How to Win in the Digital Century
5 Lessons in 5 Tweets
[ THREAD ]
Let's go 👇
A digital world will magnify differences between people.
Those who work smarter will amass more wealth than ever. Those who don't, will struggle more than ever.
1: Equity Beats Salary
Salaried jobs will be penalized by taxes, erosion of purchasing power, and automation.
But worse is that salaried jobs are a glorified form of trading time for money...
Trading time for money is a bad idea. Time consists of small numbers: 5 days/week. 50 weeks/year.
But to amass wealth, you need BIG numbers working for you. Also known as leverage.
How do you get leverage? Equity in a business.
You get that by...
2: Developing Real Skills
Forget credentials.
Most people graduate from school knowing how to calculate the hypotenuse of a triangle. But they are financially illiterate.
That is an abysmal societal failure.
I spent $150k on law school. But literally everything I do to make money I learned online/books for $150 or less.
Do good work. Good work means good reputation. Good reputation means good opportunities.
Also, you should...
3: Combine Skills Into A Talent Stack
In a global world, being top 1% in any one skill is hard.
But being in the top 20% in multiple skills is achievable.
The alchemy of the resulting "talent stack" will put you in the top 1% in terms of success.
4: Realize You Have No Time
The biggest mistake people make is devaluing their time.
They constantly punt projects, learning, and business opportunities for cheap dopamine—Netflix, social media, texting.
Waiting for "someday" is not an option.
Your time is your #1 asset.
Why? Because the people who do best in a digitized, globalized world are those who channel creative, productive energy into high-scale businesses.
Selling out your time depletes your creative energy, which is your ultimate source of wealth.
5: Understand How Wealth Accrues
Most people think, Wealth = Salary + Investments.
In reality, Wealth = Profit + Asset Value
To learn exactly what that means, read the Millionaire Fastlane.
If you're young, go buy it. It'll change your life.
Conclusion:
What worked in the past doesn't work today.
To succeed today, you should:
1. Get equity in a business
2. Focus on real skills
3. Build a talent stack
4. Realize you have no time
5. Understand how wealth accrues
That's all friends!
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