- Joined
- Apr 14, 2022
- Messages
- 141
Rep Bank
$680
$680
User Power: 126%
I recently bought The E-Myth Revisited yesterday and I haven't opened the wrapping yet. However, I have a feeling that this book would give me another perspective of what money actually is, and I want to write this thread as a way to journal my mindset shifts, and to see if anybody else can disagree because I don't even know if my view is correct or not.
When I look at a paper of money, that's what I see it is. A mere piece of paper. But I can exchange this paper for food, water and shelter, so my first thought that money are just food coupons. But is that true? So I thought, how did we come up with this tool in the first place?
Let's imagine a small village in an isolated area. In this village one specializes in farming, the other in shoemaking and the other in house building, etc. Now let's look at the shoemaker. He already possesses the assets and skills to make shoes, which required more work to set up than to give himself a pair of shoes afterwards. But if he has a friend who wants a pair of shoes, the shoemaker only needs a little bit more work to produce the second pair of shoes for that friend. To return that slight extra work, the friend gives back enough food to feed that shoemaker for a few more days.
If we can assume it's the same with every other non-food professions, then we can say food has become the currency in this small village. However, food is heavy to carry. So the village solves the problem by reserving their food in one place and rely on "you owe your food there", and later using coupons to numerically measure food. So money is just a food coupon... Right? What if we imagine another village located near a forest with lots of pickable fruits?
Fast forward to today, we have advanced farms in some countries that can produce lots of food with minimal work. That means in these countries, the value of food is inflated. So what exactly has money become? I think I can come up with another answer: Money are just brain-labor coupons that allow a collective teamwork between millions of people that help make ambitions come true for more people.
This is why when someone says "but I'm born into an Indian slum! I can't get rich because the economy here is crap!" I'll reply with: Start by being a good friend to others and listen to them, know what their ambitions are and their chosen route to that, and then help them in some way that makes their journey faster or less painful/tiring.
I understand that most people in third world countries don't even have more than $10 to give in return. And that's okay, because they can pay back using something much more valuable than money: their time and problem-solving labor. That's not slavery, that's barter.
Now for the case when your goal IS the paper money, I'd say use their time and labor to produce something for you that you can sell to the rich who have lots of paper money.
"Business is not about money. It’s about making dreams come true for others and for yourself."
- Derek Sivers
What do you guys think? I will appreciate it if you disagree with me.
When I look at a paper of money, that's what I see it is. A mere piece of paper. But I can exchange this paper for food, water and shelter, so my first thought that money are just food coupons. But is that true? So I thought, how did we come up with this tool in the first place?
Let's imagine a small village in an isolated area. In this village one specializes in farming, the other in shoemaking and the other in house building, etc. Now let's look at the shoemaker. He already possesses the assets and skills to make shoes, which required more work to set up than to give himself a pair of shoes afterwards. But if he has a friend who wants a pair of shoes, the shoemaker only needs a little bit more work to produce the second pair of shoes for that friend. To return that slight extra work, the friend gives back enough food to feed that shoemaker for a few more days.
If we can assume it's the same with every other non-food professions, then we can say food has become the currency in this small village. However, food is heavy to carry. So the village solves the problem by reserving their food in one place and rely on "you owe your food there", and later using coupons to numerically measure food. So money is just a food coupon... Right? What if we imagine another village located near a forest with lots of pickable fruits?
Fast forward to today, we have advanced farms in some countries that can produce lots of food with minimal work. That means in these countries, the value of food is inflated. So what exactly has money become? I think I can come up with another answer: Money are just brain-labor coupons that allow a collective teamwork between millions of people that help make ambitions come true for more people.
This is why when someone says "but I'm born into an Indian slum! I can't get rich because the economy here is crap!" I'll reply with: Start by being a good friend to others and listen to them, know what their ambitions are and their chosen route to that, and then help them in some way that makes their journey faster or less painful/tiring.
I understand that most people in third world countries don't even have more than $10 to give in return. And that's okay, because they can pay back using something much more valuable than money: their time and problem-solving labor. That's not slavery, that's barter.
Now for the case when your goal IS the paper money, I'd say use their time and labor to produce something for you that you can sell to the rich who have lots of paper money.
"Business is not about money. It’s about making dreams come true for others and for yourself."
- Derek Sivers
What do you guys think? I will appreciate it if you disagree with me.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
