan Puri and Jess Mah highlights the significance of pursuing work that brings fulfillment and joy, even if it may not be the most financially lucrative option. It emphasizes the need to be honest with ourselves and identify what truly makes us happy. Waiting for the perfect circumstances or accumulating wealth without purpose can lead to a life filled with regret and unfulfilled dreams. It's crucial to seize the opportunities to create and manifest the things we want in the world, rather than allowing time to slip away and leaving our aspirations unturned. Taking risks and prioritizing our true desires is ultimately less risky than denying ourselves the fulfillment we truly desire.

Overcoming Roadblocks to Achieve Your Goals

Waiting can actually hinder our progress towards our goals. When we wait, we let other activities, responsibilities, and thoughts fill up the space, preventing us from taking action on what we truly want. It's important to be honest and transparent about our aspirations, even if they don't align with our current situation. By being open, we give ourselves the opportunity to explore new avenues and possibilities. Resourcefulness is the key to achieving our desires. Instead of focusing on what we lack, such as time, skills, or money, we should prioritize our ability to find and utilize the resources we need. With determination and charm, we can attain anything we want by being proactive and seizing opportunities.

Embracing Innovation for an Incredible Future

We have the potential to shape our future in ways we might not have imagined before. The concept of a manifestation studio, as discussed by Jess Mah, emphasizes the importance of hiring experts and raising funds to bring our ideas to life. It shows that limitations such as time and money can be overcome by approaching challenges from a different perspective. Additionally, bold science offers hope for advancements that go beyond incremental improvements. Jess Mah's focus on tackling root causes, rather than simply treating symptoms, opens up the possibility for groundbreaking discoveries in fields like cancer research. This conversation highlights the potential for test tube babies, extending lifespans, and redefining our understanding of how diseases like cancer can be addressed. It urges us to embrace innovation and plan for a future that holds incredible possibilities.

The value of face-to-face meetings in business and relationship-building.

Meeting face-to-face and putting in the effort to travel and have personal interactions is incredibly valuable in business and forming relationships. Jess Mah emphasizes the importance of going the extra mile, even if it means flying to meet someone or taking a different approach to connect with influential individuals. This level of commitment leaves a lasting impression and shows genuine interest in building trust and deepening relationships. Virtual meetings may have their benefits, but they simply cannot match the impact of meeting "belly to belly" in person. The difference in engagement and connection is significant, with personal meetings scoring a perfect 10 out of 10, compared to a mere 1 for a zoom call. Despite any success already achieved, investing in face-to-face meetings remains highly beneficial and should not be underestimated.

Learning from the Success of Others

It's important to have the curiosity and drive to learn from successful people. Jess Mah's experience of cold emailing successful individuals as a teenager showcases the power of reaching out to experts and learning from them firsthand. By being humble, admitting her lack of knowledge, and showing a genuine interest in their work, she was able to gather valuable insights and even spend time with them. This highlights the importance of being proactive in seeking out opportunities to learn from experts in any field. Additionally, the conversation between Jess and Shaan demonstrates the significance of being able to identify and evaluate talent. Being able to spot the difference between good, great, and the best can greatly impact one's entrepreneurial or investment success.

Thinking Differently: The Success Mindset of Entrepreneurs

Successful individuals in entrepreneurship think differently than most people. They approach life and business in unconventional ways, embracing a mindset focused on mindset and psychology rather than tactics. It's about realizing that age and financial resources don't have to be barriers to starting and succeeding in business. Another key point is the importance of tax optimization. Successful and wealthy individuals prioritize finding and working with the best tax strategists to minimize their tax liabilities. They understand that reducing their tax burden can significantly impact their ability to grow wealth through compounding. Instead of sticking with one tax accountant, they seek advice from multiple professionals to maximize their savings. It's a mindset shift that can have a substantial financial impact.

The Importance of Seeking Multiple Opinions and Expertise

It is crucial to seek multiple opinions and expertise when making important decisions, whether it be in business, taxes, or personal well-being. Relying on just one person or not considering different specialties can lead to limited perspectives and inadequate solutions. It is important to continuously seek fresh ideas and advice from professionals who truly understand the specific areas you are dealing with. Additionally, investing time in understanding and optimizing your biggest expenses, like taxes, can yield significant financial benefits in the long run. Prioritizing your mental and physical health, through coaching, networking, and personalized health plans, can also greatly contribute to your overall success and well-being.

Exploring Methods to Improve Longevity and Well-being: Personal Experiences and Cautionary Notes

There are various methods and supplements available that claim to improve longevity and overall well-being. While the effectiveness of these methods is not scientifically proven, individuals like Jess Mah are investing in them and experiencing personal benefits. Some notable practices include exosome IVs, which aim to lower one's biological age and improve energy levels, as well as personalized supplement regimens from compounding pharmacies. However, it is crucial to approach these methods with caution and consult medical professionals. As this field is relatively new, there is a lack of standardized approaches, and many companies exploit the demand by marking up prices. Exploring the potential benefits of these practices and seeking personalized advice may be worthwhile, but their true impact remains uncertain.

The Tax Advantages of Buying Expensive Assets: A Billionaire's Mindset

Billionaires have a different mindset when it comes to buying expensive things. They understand that certain purchases, like yachts, planes, and exotic cars, can actually be used as tax write-offs. For example, some billionaires buy yachts and charter them out, saving more money on taxes than what they spend on the yacht itself. Additionally, people who buy luxury cars often sell them later for the same or even higher cost, as the value of these rare assets tends to hold. By leveraging these strategies, billionaires not only enjoy the benefits of these extravagant purchases but also gain tax advantages and asset appreciation. While some may see this as unfair, it is an advantage that comes with having a different mindset and understanding the tax system.

Learning from successful people and their mindset

Learning from successful people and their mindset can be incredibly valuable. It's easy to feel bitter or jealous when seeing others succeed, but we have a choice in how we react. Being inspired by their achievements can lead us on a path of growth and success. Surrounding ourselves with successful individuals can be seen as a positive sign that more success and happiness is coming our way. It's important to focus on education and improvement, rather than dwelling on envy. Opening ourselves up to learning from others who have achieved great things can make their knowledge and experiences more accessible and relatable.

Characteristics and Habits of Successful People

Successful people share certain personality traits and behaviors. They exhibit grit and resourcefulness, being willing to try unconventional approaches and collect ideas from different fields. They also prioritize meeting the right people, asking the right questions, and going to great lengths to connect with them. Additionally, they strive to make themselves interesting and knowledgeable in various subjects, broadening their field of expertise. This helps them become valuable advisors and individuals that others want to spend time with. Learning about diverse topics outside of their industry can lead to new perspectives and insights. Attending conferences or events outside of one's usual bubble can provide fresh insights and connections.

Bioelectricity: Challenging Our Understanding of Genetics

There are new frontiers in scientific research and innovation that challenge our traditional understanding of genetics. The concept of bioelectricity, as discovered by scientist Mike Levin, suggests that it plays a crucial role in determining various biological outcomes, such as limb formation and lifespan. This breakthrough challenges the notion that genetics alone dictate our physical attributes and health. Astonishing Labs, Jess Mah's venture, aims to commercialize this groundbreaking research and bring it to the forefront of biotech. The potential for manipulating bioelectricity opens up exciting possibilities for future advancements in medicine and human biology. By recognizing the limitations of genetics and exploring alternative biological mechanisms, we can push the boundaries of scientific knowledge and spur innovation in unexpected areas.

Building Companies to Address Medical Challenges

Jess Mah is building multiple companies under her holding company that focus on addressing significant medical challenges. One company aims to develop solutions for drug resistance, particularly for patients with leukemia or undergoing chemotherapy. The goal is to extend the effectiveness of these drugs and provide viable options for patients when they stop working. Another company called AnthroBot is working on creating gramable human bio boxes. Additionally, Jess envisions a future where it is possible to grow a baby using raw genetic material without the need for traditional reproductive methods. She is interested in supporting and funding research in this field to push the boundaries of what is possible. Ultimately, Jess is driven by a mission-oriented approach and a desire to make a positive impact, even if it means taking risks.

Shifting the Focus: From Profits to Impact

The focus should be on building great products and advancing research, rather than solely on making money. This mindset allows for more innovation and the potential to make a positive impact on the world. While the desire for financial security is understandable, it should not be the sole driving force behind our actions. Instead, we should pursue projects and endeavors that excite us, challenge us, and have the potential to bring about meaningful change. By prioritizing what is fun, interesting, and inspiring, we can make a bigger difference and find true fulfillment in our work. So, let's shift our focus from maximizing profits to making a real impact.