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Short · MoreMozi

#businessideas

He argues entrepreneurs earn more because they absorb more risk, specifically the risk of hiring people who don't work out after all the time spent interviewing and training them. He frames the emotional toll of firing and starting over as the real cost that gets compensated.

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People
Alex
Channel
MoreMozi

Alex Hormozi ›

More details
Format
Short
Origin
MoreMozi Shorts
Transcript
Full transcript on this page

Key takeaways

  • And this is like the fundamental like we want we want all the upside without the downside, but we get compensated for the risk that we choose to take on and the risk that we choose to take on is the people that we hire that don't work out.
  • I don't really know.
  • I don't really know.

Chapters

  1. 0:00
    Abschnitt 1 We make more money than most people as an entrepreneur because we take more risk than other people do.
  2. 0:27
    Abschnitt 2 But I can't get fired, so one of us has to go.

Full transcript

Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.

2 segments

0:00We make more money than most people as an entrepreneur because we take more risk than other people do. And this is like the fundamental like we want we want all the upside without the downside, but we get compensated for the risk that we choose to take on and the risk that we choose to take on is the people that we hire that don't work out. And all the emotional burden of you going through all the different interviews you do, making the do I hire this person or this person? I don't really know. I don't really know. And then you finally make the decision and then you train them. You spend all this time on them and then they suck. And then you're like, do I suck or do they suck? We both suck.

0:27But I can't get fired, so one of us has to go. Right? And then you try again. And so we get compensated for that.