# If I Were 18 Again, I’d Build This Before Buying Assets **Channel:** Money Markets & Mayhem | Mark Di Paola **Source:** https://www.youtube.com/watch?v=3wgB2iDXRAE **Transcript page:** https://www.withtranscript.ai/video/3wgB2iDXRAE ## Chapters - 0:00 — Episode Intro and Listener Feedback - 1:52 — Admitting Recent Market Mistakes - 7:50 — Bitcoin, Gold, and Market Signals - 15:34 — Portfolio Positioning and Trade Risk - 20:23 — The Cost of Ignoring Personal Brand - 29:15 — Wealth Transfer and Building Attention - 35:31 — AI, Invention, and Future Opportunity ## Transcript **[0:00]:** Foreign. **[0:04]:** Welcome back to another episode of Money Markets and Mayhem. As you can see, I am back back in Byron Bay, back on Australian shores. Still the best country in the world to live all year round in my opinion. But let's not get into that debate today because we've got heaps to cover. The first thing on the docket is going to be how I've gotten two market calls and absolutely wrong lately and what that basically means for my investments and for you guys who are following the show. **[0:34]:** Second, I'm going to explain the worst investment decision that I ever made, what it cost and what I would do different if I had my time again. And then third, I'm going to talk a little bit about the experience in Bali, meeting some of the listeners of this podcast and the unemployable podcast. It was so surreal. At times I think I just talk down the barrel, record edit, watch myself back and that no one is actually listening. But to hear you guys come up and speak about the things that you are getting value from and the things that are changing your lives and your investment journeys and the things that you would like to see moving forward on your journey absolutely blew me away and has inspired me to take the show to another level. **[1:26]:** So I'm going to, to do that. I'm going to do that. I'm still getting settled, so this one might not be at that top shelf that I'm aiming for, but I'm gonna all, I'm gonna weekly be trying to bring this, this show up to speed and I've got so many different ideas on other additional products and potentially services that I can offer you to you guys. But that'll all come, that'll all come in the future today. Let's get right into it. **[1:52]:** So recently, recently I was absolutely wrong on two. In hindsight, not very big things, but at the time calls that I thought were gonna be massive for the market. So I was wrong. And what, and what caused me to be wrong was that I tried to put a date on a long term thesis. I've got some long term macro views and theses of the way I think certain things are gonna play out. **[2:24]:** And I tried to turn those into short term calls. Probably fell into the trap of putting myself out there on a podcast and wanting to show the receipts in a week or two when I got the things right. And so if I'm gonna put myself out there wanting to show receipts when I'm right, I'm gonna show you those receipts when I got it absolutely wrong. What were the Two calls. The first one was that the Clarity act would pass soon and crypto would rip off the back of that. I basically said for those who are about waiting for the Q4 bottom, I wouldn't be feeling too comfortable because I thought the Clarity act was going to pass. It failed to advance on the 15th of September. It's something that I don't think is dead. I still think there are ways around giving Clarity to institutions, pension funds, insurance companies, et cetera in the US but at the moment, the vote failed. **[3:19]:** And so I confused something that I think will play out long term, which with trying to make a short term call, got that wrong. The second thing that I got wrong is that I said that I thought the Fed would hold in on the 16th of September and they hiked. They hiked. Now I basically thought that if the Fed was to hold that crypto, gold, silver, stocks would all rip. AI stocks would all rip off the back of that. And I thought if they hiked that we would potentially see the Benjamin Cowan thesis play out where stocks tanked, crypto tanked, and that would be the scenario where we'd possibly see a Q4 low or a low in the month of October rather than Q4. **[4:04]:** But funnily enough, even though I've gotten both of those things wrong, the markets have actually bounced following those decisions. Stock market is up. S and P is up. NASDAQ is up. The AI stocks most notably are up. **[4:20]:** And now today, bitcoin and the crypto complex, gold and silver, the basement complex, is actually moving. Now, rather than go into why I think things are moving, why I think the market has shaken off the Fed rate hikes, I'm not going to do that today because that would be opining. That would be opining. And rather than opining, I'm gonna focus on things that I think are executable for me, the trader, and potentially for those who are trading at home. So the things that I'm seeing that are executable and not are not the opinions of, and this is what I fell into the trap of before these decisions and not the opinions of the newsletter writers and the content creators that had an opinion on why something would happen. **[5:14]:** We can, we can break those down in a macro episode for, for another day. But today I'm gonna talk about the things that market signals that are allowing me to make moves and make money regardless of being right or wrong. So the first one is let's look at Bitcoin. So this is a recent. So we're filming here Friday the 18th of September. **[5:37]:** And in the last hour it you've seen bitcoin bust a move, right? You had Fed Day. So this is what's really interesting. What I bought, I bought roughly, I think it was either this candle or this candle, thinking that we were going to have a breakout into the Fed meeting because the Fed was going to hold. What actually happened was these attempts broke down and we had that big down candle where bitcoin went from 79 down to 75. **[6:13]:** I went early, I bought Ethereum and I bought Ibit Options and I bought Solana and I ended up riding 5% down, which most of it is actually recovered today, which is interesting and post the Fed meeting, but I actually bought thinking that something was going to happen. So I made an investment decision based on a short term call. Which you should never do, right? Which you should never do because if you're wrong, it goes against you. What's been really interesting is that since that bottom you've seen and especially today, you've seen the market pick up, you've seen the bounce, right? **[6:51]:** This for me, when you have the clarity act that fails and you have Fed rate hikes, both things that people in the market selling newsletters and podcasts were opining on basically saying they thought that that would be a negative to crypto and stocks. And in the face of that you're seeing strength. For me, that's a positive sign and an executable sign for me, right? That even in the face of perceived bad news the market is moving. So we assign narratives to things but in this instance the narrative hasn't been or isn't correct, right? **[7:37]:** I was wrong. But I'm still making money or I'll still make money if this bullish trends continue. Even though I wore it down those in those recent buys, I wore down 5% initially. **[7:50]:** One other chart that I think is so important at the moment, we are moving to a macro world that is being priced off gold. For the last 20 years, risk assets have been priced off the back of the 10 year yield, right? The US 10 year yield. That is the risk free rate upon which all other assets are are priced off. Warren Buffett talks about it, many macro people talk about it. Put it in your LLM of choice and find out why that is the asset class that the assets get priced off. What I'm seeing now and the macro environment that we're moving into now for the next 10 years is one where I think most things will be actually priced off the back of gold. **[8:43]:** Now, I'm not hearing many Macro pundits talk about this. People are still Talking about the 10 year as risk free rate and what assets are priced off. But why? When interest rates are going higher on the 10 year yield, which is usually a sign when that happens, when you start getting more higher interest returns on the 10 year yield, usually that affects stocks and other assets poorly because people can get a return for just sitting in buy bonds. But even in this environment of the rising 10 year yield, you're seeing other assets continue to do well. **[9:20]:** Now rather than assign a narrative, I'm just going to look at what the market is doing. But I have a theory and I'll talk about this more in coming podcasts that one of the things that is happening is gold is becoming a more important asset class to price things off the back of the you are going to be look at going to look at homes vs the price of gold S&P vs the price of gold NASDAQ vs the price of gold Bitcoin vs the price of gold Very important. Normally, normally gold doesn't like rising yields. So we could, we could see a soft patch for gold in the coming months if yields continue to rise. We could see stocks have a soft patch, we could see bitcoin have a soft patch. **[10:06]:** But initially, initially the evidence is confirming to the opposite for now, right? But one of the things that I think is a super important chart especially for bitcoin bulls is the bitcoin gold chart. This basically shows the price of gold, bitcoin versus gold. So if the chart is rising up and to the right, bitcoin is going up versus gold. If it's coming down, bitcoin is going down versus gold. So it basically is a chart that shows which one is going up quicker, which one is going up faster. At the moment, this chart here that shows bitcoin bullish tells me that there the fact and the math of this chart is that there's relative strength in bitcoin versus gold. At the moment, forget about the narratives that I signed but at the moment the market is confirming that guys that I'm often shouting out these guys from North Star bad charts do a lot of work on long term charts, right? **[11:09]:** This chart goes back to 2020 and you can see that you had bitcoin gold outperforming, bitcoins out, bitcoin outperformed and you had a period of gold outperforming and now you're having bitcoin bitcoin outperform. And above this dome, right above this dome, this resistant line, it is positive for Bitcoin, Right. **[11:32]:** What this basically shows, what it looks like at the moment is that bitcoin is bottoming. Right. The bottoming process continues. Bitcoin priced in gold just started popping out of its doom dome. Bottoming process continues for now. **[11:47]:** So at the moment, the market is confirming bullish for bitcoin. That's another piece of evidence that leads me to believe that the low is in. If that was to break back below. Right. Then you could argue that the low is not in. Right. You heard Benjamin Cowan say when I spoke to him a couple of weeks ago that he thinks gold outperforms bitcoin into the end of the year. So while this is showing relative strength and while bitcoin versus gold, and you can look it up on trading view if you want to, is showing strength, then bitcoin looks like it is bottoming well. Right. So that's one important executable signal and something that I would keep an eye on. **[12:33]:** You're also seeing gold have its little pop. Right. Still hasn't got above the trend line. Right. Not as bullish as bitcoin at the moment. **[12:42]:** Bullish. Bitcoin is a stronger trend at the moment than gold. But you're seeing silver, which is showing relative strength versus gold. Right. Which I find interesting because usually silver and bitcoin are more closely correlated than bitcoin and gold. **[13:01]:** All right, so you're seeing risk. You're seeing people start to take risk. Okay, super, super important to follow. But this is amazing because I thought if we got a rate hike, that would be bad for my portfolio that I shared with you guys a week or so ago, but it's actually proving positive for my portfolio in relation to the rate hike. One of the theories, and again, I didn't really want to go into narratives, but this is something that I sympathize with a little bit. **[13:33]:** If we had to assign a theory or a narrative thoughts on the Fed hike. Hiking with elevated levels of government debt is stimulative. Banks get paid more on their reserves and rentiers get paid more on their T bills. Right. I heard a statistic that something like 75% of treasury bonds. **[13:53]:** So that's money lent to the US government and the US government pays the return on that. Money is held in private hands rather than sovereigns. So the net effect is more consumption, especially financial assets. So those who are holding treasury bills are generally more sophisticated investors rather than mum and dad investors. And if sophisticated investors are making 5,6% on their T bills on their money, then it gives them more ability More liquidity to put money to work. Right. And so that's why you potentially seeing that even though interest rates went up, it's actually advantageous for risk takers who have got their money in T bills. I mean Warren Buffett is now in the top five. He's now in the top five T bill holders in the world and he's got something like 3 or $400 million worth of T bills. If he's getting an extra 0.25% on 3 or $400 billion worth of T bills, he, he had that Berkshire Hathaway and has the ability to put that capital to work and buy stocks. **[14:59]:** Right. Or to use it in their operating business. Right. So it makes sense, it makes sense. Even though the Fed stopped RPM purchases in mid August, if you add the banking balance sheet growth. **[15:11]:** So the total, the total of the Fed and bank's assets are growing, which creates money. So what you're, what you're potentially seeing here is instead of the Fed printing money, you're seeing the banking system not print money, but create money supply. Right. And that net effect is an increase in the quantity of money. **[15:34]:** And this is why financial assets will continue to rise. **[15:36]:** So the, the, you could, you could say that even though, even though I think interest rates need to be lower because of the long term debt issues with the US and how eventually they will need interest rates lower in order to pay off that debt, right now we can kick the can down the road and it feels like that the Fed has made a decision that they think is most going to appease the markets because they need to keep the party going. And that's what you're seeing at the moment. One last chart and I'll show you this chart because the recent crypto buy that I made was actually majority Ether, which is the Ethereum etf. So I put a big chunk into the Ethereum ETF and I put half that amount into the Solana etf and I put maybe one third of the Solana amount into IBIT options, which is the Bitcoin etf. **[16:40]:** So let's call it, I've gone, let's, let's just use easy numbers. I've gone 50k in the Ethereum ETF, I've gone 25k in the Solana ETF and I've gone 5k in iBit, the Bitcoin ETF call options for March 2027. So the majority of the money I've put to work at the moment, or my recent buys were actually in Ethereum and Solana over Bitcoin. But I'm playing Bitcoin with the options, right? They have the ability to make me as much money as the Ethereum and the Solana trades, even though it's much smaller. So you've basically got a 50k purchase of the Ethereum spot ETF, you've got a 25k purchase of the Solana spot ETF and then you got a $7,000 purchase of the Ibit. **[17:34]:** March 2027 calls, strike price is 65, right? So the Ibit, the Ibit price at the moment is around about 42 or $44 or something like that. And I've placed a bet with about 7k worth of capital, strike 65, March next year. So that basically needs a. It needs Bitcoin to rip. **[18:02]:** It needs Bitcoin to rip between now and March. Now here's the thing, here's the thing with execution, you have your 50k of capital to go into the ether spot ETF. I've got no time. Time issues. I can be right. Wrong. I've got time on my side. It can take three years, four years, five years for that to triple, double. It doesn't matter. I don't. **[18:22]:** It's. I've got time. Same with Solana. Here's the thing about the Bitcoin, the IBIT options, even though that controls roughly 200k worth of ibit options for March, I can lose all my premium because I can be right on direction. I can be right on price. **[18:42]:** But what if ibit goes from 42 to $50 between now and March? Still went up, right? Still went up 20% or whatever, or close to 20%. That would be great. That would be great for my Ether, that'd be great for my B. Sol. **[18:56]:** But those options would expire worthless, right? Because it didn't meet the strike price, the bet that I've basically created. And so that's the risk that you take with ibit. I took that risk because I thought Fed would hold. The Fed would hold and I thought crypto, gold, silver, et cetera would rip. **[19:20]:** Now, I might look to get out of that. If Bitcoin doesn't show relative strength, I might choose to get out of that at a loss. It's already down 25%. It'll probably be up a bit today on today's trading, but I might try and get out of that early because now that decision was made on a short term call. That's how you lose money right there. **[19:43]:** That's gambling. That's not investing, that's taking a Punt, that's. And that's not investing. And so I wanted to show the differentiation between taking a punt based on a short term view versus Right. Investing. Whereas the Ethereum and the Solana positions are investments. Right. I probably got my timing slightly out. I could have probably bought that, bought them 5% lower, but that's not going to be massive in the grand scheme of things. Right. So again, I hope those case studies help. All right, that's enough. In relation to Bitcoin, Ethereum, gold, crypto macro, etc. **[20:23]:** I'm going to tell you about my worst investment ever. And what made me think of this was in Bali, a young, a young guy came up to me, I don't know if I think he was about 16 and he's at this event, he's dropped out of school and his dad's super into the money markets a million podcast. And he watches the kid, watches this. Micah is his name. Micah watches every episode as well. Right. And he's out there and he's asking questions of everyone and they're really, really thoughtful questions. **[20:57]:** And I was sitting next to Micah on a bus and he says to me, if you had your time again and you were 18 and all you had was a phone, what would you do different? Or what would you do? And it made me think about some of my big losses, some of my, you know, losing a million dollars in a day trading Luna or losing $500,000 in like a couple of, in a month or so, trying to buying Meta Planet at the top. And I thought, would I do anything of those things different? It's like, no, you know what, they're the battle scars that you kind of need to learn. And then my initial response was, hey, rather than going out and trying to start a cafe, because I bought a cafe at, at 18 and tried to do it up and that was a big failure. **[21:37]:** I would probably try and get, get a job as a crew member on a yacht for some billionaire in the Mediterranean and just try and get exposure, right? And try and try and learn from proximity. So if I had my time again, I was eight. And again, that's probably what I'd do. I'd probably try and get a job as a crew member on a yacht for some billionaire and I'd see where that took me. But, but he said, no, no, come on, seriously. He's like, in my position, he goes, I'm not going to do that. You know, what would you do? What would you do for it? And I thought, huh? It made me think of what My only regret is in this career space, and my only regret, the biggest investment, the worst investment that I ever made was an investment that I didn't make. **[22:18]:** And that investment that I didn't make was building my personal brand from, you know, 2005, 7, 8, whatever, when I finished. I finished school in 2005, 2003 or something like that. I was 21 in 2005. And when traveling around the world and Instagram and Facebook and all that just started coming of prominence. And I didn't build a personal brand. I didn't build a personal brand. And looking back now, that's the biggest mistake or the biggest investment mistake that I've made, because it's the investment that I didn't make. And the reason I say that is because in the world that we are moving into, in the world that we currently in, I honestly believe it's attention can. Some like attention can be so much more powerful than assets, especially when you're 18. When you're 18, unless your parents are giving you money, you don't have much money. **[23:17]:** You have to go out there and work and trade time for that money. And so unless your parents are giving you assets, you also don't have assets. So it's very hard to compound 1,000 or $10,000 and get rich quick. **[23:32]:** Much easier. If you compound a million dollars. Right? Compound a million versus compound a thousand. At 30% a year on both, the results are going to be extremely different. So the more money that you have initially, the easier it is to compound. And so when you're younger, you don't have assets and you don't have money. You have to trade your time for money and you have to build assets. So the most important thing that I think a young person today can build is attention. It is attention. **[23:59]:** And you can do that through YouTube, you can do that through X, you can do that through Instagram. I honestly believe the most underpriced attention is this. It's YouTube. It's YouTube. Because if you have someone who's willing to watch you for half an hour or an hour on a regular basis, there is amazing ability to add value to that person and to convert that person into a client, right? Depending on the product or service that you sell after, after that, I think X is supremely underpriced. And then you've got Instagram and Facebook now is more for the boot for the boomers and the oldies, and the young people aren't really using it as much. There's also things like Twitch and the live streaming Sites which I think are excellent. That's actually something that I'm thinking about playing with more live streaming, either through a subscription or through one of those platforms and just showing people behind the curtains what's. **[24:55]:** What I actually do, how I research stocks, how I build models, how I value stocks. Just showing you the work that I'm doing in real time. And so I thought even in 2020, etc. 2021, I thought, you know what, this personal brand shit, it's like fucking overdone. It's dead. It's like, like, like it's, it's cringe. **[25:20]:** But since LLMs, since OpenAI, since ChatGPT in 2023, now looking at the way I see the world going, more and more of people doing things automated and removing people from the process and having AI do tasks for them, the more and more I think people are going to crave analog old school personal attention and people are definitely going to crave in person events and they're definitely going to crave one, OneToOne communication. So I think that the opportunity for brand and attention over assets, especially if you're young, you need people. We need to use the first 10, 15 years of our career building attention because the ability to monetize that attention later on is phenomenal. Some of the things that I've seen people do with 50,000 or 100,000 followers on Instagram and the amount of money that they've made off the back of that by monetizing the right offer or by providing the right amount of value is freaking huge. **[26:23]:** That is why I've spent at 42, not if I was 18 again at 42. I've spent the last nearly three years of my life creating content for free. Two, two, two years and nine months on unemployable and about a year on money markets and mayhem. And eventually there will be an offer, there will be something to sell. But I'm in no hurry. I'm in no hurry because right now my focus is on building attention. **[26:49]:** It's on building trust, it's on making sure that I am one of the voices that people will listen to to be able to separate the signal from the noise. And my rule for that is to be an executor and to show that execution, right? Whereas if I come to you each and every week trying to sell a product, I'm going to tailor my message to the product that I'm trying to sell. And that's why I'm spending so much time creating content without a product, because I want to focus. I want to focus on creating content for the things that I'm most interested in creating content about the things that I'm most interested in doing. **[27:32]:** And I'm most interested in making my money through honing my craft, through honing my investment, investing and trading craft. And when the opportunity comes to offer products that show my honed craft, or can package my prompts, or can package the processes that I'm building, then I'll put them out there. But I'm approach and I've fallen into the trap of, you know, thinking about something to sell and then tailing the content towards it. And I don't want to go down that path because for me, my freedom, my personal freedom and my integrity are more important than any amount of money that you could offer me. Okay. **[28:13]:** It's amazing how many people have asked recently, even on the, on the Bali trip, hey, would you just manage my money for me? But I'll never do that. I'll never do that. Because the whole reason that I'm doing what I'm doing is to be free. It's not to have a boss, right? I don't want a bunch of rich, sophisticated bosses on my case monthly or annually about the money I'm making them or not making them. I don't want to be the richest guy in the room. I want to be the one that has peace, that is living a fulfilled life and is each day waking up making the choices that make me fulfilled. So that's what I would focus on. I would focus on attention. **[28:54]:** I think it is the most undervalued and underappreciated asset that you can own. And the return on investment from having trust, integrity and attention is probably bigger than any trade, any AI trade, any crypto trade, or any debasement trade that you can make. So if you're so inclined, that's where I would start. **[29:15]:** And for those who aren't. Fair enough, fair enough. I will continue to try and bring you the best alpha and the best executable information that I possibly can on this, on this show. I was going to talk about this last point a little bit further, but I'll keep it short. I was asked to get up and speak in Bali about what I do on a daily basis. And I began that presentation. I actually thought it was going to be a Q and A with two other guys, and I thought I was just going to answer the audience questions, but I got asked to speak and answer what I do on a daily basis. **[29:51]:** And I thought the best way to kind of paint the picture for that was, was to explain two global beliefs that I have and the two global beliefs that I have at the moment that are shaping a lot of what I'm choosing to work on and how I'm choosing to make money, build freedom, etc. Are this. So the first global belief that I have relates to the fixed pie fallacy. If you watch the news, if you watch the left of center politicians, they would have you believe that, that there's a shortage, that there's scarcity, that there's not enough to go around, but that is all smokes and mirrors and bullshit because there has never ever been more money in the world than what there is today. Yes, the rich have gotten really really rich. **[30:47]:** And yes, the poor are getting, I mean the poor's conditions are also improving. The lifestyle of all western populations has improved so much. And yes, the middle class, relative to how they've had things, it's getting much harder. But there's never been more money in the system or more opportunity in the system than what there is today left. Communist type governments like Australia will have you believe that rather than continue to grow the pie, that the best way to solve the problems of wealth inequality is to shrink the size of the pie. **[31:26]:** So you and me and your neighbor next door have more equal amounts. Australia's hellbent intent on doing that has led to us becoming the worst productivity nation in the G20 over the last couple of years. And it's also led to us having the worst inflation of G20 or one of the worst inflation rates of G20 or G7. I think it's the G7 nations in the last couple of years. Why? **[31:58]:** Because instead of trying to grow that pie, instead of trying to feed small business, instead of trying to enrich investors and asset owners, we are penalizing them. And in order to make sure that people within the economy survive. And that's not a function of trickle down. Government spending has become massive. 50 cents of every dollar that people receive in this country or 50%, is it some. **[32:29]:** Something like 50% of the people in this country receive or rely upon the government for their income. Something like 22% through welfare and the other 25, 28% through government jobs. So the amount of government jobs, NDIs etc has grown and grown and grown. The issue with that, the issue with that as a stimulating force is that governments are unproductive. They're because they're not profit driven, they're vote and power driven. **[33:03]:** They don't do things as well as the private sector. They're not as profit and value driven. And so what you have is a shrinking of the pie. You have less productivity and you have more inflation. These are policies that we are seeing, we are seeing them unfold in real time. **[33:21]:** So I'm, I'm of the. That's a long way of saying I am of the belief that there's more money and opportunity in the world than that there has ever been. And you also have the biggest demographic cohort, baby boomers, that are dying out and they are going to need to either spend that money or leave that money to millennials and the younger generation. So you've got one of the biggest wealth transfers ever that is about to occur. What we should be focusing on now, what smart people are focusing on now, is how to receive a piece of that wealth transfer. **[33:59]:** That is the most important question. Not how am I going to afford my first home, how am I going to take my fair share? How am I going to get some of that wealth transfer? That's going to go to someone, right? It's going to go to the smart cookies out there that are driven and motivated. It's going to go to the young savages that are attending events. I mean, God damn you, you young guys are attending events right now. Be savage, be savage. Because we are breeding soft, soft people. We. **[34:31]:** The political correctness, the outrage over ads, the left of center thinking, the feels, the vibes, all that shit is all noise. It's all a distraction. Go out there and focus on building you and yours, right? Don't get caught in the political discourse and discussion about, about gambling ads, et cetera, and women's sports. Like, come on, guys, at the end of the day, how many of you, how many of you can actually say that you make money by defending women's sports, right? **[35:10]:** Probably a select few. For the rest of you, you're just doing what I explained earlier, trying to create attention, right? Be honest about it. It's not about morals or it's not about lifting up women. It's about the attention that you're trying to generate from the issue. **[35:26]:** Anyway, point is, forget about focusing on all that. Focus on getting your piece of the pie. **[35:31]:** And the second thing and the follow on. The other global belief that I believe, which I think is super important, is that AI, while a lot of people out there believe AI is going to be mainly used for automation, robots, LLMs, automating tasks, et cetera, the misconception, I think, is that its main use is actually going to be invention. And Micker again asked me this question, he said, what makes you believe that to be the case? And I thought, great question. Why do I believe what I believe? Is it just a feeling or have I critically thought about it? Brilliant question from a 16 year old to test an old guy like me and to see if I'm actually thinking credit critically or I'm just pointing off something that I've heard on another podcast and giving the guy vibes. And I have thought about it critically. **[36:29]:** And the reason that I think AI is predominantly going to be used for invention over automation is twofold. Two things. Two things lead me to believe that to be the case. The first is what I know to be true about humans. We are evolutionary, we are evolutionarily driven and we continue to grow. If there's mountains, we crime them. If there's bridges, we cross them. If there's frontiers, we, we sail or, or shoot rockets towards them. How many of you who have had the ability to sit on the beach and sip cocktails. I did it for the last couple of months. **[37:05]:** Would want to do it for the rest of your life? No fucking way. Right? Because we want to always be growing. So thing number one is it's in humans nature to grow, not to leave things to a robot. **[37:18]:** So if a robot creates more time for them, they're going to want to grow, they're going to want to invent. And so you will use AI to build more than you use to automate. Once you have the automated down pack, you're then going to use it to build. How do I know that's the case? Well, you only have to go as far as the people that are currently selling the AI. **[37:40]:** Look at Anthropic, look at OpenAI and watch what they're doing, not what they say. And the majority of them are using their compute now to build in house models that they are not releasing to the public. So they have models that are way more powerful than what they're releasing to the public. Why are they doing that? Well, they're doing that because they are building and they are innovating with those models. They're trying to solve cancer and biology and finance. And they're trying to solve all these things. Right? Why are they trying to solve all these things? That is a form of innovation. **[38:22]:** That is a form of innovation. They are trying to create more value, more applications, more products, services. As we create more applications, more products, more services, there are going to be more capabilities. More capabilities. You we're not. **[38:41]:** Yes, there might be a transition period where AI takes task oriented jobs, but it won't take purpose driven jobs and we're going to have so much more purpose if we have more innovations. You just think about it. We spoke about this. I spoke about this with a bunch of people at the event. If all of a sudden breakthroughs in science and, and health can take the average lifespan from 80 to 200, how would your life change? **[39:10]:** How would you do things different if you knew that you weren't going to die around 80 and that you may have a lifespan to 160? If you knew you had another 80 years, you would do so many more things different. You would take risk for so much longer. You would try and build so many more things because you know you've got a bigger Runway. That age thing is going to happen, right? We are going to expand lifespan from 80 to 90 to 100, 210, 220. The best thing you can do now is not die, right? Not dying, not get caught up in the noise. And someone said, hey, so if all of a sudden we were living to 160 or 200, do you think that your wedding vows would be till death do us part? And. **[39:55]:** And we all started laughing. But really, like think about it. Probably not, because 40 or 50 years with someone is a good run and 50% of marriages end in divorce and whatever. And it's because we grow in different direct. Sometimes it's because, you know, whatever person's an asshole, but other times we just grow in different directions. **[40:14]:** It's like maybe there is going to be a life where we're all getting married two, three, four times because their life is so long. That's not going to be so bad, right? So maybe you are having kids more. You're having more kids. Maybe, maybe. **[40:30]:** So many different things. There's so many different things. Just with the increase in lifespan that'll mean the increase in productivity, the increase in building. So I believe that AI is mainly going to lead to invention rather than automation. And that is only going to expand, expand the kind of things that you see in this universe. **[40:51]:** So that's where I'll leave it. I'm choosing, because my profession and my passion is markets and I'm choosing to use AI to innovate and invent my ability to be a one man hedge fund, to create content, to talk to you guys and to invest across all different types of asset classes. You know, you have mining hedge funds and you have AI hedge funds and they invest in their silo. The thing that they know right now you have the ability to invest across silos you have the ability to find the connection, the nexus between AI and crypto and you have the ability to invest in those nexus. So that's how I'm going to use, invent and innovate with AI. What could you do? Are you a yoga instructor? Are you a writer? Are you an event organizer? Are you a travel blogger? **[41:52]:** Are you a consultant that currently goes and has a 9 to 5? How can you invent and innovate using AI and your LLM? And how can you bring your service or your skill set, your moat, to the group of people in the world that would want it most? How can you stop trading your time, your nine to five for money? And how can you start thinking like a business owner who no longer needs to hire five, 10 or 15 people to make their business dreams a reality? **[42:28]:** You've now got the best tool that's ever been invented to innovate and to invent. So that's what I'll be focusing on. That's the reason I've created this channel and that is what I want to get clear on for myself because that's the thing that's going to give me the most joy. And that is why I think AI is going to be a positive force because it is going to allow us to focus more on our passion rather than tasks. Right? That's the distinction. If you're seeing your job or if you're seeing the workforce as a task orientated workforce, yes, all those jobs will be replaced. But now follow your passion has never been more possible and not in a woo woo way. In a way that you actually have the pragmatic ability, you actually have the tools and the resources to to turn that passion from a passion into something executable. **[43:31]:** That's it. **[43:33]:** Hope you enjoyed this episode. As always, please leave your feedback in the comments and I'll see you next week on Money Markets and Mayhem. So you've done your macro research and you've decided that you need to buy some bitcoin? Well, the next most important question is who to buy it from. The company that I use to buy my crypto assets and my bitcoin is a company called Stormrake. **[43:57]:** They are a full brokerage service located here in Australia and for our US listeners, they've also just set up an office in Houston, Texas. You want a free consultation, visit stormrake@stormrake.com MDP. Mention me or the money markets and Mayhem team and you'll also get a discount off your trading fees. Safety and peace of mind is the most important thing when buying Bitcoin. They can store your Bitcoin for you, or they can assist you with the off site storage. Call the team at Stormrake today and get started on your Bitcoin journey.