Thanks very much for your insight and book recommendations. I will definitely read them. I am serious. I have some experience with small business valuations, and, as you point out, it will likely be a long, difficult search for the right situation. It's complicated by the fact that small business financials can be easily misrepresented.

Maybe the best SNL ever. Nice job getting Bailey. You both handled yourselves well. Good balance between respecting the fact that he showed up while confronting him on as many issues as possible considering the setting and time constraints. Kudos

Fantastic post, and congrats!

Very true.

I still love this. I watched the original TV show as a kid.

I'm hoping that stackers who have.been around for a while might decide, rather than sell for fiat, to spend some of their profits on the LN network. It's a private, no kyc way to enjoy their sats.

How about btc miners that will never break even in an expensive power area? That should count, right?

It is hard. I live near an enormous city, and there are very few businesses who accept it. I think PubKey in NYC only gets about 5% of sales paying in bitcoin. It has been a while since I visited, but the general consensus then was "save your SATs, spend fiat." I hope that philosophy has changed.

You're in good company. Our fearless leader, @k00b is thinking the same thing. Read through all the replies, and you can hear about my limited laundromat experience too.

Beautiful, but it would scare the hell out of me if I ran into one.

Its funny you mentioned a laundromat. I thought of that. My dad bought a laundromat in the early 1970s. It was mostly self service, but we did have an employee who did service laundry for people who worked. My job was to keep enough quarters painted with red enamel nail polish to identify the quarters used by our employee. It didn't go well. No one in our family has any mechanical repair abilities. The machines needed a lot of maintenance. He sold the place quickly. I understand the modern industrial machines are much more reliable.

In a perfect world.

Exactly. Gladstein is the perfect political bridge.

You nailed it. Curation is the key. If the coffee shop is in a young, progressive urban setting maybe I shouldn't start shoving Hayek down their throats day one! I wouldn't sell much coffee.

For the privacy conscious, buying a real book, in person, without revealing your identity is a big deal. It might be an even bigger deal in the future. Nowadays you don't own kindle books, and even hosting your own content has drawbacks and points of failure.

I have a friend who actually acts like Larry David, and doesn't even realize it. There are Larry Davids all over New York.

YOU pull it off, and it's a worthwhile endeavour

From what I know about you you're more experienced in analyzing this stuff than me. I have been involved in a few business buys in the past, and I automatically build in a pretty high bullshit assumption when talking to prior owners. No matter what they say, I always assume it will be a major turnaround project.

You're right. If I pursue this half cocked I will just stress myself out. I want to partner with young, enthusiastic bitcoiners. Regarding type of business, I have toyed with the idea of an independent coffee shop with an existing local presence in a high density, walkable neighborhood. Pacchia located PubKey in a space that had been a local dive bar, under different management, for years. I would want a decent sized space to hold bitcoin meetups, and attract guest speakers for events. I would ideally also like a small book selling section (real books!) selling bitcoin, libertarian, and bitcoin adjacent titles. Maybe also sell a few solo miners and (factory sealed!) hardware wallets? I don't have any definite plans yet.

I haven't settled on a definite plan, but I will probably look to partner with younger, more energetic local bitcoiners. I have met a few through meetups.