How to Achieve Economic Security | Scott Galloway's Ultimate Guide to Financial Well-Being

[@jmac1813]

Phenomenal interview. Should be taught in schools and spoken of every high school graduation. Thank you

[@jutman17761]

There is a reason it won’t be…

[@TheJamesAltucherShow]

Maybe one day...

[@ismaelhall3990]

Mr. Galloway is a true teacher.

[@ELDTAdventures-tp9jy]

who gave $100k to AOC . . .

[@RadicalNuance]

James you’re a great business podcast host, IMO cause you’ve got a wide range of real world entrepreneurial experiences + you’re a writer + a chess player meaning you’re able to mix various intellectual bottles which make for a fine conversational cocktail! 👍

[@TheJamesAltucherShow]

Thank you! Glad you enjoyed the show!

[@DelroyGill]

This is one of THE BEST pods I’ve heard EVER!

[@TheJamesAltucherShow]

Thank you so much!

[@Matanumi]

You know James I've heard of Scott on your pod many times before. I think this is the first one where you have more of a KZbin presence. And look at how many more comments this episode has versus an average one. Scott's message and speaking is clearly moving a lot of people men and women alike. Interesting

[@TheJamesAltucherShow]

Thank you!

[@rishiocity]

Wow! This was such an insightful conversation. Thank YOU James/Scott! 🙌🏻

[@TheJamesAltucherShow]

Thank you so much!

[@joycevond]

Hey! I really enjoyed this interview great insights! One thing you mentioned stood out to me, where you said, "You have to become the aesthetic of the company." As a Gen Z, I get that we're often expected to "play the game" in terms of aligning with company culture. But does that mean my whole identity has to revolve around the company? I'm in my 20s, with two degrees and 5-6 years of experience, yet I'm still underpaid and can't afford a decent apartment. I’m not trying to sound negative or not say i am not willing to 'grind' , but it makes me wonder: in my free time, do I really need to embody the company’s aesthetic too? (For context, I work in marketing.) Is it possible to have boundaries between work and personal life? And if that level of commitment is truly expected, shouldn’t they at least pay a livable wage? Just some food for thought!

[@alastairtheduke]

the company doesn't really care what you do outside of work, do this while you're working or interacting with people at work

[@joycevond]

@@alastairtheduke i understand but if youre working within any industry lets say media, technology, marketing for brands - it does matter what you say and do outside of work aka your personal platforms what you publish, how you look e.g.

[@icinghappens]

I love that the algorithm fed me this. Great pod 🧡

[@TheJamesAltucherShow]

Thank you!

[@EcomCarl]

Scott's insights on 'The Algebra of Wealth' emphasize the profound impact of building networks with high-quality individuals. It's a powerful reminder that our connections can significantly enhance our 'luck' surface area and open up new pathways to success.

[@TheJamesAltucherShow]

Thank you so much!

[@mikefatah]

This is extremely useful conversation. Thank you Scott Galloway and Mr. Altucher!

[@TheJamesAltucherShow]

Our pleasure!

[@davew4930]

No pretention just honest dialog.

[@Dudefromnh]

Egads... I hung out with the kind of impressive people that Galloway deescribes. Always hustling, always scheming, never satisfied with life, and the simple pleasure of life that 6 every day. I'd prefer the company of simple life folks enjoying noodle salad.

[@nitetrainjames]

Excellent heart felt interview.

[@BodyByBenSLC]

21:00 my parents kicked me out. Let me sleep in my car for a season. I got a job and started making better choices.

[@xNobleSavagex]

I think Galloway is a unique teacher. His advice is interesting and different. But he ain't talking to guys like me. Despite coming from a single mother household (like me), he described his 20s in very...VERY waspish terms. He had a super smart mom and had tons of mentors and upwardly mobile people around him. My parents had nothing to teach. I was marginally employed, no mentors, and mostly homeless for 20 years until I got my shit together. Saving and investing money, although smart, would have been a complete fantasy for me. Upper-middle class kids, listen to this guy and take notes. For you knockaround guys like me, find someone dumber to motivate you.

[@frediv8]

You are spot on.

[@TTGTanner]

You have to seek mentorship. Read “Mastery” by Robert Greene. Excuses are for the weak. But not everyone can be strong ✌️

[@nickypatel8812]

An analysis of Canada would be welcomed.

[@jamesleung0]

27:36 When you grow up with very little money, you tend to hyper-focus on economic security. Kids, who never struggled with the looming threat of poverty, will probably never develop the deep desire to over achieve or take risks for upward mobility.

[@MTtroutfisher406]

22:36 Scott’s advice is for people who are already mostly successful. He struggles to address the every man type person. He’ll admit he was lucky with his trajectory and doesn’t know how to repeat it or how it actually happened. Great discussion though.

[@KiKi-te9yd]

Wish Id been able to listen to. This guy in my 20s. I've made similar mistakes.

[@adamcalhoun6683]

Some jobs the top 10% make exactly the same as the bottom 90%. Union meat cutters make the same, unless you move to a different state. You’ll have to own your own business to make more than what the union rate is.

[@yvonnehyatt8353]

Please study-Pieter Levels.0.1 thanks

[@benwintermute2804]

What is the iron melting business? That sounds fun!

[@duje618]

6 or 8 percent yearly interest on deposits or dividend funds, how much after tax?

[@bhilbert11]

He said he emailed the alumni of Tao? What is that?

[@caustinolino3687]

23:30 "in an industry that will pay well" - this is survivorship bias. You can't tell in advance which industries pay well. Any industry that everyone knows pays well will attract so many people that it either no longer pays well or it has a super high failure rate.

[@remixisthis]

Ehhh a lot of the industries still pay well, just become more competitive. Medical and some other industries have soft or hard quotas to keep pay high

[@janiecel]

Kids change everything. You think you know until you're holding a soul who is completely dependent upon you.

[@TheJamesAltucherShow]

Yes, kids are wonderful too.

[@rafalrocks]

Huge opportunities in trades jobs? Spoken like a filthy rich New Yorker. I live in a working class burb of Chicago. Most of the guys I know are in trades. Tough way to bread on the table. Yeah, maybe 1 in 10 has his own business and makes a decent living but nothing like what Scott made a killing at. Give me a break

[@Matanumi]

Yeah.... totally depends on the city and the trade. Union or not etc. As someone who works on the industry I see it all- broke TFWs doing labour (or women even) and the richest bosses flaunting their formen lunches. Its all over the place on who makes money and who doesn't

[@kambasuvereroberson-vc7yf]

Scott the man!🎉

[@kambasuvereroberson-vc7yf]

Scott the man!🎉

[@kaligirl1980]

In the SF Bay Area, HVAC professionals and electricians can make six figures after they get the commercial experience. I guess it really comes down to where folks in trades live and work.

[@rafalrocks]

@@kaligirl1980 sure ofc. This is realistic. Also, you’re not breaking the bank making that in SF

[@JesseBerst]

Good interview and thoughtful questions. However, I stopped about halfway through because I was so tired of looking at the top of your head. I suggest you imitate Scott and look straight into the camera.

[@EricBoston1992]

I usually just listen while doing dishes/chores, driving, DoorDashing, working, etc. Because there’s not much visual value to discussions/interviews like this that I listen-to/watch: usually on topics like personal dev, economics, investing, crypto, history, politics, philosophy, etc. - I can either sit on my butt & stare at a guys face & shoulders, or just listen while I’m doing other productive things.

[@devp895]

lol 😂

[@Merritt2323]

Don’t watch just listen then dummy

[@natalywithaY]

You sound like a kid who doesn’t want to study. Lame excuses. Nobody forced you to look. The messages are in the convo anyway. Why should he look “into the camera” (which Scott didn’t do either) to please someone like you who chooses to leave a comment like that? ❤ I believe you need a hug so hug yourself from me please ❤ Stay healthy

[@edwardtener38]

You could have been a little more polite. Yes it is constructive.

[@lindseym6534]

Tulsa was a bad example. Tulsa is on 🔥

[@MeJonTheDon]

Family from New York, all left as soon as they could. Absolutely would never consider living in NYC ever.. Agree that NY might have greater opportunities, but perhaps counterintuitively, thus goes to show those outside of that place that have less opportunities and are successful are probably better at translating opportunity into actual success. Not trying to compete to live in an area subsidized by the kids of Chinese billionaires

[@SenorJuan2023]

First!

[@str1cklybizn3ss67]

3 subway stops into brooklyn is still high priced yo.. get with the times XD

[@thecloudtechguy]

As a white guy I think these folks are a bit delusional. I do really well but the reality is not everything people do fro work is rewarding. If you want to make money by "financial gimmicks" then I agree NY is your place. On the other hand if you do real work like the trades, teaching, Info Tech, legal, medical at the worker level you will never be rewarded significanly nor will be wealthy most of the time. I did a long tech stint at Bloomberg. I always laugh about the "5 people you know..." theory, its always spoken by people that make their money running financial gimmicks, You know stock, hedge funds, real estate, tech start ups founders, etc.Love to what the top 10% of HVAC professionals, Teachers, Firefighters make in NYC.... Sure that will get you far. Lastly, they want everyone to believe that life is a zero sum game, its not...for most of the world.

[@DrLusEnglish]

You cannot achieve your personal financial success while your country achieves financial default

[@HM-mw7cg]

“For the majority of our time on this planet our species has not lived past 35” - see this is what annoys me about Scott sometimes. Great insights generally but he is the embodiment of a western hardcore capitalist when it comes to the breadth of his knowledge. Life before America and market capitalism was not all medieval plague ridden societies, Scott. Humans were able to live healthy, relatively peaceful lives all over the place, from hunter gatherer societies to agricultural ones, from Japan to Aboriginal Australia and Patagonia. It’s a pedantic niche point, but I do think it speaks to Scott’s penchant for sweeping statements

[@OnlyKnowsGod]

It a very American mindset. Most of what he says wouldn't work in the UK.

[@madhousemusic3]

Why?

[@cmxsprt]

The problem in the US is making money is a life or death issue which makes people absolutely ruthless towards other people. You could have capitalism and people could love making money and work really hard, but they wouldn’t have to worry about dying if they don’t make the money so get universal healthcare and let your people be happy.

[@matthewcaldwell8100]

Nothing this man says amounts to much ore than "be born before my generation destroyed the world." Oh, and index funds.

[@TysonG11]

yea james three hundred a month?? twenty four years ago?

[@TheJamesAltucherShow]

Yes, it's hard to believe right?

[@TysonG11]

@@TheJamesAltucherShow wild, 2.5 decades and 800-1000%

[@oldschoolpanels]

I am the key master

[@johnnymartinARTIST]

just like topic he chooses mr. G goes out of focus....

[@thru_and_thru]

Not everybody moves to NYC with the sole intention of getting rich. Had NYC only attracted those types of people over the past few decades, the city would never have built the name it now has. The arts are what made this city cool let’s not forget….not the finance bros who worked at Morgan Stanley. The problem is not the arts have pretty much left as they can no longer exists in this city so what we have is a lot of people who are already rich, and a lot of people trying to join the club. Nothing wrong with trying to get rich of course but the sole has been stripped from the city as a result.

[@DelroyGill]

But you have to be “richer” than 90% of places in the USA even to attempt to live here

[@thru_and_thru]

@@DelroyGill yep that is how it is today. The days of moving to NYC for artist (who are not supported by their parents) are pretty much over.

[@davew4930]

This guy attracts money honey to flies.

[@HM-mw7cg]

I like Scott but he’s no economist. The stock market is not the economy, equality is rising, spending power is down. His wealth privilege is showing. Has no idea how the working and middle class live anymore

[@awdheshpriyadarshi8037]

Stockholm

[@jmcampbell05]

WHY IS GALLOWAY'S NOSE CROOKED? DOESN'T THE MONEY HE HAVE WARRANT FIXING IT?

[@danieldpa8484]

Western arrogance to think London & Amsterdam only worth it cities in Europe - Vienna, Prague, Budapest, Warsaw - these cities are top notch

[@MegaMOUNDS]

It's not arrogance, it's from experience. There's also nothing 'western' about it.

[@danieldpa8484]

@@MegaMOUNDS “experience” staying in your own bubble is no experience at all, it’s arrogance

[@MegaMOUNDS]

@@danieldpa8484 Warsaw can't hold a candle to London's finance industry or opportunity, champ.

[@tertainment414]

I think you're being arrogant here. He's not talking about the cities which are "worth it". There are plenty of great cities that are worth living. What he is talking about is living in the hyper commercial cities of the world like New York City, London, Hong Kong, Tokyo etc.

[@offroad_explorer]

@@MegaMOUNDSWarsaw is great if you’re a potato exporter.

[@philmaturanodrums]

This guy lives in a Bubble LOL

[@samantharamirez2870]

lol

[@kimchan7189]

Where is the beef? Get to the point. Going all over the place.

[@2000dpdpdp]

This dude only cares about Kids in New York lol

[@mobdroitchmobdrovitch9633]

These guys are broke and giving financial advice Wow seriously !!!

[@angelique935]

You can't truly possess real sustenance, wealth, and wisdom without living according to the Holy Torah - the Tree of Life reality.