The speaker argues that money is ubiquitous, contrasting the perception of scarcity when broke with the reality of abundance when rich. He outlines three essential principles for wealth creation. First is perspicacity: meticulously analyzing every spending decision to understand how money is made and transferred, turning routine transactions like buying coffee into lessons on business inefficiencies and opportunities. Second is network: deliberately surrounding oneself only with successful, money-focused individuals, as one's knowledge and opportunities are shaped by this circle, akin to a pack hunting with shared awareness. Third is brutal self-assessment to identify if laziness, stupidity, or arrogance is the primary barrier to wealth. He emphasizes that financial success is intensely competitive, pitting individuals against powerful, well-connected entities like billionaires and hedge funds. Ultimately, it demands relentless, non-stop work and constant vigilance, as complacency ensures failure in this high-stakes environment.
So the first thing you should pay attention, because if you pay attention you'll start to learn that money is everywhere. Every building is owned. These are skyscrapers. Billion, billion, billion, billions. Every apartment nowadays is a billion. Million, million, you drive down a street in London, you're driving past trillions of dollars. There's money everywhere. It's all around us. When I was broke, I thought that the world was broke. I thought that there was no money. And then I got rich and realized that I was completely not the wrong. There's so much money. It's everywhere. If I go to try and buy a plane or a jet, they're always sold out. My yacht is just fucking six-year waiting list. I want to bouquet, they launch it, the email comes to my email address, two minutes later gone. Like, there's so much money. If I want a diamond watch or a million dollar watch or a million dollar rocks, you can't get this stuff. There is so much money out there. Once you get to a certain echelon, you realize there's money fucking everywhere. There are three keys I believe to making money. The word of the day. First one's perspicacity. Most people go through life and they do not pay attention. I've said this before and I want to stick by it because it's so important. You need to pay attention to every single time you spend money because you cannot make money. You're not the Federal Reserve, you're not a government. Government's make money. All of us take money from somebody else or a business or a government. We take money from other things. So the easiest way to learn how to get good at taking money is to pay attention to every time someone takes money from you. So next time you buy a coffee, don't just buy the coffee and drink it and think nothing of it like every brokeie. Don't do that. So, okay, why am I buying this coffee? Okay, I want a coffee. Why am I buying here? Well, this is all my way to work. Is there any competition around? Do I also want breakfast? Do they sell breakfast? No, they don't sell breakfast. They could probably make some more money there, so I'm breakfast. Anyway, I walk in. There's a long line. Why is there one member of staff? I'm low on time. I'm about to leave and not buy the coffee. They're about to lose money because it's taken too long. Most of people in this line are businessmen. Why is it not a cute girl buying the counter? But if they pay a cute girl a little bit more, they'd still make a bunch more money because people come in here to talk to her. Think. And then what you'll do is as you go through life every time you spend money as you'll realize. The problem is not how to make money. The problem is how much time you have because there's endless business ideas. There's endless ideas. I walk into a coffee shop and by the time I've walked out, I already know exactly how to open up next door and how to compete them head to toe. I already have worked out how much is the rent? Where are they fucking up? What are they not selling that should be selling? What are they doing good? Where they doing bad? This chair is too hard. I'll wreck them. And I'll send them to now my network is so powerful, which is the second point network. It's hard to make money if you don't know anybody who has money. If you sit in a room full of ice cream experts and all they talk about is ice cream. How to make ice cream, different flavors, how to store it, how to move it, how to sell it. Even by accident, if you hang around with these people long enough, when someone asks you a question about ice cream, that's what you're going to know the answer. You're going to say, you know what? That's because it's stashio and that needs to be two degrees higher chocolate. And you're going to look a smart ass. So if you sit in a room full of people who make it a bunch of money, everyone understands this, your network is your network, you're the sum of the five people you spend the most time with. Everybody understands this, and then they still hang around with fucking losers. Because they're dummies. You're right. I am the sum of the five people I spend the most time with. Anyway, this is my friend Nick. He's so funny when we go drinking because he gets really drunk. I don't talk to anybody who is not winning. Everybody who's phone, every phone call I will answer if I answer a phone call is from a winner. I don't talk to losers. Everyone I talk to is rich. Everyone I talk to is making money. Everybody. If my entire reality is full of multi-millionaires making money, how am I not going to make money? And this is why network is so important is because it's the same reason that wolves hunt in packs. If you're a lone animal, you have one set of eyes. If you're a pack, you're watching every single angle I was going to sign. Perhaps I might miss something. I miss perspicacious as possible. But one of my friends identifies that the war in Ukraine is going to change. And the Russian rubles are not going to make a bunch of money. And for it's dream. For example. I may not know this, but he'll know this. Now I've made a bunch of million dollars to get a text message. Right? Because I have friends who are paying attention. All of us are paying attention. So your network is super important as a motherly. And third, it's to identify the reason why you don't have as much money as you want so far. And there's one of three reasons. You are either lazy, stupid or arrogant. There's only three reasons anyone's born. And you have to identify and choose which one it is. The majority of people are not the one they think they are. The majority of people are the one I'm not going to say it to. So let's start with lazy. There are a lot of lazy people. The unfortunate reality about money is that you are competing. So it's player versus player. It's like anything. If you want that beautiful girl, so does everyone else. You have to win the competition. You want that car? You have to get it first. You want that money. Everyone wants that money. You have to compete. It's competitive. Business is competitive. You are competing against people like me. You are competing against people like the people in my network. I'm thinking about people who only talk about money. You understand money very well. You operate in jurisdictions all around the planet. You are extremely well connected. You know things before you know them. You have mass influence and mass power and mass resource. You are competing against me. This is what you must understand. You are not waiting until I want to make some money. You are competing against billionaires, competing against hedge funds. I think these hedge funds do. Where do they get that money from? From the brokeies. They are robbing you. They are robbing all the poor people from the pension fund. That's where they get it from. This is where you compete against. The competition is absolutely an art of fierce. Understanding that you are a man with a small pistol up against a mighty army. If you want to add a little bit of laziness on top, you are fine. So when I say people are lazy, they go, "I'm not lazy. I work hard every day." You work eight hours a day. (laughs) If I'm awake, I'm working. I'll be driving my bagaddi shiro on through the buy. Working! I'm texting at the same fucking time. I don't take a second off. I don't take a minute off. I don't relax. I don't rest. I don't stop. I don't chill. None. Ever. I need to asleep, or at work. That's it. Second, I wake up. I check my phone. I begin working. I live in the gym and between sets, I am working. I'm online working the entire fucking day until the second I go to sleep, I am at work. That is all I do.
Podcast Summary
Key Points:
Money is abundant and pervasive in the world; scarcity is a perception often held by those without wealth.
Three keys to making money are
Success requires relentless effort and awareness of intense competition, as you are competing against highly resourceful and connected individuals and entities.
Summary:
The speaker argues that money is ubiquitous, contrasting the perception of scarcity when broke with the reality of abundance when rich. He outlines three essential principles for wealth creation. First is perspicacity: meticulously analyzing every spending decision to understand how money is made and transferred, turning routine transactions like buying coffee into lessons on business inefficiencies and opportunities.
Second is network: deliberately surrounding oneself only with successful, money-focused individuals, as one's knowledge and opportunities are shaped by this circle, akin to a pack hunting with shared awareness. Third is brutal self-assessment to identify if laziness, stupidity, or arrogance is the primary barrier to wealth. He emphasizes that financial success is intensely competitive, pitting individuals against powerful, well-connected entities like billionaires and hedge funds.
Ultimately, it demands relentless, non-stop work and constant vigilance, as complacency ensures failure in this high-stakes environment.
FAQs
The first key is perspicacity, which means paying close attention to every financial transaction, especially when you spend money, to understand how money flows and identify opportunities.
A strong network is crucial because surrounding yourself with successful, money-focused people exposes you to valuable insights and opportunities, similar to how a pack of wolves hunts more effectively together.
The three reasons are being lazy, stupid, or arrogant. The speaker emphasizes that most people are not self-aware about which one applies to them.
Making money is highly competitive, akin to player versus player, where you are competing against savvy individuals, billionaires, and hedge funds who are constantly seeking financial advantages.
The speaker uses buying coffee as an example, suggesting you should analyze the business—like staffing, competition, and customer needs—to spot inefficiencies and potential opportunities.
The speaker asserts that money is everywhere, citing examples like skyscrapers, luxury items, and high demand for jets and yachts, emphasizing that scarcity is a perception, not reality.
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