Steven

They keep it going for as long as they possibly can. The big wealth usually does not come. It almost never comes from like a great idea that there's surges out of the middle of nowhere. it's usually like a pretty good idea that you can keep going for 40 years or 50 years. That's where the big money comes from.

They keep it going for as long as they possibly can. The big wealth usually does not come. It almost never comes from like a great idea that there's surges out of the middle of nowhere. it's usually like a pretty good idea that you can keep going for 40 years or 50 years. That's where the big money comes from.

I wrote this in the book, 99.9% of Warren Buffett's net worth was accumulated after his 60th birthday. So when Warren Buffett was 60, he was worth $2 billion, an incredible amount of money. He could have sold then, and he sold everything and retired and had an absolutely amazing life. The reason that he has accumulated, if you count the money he's given away, $250 billion-

I wrote this in the book, 99.9% of Warren Buffett's net worth was accumulated after his 60th birthday. So when Warren Buffett was 60, he was worth $2 billion, an incredible amount of money. He could have sold then, and he sold everything and retired and had an absolutely amazing life. The reason that he has accumulated, if you count the money he's given away, $250 billion-

It's because he kept it going. So now he's 93 years old and he's still going. Bill Gates could have sold Microsoft in the 1970s and made $10 million and had a great little life. But he kept it going and kept it going. Yahoo offered Mark Zuckerberg a billion dollars cash. And he was like 19 at the time. And he said, no, I'm going to keep doing this thing.

It's because he kept it going. So now he's 93 years old and he's still going. Bill Gates could have sold Microsoft in the 1970s and made $10 million and had a great little life. But he kept it going and kept it going. Yahoo offered Mark Zuckerberg a billion dollars cash. And he was like 19 at the time. And he said, no, I'm going to keep doing this thing.

That's the common denominator that ordinary people can learn from is like endurance and longevity is usually where the big wealth is made.

That's the common denominator that ordinary people can learn from is like endurance and longevity is usually where the big wealth is made.

Yeah. Larry Ellison, who is the founder of Oracle, did an interview in the 1990s. And they asked him about Bill Gates, who was a friend but also rival back then. And Larry Ellison was like, the secret to Bill Gates, yes, he's very smart, but there's a lot of smart people out there. And he was like, no offense, but there's a lot of people smarter than Bill Gates out there.

Yeah. Larry Ellison, who is the founder of Oracle, did an interview in the 1990s. And they asked him about Bill Gates, who was a friend but also rival back then. And Larry Ellison was like, the secret to Bill Gates, yes, he's very smart, but there's a lot of smart people out there. And he was like, no offense, but there's a lot of people smarter than Bill Gates out there.

but nobody has more endurance than Bill Gates. He will outwork you every single time. You cannot, he'll keep it going for as long as he needs to keep it going to beat you. And that's his skill. It's not intelligence, it's endurance.

but nobody has more endurance than Bill Gates. He will outwork you every single time. You cannot, he'll keep it going for as long as he needs to keep it going to beat you. And that's his skill. It's not intelligence, it's endurance.

I think it's two things. It's one, in any endeavor that's going to pay off, it's going to be difficult. There's going to be more roadblocks and speed bumps and collapses than you want. It's absolutely inevitable. The unofficial model at NVIDIA, the giant chip companies, one of the most valuable companies in the world, is we are always 30 days from going out of business. Now, they're not.

I think it's two things. It's one, in any endeavor that's going to pay off, it's going to be difficult. There's going to be more roadblocks and speed bumps and collapses than you want. It's absolutely inevitable. The unofficial model at NVIDIA, the giant chip companies, one of the most valuable companies in the world, is we are always 30 days from going out of business. Now, they're not.

It's one of the most successful companies in the world. But they understand what is true for every business, which is that business is hard. Like every business is a knife fight. Every company that you own or start is going to be very difficult. And you need the perseverance to get through that. That's one element. The other is compound interest. That's what builds wealth.

It's one of the most successful companies in the world. But they understand what is true for every business, which is that business is hard. Like every business is a knife fight. Every company that you own or start is going to be very difficult. And you need the perseverance to get through that. That's one element. The other is compound interest. That's what builds wealth.

What compound interest is and why it is so powerful, like the people who get rich from it are not the people who earn very high returns. It's people who earn good returns for a long period of time. Like all compound interest is, it's returns to the power of time. And if you remember like eighth grade math, that exponent, like time, that's doing all the heavy lifting in there.

What compound interest is and why it is so powerful, like the people who get rich from it are not the people who earn very high returns. It's people who earn good returns for a long period of time. Like all compound interest is, it's returns to the power of time. And if you remember like eighth grade math, that exponent, like time, that's doing all the heavy lifting in there.

And so in investing, if you can be good, merely good, Or if you can just be average for an above average period of time, you do phenomenal. And this is where, this is like the most misunderstood thing about investing. Most investors are like, how do I earn the highest returns? I want to make the best investments, highest returns. And you can do well doing that.

And so in investing, if you can be good, merely good, Or if you can just be average for an above average period of time, you do phenomenal. And this is where, this is like the most misunderstood thing about investing. Most investors are like, how do I earn the highest returns? I want to make the best investments, highest returns. And you can do well doing that.