A Quick Review of THE ALGEBRA OF WEALTH by Scott Galloway.
(TL,DR: I recommend it – especially to young adult readers)
CONTEXT for the THE ALGEBRA OF WEALTH REVIEW:
I have a Love / Hate Relationship with Scott’s persona:
- He is incredibly thoughtful when talking about business and marketing.
- I devoured “The Four”
- He’s thought-provoking on the sociology of boys right now.
- I really enjoy his insights in long form- when he’s in his lane and focused.
- I applaud his willingness to take on “Big Education” and tax policy
HOWEVER, something has crept into his persona since he started “The Pivot” with Kara Swisher, that turns me way off.
- I find him arrogant, insecure, preachy in tone when he “performs.” I can feel him thinking, “I’m on Anderson Cooper and you’re not.”
- I don’t find him useful when talking about politics and other subjects.
- On tough topics, I find him a little ideologically “convenient” and occasionally disingenuous- usually around tax policy where he can be a bit of a ladder-puller.
Against that backdrop, I thought “The Algebra of Wealth” was very good.
WHAT WORKED FOR ME:
- Excellent for self-aware readers (Senior in high school through late 20s- younger people trying to make good life/career decisions)
- It may overlap with other books that talk about how money investments work (esp. the 2nd half)
- I think his tone and experience really work in describing “how the world works.” -His anecdotes are glib and funny (up to a point)
- The honesty about the lessons and motivations from Scott’s background and business record- we get some good indication of what he was feeling and thinking around certain decisions.
- Excellent book for next generation wealth inheritors – those with a “head start”, perhaps even some ambition, but little direction.
WHAT DIDN’T WORK:
- The Algebra of Wealth organizing framework didn’t land for me.
- His Simple formula is “simple” but not really a framework
- The anchoring with Stoicism felt trite and forced.
- Scott seemed completely unaware of issues that women and minorities face.
- The investing back half of book was fine, but felt phoned in. Even the last few pages had good information, but felt rushed.
- Cover Art: Meh. Good for airport visibility I guess, but it completely abandons his high media visibility
- I read the book in his voice . . . which wasn’t a plus. It connotes certainty and a smugness that is off-putting (to me). I think I might have liked the book even more if it had been written under a different name.
Even with the various headwinds (and my issues), I recommend THE ALGEBRA OF WEALTH-
- Very good for young people and those at a fork in the road of their life
- First half: really actionable stories – I wish I had read this when I was in college / in my 20s. It would have changed my thinking on many decisions.
- Not sure it’s additive to those that are well on their way in their career (or later) unless they are thinking about a switch.
- Pairs well with Morgan Housel‘s “Psychology of Money.” (Read my review here: https://frazerrice.com/morgan-housel/)