Wednesday, December 17, 2014

Brothers Do Crazy Things!

My brother and I never had a great relationship. There was no big fight that pushed us apart but over the years as colleges, jobs, and geographic locations separated us, our relationship became distant. I know from others that this is not unique.   

About 13 years ago I sent an email to my brother that changed everything. The email was simple and was a direct result of the 9/11 terrorist attacks on NYC - "I am running the LA marathon. Will you run with me?" His response was also simple - "I'm in!" The rest of the story is one of a deep brotherhood bond that has taken us to the depths of the Grand Canyon, across 100 mile ultra-marathon runs, to the tops of mountains, and to family gatherings with more to talk about then just the weather. 

We just finished writing a book about the crazy events we have done together and the changes it made in our lives. The point we wanted to make in the book is that just saying YES is all it took for us and if you take YOUR TURN and JUST SAY YES great things will happen.

Download our book here:

Your Turn on iBooks
Your Turn on Amazon

All the profits go to IM ABLE Foundation, an awesome charity that helps disabled kids have a turn at sports and a better life. 


Kids & Sports

Every time I speak to a parent about their child's participation in team sports, I hear a story about the kid being prepared to become a professional athlete. I think it's crazy.  
  1. The probability of getting there is practically non-existent.  
  2. Does anyone really want their kids to dedicate that much of their lives to become an Olympic athlete in today's world? Just look at Michael Phelps.  His life hasn't exactly been the one I am imagining for my kids and I won't even start with Bruce Jenner and his clan.  
For children sports should be about learning how to work as a team, perseverance and staying physically active. It does not need to be a lesson in parent competitiveness, economics, marketing, market share, and legal positions. 

Current situation is crazy and in need of fixing or we will end up with burnt out, jaded kids running the country in the future. 

Would love to hear any ideas on how to fix this societal problem. Please share.

Tuesday, August 12, 2014

Live Life Outside of Your Comfort Zone

“Two roads diverged in a wood and I – I took the one less traveled by.” – Robert Frost



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Every year I personally pick a seemingly impossible athletic endeavor to attempt.  This year the event was a run from one rim of the Grand Canyon to the other … and then back again ... in one day ... in August!  Earlier this week my brother Michael and I attempted this arduous task, and here is the story.

First need to set the stage.  As with every challenge, Mike and I thought long and hard about what event we could attempt.  After some crazy ideas we agreed on the Grand Canyon Rim to Rim to Rim challenge.  To add yet another level of difficulty, we scheduled our run for August.  Everyone I know that has hiked in the Grand Canyon said the same thing: "you are crazy to attempt this,” which only pushed us harder to make it happen.

When I landed in Phoenix a few days before the event it was 107 degrees.  I was concerned that all the advice to NOT do it may have been right. But when we reached the South Rim of the Grand Canyon on Sunday afternoon we spoke to this nice old woman in the gift shop told her what we were attempting.  She was the first person who actually did not call us crazy and gave some words of advice and encouragement.  This 80 something year old woman was an encouraging voice I used in my head for many hours the next day to keep me going.


“A journey of a thousand miles must begin with a single step.” – Lao Tzu

So with Ms. Gift Shop’s approval and advice we started out on the Kaibab Trail at 4 am the next morning.  We not only beat the mules, but we didn't see anyone until at least 3 hours into our trek.  We ran down a steep 4.5 mile trail mostly in dark.  We witnessed an inspiring sunrise around 5:40 am when we were almost at the base of the Canyon.

From there we crossed the Colorado River, filled up our water pouches, and headed onto the 8.5-mile rolling trailing along the base of the Canyon.  It was about 7 am so temperatures were still pretty decent for us to make good running progress.
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By 8 am we were starting the ascent up the northern rim, a 6.5 mile steep, slow climb.  The beginning part wasn't too bad and we made good progress, but by the last 1,000 vertical feet I was feeling the 7,000’ plus altitude.  Our progress slowed considerably.  That last few miles took what seemed like forever.  It even had me thinking that the I should stop on the North Rim and take the shuttle bus back the 220 miles.
Once we made it up to the top of the North Rim we had a chance to get some fluids and food.  I started to feel better and focused on the task at hand.  As we watched in the distance the mules were being prepped for a walk down the trail.  It was decision time. We had 3 minutes to get going or be blocked by the mules for the next hour.  We made the call to GO.

The run down the 6.5 mile trail was easy and felt great.  What had taken us 5 hours to climb took just over an hour to descend. Feeling great as we exited the North Kaibab Trail we were now cruising along the connector trail again.  It would be another 8 miles to Phantom Ranch.  The start was good and we really didn't feel the 100 degree temperatures all that much.  But I ran out of water 1 hour in and immediately started feeling it.  Every shaded area felt like a swimming pool, and every time we left the shade it was like being thrown back into the fire.  We pushed on for another hour until we finally reached Phantom Ranch.  We joked so many times that it must have been a vanishing ranch while we marched slowly towards it.  Once we hit it I filled my water pack and guzzled down 2 full liters in a matter of seconds. I felt like I was back in college at a fraternity party.

I would find out very soon that I had made a huge mistake by not filling up my water pack from the river as soon as I ran out. It was only 50 yards away from me for the whole 8 miles, and I had a purification system.  I just kept running towards the ranch in anticipation.  This would turn into a very big problem later in the day.
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Onward we went moving from Phantom Ranch to the base of Bright Angel Trail. Now we had a 8.5 mile trek up the South Rim to the end.  The start was fine running along what I guess is a 200 million year old beach along the Colorado river.  Within about 1 mile or so the chugging and prior dehydration caught up with me and started the stomach problems that would make the next few hours hell.  Not being able to keep down drinks and food on a long run is the worst thing that can happen to you. Even muscle pain can be worked through.  But without food and hydration a run in the desert is deadly.

As we trekked up the remaining 6 miles on the trail I started taking all the warnings to heart. The Grand Canyon can kill.  Don't do it.  August is crazy, etc, etc.  It was in my head from mile 38 to 40 that I was not only going to not finish but was going to be one of those helicopter rescues we read about in the papers.  I had never needed emergency help in a race before, but this time I thought I did.  Slowly and with the able assistance of my brother - who was doing sprints up and down the mountain at this point - I made it to the ranger station at Indian Gardens (4.5 miles from the finish).

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“Tourists don’t know where they’ve been, travelers don’t know where they’re going.” –Paul Theroux

The ranger was the most mellow guy I ever met, and at that point my savior.  I sat on the deck of his office (one of the best views in the world) and answered his questions as he probed to see how bad I really was.  After a little conversation he gets up and brings me a glass of strong electrolyte replacement drink, tells me to take a nap, wait for the temperatures to cool in the evening, and then start back up again.

That was exactly what I needed to hear to get up that hill and finish this challenge.  Immediately, every single negative thought and comment that had been ringing through my head just moments before was erased and replaced with encouragement to succeed.   This made me think about my personal comments to others and whether I give them the positive reinforcement that they can succeed and make it happen or if my negative comments are ringing in their ears.

After nightfall, for 4.5 miles with my brother in front of me pushing/ pulling and encouraging as he often does for me and others, we moved onward to the finish line. Although it still took 3 more hours - with a number of rest breaks and short naps on the trail for me - we made it the trailhead that was our finish.  Best part of all unbenounced to me, my brother had been able to get cell service just below the trailhead and messaged my father to meet us at the finish.  So when we rounded the finish, to my surprise once again our dad was there to support us as we finished completely depleted after 21 hours in the hot Grand Canyon.

“The truth is that our finest moments are most likely to occur when we are feeling deeply uncomfortable, unhappy, or unfulfilled. For it is only in such moments, propelled by our discomfort that we are likely to step out of our ruts and start searching for different ways or truer answers.”
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I am thankful to all the people that gave me the wise advice not to attempt this challenge.  They were right and that what we did was extremely dangerous.  Most of the time the consensus point of view is correct and should be heeded. BUT I have made it a point in my life to never follow the road most travelled, and don't follow the consensus.  I do try to succeed where I should fail.  Part of the reason I attempt the event was due to warnings I had heard.  It’s the way I am motivated.

The other thanks goes out to the casual believers.  With just a few words they gave us the encouragement and the fortitude to make this happen.  As always special thanks to my family especially Dad who always somehow appears at those dark trailheads. He was a bright angel at the end of Bright Angel trail!

Remember to encourage others to get out of their comfort zone and make things happen!


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Tuesday, July 8, 2014

Today's Dreams Motivate Our Children's Future

“Every great dream begins with a dreamer.  Always remember, you have within you the strength, the patience, and the passion to reach for the stars to change the world.” - Harriet Tubman

I recently started working with a social entrepreneur whose team is doing awesome things in the education space through an organization called The Future Project.  -  http://www.thefutureproject.org/  Unlike other educational solutions, they are not trying to reform education; they are revolutionizing education.

The approach is actually pretty simple.  Extracurricular school activities used to provide the extra motivation that helped and encouraged students to focus on their schoolwork. They got to participate in activities they could choose outside of their required classes, which made doing their required work more tolerable and even provided a framework for its usefulness.  Since in many inner-city schools extracurricular school activities have been cut by budget constraints, these incentives are a memory of the past.  The Future Project has now created a new and improved twist on extinct extracurriculars.  

“Education is not the filling of a pail, but the lighting of a fire.” - William Butler Yeats

The Future Project places one staff member in each school as a Dream Director (DD). The DD helps the kids come up with ideas, projects, and/or events that they are passionate about and would like to see happen in the school. The DD then puts kids together in teams and guides them in making their dream projects happen.  The ideas do not have to be complicated or expensive, and most are not.  When the kids find something they are passionate about, whatever it may be, they are more engaged in school and build self-confidence.  


I always thought that education was about teaching people to fish so that they would be able to provide for themselves.  What I was missing is that if they have no hopes and dreams, they are never going to yearn to learn. The Future Projects is changing our world.

I am working with the founder of The Future Project to find ways to scale this into every school in the US and then the world.  Please share your thoughts and ideas.

“Passion is energy. Feel the power that comes from focusing on what excites you.” - Oprah Winfrey

Thursday, June 5, 2014

Investing in a Flat World

“The ideal country in a flat world is the one with no natural resources, because countries with no natural resources tend to dig inside themselves. They try to tap the energy, entrepreneurship, creativity, and intelligence of their own people-men and women-rather than drill an oil well.” - Thomas Friedman

One of my favorite books is The World is Flat by Thomas Friedman.  When it was released 10 years ago it introduced the revolutionary idea that location doesn’t matter much anymore since communications and freight costs continue to go down while their speeds increase. So much for my real estate mantra and model “location, location, location”. This was the start of some radical new world thinking.

Since the economy tanked in 2008 and brought real estate values to all time lows, my firm has been investing in distressed real estate. Under the flat world effect, the rest of the world’s real estate markets followed suit shortly thereafter.  However, many countries in Europe did not take steps to rebound as quickly as the US, which has created many opportunities to buy assets at significant discounts to other countries. As a result, we now evaluate our new business opportunities by comparing current real estate values in the US to those of other continents, not necessarily to historic levels in the local market.

The flat world effect is also leading my investments to Brazil.  Last year my company brought American investors to Brazilian real estate deals.  Now we are focused on bringing money from Brazil to projects in the US, mainly due to a concern that their currency will be affected more by the US Feds’ eventual de-levering.

The manufacturing sector, which has not been a strength of the US for many years, has been more important to my firm recently. There is recent optimism due to very low fuel costs in the US (thanks in part to fracking) and a lower cost of labor due to extended unemployment. This effect has helped create more decent jobs in the US, thereby helping us rent apartments in the midwest and other places in the US other than the metropolitan hubs of NYC and San Francisco.

Some pretty amazing changes have taken place in the world since Friedman originally started the focus over 10 years ago. How has it affected you?

Wednesday, April 30, 2014

Negotiation Wisdom from Dr. Henry Kissinger

"The task of the leader is to get his people from where they are to where they have not been."  - Dr. Henry Kissinger

Last week I was fortunate to be part of a conversation between Dr. Henry Kissinger and Rabbi Peter Rubinstein. Dr. Kissinger shared his insight and knowledge that he acquired during his long and esteemed career, which is still happening. 

I found Dr. Kissinger's comments on negotiation extremely interesting. Some of my favorite take-aways:
  • A great negotiator remembers history ... like the fact that Russia was founded in Kiev, and that Kiev remained Russian for hundreds of years.
  • A great negotiator understands the goals of his counterpart. Putin is rebuilding a broken empire with considerable approval from the Russian population.
  • Executive conference calls don't work.  Too many people expect their boss to win.
  • China thinks of itself as a thousand years old civilization, not a country. 
  • Never lose your temper or show that you are under time constraints.
  • Understand your opponents' mindset. Know what their end goal is.
  • The US tries to solve problems quickly.  China's leadership believes not all problems have solutions, but only lead to more problems. Therefore, China is in no hurry to take action. They just monitor how things develop over a few hundred years.

Thursday, April 3, 2014

Keep Moving Forward


One 97 degree day in July a few years ago, I ran a 24 hour relay race with my 85 year old great uncle. He has actually been the inspiration for me and my brother as we have embarked on many crazy endurance events. Once you get to know my uncle, you find out he’s not superhuman or really any different than everyone else. He just doesn't stop when others stop, rest when others rest, drink when others drink, or give up when others do. The difference between success and failure is just making the decision to make your own decision, not follow the crowd. Think about this next time you have a decision point. That is what makes success happen!

"If you can’t fly then run, if you can’t run then walk, if you can’t walk then crawl, but whatever you do you have to keep moving forward." - Martin Luther King, Jr.


Thursday, March 6, 2014

The Future of Regional and Community Banking

I thought this was a great overview of why and how community banks are essential to the financial stability and growth of America.     The Future of Regional and Community Banking

Wednesday, February 12, 2014

Angels in Africa

The next Silicon Valley is Lagos, Nigeria. You would probably never in a million years think the same as you tour (or just pass by) one of the poorest, dirtiest slums in the world.  But a great industry growing out of this seemingly dead-end blight is a creative, ambitious fleet of budding entrepreneurs.  

“In investing, what is comfortable is rarely profitable.” - Robert Arnott

I had the opportunity to visit with some of these trailblazers last year at the annual Techie Entrepreneurial Nigerian Talent (TENT) conference.  Their innovation and determination impressed me so much that I immediately lay down 1 million Nigerian Naira for my favorite top three start-ups...that is, once my call finally went through to my colleague and their mentor, Gbenga Sense, Founder and President of Paradigm Initiative Nigeria.  The industrious young Lagos adults I selected to invest with are developing technologies for medical diagnosis in rural areas, age verification based on voice, and collision avoidance for motor vehicles.  They do their work in between regular power outages, massive daily gridlock, and figuring out how to pay their next smartphone bills.

“Successful investing is anticipating the anticipations of others.” - John Maynard Keynes

In addition to the funding, we meet via Skype a few times a month so they can share ideas and strategies with each other, and get an American businessman’s perspective as well. I am grateful for what I have gained from their “sky-is-the-limit” attitudes and technological ingenuity.  I intend to apply their entrepreneurial spirit to my own business.

The world has great things to gain from the industrialism burgeoning in Lagos. I hope that more Westerners envision the same prosperity and invest with me.

“The best way to predict the future is to create it.” - Peter Drucker

Wednesday, January 15, 2014

The Race is Won at the Finish Line

TheAmerican job market has changed. One way that Americans are tackling the lack of jobs is by putting a huge amount of energy into start-ups. This can create opportunity for some massive companies like Google and Apple, but can also result in a huge waste of time and energy for many.  One of the funds I invest with was pitched by almost one company per day last month with ideas as diverse as a new sales platform to take-on eBay, a new tequila brand (just what the world needs), and a line of pocketbooks whose differentiating factor is that they come in different colors. Few will succeed; many will not.


Even so, with all of the companies that are started on an annual basis, the ones that don't become billion dollar opportunities still have relevance somewhere.  So much time is wasted by great people working on concepts that just won’t scale into the next Instagram. Many are good ideas but have a limited market opportunity. The startup world seems to have a done great job with promoting the concept of failing fast.  Thank goodness!


As the U.S. economy continues to change into a much more entrepreneurial model, there will be fast failures (great!) and there will be huge success (great!), and now there is a place to help the middle (great!)


Check out Upcelerator.com, and please forward this to friends that are stuck in the middle.