this video is made possible by
expressvpn
according to the federal reserve the top
10 percent in the us
own almost 70 percent of the nation's
wealth
let that number stick in your head the
top 10 percent
literally control almost the entire
country but that number gets even
scarier when you look at how much wealth
is controlled by the top 1 32 percent of
the country's wealth
is owned by the top one percent which is
almost
16 times more than the bottom 50 percent
who owns only 2 percent of it wealth
inequality seems bad and ideally
wealth should be distributed equally
however
we do not live in a utopia and people
are different
so wealth equality is something
impossible to achieve
you can't reward two people equally when
one of them works hard
while the other not but it's not enough
to work hard
in the world of capitalism what matters
more is
understanding the game of money and even
if you do not work
as hard as other people you can end up
being in the top 10
that owns 70 percent of the wealth if
you play the game correctly
here is the beautiful part wealth is not
something that forever stays in your
pocket
it constantly moves if you want to keep
it in your pocket
then you have to keep working for it
otherwise
someone else will snap it right under
your nose
even if you become a trillionaire god
forbid
90 of that wealth will disappear and
vanish by the third generation
take the richest man in american history
john rockefeller
he had an estimated net worth of 400
billion dollars adjusted to inflation
but the rockefeller family today has a
net worth of around
11 billion dollars and the next
generation of rockefellers
will probably won't even be billionaires
who could have thought that
400 billion dollars will turn to just
11 billion dollars less than 100 years
later
with every new technology or change
comes
a new wave of innovation that transforms
a certain
industry or the entire world and
transfers wealth from one group
to another as it was with the internet
for example
whoever wrote that wave ended up making
a fortune
amazon made shopping online so easy that
for the past
five years or so malls have been closing
down
one by one and you do not have to be the
first to take advantage out of that
wealth transfer
you can enter the game much later but
present a better product
skype was once a dominant video calling
app
10 years ago no one could have imagined
competing with skype
but today barely anyone uses skype a
company like
zoom came up with identical products but
with better features
and took the entire industry by storm
skype
isn't a unique case yahoo myspace
kodak and the lease goes on and on
in the past banks were the backbone of
financial services
but internet companies made financial
transactions
so easy that new companies such as
paypal stripe
robinhood grabbed a big chunk of that
industry
and a lot of that wealth was transformed
to a different group of people
and that's not the end of this industry
people are disrupting this industry
again
by decentralizing the entire financial
market
through blockchain and cryptos and in
the next 10 years
people who are billionaires today might
barely make ends meet
and startups who are working on the next
big thing in this industry
will prevail but the question is how do
you take advantage out of this wealth
transfer
how do you know which technologies are
going to be relevant
five or ten years from now the good news
is that
there isn't going to be one or two
technologies
the world is constantly developing there
are going to be
multiple technologies and that's why you
need to learn
how to learn back in school you're not
taught how to self-educate yourself
the entire point of the educational
system is to push you to memorize a
bunch of facts
for a brief moment to pass a certain
test the moment you leave your
examination hole
you'll forget absolutely everything but
the famine technique
is the absolute opposite it's a simple
and yet effective way to master
anything before you invest in a certain
company or start a business
the famine technique will help you to
make a better decision
there are three steps to the payment
learning technique
number one pretend to teach a concept
you want to learn
to a sixth grade student let's say you
want to invest in tesla
check out a blank sheet of paper at the
top write the subject you want to
explain
remember you're not explaining to your
smart adult friend who is also investing
in tesla
but rather a child who just have enough
vocabulary
and attention span to understand basic
concepts
that will force you to use the most
basic words possible
because one of the ways we mask our lack
of understanding is by using complicated
vocabulary
if you can't define the words and terms
you're using
you don't really know what you're
talking about back in college i had a
friend who barely attended any classes
and before every exam i would make sure
i explained to him the entire subject
in an hour or so and if i find something
difficult to explain
i would go back and study it again
because that's where my flows are
and that's the second step in feyman's
technique
identify gaps in your explanation if you
can't explain clearly using exact
numbers and simple
terms how tesla's autonomous technology
for example
will take tesla from 500 billion dollar
company
to a trillion dollar company or how
exactly bitcoin would rise
from thirty thousand dollars to a
hundred thousand dollars
or a million dollars then you're not
investing
you're gambling the problem with most
people is that
they don't go deep into the subjects but
rather skim through the basics
bitcoin is all over the news so let's
invest in bitcoin
why would it rise to a million dollars
because there is a limited number of
bitcoin
oh really that's your reason to invest
in bitcoin
i can create a cryptocurrency with a
limited number of currencies
is it also going to worth a million
dollars
well maybe there is a little bit more to
it than basic demand and supply
i'm not saying bitcoin should worth more
or less the point is
if you can't explain it in simple words
then you're speculating
so go back and read more about the
subject study the parts that you don't
fully understand
and then move to the third step organize
and simplify now that you have mastered
the subject and can explain it to anyone
try to simplify your explanation in such
a way that it would also sound
interesting turn it into a little short
story maybe like an
elevator speech in fact that's what i
did when i was working on my investing
course
i've been in the stock market for many
years but when creating this course
i made sure that it's simple
straightforward and can be understood by
sixth grade kid it doesn't matter if
you're a professional investor
or have never purchased a stock this
course will give you
a deeper understanding of the market the
link will be in the description
now the question is why should you
follow the famous technique to become
financially independent
blockchain for example is now where the
internet was in 2002
and 2003. it had its astronomical rise
back in 2017
and crushed but we'll find out the true
benefits of this technology
in 10 or 15 years but theoretically
it doesn't only has the potential to
change the financial industry
but pretty much every other industry
back in the 2000s most people couldn't
have imagined what
internet would be in 20 years and yet
here we are
our lives depend on internet we can't go
into the details of how blockchain works
but it's easy to imagine how the world
of business will be running on smart
contracts for example
but to understand how blockchain could
change every aspect
of our lives you have to understand this
subject so
deeply that you can explain it to a
little child
how his life will depend on blockchain
in 10 years
that's when you will have a million
dollar idea for a startup that could
earn you
more money than you could possibly spend
if you could go back in time to the
2000s
what business would you start most
certainly an internet company
because the last 20 years were the
golden era of the internet
and blockchain is about to have its own
golden period
but be careful because there are a lot
of scammers in this industry
especially in the comments section
please ignore them all
and don't tell me that i did not warn
you but blockchain is just one out of
many examples
you can apply the same strategy to other
technologies
and you will find out how they are going
to shape the world in the coming future
and you will be able to take advantage
out of them
but what you can certainly take
advantage of right now is expressvpn
internet is big but whenever you use
internet
the only places you visit are google
wikipedia and social media websites
like youtube but internet is much bigger
than that
over ninety percent of it is hidden and
one of the ways to access much more of
the internet
is to use a virtual private network and
that's why you need
expressvpn it makes you much more
anonymous when browsing the internet
you can access the swedish netflix for
example while you're in florida
and what shows that are popular there
like lupine that i personally lately
have been watching
and at the same time it protects you
from hackers who try to steal your
private information
anytime you are on an uncrypted
connection it even protects you from
corporations who constantly surveil you
and collect your data for their own
agendas expressvpn
puts a stop to that by encrypting your
data and hiding your location
it's easy to use with servers in 94
countries
with best-in-class encryption you can
browse the internet without restrictions
find out how you can get 3 months of
expressvpn
for free by visiting expressvpn.com
proactive thinker or by clicking the
link in the description below
go to expressvpn.com proactive
thinker