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June 19, 2024 • 49min
Listen To These 40 Minutes To Unf*ck Your Life
My First Million
In this episode, Sam Parr and Shaan Puri discuss the dilemma many face in choosing between pursuing money or passion. They explore stories and insights from figures like Sylvester Stallone, Jerry Seinfeld, and a low-key tech entrepreneur named Michael Pryor. The conversation touches on themes of resistance, the "unlived life", and the importance of doing the work even when it's difficult.
Listen To These 40 Minutes To Unf*ck Your Life
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Key Takeaways
- The world's best investors are obsessed with not losing money and looking for asymmetrical risk/reward opportunities where they can risk a little for potentially huge upside. They also know they will be wrong sometimes, so they set up systems to still succeed even when wrong.
- Difficult but important decisions like leaving a successful career path often take years to finally act on, with a combination of relief and terror felt when taking the leap into the unknown. Having support from mentors, teachers and ancestors who have made similar journeys can provide reassurance.
- Journaling is a powerful tool for processing feelings, recognizing patterns, and giving voice to different parts of yourself without judgment. A simple prompt like "Right now I'm feeling..." can unlock important insights.
- Radically accepting all parts of yourself, even the ones you've disowned or that seem unacceptable, is an important step in healing and growth. Those parts often developed to protect you or help you survive.
- A transformative belief is accepting that you are fundamentally good and doing the best you can, even when you fail or make mistakes. Extending this compassion and forgiveness to yourself can ripple out to how you treat others.
Introduction
In this episode, Sam Parr and Shaan Puri discuss the dilemma many face in choosing between pursuing money or passion. They explore stories and insights from figures like Sylvester Stallone, Jerry Seinfeld, and a low-key tech entrepreneur named Michael Pryor. The conversation touches on themes of resistance, the "unlived life", and the importance of doing the work even when it's difficult.
Topics Discussed
The Rise and Fall of the Lehman Brothers (0:00)
- The Lehman Brothers story illustrates the transition from a family business selling fabrics to becoming a major investment bank
- This shift represents the move from being "merchants who were buying and selling products, buying and selling commodities" to becoming a more financialized business focused on "using money to make money"
- This transition led to increasingly risky behavior that ultimately resulted in Lehman Brothers' collapse in 2008
The Life We Live vs. The Unlived Life (4:56)
- The quote from "The War of Art" by Steven Pressfield describes the "resistance" that stands between the life we live and the "unlived life within us"
- This resistance can take the form of excuses, distractions, and choosing the opportunistic path over the more fulfilling one
- Many people make a series of "pit stops" towards money and opportunity rather than pursuing their true calling
Jerry Seinfeld's Approach to Comedy (9:13)
- Jerry Seinfeld is known for his disciplined, daily writing routine, treating comedy like a job rather than just a passion
- He writes jokes every day, even when they are "garbage", because the consistent practice is what leads to his best work
- This contrasts with the "amateur" mindset of only working on something when the inspiration strikes
Solving Big Problems vs. Profitable Opportunities (12:54)
- Brett Adcock, the founder of a robotics company called Figure, previously had success with a "glorified job board" company called Vetrri
- Adcock explained that he chose to work on Figure, which aims to prevent school shootings, because he believes tackling big problems can be easier to recruit for and build a mission-driven company around
- This challenges the notion that one must always pursue the most profitable opportunity, and suggests there is value in aligning work with deeper purpose
Overcoming Fear to Pursue Passion (21:45)
- The hosts discuss the question "What would I work on if I wasn't afraid?" as a better framing than just asking "What should I do?"
- Fear of failure or the difficulty of a pursuit often holds people back from pursuing their true passions
- Separating the choice of what to do from the outcome allows one to focus on giving their full effort, rather than worrying about the results
Sylvester Stallone and the Wolf at the Door (23:27)
- The story of Sylvester Stallone writing and starring in the original Rocky film illustrates the struggle between taking a lucrative offer versus pursuing his creative vision
- Stallone turned down $265,000 to not star in the film, despite having only $106 in his bank account, because he was driven by the opportunity to prove himself as an actor and writer
- Stallone overcame physical challenges like a paralyzed side of his face to ultimately create the iconic Rocky character and film
Introducing "Low Key Billy" - Michael Pryor (30:10)
- Shaan introduces the "Low Key Billy of the Week" - Michael Pryor, a co-founder of successful tech companies like Fog Creek Software, Trello, and Stack Overflow
- Pryor is described as low-key, Zen-like, and not "intense" in his approach, in contrast to the common narrative of successful founders
- Shaan was impressed by Pryor's calm, non-aggressive demeanor and the way he and his partners "just kind of rolled with the punches" in building their companies
Reflections on Being "Popular" (39:29)
- Shaan notes that successful, low-key entrepreneurs are often curious about what it's like to have an audience and be "Internet popular"
- Shaan tells them he would gladly trade his audience for their net worth, as the joy of having an audience is often overstated
- There is an interesting dynamic where those with wealth and success are intrigued by the trappings of online fame, while those with online fame may envy the financial security of the wealthy
The "Number" to Walk Away (40:58)
- The hosts hypothetically discuss how much money it would take for them to completely stop creating content and walk away from their online presence
- Sam estimates he would need around $250,000, while Andrew says he would only require $100-200,000, as he enjoys the work and believes he could make that much anyway
- This highlights the different perspectives - one more focused on the financial upside, the other more attached to the creative fulfillment of the work itself
Conclusion
This episode explores the tension many face between pursuing money and passion, using examples from successful entrepreneurs, actors, and comedians. Key themes include overcoming resistance, the value of consistent effort over inspiration, and the importance of aligning work with deeper purpose rather than just maximizing profits.
The hosts share insights on the mindsets and habits of those who have navigated these dilemmas, from Sylvester Stallone's refusal to compromise his creative vision to the low-key, Zen-like approach of tech founder Michael Pryor. Ultimately, the episode encourages listeners to reflect on what they would pursue if they weren't held back by fear, and to find the courage to walk the path that truly fulfills them.