The 3 Biggest Business Opportunities For People In Their 20s | Scott Galloway
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- Опубліковано 25 чер 2024
- No more small boy spreadsheets, build your business on the free HubSpot CRM: mfmpod.link/hrd
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Episode 511: Shaan Puri ( / shaanvp ) and Sam Parr ( / thesamparr ) are talking to Scott Galloway a.k.a Prof G. In this episode Scott opens up about his scarcity mindset despite a $100M net worth and the best way for young people to get rich slowly.
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Show Notes:
(0:00) Intro
(3:00) Surviving rejection
(5:00) Scott Galloway’s net worth
(9:00) How Sam made $20M in 6 months
(12:00) Scott gives Sam financial advice
(16:00) Get Rich Slow Strategy: Seller-financed boomer businesses
(19:00) Get Rich Slow Strategy: Go work for a big company
(20:00) Trillion-dollar carcass: AI for Healthcare
(22:00) Prediction: GLP - 1 will be bigger than GPT-4
(28:00) Second order effects of Ozempic
(31:00) The economics of obesity
(33:00) The drug that changed Scott's life
(35:00) Inverse Galloway Index
(40:00) Is Putin cyber-bullying Scott Galloway?
(44:00) $5M/year to speak
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Links:
• No Mercy / No Malice - www.profgalloway.com/
• Inverse Galloway Index - inversegallowayindex.com/
• Adrift - tinyurl.com/5ajwcy35
• The Prof G Pod - tinyurl.com/5dfdbywx
• Prof G Media - profgmedia.com/
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Check Out Sam's Stuff:
• Hampton - www.joinhampton.com/
• Ideation Bootcamp - www.ideationbootcamp.co/
• Copy That - copythat.com/
Check Out Shaan's Stuff:
• Try Shepherd Out - www.supportshepherd.com/
• Shaan's Personal Assistant System - shaanpuri.com/remoteassistant
• Power Writing Course - maven.com/generalist/writing
• Small Boy Newsletter - smallboy.co/
• Daily Newsletter - www.shaanpuri.com/
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Healthcare in USA will never be "fixed."It's not "broken" for insurance companies.It's not "broken" for pharmacy management companies. It's not "broken" for pharmaceutical companies. It's only broken for citizens and we are not corporate financial entities so we do not count. Until our democracy is fixed (which will never happen) healthcare can never change.
I wish this guy didn’t interrupt Scott so much to try & show that he knows things. Scott is a wealth of information - let him make his point and let him finish before interrupting.
Yeah pearls of wisdom like relating fat acceptance to vaccine hesitancy. What a bag of wind.
Scott isn’t saying accepting people for who they are is bad, he’s saying it’s a lie to further the myth that most people who are obese can be considered healthy. It’s not a personal insult to fat people, it’s the showing of love to others, and/or oneself.
Great video, I've been interested in investing ever since I came across articles of people making up to $150,000 and more in this period, thanks for the video but is it really possible for a retail investor to achieve this in months?
I've purchased numerous stocks in individual firms. Because there are so many stocks that will skyrocket in the long run, it is currently safe to buy in on ETF and ride it out. Due to fud, I sold out early, but then retraced my ways and re-invested $350,000 with a financial advisor who manages my account. I received an 82% return last year and will see where it goes this year.
45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.
please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Thanks for sharing, I just liquidated some of my funds to invest in the stock market, I will need every help I can get.
What do you think sets AMS120X apart from other projects? It seems to be dominating discussions lately
Probably the fact that it's a scam.
Thanks for sharing PEPE and AMS120X. 💯
Can anyone explain AMS120X?
Scam, your welcome
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
I agree. I have pulled in more than $735k since 2020 through my advisor. It pays off more in the long run to just pick quality stocks and ride with those stocks.
@@mariaguerrero08 Mind if I ask you recommend this particular professional you use their service? i have quite a lot of marketing problems.
CAMILLE ALICIA GARCIA maintains an online presence. Just make a simple search for her name online.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
Scott Galloway could probably do well with reading Byron Katie's 4 questions as a self examination of his thoughts
.."Is this real?" " How can I be sure this is real?", "Who would I be without that thought?" And "what is.a different way I could spin this?"... Cornell University did a study (that has since been repeated many times tracking a large group of people's concerns worries and fears over many years and found only 3-5 percent ever came true....which means in all likelihood all the stuff he worries about around money will never manifest:)
My net worth is a lot less than theirs and I’m retired since 41 and have zero anxiety about money. That can’t be healthy to have a 9 figure NW and still have money anxiety.
You are correct. It is an addiction they refuse to fess up to, that being said I am the exact same way (not in networth though hahahha, but in addictive personalities)
Out of curiosity from someone your age, what did you invest in?
@@masztaarc equities. Was mainly a combo of high paying job and high savings rate / managing lifestyle inflation
I think some people just stress out about money even when they have a decent income. I have the same issue but I don't see it as an addiction but as a constant state of fear that I'm going to be broke again tomorrow over whatever reason. It's such a weird feeling and no one in my family is like that. I'm not sure where it comes from but I've always had that issue since I was in my early 20s. Sometimes it's so bad I can't sleep but again it's more fear based vs. a greed thing. But everyone is different so maybe for others it's greed based.
@@irhapsody2010 did you grow up poor?
My friend worked in a gas station for 5 years instead of going to college. Some of our friends said he had no ambition while they studied to be engineers, architects and medical professionals. His boss and him bought a run-down Philips66, which he bought out from his old boss.
Last year, he made $450k on sales of $3.2 million.
"greatness is in the agency of others", a succinct, golden nugget!
Shaan is the apex predator of clarifying questions. "You know your anxiety (about money) is irrational, so is it just virtue signaling?" 💀
Fr like what's he gonna say? Yes 😂
@@funkymonkey7202 he had him cornered 🤣 🦈
@@ElleDyson Is anxiety a virtue? 😂
Anxiety is self preservation and a virtue. Its self modulating ?
Reigns us in from bad decisions.
I dunno.....who the f am I?
Alive and healthy at 71 so I am haply.
jesus was a virtue signaler too
22:58 Healthcare expensive not because what it actually costs, but because the unholy alliance of providers+insurers+government
The issue with Tech in Healthcare is that because medical people don't understand tech and tech people don't understand the medical field, it takes a lot of mutual understanding and consultation to even discover a problem that can be solved with technology let alone AI. Many health-tech startups don't solve large enough problems to truly succeed.
1000s of people understand healthcare
science advances 1 death at a time. the younger people are more accepting
It's such a sad way to live. Hoarding millions and never having inner peace. The universe is telling you to go and help people, but you're still hiding in the corner like a wounded animal holding onto your power in currency.
Huh?
Endless striving is endless striving.
He talked about donating huge sums of money as he rebuilds a sustainable growth model. If you don’t have money to give, then all you have is your time. If you’re not spending 10% of your week (relative to a capital investment strategy) donating your time to charity, you’re in danger of hypocritical thinking.
Warren Buffett underscores the vital importance of understanding compounding and adopting a long-term perspective for financial success, as leveraging the compounding effect and maintaining a extended investment horizon enable individuals to accumulate substantial wealth through patience and strategic planning.
Navigating the complexities of investing can be challenging for newcomers, but by staying informed through analysis of financial news, market trends, and expert perspectives, I aim to offer valuable guidance and help individuals make well-informed investment decisions, emphasizing the importance of seeking advice from financial professionals and conducting thorough research.
Certainly not, as I've closely tracked the performance of my portfolio, witnessing an impressive surge of $433k in just the last two quarters. This experience has illuminated the reasons behind the substantial gains that seasoned traders often achieve in the seemingly unpredictable market. I must emphasize that embracing this path has been one of the most audacious choices I've made in recent times.
*@kristenpierce8661* Kindly share the details for reaching your advisor. With inflation negatively affecting my funds, I'm in search of a more lucrative investment strategy to optimize their performance.
"Camille Alicia Garcia" is my portfolio-coach, I found her on Bloomberg where she was featured, I googled her name on the internet. Fortunately I came across her website and reached out. You can go verify yourself.
I checked Camille up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.
Awesome interview, they cover a lot but it's never enough, great stuff, and great job!
Fantastic show guys. Great stuff.
Many blessings to you💞 ✌🥰
Prof G’s recent speech at Summit was excellent 🙌
It’s part of the driving mechanism to keep worrying about the wealth. Worrying about losing it is “the fire”. It’s the coal that feeds the train boiler. These guys know, no matter how big or fancy the train it only runs as long as you keep stoking the fire, and the “worry” you have, it what fuels the fire.. it’s not about the money, it’s about the drive.
What are the 3? Someone just name them. 🙏
People who have $10M+ and are worried about money have a serious psychological problem
Excellent Episode! If only it was longer. Would love to have Scott on for a longer episode! 🌟
Great episode!
Great interview! Scott always has great insights and I love how he articulates his thoughts.
How would that sound on a Tele?
I'm a pharmacist and dabbling in AI/healthcare is incredibly difficult. But I agree, if you can tap in 0.01% of the space the dividends will pay off immensely
I'm already doing the AI coaching and NFT and merchandise with programs
First 15 minutes: Rich people (Scott and Sam) crying about not having enough money and Shaan (also rich) trying to understand them - LOL! 😂
Sh!ts wild 😂
Haha we’re awful. Roasting them while their being all vulnerable.
Jokes aside, this is a great podcast. It’s ranked as one of my top two favorite podcasts for a little over a year.
Crying? They explain that a sense of insecurity is a driver for their success and that’s your take. Lol
@@MrLuigiFercotti Yeah, it’s poor people thinking. I know, because it’s the first place my mind went. I just recognize that I have been indoctrinated into negativity, we have to fight against that scarcity mindset.
To many, Scott is "In your face" - Brutally honest. Stoic with a strong sense of conviction. Honest self evaluation. Basically, every element of becoming a man from Rudyard Kipling's IF.
Blessed with the voice & articulation that talks to our soul. Thank you, Scott. 🙏🏼👍💕
If you worship money, you'll never have enough. If you worship beauty, you'll never have enough. same with power. BTW, not an original thought on my part.
Pumped for this!
Fascinating perspective!
The fact that these multi-millionaires are not completely happy with what they have and their lifestyle is indicative of much deeper problems than just money
not really….its just comparison…if you have $20MM, you have a lot of friends with $100MM so you don’t feel rich
Peoples insecurities provide fuel for any number of occupations and interests. But be successful you still have to enjoy it and want to do it.
@@mineraltI think you just made his point.
@@dont_hit_trees “deep problem” is very different from “common human situation”
there’s only 58 million millionaires out of 8 billion
the quote is, "its not how much you make, its how much you keep"
Took me 25 years of stripping to wake up to this point🙈
45% in taxes is insane no matter how much you have.Giving away half of it isnt fair for anyone.We really should have one fair tax rate for everyone equally and do away with loop holes/grey areas.
Love the honesty of these guys.
You are so on point about bot farms and Putin, this is what Russia does all the time to someone who goes against their agenda, I was very impressed to hear this
Crossover of the century, lets go! 🔥
this was a great one :)
great episode. unrelated but I had a hubspot ad pop up in the middle of this when I have UA-cam premium...but if I rewound, it wasn't there. I'm just writing this since I assume someone at UA-cam will read it and tell me something I don't know
This was great for a 2hr drive .. Thanks
Sam finally reveals how much he made from the acquisition. Although he's always hinted at 10s of millions
Very Impressive number super interesting to finally know it hahaha
Didn’t the Hubspot stock he took triple in value? I had in my mind his net worth was circa $75m.
@@justins2397he edged us
@@drumbassclassics953Sam said this before. He sold some portion of his stock but kept a lot. He's probably worth like 30-75, call it 50.
Then again, now he has Hampton so even more
Can't believe it took 3 years for a guest to get him to say it haha
Great choice of guest as always!
Completely agree on the diabetes investments. This is probably one of the bigger opportunities over the next 10 yrs. I’ve got shares in GLUC and keep loading up
Please keep putting the timestamps guys!! 🙏
Off to church! Be blessed and not stressed
9:16 @Samparr just opened up the flood gates here.."I'm broken when it comes to money, I have a scarcity mindset"
...this was so powerful because I've always struggled with money...and to be fair, I've never admitted to myself.
I'm broken to when it comes to money, just saying it has already released some tension.
Don't think you understand what you just did Sam, and I can't imagine how hard that was to even say out loud to the world.
..Big respect to'ya 🙏 ❤
People can have a lot of money but if their parents we alive during the Great Depression they will never feel safe! That scarcity mind set never leaves you.
If you weren't american you'd feel a lot safe. My rent is controlled, my healthcare is covered for life. Makes a huge difference.
@@stoneneils Europeans have no growth and the VAT is killing the EU
@@stoneneils Your healthcare my be covered for life BUT you health isn't! AND THAT IS THE MOST IMPORTANT THING!
Weight loss side effect from Semaglutide is due to delayed stomach emptying. It does not change anything else in brain that affects substance abuse or anxiety. Just a correlation... However, thyroid cancer, pancreatitis and deaths from gastroenteritis are there. Plus it is lifelong therapy in case of weight loss.
It’s all about accomplishment. I have to have it to have self worth no matter the amount of money.
My two favorite pods
This is beyond amazing. Success has no shortcuts, there’re ways to attain it.
Most successful people always seek the knowledge and ldeas of finance professionaIs to help them create wealth and claim to attain their success without any help
To create wealth, proficiency is needed. I indulge in special packages with the Ideas of my finance professionaI and so far I’ve attain so much returns (amount is confidentiaI)
I'm delighted to be here. Such a unique idea deserves attention. I'm interested in participating; could you provide more details?
Rebecca Martin Watson is my professionaI, I found her on Bloomberg where she was featured, I looked up her name on the internet. FortunateIy I came across her and reached out to her, you can verify her yourself.
I got her page immediately I researched, I read through it and seems pretty interesting, I just reached out to her
Would love to see more Prof G on this podcast
I’m finally not anxious about $
Feeling very blessed
Awesome interview, Scott is the best 😊
Great talk
That is because the UK and Australia have a better grip on the nutrition system as opposed to our FDA
Great episode and I'm a big Scott fan. FYI for those youngsters watching suffering from severe acne, know that Accutane has RUINED many lives as well. With a whole host of side effects including suicidal thoughts resulting in the act, and depression. I'm glad my parents and I decided not to put me on it when I was a teen, and I eventually cured my acne naturally!
Cure your gut, the rest will follow. If you have acne then you have problems internally. No sugar, no alcohol, homemade yogurt of various strains, and certain liver supplements all help. Glad you fixed it.
For me or worked wonders, however in hindsight I would have preferred to try keto first and other holistic medical alternatives
@@karlburmeister1552 no dairy, no gluten
Embedded ads, REALLY? Do you not know why people PAY MONEY to UA-cam Premium? The only reason is not to have ads. This has got to go, now.
Top 10 pods of all time!
34:00 Accutane changed my life, too. There’s a lot of fear mongering about that drug, but for me it was completely worth it.
this intro is so epic :D
I love that Galloway touched on Ukraine and the bots. It is 100% true. I seen the bots and trolls at work. Ukraine is about freedom nothing more and nothing less. We must support freedom for the world by supporting Ukraine.
Ukraine is the most corrupt country in Europe. All official sources agree. The money the US sends is all bring picketed by oligarchs. The defenses to be built against Russian attacks were not built, and the defense contractors are fake companies. When Russian soldiers showed up, there was nothing there defense wise, and the Russians walked right in. Zelenskyy purchased the home/castle that King Charles raised his sons in! He has like 15 castles now, all over the world. Wake up.
Re: international cyberbullying, hacking, cancelling, character assassination => yes. Unfortunately, I have some first hand experience, with significant negative exposure to me personally, which is why Scott’s comments caught my attention. I also believe it is real, destructive, and currently being used as a form of soft war, against a still, relatively unsuspecting, west. With AI and bots, there doesn’t need to be a top 10,000 list. They can include anyone with a counter-position opinion (aka - almost anyone in the west), in their cancel/bully/sabotage campaigns. Scott Galloway, thank you for sharing this information. It has given me some hope, though I’m still trying to recover, connect with resources, tell my story, and alert others to these real dangers. (Indy entrepreneur, 11 years living in C*ina, working and building stuff.)
5:40 is the most important thing that EVERY young person should learn - this is why capital gains tax should be increased.
The most frustrating thing about my first millions is the episodes that don't sound as interesting by the title often end up being some of the best. Almost skipped this one and so glad I didn't.
Just curious, if it were upto you, how would you have rephrased the title?
I prefer a drug called self-control. It's dead cheap.
Love this!
I’m a simple guy. I see Galloway. I click
Haha I was going to say the same thing!
I agree
I respect that
The stock market is a way to protect against inflation. Particularly in the midst of a recession, investors must understand where and how to allocate funds to protect against inflation and still make profits.
In my opinion, the impact of the rise or fall of the US dollar on investments is multifaceted, but learning how to grow your money has never been easier than now that you can passively explore and experience a truly diverse market by using an advisor. director portfolio.
HMMM... IS THERE similar discussion for me and others in their 70's? I would hate to waste my next 20 years before the thud. Great content. I am also sending this to a younger bud who can use it. All the best neal sw fla
One of the BEST MFM Episode’s of ALL TIME!!Yall hardly ever miss.💯💯👍🏽🎉
A comment on the affordability of the GLP-1s I'm a pharmacist in San Diego and A LOT of people are getting them for free if they have medi-cal (those who live fall below the "poverty"limit) so it looks like this stuff is going out to the rich and the poor, concerns with long term SE (affecting the thyroid and pancreas as someone mentioned) are important though and let's pray it doesn't turn out like the opioid crisis in 10 years, albeit GLP-1s have waaaay more advantages than opioids. P.S. next time get your vaccine at Rite Aid Sam 😉less of a wait time, great show can't keep up with them!
You are hard to peg and have beautiful language. The joys of Sam Parr compliments.
I'm a simple man.
Thank you for using the intro you use, not the old one...
My major takeaways were that Scott is more bullish on a drug he’s never tried than ai and he thinks that working class people should find private loans to buy a small business and rich educated privileged people should take the “underrated” traditional corporate career path afforded by their luxury educations. Groundbreaking stuff here
That's why Prof G Kicks axx.
Saving this
33:11 Sam had me cracking up! 🤣 I’m strongly opposed to Walgreens telling the pharmacy section my personal business! 😩
As someone who doesn’t know from month-to-month if I’ll be able to pay my $1250 rent for my tiny carriage house in Atlanta, it makes me nauseous to hear someone like Scott Galloway say that he is anxious about his money and that he wants to make so much more of it. Scott, if you need to make a bunch more money and you’re looking for places to give it away, I could really use freaking help.
He can lead you to water but you need to drink…figure it out
@@carieyoung1111 I bring so much joy and value to this world. You have no idea who you’re talking to.
Sam, you need to try financial hypnotherapy.
Thank you for this episode it is my new spokesperson. This is everything I’ve been talking about for 20 years. Money mentality is different than money mindset.
Money is the number 1 cause of stress so it’s going to affect health. Fix the money problem and you fix the health problem.
For $500 a month you can asynchronistically work with a therapist that specializes in financial therapy to remove the distractions.
I love this episode. It gives me hope to keep talking about this topic until I become the premier financial hypnotherapist.
Thank you!
🎉👏🏽👏🏽👏🏽💪🏽
I fear a financial hypnotherapists will sell ad space in my treatments
Tell me more@@pronoia. I'm not sure I understand what you are saying. What kind of treatments do you do? Why couldn't you partner with a financial hypnotherapist to create a win/win/win for you, the hypnotherapist, and the client? Do you see that possibility?
@@goodrichpeople I imagine going to hypnotherapists and walking out thinking I need a new saatva mattress to get a better night sleep using the promo code imbedded in my mind. Given the chance I'd buy ad space for direct to consumer beef marketing. It would help combat the marketing of unhealthy convenience food.
Let’s goooo!!!! ❤
Great guy
It is what we’ve been eating for the last hundred years unsaturated fat from seed oils we quit eating lard butter and tallow, and it’s killing us
Best way for you guys to get over $ anxiety is to compare yourself to the average person making $75k a year. and you have 266x more than that.
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly😊
The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $508k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choi
that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s your financial advisor or coach, do you mind hooking me up?
I've actually been thinking of reaching a portfolio-adviser, my 401k and stocks been losing everything it's gained since 2019, mind if I looked-up this one coach you use?
Honestly, How can I be part of this project I earnestly hope to build a strong financial future I'm interested to take part, who's the person behind your success?
I like that, beautiful language. I’ll keep paying attention as to why some people attract me more than others. I’m hunting down wisdom, but beautiful language is interesting.
Great interview and great insight into finding small businesses to own/run - my sister was a bookkeeper/office manager and specialized in working for older, about to retire small business owners that were transitioning their businesses onto their kids!
He has become a superstar for the right reasons
I like what says. The US tolerates failure because it's through failure that success is reached and many times in areas other than the one intended.
yup, it's irrational to feel that way. 20m-100m is already less than 1% of the population.
I would have loved a deeper breakdown on the L2 business he sold, and others he started.
Great pod!
The only problem with this episode is that it was too short 😂😂
Yeah i dont get the hard cut off
The key to my failure is...rejection.
Ozempic is a timebomb
Yup!
For bad health or returned weight gain?
Side effects and mental health @@johnpe5533
Dangerous side effects.
Been on it for 10 months and took a 4 month break after the 7th month. I didn’t gain the weight back. But I did have to work hard at not picking up the carbs again. Went back on it and have not had any side effects. It works for some and not for others. Just like any other drug.
For those who watched the full video, what were the 3 opportunities?
Awesome
I was driving to a clients place for the meeting and tuning in and heard he’s talking about Erectile dysfunction anger and depression I’m like what? These are the ingredients for success? Hehe
Amazing advice! Spent 5 years building and selling a recruitment business, then jumped into 3 large companies with equity sign on (with some luck) built wealth. Enough for me to be calm anyway :)
The answer on Corporate US Healthcare and AI... Palantir (PLTR), they're already occupying 16% of the US Healthcare market with their data needs to overhaul their decision making systems.
Great pod! In addition to all the issues being biological, psychological , consider that they may be spiritual. Human nature is not just driven by instinct, but by disordered desirers.
Amen