The Profile: Asia’s richest man who lost $100 billion & the private equity-owned toddler gyms
The Profile: Asia’s richest man who lost $100 billion & the private equity-owned toddler gymsThis week's edition of The Profile features Gautam Adani, Nims Purja, Chrishell Stause, and more.Good morning, friends! Today, I want to share a crazy story of how a spiritual adviser (colloquially referred to as a “psychic”) predicted I would leave my job and write a book. In 2015, I was 24 years old and working at Fortune magazine. I was writing an article about corporate “intuitive counselors” — some charging as much as $10,000 per month — that advise CEOs and high-profile business clients. (You can read the full story here.)
Though I, personally, had never sought out the services of a spiritual adviser, it was a fun story to report, and it gave a fascinating glimpse into a world I knew nothing about. The interview process offered surprise after surprise. One astrologer whose clients include high-level execs at Google told me, “I think people would be astounded at the amount of entrepreneurs that consult people like me. Any entrepreneur that has been hugely successful either has a very well-developed intuition of their own, or consults people who do.” At the time, I interviewed Colette Baron-Reid, who described herself as “an intuitive counselor.” Considered one of the leading practitioners in her unusual field, Colette says her clients include top executives in the real estate, energy, and entertainment industries. Imagine Entertainment co-founder Brian Grazer included Colette in his book, A Curious Mind, which profiles leaders in various fields. This all happened 8 years ago. Fast forward to last week when I was searching for something in my email, and I accidentally came across the recording of the interview I did with Colette back in 2015. After listening to the interview, it was abundantly clear how skeptical I was of her profession. At the end, she asked me if she could do “a reading” for me. I agreed so long as I could potentially use it as material in the article. As any bright-eyed, eager, anxious-about-the-future 24-year-old, I asked her what she could tell me about my career. Listening back to it eight years later, it’s chilling. But at the time, I thought she was unbelievably off-base. I had just gotten my dream job at a prestigious business magazine, where I thought I would stay for the rest of my life. Having recently left a dysfunctional startup environment, I loved corporate life. So when she said, “You’re not a corporate girl,” you can judge for yourself what I was thinking from my awkward laugh and the tone of my “interesting…” (I say “interesting” a total of 7 times.) With Colette’s permission, I’ve published an audio snippet of that reading below:
Beyond the fact that she accurately senses that I would start working on “another body of work” while still at my job (The Profile) and that I would eventually write a book (Hidden Genius), the part that struck me most wasn’t any sort of ‘prediction.’ It was this:
I wonder just how many entrepreneurs, CEOs, and regular people seek out spiritual counselors like Colette for this very reason: It’s an affirmation of your identity. It’s the validation of things you already know but need an external push to pursue. It’s needing someone to tell you “trust your voice” until you look back at that fearful 24-year-old and think, “Damn. I wish it hadn’t taken me eight years to trust my own voice and pursue my dreams.” — LYCEUM MIAMI: Our team is hosting LYCEUM | Miami, a one-day summit on March 4th in Miami Beach. It will feature smart conversations with speakers across industries, including finance, tech, sports, science, and entertainment. The speaker lineup includes investing legend Cathie Wood, NYT bestselling author Vivek Ramaswamy, Modern Wisdom podcast host Chris Williamson, and many more. Profile readers will receive an exclusive 40% discount on VIP and Insider Pass tickets with code PROFILE40. General Admission tickets are free of charge. Spots are limited so head to lyceummiami.com to buy your ticket today. PROFILES.— Asia’s richest man who lost $100 billion [**HIGHLY RECOMMEND**] PEOPLE TO KNOW.Asia’s richest man who lost $100 billion: Hindenburg Research is a firm that exposes accounting discrepancies and alleged wrongdoing in scathing reports — all with the goal of nudging investors to sell. So when it accused billionaire Gautam Adani, often referred to as “Asia’s wealthiest man,” of running “the largest con in corporate history,” it caused the total market value of a group of Adani-related companies to fall more than $90 billion. I live for journalism like this. A must-read. (Bloomberg; reply to this email if you can’t access the article) “Adani has been telling the world that Adani is India and India is Adani. This is bullshit.” The controversial king of hardcore climbing: After scaling the 14 'death zone' peaks in record time, Nepali-born climber Nims Purja has emerged as a powerful champion of the country’s Sherpa guides. He’s also become the first celebrity mountaineer of the social media age—and the most controversial figure in the global climbing community. His next act? Launch a company to upend the old paradigms of the Himalayan guiding industry. (GQ; reply to this email if you can’t access the article) “It’s a lot. Nims is a lot. But his hustle and bravado are precisely the things that have allowed him to break into the mainstream.” The billionaire’s son fighting for the future of pro wrestling: For four years, Khan’s All Elite Wrestling LLC, or AEW, has operated as an upstart rival to World Wrestling Entertainment, deploying its own brand of predetermined mayhem to convert die-hard fans and seduce onetime viewers for whom WWE had become just another PG-rated borefest. Tony Khan’s formula? More blood spilled, more folding chairs smashed, more swearing, and more nuanced storylines. Khan is the most well-funded benefactor in decades to take on the WWE hegemony. His father is Shahid Khan, the Pakistani-American owner of the Jacksonville Jaguar. When Tony told his father he was going to hatch a WWE competitor, his father’s reaction: Are you nuts? (Bloomberg; reply to this email if you can’t access the article) “I couldn’t have walked in and started a department like this had I not been my father’s son.” The most unlikely couple: ‘Selling Sunset’ star Chrishell Stause always had a thing for drummers. But when she fell for Australian non-binary musician G Flip, born Georgia Flipo, Stause surprised viewers, fans and even herself. In this exclusive, the couple tell their story for the first time. (Vogue) “It was really stressing me out because I was falling in love with G, but we were both playing it kind of cool.” COMPANIES TO WATCH.The private equity-owned toddler gyms: Private equity has notched decades of high returns for investors by following a well-worn strategy: acquire distressed or undervalued companies or real estate, increase profits, and then sell them. Greatest hits include foreclosed homes, highway rest stops and coal mines bought out of bankruptcy. What happens when they begin eyeing toddler gyms? (The New York Times) “You can’t treat every business the same. And that’s really what’s causing all of this strife.” ✨ The rest of this newsletter is only available for premium members of The Profile. Their support makes this work possible. If you’re not already a premium member, consider upgrading your subscription below for access to an additional section of weekly audio + video recommendations. ✨... Keep reading with a 7-day free trialSubscribe to The Profile to keep reading this post and get 7 days of free access to the full post archives. A subscription gets you:
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