0:02 you're not going to get rich renting out
0:05 your time but you say that you will get
0:07 rich by giving society what it wants but
0:10 does not yet know how to get at scale
0:13 that's right so essentially I could we
0:15 talked about before money is IO use from
0:17 society saying you did something good in
0:20 the past now here's something that we
0:22 owe you for the future and so society
0:25 will pay you for creating things that it
0:28 wants but society doesn't yet know how
0:30 to create those things because if it did
0:32 it wouldn't need you they would already
0:34 be stamped out big time almost
0:36 everything is in your house and your
0:38 workplace and on the street used to be
0:40 technology at one point in time at the
0:42 time when oil was technology that made
0:44 JD rockefeller rich there's a time when
0:46 cars were technology that made Henry
0:49 Ford rich so technology is just a set of
0:51 things as Alan Kay said that don't quite
0:53 work yet once something works is no
0:56 longer technology so society always
0:58 wants new things and if you want to be
1:01 wealthy you want to figure out which one
1:03 of those things you can provide for
1:05 society that it does not yet know how to
1:08 get but it will want that's natural to
1:09 you and within your skill set within
1:11 your capabilities and then you have to
1:13 figure out to scale it because if you
1:14 just build one of it that's not enough
1:16 you gotta build thousands or hundreds of
1:17 thousands or millions through billions
1:20 of them so everybody can have one Steve
1:22 Jobs and his team of course figured out
1:24 that society would want smartphones
1:26 computer in their pocket that had all
1:28 the phone capability times a hundred and
1:30 be easy to use so they figured out how
1:32 to build that and then they figured out
1:34 how to scale it and they figured out how
1:36 to get one into every first full of
1:37 citizens pocket and eventually every
1:39 third full citizen to and so because of
1:41 that they're handsomely rewarded an
1:43 Apple is the most valuable company in
1:46 the world the way I tried to put it was
1:49 that the entrepreneurs job is to try to
1:52 bring the high end to the mass market it
1:54 starts as high-end first it starts with
1:57 an act of creativity first you created
1:59 just because you want it you want it and
2:01 you know how to build it and you need it
2:03 and so you build it for yourself then
2:05 you figure out how to get it to other
2:06 people and then for a little while which
2:08 people have it like for example rich
2:10 people had chauffeurs and then they had
2:13 black town cars and then uber came along
2:13 and everyone
2:15 private driver it was available to
2:17 everybody and now you can even see Ober
2:18 pools that are replacing shuttle buses
2:20 because it's more convenient and then
2:22 you get scooters which are even further
2:24 down market of that so you're right it's
2:26 about distributing what rich people used
2:28 to have to everybody but the
2:29 entrepreneurs job starts even before
2:32 that which is creation entrepreneurship
2:34 is essentially an act of creating
2:36 something new from scratch predicting
2:38 the society will want it and then
2:39 figuring out how to scale it and get it
2:41 to everybody in a profitable way in a self-sustaining
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