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I don't have a problem with the ambition to become a billionaire, but as advice I think it's inactionable at best, and counter-productive at worst. I say that
by dasil003 5y ago
I don't have a problem with the ambition to become a billionaire, but as advice I think it's inactionable at best, and counter-productive at worst. I say that because becoming a billionaire is an outcome that happens after a long chain of decisions and events that need to succeed and compound over a long period of time. Focusing on the outcome of becoming being a billionaire is just day-dreaming unless you have the next actionable step, and unless you are already a 100-millionaire the next actionable step on the path to a billion is not predictable.
In practice I believe every billionaire has some very strong skills that enabled them to scale their wealth in that way, but those skills had to have been acquired by pursuing more achievable goals along the way. Ultimately they were lucky enough that their skills and assets aligned with growing economic waves which they rode to outsized success. I don't think you can reverse engineer this because every billionaire is a product of a particular time and niche that has already been exploited.
IMHO the better advice for young people is to focus on finding what you are exceptionally good at, and then intently practice and build those skills with short-term goals in mind. As you go, keep an open mind, learn to identify opportunities, say yes a lot, and if you feel you are onto something then go all-in on it long enough to see where it goes.
- economusty 5y agoThe advice was not so much advice as it is a goal. The goal is to become a billionaire, that is the action, setting the goal.