The 3 Biggest Business Opportunities For People In Their 20s | Scott Galloway
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- เผยแพร่เมื่อ 28 พ.ค. 2024
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Episode 511: Shaan Puri ( / shaanvp ) and Sam Parr ( / thesamparr ) are talking to Scott Galloway a.k.a Prof G. In this episode Scott opens up about his scarcity mindset despite a $100M net worth and the best way for young people to get rich slowly.
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Show Notes:
(0:00) Intro
(3:00) Surviving rejection
(5:00) Scott Galloway’s net worth
(9:00) How Sam made $20M in 6 months
(12:00) Scott gives Sam financial advice
(16:00) Get Rich Slow Strategy: Seller-financed boomer businesses
(19:00) Get Rich Slow Strategy: Go work for a big company
(20:00) Trillion-dollar carcass: AI for Healthcare
(22:00) Prediction: GLP - 1 will be bigger than GPT-4
(28:00) Second order effects of Ozempic
(31:00) The economics of obesity
(33:00) The drug that changed Scott's life
(35:00) Inverse Galloway Index
(40:00) Is Putin cyber-bullying Scott Galloway?
(44:00) $5M/year to speak
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Links:
• No Mercy / No Malice - www.profgalloway.com/
• Inverse Galloway Index - inversegallowayindex.com/
• Adrift - tinyurl.com/5ajwcy35
• The Prof G Pod - tinyurl.com/5dfdbywx
• Prof G Media - profgmedia.com/
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Check Out Sam's Stuff:
• Hampton - www.joinhampton.com/
• Ideation Bootcamp - www.ideationbootcamp.co/
• Copy That - copythat.com/
Check Out Shaan's Stuff:
• Try Shepherd Out - www.supportshepherd.com/
• Shaan's Personal Assistant System - shaanpuri.com/remoteassistant
• Power Writing Course - maven.com/generalist/writing
• Small Boy Newsletter - smallboy.co/
• Daily Newsletter - www.shaanpuri.com/
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What do you think sets AMS120X apart from other projects? It seems to be dominating discussions lately
Thanks for sharing PEPE and AMS120X. 💯
Can anyone explain AMS120X?
Great video, I've been interested in investing ever since I came across articles of people making up to $150,000 and more in this period, thanks for the video but is it really possible for a retail investor to achieve this in months?
I've purchased numerous stocks in individual firms. Because there are so many stocks that will skyrocket in the long run, it is currently safe to buy in on ETF and ride it out. Due to fud, I sold out early, but then retraced my ways and re-invested $350,000 with a financial advisor who manages my account. I received an 82% return last year and will see where it goes this year.
45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.
please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Thanks for sharing, I just liquidated some of my funds to invest in the stock market, I will need every help I can get.
My net worth is a lot less than theirs and I’m retired since 41 and have zero anxiety about money. That can’t be healthy to have a 9 figure NW and still have money anxiety.
I wish this guy didn’t interrupt Scott so much to try & show that he knows things. Scott is a wealth of information - let him make his point and let him finish before interrupting.
Yeah pearls of wisdom like relating fat acceptance to vaccine hesitancy. What a bag of wind.
I'm in my 50s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?
You’re right! The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
Yes. It is very easy to buy in on trending stocks but the problem is knowing when to sell or hold, which is why a coach is important. I've been in touch with one for about a year now and although I was initially skeptical about it, I will say I've made more progress within a year generating 6figure profit
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Svetlana Sarkisian Chowdhury is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Luck. Luck is the strategy
I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.
yeah investment is the key to sustaining your financial longevity but venturing into any legitimate Investment without a proper guidance of an expert can lead to a great loss too
Hello, I’m 37 and I am not worth much yet , please help me out. Bought my first house last month and I can't seem to make any other smart investment.
Can you recommend a guide for me?
Haven't you heard of Expert Chrissy Barymoer ?He gives excellent guide on the right stock with high dividend
I would highly recommend Professional Chrissy Barymoer his strategies are just great especially for novice in this stock field
"greatness is in the agency of others", a succinct, golden nugget!
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
I agree. I have pulled in more than $735k since 2020 through my advisor. It pays off more in the long run to just pick quality stocks and ride with those stocks.
@@mariaguerrero08 Mind if I ask you recommend this particular professional you use their service? i have quite a lot of marketing problems.
CAMILLE ALICIA GARCIA maintains an online presence. Just make a simple search for her name online.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
First 15 minutes: Rich people (Scott and Sam) crying about not having enough money and Shaan (also rich) trying to understand them - LOL! 😂
Sh!ts wild 😂
Haha we’re awful. Roasting them while their being all vulnerable.
Jokes aside, this is a great podcast. It’s ranked as one of my top two favorite podcasts for a little over a year.
Crying? They explain that a sense of insecurity is a driver for their success and that’s your take. Lol
@@MrLuigiFercotti Yeah, it’s poor people thinking. I know, because it’s the first place my mind went. I just recognize that I have been indoctrinated into negativity, we have to fight against that scarcity mindset.
The issue with Tech in Healthcare is that because medical people don't understand tech and tech people don't understand the medical field, it takes a lot of mutual understanding and consultation to even discover a problem that can be solved with technology let alone AI. Many health-tech startups don't solve large enough problems to truly succeed.
1000s of people understand healthcare
Shaan is the apex predator of clarifying questions. "You know your anxiety (about money) is irrational, so is it just virtue signaling?" 💀
Fr like what's he gonna say? Yes 😂
@@funkymonkey7202 he had him cornered 🤣 🦈
@@ElleDyson Is anxiety a virtue? 😂
Anxiety is self preservation and a virtue. Its self modulating ?
Reigns us in from bad decisions.
I dunno.....who the f am I?
Alive and healthy at 71 so I am haply.
jesus was a virtue signaler too
It's such a sad way to live. Hoarding millions and never having inner peace. The universe is telling you to go and help people, but you're still hiding in the corner like a wounded animal holding onto your power in currency.
Huh?
Endless striving is endless striving.
He talked about donating huge sums of money as he rebuilds a sustainable growth model. If you don’t have money to give, then all you have is your time. If you’re not spending 10% of your week (relative to a capital investment strategy) donating your time to charity, you’re in danger of hypocritical thinking.
It’s part of the driving mechanism to keep worrying about the wealth. Worrying about losing it is “the fire”. It’s the coal that feeds the train boiler. These guys know, no matter how big or fancy the train it only runs as long as you keep stoking the fire, and the “worry” you have, it what fuels the fire.. it’s not about the money, it’s about the drive.
Scott Galloway could probably do well with reading Byron Katie's 4 questions as a self examination of his thoughts
.."Is this real?" " How can I be sure this is real?", "Who would I be without that thought?" And "what is.a different way I could spin this?"... Cornell University did a study (that has since been repeated many times tracking a large group of people's concerns worries and fears over many years and found only 3-5 percent ever came true....which means in all likelihood all the stuff he worries about around money will never manifest:)
People can have a lot of money but if their parents we alive during the Great Depression they will never feel safe! That scarcity mind set never leaves you.
If you weren't american you'd feel a lot safe. My rent is controlled, my healthcare is covered for life. Makes a huge difference.
@@stoneneils Europeans have no growth and the VAT is killing the EU
Warren Buffett underscores the vital importance of understanding compounding and adopting a long-term perspective for financial success, as leveraging the compounding effect and maintaining a extended investment horizon enable individuals to accumulate substantial wealth through patience and strategic planning.
Navigating the complexities of investing can be challenging for newcomers, but by staying informed through analysis of financial news, market trends, and expert perspectives, I aim to offer valuable guidance and help individuals make well-informed investment decisions, emphasizing the importance of seeking advice from financial professionals and conducting thorough research.
Certainly not, as I've closely tracked the performance of my portfolio, witnessing an impressive surge of $433k in just the last two quarters. This experience has illuminated the reasons behind the substantial gains that seasoned traders often achieve in the seemingly unpredictable market. I must emphasize that embracing this path has been one of the most audacious choices I've made in recent times.
*@kristenpierce8661* Kindly share the details for reaching your advisor. With inflation negatively affecting my funds, I'm in search of a more lucrative investment strategy to optimize their performance.
"Camille Alicia Garcia" is my portfolio-coach, I found her on Bloomberg where she was featured, I googled her name on the internet. Fortunately I came across her website and reached out. You can go verify yourself.
I checked Camille up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.
the quote is, "its not how much you make, its how much you keep"
Took me 25 years of stripping to wake up to this point🙈
To many, Scott is "In your face" - Brutally honest. Stoic with a strong sense of conviction. Honest self evaluation. Basically, every element of becoming a man from Rudyard Kipling's IF.
Blessed with the voice & articulation that talks to our soul. Thank you, Scott. 🙏🏼👍💕
Pumped for this!
Awesome interview, they cover a lot but it's never enough, great stuff, and great job!
Prof G’s recent speech at Summit was excellent 🙌
Fantastic show guys. Great stuff.
I'm a pharmacist and dabbling in AI/healthcare is incredibly difficult. But I agree, if you can tap in 0.01% of the space the dividends will pay off immensely
I'm already doing the AI coaching and NFT and merchandise with programs
Excellent Episode! If only it was longer. Would love to have Scott on for a longer episode! 🌟
My major takeaways were that Scott is more bullish on a drug he’s never tried than ai and he thinks that working class people should find private loans to buy a small business and rich educated privileged people should take the “underrated” traditional corporate career path afforded by their luxury educations. Groundbreaking stuff here
That's why Prof G Kicks axx.
Saving this
Great episode!
9:16 @Samparr just opened up the flood gates here.."I'm broken when it comes to money, I have a scarcity mindset"
...this was so powerful because I've always struggled with money...and to be fair, I've never admitted to myself.
I'm broken to when it comes to money, just saying it has already released some tension.
Don't think you understand what you just did Sam, and I can't imagine how hard that was to even say out loud to the world.
..Big respect to'ya 🙏 ❤
Great interview! Scott always has great insights and I love how he articulates his thoughts.
How would that sound on a Tele?
As someone who doesn’t know from month-to-month if I’ll be able to pay my $1250 rent for my tiny carriage house in Atlanta, it makes me nauseous to hear someone like Scott Galloway say that he is anxious about his money and that he wants to make so much more of it. Scott, if you need to make a bunch more money and you’re looking for places to give it away, I could really use freaking help.
He can lead you to water but you need to drink…figure it out
@@carieyoung1111 I bring so much joy and value to this world. You have no idea who you’re talking to.
Great pod!
Fascinating perspective!
Great episode and I'm a big Scott fan. FYI for those youngsters watching suffering from severe acne, know that Accutane has RUINED many lives as well. With a whole host of side effects including suicidal thoughts resulting in the act, and depression. I'm glad my parents and I decided not to put me on it when I was a teen, and I eventually cured my acne naturally!
Cure your gut, the rest will follow. If you have acne then you have problems internally. No sugar, no alcohol, homemade yogurt of various strains, and certain liver supplements all help. Glad you fixed it.
For me or worked wonders, however in hindsight I would have preferred to try keto first and other holistic medical alternatives
@@karlburmeister1552 no dairy, no gluten
My friend worked in a gas station for 5 years instead of going to college. Some of our friends said he had no ambition while they studied to be engineers, architects and medical professionals. His boss and him bought a run-down Philips66, which he bought out from his old boss.
Last year, he made $450k on sales of $3.2 million.
Love the honesty of these guys.
The fact that these multi-millionaires are not completely happy with what they have and their lifestyle is indicative of much deeper problems than just money
not really….its just comparison…if you have $20MM, you have a lot of friends with $100MM so you don’t feel rich
Peoples insecurities provide fuel for any number of occupations and interests. But be successful you still have to enjoy it and want to do it.
@@mineraltI think you just made his point.
@@dont_hit_trees “deep problem” is very different from “common human situation”
there’s only 58 million millionaires out of 8 billion
This was great for a 2hr drive .. Thanks
Sam finally reveals how much he made from the acquisition. Although he's always hinted at 10s of millions
Very Impressive number super interesting to finally know it hahaha
Didn’t the Hubspot stock he took triple in value? I had in my mind his net worth was circa $75m.
@@justins2397he edged us
@@drumbassclassics953Sam said this before. He sold some portion of his stock but kept a lot. He's probably worth like 30-75, call it 50.
Then again, now he has Hampton so even more
Can't believe it took 3 years for a guest to get him to say it haha
Great choice of guest as always!
this was a great one :)
Crossover of the century, lets go! 🔥
Love this!
This is beyond amazing. Success has no shortcuts, there’re ways to attain it.
Most successful people always seek the knowledge and ldeas of finance professionaIs to help them create wealth and claim to attain their success without any help
To create wealth, proficiency is needed. I indulge in special packages with the Ideas of my finance professionaI and so far I’ve attain so much returns (amount is confidentiaI)
I'm delighted to be here. Such a unique idea deserves attention. I'm interested in participating; could you provide more details?
Rebecca Martin Watson is my professionaI, I found her on Bloomberg where she was featured, I looked up her name on the internet. FortunateIy I came across her and reached out to her, you can verify her yourself.
I got her page immediately I researched, I read through it and seems pretty interesting, I just reached out to her
My two favorite pods
Weight loss side effect from Semaglutide is due to delayed stomach emptying. It does not change anything else in brain that affects substance abuse or anxiety. Just a correlation... However, thyroid cancer, pancreatitis and deaths from gastroenteritis are there. Plus it is lifelong therapy in case of weight loss.
Completely agree on the diabetes investments. This is probably one of the bigger opportunities over the next 10 yrs. I’ve got shares in GLUC and keep loading up
I’m a simple guy. I see Galloway. I click
Haha I was going to say the same thing!
I agree
I respect that
If you worship money, you'll never have enough. If you worship beauty, you'll never have enough. same with power. BTW, not an original thought on my part.
I’m finally not anxious about $
Feeling very blessed
Please keep putting the timestamps guys!! 🙏
great episode. unrelated but I had a hubspot ad pop up in the middle of this when I have TH-cam premium...but if I rewound, it wasn't there. I'm just writing this since I assume someone at TH-cam will read it and tell me something I don't know
Would love to see more Prof G on this podcast
It is what we’ve been eating for the last hundred years unsaturated fat from seed oils we quit eating lard butter and tallow, and it’s killing us
It’s all about accomplishment. I have to have it to have self worth no matter the amount of money.
I love that Galloway touched on Ukraine and the bots. It is 100% true. I seen the bots and trolls at work. Ukraine is about freedom nothing more and nothing less. We must support freedom for the world by supporting Ukraine.
Ukraine is the most corrupt country in Europe. All official sources agree. The money the US sends is all bring picketed by oligarchs. The defenses to be built against Russian attacks were not built, and the defense contractors are fake companies. When Russian soldiers showed up, there was nothing there defense wise, and the Russians walked right in. Zelenskyy purchased the home/castle that King Charles raised his sons in! He has like 15 castles now, all over the world. Wake up.
Top 10 pods of all time!
34:00 Accutane changed my life, too. There’s a lot of fear mongering about that drug, but for me it was completely worth it.
45% in taxes is insane no matter how much you have.Giving away half of it isnt fair for anyone.We really should have one fair tax rate for everyone equally and do away with loop holes/grey areas.
Off to church! Be blessed and not stressed
this intro is so epic :D
Many blessings to you💞 ✌🥰
Great talk
The stock market is a way to protect against inflation. Particularly in the midst of a recession, investors must understand where and how to allocate funds to protect against inflation and still make profits.
In my opinion, the impact of the rise or fall of the US dollar on investments is multifaceted, but learning how to grow your money has never been easier than now that you can passively explore and experience a truly diverse market by using an advisor. director portfolio.
One of the BEST MFM Episode’s of ALL TIME!!Yall hardly ever miss.💯💯👍🏽🎉
Re: international cyberbullying, hacking, cancelling, character assassination => yes. Unfortunately, I have some first hand experience, with significant negative exposure to me personally, which is why Scott’s comments caught my attention. I also believe it is real, destructive, and currently being used as a form of soft war, against a still, relatively unsuspecting, west. With AI and bots, there doesn’t need to be a top 10,000 list. They can include anyone with a counter-position opinion (aka - almost anyone in the west), in their cancel/bully/sabotage campaigns. Scott Galloway, thank you for sharing this information. It has given me some hope, though I’m still trying to recover, connect with resources, tell my story, and alert others to these real dangers. (Indy entrepreneur, 11 years living in C*ina, working and building stuff.)
If you're losing your weight, drinking less, biting nails less, there are going still be adverse reactions, side effects and unintended negative consequences of the medication. Upset stomach, nausea, constipation, stomach paralysis, losing muscle, malnutrition, dependency and rising costs are just the beginning.
I think lisa presley died from complications of GLP1. but they covered it up....at least it looks like it
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly😊
The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $508k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choi
that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s your financial advisor or coach, do you mind hooking me up?
I've actually been thinking of reaching a portfolio-adviser, my 401k and stocks been losing everything it's gained since 2019, mind if I looked-up this one coach you use?
Honestly, How can I be part of this project I earnestly hope to build a strong financial future I'm interested to take part, who's the person behind your success?
The most frustrating thing about my first millions is the episodes that don't sound as interesting by the title often end up being some of the best. Almost skipped this one and so glad I didn't.
Just curious, if it were upto you, how would you have rephrased the title?
That is because the UK and Australia have a better grip on the nutrition system as opposed to our FDA
Great interview and great insight into finding small businesses to own/run - my sister was a bookkeeper/office manager and specialized in working for older, about to retire small business owners that were transitioning their businesses onto their kids!
33:11 Sam had me cracking up! 🤣 I’m strongly opposed to Walgreens telling the pharmacy section my personal business! 😩
Thank you for using the intro you use, not the old one...
Such a pleasant surprise. The only two podcasts I pay attention to in one. Great dialogue. Thank you MFM. Keep up the great work.
Sam, you need to try financial hypnotherapy.
Thank you for this episode it is my new spokesperson. This is everything I’ve been talking about for 20 years. Money mentality is different than money mindset.
Money is the number 1 cause of stress so it’s going to affect health. Fix the money problem and you fix the health problem.
For $500 a month you can asynchronistically work with a therapist that specializes in financial therapy to remove the distractions.
I love this episode. It gives me hope to keep talking about this topic until I become the premier financial hypnotherapist.
Thank you!
🎉👏🏽👏🏽👏🏽💪🏽
I fear a financial hypnotherapists will sell ad space in my treatments
Tell me more@@pronoia. I'm not sure I understand what you are saying. What kind of treatments do you do? Why couldn't you partner with a financial hypnotherapist to create a win/win/win for you, the hypnotherapist, and the client? Do you see that possibility?
@@goodrichpeople I imagine going to hypnotherapists and walking out thinking I need a new saatva mattress to get a better night sleep using the promo code imbedded in my mind. Given the chance I'd buy ad space for direct to consumer beef marketing. It would help combat the marketing of unhealthy convenience food.
He has become a superstar for the right reasons
People who have $10M+ and are worried about money have a serious psychological problem
Semaglutide as a peptide is SIGNIFICANTLY less expensive. This is where our focus should be.
You are hard to peg and have beautiful language. The joys of Sam Parr compliments.
I'm a simple man.
I like that, beautiful language. I’ll keep paying attention as to why some people attract me more than others. I’m hunting down wisdom, but beautiful language is interesting.
HMMM... IS THERE similar discussion for me and others in their 70's? I would hate to waste my next 20 years before the thud. Great content. I am also sending this to a younger bud who can use it. All the best neal sw fla
22:58 Healthcare expensive not because what it actually costs, but because the unholy alliance of providers+insurers+government
I prefer a drug called self-control. It's dead cheap.
Terrible events can cause loss of wealth, but a long holding period usually allows for recovery of losses. The key thing to avoid, whether you have wealth or not, is DEBT. You can only be forced to sell assets if you need income or need to pay back debt. Too much leverage can definitely wipe out all of your wealth. If you stay diversified and have very little to no debt, it is very difficult to lose all of your wealth long term. Your wealth most likely grow at a healthy, moderate rate that outpaces inflation. Also, don’t get divorced!
Wow, one of the best podcast, I've heard in a long time.
Embedded ads, REALLY? Do you not know why people PAY MONEY to TH-cam Premium? The only reason is not to have ads. This has got to go, now.
I like what says. The US tolerates failure because it's through failure that success is reached and many times in areas other than the one intended.
Addiction is proven to get better results from money just as much as medication and so much better than abstinence and treatment for months when you're not able to do treatment because you have no motivation or money to live and build community support or waste time and money looking for help or side hustle. We are doing it. Sobercoin and AI coaching and contingency management therapy and less inpatient relapse costs
yup, it's irrational to feel that way. 20m-100m is already less than 1% of the population.
Ozempic is a timebomb
Yup!
For bad health or returned weight gain?
Side effects and mental health @@johnpe5533
Dangerous side effects.
Been on it for 10 months and took a 4 month break after the 7th month. I didn’t gain the weight back. But I did have to work hard at not picking up the carbs again. Went back on it and have not had any side effects. It works for some and not for others. Just like any other drug.
Great pod! In addition to all the issues being biological, psychological , consider that they may be spiritual. Human nature is not just driven by instinct, but by disordered desirers.
Amen
Great guy
We were not obese as a society before 1900 until we started using seed oils in our diets
A comment on the affordability of the GLP-1s I'm a pharmacist in San Diego and A LOT of people are getting them for free if they have medi-cal (those who live fall below the "poverty"limit) so it looks like this stuff is going out to the rich and the poor, concerns with long term SE (affecting the thyroid and pancreas as someone mentioned) are important though and let's pray it doesn't turn out like the opioid crisis in 10 years, albeit GLP-1s have waaaay more advantages than opioids. P.S. next time get your vaccine at Rite Aid Sam 😉less of a wait time, great show can't keep up with them!
If Sam Parr has more than 10% of your investable assets in HUBS or ABNB then selling down is the the CFP advice for diversification and risk management. But you know the industry and can have special insights, which allows flexibility to the rule.
What are the 3? Someone just name them. 🙏
The only problem with this episode is that it was too short 😂😂
Yeah i dont get the hard cut off
My pop was taking Medforman. It i
was bad for his kidneys long term so he went back to insulin.
Wrt finding a small-mid business, that's what all the to b-schools are doing. It's called a search fund, traditionally investor backed but self-funded is becoming common also. So the people Prof G says should look to this will be disadvantaged.
"Do this but you'll lose money" is the reason why folks are falling off the "money influencer" wagon.