Galt's Gulch

How To Be Wealthy | And Why 95% Never Will Be

Posted by Maphesdus 10 years, 9 months ago to Video
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Just found this video while browsing YouTube and thought I'd share. :)

SOURCE URL: http://www.youtube.com/watch?v=pfU9gHwvVTA

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  • Posted by $ jbrenner 10 years, 9 months ago
    Your YouTube video was worth the view, but Francisco d'Anconia answered the question of how to be wealthy and why 95% of the population never will be even better in the money speech, my favorite part of the book. Maybe I'll start quoting from the money speech at my next party outside Atlantis. When Francisco told people about what was going to happen at his own company before the stock market opened the next AM, that was priceless. If we coordinated something like that with the movie release ....
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    • Posted by $ Maphesdus 10 years, 8 months ago
      Francisco only said that it was good to worship money and to work hard for it. That says nothing about making money via passive income instead of hourly income.
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      • Posted by Lucky 10 years, 8 months ago
        Francisco said- it is not how much money you have that gives you merit, but how you earnt it.
        (from memory)
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        • Posted by $ Maphesdus 10 years, 8 months ago
          True. Francisco basically said that if you trade value for value, then you've rightfully earned your money, and you deserve every cent of it, but if you obtained your money by looting it from others, then you are immoral. It's a true statement, but it still does not distinguish between the different income types, which is the point of this video.

          Francisco was essentially just distinguishing between a thief and an honest man, while this video is distinguishing between an employee and a business owner. It's not exactly the same comparison.
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      • Posted by $ jbrenner 10 years, 8 months ago
        I'm glad to agree, Maphesdus.
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        • Posted by $ Maphesdus 10 years, 8 months ago
          Well, I'm not so sure I agree that it's good to worship money, though I do understand that being frugal and keeping a close eye on both your income and expenditures is vital to financial prosperity, both in your personal life and your business (if you have one).
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          • Posted by $ jbrenner 10 years, 8 months ago
            Francisco did not think that money should be worshiped, but he did think it should be valued. Yes, the video and what you wrote are different, and I appreciate the distinction. I still don't think we are in disagreement.
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            • Posted by $ Maphesdus 10 years, 8 months ago
              Right, I don't think there's any disagreement between the two comparisons, either. I'm simply saying that Francisco's speech doesn't actually say how to become wealthy, only how to avoid being a dishonest thief.
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