YouSaid · the spoken record

James Altucher

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87
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2014-07-11
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2014-07-11
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  1. “Oh, oh, and my podcast. So the James Alchister show, where you can find my interview with the one and only Tim Ferris. And I have a daily podcast called Ask Out the Church.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  2. “Sure. So Jamesalture.com is where I blog, A-L-T-U-C-H-E-R.com. And at J Altacher on Twitter, I do a Q&A every Thursday from 3.30 to 4.30 Eastern Standard Time or hundreds of people ask me any question they want and I answer and I've been doing that for four years. I've answered probably 10,000 questions. The power of no is coming out July 15th. If you pre-order it and you can go to order it, go to power of no.us and Claudia and I are giving three free gifts out. So I encourage you to get those gifts before July 15th or if it's after July 15th. I don't know actually when this podcast is coming out. So power of Noah is a book I would highly recommend and choose yourself, my last book, is a book I would highly recommend. So that's where”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  3. “And I want to tell you one tiny story, which was it was real difficult for me to reach out and say, hey, we should, in both cases, because you've been on my podcast and I've been on your podcast, it's really difficult for me to ask things. And so you've been like an experiment for me, actually, asking you to come on my podcast and then asking, hey, I'll go on your podcast as well. You'll read about that in my next book after the power of no.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  4. “This is like a bucket list item. I've loved Pad Thai all my life. And then I stopped it because of you, because I went on this low carb diet. I can't have pad Thai anymore. But in Thailand, they make it just right. I promise you, you don't even have that many carbs in it here. It's like they do it just perfect.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  5. “Great site. And, you know, then it's just sort of random after that. There's not that many, you know, if Tucker, we have a mutual friend, Tucker Max, if he writes a new article, I know it's always going to be crazy. So I'll read that. And there's not much else online I'll read.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  6. “That's a hard question because I don't really use Twitter because I don't read news. Twitter's a great place to curate news. So if I did read news, I would use Twitter and follow the people who I trusted to show me good news items. So I don't really use Twitter for anything. You know, like I said, I follow your blog. Oh, you know, I follow Maria Papova's blog, brainthinking.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  7. “I like, and these are all from the 90s also, but the HBO used to do these really good documentaries. There's this one called High on Crack Street. The producer is John Albert, very beautiful about, it makes it seem like all I do is read and watch stuff about drug addicts. It was very beautiful. And then I like poop dreams, which is the basketball, you know, followed these two kids up in their basketball dreams. I don't watch documentaries as much. I like comedian, the Jerry Seinfeld documentary when he went back on the road doing stand-up after his run at Seinfeld. I really love that documentary. Those are three”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  8. “I wish I had as much trouble as Brad Pitt writing a book called How to Pick Up Girls. So, honestly, it's a sinful thing, but I just wish I looked better.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  9. “This sounds kind of corny, but probably Led Zeppelin, probably the Wu Tang clan, which is like rap in the 90s, Eminem, you know, iced tea. I like a lot of his stuff because he combines sort of metal and wrap. I don't know, all classic rock, a lot of stuff from the 70s, but pretty much anything. I really like all forms of music. I'll listen to country. I'll listen to gospel. I like gospel that has a beat to it. I listen to anything.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  10. “Yeah, I don't listen to any music while I'm writing for the simple reason that I don't think it's possible or it's difficult for me at least to multitask in any way. So what I'm listening to music, I really like to listen to it. And when I'm writing, I really like to write. I really like almost every form of music, like from classic rock to heavy metal to rap. I like all forms of rap. I was just over my buddy iced tea's house doing a podcast with him. So I like all forms of rap from classic rap to rap that came out yesterday.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  11. “I guarantee you, if you even read a chapter or two of that story or two in that book, you'll feel inspired to write something about yourself.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  12. “Yeah, and he's never, his real name is never mentioned in the book. It's all interconnected short stories about this one drug addict and how he deals with it. And it's just, the writing is so beautiful and amazing. And it's a very thin book. I remember when the book came out, the day the book came out, it was in the early 90s, like 92 or 93. And I was so excited because I had read the books. I read the stories in like obscure literary magazines and now they were coming together as a collection. And I still, I probably, I didn't read it today, but I read from it yesterday.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  13. “Okay, other than my own books, because that would be, I've given my own books as gifts. I really like this one collection of short stories by this guy Dennis Johnson, a D-N-I-S-1S, and it's called Jesus' Son. There was a movie made about it. And it's a beautiful collection of short stories about this total drug addict. And I would say, first off, I would say I probably read it 300 times, this collection of short stories. And then I was reading an interview with Chuck Planik, I think you say his last name. He or Fight Club. And he said that the one book he's read 300 times is this collection of short stories. So”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  14. “Nobody comes to mind. I don't like the word success because success sort of implies, like people say, how do you be successful? It sort of implies at some point they weren't successful and that at some point in the future they're going to be if they apply some method. I don't like to outsource my success to the future. Like right now is where when I think of success, I think of me because right now I'm exactly where I want to be. So there can't be any other success other than that because tomorrow who knows. So today, this moment I'm successful. So me, I'm the first person who comes to mind.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  15. “I have to tell you, this is one of the reasons I had to outsource my email is I was getting, and I'm sure you get, dozens of emails like that a day. And there's nothing I can do. But I would feel bad for these people and I wouldn't want to write huge emails responding like what I would do because I like to write for a large audience and not just one person. So I couldn't look at these emails anymore. But I was getting a lot of them. This is what's happening across the economy.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  16. “Sure, you've seen it a lot with the feedback you get from all your books, but particularly the four hour work week, people want people now. I bet you at first people wanted that lifestyle. Now people have to learn that lifestyle.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  17. “Not just people outsourcing secretaries, it's companies like the major accounting firms, law firms, businesses, outsourcing, you know, vice president level employees to temp agencies because they don't want to deal anymore with having employees because of whether it's too much risk if the economy goes down or too much risk with changing regulations. Nobody wants to deal with it anymore. And once these guys are outsourced to an employment agency, their salaries are going to go down, their benefits are going to go down. We're still in this period where it hasn't been quite totally unveiled what's happening. But I think actually it's a bad trend in employment where you have to recreate yourself in a four-hour workweek sort of way. You have to find your own way to build a business along the lines of the four-hour work week in order to”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  18. “If you're paid $200,000 and you're fired, or if you're paid $40,000 and you're fired, company has an extra $40,000. They actually have more than that because they don't have to pay your insurance. They don't have to pay for your computer, your desk space, all these things that they bake into your salary. So what happens is, so why is the unemployment rate then going down is that all of these people are getting not quite fired anymore, but demoted. So they're getting outsourced to employment agencies. And you'll see, you go to like a manpower or Kelly services or even CRS, the company I'm on the board of. And again, this is public information. You look at the rise in their revenues and compare that to the rise in revenues of other companies in the stock market. There's no comparison. over the past five years three 400 percent in revenues because it's”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  19. “Loyalty at all, corporations simply just fired everybody they could and everybody else had to work extra hours. And then you would think, okay, well, it's gotten a little better since then, hasn't it? Like unemployment has gone down and the stock market is at an all-time high. So it must have gotten better. And the answer is yes and no. Innovation is still happening in the economy. Like there are tech companies that are growing. The gatekeepers are going away. And by gatekeepers, I mean, you can self-publish a book or you could get a car ride without using a taxi by using Uber. There's all sorts of ways in which in the internet is improving the quality of our lives. But at the same time, the reason the stock market is at a high is because everybody got fired. So companies became enormously more profitable and the stock market is rolled by profits and dividend streams. So if companies are”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  20. “Right. So I'll qualify that what I'm saying has nothing to do with the company I'm on the board of because their information is private. But just what I'm seeing in general is that, and this is often publicly available information about this company and similar ones, is that essentially the middle class is slowly being fired or demoted from their jobs. And it's a horrible thing, but we kind of went through a hundred years of not capitalism, but corporatism. This idea that the corporation is going to take us from cradle to grave, from the time we leave high school or college to the time we retire, the corporation will take care of us. And then in 2008, the tide came in and we saw that this simply wasn't true. Like the corporations started firing everybody. They went into a panic. There was no...”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  21. “Is no good for them in some cases. For me, I didn't know. And so I would say yes to it. So you have to build discernment too. And we discussed that in the book a little bit, how you do that.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  22. “I don't believe in that philosophy, even at any point in your career. You should always focus on your own health today. Every tomorrow is determined by what you do today. So saying yes to something you don't want to do will only give you a bad tomorrow. So I only say yes. As long as I'm not harming anybody, I only say yes to things that are good for me today because I know then that I'll have a good tomorrow. Now this doesn't mean I don't say this in a callous way. Like if somebody needs help, I don't say no because I always say no to people. But, you know, I make sure everything's, nobody's dying or nobody's, you know, suffering. And then I decide I use my own discernment to say, is this good for me? Is this fun for me or will this really help me along? And if it doesn't, then I definitely don't say yes to it. But some people don't know what to say. They don't know that TV.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  23. “Now, fortunately, I learned to say no, and I think I did meet the love of my life, or I got married again previously divorced. But I think there's a big danger to saying, yes, simply because of the opportunity cost of time. Every yes has to be treated with a lot more attention even than no. You can't make it easy for yourself to say yes because you'll lose too much time, too much opportunity cost.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  24. “I've been through that where, oh, you're supposed to always say yes to get opportunities. But the reality is there's a huge opportunity cost to saying yes. And I don't know how Richard Branson did it. I don't quite believe he always said yes to things. I don't know. But there's a huge opportunity cost of saying yes. Let's say you go on a date and you kind of like the girl, but you're not sure, but you end up in a relationship because you kept saying yes. Well, now the opportunity cost is you might miss out on meeting the love of your life if you had just stayed at home that night instead of going out on that second date. So this has probably happened to me as well.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  25. “Yeah, so I've been through this where, for instance, I had a policy always say yes whenever TV channel would ask me to come on because I wanted to go on TV. And so CNBC would always ask me to go on, even at a moment's notice, and I would put on a sports coat and I say, okay, I'll be right there. And I don't think it ever really did anything for me or my career or anything. And it was never fun. They always, I don't have to talk about CNBC in particular, but TV and TV news in general. It was never fun for me to go on. But I would always feel like, okay, if more people see me out there, then this is a good thing. But much better for me would have been to say no, and let's say start a business or write a book or do something that actually was creative instead of just a talking head on TV.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  26. “I'm not saying you should say yes or no because it all depends on the situation. But let's say you do say yes to that person, suddenly you've just inherited all of their problems. So they had some problems that led them to the point where they had to ask you, can you lend me $1,000? And now those problems are your problems once you say yes to them. So you have to decide what problems do I want to have. And most of the time, I don't want to have other people's problems. So it's not like I say no to everyone. I say yes to my friends a lot. And I say yes to opportunities when they seem interesting, particularly relating to the things that I'm interested in. But I always make sure that I'm not inheriting problems that are too big for me.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  27. “And also important to realize, let's take the basic example, someone says, Tim, I need $1,000. I'm in a bad situation. Can you lend it to me? And I promise I'll pay you back. If you say yes to that person,”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  28. “So, you learn the situations where you need to say no before you actually learn how to say no. And then it just becomes practice. You practice until you get to the point where you say no without an explanation.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  29. “themselves they'll be very kind to other people but they're very hard on themselves and so that's why they open up every email they return every email they want to be nice to everybody and they feel if they're mean and I've been like this so that's why I'm able to say this so they feel if they're what's called mean or difficult to one person then that's going to reflect poorly on them and one person's going to hate me and that that will be bad for me so so what you're really practicing is not necessarily saying no but practicing that you have to be kind to yourself and you have to build up discernment through all these aspects of health like you know physical emotional mental spiritual you have to use this will teach you discernment of boy this person is wasting my time or invading my boundaries this is a situation where i need to say no”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  30. “Or ask for advice on how to deal with situations important. So you can always delay people and say, let me think about this while you ask for help. And then you can do no with an explanation. I'm not going to do this, but I can help you in these other ways, or I can recommend you to other people. Or you could say, I just, and this requires practice, you could just say, no, I don't think this is appropriate at this time, but that requires practice. So the important thing is there's no quick and easy answer where I'm all of a sudden I'm going to be able to say no. So the real key is understanding when you need to say no. And that, again, is this function of health and also kind of learning not only compassion for others, but compassion for yourself. So a lot of people don't live what I would call, let's say, a gentle life. So they are very”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  31. “It's a good word that you use, which is practice because it doesn't happen overnight. If someone calls you up and say, oh, can you, we haven't seen each other in five years, can you really help me out and lend me $1,000? It's hard to say, you know, just hang up the phone or say no, and that's it. I think people go through waves where first you can say, you know, let me think about it. And then you can ask other people for help. What should I do here? So no, at this point, you know, like I said before, you've surrounded yourselves. You're the average of the five people you've surrounded yourself with. So you go to these five people and say, oh, so-and-so ask me for something. No, but I don't quite know how to say it. So you ask for help from others. And one thing we say in this book is that while no is the most important word, help is the second most important word. And not being afraid to ask for help.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  32. “Makes me healthy and happy and peaceful. Happy is a bad word because happy is related to the word happenstance, which is some outcome outside of yourself. So I prefer to become and peaceful even rather than happy.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  33. “What a waste of like all of that hard work and energy to make two billion and just to use it to complain about a guy who made $18 billion. So money tends to, it doesn't, some people say money magnifies your bad qualities. It doesn't necessarily magnify your bad qualities. It magnifies all of your qualities. So good qualities, bad qualities, and so on. So the key is we all have bad qualities and good qualities. The key is for me is to keep working on the good qualities and trying to starve the bad qualities because I have that tendency. I have a very addictive personality. I have that tendency. Like, oh my gosh, I've got to make more. I've got to please people more. I've got to impress people more. And a lot of times I'll equate self-worth with net worth. And so I have to starve that quality in myself and again focus on the things that”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  34. “No, Mike. Okay, Mike, we're going to go on Mike. So Mike, who's a very famous guy who's worth about $2 billion, runs a huge private equity fund, very well known. This guy was telling me the whole breakfast, he was complaining. And what was he complaining about? How is this kid, Larry Page, worth $18 billion and I'm only worth $2 billion? Like he was complaining the whole breakfast.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  35. “I'll tell you one quick story. So I was having breakfast with someone who also was incredibly wealthy, but he was telling me about the breakfast he had the day before with a guy who was worth about $2 billion. Let's call this guy the guy was worth $2 billion. Let's call him”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  36. “And so maybe some people are like, oh, I got to go say hello to the ocean, you know, as soon as they get to a beach. I'm just not like that. So I like to read, write, you know, talk to people sometimes. And I know that if I had infinitely more money, I know for a fact. When I had more money, or it's hard to say more, but at times when I wasn't healthy with myself, having more money only made me want to have more money. So I always felt like envious of the next level and getting healthy made me realize, you know what, this is good. Like I'm in a really good spot and I'm going to focus on the things I love because again I could die tomorrow. I have to do the things I enjoy today.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  37. “Yeah, I think some money makes a big difference. So you want to be able to pay your bills and you want to have some sense of freedom. But everybody defines that in a different way. So as a great example, Mark Cuban, who seems like a great, happy guy, and I've interviewed him on my podcast, for him, I think, freedom is the ability to buy the Dallas Mavericks and a plane and do all sorts of fun things. It seems to me that guy has a really fun life and he seems to be enjoying it. And he worked really hard for it. As he said to me on my podcast, he had a passion for to be rich. And he got there. So for me, I have different passions. And having here I am in Thailand. And it seems like it's such a stupid thing. But I just, again, I wasn't even exaggerating. I'm literally 10 feet.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  38. “Popular keywords. So, anyway, they changed their name to Applied Semantics. They got bought by Google for 1% of Google. They became AdSense. So they became what is 99% of Google's revenues. And it would have been $1 million would have turned into $500 million. And we all have examples like that. I have a dozen examples where I miss out on huge opportunities. But at the same time, I'm happy with the opportunities I did take and the things that I'm working on now. So I do have businesses I'm involved with now. And, you know, that's it. Now I say no to everything else. I really enjoy trying to figure out how I can be creative today. And I've outsourced my investing. We both know we both have a mutual friend with Kamal Ravikant and he is well connected and silly.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  39. “Today, the rest will follow. Like, I don't have to plan out 10 years from now whether or not I could, you know, things are going to, I don't know, I might be dead 10 years from now. Who knows? But I know today I'm going to enjoy it if I write and spend time with Claudia and do the things that I enjoy doing. Now, what if the next Uber ends up in my inbox and it's not forwarded onto me, which it's not going to be? I'm going to miss out on it. I've missed out on a ton of opportunities. I'll tell you what I was a venture capitalist. There was a company called, I was at the time was called Oingo. They were going bankrupt. I could have probably bought 50% of the company for a million or two million dollars. My venture capital fund was much greater than that. And we decided not to. They were kind of in the search engine business where they would help rank how people are using keywords. Like one of the most”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  40. “It's very difficult because sometimes some things seem so appealing that you're like, how can I say no to this? But at the same time, I know that if I just stick to what makes me healthy and so being creative is, like you say, it's getting into that flow. That flow is real physically. Like it's endorphins that rush into your brain and make you healthier. It's like runner's high. And I know that money is a side effect of being very healthy, being creative, being innovative, being around good people. Lead to abundance, lead to money, lead to wealth. And so I know if I just focus on what's important to me.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  41. “And I didn't think she would mind. Like, normally I would take it. So I took it down immediately. And normally when a family member is asking me to take stuff down, I take it down immediately and I try never to say anything bad about anybody. It's actually the stuff I've said bad about myself that has embarrassed family members like my relative is a moron. So I'm never going to talk to him again.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  42. “No, she's so young. She's not allowed on Facebook yet. So she was really horrified because she really does read my stuff. Like, it's so sweet. I see it on her nightstand. Like she's got truce yourself. She's got a galley of the power of no. She's got the choose yourself stories, which I've not even really marketed or anything. I just kind of threw out there. And so she's got all my books. Like she reads my stuff. But she got really worried. There was one case, like maybe the parent of one of her friends would see it. So she was upset.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  43. “Yes, so I start off all my blog posts as Facebook posts because it's a way to kind of test out if a blog post might have legs. And so I wrote about one of my daughters and I say, I wrote about one of my daughters farting so loudly, I asked her if she had sharded. And so the other daughter writes me, one in the morning. And she's like, Daddy, you have to take that post down like the other daughter's crying about it. And the other daughter is like started saying, I don't know what I could say around you and trust you anymore. And I said, I promise I will never say anything embarrassing about you ever again.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  44. “Everybody in my family got really embarrassed about me. So it's not like I talk to all of them. Like I send out Thanksgiving invitations to all of them, but nobody responds to me and my family because of my, only because of my block. I've never done anything to anybody, but because of my blog, basically my daughters talked to me and Claudia talks to me. And that's about it. And even my daughters once had a problem with me and I had to really make up for it.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  45. “Yeah, unless it's my daughter's Archaudia, I don't really talk to, you know, here is the one problem with being vulnerable not to tell us. I've never really said this before. This is the one problem of being vulnerable is that, and I'm assuming most of my family is not going to listen to this podcast because they avoid anything I'm involved in. But they really were embarrassed that I was admitting all of this stuff.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  46. “Well, the most important being is can you advise my startup? So, I don't respond to any of those because I'm not interested anymore. I'm already an advisor and a lot of startups and I'm an investor in a lot of startups. I really love what I do. I love writing and I love podcasting and being creative. So I'm just not interested in business stuff anymore. And I ignore almost all of those. I mean, again, if it's somebody from a company that I'm already involved with, that'll get forwarded to me. If it's somebody who appears to know me, and you can usually tell that in an email, they'll forward that on. If it's a family member, they ignore it and don't send it to me.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  47. “And the reason India, by the way, is because let's say someone writes me a really personal letter. It's not like they're going to some random person in Calcutta is going to know me enough and figure, oh, I got some juicy gossip on James. I basically have trained a group of people. What type of emails to send to me and what type of emails to ignore? And I'm sure they ignore, they don't even tell me the numbers. And I don't look. I'm sure they ignore hundreds of emails. And they'll send to me something like, if somebody wants me to speak at an event, or if somebody wants to talk about a company I'm involved with, or if it's from a group of friends and they know who to respond to. So in general, And they might make mistakes. I don't know, but in general, I don't read my email”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  48. “Well, you know, it's an interesting thing because just like I don't like to read news, I normally don't like to read emails. I like to read only good books. And so I've actually outsourced most of my email reading to India.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  49. “When they ask, like, I have to say no, and their relationship with me might change because they asked something that was inappropriate. They didn't respect my time enough. So I don't give explanations anymore. And I tell them, and when I catch myself, when I start giving explanations like, oh, I'm sorry, I can't make it. I have a doctor's appointment that day. I'm really sick. I broke my leg over the weekend or something. So I just say I can't do it. I hope everything is well. By the way, even when I say I hope everything is well, I don't lie there either. I try to make, if I don't legitimately hope everything is well, I don't say that. But usually I hope everything is well with the other person.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT

  50. “But the person you do know where, like, you know, it's an old friend or someone you haven't seen in a while, but you didn't used to say no to them. And they write to you, here's what I do. I just say back and I say I can. Now it used to be I would write, I can't because I'm out of town that day. I might lie or I can't because I'm out of town that day and I'm telling the truth. So I used to give explanations. Why do I have to give an explanation? Like it should be the case that my time is very valuable to me. Maybe not necessarily to anybody else. People always say, oh, it doesn't hurt to ask, but it actually does potentially hurt both sides of the equation to ask. So it's just as much hurts them as it hurts me.”

    2014-07-11 · The Tim Ferriss Show · Ep. 18: James Altucher on Saying No, Failing Better, Business Building, and More · IDENTIFIED FROM THE TRANSCRIPT