Financial Independence is a Huge Trap

The Information Revolution and the Sovereign Individual
9 Aug 202344:08

Summary

TLDRThe speaker challenges the concept of Financial Independence as a means to delay self-discovery, arguing that it often leads to further disorientation. They propose that individuals should embrace their unique experiences and knowledge to serve others, positioning themselves within the 'information economy.' By sharing their authentic insights on social media, they can connect with those who resonate with their perspective, potentially achieving a fulfilling career and high income as a byproduct of serving others, rather than making money the primary goal.

Takeaways

  • ๐Ÿ’ก Financial Independence is often seen as a means to delay self-discovery and finding personal fulfillment.
  • ๐Ÿ”„ The speaker emphasizes that reaching Financial Independence does not automatically lead to clarity on what one truly wants in life.
  • ๐ŸŒŸ Engaging in a job that feels unfulfilling can be likened to being in a toxic relationship, sapping one's confidence and joy.
  • ๐Ÿš€ The speaker suggests that people often use the goal of Financial Independence as a way to postpone dealing with their true desires and passions.
  • ๐Ÿญ The Industrial Revolution centralized business ownership and self-employment, but the Information Revolution is decentralizing it again, allowing for more individual expression.
  • ๐Ÿ“š The traditional education system had a monopoly on knowledge, but the internet and social media are disrupting this, allowing individuals to share and monetize their unique insights.
  • ๐ŸŒ Social media is redefining the information economy, enabling individuals to broadcast their expertise and experiences directly to others.
  • ๐Ÿ’ผ The speaker argues that earning a high income is not only possible but also ethical, provided it is a result of genuinely serving others and providing value.
  • ๐ŸŒฑ Becoming oneself and sharing one's unique perspective is the key to participating in the new information economy, rather than trying to fit into a predefined mold.
  • ๐Ÿ’ฐ Money and Financial Independence should be seen as byproducts of living a fulfilling life, not the end goals themselves.

Q & A

  • What is the main argument the speaker is making about Financial Independence?

    -The speaker argues that Financial Independence is often used as a trap or an excuse to postpone self-discovery and personal fulfillment. People may think they will find their true passion once they are financially free, but the speaker suggests that this might not be the case.

  • Why does the speaker believe that reaching Financial Independence won't automatically provide life's purpose?

    -The speaker believes that Financial Independence, while providing time and resources, does not magically reveal one's true desires or the activities that bring meaning and fulfillment. They suggest that many people who have achieved Financial Freedom still feel lost.

  • What historical shift in the workplace does the speaker refer to?

    -The speaker refers to the Industrial Revolution as a major shift in the workplace, which centralized business ownership and decreased self-employment rates due to the rise of large-scale manufacturing and lower costs of goods.

  • What does the speaker consider as the current revolution in the workplace?

    -The speaker considers the 'information revolution' as the current revolution in the workplace, which is disrupting the traditional information economy and allowing for more decentralized business ownership and self-employment.

  • How does the speaker describe the traditional education system's role in the information economy?

    -The speaker describes the traditional education system as having a monopoly over the information economy, where people had to go through colleges and universities to obtain information and skills for their careers.

  • What is the speaker's view on the quality of information provided by the traditional education system?

    -The speaker believes that the information provided by the traditional education system may not always be of the highest quality, as educators may not be direct practitioners of the subjects they teach or may not have the life outcomes that students desire.

  • What alternative does the speaker propose to the traditional education system for obtaining valuable information?

    -The speaker proposes leveraging social media and the internet, where individuals can learn from direct practitioners who have solved similar problems or achieved the desired life outcomes, often at a lower cost and higher quality.

  • What does the speaker mean by 'becoming yourself' in the context of the information revolution?

    -The speaker encourages individuals to discover and express their unique set of information and experiences, which can be valuable to others. This involves sharing one's unique insights and solutions to problems on social media platforms.

  • How does the speaker perceive the relationship between earning a high income and serving others?

    -The speaker perceives earning a high income as an ethical outcome of serving others effectively. They argue that if one is earning a lot of money, it is a sign that they are providing significant value to society.

  • What misconceptions does the speaker address regarding the pursuit of a high income?

    -The speaker addresses misconceptions such as the belief that earning a high income is not realistic, unethical, requires selling one's soul, or is not possible for everyone. They argue that these are limiting beliefs and that a high income is achievable by serving others well.

  • What is the speaker's final piece of advice regarding the pursuit of Financial Independence and personal fulfillment?

    -The speaker's final advice is to focus on being oneself and serving others, rather than making Financial Independence the goal. They emphasize that money and Financial Independence are byproducts of serving others well and being true to oneself.

Outlines

00:00

๐Ÿ’ฐ The Illusion of Financial Independence

The speaker begins by challenging the concept of Financial Independence, suggesting it might be a trap. They share personal experiences and insights from recent conversations, highlighting a common theme of seeking financial freedom, meaning, and fulfillment without compromising one's soul. The speaker emphasizes that financial independence alone won't necessarily lead to self-discovery or a fulfilling life, and warns against using it as a means to defer finding one's true purpose.

05:01

๐Ÿ” The Misguided Pursuit of Financial Freedom

This paragraph delves into the idea that many people postpone self-discovery and personal fulfillment in pursuit of financial freedom. The speaker argues that financial independence does not guarantee a sense of purpose or satisfaction in life. They caution against the belief that financial freedom will automatically lead to clarity about one's desires or the ability to pursue a meaningful career or passion. The speaker also discusses the negative impact of working in an unfulfilling job, suggesting that it can stifle personal growth and confidence.

10:04

๐Ÿข The Workplace as a Form of Private Government

The speaker introduces the concept of workplaces, particularly large corporations, functioning as a form of private government. They discuss how these environments can control employees' lives, often in a non-democratic manner. The speaker references Elizabeth Anderson's work, which suggests that the workplace has evolved into a controlling entity that dictates employees' actions and decisions. This section sets the stage for a broader discussion on the nature of work and its impact on personal freedom and fulfillment.

15:04

๐Ÿญ The Industrial Revolution and Its Impact on Work

This paragraph explores the historical impact of the Industrial Revolution on the workplace. The speaker describes how the revolution led to a shift from self-employment and decentralized business ownership to centralized industrial manufacturing. They discuss how this change disrupted traditional crafts and trades, leading to a decrease in self-employment and an increase in factory-based employment. The speaker suggests that this historical context is relevant to understanding current workplace dynamics and the potential for future changes.

20:07

๐ŸŒ The Information Revolution and Its Disruptive Potential

The speaker introduces the concept of the Information Revolution, comparing it to the Industrial Revolution in terms of its potential to disrupt the economy and the workplace. They argue that the internet and social media have disrupted the traditional education system's monopoly on information, leading to a more decentralized information economy. The speaker suggests that this revolution is enabling individuals to access and share high-quality, specialized information, which can lead to new opportunities for self-employment and personal fulfillment.

25:07

๐Ÿค The Power of Personal Experience and Direct Practice

In this paragraph, the speaker emphasizes the value of personal experience and direct practice in the information economy. They argue that individuals have unique insights and knowledge that can be valuable to others facing similar challenges. The speaker suggests that by sharing this information, individuals can participate in the information economy, providing value to others and potentially earning income. They stress the importance of authenticity and the unique perspective each person brings to their field of expertise.

30:07

๐Ÿ’ก Becoming Yourself: The Key to Unlocking Potential

The speaker encourages the audience to embrace their unique identity and experiences as the key to unlocking their potential. They argue that each person has a unique 'recipe' of life experiences and knowledge that can be valuable to others. The speaker suggests that by sharing this unique information, individuals can connect with others who resonate with their experiences and provide solutions to problems they have faced or are currently facing. This approach is presented as a way to find personal fulfillment and contribute to the information economy.

35:09

๐Ÿ’ผ High Income as a Byproduct of Serving Others

The speaker discusses the misconceptions around earning a high income, arguing that it is not inherently unethical or unrealistic. They emphasize that earning a high income is a byproduct of serving others and creating value in society. The speaker challenges common objections to earning a high income, such as the belief that it requires selling one's soul or that it is not achievable for everyone. They argue that by focusing on serving others rather than solely on making money, individuals can achieve both financial success and personal fulfillment.

40:12

๐ŸŒŸ The Unique Value of Individual Information

In the final paragraph, the speaker reiterates the importance of recognizing the unique value of each individual's information. They argue that everyone has something valuable to offer, and that this can be shared through social media and other platforms to connect with others who need that specific information. The speaker encourages the audience to see themselves as potential information distributors in the information economy, emphasizing that they do not need to be superstars or have groundbreaking knowledge to be valuable to others.

Mindmap

Keywords

๐Ÿ’กFinancial Independence

Financial Independence refers to a state where one has enough wealth to live without having to work actively for basic necessities. In the video, it's discussed as a common goal that people pursue, but also as a concept that might be misused as a way to postpone self-discovery and fulfillment. The speaker argues that achieving financial independence does not necessarily lead to finding one's purpose or happiness.

๐Ÿ’กSelf-discovery

Self-discovery is the process of learning about and understanding oneself, one's values, desires, and identity. The video emphasizes the importance of self-discovery in finding true fulfillment in life, suggesting that it should not be overlooked in the pursuit of financial independence. The speaker shares personal experiences and observations to illustrate how self-discovery can lead to a more meaningful life.

๐Ÿ’กFulfillment

Fulfillment, in the context of the video, relates to a sense of satisfaction and completeness that comes from engaging in meaningful activities and living a purposeful life. The speaker contrasts the pursuit of financial independence with the pursuit of fulfillment, suggesting that the latter is more directly linked to happiness and personal growth.

๐Ÿ’กInformation Revolution

The Information Revolution, as mentioned in the script, refers to the current era where access to information and the ability to share it widely has transformed society, much like the Industrial Revolution did in its time. The video discusses how this revolution is decentralizing the flow of information and creating new opportunities for self-employment and entrepreneurship.

๐Ÿ’กSoul-sucking job

A 'soul-sucking job' is a colloquial term used to describe a job that is unfulfilling and drains one's energy and spirit. In the video, the speaker uses this term to describe traditional employment that many people find themselves in, which can feel restrictive and lead to a loss of identity or self-worth.

๐Ÿ’กPrivate Government

Private Government is a concept from the book 'Private Government' by Elizabeth Anderson, which the speaker references. It refers to the control that workplaces, particularly large corporations, exert over individuals' lives, similar to how a public government does. The video uses this concept to discuss the power dynamics within traditional employment structures.

๐Ÿ’กToxic Relationship

A toxic relationship is one that is harmful to one's well-being, often characterized by negative patterns of behavior. The video draws a parallel between staying in a toxic work environment for the sake of financial security and staying in a toxic personal relationship for similar reasons, suggesting that both are forms of self-betrayal.

๐Ÿ’กCraft or Trade

Craft or trade refers to a skill or occupation that one is skilled in or passionate about. The speaker encourages the pursuit of engaging in one's craft or trade as a means to find fulfillment and express one's unique talents, rather than just focusing on financial gains.

๐Ÿ’กInformation Economy

The Information Economy is a term used to describe the economic sector involved in the production, processing, distribution, and management of information. The video discusses how the traditional monopoly on information by educational institutions is being disrupted, allowing individuals to share their unique knowledge and experiences more freely.

๐Ÿ’กSocial Media

Social media is a collective term for websites and applications that enable users to create and share content or participate in social networking. In the video, the speaker discusses how social media has become a platform for broadcasting information and a tool for individuals to share their unique insights and experiences with a wider audience.

๐Ÿ’กHigh Income

High Income refers to earning a substantial amount of money, often more than what is necessary for basic needs and comforts. The video challenges common misconceptions about high income, suggesting that it is not only achievable but also ethical when it results from providing value to others.

Highlights

Financial Independence is viewed as a trap by the speaker, who shares personal experiences and observations.

The speaker emphasizes the importance of finding meaning and fulfillment in life without compromising one's values.

A common theme from conversations is the struggle to achieve financial freedom, personal meaning, and the expression of one's passion.

The idea that financial independence is used as a deferral tactic for self-discovery is critiqued.

Many people are attracted to financial independence due to dissatisfaction with traditional 9-to-5 jobs.

The speaker argues that financial independence does not guarantee self-discovery or fulfillment.

A high income is suggested as a solution to many life problems, challenging common limiting beliefs about earning potential.

The speaker proposes that serving others and providing value can lead to a high income ethically.

The concept of the 'information revolution' is introduced as a significant shift in the workplace and economy.

The information economy is described as being disrupted by the internet and social media, leading to new opportunities.

The traditional education system's monopoly on information is argued to be diminishing due to online platforms.

The empowerment of individuals to share unique information and experiences through social media is highlighted.

The speaker suggests that everyone has a unique piece of the puzzle that is valuable to others.

The idea that one does not need to be a superstar to have valuable information is presented.

The final message is that financial independence and money are byproducts, while self-discovery and service are the true goals.

The transcript concludes with the speaker's intention to share the content in a podcast format for convenience.

Transcripts

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I think Financial Independence is a huge

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trap and over the course of the next

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short while I'm going to explain to you

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why I've personally tasted this for

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myself in my own life I've gone full

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circle with this thing and I've also

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seen it play out in countless other

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lives as well in fact I just spent the

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entire last week speaking to a bunch of

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you and I just want to say to those that

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did thank you so much for that

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opportunity it was incredibly amazing

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for me to do I didn't really know what

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to expect going into something like that

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but I just want to say to everyone that

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I was just honestly blown away every

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single person I talked to was so nice

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was so interesting and cool and I

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honestly just feel like if we all got

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together in a room and hung out that

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everyone would be friends and we'd have

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some really interesting conversations

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together so thank you for that I learned

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so much from it and so this video today

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this stuff I want to talk to you about

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is actually a direct result of speaking

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to so many of you it just created so

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many any ideas inside of my mind that

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I'm going to try and combine into one

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main thread here and that's because in

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these conversations a common theme kept

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coming up a common problem and that was

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related to these three things the idea

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of finding Financial Freedom in your

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life the idea of finding meaning and

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fulfillment in your life and not selling

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your soul along the way in order to

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somehow achieve all three of these

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things so in other words it's this

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question of how can we find Financial

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Freedom while also finding meaning and

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fulfillment while also being able to

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practice a craft or a trade or a passion

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or Express the artwork that's inside of

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ourselves that brings us through all of

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these things so strap in buckle up I

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want to cover a lot of ground today and

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hopefully it should be pretty

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interesting to being and let's start off

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with an idea that I think will ruffle

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some feathers and that idea is

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people use Financial Independence as a

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way of putting off finding themselves

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now here's what I mean by this now this

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is very very important many many people

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myself included initially got interested

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in the space of financial Independence

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because we were struggling with this

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idea of what we wanted to do with our

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lives when we grew up or as we were

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growing up we know when you're asked as

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a kid what do you want to do when you

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grow up either we did not have an answer

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to that question or we wanted to do many

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many many many many different things and

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not just stick to one lane so you know

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we were the type of people who were

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sitting in a classroom and the teacher

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would say what do you want to be when

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you grow up little Steve and all the

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other kids would say firefighter doctor

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police officer or business person all

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that kind of stuff and we either said uh

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none of the above or all of the above

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which is kind of the same as saying none

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of the above because in today's world it

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is very different to do many many

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different things you're very much

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encouraged to pick one thing and

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specialize into that for the entirety of

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your life at least in the traditional

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Workforce Now what we did know was what

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we did not want to do

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and that was work a soul-sucking time

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sucking and just generally unfulfilling

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nine to five job we knew there was more

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to life we knew there was more to us we

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just did not know what that meant

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exactly but then once we found out about

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financial Independence our logic was

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that hey you know using this financial

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independent stuff I can just kind of

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deal with my current situation for the

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next 10 15 20 years and then at that

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point once I am financially free then I

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can move on and do that thing that I

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actually want to be doing but do you see

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what I just said there

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I said at this point in the future

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then I can do what I actually want to do

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but the problem with that is remember

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what I just said before that

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we don't really know what it is that we

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actually want to do and I'll explain

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what I mean by that first of all I

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promise you that reaching Financial

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Independence having all the Time in the

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World is Not magically going to make you

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figure yourself out it's not magically

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going to provide you the answers to the

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question what is it that I actually want

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to do what is it that actually provides

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me meaning and fulfillment in my life

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because I can direct you to a whole

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bunch of cases where people have reached

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financial and financial Financial

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Freedom had all of the time in the world

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only to feel so much more lost than they

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were before I think there is a clear

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reason why this phenomenon happens and

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it will make more sense as we continue

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along here now let's back up a little

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bit for a second and talk when we're

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talking about you know what you want to

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do you might say well now actually Steve

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I do know exactly what it is that I want

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to do I have a very clear plan of what

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I'm going to do down to the T once I am

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financially free it's definitely

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possible that that's true and I myself

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thought that a few years back

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but I would push back on that a little

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bit and just caution you and say it

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might not be what you actually think it

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is because I think if you truly knew

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what it is that you desire to do so

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badly in this magical future time

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you would be doing it right now this

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brings me to my next point which is that

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while you are putting off finding

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yourself while you are putting off

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questioning yourself discovering

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yourself figuring out what type of

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person you want to be what type of life

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you want to lead what actually matters

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to you

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you are doing yourself a disservice in

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the here and now today by subjecting

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yourself to spending the majority of

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your day in a working environment that

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you feel like is suffocating you I

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believe you are wronging yourself

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several of you that I spoke with

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highlighted this to me but one person in

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particular said it in such a way that I

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think really hits the nail on the head

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they said

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once they went into their corporate

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workplace to start working for the day

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they felt like a lesser version of

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themselves it was so strange outside of

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the workplace they would be able to

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speak normally be able to form full

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sentences speak with confidence but in

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the workplace they found themselves

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tripping over their words they they it

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was as if it sapped their very

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confidence and I think this is why the

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phrase soul sucking

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is so accurate and it just exists as a

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phrase because it aligns with this exact

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experience this person knew they were a

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vibrant individual with a ton of

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potential and could be completely

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confident outside of the workplace but

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once they were in there it was like they

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were a completely different person or a

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lesser version of themselves now you

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might say well yes Steve that's exactly

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why I'm trying to become financially

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independent so I can get myself out of

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this environment I know I actually have

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potential inside of me I know I'm a

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vibrant human being I just need to

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pull myself out of this garden and plant

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myself in another Garden where I can

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grow properly fair enough but think

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about what you're actually doing

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you're saying I will subject myself to

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this bad thing for now and for a while

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so that I can one day leave this bad

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thing I will subject myself to

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Suffocation just so one day I can

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hopefully breathe but let me ask you a

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very important question

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what if you could breathe

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right now what if you did not have to

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subject yourself to this and here's an

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interesting way to frame it that's a

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little bit different than the workplace

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would you subject yourself to a toxic

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relationship to a toxic love life just

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to then eventually get out of this

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relationship well of course not he would

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just avoid that relationship you

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wouldn't go into it that makes no sense

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but hang on a second

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because those aren't exactly the same

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situation right because

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we need something from this job you

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might say well yes I would love to just

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avoid it and not subject myself to this

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working environment but I need something

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from this working environment I need the

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money I need the security I need the

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resources that this thing provides me

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and that's of course true we all do we

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all need those things

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but do you know what else we also all

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need

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we need love

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we need companionship

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we need sex and so for the exact same

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reason people subject themselves to bad

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toxic relationships because they need

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something from it because they believe

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that this is the only place to get what

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they need I believe your career path

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your workplace environment is very much

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the same

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many things in life are like this there

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are many Universal principles that apply

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across the board to many things and this

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is no different we separate them and we

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complicate them with layers and layers

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upon abstraction and terminology and

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all that kind of stuff which can be

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useful or it can just over complicate

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things and actually have a way of hiding

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the truth so

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I'm going to be very blunt with you I

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would argue that you do not believe

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yourself capable of receiving what you

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want to in the way you want to so you

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receive it from the only place that you

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think you can if you are in a toxic

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relationship you do not believe yourself

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capable to be loved in the way that you

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want to so you receive it from a bad

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place if you are in a soul-crushing work

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environment you do not believe yourself

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capable of receiving money in the way

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that you want to so you receive it from

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the only place you think you can a bad

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place now at this point a whirlwind of

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objections may rise up inside of your

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mind

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yes but no but this but your butt my

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butt butts everywhere everybody's butts

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look there is a reason that I can say

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this with such confidence and such

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conviction and that's because it's easy

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for me to say I'm sure we're all

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familiar with that phrase it's easy for

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you to say and that's because yes it is

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easy for me to say because I am in the

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position to say it and that's because

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I've solved this problem that's why it

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is so easy for me to say

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had I had this exact problem I went

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through this exact process I had these

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exact same thoughts

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and when I came out the other end of it

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I realized that

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the answer or the solution was different

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than what I initially thought it was and

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this solution is my next point now this

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is going to be a bit of a long winded

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rant so please prepare yourselves this

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is kind of the

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culmination of all the conversations

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that I had this idea only came into my

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mind from synthesizing a whole bunch of

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different points things I've read people

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I've talked to experiences I've had in

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my own life that culminated in all the

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conversations that I had with you guys

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that it just kind of came out of me when

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I was speaking to one of you and I

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realized how powerful it was and I

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believe the person on the other end of

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the call did as well and from that point

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forward

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kind of realized that this was some

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pretty interesting or interesting way of

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looking at things so

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I'm about to share all of it with you

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now it begins with this book that I just

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recently started reading private

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government and you can see that the

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subtitle is how employers rule our lives

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and why we don't talk about it now this

play13:54

book actually is not a book it is a

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series of two lectures that were given

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by this woman Elizabeth Anderson who is

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a political philosopher and I believe

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she gave them at Princeton and the

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lectures were so interesting and well

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received that they wanted to turn them

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into a book and some other people have

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provided some extra commentary that's in

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the book now the main thesis that she's

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advancing in the book here is that

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workplaces especially large or corporate

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workplaces based basically constitute a

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form of government that controls the

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internal organization and this form of

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government is a private government now

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what does that mean what is a prime

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government well we're all pretty

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familiar with public government this is

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the when we talk about government this

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is what we're talking about the public

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government it is the organization that

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we supposedly you know democratically

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elect representatives who then go and

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serve in the government hopefully in our

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best best interest to represent us in

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that way and kind of you know speak to

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the will of the people

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in workplaces though this is very

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different they have much more of a

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private government structure and what

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Elizabeth means by this is that

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there it's it's not Democratic in that

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sense it's actually much more uh like a

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dictatorship because there's a very

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strict hierarchy structure and the

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person above you in the organizational

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chart is effectively your boss and they

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get to tell you what to do and if you do

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not listen to them there are usually

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serious consequences for doing so so

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it's a private form of government that

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has a lot of control over your life now

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this is actually kind of besides the

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point this is not the point that I want

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to talk about this is not the point that

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I'm making in this particular video

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but contained within her lectures there

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was this other point that I want to pull

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out that's going to be much more

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relevant for what I'm about to tell you

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and that is

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an investigation of the workplace and

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how it has changed throughout our last

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couple hundred years so if we go back in

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time a little bit now and this is I just

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want to also preface this by saying this

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will be a pseudo history lesson I am not

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a history expert this is not academic

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level so you know it's to illustrate a

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general Point okay

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everybody relax

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prior to the Industrial Revolution

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which was the last major change to the

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workplace

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the workplace looked very much like this

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you had high rates of self-employment

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and business ownership if we imagine

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business ownership like a circle it was

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broken up into many many many small

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pieces it was very decentralized and the

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reason this was the case is because

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people generally lived in small

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communities and in these communities you

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found people who were who all practice a

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trade or a craft or something in some

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way to serve their community so you'd

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find the Potter you'd find the cobbler

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you'd find the blacksmith Innkeeper a

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Tavern keeper horse Stabler doctor list

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goes on and on everyone kind of

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practiced a trade or craft or they might

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have worked under someone as like an

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apprentice or helped out with their

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family managing this small business so

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that was kind of the way the workplace

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was

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then the Industrial Revolution came

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along and the industrial revolution had

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this massive impact on the workplace and

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that's because it introduced this idea

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of scale this idea of

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manufacturing scale it massively

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disrupted the manufacturing side of the

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economy and the reason it did this was

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because you could now produce many many

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things at a massive scale and the effect

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of this was you could lower the cost of

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many many Goods so for example if an

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industrial manufacturer of bread could

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produce a loaf of bread for one cent

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whereas the baker down the street could

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only produce a loaf of bread for one

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dollar you are going to be able to

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massively undercut him on the price of

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your bread so as a result most people

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started buying these more industrialized

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products because they were much cheaper

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which meant that these small businesses

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could not compete and they went out of

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business but then these business owners

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who just lost their business needed to

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find work they needed to find a way to

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earn a living now

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but the only jobs that were kind of

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available were in these industrial

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factories and manufacturers so what the

play19:05

Industrial Revolution did as a result is

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it caused self-employment rates to go

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down and it caused business ownership to

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become much more centralized okay that

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was the last major change to the

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workplace on that type of scale

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until today until today and that's

play19:29

because I believe

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we are currently just in the very

play19:35

beginning

play19:36

of the biggest thing to happen to the

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workplace since the Industrial

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Revolution

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and the reason why I believe that is the

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case is because of this thing that I'm

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sure I'm not the first one to come up

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with this word

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it's just how I've kind of said it in my

play19:55

own head it's how it makes sense to me

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it's not that exciting of a term but I

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think of this as the information

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revolution

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now what do I mean by this well first of

play20:09

all

play20:10

I believe things are flipping back in

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the other direction whereas

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self-employment rates are going up and

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business ownership once again is

play20:19

becoming much more decentralized why is

play20:22

this the case it's the case because in

play20:26

the same way that the Industrial

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Revolution massively disrupted the

play20:30

manufacturing side of the economy

play20:34

I believe the information revolution

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is massively disrupting the information

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side of the economy it's massively

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disrupting the information economy what

play20:49

is the information economy

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probably didn't even think something

play20:52

like that exists but it does but the

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reason we don't really think it exists

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is because up until now

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it has been controlled by a monopoly and

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that Monopoly is the education system

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think about this for a moment

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even today but more so 10 20 30 40 50

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years ago plus

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if you wanted to obtain information

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related to

play21:22

almost anything but more specifically

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how to have a career that would provide

play21:28

you with a livelihood if you wanted to

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obtain that type of information and

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training and skills and education

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you had to obtain it from the education

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system or more specifically from a

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college or university they had a

play21:45

monopoly on this information

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but now this Monopoly has been massively

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disrupted okay but

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let me just paint a picture of how the

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information economy existed still kind

play22:01

of exists today but is in the process of

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dying

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so let's say you had one hundred

play22:07

thousand people who all wanted to obtain

play22:10

information about

play22:13

like I said earlier about basically

play22:16

information related to earning a living

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in in the world as it exists so they go

play22:22

to a university to the to do this and

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these 100 000 people pay this education

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Institution

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fifty thousand dollars each one hundred

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thousand people each pay fifty thousand

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dollars to a college or university for a

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four-year degree to obtain the

play22:40

information from them as a result

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they've collectively spent five billion

play22:45

dollars and hopefully obtain some pretty

play22:48

good information

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now here's part of the problem there's

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two big problems there

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here's problem number one

play22:56

the information that they've received

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is

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a lot of the time actually not of the

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best quality and the reason that is the

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case is because the person you're

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receiving your information from at a

play23:11

college or university is not necessarily

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a direct practitioner of the very thing

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that you're trying to learn they might

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know this subject in an academic sense

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they might know it in theoretical ex

play23:25

sense they may even have a little bit of

play23:28

practical experience but they're not a

play23:31

true direct practitioner of this

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information on top of that they may not

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have solved

play23:39

a problem in their life that you're

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currently trying to solve in yours or

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they don't have the life outcome that

play23:48

you want in your life their life and

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where it led to may look very different

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from what you want your life to be so

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the quality of information may not be

play23:59

the highest

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and you've spent a lot of money for this

play24:04

information as a result of the Monopoly

play24:06

over it

play24:08

now

play24:10

I believe the information economy

play24:13

has been split wide open in this

play24:16

Monopoly is in the process of being

play24:18

massively disrupted and that's because

play24:21

of the internet and because of the

play24:25

connectivity of it and the connectivity

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of social media now there's so many

play24:33

misconceptions about social media

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I've had tons of them but in my process

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of actually participating it for several

play24:41

years now and building a successful

play24:43

career by leveraging it I've come to

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realize what it actually is and all it

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is

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a medium through which to broadcast

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information that anyone can use

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information does not just mean text it

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does not mean audio does not mean video

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it does not mean music art whatever it

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means all of these things it doesn't

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have to just be education

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information is the same thing as media

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let's equate those two things so social

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media is just a way to broadcast

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information

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that anyone can use

play25:25

and because of that

play25:27

here's what is now happening

play25:30

in the information economy

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let's say you have those same 100 000

play25:36

people who are looking to obtain

play25:39

information

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instead of going to one entity who has a

play25:44

monopoly on this to obtain that

play25:45

information

play25:47

let's say these 100 000 people end up

play25:50

finding one thousand individuals

play25:53

different individuals broadcasting

play25:55

different information about a whole

play25:58

bunch of different subjects on social

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media and so as a result you basically

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get groups of 100 people

play26:05

going to these 1 000 individuals and the

play26:09

reason they go to these 1000 individuals

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is because they've been broadcasting the

play26:14

information on social media which means

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that they've been showing that they are

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a direct practitioner of this

play26:21

information and they have either a

play26:24

solved a problem in their life that the

play26:27

person searching for information is

play26:29

currently trying to solve or B they have

play26:32

the life outcome that that person wants

play26:35

or both of those things can also be true

play26:38

so

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they go to this person to learn

play26:41

information from them and because they

play26:43

want a specialized maybe more high-touch

play26:46

Hands-On transmission of that

play26:48

information they're willing to exchange

play26:50

value for it they're willing to exchange

play26:52

money for it and so they say I will pay

play26:55

you this person one thousand dollars to

play26:58

teach me that thing now that sounds like

play27:00

a lot of money one thousand dollars to

play27:03

give to some person you've never met

play27:06

before who's not some official

play27:08

institution of information how could I

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possibly give that much money to this

play27:14

person

play27:15

well

play27:16

you just give gave 49

play27:19

000 more dollars to an official

play27:22

institution and got information as

play27:26

a result

play27:27

so more and more people today are

play27:29

realizing that

play27:30

actually giving this random person one

play27:34

thousand dollars is way better for me

play27:36

because guess what the information is of

play27:39

a much higher quality

play27:43

so in this type of transaction

play27:46

everyone massively wins the person

play27:48

looking for the information massively

play27:50

wins because they get much higher

play27:52

quality information and the person

play27:55

transmitting the information massively

play27:57

wins as well because in that

play27:59

hypothetical transaction I just

play28:01

highlighted

play28:03

the person getting the information saved

play28:05

forty nine thousand dollars in four

play28:07

years of their life and the person

play28:09

giving the information got one hundred

play28:12

thousand dollars in exchange

play28:14

everyone massively wins

play28:17

this is the information revolution this

play28:20

is the mat the next big disruption I

play28:24

think of the workplace and the economy

play28:27

and it's happening in the information

play28:30

world it's happening in the education

play28:33

world it's happening in this thing I

play28:35

think of as the information economy that

play28:38

I think most people didn't even realize

play28:40

existed until now now okay that was very

play28:45

long rant I just said a bunch of stuff

play28:48

um let's pause for a second because it

play28:51

might have sounded like a very very very

play28:53

long way of saying you should become a

play28:56

YouTuber or an instagramer or a tick

play28:59

tocker or a blogger or something like

play29:01

that no absolutely not

play29:03

I don't think you should become any one

play29:05

of those things I am not any one of

play29:07

those things I don't want to be one of

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those things you can I mean if you do

play29:12

that's totally fine you can be you can

play29:14

be one of those things

play29:15

but that's not the point that I am

play29:17

making here I'm not saying you should

play29:19

become those things I'm not saying

play29:21

that's the solution to everything we've

play29:23

talked about thus far I'm saying the

play29:25

solution is to become and be you now

play29:29

what do I mean by that

play29:32

you have I have we all have a very

play29:37

specific recipe

play29:40

that makes us us

play29:43

I have been through

play29:45

a set of Life Experiences I have had a

play29:49

series of thoughts I have met consumed

play29:53

anything and everything that's ever

play29:55

happened to me basically

play29:58

makes up this recipe that I am today and

play30:02

the same goes for you

play30:05

now the beautiful thing about this

play30:07

recipe is the only place that somebody

play30:10

can get it

play30:12

is from you

play30:15

they're mer there there may be similar

play30:17

ones out there different recipes may be

play30:21

inspired by different people well of

play30:24

course they definitely are inspired by

play30:26

other people

play30:27

but none of them will be quite like

play30:30

yours just like none of them are quite

play30:33

like mine this is a very beautiful and a

play30:36

very powerful thing and that's because

play30:40

whatever problem

play30:42

you are currently trying to solve in

play30:44

your life or a problem that you may have

play30:46

faced and surpassed

play30:49

you can trust and you can guarantee

play30:53

that there are basically these people

play30:56

out there who exist in the world that

play30:58

you probably have never met

play31:00

which are like past versions of yourself

play31:03

that relate to you very much because

play31:05

they they like your recipe it's kind of

play31:08

similar to theirs not the exact same but

play31:10

it's similar

play31:12

and they're facing either the same

play31:14

problem you're facing or

play31:18

they're trying to solve one that you've

play31:21

already solved

play31:23

and the ability to go from point A to B

play31:26

to go from my however problem to I

play31:28

solved a problem that line in between

play31:30

those two things is very very very

play31:33

valuable because think about it if you

play31:35

currently have a problem right now

play31:38

wouldn't you think information on how to

play31:40

get past that problem would be very

play31:43

valuable to you now it's very important

play31:45

I'm not saying that it should just skip

play31:48

you right through the problem that's not

play31:50

a good thing we don't want to rob anyone

play31:53

from the experience of going through the

play31:55

problem themselves That's essential

play31:57

experience

play31:58

but if it could save you from making

play32:00

major mistakes or just show you a

play32:02

quicker way to solve that problem

play32:05

that's valuable information we would all

play32:08

very much appreciate it we would all

play32:10

very much appreciate a map that tells us

play32:13

how to get to where we're going

play32:14

hopefully with some you know nice

play32:16

comments and suggestions and

play32:17

recommendations on that map I believe

play32:21

that every person has a very very very

play32:23

very very small piece of the puzzle that

play32:26

makes up the tapestry of the humanity

play32:29

and our puzzle piece fits in very

play32:33

closely and very well with the other

play32:36

people who also have similar recipes to

play32:38

us who relate to us who can connect with

play32:41

us and we can serve those people

play32:43

everybody has their peace and their

play32:47

peace is valuable and so the currency of

play32:50

this economy I was describing earlier

play32:51

this information economy keep using the

play32:54

word information maybe I need to think

play32:56

of some different words to break it up a

play32:58

little bit but the currency of the

play33:01

information economy is information and

play33:04

that puzzle piece everybody possesses is

play33:07

a unique set of information do you see

play33:10

what I'm saying here you can participate

play33:12

in this information economy Because by

play33:16

the laws of Heaven and Earth

play33:18

you have information that no one else

play33:20

can possibly have and that's a valuable

play33:23

thing now as I said before

play33:26

everyone wins in this new information

play33:30

revolution

play33:31

and one of the reasons that the

play33:33

information Distributors win and as a

play33:37

side note most people who participate in

play33:39

the information economy are both

play33:41

Distributors and consumers of

play33:43

information it's kind of like a cyclical

play33:44

system which makes it very nice

play33:46

everyone's supporting and consuming off

play33:49

of each other it's great

play33:51

um but back to what I was saying one of

play33:54

the big ways that the information

play33:55

Distributors win

play33:58

is that it unlocks the opportunities to

play34:02

receive a high income and a high income

play34:06

solves almost all problems that you can

play34:09

experience in life save a few and you

play34:12

probably have limiting beliefs that are

play34:15

holding you back from achieving one

play34:17

again I can say this easily and with

play34:20

confidence because I very much did I

play34:23

very very very very much did so what do

play34:26

I what do I mean by these two things a

play34:27

high income solves a lot of problems and

play34:30

you probably have limiting beliefs that

play34:31

prevents you from achieving one let's

play34:33

start with number one how does a high

play34:36

income solve a lot of problems in life

play34:38

death

play34:38

money obviously can't solve this at

play34:41

least with our current understanding of

play34:42

biotechnology but hey maybe that's in

play34:45

the process of changing

play34:46

I don't know I don't really know what

play34:48

that world looks like though

play34:50

um happiness Money Can't directly solve

play34:55

Love Money Can't directly solve

play34:59

this is where finding yourself very much

play35:01

comes into play and becomes very

play35:03

important though but pretty much

play35:05

everything else

play35:07

having a high income

play35:09

solves it but you probably have limiting

play35:12

beliefs related to this you have you

play35:15

probably have limited beliefs related to

play35:17

you being able to achieve what you may

play35:19

think of as a high income

play35:21

and if you don't believe me I'm going to

play35:23

attempt to draw them out inside of your

play35:26

mind right now and that's because I'm

play35:29

going to say to you

play35:31

ready ready for this

play35:33

a high income is multiple six figures

play35:38

minimum objection I can't do that

play35:40

objection that's not realistic objection

play35:44

that's unethical objection I would have

play35:47

to sell my soul to do that objection not

play35:51

everyone can do that okay

play35:54

those are some pretty good objections so

play35:56

let's let's maybe go through them and

play35:58

kind of tackle them one by one so to the

play36:00

first one

play36:02

I can't do that you know there's a

play36:04

really cliche phrase but some cliches

play36:07

are cliches for a good reason and

play36:10

I'm gonna paraphrase it here but it goes

play36:12

along the lines of if you think you can

play36:15

you're right and if you think you can't

play36:16

you're also right to the second saying

play36:18

that's not realistic

play36:20

well

play36:23

expecting water to boil at 100 degrees

play36:27

Celsius at sea level

play36:30

that's realistic that's a realistic

play36:33

expectation and the reason why that's

play36:35

realistic is because it 100 aligns with

play36:39

the laws of Heaven and Earth physics all

play36:42

that stuff as we know them

play36:45

whether or not you can earn a high

play36:47

income

play36:49

has nothing to do with the laws of

play36:51

physics

play36:52

it has nothing to do with objective laws

play36:54

it has everything to do with subjective

play36:58

information that you tell yourself

play37:02

inside of your own mind now to the third

play37:04

saying that it's unethical to earn a

play37:07

high income

play37:09

I would actually argue that it actually

play37:11

must be an ethical thing it actually is

play37:15

an extremely ethical thing to earn a

play37:18

high income now obviously there are

play37:20

exceptions to this Rule and the

play37:23

exceptions are people who are outright

play37:26

intentionally deceitful dishonest

play37:29

scammers Bad actors

play37:31

people who steal essentially

play37:34

yeah that's not ethical I'm not talking

play37:37

about them

play37:39

in all other cases in order for money to

play37:43

be exchanged the person exchanging the

play37:45

money must believe that they are

play37:48

exchanging money for something that is

play37:49

at least as valuable as the money that

play37:52

they were giving and ideally as a as a

play37:55

good way to practice business and the

play37:57

most successful businesses generally

play38:00

give people more value than the money

play38:04

that is being transacted so as a result

play38:08

it means that if you earn a high income

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it means that you are generating a large

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amount of value for society also known

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as helping people serving others you

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receive money as a byproduct of doing

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that so

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it must be ethical and if you're getting

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a lot of money it means you are serving

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a lot of people or serving them in a

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very impactful way now to the fourth

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saying that I would have to sell my soul

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to make that kind of money this is a

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very common thought of people who are

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artistically inclined it's a thought

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that I very much am sympathetic to to

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this I would say that's only true if you

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make earning money the goal

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you can instead make serving others the

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goal as I just talked about money comes

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as a byproduct of serving others so you

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have these two approaches to I guess

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making a goal of earning money you can

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just make earning money the goal or you

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can make serving others the goal two of

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them can lead to earning a lot of money

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only one of them is going to lead to

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keeping your soul intact and to the

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fifth objection saying not everyone can

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do that

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that's actually probably the most

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accurate one

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however I would make a slight adjustment

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to that to make it even more accurate

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and I would change it from not everyone

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can do that to not everyone will do that

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let me explain what I mean I know these

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days it can seem like

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everybody has some type of career

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related to social media everyone is an

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influencer blah blah blah

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but think about this for a second

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let's say there was one million people

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who had a career on social media I have

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no idea how many there are but

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that's a lot of people

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now though think about that there are

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something like 4.5 billion internet

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users so that means

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like

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0.02 percent of Internet users are

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earning a living from it are making a

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career off of it that's an extremely

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small amount of people and it will never

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be a huge massive percentage of this and

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I'm not saying it should be I'm not

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saying this is something for everyone

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I'm just saying if those three things

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that I mentioned at the beginning of

play40:45

this video

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are the path you are looking for in life

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this is the way that I have discovered

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for myself to solve this and I believe

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this is a way many many many people also

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can I want to be clear again I am not

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saying that path is to become a YouTuber

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tick tocker Instagram or blogger

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influencer

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that's not what I'm saying I'm saying to

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discover and then become yourself and

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then to broadcast this unique set of

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information contained only in you

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out on social media and what this will

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effectively do is it will send up a

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flare into the night and this flare that

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you send up will be of this very

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specific color that is unique to you and

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you alone and everyone who is walking

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around in the night looking for

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information looking up in the sky at all

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of these flares

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some of them not all of them you do not

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need to speak to everyone in fact you

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only need to speak to a very specific

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and small number of people who again

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connect with you and want the

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information that you and you alone have

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they will come to you to get that

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information

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this is the power of this information

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revolution you do not need to have some

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groundbreaking Earth shattering

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knowledge you do not need to be a

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superstar

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I'm not any of those things

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you have information that is unique to

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you

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and that's what makes it valuable to

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other people now there is still so so so

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so so so much I could say about this my

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brain is exploding but I think I've been

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talking for a very long time already

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today this has probably been the longest

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video I've ever made like this uh but if

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you've liked this type of thing you

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found it interesting or valuable please

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let me know I've actually decided

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because this is as long as it is I'm

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going to also put it into a podcast

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format I guess you could say I am

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starting my own podcast not really it's

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more just if it's a more convenient way

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for you to listen to this type of long

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form thing

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uh it's going to be available for you to

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listen to that way as well so you can

play43:20

find a link down below for that if that

play43:23

interests you and if I continue to

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create more long-form stuff like this

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I'll make sure it goes there as well now

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if I could just put a cap on this whole

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thing

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a sentence to finish it off a period if

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you will

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money

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is a byproduct

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not the goal

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Financial Independence is a byproduct

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not the goal

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you

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are the goal thank you for taking the

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time to chat with me here today I wanted

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to basically sum up this incredible week

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of talking with all of you and I hope

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I've done a good job here so

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thank you and take care until next time

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Related Tags
Financial IndependenceSelf-DiscoveryInformation EconomySocial MediaCareer AdviceMonopoly DisruptionPersonal GrowthEconomic ShiftValue CreationSoul-Sucking Jobs