15 Secrets Only Billionaires Know

Summary

This script uncovers the secrets of billionaires, revealing that most do not own 100% of their businesses and that real estate is a millionaire's game, while private equity propels wealth to billions. It emphasizes the importance of using other people's money to scale businesses and the strategy of buying low and selling high. Art as a store of value, the insignificance of liquid wealth for the ultra-rich, and the role of experts in minimizing risk are also highlighted. The script dispels myths about stocks and luck in wealth creation, and stresses the importance of decision-making and persuasion skills for success.

Takeaways

• 💼 **Ownership Diversification**: Billionaires typically own a smaller percentage of their businesses, allowing for growth through the infusion of outside capital.
• 🏘️ **Real Estate vs. Private Equity**: While real estate can make you a millionaire, private equity investments are key to building billionaire wealth.
• 🤝 **Leverage Other People's Money (OPM)**: Billionaires often use other people's money to fund their ventures, scaling their businesses and increasing valuations.
• 📈 **Buy Low, Sell High Strategy**: Billionaires apply the principle of buying low and selling high across various industries, optimizing markup and scale.
• 🎨 **Art as a Store of Value**: Art is a preferred asset class for the ultra-wealthy due to its portability and potential for high returns.
• 📊 **Stocks and Luck Limitations**: Stocks and luck may contribute to millionaire status, but systematic strategies and planning are required for billionaire wealth.
• 🤑 **Wealth Creation Through Others**: New billionaires often bring along early investors, multiplying wealth among a network of believers in their vision.
• 💸 **Illiquidity of Wealth**: Most of a billionaire's wealth is not liquid; they use assets as collateral for loans rather than selling them for cash.
• 🌐 **Crisis as Opportunity**: Billionaires view economic downturns as opportunities to acquire assets at a discount, setting up for future growth.
• 🧐 **Surrounding with Experts**: Billionaires rely on experts to mitigate risks and maximize returns, ensuring they can focus on strategic growth.
• 💼 **Enterprise Over Consumer**: Billionaires often profit more from enterprise deals than direct-to-consumer sales, focusing on B2B models for recurring revenue.
• 🏛️ **Wealth and Context**: Many billionaires come from privileged backgrounds, which provided them with the resources and opportunities to succeed.
• 🛠️ **Exploitation in Supply Chains**: The production of technology and other goods often relies on underpaid labor, a reality hidden from consumers.
• 🧘 **Obsessive Focus**: Billionaires are often singularly focused on wealth and success, willing to make significant personal sacrifices to achieve their goals.
• 🗣️ **Decision-Making and Persuasion**: The ability to make high-impact decisions and persuade others is crucial for building and maintaining billionaire status.

Q & A

How many billionaires are there in the world as of 2023 according to the script?

As of 2023, there are 3,112 billionaires in the world.

What is the common misconception about owning a business when you become a billionaire?

The common misconception is that to become a billionaire, one must own 100% of their business. However, most billionaires, such as Jeff Bezos, Elon Musk, Bernard Arnault, Warren Buffett, and Larry Ellison, own a significant but not majority stake in their respective companies.

Why is owning a smaller percentage of a multi-billion dollar company more lucrative than owning 100% of a smaller business?

Owning a smaller percentage of a multi-billion dollar company is more lucrative because the overall value of the company is much higher, thus even a smaller percentage represents a larger absolute wealth compared to owning 100% of a smaller business.

What is the running joke among the ultra-wealthy about real estate?

The running joke among the ultra-wealthy is that real estate is the 'dumb millionaire game', implying that it's a simpler path to millionaire status compared to the more complex strategies billionaires employ.

How do billionaires typically use other people's money to make themselves rich?

Billionaires often start by seeking funds from friends, family, banks, and investors, offering a percentage of their business in exchange for capital. They then use this money to grow their business, increase revenue, and eventually sell more shares at a higher valuation, using the funds to further expand and scale their operations.

What is the main principle behind every business according to the script?

The main principle behind every business, as stated in the script, is the 'Buy Low, Sell High' equation, with the scale of transactions being the key differentiator.

Why do billionaires prefer art as a store of value?

Billionaires prefer art as a store of value because it is easily movable, can be leased to museums, and serves as a bargaining chip. It is more convenient to move large sums of money in the form of art rather than in hard assets like gold or silver.

What is the role of luck in becoming a billionaire according to the script?

While luck may help one become a millionaire, the script suggests that it is not a significant factor in amassing a billion-dollar fortune, which requires strategic planning and execution over time.

Why do billionaires keep less than 5% of their worth liquid?

Billionaires keep less than 5% of their worth liquid because they prefer to have their wealth tied up in assets that generate income or appreciate in value. When they need cash, they use their assets as collateral for loans rather than selling the assets.

How do billionaires view crises as an opportunity?

Billionaires view crises as opportunities to purchase assets at significant discounts, akin to a 'Black Friday' event for the wealthy, allowing them to make strategic investments for long-term growth.

What are the two billionaire-tier skills that the script suggests are essential to master?

The two billionaire-tier skills mentioned in the script are decision-making and persuasion, which are crucial for making high-value decisions and convincing others to support one's vision and mission.

Outlines

00:00

💼 Wealth Insights from Billionaires

This paragraph reveals 15 secrets known only to billionaires, starting with the fact that most billionaires do not own 100% of their business, using Jeff Bezos and Elon Musk as examples. It emphasizes that owning a smaller percentage of a larger, more valuable business is more lucrative than full ownership of a smaller one. The paragraph also discusses the importance of real estate and private equity in wealth accumulation, the strategy of using other people's money to scale a business, and the concept of 'buy low, sell high' as a universal wealth-building principle. It concludes with the idea that art is a favored asset class for the ultra-wealthy due to its portability and potential for appreciation.

05:02

🏦 Leveraging Other People's Money for Wealth

The second paragraph delves into the strategy of using other people's money to become wealthy, detailing a step-by-step process of how billionaires leverage investments to scale their businesses. It explains how starting with a small stake in a business and gradually increasing its value through external funding, revenue growth, and strategic sales can lead to an IPO and substantial wealth creation. The paragraph also touches on the story of UiPath, which used this method to reach a $35 billion valuation, illustrating the power of this approach in wealth accumulation.

10:02

💼 The Mindset of Billionaires

This paragraph explores the mindset and strategies of billionaires, including the importance of liquidity, the use of debt, and the exploitation of crises for wealth creation. It explains that most billionaires keep a small percentage of their wealth in liquid form, often using their assets as collateral for loans. The paragraph also highlights how billionaires view crises as opportunities to acquire businesses at discounted prices, and the significance of having a long-term perspective in wealth building. Additionally, it discusses the role of experts in minimizing risk and maximizing returns, and the importance of decision-making and persuasion skills in achieving billionaire status.

15:02

💼 Enterprise Deals and Socio-Economic Context

The fourth paragraph discusses the reality of enterprise deals being the source of most billionaires' wealth, as opposed to direct-to-consumer sales. It uses Amazon's AWS and Google's cloud services as examples of businesses that generate significant revenue from enterprise customers. The paragraph also addresses the socio-economic context in which many billionaires start their journey, often having access to resources and a safety net that others do not. It challenges the notion of 'starting from the bottom' and encourages viewers to leverage their access to education and technology to their advantage.

20:04

💼 The Dark Side of Billionaire Wealth

This paragraph uncovers the darker aspects of wealth accumulation, including the exploitation of cheap labor and the obsession with money and success. It discusses the use of child labor in the production of cobalt for electronic devices and the exploitation of workers in the fashion industry. The paragraph also touches on the psychological traits of billionaires, suggesting that many are sociopathically focused on wealth and success, often at the expense of personal relationships and well-being.

💼 Mastering Decision-Making and Persuasion

The final paragraph emphasizes the importance of decision-making and persuasion as key skills for achieving billionaire status. It argues that the ability to make high-value decisions with significant upsides is crucial, as is the ability to persuade others to join one's mission. The paragraph suggests that these skills are essential for attracting talent, customers, and investors, and that mastering them can lead to exponential growth and success. It concludes with a call to action for viewers to improve their decision-making processes and persuasive abilities.

Keywords

💡Billionaires

Billionaires are individuals with a net worth of at least one billion dollars. In the context of this video, they represent a unique class of wealthy individuals whose perspectives and strategies for wealth accumulation differ significantly from the average person. The script discusses various secrets and strategies attributed to billionaires, such as owning a smaller percentage of a larger, more valuable business rather than a larger percentage of a smaller one.

💡Ownership Percentage

Ownership percentage refers to the proportion of a business that an individual or entity owns. The script highlights that many billionaires do not own 100% of their businesses, using Jeff Bezos's 12.7% stake in Amazon as an example. This concept is tied to the idea that owning a smaller percentage of a highly valuable business can be more lucrative than complete ownership of a smaller business.

💡Real Estate

Real estate is property consisting of land and the buildings on it, along with its natural resources. The video script suggests that while real estate can make one a millionaire, it is private equity that propels individuals to billionaire status. It implies that real estate is considered a 'dumb millionaire game' in contrast to the more sophisticated wealth-building strategies of the ultra-wealthy.

💡Private Equity

Private equity refers to investment funds that invest in private companies or buy out public companies, resulting in the delisting of public equity. The script positions private equity as a key component of the wealth of billionaires, suggesting that it represents over 70% of their net worth, in contrast to real estate's role for millionaires.

💡Leverage

Leverage, in a financial context, is the use of borrowed money to increase the potential return of an investment. The video explains that billionaires often use other people's money to scale their businesses, thereby leveraging their own wealth. This concept is exemplified in the script through the step-by-step process of raising funds and increasing valuations to achieve billionaire status.

💡Buy Low, Sell High

The phrase 'buy low, sell high' is a fundamental principle in investing, where one purchases assets at a low price and sells them at a higher price to make a profit. The script emphasizes that this principle applies to all businesses, from commodities to media companies, and is a key strategy used by billionaires to increase their wealth.

💡Markup and Scale

Markup refers to the difference between the cost of a product and its selling price, while scale refers to the volume of transactions or operations. The video explains that optimizing markup and scale is crucial for wealth accumulation. For instance, Amazon has small margins but a large number of transactions, while Tesla has high margins and a moderate transaction volume.

💡Art as an Asset

The script describes art as a preferred store of value for billionaires, particularly because it is easily movable compared to other assets like gold or silver. Art can be used as a bargaining chip and is often referred to as the 'billionaire asset' due to its profitability and portability.

💡Liquidity

Liquidity refers to the ease with which an asset can be converted into cash without affecting its price. The video states that less than 5% of a billionaire's worth is liquid, meaning most of their wealth is tied up in assets like stocks or businesses. When they need cash, they often use their assets as collateral for loans rather than selling them.

💡Crisis Investing

Crisis investing involves taking advantage of market downturns or crises to purchase assets at a discount. The script suggests that billionaires view crises as opportunities to buy assets at significantly reduced prices, which can later increase in value, thus contributing to their wealth.

💡Experts and Advisors

The script emphasizes the importance of surrounding oneself with experts and advisors to mitigate risks and increase returns. Billionaires often rely on the expertise of accountants, lawyers, and executive coaches to make informed decisions and to grow their wealth exponentially.

💡Enterprise Deals

Enterprise deals refer to business-to-business transactions, which are often more lucrative than direct-to-consumer sales. The video uses Amazon's AWS and Google's cloud services as examples of enterprise deals that generate significant recurring revenue, highlighting that most of the wealth is generated through business transactions rather than individual consumer sales.

💡Wealth Inequality

Wealth inequality refers to the unequal distribution of assets among different social classes or individuals. The script points out that the wealthiest 10% of Americans own 89% of all US stocks, indicating a significant disparity in wealth and investment opportunities between the top earners and the rest of the population.

💡Sociopaths and Success

The term 'sociopath' in this context refers to individuals who are excessively focused on success and wealth, often at the expense of personal relationships and well-being. The script suggests that many billionaires exhibit a sociopath-like obsession with money and success, which drives their accumulation of wealth.

💡Decision Making and Persuasion

Decision making is the process of selecting a course of action from among multiple alternatives, while persuasion is the ability to convince others to adopt a belief or behavior. The script identifies these two skills as critical for achieving billionaire status, with decision making being essential for making high-impact choices and persuasion being vital for sales, communication, and leadership.

Highlights

As of 2023, there are 3,112 billionaires worldwide with unique perspectives on life and business.

Most billionaires do not own 100% of their businesses; diversified share ownership can accelerate wealth growth.

Real estate can make you a millionaire, but private equity is the key to becoming a billionaire.

Using other people's money to grow your business is a common strategy among billionaires.

Billionaires often scale their businesses by selling portions at increasing valuations to external investors.

Buy low, sell high is a universal principle for wealth accumulation, applied differently by scale.

Art is a preferred store of value for the ultra-wealthy, easily movable and profitable.

Stocks and luck alone are insufficient paths to billion-dollar wealth; strategic growth is essential.

New billionaires often help turn other millionaires into billionaires through early investments.

Less than 5% of a billionaire's net worth is typically liquid; they use assets as collateral for loans.

Billionaires view crises as opportunities to purchase assets at significant discounts.

Surrounding oneself with experts minimizes risk and increases returns on investments.

Enterprise deals, not direct-to-consumer sales, are where most billionaires make their money.

Many billionaires have advantageous backgrounds that facilitated their rise to wealth.

Some industry tycoons amass wealth through practices akin to exploiting cheap or child labor.

Billionaires are often sociopathically focused on money and success, willing to sacrifice almost everything.

Decision-making and persuasion are the key skills for achieving billionaire status.

The billionaire investor portfolio shows a shift from retirement funds to trust funds as net worth increases.

The wealthiest 10% of Americans own 89% of all US stocks, emphasizing the importance of asset ownership.

Transcripts

as of 2023 there are

3,112 billionaires in the world the

billionaire perspective on life is quite

different from anything you've ever

experienced and it'll definitely go

against many of the things you believe

here are 15 Secrets only billionaires

know number one you don't usually get to

$1 billion and still own 100% of your

business Jeff basos owns 12.7% of Amazon

Elon Musk owns 133% of Tesla Bernard

Arno owns 46% of lvmh Warren Buffett

owns 16% of Burkshire haway Larry

Allison owns 35% of Oracle you get the

idea most millionaires are share

protective they guard their shares like

Hawks without realizing they're actually

keeping themselves from acceler rating

upwards in a shorter period of time

here's a wakeup call owning 15% in a

multi-billion dollar pie is a lot more

financially lucrative than owning 100%

of your $3 million

business number two real estate will

make you a millionaire private Equity

makes you a billionaire the running joke

around the ultra wealthy is that real

estate is the dumb Millionaire game you

can become a millionaire in real estate

even if you don't have the brain power

to do anything else ask any millionaire

and they'll tell you almost half 35 to

50% of their net worth is tied up in

real estate ask any billionaire and

you'll quickly realize business

interests private Equity make up for

over 70% of their net worth the most

productive way to increase your net

worth is by owning a business below it

up and then use the funds to buy pieces

of other businesses and do it all over

again

number three do not use your own money

use someone else's to make yourself rich

you can literally earn your way to $1

million there are plenty of jobs out

there where if you put your head down

put in the Years stack those checks

you'll get to Seven figures doctors

lawyers Tech Engineers they all earn a

ton of money from their salaries but you

cannot get to $1 billion the same way

your financial life un locks vertically

when you realize you can use other

people's money to make yourself rich

here's how most billionaires do it step

one they go to friends family Banks and

Angel Investors with an idea that

they're willing to go all the way to

make it happen they need $100,000 to

start the business and give off 20% of

the company this values the company at

$500,000 their 80% share of this new

business is worth

$400,000 and we barely started step two

they get some revenue and they build a

team ready to scale let's say the

company at this point is making $1

million in recurring Revenue per year

step three they then go to some external

investors and sell 20% of the business

at a $10 million valuation meaning they

now have $2 million in cash and the

remaining 60% of the company is now

worth $6

million use that $2 million to go from1

to $110 million in yearly recurring

Revenue step five you guessed it you go

to raise funds again this time at a $100

million valuation you sell 20% more of

the business to get that $2 million at

this point the 40% you're left with is

worth $40

million step six you use the $20 million

to develop a product for other companies

and hire salespeople this blows up your

recurring revenue and in two short years

your company is ready to go public step

seven you file for an IPO where the

company floats 10% of its shares on the

public market at A10 billion valuation

you and everyone that's invested in your

company along the way is now a

billionaire at every stage of this

journey you used other people's money to

scale up to hire people to develop

products to get new sales and with every

one of those moves the valuation went up

now before you call on what we

just told you know that this is the

simplified model uip path has used to

IPO at a $35 billion valuation and we

were fortunate enough to learn from the

founder along the way number four

everything is a Buy Low cell High

equation only the scale

differs some billionaires trade in

Commodities coffee Metals Etc others

trade in shipping those Commodities

where the cost of gas people and

transport is lower than what others are

willing to pay you to get it delivered

others trade in Risk in debt Tech and

media companies trade in attention and

eyeballs buy them low sell them high use

the profit to do it larger over and over

again once you understand that every

business is in the Buy Low sell High

business the way you look at yours

starts to change there are two important

things to optimize if you want to be

rich one what your markup is and two

what your scale is meaning the number of

transactions you're able to do Amazon as

an e-commerce store has tiny margins but

a lot of transactions Tesla has

incredible margins and a decent number

of transactions a business grows when

one of three situations occur one you

charge more and maintain Ain the same

number of transactions artists use this

model two you charge the same but

increase the number of customers when

fast food chains open up new locations

and three you charge more while

increasing the number of transactions

luxury Brands used this strategy which

actually made Bernard Arno the richest

man in the world the secret most

billionaires know is that once you move

into a different bracket of scale you

have incredible negotiating power on on

how low you can buy only billionaires

know that the profit is made at the

point of purchase not the point of sale

number five art is a preferred store of

value that can easily be moved around

when you're that rich most of your money

is locked up in stocks other businesses

or hard to move assets you don't want to

keep it in cash because at that scale

cash is losing 5 to 10% of its value

year-over-year due to inflation so where

do high net worth individuals turn to

Art yep they buy art in bulk lease it

off to museums around the world or seal

it off in shipping containers and use it

as a bargaining chip it's a lot easier

to move $500 million in art than $500

million in gold or silver most people

don't realize that blue chip art is one

of the most profitable Investments out

there fine art is often referred to as

the billionaire asset for a good reason

number six stocks won't get you to a

billion and neither will luck stocks

work well when you've got a large time

Horizon and a ton of money to start with

back in the 80s and '90s there was this

trend of financial advice where they

said if you simply invested $5 every day

in the stock market starting when you

were 20 years old and kept doing it

until you were 65 you would be a

millionaire and like G yes okay we get

it the math checks out but the market is

also evolving and so are costs these

Financial models tell a fancy tale

that's all surface and we think they do

more harm than good and here's what we

mean by that Warren Buffett paid $31,500

for his house back in 1958 adjusted for

inflation and market value that same

house costs around

$877,000 in today's dollars 60 years

later that house costs 28.3 times more

it's the same house nice and old didn't

grow any new bedrooms take a moment to

process this the house just by doing

nothing has almost matched the

performance of professional investors if

you keep saving the $5 a day by the time

you get to your million doll retirement

a million will barely buy you anything

it's the same with luck you might luck

your way into becoming a millionaire but

going from that million to a billion is

a whole different ball game number seven

every new billionaire turns other

millionaires into

billionaires remember the use other

people's money example well every newly

minted billionaire brings with them

those who believe in their Vision enough

to open up their wallets in the early

days Peter teal was the first outside

investor to back Facebook he invested

$500,000 in exchange for 10.2% of the

company when Facebook IPO he sold 2/3 of

his shares for

$628 million after investing 500,000

friend of the channel Gary tan the

current CEO of Y combinator was the

first investor in coinbase in 2013 that

initial investment of only

$300,000 ended up being worth $2.4

billion go anywhere in Silicon Valley

and these types of stories always pop up

make your money first and then use it to

back promising businesses one of them

might just be the next

Airbnb number eight less than 5% of

their worth is liquid average people

think the rich are hoarding resources

when they say billionaires they picture

Scrooge McDuck jumping into a vault

filled with gold coins but in reality

almost all of them are paper

billionaires meaning shares they own in

companies are worth in excess of $1

billion on P paper the assets are worth

as much usually billionaires keep less

than 5% of their worth liquid and if

they do need money they do not sell

their assets instead they go to Banks

show them the paper that says they're

worth x amount and then use that as

collateral for lowest loans the bank

provides them with a line of credit and

they go off to buy even more income

generating assets when Elon bought

Twitter he didn't actually sell his

shares in Tesla or SpaceX in order to

come up with that money the bank gave

him the funds to buy it here's something

most billionaires know you do not pay

tax on debt so they would rather borrow

that money using their assets as

collateral number nine the real money is

made in a crisis billionaires look at

the world differently than most people

poor people look at life in terms of

days the middle class in terms of months

the upper class in terms of quarters the

rich in terms of years and the super

rich in terms of decades people made fun

of Warren Buffett's Burkshire Hathaway

for underperforming for the past 10

years and critiqued his large cash

position losing its value due to

inflation but Warren and Munger were

just sitting on cash waiting they were

okay with losing 1 to 3% per year

because when this recession hit they

were able to purchase companies at 50 to

75% discounts for billionaires

recessions are like the Black Friday

event of the decade everything you

really want is on sale and that's one of

their secrets it's not the day today you

focus on instead you make two to three

plays per decade which are strategic for

growth number 10 they all had and still

have experts minimizing risk and

increasing returns there's no such thing

as a self-made billionaire at least not

in the way that people think about them

in order for you to have the time and

mental space to focus on exponential

growth you need to know that almost

everything else is taken care of you

find great accounting firms to mitigate

all Financial Risk you find great legal

firms to mitigate all liabilities great

managers and CEOs steadily take the

company to the next level along the way

you have to rely and Trust other

people's expertise to get you to the

next level all of these billionaires

surround themselves with experts who can

point out exactly the inflection points

and how to position yourself for them

these people are called executive

coaches and every big CEO has a couple

of them on council at this level they

cost between a few hundred th000 to a

couple of million dollar per year their

job is to keep the CEO focused and

provide Clarity of thought

very much like a coach trains and

prepares professional athletes for a big

game just think how incredible it would

be to have one of these worldclass super

coaches available to you just how

quickly would your life improve and how

quickly would you crush your goals well

now you can my friend we pay these

coaches on your behalf and you get to

learn from them in the alux app for a

fraction of the cost this way you have

access to not one but multiple industry

experts that are focused on the

Practical side of growth we recently did

a survey amongst star users and over 60%

of respondents say they've already

crushed their main goal after one year

of using the alux app with another 30%

saying that they're closing in fast

everyone who uses the app has found it a

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the alux app will probably create more

millionaires than any Financial book out

there so go to alux.com slapp right now

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slapp number 11 very few billionaires

are direct to Consumer most of the money

is in Enterprise deals you probably

don't realize this but Amazon's direct

consumer isn't actually profitable

instead Amazon's Cloud infrastructure

business AWS is printing cash 35%

year-over-year growth over $80 billion

per year in Revenue almost the entirety

of the internet is now hosted on

Amazon's servers a company is more

comfortable to pay you $100 per employee

that uses your service every month

here's something interesting you might

not know Gmail is free for the average

consumer but for us as a business on a

monthly basis we pay $10 for every

business email we have with Google since

we've got over 20 alux.com emails for

this business alone every year just for

something like email we end up paying

Google thousands of dollars in recurring

revenue and we're just a small-sized

company Google is now bringing in 6.3

billion quarterly from its cloud

services that's a $25 billion per year

business as long as you do business know

that it takes the same amount of effort

to convince a person to buy as it takes

to convince a business it's still one

sale but the difference in income is

substantial most of you could actually

earn 10 to 50 times more than what you

do but you're deploying effort on the

wrong thing number 12 most billionaires

don't start from the bottom yep we're

going there it takes a tremendous amount

of work to achieve any form of financial

success these people have earned their

way up to the top but more often than

not the context was a little bit more

favorable to them than you might think

most of them had Rich parents access to

high level education infrastructure and

a safety net if they failed so they

could risk it all a couple of times

elon's dad was a multi-millionaire real

estate developer who married a model

Jeff bezos's parents gave him

$250,000 to start the company Bill Gates

mother comes from some serious money the

list goes on going from zero to A4

million dollar takes years for most

people not having to worry about where

your next meal comes from is also what

gives you an edge what all of them have

achieved is incredible so the takeaway

here should be if you're in a position

to have access to education you have a

device to watch this video on and access

to Twitter LinkedIn where you can reach

out to almost any professional in the

world please know that you're also not

starting at the bottom the bottom are

the two billion people who don't have a

phone or internet access but if you're

looking for a more controversial Point

well here it is number 13 most industry

tycoons get Wealthy by exploiting slave

labor where you can't see it and the

world doesn't really seem to care

the phone or laptop you're watching this

on the electric cars scooters drones all

electronic appliances like your fridge

Smart TV Etc they all use Cobalt now

here's a recent picture of what's

supposed to be an industrial Cobalt mind

in the Congo the key word here is

industrial because according to official

documents from all the major Tech

players not a single human being is

supposed to be digging in these Cobalt

Minds the average adult gets paid less

than $2 a day of bringing Cobalt up out

of the ground they actually prefer to

use children because they're smaller and

cheaper for this kind of work and none

of this is new information here's a

video of children in a Cobalt mine from

6 years ago as a developed Society we

enjoy the Comforts technology brings us

because we're sheltered from the reality

of what it actually takes to be produced

assembled and shipped to you and this is

not just the tech industry the

international labor organization

estimates that approximately 170 million

children are used for production

although they are not old enough to work

sustainably in the fashion industry the

children are literally working in the

fields picking cotton transferring

pollen for little to no pay that's how

fast fashion and Ultra fast fashion is

able to get you the those products so

cheaply but hey as long as you get it

for cheap right number 14 almost all of

them are sociopathically obsessed with

money and success look here's the truth

you really really need to want it to be

able to get to that kind of wealth as it

will require you to sacrifice almost

everything else in your life you don't

have a family life you don't get to

spend time with the kids you're hyper

comp itive and traveling all the time

you don't sleep well at night for years

and the amount of stress you're dealing

with is nothing others will ever

experience their brain is wired

differently they look at life

differently and see life as building

blocks life will grant you one wish but

you have to figure out what it is and be

absolutely obsessed with one wish

non-stop for decades not sure many

people are really able to do that

number 15 decisionmaking and persuasion

are the only two billionaire tier

skills the job of a senior executive is

to make a small amount of high value

decisions that have major upsides you

are rewarded based on what percent of

times you're right about your decisions

Warren Buffett is regarded by many as

the greatest investor in the world

because of his ability to consistently

make highlevel decisions that generate a

lot of money money for the investors the

higher you climb the higher the stakes

with every decision you make if you're

in the earlier days persuasion

translated as sales and clear

communication is probably the most

valuable skill there is you will need to

get people to trust you enough to join

you and create a product you will need

to persuade customers to give you money

for your product and persuade investors

to back your company even if you do not

know how to build something with the

right level of skill you will be able to

convince someone else to build it for

you in exchange for a piece of that

reward as you progress there's always

someone new you need to convince to do

something that will benefit you and the

company moving forward if there's one

thing you take away from this entire

piece it's this systematically improve

your decisionmaking process and you do

this by taking your mind to the gym

consistently as a result of learning

mental models the second one is learning

to speak clearly and convince others to

follow you on your mission we feel the

word selling doesn't really seem to do

it justice for what exactly you need to

do these two are the only billionaire

tier skills to master which is why the

alux app focuses on them so much you

know billionaires are a different breed

and we're curious to know have you ever

looked behind the curtain of a

billionaire what did you learn axer let

us know in the comments and as a thank

you for watching this Sunday

motivational video until the very end

here's your bonus this is what the

average billionaire investor portfolio

looks like thanks to our friends at

visual capitalist for this visual now

the most interesting thing you'll notice

is just how quickly the retirement fund

becomes irrelevant as you climb in net

worth and how that large position is

replaced by a trust fund

the wealthiest 10% of Americans own a

record 89% of all US Stocks the bottom

90% of Americans barely have any

investable assets at all so here's what

you need to remember you survive by

earning you get rich by owning if you

don't want to end up like 90% of

Americans start buying things that

increase in value over time if this

isn't a wakeup call to start taking this

more seriously alexir we don't know what

is it's going to be a really interesting

year and we feel like a lot of things

might change for you if you're on a

mission to escape mediocrity write the

word Escape in the comments that way we

know how many of you are interested in

taking this seriously