LifeMathMoney

LifeMathMoney talks about Friendship, Critical Thinking, College with CA & Much More | Born to Grow Podcast with Pooja Sharma

Check out on The Born to Grow Podcast Youtube Channel

Key Takeaways

  • “Everybody will have to learn about crypto” Harsh Strongman
  • If you feel that your English is not good, that’s the number one thing you should work on
    • “No matter how smart you are, if you speak broken English people tend to assume you’re an idiot” Harsh Strongman
  • Losing weight is easier than you’d think
  • Don’t let “Great” be the enemy of “Good”
    • Even if you can’t meditate for 15 minutes today, you can still meditate for 5 minutes
  • Use your willpower wisely
    • Make healthy behaviors habits
      • You don’t need to use your limited willpower to do them every day
    • Design your environment to not require willpower
    • “The fight to be healthy and fit is not in the kitchen, it is in the grocery store” Harsh Strongman
  • Your family doesn’t want you to be successful
    • They will guide you to safe and predictable paths
    • To become successful you need to take a lot of risks
  • “If something is true and you get offended by it, the problem is you” Harsh Strongman

Key Books Mentioned

Intro

Why Learn about Crypto

  • “Everybody will have to learn about crypto” Harsh Strongman
    • The sooner you learn about it the more you can gain out of it
  • The key to Bitcoin and other cryptocurrencies is that they are decentralized
    • They are not controlled by a central authority
    • It can’t be endlessly printed as it happens with fiat currencies
      • In many ways, crypto is more sound than the US dollar
  • Harsh launched a free course called Teach Yourself Crypto

Improving Your Presentation and Communication Skills

  • A lot of people in India would benefit immensely from taking an English speaking course
  • “No matter how smart you are, if you speak broken English people tend to assume you’re an idiot” Harsh Strongman
  • If you feel that your English is not good, that’s the number one thing you should work on
    • Improving your English speaking skills has an extremely high Return on Investment (ROI)
      • It will make you look smarter and more sophisticated
      • It increases the chances of getting jobs paid in foreign currencies
  • Best ways to improve your English
    • Listen to podcasts
    • Read more books, particularly novels
    • Practice speaking English with other people
      • No matter how much you read or listen to English, your pronunciation won’t improve unless you practice speaking
  • Speaking slowly and making pauses at the right time gives a sense of confidence

How to Lose Weight

  • With COVID and lockdowns, more people are becoming obese
    • Paradoxically, obese people are also more vulnerable to COVID
  • “The easiest way to improve your life, or at least the way you feel, is to lose weight” Harsh Strongman
  • Losing weight is easier than you’d think
    • Most people struggle with harsh diets that they can’t maintain
    • Then reward themselves, making up for all the progress they made
  • What to do if you want to lose weight
    • Skip breakfast
    • Stop eating sugar and vegetable oils
    • Increase your protein intake

Resolutions , Not Seeking Perfection and Willpower

  • You’re not going to change your life in one day
  • Resolutions create the expectation of perfection (e.g. I will eat healthy from today)
    • If you break it once, you lose the motivation to maintain it
    • It creates a vicious cycle
      • Once you can’t be perfect, you lose all your discipline
  • Don’t let “Great” be the enemy of “Good”
    • Even if you can’t eat the perfect diet today, you can still avoid eating that last dessert
    • Even if you can’t meditate for 15 minutes today, you can still meditate for 5 minutes
  • Willpower is limited, use it wisely
    • If you use up your willpower for every little task, you’ll quickly be exhausted
    • It’s best to use your willpower to complete the hardest tasks in your day
  • How to preserve your willpower
    • Make healthy behaviors habits
      • You don’t need to use your limited willpower to do them every day
    • Design your environment to not require willpower
      • Do not buy tempting cookies and desserts
      • “The fight to be healthy and fit is not in the kitchen, it is in the grocery store” Harsh Strongman

Friendship and Business Partnerships

  • Harsh defines a friend as someone he can trust and rely on, even in times of crisis
    • Trustworthiness and integrity are key
      • People’s integrity doesn’t change based on who they are dealing with
      • If you know a person cheated on other people in the past, it’s only a matter of time before they cheat on you
  • Friendships based on business relationships tend to be stronger
    • Working with someone you get to know them more deeply
    • You tend to have similar goals
  • Starting a company with someone is like getting married
    • It’s essential that you have known the person for a long time and that you can trust them
    • Even better if you worked together and your skills are complementary
  • You become like the people you surround yourself with
    • If you’re ambitious and a high-achiever, you should pick friends who inspire you
    • Stay away from people with unhealthy habits
      • Eventually, they’ll influence you too
  • For most relationships, you need a reason to stay around people
    • In school, proximity is usually the reason
      • Once you lose proximity, if you have no reason to maintain the friendship, it will usually weaken
  • Aristotle’s three types of friendship
    • Friendship of utility
      • Gym buddies, classmates, colleagues
      • You help each other in some specific domain
    • Friendship of pleasure
      • People you like to have fun with
      • Not the friends you discuss serious matters with
    • Friendship of the good (the highest form of friendship)
      • Friends who love you for who you are
      • High trust

Your Family Doesn’t Want you to be Successful

  • If you always listen to your family, it’s unlikely that you’ll become successful
  • Family members usually don’t want you to take any risk
    • They will guide you to safe and predictable paths
    • A stable job stifles your potential and your dreams
  • To become successful you need to take a lot of risks
  • Listen to your family’s advice seriously, but discern whether they’re just trying to be protective

Owning a (Scalable) Business vs Self-Employment

  • When you own a business, you make money when you sleep
    • You can outsource the tasks that need to be done
    • You can sell your business if you want to
  • If you are self-employed, you’re selling yourself
    • A doctor is self-employed
      • He needs to be there and do the work
      • Even if he owns his own clinic, he can’t sell it, because it’s attached to his personal reputation
  • Having employees or not doesn’t make a difference
    • There’s software that allows you to automate so many tasks
    • You can outsource work to freelancers
  • When starting a business think about scalability
    • “You want to start a business with no glass ceiling” Harsh Strongman
    • When you’re starting a non-scalable business you’re thinking small
    • Technology makes scaling so more easily and cheaper than it was in the past

Should You Bootstrap or Look for Funding?

  • It depends on what kind of business you’re looking to start
  • It’s getting cheaper and cheaper to start a business
    • You can host a website for $3 a month
  • Funding is not the issue, it is that people don’t try
    • Lack of funding is often an excuse for not trying
  • Start with what you have
    • Even if you can’t start the business of your dreams today because you don’t have the money, you can surely start an internet-based business

Starting an Online Business

  • Observe what businesses other people started online, and learn from them
  • Learn copywriting, it is one of the most important skills to have as online entrepreneurs
  • Build an audience on social media
  • You don’t have to quit your job to start an online business
    • You can find gaps in your day to work on it
      • Most people waste a lot of time at work
      • That extra time can be used to start your business
    • Harsh doesn’t recommend quitting your job until your business has replaced your income

Harsh’s Book Recommendations

Is College Worth It?

  • The education system is set to go at the pace of the least capable kids
    • The consequence is that the most capable kids aren’t pushed or intellectually challenged
  • Homeschooling would allow kids to pursue their own interests and go at their own pace
  • Most of the value of going to college today is
    • Building a network
    • Improving your communication skills
  • Most of those things can also be done outside of college, and in a shorter time frame
  • College doesn’t teach marketable skills that can be applied in the world
  • Perverse incentives created by college
    • People who earned a college degree will be reluctant to accept many jobs and will prefer to sit at home
  • Most people don’t know of any alternatives to going to college
    • India should develop a more entrepreneurial culture

Ancient Wisdom and Uncomfortable Truths

  • A lot of practical knowledge is stored in old books and scriptures
  • People think that new is better
    • But wisdom is eternal
  • Acharya Chanakya’s philosophy can be very eye-opening for many people
    • It is politically incorrect and some people may feel offended by reading him
    • “If something is true and you get offended by it, the problem is you” Harsh Strongman

Thought on COVID, Lockdowns and Real Estate

  • Harsh is more concerned about COVID’s impact on the economy than on his own health
    • As a young, healthy guy he isn’t afraid of the virus
    • Continuing to lock people down, in the long term can create social instability
      • Many people lost their job and have no chance to find a new one right now
  • Why investing in real estate doesn’t make sense now
    • Most people can’t afford to buy a house in the city
    • The need for owning a house in the city is decreasing
      • Mobility is much more valued today
    • It is possible that we will see a rise in property taxes, as governments need to raise money
      • Property is the easiest thing to tax
  • Partial and weekend lockdowns don’t make sense
    • The same number of people go out in a smaller window of time
      • It increases the chance of contact
    • It looks like a way for governments to feel like they are doing something
    • Most of these lockdowns aren’t working in any country, yet they’re still blindly implemented
  • Some reports showed that the numbers of cases have been inflated in the US
    • While it is likely that India is underreporting cases to make the situation appear less severe
  • How Harsh made his lockdown more productive
    • He bought gym equipment to exercise at home
    • He has been studying, working on his businesses and launched his new crypto course

Additional Notes

  • The education system often discourages questioning what is being taught
    • This leads to children not having critical thinking skills
    • There’s an important difference between encouraging critical thinking and simply straw-manning arguments
      • Straw-manning doesn’t address the point of the original argument
      • When people start their counterargument with “so you are saying that”, they are often distorting your ideas
    • Harsh recommends “The Autobiography of Benjamin Franklin” to develop critical thinking and debate skills
  • Harsh wants to learn Sanskrit to be able to read the original Ramayana instead of its translations
    • Much depth and meaning are lost in translation
  • If you want to find the truth, post your hypothesis on the internet, someone will correct you
  • Taking L-theanine with coffee will reduce the jitters and anxiety that some people feel with coffee
    • L-theanine is a natural amino acid found in green tea
Born to Grow with Pooja Sharma : , ,
Notes By Giorgio Parlato

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