Alex Hormozi: The #1 Reason Young People Stay Poor

The video discusses the importance of prioritizing learning over earning in order to achieve long-term success and financial stability, using examples of two individuals who took different paths in their careers.

This video by Alex Hormozi was published on Mar 1, 2023.
Video length: 09:41.

In this video, Alex Hormozi discusses the #1 reason why young people stay poor, which is their focus on earning rather than learning.

He gives examples of two individuals who took different paths in their careers, one focusing on earning and the other on learning, and explains how the latter was able to achieve long-term success by constantly improving his skills and knowledge.

Hormozi emphasizes the importance of putting in the time and effort to learn and improve, rather than just trying to make quick money.

• Young people prioritize earning over learning
• 52% of high school seniors believe they will be millionaires by 25
• Learning is more important than earning for long-term success
• Young people need to prioritize learning over earning for long-term success
• Examples of two individuals show the importance of learning and improving

The #1 Reason Young People Stay Poor - YouTube

Introduction

• Young people prioritize earning over learning
• 52% of high school seniors believe they will be millionaires by 25
• Learning is more important than earning for long-term success

Example 1: Prioritizing Earning

• A young man with no experience in video editing gets a job offer for $60,000
• He asks for $3,000 more instead of accepting the offer
• He ends up taking a job with a small business with no mentors or opportunities to learn
• He misses out on the chance to learn from more experienced professionals
• He stops learning and starts earning, limiting his long-term potential

Example 2: Prioritizing Learning

• A young man with no skills is advised to pursue a sales role
• He doubles the minimum quota of calls required and spends time learning from the top salesperson
• He proves himself and gets promoted to a top closer position
• He continues to learn and improve, even taking a lower-paying job for better experience
• He prioritizes learning over earning, setting himself up for long-term success

The #1 Reason Young People Stay Poor - YouTube

The Importance of Learning

• Doing more volume of work leads to faster improvement
• Respect is earned through hard work and dedication
• Young people need to humble themselves and prioritize learning over earning
• The Dunning-Kruger effect causes people to overestimate their knowledge
• Learning and improving is a lifelong process

Conclusion

• Young people need to prioritize learning over earning for long-term success
• Examples of two individuals show the importance of learning and improving
• Doing more work leads to faster improvement and respect
• Learning is a lifelong process that should be prioritized over short-term gains

The Importance of Prioritizing Learning over Earning

• Business owners prioritize extracting more value from employees than they pay them.
• Coming in with a learning mindset allows business owners to assist in career growth and provide mentorship.
• Comparing oneself to those earning more can lead to shortchanging long-term earning potential.
• Early skill sets can compound and lead to higher earning potential in the future.
• Warren Buffett worked for free to learn from one of the greatest investors of all time.
• Investing in oneself through learning can lead to long-term success and financial stability.

Examples of Prioritizing Learning over Earning

• Jay-Z learned how to rap, promote, and run a record label before becoming a successful Rainmaker.
• Learning additional skills, such as bookkeeping, accounting, taxes, and insurance, can lead to becoming a CFO or Rainmaker.
• Alex Hormozi worked for free and then minimum wage to learn from one of the best in the fitness industry.
• Swallowing pride and learning from the best in the industry is worth more than comparing oneself to those earning more.
• Long-term trades for learning can lead to a track record of experience and respect from others.

Watch the video on YouTube:
The #1 Reason Young People Stay Poor - YouTube