Full transcript
0:00Rich kids just kind of learn that you
0:01should avoid low leverage opportunities.
0:05You know, like their parents growing up,
0:07they would either say this to them or
0:08they would just observe it in their
0:10parents. Their parents would pay someone
0:12else to do something that they could do
0:14themselves and seemed kind of expensive,
0:16but the parents are like, "No, it's
0:17worth it for me because I can make more
0:19money elsewhere."
0:21And then the kids internalize that
0:23attitude. And then when they graduate
0:24college, even though they don't really
0:26have any experience and they're probably
0:28not worth that much in the job
0:29marketplace, they're not interested in
0:31going for middle market opportunities.
0:34They either want to go into finance,
0:36medicine, law, consulting, somewhere
0:38where they're going to get paid really
0:40good money for their time. Or they want
0:42to go into something where they're going
0:43to make basically no money or
0:46money, but they're going to have high
0:47leverage, high agency. They can do it
0:49completely their own way or do something
0:51that they love. But they really avoid
0:53the middle. The middle is where you
0:55don't really get enough money for your
0:57time. You go into a job where you you
0:59start at 55,000 and over the course of 7
1:03years of grinding your ass and playing
1:05corporate politics, you end up making
1:06like 115k.
1:08I'm not saying that's bad money, but
1:10they look at that and they just go,
1:12"It's not worth it. If I'm going to do
1:13that, I'll just go start my own business
1:15and be poor for the next 5 years." Now,
1:17I understand I'm kind of overlooking the
1:18fact that they can have this all or
1:20nothing, swing for the fences mentality
1:23because they have the safety net of
1:25their parents. I also know that
1:27sometimes connections play a role in
1:28them getting these good jobs, but I
1:30actually think a lot of people have this
1:32experience if they move from middle
1:34class to upper class. They look back on
1:36all the jobs or all the things that they
1:38did for money and they're like, "Yeah,
1:40that was a good learning experience,
1:42yada yada, but what a waste of time.
1:44They were paying me $30 an hour for a
1:47year of my life." That's what I'm saying
1:49when they avoid low leverage
1:51opportunities. Give me money or give me
1:53freedom. Don't give me a little bit of
1:55money with very little freedom. That's