GO TO SPOTIFY

QUOTES:

First, I started with this tweet quite a while ago, and it went something like this: never be afraid to leave your hometown to grow. It's too easy to stay the same when the scene does. Your people love you as you are now, and they'll fear losing that. Your hometown will be there, but if you truly want to change, you need to go to a place that has changed.

One key determinant that will decide for most young people if they're going to be successful or not is economic interconnectedness, or economic connectedness.

There was a research study done on thousands of kids in neighborhoods that had the same socioeconomic demographics. Child A had the same economic background as Child B. One child was in Minneapolis, relatively poor, in a similar situation to another group in a different city that wasn't Minneapolis. What's really interesting is that the kid in Minneapolis, an economically connected city where people from high and low incomes interact, had a 33% higher income by age 35 than the kid from the same economic family in a less economically interconnected city. So, what does that mean? Being around rich people seems to help you become more affluent.

Perhaps you can be what you can see, and you cannot be what you cannot see. If you were born in a low-income neighborhood, you are more likely to stay in that neighborhood if your geography doesn't change. If you do not add different things and stay in the same place, you will largely remain the same as everybody else.

A learner has one ability without help and another with help from a more knowledgeable person. Basically, mentorship and seeing what you want to achieve is real. Statistically, if you are around more people who have what you want, you are more likely to achieve that. Paul Graham says roots grow where planted; your environment shapes your ambitions. Great cities attract ambitious people. If you want to create, maybe you go to Austin. If you want to make money, you go to New York or where Rachel is. If you want to be innovative, you go to Silicon Valley. If you want to reach the venture, you go to Silicon Valley. So, what if the reason you don't achieve what you want is because your surroundings do not allow you to insert different things into your "petri dish"? That's my belief.

Regarding how young people should operate, he basically said, “You should never be at home.” That's what I always tell young people—home is for seven hours of sleep, and that's it. You need to get out of the house.

We need to start separating what's enjoyable from what will actually get you to your goals faster. Virtue signalers on the internet want to say all the reasons why you can't be successful because of what has happened to you in life. I think that's your hero story. The more difficulty you've had, the more incredible your comeback story is once you overcome it.

It's really hard to beat the connection that comes from looking another human in the eye, shaking their hand, and realizing that you are real in some way, shape, or form.

52% of Americans say they want to live in a walkable neighborhood, but only 8% do.

I feel like this is a retirement home. I feel like this is what venture has done since the last bull run of 2009—reimagining the way we live. But what they're doing is creating retirement homes for young people. Let's raise $200 million for a glorified apartment complex. I don't know.

As a reminder, we think that the biggest secret to life isn't a hack; it's usually a "who"—a person. I didn't have a rich dad, so I didn't get someone to mentor me early on. Now I have a lot of rich friends, and I think we should steal their homework.

This could be a component of bias because we all left, and now we know a lot of people who are nomadic. But I think it's worth asking yourself: if the data largely says that to be successful, you need to leave at some point, even if you come back, why fight the trend?

The problem with staying in your hometown is that you remain around the set of beliefs you grew up with—the things your parents told you to believe in, the things your friends peer-pressured you into believing, and the things you thought you believed. You'll never question that until you are out of that environment.

I'm really interested in the butterfly effect of what happens when you do something so outside of the timeline you are destined for.

Maybe risk compounds. You start by taking the small risk of going to a new college, then a bigger risk by getting a job in a different city, then more responsibility, and eventually, you take the risk of starting a business and investing in assets. The more risk you take, if you're intelligent and learn from it, the more it compounds into success.

If there's something that you want to do, you have to be in a group of people who want that exact same thing. Otherwise, you will be called crazy.

I don't need to make 100 friends anymore because I just don't have the time to always explain myself to new people.

If everybody agrees with me, I'm too late. It's not that interesting. If a few people say no, then I'm probably in the right spot.

First, it's like “you're crazy”, then it's, "Hey, how's your little thing going?" and finally, "Hey, how did you do that?"

My ultimate goal in life, wealth-wise, is to be wealthy enough to hop on a PJ every so often, with the kids. I don't know if you've ever traveled with children—it's not great.

I went to your conference. I spoke at it. I was in the green room full of millionaires, and I think one billionaire. That day, entrepreneurially, a lot changed for me because I realized, "Holy crap, they're all smart." I realized that this is the level you have to be at to succeed, and it lit a fire under me to continually grind. If I want to be at this level, I have to operate like these guys. So I went asking questions.

I grew up in a family where money was very scarce, and I learned early on that making money is a skill. I decided to get as good as possible at this skill—a combination of 1,000 skills. In the quest to do that, I learned all kinds of things.

Now I think that connections are so important. I would definitely recommend that someone starting as a creator or building a startup should absolutely move to the hub of their niche. It could be for three months, or it could be for three or five years—try it out. I don't think it's mandatory, but it can accelerate your progress significantly.

You can also end up in a trap of having too many conversations and not doing enough work.

I made so many great relationships by just being willing to jump on a direct flight somewhere, spend a day doing that, and lining things up.

I have this concept called the "Ladders of Wealth Creation," which is my attempt to break down all the things I observed to be true about making money and building wealth, and then explain it systematically. It takes you through these ladders—from trading time for money, to having a job, then a services business where you're still trading time for money but learning new skills, to productized services, and ultimately into products. I try to teach that there are 1,000 skills to making money and building wealth. If you try to learn them all at once, you'll fail, or it will take an absurdly long time without any positive feedback along the way. Instead, if you break it down, move between ladders, and learn these small skills, you'll progress. For example, you and I might say, "Hey, let's start a new business, form an LLC—done, next, move on." But you don't realize that the first time you formed an LLC, it was actually really hard because you didn't know what you didn't know. The Secretary of State, registered agents—these things seem official and complicated at first. There are literally 1,000 of these things to learn—how to write copy, how to make a sale on the internet, how to show up and work consistently. If you try to learn them all at once, you'll fail. The "Ladders of Wealth Creation" helps break down how you can learn these skills throughout your career.

Everyone who's successful is showing up consistently for a very long period of time. They aren't saying, "Yeah, I worked on this every weekend for six months." They're saying, "No, every single day." They put the kids to bed and worked on this in the evenings, or got up early, or did whatever else was necessary. By "a long period of time," I mean showing up every day for two years to get even a minimum level of results. That's where your expectations should be.

One thing I want to point out is that leverage is not good or bad. Everyone talks about it like it's good, but it's not. It's a neutral force that magnifies whatever else is happening. For example, if we buy a bunch of stocks on margin, that's leverage, and it could go very well or very poorly. Leverage can also mean you spend 100 hours producing a course for your audience, and it makes a huge amount of money. But it could also mean you spend 100 hours creating a course, and it sells one copy, so you made $2 an hour. You have more opportunity to earn more as leverage increases, but if you go for something high-leverage early, the chances of failing because of a skill you didn't learn along the way are pretty high.

One of the things I hope they put on my obituary is that no city was my only home because I really think of myself as an American, not a native of any one place. You have to believe that you are something bigger than the place you were born into. Once you realize that, you don't have the ties usually associated with guilt and fear—what happens if I leave these people behind?

My Arizona is different. It isn't the green golf courses laden with tourist traps. It isn't Scottsdale, made for partying and spray tans. It isn't the better tax code and the Californians scrambling. My Arizona is wild. Its thunderclaps are so loud they shake the house. The heat is so intense that your shoes stick to the asphalt. The rain is so heavy that the smell of creosote rubs off on you. It's a state where the very electricity in the storm sets your hair on edge, and the dust storms are so big they block out the sun. We do nothing halfway. We're not a 40-mile-an-hour crew; we're zero to 120—whether it's our gun laws, our real estate market, or our hot sauce. Nothing is mellow around here. Texans like to say they're the toughest, but Arizona is where Geronimo surrendered. It's the land where the O.K. Corral saw the Wyatt Earp battle, the land where the West didn't need 10-gallon hats. I'd give those big-sky Lone Star states a run for their money—a seemingly little state with a big attitude. That's my Arizona. Just because it's a land you left doesn't mean it's a land you don't love. Never confuse the two.

Zrzeczenie się Praw Własności i Klauzula Użycia Edukacyjnego

Prezentowane na tej platformie treści, w tym m.in. transkrybowane cytaty, nie są naszą własnością. Wszelkie prawa i własność do opublikowanych treści należą do oficjalnych autorów i twórców odpowiednich kanałów YouTube i Spotify, z których pochodzą te treści. Materiał ten jest udostępniany wyłącznie w celach edukacyjnych. Nie rościmy sobie żadnych praw własności ani autorstwa tych treści i uznajemy, że pozostają one własnością intelektualną ich odpowiednich właścicieli.