The Metaverse, Luxury Strategy, Bull Case for Ethereum

May 26 2021

“I must not fear.
Fear is the mind-killer.
Fear is the little-death that brings total obliteration.
I will face my fear.
I will permit it to pass over me and through me.
And when it has gone past I will turn the inner eye to see its path.
Where the fear has gone there will be nothing. Only I will remain.”

- Paul Atreides, Dune

“Why are you unhappy?
Because 99.9 percent of everything you think, and of everything you do, is for yourself - and there isn’t one.”

- Wei Wu Wei

“Men talk of killing time, while time quietly kills them.”

- Irish actor and playwright Dion Boucicault

A. A Few Things Worth Checking Out

1. Great deep tweetstorm on the Metaverse.

2. Lael Brainard, FED Governer gave a speech on Monday titled: Private Money and Central Bank Money as Payments Go Digital: an Update on CBDCs.

This tweetstorm summarized the key ideas well, but is a little exaggerated.

3. Bernard Arnault became the richest man in the world this week, eclipsing both Jeff Bezos and Elon Musk. He built his fortune exclusively in Luxury.

One of the best books to understand Luxury and how it works, is “The Luxury Strategy” by Kapferer and Bastien. I summarized the +400 page book in a few tweets below.

4. The Inflation Narrative in a picture. We discussed this last week.

5. The different levels of “rich”. Where are you?

6. A few weeks ago I had shared Ted Seides interview with Yen Liow on “The Quest for The Right Tail”. Yen spoke to the CFA Society India on: The Ultimate Compounding Machine - Your Mind. How to Train it.

7. Eli Dourado was on the Invest Like The Best podcast. Eli is an economist and senior research fellow at the Center for Growth and Opportunity at Utah State University.

They discussed the ongoing stagnation in labor productivity, the system constraints, and some of the innovative technologies that could reverse this trend. While Eli identifies as an economist, the bulk of the discussion was around biotech innovation, alternative energy, and the space opportunity.

B. The Crypto Section

1. The Bull Case for Ethereum. Do you own some?

2. Ross Stevens of NY DIG speaking with Andrew Tsai of Chalkstream Capital Group discussing The Beauty of Bitcoin.

3. How to manipulate crypto markets by someone who has done it. Thank you Yaser.

4. Goldman Sachs published a report earlier this week titled: Crypto: A New Asset Class? It’s a good, even handed discussion.

Here are two charts I found useful to put some context to the BTC journey in just nine years:

And here’s an interesting paragraph on Ether vs Bitcoin:

"The most beautiful people we have known are those who have known defeat, known suffering, known struggle, known loss, and have found their way out of the depths. These persons have an appreciation, a sensitivity, and an understanding of life that fills them with compassion, gentleness, and a deep loving concern. Beautiful people do not just happen."

- Psychiatrist Elisabeth Kübler Ross on how beautiful people are made