STOP Chasing Money -- Chase WEALTH. | How To get RICH | Garry Tan's Office Hours Ep. 4
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- Опубликовано: 18 июн 2024
- A lot of you say you want to get rich. But what you really want is wealth. Find out why in this video.
Stop wasting your life: • LEARN, EARN or QUIT | ...
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0:00 Overview
1:04 What is wealth?
3:07 Focus on skills
8:29 Don't sell your time!
11:45 Create a wealth machine
I’m Garry Tan, venture capitalist and founder at Initialized Capital. We were earliest investors in billion dollar startups like Coinbase and Instacart, and I’m a Forbes Midas List Top 100 venture capitalist in the world. We want these videos to be about helping people build world-class teams and startups that touch a billion people. Our startups have gone on to create more than $100 billion in market value so far, and Initialized has over $770M in assets under management.
Please like this video and subscribe to my channel if you want to see more videos like this!
Find me on Instagram where I can answer your startup advice questions by DM -
/ garrytan
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![Unconventional Advice for Founders [Entire Talk] - Garry Tan (Y Combinator)](http://i.ytimg.com/vi/Y4yMc99fpfY/mqdefault.jpg)
“the path to wealth is making others happy”
Can you explain once
@@rajeevv135 it’s a quote from the video. he explains in the video.
@@rajeevv135 if you provide services that make people happy, they will always want more, which means they’ll come back. Its almost like your favorite place to eat, you always go back because the food is so good.
Key points:
1.Find a problem
2. Try to solve it
3. Get good at it (talent & creative)
4. If you succeed on the points above you will become wealthy
Selfless service will make you happy and selfishness is the source of our suffering
Or...making them believe they'll be happy by buying your service/product.
This is deep. I watch it over and over. Each time, I learn something.
- create a machine/process/business that makes money while you are sleeping. Trading time for a paycheck then get taxed at 40% is no way to wealth. This is where vast majority people are.
Yup, the 9 to 5ers.
True
Make money work for you. 🤑
@@AFulfilledLife i agree
money never works for you. There is always somebody who puts in the work at one end. The only way to make the world a better place is to add value in one way or the other. Building a money machine should always be something that adds value to the system as a whole, even if for a long time it only collects money. And where does this new value come from? It is out of the abundance we all have access to if we want to give instead of taking. It's working counterintuitive and therefore so hard to get by everyone. A fully automated world (value from nature/physics/the sun...) combined with everybody serving each other to the best of his/her abilities would be a good start.
6:09 If you can do things nobody else can do, your skills are priceless
7:06 Acquire skills that nobody else has, especially in combinations that are rare
8:53 That's why we made a computer -- because we wanted one and there wasn't one - Steve Jobs
10:03 Wealth is about positive-sum games (not finite games like selling your time)
10:26 We have limited time, but if you make a product, it can make money while you sleep (that's leverage)
11:23 You can be a creator instead of a consumer
11:37 The path to wealth is to make others happy and solve their problems
11:50 Create a wealth machine (compound interest)
13:37 When customers love you, they tell other people and you get more customers
10:40 story reminded me of a quote from Viktor Frankl:
"When a person can't find a deep sense of meaning, they distract themselves with pleasure."
Very true...
Thats true. My coach is currently teaching individuals and companies the secret on how to make income from the stock markets. I started making income from the stock markets after learning the secret strategy
How can i learn the secret strategy from your coach
Lewis Aron Coach
Make research about him now using your preferred search engines to connect with him on his portfolio
This is the best self help video I have ever seen. No bull. No cliches. No platitudes. No abstraction. Very real.
Long story short don't chase money Chase needs. Find out what people want and give it to them
thank you
How do you know what people want? First you can look at what people are buying. 2nd you can tell them why something new will fulfill their desires. This is much harder but more rewarding if successful
@@FaCiSmFTW find a problem and come with a solution
When you stop learning , you get left behind . Never stop educating yourself
This is the FIRST time i am seeing this channel ....... and this person. I am deeply in love with his enthusiasm .. not to mention his knowledge and achievement. I cannot even explain in words how grateful i am to be seeing this. CHEERS and regards, Nick Tan.
I'm going through the lowest point of my life and this gives me the positivity to move forward
I do not know you! But I have been through my lowest time. I would say i am in a better position. It’s been a year since your comment. I hope you are in a better situation now! If not you will be there. I believe in you! Keep the consistency.
I'm from Kinshasa, Congo(Africa). I feel like a gifted student to watch you, Garry
Thank you!
Kinshasa represents!!!
It's really a great video.
I need Cobalt. I will make you very wealthy💰
@@GarryTan You're welcome, Sir
I'm so happy I found you! I'm working to start a firm and taking small steps to do so. Videos like these really reinforce patience and the proper mindset one needs to have in the journey to conquering a large undertaking. Thank you! I happily subscribed ♥
Rewatching this. There are some videos here on RUclips that need rewatching over and over again. This is value. Pure value.
I really appreciate your genuine guidance Gary. And I love how you incorporate philosophy into your subject matter as it is the basis on which everything is built. Allan Watts is awesome and I too don't want to be a slave to consumption...
This is literally the best recommended 15 mins and 32 secs vid youtube gave me
the best youtube video I have seen in 2021 so far. Thanks Garry
The reason I love Gary Tan from my East African hood is cause hes real truth is universal . Everything he said works just as well here too . And we are tired of too many "get rich quick" scammers who do not deliver but try to con their way to riches themselves by selling bogus content . Keep it up bro . We shall support in any way we can .
It's so rare to finish a RUclips video and feel like you genuinely learned something. Your videos give me this feeling consistently. Thank you!
i absolutely agree
mind blowing ====> above the API vs below the API!!!
I have traded the stocks a while to understand the differences between DIY vs Consultancy/Investment Advisory and you can bet your bottom dollar that I am impressed with the methodology of an investment adviser like yours. Teslas Are Rare. Keep it up!
This separates the wheat from the chaff. Powerful material. One of the best videos on wealth creation I’ve seen. Thank you!
Thank you Garry. The best 15 1/2 mins of advice every aspiring creator should take to heart. Wealth mindset > chasing money
This is one of the most valuable content on youtube ever! I realized that even I heard many times familiar advices before, the truth is that I’ve forgotten about what the truth is important. Thank you, Garry!
True!
His WORDS speaks Volumes because they are from his HEART ❤️ knowledge and Wisdom ...it’s not about money for him ...he is not trying to Sell u anything that’s the beauty of it All ...RAW TRUTH !!! the End Mic 🎤 drop
Every thought I had over the years, that echoed within me to be a creator...all was answered by just this one video...I feel happy to my soul, that I was in the right mindset all this time!Thanks a ton bro!
LOVED THIS
I find that a lot of people meander through life just taking whatever position / role gives them the next promotion or pay raise. They're not trying to become a master of any craft and it shows.
Best thing I discovered today while I am still seaching what to do next after being unemployed.
Thank you for these lessons. Know that you are appreciated. Once I build my product I'm coming straight to your team. Keep up the excellence Brian!
Hey Garry, I've been watching and linking this video to friends since you uploaded it, so good. I don't think we thank you enough for the insight you are providing in here. Cheers and happy new year!
Garry thank you, as a business man I have watched lots of videos and never felt moved to comment. To anyone looking for sound advice for getting started in today’s economy 2021 Garry is providing the most useful content I have encountered. Give Thanks Sir, you are doing a great job🙏👍🎁
Thanks a lot Gary... This was extremely helpful, I was at the point where I was choosing between refining my craft or fixing pressing bills, thanks for the advice, helped me find my resolve.
Thanks for making the video. As a lifelong craftsperson and more recent entrepreneur it was really nice to hear your articulation of these concepts.
Dude, you are concise, relevant and hit the poor impulses that need to be addressed. Thank You!
I am getting this video in my recommendations every now and then for last one year. But finally watched it. Great information, crisp and clear. Thanks for sharing Garry.
This is a great video and help for those people with enterpreneurial skills and dreams. Thanks Garry for producing such an informative and essential video to assist people and open their eyes and minds at understanding the limitations of your time and the real meaning of wealth. Kudos and wishing you all the best.
Had to watch it again. This is truly deep and accurate. Btw I'm finally reaching the profit margins I was striving for in our startup!
These videos are so great. Love the way Garry speaks. Much truth, honesty & belief. Makes you want to listen.
This is such a good revelation of wealth that you made here. Stumbled on your video in the middle, thinking about my new startup and my team on moving to the next level. Thanks for making this.
SO GOOD
fancy seeing you hete
🙏🙏🙏 high praise omg
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@@Maria-vk6pd I know this broker. He is damn good. My first investment option during the pandemic was with him, a short-term investment anyway, i made around $450 weekly.
Connect through e-Mail to seek his expertise on starting an investment option.
This is one of the best videos I've ever seen. Great job Garry!
I am struggling to find my career...as a music composer/recording for 20 years now as a passionate hobbie this got me thinking. Thank you very much.
I like the way you explained about someone is buying your time and you're buying stuff that makes you feel better. I'm thinking that I'm in that particular situation right now. Thank you for sharing this keep safe and God speed!
Wow. Clear. Concise. Tons of Value. Happy to have subscribed. Excited for more!
When you build wealth, you may be in a better position to pursue the lifestyle you want. Your life can become one of possibilities rather than one of limitations.
The wealth you pass to the next generation can have a profound impact on your heirs, providing educational opportunities, the capital to start a business, or financial support to your grandchildren.
To manage investment risk, consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your financial goal. Remember, diversification is an approach to help manage investment risk. It does not eliminate the risk of loss if security prices decline.
Because investing can be complicated, consider working with a financial professional to help guide you on your wealth-building journey.
The decision to invest is an acknowledgement that it comes with certain risks. who are you working with ?
Tamara Diane Hagan does a perfect job for me. Look her up
I love the quality that all your videos have....its refreshing. Keep puttin out the fire content man!
Hey, thanks for these perspectives in our lives! One of the most valuable channels on RUclips. Just started programming and engineering my mind to solve real world problems and to get wealthy. I want to have an impact on this world!
Thank you for this. As someone looking for my next big adventure, I find this video super insightful and helpful.
LITERALLY the best video I've watched in about half a year. Thanks brother:)
I really like the way you mentioned the cycle of talent, customers and capital.
I had an answer to a problem for offline retailers. I had the plan ready, customers were willing to approve it but I didn't have the right people (Talent) and capital to work with. A year later when lockdown happened, people started recognising the idea and built a startup around it. I follow it until today and am happy for 2 things
1) the idea is growing rapidly. Happy to identify an opportunity
2) saved my capital which is very limited in front of the company who started it and saved myself from being crushed.
But it taught me alot. I am discovering ideas and will start a business of my own with the saved capital and right people.
Thank you for your videos. They are very helpful.
I just subscribed to your channel Mr. Tan. Seemed I was drawn to it when you made the reference about the janitor occupation, because that is my current work position. I am grateful but know I'm made for something better. On a quest to find out what truly makes me happy. I think that's a pretty good starting point. Continued success to your channel. ✌
Torn between commenting for the algorithm and writing a heartfelt thank you message. Anyways, thank you Garry, very helpful once again.
Thanks for the amazing knowledge Garry! Really good stuff!
Oh my god, this video just blew my mind. Everything about this video is just so valuable!
I am pleased that I opened this video. Garry said something that resonates with me. I am also a believer that to build wealth from a zero one needs to learn and master the "crafts" highly valued by society.
Thank you Gary! Another valuable advice!
Great job Gary. Ever since the pandemic, my mindset truly change. I wasn’t happy before because I was chasing money. And money gave no satisfaction. It’s just temporary. But wealthy mindset does.
Thank you for watching!
This is the answer I'm looking for, you put it in a well-thought-out perspective. Thanks Garry.
this channel is a goldmine of knowledge. Thank you so much Garry
This was so helpful, it was like next version of Naval's podcast! So wise and at the same time very practical!
thanks for the great insights to chew on!
Thanks for producing these incredibly educational content, Gary.
Create a system with a reinforcing feedback loop = exponential growth
*The difference between being rich and wealthy*
That's because rich people spend a lot of money, but wealthy people save and invest most of their money. Wealthy people might have lot of money, but they don't spend it all in one go. ... Instead, a wealthy person saves as much money as possible and invests assets.
@@nathancook8325 you're so correct sir , being wealthy is not the amount of luxury cars and houses you own but how many investments and assets you have
@@davidcarl7812 I retired at 53 and have made millions over the years of my investments in crypto..... And now venturing into real estate
@@nathancook8325 wow that's awesome, I have always known that crypto investment is the fast financial growing scheme, but don't really know about the market . Need someone to guide me through
@@Minuteness1All my trades is managed by one expert broker Mr James Powell, I really recommend him to anyone. The problem people encounter today is untrusted brokers that doesn't really know the best and right way to invest and at the end of the investment you loose everything
Garry You're the best. We can't thank you enough for this content.
Thanks for watching!
Thanks Garry, one of the most enlightening video i have watched for a long time.. i am in that vicious loop of getting paid for my time and trying to find a way out of it...
Thank you!!! I like your vibe... appreciate the encouraging words at the end
Thanks Garry, these words are deep.
A great book that covered the subject is the Fastlane millionaire by MJ Demarco
Yeah, it's really good
Thank you, Garry Tan.. I just stumbled on your RUclips last month.. Love your content.. Keep it up
Thank you, i just found out your channel. This is one of the best, most helpful and straight up channel out there.
API kind of reminds me of a talk I went to, a while back explaining how platforms, communities, marketplaces and ecosystems were the future.
In 15 minutes you have managed to differentiate yourself to such extent that most of the channels preaching & teaching around these topics seem obsolete. This will generate wealth. Thank you for sharing.
The best video i've ever seen explaining what is WEALTH. Good job
Garry, I really love your video man. As a student who always wanted to build his wealth, your words and insights are gold! Very Inspiring!
Don't sell your time - fantastic point here. It takes people years to figure this one out. Finding ways to leverage your time most effectively is key.
Great video Garry, thanks for making it. It was refreshing.
This is such an important video for ppl of our age to watch and comprehend the message. Thank you for creating and sharing it!
This hit the bullseye, Garry. Good stuff. Thank you.
Garry, You know I am one of your biggest fans. Following your tweets and youtube videos. Thank you for decentralising knowledge
Thanks for your kind note!
The best I have ever learnt! Thank you so much
You're very welcome!
Thank you, when I ever I feel lost, I always come back rewatch this, and learn and re-learn again. Thank you
You are about to be liable for hundreds of millionaires and thousands of fulfilled people! These videos are really good, it's advice I've heard plenty of times, but your delivery and sincereness really makes it that much better, knowing its coming from the right place. Keep inspiring!
Totally recommend reading all Paul Graham essays, including the one on how to become wealthy
I never search out this type of content but stumbled on it today!
Never knew I needed it - it’s perfect for where I am in life!
Thanks for watching! We post every week
Gary, thank you! You have helped me in a very difficult time. It is just what I needed.
This video has been really helpful in helping me understand what wealth is. Love it
I just quit my boring decent pay job today n decided to run my own business. I’m walking my dog, listening to this video n hating my ex-manager who was still giving me shit on my last day. This video is sooooo helpful.
Same same. On my last day I had to work full shift for my shitty boss who’s the very reason I left my job who beg me to help out simply because a lazy favourite employee of his couldn’t work due to a boyfriend problem.
Good luck with the new ventures guys!
I LITERALLY with every fiber of my being cannot believe this video is not a STANDARD. Thank you
Garry dropping incredible gems of wisdom.
Thanks Garry, that was essential, I need to watch it again and again.
Thank you for putting this together, Garry. It is amazing.
Lol at the dramatic music ending
This is one of the best videos I've seen in many many years. It helps me a lot as a founder seeking answers. Thank you, Garry!
Thank you! Super kind note.
Garry, as an early subscriber I have watched all your videos and I love you so much. When I listen to you word-by-word it's like I'm thoughtfully tasting apples under a wisdom tree. You make me think, you make me see but also feel the love for serving people with a product or service. People with your perspective are rare, and I could feel you'd get a massive following soon (now 70k) and I've said to my friends to watch you because they have so much to learn. Cheers bro
Thank you so much!
Your channel is pure gold.
Watching from Lagos, Nigeria.
In my daily journal I wrote down a reminder "Solve people's problems and you will do good."
That's my true north!
@@bellgang9954 hi stan, sounds like a scam
More importantly, solve your own problem. The one you are facing.
This way you can test the effectivness of solution.
As someone that’s surrounded by classmates blindly chasing FAANG for the money + doing leetcode till the sun sets.
It all seems so unfulfilling to me compared to building things.
Another great vid :)
Solving problems is what we were put on this earth to do for one another.
Thank You Garry for this great video - the message is very important!
this is so straight to the point - thank you!
Wow... it crazy how you landed in my algorithms. But I am glad you did. Really great content - and very timely to some of the personal questions I was having with myself about this topic, just not in this methodical way. Thank you. Your New Subcriber.
There's some really amazing clarity of thought in this. Well done Garry!
This is gold. Thanks so much, Garry!
This video is gold. Downloaded it
Thank you!
How can a wealth video be this good? Wow! Garry Tan is a philosopher of wealth.