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Chauncey: As long as the roots are not severed, all is well. And all will be well in the garden.

President: In the garden.

Chauncey: In the garden, growth has it seasons. First comes spring and summer, but then we have fall and winter. And then we get spring and summer again.
Rand: I think what our insightful young friend is saying is that we welcome the inevitable seasons of nature, but we’re upset by the seasons of our economy.

Chauncey: Yes!

President: That is one of the most refreshing and optimistic statements I’ve heard in a very long time.
FRANKLIN:
(puzzled)
It's that gardener!

JOHANNA:
Yes, Chauncey Gardiner.

FRANKLIN:
No! He's a real gardener!

JOHANNA:
(laughs)
He does talk like on, but I
think he's brilliant.

From the novel "Being There" by Jerzy Kosinski

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Tren Griffin
@trengriffin
The Fed stepping in and buying podcast sponsorships would be tricky to implement since the asset quickly loses value since only people listening to the archives would provide cash flow. But it would stimulate the economy, provide entertainment and increase listener skillz!
I borrowed the idea for a Fed podcast backstop from a similar though by the creative and thoughtful @awealthofcs. This might be called a "podcast put" and would provide a replacement for traditional podcaster advertisers who: 1) no longer value demand gen or 2) aren't operating.
The Fed could start selling its own fintech and meal delivery products .

Other podcast ad leaders include ZipRecruiter, Geico, Indeed, Squarespace, SimpliSafe, Quip, Robinhood, Zenni Optical, Madison Reed, Casper, Skillshare, ThirdLove, Care/of, Stampsdotcom, and Progressive.
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Tren Griffin
@trengriffin
Watching this video gives viewers a sense of how innovation happens today. Huge numbers of people working together at previously unheard to speed to find solutions. There isn't one lone inventor. The teams are globally distributed and connected. Let's go! pbs.org/video/decoding…
The lack of a lone inventor of something like flush toilets causes the same kinds of availability availability bias that happens when there is a shark attack. People moan "innovation has stopped." That innovation has stopped isn't even remotely true. But how it is created is new.
As COVID-19 innovations arrive there won't be person X you can point to and say: "she/he invented that." These innovations already are and will continue to be the collective product of many thousands of interconnected innovators working together often at unimaginably tiny scales.
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Tren Griffin
@trengriffin
25/ "We’re not crying wolf at how hard it is to compound at old rates—it can’t be done. Look how tough it is to earn $100M pretax doing anything; few ever accomplish it. Then $1B, then $5B and then $10B. One of the smartest things you can do is dampen investment expectations."
26/ "Understanding both the power of compound return and the difficulty of getting it is the heart and soul of understanding a lot of things. Never interrupt it unnecessarily.

We have this investment discipline of waiting for a fat pitch."
27/" If I was offered the chance to go into business where people would measure me against benchmarks, force me to be fully invested, crawl around looking over my shoulder, etc., I would hate it. I would regard it as putting me into shackles."
Read 11 tweets

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