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Learn the key ideas of the book by Nathan Latka

How to Be a Capitalist Without Any Capital

The 4 rules to follow to get rich

What’s the secret behind the luxurious lives of the New Rich? How do some very young people, who don’t come from a wealthy family, manage to afford holidays in luxury hotels, sports cars, and designer clothes? The answer is an explosive mix of sharing economy and unconventional investment methods. Nathan Latka, a young American entrepreneur who became a millionaire in less than a decade, shares the tricks he used to achieve success in his book How to Be a Capitalist Without Any Capital: The Four Rules You Must Break to Get Rich, so that you too, can follow in his footsteps.

How to Be a Capitalist Without Any Capital
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The rules you were taught are wrong. To become one of the New Rich, you need to start breaking them

Over the last ten years, the world has changed drastically: advances in technology and digitalisation have accelerated the emergence of social and economic developments, and therefore many of the precepts on which we base our habits have become unrecognisable, obsolete, or useless. In this changing landscape, the concepts of wealth and success, and the ways to achieve them, have also changed. However, one problem remains: we continue to learn the same rules to get rich and succeed, despite the fact that these rules clearly stopped working long ago.

The fact is, that there is a new set rules, which are more relevant to this new world, and those who understand them, and know how to get off the beaten track, will manage to be more successful, more easily, and in less time, than everyone else: that's why, when you look around, and quickly scan social media, you come across a new group of people who seem to be able to live like millionaires, despite not coming from large family fortunes or decades of working in prestigious positions; on the contrary, many of them are very young, sometimes they left school before graduating, and they have never even crossed the threshold of an office to sit down at a desk. 

There is no mystery surrounding how they were able to achieve all this: they are part of the so-called New Rich, a generation that has distanced itself from traditional rules to embrace new ones, taking advantage of the opportunities presented by the current economic era in which we find ourselves. Put like this, it may well seem to be a complex undertaking, the result of advanced calculations and planning, and perhaps even of economic deprivation, but the reality is quite the opposite: once you have changed your mindset and found the courage to take the leap and exploit the advantages offered by this new economic and social landscape, a virtuous circle is set in motion that will take you to ever greater heights. The great news is that you don't need mind-boggling investments or huge assets behind you to set this cycle in motion: if you play your cards right, you can live like a millionaire even if you only have a few thousand - or even only hundreds – of euros, in the bank.

After all, one of the most incredible trends in life is also one of the simplest: in English we say, “fake it until you make it”, so, if you live and behave like a millionaire, others will start to treat you as such and, gradually, you will find that you have more opportunities than ever before, and that you will be well on your way to becoming a millionaire yourself.

Obviously, just pretending to be a millionaire will not suffice to enter the ranks of the New Rich - you also need to develop a strategy and take specific action, so as to create a huge change in your life by means of a small investment. Thanks to his position as host of the podcast, The Top Entrepreneurs, the author has had the opportunity to interview and discover the secrets behind the best minds currently involved in business, as well as members of the New Rich. He has studied their success stories closely, discovering recurring patterns in their journeys to becoming millionaires.

This has led him to conclude that there are some common traits within the stories of many of the New Rich and successful entrepreneurs: these are individuals who have been successful at exploiting the sharing economy and social relationships in order to achieve their economic and lifestyle goals; their investment methods are unusual and unconventional; they create, acquire, and sell companies at the right times; but, more importantly still, they have been courageous enough to break the four rules that we continue to be taught, despite the fact they are no longer relevant, or  have even become obsolete.

  

The key ideas of "How to Be a Capitalist Without Any Capital"

01.
The rules you were taught are wrong. To become one of the New Rich, you need to start breaking them
02.
To become rich, it is important to increase the number of projects you’re involved in and diversify your income
03.
Copying is entirely legal, and even recommended, if you want to get rich quickly
04.
The New Rich create systems rather than focusing on specific goals
05.
We must learn not to be dazzled by trends but to "sell pickaxes to gold miners"
06.
Exploit the sharing economy and live frugally to raise the capital you need to become a millionaire
07.
Buying and selling small companies is the best way to get rich quickly
08.
Quotes
09.
Take-home message
 
 
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