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The Abundant Man

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Yes! Totally agreed. Our Scripted society in Malaysia believe that :

(Not trying to be racist here but we view everything through racial/ethnic background).
  • If a Chinese own a business, he inherits it from his family, charged customers overpriced, and is a snake oil salesman.
  • If a Malay, the major ethnic in Malaysia; own a business, he's connected to certain politicians, aided by some race-based economic policy, and clueless about business.
  • If a Malaysian Indian own a business, Oh! Wait they never own any other businesses, except an Indian restaurant, and it opens 24-hours/a week.
  • If someone from an indigenous tribe own a business, it could be just a fairy tale.
This is our situation, and it's a big problem/disgrace if you try to be an Entrepreneur.
Bruce Lee's grandparents were businessman and they got a lot of flak for it.
 
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Consolation

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Bruce Lee's grandparents were businessman and they got a lot of flak for it.
Cause owning a business invites flak, and being an obedient high paid employee attracts praise from society. Society that indoctrinates their sons and daughters to do the same - high paid employment.

OP. Your brain started this way, and this thread is your conclusion.
asian-career-options-iaii-doctor-igaasiansneverdie-omeless-disgrace-engineer-to-23838335.png
 

The Abundant Man

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Get Right

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If only someone had written a book about all this.
 
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Nik@16

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Yes! Totally agreed. Our Scripted society in Malaysia believe that :

(Not trying to be racist here but we view everything through racial/ethnic background).
  • If a Chinese own a business, he inherits it from his family, charged customers overpriced, and is a snake oil salesman.
  • If a Malay, the major ethnic in Malaysia; own a business, he's connected to certain politicians, aided by some race-based economic policy, and clueless about business.
  • If a Malaysian Indian own a business, Oh! Wait they never own any other businesses, except an Indian restaurant, and it opens 24-hours/a week.
  • If someone from an indigenous tribe own a business, it could be just a fairy tale.
This is our situation, and it's a big problem/disgrace if you try to be an Entrepreneur.
If an American owns a business it's probably funded by VCs. Lol
 

Nik@16

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Cause owning a business invites flak, and being an obedient high paid employee attracts praise from society. Society that indoctrinates their sons and daughters to do the same - high paid employment.

OP. Your brain started this way, and this thread is your conclusion.
asian-career-options-iaii-doctor-igaasiansneverdie-omeless-disgrace-engineer-to-23838335.png
 

ZF Lee

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Yes! Totally agreed. Our Scripted society in Malaysia believe that :

(Not trying to be racist here but we view everything through racial/ethnic background).
  • If a Chinese own a business, he inherits it from his family, charged customers overpriced, and is a snake oil salesman.
  • If a Malay, the major ethnic in Malaysia; own a business, he's connected to certain politicians, aided by some race-based economic policy, and clueless about business.
  • If a Malaysian Indian own a business, Oh! Wait they never own any other businesses, except an Indian restaurant, and it opens 24-hours/a week.
  • If someone from an indigenous tribe own a business, it could be just a fairy tale.
This is our situation, and it's a big problem/disgrace if you try to be an Entrepreneur.
I somehow found some folks all across my meetups and networking that went against these norms.

I'm Chinese, and while my dad is a businessman, he didn't inherit the biz from anyone. He did have some help from networking, but one could build that up if they know what they are doing.

And he didn't push me to inherit anything. He just told me to go study and work for others first.

I have a few Malay friends in tertiary studies, from well-to-do families. Perhaps they did have Bumi benefits, but some discounts or priority placings are pretty menial in the long run,IMO. If they want more out of their live, they will have to seek more than the national privileges, and thankfully, they can.

I've never met a Malay that was clueless about business or the word in general.

I used to compete with a Malay guy for grades in Standard Six. Smart guy. Last I heard of him, he was running for President at Petronas Uni.

When I did my pre-uni studies, doing AUSMAT, the head of the Student Council was a Malay. Very outspoken lady. Now doing Law and Crime in Australia.

On the Indians, I've never met Indians that were solely strapped to a restaurant. Only met engineers haha.

Times are changing. It doesn't need a government swap to make hints better. Even under the earlier administration, everyone will find ways to do business that are not racially based. Racial thinking is a waste of time, unless you want to look at their strengths or natural abilities.
 
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Consolation

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I somehow found some folks all across my meetups and networking that went against these norms.

I'm Chinese, and while my dad is a businessman, he didn't inherit the biz from anyone. He did have some help from networking, but one could build that up if they know what they are doing.

And he didn't push me to inherit anything. He just told me to go study and work for others first.

I have a few Malay friends in tertiary studies, from well-to-do families. Perhaps they did have Bumi benefits, but some discounts or priority placings are pretty menial in the long run,IMO. If they want more out of their live, they will have to seek more than the national privileges, and thankfully, they can.

I've never met a Malay that was clueless about business or the word in general.

I used to compete with a Malay guy for grades in Standard Six. Smart guy. Last I heard of him, he was running for President at Petronas Uni.

When I did my pre-uni studies, doing AUSMAT, the head of the Student Council was a Malay. Very outspoken lady. Now doing Law and Crime in Australia.

On the Indians, I've never met Indians that were solely strapped to a restaurant. Only met engineers haha.

Times are changing. It doesn't need a government swap to make hints better. Even under the earlier administration, everyone will find ways to do business that are not racially based. Racial thinking is a waste of time, unless you want to look at their strengths or natural abilities.

Hahaha! That was only an educated guess, looking from the sociological and demographic sides of our country. Not disagreeing with you here, but that's my POV, considering that we don't have any sort of things like 'The American Dream' that will plant the seeds of Entrepreneurship. Times are changing now, of course.

Talk about talent/strengths/natural abilities, I can't wait to make them my EMPLOYEES and pay them good money.

OP, INTERESTED?
 

Scot

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If an American owns a business it's probably funded by VCs. Lol

Have you ever heard the parable of the sour grapes? You should read it.

Also, dude, seriously, why are you here?
 

Xeon

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Have you ever heard the parable of the sour grapes? You should read it.

Also, dude, seriously, why are you here?

Maybe he's a chatbot which MJ has coded to drive up forum engagement....
 
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hydemx

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Despite being warned by the tags, I kept reading lol and all I can say is that change starts by oneself. His entrepreneurship was born dead because that's how he wanted it and there's nothing we can do about it.
 

MHP368

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4 years university degree, 4 years medical school, 3 years internal medicine residency, currently in second year of cardiology fellowship.

Real life example:
I don't recall whether he was allowed to do this in his IM residency (I think he was), but definitely in his fellowship he typically moonlights one 12 hour emergency room shift per week for an extra $1000. Add that to the approximately $60000 per year and it is well over $100k per year. Not living like a grad school kid.

As for the nurse, if I were a 32 year old single man with a retirement income of $30k per year ... throw me in that briar patch. That IS FU money. I would be living like a king in Danang/Bangkok/Eastern Europe. I would never give a moment's thought to the fact that I don't have a Lamborghini.

Except 300k student loan debt so thats 20k a year interest only

So again , socking away money to reture early...doesnt make any sense because they just wasted all that time in college and then 10+ years of high stress and 60 hour weeks to sock away a rather measley nest egg

Thats not freedom thats 20 years of slow laning with a little ego boost from the word "doctor"

So yeh he could then move to belize and live it up , except he could do that 20 years sooner with a shitty shopify dropshipping outfit
 

Suzanne Bazemore

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MJ DeMarco has not considered high level specialisations and management skills as a standalone skills that can also be a way to make f*ck you money in a decade while spending like an average person.
Yes, MJ covered it, and mentioned that some people, like professional athletes and performers, have a high value potential because of the aspect of Scale (if you affect millions you can make millions), even though they have a job. Anyone can become an entrepreneur, though, even people like me, because the marketmind doesn't care how old you are or what you look like, it only cares about what problems you can solve.
 
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edward ace

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Office politics and intrigues eliminate many qualified candidates for well- paying managerial, supervisory, and CEO positions, in major corporations. If you can make it, GREAT!
Calling your own shots is always better, no matter what the payoff.
Entrepreneurship is superior.
 

fastlaner_1992

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The best way to make f*ck you money, Entrepreneurship or High paying employment ?

f*ck you money is financial confidence as Dan Lok puts it; having your income covering all your expenses and then some.

If you are a highly paid employee you violate a lot of what is taught in the fastlane as you are still trading time for money. Time is your most valuable asset as you can't get it back. Also, you can't passively make money if you are an employee.

The best way to make f*ck you money is through entrepreneurship.

 

Raoul Duke

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The best way to make f*ck you money, Entrepreneurship or High paying employment ?

f*ck you money is financial confidence as Dan Lok puts it; having your income covering all your expenses and then some.

If you are a highly paid employee you violate a lot of what is taught in the fastlane as you are still trading time for money. Time is your most valuable asset as you can't get it back. Also, you can't passively make money if you are an employee.

The best way to make f*ck you money is through entrepreneurship.


1m81ah.jpg
 
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Startup Steve

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MJ DeMarco has not considered high level specialisations and management skills as a standalone skills that can also be a way to make f*ck you money in a decade while spending like an average person.These skills can or cannot be entrepreneurial ventures . 50% of 1%tile income is earned by managers and supervisors and super specialist doctors. It becomes easier to become rich if we combine entrepreneurial , management and and specialised skills. I think that you can be financially free even without entrepreneurship if you have right jobs and skills.

Focus on the pattern of "trepreneurship" given your current employment situation.
When your tax status to your customer is 1099, or C2C you are considered an entrepreneur.
When your tax status to your customer is W2, you are considered an intrepreneur.
Often entrepreneur produces better outcomes for individuals because of how employment contracts and IRS code works. So work on being an intrapreneur till such time that you can be an entrepreneur.

For those that are W2 here is what you do.

Your goal is not to do what is in your job description despite what you think. Your goal is to help your peers, managers, and leadership achieve the outcomes by which THEY are measured.

Sit down with them and determine how they are measured. Be prepared for them not to know how they are measured, or how to articulated it if they do. It will take some discovery on your part to map this all out.

With a clear understanding of how they are measured. Do what you can to help them, and be sure to document and communicated that YOU were the one that facilitated the outcome.

Often in life, it is about people being made successful, not just projects.

Storytime...

I once had a client that thought they wanted me to use my technical skills in building something for him. When I arrived it was clear he did not have a command of a defined current state, an achievable future state mapped out to include change management, nor did he have the skills to articulate any of this to leadership.

We worked together on the playbook. I would literally meet 30 min prior to his leadership meeting where I would explain things, which he would then go into the next meeting and parrot what I had just come up with. Did he basically take all my work product ownership? You bet he did, and my consulting fees were paid for every month till I decided I no longer wanted to travel to Rochester, NY :) The resources I was able to acquire using this technique allowed me to do that things I wanted which increased my well-being tremendously.
 
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