Several years ago, the Reserve Bank of Malawi concluded that it was not ready to legalise cryptocurrencies and would instead maintain an observer position while monitoring developments.
I think it’s time for the bank to rethink its position.
I think the most radical thing I have learnt as a tech entrepreneur, all the many moving pieces considered, is the limitation of unviable markets. These words keep ringing true in my head: just because there's a gap in the market does not mean there is a market in the gap.
I pull at these threads further in Book #2 of the Lessons series [you will enjoy!] It is deeper than present-day phenomena, tracing patterns that predate even colonization.
P.S. you can get free copies of the books by simply subscribing to @LessonsCon via https://t.co/KXn9b2dHK6
1/3 Thrilled to sit down with Fields Medalist Terry Tao on Aug 8th to discuss the intersection of AI & Math! Since joining @axiommathai in December, exploring these frontiers through formalization has been my focus. An absolute honor to moderate. @leanprover
Everyone who thinks AI slop will ruin code efficiency/performance is going to be so surprised when everything is absurdly well-optimized John Carmack style machine code.
Martin Shkreli reveals what separates great traders from everyone else
"Traders are risk managers, fundamentally. Alpha is critical, but you cannot be a trader without excellent risk management."
"You have to be able to get out of a losing position, which for so many people is really hard to do. To a great trader, it's very easy. But you also have to be able to resist lots of different impulses. You can't be impulsive.
"That's why not many people are great traders. If anybody could be a great trader, you could easily get to a billion dollars in your personal account, but it's very hard."
"Bad traders will either change their mind too quickly, or never at all. Eventually, enough stubbornness will lead you to bankruptcy. But if you unloosen that screw too much, that's not very good for stocks you really believe in that could go up 10 or 20 or 30X."
"Good traders know when to get off the ride and not overstay their welcome, which I recommend after a 10x, 20x, 30x. You don't need the last 2x, you got most of it."
"You're not paid to calculate, analyzing, channel checks, modeling, research. You're paid to make this line of PnL go up. That's the only part of the job that matters. It doesn't matter if you were right in the long run. All that matters is this line going up."
An initial startup idea can't usually be both grand and precise. In practice they're usually either grand and vague or precise and small. Precise and small is better. You know who your initial users are, and you expand outward. With grand and vague you can't even get started.