Alex Mayyasi

But now you're competing against the very best singers and entertainers in the world.

So it's much harder to make a living as a singer or musician unless you're one of those people who are at the absolute top, in which case there are these huge returns for you.

You can make a lot of money.

Taylor Swift is a billionaire.

I think something you can learn from that is think about, you know, if we're thinking about younger people and you're choosing a career,

what kind of career do you want to have?

If you're someone who wants to be the very, very best at what you do, you're obsessed, you're gonna work hard to be the top of your field, being in an industry with superstar effects, that can be great for you.

You could make really good money and your work will really pay off.

Whereas if you would really prefer to have work-life balance, you probably don't want to be in one of those fields because it's just really hard to make a living and have stability unless you're at the very top.

So maybe you want to be in a field like, say, nursing, where they don't really have the superstar effect.

It's not like if you're a nurse, you're competing with the very best nurse in your field.

We need lots of nurses.

And you can be a good nurse, but not the world's best nurse, and still make a good salary and have career stability.

Yeah, I mean, a very short answer is that a tariff is a tax on trade, right?

So if you're going to bring goods across the border into the country, you know, at the port or across the land crossing, then it will be taxed.

You know, if it's a 15% tariff, you know, take the value of that good.

So it crosses the border and whoever's importing it has to pay an extra 15% as a tax to the federal government.

I think something that we've really seen over the past year

that is a bit confusing or subtle about tariffs that trips people up is that you'll have one side say that tariffs are paid by foreigners.

And others say that that's a tax that's paid by the American people.