661 - Quick Basic Economic Lessons by James Altucher

The James Altucher Show

James Altucher

Society & Culture, Talk Radio, Writer, Philosophy, Comedy, Chess, How To, Entrepreneurship, Jay, James, The James Altucher Show, Altucher, Author, Jay Yow, Education, Jay The Engineer, Business, James Altucher

4.6 • 2.7K Ratings

🗓️ 21 November 2020

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

To create a Side Hustle Business, you need to know and understand the basic economic principles. In this episode, I gave quick basic economic lessons on Warren Buffet, housings, relationship, student loan, and gold vs bitcoin! I hope this episode helps you understand the basic economy. If you have any question or feedback, tweet @jaltucher I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast. Thanks so much for listening! If you like this episode, please subscribe to “The James Altucher Show” and rate and review wherever you get your podcasts: Apple Podcasts Stitcher iHeart Radio Spotify Follow me on Social Media: YouTube Twitter Facebook Linkedin

Transcript

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0:00.0	This isn't your average business podcast and he's not your average host.
0:06.8	This is the James Altiger Show.
0:13.6	Today we're going to do a review of basic economics, not in some boring way, but there's
0:19.2	some parts of economics concepts that are interesting to learn and practical and beneficial.
0:27.0	If you're going to do a side hustle, any of the side hustles that we've discussed over
0:29.9	the past few months, it's good to know some concepts of basic economics.
0:33.8	I'm going to give, here's my idealist for the day.
0:36.4	I'm holding up my waiter's pad and I'm going to give maybe 10 quick lessons from economics
0:42.7	on everything, from Warren Buffett, the economics of dating, the Paris Accord, to the velocity
0:48.7	of money and how that's affecting cities, Bitcoin versus gold and a bunch of other topics.
0:55.5	If you're ready, here we go.
0:57.8	First off, this is an interesting topic.
0:59.8	I could probably just do a whole podcast just on this, but lesson number one, why is Warren
1:04.6	Buffett rich?
1:06.2	A lot of people think Warren Buffett is rich because he's a great investor and that's definitely
1:11.8	true.
1:12.8	But let's look at actually how Warren Buffett got rich.
1:15.6	We're going to learn several interesting business models very quickly.
1:20.0	The first is Warren Buffett when he was young in the 1950s.
1:24.3	He started one of the first hedge funds.
1:27.2	Here's what a hedge fund is.
1:29.0	Investors invest in a hedge fund, the hedge fund manager, in this case, Warren Buffett
	...

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