This installment of The Pomp Letter is free for everyone. I send this email to our investors daily. If you would also like to receive it every morning, join the 93,000 other investors today. To investors, Graham Duncan, the co-founder of East Rock Capital, appeared on the
Practical advise -- use food/ grocery delivery/ cooking services {unless it is a bonding moment with family/ friend/ spouse} & spend that time on learning, relaxing or anything. Even if you don't have the money today, for everyone reading this, you are or will soon get in the class where your time will be more than $10-30/ hr. {that's the tip you pay for grocery delivery!}. Have a good week!
George Bernard Shaw put it, "Youth is wasted on the young." They are time billionaires but they squander it. It's human nature to squander what you think you have in abundance. Same way the rich often squander wealth on material possessions.
Here is the problem. Nobody in life thinks in Seconds. 30 years X 365. 10,000 days. That's it. Ask Steve Jobs. Ask Paul Allen. Ask Kobe. If had that kind of wealth. Why wouldn't you put into something that would make your life better longer. Why with all the things that I a have accomplished and found the answers. Would I give my fortune to Warren, Charlie and Bill. I solve problems. I will solve this one too. I am Satoshi.
I've always considered time and money as two seperate resources that rarely coincided for me. This science fiction style equation where one could purchase the other is an excellent thought exercise.
But there is a third characteristic exemplified by the vacuous sadness of some who have both; but don't properly value either.
The tension between the two currencies becomes slack when a time billionaire is also the monetary kind.
I have been thinking about time a lot lately. A few reasons, one as a way to explain the value of bitcoin vs. fiat; bitcoin captures the value of two fundamental values time & energy, the time it takes to solve the proof of work and the energy needed to do the proof, a combination of the most scarce asset in the universe (as far as we understand) time and the most abundant energy. Second, I have been investing time in projects/startups. The equity, learning, and relationships have a higher expected future value than the fiat I am spending in order to allocate my most valuable resources time, energy, and knowledge to these ventures. Third, more in line with Graham Duncan's point, looking at the meta of my life and spending my billions (I hope;) of seconds in a way my future self will most appreciate, for example with my children, on my physical and mental health, on relationships that exchange positive energy. Thanks, Pomp this post pulled it together really well.
Amazing switch of perspective in a world where it's so vital we flip our state to one which is focused on our "non-refundable minutes" and time as our greatest asset.
Love this. What a great way to think about your most valuable asset, TIME. To take the "Other side of the trade" so to speak, it can't be discounted that we only get one short life.
I'm certainly not advocating a complete YOLO lifestyle, but I think a blend (like a well balanced portfolio) will serve people of all ages well. Consider that your time is very finite and who knows how much you actually have left, but also, if you're young you likely have a lot. Balance accordingly :)
Hi Pomp, thank you for taking the TIME to share this. It's a fresh perspective that might have just started a big thought process about how I view my life.
100% agreed with everything!
Practical advise -- use food/ grocery delivery/ cooking services {unless it is a bonding moment with family/ friend/ spouse} & spend that time on learning, relaxing or anything. Even if you don't have the money today, for everyone reading this, you are or will soon get in the class where your time will be more than $10-30/ hr. {that's the tip you pay for grocery delivery!}. Have a good week!
George Bernard Shaw put it, "Youth is wasted on the young." They are time billionaires but they squander it. It's human nature to squander what you think you have in abundance. Same way the rich often squander wealth on material possessions.
Extraordinary this article. You really made me think about it. I appreciate it so much.
Here is the problem. Nobody in life thinks in Seconds. 30 years X 365. 10,000 days. That's it. Ask Steve Jobs. Ask Paul Allen. Ask Kobe. If had that kind of wealth. Why wouldn't you put into something that would make your life better longer. Why with all the things that I a have accomplished and found the answers. Would I give my fortune to Warren, Charlie and Bill. I solve problems. I will solve this one too. I am Satoshi.
I've always considered time and money as two seperate resources that rarely coincided for me. This science fiction style equation where one could purchase the other is an excellent thought exercise.
But there is a third characteristic exemplified by the vacuous sadness of some who have both; but don't properly value either.
The tension between the two currencies becomes slack when a time billionaire is also the monetary kind.
I have been thinking about time a lot lately. A few reasons, one as a way to explain the value of bitcoin vs. fiat; bitcoin captures the value of two fundamental values time & energy, the time it takes to solve the proof of work and the energy needed to do the proof, a combination of the most scarce asset in the universe (as far as we understand) time and the most abundant energy. Second, I have been investing time in projects/startups. The equity, learning, and relationships have a higher expected future value than the fiat I am spending in order to allocate my most valuable resources time, energy, and knowledge to these ventures. Third, more in line with Graham Duncan's point, looking at the meta of my life and spending my billions (I hope;) of seconds in a way my future self will most appreciate, for example with my children, on my physical and mental health, on relationships that exchange positive energy. Thanks, Pomp this post pulled it together really well.
Amazing switch of perspective in a world where it's so vital we flip our state to one which is focused on our "non-refundable minutes" and time as our greatest asset.
Love this. What a great way to think about your most valuable asset, TIME. To take the "Other side of the trade" so to speak, it can't be discounted that we only get one short life.
I'm certainly not advocating a complete YOLO lifestyle, but I think a blend (like a well balanced portfolio) will serve people of all ages well. Consider that your time is very finite and who knows how much you actually have left, but also, if you're young you likely have a lot. Balance accordingly :)
Everyone is going to die with zero anyways!
Hi Pomp, thank you for taking the TIME to share this. It's a fresh perspective that might have just started a big thought process about how I view my life.
Wow... I’m a billionaire! What a great perspective!!