It's Important to REMEMBER the One Percent RULE! - James Altucher Live Motivation

James Altucher
Author of bestselling book ‘Choose Yourself’ 📖
Investor 💸 Entrepreneur 🧠 & host of ’The James Altucher Show!’ 📽🎞
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First 5 Minutes of Automated Transcript:
00:00
welcome to today's q a
00:03
robin how's it going we're in brand new
00:04
chairs by the way what kind of chairs
00:05
are these
00:06
i have no idea but i feel like we can't
00:09
like
00:09
be so close you can't be so close to me
00:12
i know
00:13
but you you're compelled or you don't
00:15
want to be i smell
00:17
you took a shower took my first shower
00:19
of the week yeah
00:20
so hello everybody uh feel feel feel
00:23
free to ask
00:24
questions at any point you can ask them
00:26
here if i but i might not see them
00:28
you could also text me at 203-590-8607
00:34
and i will see those i want to talk
00:36
about
00:37
uh how to start up an online newsletter
00:41
what
00:41
i've already discussed this before but
00:43
what maybe best practices are for such a
00:46
thing
00:46
and um but i also want to
00:50
just remind everybody that
00:54
and you know right now things
00:57
feel weird right because we we sort of
01:00
have this urge
01:01
that we want we want things to go back
01:03
to normal and then they told us
01:05
oh well it's not going to go back to
01:06
normal it's a new normal
01:08
and then they say well it's going to be
01:09
like a new normal but
01:11
50 of businesses will be out of business
01:14
but what i want to remind everybody is
01:17
that
01:18
there's not going to be a new normal
01:20
normal
01:21
first off normal wasn't so good right to
01:24
begin with
01:25
i mean here's what happened in the
01:27
normal world 100 million people
01:29
worked corporate jobs and one out of
01:32
three of them
01:33
were laid off within a month of the
01:36
lockdown
01:37
like you could argue and i'll argue this
01:40
the american economy
01:41
was doing the best it had ever done
01:44
in february of 2021 that was the best
01:46
month ever for the american economy
01:49
but is it really that great if one out
01:52
of three americans
01:53
within a few weeks a few days
01:56
of the government shutting down the
01:58
economy one out of three americans were
02:00
laid off
02:02
i don't know i don't know if that's a
02:04
good a good or a bad thing
02:06
because were were companies that
02:09
insecure had that little cash that they
02:11
just had to fire everybody immediately
02:13
and the answer is
02:14
yes i mean the average restaurant only
02:17
had 16 days of cash
02:19
in the bank right now yelp is saying
02:21
approximately 40 or 50 percent
02:23
of their of their clients their
02:25
restaurants and other stores
02:27
are already out of business uh so we
02:30
were fragile
02:31
yeah the economy the economy was fragile
02:34
and
02:35
like that's a really good point and i i
02:37
i think i've done this before but let's
02:39
let's go over naseem to leb for a second
02:42
so the same delay i don't know you could
02:45
have different opinions about him
02:47
i don't care and you could have even
02:49
different opinions about his books his
02:50
books are
02:51
all over the place he actually recently
02:52
published another book um but
02:55
i want to go over the titles of his
02:57
books because
02:58
if you if all you know is the titles
03:02
of naseem telev's books then you don't
03:04
have to
03:05
read them because his books are about
03:07
the economy
03:08
and making decisions on investing and
03:10
stuff forget about all that
03:12
but i'm interested in how do i make
03:14
decisions for myself
03:15
so right now i see
03:19
on twitter all the time everyone's and
03:22
on facebook too
03:23
everyone's arguing arguing rv i'll give
03:26
you an example
03:27
two days ago on facebook a new
03:31
private face group started which was uh
03:33
i forget the name of it but was
03:35
it was for people who are thinking of or
03:38
about to move out of new york city
03:39
and so this has been a big debate in new
03:41
york city which is
03:43
you know just on monday there were 11
03:45
killings in shootings whatever
03:47
there's never used to be killings in new
03:48
york city new york city was safe
03:50
and nobody seems to care and
03:53
it's not in the news like if you go to
03:55
cnn it won't be on the news
03:56
i don't know why there was a shooting
03:58
just right down the street from our
03:59
apartment yesterday
04:01
oh good good good to hear i was just
04:02
shooting right down the street from our
04:04
apartment
04:04
um what what do you know the block well
04:07
it wasn't right down but it was 109th
04:09
street i think and columbus all right so
04:12
right near
04:12
so basically right next door to columbia

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