Tony Robbins can work magic with crowds, sell a book and separate people from their hard earned money. Does he have the chops to save private equity underwriters (PEU) after two scathing books? That is Tony's current task.
Tony Robbins returns with the final book in his financial freedom trilogy by unveiling the power of alternative investments. Robbins, and renowned investor Christopher Zook, takes you on a journey to interview a dozen of the world’s most successful investors in private equity, private credit, private real estate, and venture capital. They share their favorite strategies and insights in this practical guidebook.
For decades, trillions of dollars in “smart money” has been making outsized returns using private equity, private credit, venture capital and other alternative investments. Robbins teams up with renowned private equity investor Christopher Zook, founder of CAZ Investments, to sit down with more than a dozen of the world’s greatest alternative investment managers, collectively managing over half a trillion dollars on behalf of investors. Names like…
Robert F. Smith – Founder of Vista Equity Partners, Smith is the considered the most successful enterprise software investor of all time.
Vinod Khosla – Founder of Khosla Ventures, Vinod Khosla is considered a legend in Venture Capital. He is famous for turning a $4 million investment into a $7 billion windfall for his investors.
Robbins may not have used his best judgement in picking Smith given his 2020 settlement with the Department of Justice.
Robert F. Smith, the Chairman and Chief Executive Officer of a San Francisco based private equity company, entered into a Non-Prosecution Agreement (the agreement) with the Department of Justice, for his involvement from 2000 through 2015 in an illegal scheme to conceal income and evade millions in taxes by using an offshore trust structure and offshore bank accounts.
As a result of the overall scheme, Smith willfully did not report to the IRS over $200 million of partnership income.
Offshore, onshore,,, Vinod Khosla is hated for his exclusion of the public from a California beach.
Why would Tony Robbins write a fanboy book about the greed and leverage boys, given their propensity for not sharing? Because Tony is one. Flashback to 1999.
Following the Spin-off, GHS's sole business will involve the continued development of an online network to focus on personal and professional improvement. In May 1999, GHS consummated the acquisition of ChangeYourLife.com, LLC, a company founded by Anthony J. Robbins that is engaged in the development of a web site for personal and professional improvement. ChangeYourLife.com, LLC has an agreement with Anthony J. Robbins and his operating company, Robbins Research International Inc. that makes GHS the exclusive online source for Robbins' training, courses, content and publications. In addition, in May 1999, GHS completed its acquisition of Brainfuel.com, the online arm of The Learning Annex and has the option to purchase The Learning Annex's traditional offline business. As a result of this acquisition, GHS has exclusive online access to educational content and materials covering a wide range of topics. GHS's ultimate objective is to make its online network the leader in online personal and professional improvement content, services, communities, and interactive sales.GHS became dreamlife, inc. in late 1999. NYT reported in early 2000:
Mr. Robbins, who created Dreamlife last spring and whose stake is now worth $370 million, specializes in helping the successful become more successful.
Tony picked the right group. Nobody's done better than the PEU boys the last decade and a half.
Robbins dropped from Chairman of the Dreamlife board to Vice Chairman in August 2001. SEC filings changed from dreamlife, inc. to EOS International, Inc.
The company's 2002 Annual Report noted a financial red flag:
On November 6, 2001, KPMG LLP declined to stand for reelection as the principal accountants for the Company.
By Q4 2003 the company was hemorrhaging. The 10-Q stated:
Due to lack of working capital at Eos and possible non-compliance with bank covenants, there is uncertainty as to whether Eos can continue as a going concern.
The 2003 proxy statement referred to a PEU board position:
In connection with the $7.5 million private equity offering effected by the Company on January 14, 2003, the Company has agreed to use commercially reasonable efforts to cause the election to the Board of Directors of a person designated by Draupnir, LLC, an investor in the offering.The Robbins founded firm received private equity funding in an attempt to save the distressed dotcom.
At December 31, 2003, Eos, on a stand alone basis, had negative working capital of $524,000, including $262,000 of restricted cash and approximately $74,000 of unrestricted cash, offset by accounts payable of $345,000 and other accrued liabilities of $738,000, consisting of related party balances of $367,000 for management fees, and estimated costs of $155,000 for the offer and sale of its common stock incurred in the quarter ended December 31, 2003.
Dreamlife/EOS suffered a nightmarish death. It's last SEC filing occurred on 10-14-2004.
I'm sure this is all chronicled in Robbins' new PEU book.
Update 1-21-24: Vista Equity's Robert Smith talked about investing in AI in Davos. Who plans to use AI for tax cheating avoidance?
