#703 – Patrick Bet-David – Why Does No One Trust The Media Anymore? | Modern Wisdom

Intro

In this episode of the “Modern Wisdom” podcast, host Chris Williamson interviews Patrick Bet-David, the CEO of PHP Agency and author of “Your Next Five Moves.” They delve into the topic of trust in the media and explore various aspects of love, success, enemies, and the current state of the world. Bet-David shares his insights and experiences, providing valuable perspectives on these subjects.

Main Takeaways

The Importance of Enemies for Personal Growth

• We have internalized the voice inside our own head, which may have come from the outside world, and it can become our own worst enemy.
• The function of an enemy is to bring out a side of ourselves we’ve never seen before, and it can be enjoyable and fulfilling to have a target to aim for.
• Choosing enemies wisely is crucial for success.
• Understanding the reason for one’s drive is more important than accolades or material possessions.

The Power of Love and Relationships

• Love is a unique relationship that involves risk and hard work, but it can also be exhilarating and exciting.
• Some people nowadays don’t want to get married or have kids because they don’t want the responsibilities or risk of heartbreak.
• Love can be defined as a feeling, emotion, or verb, and it can be challenging to show love when physically separated from someone.
• Unconditional love is essential for success, even if it’s just from one person.
• Pain from a loved one who cannot be won over is necessary for growth.

The Role of Enemies in Business and Media

• Podcast host Chris Williamson is detail-oriented, maniacal, and has a vision for hand-selecting guests.
• Examples of companies that failed despite raising a lot of money: Kmart vs Walmart, Quibi.
• Having enemies can be a toxic fuel and can signal insecurity and love status.
• Optics are important for signaling status, and having enemies for too long can become toxic.
• The market is brutal and always right, and it will choose what concepts will succeed or not.

The Media Landscape and Trust

• Podcasts are gaining trust from people who want to hear from regular individuals rather than mainstream media.
• Mainstream media is only being kept in business by older generations and big pharma advertising.
• If big pharma advertising were to be banned on mainstream media, 80% of revenue would be lost and many talented individuals would lose their jobs.
• The internet needs more signal, not noise.
• People are looking for reasonable perspectives to lower overreactions in the current crisis.

Insights on Relationships and Parenting

• The dating scene today is very different than what it was when the speaker was single.
• Shopify is a reliable platform for businesses to sell their products across multiple channels.
• Generational housing is a growing trend in Austin, where families purchase land and build communal homes for multiple generations to live together.
• It’s important for parents to believe in their children more than they pity them.
• Having a combination of a gentle parent and a parent who pushes you to do better is ideal.

Summary

The Importance of Enemies for Personal Growth

Patrick Bet-David emphasizes the significance of choosing enemies wisely for personal growth. By internalizing the voice inside our heads, which may have originated from external sources, we can become our own worst enemy. However, having a target to aim for and understanding the reason for our drive can lead to fulfilling growth and success.

The Power of Love and Relationships

Love is a complex relationship that involves risk and hard work, but it can also bring exhilaration and excitement. Bet-David discusses how some individuals today avoid marriage and children due to the fear of responsibilities and heartbreak. He highlights the importance of unconditional love for personal and professional success, as well as the necessity of experiencing pain from unrequited love for personal growth.

The Role of Enemies in Business and Media

Examining the role of enemies in business and media, Bet-David shares insights on the importance of choosing enemies wisely. He discusses examples of companies that failed despite raising significant funds and emphasizes the need to understand the reason behind one’s drive, rather than focusing solely on accolades or material possessions. Bet-David also highlights the potential toxicity of having enemies for too long and the importance of optics in signaling status.

The Media Landscape and Trust

Bet-David explores the evolving media landscape and the growing trust in podcasts as an alternative to mainstream media. He suggests that mainstream media is predominantly sustained by older generations and big pharma advertising. Bet-David raises questions about the impact of banning big pharma advertising on mainstream media’s revenue and the need for more signal and reasonable perspectives on the internet.

Insights on Relationships and Parenting

Bet-David shares his observations on the changing dating scene and the reliability of platforms like Shopify for businesses. He also discusses the emerging trend of generational housing in Austin, where families build communal homes for multiple generations to live together. Bet-David emphasizes the importance of parents believing in their children and providing a balance between gentle support and pushing them to do better.

Conclusion

Patrick Bet-David’s conversation with Chris Williamson on the “Modern Wisdom” podcast provides valuable insights into the importance of enemies for personal growth, the power of love and relationships, the role of enemies in business and media, the media landscape and trust, and insights on relationships and parenting. Bet-David’s perspectives offer thought-provoking ideas and encourage listeners to reflect on their own lives and choices.