Hearted Youtube comments on James Jani (@JamesJani) channel.
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The moment someone says that working hard is the way to success, he is either a hypocrite or has no grasp on economics. It is all about the value a person provides, that the market wants in exchange for money. Someone can dig holes by hand all day long, there is no value in it and hence there is no substantial pay. There is a limit to how hard someone can work and a man can put in 100 working hours in a week, but he cannot put in 200. Besides, sleeping is not time wasted. That's when the body regenerates, muscles grow and the brain flushes - both metaphorically and actually. The role of chance and luck in succeeding is much more dominant, than people realize, but the Western mentality is to be in control, which is laughably arrogant. To quote a great general - your goal is not to die for your country, but to make the enemy do it. Thus, to get rich you need hard work, but not your own - that of other people. As I said, you cannot put in more than 168 hours of your own, but you can put in thousands of times as much - that of other people. In conclusion - don't trust people, especially those pretending to help you. What is more plausible - they are looking to create independent competitors or dependent minions?
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One aspect you missed is that the hussle culture is extremely ableist. As someone with debilitating mental health issues I've been sucked into this 'work hard to succeed' trap just like anyone else can be, except that when the inevitable burnout comes it can turn into crushing low self-worth, depression, and suicidal ideation. Those gurus love to preach that "anyone can do this! You just have to be passionate!" But there are certain conditions some people have that no matter how much passion they have, they simply cannot push themselves to the brink and survive, let alone thrive. This "push push push" mentality can and does actually break some people.
"Contrary to popular opinion, quitting is for winners.
Knowing when to quit, change direction, leave a toxic situation, demand more from life, give up on something that wasn't working and move on, is a very important skill that people who win at life all seem to have." ~unknown
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If this channel was a stock, I'd put a lot of money in it. Wait, I'm still at wealth level = nothing. :-(
Also, here's my summary (I always summarize the videos I consider most useful):
• Check your beliefs about money.
○ Money is not bad, don't buy into that stereotype.
○ Studies: Most millionaires are self-made.
• Your equation ("money = salary from a job") is wrong:
○ How much u earn from ur job depends on the time u put in
- e. g. $20/h fulltime job -> 24 yrs to $1M (before expenses!)
○ Time = most precious resource -> that's a bad deal!
• Rules of the game in a capitalist society:
○ You're paid in proportion to your perceived value (= equation to wealth)
- The ppl that perceive ur value = the market (aka everyone)
- It's about supply & demand (think: utility/value, price, efficiency, excess/scarcity etc.)
- It's not about how hard u work, your passions etc.; the market doesn't give a fck
□ That's why e. g. celebrities are paid more than cleaners
- Pivotal question: How can I increase my (supply's) perceived value?
○ All money runs from this premise: If u want money, solve problems.
- Million-dollar problems -> million-dollar solutions etc.
- Always start w/ the problem: Listen to the market around u
- What do ppl say they dislike/wish existed/is inconvenient/frustrating etc.?
- Tip: Solving more/better problems @work = lever for a higher salary
• A problem worth solving
○ Scalability: solution needs to affect a magnitude of people
- e. g. physical yoga classes (job) -> online course (business)
○ Automation: systems/processes keep ur business running like a smooth machine
○ If it financially makes sense, outsource tasks or hire ppl to do it for you
○ Make sure your solution can be accessed by everyone in your market
• The reward (two paths):
○ Continue the business for whatever reason (e. g. stick w/ ur baby; add more value to it; runs passively in the background)
○ Cash in, e.g. eBay's acquisition of PayPal for $1,5B (ca. 10% -> Elon's pockets)
• What was it all for anyway?
○ It's not about the money itself (whose value is only backed up by our belief in it anyway)
○ It's about freedom -> ability to do what u want whenever u want w/o having to worry ("can I afford this?", "have I used up all my holidays this year?" etc.)
○ In the end, it's about the most valuable resource that we cannot rebuy: Time!
• Conclusion:
○ Stop chasing money. Chase problems. Find solutions. Build a business around it.
- Let solving problems be the meaningful struggle in your life!
○ Keep in mind: Most attempts will not succeed
- Fail fast & move on to the next thing
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