Billionaire advice t

month ago, a young tech bro's favorite billionaire, Paul Graham, did a talk at Oxford. This talk was literally called "How to Earn a Billion Dollars" and it was aimed at future prime ministers. Only 400 people can fit in the Oxford debating chamber, and not everyone has the spare time to read his essays, so I'm gonna break it down for you. For context, Paul Graham and three other founders founded this thing called Y Combinator. YC is the world's most successful startup accelerator, and the valuation of its portfolio companies exceed $1.3 trillion. So when Paul gives billionaire advice, listen. In this talk, Paul is trying to argue that billionaires are not bad cheats that somehow cheat the system. They are just a product of good ideas plus good math. Obviously, you need to start with a good idea. And he says that as young people, you should use that as your advantage and make products that solve your immediate problems. Because our issues and behaviors now are going to predict the mainstream demand in the long term. For example, Mark Zuckerberg and Facebook, you would have known that an app for Harvard students would end up being used globally. Now, the main point here is the math of exponential growth. Once you've got your good idea, all that's left to become a billionaire is growth rate and market size. He does some cool math equations in his essay, but basically, a startup with a $2 million net worth to begin with and a 93% every month growth rate will become worth $1 billion in just nine and a half months. Or a slightly easier aim would be to look at the five-year horizon where all you need is a 15% growth rate every month. Now, we're all probably thinking, yeah, that looks really easy on paper, but how on earth do I reach that amount of growth every single month consistently? Well, that's where market size comes into play. If you create a product that people will refer and share with their friends and share with everyone that they know, that's where exponential growth rate. That's how Facebook expanded being from just being for Harvard and that's how Amazon expanded from being a bookstore. So according to Paul, whether you want to be prime minister or a billionaire or both, all you need to know is that: 1. Fix a problem YOU face. 2. Make is shareable. 3. Exponential Growth Maths. And trust the maths, that's how people become billionaires. Politics x Business >> breakdowns