Ryan Daniel Moran here.

Today we're gonna talk about why I disagree

with Peter Diamandis.

We'll talk about launching multiple products at one time.

We'll look at how you determine your life path,

and we'll look at a men's fitness company.

Play that intro music.

(electronic music)

This past December 500 entrepreneurs and capitalists

joined me in Austin, Texas for Freedom Fast Lane Live.

We had a great time.

It exceeded my expectations

and I think everybody's expectations,

and it was keynoted by Peter Diamandis, who I love.

I recommend you read all his stuff.

He's a phenomenal human being.

I liked him even more after meeting him in person,

but there was one particular topic

on which we very much disagree.

Let's watch that right now.

The question came up about mass automation

and will that destroy opportunity?

Will that create opportunity?

I believe, you correct me if I'm wrong,

but I believe I heard you bring up

the universal basic income as a possible solution.

- Anybody get my blog here in the audience?

Anybody? A few people.

So today's blog is on universal basic income,

and it's not a matter of if.

It's a matter of when, right?

There have been number of experiments done.

The basic concept is that, first of all,

we're worried about robots and AIs taking our job

for a number of reasons.

One, we might love our job,

but 70% of Americans hate their job, by the way,

just to be clear. (audience member chuckles)

And they don't stock boxes or clean toilets

because that's what they love to do.

And we are going to demonetize the cost of living.

When your health care and your education

is effectively free, delivered much better than ever before

by an AI, that cost goes to zero.

An autonomous car I said is five to 10 times

cheaper than owning a car.

If you've got VR and AR in autonomous cars,

you don't have to live in downtown Austin,

where it's more expensive.

You can live an hour away

and eat popcorn and watch movies on the way to work,

so where you live can be cheaper.

So we're gonna demonetize the cost of living substantially,

and the concept of universal basic income

is a function of

basically the idea where every single person

gets a guaranteed stipend to live on.

And the experiments that are done so far

point to the fact that, when you do that,

people actually use that money to improve themselves.

They don't become lazier.

- So Peter made the argument that it's not a matter

of if we will have a universal basic income.

It's a matter of when we will have a universal basic income.

I say that that's a bad idea.

Now, I did a video for this on capitalism.com,

and it went semi-viral.

It had tens of thousands of views

within a 24-hour period on the capitalism.com Facebook page.

Now, I'm gonna clarify something,

and I also wanna respond more to the point that Peter made

'cause I wanted to respect our time on stage,

and I didn't really feel like

we could go down a political rabbit hole there.

But there's basically two reasons

why I think the universal basic income is a bad idea.

The first is that it's completely unnecessary.

When you've got abundance,

especially the type of abundance

that Peter Diamandis believes we will have

in the next 30 years, which I hope happens.

I hope he is right,

but when you have that type of abundance,

what happens is that you have downward pressure

on prices of everything,

so you don't need to just give out money

when prices are plummeting.

If things are easy to get, they're cheap to get,

then you don't need to worry about dolling out cash

because basic provision of value,

somebody just putting a little bit into the economy

and getting any sort of an income

will cover most of their needs.

Look, we've seen this, history proves this.

History shows that cost of living plummets,

and the expectation of the standard of living

goes up over time.

We can look at history

and see the cost of living plummeting

and the real standard of living going way up

even compared to just 50 or 100 years ago.

That will continue,

especially if we have the type of abundance

that Peter believes will happen,

so we won't need more government stimulus.

We will need less government stimulus,

so the idea of a universal basic income

is essentially unnecessary.

Now, we could stop the conversation there,

but there's one more point

that I think is flawed in the argument for a UBI,

and that is that people argue

that if you give people their basic needs through a stipend,

through cash from the government,

that they'll suddenly become more creative

and more entrepreneurial.

The opposite is true, and here's why.

I believe that Robert Herjavec was right

when he spoke on our stage a year plus ago

when he said that, "Most of the entrepreneurs I know

"started a business because they were running from pain.

"They wanted a different type of life.

"They were running away from something."

If we remove that incentive,

what incentive is there to be creative?

Look, necessity is the reason why people become creative.

Having your basic needs met won't make them more creative.

It will remove the pain

that causes the creativity in the first place.

How many entrepreneurs do you know that are like,

"I was born with a silver spoon in my mouth

"and was really rich.

"That's why I'm successful"?

Versus how many people do you know who said,

"I started with nothing, and I grinded and I hustled

"until I was successful"?

I know about 50 of those to every one person who's like,

"Yeah, I was born successful, and I stayed successful."

I know a lot of people who were born into money

that did not become entrepreneurs

because they did not have any desire

or any need to create something new,

but I know a lot of people who started with nothing,

who were dirt poor and created something amazing

because of that.

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00:06:25,543 --> 00:06:27,051 - [Narrator] Alex Gilbert asks,

"Do you ever question your life path?"

- Since I am a successful entrepreneur,

I only question my life path about once or twice a day,

so I think I have the benefit

of questioning it less than most people.

Look, yes, of course, all the time I question

if I'm on the right path

because it's really easy to look at social media,

to look at other people who are successful and say,

"Ah, I shoulda done that.

"I shoulda done this."

Tim Ferriss actually has a great point about this

in The 4-Hour Workweek,

where he talks about when you come back

from either a vacation or a mini-retirement,

you look at somebody who just got some certification

or a six-figure job, it's really easy to measure success

based on someone else's standards.

It's really, really easy to do that.

It's so easy to be comparing ourselves to other people.

I do it.

I do it all the time.

I question my path almost on a daily basis.

If you were to see my journal,

it is just filled with me analyzing

what's going on, what's working, what's not working,

if I should change, if I should shut down Freedom Fast Lane,

if I should shut down my other businesses,

if I should just buy a nice house, sell my businesses,

sell my investments, and just live a nice, cushy lifestyle.

Of course, I think about it all the time.

Now, this is the fundamental flaw:

believing that there is an ideal life path.

That is where the fundamental flaw is.

There is no perfection.

There is no ideal place for you.

There is no God's plan for you.

There is no what the universe has for me.

It is what you create.

It's what you decide.

You are constantly creating your life path.

It is not predetermined for you,

so the only way that we can measure that

is through progress, not perfection.

So I look at what is the next best step for me

rather than saying,

"What is gonna create the perfect picture?"

and I fall into it.

I want the perfect relationship and the perfect business

and the perfect child and the things

that are gonna make everything cozy and perfect.

We all fall into that, but the reality is

there is no end point, there is no perfect path.

There is only progress.

So, if you have an idea of where you wanna go,

it's easy to compare ourselves to that picture,

to compare yourself to what I view in the world

as what is ideal,

and that's when you end up really depressed

and questioning everything you've ever decided.

And then there is comparing yourself to where you came from.

We were at our Christmas party a couple weeks ago.

We were sitting around with some of my team members,

and we were talking about where we were a year ago,

and it blew my mind all that had happened in the last year.

I had forgotten that certain initiatives we started

had only begun in the last year,

and that same day I had been questioning my life path,

feeling like I wasn't making any progress.

We only see the immediate problems in our lives.

We so rarely look at the progress we have made,

and the longer timeframe that you can analyze your progress

and the longer timeframe you can commit to something,

the more successful you will be and the happier you will be

because you have a more accurate picture

of the progress that is actually happening in your life

rather than comparing yourself

to the supposed immediate and overnight wins

that you see on the media and in social media,

so it's progress, not perfection.

- [Narrator] Adam Kubica asks,

"Do you focus on one product at a time,

"or can you promote many at the same time?"

- Theoretically, you could launch multiple products

at the same time.

I have seen people do it,

but I don't think it's a good idea.

Even in my businesses that are established,

that have 15 products and a list of 25,000 people,

people who have bought things from us in the past,

even businesses that I advise

that have hundreds of thousands of customers,

I vary rarely recommend

that they launch more than one product at the same time

because I'm yet to see an example

of someone doing it well.

It takes a good 30 to 90 days

to get a product into enough awareness

to where you have repeat customers

and you have your existing customers

coming back and buying the product that you launch.

So doing two at the same time