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Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

Main Street Capitalism: An Entrepreneur’s Journey

Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

The Rich Dad Company

Entrepreneurship, Business, Investing

4.13.9K Ratings

🗓️ 3 July 2024

⏱️ 36 minutes

🧾️ Download transcript

Summary

In this episode of the Rich Dad Radio Show, host Russell Gray, sitting in for Robert Kiyosaki, discusses the concept of Main Street Capitalism, emphasizing its importance for personal wealth and global economic stability. He interviews Leila Adnani, an entrepreneur who transitioned from a traditional job to owning her own business and creating high-value jobs for others. Leila shares insights from her journey, including the challenges of student debt, the undervalued return on a college education, and the significance of self-education and continuous innovation. The conversation highlights the necessity of understanding real value creation in capitalism, as opposed to simply trading currency or derivatives. Leila also stresses the importance of maintaining a growth mindset and the impact of effective mentorship.

Transcript

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0:00.0

This is the Rich Dad Radio Show, the good news and bad news about money.

0:07.0

Here's Robert Kiasaki.

0:09.0

Welcome to the Rich Dad Radio Show, The Good News and Bad News about money. I'm Russell Gray sitting in for

0:14.4

Robert Koesaki and I am super excited to be here in today's show we're gonna be

0:18.8

talking about what I call Mean Street capitalism what it is why it matters and how becoming a Main Street capitalism. What it is, why it matters, and how becoming a Main Street

0:24.9

capitalist is not only a great path to personal wealth and freedom, but why the world

0:30.5

needs you to be a successful Main Street capitalist.

0:33.1

Plus we've got a special guest, a real world Main Street capitalist

0:36.1

whose entrepreneurial journey has some amazing lessons and you're really gonna love that.

0:41.3

But before we get there, let's just talk a little bit about capitalism and kind of what

0:44.5

capitalism is because it's a really misunderstood word in fact to some people it's a

0:48.8

dirty word obviously the word capitalism is rooted in the word capital.

0:53.3

That's probably another misunderstood word.

0:55.6

So we're going to go ahead and throw away the economic textbooks for a minute.

0:59.0

We're just going to use some good old-fashioned Main Street common sense. Capital is just the stuff that we all want.

1:06.5

Goods and services. If you really think about it, we really don't want the money.

1:10.0

When you think about, oh, I want a bunch of money, what you really want is what the money will buy you and so the stuff that you really want to have that's capital so money isn't capital it's just a claim on capital so money is really a store of value somebody goes and

1:24.4

produces something you go and produce something you're not ready to

1:27.4

consume your own production or you don't want your own production because you

1:31.3

want to trade it for somebody else's production, then you use

1:34.4

money and we sometimes mix up money and currency. I'll talk about that in just a

1:38.8

minute, but money is that thing that we use as a medium, used to use as a medium of exchange but no more but we use it as a

...

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