Valuetainment - August 10, 2021


How to Become A Millionaire In Half The Time


Episode Stats

Length

4 minutes

Words per Minute

207.70723

Word Count

857

Sentence Count

34


Summary


Transcript

00:00:00.720 So a recent article that ticked off a lot of people, it's about the CEO of JPMorgan
00:00:04.680 Chase's Asset and Wealth Management division, it's Mary Callahan Erdoas who says, you know,
00:00:10.000 new people that come to JPMorgan Chase, rather than working the traditional 9 to 5, 40 hours
00:00:15.240 a week, and we know it takes 10,000 hours for you to master a trade, we believe you
00:00:21.360 ought to work six days, 12 hour days, because instead of mastering your trade in five years,
00:00:28.820 which is 10,000 hours, 2,000 hours per year, you'll be able to do it in half to 10, which
00:00:32.440 is two and a half years, and a lot of people got upset, that's not healthy, why are you
00:00:36.540 making the new graduates work that way, it's not good, you shouldn't do that, and she says
00:00:40.680 no, this is kind of what it takes, if you want to condense, keyword, time frames, to learn
00:00:46.700 what somebody learns in five years, in two and a half years, some people use the word, you
00:00:51.020 know, chunking for this, there's a lot of different words that you can use for it, but the point
00:00:55.100 is, is this a good model, I give you my opinion, for those who are extremely competitive, in
00:01:02.340 a very competitive marketplace, the journalists who want to get off at three o'clock and go
00:01:08.300 have their drinks and watch three Netflix episodes at night, who think that's the way
00:01:11.660 of living, want the folks at JPMorgan Chase to not work that hard, right, you shouldn't
00:01:16.580 work that hard, it's not healthy for you, it's going to mess with you, this whole thing
00:01:21.960 about hard work is not good for you, says who, says the person that wants to play it
00:01:26.880 safe, is that who the person is, because if that's what you want to say, and I got another
00:01:30.720 person here that's willing to bust their tilt, to have their dreams become a reality, let
00:01:34.700 that person do what they're doing, now let me talk to you about some of the price you're
00:01:38.440 going to have to pay, they interviewed Devin Booker, who was in the finals this last year,
00:01:41.640 and they say, so Devin, what was it like as a kid, did you go to parties, did you do this,
00:01:47.000 did you do that, Devin's like, I don't even remember ever partying when I was growing up,
00:01:51.200 he says, here's why, he says, I had practice in the morning before school started, I went
00:01:55.280 to school, right after school I had double practice, and then I had another league I was
00:01:59.620 a part of, by the time I came home and I did my homework, I had no energy to do nothing,
00:02:03.680 I slept, he says, I was chasing a dream, a vision to be in the NBA in one day.
00:02:08.380 By the way, this story isn't just that story, they interviewed Bill Gates, Bill Gates says
00:02:12.240 he's 20 years, I never took a vacation, they interviewed Mark Zuckerberg from the movie
00:02:15.840 Social Network, he says, did you watch the Social Network?
00:02:18.680 He says, I did watch the Social Network, what did you think about the movie, how accurate
00:02:22.440 was it?
00:02:23.440 You know what his comment was?
00:02:24.440 He says, we certainly showed a lot more partying than we did, we didn't party that hard, it
00:02:30.240 was hard work.
00:02:32.160 How's he doing today?
00:02:33.760 Maybe the most hated guy in America, but the guy's worth a hundred and some billion dollars,
00:02:37.900 you're going to be pretty hated when you're worth a hundred billion dollars, no matter what
00:02:41.340 you do, how you make your money.
00:02:42.340 I don't know a single person that's worth that kind of money, that's loved by everybody.
00:02:45.680 The moral of the story is this, a formula I followed years ago is proven for me.
00:02:53.060 You may not like it if you're a journalist working for New York Times, this may upset you,
00:02:57.280 but it works for those who want to accelerate their speed of learning, mastery, and competing
00:03:04.220 with the big boys in the industry.
00:03:06.300 It's essentially the great equalizer of going up against people that have a lot more experience
00:03:11.240 than you do.
00:03:12.240 You ready?
00:03:13.240 You may miss it.
00:03:14.240 It's simple.
00:03:15.240 Number one, outwork, outimprove, outstrategize, and outlast.
00:03:21.300 If you can outwork, outimprove, outstrategize, outlast, it's going to be very, very hard to
00:03:27.660 compete against you.
00:03:29.440 So I did a video, I think two years ago, titled, How to Go Up Against the Goliath of Your Industry.
00:03:36.340 If you've never seen this before, you've got to watch it.
00:03:40.360 And there's a secret about point number 14, when you watch it, you'll know what it is.
00:03:44.100 But if you've not watched it, click over here, one of these two guys.
00:03:46.800 Go watch the episodes, How to Face the Goliath of Your Industry.
00:03:50.460 And if you enjoyed this episode, smash thumbs up and subscribe to the channel.
00:03:53.940 Take care everybody.
00:03:54.400 Bye bye.
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00:04:04.280 Bye bye.
00:04:05.280 Bye bye.