Scholars are Broke: 3 Secrets to the New Economy (Lil Pump Edition)

Remember all that stuff you learned in college? Time to throw it away. It’s a new economy with new rules.

If you’re reading this you’re probably a pretty smart person. You likely have a college degree, work experience, and an interest in reading.

In theory, that puts you ahead of 99% of the competition.

So if you’re in the 1%, why aren’t you rich like them?

It’s because when it comes to making massive amounts of money, none of that stuff really matters.

Successful people like Lil Pump have mastered the new age economy and the internet.

His net worth: $12,000,000

Not to mention he released his hit song “Gucci Gang” at age 16.

So he’s been rich for a while.

How did he do it?

Secret #1: Internet Leverage

Use the power of the internet.

There is no other time in history where you can create, upload, and potentially have millions of people viewing your content.

Once you generate a following, there are infinite ways to generate income.

The initial work to generate a following is the most difficult part.

It’s like making your first $10,000 or $100,000. Once you do it, things get easier thanks to compounding benefits.

The next rule will you help generate this following.

Secret #2: The “It” Factor

In my opinion, Lil Pump is not amazingly talented.

But he has “it” factor.

So how can you replicate this for yourself?

Take this for example:

A regular rapper making songs about money isn’t that interesting.

A pink-haired high schooler making songs about Gucci is interesting.

See the point?

A regular engineer writing about coding isn’t that interesting.

A ripped engineer writing about digital nomading is interesting.

Essentially, you need a twist.

A painting of a bear in a forest is okay.

A painting of a bear in a green suit surrounded by attractive women.

Pretty interesting.

You can practice this right now:

I am —

A [unique trait] [profession] [what you want to do to become rich] about [your niche].

Secret #3: Fast and Furious

Once you make millions of dollars, is stability really that important?

Lil Pump like many others will not have longevity in their careers.

Does it matter?

Not at all.

It’s actually advantageous to earn as much as you can and as young as you can thanks to the power of compound interest.

You can always invest or diversify your earnings in stable sources of passive income.

So if you’re a writer on Medium, don’t worry about every article making you $100 or whatever.

Focus on creating a following with one or two big hits and you’ll be well on your way.