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Our first investment in Margins Capital Fund 1 went to zero. This is the investment story nobody talks about. The losses. The lessons. The resilience needed to keep going. In this episode, Stephanie Dorsey walks through Margins Capital's first real investment: Fizz (later rebranded to Mine), a fintech startup solving credit building for Gen Z. You'll see exactly how the due diligence framework works in practice, what looked promising, and why it ultimately failed. You'll learn: The two-bucket due diligence framework: "Does this deal make sense?" and "Can this team win?"How to evaluate strategy, macroeconomic factors, and unit economicsWhy Kleiner Perkins backing gave confidence (even when it wasn't enough)What went wrong: macroeconomic shifts and unsustainable growth modelsHow to make peace with losses using Pareto's Principle (80% fail, 20% fund everything) This is not a feel-good success story. This is what real private investing looks like. The wins come from discipline, due diligence, resilience, and understanding that losses are part of the game. If you're afraid to invest because you might lose money, this episode is for you. Join the Sovereign Collective: joinsovereign.co Connect with Stephanie: https://www.instagram.com/stephanieadorsey/ Follow Margins Capital:IG: https://www.instagram.com/marginscapital/TikTok: https://www.tiktok.com/@marginscapitalWebsite: https://marginscapital.com/ For the full list of What the Wealthy Do episodes here

Private markets are gatekept. Only the ultra-wealthy have access. Only those with connections get in. That's what everyone said. So Stephanie Dorsey decided to blow the gates wide open. In this episode, Stephanie shares the origin story of Margins Capital and how she went from being excluded from private market investing to creating a fund that democratizes access for high-earning women and people of color. You'll learn how Margins Capital started with a simple request from a high net worth friend, the four main barriers keeping regular people out of private markets, and why building your own portfolio first matters before taking other people's money. Stephanie also shares real investments from Fund 1 (a vineyard, a hotel, and Uncle Nearest whiskey) and the critical lessons she learned about people, not just deals. This is the kickoff to an 8-episode series breaking down each Margins Capital Fund 1 investment, the due diligence process, and why some deals succeeded while others taught expensive lessons. If you ever felt locked out of wealth building, this episode shows you the door exists and how to open it. Join the Sovereign Collective: joinsovereign.co Connect with Stephanie Instagram here Follow Margins Capital:IG: https://www.instagram.com/marginscapital/TikTok: https://www.tiktok.com/@marginscapitalWebsite: https://marginscapital.com/ For the full list of What the Wealthy Do episodes HERE

The stock market is being propped up by powerful players, government intervention, and artificial conditions. Ken Griffith manipulating markets. Donald Trump tweeting price movements. The government buying bonds to stabilize the system. So how do you invest when you know the game is rigged? In this episode, Stephanie Dorsey breaks down what's actually happening in the market and shares the alignment framework that lets you invest with confidence even when everything feels irrational. You'll learn: How hedge funds use leverage and market manipulation to their advantageWhy trying to time the market is a fool's errandThe alignment strategy that works regardless of market conditionsDollar cost averaging and why it protects youShort-term vs long-term investing strategies The truth: Time in the market beats timing the market. The wealthy don't try to outsmart manipulation. They invest with a plan and stick to it. Whether the AI bubble happens or not, whether the market crashes or climbs, your strategy matters more than the headlines. Take the Risk Profile Quiz: https://forms.gle/fSoeJhx992rpnNR47 Join the Sovereign Collective: joinsovereign.co Connect with Stephanie: https://www.instagram.com/stephanieadorsey/ Follow Margins Capital:IG: https://www.instagram.com/marginscapital/TikTok: https://www.tiktok.com/@marginscapitalWebsite: https://marginscapital.com/ For the full list of What the Wealthy Do episodes: https://docs.google.com/spreadsheets/d/1TaUUVivqfjSckA1oyhbjNRlbY_m0DMPLWbfH-eoHnDY/edit?usp=sharing

Social media is flooded with financial influencers telling you to do more, invest more, take bigger risks. But what happens when you follow advice that doesn't align with who you are? In this episode, Stephanie Dorsey breaks down the alignment framework that separates smart investors from those who end up overwhelmed, anxious, and making investments they regret. You'll learn the three pillars of investment alignment: Understanding your risk profile (and why it matters)Knowing how much money you're willing to investUnderstanding how you actually want to live your life Discover why "passive income" isn't as passive as influencers claim. Find out how to evaluate whether someone's investment strategy actually works for YOU. Learn why some of the wealthiest people turn down investments that don't align with their values. Take the Risk Profile Quiz: https://forms.gle/fSoeJhx992rpnNR47 This episode is about giving you control back over your wealth journey so you can ignore the noise and build with confidence. Join the Sovereign Collective: joinsovereign.co Connect with Stephanie: https://www.instagram.com/stephanieadorsey/ Follow Margins Capital:IG: https://www.instagram.com/marginscapital/TikTok: https://www.tiktok.com/@marginscapital Website: https://marginscapital.com/ For the full list of What the Wealthy Do episodes: https://docs.google.com/spreadsheets/d/1TaUUVivqfjSckA1oyhbjNRlbY_m0DMPLWbfH-eoHnDY/edit?usp=sharing

After a summer of travel and conversations, Stephanie Dorsey unpacks the biggest misconceptions about wealth that are holding you back from building lasting financial freedom. Did you know most folks get wealth completely wrong? In this episode, Stephanie reveals the 3 wealth myths that are costing you money and the 3 truths that will change how you think about building wealth forever. Learn why high net worth doesn't automatically mean cash flow. Discover the real wealth metric wealthy people use. Find out if you're already wealthier than you think and just don't realize it. If you think wealth equals spending money on luxuries or having tons of cash sitting around, this episode is for you. Join the Sovereign Collective: joinsovereign.co Margins Capital's Website: marginscapital.com Follow us on our Social Media Accounts: Instagram Tiktok Stephanie's Instagram Track our Weekly Episodes Here

After taking a well-deserved summer break, it's time to lock in. But locking in isn't about hustle culture or external validation. It's about becoming your idealized version of yourself and living in true alignment. In this episode, Stephanie Dorsey breaks down the five-step framework to lock in and build lasting wealth habits: Know your idealized self (psychographically, not just demographically)Get honest about where you are todayWrite down the gaps between where you are and where you want to beBuild one to three habits at a time (not ten)Show up consistently and track your progress Learn why identity-based language ("I don't eat junk food" vs "I can't eat junk food") changes everything. Discover how money Mondays transformed Stephanie's wealth management. Understand why incremental 1% improvement compounds into material results. This isn't about achieving someone else's goals. This is about you becoming the greatest, truest version of yourself. Join the Sovereign Collective community at joinsovereign.co For the full list of What the Wealthy Do episodes, visit the playlist here.

The wealthy don't ask "How much is in my 401k?" They ask "Do I have multiple income streams across multiple tax structures and asset classes?" In this episode, Stephanie Dorsey breaks down the three pillars of an optimized retirement portfolio: tax diversification, asset diversification, and income stream diversification. Learn age-by-age strategies for building a retirement that's not just funded, it's optimized for taxes, protected against market crashes, and designed to create generational wealth. Topics covered: Roth IRA strategies, backdoor Roth conversions, alternative investments, tax-free income planning, and required minimum distribution (RMD) strategies. Action steps included for ages 38-45, 46-55, 56-65, and 65+. Work with a fee-only financial advisor and CPA to implement these strategies for your personal situation. Join the Sovereign Collective: joinsovereign.co For the full list of What the Wealthy Do episodes, visit the playlist here.What the Wealthy Do Episodes

Stephanie Dorsey reveals the exact framework sophisticated investors use to evaluate stock opportunities. Before you look at numbers, ask yourself two critical questions: Does this company's strategy make sense? Can they win? This episode covers: The two buckets of stock analysis (qualitative before quantitative)Red flags that signal vulnerable companiesHow to find public information and analyze like the wealthyUsing Claude as your investment thought partner Perfect for long-term investors building generational wealth. Resources:Investor relations pages • Earnings calls • Glassdoor/Blind reviews • Bloomberg • Yahoo Finance • Claude AI Community:Build your wealth portfolio with support. Join The Sovereign Collective at joinsovereign.co List of Episodes:What The Wealthy Do Episodes

Summer Series: The Future of Wealth Is in Private Markets (And Women Are Leading It) The future of generational wealth isn't in the stock market. It's in private markets. And Black women are positioning themselves to lead this trillion-dollar space. Stephanie sits down with Erin Harkless-Moore to talk about where real wealth is being built, how women are gaining access to capital and investment opportunities, and the $640 billion care economy (bigger than pharma) that's being overlooked. Real talk on: Building generational wealth | alternative investments | private market investing | portfolio diversification | women in finance | risk management | venture capital New episodes every Wednesday. Host: Stephanie Dorsey, CEO & Co-Founder of Margins Capital Resources: joinsovereign.co | Margins Capital | WTWD Episodes Tracker: https://docs.google.com/spreadsheets/d/1TaUUVivqfjSckA1oyhbjNRlbY_m0DMPLWbfH-eoHnDY/edit?usp=sharing Subscribe wherever you get podcasts.Follow: Instagram: ⁠@whatthewealthydo⁠ | @stephanieadorseyTiktok: ⁠@marginscapital⁠Facebook: ⁠Margins Capital, Inc.

Summer Series: The Rooms We're Rarely Invited To: A Black Woman in Private Equity (Part 2)  In Part 1, we went inside the rooms. Now in Part 2, Yashnika goes deeper—revealing who qualifies to invest in alternatives and why your emotional relationship with money matters more than your net worth.  You might already qualify. But there's more to it than just the numbers.  She digs into money trauma, why the 60-40 portfolio is failing, the education gap destroying retirement plans, and why financial wellness starts with financial advisors—not at retirement.  New episodes every Wednesday.  Host: Stephanie Dorsey, CEO & Co-Founder of Margins Capital  Resources: joinsovereign.co | Margins Capital | WTWD Episodes Tracker Subscribe wherever you get podcasts. Follow us on: Instagram: @whatthewealthydo Tiktok: @marginscapitalFacebook: Margins Capital, Inc.

She went from criminal law to breaking into private equity at Apollo Global Management. And her story reveals everything about wealth, access, and where the real money moves.  In this conversation, Stephanie sits down with a young Black woman building wealth in spaces most of us don't even know exist. She walked away from law school, landed in real estate private equity, and has since built a career at the highest levels of finance. Her insights on what she found inside these exclusive rooms will change how you think about wealth-building and representation.  📊 WHAT YOU'LL DISCOVER: How private equity actually works (real estate, alternative assets, and more)What it takes to break into finance when almost no one in the room looks like youThe harsh reality of representation in finance (with the numbers)Why alternative investments are where real wealth is being builtHow the wealthy think about money vs how most people think about itThe barriers Black women face in investment spacesReal stories from inside rooms where billions move hands  💡 KEY STATISTICS: Less than 3% of financial advisors are Black (vs 13% of US population)0.03% of venture capital fund managers are Black womenAlternative investments historically yield 200-300 basis points above public marketsEight-figure deals are being made—and most people have no idea they exist  🚨 THE REAL TALK: This isn't just a career success story. This is about access, representation, and understanding where the wealth gap actually gets created. You'll hear from someone literally inside the rooms where decisions about billions of dollars are being made. She's not observing from the sidelines—she's building generational wealth in a space most Black women never even knew existed.  🎯 KEY TOPICS: Private equity | alternative investments | wealth building | finance career | Black women in finance | representation | access to capital | venture capital | real estate investing | wealth creation | career transitions | financial markets  📚 THIS IS PART 1 OF 2: Make sure to subscribe so you catch Part 2 of this incredible conversation.  🔗 RESOURCES MENTIONED: Sovereign Collective (Black women in wealth building): joinsovereign.coMargins Capital (alternative investments): https://www.marginscapital.comApollo Global ManagementAsset Management ConferenceWTWD Episodes Tracker: https://docs.google.com/spreadsheets/d/1TaUUVivqfjSckA1oyhbjNRlbY_m0DMPLWbfH-eoHnDY/edit?usp=sharing  New episodes every Wednesday. Subscribe and share with someone ready to understand where the real wealth is being built.  Host: Stephanie Dorsey, CEO & Co-Founder of Margins Capital What the Wealthy Do is the podcast where we break down concrete, actionable strategies ultra-wealthy use to build wealth—and apply them to busy, brilliant Black women building wealth from the ground up.  Subscribe wherever you get podcasts. Follow: Instagram | TikTok | YouTube

Summer Series: Are You Living Like a Consumer or an Investor?  Most of us want the lifestyle of a consumer. But here's the paradox: to actually have that lifestyle, you need to think like an investor.  In this episode, Stephanie reveals how wealthy people make every financial decision—and why it's the complete opposite of what most people do.  She breaks down the real difference between spending money and making money work for you. And she does it with examples so practical, you'll never look at your money the same way again.  What you'll discover: How the wealthy think about money (hint: it's not about how much they make)The framework behind every decision the wealthy makeWhy your daily habits are secretly keeping you from wealthThe question you need to ask before every purchaseHow to navigate holiday spending without losing yourself  Key topics: Consumer mindset | investor mindset | wealth building | spending habits | financial decisions | Black women wealth | money psychology New episodes every Wednesday. Subscribe and share with someone ready to think like an investor.  Host: Stephanie Dorsey, CEO & Co-Founder of Margins Capital What the Wealthy Do is the podcast where we break down concrete, actionable strategies ultra-wealthy use to build wealth and apply them to busy, brilliant Black women building wealth from the ground up.  RESOURCES: Sovereign Collective: joinsovereign.coMargins Capital: https://www.marginscapital.comWTWD Episodes Tracker: https://docs.google.com/spreadsheets/d/1TaUUVivqfjSckA1oyhbjNRlbY_m0DMPLWbfH-eoHnDY/edit?usp=sharing  Subscribe wherever you get podcasts. Follow: Instagram | TikTok | YouTube (@whatthewealthydo)

Summer Series: Your Mindset Is Everything: The 3 Money Beliefs That Build Wealth  You can have all the strategies in the world. You can know the wealthy framework inside and out. But if your mindset isn't aligned, nothing will change.  In this episode, Stephanie breaks down the exact mindset framework that separates wealthy people from everyone else. She calls it "The 3 Money Beliefs," and it's foundational to everything.  THE 3 COMPONENTS OF WEALTHY MINDSET:  1. They believe they DESERVE to be wealthy 2. They are CONFIDENT in their ability to create wealth 3. They understand the ROLE THAT RISK plays in building wealth  THE REAL TALK: Stephanie shares a powerful skiing story that changed everything. She was rolling down a slope, tumbling uncontrollably. But instead of bracing for impact (which would have caused injury), she stayed open and fluid. She got back up with virtually no pain. That's the metaphor for wealth building: stop tensing up trying to avoid pain, and stay in flow.  She also talks about: • Why she went to Kellogg (a top 5 business school) to "be where the money resides" • Why systemic messages counter our "deserve wealth" belief • Why you don't need to know everything—you just need to be resourceful • Why risk means something different for Black & Brown people • Why most millionaires are made in their late 40s-50s (when evidence builds confidence)  WHAT YOU'LL LEARN: ✓ The 3 money beliefs that wealthy people have ✓ How to identify and shift your own limiting beliefs ✓ Why "bracing for impact" prevents wealth building ✓ How to build genuine confidence in your wealth-creating ability ✓ Why getting comfortable with calculated risk is essential ✓ The specific reflection questions that shift everything  KEY INSIGHTS FROM THIS EPISODE: • Your mindset is everything—shift it, and your whole life shifts • Systemic messages run counter to "I deserve wealth" (and that's part of the work) • Your "inner over-protector" is trying to protect you but actually limits you • You've overcome hard things before—use that as evidence of your ability • Risk historically meant something different for Black/Brown people (survival vs. financial) • But wealth is built through strategic, informed risk-taking • Confidence comes from accumulating evidence of your capabilities  RESOURCES MENTIONED:• Sovereign Collective (Black women building wealth together): joinsovereign.co • Kellogg School of Management (where wealthy people gather) • Margins Capital (this framework in action) • WTWD Episodes Tracker: https://docs.google.com/spreadsheets/d/1TaUUVivqfjSckA1oyhbjNRlbY_m0DMPLWbfH-eoHnDY/edit?usp=sharing  COMING SOON IN THE SUMMER SERIES: New episodes every Wednesday covering: • Consumer vs Investor mindset shift • Inside the rooms (Black women in private equity) • How to analyze stocks like the wealthy • 401k reality check (and what's missing) • Future of private markets (where real wealth is built)  New episodes every Wednesday. Subscribe and share with someone ready to reprogram their mindset.  What the Wealthy Do is the podcast where we break down the concrete, actionable strategies ultra-wealthy use to build wealth—and apply them to busy, brilliant Black women building wealth from the ground up.  Host: Stephanie Dorsey, CEO & Co-Founder of Margins Capital Topics: Money mindset | wealth beliefs | financial psychology | alternative investments | Black women wealth | entrepreneurship | summer series  Subscribe wherever you get podcasts. Follow: Instagram | TikTok | YouTube (@whatthewealthydo)

The wealthy don't have a secret. They have a FRAMEWORK.  And in this episode, Stephanie breaks down Margins Capital's proprietary "Wealthy Framework"—7 concrete, actionable strategies that ultra-wealthy people use to build and protect their money. Whether you're just starting or already on your way, this is the roadmap.  📊 THE 7 WEALTHY STRATEGIES: • Capital Allocation Plan (not budgeting—know where your money goes) • Take Advantage of Corporate Benefits (401k match = FREE MONEY) • Manage Debt Responsibly (debt is a tool, not the enemy) • Build Savings (3-6 months of cash on hand) • Start Investing (make money while you sleep)• Protect What You Build (estate planning) • Alternative Investments (next level wealth building)  🚨 THE REAL TALK: Stephanie covers why most people stay stuck—even earning six figures—and shows you the exact framework that separates the wealthy from everyone else. The difference isn't income. It's INTENTION and knowing these 7 strategies. You don't need to be ultra-wealthy to use them. You just need to know them.  📌 WHAT YOU'LL LEARN: ✓ The 7 strategies in order (and why sequence matters—sometimes) ✓ Why you DON'T need to do all 7 at once (pick ONE and start) ✓ How to mix and match strategies based on your life ✓ Why wealth starts with INTENTION, not income ✓ The 95th percentile secret: Master these 7 = you're ahead of almost everyone ✓ Real examples of how these strategies work together ✓ Permission to start small (small consistent moves = massive wealth)  💡 KEY INSIGHTS FROM THIS EPISODE: • Wealth doesn't start with income—it starts with intention • Even if you make six figures, you could be living paycheck to paycheck • It's about how you MANAGE the money you have, not how much you make • Small, consistent moves lead to massive wealth • You can work on multiple strategies at once (don't wait for perfection) • Ultra-wealthy spend $100K-$500K+ on advisors, but the high-level strategies are the same • The rules change, but the framework stays solid  🔗 RESOURCES MENTIONED: • Sovereign Collective (Black women building wealth together): joinsovereign.co • Margins Capital: The framework breakdown • Estate planning investment: $3-5K• 401k with employer match = free money • High-yield savings accounts (don't let your cash sit idle earning 0.0001%)  📚 COMING SOON IN THE SUMMER SERIES: New episodes every Wednesday covering: • Roth IRA deep dive (why it's the ideal investment account) • Estate planning explained (why $3-5K now saves your family) • Consumer vs Investor mindset shift • Inside the rooms (Black women in private equity)• How to analyze stocks like the wealthy • 401k reality check (and what's missing) • Future of private markets (where real money is built) New episodes every Wednesday. Subscribe and share with someone ready to build wealth.  What the Wealthy Do is the podcast where we break down the concrete, actionable strategies ultra-wealthy use to build wealth—and apply them to busy, brilliant Black women building wealth from the ground up.  Host: Stephanie Dorsey, CEO & Co-Founder of Margins Capital Topics: Wealth building | financial strategies | money mindset | debt management | estate planning | Black women wealth | alternative investments | summer series Subscribe wherever you get podcasts. Follow: Instagram | TikTok | YouTube (@whatthewealthydo)

Black Women Don't Know They Have Black women control $2.1 trillion in buying power—and that number has GROWN from $1.6 trillion just a few years ago. That's bigger than Spain's entire GDP. But we're still underpaid, under-resourced, and left out of wealth-building conversations. In this episode, Stephanie Dorsey gets REAL about Black women and money. She breaks down the statistics nobody talks about, the obstacles we face, AND the power we already have.  THE NUMBERS THAT MATTER: • Black women control $2.1 trillion in economic buying power (2026) • Growth from $1.6 trillion shows how fast our wealth is building • Black women manage 52% of Black community wealth = $900 billion annually • 2.7 million Black women entrepreneurs (fastest-growing cohort) • $98 billion in revenue generated 2019-2023 • For every $100 white people own, we own $15 (wealth gap reality) • 16% of college-educated Black people earn $100K+  You'll learn: • The real numbers about Black women's economic power (and why they're hidden) • Why the wealth gap is growing (and what to do about it) • The 4 strategies wealthy people use to build long-term wealth• Why your money story matters (and how to rewrite it) • Why you can't build wealth alone—and how to find your community This isn't a sad story about what we don't have. This is a wake-up call about the power we DO have. And more importantly, it's your permission to stop playing small and start building the wealth you deserve.  New episodes every Wednesday. Subscribe and share with someone who needs this.  What the Wealthy Do is the podcast where we break down the tips, tricks, tactics, and strategies that ultra-wealthy use to build their wealth—and apply them to busy, brilliant Black women building wealth from the ground up.  Topics: Black women wealth | wealth gap | financial independence | entrepreneur stories | money mindset | alternative investments | retirement planning | Black economic power  Subscribe wherever you get podcasts.Follow: Instagram | TikTok | YouTube (@whatthewealthydo)