1) @lexfridman's podcast with @Breedlove22 was one of the best collaborations I've heard in a long time. Here's my notes on topics like
- sovereignty
- money = value/energy storage
- desire for something from nothing
- inflation is dicivilising
- volatility
- #Bitcoin

*Read on*
2) Over time, sovereignty becomes more decentralized putting more power into individual hands. From pharaohs in ancient Egypt holding absolute power to today where individuals now vote for leaders.

Extrapolating further, people may eventually become their own governments.
3) @Breedlove22 believes money is many things: a store of value through space and time; the most marketable good in existence; a tool to discover truth; an extension of our mind; and ultimately how we quantify and digitize our analog concept of value creation.
4) I find the part about a mind's extension profound. Money enables humans to directly manifest ideas into reality. Market prices signify the importance of an idea; bad ideas go to 0.

Money also influences our minds; it corrects our understanding of what is valuable.
5) The central bank was created because #gold was not portable; they produce/distribute money + regulate monetary policy. If gold could be moved instantly, then we wouldn't need a centralized entity to distribute paper money.

Enter #Bitcoin which doesn't need a central bank.
6) The driving force for invention and progress is the simple idea that humans are always looking for how to create something from nothing i.e. our laziness often drives innovative ideas to make the world more efficient thus creating more time for us to focus on other problems.
7) Humans are always trying to increase value from their own perspective. Value only makes sense for what an asset can do for us, it has nothing to do with the asset itself. E.g. a pen is useless until we have a need for it. These days, not as many use them so demand/price drops.
8) #Bitcoin is the most perfect form of money we know today. It solves portability, scarcity, security, divisibility, scalability, durability, veracity, etc.

The only way to turn bitcoin off is to destroy every computer. That's almost impossible unless you got nuclear weapons.
9) Inflation effectively forces the quality of products to degrade in order for producers to keep their margins stable. Robert discusses how a wine maker's cost of production increases with inflation. Instead of increasing wine prices (drives away customers), they water it down.
10) Inflation also removes the ability for bad ideas to die. Allowing an entity to print money to save a dying business forces our country to live with horrible technical debt that will stifle our ability to evolve down the road. It's a ticking time bomb.

Free market is best.
11) Volatility is truth and allows nature to discover the best possible state. Market volatility is just people trying to understand what something is worth. By stabilizing our financial system, we are sacrificing short term volatility for long term which explodes down the road.
12) Growth is impossible without volatility. By reducing volatility, we actually destroy future value. E.g. natural forest fires control plant overgrowth. Instead, humans prevent wildfires which only causes HUGE fires over time that burns the soil such that its unusable by trees.
13) Entrepreneurs are actually just people exploring volatility. They take the risks of finding truth which creates immense value for society. Whether they fail or succeed, they've produced a signal that tells everyone whether an idea is good or bad which helps direct society.
14) Books that Breedlove recommends:
- Lila by Robert Pirsig
- Maps of Meaning by @jordanbpeterson
- Human Actions by Mises

He believes these books will help readers remove themselves from a materialistic and Newtonian perspective of life. This can help you self-actualize.
Hope you enjoyed this thread. Follow me for more interesting findings in my journey for truth through readings, philosophies, and investment analyses!

I hope you still watch @lexfridman's podcast. This one is ~4 hours but it's worth every second (don't speed it up).

Be good.
decivilising* (sorry for the typo)

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More from @JugalLodaya

17 Apr
1) Sharing a quick growth analysis of some streaming sites. @CuriosityStream is growing fast and with revenue growth ~= to user growth. Odd that @fuboTV @disney & @netflix don't have that. Could it be caused by high churn?

$DIS $CURI $NFLX $FUBO
2) Most articles only reference @disneyplus subscribers (~94M), but I aggregated that with @hulu and @espn numbers too because @disney owns them all. That's how I arrived at ~146M. I don't think it makes sense to only use Disney+ as a gauge.
3) @netflix has phenomenal user growth for its size. It's a beast still hungry to reach a billion users. But, around 33% of users share passwords which $NFLX is cracking down on. This will force more users to sign up and pay! that helps grow users + revenues🔥
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