What Are You Willing to Sacrifice to be Wealthy? with Scott Galloway
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- Опубликовано: 3 окт 2024
- Young people these days talk about wanting balance in their lives.
Well according to Scott Galloway, that means you don’t want to be rich.
Building wealth is no easy feat. It requires determination, hard work and sacrifice. But luck plays a huge role too.
Scott shares stories with us that he’s rarely talked about publicly. He dives into the strategies that helped him build his fortune. He’s also got loads of lessons learned from his biggest failures. He went from being worth around 30 million to a negative net worth during the dot com crash. He clawed his way back over the next few years to over 10 million or so, only to lose it all again. He tells us what those failures and successes were like for his mental health, and what it taught him about keeping his ego in check.
Scott thinks it’s important to talk about money even when it makes you feel like a douchebag. Not talking about money keeps the poor down. He shares his key tips and advice for diversification and why it’s so important in building wealth.
This is Moneywise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits.
Who is Sam Parr?
Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022.
This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups.
Chapters:
Scott’s Background (03:36)
Early Success and Sacrifice (06:24)
The Power of Luck, Diversification and Failure (10:29)
Strategy and Entrepreneurship (19:42)
The Hoarding Money Virus of America (26:46)
Why Talking About Money is Important (32:25)
Final Thoughts and Advice (40:57)
This podcast was produced in partnership with Lower Street and distributed by Morning Brew.
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Love this format and how Sam summarizes the conversation every now and then. Very refreshing , almost really feels like a show not an interview
My first million feels like this all time Time, it’s such a good show
Love the show - not sure if Scott just didn’t want to answer questions about money or what but there was only like 2 min about how he spends his money in here - that’s kind of the only reason I tune in tbh. The rest was basic entrepreneur advice for people that haven’t done anything - which isn’t the purpose of this podcast I thought
Agreed, not the right guest
If you watch his episode on My First Million it’s much better in my opinion. I find money wise to be a much more grown up buttoned up version of MFM
@@TheWarmDown_MMA haha yeah, comments not looking too good
@@divine7223 the feedback for moneywise has mostly been wonderful! its numbers has exceeded our expectations, particularly with driving awareness for hampton. sorry if it isn't for you! We certainly are just trying to reach a narrow niche.
spot on
Decent listen; sounds like a grounded guy.
I'm currently in an intense period of 12-14 hour working days, 7 days a week, and I can definitely relate to a lot of what's said here.
there IS nobility in spending and putting it in the economy.
Would love if you'd invite this guy Shaan. I think you may have heard of him. He does this other podcast called MFM or something
Yeah they’d really hit it off I think, maybe start a podcast or something.
Why no video? Helps me remember!
This is just to good. Keep them coming Sam
Hey Sam, for all that is holy PLEASE have your graphic artist properly kern the text in "ney" in Money. And the kerning in Wise Is an assault to my visual senses. 😮 Love the podcast!
The point of a $Billion is to have power and influence. Enough power and influence to bend the economy and legal system to your will and to your benefit. And that power and influence will serve to magnify your character or your lack of character. We better have some faith in people's character or our current approach to regulatory capture and legislative influence-peddling won't end well.
Sam continues to surprise me. You are awesome dude!
Whenever Scott is in the media, he is labeled as “college professor” and in the next breath about how wealthy he is. It’s very confusing and a bit misleading
Great guest!
So he’s worth over $166M if the $5M he lost represents 3% of his net worth. I thought his number was $100M. He spends over $400K a month on homes and travel? Numbers aren’t adding up.
He can’t just be living off his passive income. He probably spends much of his considerable active income.
The more this guy talks the more you can see that he didn't grow up with a father. Not hating at all but it's interesting how father attribute to discipline, validation, humility etc.
Damn, I'm 1st once again
Good man
@@eduardksenofontov6641 you know it!
damn, i missed second this time
Hearing wealthy people talk about the "sacrifices" they had to make like calling someone who doesn't want to talk to you makes me realize how out of touch they are. What do you think everyone working a customer service job does all day everyday? Do they think that all the poor people just don't want to call the person that doesn't want to talk to them? Lol it's absolutely absurd how dumb these people are.
Into is pretty long
If I were you, I would start a fund for Hampton. The community is likely full of promising business ideas.
we have one!
Wait can someone please explain how investing $23,000 at 22 will give you $2.3 million at ~60 years old? Maybe my compound interest math is way off…
100x = 10-3.25 doubles = 6.75 doubles in 47 years
1 double every 7 years is around 10 % growth per year so yeah, ambitious to say the least but not impossible...
its just wrong. You also need to contribute ~900 bucks a month along with having a NW of 23k at 22 to get to that 2.3 assuming 7% growth
Just used a calculator...
1.1^47 = 88x
So yeah, not perfect but good enough for an estimate
@@patrickgroth2037 Hmmm i just have a compound interest calculator on my phone. perhaps that app isn't correct
Big government isn't always the solution. Excessive regulation kills businesses.
Same guy different chanal what difference does it make 😂
Im second 😂