Dan Fleischman · Moneywise · He's Worth $50M and Spends $110K a Month on a Zoo That Makes $0
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Runs Elevator Studio syndicate that raises $3-$6 M per deal, takes 20% carry on profits but skips the typical 2% management fee
$56 M raised across 18 companies, 20% carry, 2% fee avoided (~$1 M/yr saved)
“He explained that becoming a minority or passive owner in an asset management firm, a GP, has three distinct benefits… management fee typically around 2% per year… firm typically gets 20% of the profits.”
“The typical recommended business had about 124 Google reviews. The typical skipped business had about 128.”
“We take 2% fee on the money that we manage.”
“After you figure out the fees, because this carries fees, and after you figure out the extra risk ... you might be just as well off owning ETFs”
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