Digital Social Hour
The $10M Crypto Mistake That Changed Everything (Loss Aversion) | David Shands DSH #992
Wed, 18 Dec
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💰 $10M crypto mistake that changed everything! 😱 Tune in as Sean Kelly sits down with David Shands to unpack a jaw-dropping story of loss and redemption in the world of cryptocurrency. 🚀 David reveals how he lost a staggering $10 million in crypto and shares the valuable lessons he learned along the way. From sports cards to altcoins, discover the rollercoaster ride of high-stakes investing and the importance of managing risk. 🎙️ This episode of Digital Social Hour is packed with insider insights on: • Overcoming massive financial setbacks • Building sustainable businesses in the podcasting world • The power of community and networking events • Balancing entrepreneurship with personal life Don't miss out on David's candid advice for aspiring entrepreneurs and his journey to building one of the best podcast conferences in the world! 🌟 Watch now and subscribe for more eye-opening stories on the Digital Social Hour with Sean Kelly! 🔔 Hit that subscribe button and join the conversation in the comments below. 👇 #DigitalSocialHour #SeanKelly #Cryptocurrency #Entrepreneurship #PodcastingTips #LossAversion #FinancialMistakes #CryptoInvesting #socialmediamarketing #onlinecommunity #developmentaldisability #gamedevcommunitybuilding #thepowerofcommunity CHAPTERS: 00:00 - Intro 01:40 - How to Get Good Fast: Tips for Improvement 03:20 - Sponsored by BetterHelp: Mental Health Support 05:00 - Losing $10,000,000 in Crypto: Lessons Learned 06:30 - Losing It All on Sports Cards: Investment Risks 09:58 - How to Build a Sustainable Business: Key Strategies 11:39 - Business Opportunities Adam is Excited About: Trends to Watch 13:35 - Why Every Entrepreneur Needs a Podcast: Building Authority 17:35 - Why Most People Quit: Overcoming Challenges 20:33 - Travel Hacks: Tips for Efficient Travel 23:12 - Buy Status: Understanding Social Signals 25:00 - Iconic Entrepreneur Conference: Networking Opportunities 26:20 - The Importance of Your Circle: Building Relationships 30:03 - The Importance of Having a Supportive Partner: Personal Growth 31:40 - Where to Find David and His Events: Staying Connected 33:54 - OUTRO APPLY TO BE ON THE PODCAST: https://www.digitalsocialhour.com/application BUSINESS INQUIRIES/SPONSORS: [email protected] GUEST: David Shands https://www.instagram.com/dshands/ https://www.instagram.com/sleepis4suckers/ https://www.davidneversleeps.com/ SPONSORS: BetterHelp: https://www.betterhelp.com/DSH LISTEN ON: Apple Podcasts: https://podcasts.apple.com/us/podcast/digital-social-hour/id1676846015 Spotify: https://open.spotify.com/show/5Jn7LXarRlI8Hc0GtTn759 Sean Kelly Instagram: https://www.instagram.com/seanmikekelly/ Learn more about your ad choices. Visit podcastchoices.com/adchoices
Chapter 1: What is the $10M crypto mistake?
Chapter 2: What lessons did David learn from losing $10 million?
Yeah, but I've been building a community around me, period. But I've been doing in-person entrepreneurship workshops since like 2013 or 14. Wow.
Chapter 3: How did sports card investments lead to financial loss?
All right, guys, finally made it happen. From Atlanta, David Shands. We're here. One of the first podcasters I studied. So thanks for coming on, man. Yeah, you were a pioneer in the space, I'd say. Thank you, brother. Thank you. I appreciate it, man. I've seen your work and you're outworking every single podcaster in the world. This is incredible. And that's a nice studio, too. Thanks, dude.
Nothing like your 750K studio, but...
Chapter 4: What strategies help in building a sustainable business?
Yeah, yeah. But I mean, shoot, you're doing your thing, man. So super proud of you, brother. 2017, 18. 18, so yeah, six, seven years. So I made up for that time with reps. So 100%.
Chapter 5: Why is podcasting essential for entrepreneurs?
Yeah. So you're pretty good at this. A thousand episodes in now, so it makes up for, because a lot of people only film one a week, but it's hard to get good fast if you're only doing one a week. How many do you do? We're releasing two a week now. Two a week? We're already doing like five a week, but we're doing about two a week now.
And you got a couple shows now, right? You got a, what's the other one you just started? Social Proof and Hot Seat. Hot Seat, yeah. Yeah, that's my baby. Hot Seat's a fun one, right? Yeah, man. I feel like that can inspire a lot of people, that show.
Yeah, it's different too, man. So when I started, nobody was interviewing your average successful person from around your way in 2018. Interviews were kind of reserved for athletes or celebrities or breakfast club, things of that nature, Oprah. Nobody was like really, I don't want to say nobody, but a lot of people weren't just interviewing their friends. And it was just a unique thing.
So, you know, I'm getting all these people and we're getting this traffic. But now I notice that the same people that are on my podcast are like jumping around to other podcasts, which is what they're supposed to do. Right. But it's only so many story you have after you do seven interviews. Right. So, yeah.
I think what you're doing with the reps is you're probably finding questions that hopefully they're not being asked. But now that everyone's interviewing successful people, I thought to myself, well, I'm going to start interviewing unsuccessful people, people who haven't won. And I cook them for like an hour on the hot seat. And it's just fun. It's unique.
And you're not going to find it everywhere. No, it reminds me of that one guy, Caleb Hammer. Oh, I love Caleb. Financial audit. After I did it, I found Caleb. And I'm like, yo, he's killing it. Where's he out of, you know? I don't know, actually. If I had to guess, Caleb is not an LA guy, though. I want to meet him. I want to meet him, too.
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Chapter 6: How can networking events benefit entrepreneurs?
Chapter 7: What mindset is needed for overcoming financial setbacks?
And you're not going to find it everywhere. No, it reminds me of that one guy, Caleb Hammer. Oh, I love Caleb. Financial audit. After I did it, I found Caleb. And I'm like, yo, he's killing it. Where's he out of, you know? I don't know, actually. If I had to guess, Caleb is not an LA guy, though. I want to meet him. I want to meet him, too.
I wanted to go on the show because I've had some wild financial stories. Really? Tell me one. Lost $10 million. You lost $10 million? $10 million. How do you lose $10 million? Crypto. Yeah, I got wrecked. All in like a few month period too. What period was this? This was the last bull run, which was when I first moved here, I think. So 2021, I think around then. You had $10 million in crypto?
Yeah. But it didn't go to zero. It's pretty much zero, yeah. Because they were in altcoins.
crypto I and I associate crypto at Bitcoin but so all the altcoins yeah so crypto encompasses every coin but you didn't have Bitcoin I did I still have Bitcoin in a theorem but I had 10 million in altcoins which is like that you never heard of yeah so those are really volatile because they're not as stable as Bitcoin and ethereum wow yeah so I got wiped how'd you feel
Pretty lost for a few months. It was right before I started the show, actually, I think. Or like the year before, yeah. So podcasting helped me get out of that funk, to be honest. Wow. I've never lost that type of money. However, we do see these stories of people who do lose lots of money, and they end it all. Damn. I have heard those, yeah.
Yeah, like these people that are like super successful, and they lose a bunch of money, but they're still like... like millionaires, but they like jump off a bridge and stuff like that. I never got to that point, but I could see if you have like a family, like definitely the stakes are higher. And if you lose it all with kids, it's definitely like tougher, you know?
But so what was your mindset like?
This episode of Digital Social Hour is brought to you by BetterHelp. Making it easy and affordable to access online therapy, give it a try at betterhelp.com slash DSH and get on your way to being your best self. The holidays are a tricky time of the year for a lot of people, and I like to stay cozy and warm at home with my favorite movies and a warm blanket and also some BetterHelp.
With a lot of time to reflect during the winter months, therapy is a great way to embrace what's on our mind and find comfort that doesn't leave us even as the holidays fade away.
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