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Billionaire reinforcing MJ's unconventional advice

Rain

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Apr 5, 2011
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Remember this? Why Passion Is Worthless Unless It Translates Into THIS…

Next time your rent or mortgage is due, try paying it with PASSION.

Passion doesn’t pay the bills!


Not that anyone here needs any further validation (at least, I would think not), but it is noteworthy to see billionaire Mark Cuban back this philosophy in his own words: Dont Follow Your Passion, Follow Your Effort « blog maverick

What a bunch of BS. ”Follow Your Passion” is easily the worst advice you could ever give or get.

Why ? Because everyone is passionate about something. Usually more than 1 thing. We are born with it. There are always going to be things we love to do. That we dream about doing. That we really really want to do with our lives. Those passions aren’t worth a nickel.


:smxF:
 

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MJ DeMarco

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Ha ha, when that article was first released I think I had 10 emails, "See, Mark Cuban agrees with you!!"
 
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Rain

Rain

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Ha ha, when that article was first released I think I had 10 emails, "See, Mark Cuban agrees with you!!"
Haha... yeah, I guess I am a little late lol.

Regardless, while you are tremendously successful by most standards, MJ, it is comforting to realize someone with thousands of millions of dollars to his name (aka billions) holds the same thought process.

Even Donald Trump, as much as I love the guy, continuously talks about the importance of "doing what you love," and how you probably won't succeed if you aren't passionate about your sh!t.

Too many blue-pill pushers in the world today. Yes, the red pill is easily the most bitter thing you'll swallow in your life, but the sooner you accept it, the better off you are. After one does a cost-benefit analysis of the red pill, the cost is high, but the benefits are still greater, and it is unfortunate to see big names such as, but not limited to Trump, feeding BS to society.
 

Darkside

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Jul 4, 2010
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Haha... yeah, I guess I am a little late lol.

Regardless, while you are tremendously successful by most standards, MJ, it is comforting to realize someone with thousands of millions of dollars to his name (aka billions) holds the same thought process.

Even Donald Trump, as much as I love the guy, continuously talks about the importance of "doing what you love," and how you probably won't succeed if you aren't passionate about your sh!t.

Too many blue-pill pushers in the world today. Yes, the red pill is easily the most bitter thing you'll swallow in your life, but the sooner you accept it, the better off you are. After one does a cost-benefit analysis of the red pill, the cost is high, but the benefits are still greater, and it is unfortunate to see big names such as, but not limited to Trump, feeding BS to society.

There's a reason why Donald Trump is a failed businessman. He went bankrupt and currently lies about being a billionaire. He basically makes deals off his name; so companies approach him to use the Trump name on their buildings and he gets a small payment for it, but he acts like he's the one who actually owns those buildings.

The only thing Trump is pationate about is the spotlight; he loves to get attention. That's why he's probably a failed real estate developer, because he focuses more on large projects than the smaller ones that will make him money but won't get him national attention.

He initially went bankrupt because he was trying to build too many large projects like hotels and casinos when he could have done the smart thing and buy blocks of apartment complexes or houses, and made money off the rent.

So, there's no point in taking advice from Donald Trump. I'd rather take advice from people that are actually successful; not just pretend businessmen who are really just attention seeking divas.
 
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Rain

Rain

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Apr 5, 2011
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There's a reason why Donald Trump is a failed businessman. He went bankrupt and currently lies about being a billionaire. He basically makes deals off his name; so companies approach him to use the Trump name on their buildings and he gets a small payment for it, but he acts like he's the one who actually owns those buildings.

The only thing Trump is pationate about is the spotlight; he loves to get attention. That's why he's probably a failed real estate developer, because he focuses more on large projects than the smaller ones that will make him money but won't get him national attention.

He initially went bankrupt because he was trying to build too many large projects like hotels and casinos when he could have done the smart thing and buy blocks of apartment complexes or houses, and made money off the rent.

So, there's no point in taking advice from Donald Trump. I'd rather take advice from people that are actually successful; not just pretend businessmen who are really just attention seeking divas.
For the record, Trump claims to never have gone bankrupt, although whether or not it happened is largely irrelevant. Also, while I can agree that Trump is notorious for wildly exaggerating his net worth, even Forbes acknowledges that he is at least in the $2-3 billion area.

And yes, he makes money off licensing his name, but what's wrong with that? If you could sell your name to a trusted developer for an easy $5 million per deal, why not? While he doesn't own every building with his name on it, he still owns a significant amount of skyscrapers and real estate around the world.

I could continue to dispute, but I think I've shared enough. My intention is not to start an argument, but to clear up incorrect statements about others (Donald Trump in this case). Further, Trump is not paying me for this, so I can only do so much.

Ultimately, though, as a billionaire, I don't see why he should simply be overlooked and trashed because of rumors or false misconceptions. Yes, he advises to do what you love, because that worked for him, but clearly doesn't work for the masses. At the very least, his advice is worth contrasting with other successful people. While I may disagree in the end, I will never think I am too good to hear what a billionaire has to say about wealth.

Best regards, Darkside.
 

Darkside

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Jul 4, 2010
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For the record, Trump claims to never have gone bankrupt, although whether or not it happened is largely irrelevant. Also, while I can agree that Trump is notorious for wildly exaggerating his net worth, even Forbes acknowledges that he is at least in the $2-3 billion area.

And yes, he makes money off licensing his name, but what's wrong with that? If you could sell your name to a trusted developer for an easy $5 million per deal, why not? While he doesn't own every building with his name on it, he still owns a significant amount of skyscrapers and real estate around the world.

I could continue to dispute, but I think I've shared enough. My intention is not to start an argument, but to clear up incorrect statements about others (Donald Trump in this case). Further, Trump is not paying me for this, so I can only do so much.

Ultimately, though, as a billionaire, I don't see why he should simply be overlooked and trashed because of rumors or false misconceptions. Yes, he advises to do what you love, because that worked for him, but clearly doesn't work for the masses. At the very least, his advice is worth contrasting with other successful people. While I may disagree in the end, I will never think I am too good to hear what a billionaire has to say about wealth.

Best regards, Darkside.

Forbes cannot accurately judge the net worth of individuals that don't have most of their assets in public companies. For instance, you'll be able to tell how much Mark Zuckerberg is worth once Facebook goes public because you'll know the market cap of the company and how much percentage of it he owns; from there it's just simple math.

Trump on the other hand has mainly private assets, so you wouldn't be able to know how much wealth he has unless he tells you, and given that he's a notorious liar who enjoys the spotlight, you can't trust a word that comes out of his mouth about his net worth.

Why would you trust the word of a man who claims to be worth $6 billion when Deutsche Bank estimated his net worth at $788 million when they loaned him some money. There's no reason to believe that a major bank would lie about Trumps assets just to get under his skin.

They had to do their homework before loaning him money so their estimate is likely much closer to the truth than either the Forbes estimate or Trumps own estimate. Forbes didn't send down a team of accountants to comb over every detail of Trumps finances, whereas he had to give his financial info to Deutsche Bank before receiving that loan.

After reading the below article, tell me if you still think that the wannabe billionaire diva who lies all the time is worth $2-3 billion even though he himself says that his net worth goes up and down based on how he's feeling on any given day. :coco:

http://www.independent.co.uk/news/world/americas/5bn-the-cost-of-saying-donald-trump-is-a-mere-millionaire-1687222.html#
 

andviv

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I always confuse the blue with the red pill. Which one is the one I have to take again?

About Trump, he is also selling the dream. And he is polarizing on purpose. He sells a good act.

Remember though, the guy started with more than $100M in his pocket (his dad was the real entrepreneur).

And it is true, he has never been bankrupt. Only his companies have been.

Remember when he was talking about running for president? My belief is that he quit that because he did not want people to know he was worth far less than what he says he is worth. Probably not even close to the billion.

But enough about Mr. Trump....

The post is about following your passion.

That sells. Resonates.

What do you prefer to hear? "Follow your passion" or "you have to work your a$$ off and give others what they want, even though you may not be a fan of that"?

Sell to the masses, live with the classes.
 

MJ DeMarco

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the guy started with more than $100M in his pocket
Give anyone this kind of money to start and suddenly "do what you love" becomes possible, regardless of need. You really have to consider the source with these kinds of global statements. If you start with no money and want to be self-made, "do what you love" won't help you unless its married to need and excellence.
 

Darkside

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Jul 4, 2010
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Give anyone this kind of money to start and suddenly "do what you love" becomes possible, regardless of need. You really have to consider the source with these kinds of global statements. If you start with no money and want to be self-made, "do what you love" won't help you unless its married to need and excellence.

Exactly! Elon Musk, who is a serial entrepreneur(the co-founder of Paypal, founder of Tesla Motors, founder of SpaceX, and founder of Solar City), said that it was important for him to succeed with an internet company so that he could then have enough money to follow his true passion which is space exploration and electric cars, since founding companies in those two areas takes a lot of capital:

“It would have been impossible for me to do electric cars and rockets right from the start,” he said. Unless you have a lot of capital, it’s difficult to convince VC’s to give you the amount of funding you would need for the bigger ideas.

Higher capital means higher barriers to entry. It’s why there’s not more innovation in space exploration, a business mainly funded by governments. For entrepreneurs, a better way to get into these sorts of industries is to have a successful, but smaller-scale, company first, then apply the success of the first company to a second one (and so on).

Elon Musk: Starting A Company Is Like Staring Into The Face Of Death | TechCrunch


The "follow your passion" approach would have had him trying to start SpaceX or Tesla Motors when he was broke, which of course would have ended up in failure. I'm sure that as a kid, he didn't dream about starting a company that made it easy for people to pay for things online but he saw the need for it and made hundreds of millions as a result. Paypal was what got him the money he needed to work on the projects that he was passionate about.


[video=youtube;lvWyoKqB78o]http://www.youtube.com/watch?v=lvWyoKqB78o[/video]
 
OP
OP
Rain

Rain

Contributor
Read Millionaire Fastlane
Apr 5, 2011
214
82
38
Good stuff, guys. I appreciate and respect all your responses.

@ Darkside: Logic accepted, thanks. I agree with you.

@ andiv: The red pill = reality. The blue pill = bullsh!t.

@ MJ: Yeah, a $100M headstart would change the dynamics a bit...
 

Darkside

Bronze Contributor
Jul 4, 2010
795
136
32
San Diego
Good stuff, guys. I appreciate and respect all your responses.

@ Darkside: Logic accepted, thanks. I agree with you.

@ andiv: The red pill = reality. The blue pill = bullsh!t.

@ MJ: Yeah, a $100M headstart would change the dynamics a bit...

Thanks!
 

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