[Chorus]
A powerful form of leverage
Is capital
Is capital
Is capital
A powerful form of leverage
Is capital
Is capital
Is capital
And this one's a little less hardwired into us because large amounts of money moving around and being saved and being invested in money markets, these are inventions of human beings in the last few hundred, to a few thousand years
They're not evolved with us from hundreds of thousands of years
So we understand them a little bit less well
A powerful form of leverage
Is capital
Is capital
Is capital
A powerful form of leverage
Is capital
Is capital
Is capital
And this one's a little less hardwired into us because large amounts of money moving around and being saved and being invested in money markets, these are inventions of human beings in the last few hundred, to a few thousand years
They're not evolved with us from hundreds of thousands of years
So we understand them a little bit less well
Fortunes require leverage
Business leverage comes from capital, people, and products with no marginal cost of replication
[Chorus]
Give me a lever long enough and a place to stand and I will move the Earth
Give me a lever long enough and a place to stand and I will move the Earth
Give me a lever long enough and a place to stand and I will move the Earth
Give me a lever long enough and a place to stand (and I will move the Earth)
Leverage is critical
We all know what leverage is when we use a seesaw or a lever
We understand how that works physically
Business leverage comes from capital, people, and products with no marginal cost of replication
[Chorus]
Give me a lever long enough and a place to stand and I will move the Earth
Give me a lever long enough and a place to stand and I will move the Earth
Give me a lever long enough and a place to stand and I will move the Earth
Give me a lever long enough and a place to stand (and I will move the Earth)
Leverage is critical
We all know what leverage is when we use a seesaw or a lever
We understand how that works physically
[Intro]
You can't blame it on the steward or the stewardess
You can't blame it on the co-pilot
You're the captain, you're responsible for this ship
You can't blame it on the steward or the stewardess
You can't blame it on the co-pilot
You're the captain, you're responsible for this ship
Accountability
Accountability
Accountability is important because that's how you're going to get leverage
That's how you're going to get credibility
It's also how you're going to get equity
You're gonna get a piece of the business
When you're negotiating with other people, ultimately if someone else is making a decision about how to compensate you, that decision will be based on how replaceable you are
You can't blame it on the steward or the stewardess
You can't blame it on the co-pilot
You're the captain, you're responsible for this ship
You can't blame it on the steward or the stewardess
You can't blame it on the co-pilot
You're the captain, you're responsible for this ship
Accountability
Accountability
Accountability is important because that's how you're going to get leverage
That's how you're going to get credibility
It's also how you're going to get equity
You're gonna get a piece of the business
When you're negotiating with other people, ultimately if someone else is making a decision about how to compensate you, that decision will be based on how replaceable you are
Embrace accountability and take business risks under your own name
Society will reward you with responsibility, equity, and leverage
To get rich, you're gonna need leverage
Leverage comes in labor, it comes in capital, or it can come through code or media
But most of these, like labor and capital, people have to give to you
For labor, somebody has to follow you
For capital, somebody has to give you money or assets to manage or machines
So to get these things, you have to build up credibility and you have to do those under your own name as much as possible, which is risky
Which is risky
So accountability is a double-edged thing
It allows you to take credit when things go well and to bear the brunt of the failure when things go badly
Society will reward you with responsibility, equity, and leverage
To get rich, you're gonna need leverage
Leverage comes in labor, it comes in capital, or it can come through code or media
But most of these, like labor and capital, people have to give to you
For labor, somebody has to follow you
For capital, somebody has to give you money or assets to manage or machines
So to get these things, you have to build up credibility and you have to do those under your own name as much as possible, which is risky
Which is risky
So accountability is a double-edged thing
It allows you to take credit when things go well and to bear the brunt of the failure when things go badly
Business to me is bottom of the barrel
There's no actual skill called business
It's too generic of a thing
It's like a skill called relating, like relating to humans, that's not a skill, it's too broad
So a lot of what goes on in business is essentially just anecdotes
They call it case studies, but it just anecdotes
And they're trying to help you pattern match by throwing lots of data points at you, but the reality is, you will never understand them fully until you're actually in that position yourself
(Until you're actually in that position yourself)
[Chorus]
You can always learn better by doing it on the job
By doing it on the job
By doing it on the job
You can always learn better by doing it on the job
By doing it on the job
By doing it on the job
There's no actual skill called business
It's too generic of a thing
It's like a skill called relating, like relating to humans, that's not a skill, it's too broad
So a lot of what goes on in business is essentially just anecdotes
They call it case studies, but it just anecdotes
And they're trying to help you pattern match by throwing lots of data points at you, but the reality is, you will never understand them fully until you're actually in that position yourself
(Until you're actually in that position yourself)
[Chorus]
You can always learn better by doing it on the job
By doing it on the job
By doing it on the job
You can always learn better by doing it on the job
By doing it on the job
By doing it on the job