“I Got Rich When I Understood This” | Elon Musk | Big Money Investing Review

MrBigMoney Motivation & Inspiration How To Think Like A Big Money Millionaire, millionaire, Millionaire Investor 0 Comments

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have you noticed that more often wealth is not only about money not a single billionaire regarded getting rich as a raise for money because it is just a resource for them moreover it is an easily accessible resource you would ask why the answer lies in the principles by which every rich person lives imagine if in your life money was also just a resource that you could just snap your fingers to get such an option may seem impossible but i assure you in this video we will look at the money principles of the most influential person in the world today and i guarantee they will help you get rich this is your primary channel on finance money if you are tired of poverty click on the subscribe button right now elon musk is no ordinary billionaire unlike most of his colleagues elon has made billions of dollars several times doing completely different types of business musk made his first fortune at a digital media company called zip2 elon designed it entirely and sold it to compaq for 307 million dollars in 1999 when musk was only 27 years old shortly after selling zip2 elon founded x.com which later merged with paypal in october 2002 paypal merged with ebay for 1.5 million dollars he has since founded spacex co-founded tesla motors and chaired the board of solarcity currently elon musk has become the wealthiest man in the history of forbes ratings his fortune reached 219 billion dollars and now i will tell you how he managed to do it school ends but self-education never does according to his brother in his youth musk usually read two books a day literally absorbing knowledge as a result he has a sound understanding of various sciences like physics mathematics engineering and computer science over the years musk deepened his knowledge in the core area and gained insight into many other disciplines this is called the t-shaped approach to education as a result being an outstanding specialist in business he also enjoys his air edition which allows him to come up with new solutions and collaborate effectively with experts in other fields if you want to become rich you should apply this approach in life draw a large t on a piece of paper and list the core skills secondary skills and background knowledge related to your field if it helps describe the ideal specialist in these terms now see what you are worth in each of these areas deepen your knowledge through books courses articles and communication with other people constantly re-evaluate yourself in areas of interest and adjust your educational plan acquire new skills elon musk wasn’t a rocket scientist or a professional car manufacturer when he founded spacex and tesla he mastered new skills in a crazy amount of time elon explains that you should never let what you don’t know stop you from pursuing your passion investing in new skills is not a waste of money this will definitely pay off in the future besides there are various online resources and books that are available for you to use and learn new things original ideas and solutions come from learning new skills and expanding your knowledge through books in 2022 you need to hone a new set of skills to be successful elon musk adheres to this concept find the good in what you do you don’t have to completely change the world to do good but you should always try to provide real value as musk once said if you’re doing something that has a high value for people and frankly even if it’s something if it’s just a little game or a photo sharing enhancement or whatever if it does a little good for a lot of people i think it is great things don’t have to change the world as long as they’re good look for positive reasons in the work you do no matter how small it is it will help you keep more motivated single focus musk has mastered the art of staying focused there was a time during tesla’s formative years when a particular problem needed to be solved and so musk slept under his desk and worked 75 hours a week until that problem was solved he couldn’t think about anything else he was not distracted by other tedious tasks all he concentrated on was the task he had to complete now look at tesla it’s a thriving giant that is changing the automotive world of course it wouldn’t be like this if musk wasn’t in the foreground this concentration allowed musk to master the art of entering the state of flow a mental state in which a person performing an activity is completely immersed in a feeling of energetic focus full involvement and pleasure in the process of the activity this flow state is achieved only when a person can work without being distracted by other less significant tasks think about your job and how you complete your daily tasks how often do you get distracted how often does something irrelevant distract your attention making you less productive and less efficient how can you plan your day to complete one task and then move on to the next efficiently enthusiastically and purposefully focus on axioms i look at problems like a physicist and physics teaches us not to operate with analogies but to start with axioms an axiom is a basic assumption that cannot be deduced from any other assumption and thus it is something that can be relied upon when considering a complex issue here is an example from musk himself what is a rocket made of aerospace grade aluminum alloys as well as some copper titanium and carbon fiber and what is the cost of these materials in the commodity market it turns out that the cost of the materials that make up the rocket is about two percent of its total cost so instead of buying rockets for millions of dollars musk decided to buy cheap raw materials and build the rockets himself this is how spacex was born any problem must be reduced to basic statements when faced with a problem identify and write down your current assumptions about a possible solution take the situation down to its axioms break it down into its elements and determine which of them are undeniably true then create a new solution if you broke down the problem in the first two steps you could now create new solutions time is money it is an undeniable fact that elon musk considers time to be one of the most expensive resources because money comes and goes each of us can become a millionaire today and a beggar tomorrow and time is constantly running out and wasting it in vain would be a huge mistake this is the essential role in elon’s life the sense of time is one of the main principles of wealth which we have not touched today you need to understand that your delay costs you money because while you are standing still someone else is moving toward their wealth therefore the faster you start to act the more you will have time to achieve you can start by changing your lifestyle try to adjust your everyday life to the rhythm of elon musk adhering to the rules we highlighted today perhaps you will have millions of fresh ideas that will make you one of the wealthiest people on earth it’s your major 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