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Give Society What It Doesn't Know How to Get | Naval | YouTubeToText
YouTube Transcript: Give Society What It Doesn't Know How to Get
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you're not going to get rich renting out
your time but you say that you will get
rich by giving society what it wants but
does not yet know how to get at scale
that's right so essentially I could we
talked about before money is IO use from
society saying you did something good in
the past now here's something that we
owe you for the future and so society
will pay you for creating things that it
wants but society doesn't yet know how
to create those things because if it did
it wouldn't need you they would already
be stamped out big time almost
everything is in your house and your
workplace and on the street used to be
technology at one point in time at the
time when oil was technology that made
JD rockefeller rich there's a time when
cars were technology that made Henry
Ford rich so technology is just a set of
things as Alan Kay said that don't quite
work yet once something works is no
longer technology so society always
wants new things and if you want to be
wealthy you want to figure out which one
of those things you can provide for
society that it does not yet know how to
get but it will want that's natural to
you and within your skill set within
your capabilities and then you have to
figure out to scale it because if you
just build one of it that's not enough
you gotta build thousands or hundreds of
thousands or millions through billions
of them so everybody can have one Steve
Jobs and his team of course figured out
that society would want smartphones
computer in their pocket that had all
the phone capability times a hundred and
be easy to use so they figured out how
to build that and then they figured out
how to scale it and they figured out how
to get one into every first full of
citizens pocket and eventually every
third full citizen to and so because of
that they're handsomely rewarded an
Apple is the most valuable company in
the world the way I tried to put it was
that the entrepreneurs job is to try to
bring the high end to the mass market it
starts as high-end first it starts with
an act of creativity first you created
just because you want it you want it and
you know how to build it and you need it
and so you build it for yourself then
you figure out how to get it to other
people and then for a little while which
people have it like for example rich
people had chauffeurs and then they had
black town cars and then uber came along
and everyone
private driver it was available to
everybody and now you can even see Ober
pools that are replacing shuttle buses
because it's more convenient and then
you get scooters which are even further
down market of that so you're right it's
about distributing what rich people used
to have to everybody but the
entrepreneurs job starts even before
that which is creation entrepreneurship
is essentially an act of creating
something new from scratch predicting
the society will want it and then
figuring out how to scale it and get it
to everybody in a profitable way in a self-sustaining
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