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My accountability journal towards economic mobility


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Hello.  I just completely a strategy session with Steve Jabba today. We concluded I am smart, and have good ideas, but have a profound weakness in my inability to implement and stick to the best idea, long term.  After battering some ideas, though good, I am not well positioned for (such as language learning), we concluded that I would do best to build on the past success of my math and science tutoring and bring it to the digital age.

This was well worth the price. Because without the session, I'd be wandering uselessly trying to implement ideas i know nothing about.  Then getting back to my old habit of giving up when insufficient progress is made over the weeks/months.  Steve told me I need to measure this in years, and this new focus will help.

action plan: I am learning how math thinking and math tools can be useful to people's lives.  I am transitioning beyond the basic "teach the test" and trying to bring real value to people through digital medium.  Making good quality video is the main focus for the foreseeable future.

also, I am blind to design, and it's good for someone with success in this to point out glaring flaws I refused to see.

I will keep yall updated.  my youtube channel i will create will focus the activity.  FIrst topic: Why the compound interest billionaire is a myth: historical ways to acquire wealth

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Hey,

Good to talk yesterday.  For those reading, the strategy session was booked through the remote coaching offering on this forum.

My areas of expertise:

  • Dating - daygame, nightgame, online.  Anything to do with attracting women.
  • Living outside the system 
  • Making money online

Vince  :

Get your 1st video done and post here in the journal.  Either unlisted (before it goes live) for feedback, or set it live and we can look at it here and tell you what we think. 

Remember to get straight to the point in the video, either with an enticing intro that intrigues them and makes them want to watch more 

"You've probably heard of compound interest.  But is it REALLY possible to become a millionaire just by investing $5 30 years ago"

Or informing them of the content to come.

Cheers!

 

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here is my first draft for my first video. decided not to tackle compound interest yet, but to tackle a silly meme instead.  it'll take some time to convert it into a video:

 

There is an old t-shirt meme that goes along the lines of “I spent 15 dollars and all i got was this lousy t-shirt.” As humorous as this meme tends to be, it does bely a key point - time and money can be spent badly.

This may seem as banal as a Jordan Peterson comment, but there are some key ideas worth mining in this “lousy t-shirt.”  

The first idea is the most obvious - once money is spent on something, that same money can’t be spent elsewhere.  If I have 15 dollars, and want to buy both a 15 dollar t-shirt and a 15 dollar book, I can only buy one of those items. This is common sense, but it is often easy to forget that once money is spent, it is no longer yours.   

The second idea is that time and money function differently. Time can only be spent now - money can be spent later. The owner of the t-shirt could have simply waited to find a better opportunity to spend 15 dollars. There is a connected idea of inflation, but that is beyond the scope of this video.

This idea, that money is untethered from time, allows for the existence of financial institutions. You cannot spend money to buy back yesterday, but you can provide capital to a company through stock investing in return for a share of potential profits. There are countless investment schemes that revolve around trading time for money - another is to give a loan to a company in the form of bonds in exchange for that money back, plus interest. And of course, there is speculation in asset growth of things like cryptocurrencies, which remains an unknowable future.

The final idea is that financial gains tend to clump around a few precious winners.  Back to cryptocurrencies, there are hundreds if not thousands of cryptocurrencies now.  It is impossible for all of them to thrive. In the same way the american dollar crowds out gold as a medium of exchange, only a few cryptocurrencies will survive a mass adoption phase.  It’s also what happened to myspace when facebook entered the scene - eventually enough people preferred facebook that myspace had to stop being a social network and became a platform for musicians to advertise their work.

So what to do? I obvious cannot give financial advice, but these three ideas hold true in all of economic activity. It is essential to spend money wisely, because once spent it is no longer yours. Money can be transformed through time to either more or less money later, depending on the realities of the future. And our current economics is very similar to winner takes all, making financial strategies a little tricky.

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