December 24, 2020 | Millionaire
Apparently, wanting to become a millionaire instead of a billionaire is considered a revolutionary idea in tech. That's so crazy. Since when is being a millionaire is not enough? Just asking that out loud makes me cringe and understand how ridiculous of a statement it is. Talking about millions as if they were peanuts... when the odds are that with 99% certainty we will have to live with a standard salary. I was speaking to some people a few weeks ago and I was telling them the above. The same thing I tell to my best friend and we laugh our asses off: "I am such a modest guy, that I don't even want to become a billionaire. I just want to become a humble little millionaire. Heck, I'm so humble, that I'd be ok with $50k per month. Don't worry, I'll be ok.. Trust me.." They laughed. And many nodded and agreed with me. But others did not. One guy told me that he won't engage with an idea if it does not have the potential to become a unicorn. Respect. You are playing a different game. You want to go for the big bucks. But, no bullshit, this guy was in his mother's house. In his childhood bedroom. I could tell from the background. I'm not 100% sure, but I think I even saw a teddy bear on a shelf. This fixation on billionaires makes no sense. And none of them "planned out" to become a billionaire like young startup founders are encouraged and advised to. Even if you want to become a billionaire, the best way is to first become a millionaire, gain your freedom while learning valuable skills, and then start doing crazy shit. When you flip your goals from the billions to the millions, all your aspirations and plans become a lot more actionable and realistic. A lot easier to hit. But regardless of if you want to become a millionaire or billionaire.. Why do we want to achieve these arbitrary goals? - Is it because we have primates with ten fingers and we like round numbers that are multiples of ten? Look at all those zeros.. So satisfying. - Is it for the money? I sat down about two weeks ago and wrote down exactly what I'd spend if I was a millionaire. Not a lot... Around $2k per month. To reach $3k per month I would have to get creative. - Is it for the fame? Maybe. But even with tiny, tiny, tiny following, I have realized that no one gives a fuck about you. For example, do you really care about Brad Pit? If he is caught cheating or something, do you lose sleep over it? Of course not! You don't care about Brad Pit. You have your own problems to care about. - What is it for then? For me, freedom. I believe that some millionaires are more free than any billionaire. Then again, some people making $20k/month are more free than some millionaires. And then again, monks make nothing and are completely free. The amount of money does not make you free. It's your income minus your burn rate ratio. It's how much money you have set aside. It's how much you enjoy your work. It's how bad your worst case scenario is. For example, if you have so much money aside you can afford not working for ten years, even if your business failed tomorrow and you started making $0/mo, that's manageable. And even after those ten years, let's say you were unable to make a single dollar, you are qualified to just find another job. How can you be afraid if your worst case scenario is having a ten year buffer period and then all you have to do is find another job? So, I should stop thinking about revenue, and start thinking about all of the above combined. Although I like the idea of becoming a millionaire in the next 5 years, if I do it right, by building a sustainable, self serving lifestyle business, I can achieve freedom without having to become one.