Marvin’s Best Weekly Reads July 4th, 2021
"Do not follow where the path may lead. Go instead where there is no path and leave a trail."--Ralph Waldo Emerson
Good to know.
"Current trends Hernandez is forecasting revolve around the drink space: ranch water, chagaccinos, apéritifs, THC-infused drinks, and hibiscus. What she does from there is try to weed out the gimmicks from the legitimate products and recommend the latter to her readers."
https://www.thrillist.com/eat/nation/snaxshot-profile-andrea-hernandez-food-trends
2. This is pretty funny.
https://thehustle.co/how-tomatoes-took-over-twitter/
3. "While there may still be space for cryptocurrency in China, it seems the CCP authorities have finally concluded they have little to gain from nurturing anti-authoritarian technology. On the whole, their loss could be the world’s gain but there are still likely turbulent waters ahead."
https://www.coindesk.com/watch-traders-not-miners-china-crackdown
4. Dollar stores are crushing it in America for all the wrong reasons. ie. decline of middle class and stagnant wages.
https://thehustle.co/the-economics-of-dollar-stores/
5. Peloton crushing it. Also shows how backward and awful the music industry is.
"The company, which went public in 2019, has a market cap of around $30 billion. It has signed deals with Peloton member Beyoncé (on classes that celebrate her music) and member Shonda Rhimes (on a campaign called Year of Yes, designed to build self-confidence and encourage regular exercise).
And Peloton, whose bikes start at $1,895, has done it all by carefully controlling its production values, smartly promoting its instructors, and making music integral to its ethos, as 17 interviews (with company execs, instructors, industry sources and former employees) attest."
https://www.hollywoodreporter.com/business/business-news/hollywoodization-of-peloton-1234964386/
6. "If one were to dissect the self-made industry titan’s path to success, Braun has clearly been a calculating figure in his years-out development of artists’ careers, but he’s also demonstrated a Forrest Gump-ian quality of being in the right place at the right time and, more recently, an understanding and appreciation that the universe lets the chips fall where they may."
7. Fast & Furious Tokyo Drift was the best one in my opinion. Loved the Han character. A very cool cat I want to be more like.
"Kang played Han with a studied, laconic charm, and it put his unpretentious but undeniable good looks on display: all high cheekbones and sweeping curtains of hair. But Han is also a deeply melancholic character, someone who’s cool and collected and has a story you’ll never hear all of. It’s an odd choice for the second lead in a franchise reboot, and a more delicate touch than the Fast movies had seen before, or since.
“He's the guy that is in control of his, you know, his room, his world, but yet it's easygoing,” Kang says. “So where do you get that? Where do you get that confidence, that purpose? And so, you know, I hung out with a lot of dudes from L.A. that have that swagger. And I was like, where did they come from? It comes from community, man.” It’s clear that Kang was pulling from the Newman and McQueen playbooks — with an added Pitt-esque obsession with constantly snacking. What’s most surprising is how well his performance worked."
https://www.gq.com/story/sung-kang-han-fast-and-furious-f9-profile
8. This is why I do what I do.
"That’s why leaving your home country for a few days or weeks can act as a reset, allowing you to get a more wide view of the world beyond the rigid mental walls you’ve built over the years."
https://theprofile.substack.com/p/traveling-mental-frameworks
9. I love this story. Goes to show the Silicon Valley way is not always the best way.
"By the time Tangney started his next venture, Doximity, in 2010, he’d learned a few things: Don’t raise too much money. Don’t burn too much cash. Fix a real problem for doctors.
On Thursday, Doximity debuted on the New York Stock Exchange, closing the week with a market cap of almost $10 billion after raising around $500 million in its IPO. Tangney’s stake is worth $2.9 billion."
10. Very good to know! Get multiple passports if you can! #Citizenshipinsurance
https://nomadcapitalist.com/2019/10/23/how-to-travel-with-two-passports/
11. Yikes.....
"It’s hard to criticize the venture capitalists when they seem to so effectively be doing what they’re supposed to, earning money, just realize that having VCs invested is no indicator of quality. Often they have done no more due diligence than the average anon Twitter account in your mentions screaming #XRPTOTHEMOON."
https://bennettftomlin.com/2021/06/12/why-i-have-zero-faith-in-crypto-venture-capitalists/
12. A talented actor here.
13. "Bitcoin is energy stored as value —> 10,000 miles away or 10,000 days into the future.
Bitcoin defined as a battery -->
Bitcoin converts electrical energy to economic energy. The energy can then be transferred or stored with virtually no loss in energy (value)."
https://bowtiedbarbary.substack.com/p/btc-is-a-battery
14. DEFI!
"To reiterate, the reason why the opportunity is so large is two fold: 1) you have fiat money being printed at all times and 2) you have *much* lower cost of business as people are being replaced by lines of code - same thing that happened to the music industry when it went digital.
You are in the Wild West. If anyone says it will be an easy road, they are lying. If anyone says they never miss, they are also lying. Mark Cuban got rugged with TITAN. Every single wealthy DeFi investor has gotten rugged. There is just no way to learn something without making mistakes. The best you can do is learn as much as possible and stay on top of all the changes"
https://defieducation.substack.com/p/opportunity-risks-and-going-down
15. This is a great interview. Always learn stuff from Chamath.
https://www.youtube.com/watch?v=wKHCCZnGzzE
16. "The idea that you have to follow a particular set of rules that other people set for you to qualify as a “real man” is a form of psychological slavery.
People want you to do things in their best interests – they don’t care about you.
Think for yourself, ask yourself “why”. Is doing the thing they want you to do, being how they want you to be, and taking on the responsibility they want you to take – is it in your best interests or not? Sometimes it is, but mostly it’s not.
You are not a donkey, so stop letting people manipulate you into becoming a beast of burden."
https://lifemathmoney.com/what-is-a-real-man-the-real-definition/
17. “I think it is a stunning fact that China, just as it becomes successful and more wealthy and more powerful, has managed to alienate one country after another,” said Schell."
18. Singapore ahead of the curve again. This "living with Covid" plan does seem to make sense. Admire the pragmatic approach which I doubt will be adopted any time soon by others.
19. "I suspect an interesting byproduct of an abundant society is increased mental illness. As we have more time and ability to focus on our new fundamental purpose, we may struggle to make sense of this changing world. The fundamental question of how to find our place and sense of belonging in society will eat at our sense of self worth.
But what is clear is that in a world with UBI, the value systems of society will change. Wealth and status this reshaped society will come from an ability to create, entertain, and become culturally productive. The ability to service the populations higher order needs."
https://dougantin.com/the-consequences-of-universal-basic-income/
20. "It’s the rare person who has an independent mind capable of looking at everything on its own merits and who can think outside of these simplistic tribal group think patterns. If you’re one of them, then your mistake is thinking other people fall into the same category because they don’t. You might as well be arguing with a non-player character in a video game.
The truth is, all money is the same at its core, whether that’s gold, Bitcoin, or the US dollar:
--It’s only valuable because we believe it is and it’s backed by nothing but our faith (and violence, in the case of fiat currencies)
--It’s a massive energy suck that serves the purpose of keeping the wheels of commerce turning"
21. This looks so damn good. The Foundation series.
https://www.youtube.com/watch?v=OcjxbQ8ItvM
22. "By embracing and mandating a state-controlled and distributed monetary system in the form of a digital yuan, the CCP will be able to further control every aspect of the lives of China’s 1.2 billion citizens. With the digital yuan, the CCP can monitor and manipulate the spending, earning, savings, and behavior of Chinese citizens. The CBDC furthers the goals of China’s infamous social credit score system — the national blacklist launched by the CCP about a decade ago — and its mandated adoption comes with the additional bonus of giving the government even more surveillance tools over citizens’ movements.
Now, Bitcoin serves as the antithesis to both China’s digital yuan and social credit score system. When properly secured, your Bitcoin cannot be confiscated, stolen, or hacked. Moreover, the Bitcoin network functions as an entirely market-based decentralized network."
https://dossier.substack.com/p/why-china-fears-bitcoin
23. “In chaotic situations, creativity takes over. We understood that unless we work hard to develop our country, we won’t move forward.”
In the span of just a few days in February 2021, two earthquakes shook the capital. Warm weather timidly appears only for an hour or two, until biting cold, rain and heavy snow rush back — a warning that the gentle awakening of spring won’t come easily this year. Yet on sunny days, at golden hour, Yerevan lives up to its “pink city” epithet. A warm hue surrounds the city, making it look like it’s rising from the ground up to the sky — proof that beauty can still be found even in the hardest of times. “Pain, whether at the level of a person or a country, always has a chance to affect positively because it gives you a space to open up and try new things,” says Sukiasyan. “Against all odds, the cultural scene in Yerevan has the opportunity to gather momentum, to be in its best moment.”
24. "We do not believe it will be easy for someone to compete under their own names anymore. In the “creator economy”, you have to be different and interesting. The only way to be different and interesting is to say controversial “in the grey/black area” stuff. That means it’s easier to do these things as an anon. Good luck posting jokes about escorts or “dank memes” under a corporate drone face. You’ll be fired instantly."
https://bowtiedbull.substack.com/p/the-jungle-and-creating-your-own
25. I am not sure how I feel here. This is a hopeful & interesting solution, yet horrified at the underlying causes of this growing homelessness in what is supposed to be the world’s wealthiest country.
“If the Great Recession was a crack in the system, Covid and climate change will be the chasm,” says Bob Wells, 65, the nomad who plays himself in the film Nomadland, an early Oscar contender starring Frances McDormand. Bob helped April to adopt the nomad way of life and change her life in the process.
Today, he lives exclusively on public lands in his GMC Savana fitted with 400 watts of solar power and a 12-volt refrigerator. His life mission is to promote nomadic tribalism in a car, van or RV as a way to prevent homelessness and live more sustainably."
26. For the record, many countries do the same. This is not new.
"There are a number of PMCs in Russia, but the Wagner Group typifies the way global business and geopolitics operate in Putin’s Russia. Mercenaries who work for companies like the Wagner Group provide security to sites (such as mines and oil fields) that are of strategic interest to the Kremlin and its kleptocrats.
PMCs also perform such functions on behalf of foreign governments, and in this way, they have become an important tool for the Kremlin to promote its foreign policy objectives. For each of the key parties involved — the Kremlin, foreign governments, state industries, and private business interests — PMCs not only offer lucrative opportunities but, due to their quasi-legal structure, also provide plausible deniability for their clandestine activities."
https://newlinesmag.com/reportage/the-soviet-origins-of-putins-mercenaries/
27. "There are threye ingredients in great work: natural ability, practice, and effort. You can do pretty well with just two, but to do the best work you need all three: you need great natural ability and to have practiced a lot and to be trying very hard. [1]
Bill Gates, for example, was among the smartest people in business in his era, but he was also among the hardest working. "I never took a day off in my twenties," he said. "Not one." It was similar with Lionel Messi. He had great natural ability, but when his youth coaches talk about him, what they remember is not his talent but his dedication and his desire to win.
Working hard is not just a dial you turn up to 11. It's a complicated, dynamic system that has to be tuned just right at each point. You have to understand the shape of real work, see clearly what kind you're best suited for, aim as close to the true core of it as you can, accurately judge at each moment both what you're capable of and how you're doing, and put in as many hours each day as you can without harming the quality of the result. This network is too complicated to trick. But if you're consistently honest and clear-sighted, it will automatically assume an optimal shape, and you'll be productive in a way few people are."
http://paulgraham.com/hwh.html
28. This is a really good idea. Arming the creators. ie. Be the arms dealer. :)
29. Been a fan for a very long time.
"There’s a softness to Brosnan — in both voice and temperament. He’s clearly content, happy to follow his own path and be his true self — but he’d never let this freedom of spirit bring detriment or discomfort to others. Speaking to the actor, one thing is clear: we should all be moreBrosnan. Because this is a happy man happily growing old. He’s happy for his hair to go grey — “I just let it go…”. And he’s happy living by his short, time-tested list of considered mottos and mantras.
“Be kind,” he says, checking them off. “Show up on time. And be patient. You might have to step back and take a breath. You might have to think about what you’re doing, think about the situation. I don’t get angry. I could get angry — but where would that anger go? There would be no point.”
30. "Wall Street is not a nice place. People are not exactly known to sing together around the camp fire. They operate in a cut throat, ruthless world. In fact, there was a class action lawsuit recently filed against many of the top banks for an alleged collusion on federal antitrust grounds related to CDS pricing and trade execution. You really want some of these organizations to run your exchange or be the counterparty to your transaction? Probably not.
I say all this because we have to remember the pros and cons of the entrance of Wall Street. It will likely be a net positive, but it won’t be without some ridiculously nasty stuff. Keep your head on a swivel out there. Stay alert. And most importantly, remember the importance of decentralization and sovereignty."
https://pomp.substack.com/p/wall-street-brings-pros-and-cons
31. "To lie flat means to forgo marriage, not have children, stay unemployed and eschew material wants such as a house or a car. It is the opposite of what China’s leaders have asked of their people.
While plenty of Chinese millennials continue to adhere to the country’s traditional work ethic, “lying flat” reflects both a nascent counterculture movement and a backlash against China’s hypercompetitive work environment."
https://www.nytimes.com/2021/07/03/world/asia/china-slackers-tangping.html
32. There is a lot of macro economic stuff here. Not just crypto. Very much worth a read.
"As stablecoins grow and silo high quality liquid assets, which are the same assets central banks like to use to suppress volatility, US will either fight against stablecoins or adopt them into the system.
Politicians love using a weapon against their enemies when it is disguised as an olive branch.
Bringing dollar stablecoins into the traditional system would not be striking at China or intended to destroy weak currencies and cement dollar supremacy, it would be for the good of countries and people currently cut off from dollar swap lines."
https://www.radigancarter.com/dispatches/a-tale-of-two-eurodollars
33. Interesting way to play the economic growth in Africa. The African Lions Fund.
https://www.youtube.com/watch?v=eH7xuYj8Ls0
34. This is a great thread for European history fans like me.
https://twitter.com/NewJersey_Rob/status/1407357975463972865
35. Great discussion on Asian economic development which has relevance for most of emerging markets.
"And the upshot of that grand theory is that countries have to basically wait in line to get rich. There’s just no way for them to all hop on the rapid industrialization train all at once. Better policy can let you cut to the front of the line, but then the countries you cut in front of are out of luck.
To be sure, this is a highly stylized, pretty speculative theory, which is even harder to prove than Studwell’s. But it kinda-sorta fits the observed pattern in Asia — first Japan and Hong Kong and Singapore grew quickly, then Taiwan and South Korea, then China, now Vietnam and Indonesia. Malaysia and Thailand got a head start on China but then slowed down after the financial crisis of ‘97, while China accelerated — perhaps because China “cut in line” in front of the Southeast Asian tigers. But now, with China slowing down, perhaps Malaysia is back at the front of the line."
https://noahpinion.substack.com/p/what-studwell-got-wrong
36. Africa is one of the most exciting tech business opportunities of the future. This excellent write up shows why.
"Many may have become convinced of the “African opportunity” by observing the demographic zephyrs powering the continent into the coming decades. No other region on earth is poised to undergo such explosive growth across so many dimensions.
With massive demographic tailwinds, a growing capital base, a cohort of companies building necessary infrastructure, the next century may very well belong to the continent. We can hope that as its position on the global stage grows, more granular detail, more profound analysis, and greater attention is given to the industries and companies it hosts.” https://www.readthegeneralist.com/briefing/africa
37. This is really creative. Ikea Hacking or Ikea as a platform! :)
"This type of upcycling, called Ikea hacking, has been on the rise during the pandemic.
And for companies that sell custom Ikea-friendly fixtures — legs, couch covers, knobs, and cabinet doors — business is booming.
Broadly, Ikea hacking is any form of upgrading, customizing, repurposing, or personalizing a piece of stock Ikea furniture.
The movement gained steam in the mid-2000s, when popular DIY blogs like Ikea Hackers and Instructables began offering up easy, affordable tweaks to popular items like Billy bookcases and Kallax shelf units.
At first, Ikea wasn’t a fan of people customizing its furniture and even sent Ikea Hackers a cease and desist. But since then, the company has embraced its hackers.
And over the past decade, this once small and wacky community has burgeoned into a full-fledged industry."