@BowTiedBroke Somebody had a screenshot of a group of young hot chicks eating dinner and she said "My cuties and I talking about #bitcoin".
That tweet coincided *exactly* with the peak btc price.
The more women and weak men are interested in your investment, the more skittish you should be.
So many people feel as if their motivation is non existent and itâs literally because they donât take a break from squeezing their brain for every drop of dopamine it has.
If you are listening to music while you shower. You are fucked. And need serious help.
Our parents were right
It was that damn phone!
Kids barely drive now and almost have no desire to get license too itâs wildâŠ
Cost deff a big factor
but also the way theyâre socialist now re: internet & screen time, etc etc etc = the teens arenât sneaking the car out to go fast / drink in the woods / try to score bjs
Sad state of things
relationship building is the core foundation for any career in finance
being deep in the excel model is only rewarded for the first few years. After that, it is all sales and relationships, both on an external and internal basis
internally, you might be selling your deal to investment committee and getting them onboarded behind the thesis
in many cases, you are also selling to other teams within your organization on why they should join the deal or provide resources for the transaction
you might be responsible for delegating and giving instructions to the analysts or associates, which is a form of sales in its own way
not to mention that as you start coming up for promotions, you will have to sell yourself to your team on why you deserve the seat and not the 5 other very qualified candidates
externally, you are handling communication with clients, lawyers, accountants, consultants and other third parties
the relationship building is critical here. itâs a small world and the same lawyers you work with today might be working with you on the next 6 deals in the future
important to keep that in mind as you approach any deal, always keeping your own reputation and your firmâs reputation in mind
as you move towards becoming an MD, the game is all about sourcing. You are constantly meeting new companies and sourcing new clients or potential investment opportunities
for most MDs, their key value add comes purely from their rolodex. itâs a game of âwho do you know and can you convince them to trust your judgement?â
the excel and powerpoint skills you learn as an associate or analyst quickly becomes obsolete
the point of grinding out 80 hours a week on excel is not so that you know the latest shortcuts. itâs more because you start to get a âfeelâ for the business models and numbers, and can quickly build conclusions as you move up in your career
beyond that, it is all about relationships. best to start building them early in your career
@perpcompounder@HighyieldHarry Taking this even further: I let a LLM summarize the YouTube podcast transcription for me - getting all bullet points in 5min max. When you need to go deeper you can then ask more specific questions and most LLMs will also reference literature from the author, they have read it..
My unpopular opinion is that you will learn 10x more from studying failure than you will by studying success
As Charlie Munger says âinverse, always inverseâ
An easy path to success is to avoid catastrophic failure. Teach yourself what not to do. Rest takes care of itself
the reason I keep saying "you need to do more volume" is because intelligent people win at literally anything once they recognize the patterns
I have never once failed at anything I put my mind to, because I eventually figure out every system and its loopholes
my method looks like this:
1. I find something that I'm interested in. let's say I want financial freedom
2. break that down into smaller sub-goals, like starting a business
3. break that down into steps. a business requires a product and a way to get that product noticed
4. "getting a product noticed" is called marketing
5. if I don't know anything about marketing, I read a book or watch a quick YouTube video
the specific source DOES NOT MATTER. you just want to learn the LINGO
when you learn the language of a subject, you make a map of the territory
some places have already been explored; on a map, these places are the tundras, swamps, or deserts. thereâs no food there
for example, nobody puts ads on spoons. maybe itâs something new that you could try. but 99% of the time, common sense will tell you that itâs a waste
other times, thereâs clear roads to other towns. paths that are well-known. theyâre boring. putting up posters might get you some sales, but itâs not high ROI
and then, the most interestingâthe forests, the caves, the oceans. uncharted territory. very few know what goes on here:
- someone mightâve gone through the forest and discovered paradise. they never want to go back, so youâll never see them. or they found treasure, but why would they ever tell anyone? they try their best to hide their map
- someone else may have stepped in for a little bit, then come back with some fruit. most of the time, theyâre empty-handed
- others have gotten lost and died inside, and youâll never hear from them again
let's call the forest digital marketing using methods such as Facebook ads
we want to get through the forest. what are some basic things we already know? you need some food and water for any long expeditions. to run a marketing campaign, youâll need at least a small budget for adspend
it would also help if you got a little bit of knowledge from other explorers. maybe a wise old man named Chad Jipi Tea tells you the lore behind his scars and stories from his mentors
or, you talk to some young travelers who have scurried in and out. these are your marketing books and videos
you wonât learn everything about how to get through the forest, of course, but theyâll tell you about the tigers (like ad accounts getting banned), so you remember to avoid certain areas
others that can help are merchants or blacksmiths who offer tools. these are your virtual assistants or Upwork contractors
now do you see why it was important to learn the lingo?
notice all the vocabulary I discovered just by drawing myself a map:
- posters
- ROI
- digital marketing
- Facebook ads
- campaign
- budget
- adspend
- ad accounts
- virtual assistants
- upwork contractors
because I learned all these words, I knew what to ask about and who to look for. if I pointed at a blank map, people would call me a monkey. Google wonât return any search results for empty searches
but now that I have a rough drawing of what the territory looks like, I can point to different areas and get more information: âhow do I get across this bridge to get to that town?â
I can prompt with more specific questions. I can start to put the puzzle pieces together
but talking to people all day wonât do much. youâll keep hearing the same stories, with maybe one new fact once in a while
some people might even give bad information. so you need to actually *go* to the forest after you have about 70% of your map. balance learning and execution
make trips through the forest. youâll fall over a branch that nobody told you about because it grew recently. keep going.
youâll get a rash from the white jade bush, thinking it was a delicious white dragon bush. keep going.
you'll see some thick vines in your way, but you cut through. keep going.
machete mindset.
eventually, youâll have spent enough time inside the forest that youâll know so much more than the people outside
youâll be able to spot all kinds of predators, even ones you havenât seen or heard of before, because you notice the patterns. you gain experience from fighting rats, spiders, and goblins, which make you strong enough to fight blue-eyed black dragons
in digital marketing, youâll need to run ads. youâll spend money to see what converts and what doesnât. you start to notice signs: certain colours, words, phrasing. then you keep building
iterate on what works. constantly ÂĄexperimentamos! with new ideas, letting natural selection kill off each bad idea until you evolve into a marketing master
this is why everything is a game that can be won. investing, making friends, martial arts. whatever.
just make your maps and start exploring
Motivation is for amateurs.
Systems are for the sharks.
If youâre relying on how you âfeelâ to get things done, you've already lost
No one is motivated every day
No one wakes up to set the world on fire 24/7
To win- you must execute- by way of building a system that forces output, regardless of mood
Motivation is a lie
It is inherently a transitory emotion
Systems and Discipline are habitual weapons
If your entire plan hinges on feeling âinspired,â youâll never fking build anything
Most people think they need:
Another podcast
Or another dopamine hit of surface level bullshit from another âguruâ retard
What they actually need is a system so tight that action becomes the default
Systems remove decisions and thereby decision fatigue
You donât wake up and decide to work
You just. fking. work. (Shout out to @BowTiedOpossum)
You know when you train.
You know when you do deep work.
You know when to review, reflect, and iterate.
You know your morning protocol, evening shutdown, execution hours.
You donât waste time deciding, or worse, NOT performing
Systems > Feelings
Because systems donât skip leg day mother fucker
Most people fall off not JUST because theyâre lazy
But because they didnât build structure
They try to rely on motivation alone and wonder why they:
Quit halfway through the plan
Burn out after a week and start over every Monday like itâs a goddamn religion
You donât rise to your goals. You fall to your systems.
Build it out such that the default action is the most optimal
Make cheating impossible.
Make forward motion automatic.
Review the scoreboard (like watching your game tapes)
Metrics, data, and performance on a cadence
No fluff.
No âhow do I feel?â
You either did the thing, or you didnât
Motivation is sexy at first- but evaporates at the first sight of difficulty
Systems walk quietly, but carry a big ass stick and are the quiet killer that gets the job done regardless
Stop chasing motivation.
Build the machine.
Dial your game in,
Or get used to starting over.
Savages donât wait for motivation to strike-
They strike on schedule.
Huge Huge risks when switching firms.
1) get unlucky your boss not top performer = political capital smoked
2) you have to grind again or 6-9 months to become liked and seen as a winner
3) kills you *TIME* to build your escape
99.999% of people no way to "make it" with a career
@piggylou73@jchangsta That's it for me as a typical blue collar family child. Don't take any risks, just work more hours, just take on more responsibility at your job. No bets.
Going from risk averse to calculated risk was the biggest change for me - and mentally the hardest.
Why do people default to thinking people with PHDs are smart? Had to get some paper approved by a group - being told what to write and do.
If you had something innovative, you'd start a biz around it, not write some essay that no one will read
BYD isn't just beating Tesla - it's humiliating them:
âą Sold 4 Million EVs in 2024 (Twice that of Tesla)
âą Tesla, Ford, and Toyota fight over its batteries
âą Warren Buffett invested $232M for a 10% stake
How China quietly built BYD into the world's biggest EV empire đ§”
New generation getting soft. If you embrace the future with AI, VR/AR, automation you will be richer than every generation before you times 100
Be on the right side of history. Don't long for the past like a has-been who scored 4 touchdowns in one high school game.
Things you should not bet against in the future
- Crypto
- Job stacking
- The NEET lifestyle
- Social skills
- Gambling
- Gaming
- Degeneracy
- Pets replacing kids
- Increasing drug usage
There will be unlimited opportunities to make money in each of these areas
You can get to the top 5% in life by simply grinding. War of attrition majority quit their biz by year 3, stop working out by 30, give up on all their dreams by 35 (majority 25)
Win by staying in the game
Iâm realizing that when youâre good at taking action you donât really need to put any pressure on yourself đ€
When I begin to stress about something I remind myself⊠I will figure it out.
And because I take action, I know that to be true.
Less worry, more action.
This is closely related to what @BowTiedBull has observed that when you âstop caringâ your results 10x
When you donât care you can handle 100x the uncertainty of the guy who does care