He Made $100 Million Trading. It Ruined His Life. — Transcript

Full transcript

1. 0:00Every guest gets to a point in my
2. 0:02podcast where
3. 0:03they
4. 0:04won't tell the truth about something.
5. 0:07There's a line they won't cross.
6. 0:10Here's my version of it for you.
7. 0:12>> Mhm.
8. 0:13>> What's the one thing about money you
9. 0:15believe
10. 0:16that you've never said in a video?
11. 0:22>> I'm I I very much struggle to answer
12. 0:24that question because I feel like I've
13. 0:25scrubbed every surface of money that
14. 0:27I've [laughter] that I've that I've
15. 0:28seen. You know what I mean? Like how to
16. 0:30store it, how to keep it, how to make
17. 0:32it, how to multiply it.
18. 0:34How to get people to give it to you, how
19. 0:35to give it to other people.
20. 0:37You know, the the upsides of money, the
21. 0:39downsides of money.
22. 0:42Like in a lot of it is just cuz like
23. 0:44money isn't even a thing.
24. 0:47Like it's just it's just a
25. 0:49a generalized means of exchange.
26. 0:52Like that's really it. And so
27. 0:57I don't think there's like some deep
28. 0:58dark secret of money.
29. 1:00Like it's just a unit of measurement for
30. 1:02us to store, you know, to measure value.
31. 1:05And
32. 1:07that's why I fundamentally
33. 1:08like
34. 1:10you don't even make money, you earn
35. 1:11money by exchanging, by giving value and
36. 1:13getting it back and then getting money
37. 1:14as a monetary exchange for you giving
38. 1:16something and then them not giving you
39. 1:18anything back so they have to give you
40. 1:19money.
41. 1:19>> [laughter]
42. 1:19>> Right? If you do something for someone
43. 1:21else and they provide value back, you
44. 1:22don't need to exchange money cuz
45. 1:23hopefully the value was equal. If the
46. 1:25value was unequal, you have some value
47. 1:26and the rest is made up with money. It's
48. 1:27just a the way that we we
49. 1:30we uh balance accounts more than
50. 1:32anything. But
51. 1:36many of the talking heads that I see on
52. 1:38the internet talking about money will
53. 1:41use vague terminology
54. 1:44and try to anthropomorphize money in
55. 1:46terms of trying to make it human or some
56. 1:48sort of amorphous thing or they'll add
57. 1:51mysticism to it or manifesting it or
58. 1:53attracting it or there's energy, money
59. 1:55has a frequency.
60. 1:57They make up all this stuff
61. 1:58and I think it's because they cannot be
62. 2:01clear with their language in observable
63. 2:02terms and it is easier to confuse people
64. 2:04with rhetoric in terms of words that
65. 2:06sound good when set together
66. 2:08than the reality of what money really
67. 2:10is.
68. 2:11And so
69. 2:13because they cannot be clear about
70. 2:15giving instructions because they are not
71. 2:17good enough to do it.
72. 2:20There's a quote that I was told a lot
73. 2:21when I was younger, which is um
74. 2:23I don't agree with it. But it was said
75. 2:25by somebody that I don't I don't
76. 2:26particularly enjoy.
77. 2:28Um
78. 2:29but the individual said um if you cannot
79. 2:31impress them with your intelligence,
80. 2:32confuse them with your [ __ ]
81. 2:34And um
82. 2:36I would say that like I would say I live
83. 2:37my life in the exact opposite of that.
84. 2:39Of of uh
85. 2:42do not try to impress people with your
86. 2:43intelligence and also do not speak
87. 2:45[ __ ]
88. 2:46Just tell the truth. State the facts and
89. 2:48all that [ __ ] It's the number one thing
90. 2:49that we say in this marketing department
91. 2:50above all else. But the thing is is that
92. 2:52it's the whole truth.
93. 2:54That's the hard part. It's the It's all
94. 2:56the way down. It's six layers down
95. 2:57truth. How like how true can this be?
96. 3:00Um
97. 3:02I'll give you a I'll give you a story to
98. 3:03to illustrate this example. There was a
99. 3:05guy who had a um
100. 3:08he had a company that taught people how
101. 3:09to like trade stocks, which is like
102. 3:11a little okay. Day trading is probably
103. 3:14not the And he's teaching day trading.
104. 3:16And so um
105. 3:18he he asked to meet and I was like I was
106. 3:21very skeptical of this conversation to
107. 3:23begin with. He said, "I want to grow
108. 3:24this business." And I said
109. 3:28"You have a big flashing Vegas lights
110. 3:30above your head, which is if you're so
111. 3:32good at trading, why should I listen to
112. 3:34you?"
113. 3:36And so he's like, "Well, I have $100
114. 3:37million in verified earnings from
115. 3:38trading." I was like, "Okay." This is by
116. 3:40the way why I took why conversation. I
117. 3:42was like, "Okay, that's fine."
118. 3:44Then why are you
119. 3:46selling courses on it instead of just
120. 3:48like going making trades? He's like, "I
121. 3:50I make I want to impact people and blah
122. 3:52blah blah. I was like, "No, you don't,
123. 3:52dude."
124. 3:53No, you don't.
125. 3:55What do you like Please tell me the
126. 3:57truth cuz I will be able to help you if
127. 3:58you tell me the truth.
128. 4:00This went back and forth for a little
129. 4:01bit until eventually he was like, "I I
130. 4:05couldn't sleep. I lost weight. The
131. 4:07amount of stress that trading it ruined
132. 4:10my life. I couldn't find anyone to date
133. 4:12because I had to trade 24 hours a day
134. 4:14and it it just ruined my health and my
135. 4:16dad died at 50 and I just saw myself
136. 4:20going down the same path and he was
137. 4:21like, "I've made enough and I don't want
138. 4:22to keep doing this as my main thing."
139. 4:23And I was like,
140. 4:24"That's the truth."
141. 4:26So, in your marketing, you need to tell
142. 4:28the whole truth, which is you need to
143. 4:30say that, which is trading ruined my
144. 4:32life.
145. 4:34It's also the only thing I'm good at.
146. 4:35And so, if you want to make enough money
147. 4:37to ruin your life, I can show you at
148. 4:39least how I did it. I can't promise it's
149. 4:41going to happen for you. Um and my hope
150. 4:43is that you make enough that you stop
151. 4:45doing this and you can do something
152. 4:46else.
153. 4:46That is a compelling marketing message.
154. 4:50Is it believable? Much more.
155. 4:52>> I would buy that cuz it sounds like
156. 4:54>> it. Yeah, cuz you believe it though. And
157. 4:56so, that's the thing is it's like people
158. 4:58look for these angles in marketing, but
159. 4:59like the the rarest stuff out there is
160. 5:01the whole truth.
161. 5:02>> [laughter]
162. 5:03>> Yeah, do you want to do something really
163. 5:04hard and you tell the whole thing You
164. 5:06tell the whole thing, the whole truth.
165. 5:09And that is what will make uh compelling
166. 5:11advertising. So, to the the whole the
167. 5:13whole truth of money is more so that
168. 5:17people who lack skills around money make
169. 5:20up words
170. 5:23that sound good that mean nothing and
171. 5:26confuse many people and as a result they
172. 5:29take action on things that do not result
173. 5:31in any money making and are confused as
174. 5:33to why it doesn't work because their
175. 5:34model of reality is flawed.
176. 5:37And I would say that the vast majority
177. 5:38of content I put out there, the reason I
178. 5:40define terms so aggressively before I
179. 5:43make statements or before I answer a
180. 5:44question, it's like, well, why we
181. 5:45agreeing on these terms? Is because
182. 5:48unless we agree on terms, the reason
183. 5:49every agreement that makes any sense,
184. 5:51the first part of every legal agreement,
185. 5:53which means that we have communication
186. 5:54that has stakes, is a recital of [ __ ]
187. 5:57definitions. What does territories mean?
188. 5:59What does non-compete mean? What are
189. 6:01like we have to define these terms. And
190. 6:03so
191. 6:04it's it's funny because like I was uh at
192. 6:06a potluck the other day and they were
193. 6:07like,
194. 6:08"Well, what do you mean by that?" And
195. 6:09they like try to throw it at me. I was
196. 6:10like, "I will define anything that I say
197. 6:12because I stand by the words that I'm
198. 6:13saying. I choose these words for a
199. 6:15reason."
200. 6:17When someone
201. 6:19asks a question, and then I ask them,
202. 6:21"What do you mean by that?" And then
203. 6:23they get flustered. I'm like, "Well,
204. 6:24then you're asking me to answer a
205. 6:25question for a word that you cannot
206. 6:27define. So, how am I supposed to get you
207. 6:29what you want if you don't even know
208. 6:31what you're asking?"
209. 6:35I had an exchange recently with
210. 6:36[laughter] um
211. 6:37with uh
212. 6:39um someone in this company
213. 6:41um
214. 6:42that uh not that recently, but uh that
215. 6:45they made a request that I speak to them
216. 6:47um
217. 6:48more more politely or kinder.
218. 6:51And I said, "I'm super happy to. What
219. 6:53does that mean to you?"
220. 6:55And so it ended up being that they
221. 6:56wanted me to put a prefix before I
222. 6:58before I made statements. So, it's like,
223. 7:00"Could you just ask these as questions
224. 7:01rather than as statements?" And I said,
225. 7:03"To be clear, if I do if I say it as a
226. 7:05question instead of a statement, you
227. 7:07will deem that kindness and and and
228. 7:08politeness has been has been checked."
229. 7:10And they were like, "Yes." And I was
230. 7:11like, "Done."
231. 7:13And literally, as soon as I started
232. 7:14doing that, they were thrilled to tears.
233. 7:15I was thrilled to tears, too, cuz I want
234. 7:17to communicate in the way that is your
235. 7:19preference. If your preference doesn't
236. 7:20cost me anything to do, then I'm happy
237. 7:21to to oblige, right? But the thing is is
238. 7:24that so many people use these words. And
239. 7:26these words are used every day.
240. 7:28Kindness, politeness, empathetic,
241. 7:30energy, you know what I mean? Vibe.
242. 7:34Until we define what they mean, we're
243. 7:36just making noise at each other assuming
244. 7:38that the person knows when we don't even
245. 7:39know. Huh.
246. 7:41When someone says, "I'll know it see it,
247. 7:43that just means that you haven't defined
248. 7:44it yet.
249. 7:46If you want to see it more, tell them
250. 7:48what you want to see.
251. 7:50And that takes work, because you have to
252. 7:52think, "Oh man, Susan's so lazy."
253. 7:55You're like, "What makes Why is she
254. 7:56lazy?"
255. 7:58Like, what did she do to cause you to
256. 8:00say that?
257. 8:01And then eventually, it gets really down
258. 8:03to like, she's pretty slow on Slack to
259. 8:05respond to [ __ ]
260. 8:06Okay.
261. 8:07Well, if you want Susan to not be a lazy
262. 8:09Susan,
263. 8:11um
264. 8:11>> [laughter]
265. 8:12>> then we just need to say, "Hey, Susan,
266. 8:15just respond to Slack faster. People
267. 8:16start Stop thinking you're lazy."
268. 8:18That's it? Great. It's just like when
269. 8:20you drill down, it's like you can become
270. 8:21clear with your communication. And so, I
271. 8:23would say that the vast majority of
272. 8:24communication around money, my attempt
273. 8:26at all has been absolute truth, and
274. 8:28truth is that I define it as an
275. 8:29observable reality. And I try to use
276. 8:31only terms that I can say that I can see
277. 8:33with my eyes, so that other people can
278. 8:34also see it with their eyes and do it
279. 8:35with their hands and feet. If you like
280. 8:37this video and you're business owner who
281. 8:38wants to break through your current
282. 8:39revenue ceiling, I distilled every
283. 8:40lesson from scaling 10 businesses past
284. 8:4210 million and three businesses past 100
285. 8:44million into a completely free scaling
286. 8:46road map that I've used to go from zero
287. 8:48to one, zero to 10, and zero to 100
288. 8:50plus. And so, you can click here, and
289. 8:51you can check it out. Again, absolutely
290. 8:53free, and since you're business owner, I
291. 8:54appreciate you, and enjoy.