00:01:24.360This is the mid-aughts, so we are experiencing a bit of a tech boom.
00:01:29.880Like Facebook and Twitter are just getting off the ground.
00:01:33.140There's sort of a rush of capital into tech for the first time since the dot-com crash.
00:01:38.380Ferris himself was an employee at a digital storage company for a bit, and then he had launched a startup hawking some scammy neurotropic supplements that he called Brain Quicken.
00:01:55.320So it's also an accounting software when you want to stay up all night typing in your expenses.
00:02:00.700The original title for this book that he had pitched was Drug Dealing for Fun and Profit.
00:04:09.220It's actually quite a lengthy definition and I've cut out parts.
00:04:11.560The new rich are those who abandon the deferred life plan and create luxury lifestyles in the present using the currency of the new rich, time and mobility.
00:04:21.640This is an art and a science we will refer to as lifestyle design.
00:04:26.260My journey from grossly overworked and severely underpaid office worker to member of the new rich is at once stranger than fiction and, now that I've deciphered the code, simple to duplicate.
00:04:38.800From leveraging currency differences to outsourcing your life and disappearing, I'll show you how a small underground uses economic sleight of hand to do what most consider impossible.
00:04:50.360He is making it seem as if anyone can do this. And in fact, it's something that a 29-year-old tech millionaire can probably do relatively easily.
00:05:00.500This is like the rich dad, poor dad guy being like, OK, step one, buy an apartment building in a city experiencing a housing boom.
00:05:08.440I also want to point out that you read The New Rich and Lifestyle Design, but he immediately starts using acronyms for these things.
00:10:58.740Because, yeah, the ordinary advice would be like, yeah, go bum around Southeast Asia for a while and, like, you're just going to be broke and sleep in, like, youth hostels and stuff.
00:11:05.640Which is great. And like a super formative and awesome experience. But also you're not going to like earn money doing that. Like that's not a path to riches necessarily. It's just like a nice thing to do when you're young.
00:11:14.640Right. And so what we're getting, what we're building towards is that he's going to show you how you can do all that while still being a little bit rich. Right. While being part of this new rich club.
00:11:26.340Yeah. The last part of the opening section is about the practice of dreamlining. This is where
00:11:32.360you create a clear outline of what your dream is. OK. And he provides like worksheets and shit.0.99
00:11:38.560OK. Those worksheets have examples and I'm going to I'm going to read off some of those examples0.92
00:11:43.180to you. He says, let's say in six months I want to have an Aston Martin, a personal assistant
00:11:49.540and be a bestselling author. And then he lays out the cost for the Aston Martin. It's two thousand
00:11:55.860a month okay he prices the personal assistant at four hundred dollars based on 80 hours a month
00:12:03.000at five dollars an hour wait a rate that was below the federal minimum wage yeah uh at every point
00:12:10.580after 1997 he prices becoming a best-selling author at zero dollars uh because the only costs
00:12:18.160are a your time which is free and b three unpaid interns to handle promoting uh the book okay
00:12:25.840This is a turning point in the book because it's the first peek at the actual secret behind
00:16:31.660There was like a brief period of hype around like ordinary people outsourcing aspects of their lives to like personal assistance.
00:16:41.320Because whenever something is like great for giant corporations, there's always a giant PR push to be like, this will be good for you too.
00:16:49.440Yeah, this is going to change life for everyone.
00:16:51.500But then my understanding is that it completely fizzled out because once you actually get down to it, there's not that many tasks in your life that you can outsource.
00:16:59.660Like it would be kind of nice to be like, hey, can you call a restaurant and like make a reservation for seven for me and my friends?
00:25:57.140He says, if you aren't an expert, don't sweat it.
00:26:00.540Expert in the context of selling a product means that you know more about the topic than the purchaser.
00:26:05.240It is not necessary to be the best, just better than a small target number of your prospective customers.
00:26:11.140Let's suppose that your current dream line to compete in the 1,150-mile Iditarod dog sledding race in Alaska requires $5,000 to realize.
00:26:20.380If there are 15,000 readers and even 50 or 0.33% can be convinced of your superior expertise in skill X and spend $100 for a program that teaches it, that's $5,000.
00:28:27.880This is the most openly I've ever seen someone like this talk about this sort of thing.
00:28:32.620It's sort of perfect that he comes out of this like health grifting sector because like the public knows so little about health stuff.0.53
00:28:39.720I don't know if you're getting these in your inbox yet, Peter, but like somehow I've ended up on all these fucking PR lists for like health influencers.
00:28:45.100And so I get probably like 30 to 50 emails a day from these atrocious PR firms that are like, this guru says like kidney health is the key to longevity.0.98
00:28:57.300And they want to be a guest on our podcast.0.99
00:28:59.240And like a lot of podcasts fall for this.0.98
00:29:02.000And a lot of journalists also don't know shit about kidneys because most people don't.1.00
00:29:05.640And so like, okay, I'll interview the fucking kidney guy.0.99
00:29:07.700And then you start getting this like earned media.0.99
00:29:10.300You start showing up in media reports.
00:29:11.660And before you know it, like a large number of people think that you're an expert on whatever thing you've called yourself an expert on.0.96
00:29:19.040If you want to do an informational DVD that sells, you're probably doing some general wellness bullshit.0.95
00:30:10.260Freeing myself to employ others in exploitative conditions. Yes.
00:30:14.400What's interesting about this section is that for much of it, he actually pivots away from like this basic framework. And a lot of it is geared towards employees rather than like self-employed entrepreneurs.
00:30:33.540Which means we get to witness how a guy in 2007 thought employers would react to an employee request for remote work.
00:30:40.340Yeah, it's a little unfair to shit on him for this because, like, of course, this was the framework at the time and this has all become normalized.0.97
00:30:48.040But it's also very funny to shit on him for this.0.98
00:42:05.300And he seems to be loosely aware that people are concerned about this.
00:42:09.060And so I'm going to send you his attempt to lay the concerns of parents to rest.
00:42:16.860He says the prime fear of all parents prior to their first international trip is somehow losing a child in the shuffle.
00:42:24.220The good news is that if you're comfortable taking your kids to New York, San Francisco, Washington, D.C. or London, you'll have even less to worry about in the starting cities I recommended.
00:42:33.300There are fewer guns and violent crimes in all of them compared to most large U.S. cities.
00:42:38.760Oh, so it's like your kids aren't going to die.
00:42:40.980right so he seems to think that the primary concern of parents is like that your kid might
00:42:45.940get lost or kidnapped or shot or something yeah and it's like bro i don't even have a kid but i
00:42:52.920know that what every parent is thinking when hearing this scheme is my kid has to go to school
00:42:58.860yeah yeah yeah not like oh what if they get taken you know this is like how everyone says that when
00:43:05.800we were kids we were worried about quicksand yeah it's like a child's idea of what a parent
00:43:09.780would be worried about he's like now i know what you're gonna say what about parents but i do
00:43:15.340address it in the book actually i've got you covered yeah i feel like okay this is like coming
00:43:20.380into focus for me now like he's writing this as if it's advice but what it basically is is just0.98
00:43:26.480like a look how awesome my life is book if you're this guy your life rocks you're fucking rich you0.74
00:43:33.800don't have any like deep ties to any particular place you can like jet around the world and write0.95
00:43:39.220some emails and the money keeps coming in and you're like kind of sort of running this scammy
00:43:43.900company but you don't really need to do that much like yeah it seems like you just wanted to write
00:43:47.560a book about how awesome your life is but you're not like kind of capable of doing that as a form
00:43:53.160of public reason of like hey everybody look how great my shit is but like you are allowed to act0.83
00:43:59.000as if your awesome life is in some way replicable right and it just isn't so you just you're just0.87
00:44:04.140telling me how awesome your life is and pretending that the reason other people don't do this is
00:44:09.580because like they don't know some secret right and i i think you're right that he's just sort
00:44:14.240of bragging and the main reason i think you're right is because in his next book there's a0.96
00:44:19.700digression about how he's like an expert at giving women orgasms oh wait seriously oh my god0.92
00:44:25.760oh my god oh my god yeah it's like yeah uh my next book uh the the four hour nut uh0.93
00:44:33.120all of these guys eventually just become like dating gurus don't they there's like a weird
00:44:44.180it's like animals evolving into crabs one of his last chapters is about how like once you've freed
00:44:49.460up all of your time to do what you want you might find yourself searching for meaning in life oh
00:44:55.380and he calls the chapter filling the void oh my god which i mentioned because tim ferris now has
00:45:02.160talked openly about how he's had like bouts of depression and struggled with mental health and
00:45:06.360stuff but that he didn't recognize it at the time he wrote this book oh that's so interesting you
00:45:11.600see it like peek through with like the title of the chapter where he's like okay you freed up your
00:45:15.820time now you're going to hear the abyss calling yeah you're gonna wonder what to do about it and
00:45:20.500it's like oh tim you've got to do the therapy bro let's circle back to the therapy this is the
00:45:25.260I need therapy advice book. Holy shit. That's, that's honestly the first interesting thing1.00
00:45:31.000I've heard in this episode. Like a lot of this stuff that he was doing in his twenties was him
00:45:36.680either chasing something or running away from something, which as somebody who lived abroad
00:45:40.960for a long time, like you do really see this. It makes sense in general, right? That if you did
00:45:45.260find yourself with 36 hours of free time a week, you might start thinking about what the point of
00:45:51.400it all is, right? Like, yeah, there are mental and emotional challenges that come with having
00:45:55.700the freedom to do what you want. This is why I always listen to podcasts, even if I'm like just
00:45:59.740brushing my teeth or something, so I don't have to be alone with my thoughts. Never let the
00:46:02.940thoughts in. Don't do it. There's also a bit where he provides his own view on the meaning of life.
00:46:08.080He says that, quote, I believe that life exists to be enjoyed and that the most important thing
00:46:12.840is to feel good about yourself. OK, which is both trite and stupid. But I mostly wanted to include1.00
00:46:17.460it because only a 28 year old silicon valley guy would think that he should just throw in his view
00:46:23.380on the meaning of life yeah i've also got thoughts on the meaning of life fyi now that i've taught
00:46:28.400you about how to do a fake fraudulent instructional dvd the funny thing is i feel like the actual
00:46:36.080like low-key advice the book is giving without realizing it is to try to form like meaningful
00:46:42.020relationships and that chasing money is not gonna make you happy right and this thing of like i'm
00:46:47.740sitting by an infinity pool is like yeah it's really cool but like that that's not it right
00:46:52.720yeah you should do as much of this stuff in your 20s as possible i honestly like think0.60
00:46:57.180fucking off to other countries and like if you're able to do it is like great and like don't make0.97
00:47:01.840excuses fuck off it whips but also like you need to be able to form deeper relationships and like0.99
00:47:07.460have something to come home to. Well, that's what you have Asha for. She's sending you0.99