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  • did you have any questions echo yeah i have a question sure echo charles

  • chiming in yep for the second time you know how

  • like we're gonna go to entrepreneurship sure you know how uh

  • it feels like anyway that it's kind of become like a trendy thing

  • to be an entrepreneur whereas a lot of times like you might even notice people

  • they don't know what they want to do they don't know what problem

  • they want to solve or product they want to develop they just want to be an

  • entrepreneur because it it seems like it's like this cool the

  • cool thing now do you find that to be the case and if

  • so is that a good thing ah

  • yes entrepreneurship i think that it is highly romanticized and uh

  • it's easy to believe all you got to do is drop out of college and next thing

  • you know you're a zuckerberg yeah and you have a

  • company with billions of dollars but that's not how it works folks

  • and uh i so i do think that entrepreneurship

  • is a mindset you don't have to start a company to be an entrepreneur

  • it's a and if you were to look at the spanish equivalent you know like

  • emprender to like undertake it is someone who makes something happen

  • and you can innovate within a company that is not your own

  • within an organization that is not your own or you can create a company

  • so it's someone who makes things happen at the end of the day so

  • who is it is it in a are we in a boom cycle i think if we're looking at tech

  • entrepreneurship absolutely i think that there are certain

  • experiences every human being should have even if they fail

  • i do think that starting a business or enterprise even if it's a side gig that

  • they moonlight is worth the education

  • but there's a huge survivorship bias out there meaning

  • so you open a barrens let's say and lo and behold you see all these

  • mutual funds advertising oh my god they've had incredible returns for 10

  • years straight well uh maybe they're just the mutual

  • funds that happen to survive by luck for 10 or 20 years they happen

  • to place the right bet so of the 500 well the other 490 are no longer

  • advertising so you're getting if you're getting a false sample size

  • and you see that a lot with entrepreneurship they don't talk enough

  • about the failures they don't talk enough about

  • the vast majority who will fail is it good

  • i think that it's good for certain groups

  • it's certainly good for investors if they can play the game well

  • because even if there are a thousand shitty ideas

  • that might mean if more people a higher percentage of

  • say high schoolers or college students or otherwise are going into

  • entrepreneurship that you get an extra five that change the world

  • at the end of the day so i am i am a big fan

  • of entrepreneurship even though much like anything else

  • that is perceived as high risk and therefore

  • treated sometimes with reckless abandon where people are throwing hail mary's

  • when they should be doing risk management

  • you're going to have a high fatality rate yeah

  • and i don't view that as a bad thing necessarily uh but i do think that

  • and this is actually uh a question that brian johnson

  • who's a friend of mine he started a company called braintree it was sold for

  • i think 800 million cash to ebay and uh he settled huh

  • yeah he said he uh say he shows up in uh in tools titans as

  • well but a question that he has because he's

  • constantly flooded with various questions from entrepreneurs who

  • want to make 800 million dollars let's say oh what should i do this

  • should i do that what about this idea what about that idea and he just asks

  • them is it an itch or is it a burn and he's

  • like if it's just a little itch don't do it you're going to fail

  • because for the other people out there where it's a burn

  • they can't not do it they're going to rip your face off

  • and uh that i think is a very good question

  • and you know the other one uh which i think originally

  • came from let me think about this now evander holyfield's first coach

  • told him that he could be heavyweight or at the time a probably cruiserweight

  • champion of the world and he asked amanda if he wanted to do

  • it and uh he said he didn't know he had to

  • ask his mom so he went back asked his mom yes i would like to do it

  • he said well is that is that a is that a dream or is that a

  • goal those are two very very different things

  • so i think that uh if you feel like you can't not do it or

  • on the flip side as i would probably approach it if you

  • can look at it as a short-term experiment where you're doing a phase

  • one to see if you can develop any traction

  • or get 10 friends to buy whatever it might be

  • and you can cap the downside i always think about this first i don't think

  • about the 800 million i might make how can i cap the downside

  • then by all means you're taking in my opinion the measured intelligent

  • approach hey yeah throw a bunch on the wall and

  • see if anything sticks yeah because it's not really

  • like the the trend the fad you know that i

  • mentioned um that's not really what it says

  • um it's like saying i mean now we kind of have this emergence of like

  • the grind work hard and that's now that's kind of cool

  • you know the the working sure 20 hours a week like that's kind of becoming like

  • you know uh who is it a gary vee how he you know grinding 20

  • hours a day yeah yeah yeah yeah yeah it's it's it can

  • work i think that you just have to be careful what i would

  • suggest everybody do and i'm not sure if it's still on

  • wikipedia i believe it is study cognitive biases yeah humans get

  • themselves into a lot of trouble with cognitive biases whether it's sunk cost

  • fallacy you've put x amount of money or time into something

  • and therefore you continue to put good money after bad because you feel

  • like you have to make it back the same way you lost it

  • or the survivorship bias that i talked about you have there's a big difference

  • between correlation and causation things that happen at the same time

  • things that for instance and things that cause

  • something else to happen so you you just have to ask like

  • of a thousand people who do x how many are going to get the outcome that is

  • being showcased and if the answer is i don't know then

  • you should be really careful about assuming

  • that a leads to b right uh and for me it also comes back to the adherence so

  • if i'm trying to coach a hundred

  • entrepreneurs and if i'm talking to three entrepreneurs it's very case by

  • case but if i'm talking to a class which i did for a long time

  • class of high-tech entrepreneurs 100 students hypothetically

  • i want the advice i give them to apply to

  • the greatest percentage of people in the class as possible or to be usable

  • and if i say 20 hours a day there might be one or two mutants who

  • can do that and sustain it the rest are going to flame out and

  • for me in that environment it's about finding

  • first the the good program you can follow

  • as opposed to the best program that will knock out 99

  • but environment dependent now if we're in buds okay that might be

  • a different situation if you're training dogs for say military

  • or police utilization probably a different story

  • if you are looking for athletes for ultra endurance competition or 24 hour

  • plus competitions you are looking for mutants make no

  • mistake about it but if i'm trying to encourage the

  • greatest number of people to attempt entrepreneurship and succeed

  • then i'm going to adjust my advice accordingly hey do you

  • ever i get a lot of sleep for instance people are like oh my god that ferrous

  • guy is a four hour you must get two hours of sleep a night

  • i've done all sorts of weird stuff with sleep deprivation i've done

  • polyphasic sleep where i've gotten whatever it is two to four hours

  • a night for ages on end but my default is eight to nine hours a

  • night i love sleep i'm sorry jacko but i just love it

  • hey do you ever get um like you know how like entrepreneurship

  • as like this the trendy thing to do do you ever get annoyed when you see like

  • posers you know you know how they subscribe to all the things

  • and then they always want to talk about it and they use all the jargon

  • you know

  • i would say i'll tell you what annoys me more i don't mind people who

  • are blissfully unaware and extremely enthusiastic because quite

  • frankly well i shouldn't speak for everybody but i think everybody's been

  • there like i remember graduating in 99 oh my god was i excited

  • to get into tech and entrepreneurship because i remember this fact i we

  • i kind of knew a friend of a friend who sold the company for some ungodly sum of

  • money 340 million i was like what that guy's smart but he's not that

  • smart yeah and it was a very exciting time and i i

  • don't think in that in that world that excitement

  • can be undervalued really i think it's the fuel i think

  • it's it's a big part of the fuel the people who bother me are

  • the b players who think they're elon musk

  • or the or the once you're lucky couldn't pull

  • it off twice or didn't attempt like once you're lucky twice you're good the

  • people who had good timing and now think they walk on water yeah

  • like like they can they start like a course now those kind of guys oh they're

  • a million different varieties and i mean i'd like i'd love to see them

  • all run off a cliff like lemmings i mean they make me

  • absolutely insane because the best of the best of the best when you meet them

  • they don't act like dicks well i should take it back there are

  • probably a few but in general they have nothing to prove

  • they have nothing to prove like marcelo garcia he doesn't walk around with

  • invisible lat syndrome yeah yeah like mean mugging people in

  • the street are you kidding me he could he could destroy all he just doesn't

  • he's so far above it he doesn't care he's a nice guy to begin with but uh

  • yeah the folks walk around with a lot of

  • attitude and are acting here's the here's the description

  • entitled people who feel like the world owes them something

  • those people make me insane and there's a lot of in silicon valley that's part

  • of the reason i stopped all of my early stage tech investing two years ago

  • i was like i'm out i'm out this is no fun anymore for a lot of

  • reasons but that was one of them i was like i'm sick of sitting down with

  • people who have something sketched out on a

  • piece of paper and now they're asking for 20 million

  • dollars or a 20 million dollar valuation i'm just like what have you done

  • hey good on you great plan i know you want to change the world like

  • everybody i've talked to today with your photo sharing app

  • fantastic what have you built before because you walked in here like you're

  • you know levitating because you walk on water

  • and i appreciate the confidence slash arrogance but what have you actually

  • built the entitlement is what i can't stand

  • and

  • one of my favorite answers i ask people a lot of the time if you could put

  • anything on a billboard what would your answer be so there are a

  • few favorites discipline equals freedom that's one

  • another is no one owes you anything that's good no

  • one owes you anything it's from a multiple time world

  • champion and uh yeah i think that

  • by hooker crook a lot of the entrepreneurs and otherwise

  • who feel entitled will get served humbled by whether it's by competition

  • or by the universe so i don't have to do it myself yeah i was

  • going to say i don't think this even has anything to do with entrepreneurs

  • you know you just get people that are actually yeah that's tough that's just

  • the way it is yeah yeah it's interesting it is

  • interesting to be that guy yeah my uh my brother he goes to san

  • francisco from time to time he has a tech company

  • um and they uh he he he said it's interesting that it's this

  • fad now like you have like groupies of tech entrepreneurship like you have

  • fanboys you have posers to be a business person you know it's

  • not like you know like a rock star anymore it's like

  • i'm a tech entrepreneur oh yeah it's uh it's a weird environment but

  • i'm very much of the opinion that as perverse as it might seem

  • or as perverse as it is on many levels and weird

  • and unsustainable there's good that will come from it yeah

  • um the more entrance you have in the race it's just like the more freaks and

  • mutants you're gonna find and those those people are interesting

  • so i'm cool with it i'm just gonna wait until there's blood in the streets and

  • the game's a little easier for me

did you have any questions echo yeah i have a question sure echo charles

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B1 中級 美國腔

創業家精神是一種思維模式(Entrepreneurship is a Mindset - Jocko Podcast With Tim Ferriss)

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    KUMA 發佈於 2021 年 10 月 29 日
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