Why I quit a $500K job at Amazon to work for myself
I quit my 8-year Amazon job last week. I wasn't motivated to do another year despite promotions, pay, recognition, and praise.
In AWS, I built developer tools. I could have worked in that field forever.
I became an Amazon developer. Within 3.5 years, I was promoted twice to senior engineer and would have been promoted to principal engineer if I stayed. The company said I had great potential.
Over time, I became a reputed expert and leader within the company. I was respected.
First year I made $75K, last year $511K. If I stayed another two years, I could have made $1M.
Despite Amazon's reputation, my work–life balance was good. I no longer needed to prove myself and could do everything in 40 hours a week. My team worked from home once a week, and I rarely opened my laptop nights or weekends.
My coworkers were great. I had three generous, empathetic managers. I’m very grateful to everyone I worked with.
Everything was going well and getting better. My motivation to go to work each morning was declining despite my career and income growth.
Another promotion, pay raise, or big project wouldn't have boosted my motivation. Motivation was also waning. It was my freedom.
Demotivation
My motivation was high in the beginning. I worked with someone on an internal tool with little scrutiny. I had more freedom to choose how and what to work on than in recent years. Me and another person improved it, talked to users, released updates, and tested it. Whatever we wanted, we did. We did our best and were mostly self-directed.
In recent years, things have changed. My department's most important project had many stakeholders and complex goals. What I could do depended on my ability to convince others it was the best way to achieve our goals.
Amazon was always someone else's terms. The terms started out simple (keep fixing it), but became more complex over time (maximize all goals; satisfy all stakeholders). Working in a large organization imposed restrictions on how to do the work, what to do, what goals to set, and what business to pursue. This situation forced me to do things I didn't want to do.
Finding New Motivation
What would I do forever? Not something I did until I reached a milestone (an exit), but something I'd do until I'm 80. What could I do for the next 45 years that would make me excited to wake up and pay my bills? Is that too unambitious? Nope. Because I'm motivated by two things.
One is an external carrot or stick. I'm not forced to file my taxes every April, but I do because I don't want to go to jail. Or I may not like something but do it anyway because I need to pay the bills or want a nice car. Extrinsic motivation
One is internal. When there's no carrot or stick, this motivates me. This fuels hobbies. I wanted a job that was intrinsically motivated.
Is this too low-key? Extrinsic motivation isn't sustainable. Getting promoted felt good for a week, then it was over. When I hit $100K, I admired my W2 for a few days, but then it wore off. Same thing happened at $200K, $300K, $400K, and $500K. Earning $1M or $10M wouldn't change anything. I feel the same about every material reward or possession. Getting them feels good at first, but quickly fades.
Things I've done since I was a kid, when no one forced me to, don't wear off. Coding, selling my creations, charting my own path, and being honest. Why not always use my strengths and motivation? I'm lucky to live in a time when I can work independently in my field without large investments. So that’s what I’m doing.
What’s Next?
I'm going all-in on independence and will make a living from scratch. I won't do only what I like, but on my terms. My goal is to cover my family's expenses before my savings run out while doing something I enjoy. What more could I want from my work?
You can now follow me on Twitter as I continue to document my journey.
This post is a summary. Read full article here
More on Personal Growth
James White
3 years ago
I read three of Elon Musk's suggested books (And His Taste Is Incredible)
A reading list for successful people
Elon Musk reads and talks. So, one learns. Many brilliant individuals & amazing literature.
This article recommends 3 Elon Musk novels. All of them helped me succeed. Hope they'll help you.
Douglas Adams's The Hitchhiker's Guide to the Galaxy
Page Count: 193
Rating on Goodreads: 4.23
Arthur Dent is pulled off Earth by a buddy seconds before it's razed for a cosmic motorway. The trio hitchhikes through space and gets into problems.
I initially read Hitchhiker's as a child. To evade my mum, I'd read with a flashlight under the covers. She'd scold at me for not sleeping on school nights when she found out. Oops.
The Hitchhiker's Guide to the Galaxy is lighthearted science fiction.
My favorite book quotes are:
“Space is big. You won’t believe how vastly, hugely, mind-bogglingly big it is. I mean, you may think it’s a long way down the road to the chemist’s, but that’s just peanuts to space.”
“Far out in the uncharted backwaters of the unfashionable end of the western spiral arm of the Galaxy lies a small unregarded yellow sun. Orbiting this at a distance of roughly ninety-two million miles is an utterly insignificant little blue-green planet whose ape-descended life forms are so amazingly primitive that they still think digital watches are a pretty neat idea.”
“On planet Earth, man had always assumed that he was more intelligent than dolphins because he had achieved so much — the wheel, New York, wars, and so on — whilst all the dolphins had ever done was muck about in the water having a good time. But conversely, the dolphins had always believed that they were far more intelligent than man — for precisely the same reasons.”
the Sun Tzu book The Art Of War
Page Count: 273
Rating on Goodreads: 3.97
It's a classic. You may apply The Art of War's ideas to (nearly) every facet of life. Ex:
Pick your fights.
Keep in mind that timing is crucial.
Create a backup plan in case something goes wrong.
Obstacles provide us a chance to adapt and change.
This book was my first. Since then, I'm a more strategic entrepreneur. Excellent book. And read it ASAP!
My favorite book quotes are:
“Victorious warriors win first and then go to war, while defeated warriors go to war first and then seek to win.”
“Engage people with what they expect; it is what they are able to discern and confirms their projections. It settles them into predictable patterns of response, occupying their minds while you wait for the extraordinary moment — that which they cannot anticipate.”
“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained, you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.”
Peter Thiel's book Zero to One
Page Count: 195
Rating on Goodreads: 4.18
Peter argues the best money-making strategies are typically unproven. Entrepreneurship should never have a defined path to success. Whoever says differently is lying.
Zero to One explores technology and society. Peter is a philosophy major and law school graduate, which informs the work.
Peters' ideas, depth, and intellect stood out in Zero to One. It's a top business book.
My favorite book quotes are:
“The most valuable businesses of coming decades will be built by entrepreneurs who seek to empower people rather than try to make them obsolete.”
“The next Bill Gates will not build an operating system. The next Larry Page or Sergey Brin won’t make a search engine. And the next Mark Zuckerberg won’t create a social network. If you are copying these guys, you aren’t learning from them.”
“If your goal is to never make a mistake in your life, you shouldn’t look for secrets. The prospect of being lonely but right — dedicating your life to something that no one else believes in — is already hard. The prospect of being lonely and wrong can be unbearable.”
Mia Gradelski
3 years ago
Six Things Best-With-Money People Do Follow
I shouldn't generalize, yet this is true.
Spending is simpler than earning.
Prove me wrong, but with home debt at $145k in 2020 and individual debt at $67k, people don't have their priorities straight.
Where does this loan originate?
Under-50 Americans owed $7.86 trillion in Q4 20T. That's more than the US's 3-trillion-dollar deficit.
Here’s a breakdown:
🏡 Mortgages/Home Equity Loans = $5.28 trillion (67%)
🎓 Student Loans = $1.20 trillion (15%)
🚗 Auto Loans = $0.80 trillion (10%)
💳 Credit Cards = $0.37 trillion (5%)
🏥 Other/Medical = $0.20 trillion (3%)
Images.google.com
At least the Fed and government can explain themselves with their debt balance which includes:
-Providing stimulus packages 2x for Covid relief
-Stabilizing the economy
-Reducing inflation and unemployment
-Providing for the military, education and farmers
No American should have this much debt.
Don’t get me wrong. Debt isn’t all the same. Yes, it’s a negative number but it carries different purposes which may not be all bad.
Good debt: Use those funds in hopes of them appreciating as an investment in the future
-Student loans
-Business loan
-Mortgage, home equity loan
-Experiences
Paying cash for a home is wasteful. Just if the home is exceptionally uncommon, only 1 in a million on the market, and has an incredible bargain with numerous bidders seeking higher prices should you do so.
To impress the vendor, pay cash so they can sell it quickly. Most people can't afford most properties outright. Only 15% of U.S. homebuyers can afford their home. Zillow reports that only 37% of homes are mortgage-free.
People have clearly overreached.
Ignore appearances.
5% down can buy a 10-bedroom mansion.
Not paying in cash isn't necessarily a negative thing given property prices have increased by 30% since 2008, and throughout the epidemic, we've seen work-from-homers resort to the midwest, avoiding pricey coastal cities like NYC and San Francisco.
By no means do I think NYC is dead, nothing will replace this beautiful city that never sleeps, and now is the perfect time to rent or buy when everything is below average value for people who always wanted to come but never could. Once social distance ends, cities will recover. 24/7 sardine-packed subways prove New York isn't designed for isolation.
When buying a home, pay 20% cash and the balance with a mortgage. A mortgage must be incorporated into other costs such as maintenance, brokerage fees, property taxes, etc. If you're stuck on why a home isn't right for you, read here. A mortgage must be paid until the term date. Whether its a 10 year or 30 year fixed mortgage, depending on interest rates, especially now as the 10-year yield is inching towards 1.25%, it's better to refinance in a lower interest rate environment and pay off your debt as well since the Fed will be inching interest rates up following the 10-year eventually to stabilize the economy, but I believe that won't be until after Covid and when businesses like luxury, air travel, and tourism will get bashed.
Bad debt: I guess the contrary must be true. There is no way to profit from the loan in the future, therefore it is just money down the drain.
-Luxury goods
-Credit card debt
-Fancy junk
-Vacations, weddings, parties, etc.
Credit cards and school loans are the two largest risks to the financial security of those under 50 since banks love to compound interest to affect your credit score and make it tougher to take out more loans, not that you should with that much debt anyhow. With a low credit score and heavy debt, banks take advantage of you because you need aid to pay more for their services. Paying back debt is the challenge for most.
Choose Not Chosen
As a financial literacy advocate and blogger, I prefer not to brag, but I will now. I know what to buy and what to avoid. My parents educated me to live a frugal, minimalist stealth wealth lifestyle by choice, not because we had to.
That's the lesson.
The poorest person who shows off with bling is trying to seem rich.
Rich people know garbage is a bad investment. Investing in education is one of the best long-term investments. With information, you can do anything.
Good with money shun some items out of respect and appreciation for what they have.
Less is more.
Instead of copying the Joneses, use what you have. They may look cheerful and stylish in their 20k ft home, yet they may be as broke as OJ Simpson in his 20-bedroom mansion.
Let's look at what appears good to follow and maintain your wealth.
#1: Quality comes before quantity
Being frugal doesn't entail being cheap and cruel. Rich individuals care about relationships and treating others correctly, not impressing them. You don't have to be rich to be good with money, although most are since they don't live the fantasy lifestyle.
Underspending is appreciating what you have.
Many people believe organic food is the same as washing chemical-laden produce. Hopefully. Organic, vegan, fresh vegetables from upstate may be more expensive in the short term, but they will help you live longer and save you money in the long run.
Consider. You'll save thousands a month eating McDonalds 3x a day instead of fresh seafood, veggies, and organic fruit, but your life will be shortened. If you want to save money and die early, go ahead, but I assume we all want to break the world record for longest person living and would rather spend less. Plus, elderly people get tax breaks, medicare, pensions, 401ks, etc. You're living for free, therefore eating fast food forever is a terrible decision.
With a few longer years, you may make hundreds or millions more in the stock market, spend more time with family, and just live.
Folks, health is wealth.
Consider the future benefit, not simply the cash sign. Cheapness is useless.
Same with stuff. Don't stock your closet with fast-fashion you can't wear for years. Buying inexpensive goods that will fail tomorrow is stupid.
Investing isn't only in stocks. You're living. Consume less.
#2: If you cannot afford it twice, you cannot afford it once
I learned this from my dad in 6th grade. I've been lucky to travel, experience things, go to a great university, and conduct many experiments that others without a stable, decent lifestyle can afford.
I didn't live this way because of my parents' paycheck or financial knowledge.
Saving and choosing caused it.
I always bring cash when I shop. I ditch Apple Pay and credit cards since I can spend all I want on even if my account bounces.
Banks are nasty. When you lose it, they profit.
Cash hinders banks' profits. Carrying a big, hefty wallet with cash is lame and annoying, but it's the best method to only spend what you need. Not for vacation, but for tiny daily expenses.
Physical currency lets you know how much you have for lunch or a taxi.
It's physical, thus losing it prevents debt.
If you can't afford it, it will harm more than help.
#3: You really can purchase happiness with money.
If used correctly, yes.
Happiness and satisfaction differ.
It won't bring you fulfillment because you must work hard on your own to help others, but you can travel and meet individuals you wouldn't otherwise meet.
You can meet your future co-worker or strike a deal while waiting an hour in first class for takeoff, or you can meet renowned people at a networking brunch.
Seen a pattern here?
Your time and money are best spent on connections. Not automobiles or firearms. That’s just stuff. It doesn’t make you a better person.
Be different if you've earned less. Instead of trying to win the lotto or become an NFL star for your first big salary, network online for free.
Be resourceful. Sign up for LinkedIn, post regularly, and leave unengaged posts up because that shows power.
Consistency is beneficial.
I did that for a few months and met amazing people who helped me get jobs. Money doesn't create jobs, it creates opportunities.
Resist social media and scammers that peddle false hopes.
Choose wisely.
#4: Avoid gushing over titles and purchasing trash.
As Insider’s Hillary Hoffower reports, “Showing off wealth is no longer the way to signify having wealth. In the US particularly, the top 1% have been spending less on material goods since 2007.”
I checked my closet. No brand comes to mind. I've never worn a brand's logo and rotate 6 white shirts daily. I have my priorities and don't waste money or effort on clothing that won't fit me in a year.
Unless it's your full-time work, clothing shouldn't be part of our mornings.
Lifestyle of stealth wealth. You're so fulfilled that seeming homeless won't hurt your self-esteem.
That's self-assurance.
Extroverts aren't required.
That's irrelevant.
Showing off won't win you friends.
They'll like your personality.
#5: Time is the most valuable commodity.
Being rich doesn't entail working 24/7 M-F.
They work when they are ready to work.
Waking up at 5 a.m. won't make you a millionaire, but it will inculcate diligence and tenacity in you.
You have a busy day yet want to exercise. You can skip the workout or wake up at 4am instead of 6am to do it.
Emotion-driven lazy bums stay in bed.
Those that are accountable keep their promises because they know breaking one will destroy their week.
Since 7th grade, I've worked out at 5am for myself, not to impress others. It gives me greater energy to contribute to others, especially on weekends and holidays.
It's a habit that I have in my life.
Find something that you take seriously and makes you a better person.
As someone who is close to becoming a millionaire and has encountered them throughout my life, I can share with you a few important differences that have shaped who we are as a society based on the weekends:
-Read
-Sleep
-Best time to work with no distractions
-Eat together
-Take walks and be in nature
-Gratitude
-Major family time
-Plan out weeks
-Go grocery shopping because health = wealth
#6. Perspective is Important
Timing the markets will slow down your career. Professors preach scarcity, not abundance. Why should school teach success? They give us bad advice.
If you trust in abundance and luck by attempting and experimenting, growth will come effortlessly. Passion isn't a term that just appears. Mistakes and fresh people help. You can get money. If you don't think it's worth it, you won't.
You don’t have to be wealthy to be good at money, but most are for these reasons. Rich is a mindset, wealth is power. Prioritize your resources. Invest in yourself, knowing the toughest part is starting.
Thanks for reading!
Sad NoCoiner
3 years ago
Two Key Money Principles You Should Understand But Were Never Taught
Prudence is advised. Be debt-free. Be frugal. Spend less.
This advice sounds nice, but it rarely works.
Most people never learn these two money rules. Both approaches will impact how you see personal finance.
It may safeguard you from inflation or the inability to preserve money.
Let’s dive in.
#1: Making long-term debt your ally
High-interest debt hurts consumers. Many credit cards carry 25% yearly interest (or more), so always pay on time. Otherwise, you’re losing money.
Some low-interest debt is good. Especially when buying an appreciating asset with borrowed money.
Inflation helps you.
If you borrow $800,000 at 3% interest and invest it at 7%, you'll make $32,000 (4%).
As money loses value, fixed payments get cheaper. Your assets' value and cash flow rise.
The never-in-debt crowd doesn't know this. They lose money paying off mortgages and low-interest loans early when they could have bought assets instead.
#2: How To Buy Or Build Assets To Make Inflation Irrelevant
Dozens of studies demonstrate actual wage growth is static; $2.50 in 1964 was equivalent to $22.65 now.
These reports never give solutions unless they're selling gold.
But there is one.
Assets beat inflation.
$100 invested into the S&P 500 would have an inflation-adjusted return of 17,739.30%.
Likewise, you can build assets from nothing. Doing is easy and quick. The returns can boost your income by 10% or more.
The people who obsess over inflation inadvertently make the problem worse for themselves. They wait for The Big Crash to buy assets. Or they moan about debt clocks and spending bills instead of seeking a solution.
Conclusion
Being ultra-prudent is like playing golf with a putter to avoid hitting the ball into the water. Sure, you might not slice a drive into the pond. But, you aren’t going to play well either. Or have very much fun.
Money has rules.
Avoiding debt or investment risks will limit your rewards. Long-term, being too cautious hurts your finances.
Disclaimer: This article is for entertainment purposes only. It is not financial advice, always do your own research.
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Jon Brosio
3 years ago
Every time I use this 6-part email sequence, I almost always make four figures.
(And you can have it for free)
Master email to sell anything.
Most novice creators don't know how to begin.
Many use online templates. These are usually fluff-filled and niche-specific.
They're robotic and "salesy."
I've attended 3 courses, read 10 books, and sent 600,000 emails in the past five years.
Outcome?
This *proven* email sequence assures me a month's salary every time I send it.
What you will discover in this article is that:
A full 6-part email sales cycle
The essential elements you must incorporate
placeholders and text-filled images
(Applies to any niche)
This can be a product introduction, holiday, or welcome sequence. This works for email-saleable products.
Let's start
Email 1: Describe your issue
This email is crucial.
How to? We introduce a subscriber or prospect's problem. Later, we'll frame our offer as the solution.
Label the:
Problem
Why it still hasn't been fixed
Resulting implications for the customer
This puts our new subscriber in solve mode and queues our offer:
Email 2: Amplify the consequences
We're still causing problems.
We've created the problem, but now we must employ emotion and storytelling to make it real. We also want to forecast life if nothing changes.
Let's feel:
What occurs if it is not resolved?
Why is it crucial to fix it immediately?
Tell a tale of a person who was in their position. To emphasize the effects, use a true account of another person (or of yourself):
Email 3: Share a transformation story
Selling stories.
Whether in an email, landing page, article, or video. Humanize stories. They give information meaning.
This is where "issue" becomes "solution."
Let's reveal:
A tale of success
A new existence and result
tools and tactics employed
Start by transforming yourself.
Email 4: Prove with testimonials
No one buys what you say.
Emotionally stirred people buy and act. They believe in the product. They feel that if they buy, it will work.
Social proof shows prospects that your solution will help them.
Add:
Earlier and Later
Testimonials
Reviews
Proof this deal works:
Email 5: Reveal your offer
It's showtime.
This is it. Until now, describing the offer and offering links to a landing page have been sparse in the email pictures.
We've been tense. Gaining steam. Building suspense. Email 5 reveals all.
In this email:
a description of the deal
A word about a promise
recapitulation of the transformation
and make a reference to the urgency Everything should be spelled out clearly:
Email no. 6: Instill urgency
When there are stakes, humans act.
Creating and marketing with haste raises the stakes. Urgency makes a prospect act because they'll miss out or gain immensely.
Urgency converts. Use:
short time
Screening
Scarcity
Urgency and conversions. Limited-time offers are easy.
TL;DR
Use this proven 6-part email sequence (that turns subscribers into profit):
Introduce a problem
Amplify it with emotions
Share transformation story
Prove it works with testimonials
Value-stack and present your offer
Drive urgency and entice the purchase
Sam Hickmann
3 years ago
What is this Fed interest rate everybody is talking about that makes or breaks the stock market?
The Federal Funds Rate (FFR) is the target interest rate set by the Federal Reserve System (Fed)'s policy-making body (FOMC). This target is the rate at which the Fed suggests commercial banks borrow and lend their excess reserves overnight to each other.
The FOMC meets 8 times a year to set the target FFR. This is supposed to promote economic growth. The overnight lending market sets the actual rate based on commercial banks' short-term reserves. If the market strays too far, the Fed intervenes.
Banks must keep a certain percentage of their deposits in a Federal Reserve account. A bank's reserve requirement is a percentage of its total deposits. End-of-day bank account balances averaged over two-week reserve maintenance periods are used to determine reserve requirements.
If a bank expects to have end-of-day balances above what's needed, it can lend the excess to another institution.
The FOMC adjusts interest rates based on economic indicators that show inflation, recession, or other issues that affect economic growth. Core inflation and durable goods orders are indicators.
In response to economic conditions, the FFR target has changed over time. In the early 1980s, inflation pushed it to 20%. During the Great Recession of 2007-2009, the rate was slashed to 0.15 percent to encourage growth.
Inflation picked up in May 2022 despite earlier rate hikes, prompting today's 0.75 percent point increase. The largest increase since 1994. It might rise to around 3.375% this year and 3.1% by the end of 2024.
Monroe Mayfield
2 years ago
CES 2023: A Third Look At Upcoming Trends
Las Vegas hosted CES 2023. This third and last look at CES 2023 previews upcoming consumer electronics trends that will be crucial for market share.
Definitely start with ICT. Qualcomm CEO Cristiano Amon spoke to CNBC from Las Vegas on China's crackdown and the company's automated driving systems for electric vehicles (EV). The business showed a concept car and its latest Snapdragon processor designs, which offer expanded digital interactions through SalesForce-partnered CRM platforms.
Electrification is reviving Michigan's automobile industry. Michigan Local News reports that $14 billion in EV and battery manufacturing investments will benefit the state. The report also revealed that the Strategic Outreach and Attraction Reserve (SOAR) fund had generated roughly $1 billion for the state's automotive sector.
Ars Technica is great for technology, society, and the future. After CES 2023, Jonathan M. Gitlin published How many electric car chargers are enough? Read about EV charging network issues and infrastructure spending. Politics aside, rapid technological advances enable EV charging network expansion in American cities and abroad.
Finally, the UNEP's The Future of Electric Vehicles and Material Resources: A Foresight Brief. Understanding how lithium-ion batteries will affect EV sales is crucial. Climate change affects EVs in various ways, but electrification and mining trends stand out because more EVs demand more energy-intensive metals and rare earths. Areas & Producers has been publishing my electrification and mining trends articles. Follow me if you wish to write for the publication.
The Weekend Brief (TWB) will routinely cover tech, industrials, and global commodities in global markets, including stock markets. Read more about the future of key areas and critical producers of the global economy in Areas & Producers.