STOP Chasing Money -- Chase WEALTH. | How To get RICH | Garry Tan's Office Hours Ep. 4

A lot of you say you want to get rich. But what you really want is wealth. Find out why in this video.

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0:00 Overview
1:04 What is wealth?
3:07 Focus on skills
8:29 Don't sell your time!
11:45 Create a wealth machine

I’m Garry Tan, venture capitalist and founder at Initialized Capital. We were earliest investors in billion dollar startups like Coinbase and Instacart, and I’m a Forbes Midas List Top 100 venture capitalist in the world. We want these videos to be about helping people build world-class teams and startups that touch a billion people. Our startups have gone on to create more than $100 billion in market value so far, and Initialized has over $770M in assets under management.

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Find me on Instagram where I can answer your startup advice questions by DM -

[wzeng]

This is deep. I watch it over and over. Each time, I learn something.
- create a machine/process/business that makes money while you are sleeping. Trading time for a paycheck then get taxed at 40% is no way to wealth. This is where vast majority people are.

[landonmatthew]

“the path to wealth is making others happy”

[andresbf]

10:40 story reminded me of a quote from Viktor Frankl:

"When a person can't find a deep sense of meaning, they distract themselves with pleasure."

[amorosogombe]

This is the best self help video I have ever seen. No bull. No cliches. No platitudes. No abstraction. Very real.

[Discovery_and_Change]

6:09 If you can do things nobody else can do, your skills are priceless
7:06 Acquire skills that nobody else has, especially in combinations that are rare
8:53 That's why we made a computer -- because we wanted one and there wasn't one - Steve Jobs
10:03 Wealth is about positive-sum games (not finite games like selling your time)
10:26 We have limited time, but if you make a product, it can make money while you sleep (that's leverage)
11:23 You can be a creator instead of a consumer
11:37 The path to wealth is to make others happy and solve their problems
11:50 Create a wealth machine (compound interest)
13:37 When customers love you, they tell other people and you get more customers

[rainfallmarketing]

I'm from Kinshasa, Congo(Africa). I feel like a gifted student to watch you, Garry

[andrewhoult]

When you stop learning, you get left behind . Never stop educating yourself

[zhj]

I'm going through the lowest point of my life and this gives me the positivity to move forward

[GrowWithWill]

Don't sell your time - fantastic point here. It takes people years to figure this one out. Finding ways to leverage your time most effectively is key.

[jeanalexandre]

Long story short don't chase money Chase needs. Find out what people want and give it to them

[rafaelday-yo]

This is literally the best recommended 15 mins and 32 secs vid youtube gave me

[felipecostapeuser]

It's so rare to finish a YouTube video and feel like you genuinely learned something. Your videos give me this feeling consistently. Thank you!

[abdell]

mind blowing ====> above the API vs below the API!!!

[lamalfred]

I just quit my boring decent pay job today n decided to run my own business. I’m walking my dog, listening to this video n hating my ex-manager who was still giving me shit on my last day. This video is helpful.

[RobertMcCalle]

Great job Gary. Ever since the pandemic, my mindset truly change. I wasn’t happy before because I was chasing money. And money gave no satisfaction. It’s just temporary. But wealthy mindset does.

[Kwanlada_americano]

Best thing I discovered​ today while I am still seaching what to do next after being unemployed.

[geraldlofton]

His WORDS speaks Volumes because they are from his HEART ❤️ knowledge and Wisdom ...it’s not about money for him ...he is not trying to Sell u anything that’s the beauty of it All ...RAW TRUTH !!! the End Mic 🎤 drop

[bronco]

This is one of the most valuable content on youtube ever! I realized that even I heard many times familiar advices before, the truth is that I’ve forgotten about what the truth is important. Thank you, Garry!

[jeanalexandre]

A great book that covered the subject is the Fastlane millionaire by MJ Demarco

[Well_Earned_Siesta]

So glad you brought in the Alan Watts clip! I’ve been telling people about this for years and years. Later in that clip he talks about how it’s as silly as a carpenter telling you they can’t build a house for you because they’re, “all out of inches!” Money is a measurement unit for wealth, not the wealth itself.