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Kronos and Kairos.…Walk good. 28all. Eya. *JG, PE, WC, WH* The Warm-Up: “Some things don’t need prayer, they need discipline. God already told you what to do, you’re just procrastinating.” ~Anonymous (but saw it @mattgottesman) The Core: “Action builds resilience. Inaction breeds doubt.” ~Shane Parrish “Preparation, Discipline, Patience, Decisiveness.” ~Charlie Munger “The big money is not in buying or selling, but in the waiting.” ~Charlie Munger “You can seek comfort, or you can seek achievement, but not both.” ~Shane Parrish “Smart people make you feel dumb. Very smart people make you feel smart.” ~Blas Moros “What we don’t need in the midst of struggle is shame for being human.” ~Brene Brown “The most important thing in communication is hearing what isn’t said.” ~Peter Drucker “The ability to learn is a skill. The willingness to learn is a choice.” ~Ana Lorena Fabrega “People were too scared of taking risks when you did, then feel entitled to your rewards.” ~Orange Book “If a rich man is proud of his wealth, he should not be praised until it is known how he employs it.” ~Socrates “You can’t receive new miracles with old mindsets. Make room for the new in your mind.” ~Pastor Steven Furtick “Liberate yourself from waiting for their approval. Free yourself from waiting for their apology.” ~Dr. Thema Bryant “So commodity spot prices measure the present, bond yield curves predict the future, what exactly do equities do?” ~Paul Enright “Instagram: Where average people pretend to be millionaires. Twitter: Where millionaires pretend to be average people.” ~Orange Book “One mode of failure is continually overlooking simple ideas while searching for a better way. One mode of success is continually practicing simple ideas while searching for a better way.” ~James Clear “Being calm about everything allows your mind to find solutions. Calmness is also a state of trust. Instead of overthinking and overreacting, you just surrender for that moment and allow yourself to receive guidance for what doesn’t make sense.” ~Idil Ahmed “It was incredibly difficult to grow up in the extreme minority, but it was even more difficult to stop seeing myself through the eyes of the majority. I would tell my CLA self, Steve is right, you are beautiful.” ~Lisa Opoku in Susan Thurston-Hamerski’s, Lisa Opoku leads with a love of service “The impact of $8T of Fed Balance Sheet Expansion & $5T of fiscal stimulus has been the inflation / reflation of everything: Lumber prices +370% over TTM & 12% last week / Median home list price in the US +17% YoY / Corn +48% YTD, Copper +34%, Crude +33% / US Used Car Tx +54% Yoy. 23/24 most expensive sports trading card sales all have happened since Feb ‘20 [Beeples $69mm NFT / Yeezy shoes sold for $1.8mm / ETH is +429% YTD & BTC is +88% vs. ETC 1,735%, SOL +2171% & BCH +283% / New car prices +8.5% YoY / $100bn+ of SPAC IPO’s / VC funding records]. Across 1Q earnings inflation was one of the most discussed topics. Buffet said they are seeing inflation across their businesses ‘People are raising prices to us and it’s being accepted.’ The 10 year inflation break-evens are up from 1.99% to 2.53% this year. The interplay of this + monetary policy response will be one of the biggest drivers of risk assets from crypto to public equities & ultimately trickling down to early-stage Venture over the next couple of months.” ~John Street Capital (5/10/21) Last Set: “A lot of errors happen when you try to speed up what’s naturally going to happen. The lack of patience changes the outcome.” ~Shane Parrish Food for Thought: “And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit. The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open-source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players. Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.… For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it. The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect. Understanding it now is more productive than simply being forced to deal with it later.” ~Seth Godin, Why The Blockchain Matters More Tings (Click the link to explore further): *William Heard—Heard Capital: Active Listening *All In—E32: Behind the scenes of Elon hosting SNL, CDC failures, America's real-time UBI experiment, post-COVID boom in jeopardy & more, All-In with Chamath, Jason, Sacks & Friedberg
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