How To Improve Every Day & Harness The Power Of Ideas - James Altucher - #137

**Chris Williamson** (0:00)
Hi, humans, welcome back to Modern Wisdom. My guest today is none other than James Altucher, entrepreneur, writer, chess master, comedian, blogger, blah, blah. He's just a super interesting guy, and I absolutely loved having a conversation with him today. In the interests of today's conversation, which is all about how we can have more ideas in our lives, how we can experiment and test the waters with them, taking them from our brains to the real world, I'm going to try a little idea of my own, and today is going to be the first of a two-part episode. So today, we're going to get part one, and then on Thursday, you're going to get part two. Kind of just worked that way. I needed a bathroom break halfway through, and we stopped at around about the right time. So enjoy this. If you're new here, do not forget to hit the subscribe button. It would make me very happy indeed. But for now, please welcome the wise and wonderful James Altucher. Ladies and gentlemen, welcome back. James, hey man, welcome to the show.

**James Altucher** (1:19)
Chris, thanks for having me on the show. I'm so glad to be here. Isn't, aren't intros so awkward? Like you just know, you know, you never really know what to say and how to bring people in. I always have a hard time on podcasts with the intros.

**Chris Williamson** (1:32)
It is the single worst bit of the job. And I, you know, behind the curtain, I hate doing it every single time. Do I do this weird like foreplay fellatio thing where I'm telling them about all the other accomplishments or the inside scene measurement and what you like to eat before you go to bed and stuff? I don't know.

**James Altucher** (1:53)
Well, you know, here's an idea. I'm going to try this. I'm going to do an intro and then I'm going to just start talking to people when we get into conversation and then I'm going to hit record. And this way, it's like people just jump right into the conversation.

**Chris Williamson** (2:06)
Do you know who Rory Sutherland is?

**James Altucher** (2:09)
Yeah, I've heard the name. I don't know who he is.

**Chris Williamson** (2:11)
Vice Chairman of Ogilvy Advertising in the UK. You need to get him on. Let me link you two up for your podcast, man, because you absolutely love him. But that guy is the exact same as trying to step onto a train that is moving at high speed. So podcasting with him, he just went. So I was like, right, Rory, I'm just going to do a little bit of a sound check and then we'll do an intro. And he went, right, Russia. And then just started talking about Russia. And I was like, no, Rory, never mind. Just hit the record button. And I was like, right, I'll just get cracking from the beginning.

**James Altucher** (2:43)
That's funny. Yeah. That's a good idea. I'm going to try that too.

**Chris Williamson** (2:46)
It's fun, man. Right. So what do we start? I'll tell you what, why don't we start? We started something that would be a good story for everyone. So you've failed quite spectacularly a couple of times and then bounced back and then failed again and bounced back. Can you take us through some of those experiences and sort of what they meant to you and what you learned from them?

**James Altucher** (3:10)
Yeah, I mean, I think it's always hard because I've told, you know, I've written about this story and I always try to have a new take on it. But the reality is I always got ahead of myself, didn't know what I was doing and then failed spectacularly. So for instance, I built and sold a business in the 90s. I wasn't a businessman. I didn't want to be an entrepreneur. I had zero interest. I just kind of stumbled into it, sold the business, made millions, and I thought I was smart. Like you think when you're smart in one area, you kind of think you're smart in every other area. So I started just, I had enough money for not only me to survive a lifetime, but my children's children to survive a lifetime. And two years later, I was so stupid during those two years. I had 140, I was left with $143 left in my bank account total. That was all I was worth. I was losing my house, losing everything, didn't know what I was gonna do. I had no friends left because, you know, and this was 20 years ago, but you know, basically on the way up, everyone wants to be your friend. And on the way down, nobody knows you.