What The Wealthy Do

Most people only hear about SpaceX after it’s already a headline. Private investors had a chance to get in much earlier.

In this episode, Stephanie Dorsey continues the Margins Capital Fund 1 series by walking through the third investment: SpaceX, the company behind rockets, satellites, and the Starlink internet service. You’ll see how the due diligence framework works in practice, from the strategy and unit economics to the team, competition, and secret sauce.

You’ll learn the two-bucket framework (“Does this make sense?” and “Can this team win?”), why Starlink’s profitability and growing user base mattered, and how Margins Capital got access through a special purpose vehicle.

Stephanie also shares how she thinks about investing in companies whose actions may conflict with personal values.

This is financial education, not financial advice. Every investor has to decide what risks they are comfortable taking.

If you missed the earlier episodes of the series, start from the beginning to see how the framework was built.

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/@marginscapital
Website: https://marginscapital.com/

For the full list of What the Wealthy Do episodes HERE

Private markets are where more and more wealth is being created, and most people never get a seat at the table.

In this episode, Stephanie Dorsey continues the Margins Capital Fund 1 series by walking through the second investment: Form Energy, a renewable energy company building long-duration battery storage that can discharge energy for 100 hours. You’ll see exactly how the due diligence framework works in practice, from the strategy and unit economics to the team and competitive advantage.

You’ll learn the two-bucket due diligence framework (“Does this deal make sense at this price?” and “Can this team win?”), why climate change, grid strain, and data center demand made the strategy a fit, and how a team of former Tesla executives and a strong funding syndicate shaped the decision.

You’ll also hear where Form Energy stands today, including its Google deal and newer funding round.

This is not financial advice. It is financial education, using a real investment to show you how private market deals are evaluated.

If you missed the first episode of the series, start there to see how the framework was built.

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 here.

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 economics
• Why Kleiner Perkins backing gave confidence (even when it wasn't enough)
• What went wrong: macroeconomic shifts and unsustainable growth models
• How 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/@marginscapital
Website: 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/@marginscapital
Website: 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 advantage
• Why trying to time the market is a fool's errand
• The alignment strategy that works regardless of market conditions
• Dollar cost averaging and why it protects you
• Short-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/@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

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:

1. Understanding your risk profile (and why it matters)
2. Knowing how much money you're willing to invest
3. Understanding 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

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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:

1. Know your idealized self (psychographically, not just demographically)
2. Get honest about where you are today
3. Write down the gaps between where you are and where you want to be
4. Build one to three habits at a time (not ten)
5. 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 companies
• How to find public information and analyze like the wealthy
• Using 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