Scott Galloway: Do This In Your 20s To Make Millions In Your 30s
About This Episode
Scott Galloway joins the podcast to discuss the principles of wealth creation outlined in his new book, The Algebra of Wealth. He shares personal stories from his career in activist investing and entrepreneurship, emphasizing the importance of choosing a career based on talent rather than passion.
Episode Description
Show Notes
- 0:00Don't follow your passion
- 3:08Reverse engineering $160M exit
- 7:30How to keep top talent in your company
- 11:12"I'm not your friend"
- 13:41Scott's best and worst hedge fund deals
- 16:20Losing $10M every day
- 18:14Handle triumph and disasters the same way
- 20:54If you can't fix it, you have to stand it
- 24:28Lessons about happiness from the dying
- 25:51Statute of limitations on suffering
- 28:57Where Scott steals his powerful phrases
- 33:09Shaan opens his notes app of funny phrases
- 34:52Scott's anti-excited list
- 37:33“Go live in a city”
- 39:50Opportunity in America v Europe
- 42:30The fallacy of hard work over time
- 46:56Money does buy happiness
- 52:20The Algebra of Wealth
- 55:33If you have a side hustle you need a better main hustle
Links
Check Out Shaan's Stuff
Check Out Sam's Stuff
Key Takeaways
Follow your talent instead of your passion to find a boring business with high ROI, then use the resulting financial security to pursue hobbies on the weekends.
Apply the wealth formula: Focus + Stoicism times Time times Diversification, which prioritizes early savings and compound interest over speculative high-risk bets.
Improve employee retention in small businesses by fostering genuine friendships, such as allowing groups of employees to use a company card for social outings without prior approval.