CASH-FLOW

Revenue is vanity, profit is sanity, cash flow is reality.

We grew to 400 employees and then ran out of money overnight. I mean literally overnight. One day we were operating, the next day I had to tell 400 people they no longer had jobs.

Financial freedom is not a number. It is the moment your rental income exceeds your living expenses. After that, work becomes optional. That is the whole game.

I do not want equity in your startup. I want cash flow from a building that is already full of other people's stuff.

I do not care about reported earnings. I care about after-tax cash flow. Everything else is accounting fiction.

Cash flow is not sexy. It's not a viral tweet. It's just money showing up in your account every month. That's real wealth.

Infrastructure assets have a unique quality: they generate cash regardless of what the stock market is doing. That consistency is not boring — it is the point.

The broadband business is as good as any business I have ever seen. Predictable cash flows, pricing power, and genuine barriers to entry.

Cash is king. At the end of the day, what matters is the cash that flows into and out of the business. Everything else can be managed on paper.

All assets eventually follow the laws of gravity. The only thing that matters to investors at the end of the day, and this has been true for millennia, is cash flow.