My wife will drink enough caffeine to kill a horse, binge a murder documentary, and then look me dead in the eye and say...
"I'm having a lot of anxiety today."
I love the Olympics. Winter, summer, every single games, I tune in.
I love it because we see how sports bring us together.
I love it because we are reminded that sports are the ultimate equalizer. Look at weightlifting in the summer Olympics or downhill skiing now. The weights and the mountain don’t care what country you come from, how much money you have, or what religion you are. The weights and the mountain are the same for every single competitor.
I love it, most of all, because the Olympics remind us of a core life lesson: greatness and heartbreak live right next door to each other.
You can’t find greatness without a few meetings with heartbreak and failure.
We saw this very clearly over the weekend.
Like many of you, I’ve been following my friend Lindsey Vonn’s inspirational comeback. She’s 41, one knee is completely rebuilt, and now she went into the Olympics with a freshly-torn ACL.
As storylines go, you can’t get any better. It is gutsy. It is brave. It is a little bit crazy.
And it brings out all of the losers to do their naysaying.
“Why would she do this?”
”She must be missing something in her life.”
“It’s irresponsible.”
What these people don’t understand, because they’ve never tried anything great, because they’ve never pushed themselves to the absolute edges of their limits, because they’ll never know their real potential, is that there is no such thing as risk-free greatness.
Yesterday, when her Olympic dreams ended in that horrible crash that left all of us praying for her in front of our televisions, the haters were out in full force.
I don’t need to repeat it. Twitter has given losers enough of a platform; I won’t be amplifying them in this newsletter.
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Imagine the thing you choose to critique Elon Musk on is work ethic 😂
Elon Musk:
• Works 80–120 hours per week during peak periods
• Jobs created (direct + supply chain): ~600,000
• Salaries paid out by his companies: ~$110 billion
• Taxes he paid in just 2021: $11 billion (largest tax bill for an individual in history)
• Value created for shareholders: Trillions
• Drives hundreds of billions in economic impact
• Brought human spaceflight back to America (SpaceX)
• Helps paralyzed patients control computers with their thoughts, giving new meaning to their lives
• Created Starlink, enabling people to access internet anywhere
Elon’s wealth increases because his companies build products and services people love, companies that generate hundreds of billions of dollars in economic value in the U.S. and around the world. He isn't buying yachts, expensive houses or cars. He's continuously pushing his chips into the middle of the table and creating companies that are changing the world. His wealth is tied up in those companies, thus he only pays big tax bills when he sells stock, which is rare.
The difference between capitalist and socialist promises is reality itself.
Capitalism tells you the truth even when it’s uncomfortable. It says success must be earned, that life isn’t fair, and that no one owes you a living. It doesn’t promise ease; it promises the freedom to rise as high as your effort and ability take you. Its promises have weight because they rest on cause and effect, not wish and decree.
Socialism, by contrast, thrives on comforting lies. It tells you you’re entitled to what others produce, that envy is justice, and that the laws of economics and human nature can be ignored if you shout loud enough. It pretends scarcity, effort, and consequence can be voted away.
Capitalism is honest about cost and reward. Socialism denies both, until reality collects the debt.
Taking on @Skylinescotland Ben Nevis tomorrow! This has been on my list for 6 years and I’m finally going for it. “Someday” is code for “never” is something I say to clients, taking my own advice 😎🏴
I continue to think that our job as financial advisors is to help clients answer this question posed by @naval “If you’re so smart, why aren’t you happier?”. Ensuring that your financial resources are aligned with your values and creating the things you want for you and your family is THE job, especially for the business owners we work with.
@squawksquare@Tesla That is quite the take. On the other hand, perhaps let’s back the person who is driving execution of some of the most influential projects on earth today.
@Steph_Bogan Thanks for the kind words Steph. We have a very unique roll to play where we help clients nurture and expand wealth but it is never actually about the money. When used well, money is just the tool to help you spend time with those who matter most and on the things you love.
Inspired by @hjluks, @doctorinigo, @Alan_Couzens, & others am slowly discovering from the data that:
Normal = endurance athlete.
Everything else is sick, even the "normal". One must burn 3-4K calories a day to just be really NORMAL.
Even 132 min/day may be insufficient!
@Codie_Sanchez I’ve found that systems are the only way to move from being reactionary to proactive. Bring reactionary guarantees that you stay where you are at, being proactive helps us make the bigger jumps.