Modern Wisdom #183 - William Leith - Why Some People Become Ridiculously Rich
Jun 13, 2020
William Leith, a journalist and author of "The Trick," delves into intriguing aspects of wealth and its implications. He discusses how some attain riches while others struggle, dissecting the emotional complexities tied to money. A compelling interview reveals the loneliness faced by a Russian billionaire, while insights from Jordan Belfort and Nassim Taleb provide a glimpse into the world of finance. Ultimately, the conversation emphasizes that true happiness often lies beyond material wealth, focusing on the significance of relationships and purpose.
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Jordan Belfort's Story
- William Leith interviewed Jordan Belfort about his money-making strategies and motivations.
- Belfort explained his rise and fall on Wall Street, highlighting his drive for wealth and eventual downfall.
Non-Linear Wealth
- Wealth accumulation is not linear; it requires many steps before rapid growth occurs.
- Similar to learning a language, consistent effort leads to a sudden 'click' where everything falls into place.
The Slight Edge
- To succeed, commit to continuous learning and improvement, like mastering a skill or language.
- Anticipate a future version of yourself who benefits from consistent effort, even during periods of stagnation.
