Advice for young people: Learn about money | Alex Gladstein and Lex Fridman
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- čas přidán 17. 10. 2021
- Lex Fridman Podcast full episode: • Alex Gladstein: Bitcoi...
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Alex Gladstein is the Chief Strategy Officer at the Human Rights Foundation and the Oslo Freedom Forum.
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I think you should make a playlist called "Advice for young people" and put all of these clips there.
Yes 👍🏼
@6:30 I find it hilarious how Alex was describing the unanimous support for the Iraq war and goes on to list Hillary Clinton and Joe Biden as examples of politicians he thinks you might be surprised to hear supported war
There is one mate
Definitely
Put it on cassette tape!
This guy was straight to the point no bull shit. No waste of words
It's infuriating that grade schools don't have personal finance courses as a requirement before graduation-and no, 'home economics' does not cut it at all. A VAST majority of crime and suffering in society revolve around money or people's financial illiteracy. Robbery, theft, homelessness, addiction, domestic violence-literally almost everything is influenced by money or lack of it. But public schools do not prepare children to be financially literate at. all.
Roth vs traditional IRA, investment strategies, good vs bad debt, the importance of keeping a good credit score, how bad credit influences loans and interest rates, etc. Its such basic knowledge that I had to go out and learn/research on my own online after I graduated college. If money is the root of most of our problems, why aren't these things drilled into the brains of young people before they leave high school? How much human suffering could be avoided by just doing this?
It's like sex. We feel awkward and uneasy to talk about those things openly for some psychological reasons I presume.
Okay--- who controls the money in the world? Do they have to play by the same rules that an American family has to play by?
Because they lack the faith in themselves to earn their wealth. People are afraid of making money, because they are afraid they won’t be able to. And so they don’t.
@@democratssuck8610 You're assuming we all grow up with parents who have this knowledge. What if you were raised poor in the inner cities and your parents lack the knowledge? My parents immigrated to the US when they were 30 years old and speak poor english so they didn't even know-I'm in my mid 20s now and I still had to teach THEM.
What happens then? Allow these families to continue to be financially unprepared generation after generation until one of their children learns about it online?
Human suffering is profitable that's why
I am so grateful to hear voices like these that have a voice that is thought provoking and individual. So rare in today. Interesting that communication has become so prolific however the medium is so bland and uniform. Love hearing some free thinkers.
Hello, Team Lex.
I will apreciate if you bring us english subtitles or open English transcript. Those aren't available from here for my deaf family member.
We are grateful for the quality of your work. Greatings from Chile.
One of the best advices I’ve heard on this show. Our modern world revolves around money, whether you like it or not.
Okay. What is money?
What is the basic economic exchange?
Most valuable things.. are not things.
Like: your given time on this planet.. so I woud say: spending time and saving moment of happiness with loving people.
@@JsusCrisis Your time. Good guess. Your trust. In God We Trust. LOVE is God.
Money is not God.
Hidden secrets of money is an excellent series on CZcams that explains money (or currency) in the modern world
It really is. I picked up you're money or your life and I'm not gonna lie. It's firstly amazing. Because it's so simple to understand. And then it makes you furious. Because ot's so simple a high schooler can understand it so why isn't it a book you're required to read in high school? They wouldn't even need to actually implement the steps in the book. Just have it in the brain because it teach what is money and ways for you to change you're relation ship with it so you can make a living and not a dying.
"Taliban are going to take over again" couldn't have aged better.
How did it age, the talk was a few hours ago, its still a baby
yeah can u explain? was this filmed a few months ago? Even the original podcast was posted on the 17th oct 21
@@user-ls5pg2wd4i In the introduction Lex explains that the pod was recorded months ago but the audio was lost. Apparently he got the audio back somehow
I grew up in the era of Home Ec. It taught me nothing about money. Nor did my parents. You did not talk about money in those days or anything else, for that matter. So, I learned about finances by experience and life lessons.
I had a checking account at 6 or 7. I remember it was hard to sign my name the same way each time I signed a check.
Ready for a mic drop moment? The teachers don’t know personal finance either.
Keep it up!
Hi, lex have a question or questions for you. Have you looked into bankers/courts, trusts, hard currency, paper money, bonds, securitys, and last but not least the bankers wars through out history?
One thing I would tell my younger self would be to start investing early and often, and understand general finance.
Why is the auto generated caption in Vietnamese although I am living in Russia and using English as a primary everyday language on the internet, any ideas?
Lol this guy just red pilled lex on Iraq and Libya
as a libyan I'll just say only foreigners and extremists deluded themselves as to what libya could be post qaddafi.
@AJ what do you mean?
@@Jcastillo0125 qaddafi was awful,make no mistake, but he kept the extremists in check. Hence the surge in fundamentalists. Additionally, the most capable (with regards to military power,not leadership) person that came out of the revolution was Hiftar, who helped Qaddafi in the coup of 69'. Little aside, no clue how hiftar was allowed to live in america for so long when he was a known militia leader who aided in the coup.
@@AJ-pc9gu hmm interesting… thanks for the insight
Nah. He blue pilled him. Used a lot of lefty talking points.
Low this guy so refreshing thank you
Learning about money is only one thing we need to do. Its not going to solve the issues with society.
Recommend you get Warren Mosler who is the key founder of Modern Monetary Theory on. He knows money and monetary operations better than most. Or Stephanie Kelton who is the leading mainstream voice of MMT now.
I was glad to have taken a personal finance course in high school but I think it should be a requirement and not an elective. Even if you major in business, most people don't understand finance and economics, they only know how to get a job in those fields. I stil remember my accounting manager that took all his money out of his 401K after the great recession. Robert Kiyosaki's books started my journey towards financial freedom.
Unfortunately a lot of institutions dont teach the fundamentals in a practical way as to how money works, how to earn it while remaining ethical, how to start a business, and how to keep it running. Hell economics class in my High School was one of the most useless classes i've ever taken I learned absolutely nothing, and neither did anyone else.
Lex have any of your guests touched on the fact that we were protecting the poppy fields in Afghanistan to sell the opium to big pharma ? A huge factor in the global movement of money and power was the opium addiction and crisis in america that was manufactured by big companies behind the scenes, and a huge part of that was the US military protecting the poppy fields in the middle east.
Exactly. Most people attribute any outcome all to one single reason as if most things aren't very complex. Poppy fields have huge impact on us going over there. This guy is a Bitcoin guy so all he sees everything through the lense of his favorite fiat
Stay out of debt , avoid car leases, contribute to your Roth IRA, and learn skills people are willing to pay you good money for .
“Mo Money Mo Problems”
Realest shit
It's the opposite. Having lots of money makes life a lot easier.
8:30. I was expecting an anti-American burn the flag rant, but that was a really good point and I agree wholeheartedly. You should be proud of your country and origin, but the wars in the middle East was a shitshow. So unnecessary and wrong. Let's move away from the Petrodollar and remove Saudi Arabia's power.
Another way to think of pride is that you may be proud of good things you have done and you do not have to be ashamed of bad things done by your country out of your control. There is no inherited sin, we are only responsible for our own deeds.
Yes, the greed excercised by politicians destroying the Middle East to control the world economy through oil is awful.
But you drive a car and depend on oil, don't you?
@@destructionman1 You can still do it without waging a war in the middle east and without the petrodollar.
If you wanna know what money is, I'd start with Mike Maloney's "Hidden Secrets of money" Episode #4. And then just keep learning.
The best advice - learn to live without borrowing! Banks are unpredictable.
Debt and leverage are how the rich get richer. Poor people can’t even take out debt. It’s just what you do with the debt.
@@jacksonbarry8210 it was a great and useful option in my days - now the financial sector is too volatile and will get worse, digital money ‘coins’ and new means of benefit is going to destabilise the economy … the freedom of ‘debt free’ cannot be ignored during this transitional financial phase …. 2008 was only the beginning. Stability will only return once a universal digital currency is agree upon.
@@jacksonbarry8210 besides ‘rich debt’ and ‘poor debt’ have different backing and recovery options.
it is so hilarious the think tanks we have working hard on overcomplicating the concept of not having money.
The Kakeibo record system saved me.
Hi Andrea, would you kindly elaborate on it? I think I saw a book in my library
What is money?
Petrodollar is so freaking crazy.
When I figured that system out, I shocked for like 3 days
What is crazy about pricing oil in dollars? It has little to do with people wanting dollars. People can/need to buy/sell oil in dollars guess what else they can do? They can also exchange currency for dollars. lol Petrodollar omg!
It's a crime that high school or college doesn't have mandatory Excel classes. Everyone has to deal with numbers eventually be it, wages, taxes, mortgages or investing and anyone can learn to build a fairly complex financial model for personal or professional reasons within one freakin' semester. I just do not know why this isn't stressed enough; well, both of my daughters will be sufficient in excel regardless of the field they choose to study.
I think coding will become a necessity in the future but maybe that is just me living my privileged life studying comp. sci. lol
a lot of high school teachers I met are not the best at managing their own finances lol
Plus there is a lot of politics in the public education sector
@@surfingtothestars but that's even better, then you can fix the HS teachers personal finance and the kids personal finance at the same time
I don't know how to process
Where does one learn about money?
It's no accident finance isn't taught in public schools. Wall Street owns the scholastic publishers. What a coincidence. Keeping you dumb and fleeced. Actually more high schools now have finance class. But I question the details.
That and a forensically detailed explanation of Capitalism was written in the mid 1800's that would be hard to 'gloss' over in the curriculum; penned up by a bloke, by the name K.Marx.
Adam Smith would have a mention as well. But people might look then to his foundation work 'Moral Sentiments' and we wouldn't want kids coming out of school with those.
I keep seeing this ridiculous claim. Do you think wall street brokers and bankers are personally bribing school boards to stop classes from being created. On top of that even they did they would have to wait 7 years before their fleeced students entered the economy.
@@Austin25254 No. Wall Street is smarter. WS owns publishers and lobbyist shaping laws.Curriculum is questionable, student loans until death, etc. Only 37 states require finance class at local level. Most districts cannot afford it. Cash strapped public schools push college as a way to avoid costly improvements. Enter Wall Street.
but if everyone learns about money who will become the mindless debt-slave consumer-worker?
“We can force Saudi and other oil producers to sell the oil in USD”. And this guy says that you have to understand how money works…
Money is meant to be spent not saved, that’s how the Great Depression happened because the Majority of Stocks weren’t being bought or invested
Wish I understood money earlier
One advise for him… let other people talk and stop interrupting
What scares me is most Americans have no clue of history from a monetary perspective
Rulers...keeping it honest
"I hope technology can outpace the darker sides of human nature", too. Very well said. Thank you.
Aeneas Blockchain (ASH coin) = NFT + POS MINING 💵💯🚀
Home Ec... home economics... every school had it.
I think most schools have it, but it's not an elective you are forced to take.
Home economics in high school was mostly making a cake, learning to stitch by hand, and ironing clothes....
Learning about money and finances was given by my Army JROTC program, though the learning about money was given specifically to seniors.
Not in my school
Why so you can influence it in a meaningfully way that doesn't mean yea need to be rich just not broke ass living in the gutter poor were yea really can't influence anything unless yea want waste a few years of your life...
Thought knowledge was worth more?
@@SmoothInvestigatorYou're dumb asking that.
Sounds like this guy owns a lot of bitcoin🤔
We’ll it’s probably worked out well for him🧐
hes MIT but infj thats a strange combination so hes an engingeeer........................... but he cares about the progress and mentality of society.
there was WMD's in iraq
Lex is going Rusian?
oy vey
Money is a representation of debt, Fiat money is a tax credit. Has nothing to do with petrol. Oil is priced in dollars because of an agreement to price oil in dollars. Advice for young people, do not learn about money here, yeesh!
Mass financial illiteracy (and mass lack of access to money) is a necessary condition for capitalism to function.
Oi vey
Gold is money.. easy peezy
LOL paid in permissionless money that losses its value by 50% a year and has done so over and over again. Super bro. Giving a kid an unstable fake currency. What a joke.
not gonna make it
Bitcoin is the best performing asset still over the last ten years. Better than gold, stocks, bonds, etc.