The Algebra of Wealth (A Simple Formula For Financial Security) - Professor Scott Galloway
The Learning Leader Show With Ryan Hawk -- www.LearningLeader.com
Scott Galloway is a professor at NYU’s Stern School of Business. A serial entrepreneur, he has founded nine firms, including L2, Red Envelope, and Section4. He's the author of many best-selling books, including, The Four, The Algebra of Happiness, and most recently, The Algebra of Wealth.
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I’m Ryan Hawk and I’m a writer, podcaster, advisor, and teacher. My favorite thing to do is have a deep, long-form conversation with a thoughtful person. Fortunately, I get to do that often on my podcast, The Learning Leader Show. I created The Learning Leader Show in 2015 as a way for me to follow my curiosity about leadership and excellence with great rigor. It has since been listened to by millions of people in more than 150 countries.
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When I’m not recording podcasts or writing books, I try to help leaders be more effective. Some of the ways I do that: Hosting Learning Leader Circles (paid mastermind groups), 1:1 advising for executives, and my online school, The Learning Leader Academy. Additionally, I’ve delivered keynote speeches all over the world for thousands of people.
EPISODE TIME STAMPS
0:00 - Intro
0:44 - Fundamentals of understanding the market
3:23 - The importance of male role models
3:55 - Paying your skills forward
6:09 - Millions of boys have no male role models
7:25 - The fear of adding value to another boy’s life
8:42 - What was the philanthropic shift in Scott Galloway’s life?
12:40 - This is the most depressed generation EVER
14:33 - Scott Galloway on being grateful for his wife
16:37 - Gaining clarity from ketamine therapy
23:57 - Have the willingness to ask
28:20 - How to handle rejection
33:16 - Cry more and laugh more
39:16 - Taking humor back on the left
46:16 - The ability to be an effective communicator
54:09 - Figure out what you can do that others won’t
Пікірлер: 145
I grew up with two great parents. My parents were married until death. Yet one of the most influential person in my life was my 10th grade teacher a man that showed empathy, non judgmental and kindness… that experience helped me to find direction. I can’t imagine not having a positive male role models in my life.
@RyanHawk
12 күн бұрын
🙏
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 20k in last month 2024..
@TheodoraGrant-jw7fl
Ай бұрын
Inspiring! Can you please give me some tips on how to invest in a healthy way like you are doing now?
@pinned.bymarktilbury2858
Ай бұрын
It’s advisable you to stop trading by yourself if you keep losing. I didn't trade alone anymore, I always needed help and assistance.
@EmeryMckee-uf9vy
Ай бұрын
Bitcoin has been rising for a while and could rise again. The truth is that no one knows, I think this is the right time to buy and also get a professional assistant
@daniyalahmed322
Ай бұрын
Yes!! That's exactly who she is, Wendy Lee Olson. Many people have said a lot of good things about it and I am just starting out with it from Australia 🇦🇺
@SamAudley-wh3ug
Ай бұрын
The first step to successful investing is to know your goals and your ability to take risks either on your own or with the help of a financial professional, but it is highly recommended that you hire a professional.
The guest is SO RIGHT, When I came from Africa, and I was NOT aware of Single parenthood, I noticed a few young men behaving not as they supposed to, I shouted, your dad is watching and they Laughed ONE CRIED, with a sad face , " We have NEVER seen him, do you know him" it broke me. i though having a father in the home is a normal thing. I really wish Male mentors can help other young guys.
Scott's perspective on risk and its necessity for substantial achievement is compelling. It reminds us that personal growth often requires stepping out of our comfort zones and that mentoring can have profound impacts on young lives. 👨🏫
I love listening to Scott. The whole point of wealth for me is freedom. My magic number in my mind is 5 million needed at 65 to not worry about anything. Am i better off investing a good portion of my income into stocks or saving my earnings to achieve this goal?
@Grace.milburn
Күн бұрын
Varied sources of income is wise and especially living within your means. My net worth is $2M and I can pay my bills with no stress, but I don't live like I have that. I have no complaints.
@ThomasChai05
Күн бұрын
Money advice is subjective, what works for you may not work for someone else, but it's always better to plan. I'm quite lucky exposed to personal finance at an early age, started job 19, bought first home 28, got laid-off work 36 amid covid-outbreak, and at once I consulted an advisor to handle growing my finance. As of today, I'm only 25% short of my $1m goal after subsequent investments.
@mikegarvey17
Күн бұрын
@@ThomasChai05bravo! i'm 46, inherited money from a childless relative and traveled overseas, got married to a lady almost my age, but the only issue is how to preserve and grow my wealth in view of retirement, can your advisor be of help please?
@ThomasChai05
Күн бұрын
Yes indeed.... *Gertrude Margaret Quinto* has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
@mariaguerrero08
Күн бұрын
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
True, I took me 2 years and 5 applications before I got PhD scholarship. There were many failures that made me lose my self confidence. Now I'm learning to build my career bit by bit.
Love this guy. Incredibly kind and insightful.
@RyanHawk
12 күн бұрын
🙏
At 70 Scott, l am well aware of how fast time flies. The problem is, l was 69 when it happened.
@abraham7140
14 күн бұрын
69 hehe
Unfortunetly you cant take risks unless you have some disposable income. Takes money to make money. Unless your exceptional in some way.
@Sheir01
Ай бұрын
That’s what boomers fail to understand. Their generation got paid enough in their 9 to 5 and their buying power was big enough so that they could take risk and start businesses or investments. Younger generations can’t take those risk anymore. Our income after taxes and bills leave us close to nothing. Especially if you live in the city.
@cmmndrblu
Ай бұрын
Thank you for recognising this
@brad9092
28 күн бұрын
You can still live a life of fulfillment and dignity, even without money. Even if you don't like your job, if you're taking care of your family, you can feel good that you are doing your part. A very important part.
@matthewcaldwell8100
22 күн бұрын
@@brad9092 You really seem to think that jobs are still providing people enough to live on these days. They're not. The pride of work has followed wages: down the drain.
@brad9092
22 күн бұрын
@@matthewcaldwell8100 Don't give up. It is possible. I will admit that you need a skill, something valuable to the marketplace. If you don't know anything or can't do anything of value, your wages will remain low. Either way, you can live in dignity if you choose.
Love Scott Galloway. Your video pauses oddly at around the 57 minute mark.
Perhaps a major reason why there aren’t many men teaching is because the pay is so low and student discipline is a big problem.
Hugely impressed and loving the story at 19:00 minute mark. I too have gotten dozens of "Bahne" skateboards over the years. And women can definitely either be rough or vital in men's successes 🤩🙌🏼😎
@RyanHawk
Ай бұрын
🙏
I love what this dude has to say.. humble yet powerful.
love the new intros and previews to the episode!
@RyanHawk
Ай бұрын
Thank you Ryan!
Hi Scott, love your stuff. About envisioning the kind of person you want to be in the life of others, it seems it came for you about the time you became much wealthier. Trouble comes up when you have to decide whether to be good to yourself, or to be a good son or a good husband for example , because those require time and resources which for mostpeople are limited, so you only get to choose who you help and who will suffer.
Ryan I smashed the like button good idea on the disclaimer upfront. Great podcast
@RyanHawk
3 күн бұрын
Love it! Thank you
Thank You! My H. P. Put this in my path. I relate, I'm not able cry
True Education!
That was farking brilliant mate. Thank you very much.
loving it
Great episode!
@RyanHawk
Ай бұрын
Thanks so much!
@tonyjackson8413
Ай бұрын
@@RyanHawk also Ryan. I played football at University of Iowa and we played Miami of Ohio in 2003. Were you on that team? My story is similar to yours, unexpectedly short football career, that led to a decade of sales, and finally entrepreneurship. You just picked up a regular viewer. Keep doing your thing brotha! 👏🏾
@RyanHawk
Ай бұрын
I played on the 2001 team that played at Iowa. Physical game. You guys beat us up
Thank You
Great show! One observation, the sound levels between the two of you were out of balance. At least it was for me. Scott's was too low and yours was too high. Cheers!
Mentors and Grants for internships/study/workplacements would help a lot
@MsJones-mc9gq
29 күн бұрын
?
@matthewcaldwell8100
22 күн бұрын
Not if they don't include actual compensation that isn't a sick joke, they won't.
Video cuts out from 56:37 - 57:02
@dawnfmEnthusiast
Ай бұрын
Thank you!
And, it’s not just an American problem. There’s high youth unemployment in many countries. India, China. There’s something going on. Agree that opportunity is part of that and agree with your fundamental premise. But, social media is doing a lot more. This is our society they’re fking with. And, that is not a game.
we're not friends, but we're friendly 😅
@bracero27
16 күн бұрын
A lot of people don’t understand and give away too much information
And what risks did you take Scott, without your free educations and grants?
My male role modem growing up was William Shatner. So naturally he blocks both my accounts on Twitter, essentially treating me like he treated Wesley.
A former severe stutterer(into my 50's) that learned the power of diaphragmic breathing that enabled me to relax enough to speak publicly. Now I'm a Health & Wellness Coach that facilitates tai chi & substance abuse groups. Humor plays a huge part. " A friend is someone that can help you move. A best friend is someone that will help you move a body." --Dave Attell
Great video but you need to mix the audio better. Scott and you are way off. Your mic was booming compared to his.
scotts mike is so much softer and turned down that I have to adjust my volume when the interviewer talks I have to turn it down his mike is so loud or his voice is so loud... any way to much work to adjust my listening volume... take care
The sound quality is killing me/ Prof G is sounding lower than Mr. Hawk
How much money did he lose paying .1% per trading day to check the stock price?
@kasmstamps1897
7 күн бұрын
Maybe think of it as an investment. Getting a daily update of a market at such a young age was a learning experience. And to be able to get advice from a stockbroker for just the cost of a phone call - bargain. But most bean counters don't get that.
Starting to cry will help me become successful . Yea right.
Uncomfortable risk and enduring rejection as core competencies.
As a conservative you listen to these guys and we have so much in common, how did we end up hat1ng each other
@exnihilo415
25 күн бұрын
Monetization of conflict. Offend to trend will be the death of us.
@jeanlephunk
25 күн бұрын
@@exnihilo415 👍🏽
@matthewcaldwell8100
22 күн бұрын
Because a lot of centrist liberals are fundamentally conservatives and you're too dumb to realize it.
Lol to continue to ask about the wife literally after he said she doesn’t want to be spoken about. Gosh darn self-help bros.
Ryan, why would you assume that ketamine "therapy" would be a reason by someone would speak more of his wife? That is an assumption that should not be made.
@RyanHawk
Ай бұрын
Because that's what he said on his podcast the week before we talked
@mikepoulliott2753
Ай бұрын
Ryan doesn't understand boundaries.
How can I take risks when the Supreme Court is about to rule that I'll be arrested for being homeless.
@theconcealedmistress
Ай бұрын
How can you take risk and abortion is now illegal. Less money for you stuck for life
@nicolem5626
Ай бұрын
Don’t listen when they say to take risk because most people do not have any money making ideas.
@ferdinandmagellan9210
Ай бұрын
Arrested and what? Imprisoned?
@sanityadvisoryboard
Ай бұрын
@@ferdinandmagellan9210 yes!
@matthewcaldwell8100
21 күн бұрын
@@ferdinandmagellan9210 Have you been living under a rock? Yes, arrested and imprisoned.
"Let's start with the crying first!" 😁
@bcbeasters
Ай бұрын
I laughed way too hard hearing that line! 😋
The most over compensated people in an organization relative to their contribution? Sales people. 😂
This guy looks / sounds like Jimmy from love is blind
@RyanHawk
12 күн бұрын
Scott is a bit older than Jimmy
I lost over $70k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Natalie Strayer
@Brucelanham845
21 күн бұрын
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
@Nguyenvictory83
21 күн бұрын
You trade with Natalie Strayer too? Wow that woman has been a blessing to me and my family.
@Rodriguezpaul-9
21 күн бұрын
YES!!! That's exactly her name (Natalie Strayer) so many people have recommended highly about her and am just starting with her from Brisbane Australia🇦🇺
@Charlottehornets4
21 күн бұрын
I'm new at this, please how can I reach her?
@Josephbasta827
21 күн бұрын
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills.
I would enjoy this more if it wasn't such a direct copy of "Diary of a CEO" podcast.
Great chat but nothing to do with wealth ???? That’s poor written communication 😂
@RyanHawk
Ай бұрын
Did you watch the video?
@exnihilo415
25 күн бұрын
@@RyanHawk dude wants a wire transfer. Heh.
Why does he “NEED’ to talk about his wife or children of he doesn’t want to? We need to bring back privacy. This should be the norm. Also regarding the crying thing: sure all men can cry, but young men need to not do this in public. Nobody respects a crying man. Sure there are times (like death to a loved one that are exeptions). This guy needs to check his T-levels.
Wow I am turning this shit off..this dude is just lucky.
I will never trust this man ever again.
Learn to forgive yourself!
Scott seems, like most boomers and Xers, how much riskier normal everyday living has gotten, and precisely because of the things his generational cohort supported. We live in a society where needing medical care or getting an education has a very high chance of ruining your life, where no one can get a job and those that eventually do have to deal with a work environment that severely underpays them, and where there are very few supports if you should fall on hard times. The only people whose "risk-taking" is unaffected by such an environment are the obscenely rich, the undeniably brilliant, and the incredibly lucky. And that's before even touching how the school systems YOU BUILT treat every form of intellectual endeavor like a college audition from the time we are old enough to read. Stop lecturing us about our character and start actually helping us to change the terrible policies that led us here.
@kasmstamps1897
7 күн бұрын
How about saying to your parents "rather than sending me to college/uni buy me 50 TSLA and let me study at the local public or online course and live at home under your rules" That's an uncomfortable risk. Youth is your advantage - use it.
@matthewcaldwell8100
7 күн бұрын
@@kasmstamps1897 Adorable that you believe that jobs don’t gatekeep using college degrees.
CNN plus host 😂, poor Scott
@buckchile614
Ай бұрын
Yeah, he's too honest to work @ Fox; also too smart
@rolexmagazine
Ай бұрын
@@buckchile614 CNN Plus was cancelled two years ago
@FoamandStuff
Ай бұрын
Not poor Scott. CNN still had to pay out his contract and this man is worth over two hundred million dollars through his investments and start up companies he eventually sold. He also makes millions every year from his media company, speaking arrangements, and consulting.
Intro style copied from most annoying channel DOAC
Immediately stopped watching when the interview was interrupted with bullshit.
I enjoyed listening to this Galloway interview. But I feel he violated his wife's wishes by telling us he met her in a Hotel pool when she had hardly anything on. She was 20 years younger then to top it off the name one of their sons after the hotel. Oh how we men love to brag LOL
I think the idea of a male role model is great. I did it somehow subconsciously by employing young guys with little to no chances in the job market and giving them a chance to show what they are capable of. So far it always worked out positively. I have one condition: “you get the job and the opportunity. One day you will be in a leadership position and another young guy will be sitting in front of you hoping for a chance. Remember this moment and give him a chance”. I hope they will stick to it but so far I helped about 25 guys this way, about one per year of my career.
As Millennials and with boomer parents we are going to live longer and keep our job and our homes. Expect us to live to our 80s and leave our homes to our kids or grandkids. Opportunity window doesn't stay open forever and not everyone gets chance. Nature works that way . Its not 1980s or early 2000s . You just need wait your turn genz . GenApha probably will over run you because theyll be getting safe guards you didn't ger. Lady luck loves 🎲 🎲
He’s an atheist telling us what’s morally right.
@andreal2625
Ай бұрын
👍
@Tony-Red
27 күн бұрын
If you need religion in order for you to have a moral compass then you're probably not a good human being.
@CPATuttle
26 күн бұрын
@@Tony-Red who decides whose a good human being, you? You’re probably garbage