July 8, 2025 • 25 mins
Is the American Dream still alive, or has it evolved into something else? We journey through the origins of the American Dream, its shifting meaning across generations, and whether today’s economy still rewards effort the way it once did. From wage stagnation to skyrocketing home prices, from generational divides to the influence of social media on our financial expectations, this Pocket Byte explores whether we're chasing a dream that's no longer real… or simply redefining what success looks like in the 21st century.
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Episode Transcript
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(00:00):
Welcome back to
(00:00):
the Wealth Effect.
Today, we're asking a question that is
at the heart of what it
means to live in America.
The American Dream.
For generations, the
American Dream was simple.
Work hard, play by the rules, and
you'll be rewarded with homeownership,
stable income, upward mobility,
a better life for your kids.
(00:22):
For generations, the
American dream was simple.
Work hard, play by the rules, and
you'll be rewarded with homeownership,
stable income, upward mobility, and
a better life for your
kids than what you had.
But along the way, it
started to break down.
College degrees didn't
(00:43):
guarantee good jobs.
Wages stagnated.
Housing prices fell
out of control.
Healthcare
became a gamble.
The gap between the rich
and everyone else got wider.
So what happened?
Did the American
dream die?
Or was it more of
a myth than a map?
Today, we're unpacking the
(01:04):
truth behind the American dream.
How it started, who it was really meant
for, what changed, and whether a new dream
needs to rise
in its place.
Let's fill
your pocket.
To understand whether the American dream
is still alive, we have to travel back,
not just to a phrase coined, but to the
(01:25):
psyche of a young nation
carving out its identity.
The term American dream was first
defined by James Truslow Adams in 1931,
a year of
desperation.
The Great Depression
had gutted the economy.
Soup lines wrapped
around city blocks.
(01:45):
Farms were lost.
The future
was uncertain.
Yet, Adams wrote in the epic of America,
a dream, a vision, not just of material
wealth alone, but, as he put it, a
better, richer, and fuller life for
everyone with opportunity for each,
(02:06):
according to their ability or achievement.
It wasn't about being
handed down riches.
It was about earning
dignity through effort.
A nation of individuals
rising by merit.
But here's where
we might pause.
As history always carries tension,
the dream, from its origin, was
(02:28):
aspirational, but never
universally accessible.
After World War II, the American dream
entered what many remembered
as the golden era.
The 1950s to
the 1970s.
Soldiers returned home
to a booming economy.
GI bills paved the
way for education.
(02:49):
Suburbs sprang up with
affordable mortgages.
Manufacturing jobs offered pension,
security, and a path to the middle class.
It looked like the American
dream was alive and thriving.
But again,
for whom?
While one side of America was rising,
the other was still being
systemically held down.
Redlining, where the government-sanctioned
(03:11):
housing discrimination, ensured that
entire communities of color remained
locked out of wealth-building
opportunities.
Native Americans
remained marginalized.
Asian immigrants faced quotas and
cultural exclusion, while
Latino labor was exploited.
And for many, it
was never easier.
Only harder, only
(03:32):
harder, by design.
The American dream was
built on a contradiction.
Equal opportunity,
on unequal ground.
And yet, despite that
contradiction, it endured.
Why?
Because even a flawed
dream can mobilize hope.
It tells children in the crowded
apartments that their future isn't
(03:52):
determined by
their zip code.
It tells the immigrant with broken
English that their work matters.
It tells the factory worker, the waitress,
the coder, the creator, you matter.
Your efforts
matter.
The power of the dream
wasn't about its perfection.
It was in its
possibility.
(04:12):
It gave direction to generations
who needed something to strive for.
Not a guarantee, but
a guiding compass.
But nearly a century after Adams wrote
those words, we have to ask, has the dream
evolved or
has it eroded?
Is it still rooted in
(04:33):
effort and achievement?
Or has it been hijacked by
consumerism, status, and inequity?
The origin of the American dream wasn't
about a mansion or a Tesla or going viral.
It was about freedom through effort,
dignity through work, and
mobility through merit.
(04:55):
Unless we understand its true beginning,
the hope will never be able to truly
answer the question
that matters the most.
Is the American dream
still worth chasing?
Or is it time
for a new dream?
Fast forwarding to the present day, and
the fractures in the foundation of the
(05:15):
American dream are no
longer theoretical.
The scaffolding that once held a shared
vision of prosperity is now splintered
under the way of
the modern economy.
For millennials and Gen Z, it doesn't
feel like the dream is out of reach.
It feels like the dream
was a scam from the start.
(05:36):
They were sold
a blueprint.
Go to school.
Take on loans.
Work hard.
Buy a home.
Start a family.
And retire in peace.
But they followed these steps
and found a different ending.
Instead of security, instead of
security, they got decades of debt.
Instead of home ownership,
they got skyrocketing rents.
(05:57):
And down payments
they couldn't touch.
Instead of careers, they got gig
work, contract jobs, and layoffs.
Thinly veiled as
restructuring.
Instead of peace of mind, they got
anxiety, burnout, and
a mental health crisis.
The obstacles aren't
just personal.
Wages have stagnated for decades
(06:18):
despite rising productivity.
Healthcare costs have destroyed
any savings overnight.
Child care became
unaffordable.
College tuition has
ballooned since the 1980s.
And through it all, we're
told, just work harder.
As if effort alone can outpace
inflation and the imbalance.
(06:41):
And as Jim Brone put it, you
don't get paid for the hour.
You get paid for the value
you bring to the hour.
But the economy no longer
rewards value the same way.
What do you do when you bring in
value and still can't get ahead?
When you have a degree, the skills,
the drive, and you're still living
paycheck to
(07:01):
paycheck.
In generations past, one income
could support a household.
Today, two incomes can barely afford a
one-bedroom apartment in a major city.
Job security has been
replaced by hustle culture.
Retirement has been
replaced by side gig work.
Boomers and old Gen Xers lived in a world
(07:21):
where effort often led to upward mobility.
But for many young Americans now,
effort now feels like a ladder that has
been removed.
And there's a
psychological toll.
Social media bombards us with
images of success we can't afford.
Lifestyles we
can't access.
Comparison replaces
(07:43):
contentment.
Everyone looks like they're
winning, except you.
But most of it is fake
and just for views.
So, are we still
chasing the dream?
Or just avoiding
a nightmare?
Are we working towards
something real?
Or just hoping the next
paycheck covers the damage?
Because one of the most dangerous lies
(08:03):
isn't that the American dream is dead.
It's pretending that it still
works just fine when it isn't.
When the old dream breaks down,
a new philosophy can rise.
The cracks in the foundation
don't have to mean the collapse.
They can mean
renovation.
If we have the courage to admit that
(08:25):
what's no longer working
and the vision to imagine
something better.
This isn't a crisis
of character.
It's not a lack of work
ethic, discipline, or drive.
It's a
systemic shift.
It's a structural transformation in how
our economy functions, how wealth is
created, and how
(08:45):
opportunities are distributed.
In the 20th century, the economic
engine was fairly linear.
Go to college, get a job, climb the
ladder, and retire with a pension.
But the ladder has been
replaced by a shifting maze.
Today, we live in a globalized,
automated, and digital
(09:05):
world where the old rules no
longer apply.
The jobs of yesterday are
outsourced or replaced by AI.
The modern workforce must compete not just
with their neighbors, but machines and
marketplaces on
every continent.
It's no longer just
about how hard you work.
It's about what you work on, and
(09:27):
whether your work builds leverage.
Because today's system rewards
those who own and not just earn.
If you own assets like real estate,
stocks, intellectual property,
online businesses, content platforms,
you benefit from exponential returns.
Your money works
even when you don't.
(09:48):
Wealth compounds.
Risk, in some ways,
becomes optional.
But if you only rely on labor, you
are always at the mercy of the system.
You trade time
for dollars.
Your income
is capped.
Your security
is fragile.
And worse, your time is
taxed at the highest rate.
This is the
new divide.
(10:09):
Not just between the rich and poor,
but between the leverage
and the labor bound.
Meanwhile, the rise of the gig
economy was sold as freedom.
Be your own boss.
Work on your
own terms.
Set your own hours.
But the fine print was
hidden in plain sight.
No benefits.
No healthcare.
No retirement plan.
(10:30):
No pay time off.
It's not
entrepreneurship.
It's just-in-time
labor.
Dressed up in Instagram
filters and hashtags.
And it leaves millions in a cycle
of insecurity and instability.
Chasing tips, gigs, and
algorithms just to stay afloat.
But here's the
hard question.
(10:50):
Who's teaching that
to young people?
Is it the schools?
Are we training kids
to build assets?
To understand
compound interests?
To create online
revenue streams?
To leverage automation
and disruption?
Or are we still teaching them to be good
employees in a system
that no longer guarantees
(11:10):
anything in return?
The truth is that most
people aren't lazy.
They're just
exhausted.
Not from lack
of effort.
But from constantly running a race
where the finish line keeps moving.
They were promised a
ladder and handed a maze.
Because once you see the system, you
can stop blaming yourself and start
learning how to move
(11:31):
differently within it.
You start shifting from
consumer to creator.
From employee
to entrepreneur.
From income
to ownership.
Not overnight,
but deliberately.
Strategically.
The American
dream isn't dead.
It's just no longer handed
out in neat little packages.
It has to be rebuilt with new map,
(11:52):
a new tool, and new principles.
And it starts with
this realization.
The world has changed,
and so must you.
And if you want to find where the American
dream still burns, look to the people who
left everything
to chase it.
Immigrants.
Not born into it.
Not entitled to it.
But willing to bet
(12:12):
everything on it.
For decades, centuries, people have
crossed deserts, oceans, and borders,
not just for luxury,
but for possibility.
They don't come
expecting comfort.
They come for a chance, a sliver of an
opportunity, that no matter how narrow it
is, it's still more
(12:33):
than they had before.
Many arrive with little more
than just a backpack and dreams.
No network, no saving, often
not even fluent in English.
But what they do
have is powerful.
They have hope mixed with urgency,
and that burns like rocket fuel.
Ryan Holiday might call this the
(12:55):
very definition of Stoic courage.
Accepting difficulty
without complaint.
Enduring injustice
without bitterness.
And taking ownership of one's fate,
even in the face of unimaginable odds.
It is the Stoic idea
brought to life.
Do what you can, with what
(13:16):
you have, where you are.
Immigrants often
begin at the bottom.
They clean hotel rooms, wash dishes,
drive taxis, work construction,
care for the elderly, and harvest
the food that ends up on our tables.
They grind, quietly
and relentlessly.
They take jobs
(13:36):
others overlook.
They live frugally, pooling
income with extended family.
They sacrifice today
for a better tomorrow.
Not just for themselves,
but for their children.
And slowly,
they rise.
They open up small businesses,
laundromats, restaurants, grocery stores,
and tech startups.
(13:56):
They buy homes in neighborhoods
others have abandoned.
They send their kids to college,
often becoming the first generation in
their family
to ever do so.
They build lives
from scratch.
No blueprint, no margin for
error, and no safety net.
Because what most immigrants understand
intuitively is that the future is not
(14:17):
guaranteed, but
it can be shaped.
And so, they work
on themselves.
They upskill.
They learn
the system.
They save, even
when it hurts.
And they pass on, not
just money, but a mindset.
But then there's the
other side of the story.
The millions of undocumented immigrants,
who contribute daily,
(14:39):
yet live in the shadows.
They pay taxes.
They support industries, from
agriculture to construction.
They keep local
economies running.
But they are denied recognition,
security, and basic rights.
Many have spent
decades here.
Built
families here.
They are American in every
way, except on paper.
(15:00):
And yet, they live one traffic
stop away from deportation.
Their children often navigate a country
that embraces their labor, but rejects
their humanity.
Still, they stay.
Still, they
believe.
That, too, is a
form of stoicism.
Choosing dignity in a
(15:20):
system designed to deny it.
So, we ask ourselves, if the American
dream is dead, why do
people still risk everything
to pursue it?
Why do immigrants still
come and still believe?
Maybe because when you lived without
rights, without water, without peace,
(15:41):
the idea of a place where effort
could matter feels like salvation.
Maybe because for many immigrants,
the dream is not about becoming rich.
It's about having
a chance to try.
In fact, the most powerful irony of the
American dream is that the people who
believe in it the most are the ones
(16:02):
that are often not born in America.
They haven't grown cynical
from broken promises.
They haven't become numb
from suburban comfort.
They still see America not as
how it is, but as it could be.
And perhaps that's where
the dream still survives.
Not in nostalgia.
Not in policy.
(16:24):
Not in politics.
But in the will of the people who crossed
oceans and borders just to come here and
have a chance.
If the American dream is still alive,
they're the ones that keep it breathing.
They're the ones that keep
the American dream alive.
And this means the
American dream still lives.
(16:45):
Yes, some reach
the mountaintop.
Some still build wealth, buy homes,
send their kids to top schools.
But increasingly, those who reach the
dream are those who started the journey
already halfway
up the hill.
If you're born into wealth, the
dream isn't something you chase.
(17:06):
It's something
you inherit.
Your parents
co-sign the house.
They pay
your tuition.
They help fund your
first business.
If you stumble, there's
a safety net beneath you.
That's not to say that
there's no work involved.
But the stakes
are lower.
The ladder
is sturdier.
And the path
is clearer.
If you graduate without debt,
the dream feels possible.
(17:26):
You have a
head start.
You can take risks, build,
invest, and experiment.
You're not making life decisions under
the pressure of monthly minimum payments.
If you're in industries like tech,
finance, or medicine, the income potential
is still strong.
There are still
waves to ride.
Stock options, bonuses,
(17:48):
scalable business models.
You can still play the wealth game
with the old rules and still win.
But the average worker, or the teacher,
the retail worker, the single parent,
the freelance creative, the social worker,
the hourly laborer, the dream feels less
like a staircase and
(18:09):
more like a treadmill.
You can work 50 hours a week
and still not afford it.
Two-bedroom
apartment.
You can be essential to society and
still feel excluded from its rewards.
That's because today's American
dream demands more than just effort.
It demands access, mentorship,
capital, networks, and information.
(18:32):
It demands an
understanding of systems.
How to invest.
How to scale.
How to protect
your legacy.
How to protect yourself
legally and financially.
And more and more
people feel lost.
Not just lazy.
Not entitled.
Just lost.
Because the map they were given
doesn't match the terrain anymore.
It's like trying to navigate
(18:53):
New York with a map of Chicago.
The new economy
moves fast.
Opportunities are hidden behind
passwords, platforms, and privilege.
Wealth creation now
happens digitally.
Globally.
In asset classes, many
were never taught about.
And the information gap is widening
just as fast as the wealth gap.
(19:14):
And as Ryan Holiday put it, If you don't
know what you're aiming
for, you'll never hit it.
And that's the
paradox of today.
The dream still exists, but it's harder to
define, harder to reach, and increasingly
shaped by forces outside
the individual's control.
So, if the old American dream is dying,
or worse, no longer accessible to most,
(19:36):
then the answer isn't to mourn
it, it's to reimagine it.
Let's stop clinging to it, as it no longer
serves its place in the
world we live in today.
The promise of a job for life, a
suburban home, a pension, and early
retirement might have worked in the
1950s, but no longer works in the 21st.
(19:59):
We are in an age of hyper-connectivity,
economic volatility, digital
possibilities, and
existential fatigue.
So maybe it's time to stop trying
to revive the dream that was always
incomplete, and build a
new one, a better one.
What if the new dream isn't about how
(20:19):
much you have, but how much you control?
What if success is no longer measured in
square footage, job titles, or how early
you can retire, but in how free
you are to live on your own terms?
The freedom to say no to projects,
people, and systems that
you don't align with.
The space to think, to breathe, to
(20:42):
reflect, to not be ruled by urgency.
The ability to choose purpose over
a paycheck, even if it pays less,
but means more.
The power to design a life that reflects
your values, not just someone else's
expectations.
This is not about
giving up ambition.
(21:02):
It's about
redirecting it.
This is the new
American dream.
Not a house with a white picket fence,
but a life that feels full to you.
Not retirement at 65, but relevance and
vitality at every stage of your life.
Not climbing a corporate ladder, but
building your own ladder, or deciding
(21:23):
not to climb
at all.
And perhaps, the most radical part of
this new dream is that it's
not tied to a location.
It's not uniquely
American anymore.
The tools of freedom, knowledge,
leverage, digital access, intentionality,
are becoming
global.
So maybe, in reimagining the American
dream, we create something bigger.
(21:45):
A human dream.
A life where meaning
triumphs money.
Freedom beats fame.
And being present matters
more than being impressive.
The dream
isn't dead.
America just
outgrew it.
And now, we get to
build one that fits.
Millennials and Gen Z aren't walking
(22:05):
away from the American dream.
They're pointing out its
limitations and rewriting it.
They're not cynical, lazy, or unambitious,
as outdated stereotypes might suggest.
In fact, their ambition
is as strong as ever.
But they are
aiming differently.
They've inherited
a world on fire.
(22:27):
Economically,
environmentally, and socially.
And rather than just doubling down on the
old scripts, they would
rather ask better questions.
What's the point of a six-figure
salary if it costs your peace of mind?
What good is owning a house if it makes
you drowning in debt for 30 years?
Why chase retirement if you never
(22:48):
enjoyed the decades leading up to it?
The truth is, they're not
rejecting the dream itself.
They're rejecting the
old version of it.
They want success, but not if it
means sacrificing their values.
They want wealth, but not if it requires
selling their soul to a company.
They want security, but they also want
(23:09):
meaning, community, and personal growth.
They've watched their parents burn out in
cubicles, sacrifice joy over job titles,
and stay loyal to companies
that don't return a favor.
They've seen how fragile the system really
is, the housing crisis, the student debt
crisis, the pandemic, inflation, and
(23:31):
they've concluded not that the dream
is pointless, but
that it must change.
They're choosing purpose over prestige,
flexibility over fixed schedules,
mental wellness
over hustle culture.
They're redefining wealth, not just in
dollar terms, but in terms of experience,
(23:52):
freedom, alignment,
and energy.
Some are choosing digital nomadism,
building careers from laptops,
trading traffic for travel,
meetings for meaning.
Some are leaning into social
entrepreneurship, building ventures that
don't just generate a
profit, but create an impact.
Some are opting for minimalist lifestyles,
(24:16):
downsizing consumption, to upscale
presence and
intentionality.
And perhaps most importantly, they're
doing it in a new kind of courage.
The courage to question all the scripts,
the courage to say no to paths that look
successful,
but feel empty.
The courage to start over even
when it makes others uncomfortable.
(24:39):
And that's the revolution
of Gen Z and millennials.
They've realized no one is coming to help
them, so they have to
build it on their own.
They don't want the dream
that was sold to them.
They want the dream that fits
with who they actually are.
Maybe the future American dream isn't
(25:00):
about living better in the bigger house,
higher salary,
fancier titles.
Maybe it's about
living truer.
The American dream isn't dead, it's
just evolving, and
it's yours to redefine.
Thank you for
listening.
Until next time.
Welcome back to
(00:00):
the Wealth Effect.
Today, we're asking a question that is
at the heart of what it
means to live in America.
The American Dream.
For generations, the
American Dream was simple.
Work hard, play by the rules, and
you'll be rewarded with homeownership,
stable income, upward mobility,
a better life for your kids.
(00:22):
For generations, the
American dream was simple.
Work hard, play by the rules, and
you'll be rewarded with homeownership,
stable income, upward mobility, and
a better life for your
kids than what you had.
But along the way, it
started to break down.
College degrees didn't
(00:43):
guarantee good jobs.
Wages stagnated.
Housing prices fell
out of control.
Healthcare
became a gamble.
The gap between the rich
and everyone else got wider.
So what happened?
Did the American
dream die?
Or was it more of
a myth than a map?
Today, we're unpacking the
(01:04):
truth behind the American dream.
How it started, who it was really meant
for, what changed, and whether a new dream
needs to rise
in its place.
Let's fill
your pocket.
To understand whether the American dream
is still alive, we have to travel back,
not just to a phrase coined, but to the
(01:25):
psyche of a young nation
carving out its identity.
The term American dream was first
defined by James Truslow Adams in 1931,
a year of
desperation.
The Great Depression
had gutted the economy.
Soup lines wrapped
around city blocks.
(01:45):
Farms were lost.
The future
was uncertain.
Yet, Adams wrote in the epic of America,
a dream, a vision, not just of material
wealth alone, but, as he put it, a
better, richer, and fuller life for
everyone with opportunity for each,
(02:06):
according to their ability or achievement.
It wasn't about being
handed down riches.
It was about earning
dignity through effort.
A nation of individuals
rising by merit.
But here's where
we might pause.
As history always carries tension,
the dream, from its origin, was
(02:28):
aspirational, but never
universally accessible.
After World War II, the American dream
entered what many remembered
as the golden era.
The 1950s to
the 1970s.
Soldiers returned home
to a booming economy.
GI bills paved the
way for education.
(02:49):
Suburbs sprang up with
affordable mortgages.
Manufacturing jobs offered pension,
security, and a path to the middle class.
It looked like the American
dream was alive and thriving.
But again,
for whom?
While one side of America was rising,
the other was still being
systemically held down.
Redlining, where the government-sanctioned
(03:11):
housing discrimination, ensured that
entire communities of color remained
locked out of wealth-building
opportunities.
Native Americans
remained marginalized.
Asian immigrants faced quotas and
cultural exclusion, while
Latino labor was exploited.
And for many, it
was never easier.
Only harder, only
(03:32):
harder, by design.
The American dream was
built on a contradiction.
Equal opportunity,
on unequal ground.
And yet, despite that
contradiction, it endured.
Why?
Because even a flawed
dream can mobilize hope.
It tells children in the crowded
apartments that their future isn't
(03:52):
determined by
their zip code.
It tells the immigrant with broken
English that their work matters.
It tells the factory worker, the waitress,
the coder, the creator, you matter.
Your efforts
matter.
The power of the dream
wasn't about its perfection.
It was in its
possibility.
(04:12):
It gave direction to generations
who needed something to strive for.
Not a guarantee, but
a guiding compass.
But nearly a century after Adams wrote
those words, we have to ask, has the dream
evolved or
has it eroded?
Is it still rooted in
(04:33):
effort and achievement?
Or has it been hijacked by
consumerism, status, and inequity?
The origin of the American dream wasn't
about a mansion or a Tesla or going viral.
It was about freedom through effort,
dignity through work, and
mobility through merit.
(04:55):
Unless we understand its true beginning,
the hope will never be able to truly
answer the question
that matters the most.
Is the American dream
still worth chasing?
Or is it time
for a new dream?
Fast forwarding to the present day, and
the fractures in the foundation of the
(05:15):
American dream are no
longer theoretical.
The scaffolding that once held a shared
vision of prosperity is now splintered
under the way of
the modern economy.
For millennials and Gen Z, it doesn't
feel like the dream is out of reach.
It feels like the dream
was a scam from the start.
(05:36):
They were sold
a blueprint.
Go to school.
Take on loans.
Work hard.
Buy a home.
Start a family.
And retire in peace.
But they followed these steps
and found a different ending.
Instead of security, instead of
security, they got decades of debt.
Instead of home ownership,
they got skyrocketing rents.
(05:57):
And down payments
they couldn't touch.
Instead of careers, they got gig
work, contract jobs, and layoffs.
Thinly veiled as
restructuring.
Instead of peace of mind, they got
anxiety, burnout, and
a mental health crisis.
The obstacles aren't
just personal.
Wages have stagnated for decades
(06:18):
despite rising productivity.
Healthcare costs have destroyed
any savings overnight.
Child care became
unaffordable.
College tuition has
ballooned since the 1980s.
And through it all, we're
told, just work harder.
As if effort alone can outpace
inflation and the imbalance.
(06:41):
And as Jim Brone put it, you
don't get paid for the hour.
You get paid for the value
you bring to the hour.
But the economy no longer
rewards value the same way.
What do you do when you bring in
value and still can't get ahead?
When you have a degree, the skills,
the drive, and you're still living
paycheck to
(07:01):
paycheck.
In generations past, one income
could support a household.
Today, two incomes can barely afford a
one-bedroom apartment in a major city.
Job security has been
replaced by hustle culture.
Retirement has been
replaced by side gig work.
Boomers and old Gen Xers lived in a world
(07:21):
where effort often led to upward mobility.
But for many young Americans now,
effort now feels like a ladder that has
been removed.
And there's a
psychological toll.
Social media bombards us with
images of success we can't afford.
Lifestyles we
can't access.
Comparison replaces
(07:43):
contentment.
Everyone looks like they're
winning, except you.
But most of it is fake
and just for views.
So, are we still
chasing the dream?
Or just avoiding
a nightmare?
Are we working towards
something real?
Or just hoping the next
paycheck covers the damage?
Because one of the most dangerous lies
(08:03):
isn't that the American dream is dead.
It's pretending that it still
works just fine when it isn't.
When the old dream breaks down,
a new philosophy can rise.
The cracks in the foundation
don't have to mean the collapse.
They can mean
renovation.
If we have the courage to admit that
(08:25):
what's no longer working
and the vision to imagine
something better.
This isn't a crisis
of character.
It's not a lack of work
ethic, discipline, or drive.
It's a
systemic shift.
It's a structural transformation in how
our economy functions, how wealth is
created, and how
(08:45):
opportunities are distributed.
In the 20th century, the economic
engine was fairly linear.
Go to college, get a job, climb the
ladder, and retire with a pension.
But the ladder has been
replaced by a shifting maze.
Today, we live in a globalized,
automated, and digital
(09:05):
world where the old rules no
longer apply.
The jobs of yesterday are
outsourced or replaced by AI.
The modern workforce must compete not just
with their neighbors, but machines and
marketplaces on
every continent.
It's no longer just
about how hard you work.
It's about what you work on, and
(09:27):
whether your work builds leverage.
Because today's system rewards
those who own and not just earn.
If you own assets like real estate,
stocks, intellectual property,
online businesses, content platforms,
you benefit from exponential returns.
Your money works
even when you don't.
(09:48):
Wealth compounds.
Risk, in some ways,
becomes optional.
But if you only rely on labor, you
are always at the mercy of the system.
You trade time
for dollars.
Your income
is capped.
Your security
is fragile.
And worse, your time is
taxed at the highest rate.
This is the
new divide.
(10:09):
Not just between the rich and poor,
but between the leverage
and the labor bound.
Meanwhile, the rise of the gig
economy was sold as freedom.
Be your own boss.
Work on your
own terms.
Set your own hours.
But the fine print was
hidden in plain sight.
No benefits.
No healthcare.
No retirement plan.
(10:30):
No pay time off.
It's not
entrepreneurship.
It's just-in-time
labor.
Dressed up in Instagram
filters and hashtags.
And it leaves millions in a cycle
of insecurity and instability.
Chasing tips, gigs, and
algorithms just to stay afloat.
But here's the
hard question.
(10:50):
Who's teaching that
to young people?
Is it the schools?
Are we training kids
to build assets?
To understand
compound interests?
To create online
revenue streams?
To leverage automation
and disruption?
Or are we still teaching them to be good
employees in a system
that no longer guarantees
(11:10):
anything in return?
The truth is that most
people aren't lazy.
They're just
exhausted.
Not from lack
of effort.
But from constantly running a race
where the finish line keeps moving.
They were promised a
ladder and handed a maze.
Because once you see the system, you
can stop blaming yourself and start
learning how to move
(11:31):
differently within it.
You start shifting from
consumer to creator.
From employee
to entrepreneur.
From income
to ownership.
Not overnight,
but deliberately.
Strategically.
The American
dream isn't dead.
It's just no longer handed
out in neat little packages.
It has to be rebuilt with new map,
(11:52):
a new tool, and new principles.
And it starts with
this realization.
The world has changed,
and so must you.
And if you want to find where the American
dream still burns, look to the people who
left everything
to chase it.
Immigrants.
Not born into it.
Not entitled to it.
But willing to bet
(12:12):
everything on it.
For decades, centuries, people have
crossed deserts, oceans, and borders,
not just for luxury,
but for possibility.
They don't come
expecting comfort.
They come for a chance, a sliver of an
opportunity, that no matter how narrow it
is, it's still more
(12:33):
than they had before.
Many arrive with little more
than just a backpack and dreams.
No network, no saving, often
not even fluent in English.
But what they do
have is powerful.
They have hope mixed with urgency,
and that burns like rocket fuel.
Ryan Holiday might call this the
(12:55):
very definition of Stoic courage.
Accepting difficulty
without complaint.
Enduring injustice
without bitterness.
And taking ownership of one's fate,
even in the face of unimaginable odds.
It is the Stoic idea
brought to life.
Do what you can, with what
(13:16):
you have, where you are.
Immigrants often
begin at the bottom.
They clean hotel rooms, wash dishes,
drive taxis, work construction,
care for the elderly, and harvest
the food that ends up on our tables.
They grind, quietly
and relentlessly.
They take jobs
(13:36):
others overlook.
They live frugally, pooling
income with extended family.
They sacrifice today
for a better tomorrow.
Not just for themselves,
but for their children.
And slowly,
they rise.
They open up small businesses,
laundromats, restaurants, grocery stores,
and tech startups.
(13:56):
They buy homes in neighborhoods
others have abandoned.
They send their kids to college,
often becoming the first generation in
their family
to ever do so.
They build lives
from scratch.
No blueprint, no margin for
error, and no safety net.
Because what most immigrants understand
intuitively is that the future is not
(14:17):
guaranteed, but
it can be shaped.
And so, they work
on themselves.
They upskill.
They learn
the system.
They save, even
when it hurts.
And they pass on, not
just money, but a mindset.
But then there's the
other side of the story.
The millions of undocumented immigrants,
who contribute daily,
(14:39):
yet live in the shadows.
They pay taxes.
They support industries, from
agriculture to construction.
They keep local
economies running.
But they are denied recognition,
security, and basic rights.
Many have spent
decades here.
Built
families here.
They are American in every
way, except on paper.
(15:00):
And yet, they live one traffic
stop away from deportation.
Their children often navigate a country
that embraces their labor, but rejects
their humanity.
Still, they stay.
Still, they
believe.
That, too, is a
form of stoicism.
Choosing dignity in a
(15:20):
system designed to deny it.
So, we ask ourselves, if the American
dream is dead, why do
people still risk everything
to pursue it?
Why do immigrants still
come and still believe?
Maybe because when you lived without
rights, without water, without peace,
(15:41):
the idea of a place where effort
could matter feels like salvation.
Maybe because for many immigrants,
the dream is not about becoming rich.
It's about having
a chance to try.
In fact, the most powerful irony of the
American dream is that the people who
believe in it the most are the ones
(16:02):
that are often not born in America.
They haven't grown cynical
from broken promises.
They haven't become numb
from suburban comfort.
They still see America not as
how it is, but as it could be.
And perhaps that's where
the dream still survives.
Not in nostalgia.
Not in policy.
(16:24):
Not in politics.
But in the will of the people who crossed
oceans and borders just to come here and
have a chance.
If the American dream is still alive,
they're the ones that keep it breathing.
They're the ones that keep
the American dream alive.
And this means the
American dream still lives.
(16:45):
Yes, some reach
the mountaintop.
Some still build wealth, buy homes,
send their kids to top schools.
But increasingly, those who reach the
dream are those who started the journey
already halfway
up the hill.
If you're born into wealth, the
dream isn't something you chase.
(17:06):
It's something
you inherit.
Your parents
co-sign the house.
They pay
your tuition.
They help fund your
first business.
If you stumble, there's
a safety net beneath you.
That's not to say that
there's no work involved.
But the stakes
are lower.
The ladder
is sturdier.
And the path
is clearer.
If you graduate without debt,
the dream feels possible.
(17:26):
You have a
head start.
You can take risks, build,
invest, and experiment.
You're not making life decisions under
the pressure of monthly minimum payments.
If you're in industries like tech,
finance, or medicine, the income potential
is still strong.
There are still
waves to ride.
Stock options, bonuses,
(17:48):
scalable business models.
You can still play the wealth game
with the old rules and still win.
But the average worker, or the teacher,
the retail worker, the single parent,
the freelance creative, the social worker,
the hourly laborer, the dream feels less
like a staircase and
(18:09):
more like a treadmill.
You can work 50 hours a week
and still not afford it.
Two-bedroom
apartment.
You can be essential to society and
still feel excluded from its rewards.
That's because today's American
dream demands more than just effort.
It demands access, mentorship,
capital, networks, and information.
(18:32):
It demands an
understanding of systems.
How to invest.
How to scale.
How to protect
your legacy.
How to protect yourself
legally and financially.
And more and more
people feel lost.
Not just lazy.
Not entitled.
Just lost.
Because the map they were given
doesn't match the terrain anymore.
It's like trying to navigate
(18:53):
New York with a map of Chicago.
The new economy
moves fast.
Opportunities are hidden behind
passwords, platforms, and privilege.
Wealth creation now
happens digitally.
Globally.
In asset classes, many
were never taught about.
And the information gap is widening
just as fast as the wealth gap.
(19:14):
And as Ryan Holiday put it, If you don't
know what you're aiming
for, you'll never hit it.
And that's the
paradox of today.
The dream still exists, but it's harder to
define, harder to reach, and increasingly
shaped by forces outside
the individual's control.
So, if the old American dream is dying,
or worse, no longer accessible to most,
(19:36):
then the answer isn't to mourn
it, it's to reimagine it.
Let's stop clinging to it, as it no longer
serves its place in the
world we live in today.
The promise of a job for life, a
suburban home, a pension, and early
retirement might have worked in the
1950s, but no longer works in the 21st.
(19:59):
We are in an age of hyper-connectivity,
economic volatility, digital
possibilities, and
existential fatigue.
So maybe it's time to stop trying
to revive the dream that was always
incomplete, and build a
new one, a better one.
What if the new dream isn't about how
(20:19):
much you have, but how much you control?
What if success is no longer measured in
square footage, job titles, or how early
you can retire, but in how free
you are to live on your own terms?
The freedom to say no to projects,
people, and systems that
you don't align with.
The space to think, to breathe, to
(20:42):
reflect, to not be ruled by urgency.
The ability to choose purpose over
a paycheck, even if it pays less,
but means more.
The power to design a life that reflects
your values, not just someone else's
expectations.
This is not about
giving up ambition.
(21:02):
It's about
redirecting it.
This is the new
American dream.
Not a house with a white picket fence,
but a life that feels full to you.
Not retirement at 65, but relevance and
vitality at every stage of your life.
Not climbing a corporate ladder, but
building your own ladder, or deciding
(21:23):
not to climb
at all.
And perhaps, the most radical part of
this new dream is that it's
not tied to a location.
It's not uniquely
American anymore.
The tools of freedom, knowledge,
leverage, digital access, intentionality,
are becoming
global.
So maybe, in reimagining the American
dream, we create something bigger.
(21:45):
A human dream.
A life where meaning
triumphs money.
Freedom beats fame.
And being present matters
more than being impressive.
The dream
isn't dead.
America just
outgrew it.
And now, we get to
build one that fits.
Millennials and Gen Z aren't walking
(22:05):
away from the American dream.
They're pointing out its
limitations and rewriting it.
They're not cynical, lazy, or unambitious,
as outdated stereotypes might suggest.
In fact, their ambition
is as strong as ever.
But they are
aiming differently.
They've inherited
a world on fire.
(22:27):
Economically,
environmentally, and socially.
And rather than just doubling down on the
old scripts, they would
rather ask better questions.
What's the point of a six-figure
salary if it costs your peace of mind?
What good is owning a house if it makes
you drowning in debt for 30 years?
Why chase retirement if you never
(22:48):
enjoyed the decades leading up to it?
The truth is, they're not
rejecting the dream itself.
They're rejecting the
old version of it.
They want success, but not if it
means sacrificing their values.
They want wealth, but not if it requires
selling their soul to a company.
They want security, but they also want
(23:09):
meaning, community, and personal growth.
They've watched their parents burn out in
cubicles, sacrifice joy over job titles,
and stay loyal to companies
that don't return a favor.
They've seen how fragile the system really
is, the housing crisis, the student debt
crisis, the pandemic, inflation, and
(23:31):
they've concluded not that the dream
is pointless, but
that it must change.
They're choosing purpose over prestige,
flexibility over fixed schedules,
mental wellness
over hustle culture.
They're redefining wealth, not just in
dollar terms, but in terms of experience,
(23:52):
freedom, alignment,
and energy.
Some are choosing digital nomadism,
building careers from laptops,
trading traffic for travel,
meetings for meaning.
Some are leaning into social
entrepreneurship, building ventures that
don't just generate a
profit, but create an impact.
Some are opting for minimalist lifestyles,
(24:16):
downsizing consumption, to upscale
presence and
intentionality.
And perhaps most importantly, they're
doing it in a new kind of courage.
The courage to question all the scripts,
the courage to say no to paths that look
successful,
but feel empty.
The courage to start over even
when it makes others uncomfortable.
(24:39):
And that's the revolution
of Gen Z and millennials.
They've realized no one is coming to help
them, so they have to
build it on their own.
They don't want the dream
that was sold to them.
They want the dream that fits
with who they actually are.
Maybe the future American dream isn't
(25:00):
about living better in the bigger house,
higher salary,
fancier titles.
Maybe it's about
living truer.
The American dream isn't dead, it's
just evolving, and
it's yours to redefine.
Thank you for
listening.
Until next time.
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