Raoul Pal- So we know game we know debasement of currency is the other game so here we know that if we don't play their game you're going to get if you invest in assets that don't beat the balance sheets the 15 percent a year you're going to be losing money every year so it's really important that that is your hurdle rate and when you look at that you suddenly real realize that most assets don't beat it the S&P doesn't really beat it gold certainly doesn't real estate unlevered doesn't most things don't beat that debasement so if you invest in other things you're going to lose money and that's a hard lesson for people to learn most people don't understand this simple fact is you are getting poorer by investing in these things and that was the big realization that got to me is like oh my God my whole macro world has been turned upside down because everything we thought was the investable asset became the non investor became the asset because when you look at everything versus the FED balance sheet as a simple example there's only two assets that have gone up and I've talked about this at length before it's technology and it's crypto
In a realm where jesters, not of flesh but wrought of gears, Their grins a gilded gleam, a mockery of fears. Each cackle echoes deep within the vaults of time, Where coins are spun from air, and worth becomes the crime. These golden mimics dance upon a stage of lies, Where every step they take, the common wealth it dies. Their laughter chills the soul, a truth too harsh to face: The more they play their tune, the more we lose our place. For in their metal hands, they juggle with our fate, The value of our toil, they mercilessly abate. The balance sheets inflate with every trick they pull, And assets turn to dust, their luster growing dull. The jester's game is one where few can really win, Their magic trick? Debase, until our hopes grow thin. But two, they rise above, with growth both fast and bold, In lands of tech and crypt, where future tales are told. To beat the jesters' jest, one must invest with might, In realms not tarnished by the golden clowns' slight. For those who grasp this lore, the truth is crystal clear: Invest in what outstrips the jesters' realm of fear. The jesters' glee is dark, their purpose to deceive, Inflate the ledger's lines, make believers grieve. But those who see beyond, their vision true and sound, Will find the fields where proper wealth is truly found.
Charles Hoskinson-When people wake up and they will wake up because they're going to ask basic questions why I can’t afford to fill my gas tank anymore. Why can't I pay my rent? Why is it my parents could own a home. Why is it my grandparents could own a home have five kids two cars and the wife stays at home and I'm married. I have an advanced degree. My wife has an advanced degree and I can't even afford rent with our combined income. What the hell is going on? I always go back to the Simpsons. The show started I think it was 1988. Homer Simpson is an uneducated blue collar worker and he owns a home with four bedrooms two cars. His wife stays at home and he can afford three kids. Think about that. That was common place in 1988. What the heck is going on? Can you have that kind of lifestyle on a blue color salary? No. That's inflation
In a land where dice roll to dictate fate, The towering king in his golden state. Once a promise of crowns for the meek, Now a realm where the gold rarely speaks. Majestic it stood, the citadel of chance, Where dreams could spiral in an endless dance. But the hallowed halls, now eerily silent, Echo with queries of a life once vibrant. "Why does the cauldron no longer boil? Why does the soil withhold its spoil? The hearth is cold, the table bare, Once boundless feasts, now a meager fare." Behemoths with eyes of hollow despair, Gaze upon a banquet they can no longer share. Tales of yore, a bounteous spree, Now mere whispers of a memory. In the grasp of tentacles, twisted and worn, Lies the skeletal truth, painfully forlorn. Of a time when labor birthed its reward, And the hearth was ample for all aboard. The titan's frown, a testament to loss, As they ponder the chasm, a growing albatross. "What strange spell has reversed our fortune, Where knowledge and toil no longer proportion?" A narrative once told of modest toil, Where earnest sweat could prosper the soil. That story now, an echo faint, A frayed narrative, painted in restraint. Behold the spectacle, eerie and grand, Where avarice spins the dice by hand. And in this gallery of twisted finance, The abyss stares back with a hollow glance.
Michael Saylor -let's start with real estate real property and strip every defect away from it so let's say you had a piece of commercial real estate maybe um maybe it's a a two million dollar building called a warehouse or two million dollars that's a 100 Bitcoin 100 Bitcoin building as of right now and uh I uh I happen to pull out a Genie in a Bottle and the genie comes out and says well Michael I'll give you infinite wishes and uh so I start casting magic spells to fix the defects in my warehouse so what's the first defect well the warehouse has got a finite life it's only going to last 100 years and after 100 years the warehouse is going to fall down a rust it's got It's got a problem there it won't last a thousand years it won't last a hundred thousand years so I say the genie why don't you make uh once you make the building last forever like literally Immortal okay how do you do that well just make it out of something which is literally indestructible how about like you know Pure Energy pure uh Pure Solar Energy Right Stars last a billion years so make it out of star stuff okay fine the building is uh is Immortal now the second the second problem is uh buildings are are uh prone to damage if there's a hurricane or if there's an earthquake or someone drives a truck into it or if someone sets a bomb off in it or if uh if if uh it gets rained on and and the water runs into cracks in the buildings and the water expands and the building facade decays and it crumbles so I say the genie make it indestructible no problem you know when I made it Immortal I also made it indestructible right so it doesn't matter how often gets rained on and if it gets struck by lightning or rained on or crashed into it or exploded it's not going anywhere okay indestructible Immortal building okay remember the building was worth uh two million dollars a hundred Bitcoin well is the building that's indestructible and Immortal worth more or less now right a little bit more right maybe a lot more you could say well I got to discount it uh for the cash flows that you're going to generate in years 100 to 10 000 right but but generally a building that will last forever that you can't destroy is more valuable now the issue is uh the building has maintenance fees there are all sorts of fees normally on an ordinary building and you're paying Insurance that's a maintenance fee well the insurance goes away if the building is indestructible right and uh then I have to always if I have a building with uh steel or or something in it I have to paint it to keep it from rusting well that goes away no repainting no changing out the roof so uh no caulking no fixing cracks so uh the maintenance fees go away and if the maintenance cost of the building goes away then it's worth even more oftentimes maintenance fees could be one two three percent of the commercial value of the building so if you pay three percent of the value of the building for the next hundred years right that's 300 percent if I took the 300 percent and I took it to zero building is worth more okay so that's good so the genie basically makes the maintenance cost makes it a low maintenance or zero Maintenance building now what else draws down the drives down the value of the building property taxes the building is sitting in the middle of the city and there's a city tax there might be a state property tax there's some kind of property tax those taxes can range from 10 20 basis points a year to 250 basis points a year in Florida the property tax on a building that's held as a residence is 200 basis points a year 10 million you know the 10 million dollar building costs you 200 000 a year to hold it that's another form of maintenance so I say the genie well uh make the property tax go away well how do we do that well we move it out of space it's not in a city it's not in a country it's in cyberspace so in cyberspace there's no property tax if I could if I could move the building you know in into orbit around Jupiter there'd be no property tax right move the building so now I've got an indestructible Immortal maintenance-free building with no property tax it's getting a bit more valuable um now what's your next wish well um the building is sitting in California and nobody wants to rent a building in California but all the customers are in New York City so I blink and the building is teleported in New York City great well now they want the building in Tokyo during the Tokyo Olympics so I blink and the building is there so I say the genie will make the building teleportable if I could instantly teleport the building anywhere they'll be better building okay I've just upgraded the property a bit more now what impairs the value of the building well a limitation on who you can rent it to right so when I can teleport the building then I can move it to any City to or any place where there are people and I can rent it to them but um the other problem is you can only rent a building maybe by the month maybe by the year maybe by the decade well what if I've got someone that's willing to pay me a hundred thousand dollars a day but they only want to rent it for three days during the Monaco Grand Prix that's an example you know during during the inauguration in DC when there's infinite demand and people will pay 10x as much I need an office space NDC for three weeks can you teleport the billing there well that would be a that would be an easier to monetize piece of real estate so I say to the genie let me rent it to anyone for any period or another way to say it is is I want to be able to run it at any frequency anywhere at any frequency that upgrades the value of the real estate now um someone comes along and looks at my uh my warehouse and they go yeah this is great I would pay you quadruple normal rent but I only want a quarter of it okay I'd like to be able to subdivide it what if I could subdivide the building into four pieces and ship it to four different cities and sell it to the highest bidder the ability to uh freely subdivide and read and recombine the the property at any frequency makes the property more valuable you know here's the trick you know convert the building into a hotel divided into a hundred rooms and make it into 30 Suites and then rent the Suites for 30 hours each and then recombine it into one big banquet hall and then convert it back into a warehouse and and what you're doing is you're morphing the building day by day place by place to maximize the rents now you look at it like that you say well you know that that building I started with doesn't feel that good you know it could it was static it couldn't move it couldn't reconfigure this one sounds much better a flexible building so then my issue is well it's only a warehouse or it's only a whatever I want to use it for anything so if the genie basically casts a spell and allowed me to convert the building into a school or into a sports Stadium or into a hotel right or how about this one into a container ship people don't want hotels they want container ships that carry natural gas right now well it'd be a lot more valuable if my real estate could become a different form of property so if you can use it for anything that's a big upgrade um you know that the other thing you want right with any property is you want to upgrade it over time yeah like I've got a piece of property I've got uh 10 acres and it's a parking lot well it's worth X but what if I could develop a thousand story uh parking lot parking garage on top of the same acreage and I could uh I could develop you know a thousand story building on it well my development rights are worth a lot in fact in New York City oftentimes you see these people that are operated parking lots and they sold their air rights the rights to build above the parking lot to the hotel or the or or the commercial office building to their left or their right and you know the air rights might be worth 10 million dollars or 20 million dollars the parking lot's never going to generate 20 million dollars but but the right to develop is so uh my property would be a lot more valuable if I had the right to develop it now who controls that right well um it's your neighborhood your Precinct your city your state controls your right but if I had property in cyberspace I would have no limitations on my ability to develop it you know like uh you would say to me well wait a minute Michael um what's the point of of selling the rights to build a thousand story building when the tallest building that anybody is allowed to build in New York City is a hundred stories see there is it's impaired by code right but then you might say to me as an engineer what's the right of selling a thousand story building when the tallest building that any architect is built anywhere in the world is you know 50 150 stories I would say well this century what about next Century what about you know 200 years from now when we have adamantium steel right or or some some new uh construction technique do you really believe that the tallest building in the year 2022 will remain the tallest building and all of humanity for the next Thousand Years right I mean roll the clock back 100 years how far we come roll the clock back 200 years in the tallest building's six stories just about everywhere so the ability to to continue to upgrade the property or the ability to sell the lien on it right the bill to sell the right like for example I am the humble uh I'm the humble uh parking lot operator and I'm going to sell you the right as Mr developer to the hundred stories above my parking lot and you're going to give me money today even though you know it will take you 10 years to find a buyer for those rights maybe it will take you 30 years maybe you will die and you will pass the rights to the development of the land to your heir and in 30 years someone in your family will actually develop that property or develop that right and they'll make a lot of money right uh do those property rights have value well ask the people that own the property rights to Michael Jackson music right or the Beatles catalog right or or fill in the blank right a intellectual property rights have value over time so do so will property property rights now the funny thing is we talk about property rights I just gave you property rights how many people have managed to sell their property rights not not not often because we never thought of them that way so I'm making some progress and getting rid of the defects in real estate and I think the next defect is right now real estate and the physical world is upgraded with tractors and machines and steel and electricity right and material but what if I could upgrade the property using computer chips right uh if I look at the efficiency of a computer chip they've improved by a factor of a million over the past 10 to 20 years but if I look at the efficiency of construction cranes in New York City they have not improved by a factor of a million in the past 20 years so clearly moving into the to The computational Domain for development out of the physical domain is a way to upgrade the value of the property and that's another really nice thing about digital property versus physical property now all of those are upgrades but then I but then uh the genie says to me I got an idea for you uh I'm going to make your property invisible to those who would do you harm what is the definition of privacy one definition of privacy is my property is invisible to those who would do me harm and available to my friends and family right so you think about walking down the street saying a wall and you see the sign private property it's like well it's not private to the family of the owner it's not private to the Friends of the owner it's private to the criminals with guns outside the fence that might want to jump the fence and do you harm okay the ultimate private property though is property that's so private that no one that can do you harm whether they're a criminal or they're a competitor right they could be a competitor they could be a criminal they could be a corporation that wants your property it could be a government or a state actor when you don't have property if you if you have um if you did have a hundred story indestructible shining building in the middle of a city don't you think that people in the city would start staring at the building and resenting the person that owns that so so making it invisible or just making it go away I don't want to own a perfect piece of property in the middle of a city where there are where there are male factors that would do me harm I want the property to be in the middle of the Milky Way nebula somewhere a billion billion years from now where no one can see it no one can get to it and no one will resent the fact that I have it that is that is what privacy is so so the genie gives me privacy to my property and they upgrade the value of the property what you what would you rather have the skyscraper in the middle of uh the capital of a hostile nation state or the equivalent skyscraper Somewhere In The Ether that's just as useful to you right well you know the mythical Brigadoon right the Magic City the Emerald City Over the Horizon Over the Rainbow it's good for you you know we have other phrases for those uh sometimes we call it heaven right somebody sometimes we call Paradise right you know uh and so that's what private property really means now we haven't gotten rid of all the deficiencies in property for example if you want to buy a piece of real estate or sell a piece of real estate if it's uh residential it costs you six percent coming and going six you know a two million dollar residential real estate is 120 000 of fees to buy it 120 000 of fees to sell it heck you know you turn it over once and you pay 12 percent of the value of the thing with commercial real estate the fees are a bit lower but there's still percentage points one two percent or something like that so I think I'd ask the genie to allow me to buy and sell the property at no fee or five basis points make it make it possible to transfer it at zero you know you can you can transfer uh Bitcoin uh you know on on chain or or on the lightning chain at numbers that are either you know anywhere from 10 basis points to one basis point and on Lightning less than one basis point so that would be nice right I mean no one's got a cartel on fees make the genie get rid of the uh of the oppressive transaction fees that takes me my next my next point I want uh I want my property not to be private I want it to be unconfiscatable okay if you own a farm outside of a city and the city wants an airport they can seize your farm by eminent domain now they can buy it at the rate they want to pay and if you don't want to sell it for that amount they can just pass the law taking it and they can pay you whatever they want and in a war they're going to take it for nothing right they'll just declare it's a war and they'll say you have to give it to the public for the public good and in peace time they'll take it for whatever they want and maybe they'll take it for their Road and maybe they'll take it for the airport maybe they'll take it for their public park or maybe they'll just take it because they don't like you right maybe you're the wrong religion or the wrong color the wrong shape or the wrong look or you've said the wrong thing so everything that I've said before to the genie it still doesn't solve this problem right how do you make it unconfiscatable well so if if you actually put title to the property in your head as opposed to anywhere else then it does become unconfiscatable right they may not assuming that they get past you know your other defenses like the fact that you can teleport it anywhere and it's private then you still have the option to keep it it can't be seized um I'm not done with that Genie right uh as I pointed out before the the idea of teleporting it is not just teleporting it in uh space but also moving it through jurisdictions different jurisdictions uh put different uh different restrictions on it so I want the property not to be able to be impaired by developmental restrictions right and uh and anything physical by definition can be impaired but anything in the cyberspace you have a decent a decent opportunity to keep it from being impaired simply by moving it um I talked about renting it at any frequency but the other right you have with property is to mortgage it to actually borrow money against it when I have a building in uh in a state in Atlanta I can mortgage it to banks that do business in Atlanta that are licensed by the nation state but by the the state of Georgia by the city of Atlanta that have a license to do business in the United States but I if someone offers me a better mortgage if they offer me a mortgage at half the cost but that is coming from a different nation state I can't take that mortgage because I can't move the building so when the property becomes flexible it becomes possible to mortgage it to anywhere to anyone on Earth or in the heavens right any any Bank could become the counterpart in the mortgage but um you know mortgages come in flavors like uh generally you know multi-year one decade 30 years what if I wanted to mortgage it at any frequency what if I just wanted to borrow some money for the next 30 seconds so the ability to mortgage uh to anyone at any frequency is an upgrade now why would I want to do that well here's here's a an real world or a practical example I want to actually borrow money against my property and every month someone offers me a higher bid or or a lower cost a better offer so I just move it you know one month I mortgage it to a bank in Singapore another month I mortgage it to a bank in London a third month I mortgage it to a bank in Atlanta the fourth month I mortgage it to a different type of company right it's it's a very flexible piece of property and I can move it at any frequency and I'm in essence driving down the cost of my capital in the same way that when I rent it at any frequency I'm driving up the yield on my asset and and uh that makes it a better business last ideas well I say to the genie um can I just uh store an entire billion dollar building you know in the palm of my hand what if I could store a 10 000 floor building and I could uh wear it around my finger right infinite economic density right the black hole right the white dwarf of money in this particular case if I can get to infinite economic density that would be fairly convenient because if I don't have infinite economic density when it takes you an entire city block to have you know a warehouse well then you run out of the ability to manage that warehouse and so this infinite density gives me a lot of flexibility uh to manage the property however I want and then I think my last twist as I say to the genie you know I like the way you fixed my property and made it maintenance free and indestructible and Immortal and allow me to program on a computer and move at the speed of light and make it non-confiscatable Etc but now I'd like I'd like you to guarantee me uh that you don't sell more than 21 million blocks of this or do this for more than 21 million in the universe forever so if you actually could get the universe to agree that there will never be more than 21 million blocks of perfect property that's the icing on the cake right when I when I did everything else I created uh digital property but when I capped it at 21 million blocks I made it digital scarcity or the ultimate scarce property it's it's what happens to property values when the city passes a law saying that no one can develop any more real estate you cannot build any more buildings or you can't build a building more than 10 floors forever in city limits when you put a restriction on the property development it drives up the value of all the property within the city dramatically so here we're talking about putting a a hard cap limit on digital property in the universe for all time that's even much better than 21 million for the next hundred years or until you know the administration changes or someone passes a law or 21 million but only until the United States of America ceases to be a nation-state that's not quite as good as 21 million forever so what I just did there was I you know made about 18 wishes to my genie and uh each wish removed the defect in the property and it doesn't take a rocket scientist to figure out that now now I've got two million dollars to invest do I want to own a two million dollar Warehouse in any city in the world or do I want to own a hundred Bitcoin seems pretty obvious right when you buy the two million dollar Warehouse you are marrying the neighborhood zoning board you're marrying the city you're marrying the county you're marrying the state right uh you're you're permanently you're married for life to the country right you're you're conjoined to uh and and if you think all of those will go on forever or for your useful Horizon perfectly you've still got the issue of Acts of God right now you're you're exposed to earthquakes tsunamis floods fires lightning strikes hail storms global warming Etc and uh it's it's pretty clear right that that uh commercial real estate was a good idea for property preservation in the 20th century but in the 21st century it's an Antiquated idea right it it becomes Antiquated as as the as the governments and as the society around the property decays the property itself decays for example you wouldn't really want to own uh the most beautiful building there is in a country where the regime collapses right you could have you could have a luxury hotel but if the currency collapses and the government collapses your luxury hotel isn't going to hold its value so so as as uh various nation states collapse the the pro properties collapse uh a great case in point you would be to go look at say luxury properties in Cuba and look at what happened to luxury hotels and luxury houses in Cuba with the rise of Castro right it kind of peaked in 1960 and then for the next 60 years uh all those properties decayed gradually gradually gradually and you know another 40 or 50 years whatever whatever beauty or value that was there is gone because they haven't maintained them and they can't maintain them this not without not without fixing the other economic ills and Bitcoin is the opposite of that whereas uh whereas commercial real estate peaked you know as for when it peaked it peaked at different points in different uh jurisdictions over the last hundred years um Bitcoin is now just beginning to come into its prime and every time a new lightning wallet is shipped Bitcoin is upgraded and every time a new layer 3 app is created bitcoin is upgraded and every time a new Miner comes online Bitcoin is upgraded and every time a new regulatory guideline is is laid out Bitcoin is upgraded so Bitcoin is just continuing uh to improve its property real estate is continuing to Decay his property if we come back to your question you know how does it get this get demonetized well you can see that the only reason that a casual investor wouldn't start to shift their allocation of savings from commercial real estate to bitcoin is they don't understand Bitcoin right most of them if you walked up to the typical real estate investor and say quick give me the 18 crippling defects in your real estate they couldn't name the 18 things I just laid out to you and you know what I couldn't either before I knew Bitcoin you don't understand the defects in your property until you see perfect synthetic property or digital property just like you don't understand the defects in your currency until you see perfect currency if you don't understand Bitcoin you don't know what's wrong with gold right and you don't understand wrong what's wrong with fiat currency really until you understand what's right about Bitcoin and I think the same is true with with property holders they don't understand what's wrong with their investment until they understand what Perfection looks like
In the heart of space where silence reigns, A tower stands, untouched by plains. With wishes infinite, cast in spells, An edifice of might, where pure magic dwells. A hundred years, its life so brief, But through a genie's grace, it sheds its grief. An immortal span now graced its form, From pure energy birthed, it laughs at storms. Indestructible, its walls defy The wrath of time, ne'er to sigh. No hurricane's rage nor earthquake's roar, Could ever breach this cosmic door. More valuable it grows, without decay, The cost of upkeep stripped away. No paint to fade, no roof to mend,In this celestial vault, expenses end. No tax to levy, no fees to pay, In cyberspace, it floats away. Far from earthly bounds, it finds its place, In virtual realms, it claims its space.
Mark Lawrence-The biggest lies we save for ourselves
In a hall of mirrored truths and twisted fates, A painter stands, where self-perception waits. With strokes of blue and whispers of the night, He renders not his visage but his internal fight. A visage grim, with eyes like embers cold, Where horns of deceit and sly smirks unfold. An angel's halo mockingly atop his head, A creature of his own making, with truths unsaid. For in this canvas labyrinth, he dares to dive, To paint the creature that within him does thrive. The brush, a wand that weaves lies spun so well, A testament to the tales we often tell. For who is this being of vile and virtuous blend? A mirror's reflection, an enemy, a friend? In the fabric of lies, we wear a grand disguise, Clothed in illusions, the self's greatest prize. So ponder deep the artist's silent confession, A gallery of whispers, fears, and obsession. We are both the painter and the daemon inside, In the artwork of souls, our deepest lies reside.
Andrew Huberman-Most people don't know this, but there's a brain structure called the anterior mid-cingulate cortex. As we pointed out before, that's a noun. It's a name. It doesn't mean anything. We could call it the Cookie Monster. But what's interesting about this brain area is there are now a lot of data in humans, not some mouse study, showing that when people do something they don't want to do like add three hours of exercise per day or per week or when people who are trying to diet and lose weight resist eating something, when people do anything that they, and this is the important part, that they don't want to do, it's not about adding more work. It's about adding more work that you don't want to do. This brain area gets bigger. They stuck a little wire during neurosurgery into this structure. This was actually discovered by a colleague of mine, Joe Parvizi. Stimulate. And the patients go, I feel like there's a storm coming. And they go, oh, is it scary? And they go, no, I want to go through it.
In a warrior’s stance, with eyes that blaze, A tempest roars, setting the sky ablaze. Sword in grip, a sentinel of might, He faces storms that come with night. A hidden land within, unseen, untold, Where battles of will are fiercely bold. A place unmarked by name or face, Yet grows with trials, a secret space. This inner world, it swells and thrives, On tasks we dread, it feeds, it derives. When we push past wants, past inner pleas, It rises up, like mighty seas. For in our toil against desire's call, A strength is forged, amidst the squall. A silent storm, a challenge met, A forge of soul, in sweat, beset. A tempest churns, not in the skies, but deep within, Where no attire gleams, nor flesh is seen. In silence fierce, the inner battles spin, A space unmarked, where quiet storms have been. Through howling winds, our spirits soar, Not with fear, but a thunderous roar. To brave the gale, to endure the test, In the heart's deep forge, our resolve is blessed.
David Goggins-See, people are haunted. But they obviously like horror films because they keep watching the same fucking movie. I don't like horror films. A lot of people like horror films. So I don't say much to them. I say exactly what I said to you right there. Because I was once you. I didn't like horror films, so I changed it.
In shadowed corners where whispers dwell, Through the creaking doors, where fear does swell. Souls tread lightly, on edge, they roam, In the flickering light of a haunted home. Ghostly figures with eyes like coals, Haunt the living, ensnaring souls. Yet among us, some stand firm, unafraid, Facing night terrors until they fade. For though the heart may race with fright, Some find solace in the ghastly night. A paradox of fear, where dread is sought, In the silver screen's chilling thought. The bravest warriors, they make the shift, From fearing shadows to embracing the gift. For if dread lingers and one must change, Seek the thrill where spirits range. A steadfast guardian in the darkened hour, Who wields the light with newfound power. Dispelling demons that with malice gleam, Changing the script of the recurring dream. So let the haunted find their peace, In tales of horror where fears release. For in the end, our own ghosts we face, And in confronting them, find our grace.
David Goggins-There Is No Magic Potion
In realms of clash and thunder's roar, Two forces meet, not like before. One cloaked in mystery's deep hood, Holds not a charm, but will of wood. The other, giant, etched in light, A titan born from storm's own might. No bottled spells within his grasp, Just raw power in his clasp. Their dance is fierce, the sky their floor, One truth rings clear amidst the war. No liquid brew can match the might, Of inner strength in nature's fight. No whispered incantations here, Just courage facing down the fear. For in the end, as legends note, True power lies not in a potion's throat.
David Goggins-Because no matter how much you improve, no matter how much you change who you are, it's not permanent. You don't just wake up and say, oh my god, man, you're David Goggins. You break records. You do this. You do that. People want to know, how are you able to just be so hard? Because I never turn the fucking thing off.
In a land where the gears grind and roar, Stands an army, mighty, forevermore. Iron giants with emerald eyes, Bound to their metal, they rise. Mighty they stride across the earth, Unyielding souls from the very birth. Born of steel, and fire, and smoke, Their resolve is firm, never to be broke. "Relentless," whispers the wind that blows, "Persistent," the river that forever flows. They do not rest, they do not yield, Marching on, their fate is sealed. For change is constant, a bitter truth, From the naiveté of youth, To the wisdom that comes with years, Through victories, defeats, and tears. Yet, in their march, they find no end, No pause, no break, no chance to mend. Like the smith's hammer, they must fall, Never off, never soft, answering the call. Iron hearts don't dream of ease, Nor of still waters or a gentle breeze. They beat with the rhythm of the relentless drum, Knowing well that tomorrow may never come. So, look upon these titans, cast in might, They are but us, in another light. Striving, changing, yet ever so tough, For to live with purpose is never enough.
Erik Voorhees
Don't try to go from poor to rich in one blast. Go from poor to not poor, then to very comfortable, then to rich, over multiple cycles and with wisdom.
Robert Breedlove
In the past if a government was printing too much money people would see that market actors and say okay this country is printing too much money. They're being irresponsible with monetary policy let me sell this currency and redeem it for gold and take my gold into another jurisdiction where there's more responsible monetary policy being carried out. In a fiat paradigm you don't have that option anymore right you're trapped in a system with no opt out and what does this make you. I mean you're perpetually subject to taxation via inflation forever so if you hold dollars in a bank account today your purchasing power is being siphoned away by the central bank. Every dollar printed is proof of labor stolen
Robert Breedlove
if you read Mingers on the origins of money he describes that in any trading society there's always necessarily a particular asset that is most widely tradable or most liquid or most marketable these are all also definitions for money like the most marketable good and whatever that asset is that's most liquid that's what everyone will want to trade for right because no matter what you're aiming at obtaining the most liquid asset will be the fastest way to get there if I can trade chickens for money I know that everyone accepts money or most people accept this most marketable good that will help me get potatoes or whatever the thing is most quickly so money emerges naturally as a result of trade it's an emergent property of direct exchange itself that something becomes the most exchangeable thing that most exchangeable thing is then by Def money effectively so it's important to understand that and then assets that are less liquid they just have less degree of moneyness
Michael Saylor
For a thousand years people did after Galin people didn't understand how blood flowed through the body and it was Harvey that finally figured out that the heart pumps blood through the arteries and recirculates it back through the veins and it was the biggest breakthrough in medicine in a thousand years and this is when Harvey said you know the heart actually pumps the blood through the body. People couldn't believe it and Harvey's famous statement is he said you know no doctor over the age of 40 will ever believe me. Nobody over the age of 40 will ever believe that the heart pumps blood
Nick Maggiulli
Even God couldn't beat dollar-cost averaging
Morgan Housel
The biggest technology booms come when the world is on fire. it comes during Wars and recessions because the incentive in the 1940s is we have to figure out nuclear energy today because if we don't figure it out in the next three months there might not be any more United States of America
Morgan Housel
In investing it's really clear that what do you get paid for you get paid for dealing with and putting up with uncertainty and volatility and periods of decline periods of no gains that's what you're getting paid for in the long term so yes you can make a lot of money investing no matter what asset you're investing in but why like the world is not so kind that it's just going to give you money for doing nothing you have to like anything else in life there's a price that you have to pay so the pain is the cost of entry basically it's the cost of admission for getting this.
Morgan Housel
Calm plants the seeds of crazy. What Minsky said was stability is destabilizing