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Either solve the problems of a few rich people or a lot of poor people. But don’t get stuck in
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Key takeaways
- So, they don't even care.
- It would just be the equivalent of trying to sell $1 to that person with a $100 in their bank account, right?
- They probably would barely [music] even notice it, right?
Chapters
Full transcript
Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00When you solve rich people's problems, you get to charge rich people prices. If somebody got $100 in their bank account, and you're asking for 50, you're asking for 50% of their net worth. So, for them, it's a very important decision. But, that same $50 might be less than 1% of a rich [music] person's net worth. So, they don't even care. It would just be the equivalent of trying to sell $1 to that person with a $100 in their bank account, right? They probably would barely [music] even notice it, right? And so, most parents teach kids to get a job serving anyone who will hire them.
0:27Wealthy parents [music] teach kids to target specifically high-value markets with [music] specific problems that higher skills can help solve.