Identity at Bat

Thanks for being here and gathering around the Fountain

We all hit moments where the ground shifts, where what used to define us no longer fits.

This week, I’m sharing a story about moving forward when a dream ends, and what it looks like to rebuild not just a career, but an identity. From early ambition to quiet reinvention, it’s about learning to carry purpose when the title no longer does the heavy lifting.

Agenda:

⏳ Estimated Read Time: 6 minutes

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FOUNDER STORIES

The last game I ever caught was a no-hitter.

After that game, I was no longer a baseball player. And even though I still held on to those quiet, naive dreams that maybe a call would come, that chapter was over.

Baseball was my first real dream. I chased it hard. I got drafted, played NCAA and represented my country. And then one day, it ended. It’s something everyone deals with in their own way, when one version of yourself stops leading and you have to figure out who you are without it.

For me, I dealt with it through a mix of early sadness from the beating with the reality stick, and then changed my perspective and opened my mind.

Something else kicked in too. I’d always been creative. Growing up I would draw all day, in high school and university I wrote poetry. I think that sense of creativity helped me reimagine my life beyond a career in athletics. Through building something meaningful from scratch. That blend of skills I learned from baseball (discipline, handwork, determination, teamwork) I applied differently and it became my edge.

So I started leaning on the tools I had, rather than the title. I poured myself into business. Into identifying opportunities through problem recognition. SAXX was the first big win, but I had some early failures I will share along the way too.

And like most things in life, the chapters kept turning.

After a few companies, Ria and I found ourselves in another transition. I wasn’t the all-in entrepreneur anymore. That intensity, that identity, didn’t feel like the whole story anymore. I was a dad, we were growing a family and those are my priorities now.

Ria and I talk a lot about the difference between identity and purpose.

And when the title fades, when the company sells, when your name’s no longer on the door, what’s left? I sold SAXX because I knew it would more quickly reach its potential in the hands of expert with distribution - it wasn’t my identity and it didn’t serve the idea to selfishly keep my name on the CEO.

Now, we focus on finding purpose daily. It’s less about scale and speed, and more about depth.

About giving back. About mentoring, teaching, creating space for others to dream. About writing again, not (as much) poetry this time, but reflections, frameworks, stories worth passing on. It’s a constant, and we’re still working on it.

That’s what The Fountain is all about. A place to pour into others. A way to keep creating and being of service. A reminder that reinvention isn’t just possible, it’s necessary and nothing will be the same forever. A surface area of positivlty and sharing in the truth tree.

If you’re in that space now, between who you were and who you’re becoming, I get it. Sit with it. It might be uncomfortable, but there’s power in the in-between. Don’t rush to name it.

Let it shape you. And when the next chapter reveals itself, you’ll know how to show up, with purpose and an open mind to the person you will grow to become.

What life transition have you gone through or are going through, reply and let’s talk about it if you’d like!

Beta: what is it and why Berkshire is both an offensive and defensive position today.

In the world of business and investing, "beta" is a simple way to measure how risky or volatile a stock is compared to the overall market. Think of it like a roller coaster: a stock with a high beta (say, 1.5) is a wilder ride, moving up and down more sharply than the market. A stock with a low beta (like 0.5) is a smoother ride, less affected by market swings.

Here’s the breakdown:

For investors, beta helps you pick stocks that match your risk appetite. Want big rewards (and bigger risks)? Go for high beta. Prefer stability? Stick with low beta

​As of March 27, 2025, Berkshire Hathaway Inc. Class A (BRK.A) has a 5-year monthly beta of 0.86. This indicates that BRK.A's stock price has been less volatile than the overall market during this period. Beta measures a stock's sensitivity to market movements; a beta of 1 implies the stock moves in line with the market, while a beta less than 1 suggests lower volatility relative to the market.​

Why is BRK.A and offensive investment?

Berkshire Hathaway's Class A shares ($BRK.A ( ▲ 0.59% )) sit in a unique spot right now, balancing offensive and defensive traits, largely thanks to its record cash pile—over $325 billion as of late 2024. Here’s why it’s both, explained simply for a business and investing audience.

Defensive Strength: That massive cash reserve acts like a fortress. It’s a buffer against economic storms, think recessions, market crashes, or unexpected hits to its businesses, especially insurance, which is Berkshire’s backbone.

Warren Buffett has always kept a hefty cash cushion (he won’t let it drop below $30 billion) to cover claims and keep operations humming, no matter what. This was a game-changer during the 2008 financial crisis when Berkshire stayed rock-solid while others scrambled.

Offensive Firepower: On the flip side, $325 billion is a loaded cannon for opportunity. Buffett’s a value hunter, and this cash gives him the muscle to pounce on undervalued companies or stocks when the market dips.

The Balancing Act: So, its defensive because its protected—cash shields it from chaos and keeps it stable with a beta of 0.87, less volatile than the market. But it’s offensive because that same cash is dry powder for explosive moves when the time’s right. Buffett’s not forced to act; he can wait out overpriced markets and strike when others are desperate. With over 189 subsidiaries and stakes in giants like Apple, Berkshire’s diversified engine keeps chugging, while the cash reserves give it flexibility to attack or hunker down.

In short, BRK.A’s $325 billion stash makes it a rare beast: a steady rock for tough times and a coiled spring for big wins. It’s playing both sides of the game—safe yet ready to strike.

Countdown to the AGM - 28 days until the unofficial capitalist Christmas - Berkshire Hathaway's Annual Shareholders Meeting, scheduled for Saturday, May 3, 2025.

Check out Blossom Social for all my stock / financial thoughts. The founder is a friend you can read about below.

💧 Friends of the Fountain: Building Blossom with Max Nicholson

You might’ve seen our recent Blossom plugs when talking about various investments, but last week we sat down with one of their founders Max to talk about how and why he founded Blossom Social.

When I first got on a call with Max, I couldn’t help but say it. “Your name sounds like you’re a knight.” It wasn’t a line, it was a gut reaction. His name has presence. But more importantly, so does he.

Max is the founder of Blossom, Canada’s fastest-growing social investing platform (which just launched in the states this past year) Over 250,000 people have joined the community to share portfolios, trades, and investment ideas.

Max and his co-founder Annika started Blossom when they realized most investing spaces were either exclusionary or built around hype.

Reddit threads. Meme stocks. Wall Street jargon. It wasn’t welcoming, and it definitely wasn’t built for long-term thinkers. He also highlighted how he had buddies to talk about investing, but Annika didn’t really have an outlet.

Blossom is community-first and built around transparency. Investors connect their brokerage accounts, so you’re not just seeing hot takes, you’re seeing real trades, entry points, and long-term positions.

It’s not about pumping the next penny stock. It’s about learning from others who actually walk the talk.

I asked Max who he likes following on the platform. He rattled off a few names: ETF Go, Jacobb, and a growing group of creators sharing incredible insights daily.

That’s the growing magic of Blossom. It’s not just importing content from elsewhere, creators are building their own voices on Blossom.

We also talked about what it takes to stay positive while building something from scratch. His answer was refreshingly simple.

I couldn’t agree more. We bonded over the book Why We Sleep by Matthew Walker, that shifted how I think about rest and recovery.

The old startup myth is that grinding through the night leads to greatness. In reality, being well-rested makes you a better leader, thinker, and human.

Naturally, we ended up on the topic of Berkshire Hathaway.

The consistency of returns, the cash on hand, the offense and defense built into the portfolio (as discussed above) it just makes sense. Max had been to an AGM and I tried to convince him to write Buffett a letter explaining Blossom, you never know might as well take a swing.

It was one of those conversations that reminds you why you build. Two founders in different chapters, but speaking the same language.

You can find Max (and me) on Blossom on the app store. He’s someone to watch, and someone I’ll be rooting for.