Success is the sum of small efforts

Repeated day in and day out

Are you guys using ViewStub? It’s a platform that lets you host online, in-person and hybrid events, and sell tickets and merchandise. It’s quietly taking over the world from real event organizers who are sick of trying to shoehorn Zoom into a streaming solution that just doesn’t work.

They’ve hosted concerts, high school football games, lectures, and webinars for thousands of content producers who love the platform because it allows them to earn revenue in multiple ways.

If you are in the business of producing online events, ViewStub should be a core tool in your arsenal. Check them out here.

“People who have failed before have the same amount of success as people who have never tried at all.” — Jason Fried

This weekend China banned all transaction in crypto currencies. The BBC has a writ up here. This follows a ban on crypto-mining several months ago and has left cryptoheads confused and angry. This move by the Chinese government is a testament to how powerful crypto can be at hiding assets from the taxman. If the Chi-Com party-led government wasn’t convinced that capital flows were occurring outside of the reach of central government control, it never would have made such a bold move.

In contrast, El Salvador just moved to allow bitcoin denominated transactions for the payment of government fees. The government recognized that its own currency was fast becoming largely irrelevant in a world where crypto is easy to acquire and potentially appreciates over time.

The US government seems largely out to lunch in response to both of these developments. One of the core pillars of the US Strategic Plan is to remain the reserve currency for the world. The more stable and widespread crypto currencies become, the worse solution a depreciating dollar becomes. If countries are moving away from the dollar as reserve currency, that could signal a problem for the dollar long-term.

The Pew Research Center just published the most disconcerting research study I’ve seen in forever. 23% of Americans didn’t read or listen to a single book over the last 12 months. With all the lockdowns that characterized the last year, the fact that 1/4 people stranded at home never thought to pick up a book to improve their minds, or escape into a world of fictional delight. At the same time, the Average TikTok user spend 24 hours per month on the app.

In contrast, the average US-based CEO reads 12 books a year. Each of those books has ideas that can change the way you approach life, business, relationships and spirituality.

Personally, I’ve read 100 books a year for the past 20 years. If I get interested in a topic, I’ll read 5 books on it and develop a 3D understanding of the topic. Then I’m in a better place to ask intelligent questions and refine my understanding over time. I preach the value of reading all the time and can be quite self-righteous about it!

What are you reading?

“In life and business, the person with the fewest blind spots wins.” — Shane Parrish

From Scott Galloway:

The past 30 years have seen a wealth transfer from the young to the old.

  • In 1989, Americans under 35 had a net worth 2x their annual income. Today, that multiple has halved: Their net worth equals their income.

  • For those over 35, the trend reverses. Our nation’s oldest now have wealth worth 14x their income, up from 9x in 1989.

  • What does this mean? In three decades, the old have gotten almost twice as wealthy, while the young have become twice as poor.

“I believe in the discipline of mastering the beast of what other people have figured out.” — Charlie Munger

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