Chapter
Leaving a legacy
56:14 - 1:01:29 (05:14)
The idea of leaving a legacy is based on a flawed premise: the belief that our actions in the present will continue to have influence in the future. Winners win because of who they are, and time will inevitably tax our money to infinity.
Clips
The host uses the analogy of playing poker in a casino to explain the cycle of success and failure in life, where accumulating wealth is not the end of the game but only a temporary victory.
56:14 - 57:09 (00:54)
Summary
The host uses the analogy of playing poker in a casino to explain the cycle of success and failure in life, where accumulating wealth is not the end of the game but only a temporary victory.
ChapterLeaving a legacy
EpisodeAlex Hormozi On Becoming A Millionaire, Quieting Your Ego & Forgetting About Legacy EP 1278
PodcastThe School of Greatness
This podcast clip discusses how the idea of leaving a legacy for future generations is an illusion, as time and taxes ultimately erode any wealth passed down.
57:10 - 58:40 (01:30)
Summary
This podcast clip discusses how the idea of leaving a legacy for future generations is an illusion, as time and taxes ultimately erode any wealth passed down.
ChapterLeaving a legacy
EpisodeAlex Hormozi On Becoming A Millionaire, Quieting Your Ego & Forgetting About Legacy EP 1278
PodcastThe School of Greatness
The implementation of a 100% death tax on a game's wealthy players could potentially change the way the game is played, as the players' strategies and beliefs may shift due to the inevitable outcome.
58:40 - 1:00:13 (01:33)
Summary
The implementation of a 100% death tax on a game's wealthy players could potentially change the way the game is played, as the players' strategies and beliefs may shift due to the inevitable outcome.
ChapterLeaving a legacy
EpisodeAlex Hormozi On Becoming A Millionaire, Quieting Your Ego & Forgetting About Legacy EP 1278
PodcastThe School of Greatness
Private enterprises allocate capital 10 times more efficiently than the government, according to Elon Musk.
1:00:13 - 1:01:29 (01:16)
Summary
Private enterprises allocate capital 10 times more efficiently than the government, according to Elon Musk. With social enterprise ownership before death, there will be an increase in ingenuity and innovation and less dumping of billing to the government.