There is a core need for an open, transparent, and secure financial system and that TradFi simply doesn’t provide that. Essentially, DeFi positions itself as an alternative to the banking system we currently have.One of the arguments for DeFi is that because it is a blockchain-based concept, it is outside of governmental and regulatory control. This has a strong appeal to those who are concerned about what we have learned about personal data collection by commercial entities and governments.DeFi answers the desire for data security and privacy.

Decentralized Finance (DeFi) and Traditional Finance (TradFi)

1. In DeFi the public blockchain is the source of trust, whereas in TradFi it is regulatory bodies that are the source of trust.2. DeFi is gaining traction because it is open and transparent, and there are fewer barriers to accessing it. The opposite is true of TradFi, especially in terms of the barriers to access, which leaves billions of people unbanked worldwide.3. TradFi has its hands tied by regulatory forces, which makes it extremely difficult for its institutions to act with the same agility as DeFi projects.

DeFi Vs TradFi

Unlike TradFi, DeFi projects are able to offer banking without borders. TradFi struggles with this, and as mentioned before, this has left billions globally without a banking service. DeFi’s use of blockchain technology overcomes that issue and allows people in developing countries and remote areas access to banking via their mobile phones.

Use Cases For DeFi: Banking

Oppressive governments are prone to issuing bans and restrictions on financial movement. TradFi can’t offer solutions, but again, because DeFi uses the blockchain and associated tools, it is able to circumvent government restrictions and provide uncensored global financial services.

Use Cases For DeFi: Circumventing Oppressive governments

There is a level of creativity in DeFi projects in terms of developing new features and functions. In the past TradFi had a monopoly on financial products, but even those products associated with TradFi can be moved over onto the blockchain, giving DeFi another advantage.

Creative Finance

The biggest challenge with De Fi is getting the general public to trust the idea of unregulated open-source code.Cryptocurrency doesn’t yet have mass adoption and there is widespread mistrust of it, which bleeds over into the DeFi sector by association. There are fears about hacks among other things. Indeed, the DeFi tech is still in its infancy, with much work to be done to make it more trustworthy for a wider audience beyond DeFi fans.

Challenges Faced by DeFi

Ultimately, DeFi has a way to go, but it undoubtedly has potential, and certainly as a way to give more people access to banking services. If it works hard on scalability, security, and liquidity, it has a real opportunity to replace TradFi.

The Bottom Line

You may have seen numerous articles about decentralized finance (DeFi) and its claims that it will radically change the traditional finance (TradFi) sector.

crypto

Cryptocurrency

What Makes TradFi Different From DeFi?

There are many different ways to frame the fundamental struggle of what it means to be human: trying to fulfill our potential. Science has the therapeutic model, in which some disease or condition must be cured and religion has the moral model, which says we must pay for our sins. However, there’s a third model, a much simpler one: the model of the amateur and the professional.<ul><li>You can divide your life neatly into two parts: before turning pro and after.</li><li>All you have to do to turn pro is decide.</li><li>When you turn pro, life gets easier.</li></ul>

Being Human

<ul><li>The defining trait of the amateur is the fear of being who she is and getting rejected for it.</li><li>A central obstacle for the amateur is that he always chases some guru or authority.</li><li>When you do your work for the sake of its practice and nothing else, that’s when you turn pro.</li></ul>

From Amateur To Pro: The Premise

<ul><li>Do you remember where you were on 9/11? You’ll remember where you were when you turn pro.</li><li>When we’re afraid to embrace our true calling, we pursue a shadow calling instead.</li><li>The difference between an amateur and a professional is in their habits. An amateur has amateur habits. A professional has professional habits.</li><li>Turning pro is like kicking a drug habit or stopping drinking. It’s a decision, a decision to which we must re-commit every day.</li></ul>

Growing Up

<ul><li>If you’re dissatisfied with your current life, ask yourself what your current life is a metaphor for. That metaphor will point you toward your true calling.</li><li>Becoming a pro, in the end, is nothing grander than growing up.</li><li>In the shadow life, we live in denial and we act by addiction. The shadow life is the life of the amateur.</li><li>The longer we cleave to this life, the farther we drift from our true purpose, and the harder it becomes for us to rally the courage to get back.</li></ul>

The Shadow Life Most Of Us Live Daily

Ambition, I have come to believe, is the most primal and sacred fundament of our being. To feel ambition and to act upon it is to embrace the unique calling of our souls. Not to act upon that ambition is to turn our backs on ourselves and on the reason for our existence.

The shadow career is a metaphor for our real career. Its shape is similar, its contours feel tantalizingly the same. But a shadow career entails no real risk. If we fail at a shadow career, the consequences are meaningless to us.Sometimes it’s easier to be a professional in a shadow career than it is to turn pro in our real calling.You can spend your whole life living a shadow career. But it’s turning pro in the craft of your calling that will bring you enduring fulfillment.

The Shadow Career

Every addiction shares two qualities:<ul><li>They embody repetition without progress.</li><li>They produce incapacity as a payoff.</li></ul>Amateurs are addicts; professionals are artists.Amateurs use addiction (distractions, displacement activities, drugs, etc.) to run away from their calling, which is the obligation to become our truest and highest selves.

Addicts Vs Creators

<ul><li>Amateurs are terrified</li><li>Amateurs are egoists</li><li>Amateurs live by the opinions of others</li><li>Amateurs permit fear to stop them from trying</li><li>Amateurs are easily distracted</li><li>Amateurs seek instant gratification</li><li>Amateurs are jealous</li><li>Amateurs lack compassion for themselves</li><li>Amateurs seek permission</li><li>Amateurs live for the future and live in the past</li><li>Amateurs will be ready tomorrow</li><li>Amateurs give away their power to others</li><li>Amateurs are asleep</li></ul>

Traits Of An Amateur

Turning pro is a decision. It’s a decision to pursue your calling in the face of overwhelming fear. It’s a decision to structure your life to confront that fear day after day. It’s a decision to develop the habits that your professional craft requires. It’s a decision to wake up.The pro mindset is a discipline that we use to overcome Resistance. To defeat the self-sabotaging habits of procrastination, self-doubt, susceptibility to distraction, perfectionism, and shallowness, we enlist the self-strengthening habits of order, regularity, discipline, and a constant striving after excellence.

Turning Pro

<ul><li>Patient</li><li>Seeks order</li><li>Demystifies</li><li>Acts in the face of fear</li><li>Accepts no excuses</li><li>Plays it as it lays</li><li>Does not show off</li><li>Dedicates himself to mastering technique</li><li>Does not hesitate to ask for help</li><li>Does not take failure or success personally</li><li>Does not identify with his or her instrument</li><li>Endures adversity</li><li>Self-validates</li><li>Reinvents himself</li><li>Is recognized by other professionals</li></ul>

Traits Of A Pro

A Pro:<ul><li>Is courageous</li><li>Will not be distracted: “The amateur tweets. The pro works.”</li><li>Is ruthless with himself</li><li>Has compassion for himself</li><li>Lives in the present</li><li>Defers gratification</li><li>Does not wait for inspiration</li><li>Does not give his power away to others</li><li>Helps others</li></ul>

Qualities That Indicate Pro-ness

Professionals follow a practice, which is “a rigorous, prescribed regimen with the intention of elevating the mind and the spirit to a higher level.” This is true for writers, yogis, bankers, and directors.A practice has a few elements:<ul><li>A space: a unique place to work on your craft</li><li>A time: a period where you work on your craft</li><li>An intention: To get better, go deeper, etc.</li><li>Lifelong: There is no finish line.</li></ul>

The Practice

Fear is the primary color of the amateur’s interior world. Fear of failure, fear of success, fear of looking foolish, fear of under-achieving and fear of over-achieving, fear of poverty, fear of loneliness, fear of death. Most importantly, the fear of being excluded from the tribe, i.e., the family, nation, race, religion.The amateur fears that if he turns pro and lives out his calling, he will have to live up to who he really is and what he is truly capable of. The amateur is terrified that if the tribe should discover who he really is, he will be kicked out into the cold to die

Primal Fear

<ul><li>Life gets very simple when you turn pro.</li><li>We finally listen to that still, small voice inside our heads.</li><li>Before we turn pro, our life is dominated by fear and Resistance. We live in a state of denial. We’re denying the voice in our heads. We’re denying our calling. We’re denying who we really are. We’re fleeing from our fear into an addiction or a shadow career. What changes when we turn pro is we stop fleeing.</li><li>When we turn pro, we stop running from our fears. We turn around and face them.</li></ul>

Everything Becomes Simple

The follow-up to his bestseller The War of Art, Turning Pro navigates the passage from the amateur life to a professional practice. "You don't need to take a course or buy a product. All you have to do is change your mind." --Steven Pressfield TURNING PRO IS FREE, BUT IT'S NOT EASY. When we turn pro, we give up a life that we may have become extremely comfortable with. We give up a self that we have come to identify with and to call our own. TURNING PRO IS FREE, BUT IT DEMANDS SACRIFICE. The passage from amateur to professional is often achieved via an interior odyssey whose trials are survived only at great cost, emotionally, psychologically and spiritually. We pass through a membrane when we turn pro. It's messy and it's scary. We tread in blood when we turn pro. WHAT WE GET WHEN WE TURN PRO. What we get when we turn pro is we find our power. We find our will and our voice and we find our self-respect. We become who we always were but had, until then, been afraid to embrace and live out.

Understand yourself and those around you.

psychology

Psychology

personaldevelopment

Personal Development

motivationandinspiration

Motivation & Inspiration

books

Books

The
 follow-up to his bestseller The War of Art, Turning Pro navigates the 
passage from the amateur life to a professional practice.     &quot;You don't need to take a course or buy a product. All you have to do is change your mind.&quot;  --Steven Pressfield    TURNING PRO IS FREE, BUT IT'S NOT EASY.    When
 we turn pro, we give up a life that we may have become extremely 
comfortable with. We give up a self that we have come to identify with 
and to call our own.    TURNING PRO IS FREE, BUT IT DEMANDS SACRIFICE.    The
 passage from amateur to professional is often achieved via an interior 
odyssey whose trials are survived only at great cost, emotionally, 
psychologically and spiritually. We pass through a membrane when we turn
 pro. It's messy and it's scary. We tread in blood when we turn pro.    WHAT WE GET WHEN WE TURN PRO.    What
 we get when we turn pro is we find our power. We find our will and our 
voice and we find our self-respect. We become who we always were but 
had, until then, been afraid to embrace and live out.

Steven Pressfield is an accomplished writer whose work has resonated with readers around the world. Steven Pressfield has published several books that explore a range of topics, from fiction to nonfiction, and has received critical acclaim for the ability to weave compelling narratives. Steven Pressfield's writing style is known for its depth and authenticity, and has earned quite a loyal following of readers.

Steven Pressfield

The DAO space is evolving very quickly and we see rapid changes and evolution in how we perceive DAOs and how DAOs work. DAOs used to be universally seen as groups of very forward-thinking engineers and mathematicians working on a service or protocol that would join in the decentralisation movement. DAOs were associated with early-stage DeFi projects, open-source protocols and networks. However, the ideas imposed on DAOs have begun their evolution.

The year of the Decentralized Autonomous Organization (DAO)

DeFi revolutionised how assets could be invested and spent. DAOs are revolutionising the way that knowledge, ownership, and work is distributed globally. To put it plainly, DAOs are spreading the crypto message at speed, and this powerful knowledge is changing the lives and livelihoods of many early participants. DAOs can't exist without DeFi, and DeFi needs DAOs to bring the people.

DeFi and DAOs

The DAO revolution may seem extreme, but the same was thought about electricity, automobiles and the Internet. Talk about President Biden’s Executive Order on the “Responsible Development of Digital Assets,” and Senator Elizabeth Warren’s new proposed bill, while well-intentioned on the surface, would require the invasion of privacy of US taxpayers and mandatory self-reporting, which would be hard to enforce.

Regulators have more bark than bite

Most people think the SEC would regulate blockchain. The SEC is the most influential regulatory body in the United States when it comes to crypto, but have been very quiet as it has become obvious that they can't tame this worldwide movement. SEC Commissioner Caroline Crenshaw released a statement titled <a href="https://www.sec.gov/news/statement/crenshaw-defi-20211109">“Statement on DeFi Risks, Regulations, and Opportunities”</a> on Nov. 9, 2021. Important points are:<ul><li>decentralized projects can continue as long as no existing laws are broken;</li><li>the SEC is willing to take a passive approach and allow the industry to experiment and grow.</li><li>more transparency is needed.</li></ul>

SEC's Identity crisis

Now is a good time for the community to start discussions on improving transparency and raising trust in the DAOs. We won't need regulators to set their own terms. Instead, we must be:<ul><li>taking ownership of the responsibilities,</li><li>setting open standards to bring unity in web3,</li><li>self-regulate</li></ul>

Improving the transparency in decentralised networks

We need to set some boundaries and definitions for a DAO transparency dashboard to give the DAO value. We got this far with innovation and experimentation. There could be criminal organizations that take the form of a DAO, but web2 has shown the world the power of angry communities and their ability in taking entire organizations down. The ideal outcome is to use the power of data to make it evident whether a DAO is trustworthy.

The DAO Transparency Index & Dashboard

DAOs will be defined under similar frameworks to:<ul><li>Assign a transparency index score</li><li>Show areas in which the DAO could improve</li><li>Show the areas where the DAO is excelling.</li></ul> Transparency could consist of three principles: <ul><li>Metric A: Finance (i.e., financial health, token liquidity, revenue streams and debts, etc.)</li><li>Metric B: Governance (i.e., degree of decentralization, token holder participation, consolidation of power, smart contract execution, etc.)</li><li>Metric C: Communication (i.e., financial disclosures, internal communications, social and press/media presence, etc.).</li></ul> The DAO Transparency Index is a WIP.

Proposed transparency principles

The World Wide Web Consortium, or W3C, was founded in 1994. Thirty years later, D3C is established to assist in the new era of information. Finally, the infrastructure projects of 2017-2021 are beginning to take shape and become more usable. The three D’s represent the core components that power web3 are<ul><li>Decentralized Finance</li><li>Decentralized Organizations</li><li>Decentralized Data</li></ul>

About D3 Consortium (D3C)

Measuring a Decentralized Organization's Transparency: A Proposed Framework to Develop a Flexible Standard

The DAO Transparency Index: Measuring an Organization's Transparency & Trust

Thinking for ourselves is still seen as quite a radical act. Traditionally, most of our societies have not created the conditions for us to think for ourselves. Many of us are therefore profoundly unsettled when confronted with the simple question: ‘What do you really think?’ The quality of actions depends first on the quality of the thinking behind them.

Everything We Do Depends on The Thinking We Do First

How we give others our attention, listen, and say that ‘you matter’, directly correlates to the thinking quality of the person sitting in front of us. The ‘mind that holds the problem also holds the solution’. You help cultivate this solution discovery through the quality of your attention and listening presence. Focus on setting up the conditions for the person to think for themselves; to access their own ideas and solutions.

The Quality of A Person’s Attention Determines the Quality of Other People’s Thinking

Attention, Equality, Ease, Appreciation, Encouragement, Feelings, Information, Difference, Incisive Questions, Place.These components can be used both at the organisational (‘The Thinking Organisation’) and at the individual level (‘The Thinking Partnership’). All ten are important, but even just using one component will dramatically improve the quality of someone’s thinking.

The Ten Components of ‘The Thinking Environment’

Attention, the act of listening with palatable respect and fascination, is the key to a Thinking Environment. Listening of this calibre is enzymatic. When you are listening to someone, much of the quality of what you are hearing is your effect on them.

When you interrupt or finish someone else’s sentence you are saying that either your words will be better (or that you know their words) and that they cannot finish their own sentence. Let others do and finish their own thinking, let them formulate their thoughts, let the words be their words.

Allow Others to Speak Fully

Create meeting structures where everyone has a turn to speak, knowing they will not be interrupted. In a Thinking Environment, everyone is a thinking equal, regardless of hierarchy, giving everyone a turn increases the intelligence of the group and will save time in the long run.

Take Turns

Being able to craft an incisive question can free up more thinking and thought.A few brilliant ones for leaders to ask themselves:If I were to be my real self in leadership, what would I do differently?What is limiting my leadership? If I were to assume something more liberating, what would change?As well as to ask their team:How would your work have to change for it to be exactly right for you?If you were not holding back, what would you be doing?What do we already know now that we are going to find out in a year?

Listen to Surface Any Assumptions and Ask Incisive Questions

Take time to appreciate those around you. A 5:1 appreciation to criticism ratio helps people to think for themselves. For example, at the end of meetings to take time to say one quality you respect of the person to your right (nowadays the next person on your virtual meeting screen!). Often we are quick to criticise, but actually, our thinking improves when we are in the presence of concrete appreciation.

Appreciate

Time to Think by Nancy Kline helps you build a Thinking Environment.

Most people think they listen well, but they rarely do - not at this level. Listening this way is a radical act. The power of effective listening is recognised as the essential tool of good management. In this book, Nancy Kline describes how we can achieve this, and presents a step-by-step guide that can be used in any situation. Whether you want to have more productive meetings, solve business problems, create bold strategies, or build stronger relationships, this book offers you a new world of possibilities. From blue chip companies developing high-powered teams to individuals seeking personal growth, a Thinking Environment has come to mean transformation of the highest quality.

philosophy

Philosophy

communication

Communication

Most people think they listen well, but they rarely do - not at this level. Listening this way is a radical act. The power of effective listening is recognised as the essential tool of good management. In this book, Nancy Kline describes how we can achieve this, and presents a step-by-step guide that can be used in any situation. Whether you want to have more productive meetings, solve business problems, create bold strategies, or build stronger relationships, this book offers you a new world of possibilities. From blue chip companies developing high-powered teams to individuals seeking personal growth, a Thinking Environment has come to mean transformation of the highest quality.

Nancy Kline

Time to Think

The Walking Dead has taught us that it's not easy to survive in an undead wasteland. The last couple of years has shown us that a zombie apocalypse is perhaps not that far-fetched. Real survival experts and experienced preppers can give us tips for surviving a doomsday scenario.

Learning from The Walking Dead

John Ramey, the founder of survivalist company The Prepared, doesn't recommend putting your money into a bunker. Instead, we should focus on making our existing homes and communities more resilient. Your home is your castle. It's your base for any emergency. If you had to lock yourself in your home right now, no water, no gas, no electricity or communication, how long can you live there? It should be two weeks at a minimum because that covers most emergencies like natural disasters.

Surviving an emergency

Basic supplies include food, water, health, communication, first aid supplies, hygiene supplies. You need a gallon of water per person per day and filtering products to make water safe to drink. Keep a 'bug out bag'. It is a bag of essential supplies you can grab when you need to leave the safety of your home. It should contain a lighter or waterproof matches, an emergency blanket, sleeping bag, freeze-dried food, flashlight, batteries, solar radio, water purifier, camping stove, knife, gun and medical kit. A bicycle is a classic bug-out vehicle.

Be well stocked with basic supplies

You will need first aid and a core medical understanding of cleaning and dressing a wound. For example, if Daryl from The Walking Dead gets hit in the shoulder with a crossbow bolt, how will you handle it? Outdoor survival skills are also essential. Can you read a map and start a fire? Do you know how to create a winter shelter? Do you pay attention to what's going on around you or how to diffuse tense situations?

Skills to use your supplies

At some point, you may be forced to leave the house and find shelter elsewhere. Would you know where to go? If a zombie apocalypse happens, you will need community as community wins most of the time compared to being alone. We are not machines. We get sick, we need to sleep, we can't learn every skill we'll need through every calamity. Knowing someone that can help can save the day.

We need community

How you deal with zombies depend on what kind you meet. If you get into a confrontation with a slow one, just move around them. But if you meet a fast-mover, you know there is more. So you have to turn to stealth. Move in the shadows, underground, in any way to avoid them. Make use of dogs, who can sense threats or major changes and warn you in advance. For example, something is up if they start to act strange, growl, show their teeth, or pace a lot.

How to deal with zombies

Survival experts and professional preppers give their tips on how to survive a zombie invasion.

Survival experts and professional preppers give their top tips on how to survive a zombie invasion.

movies

Movies & Shows

artsandculture

Society, Arts & Culture

How to survive a real-life Walking Dead apocalypse

Startups exist because they radically change the category. A startup can either make a better version of something or create a new way of seeing a problem. If a startup tries to make a better version, they’re playing the comparison game by the leader’s rules. A better way is to be the only one. In a world that sells bananas, you want to be the world’s first apple.  Category design is then creating a minimum viable different future that early adopters choose. By choosing that different future, they join your movement. As the movement grows, it becomes a market because it defines the category.

Startups and Category design

I’m not the best, I’m the only. You want to force a choice and not a comparison.

The printing press was a democratising technology. When the Roman Empire became corrupt, the Pope tried to establish order. But ruling institutions often become more interested in keeping their status and power than serving their real function and consequently started to fleece their people. From this came three technologies:<ol><li>The printing press allowed Martin Luther to print the Bible, and suddenly lots of people could read.</li><li>Double-entry accounting let merchants of Venice trade in a decentralised way without central authorities.</li><li>Gunpowder changed the asymmetry of power that knighthood enforced.</li></ol>

Democratising category designers

The internet is much like the printing press because anyone can circumvent the traditional media. Bitcoin is a sophisticated accounting system that enables people to bypass the fiat currency system.

Modern-day democratising category designers

When people see too many problems in a state, country, a product, and there is a denial that things need to change, they will abandon it. Exiting broken institutions will give a voice its power. <ul><li>Bitcoin is an exit voice. It said that the fed is mistreating the dollar and the only choice is to opt-out and own a different kind of currency.</li><li>The cloud culture is another. People can exit physical locations but still be part of a networked economy where it pays you but doesn’t have much of a hold on you.</li></ul>

The exit voice

The future doesn’t happen to us, it happens because of us.

Understanding how broken institutions work is merely observing a natural cycle: A centralised organisation can make decisions quickly, but with time it becomes a caricature in itself. So it will slow down, people in the centre will make all the decisions, and nobody will be able to get anything done without asking for permission.  That's when you want to be decentralised. Everyone can make things happen independently, but if that carries on for too long, there will be too many different ways to do something, and efforts will be duplicated. This is when you will move back to centralisation.

The natural cycle in history

In the 20th century, you got rich by investing in companies that were a bet against a different future. Startups used to be something similar to a hobby turned into a business, but they are going to animate breakthroughs and create a different future. They are creating new categories instead of dominating existing categories. The future will happen because of us. We can either join movements that will create breakthroughs that build a different future, or we will tear things down if we make bad choices as a society,

Startups creating a different future

<ul><li>The company can’t be compared to any other. It envisions a different future.</li><li>It post-dates the creation of the internet.</li><li>Do the people leading the institution understand software in a fundamental way and use levers to move the world?</li></ul>

How to identify and join a breakthrough movement

When people say that robots are going to eat the jobs, they reveal a particular world view where the world is centred on the industrial giant institutions, such as factories and big businesses where every person is part of the cog. But we don't live in that world anymore. Software is eliminating the need for people to work at companies. In the past, you had to work at a company because you couldn’t produce your product at scale. Now people can exit that system. They can use software to build their product and distribute it. They can be in multiple networks simultaneously.

Robots eating the jobs

In the last century, we trained children to be employees who follow the rules. They had to subordinate their own desires, ideas and creativity to the organisation's needs. In the 21st century, we need to teach children to define and shape their own destiny. We need to teach the importance of personal agency and understand that the world is working in a decentralised way. Learners should focus on their strengths, learn computer literacy, financial literacy, probabilities, and understand how to think about the odds.

How to train people for this century

Mike Maples Jr. is the co-founder of Floodgate (early investor in Twitter, Twitch, and Lyft) and the host of the Starting Greatness Podcast. In this conversation, we spoke about surviving how an entrepreneur survives near-death experiences, the balance of centralization vs. decentralization, why you should seek to join a breakthrough company, and how to manage your own psychology. Emoji to describe this episode: 🤯 Mike's Links Starting Greatness Podcast / Twitter Advice by Patrick Collison Continue the conversation with me... Twitter / Instagram / YouTube / Website

career

Career

technologyandthefuture

Technology & The Future

startup

Startups

podcasts

Podcasts

Subscribe for interviews that go inward with your favorite entrepreneurs, creators, and thinkers.  New episodes Monday, Wednesday, and Friday.  Previous guests include Previous guests include Gary Vaynerchuk, Alex Hormozi, Robert Greene, Seth Godin, Andy Frisella, Chris Williamson, Kamal Ravikant, Iman Gadzhi, Anthony Pompliano, George Heaton, Miami Mayor Francis Suarez, Miss Excel Kat Norton, Ariel Helwani, James Altucher, Sam Parr, Shaan Puri, Colin and Samir, Gay Hendricks, and 350+ incredible humans.

The Danny Miranda Podcast

#166: Mike Maples Jr. – Why The Robots Are Not Going To Eat Your Job

Why The Robots Are Not Going To Eat Your Job

This referes to the income received for performing a service. Some examples of active income are: wages, tips, salaries, commissions, and income from businesses that hae material participation.

Active Income

<ol><li>Active Income - the most common example of an active income comes in the form of paychecks from your employer </li><li>Passive Income - this type of income is received even without active participation in the business</li><li>Portofilio Income - comes in forms of investment divdends and capital gains.</li></ol>

Types of Income

Active income refers to income received from performing a service. Wages, tips, salaries, and commissions are all examples of active income.

Discover the world of business and economics.

economics

Economics

moneyandinvestments

Money & Investments

What Is Active Income?

I don’t ask you to believe anything because belief is the death of intelligence. All you need to do is look, listen with an open mind, learn and then decide for yourself. Every single one of these people, four guys and one gal, stressed the need to transcend your limiting belief systems and believe it can be done before you do anything else.

Drop All Beliefs

If you’re looking for a signals group so you can buy like a robot, you’ve already failed. Give a man a fish and he eats for a day. Then he promptly starves to death waiting for the next free fish. Teach a man to fish and he eats for a lifetime. You have to lose money, make money, lose it again.

Teach a Man to Fish

The Parabolic swing trade is when a small, virtually unknown stock or Cryptocoin takes off on a wild ride to glory. A coin that was trading at $1 a few years ago might now be trading at $100S or $1000S of dollars. Every trader who has ever cashed in big on the markets was a gun slinging speculator. Speculators make the market boom, so that it reaches an equilibrium and serves the masses later.

Crushing the Parabolic Swing Trade

The greatest trader of all time, Ed Seykota, is a man who’s returned 40% to 60% every year since the 1980’s with his own system. But when people go to hear him talk, they think he’s kind of an idiot. That’s because Buddha like gurus speak very directly and simply. You only know the trend is up when it is consistently moving up. Two points on a graph are not a trend.

The Charts You’ve Been Waiting For

You also realize that what you thought was too simple to be the truth is actually all there is to it.The truth is that which cannot be simpler.The people who achieved great success in life mastered a few fundamental and universal truths better than anyone else.

Simplicity

<ul><li>Understanding the truth will set you free.</li><li>Your beliefs are a prison system you’ve created for yourself.</li><li>The door is not locked. It never was and you can escape your limiting ideas about reality any time you want to open that door.</li><li>So do it. Open that door.</li><li>Observe. Don’t imagine. See the chart as it actually is and then you can begin to make good decisions.</li></ul>

The Truth

How about working from home in your underwear? Do you hate corporate meetings worse than the plague? Would you rather be traveling the world, having adventures and sleeping on a beach in Thailand…

How to Crush the Crypto Market, Quit Your Job, Move to Paradise and Do Whatever You Want the Rest…

When I tell someone about my experiences with poverty, I’m met with a cascade of advice on how to do better.&nbsp;Here is how it is for poor people: I moonlit as a cocktail waitress. I considered selling plasma (again), but the bus ride to the clinic was too long to fit into my days. I didn’t have a car or health care (or a stove). I picked up odd jobs on Craigslist, receiving cash under the table for nights of cocktailing or working as a cater waiter. I visited food banks. I never bought clothing. I stopped shaving to save money on razors.

People Who Have Never Lived In Poverty Should Stop Telling Poor People What To Do

Well-meaning people who have never been poor are convinced that they know what I should have done. That subtle tweaks to my budget could somehow stretch my $9.50 per hour. I should have gotten a roommate. I should have lived somewhere cheaper. I should have found a better job.

Advice Given By Ignorant Rich People

In the U.S., we have become so accepting of the fact that poverty is not a symptom of a grossly unequal economy, or the result of numerous systemic failures, or the product of years of trickle-down economics, but instead, that the only thing standing between a poor person and the life of their dreams <a href="http://everydayfeminism.com/2013/07/how-we-ignore-poverty-and-blame-poor-people/" target="_self">is their own decisions</a>, their own choices, and their own failures.

It is Unforgiving To Be Poor

Most people who live in poverty are working jobs where their income is determined by how many hours they can spend on the job, which often don’t fall within typical commuting hours, and often run well over forty hours per week.When you’re poor, your time — especially your free time — is extremely precious. And many of the prescribed tips for saving money cut into that free time, make it less enjoyable, or might even actively cost more money in the short term.

The Reality Of Poverty

The assumption that “simple advice” can dramatically change a person’s economic outlook assumes that a person’s poverty is solely the result of personal failings, rather than very real and costly systems of oppression, including legacy poverty, systemic racism, mass incarceration, punitive immigration policies, medical debt, and more.Regardless of the personal choices a family might make to save money, there are some unavoidable costs that are baked into our financial and social systems.

Being Poor Is Expensive

Banks also find ways to capitalize on people without money. <a href="http://abcnews.go.com/blogs/business/2012/09/basic-checking-account-fees-at-10-largest-banks/">Many checking accounts</a> require that a person carry a minimum balance — and fine customers for every month that they don’t meet the requirement. And that’s assuming a person even uses a bank! <a href="http://www.economist.com/news/united-states/21663262-why-low-income-americans-often-have-pay-more-its-expensive-be-poor">An estimated 8% of Americans</a> don’t use a bank, largely due to their low monthly income. As a result, they pay more money in fees at check cashing businesses or by using prepaid debit cards.

Poor People Are Penalized For Being Poor

In addition to these fees and fines, a lack of funds in-hand can also mean paying more for services and products. Whether it’s putting charges on a credit card and paying interest or buying in smaller denominations (and thus paying more per unit), there are hundreds of small ways that being cash-poor can make it harder to save.

Poor People Cannot Save Or Invest

<ol><li>When capitalism makes people stay poor, the system is not considered to be at fault. The choices of people are.</li><li>It makes people with means feel better about their means because they feel like they have wealth as a direct result of their own effort — and not systems and structures that helped them along the way; and</li><li>It makes people with means feel better about those systems, rather than being forced to confront them or work to dismantle them.</li></ol>

A Broken System

The answer, then, is not that poor people live differently, but instead, that we create a society and an economy where people who work full time can live in the community where they work.No amount of cutting back on luxury spending or driving extra hours for Uber can change the fact that there is literally<a href="http://everydayfeminism.com/2017/01/raising-min-wage-wont-tank-economy/"> nowhere in the country</a> where a minimum wage job can support a family, that good union jobs have been in decline for decades, or that housing costs have priced people out of their homes. Cutting coupons, commuting by bike, and <a href="http://everydayfeminism.com/2017/04/outdoor-recreation-isnt-free/">enjoying outdoor activities</a> can’t really fix that.

Fix The Elephant In The Room

It’s wrong  to blame someone living in poverty on their life choices, without looking at the systemic and structural oppression of poor people.

If You’ve Never Lived In Poverty, Stop Telling Poor People What To Do

I’ve been in the corporate world of finance now for more than six years. I get everyone from kids straight out of college, to older guys and girls that have been out of the workforce for ages, to people looking for a career change asking about the finance industry.I’ve found the real lessons I’ve gained from working in finance are far broader than just one industry. Finance has taught me life skills and how to deal with people. While the startup world was fun, the finance industry gave me some extra skills.

What I’ve Learned Working In Finance For Six Years

Over the years, many of my colleagues have left finance to start their own thing or join some new age fintech that apparently has all the answers — that is, until they come up against credit risk or accidentally fund terrorism through their products and services. The grass is never greener.At some point, we can’t avoid challenges or people we don’t like — they exist in all companies whether we like it or not. Learning to deal with these facts is how I’ve stayed in finance for six years and not given up on my career.

The Grass Is Never Greener

I’ve been in the corporate world of finance now for more than six years. I get everyone from kids straight out of college, to older guys and girls that have been out of the workforce for ages, to…

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