Also, he later became a poet (a very good one, too, if I remember right) and early on in his life tried to be a pop singer. Feels a bit like that whole multi-decade career as founder and owner of a massive publishing empire was an odd detour for him.
Very fascinating person, and the book's definitely worth reading.
And yes, yes, of course there are good people out there too that just want (/need) money to get by, but it’s funny to read this and think about those with _lots_ of money
* https://en.wikipedia.org/wiki/The_Richest_Man_in_Babylon
Avoiding greed, envy, the hedonic treadmill, etc, will never not be good advice.
https://en.wikipedia.org/wiki/Ishida_Baigan
Two civilizations re-deriving the same short list from scratch is about the strongest version of your point — "outdated" just isn't the right axis for it.
Just because they're dead doesn't mean they were idiots. This is the young person's folly.
Then again, this attitude may be a substantial cause of what we define as progress. Gray areas are hard to figure out.
The private rules for the Robber Barons were almost the exact opposite of Barnum’s advice (build skills, avoid debt, work hard, be honest):
1. Control the Vocation of Others: Ensure you own the system in which others work. Vertical and horizontal integration of your businesses is the mechanism by which you ensure all the value created by labor ends up in your pocket.
2. Use Other People's Debt as a Weapon: Strategic debt is your friend, and you can generate corporate debt so vast it becomes a systemic threat. Ensure you have access to pools of capital, so that during a a panic you can buy assets for pennies on the dollar. Inflate the stock price of your holding company far beyond its actual assets, and become a giant creditor. If your debt-financed bet fails, ensure the bag is held by the public. Privatize the gains, socialize the risks.
3. Whatever You Own, Defend With All Your Political Might: You need the ability to shape legislation, control the courts, and deploy state violence to protect your assets and destroy competition. Bribery, lobbying and blackmail are your tools. Those political expenditures are your real insurance policy when your assets are threatened by populist anger or economic chaos, and will also grease expansion into new markets and help you capture foreign resources (oil, bananas, etc.).
4. Control the Definition of Integrity: Never break the law and steal from business partners; instead, change the laws to make your actions legally defensible in court. Claim that the only integrity that matters is the confidence of the capital markets. Stock manipulation, bribery of politicians, and crushing competition with frivolous patent lawsuits are just enterprise, public service, and fairness. Your integrity is your public image as a builder and a captain of industry. Hire biographers and buy newspapers to tell this story.
Finally, blame the victim. Tell the destitute it’s their own fault that they hadn’t figured out how to successfully navigate a system designed to strip their wealth from them and hand it over to the monopolists. This same self-help message of ‘individual responsibility for your economic condition’ is constantly pumped out to the American public today by an endless stream of self-help books in the Robber Baron 2.0 era, and for the same reasons.
I didn't have any special talents, outstanding skills, or privileges. In my twenties, I worked 69 hours a week for two straight years. Yet, I only made minimum wage and had nothing to show for it. I didn't develop any meaningful skills, either. Simply putting in the effort didn't guarantee I would get everything.
Ironically, it was the choices I made during my downtime—taking a step back, reflecting, and reorganizing my thoughts—that actually allowed me to earn more money. Even then, the working hours were much shorter, around 52 hours a week. That choice was programming. (Though, to be fair, even that is getting tougher now because of LLMs.)
My conclusion is that all advice from successful people is heavily packaged. I constantly think about the concept of 'effort.' What exactly is genuine effort? What is deliberate practice? In modern capitalism, the kind of effort that gets rewarded isn't trading time for money; true success lies in building assets that decouple your time from your income.
However, even that feels somewhat meaningless to me now. If we constantly assign value to everything and strive only to be the 'best,' I'm always left wondering: does that make me a meaningless person?
Looking at it coldly, I am heading into my mid-thirties, and I have only just finished paying off my student loans and the debt I incurred from being scammed. I don't have a fancy degree, nor have I built a globally renowned program.
My bank account currently sits at $30, and I'm worried about next month's rent. But because I've survived so many different grinds, I have the confidence that I'll figure out a way to live on somehow. Though, I do feel a bit regretful about not having been married yet.
More importantly, though, I feel that the more value we place purely on money, the more the other joys of life fade away. Living life itself is an effort. Pausing to look back is also an effort. The only thing that truly renders the time in our lives meaningless is believing that the 'present me' has nothing left to learn from the 'past me.' Everything I've gone through has definitively helped me in some way.
I believe these types of books are ultimately just acts of assigning arbitrary values to sell copies. They manufacture the idea that their specific worldview is the 'correct' one just to collect book royalties and speaking fees. But the way I see it, life is not built on these linear values. Life rests on non-linearity.
The more you try to cram life into a linear framework, the more you inevitably lose the non-linear values. Think about how computers represent numbers. Human cognition perceives a continuous, infinite line, but computers represent it as discrete dots (floating-point numbers), right? I believe there is a similar kind of 'precision loss' in life when forced into linearity.
Capitalism defines surplus, "meaningless" time as an inefficiency and preaches that we must try our absolute best at all times. But from everything I know, the world simply doesn't work that way. There are only people who desperately want to believe it works that way.
Some people waste their time on a stack of paper filled with mere letters. Some waste it making images appear on a computer screen. Others shed tears while watching television. None of these actions make absolute logical sense, and I believe life is precisely the sum total of all these incomprehensible acts.
I highly doubt whether it is right to confine the entirety of life into a tiny box called 'success.' I believe the shape of that 'success box' depends entirely on the shape of one's own life. From that perspective, the showman's text doesn't address the complex leverage required in modern society; it simply looks like a tool designed to sell the false illusion of the American Dream.
Things looking good is not necessarily the same as things working out financially.