#462: As a society, we’re fascinated by stories of the rich. We hear news, see social media posts, and read books about how others become wealthy, how to maintain that status, and what their lifestyles look like.
But what if the media we’re consuming is misleading us?
Dr. Seth Stephens-Davidowitz’s research shows that the stories about the rich that dominate the popular press are misleading.
Stephens-Davidowitz holds a PhD in economics from Harvard University. He’s a data scientist and a New York Times bestselling author.
In today’s episode, we discuss the misleading stories around the rich. We unearth the truth behind those stories, using data rather than narrative.
We explore the types of businesses that quietly make people millionaires. We describe the ages, occupations and locations of people that become rich, and the unexpected paths they take to achieve this. And we share actionable takeaways that will help you do the same.
Discussion as of September 2023:
01:38: Who gets secretly rich?
02:18: The kind of protection you need if you want to be rich
04:10: The number one way to become a millionaire
08:44: What is takes to be a successful entrepreneur
09:19: The detrimental impact of some stories
12:48: The worst kind of businesses
17:14: Who makes up the best entrepreneurs?
21:18: Increase your luck surface area
27:57: How to revolutionize a field
30:37: The ACTUAL path to entrepreneurial success
32:08: The role of duration neglect in decision making
For more information, visit the show notes at https://affordanything.com/episode462
Learn more about your ad choices. Visit podcastchoices.com/adchoices
#476: Mike Massimino stared in disbelief at his TV. The date was July 16, 1969, and he marveled as Neil Armstrong and Buzz Aldrin landed on the moon.
At that moment, he knew he wanted to become an astronaut. He was six years old.
But as Mike grew older, he developed more “realistic” dreams. After...
#475: Born in 1924, Charlie Munger was raised during the Great Depression.
At the time of his death on Tuesday, his net worth was estimated at $2.6 billion.
But Munger’s greatest achievement wasn’t merely the scorecard of his net worth. His wit and wisdom, which Munger shared with the world...