Millennial Millionaire Venture Capitalist Adam Struck Has Some Financial Tips for Generation Z

Millennial Millionaire Venture Capitalist Adam Struck Has Some Financial Tips for Generation Z

Much of the financial advice given to young people today makes Adam Struck cringe.

Struck, a South African-born, Los Angeles-raised venture capitalist, says today’s youth have more access to personal financial tools and information than any previous generation. But as a result, they’re also exposed to a lot more bad advice.

“I think influencers, specifically those who are targeting Gen Z, are too quick to recommend investments in risky asset classes that are not understood,” he said. “Technology has democratized access to esoteric investment options for Gen Z just beginning their financial journey, and that should have a long-term positive effect, but it’s important to approach investment options with a conservative mindset.”

The 35-year-old knows a thing or two about investing. After earning a Juris Doctorate from Georgetown Law and a Management Certificate from Kellogg, Struck spent time as a mergers and acquisitions attorney at Kirkland & Ellis. Despite landing what many would consider a dream job at one of the world’s largest law firms, he felt an entrepreneurial itch that paper couldn’t satisfy.

In 2011, Struck left to start Long Island Brand Beverages, selling it just a few years later. By 2015, Struck had his own $25 million investment fund. In 2017, he was named one of Forbes’ 30 Under 30 for Venture Capital. And by 2020, he was making investments on behalf of Hollywood celebrities like Leonardo DiCaprio. Today, between Struck Capital, Struck Crypto, and Struck Studio, he has hundreds of millions in assets under management.

“I was lucky to have good mentors around me who steered me in the right direction,” Struck says of his early financial success. The best advice he received at that age, he says, was “watch the pennies and the dollars will take care of themselves.”

Who you invest in matters as much as the business plan

Social media content often paints wealth primarily as an enabler of a lavish lifestyle. But for Struck, becoming a billionaire before his 25th birthday was so much more than that. He served as the launching pad for the next phase of his career.

“Having an outlet at a relatively young age allowed me to put myself in the shoes of the entrepreneur,” he said. “That led me to a more refined investment perspective and made me realize that it’s not just about investing in the space, the market or the KPIs, it’s also about investing in the founder and evaluating the soft skills that really make a difference. the difference in difficult times. .”

Don’t be fooled: digital currency is here to stay

Many have speculated that the recent collapse of major crypto exchange FTX would be the beginning of the end for digital currencies. But Struck believes it’s really just the beginning. He expects physical currency to be replaced by digital alternatives, especially in countries experiencing hyperinflation and currency manipulation.

“We envision a future where all forms of assets can be tokenized on the blockchain, allowing individuals or businesses to exchange ownership and value associated with those assets free of intermediaries or third parties that do nothing but ‘tax’. ‘ and slow down the transaction. ” he said.

Basically, don’t discount cryptocurrencies. But the FTX collapse should offer a warning signal to young people about investing in unregulated or risky assets, Struck said, adding that he hopes the episode will lead to more oversight in the industry.

“Regulation always lags behind core technological innovation,” Struck said. “We are confident that the FTX collapse will spur a wave of regulation that should make cryptocurrencies safer for consumers in the future, paving the way for mass adoption.”

Never forget that social networks are not real.

Struck’s top financial advice for the next generation, however, has nothing to do with money. He says that social media paints a dangerously inaccurate picture of wealth, leading many to aspire to a life of extravagance, ignoring what really matters in life.

“While money is important, it is the means, not the end,” he said. “You can have all the money in the world, but without a strong partner and good people around you, it doesn’t really matter.” Blockchains are critical to the future of finance.

Find out the future before it happens

As a venture capitalist, Struck says his job is to think about what the world will be like 10 years from now and invest accordingly. For example, he is confident that the digitization of finance coupled with strong oversight will help future generations weather economic storms, like the one we face today.

Struck also believes that the future will also be largely determined by what he calls a “new industrial revolution,” as the world transitions from fossil fuels to renewable energy sources.

“The core technology needed to make this happen will be a tremendous driver of wealth, making it easier to weather macro tailwinds and various economic storms,” he said.

There’s a lot of bad advice out there. And while no bet is complete proof, for Struck the only reliable path to success is to recognize the realities of tomorrow, not be swayed by broader investor sentiment, and find leaders with vision and the ability to execute.

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