Hope everyone is enjoying the weekend! The US Dollar keeps going down - what you get paid in will now buy less. While the alternate financial system built on blockchain continues to build more value. If you’re not paying attention, you should be. It’s like figuring out that the Internet is a big deal in 1995…
“Most people overestimate what they can do in one year and underestimate what they can do in ten years.” - Bill Gates
Translation: Humans, in general, are bad at estimating how long things will take. When things don’t happen overnight, people write it off (desire for instant gratification). Then they are “blindsided” by the impact down the road. Do you think executives at Sears didn’t know what the Internet was in the ‘90s? Of course they did, they just didn’t think it would impact them (and their nice pay packages) in the near term - so they didn’t invest, and now Amazon is worth over $1.5 trillion dollars and Sears is worth maybe $60 million. Today, people are underestimating the coming impact of things like blockchain (an entire financial system is being built), among other big technological revolutions like electric and autonomous vehicles.
Recap: Rickards and Keith talk about the current investing landscape and the path forward
Comment: We like the bluntness of conversations like this. They don't make up news or facts, but rather lay things out how they are. Rickards is a career-long fan of gold (we've been very optimistic on precious metals/miners for this year) - worth it to get his perspective.
Recap: Overhyped and buzzwords abound — is Blockchain technology disruptive and the next generation of the internet? One thing is certain — consumers are demanding transparency, efficiency and trust, and Blockchain technology provides one source of truth and it is immutable.
Comment: We talk a lot about blockchain, not because we like the word or make money off of telling you about it. But because we believe it is a major underlying technology that will help improve many industries and the world, and if you're educated on it now, you will be well prepared for the future.
Recap: Article highlights how Sears had multiple chances to maintain their dominance, but failed. ‘In 1969, Sears sales alone accounted for 1% of the entire U.S. economy, and two-thirds of Americans shopped there in any given quarter.’ … sound familiar? 'Sears was America's dominant retailer for decades. Here are four ways they squandered that lead.'
Comment: If you want to figure out how to make a lot of money investing or starting your own sustainable business, it pays to read and understand business strategy and technology. We've laid out a list of principles and books that we think are useful - always happy to share and continue learning.
CrowdCent Thoughts & Predictions
Revamped site, along with a new section + tracker coming next week
Look forward to more updates soon - the future is here...