I love going to prison with Andrew Glazier. Glazier is the CEO of Defy Ventures, a Los Angeles-based nonprofit running entrepreneurship training programs in prisons across eight states. And twice now, I’ve tagged along at Defy events, including a New York coaching day and a California pitch competition. As you might expect, there are all sorts of rules in prison: first names only, no promises, no asking ‘what you’re in for,’ high-fives and fist bumps. But I’d argue there’s one rule that matters above the ot ...

Core Insights - The primary motivation for entrepreneurs to start their businesses is the desire to be their own boss, with 28% of small business owners citing this reason, while 23% expressed dissatisfaction with corporate America [1] Group 1: Entrepreneurial Journey - Abi Caswell, owner of Batter, transitioned from a full-time executive assistant to a bakery owner, growing her business to a seven-figure revenue since its inception in fall 2021 [2] - Caswell's journey emphasizes the importance of perfecting products before launching, as she and her husband spent six months refining their signature cookie recipe [4] - The decision to leave her full-time job was made only after establishing a steady demand for her products, which included selling out 500 cookies in 30 minutes at a local farmer's market [5] Group 2: Business Scaling and Financing - Caswell faced challenges in securing financing, with multiple banks rejecting her loan application, ultimately risking her home to secure a $40,000 loan, which she repaid within a year [6] - The experience highlights the necessity of ensuring a business generates sufficient income before scaling operations [6] Group 3: Preparation for Launch - Successful business launch preparation involves more than just a business plan; it requires practical tools and financial resources to support the venture [7]

Core Insights - The article discusses the importance of prioritizing business over personal relationships for entrepreneurs, as illustrated by a story shared by Kevin O'Leary [1][4] - O'Leary emphasizes that success in entrepreneurship often requires difficult decisions regarding personal sacrifices [4] Group 1: Entrepreneurial Challenges - A student shared his experience of running a cloud business generating $5 million a year in free cash flow while facing personal relationship issues [2][3] - The student expressed concerns about his fiancée threatening to leave due to his lack of time for her and family [3] Group 2: Strategic Decision-Making - O'Leary advised the student to consider which is easier to replace: a girlfriend or a successful business, framing the decision as a strategic one rather than an emotional one [3][4] - He suggested that if the fiancée is not supportive of the entrepreneurial journey, it may be better to move on, as success is likely to attract new opportunities [4]

Core Insights - The discussion centers around the challenges and strategies of introducing coconut water to the U.S. market, highlighting the entrepreneurial journey of Vita Coco's CEO, Mike Kerban, and the competitive landscape of the coconut water industry [1][2][4]. Company Background - Vita Coco was founded when the CEO and his friends discovered the popularity of coconut water in Brazil, leading to the creation of a brand aimed at introducing this beverage to the U.S. market [1][4]. - The initial goal was modest, aiming to sell a small quantity of coconut water, but it evolved into a significant business venture [1][4]. Market Entry Challenges - Educating consumers about coconut water was a major hurdle, as many initially confused it with coconut milk, which is thick and creamy [1][4]. - The company utilized sampling in natural food stores and yoga studios to demonstrate the hydration benefits of coconut water, which contains more electrolytes than leading sports drinks [1][4]. Competitive Landscape - The entry of another coconut water brand, Ziko, led to intense competition, referred to as the "coconut water wars," where Vita Coco engaged in aggressive marketing tactics to secure shelf space [2][4][5]. - The competition intensified when Coca-Cola announced its acquisition of Ziko, prompting Vita Coco to adopt a more aggressive strategy to maintain its market position [9][10]. Growth and Expansion - After facing stagnation in growth around 2018, the company restructured its sales organization and focused on analytics to drive growth, ultimately leading to a successful public offering [10][11]. - The decision to go public was influenced by the need to provide liquidity for early investors while allowing the CEO to continue running the business [10][11]. Lessons Learned - The CEO emphasized the importance of resilience in entrepreneurship, stating that the ability to recover quickly from setbacks is crucial for success [10][11]. - The lack of a formal business plan initially led to mistakes, but it also allowed for innovative approaches that contributed to the company's unique market position [11][12].

Core Insights - Kevin O'Leary advises aspiring entrepreneurs to avoid launching businesses out of pressure, emphasizing that success is contingent on strangers being willing to pay for a solution [1][2] Group 1: Business Launch Advice - O'Leary states that the worst reason to start a business is feeling obligated to do so, urging founders to wait until they have identified a genuine problem that people are willing to pay to solve [2][3] - He highlights that feedback from family and friends is not a reliable form of validation, asserting that a business is only legitimate when a stranger makes a purchase [3][4] Group 2: Entrepreneurial Mindset - O'Leary shares personal experiences that shaped his entrepreneurial journey, including advice from his stepfather that redirected him towards business and marketing [5] - He emphasizes the importance of aligning passion with ability and avoiding self-deception in the pursuit of entrepreneurial success [5]

Core Insights - The article discusses the journey of Jaclyn Johnson, founder of Create & Cultivate, highlighting her initial success, the challenges faced post-sale, and her decision to buy back her company [4][6][18]. Company Growth and Development - Create & Cultivate evolved from a side hustle into a national movement, hosting sold-out events with notable figures by 2020 [2]. - Johnson initially had a marketing business and $50,000 in savings before launching Create & Cultivate, which outgrew her marketing agency [3]. Financial Transactions and Valuation - Johnson sold Create & Cultivate for $22 million in 2021, but later bought back the company at a lower valuation, aiming to rebuild it into a $1 billion brand [4][6]. Entrepreneurial Challenges and Realities - The article emphasizes the high failure rate of small businesses, with approximately 20% failing in the first year and nearly 70% by the tenth year [7]. - It discusses the disconnect between entrepreneurial success stories and the statistical reality of many startups, highlighting survivorship bias [9]. Financial Considerations for Entrepreneurs - Starting a sustainable business often requires significant capital, typically between $50,000 to $150,000, with online ventures still needing substantial investments for scaling [11]. - Many entrepreneurs face the challenge of sustaining operations through the first year, often relying on personal savings or high-interest debt [12]. Risk Management and Strategic Planning - The article advocates for calculated risk-taking rather than reckless gambling, suggesting that successful founders protect themselves before making significant leaps [13]. - It recommends maintaining six to twelve months of expenses as a financial buffer before leaving a full-time job, allowing for flexibility during early growth periods [15]. Rethinking Success in Entrepreneurship - Johnson's experience illustrates that wealth does not always equate to fulfillment, as she reframed her journey to focus on purpose and creative control [18]. - The article concludes that entrepreneurship remains a viable path to wealth creation, especially in an economy marked by wage stagnation, but emphasizes the importance of pairing ambition with prudence [19].

Company Overview - Sami Inkinen is a serial entrepreneur who has founded and scaled three companies, including two unicorns, over a 20-year career [2] - Currently, he serves as the CEO of Virta Health, a healthcare business valued at $2 billion [5] Financial Milestones - Inkinen repaid $100,000 in student debt, which he considers a significant moment of financial success [2][3] - He sold secondary shares worth $500,000 pre-tax in 2008, allowing him to pay off his student loans and purchase personal items [3] - Trulia, a company he helped scale, was acquired by Zillow for $3.5 billion in 2015 [5] Entrepreneurial Journey - Inkinen's first entrepreneurial venture was Matchem, a mobile software company he co-founded in 2000, which he sold for a few million dollars [3] - After graduating from Stanford's MBA program in 2005, he declined a lucrative job offer from McKinsey to pursue entrepreneurship [4] Personal Philosophy - Inkinen emphasizes that financial security is not the primary driver of happiness, stating that the thrill of having no debt was short-lived [6] - He believes that money does not define life satisfaction or happiness [6]

Company Overview - Fellow is a premium coffee and kitchenware brand that has grown into a retailer of various products, including coffee makers, grinders, and kettles, available at major retailers like Target, Costco, and Nordstrom [2] Founder Background - Jake Miller, the founder of Fellow, pursued an MBA at Stanford and initially envisioned a minimalist coffee steeper for both hot and cold brews [2] - Before becoming an entrepreneur, Miller explored various jobs, including construction and marketing, ultimately realizing his passion for building and design [4][5] Funding Journey - Miller faced significant challenges in securing funding, experiencing 73 rejections from angel investors and small funds before finally breaking through [2] - Early funding was secured through a crowdfunding campaign on Kickstarter, but institutional capital proved difficult to obtain [2] Market Insight - Miller identified a gap in the home-brewing market, noting that the rise of meticulous coffee roasters was not matched by well-designed brewing equipment [5]

As filed with the Securities and Exchange Commission on January 20, 2026. Registration No. 333-290932 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________ AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ____________________ Colombier Acquisition Corp. III (Exact Name of Registrant as Specified in its Charter) ____________________ | Cayman Islands | 6770 | 98-1880474 | | --- | --- | --- | | (State or Other Jurisdiction of | (Primary ...

Core Insights - The total number of known billionaires worldwide is 2,838, with 73% of U.S. billionaires being self-made [1] Group 1: Definition of Self-Made Billionaires - A self-made billionaire is defined as someone who has founded or co-founded a company leading to billionaire status [2] - Some self-made billionaires have a true rags-to-riches story, while others may have had some initial family wealth to help launch their businesses [3] Group 2: Paths to Becoming a Self-Made Billionaire - Most billionaires accumulate wealth through entrepreneurship by starting their own successful businesses, which can range from technology companies to consumer brands [5] - Wealth is primarily derived from ownership of equity in the companies they founded rather than salaries, as exemplified by Mark Zuckerberg, who owns a 13% stake in Meta Platforms valued at approximately $1.5 trillion, contributing to his net worth of nearly $200 billion [6] - Success often involves a combination of hard work, innovation, timing, and market demand, with many billionaires benefiting from starting their companies at opportune moments, such as during the tech boom of the 1990s and the current AI boom [7]