The Truth About The "New Rich"

Summary

This video explores 10 secret habits of the 'new rich,' individuals who have achieved financial freedom by leveraging the internet economy. The speaker emphasizes the importance of authenticity, tapping into untapped demand, and capitalizing on trends to stand out. They highlight the significance of mentorship, leveraging content and code, and building movements to gain financial success. Additionally, they stress the need for a strong work ethic, focusing on the fundamentals of health and lifestyle design to optimize personal and professional growth.

Takeaways

• 🌐 The new rich understand the divide the internet has created in the economy, favoring online education and the creator economy over traditional colleges and corporations.
• 🚀 They capitalize on the new economy's efficiency and rapid growth, creating unique career paths that align with their lifestyle and interests.
• 🔍 Successful individuals in the new economy find their own niche by being authentic, tapping into untapped demand through their unique skills and passions.
• 🎭 The new rich often exhibit extreme attributes, standing out like characters in movies or books, which helps them to excel in their chosen fields.
• 💡 They use lifestyle marketing, positioning their current life as the audience's desired life and their past life as the audience's current life, to gain attention and trust.
• 🔄 The new rich are adept at spotting and leveraging trends, capitalizing on opportunities where demand is increasing and supply is not keeping up.
• 🛠 They leverage the internet for permissionless leverage, using content and code to reach a wide audience and generate significant income.
• 🤝 Building movements and communities around common problems is a strategy used by the new rich to create a following that supports their endeavors.
• 🧑‍🏫 Having a mentor is crucial for the new rich; they learn from those who have achieved the lifestyle they desire and apply those lessons to their own journey.
• 🔥 Obsession is a common trait among the new rich; they are deeply passionate and focused on their goals, which fuels their progress towards financial freedom.
• 💪 The fundamentals matter: sleep, diet, and exercise are prioritized to ensure the new rich are operating at their best, ready to tackle their ambitious goals.
• 🏡 Lifestyle design is the ultimate goal for the new rich, where they create and live the life they envision for themselves, made possible by the internet and their dedication to the process.

Q & A

What are the '10 secret habits' mentioned in the video script that the new Rich use to achieve financial freedom?

The script outlines habits such as understanding the divide created by the internet in the economy, leveraging the new economy and creator opportunities, finding untapped demand through authenticity, being extreme in certain attributes, using lifestyle marketing, spotting trends and opportunities, leveraging content and code, building movements, learning from mentors, and being obsessively focused on their goals.

How does the new economy differ from the old economy according to the script?

The new economy, as described in the script, is characterized by online education and a creator economy that is more efficient and rapidly growing compared to the old economy's traditional college and corporate structures, which are seen as less efficient and slowing down.

What role does authenticity play in the success of the new Rich?

Authenticity allows the new Rich to find untapped demand and their own unique lane in the market. It enables them to stand out and fill niches that align with their intrinsic passions and skills, leading to success without direct competition.

How do the new Rich use their personal attributes to their advantage?

The new Rich are described as being like 'car Tune characters' where they are extremely good at certain things, doubling and tripling down on their strengths, which makes them stand out and succeed in their chosen fields.

What is the significance of lifestyle marketing in the context of the new Rich?

Lifestyle marketing is a strategy where the new Rich position their current life as the audience's desired life and their past life as the audience's current life, creating a narrative of transformation that attracts attention and potentially leads to financial transactions.

How do trends play a role in the financial success of the new Rich?

The new Rich capitalize on trends by identifying areas with increasing demand and low supply before others do. They ride these trends to make significant progress and potentially achieve financial freedom in a short period of time.

What is the concept of 'permissionless leverage' mentioned in the script?

Permissionless leverage refers to the ability to use the internet to magnify one's impact without needing permission from others. It is achieved through content creation and coding, allowing individuals to reach and influence large audiences.

Why is building movements important for the new Rich?

Building movements is important because it brings together people with a common goal or problem, with the new Rich as the leader. This collective energy and focus can lead to a strong community that supports the leader, often through financial means.

What is the role of mentorship in the journey of the new Rich?

Mentorship is crucial as it provides the new Rich with guidance from those who have already achieved the lifestyle they aspire to. It helps them learn effective tactics and avoid common pitfalls, accelerating their progress towards financial freedom.

How does obsession contribute to the success of the new Rich?

Obsession fuels the relentless pursuit of their goals. The new Rich become completely engrossed in their passions and objectives, dedicating every thought and action towards achieving their desired outcomes.

What are the 'fundamentals' that the new Rich focus on to support their journey?

The fundamentals include sleep, diet, and exercise. By optimizing these basic aspects of life, the new Rich ensure they have the physical and mental capacity to pursue their goals with high energy and focus.

What is the concept of 'lifestyle design' as mentioned in the script?

Lifestyle design refers to the ability to create and live the life one envisions, made possible by the internet and the opportunities it provides. It involves deliberate planning and aligning one's life and work to achieve personal fulfillment and success.

Outlines

00:00

🚀 Embracing the New Economy and Authenticity

The speaker shares their discovery of 10 secret habits of the 'new rich' and emphasizes the importance of understanding the divide created by the internet between the old and new economies. The old economy, consisting of colleges and corporations, is contrasted with the new economy, which is based on online education and the creator economy. The new rich capitalize on the opportunities provided by the internet to create personalized career paths and to find untapped demand by being authentic and unique.

05:01

🌟 Authenticity and Extreme Attributes for Success

This paragraph delves into the importance of authenticity and the concept of being a 'caricature character' by doubling down on one's strengths rather than trying to fix weaknesses. The new rich are described as having extreme attributes that make them stand out, as they find and exploit their intrinsic passions within the creator economy. The speaker also discusses the power of lifestyle marketing and positioning oneself as a solution to the audience's problems.

10:02

🔍 Spotting Opportunities and Leveraging Trends

The speaker explains the importance of spotting opportunities and leveraging trends in the ever-changing online environment. They discuss the concept of supply and demand and the need to focus on areas with high demand and low supply. The new rich are portrayed as being constantly on the lookout for the next trend, using their ability to predict future demands and capitalize on them before others. The speaker shares a personal example of how they leveraged the 'dopamine detoxing' trend to grow their YouTube channel.

15:04

🛠 Leveraging the Internet and Building Movements

This paragraph focuses on the concept of leverage, particularly through the use of the internet, which allows for permissionless leverage through content and code. The new rich are described as leveraging their unique personalities and skills to create significant impact. The speaker also discusses the importance of building movements and communities around a common problem, which helps the new rich to attract followers and financial support.

🔥 Obsession and the Fundamentals for Success

The speaker highlights the necessity of obsession for achieving rapid success and financial freedom. They describe the new rich as individuals who are completely engrossed in their passions and goals. The paragraph also emphasizes the importance of focusing on the fundamentals such as sleep, diet, and exercise to optimize one's energy and performance. The speaker advises against complacency and stresses the need for treating one's journey like a serious endeavor.

🏡 Designing the Ideal Lifestyle Through Discipline

In the final paragraph, the speaker discusses the concept of lifestyle design as the ultimate goal for the new rich. By implementing the previously mentioned habits, one can envision and create their dream lifestyle. The speaker encourages taking the journey seriously, like a cognitive athlete, and focusing on the basics to gain a competitive edge. They conclude by expressing hope that the audience has gained valuable insights from the video.

Keywords

💡Financial Freedom

Financial Freedom refers to a state where one has enough wealth to live without having to work actively for basic necessities. In the video, it is the ultimate goal of the 'new rich' and is achieved through embracing the new economy and leveraging the internet for education and business opportunities.

💡New Economy

The New Economy is characterized by online education and peer-to-peer interactions, as opposed to traditional colleges and corporations. It represents a shift towards more efficient systems that are rapidly growing, as mentioned in the script, and is a key factor in the rise of the 'new rich'.

💡Creator Economy

The Creator Economy is a subset of the new economy where individuals create content or products, often leveraging platforms like YouTube or social media. It allows for personalized career paths and is highlighted in the script as a way for the 'new rich' to capitalize on their unique skills and passions.

💡Authenticity

Authenticity in the script is about being true to oneself and one's unique abilities. It is a strategy used by the 'new rich' to find untapped demand and stand out in the competitive marketplace, as authenticity allows them to fill niches that align with their genuine interests and skills.

💡Trends

Trends, as discussed in the video, are emerging patterns or interests that are in low supply but have increasing demand. The 'new rich' capitalize on these trends to gain a competitive edge, as illustrated by the example of the speaker's YouTube channel growing due to the 'dopamin detoxing' trend.

💡Leverage

Leverage in the context of the video is the use of available resources to maximize output with minimal input. The 'new rich' use the internet to achieve permissionless leverage through content and code, which allows them to reach and influence a vast audience without traditional barriers.

💡Mentorship

Mentorship is the guidance received from someone with more experience or expertise. In the script, it is emphasized that all 'new rich' individuals have had mentors, which has been crucial in their rapid progression towards financial freedom by learning from those who have already succeeded.

💡Obsession

Obsession, as described in the video, is an intense focus and dedication to a particular interest or goal. The 'new rich' are portrayed as being obsessed with their pursuits, which drives them to put in the energy required to achieve significant progress and financial freedom.

💡Lifestyle Design

Lifestyle Design is the concept of creating a life that aligns with one's values, passions, and goals. The video suggests that by following the strategies of the 'new rich', one can design and actualize their dream lifestyle, which may have been previously unattainable.

💡Fundamentals

Fundamentals in the script refer to the basic aspects of life such as sleep, diet, and exercise. It is argued that mastering these basics is crucial for success, as they form the foundation upon which the 'new rich' build their energy and focus to pursue their goals.

💡Movements

Movements in the video are collective efforts around a common problem or goal. The 'new rich' build movements by bringing together people who share their vision, creating a community that supports and contributes to their endeavors, which in turn helps them achieve financial freedom.

Highlights

The new Rich have embraced the internet's role in creating a divide between the old and new economy.

Online education and the creator economy are more efficient than traditional colleges and corporations.

The new Rich capitalize on the new economy's rapid growth, as opposed to the old economy's decline.

The internet has expanded the variety of career paths, allowing for personalized and passion-driven careers.

Authenticity is key to finding untapped demand and standing out in the new economy.

The new Rich are extreme in their attributes, leveraging their unique strengths to stand out.

Lifestyle marketing positions the new Rich as a transformational solution to their audience's problems.

The new Rich constantly adapt to the changing environment, spotting opportunities and leveraging points.

Catching trends early allows the new Rich to capitalize on high demand and low supply markets.

Leverage through content and code is a defining characteristic of the new Rich's success.

Building movements and communities around a common problem is a strategy used by the new Rich.

The new Rich are always learning from mentors and successful individuals in their field.

Obsession with a specific outcome or passion is a common trait among the new Rich.

Optimizing the fundamentals like sleep, diet, and exercise is crucial for success.

Lifestyle design is the ultimate goal of the new Rich, creating a life that aligns with their dreams.

The new Rich approach their endeavors with the seriousness of a cognitive athlete, focusing on the basics.

Transcripts

in the last few months I've discovered

10 secret habits that the new Rich used

that nobody else even knows about after

going from zero to Financial Freedom in

my own life age 24 I've had the

opportunity to meet hundreds literally

over a hundred people in the new Rich

from people that everybody knows about

people that nobody knows about in Dubai

La Vegas barley Thailand New York

everywhere and I've realized that the

reason they have different results is

cuz they do things differently

specifically they do 10 things

differently and in this video I want to

break down each one of those 10 things

so that you can Implement them in your

own life to join the new Rich cuz it's

very much possible now this is going to

be a longer video and I know some of you

may have fried attention spans but the

amount of hard work years of toil pain

and struggle and opportunities to

connect with these people have allowed

me to have these insights that not many

other people have so sit back relax

watch this video and enjoy now it's kind

of windy out here so I might head back

home and and record the rest of the

video so the first thing is that the new

Rich deeply understand that the internet

has created a divide in the economy you

see there's the old economy which is

compromised of college and corporations

this was the traditional way of doing

things but it has a few problems first

of all we all know now that for most

degrees College isn't the best way to

gain information quickly in college you

have a lecturer that may be the best

lecturer in your town in your city but

the internet you can listen to the best

lecturer in the world you can now get

the best education quickly and for free

using the internet and corporations

they're so structured you have the top

dog then the manager then the second

layer of manager and then finally you

have the employees this creates a lot of

inefficiency we know how slow big

corporations can get and as a result of

this the old economy has split and now

we have the new economy which instead of

colleges we have online education and

instead of Corporations we have the

creater economy peer-to peer this is a

far more efficient system and it's

growing rapidly as a result of that

whereas the corporations and colleges

are dipping and slowing down and getting

smaller this new economy is blossoming

and it's booming and Warren Buffett says

What boat you're in is more important

than how hard you row so being in a

booming industry of course makes it far

easier to enter the new rich and this

new economy has created a new

opportunity of a way of life a way of

living it's almost a new career path

it's a career path that instead of

before where there was probably 50

different jobs you could get an

accountant a lawyer a doctor a nurse a

teacher the list goes on there's

probably like 50 different jobs for you

to have because the internet has allowed

you to connect with almost anybody on

the entire planet what that means is the

amount of jobs that there are has

increased to an insane degree which

means that instead of trying to fit

yourself into a job with preset

boundaries if you're a nurse you work

these hours you need to learn these

skills this is what you do if you're a

teacher here's what your role is the

internet has allowed anybody to follow

their curiosity pursue Mastery and at

the end of that there is a career that

is perfectly suited to you and then you

rich deeply understand this they go so

hard into this new economy that they are

able to develop a career path that fits

their lifestyle perfectly if you want to

be able to work when you want to work

where you want to work if you want to be

able to serve this kind of person follow

this specific skill set and do it in

this sort of a manner the internet

enables you to do so and the new Rich

have capitalized on this before anybody

else but how do you actually do this how

do you find a career path that pays you

incredibly well and lets you do what you

love well this is another problem that

the new Rich has solved which leads me

on to the second point you see this new

economy because it's so direct it's a

winner takes all Market most people

don't get good results the best people

get a lot of results it's quite a

competitive Marketplace which honestly

is the way that it should be because

that's how progress is made and if you

look at all of the people in this new

economy that are failing they all look

similar all failed businesses look

similar but all successful businesses

look incredibly different everybody

that's done something incredibly cool

has found their own lane they found

their own area where there's tapped

demand that they are able to fulfill but

how do you find that untapped demand

well the answer is to be authentic you

see you naturally are unique all humans

are unique so by being authentic you're

able to find untapped demand because you

being unique there's nobody else that

can do what you can do best just like

the way you can and every single person

has something that they're incredible at

this is something that you love doing

it's something that you do regard

regardless of whether you get paid to do

it you're probably rewarded for doing

this thing as a child for whatever

reason you got a lot of approval a lot

of Praise You just found it

intrinsically pleasurable for you to do

as a child that means that you're very

good and you love and you're obsessive

about this one specific thing the new

Rich find out what that thing is for

them quicker than other people do and

they exploit their intrinsic passion for

specific topics skill sets areas in the

Creator economy and that authenticity

allows them to be different from

everybody else and by being different

from everybody else they're able to fill

that untapped demand find their own lane

and progress without any competition you

beat competition by being authentic cuz

nobody compete with you on being you

which brings me to point number three if

you watch movies or you read books what

you'll see is there's characters in

these movies and books and these

characters are pretty extreme what

happens is imagine you're playing a

video game and you get to select your

character's skill level you get to

select your characters attributes what

the authors and the movie directors do

to make these characters interesting is

they take some of the different parts of

this character and they make them super

extreme maybe this character gets angry

really quickly maybe this character is

super super super smart maybe they're

super super shy and super introverted

these movie characters make people

extreme to make them interesting and the

more new Rich that I've met the more I

realize is that almost all of them are

like car Tune characters what I mean is

that in some attributes they're so

incredibly extreme in those areas that

they almost seem like a fictional

character it's so fascinating to meet

these different people see how different

they all are and so incredibly extreme

they all are and the reason that that's

the case is because they've taken

authenticity to the extreme and they've

double and tripled down on the things

that they're good at instead of trying

to deal with their weaknesses which you

need to do as a beginner once you reach

a a certain point you can get away with

just doubling and tripling down in your

strengths because you can find other

people that can make up for your

weaknesses which means that they're so

insanely good and extreme at certain

things that they stand out like a movie

character which brings me on to point

number four there's a Core lesson in

Buddhism that says that humans are

Desiring creatures which means that we

view a concept of how our life is and we

have another concept for how we think

life should be and in between how life

is and how we want life to be desire is

the gap that Bridges those two things

and this desire causes humans a lot of

suffering but it also causes humans to

make a lot of progress and what these

new Rich do is they position their

current life as their audience's desired

life and they position their past life

as their audience's current life so they

tell Their audience which is probably

true for most of them I used to be where

you are now and I am now where you want

to be and what that does is the audience

now immediately pays them attention and

potentially even pays them money because

they believe if this person got from

where I am now to where I want to get to

they must know how they can get me from

where I am now to where I want to get to

so they use lifestyle marketing they

position themselves and their products

not as products but as solutions to

their audience's problems they don't

sell a product they sell a

transformation and they make it very

clear to Their audience that I used to

be where you are now and I am now where

you want to be therefore you should

listen to me and pay attention and it

works incredibly well now those four

points that I've mentioned they're all

talking about you as the character in a

video game they're all fixed and

dependent on who you are as a human

being but you have to understand that

this great online game that we're all

playing is Ever Changing there's things

that are constantly moving so as well as

just optimizing yourself as these new

Rich do they also realize that they need

to broaden their Horizons and start

looking at their environment as it's

constantly evolving and spot

opportunities and leverage points within

that environment which brings me on to

point number five as we all know down to

basic economics business is a game of

supply and demand if you are able to do

things that have high demands that

people want but low Supply that nobody

else is doing which partially comes

through authenticity as we've talked

about that's the lane that you can win

but in this constantly changing

environment there's always different

opportunities that have varying levels

of demand and varying levels of supply

and how you allocate your attention is

one of the highest leverage things for

you to focus on if you pick an

opportunity vehicle that has low demand

and high Supply lots of competition it's

going to be almost impossible even the

best entrepreneur will really struggle

in that situation whereas if you're able

to spot an opportunity that has high

demand but low Supply you can be

incredibly bad entrepreneur stumble your

way around but still make significant

amounts of progress the opportunity

vehicle you're in matters more than the

skills that you have and then you rich

leverage this by catching Trends see

what is a trend a trend is something

that has low supply low demand but you

predict that the demand is going to be

increasing over time and the supply

won't be catching up to the demand for a

short certain period of time that's what

a trend is and in my own life my YouTube

channel exploded thanks to the dopamin

detoxing Trend what happened here was

that I saw on Reddit a couple people

starting to talk about dopamin detoxing

the demand was starting to increase I

saw on LinkedIn somebody made a a blog

post about dopamine detox and that was

performing pretty well but then I saw on

YouTube that nobody was talking about

this so I saw the demand was increasing

and it was starting to grow and I saw

there was low Supply so I went all in on

dopamin detoxing I made a six-part video

series it ended up with over 10 million

views and it absolutely exploded the

YouTube channel the new Rich are

constantly on the lookout for what is

the next trend for me me to ride on to

make progress but when most people find

a trend they sort of make a little bit

of progress in it but they're unable to

really generate the Financial Freedom

that they want in reality one Trend that

you hit well can generate Financial

Freedom in a very short period of time

if you employ the next thing that the

new Rich are always focused on you see

in order for you to make significant

progress in a short period of time or

let me just break this down more simply

what is new rich mean new and Rich what

rich is is it's a large amount of

outputs of money and what new is is it's

a small amounts of inputs of time so you

have a small amount of inputs of time

and a large amount of outputs of money

the only way that a human being can do

that is with leverage all of the new

Rich use leverage to an insane degree

specifically the internet the internet

allows you to make one tweet that could

reach a million people whereas before

few to reach million people you'd have

to go and speak with a million people it

would take years and years and years and

years and years and before the way that

the old economy worked is on leverages

like people and money but to get money

people have to give you money and to get

people to work for you in another form

of Leverage people have to give you

permission so these are permission form

of Leverage which is very hard to get as

a young beginner the internet has

allowed for permissionless leverage

specifically through content and code

and shout out to nval who really

pioneered this idea the new rich all

leverage content or code to make

significant amount of money and before

in the old economy it used to be blue

colar versus white colar now in the new

economy it's more like leveraged versus

unleveraged and when you combine

authenticity with Leverage What happens

is you have a very unique individual

that normally wouldn't cause much of an

impact but when you add the leverage

into the equation their personality gets

magnified and exploded to a huge degree

that's why personal Brands all look very

different but the thing that most people

don't understand is that they view money

as making money but unless you're the

Central Bank you can't make money the

more accurate phrasing is how do you get

money and how do you get people to give

you money and in order for that to

happen people need to be in the equation

so in order for you to get into this new

Rich there must be other people involved

you can't do this solo Mission other

people have to give you money but how do

you get people to give you money how do

you get somebody to Will willingly give

you money one of the best things that

the new Rich do is they build movements

it's not just about them it's about a

common problem that they are helping

other people solve they bind together a

group of people all in search of solving

this common problem them as the leader

and they build this strong movement and

then the people in the movement happily

give them money so they all build

movements and at this point you may be

thinking whoo this is a lot of stuff

we've just covered 7 habits that the new

Rich use how am I supposed to

implementing all of this well the next

thing that the new Rich all do is they

constantly are trying to figure out the

meta what are the current tactics in

this great online game that we're all

playing that work incredibly effectively

how do you find these incredible tactics

well you find the people that are

implementing them incredibly well the

winners of the great online game and you

do whatever you possibly can to learn

from them not a single person out of all

the new Rich that I've ever found did

not have a mentor they all had somebody

whether it was through courses that

they've bought whether it's through

YouTubers that they've watched whether

it's through physical real life mentors

that they have but 99% of them it's all

through the internet they picked

somebody that had the life that they

want to live and they did what they told

them to do because as a beginner it's so

easy to do the wrong things it's so easy

to waste time if you find a mentor who's

been there done that and you do what

they tell you to do you can make

progress far quicker than most other

people can and habit number nine even if

you do all of these things right most

people still fail because they don't put

the amount of energy needed for success

to happen every person in the new Rich

that I've met are obsessed they get

incredibly obsessed over something that

just dwarfs them encapsulates their

entire reality they love this thing well

they're so excited by this thing that

they become obsessed every thought of

every day every action that they take is

all focused towards this specific

outcome otherwise it's impossible to

make such incredible progress in such

short periods of time to make any

significant progress to go from nothing

to Financial Freedom in a short period

of time it takes a lot of energy even if

you learn from the right mentors even if

you focus on the trends it still takes a

lot of energy and the only way a single

human being can output that much energy

is if they give it their absolutely

everything and they become all Inc

completely obsessed but the last thing

that you want to be doing which leads me

on to Point number 10 and there will be

a bonus one at the end is just trying to

be obsessed trying to okay I got to go

to work I've got to think about this

thing all the time the first thing that

you want to do is clean up your life get

your sleep in order I've slept for 9

hours every single night 99% of the time

for the past 4 years clean up your diet

make sure you're exercising get the

fundamentals right Advanced people just

do the fundamentals well that's all it

is and playing this great online game

trying to join the new Rich you're

competing against a lot of people you

have to view yourself as a cognitive

athlete take this seriously there's no

reward for half-assing it there's no

reward for trying and failing you have

to optimize the basics if you want to

make a lot of progress sleep diet

exercise that's it if you optimize those

things you will be ahead of 95% of the

competition and don't try do anything

too crazy just sleep for a long time and

just eat clean food and just move your

body a few times a week just do the

basics and that's it everything else

will become significantly easier and if

you do all of those things which leads

me on to point number 11 that the new

Rich all do is lifestyle design if you

get these 10 things right you will be

able to sit down think of your dream

lifestyle what do I do in the morning

how do I spend my time how do I feel

who's around me what are the objects

that I have what is this life's work

that I'm pursuing and you will be able

to create it into reality the internet

has enabled anybody who takes this stuff

seriously to create a lifestyle that

previously did not exist but you have to

lock in you have to take this seriously

you have to make this your life's work

and incredible things can happen in a

short period of time if you do all of

those things all right guys that is it

from me sending you love hopefully you

got at least one Insight from this video

and I will see you in the next one