level: money comes when it's needed
Request: I have a fear of losing money and sometimes get stingy.
Business
meritocracy
"system in which economic goods and/or political power are vested in individual people on the basis of talent, effort, and achievement, rather than wealth or social class. Advancement in such a system is based on performance, as measured through examination or demonstrated achievement" -- wikipedia.
Bitcoin as an official currency
Bitcoin became legal tender in El Salvador after 7 September 2021.
Pareto principle, the 80/20 rule
States that for many outcomes, roughly 80% of consequences come from 20% of causes.... It is an adage of business management that "80% of sales come from 20% of clients" -- wikipedia.
play to win, not to lose
Priority request: Seems like a salesman who plays to not lose never makes a sale.
debt
Calibrations of debt: credit cards, home mortgages, auto loans, business loans, student loans, and the US national debt.
Alex Hormozi YouTube channel
"I talk about how to get more customers, make more per customer, and keep them coming back, and the many failures and lessons we have learned along the way to $100M+ in sales." 83 million views.
declaring bankruptcy
"Bankruptcy is a legal process that allows individuals and businesses to deal with overwhelming debt. It can involve liquidating assets to pay creditors or creating a repayment plan" -- uscourts.gov.
"The root of civilization is not government but commerce"
Request: A quote from a fellow who runs a YouTube channel called Feral Historian. It struck me as a wise philosophy, quite the opposite of Communism.
speculation (finance)
The purchase of an asset (a commodity, goods, or real estate) with the hope that it will become more valuable shortly. It can also refer to short sales in which the speculator hopes for a decline in value -- wikipedia.
Ponzi scheme
Request: A form of fraud wherein earlier “investors” are paid out with money from later “investors”, despite no actual business being conducted or value being created. This scam relies on a steady supply of new victims and money to continue.
"the customer is always right"
Request: Used a lot within sales and marketing.
the road from zero to billionaire
Request: As a life achievement.
Trump: The Art of the Deal
"his professional and personal worldview in this classic work—a firsthand account of the rise of America's foremost deal maker" -- amazon.
Thinking in Systems: A Primer, by Donella H. Meadows
Priority request. "Some of the biggest problems facing the world—war, hunger, poverty, and environmental degradation—are essentially system failures. They cannot be solved by fixing one piece in isolation from the others" -- amazon.