On the latest episode of the Financial Samurai podcast, I sat down with Ben Miller, cofounder and CEO of Fundrise, for a deep dive into AI, venture capital, and what it really takes to get into the best deals.

Key Takeaways from the Podcast

1. AI Growth and Market Dynamics

• Revenue growth is accelerating in big AI companies like Anthropic.

• There’s an AI benchmarking race where many products seem similar, but differentiation still matters—Ben Miller doesn’t believe AI is a commodity at all.

• The biggest AI players continue to extend their lead, creating a “winner-take-most” dynamic.

2. Venture Capital Strategy and Concentration

• How much concentration is acceptable in a venture fund: up to 50% of the portfolio can be concentrated in just two companies.

• Importance of building a pipeline (“bench”) of potential giants like OpenAI, Anthropic, and Databricks.

• Leveraging scouts in key hubs like San Francisco to source the next wave of private growth companies.

3. Valuation and Economic Concepts

• Growth-Adjusted Revenue Multiple as a more nuanced valuation approach for high-growth companies.

• Baumol Effect – rising costs in labor-intensive sectors despite limited productivity gains, and how this might influence AI adoption and consumer behavior.

4. Access and Allocation Challenges

• Figma IPO: Allocation was difficult even for well-connected investors; demand for strong growth companies far outstrips supply.

• Innovation Fund’s approach: invested in 6 of the top 50 companies on the CNBC Disruptor list.

• The battle of connections and wealth—strong networks often determine who gets into the best deals.

See related post:  The Futility Of Chasing Allocation In A Hot IPO Company

5. Strategic Advantages for Investors

• Directing a 2M+ user base to both invest in and use portfolio company products (examples: Ramp, Flywheel) as a growth driver.

• Using product adoption to create a feedback loop of higher valuations and more capital access.

6. Macro Perspectives on AI

• China’s optimistic, aggressive push into AI contrasts with America’s more cautious and sometimes pessimistic stance.

• Why I’m personally increasing my allocation to AI—both as a long-term growth opportunity and as a hedge against missing the next big wave.

Invest in Private Growth Companies With Fundrise

Companies are staying private longer, which means more gains go to early private investors rather than the public. If you don’t want to fight in the IPO “Hunger Games” for scraps, consider Fundrise Venture.

About 80% of the Fundrise venture portfolio is in artificial intelligence—an area I’m extremely bullish on. In 20 years, I don’t want my kids asking why I ignored AI when it was still early.

The investment minimum is just $10, compared with $200,000+ for most traditional venture funds (if you can even get in). You can also see exactly what the fund holds before you invest, and you don’t need to be an accredited investor.

Pick up a copy of my USA TODAY national bestseller, Millionaire Milestones: Simple Steps to Seven Figures. I’ve distilled over 30 years of financial experience to help you build more wealth than 94% of the population—and break free sooner.

To expedite your journey to financial freedom, join over 60,000 others and subscribe to the free Financial Samurai newsletter. Financial Samurai is among the largest independently-owned personal finance websites, established in 2009. Everything is written based on firsthand experience and expertise.

To Your Financial Freedom,

Sam

Figuring out when you have enough money is a mix of math and emotion. You might have enough on paper, but if you’re not emotionally ready to live life entirely on your terms, then you probably don’t have enough yet.

As one of the pioneers of the modern-day FIRE movement in 2009, I’ve developed a new framework with clear action steps to help determine if you’ve truly reached “enough.” It goes beyond the typical 4% rule or simply having 25 times your annual expenses in investable assets.

Related posts:

A Net Worth Equal To 25X Annual Expenses Is Not Enough To Retire Early

The Best Way To Determine If You Have Enough Money

The Minimum Investment Amount Where Work Becomes Optional

If You're Interested In 1X1 Consulting

For those of you who are interested in speaking with me about optimizing your personal finances, building a business, or negotiating a severance package, you can click here. Simply fill out the brief form at the end of the page and I'll get back to you within 24 hours. 

I only take on two consulting clients a month, so there may be a wait. My goal is to help you see through blindspots and have the confidence to live your life the way you want. 

Pick up a copy of my USA TODAY national bestseller, Millionaire Milestones: Simple Steps to Seven Figures. I’ve distilled over 30 years of financial experience to help you build more wealth than 94% of the population—and break free sooner.

Listen and subscribe to The Financial Samurai podcast on Apple or Spotify. I interview experts in their respective fields and discuss some of the most interesting topics on this site. Your shares, ratings, and reviews are appreciated.

To expedite your journey to financial freedom, join over 60,000 others and subscribe to the free Financial Samurai newsletter. Financial Samurai is among the largest independently-owned personal finance websites, established in 2009. Everything is written based on firsthand experience and expertise.

Earning passive income is the holy grail of personal finance and achieving financial independence. With interest rates still elevated, it's become much easier to generate a larger amount of risk-free passive income. If you're not financially independent yet, this could be a suboptimal choice. 

Check out the post: The Hidden Dangers Of Earning Risk-Free Pasisve Income

Suggestions

Check out Fundrise Venture if you’re looking to gain exposure to some of the top private AI companies. You can view all of its holdings before investing, which adds a welcome layer of transparency. I’ve personally invested over $150,000 so far and plan to add more next month once I receive funds from a liquidity event. Fundrise is a long-time sponsor of Financial Samurai as our investment views are aligned. 

Pick up a copy of my USA TODAY national bestseller, Millionaire Milestones: Simple Steps To Seven Figures, if you want to build more wealth. I synthesize 30 years of wealth-building knowledge to help you outperform 94% of the U.S. population so you can break free sooner. 

Join over 60,000 others and subscribe to the free Financial Samurai newsletter. Financial Samurai is among the largest independently-owned personal finance websites, established in 2009. Everything is written based on firsthand experience and expertise.

Buying the stock market dip can be intimidating. As a result, many investors sit on cash, waiting for clear signs of a recovery. However, history has shown that those who bought during downturns and held on have often done well over time. With that in mind, I wanted to share a few strategies to help build the courage to buy the dip when the next opportunity arises.

See post: How To Gain The Courage To Buy The Dip And Prosper

Your shares, ratings, and reviews are appreciated! Every episode takes hours to record and produce. Your positive reviews help keep me recording.

Suggestions

Check out Fundrise Venture if you’re looking to gain exposure to some of the top private AI companies. You can view all of its holdings before investing, which adds a welcome layer of transparency. I’ve personally invested over $150,000 so far and plan to add more next month once I receive funds from a liquidity event. Fundrise is a long-time sponsor of Financial Samurai as our investment views are aligned. 

Pick up a copy of my USA TODAY national bestseller, Millionaire Milestones: Simple Steps To Seven Figures, if you want to build more wealth. I synthesize 30 years of wealth-building knowledge to help you outperform 94% of the U.S. population so you can break free sooner. 

Join over 60,000 others and subscribe to the free Financial Samurai newsletter. Financial Samurai is among the largest independently-owned personal finance websites, established in 2009. Everything is written based on firsthand experience and expertise.

In this episode, I reconnect with my old friend Joe Saul-Sehy from The Stacking Benjamins podcast to talk about creating your own life curriculum — because when you do, you may no longer be beholden to anyone.

With AI eliminating jobs and making the path to financial independence even tougher, I wanted to sit down with another creator who forged his own way—building a business and income stream through podcasting.

I firmly believe everyone should build an online brand and develop a side hustle. The era of job security, pensions, and abundant opportunities is fading. You—and your children—need to learn how to create your own income streams.

Check out Joe's work at:

https://joesaulsehy.com

https://www.stackingbenjamins.com

Subscribe To Financial Samurai

Join 60,000+ others and subscribe to the free weekly Financial Samurai newsletter. My goal is to help you achieve financial freedom sooner, rather than later. Financial Samurai started in July 2009 and is the leading independently-owned personal finance site today. 

This episode is sponsored by Fundrise Venture, an innovative venture capital product that invests in private AI companies like OpenAI, Anthropic, Anduril, Databricks, and more. The minimum investment to start is only $10, and I personally have invested over $185,000 in Fundrise Venture so far. 

After three years of writing, revising, and reflecting, I’m excited to share that Millionaire Milestones: Simple Steps To Seven Figures is now available everywhere—in hardcover, eBook, and audiobook!

In this special episode, my wife and I sit down to talk about the journey behind the book: why I wrote it, what readers can expect, and how it ties into over a decade of sharing free financial content on Financial Samurai.

We also dive into the emotional side of writing—especially how the process impacted our family, what it means to lead by example for our kids, and what we hope this book will do for readers striving to build lasting wealth.

Whether you're just getting started on your financial journey or looking for that extra push to reach the next level, this episode gives you an honest, behind-the-scenes look at what it takes to turn knowledge into action—and how to stay motivated along the way.

Pick up a hard copy or two of Millionaire Milestones on:

• Amazon
• B&N
• Books A Million
• Your local book store or anywhere you buy books

Your reviews and shares are appreciate! There's nothing better than giving the gift of financial freedom. 

Fight on! 

Sam

Feel free to join 60,000 others and sign up for my free weekly newsletter as well. My goal is to help you achieve financial freedom sooner, rather than later. 

Financial Samurai was founded in 2009 and is the leading independently-owned personal finance site today. Everything is written based off firsthand experience and knowledge because money is too important to be left to pontificaiton. 

In this episode, I talk with Harry, a long-time Financial Samurai reader, about his journey to building a $4+ million home in the Los Angeles area. While most people buy move-in ready homes, Harry shares an insightful behind-the-scenes look at how it's done — from financing the project to the timeline it takes to build, and whether it's ultimately a good investment.

Related posts:

How To Survive The Most Dangerous Time After Buying A Home

A Big Expensive How Can Ruin Your Path To Financial Freedom

To Remodel With Permits Or Without To Save Time And Money

Wealth-Building Recommendations

This episode is brought to you by Fundrise, my preferred private real estate investment platform. Fundrise predominantly in residential and industrial commercial real estate in the Sunbelt, where valuations are lower and yields are higher. I've personally invested over $300,000 in Fundrise to diversify. The investment minimum is only $10, so it's easy to dollar-cost average in. 

If you’re ready to build more wealth than 93% of the population, grab a copy of my new book, Millionaire Milestones: Simple Steps to Seven Figures. With over 30 years of experience working in, studying, and writing about finance, I’ve distilled everything I know into this practical guide to help you achieve financial success.

To expedite your journey to financial freedom, join over 60,000 others and subscribe to the free Financial Samurai newsletter. Financial Samurai is among the largest independently-owned personal finance websites, established in 2009. Everything is written based on firsthand experience and expertise.

To Your Financial Freedom,

Sam

I have the pleasure of speaking with Humphrey Yang, a personal finance content creator with over 1.6 million followers on YouTube and over 3.3 million followers on TikTok. Humphrey burst onto the scene in 2020 when COVID-19 began and has been growing steadily ever since.

According to polls by YouGov and toy-maker Lego, being a YouTuber or TikToker consistently ranks as one of the top aspirations for teenagers and young adults today. Given this trend, I thought it would be insightful to chat with Humphrey about his journey.

With the soaring cost of college and the increasingly cutthroat competition to get accepted — even for some of the top high school students — more young people are considering bypassing traditional gatekeepers and creating something of their own. Becoming a content creator is one way to take control of your future and potentially achieve financial success on your own terms.

I invite you to check out our conversation and subscribe to Humphrey's personal finance YouTube and TikTok channels. It's clear that video is all the rage now and in the future. 

If you enjoyed this podcast episode, I'd appreciate a positive review and a share. Each episode takes hours to create. Please also subscribe to my free weekly newsletter at www.financialsamurai.com/news. 

To Your Financial Freedom,

Sam, Financial Samurai

With trade wars, massive federal government employee cuts, fallout with Ukraine, and worsening relationships with European countries, the Trump administration is kicking off with significant uncertainty and chaos.

I spoke with Ben Miller, co-founder and CEO of Fundrise, about how this turbulence could impact the real estate market. In essence, chaos can be good for real estate, and he believes real estate will outperform stocks in 2025 and potentially 2026.

Read the post with charts: Chaos, Uncertainty, Fear: Wonderful For Real Estate Investors

Join 60,000+ others and sign up for the free Financial Samurai newsletter here. Financial Samurai is the leading independently-owned personal finance site in the world with over 1 million organic pageviews a month. It was started in 2009 and everything is wirtten and spoken based off firsthand experience and knowledge. 

With stock market volatility returning and the potential for an economic slowdown ahead, I can’t help but feel grateful for the incredible gains we’ve made in 2023 and 2024. This reflection led me to record why I believe those who actively manage their finances are among the luckiest people on earth.

With our million-dollar mindsets (post), we’re not just accumulating wealth—we’re creating happier, healthier, and more fulfilling lives than those who neglect their finances.

Since 2020, those of us who prioritize financial growth have seen our investments soar, making life significantly easier. My hope is that more people embrace this mindset—because with greater financial security comes more freedom, love, and opportunity for all.

Time To Take Action

If you’re ready to take control of your finances and unlock new possibilities, pre-order Millionaire Milestones: Simple Steps to Seven Figures. This book will guide you toward financial freedom, helping you design life on your own terms.

Order your copy on Amazon or wherever you buy books. Your future self will thank you.

Join 60,000+ others and sign up for the free weekly Financial Samurai newsletter as well. I keep you engaged and thinking about personal finances so you can keep on building wealth for you and your family.