Scott Galloway’s Advice To Make Millions In Your 30s & 40s

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Episode 581: Sam Parr ( / thesamparr ) and Shaan Puri ( / shaanvp ) talk to Scott Galloway about his Get-Rich formula they won’t teach you in school and the hard-to-hear but essential advice every 20-year old should hear.
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Show Notes:
(0:00) Don't follow your passion
(3:08) Reverse engineering $160M exit
(7:30) How to keep top talent in your company
(11:12) "I'm not your friend"
(13:41) Scott's best and worst hedge fund deals
(16:20) Losing $10M every day
(18:14) Handle triumph and disasters the same way
(20:54) If you can't fix it, you have to stand it
(24:28) Lessons about happiness from the dying
(25:51) Statute of limitations on suffering
(28:57) Where Scott steals his powerful phrases
(33:09) Shaan opens his notes app of funny phrases
(34:52) Scott's anti-excited list
(37:33) “Go live in a city”
(39:50) Opportunity in America v Europe
(42:30) The fallacy of hard work over time
(46:56) Money does buy happiness
(52:20) The Algebra of Wealth
(55:33) If you have a side hustle you need a better main hustle
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Links:
• The Algebra of Wealth - tinyurl.com/44yw3h6k
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Check Out Shaan's Stuff:
Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): bit.ly/SupportShepherd
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Check Out Sam's Stuff:
• Hampton - www.joinhampton.com/
• Ideation Bootcamp - www.ideationbootcamp.co/
• Copy That - copythat.com
• Hampton Wealth Survey - joinhampton.com/wealth
My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

[@gagnepaingilly]

I began working at 18, strived and grew my portfolio to 600k by 27. Recently, lost over 30% and want to mitigate risks. Also, planning to buy a home soon and want my portfolio to grow to a 7-figure ball park so i can retire in 15 years.. What should I do?

[@Lewyn298]

I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor like Azul to ensure appropriate retirement planning.

[@Shultz4334]

IMO, Adding JEPI and JEPQ is smart for retirement. As for staying committed to low-risk investments, it's all about balancing your risk tolerance with your long-term goals.

[@greekbarrios]

De-risk your portfolio, shore up your core holdings, and take some profits while balancing your portfolio allocations. I’d also suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I. We've made over 80% capital growth minus dividends.

[@Curbalnk]

@greekbarrios I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation??

[@greekbarrios]

*Kristin Amber Landis* is the licensed advisor I use. Just search the name. You’d find her webpage and necessary details to work with to set up an appointment.

[@daleharris4953]

"The #1 predictor of retention is whether or not that person has a friend at work" I can't tell you how many times I've said "welp my time here has come to an end" immediately after my work friend got a new job.

[@SeniorAdrian]

Guys, I've been suffering from depression and anxiety for 10 years. I'm 31 and living with my parents, but i started watching your podcasts and the information in them gave me hope. For the first time, in a long time, i stopped thinking about taking my life. I'm a digital artist/aspiring filmmaker. Do more of these videos and talk more about network, pipelines, strategic approaches to business, digital ways to make money as a solopreneur, industries and their capital. Thank you guys. You rock.

[@moneymakingsim4314]

Hand in there bruh. 🙏🏽🙏🏽

[@SeniorAdrian]

@@moneymakingsim4314 Thank you brother.

[@njay4361]

I hope you find a way to translate your inspiration to action. The key isn't to creating masterpieces every time, it's simply to do something. And to keep doing it, consistently. Tune out of the world and the chaos and tine into the inner you that is begging you to take a chance on yourself. I don't know you but I can see great things ahead for you. Keep going! 🫶

[@alexshibu3263]

You got this bro

[@wagmi614]

hold your head high king, and read some stoicism and ryan holiday or watch his videos, it'll help

[@herpaderppa3297]

What a lot of people don't get right about Europe is that people who start businesses go to a BANK and get a loan. If they fail they have to pay it back and ruin their whole life. Failing over and over and over is just not possible.

[@Asmonix]

my 30's begin tomorrow. got to watch fast

[@TylerBTalking]

Happy Early Birthday 🥳 It’s a blessing to make it that far.

[@alexshibu3263]

No ways my 20s start in 2 days

[@whisper2284]

😂😂😂

[@philipalxander]

My mid-20’s start in 4 days hahaha

[@tigreytigrey8537]

Key to getting rich fast (as someone who's kinda rich already) is to SLOW DOWN and ORGANIZE YOUR IDEAS AND THOUGHTS ON PAPER (or better yet a computer. Evernote is great for this)

[@1NN3RxC0R3]

"1 out of 7 businesses succeed that's why I started 9"

[@WellActualllyyy]

what’s the timestamp where he says that?

[@yousefales4665]

​@@WellActualllyyy Somewhere between 40:00 and 42:00

[@FostRaider]

It will take you 20 years....Do it

[@alexg8460]

Funny I’m almost at my 9th hope this one is the 1 🙏

[@zolagb9428]

Rich parents to take the hit from the failure. Wink wink

[@mikeeinstein1]

I really appreciate how there was not 5 minutes of teasers before the episode began. Please keep that up.

[@coolpeips]

His no bull is so refreshing

[@Babushka-nx4du]

Scott’s entire disposition is refreshing. We need an authentic voice of reason in this country right now.

[@user-yt5pj3lp3l]

This AMS66P is a revolutionary project and amazing technology.

[@projextawtt]

One of the things I liked about your videos was that I could listen to something interesting without the ads.

[@julianengel13]

I just watched his TED talk an hour ago, and now this popped up. So stocked 🎉

[@ddfelder2]

SAME!!! Best TED talk hands down!

[@EriPages]

"Stoked"

[@OzoTenzing]

Scott Galloway is all over KZbin.

[@owijayson]

Same

[@kennethrosever8843]

Great pod. Worth watching two times and then twice again with a notebook.

[@dm96177]

Scott, thank you for putting your voice out there and talking about these important topics. Just ordered your book and can’t wait to read it!

[@akshatshah4238]

Great pod. This is a masterclass on how to ask great questions...cheers Sam. Brilliant.

[@raebean6018]

I have never heard of this bloke before, nor have I watched this channel before, but as a 37 year old woman who has had to start over after a work breakdown, this was a really great talk. And the best thing is he's not a theorist! He's done the work, and he's not giving an unrealistic view of the world!

[@pyewaw]

I hated Scott so much because of his Twitter takes and now he has completely changed my perspective on so many things. What a genius! This is one of the best episodes you have ever done.

[@CoachMarkspeaks]

I fell behind 4 episodes because I was traveling and as I caught back up, I left this one for last because I thought the others would be better. All 4 of them were great but I just realized I inadvertently saved the best for last. This episode had so many 💎’s. Simply Amazing

[@ErickaWilliamsCC]

This is a great one.

[@brushstroke3733]

I lost my job nine years ago. When Scott talked about skills atrophying and losing confidence, it hit home. I need help getting started again.

[@kkhdelivery6208]

This hit all the emotions

[@TeamPlanlos]

both

[@dizzyh]

I am so grateful to have stumbled across this video. Thank you so much. This guy is amazing ☺️

[@souelyoung2233]

Very very brilliant and shrewdly conducted interview. I learn much and really enjoyed this one . Happy Mother’s Day

[@paritosh-sharma-storyman]

Absolutely brilliant. Scott is just sheer incredible

[@earx23]

Even the first 5 minutes are solid gold! Thank you for this! 12:00 Word, employees are not your friends. But indeed an excellent comparison is that they're your kids.

[@RM-jb2bv]

He just said the secret to his company is all his employees are friends with one another. Newsflash: Nobody goes to work and stays at a job bc they have a friend. That’s asinine.

[@earx23]

@@RM-jb2bv it can help. He didn't talk about the couples phenomenon, though. IMHO that's a big down side of people being friends in the work place. They're harder to command.

[@chilloften]

Yea, what’s in their contracts?

[@shanediesel4562]

First minute intro great! Clear, direct, actionable

[@kayser152]

This is one that I'm adding to a playlist folder and watching a few times.

[@Harpreet06]

Very interesting, he's right though, I've definitely stayed in workplaces too long just because I had friends there. A lot of wisdom here, you guys should definitely get him on again, his words really struck a chord with me.

[@dwayne9959]

Easily One of the better episodes

[@MattTheMortgageGuy]

How can you not love this guy and his sense of humor?! New Scott Galloway fan here!

[@tigreytigrey8537]

He's also one of those LA bubble people who's critical thinking abilities have been brainwashed away. Watch, I gaurantee the more you watch him you will eventually see Him go off on a random virtue warrior tangents that make absolutely NO SENSE whatsoever, Nor does it align with his ability to think critically in business. It will make you scratch your head since its basically a paradox lol.

[@Babushka-nx4du]

@@tigreytigrey8537 found the hate spewing troll/bot in the comments.

[@ido_oz]

One of your best Episodes of 2024 so far, if not the best.

[@martinboyd447]

So Powerful. Just listen if you wonder about the ups and downs. Amazing!

[@cuanchai]

A very refreshing episode that touched on every emotion.

[@luisg6404]

This is your best episode. Thanks!

[@charlespennock4063]

I needed this video! Thank you

[@UmarDin20]

Watched this episode a few times already, great episode as always guys 👏🏽

[@1122Jet]

Really Enjoyed this!

[@FostRaider]

Damn...I'm a 39-year-old business owner. This hits hard. Never heard of him until now. Thanks

[@drachenmarke]

He was big pro/censorship pro-lockdown type, a limousine liberal.

[@majordelays4909]

Pro lockdown - oof - that seems inconsistent with his values 🤔

[@cesuntbanii]

he's somewhat of a statist...

[@EcomCarl]

you nails it with focusing on talent over passion-developing mastery in a practical field can unlock real fulfillment. Excited to dive into 'The Algebra of Wealth' for more insights! 📘

[@CleanWithDarian]

I never heard of this guy before this podcast but I’m so glad I listened. This was so insightful and incredibly inspiring. Thank you guys!

[@AlexMacGregor]

Great episode! Scott is a legend

[@robertbruceryan]

Shaan , Sam, high praise moment- > You guys are a “Joey bag of donuts” pod cast. 😂 enjoy the acknowledgement!

[@angelocean365]

Scott is such a capital G!!!

[@danieladetayo3711]

My favourite teacher on my favourite podcast. There can only be one outcome

[@ripapartjoel]

Love how Sam and Shaan just let Scott go off for over 10 minutes on stoicism. (20:56 on)

[@perfectlycontent64]

Insane amounts of wisdom in this interview.

[@therealmvp7475]

Thank you.

[@phil_techuk]

So interesting you talk about the Tall Poppy thing in the UK. I'm from the NW of the UK and discussed the very same thing on a podcast a few weeks ago. Shot down if you want to be successful at something. Need to learn how to build each other up like our American cousins. Great episode

[@Caleb-ft6vj]

What is the Deloitte study that they mentioned in the beginning of the episode?

[@UWABEAUTY247]

You're the answer to a friend’s problem 🙌🏿🙌🏿🙏

[@HamidAhmadi-pv2vi]

Thank you very much for sharing your experience and knowledge about trading and binary options. You truly help people achieve financial independence.

[@warrenbailie]

Scott has this way of taking over the conversation or in this case the Podcast. He did the same on the Rich Roll Podcast, and it's not a bad thing. What he's sharing is well-thought-out and well-spoken education and wisdom. He's been through it all and as an educator has the experience to deliver it.

[@jrp6313]

This man is such an inspiration!!!! ❤

[@scottwilcox2997]

One of the best podcasts I’ve seen in a while. Scott is literally brilliant

[@drachenmarke]

Hmmm… Scot had a 2.4 GPA, lost millions in 2008… how did he make his $$$… Oh, start a podcast and consulting biz…

[@hzad5009]

Let's GET IT!!!!

[@PeterLotterhos]

Love yr honesty

[@scottmccoy4335]

Great talk Scott, dream and do it NOW

[@SantiagoGil-vs3ri]

well this guy is my new favorite....

[@missdale8290]

Great interview but I wish this guy had a book.😉 Thanks for sharing some of your wisdom, Scott!

[@JFourMileRun]

Great episode. Scott is funny.

[@Richversion369]

Thanks and really appreciate 🙏♥️

[@paulpatel9657]

Great advice.

[@moneymakingsim4314]

Definitely buying the Book this afternoon Scotty G!!!💪🏽 Love your content!! To the producers, yet Another banger! Love from East Baltimore. From Sim the trucking guy.

[@drachenmarke]

He’s all self promoting.. he’s a hack….. watch his old vids.

[@tarekaz]

Episode of the year so far. 🔥 Second time I think a guest of yours needs to have a movie made about them. First was Sarah Moore, now this.

[@stephanieawuah]

First time hearing of Scott G. Thoroughly enjoyed listening ‼️ Definitely replaying. If he HAD to make sacrifices so he could enjoy the "balance" he has now, would he do it again and to what extent, wondering 🤔

[@elloumimehdi5786]

Genuily one of the best role model. Very interesting

[@grahamkennedy7221]

51:44 Shaan nailed that one! A burp or a little cry maybe.

[@209CryptoE]

Great episode...top 10.

[@matador677]

Very few companies get multiples of revenue for their company. Tech companies like software where it’s high margin and the acquirers can own the IP, then that’s a possibility. EBITDA, receivables, owner’s equity and inventory if there is any is what will drive the valuation.

[@kevvwarren]

This is the realest pod ever dropped.

[@LukeMcCallion_]

I couldn’t put my finger on it for weeks, but now I got it, Scott sounds like the Head Pixie from Fairly Odd Parents

[@chefbrian26]

Ben Stein 😂

[@piopi_starjr7455]

Wow he does lol

[@ktferretti]

Mitch Hedberg Reference is a gem.

[@drewmcleod1598]

Finally some clickbait aimed at people in their 30s. Always seeing “how to make a million before you’re 20” is exhausting lol

[@TerenceMarais]

One of the biggest truths about the value of the US: "People start from yes here." No place on earth like the US.

[@okoiful]

How is this guy such a happy person?

[@KiKi-te9yd]

Love that he has educated himself enough to identify his weaknesses

[@TJInTech10]

well said

[@caitlynpotter]

I am so happy that i made a productive decision about my finances that changed my life forever. I am a single mother and i live in Florida, i bought my second house in September and i hope to retire next year at 40 if all goes well. Thanks to Mrs Elizabeth Messer for helping me achieve this.

[@Aiolosz]

very interesting thing about balance you either have a balanced life or you push the crazy work somewhere in your life and then have more fun then the balanced out lifestyle has for the other half really something to ponder for people

[@thechri5357]

Wow. Didn't know the guy. Great interview

[@10000Mistakes]

Great pod. Probably worth listening 2 or 3 times.

[@murtazaalamm]

turning 21 today! Thanks for this🙏🏽

[@samcharo]

Powerful ❤❤❤❤

[@contecrayononpaper]

I wish I knew to buy Hasbro stock in early 1980s. What a fun game to play.

[@madeline5188]

Scott Galloway is a legend.

[@akshatshah4238]

A question. 55:33 What if the side hustle is the same as the main hustle? But the side hustle is for you...and main hustle is for an employer?

[@FilmedByRayBrown]

Mornin

[@AlaskaJiuJitsu]

19:17 and I joined the Army and closed my landscaping company in 2008 - missed the bull run preparing and deploying men. What to do now lol ?

[@ddfelder2]

Get back on that horse!

[@earlj.d.6285]

1:50 “90% employment rate which 90%+ enjoy…” I wonder if there’s a list or what fields/jobs these are

[@alecleake4553]

Love Scott

[@faisalislam9840]

Gotta love the prof. He reminds me of Ryan Reynolds.

[@barbarosozturk]

I will fall your trap. Before, or after the burn?

[@faisalislam9840]

@@barbarosozturk huh?

[@PaulaAdrian721]

Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them

[@AlexanderHernandezhj]

Exactly! My grandparents were so frugal but they had a TON of money on both sides. I remember my grandfather telling me "you want to make money while you sleep." And I guess that attitude passed down to my dad (RIP), because I remember going to his house one day and I had bought something I really liked, so I wanted to show it to him. So I said "Look at this! Isn't it cute? It was on sale...I saved 50%!" My dad replied "Well, if you're spending, you're not saving." Obviously I had no retort, and that has always stuck with me.

[@DaniCharney]

Saving and investing wisely while prioritizing necessities and a few small luxuries in relation to one's total assets is a great approach. It helps ensure financial stability and I my for the enjoyment of life's little pleasures without compromising long-term financial goals. It's all about finding a balance that works for you!

[@BillySampson681]

very true, a huge part of my portfolio growth has come during this bear market. I've been able to scale from $180K to $572K in a short period of time.

[@CarlosGarcia56590]

How do you do that? I'm interested

[@BillySampson681]

Thanks to my co-worker (Alex) who suggested Ms Angela Christine Derle.

[@charliehunt1470]

“my first baby mama”🤣

[@ayurieayub3945]

tq

[@RashaunMichelle]

Galloway’s background is beautiful. Who is the artist?

[@ayurieayub3945]

morning..mei/17/24 - Friday 06:25am kelantan-mlysia tq.. asslm'km have a nice day

[@alexsherman7414]

Bro dropped gems on gems

[@DerekJarmicki]

I want to see Sam's denim collection!

[@user-rs9qi7ks7i]

What am I going to do "Watch CSPAN all weekend" - that was epic

[@corywashko]

First cal Newport thumbnail transformation?

[@thefatnav]

This guest has some great insights but seems realy depressed

[@akhilsharma83]

That’s the part of his charm he does that all the time and every interview. He has a monotonous way of speaking intentionally.