My grandfather's advice (also an entrepreneur) : Do not buy a car UNLESS you can pay cash. Do not buy a house until you can pay cash. Avoid permanent debt. Please note: He retired in his fifties and only had a 3rd grade education.
1/ Went to a Deli for lunch. All take out. While waiting, an 80-yr old man came in and struggled to order. The young lady waited on him, was patient, helpful. She was 19. He left B4 me and I told her she was great and would succeed at anything she did in life. She started to cry.
I never felt successful in my life no matter how much money I made until I could take a nap whenever I wanted. Money was not the ruler, napping was (and is).
2/ She told me I made her day because people that knew her did not believe in her and hearing words of encouragement from a stranger was special and she thanked me. A reminder that we can all brighten a day with a smile.
The
#1
reason to close your personal PayPal acct is to understand that if any gov't or corporation seeks to control your speech by controlling your wallet you must resist. PayPal floated a trial balloon. Shoot it down. Please RT if you deleted or plan to delete UR PayPal acct.
A personal thread of my health journey. I grew up extremely athletic and maintained fitness thru college and then thru my twenties. Rather muscular especially legs. Then 1 year I gained 35 pounds while traveling on business- 26 trips in one year. 1/
1) Real World Business & Marketing: What follows is a Tweetstorm that are real life lessons learned the hard way. This is a mini real world entrepreneurial guide. I included links to blog posts when appropriate. Inspired by RWRI &
@nntaleb
1/ Do you realize how f*cked up this system is to have someone like me up-fronting millions of dollars to bring masks into the US. 3 weeks ago, I did not know an N95 mask from a dust mask. Not a saint, please. We will make money, but the system is dysfunctional.
Turned attention now to masks. We got FDA approval this morning for an N-95 mask. Working with other tribe members to get this to health workers while PulseTV will sell to our 5 million subscribers. Sleep? Who needs it. Tried taking a nap 3times today.
1/ Major lesson for entrepreneurs and please listen. OWN YOUR OWN MEDIA. We sell marginally on Amazon, eBay, Rakuten, Walmart, FB. We got washed away on these platforms because of fraudsters, price gougers, etc. Combined, these platforms represent only 3% of our sales.
The combo of IF & the gym melted weight off. I am 188 pounds as of today and working hard to build muscle. Legs already showing progress. The point of this? It is never too late to get healthy. End/
1/ Friends, my twitter feed has become a Real World Twitter Institute (nod to Nassim). Decided to chronicle this entrepreneurial journey in crisis distribution filling a supply gap. Yes, we make money but challenges pop up daily.
Purifize first pallet delivered...every two hours we pick up from factory a pallet. Power of local. from quote to finished product in 8 days. Twitter gang saw this in real time.
Friends, I am home from the hospital. Twitter can be toxic or filled with love & affection. I am overwhelmed by the prayers and well wishes and extremely humbled by them. What follows is this health episode outlined for it sure feels like a God wink as a Blessing. 1/
A note a friend sent me this morning, it was touching
:
Barely the day started and... it's already six in the evening.
Barely arrived on Monday and it's already Friday.
... and the month is already over.
... and the year is almost over.
... and already 40, 50 or 60 years of our
We often disparage the wage earner as a slave or other epithets. But there are those that are actually heroes. How? They sacrifice for their family to earn a living to put food on the table. They may not be free but they understand responsibility. For that they can be real heroes
Happy New Year! I wanted to share some info that could be BTC signal rather than noise. It is selective but this has informed my Bitcoin thesis. Please understand that I'm not pumping or suggesting anyone speculate. That is a personal decision based upon personal circumstances 1/
If I was a professor of political philosophy, I would begin the education by studying the history of the mafia and how they yield influence. This is real world politics not the pseudo-environments created by politicians.
Here is the spec sheet for KN95 masks. Please, no idiot doctors contact me who want to think this is not a crisis. KN95 are not perfect, but work. Doctors are my new IYIs and hospital admins walking hand in hand. Folks, our problems are more than masks. Shipment arriving 3/31
@TulsiGabbard
Tulsi, I have been a fan for some time...and I cannot stand Bezos. But I think whoever tweeted this on your behalf does not represent an evolved mindset. You might want to delete this tweet.
eBay took down our sanitizer product...Amazon took down our entire store on their site... Customs holding up masks...attorney generals from several states hounding us while we deal with Covid. No sympathy needed, but this piles up when working around the clock.
I am nothing close to a philosopher, but I keep asking the question: What makes entrepreneurs and some soldiers act when so many seem paralyzed with either fear or indecision? Obsessed with this issue right now.
Prior to the 1930s, diamond rings were not given to women for engagements or weddings. This was a marketing masterstroke by the De Beers family and they changed culture (at least in the US).
Amazon having huge problems... not just with product, but everybody gaming "in stock" policy. Amazon's MBA culture of *efficiency* killing them with people ordering from home. Prime was always a money loser...now losses are scaling
Joe Rogan!!! I am also hopping on the Tulsi train. I thought I would never vote again... but she will save lives and not surround herself with neocon assholes.
Everything I thought I understood about simple economics seems to be wrong. If the government can just print money and give it to failing companies and out of work people with no consequences, why are taxes levied?
I’m one of them.
@Snowden
revealed that Trump-haters Clapper and Comey among others were illegally spying on Americans.
Clapper lied to Congress about it.
@realDonaldTrump
should pardon Snowden!
Reading Mandelbrot's (Mis)Behavior of Markets is the first thing I have read since reading NNT's Incerto that has the feel of explaining the essence of reality well beyond its specific domain. I am reading slowly and savoring every page.
OK, it took me 3 days to finish this 3 hour, 31 min. video conversation between
@stephen_wolfram
and
@nntaleb
. Well worth the time to further explore where your (my) ideas diverge and converge, Superb!
Health update: On Feb.28th, I embarked on an aggressive workout regimen AND intermittent fasting plan to shed 20+ pounds. I got my blood sugar results this week. My A1C went from 7.0 to 6.2 and I am nearly off all diabetic meds. I slimmed from 212 to 189.
I will never stay silent about our government's and MSM's lust for war and will call out every pinhead jackass who lie to bring death & destruction abroad. if you have a few minutes, read Taibbi's latest:
1/ Tweets for budding salesmen. These are lessons I have tried to impart to my son who decided he wanted to be a salesman. These are practical HEURISTICS.
Can someone explain to me why Bitcoiners seem to think that BTC replaces gold and why they cannot co-exist? Silver and gold exist... I must be missing something because people can and do own both.
2nd order effect of Covid: elective surgeries way down leading to less iatrogenic deaths caused from incompetent doctors who should have been Lyft drivers rather than go to med school
This sounded like
@nntaleb
<<You can't live a perfect day without doing something for someone who will never be able to repay you. - John Wooden, Basketball coach>>
Scored a second factory today to make sanitizer. Going online by Wednesday. Also, one block from office so we will be hiring family members of our staff who have been out of work. meanwhile, was reported to California attorney general for price gouging. Bring back dueling...
Been studying business models for many years. A business model is a narrative dressed up with a patina of math to aid gravitas. The real world destroys these narratives. Models across all human domains share this quality.
9/ Filling a supply gap is not easy but if you ACT fast and do not torture decisions, you can make it work. I discovered the higher IQ someone has, the more they torture decisions. They are not built for this kind of action. Balls not brains are needed. End of lesson.
Treating your home as if it was an investment makes the place you build your hopes and dreams with your family nothing more than a commodity. Commodifying one's home is a modern concept...and not a good one.
Note to young, future entrepreneurs. Who you marry is immensely important for your journey. You need a partner that will not buckle under the pressure of fragility and uncertainty. This may be general advice, but especially critical for entrepreneurs.
What is more important to our nation? Ending the "war on drugs" or making an issue about a Jefferson statue? Which one has more impact on minorities? Prison reform vs hate speech? Military spending vs changing mascots? Elites AMPLIFY the silly issues and crowd out real issues.
Taxation is theft
The military draft is slavery
Facial Recognition used by the State is totalitarian-worse than STASI
Our food supply is poisoned 4profit
Corporate welfare is the WORST kind of socialism that few talk about
Wars for Empire drain spiritual and financial resources
Samson, his point is correct regarding Bitcoin as a currency. Its volatility makes it a terrible currency. If you were an e-commerce company, your would get this immediately. Retailers want and need a stable currency.
One of the disturbing things on Twitter these days is to see the rift between friends who shared so many areas of interests and affection. Maybe Twitter is the catalyst but I wish we could be more tolerant of our friends and overlook disagreements.
Business consulting as a profession is problematic for me. Why would anyone become a consultant rather than enter the arena themselves? One exception is the aging consultant who made their fortune and just want to pass on their knowledge and experiences. Otherwise, beware.
There is no such thing as an "antifragile human being". It is the pinnacle of arrogance to believe that. We are all one step away from our demise. One can have antifragile attributes, but to think we are anything but fragile is a lack of humility that life will humble you.
Health update: Just got back with meeting the surgical team. Batter up! Checking in Wednesday for surgery Thursday. Triple by-pass. I am ready to go.
@TMessi_1
will be in contact with the family and let Twitter friends know how it goes.
Entrepreneurial tip: There will be many shortages of "things" during these hard times. If you identify those shortages and solve supply chain issues to fill that supply gap, you will reap huge rewards satisfying demand. Creating demand is more difficult than satisfying it.
It occurred to me that part of what makes Nassim overwhelmingly influential is his Real World Risk Institute. 3x a year a new band of brothers and sisters are schooled in fat tails and are like a BS busting army with General Taleb aiming the canons.
Non-entrepreneurs listen up. Entrepreneurs have insecurities like everyone else. These just do not paralyze action for most of us. My sons think I am fearless. I keep telling them, nope...it is just that fear does not drive the bus. Fears & insecurities are poor bus drivers.
F
@ckn
morons who want to raise taxes in the US w/o first addressing $2 trillion WASTED IN IRAQ alone in 16 years. (oh, at least 100,000 dead Iraqis as a bonus).
@Kasparov63
@RadioFreeTom
@nntaleb
Mr. Kasparov, unlike you Dr. Taleb is a man of integrity. Assad’s father actually blew up his home in one war years ago. But Taleb has principles and knows that these jihadist mercenaries from all over are ruining the area.
Fat Tony couldn't give a sh
@t
about the utility of BTC or ETH. If there is a trade to be made to make money trading 'em, this is what matters. Critics and cultists are talking noise past each other.
If you're an entrepreneur, ignore anyone talking to you about branding. Make sales & profits first. Ignore the quacks who tell you how & why you need to brand. Branding will come later. The order in which you do things matter. Agencies & consultants 1st order of biz is to rob you
Apparently this country is full of
#UnusualAmericans
who want to hear more from Tulsi despite MSM smears/blackout. Thanks NYT for giving a name to our movement of patriots from all walks of life!
#DemDebate
#TULSI2020
Did not tweet much. Warehouse employee is in hospital with COVID. She is in good shape, but not well enough to be discharged. The entire warehouse has been exposed. And we are assuming all the office. Warehouse is 3 blocks away from office. God help her.
@nntaleb
The crowd sourcing of anti-BS is something fundamentally new. All you need is a critical number of dedicated folks with the knowledge base to apply that knowledge. The "experts" (or Elites) are extremely threatened by this bottom up approach.
One sign of maturity is how well you can tolerate others with whom you manifestly disagree with. This does not mean you can't argue with them, even aggressively, but understand that most of the time, you do not need to take it personally. Twitter seems antithetical to this.
"We are obsessed by prediction while we should focus on what our exposure to uncertain outcomes is all about. What matters is not, say, the uncertain outcome x but how it affects us."
--From Convexity and Conflation Biases
1/ Marketing in a Pandemic; First rule, ignore all marketing experts. Old rules do not apply. In most cases, you SHOULD NOT think about creating demand, but responding to demand. In fact, "selling" during a pandemic is gauche or vulgar. Satisfying existing demand is uplifting.
1/ You want to know the REAL PROBLEM with the shortage of PPE for hospital workers? Most of what you see on TV is utter BS. The states, federal govt, and hospital admins are gripped by an appalling lack of imagination. There is definitely a crisis, but the system is not in
Health update: I am humbled by all of the prayers and well wishes. I will just give a brief update and hopefully will write a long form essay on this journey. But here are the highlights: