Where you live affects how you think.
New York: AUM, fees & commissions. Your friends work at funds, your rich neighbor is a hedge fund founder, and the other parents at school are bankers.
Texas & Florida: Real economy & business ownership. My network in FL consists of real estate developers, solo tech-entrepreneurs, and business owners.
While New York is the world's finance hub, the lower-middle market is refreshingly non-NY. Dallas is the epicenter for LMM finance (good capital access, several big conferences, huge # of SMBs in Texas).
Marc Cabrera (whose track record as a part-time independent sponsor includes 4 exits; all netting >10x MOIC!) talks about how his mindset shifted when he moved from NY (advisory) to FL (ownership).
New episode every Wednesday of the Minds Capital Podcast.
