This video explains how to become a "key person of influence" in your industry, which is crucial for earning significantly more income, especially in today's technology-driven "power law" economy. The speaker outlines five key steps: Pitch, Publish, Product, Profile, and Partnerships, detailing strategies and mindsets for each to achieve fame and financial success.
The "Power Law" in industry income distribution describes how technology concentrates wealth at the very top of an industry, leading to a scenario where a small percentage of people earn significantly more than everyone else combined. This is a shift from the historical "bell curve" where income was more fairly distributed. The key people of influence at the apex of this power law are the ones earning exponentially more.
While the video outlines five steps to becoming a key person of influence (Pitch, Publish, Product, Profile, Partnerships), it doesn't explicitly state choosing an industry as the first step. However, the speaker does mention, "So you choose an industry that you love. And once you've chosen an industry that you love, you figure out how do I become the key person of influence at that." This suggests that selecting an industry is a foundational step before fully embarking on the five-step process to becoming influential within it.