40 Money Books Made Me RICH | 40 Books Summaries in 20 Mintues

Summary

The video script discusses the journey of six startups in the audio book space, highlighting their funding and profitability status. The speaker, a founder of Google, shares personal insights on business and investing, emphasizing learning from books rather than personal experience. The script categorizes 40 recommended books into basic, investment, and business, aiming to provide a comprehensive overview of wealth creation. It also touches on the importance of human psychology in business, the strategy of selling, and the significance of productivity and habits in achieving success.

Takeaways

• 📈 The speaker discusses six startups in the audio book space, including their launch years and funding received, emphasizing the profitability of one particular startup.
• 💼 The speaker clarifies that they learned about business not from their family or environment but through self-study, specifically mentioning reading books as their primary source of education.
• 📚 The speaker categorizes the recommended 40 books into four main categories, starting with 'Basic Books' that teach the fundamental principles of money and wealth management.
• 🔢 The speaker shares a personal story about how their perspective on wealth was changed by reading 'Rich Dad Poor Dad', which introduced them to concepts like assets and liabilities.
• 💼 The second category, 'Cash Flow Quadrant', helps to understand the different types of businesses and the importance of scaling a business to achieve financial success.
• 📊 The third category, 'Fake', is about recognizing the difference between theoretical knowledge and practical application, using the example of how exams in school differ from real-world team collaboration.
• 💰 The speaker suggests that understanding 'Psychology of Money' and 'Richest Man in Babylon' is crucial for improving one's mindset towards money and wealth accumulation.
• 🏦 The speaker explains investment strategies, starting with index funds and the importance of having a long-term perspective on investments for growth.
• 📈 The 'Coffee Can Investing' strategy is introduced, where the speaker talks about investing in companies that meet certain criteria, such as consistent growth over 10 years.
• 💡 The 'Dividend Investing' method is described, emphasizing the importance of understanding a company's cash flow and how it distributes profits to shareholders.
• 📊 The final investment strategy mentioned is 'Learn to Earn', which involves tracking companies' performance over time and making informed decisions about where to invest.

Q & A

What are the six startups mentioned in the audio book space?

The six startups mentioned are KhabarI, Headfone, Cook AA, Pocket FM, Gagol, and 8 OS, which launched in 2017, 2018, 2019, and 2021 respectively.

What is the approximate funding received by KhabarI, Headfone, and Pocket FM?

KhabarI has received funding close to 22 crores, Headfone around 480 crores, and Pocket FM around 800 crores.

Which startup among the mentioned ones is profitable, and what is the speaker's relation to it?

Gagol is the only startup mentioned that is profitable. The speaker is the co-founder of Gagol.

What is the speaker's educational background and how did it influence his perspective on making money?

The speaker started with engineering in 2007 and initially believed that earning a high salary from a big job was the only way to make more money.

What is the first book recommendation made by the speaker for understanding the basics of money?

The first book recommendation is 'Rich Dad Poor Dad' by Robert Kiyosaki.

What are the four categories the speaker has divided the books into for learning about money?

The speaker has divided the books into four categories: Basic Books, Cash Flow Quadrant, Fake (which includes teachers, money, exams), and Basic Books on money.

What is the concept of 'Fake' as explained in the script?

The 'Fake' concept refers to the idea that much of what is taught in traditional education systems, like exams and money, does not have practical use in real life.

What are the two books recommended for understanding the psychology of money?

The two books recommended are 'The Psychology of Money' and 'Richest Man in Babylon'.

What is the speaker's view on the importance of understanding the source of a company's earnings for investment?

The speaker believes that understanding the source of a company's earnings for the next three to four years is the most important aspect of investment.

What are the four investment methods discussed in the script?

The four investment methods discussed are Index Funds, Coffee Can Investing, Dividend Investing, and learning about investing by tracking high-growth companies.

What is the significance of the 'Eat the Frog' concept in terms of productivity?

The 'Eat the Frog' concept emphasizes the importance of starting the day with the most challenging task to improve productivity.