I cracked the code to getting rich (Hahaha!)

You can never get rich by exchanging your time for money. Rich people learn to use their minds NOT their time. Let me explain…

Society rewards you for being able to provide to it with something it wants BUT does’t know how or where to get it.

To be able to fulfil society’s unmet desires, the first thing you need is specific knowledge. This is knowledge that ONLY you have, or at best a very small subset of the population.

Generalists - generally don’t make much money, experts do. Anyone can be a generalist - but very few people have deep knowledge of one thing to be deemed an EXPERT.

On top of that, expert or specific knowledge isn’t widely available and it’s scarcity gives it value. Now of course, not all expert knowledge is created equally.

A dog trainer and an AI engineer both have expert knowledge but the engineer’s know how is more applicable and useful to society.

Having expert knowledge that can be applied in the cutting edge of trends, usually technology related is the ULTIMATE form of knowledge and is a good indicator you can become rich.

The second thing you need is a reputation - aka a “brand”. People must know you and see you as the expert of your domain. Individual brands or personal brands are what seem to work the best.

Having people’s attention on you will ensure that obscurity isn’t a possibility. After all, expert knowledge is only truly valuable if society perceives you as it’s carrier.

You can have specific knowledge but if no-one knows about you, it doesn’t matter.

Building a personal brand or garnering attention is a form of leverage that works in your advantage but on top of that, it serves as a moat, a differentiating factor form anyone else.

The last thing you need is leverage and you need a whole lot of it. This is where most people screw up.

Leverage allows you to enter a world most people don’t understand. Evolutionarily, humans don’t understand leverage - our brain works in a linear fashion.

If you spend 1 hour cutting wood with an axe you get 1 hour’s worth of wood cut with an axe. For 8 hours, you get 8 hours worth of wood.

Leverage acts as a multiplier.

There are 3 forms of leverage. Labour, Capital and Information - the latter also includes code.

Leverage will allow you to progress much faster than the rest of the experts in your field.

You don’t have to do everything yourself, you can use money, other people and code to accelerate your results.

The cheat code to making money is as follows.

STEP 1 - Stay on the cutting edge of trends and identify trends that aren’t just superficial but have the utmost potential of developing into something lasting and permanent.

STEP 2 - Identify something that society desires within that trend that nobody knows how to do. Either because it requires too much work or too much time. In any case, it will require specific knowledge. You need to have that specific knowledge beforehand otherwise you won’t be able to see the opportunity.

STEP 3 - Establish your reputation as the expert on that one thing. Leverage the gift of social media to make it known that you know. Showing people how to do what you know how to do for free seems to be the miraculous elixir.

STEP 4 - Use ALL forms of leverage. Hire other smart people, experts in their field to do the heavy lifting for you. Get your money to work, don’t be afraid to risk it - money in the bank is useless anyway. After all, not risking your money only indicates your lack of belief and faith in what you do. Use software and code to enchant your performance.

This is the most certain and highest probability way to get rich over your lifetime.

-Yiannis