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Why some people FAIL and others SUCCEED | An Economic Principle that Changed my Life
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- čas přidán 7. 08. 2024
- The first 1,000 people to use the link will get a 1 month free trial of Skillshare: skl.sh/samuelbosch09221
This is how some people become so incredibly successful at whatever they do!
▬ In this video ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
In this video, I talk about how compound interest - an economics term - is the reason why some people become so much more "successful" in certain aspects than others. Sometimes, it may seem crazy how someone managed to achieve so much in a certain area, making it look impossible to catch up. But in reality, they just use the principle of compound interest to their advantage. Essentially, this means "success leads to success". Once you become good at something, it is enough to continue being consistently good, in order to achieve more and more success over time. One great job leads to another. One promotion leads to another. In this video, I talk about how you can apply these principles in your life through consistency and hard work, to get on the same trajectory towards success!
▬ Watch this next ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
Video about understanding math intuitively: • How to Understand Math...
Video about memorization techniques: • Best Study Method if Y...
Video about problem solving strategies: • The Ultimate Problem-S...
▬ Follow me for more tips ▬▬▬▬▬▬▬▬▬▬▬▬▬▬
Instagram: / samuel.bosch
LinkedIn: / samuel-bosch
TikTok: / boschsamuel
▬ Timestamps ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
0:00 - Intro
2:04 - Compound interest
3:33 - How I started investing into myself
5:46 - Productivity and self-improvement
6:30 - Why consistency is so important
7:34 - Sponsored Ad
8:29 - How to develop good habits?
10:00 - Outro
Hey I rarely leave comments like this, but I just wanna let you know that I absolutely love your channel! I'm currently a final year student at Cambridge studying ML but I started off here in sciences, intending to do physics. I'm also pretty into running and gym. It's nice to see CZcamsrs with a similar background and personality to me, but who clearly know what they're doing more than I do haha! I just hope you know you're helping loads of people with your videos and to keep up the good work 💛
Thank you 😊 I really appreciate your comment, and wish you best of luck at Cambridge!!!
What is ML? Machine Learning?
@@UberBossPure yes
I also loved the final part of your video where you explain that you'll hit the gym no matter what. Reminds me of my travels, especially to South America (I am in Germany). I always manage to find a cheap gym wherever I stay and go there several times while I stay in one place. I understand your mindset. It's really a great way to succeed.
That's the right mindset 💪💪💪
Great video. I might call it legendary actually because great is an overused word but this truly defines it.
Im thankful for this reminder, always looking up to you, although Im having my exam this week. Still watching videos of yours during my break. HOPE I really able to achieve as much achievemnt as you have..! Well said discipline and effective routine is a road to success 👍
Thank you Adrian, best of luck to you 🙂
The first 1,000 people to use the link will get a 1 month free trial of Skillshare: skl.sh/samuelbosch12222
Why is your channel so darn good, now because of you I started building my secret laboratory. Smh I just wanted yo be fat and lazy, now I'm working out and doing lots of math, darn you Samuel Bosch !!!! 😡 😤 and now I have to like this video.
Great video! Not a boring invest and compound interest. This is the way I approach life also. After finishing my studies as an engineer I would pursue a career in the industry. Du Maschine hey!
Great video!
loved this video bro
Glad you enjoyed it :)
You are a huge inspiration, simply a wonderful mind. Thank you for presenting yourself online.
You’re very welcome 😉
Hi Samuel!
I am a hungarian undergrad who just got admitted to my masters at ETH Zürich. I am very thrilled, but my concept of success is still forming. I am currently doing research, but I think a financial freedom and moreover a startup or a company might be a better suit for me. Anyways thanks for all the motivation and tips and keep up the good content! Much love
Luckily a masters degree is short, and ETH is great, so you can surely do a startup quite soon 😊
This is a great lecture on programming one’s mindset, forms of human capital, stagnation v. relevance, time management, and personal promotion & investment. Now if we can get that fashion and fitness video life will be so much better. Thank you for everything.
You’re very welcome, Armand 🙂
Great video. Also wanted to let you know that I found your channel through word of mouth. Keep up the great work.
Awesome, thank you! 🙂
Very motivating and useful!! Let’s go😉 I still have to define the priority …gym, Italien etc
💪💪💪🙂
My academic goals aren't good grades or good test scores. It's to master and understand math and physics deeply. And to be knowledgeable on philosophy to ask better questions and think critically in the age of social media.
The big picture is to understand the world better. And my ultimate dream (notice how it says dream and not goal) is to help advance human civilization by putting man on mars or invent something that will impact the lives of many people.
But how do I do that? How do I get started? What university should I go to? How do I meet people who has similar ambitions?
These are great and ambitious goals. Good grades should never be the ultimate goal. They are just a tool to achieving what you want to achieve. I recommend hanging out with equally ambitious people, and trying to get a job/internship at a company/organization going in that direction 🙂
@Shimmy Shai There are ambitious people everywhere. I certainly grew up far away from such a place, but over the years started surrounding myself with more and more ambitious people
As always great 😊🙏
Thank you Arne 🙂
Hi Sam I am Jamshid from Uzbekistan I am 21 years old and I am working right now to gather some money for my studies. I am a dispatcher for a trucking company and I really want to study financial engineering. I am planning to go to university of bologna this year to start my undergraduate. Last week I finished pre calculus and starting calculus as I really need math in my field.
Hi Samuel, as always loved the vid! I noticed on your website that apart from just doing masters at EPFL, you’ve done tons of „visiting student” research all around the world even during your bachelors. Could you perhaps make a video about the whole process? Personally I’m really curious how did you organise it, especially since too EU universities like TUM or ETHZ afaik only allow 1 for the whole bachelors and 1 for masters. Thank you, and keep up with the amazing content!!!
I usually went over the summer. And also I did a lot of my research in a gap year 🙂
So in a nutshell, have discipline, enjoy solving problems, have goals (mini and main goals) and just move on.
Agreed.
Most people fail because they procrastinate, are overwhelmed by problems, have 0 goals and never move on.
Does this mean that success can be difficult? Yes. But is it worth it? Yes.
Lastly, is the mindset, where I grew up it's like the bunnies from Zootopia, nothing has started and people assume everything is going to fail. It's tough to be surrounded by negative people, it's a big psychology of how I deal with it. I was the scapegoat of this place where I live, and the best thing that saved me is my knowledge of the sciences, and me believing in myself. Because, if you think you can't and never do it, you'll never know how you'll perform - you may fail or you may succeed but for me, knowing the result is winning enough, better than never participating at all. Life filled with regret is probably the worst thing ever.
my favorate youtuber, i like your videos bro
Thank you so much 😀
Paying it Forward is a compounding investment...Help others who in return help many others...It really works...Good Luck To All
My dream is to gain respect from my family and friends and enemies.
Very good video can you make more videos about studymethods and productivity ist soo nice
I definitely will 🙂
Hi Samuel! Thanks for the great vid!
You once said doing a PhD in a top university in the US is better than do it in Germany, but already having a masters degree, what do you think of the fact it usually takes a few years more to get a PhD in the US due to the courses included in the program? Is it still worth it if you take 2 or 3 years more? It seems to me this extra time could mitigate the compound interest effect in what you can achieve in your life
Yes, 100% worth it IF you get into a top university in the US. It may take a bit longer, but the extra time you spend there usually isn't lost at all. For example, if you get a PhD from TUM and want to become a professor, you (in the best case) can only do so after several years of post docs. But with a PhD from MIT you can often become a professor at a top university directly, saving you a lot of time. Similar principles apply to other jobs.
But again, this is true only if you get into a TOP US university. Otherwise, Germany may be the better option
I ddidn't really get the details of the economic principle,
But what i understood the point would be to not hesitate to invaste a lot, at least 20% of one's energy, to get the best results over time.
I want to : "write a book, be a succesful artist, build shows, be a theorician in physics and maths, be an imagineer (and more...)"
It's hard to me to know where to invest first, i feel i would like to do everything at once
Short term: Join a top 100 university for a PhD in quantum hardware.
Long term: I want to join the workforce and work on quantum computing hardware to develop practical QCs
Hey, I am 17 years old, I really enjoyed the part when you talked about getting good at one thing first, do you think it is ok to learn both ML and Game development(for simulation) at the same time?
Absolutely 🙂 they go hand in hand!
1:18 Mine is to start a space solar farm company because I don't see any other scalable renewable resource for energy.
And outside the academic and professional life, my goal is to make the education system unbiased, creative, and widely available to unfortunate children for free
For example, we are taught science in a third-person perspective, I want it instead to be taught in a first-person perspective so that it is not newton's laws of motion but rather my laws of motion that I observed, postulated, and confirmed practically!
This is really really hard, but what this would do to the world I can't even imagine. I'm trying to write a book just with that first-person perspective and I'm loving it...
Could you make a video about funding opportunities and scholarships that help you pay for unis like Harvard or MIT? That would be great!
I am not interested in success, but I love working and learning with wonderful persons. I don’t like mean and horrible people. That’s why I study so hard as I know it will change my environment and then I can stay with great people who has a good heart and respect others.
I don’t know what will happen next. Just do what I can do now, try my best, and I know lord will make the best plan for me. That’s how and what he did for me before.
Great video!
How do I become Giga Chad problem-solver like you? My current plan goes like this:
1) learn probability / statistics / combinatorics
2) learn how to model and optimize systems like a Quant
3) perfect my algorithmic knowledge and coding skills
4) learn discrete math for advanced algos and calculus for optimization
Do you have some advice?
Thank you 🙂 I think these are really good and strategic steps to achieving your goals. Math algorithms and probabilities are surely one of the most useful skills you can acquire. Especially if you want to become a quant (or anything similar in another sector) 🙂
I want to found my own company, or work in the field of consulting. I am currently studying computer science with some economics in the first semester, but I don't know if I should switch to studying only business administration to achieve my goals. What do you guys think? How can I achieve my goals more likely?
I wish to be as fit and smart as you
I don’t mind not doing a start up or not attending MIT lol
🔥🔥🔥
Another great video. I want to become a data scientist as part of my path to achieving financial freedom.
Thank you Mohammad, and best of luck 🙂
Superb tips !
Bro could u help me with - how to be a freelancer/ remote working professional & get prepared as a construction design engineer when we haven't seen site work practically but can design nicely on software's like autocad & revit so what's the best way to learn when consultant companies are preferring already experienced candidates ? How to prove our worth when the market is not ready to entertain freshers mostly.. Are there any best books to start our journey by learning insightful lessons frm it..
I want to get into a good job to then create something big or help others create something big to leave an indent in the world :)
That’s a great goal, Cristian! 😊
yeah I also want to have PHD from MIT,Cambridge, Oxford and Harvard. And contribute in Physics and mathematics
Luv u bro u r great❤️👍
Thank you 😊
@@SamuelBoschMIT Bro where are you from and can i be friend with you on instagram or Facebook 🤝
@@MitsukiY10 You can follow me on INstagram :)
@@SamuelBoschMIT ok bro but reply to my texts please when i send to you😊
We need a nutrition vid!
Soon, soon 🙂
Some indian mutual funds have 20 25 % annualized returns over 25 years, but inflation here is 6 % but sill not bad
Interesting!
i want to pass of my maths and economic exams and do my postgrad at MIT
Hi Samuel, you‘re such an amazing and pioneering person! By watching your videos, I was inspired to work as hard as possible school-wise in order to get into a prestigious university such as Oxford, Cambridge or Harvard.
Your videos are awesome!
PS: I love your accent.
Thank you! Really appreciate it, and glad you're enjoying my videos 🙂
It's probably cheesy but I would like to found my own start-up and with the money I gain from the start-up I want to do my Ph.D. in physics at Boston.
That's great! Btw PhD's are usually paid positions, so you don't really need any savings to start :)
I thought I would hate this video , I thought it was going to be some shallow definition of success (maybe the thumbnail played it's role). But it is not at all what I thought of. I was biased against you samuel (even though I am a subscriber). It is a thoughful video , and not at all a swallow - sucess recipe. . Great work really
Thank you Olivia 🙂 Yeah, thumbnails on CZcams always have to be a bit “annoying” and silly to get people to watch. Otherwise it doesn’t really work well hahahaa
I want to succeed in academics and eventually go to graduate school at MIT.
I want to work in oil industry like there are some machines in the middle of ocean that extracts oil from deep sea
🙂
In academics want to represent India in IPHO & IOI. In professional want to have a ai company that could solve many difficult problems.
Great and really ambitious goals! Best of luck!!!
academic : want to score high in jee advanced
professional : want to become a quant researcher in jane street
I have a long list of things to achieve or do in my life. But at this moment, I am preparing for Government Job exams.
Best of luck with the exams! 🙂
I want to be a Block Chain Developer that takes part in the Development of Bitcoin and its Decentralization.
I want a world where we have a Money that works for the People and not for the 1 %
I want to study to make an IT company and I want to be able to teach children from younger age of practical computer science and to inspire them to learn from young age. When I was young I wasted my opportunities and potential because I was playing video games and smoking weed. I thought studying is boring and now I regret this, I wish more people have the chance to find their passion from younger, so they don't have to wander in life aimlessly.
I think this is an amazing goal 🙂 you might find my video about life principles to succeed really interesting!
Software engineer in S tier firm
💻💪😊
I want to become a general Manager at a big corporation
Great! :)
High ROI? Hire me 🎉
Great video as usual. Once you actually implemented a long lasting habit (e.g. fitness) you will realise that nothing can stop you. You are your habits 💪
Exactly 🙂💪
IIT MADRAS COMPUTER SCIENCE
i what to join the great Family MIT
20% ROI on your equity = invest in Real Estate
Real estate is a great investment if you do it smartly 🙂
you should make a discord server!
I’ve been thinking about it, but not yet sure what I could do with it 🙂
@@SamuelBoschMIT You could use it for q&a stuff
Hello samuel, Hussein from physics olympiad 2014, still awaiting your reply
Heyy Hussein, great to hear from you 😊 Sorry if I missed your message(s) somewhere. I'm drowning in messages since a few months ago, so I don't read most of them :(
@@SamuelBoschMIT I understand 😮💨 must be overwhelming. How do I call/chat you up, would really love to catch up.
Why are you not responding to my inquiries?
Probably didn’t see it amongst hundreds of messages :)
I want to have excellent grades in the uni so I can do my masters in a top one.
Best of luck to you Antonio :)
This is a example.
If no one gets work after 500 years then the prime Minister would give money to everyone per family & non family 1.printing the money or 2.generate it from the bank's online money generator or 3.printing a note whose value would be 5billion that note only for the Prime Minister Will deposit money in Prime Minister's bank account money will come it will be transfer to everyone's bank account.
the prime minister would say
those who are farmers
You will get more money.
Online and offline payment is good.
Better economic
Better world
Be the voice of Iran
#MahsaAmini
I don’t talk about politics in my videos, but full support your message!
@@SamuelBoschMIT Thanks for your attention, Samuel. This is about basic human rights, not politics. The government has cut down the internet in Iran. They do not have any voices to stop this genocide. Many young women and men are dying in the streets. Supporting and doing something will definitely reduce the death rate.
Hola:-)
Hello :)
Hello @SamuelBoschMIT, this time I have to partly disagree with you!
There are some people that should do whatever they want to do at the very moment...
Those people are hypersensitive and get often wrongly diagnosed with ADHD, just like it happened to me, and as far as I can tell also you!
Please look up the following Video: "You're Not Lazy: How to Live a Chaotically Organised Life
Good for u.. N u all dead for me
Can someone just summarise it
It's just 10 minutes hahaahahah
Basically samuel talks about the importance of consistency. Similar to investing in stocks we can invest in ourselves by building good- and correcting bad habits. Over time the habits we build compound on each other and can lead to long term benefits that ultimately aid us on our journey to achieve success (however you might define the term "success"). Further expanding on the stock market analogy, building strong habits vs doing "the bare minimum", as samuel says, can be compared to an investment with a high interest rate versus an investment with a low interest rate. Ultimately results can differ significantly.