All the benefits in life come from compound interest Whether it's in relationships
Or making money
Or in learning
Compound interest is a marvelous force
You know you start out with 1x what you have
And then if you increased 20% a year for 30 years
It's not that you got 30 years times 20% added on
It was compounding so it just grew and grew until you suddenly got a massive amount of whatever it is Whether it is goodwill, love or relationships or money [repeat]
All the benefits in life come from compound interests All the benefits in life come from compound interests Long-term games with long term people
Or making money
Or in learning
Compound interest is a marvelous force
You know you start out with 1x what you have
And then if you increased 20% a year for 30 years
It's not that you got 30 years times 20% added on
It was compounding so it just grew and grew until you suddenly got a massive amount of whatever it is Whether it is goodwill, love or relationships or money [repeat]
All the benefits in life come from compound interests All the benefits in life come from compound interests Long-term games with long term people
Let’s look at this next tweet
Which I thought was cryptic and also super interesting
About the kind of job or career
That you might have
You said
“The Internet has massively broadened the possible space of careers
Most people haven’t figured this out.”
The fundamental property of the internet
More than any other single thing
Is it connects every human to each other human on the planet
You can now reach everyone
Whether it's by emailing them personally
Whether it’s broadcasting to them on Twitter
Whether it's by putting up a website that they can access
Which I thought was cryptic and also super interesting
About the kind of job or career
That you might have
You said
“The Internet has massively broadened the possible space of careers
Most people haven’t figured this out.”
The fundamental property of the internet
More than any other single thing
Is it connects every human to each other human on the planet
You can now reach everyone
Whether it's by emailing them personally
Whether it’s broadcasting to them on Twitter
Whether it's by putting up a website that they can access
You're not going to get rich renting out your time
But you say that you will get rich by giving society what it wants
But does not yet know how to get
At scale
That's right
We talked about before money is IOUs from society saying You did something good in the past
Now here's something that we owe you for the future
And so
Society will pay you for creating things that it wants
That society doesn't yet know how to create those things
But you say that you will get rich by giving society what it wants
But does not yet know how to get
At scale
That's right
We talked about before money is IOUs from society saying You did something good in the past
Now here's something that we owe you for the future
And so
Society will pay you for creating things that it wants
That society doesn't yet know how to create those things
Akira
He's got clout
People who are living far below their means
Enjoy a freedom that people busy upgrading their lifestyles just can't fathom And I think that's very important
Like just do not upgrade your lifestyle all the time to maintain your freedom And it just gives your freedom of operation
Once we make a little bit of money you still want to be living like your old self So that's just the worry goes away
So, don't run up and upgrade that house
Lifestyle and all that stuff
Let's say you get $1,000 an hour
The problem is that when you go into a work lifestyle like that
You don't just suddenly go from making twenty dollars an hour to
He's got clout
People who are living far below their means
Enjoy a freedom that people busy upgrading their lifestyles just can't fathom And I think that's very important
Like just do not upgrade your lifestyle all the time to maintain your freedom And it just gives your freedom of operation
Once we make a little bit of money you still want to be living like your old self So that's just the worry goes away
So, don't run up and upgrade that house
Lifestyle and all that stuff
Let's say you get $1,000 an hour
The problem is that when you go into a work lifestyle like that
You don't just suddenly go from making twenty dollars an hour to
Akira he's got clout
The first point was about how you're not going to get rich
You're not going to get rich renting of your time
You must own equity a piece of a business to gain your financial freedom
This is probably one of the absolute most experienced points
People seem to think that you can create wealth and make money through work It's probably not going to work there are many reasons for that
But the most basic is just that your inputs are very closely tied to your output In almost any salaried job
Even the one that's paying a lot for our like lawyers or a doctor
You're still putting in the hours and every hour you get paid
So, what that means when you're sleeping you're not earning
When you're retired you're not earning
When you're on vacation you're not earning
And you can't earn nonlinearly
You're not going to get rich renting out your time Renting out your time
The first point was about how you're not going to get rich
You're not going to get rich renting of your time
You must own equity a piece of a business to gain your financial freedom
This is probably one of the absolute most experienced points
People seem to think that you can create wealth and make money through work It's probably not going to work there are many reasons for that
But the most basic is just that your inputs are very closely tied to your output In almost any salaried job
Even the one that's paying a lot for our like lawyers or a doctor
You're still putting in the hours and every hour you get paid
So, what that means when you're sleeping you're not earning
When you're retired you're not earning
When you're on vacation you're not earning
And you can't earn nonlinearly
You're not going to get rich renting out your time Renting out your time