Uncovering the Truth

This post will hit on a lot of hard truths. Our most popular post has been destroyed with emotional comments from regular people so we are doing an elongated version to flush out the smart from… well… the not so smart. The truth is rarely pleasant and takes a significant amount of emotional stability to accept. This is why 1/100 people are good people to know.

Outline:

1) Why the Truth Hurts

2) Why the Truth Will Lead to Happiness

3) Reflect and Change Your Activities… Now

Why The Truth Hurts

We do not like cliche phrases. That said, there are two that stand out. “The truth hurts” and “The truth will set you free”. The truth hurts refers to *internal* realizations while the truth will set you free refers to acceptance of your *external* world. The difference between the masses and excellence is the acceptance of the truth *regardless* of emotion. Reiteration. In order to accept the truth you must apply logic to emotional topics. This is the only way to remain balanced with your decision making. Lets get started:

1) Marriage is a Sham: While we have a humorous version of our take on marriage in the form of a pitchbook, it is still the truth. Marriage is just a way to siphon money from you, by taking advantage of your emotions. Here’s the rub: 1) Purchase an asset that serves no function (wedding ring), 2) go sign away half of your future earnings if anything goes south (divorce), 3) transfer all power to a woman who will still take your money away even if she’s the one cheating on you. Where in the world is the upside?

Simply put, all upside for her and all downside for you. Game recognized. You lost control of your emotions. In addition? You’re going to pay higher taxes to the good old government if you’re in the higher income tax bracket!

Unfortunately, if you say these comments publicly, you’ll be ridiculed as a “monster”. While it’s fun to get a rise out of people once and a while, you’re probably best off with the smile and nod approach (WSPs trademark approach to retards). Finally, if you really met “the woman of your dreams” she should not care about getting the government involved with a ridiculous marriage license. The reality is that most women just want the ceremony so she can obtain attention and jealousy from her friends. In short: Do not get married… Ever.

 

 

2) Average Guys are Worse Than Average Women: If you have ever started a company or at least moved up to a managerial position… You learn this fact quickly. While an average girl may be boring, slightly unattractive and annoying… At least she is not angling to ruin your life. Average guys are the worst.

Average guys get jealous extremely easily and are hyper competitive with nothing to show for it. They will consistently compare themselves to others and believe that they are better than you based on their zero success in life. It is atrocious. The worst part? They even have the audacity to give life advice when they have accomplished nothing at all. Leading more and more people down a path of mediocrity.

In Short: Avoid average men and never return their phone calls.

3) Family Doesn’t Matter: We covered this in the post listed above and it is true. Your family only matters if they are helping you with positive reinforcement. If they are trying to tie up your time with crazy requests and phone calls, you have to stop picking up the phone and stop attending the family “meet ups”.

Standards should be applied equally across the board. You wouldn’t let a friend try to bring you down so why does your family get a free pass? They don’t. You won’t let them if you’re smart.

Funny enough, the previous post railed at this truth the hardest. It does not make sense. If your family *is* helping you… then absolutely keep in touch with them! A good family member is probably equal to two friends you’ve known for a decade or longer. If your family member is a crack smoking degenerate, it is not your responsibility to fix his life for him. As you get older, you realize that the only time you should give advice is when you’re asked for it (particularly with friends and family). Otherwise keep focusing on building yourself up.

In Short: Just like friends, if a family member isn’t helping you improve… Move on.

4) You Will Waste Time:  No matter what, you are going to waste *a lot* of time. By 25 years old you’re going to look back and realize you wasted thousands of hours on horrible activities: 1) getting too drunk, 2) participating on message boards, 3) sleeping in, 4) dating toxic girls, 5) networking with the wrong people, 6) eating the wrong foods, 7) building the wrong type of company… We could go on and on and on.

Why does this blog exist? To help people avoid big mistakes. Big mistakes being marriage, working a job instead of a career, becoming a boring type A person, trying to start an internet business that only clears $200K a year instead of a scalable product based business, etc. Simply put, even if a guy isn’t very bright but is willing to put in the work, he’s going to break into the top 5% or so by simply avoiding the big mistakes.

In Short: You’re going to lose thousands of hours… when you realize the mistake you’ll be in pain. Embrace it.

5) You’ve Been Conned: That’s correct. That comment includes the authors of this blog. Everyone at one time has been conned into believing something that is not true. Our favorite quote of all time (that no one likes!) is the following:

“It is not what you don’t know that gets you in trouble. It’s what you know… that really isn’t so”

It takes a bright person to realize the intensity of this quote and how true it is. To make it even clearer. The longer you go down the wrong path the more painful righting the ship becomes.

Lets say you’ve been married for 10 years thinking she has been a good housewife for the past decade… Then you find out she has been cheating on you for the past 4 years. That pain is going to be significantly greater than breaking up 10 years ago! You *believed* something was true when it wasn’t. That is real pain.

Closer to home for us… Lets say you believe business person X is trustworthy and you place a large order with them. Unfortunately “something comes up” and the person does not deliver. This costs you many tens of thousands of dollars. While you think it was a mistake that was unavoidable… You do your due diligence and realized he screwed you on purpose to throw a wrench in your business since he was playing on the other side of the fence! That is going to hurt. You have to develop a new relationship over the course of a few years to displace this single dishonest person. You trusted the wrong person. Pain.

In Short: If you’re trying to succeed in life, you’re going to get conned. Remain stable and remember that ignorance is rarely going to cause you meaningful pain… Incorrect certainty will cause you the most pain.

6) You are Not Special: While we do not like hero worshipers, you should have one *mentor* or ideal person you’re striving to become (similar). You’re not special because many people have lived insane lives over the past 5+ centuries and what you want is going to be *similar* to someone in the past. Find that person, befriend that person and make your own path with the guiding comments in the background.

Two years ago, life was great. Going out drinking, having fun, traveling and the money was finally coming in. Flew out to see the “mentor” for a game of tennis and a few truth bombs were dropped that forced change immediately. Without butchering the actual advice, here is the crux of it:

1) “If your life is so great, why do you have to go out of your way to meet new girls?”

2) “Why are you building someone else’s dreams? Only do this if it will help you obtain yours.”

3) “Before you decide to retire, take a week off. Do not do anything related to your career or company… Report back”

These three truths will quickly put a 180 on how you think. They are all true.

First, if you are not coming across people you want to meet on a day to day basis (replace women with new connections as well) your life is not where it should be. You need a consistent stream of new contacts so you can improve in every environment. Going out to be entertained is ridiculous when you can go out for *both* entertainment and improvement. Be honest with what you’re doing. If it is pure entertainment, great, a few hours a week will do. Otherwise… Better start combining.

Second, building a company or your career is great… Just make sure its part of *your* dream. Is that the direction you want to go in? Are you just burning time out of boredom? Working on a project that is not part of your dream is expensive. You will never get the time back.

Third, retirement is a complete and utter joke. Once you hit your financial independence marker you’re immediately thinking of all the cool stuff you can do now. Travel to a new country, lay up on the beach for several months, take up new hobbies etc. The problem? It’s boring. The type of person who obtains financial independence is an actual winner. Meaning, he/she enjoys improving. Working hard is the *fun* part of life. <– regular people will NEVER understand that sentence. Once you realize that hard work is the best part of your day, selling that company is not going to make much sense anymore.

In Short: You’re not that unique. Someone out there has a life you’re trying to at least emulate. Befriend them and be open to hearing harsh truths. Oh… and before you sell that company… take a week off first and realize retirement is non-sense.

7) Your Emotions Are Meaningless: If you learn anything from practicing sales it is that people are driven entirely by emotion. Sales is nothing but the transference of a feeling. As soon as you can control your own emotions and feelings, you’re going to realize they do nothing but create bad decisions for you!

The above paragraph sounds like it is written by a bitter person and that couldn’t be further from the truth. Once you’re in control of your emotions you get to *choose* how you feel on a day to day basis! This is the complete opposite of regular people. Regular people are easily influenced and swayed by how they feel. This is exactly why they listen to motivational nonsense all day long. They just want to feel good. Temporarily. They don’t actually want to take control of their lives and their emotions. That is far too much work.

In Short: Emotions need to be controlled. As long as you are ruled by how you feel, you’ll never gain any momentum.

8) You Shouldn’t Ask Many Questions About the Future: We get a lot of these and they need to end. Now. You should not ask “scenario” type questions unless you are actually in the scenario. You are wasting your time.

Lots of young people do this and we used to do this as well. “What if this happens, then what?”… Who cares. Unless it is actually happening it’s a waste of your time. Go do something that will benefit you *today*. Asking questions about gold diggers when you’re not even making $500K a year is equivalent to asking about movie contracts when you haven’t even acted in a play before. Here’s the fun part. If you’re smart enough to make $500K+ and you found this blog… You’re going to be smart enough to avoid being skinned by “gold diggers”.

In Short: Unless you are in situation X, don’t worry about situation X. It is simply mental masturbation.

9) Doing is Learning: The self improvement community, or whatever you want to call it, focuses a lot on reading. The problem? Reading is nothing compared to doing. For every 2 hours you spend reading you could have learned the same material in 15 minutes by doing. That is the legitimate ratio… 15 minutes of doing gives you as much information as 2 hours of reading.

While smart people read, those same smart people spend at minimum 8x more time doing. Being well read is like watching videos of Michael Jordan shooting a basketball. You can replay the shooting form in your head 1,000x times but if you’ve never picked up a basketball you’re never going to be any good at it. The guy who spent 8 hours a day playing, without watching anything, will beat you every single time.

Being well read is a good excuse made by intellectuals to avoid actual work. They will read and read and give you a lot of Snapple facts. But. They cannot connect the dots so they always seem socially “off”.

In Short: Spend more of your time doing than reading. Reading is great when you have a problem to solve, it is horrible for building a talent base.

10) You Are Not In Control: That’s correct. There are many things that you cannot control. You cannot control the actions of others (IE: your expectations are insane if you believe this). You need to accept this fact.

If someone does something bad to you or something bad happens to you… Ask yourself… Could I actually control this event? 99% of the time the answer is no. If you cannot control it do not worry about it. Many many many people worry, whine and complain about things they cannot control. This is exactly why we do not talk about ridiculous things such as culture, feminism, politics, religion or otherwise. People are going to believe what they are going to believe and you can only control how you interact with the *environment*. People who complain about these things are not able to understand that they cannot control the actions of other people. It is best to move on.

In Short: Stop worrying and complaining about things you cannot control. The world does not revolve around anyone.

Concluding Remarks: That was a lengthy section. We’re going to give you the bullets in more concise and actionable steps below:

– Never, under any circumstances, do you get married

– Average guys are much more likely to cause you harm than an average woman who you can ignore

– If your family is bringing you down, it is not your job to fix their lives for them

– You are going to waste a lot of time. Accept this as a part of learning and life

– You will go through painful truth realization phases. Accept this. You will get burned at least once.

– You’re not special. Someone has obtained what you’re hoping to obtain.

– Emotional decisions don’t work. Take control of them and live a happier life.

– Stop asking about the future, ask about improving your current situation. “Scenario Analysis” is primarily done by people who never get into said scenarios.

– Doing is learning. You read to solve a problem after *doing* something fails.

– You are not in control of the lives of others. Don’t expect anyone to listen to you. If they want your opinion they will ask for it.

*Bonus*: For fun. Find what someone complains about and you’ll find what they were never any good at. This is exactly why poor people complain about the rich. They never did the necessary work to make it. Use this to avoid bad advice.

Why the Truth Will Lead to Happiness

The section above primarily covered “the truth hurts”. This section will explain the external version of the truth. That it will set you free. If you are free spiritually, financially and emotionally then you will be fast tracked to extreme levels of happiness (barring good health of course which is always #1).

1) External Happiness: To become happy externally (without faking it) you need to be happy with who you are at this point in time. This is exactly why most people in their 20s are unhappy and “rage against the machine”. Who they want to become seems to be on a different planet compared to who they are today.

Where is the fun in that you ask? Well if you’ve been paying attention you’ll see that *work is fun*. The sooner you accept this as fact… the happier you will become. Think about it. When you’re young and restless and working like a dog 80 hours a week… you are going to be making incredible (non-linear of course) gains. The faster you realize that working hard is the most exciting part of life you’ll realize that your twenties are a great time to be alive.

Most people won’t comprehend the previous paragraph. Most won’t even comprehend it by the time they are 40! (they will make terrible decisions). We suggest you get onto this band wagon as fast as you can. Find something you are good at that is scalable… Get to work.

In Short:  Once you realize work is fun… Your twenties become an amazing time to be alive. You will work harder in your 20s than any other point in your life… Which is the most fun part of being alive.

2) Acceptance of the Uncontrollable: The easiest example for a young person is a break up. You’re dating a girl and she either dumps you, cheats on you or leaves you for one reason or another. The day that you accept that you couldn’t do anything to prevent this is the day you’ve finally gained control of your emotions from a relationship standpoint. If you’re still pining away, complaining and trying to “make sense of all of it” crying into your pillow at night… You’re still a teenager mentally.

Once this event happens you need to do two things immediately: 1) spend one day writing down any potential game mistakes you made and 2) drop contact forever. If you cannot do these two things within the first 48 hours you are still ruled entirely by your feelings. This is a womanly trait.

Assuming that you’ve accomplished both tasks, no one should even realize you’ve ended a serious relationship. Your internal self has already processed the information (you cannot control the uncontrollable) and your external self will reflect this and return to a state of happiness within a 24 hour period.

Congratulations. This was a blessing for you. The acceptance of the harsh internal truth has set you free *emotionally* to maintain your state of happiness.

In Short: Knowing that you cannot control the actions of others… will make your happiness *independent* of the actions of others.

3) Your Life Your Rules: Now we’re getting to the good stuff. If you accept reality for *what it is* and not *what it should be* you are going to live for you. You are not going to live for the acceptance of other people (external). Instead of living for the aspirations of *others* you are going to live for your own aspirations.

This is going to be different for everyone. For our readership, this means $1M by 30 or so is nothing spectacular. We hope that everyone reading is *at least* aiming for 5-10x that amount. That said… If you’re happy with significantly less then you’re going to stop reading this blog quickly! You’re going to go and find someone who is living a life that you want and take guidance there. We have no problem with either group we just don’t cater to the latter one.

In Short: You will create your own rules for life in terms of a balance of what will make you happiest. Since it is your life, you won’t have rules that are predicated on aspirations laid out by anyone other than… You.

4) Loss of Media Interest: You’re going to lose interest in mainstream topics. You won’t be interested in the latest movie or reality TV show. You may have one mainstream interest (say Tennis or Golf) but the vast majority of the things you see on TV are going to come across as cheesy and ridiculous.

This will do wonders for your external happiness and freedom. You won’t be able to pay attention to mainstream media! If mainstream media cannot even hold your attention, they are not going to have a shot at dipping into your mind or wallet either.

In Short: You will no longer be swayed by any main stream media ideas. You won’t have the attention span to watch it.

5) True Independence: The last piece, after accepting the truth, is that you will feel true independence. You can lose your career. Your business can go bankrupt. Your girl can ditch you. Your friend can screw you over. You won’t change.

Independence is a popular topic, particularly in the USA. But. How independent are you if your happiness is derived from the actions of others?! The answer is you’re not independent at all. The day you accept all of the truths laid out above and map out your own path is the day that you begin to feel true independence. Your emotions are separate from the noise of your life.

In Short: Your life will be a separate island. You allow people on the island, some decide to stay and sometimes you may have to send them away. But. The island is always yours and stable.

Concluding Remarks: This section is literally one half as long as the internal section… For good reason. Your external being will be a reflection of how you feel internally which is why you must build the inside first. Fixing the big items first (internal painful truths) followed by its positive impact on your external life.

Reflect and Change Your Activities… Now

We are at the tail end of the post. What are you doing incorrectly? What belief are you holding onto that is creating unhappiness for you? Where are you spending your time? Why are you spending your time on those activities? Ask yourself uncomfortable questions to uncover the truth.

We do not know what you are doing for 168 hours per week but we can guarantee that there are time wasting activities in your day to day life:

– Are you wasting time on message boards creating content for someone else when you’ve already obtained the crux of the information?

– Are you reading all day without actually doing anything?

– Are you emotionally unstable? Being rattled by meaningless events like your girlfriend cheating on you?

– Are you asking about scenarios in the future that haven’t even occurred. IE: speculating on things that may not even happen… wasting the time of everyone involved?

– Is your life in the slow lane because your family members want to spend time with you… Which consists of them hitting you up for money and begging for a job?

– Are you watching motivational videos because you don’t actually want to commit to improvement?

What is it that you are *actually* doing. Why are you doing it. Is it going to get you to where you need to be in a year? 5 years? A decade?

We don’t know. But we do know that if you don’t build your own pyramid, you’re building someone else’s.

Comments

  1. Aaron says

    Great post!

    The part that struck a cord is the bit about realizing a belief is entirely wrong. I have a lot of respect for guys who can realize a long held belief was actually wrong and turn it around entirely to fix it

    • Wall Street Playboys says

      Yep. Real “open minded-ness” is recognizing when you’ve made a mistake and fixing it regardless of how upset you are.

      This is also why it is easy to see real from fake… Fake people give you advice that you know doesn’t work.

      • Troy says

        You can’t fix all mistakes. I moved in with a girl and had a child with her. This was before I learned about your blog. However, I can’t fix that mistake now. After reading your material, I know that I will never do that again. But I still can’t fix that mistake. Now she has the power especially because of child support.

  2. Chris A. says

    Great article, huge fan of the site since I discovered it a couple weeks ago. Recently had to reevaluate my career goals and decided that I wanted to work in IB instead of engineering. Any advice for summer analysts? (I’m a junior in college). I’ve read your Politics article and the difference b/w top and bottom bracket analysts- Didn’t see a post specifically for summers. Thanks!

    Chris

    • Wall Street Playboys says

      We have a post on how to prepare for the full time job and have a free excel model on here as well (PDF – build it yourself). That is all you need. Doing a “summer” post is redundant.

      1) show up earlier than everyone, leave later than everyone
      2) don’t complain when the female intern works less hours (she will and she will still get the offer)
      3) don’t make the same mistake twice and follow the company templates

      Converting an offer is extremely easy if you put in the hours. Will be a cake walk compared to starting your real career, good luck!

    • Wall Street Playboys says

      If you travel for longer than a week you need to bring at least 20 hours/week worth of work with you. Career/business work.

      Otherwise you’ll go insane because you’ll be bored on dead nights such as Tuesday/Wednesday.

  3. Emotions says

    Amazing post per usual.

    A great mindset framework when 1) deciding on long term goals/the person you really want to be 2) making progress towards those goals efficiently and effectively.

    • Wall Street Playboys says

      Wouldn’t call it mindset at all. We don’t really cover that stuff. We just give blunt advice and then explain how you should always be willing to stop if you’re going in the wrong direction.

      Example: you realize you’re never going to get promoted. Accept it. Jump ship. The longer you wait the worse it gets. Be aware.

  4. Eric says

    This is a legendary post! So much information to absorb. I will print it out and keep it on my desk to remind me what my life purpose is from time to time. Thank you guys!

  5. Michael says

    Great post!

    I was in New York City recently for the Global Asset Management Education Conference (G.A.M.E V). I was able to learn a lot more thanks to the foundation of knowledge I learned from your blog.

    Some food for thought,

    On the topic of marriage, I agree with your financial analysis of it, but I disagree with the conceptual aspect.

    Of course the end goal is to be happy and different people choose different paths to get there. In my opinion, having a stable, loving relationship is more beneficial than (again, my opinion) superficial encounters with many different people. For me, having a stable home life helps me concentrate on navigating the chaos of my work life.

    On the other hand, being in a place where I am comfortable may dampen my ambitions and cause me to take less risks. I find It is good to look at a problem from multiple angles.

    • Wall Street Playboys says

      Perfectly fine. If you want to have a wife and kids, go for it. That is your call.

      Just don’t get legally married. You lose all power and have to pay *more* in taxes!!!!

      If she loves you, she will be happy with the ring and wedding ceremony. Government involvement always ends in tears.

      • Michael says

        Defiantly agree, expensive rings and wedding ceremonies are also a waste. ‘Let’s spend all our money before spending the rest of our lives together!’

        Depending on the incomes, it may be advantageous to get married, but that depends on the individual situation.
        (I am not married so don’t take this from experience) But prenups are generally a very good idea to protect your assets and assets from income while married to be split 50/50 in the event of a divorce.

        There are tonnes of stories of people losing millions of dollars to someone who hasn’t worked a day in their life.

  6. DeezNutz says

    Truth 11: Kids are million dollar liabilities

    For those of you concerned with having children you should adopt or have a surrogate mother(make sure your state is friendly). This will ensure that some woman can’t take it away from you, because if you are going to have a million dollar liability you better at least ensure that you will always have access to it.

  7. E&P Associate Houston says

    Holy shit knocked the ball the fuck out of the park with this post. Thank you so much for posting.

    The advice about getting over things you can’t control hits the nail on the head. Pure gold here. I’m in my early 20s and this type of *actionable* advice is paralleled only by what I hear from my MD (happens to be my mentor as well), proof that whoever posts on here actually has a lot of success and life experience.

    Going to have to give this 3-5 more reads just to internalize and apply everything.

    • Wall Street Playboys says

      That’s really interesting.

      While successful people don’t agree on *everything* there are a lot more overlaps than not.

      This is also why it is legitimate to find books on how successful people “think”. Lots of the important topics will be agreed upon giving you a solid mosaic to build.

      • says

        Hugely agree here, on trying to learn about how people *think.* Bruce Lee’s martial arts books are known for their philosophical assertions. To know how someone thinks, you better hope they write well, or at least sought out someone who can on their behalf.

  8. Z says

    Good post.

    I waste a lot of time reading “stuff” online. And watching youtube videos. Most of it us non-actionable information except for articles about strength and mobility. I actually put those to use and they have helped me reach lifting goals. Working on mobility has made me feel so much better too.

    In past years, I got conned twice with online investment ponzis. That was painful. More recently, most of my savings are in oil & gas stocks that have plummeted in last 6 months. Again, painful.

    Most exciting job I ever had was working a door-to-door sales job selling $30-$100 framed artwork. A real grind. After much initial failure, you realize a paycheck can never compare to closing a big sale. You really do feel on top of the world and your confidence is just spilling over.

    • Wall Street Playboys says

      Yes the best feeling in the world is building something that is yours.

      The best return is always ownership so buud your products, sell them, spend the excess money on indexes in the market.

      Road to both $ and happiness.

  9. Recent graduate says

    I recently realized why people worry about things they can’t control and why mainstream media is extremely popular.

    You have two choices if your life sucks. 1) fix it yourself. 2) blame uncontrollable factors. Fixing it yourself is hard so blaming is more popular. Examples: A) My wife left me. Must be because feminism is rampant in America [truth: you’re boring] B) I’m fat. Must be because I can’t afford healthy organic gluten-free food [truth: too much pizza & beer]

    Thus, here comes mainstream media. “You’re out of work, fat and divorce? Yeah, 50+% of people are as well so there must be some sort of uncontrollable evil going on in the world!! We will report them!! Keep watching!!!”

    Instead, everyone should just think back to when they’re 6 yrs old about the 3 little piglet story. The lazy piglets that built houses with straws and sticks got destroyed by the big bad wolf. The smart piglet spent a lot of time building his with bricks and the big bad wolf couldn’t blow his house down. Moral of the story is simple but very very few people follow: work as hard as you can when you can and build yourself a good life so that most of the uncontrollable evils of the world cannot ruin your life.

    • Wall Street Playboys says

      Yes the default mode for regular people is to blame others.

      The default mode for successful people is to blame yourself.

      This post helps the people in category #2 realize when something was truly out of their control. Instead of getting upset about it you should just go back to work.

      Bad things will happen for no reason at all (it will happen more than once) and you should always try your best to prevent the same issue from arising twice

  10. W says

    Powerful yet again. Perhaps you consider it an elongated article, however it’d be mighty difficult to find a word wasted.

    Again, greatly appreciate your thoughtfulness and precision to share this information. While my own journey has been heading in a direction of my favourable choosing and engineering for some time, nearly every article provides specific, actionable advice that helps me recognize, understand and avoid certain critical pitfalls.

    Much appreciated, gentlemen, and always my utmost pleasure to share WSPs to the few others who will greatly benefit.

  11. says

    I had a question for you guys. I am guilty of always wasting time reading stuff like this and never doing anything about it. I graduate in may and because of my GPA/ non target school / lack of direction up until now, I’ll most likely be working a management/ sales job that at most will max out at around 400k a year. Do you have any advice for me? I don’t want to stay in this forever as I don’t feel passionate about it but I also am not sure what to do. Should I get an MBA and then try to work on wall street?

    • Wall Street Playboys says

      Read the FAQ.

      Without job experience an MBA is worthless.

      The reality is you are already far behind. You assume success in sales (without having done it before) and you have taken no action.

      We cannot motivate the unmotivated.

      We suggest you take massive action as you are already 3 years behind (maybe more)

      Good luck. Life is 100x harsher than this comment.

  12. Art21 says

    Good post, but i do not completely agree with point No.2.

    It could also be the countrary. I am working in sales, in a good position to become manager, and the first ones that got jealous of my position were women, and not guys. Simply, for guys is easier to be promoted, to have a good career, while for women is harder. For this reason, I felt much more envy from women, while guys in my office where very relaxed.

    Also, at work I constantly hear women talking bad about other people, it is quite rare that it does a guy.

  13. Zoloo says

    Dear WSPs,

    It’s a pure jem.

    Family doesn’t matter.

    Cutting myself from toxic family member, is one of the best decision ever.

    Totally agree with that.

    I am reading too much, and not enough doing.

    Thinking too much about future X scenarios, instead of being here and now.

    The realization of wrong beliefs is fantastic.

    Working on communication skills,

    Thank you very much!

  14. Good Post says

    This was good post. It was also very hard to read for me personally (that ball in throat feeling). From this posts I realized one truth = I am extremely far behind the curve. Where I should be at this point in life has been tainted due to bad decision that I can only blame myself for.

  15. William H. says

    Good post. Time is probably the most significant one for me. Everything else can be changed, but time lost cannot.

    It makes me shudder when I think about the amount of time I wasted in my early teenage years. Possibly the worst question to ask oneself is “Where would I be now if I knew then what I know now?”

    Oh well, I’m still young. Thanks for the advice.

  16. Patrick says

    Hi, been following your blog for years and have not posted anything in the comments section yet. I will be starting full-time at a boutique investment bank out of college this summer. I was wondering if I could get a little more granular information about making $1M a year by 30.

    A VP at a bank is around 28-30 years old and makes 400-600K. Even with cash generating assets and investments that amounts to 100K, it is still quite far away from $1M. Without starting a business, which could be time consuming for a young professional especially in finance, I was wondering how one could realistically get to that golden number $1M.

      • Analyst says

        Great response. And now we all know we have a lot of time to act upon it.

        The minute I ran the numbers and found out about this I got into action.

        I come from a family of entrepreneurs and I’ve always tried to keep a side hustle.

        Got a few programmers creating a new start-up at this very moment. I’ll keep generating businesses until I start to gain traction in later years.

        I don’t want to be that family friend trying to go up from Associate level saying she doesn’t have time for business ventures.

        She’ll always be a slave to her job.

        That’s not me.

        Thanks for the insights especially about not asking too many questions about the future.

        Definitely didn’t agree with the average girls comment though. I doubt you’ve met average girls.

        And I’d go out on a limb to say successful 20-25 year old males are the absolute worst people to be around (My peer group). Overly competitive. Posturing. Lying about achievements.

        Most of my close friends are much much older than me. Or much more successful.

    • Banker says

      Since this post is about uncomfortable truths you’re already wasting time.

      You’re assuming you even make it to associate (90% don’t get promoted) and on top of that unless the boutique is elite (evercore, Moelis, etc.) you’re behind the 8 ball to reach those high numbers you just laid out there. You should read part 6 and part 8 over and over and over again to get your mind right for the next 3 year grind. It’s significantly more difficult than anything you have gone through in college.

      – signed 26 year old associate at a BB.

  17. Florian Ulrich says

    Great blog post. Here is a question I am personally struggling with. If I am happy with what I am doing, shouldn’t I be content with a small income? Shouldn’t money matter at all?

    I am working in academia. Basic research in biology. People that are 30+ years earn $40 – $50K/year. As a professor, you’ll earn – even at the Ivy League level – not really more than $150K/year. The NIH has a salary cap at ca. $170K/year. You bet that professors in basic research work 70 – 80hours/week. From the time they are 20 to their retirement. It’s not work. It’s a glorified hobby. It occupies your thoughts 24/7.

    Somebody working in finance seems to be much richer by the age of 30. Richer than an academic professor. Maybe even happier?

    For the professor, money does not seem to equal happiness. He does not care. Still. He will not have hot girls surrounding him. He will not even have many other people surrounding him. It’s a very solitary existence.
    THAT may be the reason why he does not earn as much money as a person in finance – because he creates less value overall.

    I am struggling with that. I always thought I love science. Yet, I realize money does make me happy. But deep down, it’s not really the money. It’s my impact on others. I don’t want to live like a monk! Intellectual stimulation only brings you that far without having emotional satisfaction. Affecting more people = more happiness (and more money).

    Solution for me: leave academia and start in industry. For example, take part in a drug screen that more directly affects people’s lives. I’d earn more. I’d go home with the knowledge that the drug we find could directly cure somebody. Phantastic.

    Is that always the case? Money directly correlates with the value you create for people?
    In that vein, basic academic research is useless without people translating the research into products. THAT’s where people are affected.

    Does that make sense?

    • RandomResponse says

      Firstly your question was way too long.

      Secondly, I really have a problem with academics who think they can enter industry easily and make tons of money. It’s a huge delusion. All these PhD’s who think they can just walk into Google/Quant Trading Firms/BioTech firms and just get job offers.

      Statistically your research won’t be related. And if it is related directly to a firm, you will have to pass through the same competitive hoops.

      The reality is you won’t make much money working for someone else as a researcher.

      Research does not drive revenue. —- I’m talking from direct experience at a Top Tech Firm, Top 5 for R&D (Research and Development budget). And I’ve seen the numbers of how they distribute money to the department.

      Finally – you really seem naive/ignorant or both about so many things. You have framed your questions with more questions like a true academic. Not practical at all.

    • Wall Street Playboys says

      We have no idea what you are asking.

      1) money is directly correlated to your value. *you*. If you are not valuable you will never be rich. This means yes you must add value to the lives of others.

      2) we do not care how you live your life. At all. This post is about harsh truths and the reality is that your life is scary (if you want our *opinion*). You’re doing the same thing for 40 years and calling that a life.

      “Most people die at 25 but are not buried till 75” – Benjamin Franklin

      That said if you are actually 100% happy then who cares. Do it and live that way. We would never ever do this though.

    • Recent graduate says

      Actually, I understand your question because I’ve done research while in engineering school…

      You’re asking money vs. passion.

      Well, get both. Open up a business that would in corporate biology. Research a product with biology. Sell it. Make money. Go home happy.

      • Florian Ulrich says

        Thanks for all your comments and responses. They were not always pleasant, but I appreciate the opportunity to learn.

        TBH, I am scared. But maybe that is what I need. And recent graduate provided a way out.

  18. Taylor says

    Realizing that life is actually a lot harder (can be) after college.

    We’ll see what happens.

    It also seems like that’s contingent on coming out with a good job.

    • Wall Street Playboys says

      College is a joke. You can work 2-3 jobs and still get a 3.5+ GPA because all you need to do is regurgitate information back to your professors.

      Real life = need to deliver real value. 99% fail at this which is why the 1% is the 1%.

      It is sad watching many lives fall off a cliff once they get their degree. But it’s reality.

      • Taylor says

        I have to disagree with that part on engineering (especially at some of the top schools like MIT and the like).

        But yes, for your typical liberal arts student that’s usually how it works.

      • Anonymous says

        Lived that lifestyle for about 2 years.

        Not fun, unless you really really like theoretical physics.

  19. c says

    Nice post. Wrote down some key points from this & started to apply them to my life.

    Clicked on the 5 truth’s link at the top, saw some comments. Just lol.

  20. Anon1 says

    This isn’t a truth bomb, it’s a truth 50 megaton Tsar Bomba goddamned masterpiece.

    Needed saying and you said it.

    >Working hard is the *fun* part of life. <– regular people will NEVER understand that sentence. Once you realize that hard work is the best part of your day, selling that company is not going to make much sense anymore.

    I think you hit on something very crucial there. Mediocre people think the fun part of life is chilling, Great people think the fun part of life is growing.

    And the secret? never stop growing

    • Wall Street Playboys says

      Well said:

      “The secret? Never stop growing”

      Regular people think when they hit their “number” they are going to be happy. Couldn’t be further from the truth.

      When you hit your number you find out exactly what you enjoy doing. This leads you directy to the business you want to run.

  21. Matias Page says

    “It is not what you don’t know that gets you in trouble. It’s what you know… that really isn’t so”

    I always liked this phrase, but I knew a different version. It is a science phrase that I applied to the world around me:

    “The greatest obstacle to discovering the shape of the Earth, the continents, and the oceans was not ignorance but the illusion of knowledge”.

    THE ILLUSION OF KNOWLEDGE is a brilliant way to put it. I think.

    This article is a brutal kick to the gut. I love it.

  22. says

    “Working hard is the fun part of life”
    This is so freaking true, and as I thought about it I couldn’t help but think that my favorite scenes in movies/television are montages of someone going through self-improvement or working hard on something. I envy how they can put an entire day into something, but the reality is that a lot of that time is boring and difficult. One of my hobbies is to play drums, but I suck on my drum set since I never put in hard practice time in my life. I am putting in around an hour a week into it now and notice that I am getting faster and more competent. If I keep it up I can one day be pretty decent and enjoy playing, but for now I have to get through the messy parts. This can be applied to any situation or career, and these Wall Street guys happen to be doing that in a very rewarding field, but I bet it came with a lot of monotonous hours before they hit pay dirt. Great post.

    • Wall Street Playboys says

      Yes it can be applied to anything.

      If you’re doing the same stuff, not learning anything new, you’re going to live a really boring life. You’re not alive.

      The fun part is learning + improving.

  23. Random young guy says

    From my young experience, most people want to feel good. They don’t want truths. They don’t want results.

    They just want to feel good and approved from the peers they look up to… Without the hard work though..

    They also think that college is tough and that woking 9-5 or 10 hours per day with weekends off, is hard work. Ridiculous.

    I am glad I had people around me at some times in my life that gave me the cold hard truth, directly without sugar coating. These were the points in my life with the most rapid and extreme progress and change of direction.

    Cold hard truth is the best gift if you are into results.

    If you want to feel good, it sucks and one should spend time watching advertisements and buying useless products, making the 20% richer (with which I am fine)

  24. MMPC03 says

    Could you do a post on the best courses to take in college? (Personal finance, Cost Management, Global business analysis, Intro to Investment Banking) when pursuing an undergrad or graduate degree in business? I’m 18 years old and have been accepted into one of the top 20 business programs in the US and was wondering what courses should i take and would be most beneficial if i wanted to work on WS. Also, i want to avoid taking any classes that wouldn’t support this goal and waste my time.

    • Wall Street Playboys says

      Not needed can be summarized in 3 bullets:

      1) take all finance courses related to accounting and corporate finance (investments, valuation etc) that your school offers. You will be forced to take many classes that are unrelated to fulfill your major.
      2) maintain a 3.5+ gpa overall (ideally 3.7)
      3) go and get internships

      If you follow this 90% of your classes will be unrelated to work. Which is better than 95%, ha!

      Get internships asap, you should have at least 3-5 of them by your junior year. All set. We have a post on college already up.

  25. Rob says

    It’s so funny when you look at this point of view towards most people in the corporate world. There ain’t no competition at all! Just started a second internship at HR of a large company and nobody gets shit done or complains about not feeling towards it. The people who do want to change don’t even take time to find a strategy.

    One advice: if you don’t like the work you’re doing make a plan to get where you want to be. Execute that plan in your free time and you can be in a different position within a few months!

    • Rob says

      Even more fun when they get a day off and waste it on entertainment. Smile and nod works so good in these situations.

  26. Audio Books says

    Hi guys… Any suggestions for audio books specifically? For the gym, travel, etc. If not I’ll just pick a random one with high reviews (business, psychology, sales, finance, investing related preferably). Thanks!

    • Wall Street Playboys says

      No. We do not listen to any audio books or podcasts. (Entertainment to support friends maybe 1x a month… Max)

      You can read significantly more words than you can consume in audio form. So it is inefficient and a waste of time.

      • Audio Books says

        Thanks… Just a quick Q: If I’m going down the sales-focused route, it seems like the options are as follows, broadly-speaking when starting out:

        A: Sales at a large, established firm
        /// Reasonable base; standard commission rates/bonuses; no equity

        B: Startup/co-founder role (sales/biz dev)
        /// Low base; probably same (or higher) commission rates/bonuses; *equity*

        B sounds way better for someone who has conviction in themselves? Any reason why I should slow down and think about A?

        P.S. I’m interesting in starting a small-scale PE firm one day… I guess both these options would have transferable skills (perhaps B more so) – I’ll bring on finance-focused guys when I need them.

      • Audio Books says

        Fair enough.. I did read the Career Advice post before. Given my crap university, I may just start a company and sell outsourced services, and then sell ASAP (for whatever nominal sum – even £100-500K would be good enough to start a track record) and move onto next steps.

  27. says

    Funny you should mention marriage. I did the calculation, and my tax bill would have gone up $25K for years while I was working. What a crock.

    Love this advice: In Short: Avoid average men and never return their phone calls.

    It gets extremely annoying, especially on the internet sometimes. Ignoring is great for the soul.

    • Wall Street Playboys says

      That is an insane amount of extra *charity* for an inefficient government. Could have paid for your car instead!!!

      Also agree ignoring is the best course of action.

      “When you argue with a fool there are two fools in the argument”

      • says

        Yes, $25,000 extra in tax a year is absurd. The government and their tax laws are so backwards today with more equality among the sexes in terms of income generation.

        It used to be $200k + $200k = $250k. HUH? Now it is $400k + $400k = $450k when the top new tax bracket kicks in.

        Hello… What about equality and simply math and have the tax kick in at $800k?

        I spent some time figuring out multiple permutations of incomes on when the tax penalty kicks in, if anybody cares to see what Big Brother wants to know: http://www.financialsamurai.com/at-what-income-level-does-the-marriage-penalty-tax-kick-in/

      • Wall Street Playboys says

        Yep. Great biz model for the government though. Capitalize on the emotions of people.

        Similarly… Never tell a florist you are getting flowers for a wedding or a funeral.

        Always make it a mundane event so you don’t get price gauged.

  28. Thomas says

    I agree. You guys have the best twitter page on twitter. Your tweets are very informative. Base on the last tweet does this apply to sportswear too like nike, etc? If so what do you recommend us to do to avoid name brand clothing which gives free advertising? Thank you…

    • Wall Street Playboys says

      You can’t really do anyhing about some of those things. Gym gear is gym gear.

      Just don’t walk around with some brand name logo where you’re paying extra for no function.

      Example: wearing a Lacoste polo… When a regular one is the exact same and $60 cheaper.

  29. says

    A really moving article, but in my honest opinion, it is too biased to your viewpoint on life.

    AS you- The writer – are clearly kicking ass in your business, you equate work and your success with happiness, and that is correct for you only, but that might not be the case for other people.

    How to be happy is a question that can be answered by none but yourself, each person can have his own “Right” answer.

    The more you dig into that question the more it will become vague and undefined.

    Simply but, ignorance is really a bless. The more you read ‘Harsh Truth’ and ‘ways to be happy’ the more you see flaws that were hidden from you in the first place, and thus you will have to get more and more things fixed to be happy.

    If you thought that banging a new girl each day will make you the happiest person alive, it will make you the happiest you could ever be, because you are oblivious to the other sides of being ‘Happy”. you do not see the world as it is.

    After all, it is not always good to see the world as it is.

    your well written, moving proposition in this article can fall down to pieces in one single probable event, Death.

    You can lock yourself in your room building an awesome business trying to make it early in life, things are going well, you wake up early to take a shower after your morning run, you slip and smash your head on the toilet, your dead.

    Maybe then you did miss up on all the partying, maybe you did take life too seriously.

    Happiness is an emotion, saying that you should view emotions as meaningless does not make any sense.

    Choosing happiness while disabling other emotions is undoable, you either ‘disable’ all your emotions or none at all.

    And in a deep philosophical view on life I could say that happiness is not a constant linear feeling that is driven from success or so, but rather a wave of both the good and the bad.

    That is how I see it.

    Great Article.

    Regards,
    J.Deus

    • Wall Street Playboys says

      Not sure what you’re talking about that was one crazy letter. You should always be happy, anger and unhappiness are low forms of emotion for losers. Hence why most people are losers, they whine complain and are unhappy. Dirt that should be ignored. Your belief that you *can’t* undo other emotions is simply false and we are living proof of it (a “limiting belief” as the dorks call it). Read a book on stoicism.

      We recommend that you party at least 2x a week. Have fun.

      Beyond that is too much. Our point is that sitting around doing nothing and just being rich is dumb.

      The contradiction is quite clear. The writing style is blunt so it seems that it is “all play no fun”. That is false. We type this way so there is no misinterpretation or reading between the lines.

      • b says

        What happens when you’re doing BS work all the time and it pisses you off?

        Usually happens to me.

        I don’t hate it but I get pretty pissed off.

      • Wall Street Playboys says

        Outsource it.

        If you can’t say to yourself “if I don’t do it now, I will have to do it later. Complaining and getting angry won’t make it go by any faster”

        Then get it done.

        There is no such thing as “always doing what you absolutely love” even when you are the sole owner of a company someone has to keep the ship clean.

        Any sport is a good example of this. Maybe you hate cardio, or you hate lifting or you hate XYZ drill. Do you want to win or do you just “kinda want to win”.

        A good phrase is this “you don’t have to do everything, but you should be willing to do everything”.

        This means you are willing to do the bad parts. But. Always make sure you’re using your time appropriately.

  30. says

    So much knowledge in here. #10 “You Are Not In Control” is especially important to how I live my life. I witness so much wasted energy on meaningless things that can’t be controlled every single day. Things like weather, other men’s success, heavy traffic, and a rude waitress actually ruin people’s day. Put all of your emotion in YOU and the aspects of your life you can actually control (YOUR business, YOUR life) and be prepared to reap the benefits.

    • Wall Street Playboys says

      Correct!!!

      Absolutely spot on.

      We should make it clear this change is *not* going to happen overnight. But work on getting better at this every day.

      It doesn’t mean you become an emotionless zombie, you just accept that you can’t control it. If some dude messes up your dinner order, have it corrected, no need to yell like a baby and have it ruin your day. 99/100 times it was just a mistake anyway.

  31. MaleDefined says

    #8 is crucial.

    I find that people who wax about the future are perpetually stuck.

    “If only this goes well, I’ll be set for years…”

    “I just need to get this going and I’ll be good…”

    “This is a long term play…”

    I made that mistake early in my career. Now, I have an eye on the future and have an idea of what it will look like, but I am flexible enough to deal with anything thrown at me.

    What can you do today to help you?

    • b says

      I aim where I want to go and push in that direction. It’s like you’re steering a ship. You can steer yourself in that direction (This is where your RAS comes in).

      • Wall Street Playboys says

        Correct.

        When you’re young you’re in a jet ski. You can go fast and achieve a lot of you go int he right direction. You can also change courses rapidly

        As you get older you turn into a tanker ship. Yes you can turn around but it takes more time, is more painful, and the path you decided to take will impact your options quite a bit.

        Ocean travel is a great analogy for life.

  32. Gordon says

    You’re not physically developed and anyone who has legitimate sports experience (see college athlete at minimum), knows you want to avoid serious “body building” type activity until you’re at least in university.

    Great answer…what do you mean by this whole thing about avoiding any squatting or body building type activity? Thank you.

    • Wall Street Playboys says

      Yes. Avoid heavy weights that would be loaded on your shoulders/neck area.

      Generally, the best form of weight training is with resistance bands at this time. That is what athletes are using until they are developed. It does incredible things for your speed, strength and coordination.

      Many guys hit a growth spurt in their mid teens and another one in their late teens. Don’t choose bulk over your natural height.

  33. says

    Great advice for any man at any age. In order to reach a consistent high level of happiness, a man must discipline his mind, discipline what he does every waking hour, live for himself first and never compromise what you want to do in life. Always have a mission and goals personally and professionally and push yourself outside your comfort zone. I learned the hard way, trial and error. Take in the advice and take action by doing and not just reading. Doers win, intellectuals that just read compete at best but never win with happiness.

  34. kaeleb says

    Typo above 5) True independence

    “In Short: You will no longer we swayed”

    Not pointing it out to be an asshole, but I know you guys would be annoyed by this and want to change it immediately.

    P.S. Great article. One of the best blogs on the internet

    • Wall Street Playboys says

      Thanks!

      We are happy with these types of edits because they are real errors. We get tons of bs comments like “there are a few typos” which don’t help because we don’t have time to find them all and there will always be errors!

  35. Qu says

    This is my first time reading this blog, and I have to say it is absolutely amazing!
    The part that really got me introspective was the one about average guys. That is so me. I have to change, I need to change so I can improve as a human being.

  36. Ezrawr says

    Dear Wall Street Playboys,

    As a long-time reader of your site, I am forever grateful that a site like yours exist. Whatever you do, for the love of god, do not stop writing. I have never found myself agreeing most of the times with any blog, if I did, this one would be it.

    I have been reading this site for quite some time and the last part of this post hit home with me as I am in limbo right now due to a situation that involves missing out in terms of girls, partying, friends, social life, and most important, a college experience that has been a major disaster. It is a thought that is literally holding me back because even though I am not in my 30s yet, I feel like my life is done for.

    I missed out on the great parties, make outs with college girls, making great friends that could have helped me grow (though that has changed lately), vacations with my friends, and all of that led to depression which also led to a shitty GPA (2.0 – 2.5 range) in a major without any promising career prospects, and it was tough one as well (STEM but not engineering or technology). In many ways, I was practically the definition of a loser in almost all aspects.

    Some of it had to do with my mindset which was a result of years of helicopter parenting and an unstable childhood.

    Now even as I head on to my journey of self-improvement (mainly by lifting but also by looking for how I can make money), I am still possessed by those feelings of what I missed out on in college and every single day I ask myself “will it ever be that great in terms of social life and girls?”.

    I mean sure, even if I make money, I don’t know if I will ever have that chance to have a fun filled social life that involves attractive women, partying with fun friends, and just living it up every now and then. That feeling of being young and having endless opportunities to have a social life filled with fun loving energetic people that enjoy life. Just the feeling of being young and enjoying experiences with hot girls as you two go through the same phases in life.

    In some ways, I wonder if I am guilty of being a victim of American media and American society which pedestalizes social life, dating, and fun while you’re in your adolescence and early 20s.

    Even as I read this beautiful site which is a gold mine of information, I am still in this mindset of where I cannot escape the past and that is limiting my full potential. I identified the issue, if only I knew of a way to solve it.

    • Wall Street Playboys says

      Blog is probably not for you. Glad you were a long time reader but calling a spade a spade. Good luck in your future.

      Fun fact. The whole “lots of friends partying together getting along” is a complete myth sent out by females. No successful person sits around fucking around all day with the “boys and girls” like in that bullshit sitcom Friends

      If you make it in life, you will feel immense contempt for 99.9% of people…. they are shit. Just read the post on regular people.

      The only time you will spend getting “soo fucked up bro” is with you and some attractive girl. You’re not going to go to business meetings looking like trash and you’re not gong to waste your time hanging out at the local bar.

      • Ezrawr says

        Funny, I actually found your reply through your twitter.

        I find myself agreeing with so much stuff on this blog that I am inclined to stick around. Guess what my post was pointing at was whether this idea of a situation where higher value guys in their 30s come together, throw parties every now and then, and have this 30s version of a fraternity was a fantasy or whether something like that actually exists in life after college. Call it a guy who didn’t get a fraternity experience in college wanting to find something similar to that in the real world. That sense of a brotherhood.

        Call it being on top of the social hierarchy in life with other people you have made it too as you laugh and feel superior to some of the “normal” people who didn’t make it.

        Damn I wish I had an idea of just how different the social structures in the real world were different from college as the whole “Greek Life” thing in my college years caught me completely off balance, I thought to myself “damn I thought this cool kids shit ended in high school!”.

        No, I don’t want to hang with “commoners” at the club.

    • James Rustler says

      You need to work on your self talk and framing. Temporarily forget about WSP, fix your health and read Gorilla Mindset – that’s how you fix your problem. WSP will be here in 6 months.

      • JL says

        “I am still in this mindset of where I cannot escape the past and that is limiting my full potential. I identified the issue, if only I knew of a way to solve it.”

        yup.

        idk I can’t also escape my past, lol. It’s still there, and it fucking haunts me every once in a while.

        but cutting things short all you’re actually left with is embracing it instead of resenting it.

        hilariously, a better way to navigate it I personally found effective is the “stages of grief model”

        see link: https://s-media-cache-ak0.pinimg.com/736x/15/3a/a0/153aa04d40567aef7c6027ab422a14ec.jpg

        or google “Stages of grief”

        basically, it’s shock -> denial -> anger -> bargaining -> testing -> acceptance

        acceptance part is when you’re all cool with it.

        i think you’re somewhere between bargaining and testing, which is totally cool imo.

  37. joe says

    Aaaand? I realize i cannot share this awesome article to my facebook because the truth will suck to all those ‘friends’ out there.

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