Emil Barr - Entrepreneur Joins Houston's Morning News

Episode Transcript

Speaker 1 (00:00):
So you say you want work life balance, you don't
want to be rich, then do you as most billionaires
how they got to be billionaires, and they will tell
you that they work their butts off. They didn't have
time for a whole much of anything else other than
doing what they do is they do. Emil Barr is
one of them. At twenty two years old, he's an

(00:21):
entrepreneur that has two companies worth over twenty million dollars.
How did you do it, a mil.

Speaker 2 (00:27):
Well, here's the thing. It was very hard to be
perfectly honest with you. And I think that that's okay.
We live in the richest country in the world with
the highest ever historical income for capita. So what I
argued in my opted was that in today's economy, it's
actually completely possible to reach financial freedom, even as early

(00:49):
as in your early twenties. But you can't do it
without being prepared to make extreme sacrifices.

Speaker 1 (00:56):
Right, But you're making sacrifices for unlimited amount of time.
Is as long as you're building these companies. Once those
companies become the network that they are, if you want
to retire, if you want to if you want to
have your social life if you want to go off
on vacation a whole bunch of places, then you can
just sell your company, right Yeah, I call it a.

Speaker 2 (01:16):
Front loading success. If you can save up ten million
dollars by the time you're twenty five, due to compounding interest,
you will retire a billionaire. Fact, if you can even
save up a million dollars by the time that you're
twenty five, or half a million dollars, you're still set
to retire with hundreds of millions of dollars by the
time you're sixty five, as long as you don't touch
that principle. So the idea is that to make these

(01:37):
sort of extreme sacrifices for four to five years while
you're young, before you have kids, before you have to
worry about potentially the rent bill, and really just focus
on creating as much financial independence as possible, because time
is actually one of your greatest superpowers when it comes
to making money.

Speaker 1 (01:53):
You strike me as being a whole lot more mature
than your average twenty two year old. Where did you
develop that maturity? Where did these ideas come from?

Speaker 2 (02:02):
I don't think that's necessarily true. I think it's that
through the sacrifices of having to build a business. I mean,
Elon Musk slept on factory floors. You know, Bezos lipped
off a dollar a day in his twenties. I think
that I had to make similar decisions to build my
business and then ultimately, you know, having to manage anywhere
from I think at our peak it was thirty or
forty employees at the same time. To make difficult decisions

(02:23):
just makes me seem perhaps a little bit more dated
than your typical college student.

Speaker 1 (02:28):
But you know, there's not a lot of Jeff Bezos
in the world. There's not a lot of Elon Musk
in the world. There's not a lot of views in
the world. Your average twenty two year old is out
there having a good time, you know, dating, going to parties,
you know, hanging at the frat house, you know, sleeping
ten hours a day. They don't have the ambition you
obviously have.

Speaker 2 (02:48):
I think a lot of people actually can do it.
Young people have so many superpowers, like being able to
natively use technology in AI. But often actually I think
it's our generations of session with mental health and work
life balance holding us back. So I think that working
hard should be celebrated. You know, you're being a productive
member of society rather than demonized and leave that to

(03:12):
the social media comments.

Speaker 1 (03:13):
What are your goals going forward? How long do you
want to keep doing what you're doing? How how much
wealth are you looking to accumulate? How many companies are
you looking to start?

Speaker 2 (03:21):
Well, I'd like to become a billionaire by thirty, so
I've got a little bit of time left to go.
And then really I want to focus on something I
call the extinction, which is this idea that you know
you're going to tell your grandkids about animals like polar
bears and elephants the way we talked about unicorns and
dragons today. So I don't necessarily plan on stopping anytime soon,
but I think the message is that I could, and

(03:43):
anyone can really buckle down and work really hard for
the next three, four or five years and perhaps not
develop an equivalent, but really develop this sense of financial freedom,
regardless of age or where they're at in their lives.

Speaker 1 (03:55):
Do you have any friends? Do you worry about having
friends with you?

Speaker 2 (03:59):
Okay, oh, I've actually made a lot of great friends.
I think through work, and then I think through shared
sort of passionate mission. So I can't say I've made
too many friends at sports bars. But I do have
friends that are other entrepreneurs building interesting things, or other
people passionate about some of the nonprofits and passionate about
So it's a different type of friendship. And I say
it's intergenerational. I have friends that are, you know, eighteen,

(04:22):
and I have friends that are in their fifties. But
I actually, funny enough, find myself with a lot more
friends than I thought I would, especially when I was
building my companies and you know, sleeping three and a
half hours a night and not seeing anyone but my laptop.

Speaker 1 (04:37):
Well, and you know what, do you have friends who
you can relate to right because they're like you, Emil,
thank you for joining us. Good to talk to you,
Best of luck. That is an entrepreneur a meal bar
Well on his way to becoming a billionaire at six
twenty seven,