Steven
👤 PersonAppearances Over Time
Podcast Appearances
There's a really interesting stat that says globally around 65% of ultra high net worth individuals are self-made. Approximately 19% primarily inherited their wealth and about 16% inherited wealth, but significantly grew it through their own ventures. So 65% of the ultra high net worth individuals globally are self-made.
There's a really interesting stat that says globally around 65% of ultra high net worth individuals are self-made. Approximately 19% primarily inherited their wealth and about 16% inherited wealth, but significantly grew it through their own ventures. So 65% of the ultra high net worth individuals globally are self-made.
Does that not mean that if I want to become an ultra high net worth person, it's going to come down to...
Does that not mean that if I want to become an ultra high net worth person, it's going to come down to...
Listen, we are just come off the back of the golden age of capitalism when ordinary people like my dad, you know, I grew up in Ilford. It's in East London. It's a very immigrant area. Most of my friends I grew up with come from Pakistani Indian immigrant backgrounds. They came over with nothing. They worked really hard. They made money. They had their own assets.
Listen, we are just come off the back of the golden age of capitalism when ordinary people like my dad, you know, I grew up in Ilford. It's in East London. It's a very immigrant area. Most of my friends I grew up with come from Pakistani Indian immigrant backgrounds. They came over with nothing. They worked really hard. They made money. They had their own assets.
We had a period where ordinary people could make money and could make wealth. So obviously we are now in a period where there are rich people who made money during that period. But it's over now.
We had a period where ordinary people could make money and could make wealth. So obviously we are now in a period where there are rich people who made money during that period. But it's over now.
Okay, so you're telling us they're idiots. Why are they not making money? I'm not telling anyone they're an idiot. I'm saying... If it's that easy, okay, all right, fine. Go and buy Dan's book, read it and become a millionaire because Dan thinks it's easy to become a millionaire by being an entrepreneur.
Okay, so you're telling us they're idiots. Why are they not making money? I'm not telling anyone they're an idiot. I'm saying... If it's that easy, okay, all right, fine. Go and buy Dan's book, read it and become a millionaire because Dan thinks it's easy to become a millionaire by being an entrepreneur.
But I suspect, having not been an entrepreneur, that most of the people who've read your book are not millionaires.
But I suspect, having not been an entrepreneur, that most of the people who've read your book are not millionaires.
If you think you can teach, you've got your book.
If you think you can teach, you've got your book.
I wonder if we do have a bit of an education problem at the heart of this. Because I was thinking about your sister. And I was like, right, if I was the CEO of Gary's sister, what would I do? There's two things I'd do right now. The first is, I go, what marketplace is really valuing an ability to write and write in an impactful way? I go, right, she needs to start an Instagram page.
I wonder if we do have a bit of an education problem at the heart of this. Because I was thinking about your sister. And I was like, right, if I was the CEO of Gary's sister, what would I do? There's two things I'd do right now. The first is, I go, what marketplace is really valuing an ability to write and write in an impactful way? I go, right, she needs to start an Instagram page.
Because I've seen what happened with Jay Shea. This guy's pulling in tens of millions a year because he took like, you know, nice words that were motivational, poetic, put them on there. And I go, also, YouTube, needs to get to YouTube. Because if she can talk like you, then she's going to do exceptionally well on YouTube as well. But the old...
Because I've seen what happened with Jay Shea. This guy's pulling in tens of millions a year because he took like, you know, nice words that were motivational, poetic, put them on there. And I go, also, YouTube, needs to get to YouTube. Because if she can talk like you, then she's going to do exceptionally well on YouTube as well. But the old...
There's not going to be a great economy necessarily for someone who's doing poetry in many of the places other than what I'm saying is the internet. But in school, we don't teach this. There's no YouTube class for YouTube. And it's such a huge part of the economy. I mean, you and me have seen that. There's been this decentralization of media where the megaphone was owned.
There's not going to be a great economy necessarily for someone who's doing poetry in many of the places other than what I'm saying is the internet. But in school, we don't teach this. There's no YouTube class for YouTube. And it's such a huge part of the economy. I mean, you and me have seen that. There's been this decentralization of media where the megaphone was owned.