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The philosophy behind the whole thing really comes back to that be, do, have idea.

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This is where it gets to where I think that the book really does apply to people

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who are interested in becoming who they ought to be, really at whatever age you are.

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As we think about educating our kids, what I want them to do

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is have such a broad range of perspectives.

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For them to watch a documentary on a particular subject,

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and that's the mainstream narrative.

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Okay, let's come to your own conclusion.

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Do a little bit more research.

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Look at young people today and they'll think that they're really aimless

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and they're not, you know, they're lost.

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People look at them and say, they're lost.

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And they are.

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The best thing I can do is say,

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how can I just equip my kids to be prepared for anything?

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They have an understanding.

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They can connect with people of any background

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because they know enough about how the world works.

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And so getting out there and doing stuff

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is the key to critical thinking.

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It's not thinking is not the key to critical thinking.

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It's doing that's the key to critical thinking.

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hey everyone michael here with the bitcoin way podcast thank you for tuning in today on the show

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i have matt smith matt is a serial entrepreneur and author of a book called the preparation that

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he wrote with doug casey he's an austrian economist he is also a hardcore bitcoiner he is a sound money

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advocate the book is very interesting it's written for young people it's sort of a college alternative

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specifically for young men but it would apply to young women as well but stick around stay

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tuned. I am taking this to heart and is something I'm going to use to improve myself and better my

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life as well. You will love this conversation. Hey, everyone. Like I said in the intro, I have

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Matt here with me. Matt, welcome to the Bitcoin Way podcast. Thank you very much. I'm super happy

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to be here with you. Yeah, I told you offline. I'm very excited for this conversation. I think

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you have written one of the most important books. Honestly, I think of the 21st century for anyone

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certainly raising kids. But even as people begin to step back and evaluate, what do I want to do

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with my time? How do I want to improve my life, my skill set? This is like ultimate low time

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preference reading in my view. So before we start and jump into all of that, why don't you give a

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bit of a background, tell people who you are, maybe give a little bit of an intro for Doug Casey,

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how you met him and who he is, because I heard him first on Ron Paul's podcast. And I think that'll

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set the stage for everything else we're discussing. Sure. Sure. Yeah. I'm because we're going to talk

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about education a little bit. I mean, I'm a college dropout. I dropped out and what basically

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was a serial entrepreneur. I mean, it might not be as obvious right now because I'm basically a

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cattle rancher because, you know, life goes in weird directions here in Uruguay. But yeah,

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I've started a whole bunch of different businesses, virtually anything you can imagine, actually,

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probably more than, I guess if you count the cattle ranch, like 19 businesses, some successful,

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some not successful. I'd say the last sort of significant thing I did was a business called

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Royalty Exchange. It's a marketplace for music royalties. So basically artists, songwriters,

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you know, they have these, every time their music gets played on Spotify, you know, they earn a

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little bit of money and we make it so that if they're interested in selling all or a portion

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of their royalties, they can sell it directly in a public auction to investors. So they get,

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you know, they get real market value versus getting screwed over by music industry people.

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So, uh, so I've done a whole bunch of different things like that. Um, but you know, the, the,

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the most important thing to me over my adult life has been to not screw up my kids of all things.

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It really has. I, you know, it was almost, uh, I've had almost a do no harm first approach to

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kids, you know, uh, when I, you know, when they were first born, I think, oh yeah, I'm going to

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turn you into a much better version of me. And, you know, I have all these ambitions. Uh, but

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ultimately I realized, and I think they are better versions of me, but I think ultimately what I

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realized was that I should just not cause problems with them because, you know, most parents do screw

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up their kids. All parents have an effect on their children. Some of it might be positive, but

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certainly some of it's going to be negative. And so for the last, the reason I tell you this,

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because for the last year or so, or really the last two years, I've been trying to continue that

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with my son as he's been sort of launched into adulthood and entering the world in a very

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uncertain time, I think, perilous time, one might think for young people.

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I think it's much harder for him and my daughter, too, who's 18 now to enter the world than it was

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for me. I'm 50. So I think I had it a lot easier than they do, frankly. So trying to make sure

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that that happened as best as possible, my son and I did this experiment, and this goes to the

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Doug Casey part, um, that was based upon an idea that Doug had, and he, he approached me about

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writing a book with him maybe a dozen years ago that he was calling Renaissance Man. And,

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you know, he wanted me to write it with him. And he also told me he's written many books and he,

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but he, when he wanted me to write it with him, he told me how terrible writing books were. He said,

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it's a lot of brain damage. You don't make any money, but I'd like you to write this book with

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me. I wasn't interested. But when my son got to the point where I felt like he really needed

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something like that, where that kind of became clear to me, I reached out to Doug and I said,

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let's talk about this in more detail and see what we can do with it. And the biggest thing he told

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me about it was, well, if you don't know who Doug is, by the way, how do I explain Doug? Doug is a

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Renaissance man. Doug has basically been everywhere, done everything. Some people call him the

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uh, international man. Um, I mean, he, if you ever, he really is like a living embodiment of those,

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uh, that guy in those Stasekis commercials. I don't know if you remember those from your back,

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yours back at the most interesting man in the world. I mean, he's really done

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wild stuff everywhere. You know, he's 79 now, but he's a total badass. Anyway, he's, I met him

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coincidentally, you know, I was a fan of his work, but I actually met him on the streets in Buenos

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Saris in 2007, just totally accidentally, you know, but then over the years we've built a

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relationship. But yeah, he's an economist, an author, speculator. I mean, a philosopher really

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is what he really is. And so when I asked him what this book was about, what he really wanted

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to do, and he said, well, Matt, he gave me a very vague answer. He said, you know, I want the book

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to be about the three most important verbs in every language, be, do, and have. Honestly, I

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didn't know what he was talking about when he said that. So, um, but in the book we do just,

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we do, we do get into and explain what it really is all about. Yeah. So let's, uh, so let's warm

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you up to the audience a little bit. I think that's a great background, but one of the things

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that people, I think anyone listening to this will appreciate is my impression at least is you,

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you and Doug are sound money advocates. You're, you tend to lean toward the Austrian school of

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economics. Uh, a lot of no nonsense. You're not, you're not a bunch of communists, Keynesians,

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anything like that um maybe could you share sort of your maybe i guess sort of broadly your

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worldview philosophy when it comes to to that and then we'll we'll jump into the book yeah i think

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austrian economics probably pretty much sums it up better than anything i don't really like the

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label libertarian for some reason i think maybe mostly because that it's that term is discredited

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uh unfortunately but basically those are my ideas i believe in the individual i love people

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I believe in individuals. I think that the power of the individual is all that matters,

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and the rights of the individual are all that matters. I think that our system is completely

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screwed because of the money system. It's all fraud. At the end of the day, the entire system,

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I have to understand, when you take the monetary unit and you commit fraud with it, it causes

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crazy amounts of fraud all throughout the system in ways that we don't even recognize as fraud now

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because we're so accustomed to it.

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We're swimming in it.

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So yeah, I have a big problem with the money system.

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I obviously am a, well, maybe I'm not, maybe it's not obvious.

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I certainly am a big believer in gold in particular.

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I first bought my first Bitcoin probably in early 2012.

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Lost that Bitcoin, by the way.

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But I bought more in, I guess, 2015, which I also lost.

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and uh but i didn't take it seriously where i bought any real serious amount until late 2016

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when it was you know around the 700 mark but then i understood it finally and so i i bought a lot

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more of it um way more of it then in 2016 and early 2017 than i ever did before that before

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that i was just trying to understand it and you know by like 20 of course that 20 now would be

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quite a bit but you know it wasn't really it wasn't a big it wasn't a serious investment for

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me. I like it started to be in 2016. Yeah. I think, well, I think you're, I'm sure that message

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is going to resonate well with anyone listening. So let's jump into the book. So this book is,

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and I just want to say for anyone who's listening and you hear this book is like a curriculum,

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it's for young men, you know, a college alternative. I think all of that's true.

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That's how you would frame it. For me, this has been much more influential than that. I,

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I'm not only thinking about my five-year-old son, even my, my two daughters, uh, but even for myself,

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Like, you know, I'm I have time and I I want to be the interesting type of person and learn all the things that I wish I had learned in the first, you know, 22 years of my life that I simply didn't.

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I went through a very traditional education experience, you know, public school for most of my time, private school for most of high school, went on to college, did the whole thing.

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And so it wasn't until several years later, really, until I went down the Bitcoin rabbit hole that I realized how little I had actually learned and accomplished and how few skills I had actually emerged with as a result of many, many, many hundreds, thousands of hours of sitting in a classroom.

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So you wrote this book about, in particular, molding, I think, a young man, giving them an alternative, an opt-out of college.

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Can you explain what inspired, so the B2 have, what inspired sort of the approach, the narrowness that you took to this book specifically as a curriculum for people?

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Yeah, well, you have to understand the number one problem I had in my mind.

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Now, Doug wanted us to write a book.

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what I wanted to do was solve a very specific problem for my son. So in a way, this book

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literally is the book that I, uh, for a father to a son, my best effort to give him whatever

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information I thought he needed now, not all the information he'll need, but the information he

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needed at this stage in life. Um, so that, that, that's the narrow note. So it comes down to exactly

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what he should do. And my son has been a great sport about it because he's been our guinea pig

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for the last two years.

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And, you know, he didn't have the book to start off with,

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with this highly structured approach.

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You know, he started off with something way looser

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where we're kind of grasping at straws to put it together.

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So he's been a great sport about it.

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And he's really risen to the occasion in ways I didn't expect, honestly.

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It's been fantastic.

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But the philosophy behind the whole thing really comes back to that be-do-have idea.

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And this is where it gets to where I think that the book really does apply

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to people who are interested in becoming who they ought to be really at whatever age you are.

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You know, everyone in our society today, and there's partly this fiat money system as part of it,

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is everyone is only concerned with have. I mean, that's what we think about. It's our reference

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point. I'd like to have these things. I'd like to, you know, whether it be the new iPhone or,

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you know, a beautiful spouse, it's all about acquisition of stuff. And not there's anything

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wrong with it. I like stuff. I have a lot of stuff. You know, I'm not, I'm not saying there's

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anything wrong with it, but what it's not mentioned to people is that, uh, you know, that have is a

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consequence of do. I mean, you know, it is, you don't get have by, by seeking have you get have

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by doing. And the thing that's so important about that, especially for young people, and I really

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think for anybody, but for a young man, for them to understand that if they were willing to do

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things, to do a lot, to do, like to really put themselves out there and do things, then the have

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is all possible. The have can be done, but you have to do it by focusing on doing. So what we do

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is show young people, we show anyone really, there's a huge leverage point. I mean, you know,

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my son, who's 20, has unlimited amounts of energy. I do not. You know, it just changes over time.

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And so when you have that, it's your greatest asset. I mean, you have this greatest strength,

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essentially, is that you have so much energy. It can be, you can actually channel in a way that

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can give you all the have you can imagine and probably a lot more, quite frankly. So the have

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or the be, do and have. So the last one is be. And really, truly, this is the only one that

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actually matters. This is the one you're going to think about. This is if you're dissatisfied with

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your life. And I know a lot of people who have a lot of stuff who are very dissatisfied with their

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life. It's because they never resolve this be aspect. They are not the man they want to become.

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And, you know, a lot of people, you know, look at young people today and they'll think that they're really aimless and they're not, you know, they're lost.

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People look at them and say they're lost.

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And they are.

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And why is it?

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Because the reason that they're lost is because they're focused on the wrong things.

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They're not focused on trying to become the man they want to become.

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Instead, they're focusing on having things.

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And so the book is fundamentally about the question of what we try and reorient it, reorient for a person is to get them to focus on the B first of all. Like this should be your guiding star. This should be the, and for my son, I have to say, and for young men who are also following the program who I've spoken with, it's super motivating to them.

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that is very motivating for them to try and, you know, for my son, it's like the Edmund,

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Edmund Dante is in the Count of Monte Cristo was at first his original motivation. He just loved

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the character. Um, but it was, that's really motivating for him, especially when he's going

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through things that are pretty difficult because a lot of stuff in the book is, can be pretty

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challenging. Right. I think that's an interesting way of framing it. And as I think about sort of a

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microcosm in my life, the days that I go to bed feeling most fulfilled and, uh, like a day I can

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hang my hat on are never the days I got a new car. I acquired a new thing, but the days that I,

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I got up early, I read, I got my workout in, I spent time with my family. I got a lot of work

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done. Like it's all, it's all of the being and doing and be the self-improvement and like the,

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the self-actualization, maybe that feels a little cliche, but all of those things really has a lot

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less to do with that. Yeah. And the doing naturally, it's like, it's a virtuous cycle,

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right? The doing makes you be, the being helps you do, and it creates this virtual cycle and

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all of a sudden have starts to show up. So you, you talk about having a personal code in the book.

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I can't remember if that was, if it was you or Doug who wrote that chapter. So talk a little

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bit about that because it actually, I was thinking I was about to open it, get sort of an introduction

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and it was going to go into this curriculum and the curriculum is really only maybe the back half,

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back third of the book. Um, it's, it is detailed. There's a lot in there. I'm, I'm literally at

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best I can with the limited time I have, I'm going to start just kind of working my way through the

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courses. I'll eventually get to like the, the anchor, uh, courses that we'll talk about, but,

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um, talk a little bit about what you put into the front of the book, the personal code, some of the

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other things and why you spent the time you spent setting it up before you got to sort of the tactical

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elements of everything. Yeah. Well, I mean, again, thinking about it with a young person,

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they grow up and I would say probably anyone who's listening to this, if you're under 40,

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this is probably true for you too, is that, you know, you've grown up in the most scheduled,

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surveilled, tracked, planned, institutionalized way of any population in human history. I mean,

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and when the problem with that is, is that you don't really even know what you want.

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You don't really even know what's important to you, mostly because you've had to follow the rules of

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everyone else around you. I mean, just growing up, right? And now your son, your kids, they live

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under house rules, right? I mean, you create the reality for them. They haven't, they haven't

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decided yet what's important to them. And the trouble is that most people never decide what's

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important to them. They never decide what their own rules are. And so with the personal code,

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what we try and do, and I'll explain the problem with that in a second, but with the personal code,

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what we do is we ask it, we ask the person to, um, three stages to it. The first one is just

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develop a set of rules for themselves. And this is the reason this is important. I'll just explain

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now, I guess, is that, um, up until then, all the rules are created for them, uh, the, whether they

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make sense or not, they just, or they're going with the crowd. And, uh, by deciding for themselves

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some rules, they're actually establishing their self-esteem, their actual self-esteem for the

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first time, you know, place where they're deciding, no, this is who I am. These are the things that I

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do. These are the things that I will not do and deciding them for themselves. And we asked,

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so how do you come up with these rules? Well, you shouldn't rely on anyone else around you.

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You should just think to yourself, when you do something that makes you feel small or causes you

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shame, decide you're not going to do those things anymore. Now the whole world might not know you do

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them, but you do. And when you do them, they make you feel small. Like for me, it's like lying makes

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me feel terrible, makes me feel like pathetic. It really does. It makes me feel very small.

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even a white lie but it's so easy and you know just a normal convention do a white lie like you

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invited me out for dinner on friday and i didn't want to go you know i can't this friday i'm busy

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you know that a natural it so natural that little white lie but every time i do that makes me feel like crap it so much easier just to say hey man i not really up to it for the I not I it doesn sound very good for me this Friday but maybe sometime in the future you know just being honest about it makes it easy for me So for me that a rule

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That's a rule. I just don't lie. I will not lie. Even a white lie. I'll say, I don't really want

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to talk about it. I might not answer the question, but, um, you know, I, I'm just not going to lie.

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And so for, for, for when a person starts to decide those, I will not cross this line. This

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is what's important to me. And they start following it. They start to, they build a little beachhead

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of little personal identity, a place where they can stand on that is that actually where they,

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for the first time are differentiated as an individual separate from their parents' doctrine

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or the school's expectations, or what your friends are all doing and it's yours, you own it. And so

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I think that's the basis of it. It starts there. Then what we do is we expose people to the ancient

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virtues, you know, things like courage. And these are things that are not, you know, sort of a past

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file rule, past failed rule. These are things that you aspire to. These are things that you can never

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have. You can never be courageous, you know, enough. I mean, you can always be more courageous.

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So, you know, these things are aspirations. So we ask the person to go through it and pick,

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you know, half a dozen that really speak to them. And it's different for everybody. I mean,

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they don't, they aren't, they aren't universal for everybody where they really call to you.

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And we ask them to then write those down and try to emulate those, try to strive toward

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those things as much as you can.

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And then finally, we ask them to start documenting skills, like just writing it down, the things

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that you can do.

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And in the preparation, they stack up super fast.

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There's the skills stack up really fast, actually.

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And so over time, you start to like, you could see yourself, you know, where you're going,

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the direction, what matters to you.

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And I think it's a great basis to sort of engage the world with deciding in advance the man you want to become.

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And the personal code is the start to it.

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I think it's such an important thing.

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What I've learned about myself is that I'm actually very good at setting rules for myself.

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Most people just want to be completely – any libertarian, classical, liberal type of person wants self-sovereignty to do what they want.

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But I think with that responsibility – or with that becomes a lot of responsibility.

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And for me, and this is sort of an aside because it's not character based, but I have, you know, certain foods I won't eat because it's just I've just made that rule.

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And I think to have a young person, you know, a kid basically who is growing up defining what those rules are for themselves as they make a determination to your point about what just, you know, doesn't feel right to them.

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And to begin ingraining that into reminding themselves of it daily to where when they reach, you know, an age where they have to go off into the world, it's not because you've harped on the same things over and over, which I think is important as parents is to, you know, instill discipline and instill a sense of character and virtues, but for them to have made that determination themselves.

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And then as we get into now the curriculum, it, the way that they go about engaging in, you know, some very interesting, uh, some might say risky courses and ventures that they have instilled in themselves, a sense of character, a sense of courage, a sense of, um, patience, all of the things required to go do everything else that, you know, you write about in the book well and competently.

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And I think it was a great way to sort of tee anyone up who's going to be reading this and taking it seriously.

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So before we jump into the curriculum specifically, could you maybe talk a little bit about why is everyone funneled like cattle into college?

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And why is it that it doesn't work?

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It demonstrably does not work for most people who go to college, even if they are smart, get good grades, pass all the tests.

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They're coming out, in my view, completely unequipped for real life.

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They might get a job and many don't.

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But even if they do get a job, it's it's unfulfilling.

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They don't have any other skills outside of just complete, you know, being a task doer for a big company.

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what is like what led us down this path that forced you into a position where you felt like

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you needed to write this sort of content for your your kids yeah i think you know it's um

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it's just well what what really has made it so big and so dominant is just the economic

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setup of it i'm big into economics so i mean the economic drivers behind it there's so much money

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to be made there's so much money to be made and and encouraging kids to do it and bilking them for

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the rest of their lives with these student loans afterwards. So there's just a giant machine

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that has every incentive in the world to associate status with going to college and, you know,

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talk about as a, you know, the college experience. What the hell is that? I'm not really sure. I mean,

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I was there for two years. I didn't notice anything that was, I would say it was really

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great. I didn't finish. So maybe, maybe I missed it. But, but, you know, the thing is, is that

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I think there is, you know, as our economy shifted to a services-based economy, you know, then it's these then white collar essentially replaced blue collar jobs as in a services economy.

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And that ends up being training people for generalist type of paper shuffling or, you know, computers, a spreadsheet jockeying type work.

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And that's our economy has just been funneled and optimized in that direction really for the last 30 years.

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The problem is we're seeing the ends of that now. And it did, you know, it did work for a lot of people. It really did work in terms of it made them able to earn an income.

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But, you know, what we challenge in the book, I think, is this idea is that is that is that

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a worthwhile pursuit is the ability to pay to pay your rent.

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And now that's important.

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But is that what you should devote your life to a pursuit that actually makes you now able,

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hopefully, to be so you can economically support yourself?

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Now, of course, those things are important.

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Being able to economically support yourself is important.

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But like, what are the precursors of that generally?

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I mean, there's a lot of independence beyond that that occurs.

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There's a lot of skill development that occurs.

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And that's what we try and achieve with preparation.

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Again, Doug's idea of Renaissance man.

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It's, you know, we didn't name it Renaissance man, frankly, because if you ask my son what

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that is, he has no idea or had no idea.

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It didn't, it didn't make it, it didn't have any association with it.

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But essentially, in a modern terms, the way I would see is a real Renaissance man today

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would be somebody who understands how the world works across a breadth of understanding, you know,

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in the, in the real world, how things actually work, they understand it and they know how to

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successfully engage with the world to create stuff. So whether that be knowing how to build a house

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or understanding physics, you know, or, you know, uh, learning to sail, I mean, whatever, I mean,

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like, but really understanding about wide a range of things, being able to speak a foreign language,

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We like all these things, playing, playing guitar.

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I mean, all, all, all the Hawaii, the wide range of understanding so that whereas now

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when most people come out of college or when people are now trained for a job, they have

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very little understanding of reality at all.

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I mean, they're not equipped to deal with reality in any way because they don't even

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have any understanding of it.

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Yeah.

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You know how to order things on an app or you know how to, you know, maybe you know how

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to show up to an office maybe, but they don't.

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And I mean, you go to college, it's 12 credit hours is considered full time, right?

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So that doesn't really prepare you for a 40-hour job if that's what you wanted.

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Anyway, so a lot of people have like this crazy realization too late when they finish

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college, they've taken on students that the entire time everyone has looked at them and

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told them they're doing the right thing, like they're succeeding.

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And then they end up three months into their job wondering, you know, not like, understand

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With the job not being what they expected, with the hours being worse than they expected, with the life balance nowhere near what they ever imagined it would be like, not earning enough money to cover their student loans and pay their rent, and then realizing that they're stuck now.

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They're stuck.

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They're trapped in this place because now they have this obligation that they have to pay every month.

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They got to go to the work just to be able to get the money to be able to pay the student loan and the rent and hopefully have enough to eat.

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So, you know, that's this pressure, this pushing everybody on this funnel is now kind of it's hitting its ultimate decline at this stage.

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And with AI, it's just making the situation fantastically worse and way more uncertain for people who are trying to get launched in the world.

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Yeah. If I were to maybe something you're hitting on here, the breadth of skills and the breadth of knowledge, courses, books that you guys describe here. One of the things I take away from it that I would have never thought about growing up, going to school is you hear about critical thinking.

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and people say critical thinking is the most important skill and honest i'm 36 years old it

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wasn't until i went down the bitcoin rabbit hole and started to realize all the things i've been

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lied to about that i really began to appreciate what it means to think critically and so i'll give

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you a quick example you grew up in school learning about in the u.s learning about the civil war

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and you know lincoln freed the slaves and here's here's what happened in the civil war

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i'm reading a book called the problem with lincoln right now and it's a book that was

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recommended to me by the same guy who recommended I listened to Doug's podcast with Ron Paul.

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And the long story short is this book describes Lincoln as a tyrant. No slaves were freed by the

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Emancipation Proclamation. The First Amendment, habeas corpus, were suspended under his administration.

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Every other country who had slavery ended it, except Haiti, ended it peacefully. No civil war

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required. And basically you were lied to about the civil war. I told my wife, I'm reading this book

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and I'm like asking chat GPT, which has a very mainstream narrative about the world. Everything's

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very mainstream in chat GPT is confirming many of the things that this guy is saying in his book.

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And I told her, I said, look, I wasn't there. I can't know for sure what the answer was,

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what exactly happened during the civil war. I have my hunch based on, you know, new findings.

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And the fact that we were told this means that we were probably lied to because we were lied to

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about everything else. But as we think about educating our kids, what I want them to do

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is have such a broad range of perspectives for them to watch, you know, a documentary on a

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particular subject. And that's the mainstream narrative. Okay, let's find the tinfoil hat or

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the alternative perspective and come to your own conclusion, do a little bit more research. And

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like, that's the critical thinking. The problem is most people don't have like these, these nodes

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of information to pull from across a diverse range of perspectives. And what I love about your book

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and your approach to this is they get that. The amount of reading, the amount of online coursework,

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the cycles that they go through with these anchor courses, it's almost impossible for you to just

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follow the preparation all the way through and not be really good at thinking through how do I solve

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particular problem, which of these potential, you know, narratives makes the most sense.

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I just can't see that happening for anyone. So explain the structure of the cycles,

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the curriculum in general, and then we can dig into a bit more of the detail.

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Yeah. I mean, we're modeling the, assuming the typical reader would be like my son,

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who's basically choosing maybe to go to college or something else. You know, and today the only

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options someone has that's actually laid out for you clearly. You could go to trade school,

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you know, you could get a, you could become a plumber or something like that. And there's

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nothing wrong, honorable professions as far as I'm concerned, uh, and a lot more lucrative than

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a lot of the white collar jobs today. So you could do that. You could join the military. That's what

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I did. Um, well, national guard, but to pay for my college, um, you know, or go to college and

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those are it. There's nothing else that's clear and laid out. If you do any of those three things,

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most people will say, okay, you're succeeding. If you try anything other than that, anything that's

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not that, you'll look like a failure to everybody. And it's really unclear. It's an uncharted

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territory as far as what exactly to do. So what we attempted to do is lay out exactly what you

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ought to do, like a different option, something that is equivalent in terms of the basic timeframe

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that it requires of you and essentially the basic structure of college. So for that reason,

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And we broke it into four years.

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And each of those, each year has four quarters.

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We call each quarter a cycle.

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And each cycle has a theme.

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And at the base of each cycle is what we call an anchor course.

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An anchor course.

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So, you know, like for one cycle, my son did sailing.

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And which, you know, it doesn't sound that intense.

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I don't really like those myself.

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But it was pretty intense.

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the actual what you do, at least what he did, and certainly was recommended in the book,

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is he was sailing around the Falkland Islands and, you know, across the Atlantic and through

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the Strait of Magellan into Chile.

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And it was actually his first experience on a boat, to be honest.

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And it was rough.

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I mean, it was hard-ass work.

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And it was probably, it was a gigantic rite of passage for him is what it ended up being.

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He learned a lot.

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He's a competent crewman now, so he can work on a sailboat if he wants to.

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and um and and this is essentially this way how a lot of them are structured is that this

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incorrectivity is something where you learn a very discrete skill something very specific

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that also in most cases has a real economic value as well meaning you could if you wanted to

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do something with it and earn income from it not to say we're even recommending it

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but you know true useful skills should have some economic value like someone would pay for someone

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who can do those things. So the first one my son did, and the first one I actually recommend

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everyone do if you're going to do it, is the EMT, the medic cycle. And the medic cycle has an

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anchor course of getting your EMT certification. And that's legitimately valuable. You can work

383
00:32:30,877 --> 00:32:35,257
on an ambulance or something like that, of course, but you literally learn how to save a life. I mean,

384
00:32:35,257 --> 00:32:39,977
it's not just the CPR training. It's really intense. Certainly the knowledge that my son

385
00:32:39,977 --> 00:32:44,997
has after going through this far exceeds any medical knowledge and i'll tell you you feel

386
00:32:44,997 --> 00:32:51,678
better having him around like he knows what to do if there's a problem uh and uh so in addition to

387
00:32:51,678 --> 00:32:58,178
the anchor course there's there's online courses that you take you know academics and uh you know

388
00:32:58,178 --> 00:33:06,617
today you can get i mean mit course catalog is all available for free um yale's catalog is mostly

389
00:33:06,617 --> 00:33:11,877
available for free. A lot of Stanfords. I mean, most of what really anything you might want to

390
00:33:11,877 --> 00:33:18,057
know is available for free or nearly free online. And so we outline specifically what courses you

391
00:33:18,057 --> 00:33:21,497
should take. And, you know, there's a room for electives too, but we have, we have some,

392
00:33:21,697 --> 00:33:28,357
what we consider required courses in there and a free or an extra free all online. And they're good.

393
00:33:28,557 --> 00:33:32,977
They're very good. And in addition to that, there's a lot of reading. There's also, we encourage

394
00:33:32,977 --> 00:33:38,097
people to do lots of activities so you know like from i'll just talk about my son's experience so

395
00:33:38,097 --> 00:33:45,617
yeah he's he learned to play guitar he's you know learned to speak spanish um brazilian jiu-jitsu

396
00:33:45,617 --> 00:33:50,017
i mean a whole bunch of different activities we when we list a whole bunch to do but the idea is

397
00:33:50,017 --> 00:33:53,857
that you fill in some of your week with some of these other activities too just to get a sample

398
00:33:53,857 --> 00:33:59,737
just so even see what it's what's what is it like to just try these things out skydiving scuba diving

399
00:33:59,737 --> 00:34:13,418
I mean, he's done quite a bit. And so you do that. And the last part of each cycle is an accountability piece to it. Essentially, every week, you're just basically documenting what you got done that week.

400
00:34:13,418 --> 00:34:18,757
you know so you could basically show your work because this you know essentially you're driving

401
00:34:18,757 --> 00:34:25,257
the process yourself uh if you're hopefully you're lucky and you have parent parental support meaning

402
00:34:25,257 --> 00:34:29,697
encouragement and you have somebody to share this with like here's what i got done this week

403
00:34:29,697 --> 00:34:34,697
but um but it makes a gigantic difference and it builds in this i think it's super good for

404
00:34:34,697 --> 00:34:40,977
character and it builds this basic uh it builds in the basic mechanisms for success in life when

405
00:34:40,977 --> 00:34:45,457
you can hold yourself accountable to delivering results each and every week. I mean, that's the

406
00:34:45,457 --> 00:34:51,077
key to success where you just do it on your own. And that's kind of built in there. So all this in

407
00:34:51,077 --> 00:34:58,257
total, it equates to about 40 productive hours a week. Now, I've had a lot of employees in my life,

408
00:34:58,277 --> 00:35:01,817
and I can tell you that the average employee works for about 40 hours, but they're not even

409
00:35:01,817 --> 00:35:07,797
40 hours productive in a week. It's probably more like 28, 32, I think people estimate in.

410
00:35:07,797 --> 00:35:09,197
And so it's intense.

411
00:35:09,557 --> 00:35:13,518
Unlike college, where it would be 12 credit hours, you know, it's 12 hours in the classroom

412
00:35:13,518 --> 00:35:13,918
a week.

413
00:35:14,217 --> 00:35:18,877
I mean, this is 40 a week, but, you know, you count things like your gym time or, you know,

414
00:35:18,918 --> 00:35:22,677
if you have a part-time job in there, that can count your working because we encourage

415
00:35:22,677 --> 00:35:24,237
people to work through the program as well.

416
00:35:24,237 --> 00:35:30,457
And you do learn a lot of stuff, even working totally, you know, bullshit jobs.

417
00:35:30,637 --> 00:35:32,957
I mean, delivering pizzas or working at Office Depot.

418
00:35:33,137 --> 00:35:33,877
I mean, those things.

419
00:35:34,018 --> 00:35:37,398
And they can fund doing really cool shit at the same time.

420
00:35:37,797 --> 00:36:04,777
Yeah, I think that's awesome. I think I think back to my college years, my high school years, and my brother and I are a few years apart, but we're we were sort of inseparable to the extent we could be. And I told him, I said, can you imagine knowing what we know now and sort of the men we want to be if we had just not played video games, not cared about all the other bullshit that you basically experience as part of college, especially as a guy.

421
00:36:04,777 --> 00:36:18,695
I mean I sure women are wasting their time in their own ways but I can think very tangibly about things I would do differently And I been dedicating all of that time that we were just you know messing around to learning to taking courses like this

422
00:36:18,695 --> 00:36:19,695
I actually did.

423
00:36:19,835 --> 00:36:26,615
I started my working toward my becoming a private pilot and flew solo and just I was

424
00:36:26,615 --> 00:36:31,575
in school and didn't have the when I went back to school, I didn't have a place to go

425
00:36:31,575 --> 00:36:32,255
continue it.

426
00:36:32,335 --> 00:36:33,515
So it didn't work very well.

427
00:36:33,515 --> 00:36:46,435
However, what I'll say is in addition to gaining competency through these anchor courses, what I love about them is all of them are all or most of them are intense in some form or fashion.

428
00:36:46,615 --> 00:36:52,555
And if nothing else, I've been in a cockpit by myself, you know, several thousand feet above ground.

429
00:36:53,075 --> 00:36:56,635
And it instills this understanding that you can do things.

430
00:36:56,735 --> 00:36:57,775
Most people don't.

431
00:36:57,855 --> 00:36:59,775
I don't think most people think they can do things.

432
00:36:59,775 --> 00:37:06,195
and once you have an expert show you and then take let go of the reins and now it's it's on you

433
00:37:06,195 --> 00:37:10,755
you realize very quickly that people are way more competent than they they're they're more capable

434
00:37:10,755 --> 00:37:18,235
than they could ever possibly realize uh it it's like a very freeing feeling knowing that you're

435
00:37:18,235 --> 00:37:22,935
you're able to to figure things out when you've never probably given yourself that liberty yeah

436
00:37:22,935 --> 00:37:28,395
100 i totally agree a couple comments about that i think that the reason that young men in particular

437
00:37:28,395 --> 00:37:33,875
there look you know waste time this is how it feels looking back on it playing video games

438
00:37:33,875 --> 00:37:41,375
or whatever it's because there's not any there's nothing else to do i mean no there's not it's not

439
00:37:41,375 --> 00:37:47,855
obvious what else to do i mean because listen you know there are some like uh people might frown on

440
00:37:47,855 --> 00:37:52,835
the things like you know we're just watching netflix all the time or or or whatever playing

441
00:37:52,835 --> 00:37:57,535
video games but the truth is that's one of the society's approved activities nobody complains

442
00:37:57,955 --> 00:37:58,855
You know, I mean, go do it.

443
00:37:58,935 --> 00:38:00,055
I mean, your parents might complain.

444
00:38:00,215 --> 00:38:03,755
And when I hear parents complain about that to young people, I say, well, give the kids

445
00:38:03,755 --> 00:38:04,495
some better options.

446
00:38:05,315 --> 00:38:07,475
Because if they had a better option, they would do it.

447
00:38:07,595 --> 00:38:11,275
Something that's exciting that challenges them, that, you know, motivates them.

448
00:38:11,655 --> 00:38:16,835
People want to do, most people, most, I can say for young men, for sure, they want to be

449
00:38:16,835 --> 00:38:17,175
somebody.

450
00:38:17,775 --> 00:38:19,175
They want to be somebody.

451
00:38:19,455 --> 00:38:24,515
But, and they realize that to be somebody, you got to do something worthy, but nobody

452
00:38:24,515 --> 00:38:27,455
is even presenting them with anything that's worth doing.

453
00:38:27,535 --> 00:38:31,515
so what do they do? They squander their time because they don't know. They don't know.

454
00:38:32,195 --> 00:38:37,915
And so the whole point of this is we stack these cycles so that you get exposed to a whole bunch

455
00:38:37,915 --> 00:38:44,295
of stuff and you, and that, and which the part of the beauty of the program, why it works as well

456
00:38:44,295 --> 00:38:49,175
as it does is because one of the cycles, like you might be getting your, getting your pilot's

457
00:38:49,175 --> 00:38:54,835
license, for instance. And, um, I mean, that's an intense experience. I, you know, I've, I've never

458
00:38:54,835 --> 00:38:59,575
got my license actually, but I, you know, I, you know, I only flew like 15 hours and everyone did

459
00:38:59,575 --> 00:39:06,175
the solo. This was a long time ago for I had kids. And, um, it was, you know, I mean, it's an intense

460
00:39:06,175 --> 00:39:10,595
experience in and of itself now. Okay. Now take that. And then you go after the three months,

461
00:39:10,615 --> 00:39:13,495
you're done, which means you're going to find a place you can really cram it in.

462
00:39:14,395 --> 00:39:20,235
And, uh, and you're onto something totally new, totally, completely new. And whether it's the

463
00:39:20,235 --> 00:39:25,815
EMT cycle or it's the sailing cycle or, you know, these things start off in the very

464
00:39:25,815 --> 00:39:32,315
foundational or very physical and they get into the abstract over time. So there's 16 in total.

465
00:39:32,415 --> 00:39:37,795
The last four start to get pretty abstract. You know, there's investor, entrepreneur, maker,

466
00:39:38,035 --> 00:39:42,175
for instance. So these things, they get a lot, they're a lot, we don't recommend people start

467
00:39:42,175 --> 00:39:47,315
with these things, but they work better once you've built the skill set. And the way they stack

468
00:39:47,315 --> 00:39:50,795
on top of each other is pretty amazing when you see it in real life.

469
00:39:51,295 --> 00:39:54,075
And, you know, and you're learning along the way.

470
00:39:54,215 --> 00:39:56,935
Not that you can make any money really getting your private pilots,

471
00:39:57,035 --> 00:40:02,475
but it does teach you a level of seriousness, situational awareness,

472
00:40:03,335 --> 00:40:06,195
technical detail, you know, that you're just not,

473
00:40:06,275 --> 00:40:09,015
you're going to get in very other, it's rare you'll get that

474
00:40:09,015 --> 00:40:12,355
in any other form of training that's really out there.

475
00:40:12,355 --> 00:40:15,015
And by the way, you can get your pilot's license when you're 15 years old.

476
00:40:15,015 --> 00:40:20,095
like you don't it's just kind of outrageous really but uh yeah but it's but it's like it's

477
00:40:20,095 --> 00:40:25,855
like weather uh the nato phonetic alphabet communication like all of these things that

478
00:40:25,855 --> 00:40:30,495
like are just little skills it's sort of like sailing i'm sure your son learned how to tie knots

479
00:40:30,495 --> 00:40:35,615
oh yeah and it's like okay it's just it's like that little stuff that you can then use in other

480
00:40:35,615 --> 00:40:41,275
applications in life and you know i remember i mean this is more personal but i remember when i

481
00:40:41,275 --> 00:40:46,615
was 18, all you want to do is impress a girl. And I think about if my son could grow up knowing these

482
00:40:46,615 --> 00:40:51,635
things and I just, you know, it's just sort of natural. Like he's going to be an impressive

483
00:40:51,635 --> 00:40:57,775
person worthy of someone who is equally impressive. And, uh, it's, it's just a matter of like stacking

484
00:40:57,775 --> 00:41:03,955
skills, having experiences, uh, and staying humble throughout. Uh, you know, knowing that

485
00:41:03,955 --> 00:41:08,695
the great thing about these experiences is that they humble you every time. So every three months

486
00:41:08,695 --> 00:41:12,955
you get humbled now you build yourself up but you're you know you because you start off as an

487
00:41:12,955 --> 00:41:16,915
idiot you know nothing you know you're showing up and you have to you have to go through that

488
00:41:16,915 --> 00:41:25,455
you know newbie process over and over again and it really um it forces you to uh to realize how

489
00:41:25,455 --> 00:41:31,195
little you know uh even as you start to learn so much more about reality especially like the

490
00:41:31,195 --> 00:41:37,675
fighting you know isn't my thai in thailand one of the uh one of the anchor courses it is that's uh

491
00:41:37,675 --> 00:41:41,115
So, so Max's last cycle was the entrepreneurship cycle.

492
00:41:41,435 --> 00:41:47,495
Um, he finished that at the end of the year and he's right now in Japan on his way to

493
00:41:47,495 --> 00:41:51,755
Thailand and he is going to spend two months in Chiang Mai at a Muay Thai camp.

494
00:41:52,455 --> 00:41:52,935
Okay.

495
00:41:53,155 --> 00:41:58,175
Is he, does he, is he a fighting experience or is this like, uh, he's got BJJ experience.

496
00:41:58,175 --> 00:42:04,355
He's got a little bit of, uh, like kickboxing, uh, striking experience, but no, this will

497
00:42:04,355 --> 00:42:06,395
be, this is, he's never had anything this intense.

498
00:42:06,395 --> 00:42:11,895
I mean, this is like, uh, you know, you have two training sessions a day and, you know,

499
00:42:11,915 --> 00:42:12,395
it's intense.

500
00:42:12,555 --> 00:42:13,655
It's a, it's a camp.

501
00:42:13,955 --> 00:42:14,115
Yeah.

502
00:42:14,755 --> 00:42:15,455
So cool.

503
00:42:15,995 --> 00:42:20,875
So explain how the, so you've got the anchor course that's for everyone who's, you know,

504
00:42:21,035 --> 00:42:21,995
trying to keep everyone up.

505
00:42:22,055 --> 00:42:27,075
So that's the, the fighting, the EMT, the flying, sailing, and then you have all of

506
00:42:27,075 --> 00:42:30,295
these other courses that you recommend, uh, books.

507
00:42:30,755 --> 00:42:34,675
Talk to me a little bit about the courses, because I know to the, it it's, it's not all

508
00:42:34,675 --> 00:42:39,675
a perfect one-to-one, but to the extent that you've been able, those courses generally coincide

509
00:42:39,675 --> 00:42:45,555
to some degree with that theme of the cycle. Yeah, this is one of the problems with normal

510
00:42:45,555 --> 00:42:52,155
school is that you wonder why you don't, I mean, I always felt like, one, what's the point of the

511
00:42:52,155 --> 00:42:57,395
stuff they're teaching me? Like, I didn't understand what the use of it would be. And,

512
00:42:57,455 --> 00:43:02,175
you know, and second of all, it's all so disconnected from each other that you don't

513
00:43:02,175 --> 00:43:06,195
get the advantages of making any connections because when you're learning, you know, when

514
00:43:06,195 --> 00:43:11,075
you're really learning something, you start to put together like this sort of web of understanding,

515
00:43:11,595 --> 00:43:13,415
you know, and it makes it easier to remember.

516
00:43:13,415 --> 00:43:19,615
It makes it things you will, you, uh, you, you discover knowledge basically in the information

517
00:43:19,615 --> 00:43:21,035
as it, as it ties together.

518
00:43:21,035 --> 00:43:25,635
So as much as possible, we try and keep the academics and the reading is associated as

519
00:43:25,635 --> 00:43:30,075
much associated with the theme of the cycle as anything could be like the, you know, we

520
00:43:30,075 --> 00:43:35,095
have a cowboy cycle or you know for this one for my son he will uh i apprenticed him to our gaucho

521
00:43:35,095 --> 00:43:41,135
actually uh which is like an uruguayan cowboy um but you know there's a couple schools we recommend

522
00:43:41,135 --> 00:43:46,615
that people go to in the u.s and so like the reading that goes wrong with it it's like the

523
00:43:46,615 --> 00:43:50,475
history of the american west you know you're learning about that uh like some of the leisure

524
00:43:50,475 --> 00:43:56,955
reading is these i don't know if you've ever read any louis lemore but he's like this pulp um western

525
00:43:56,955 --> 00:44:03,115
fiction books and they're great actually great for in terms of character because they the you

526
00:44:03,115 --> 00:44:07,955
know the the hero in it is always it's just a normal guy in the western right who's just

527
00:44:07,955 --> 00:44:13,555
that character makes the right decision does the hard thing all that so you get to see examples

528
00:44:13,555 --> 00:44:19,895
because one we don't have many i think this is intentional there's very few good male or female

529
00:44:19,895 --> 00:44:25,655
for that matter role models for young people like who do they who should they aspire to be is it the

530
00:44:25,655 --> 00:44:35,935
The only examples out there are people who have stuff, have money, you know, maybe an Andrew Tate, who's, you know, not of great character, but he's got money and girls.

531
00:44:36,135 --> 00:44:38,815
So, you know, and he says stuff that's true.

532
00:44:38,895 --> 00:44:40,195
So, like, that's what they've got.

533
00:44:41,355 --> 00:44:43,255
Yeah, it's it's a tragedy.

534
00:44:43,435 --> 00:44:44,215
I think about that.

535
00:44:44,295 --> 00:44:51,915
My wife actually told me she she said, you have no idea how proud I am and how proud you should be that our seven year old daughter does not know who Taylor Swift is.

536
00:44:52,195 --> 00:44:55,635
I said, I said, thank you.

537
00:44:55,655 --> 00:44:59,095
because I don't want to listen to that music as we drive around anyway,

538
00:44:59,255 --> 00:45:02,855
much less do I want my daughter thinking that that's someone that they need to look up to.

539
00:45:03,955 --> 00:45:12,595
The books, so my sense, I sort of flip through the books because there's a lot of content for everyone listening.

540
00:45:12,595 --> 00:45:14,735
If you're going to go look at this, there really is a lot.

541
00:45:15,435 --> 00:45:22,315
The books also tend to align with the cycles, but part of it is, I've got the book here,

542
00:45:22,315 --> 00:45:25,595
Is it recommended reading at the end where it's a lot of the classics,

543
00:45:25,795 --> 00:45:27,235
they're Austrian economic books.

544
00:45:27,395 --> 00:45:30,115
What was sort of the design of that?

545
00:45:30,175 --> 00:45:32,215
And is that just supplemental to it all?

546
00:45:32,975 --> 00:45:37,155
Some of it goes into the curriculum specifically, but some of it's external.

547
00:45:37,895 --> 00:45:40,115
Well, what we have is we have just like with the courses,

548
00:45:40,115 --> 00:45:43,515
we've got like a kind of a course catalog for these online courses.

549
00:45:44,075 --> 00:45:47,955
And we've, in some cases, we've put them in to the cycle and say,

550
00:45:48,035 --> 00:45:49,455
this is like required,

551
00:45:49,455 --> 00:45:54,275
but there's hours left over to get your total of you know what you're trying to get for the for the

552
00:45:54,275 --> 00:45:59,435
cycle there's hours where you can fill in other ones whatever's of interest to you and it's the

553
00:45:59,435 --> 00:46:03,795
same is true for books so there's some books where you go no no you really should read this one and

554
00:46:03,795 --> 00:46:09,855
you know uh we wouldn't give you a history book that told you the the fake narrative of the civil

555
00:46:09,855 --> 00:46:15,635
war by the way you would you wouldn't you would know it wasn't about freeing the slaves um but uh

556
00:46:15,635 --> 00:46:20,675
But there's some specific ones we might recommend, but for the most part, you know, so you want to get that foundation.

557
00:46:20,815 --> 00:46:26,875
You should be exposed to these things, but you would become a good reader in doing this because there is a lot of reading.

558
00:46:27,295 --> 00:46:30,555
I think Max read 56 books last year.

559
00:46:31,035 --> 00:46:31,395
Wow.

560
00:46:31,415 --> 00:46:34,175
You know, which sounds like a lot, but just a little bit every day.

561
00:46:34,215 --> 00:46:36,095
You'd be surprised, you know, you go through it pretty quickly.

562
00:46:36,815 --> 00:46:40,875
And, you know, what you want a lot of reading, you want it to be people following their curiosity.

563
00:46:40,875 --> 00:46:46,075
so you know we have some required and then there's electives and we give you some options if you don't

564
00:46:46,075 --> 00:46:52,115
know what might be worth reading here are some things that we can recommend okay so who who is

565
00:46:52,115 --> 00:46:57,635
uh the proponent of putting classical music in this was an interesting one for me okay doug he's

566
00:46:57,635 --> 00:47:03,035
a big classical music guy oh he painstakingly put together that list actually i mean every

567
00:47:03,035 --> 00:47:11,935
every every concerto on there like is a hundred percent dug okay okay to me though it's interesting

568
00:47:11,935 --> 00:47:18,135
though because i've never studied classical music at all like and i've never listened to it i imagine

569
00:47:18,135 --> 00:47:23,395
it's something if you can dig in and begin to appreciate exactly like i'll tell you the one

570
00:47:23,395 --> 00:47:28,355
time i've appreciated classical music was my wife and i did a trip to europe we went to salzburg

571
00:47:28,355 --> 00:47:36,635
austria and we ended up at the salzburg fortress watching a mozart you know themed can't get better

572
00:47:36,635 --> 00:47:43,815
than that yeah it was unbelievable and you realize the like the technical ability required to play

573
00:47:43,815 --> 00:47:50,875
that today much less to compose that you know hundreds of years ago and uh and people are still

574
00:47:50,875 --> 00:47:56,315
listening to it and appreciating it for what it is you know so so many years later um but i think

575
00:47:56,315 --> 00:48:02,635
it's one of those things it just like it adds a new dimension of of interest about you is a part

576
00:48:02,635 --> 00:48:08,935
it's just like there shouldn't be things that are that are just off limits to you um and i

577
00:48:08,935 --> 00:48:14,915
art is a hard thing because uh the truth is is that all art requires appreciation to appreciate

578
00:48:14,915 --> 00:48:18,495
it it really does i mean it requires the more you and this is true about it i think everything in

579
00:48:18,495 --> 00:48:24,415
life the more you know about it the more interesting it becomes you know is the more you know like you

580
00:48:24,415 --> 00:48:30,115
can go down crazy rabbit holes of of weird you know interest and it's just in random stuff that

581
00:48:30,115 --> 00:48:37,395
people that feels very like very much like a niche but uh but as you get to know more you find you

582
00:48:37,395 --> 00:48:42,815
get really really into it and and so what Doug thinks it's I grew up actually listening to

583
00:48:42,815 --> 00:48:47,435
classical music all the time but uh that's I was the weird guy who only listened to classical music

584
00:48:47,435 --> 00:48:55,215
in high school yeah um i don't know why uh but i did and i think and i like now just have his

585
00:48:55,215 --> 00:49:01,515
background music you know uh but i think that his idea is that this this is a form of high art

586
00:49:01,515 --> 00:49:06,795
high culture and that you should be exposed to it at least not to say you could be like hey you know

587
00:49:06,795 --> 00:49:10,615
not my thing that's totally fine it doesn't really matter but you should be exposed to it

588
00:49:10,615 --> 00:49:16,215
and there's a there's like just like there's art appreciation uh courses in here to teach you about

589
00:49:16,215 --> 00:49:21,395
about the visual arts well i mean because again this is something a renaissance man would know

590
00:49:21,395 --> 00:49:25,375
something about these things not to say they'd be an expert but they'd know something about it

591
00:49:25,375 --> 00:49:32,675
and uh you know so but yeah that list is his he was i think you're i think you're hitting on it is

592
00:49:32,675 --> 00:49:38,655
it's and especially in a world where we're we're moving into a world of ai whether people like it

593
00:49:38,655 --> 00:49:43,715
or not and it is like as i think about that it is completely unclear to me precisely what skill

594
00:49:43,715 --> 00:49:48,755
sets, I need to, you know, 15 years ago, I would have said, I'm going to my kids need to learn how

595
00:49:48,755 --> 00:49:54,135
to code, you know, they need to have pretty strong technical skills. And now that's not going to be

596
00:49:54,135 --> 00:49:59,255
very helpful. I mean, you're going to have 1% of the best in the world are going to continue to

597
00:49:59,255 --> 00:50:05,335
operate in some capacity doing that or controlling the machines maybe, but that those things are going

598
00:50:05,335 --> 00:50:11,375
away. And so in light of that uncertainty, the best thing I can do is say, how can I just equip

599
00:50:11,375 --> 00:50:16,715
my kids to be prepared for anything. They just, they have an understanding. They can connect with

600
00:50:16,715 --> 00:50:20,255
people of any background because they know enough about how the world works,

601
00:50:20,775 --> 00:50:27,095
art, music, they can do things. And I think that's going to set them up for the financial

602
00:50:27,095 --> 00:50:32,115
success that you described as not necessarily being the preeminent driver behind all of this,

603
00:50:32,175 --> 00:50:37,775
but obviously a practically, you know, very important function of, you know, becoming a

604
00:50:37,775 --> 00:50:39,935
You got to pay the rent one way or another.

605
00:50:40,155 --> 00:50:43,495
But I'll tell you, the way these things roll into it, I cannot creating.

606
00:50:44,275 --> 00:50:47,155
I mean, the way you get or you have is by doing.

607
00:50:47,495 --> 00:50:53,595
But in doing things that are valuable to others is how you start to, you know, really can take off for you financially.

608
00:50:54,755 --> 00:50:58,295
And the best position to be in for that is being an entrepreneur.

609
00:50:58,535 --> 00:51:05,235
And of course, you know, if I had, I would encourage everyone to be an entrepreneur, but everybody.

610
00:51:05,235 --> 00:51:19,775
But I think that most people are not equipped to do it because they just don't, they have, they don't have enough understanding of how anything works, you know, to do it. And really being an entrepreneur is being able to make connections and things and understand how you can create value in a space.

611
00:51:19,775 --> 00:51:24,935
but the way these things compound in the preparation so you know my son got the emt thing

612
00:51:24,935 --> 00:51:32,075
and then uh he got offered a job by and people this is another thing people are very surprised

613
00:51:32,075 --> 00:51:36,335
once you start doing stuff and you put yourself out there kind of publicly where he was just

614
00:51:36,335 --> 00:51:40,635
you know writing down what he did that week you start to get people that show up out of the

615
00:51:40,635 --> 00:51:45,315
woodwork like that encourage you i want you to be successful and if they can help and it makes sense

616
00:51:45,315 --> 00:51:53,555
they offer it. And so he had a guy who basically owns a contract wildfire EMS company. And they

617
00:51:53,555 --> 00:51:59,135
basically, where they contract with the government to offer, you know, EMS services on wildfires.

618
00:51:59,535 --> 00:52:05,595
And so my son did that for a summer. And by the way, one of the cycles is a work cycle.

619
00:52:05,955 --> 00:52:10,375
So we're like, hey, you know, use a cycle to do something now, you know, to go make some money,

620
00:52:10,475 --> 00:52:14,335
focus on making money, but still do some other things. But, you know, your focus primary,

621
00:52:14,335 --> 00:52:19,435
your anchor activity is making money and so he did that for working on wildfires and he as a emt

622
00:52:19,435 --> 00:52:25,695
doing that he made six hundred dollars a day which you know i find still extraordinary that seems like

623
00:52:25,695 --> 00:52:30,995
i mean i think my take-home pay i know you know inflation all that but i think my take-home pay

624
00:52:30,995 --> 00:52:37,715
from the army was probably close to six hundred dollars a month right you know i mean so six

625
00:52:37,715 --> 00:52:40,535
hundred dollars a day and then you i mean you're you're out in the middle of nowhere you have no

626
00:52:40,535 --> 00:52:45,775
expenses all the expenses are taken care of but you know so that so it can you so you want to

627
00:52:45,775 --> 00:52:51,275
compound things so parlay it into stuff and um you know and i think when you stack up these different

628
00:52:51,275 --> 00:52:55,215
skills they start to work in really interesting ways i mean one of the one of the cycles is a

629
00:52:55,215 --> 00:53:00,935
hacker cycle so you're talking about ai i agree you should knowing to code obviously that's not

630
00:53:00,935 --> 00:53:05,615
going to be the thing but you should know how to build things in the virtual sphere too because

631
00:53:05,615 --> 00:53:10,815
just like you one of the cycles is you go to the shelter institute in maine and in three weeks you

632
00:53:10,815 --> 00:53:16,835
design and build a house like uh that's a useful skill so you just basically you're one after

633
00:53:16,835 --> 00:53:22,335
another you're just removing these things that are otherwise totally un not understandable to you

634
00:53:22,335 --> 00:53:26,855
like what exactly does it mean where do you even begin if you want to design a house you know how

635
00:53:26,855 --> 00:53:32,055
how does the plumbing work you know you have no idea where to begin so these things like if i want

636
00:53:32,055 --> 00:53:37,335
to build a website how do i do that um you know these things shouldn't be inaccessible to you

637
00:53:37,335 --> 00:53:43,955
and the book basically strips those away one by one so they're not yeah the other benefit is it's

638
00:53:43,955 --> 00:53:48,735
sort of a point we've raised but with something like my kids are going to learn to code we have

639
00:53:48,735 --> 00:53:53,555
a place nearby actually that will teach them you know basics of coding i don't think any of them

640
00:53:53,555 --> 00:53:57,975
are going to be developers because i think that job is effectively going away certainly by the time

641
00:53:57,975 --> 00:54:03,855
they're going to be of age to, to be, you know, building anything. However, it helps, it will help

642
00:54:03,855 --> 00:54:08,395
them understand how these things work, which I think is just useful. It will help them understand

643
00:54:08,395 --> 00:54:12,755
problem solving, more critical thinking skills. Like it'll begin to, there are all of these

644
00:54:12,755 --> 00:54:29,032
positive externalities to just doing things that extend way beyond the thing that you doing Right And that what many people miss And even even something like you talked about taking on menial jobs I wish I had I had a couple of summers painting fences out in the heat It was like it was

645
00:54:29,032 --> 00:54:32,692
miserable. It was hard. But of course, looking back, I'm like, those were some of the best.

646
00:54:33,072 --> 00:54:38,092
You just smiled when you said it. Isn't that funny? Yeah. Like I, I, I learned how to, how to do a

647
00:54:38,092 --> 00:54:42,772
thing. I learned the value of hard work. I spent time with my friends who were, you know, who were

648
00:54:42,772 --> 00:54:48,032
pitching in and helping. And, um, gosh, I mean, you learn how to show up on time. You learn how

649
00:54:48,032 --> 00:54:51,632
to take, you know, take orders, do a particular thing. He learned that you should never eat the

650
00:54:51,632 --> 00:54:56,012
food at a fast food restaurant. A lot, a lot of, a lot of beneficial things you can take away from

651
00:54:56,012 --> 00:55:03,372
even the dumbest sounding, you know, role. And, uh, I think most people just take that for granted.

652
00:55:03,372 --> 00:55:09,392
I wish I hadn't when I was that age. And I hope to impart that, you know, sentiment on my kids as

653
00:55:09,392 --> 00:55:12,992
they get older and they think about how am I going to, you know, afford to get a car and how

654
00:55:12,992 --> 00:55:18,012
am I going to afford to put gas in it? And, uh, you just got, you just do things, you know,

655
00:55:18,032 --> 00:55:23,152
it's not always going to be fun. There's always a takeaway. Well, the thing is you say not fun,

656
00:55:23,152 --> 00:55:29,812
but, but the, just like you smiled when you're like, you know, remembering the suck of painting

657
00:55:29,812 --> 00:55:37,392
fences in the heat. The truth is, is that all of your memories are like that. All of the suck parts

658
00:55:37,392 --> 00:55:42,332
are basically the part you know the parts that you look back with fondness on you're like tell

659
00:55:42,332 --> 00:55:46,152
like when you think about playing video games you just think oh i play video games there's literally

660
00:55:46,152 --> 00:55:50,912
you know there's not there might have been a moment i don't know uh you know playing video

661
00:55:50,912 --> 00:55:56,252
games where you like really remember maybe but like but probably not by comparison to anything

662
00:55:56,252 --> 00:56:01,292
that you do that really actually just if it sucks i mean max and i talk about this all the time like

663
00:56:01,292 --> 00:56:05,612
the suck is where it's at like that's what you love later that's the thing you look back and go

664
00:56:05,612 --> 00:56:09,992
I did something, you know, and those things do add up.

665
00:56:10,052 --> 00:56:12,572
And when you talk about getting out there and doing it, I think you're right.

666
00:56:12,632 --> 00:56:14,052
And you brought up critical thinking.

667
00:56:14,492 --> 00:56:20,992
And the reason why people are such bad critical thinkers now is because they don't do anything

668
00:56:20,992 --> 00:56:22,172
in the real world.

669
00:56:22,272 --> 00:56:26,612
So they don't get feedback that, you know, just like you're talking about with writing

670
00:56:26,612 --> 00:56:26,892
code.

671
00:56:27,032 --> 00:56:29,592
So if I'm writing Python script, it doesn't work.

672
00:56:30,332 --> 00:56:35,172
Now, you know, I said, you know, it forces me to go and think deeply about what I did

673
00:56:35,172 --> 00:56:43,112
and trying to understand the problem so I can fix my error. If I'm working on a house or a remodel

674
00:56:43,112 --> 00:56:48,172
job or something like that, same thing. I get immediate feedback. I tried to do something. It

675
00:56:48,172 --> 00:56:53,532
didn't work. What did I do wrong? How do I fix it? And so getting out there and doing stuff is the

676
00:56:53,532 --> 00:56:57,732
key to critical thinking. It's not thinking is not the key to critical thinking. It's doing that's

677
00:56:57,732 --> 00:57:04,792
the key to critical thinking. Yes. Yes, I agree. I think the other trap we fall into is sort of an

678
00:57:04,792 --> 00:57:10,332
aside i have a friend who i was talking about like everything the charlie kirk situation everything

679
00:57:10,332 --> 00:57:16,472
going on and they're a huge candace owens fan love tucker carlson like those are sure their go-to

680
00:57:16,472 --> 00:57:23,212
and i'm like i think some of the things they say i probably agree with i think um there's a case to

681
00:57:23,212 --> 00:57:27,372
be made by a number of people about different things and they were like yeah but like why

682
00:57:27,372 --> 00:57:31,192
why because i was like what if they're controlled opposition hypothetically i don't know but like

683
00:57:31,192 --> 00:57:35,492
what, what if, and they're like, well, they don't seem to be, cause here's why I was like, listen,

684
00:57:35,592 --> 00:57:39,692
here's the problem. This is why people aren't thinking critically anymore is they're finding

685
00:57:39,692 --> 00:57:47,052
one or two people who they basically night as a saint. And they say, that's my, that person is

686
00:57:47,052 --> 00:57:51,412
going to do the work for me. And I trust them. I like a couple of things they say. So anything

687
00:57:51,412 --> 00:57:58,452
moving forward, I just trust. I said, for me, Candace, Tucker, Joe Rogan, uh, Bill Maher,

688
00:57:58,452 --> 00:58:04,972
anyone, they're a node in my network of, of information and they're all far enough out

689
00:58:04,972 --> 00:58:09,912
there that I assume probably they're wrong about something. But if I pull all this information

690
00:58:09,912 --> 00:58:14,092
together, I look at what independent journalists are saying. I read what normal people are just

691
00:58:14,092 --> 00:58:17,792
sort of how they're processing this information. Well, now I can begin to make a more informed

692
00:58:17,792 --> 00:58:22,052
decision. But as long as you worship the Republican party, you worship the Democrat

693
00:58:22,052 --> 00:58:27,352
party, you worship Candace, you worship Bill Maher, you worship anyone. You're always going

694
00:58:27,352 --> 00:58:33,712
to have incomplete information and your thinking is going to be pre-completed for you. And it's,

695
00:58:33,712 --> 00:58:38,172
it's sort of what you were describing with, you know, we don't have these people for young,

696
00:58:38,372 --> 00:58:43,812
we don't have, um, uh, role models for young people to look up to. It's the same thing. If

697
00:58:43,812 --> 00:58:48,212
Taylor Swift is your role model, if Justin B I'm probably standing data mentioning some of these

698
00:58:48,212 --> 00:58:53,052
people, but you know, I'm dated. What are you talking about? You know? Yeah. Yeah. You're, uh,

699
00:58:53,552 --> 00:58:57,052
yeah, you probably have other references you'd make, but I'm sure I'm a couple of years behind.

700
00:58:57,352 --> 00:59:04,472
but that's, that's the enemy of critical thinking is when someone else becomes the, um, like your

701
00:59:04,472 --> 00:59:09,492
North star, when one or two people become your North star and you can just shut off your brain

702
00:59:09,492 --> 00:59:13,492
as soon as they tell you what you're supposed to think. Yeah. And especially if it's somebody who

703
00:59:13,492 --> 00:59:19,952
you don't actually know. Okay. This is a, it's a, it's someone who shows up in your feed that

704
00:59:19,952 --> 00:59:27,032
you're fed and is very successful in the algorithm for some reason, maybe by design, who knows, but,

705
00:59:27,032 --> 00:59:33,052
But yeah, anything you can find in an individual who could act as that North Star for you.

706
00:59:33,232 --> 00:59:34,052
But it's someone you know.

707
00:59:34,252 --> 00:59:35,772
It's not someone who's presented to you.

708
00:59:36,832 --> 00:59:41,472
For you, I assume someone like Doug, who you've gotten to know, trust, love, respect.

709
00:59:42,032 --> 00:59:42,932
He's done a lot.

710
00:59:43,072 --> 00:59:44,012
Great experience.

711
00:59:44,212 --> 00:59:46,192
He's been wrong, but you've seen him wrong before.

712
00:59:46,272 --> 00:59:47,732
And he's been right most of the time.

713
00:59:48,072 --> 00:59:52,972
Someone like that makes a hell of a lot of sense for you to say, if Doug is saying something,

714
00:59:52,972 --> 01:00:01,612
I'm going to at least consider that very seriously and take it, you know, much more seriously than any number of talking heads on Fox or CNN.

715
01:00:02,352 --> 01:00:02,472
Yeah.

716
01:00:02,852 --> 01:00:06,732
But again, the biggest reason for me is because I have a personal relationship with him.

717
01:00:06,832 --> 01:00:09,412
So I know his strengths and his limits.

718
01:00:10,112 --> 01:00:12,892
You know, like, yeah.

719
01:00:13,592 --> 01:00:15,252
You can rely on people.

720
01:00:15,252 --> 01:00:17,852
You might find a North Star who's through the media.

721
01:00:18,012 --> 01:00:22,112
Maybe you can rely on for from a for a philosophical view.

722
01:00:22,972 --> 01:00:28,692
But as far as like facts or narrative, I would stay away in general, just relying on anybody.

723
01:00:29,492 --> 01:00:30,752
Yeah, no, I don't blame you.

724
01:00:31,072 --> 01:00:32,912
Okay, so I want to round this out for us.

725
01:00:33,752 --> 01:00:38,512
So first of all, I want to get an update on Max, but can you first explain why are you

726
01:00:38,512 --> 01:00:42,952
in Uruguay and what led you to, because you're an American, correct?

727
01:00:43,232 --> 01:00:45,032
Yeah, I'm also Uruguayan though.

728
01:00:45,072 --> 01:00:45,952
I just got my citizenship.

729
01:00:46,412 --> 01:00:46,972
Oh, congratulations.

730
01:00:47,432 --> 01:00:48,452
So what led you there?

731
01:00:48,532 --> 01:00:52,192
And is that like a permanent place that you're going to be or what are you thinking?

732
01:00:52,972 --> 01:01:01,532
Yeah. Well, we came down here. I had lived internationally before. I lived in Argentina for a couple of years in 2007.

733
01:01:03,852 --> 01:01:08,612
But yeah, during the COVID nonsense, you could see the trend of things.

734
01:01:08,612 --> 01:01:12,712
I didn't like the way the trend of things were trending and they're still trending in the same direction, by the way.

735
01:01:14,292 --> 01:01:21,912
And you just see you could see the end game with it all, at least with the economy, which is, you know.

736
01:01:22,972 --> 01:01:28,092
probably other things too. And I just, and I, and I just, I didn't like it. So what I, by going,

737
01:01:28,272 --> 01:01:33,892
by coming to Uruguay, I am essentially going back in time about 25 years in a lot of respects.

738
01:01:34,972 --> 01:01:38,952
And, uh, like a nice place to be there. Yeah. And well, especially, you know,

739
01:01:39,612 --> 01:01:44,272
just, you know, we've been here since I guess we, you know, we got here and, you know, uh,

740
01:01:44,272 --> 01:01:49,352
four and a half years ago. So, you know, especially for the last few years I had with

741
01:01:49,352 --> 01:01:53,972
my kids still i just you know i did that i wanted a good environment for them a healthy environment

742
01:01:53,972 --> 01:01:58,092
um you know i didn't know if people weren't going to allow me to go to the grocery store

743
01:01:58,092 --> 01:02:04,232
um and during the covid nonsense but you know here i don't need to go to a grocery store i have a

744
01:02:04,232 --> 01:02:10,952
cattle ranch and we have everything we need honestly so uh yeah and i don't know i always

745
01:02:10,952 --> 01:02:15,652
wanted to own a ranch also i had looked all over the u.s for ranches to buy and i couldn't find

746
01:02:15,652 --> 01:02:20,872
anything that I liked that was like, that really felt like it was right for me. And this place that

747
01:02:20,872 --> 01:02:26,732
we have here is honestly, it's, uh, it's, it's, it's Eden in many ways. It really is pretty perfect.

748
01:02:26,832 --> 01:02:32,792
So we love it. I don't, I still have some stuff in the U S I've got cars, motorcycles in an RV,

749
01:02:32,792 --> 01:02:37,632
but no real estate. And, um, you know, I still have some family there obviously, but

750
01:02:37,632 --> 01:02:43,832
yeah, I don't see myself moving back. Like we like it. Perfect. Well, I'm glad to hear that.

751
01:02:43,832 --> 01:03:07,732
Okay. So Max is well on his way through this. He's the guinea pig. Could you just really quickly tell me how, like how you've seen him change, what his feedback to you has been, you know, are there parts that he, he feels like, I don't know if I do that again, or maybe change things or in general, who's he just adopted. This is sort of a mindset, something he's going to accomplish and, uh, and is enjoying.

752
01:03:07,732 --> 01:03:13,772
yeah let's see where to start with it i'd say the most important thing to me as a father is just

753
01:03:13,772 --> 01:03:19,852
simply the fact that sometime i think it was actually on the on the on the sailing thing

754
01:03:19,852 --> 01:03:26,072
believe it or not but uh he went from being a boy to a man in all respects except for

755
01:03:26,072 --> 01:03:30,592
the final one which is having kids i don't actually think i think there's something missing

756
01:03:30,592 --> 01:03:36,272
until you have kids um but you know in other respects i mean every other respect uh you'd

757
01:03:36,272 --> 01:03:41,712
consider him a man and that that change from here where you know when he was when we started this

758
01:03:41,712 --> 01:03:49,712
whole thing he was anxious and pissed off you know not competent at anything but also just lost

759
01:03:49,712 --> 01:04:00,792
uh to being where he is confident he's uh extremely capable experienced wiser um

760
01:04:00,792 --> 01:04:07,272
it's just totally like he from boy to man in two years i don't know how to describe it he's

761
01:04:07,272 --> 01:04:13,272
totally independent i mean in every way you can imagine totally independent and uh yeah i'm quite

762
01:04:13,272 --> 01:04:17,892
proud of him so so to me the the book is a success because of that and because of that experience but

763
01:04:17,892 --> 01:04:24,872
the what max's experience has been and i'd say the difficulties he had is that you know uh the

764
01:04:24,872 --> 01:04:30,552
reason why Max is a co-author on the book is because he is completely a co-creator of the

765
01:04:30,552 --> 01:04:35,172
system because we were co-creating. I mean, he was doing all the work and we were just talking

766
01:04:35,172 --> 01:04:38,812
about it going, okay, well, like let's problem solve. And, you know, and I, you know, and I could

767
01:04:38,812 --> 01:04:43,332
work through some things early on with him and then come up with like, what is the right structure

768
01:04:43,332 --> 01:04:48,832
to be using? So I think his biggest thing would be, I wish, you know, I had this structure when

769
01:04:48,832 --> 01:04:53,452
I started because, you know, it feels like he wasted a lot of time or went down some, maybe some

770
01:04:53,452 --> 01:04:59,952
uh roads that he wouldn't have gone down or maybe he would have taken but overall i don't think he

771
01:04:59,952 --> 01:05:05,812
has any regrets from it at all because um would he do some of those things again i don't think so

772
01:05:05,812 --> 01:05:10,312
but that's the whole point you that's the whole point of the cycles it's like you do it and you're

773
01:05:10,312 --> 01:05:16,112
done like i don't want to go through basic training in the army again i'm glad i did you know but i

774
01:05:16,112 --> 01:05:20,172
definitely don't want to do it again so i think that's those experiences like that are great for

775
01:05:20,172 --> 01:05:25,852
you so yeah i i'm sure there are some things he i sure know these things he likes more than other

776
01:05:25,852 --> 01:05:31,732
things that he did but um he's doing great so he's like a little over two years into it now

777
01:05:31,732 --> 01:05:37,472
so like two in a two years in one cycle i guess and he's doing great where is it going to end up

778
01:05:37,472 --> 01:05:41,732
for him i you know you don't know i don't know i mean his last cycle he did was this entrepreneurship

779
01:05:41,732 --> 01:05:47,612
cycle and he did he did well with it and i think it opened his eyes to the possibilities there

780
01:05:47,612 --> 01:05:53,292
and um yeah i don't know i mean obviously i hope he's an entrepreneur of one form or another

781
01:05:53,292 --> 01:05:58,772
ultimately so he's not a wage slave which is the alternative well it's gonna be a good feeling to

782
01:05:58,772 --> 01:06:04,272
see that as a father i think uh i think you can be be proud and happy with the with the product

783
01:06:04,272 --> 01:06:08,772
you've produced here with this book uh last question for you what is an unpopular opinion

784
01:06:08,772 --> 01:06:13,532
that you hold and you get bonus points if you offend i'll say bitcoiners and sound money advocates

785
01:06:13,532 --> 01:06:23,352
with it um you should sell bitcoin sometimes okay not all your bitcoin yeah but here's the thing

786
01:06:23,352 --> 01:06:31,312
yeah listen so i've been through a lot of the cycles you know but i was never a uh i was never

787
01:06:31,312 --> 01:06:39,072
religious about bitcoin okay like i saw i saw early on what it could potentially be um but

788
01:06:39,072 --> 01:06:46,532
But because especially since 2016, I've been willing to sell as it started to go up.

789
01:06:46,732 --> 01:06:51,392
I didn't care if when it went down, I made so much money off of every time that every

790
01:06:51,392 --> 01:06:57,492
upcycle taking some profits that then when it went down, the bulk of my holdings could

791
01:06:57,492 --> 01:06:59,132
remain and I didn't care at all.

792
01:06:59,212 --> 01:07:00,732
It made no difference to me whatsoever.

793
01:07:00,732 --> 01:07:05,832
So, and I think that when people don't sell, when they, when they, when they had this big

794
01:07:05,832 --> 01:07:11,032
gain and it wouldn't pushed up at the top of the cycle and you didn't take any profits it makes it

795
01:07:11,032 --> 01:07:16,652
really hard to hold it when it gets in the doldrums and maybe the cycle is broken now and it's not

796
01:07:16,652 --> 01:07:22,732
doing what it has done repeatedly over the past but that in the past that volatility was a gigantic

797
01:07:22,732 --> 01:07:27,492
opportunity i mean think about it it took me my third try buying bitcoin for it to really work out

798
01:07:27,492 --> 01:07:32,872
for me thank god that had some cycles now yes i did buy it for a lot more but i knew enough by the

799
01:07:32,872 --> 01:07:38,412
third time to buy a lot of it when it was cheap and, you know, rode that all the way up. And,

800
01:07:38,412 --> 01:07:43,812
but I, but you should sell, you should take some profits. So don't sell your Bitcoin, but sell some.

801
01:07:44,472 --> 01:07:49,112
I think, I think it depends what you're saying makes sense. It depends on your thesis though.

802
01:07:49,212 --> 01:07:53,572
So my thesis of Bitcoin is that eventually it's going to be the world that the money that the

803
01:07:53,572 --> 01:07:57,432
world migrates to, because it's the only thing that everyone can opt into permissionlessly.

804
01:07:57,432 --> 01:08:03,692
and while i agree that you can you can sell you could potentially end up with more bitcoin i also

805
01:08:03,692 --> 01:08:07,292
know that there's a risk of people don't know what they're doing to end up with less bitcoin

806
01:08:07,292 --> 01:08:13,692
and so what i find prudent for for my bitcoin stack is just to i earn in bitcoin i accumulate

807
01:08:13,692 --> 01:08:18,592
it and i know that i could have more if i sold at certain times and repurchased at certain times

808
01:08:18,592 --> 01:08:25,152
for me it's not worth timing it i'm not a trader i'm not a like a experienced investor of any kind

809
01:08:25,152 --> 01:08:28,492
And so, but I, I, I hear your thought process.

810
01:08:28,532 --> 01:08:28,632
Yeah.

811
01:08:28,692 --> 01:08:29,552
Let me explain one more thing.

812
01:08:29,632 --> 01:08:34,352
The reason my concern is the same as yours is, is that you end up getting out of it.

813
01:08:34,932 --> 01:08:39,332
And I'm saying that sometimes if, especially if you've been through some of these crazy

814
01:08:39,332 --> 01:08:46,692
cycles and you know, the down, when it's down, it's like, like there's a lot of hopelessness

815
01:08:46,692 --> 01:08:47,172
out there.

816
01:08:47,612 --> 01:08:51,852
You know, I know, you know, it's, it's, it's performed well recently, obviously.

817
01:08:51,852 --> 01:08:59,132
um but uh you know in the last well in the last couple years it's done well um but i guess it's

818
01:08:59,132 --> 01:09:05,032
easy for me to say because my conviction is so high that there's there's not a bear market that

819
01:09:05,032 --> 01:09:12,612
shakes me you know yeah you're right there are a lot of people who are they come in they buy at

820
01:09:12,612 --> 01:09:17,412
the top and then they sell at the bottom and never look at it again yeah yeah that's that's a fair

821
01:09:17,412 --> 01:09:21,792
that's a fair point. So if I guess if that's what people need to, as, as they build their

822
01:09:21,792 --> 01:09:26,632
conviction, I think maybe my guidance would be for those folks, continue to build your conviction,

823
01:09:26,952 --> 01:09:31,592
read the books, do the study and put in the time because once you see it, once that switch is truly

824
01:09:31,592 --> 01:09:35,832
flipped, I think it's a lot harder for people to be shaken out of their stack. That's the key. You

825
01:09:35,832 --> 01:09:40,732
don't want to be shaken out. And your own psychology is your worst enemy when it comes to investing.

826
01:09:40,732 --> 01:09:46,132
It really is. It messes with you. You are, you're at war with your own psychology when it comes to

827
01:09:46,132 --> 01:09:51,612
investing. Absolutely. Well, Matt, thank you so much for your time again. Thank you for this book.

828
01:09:51,692 --> 01:09:58,752
I mean that this is my son is going to be a different man at age 18, 22, then he, he's going

829
01:09:58,752 --> 01:10:02,832
to be a different man at age 10 than if you had not written this book and I hadn't found it. So

830
01:10:02,832 --> 01:10:06,792
thank you so much. Any place you want to send people to, to find the book, to find out more

831
01:10:06,792 --> 01:10:11,772
about you, if you want to pass them along to Doug anywhere. I can give you a whole bunch of things.

832
01:10:11,772 --> 01:10:18,472
uh number one you can get the book on amazon is the easiest way to get it um number two if you

833
01:10:18,472 --> 01:10:24,612
want to see what the results end up being like it with it you can see maxim's blog it's at my son's

834
01:10:24,612 --> 01:10:31,052
maximsmith.com uh and then the last one is that i do the podcast with doug doug casey's take is

835
01:10:31,052 --> 01:10:37,032
what it's called uh we're taking a hiatus until for the last six weeks until we're starting after

836
01:10:37,032 --> 01:10:46,072
january 15th again but it's good because doug is uh doug as doug says he's old he's rich and he just

837
01:10:46,072 --> 01:10:51,932
doesn't give a fuck and so you get you get a you get a different view from somebody who has like

838
01:10:51,932 --> 01:10:57,912
him who has nothing to gain and really it doesn't care he's not trying to build his uh social media

839
01:10:57,912 --> 01:11:04,312
profile or anything like that and so the conversations are good and honest i love it

840
01:11:04,312 --> 01:11:07,032
I love it. Well, thank you, Matt. I really appreciate it. We'll link to all of that in

841
01:11:07,032 --> 01:11:11,152
the show notes, but until next time, I hope we can stay in touch, but take care, have a great day,

842
01:11:11,152 --> 01:11:14,032
and we'll talk soon. Absolutely. Thank you very much. I appreciate it.

843
01:11:14,592 --> 01:11:18,412
And that's a wrap again. Hope you enjoyed my conversation with Matt. I know I had a blast

844
01:11:18,412 --> 01:11:22,172
talking to him again, one of the most important books I've ever read, at least for the future of

845
01:11:22,172 --> 01:11:27,212
my own children, but go support him. Go buy the book. If this sounds at all interesting to you,

846
01:11:27,252 --> 01:11:31,332
if you're homeschooling your kids, if you have college age kids, certainly this is a perfect

847
01:11:31,332 --> 01:11:35,612
book to start reading. And of course, you can go follow along with the podcast he does with Doug

848
01:11:35,612 --> 01:11:41,112
Casey. And if you enjoyed this show, do me a huge favor, give us a like, subscribe, comment, share

849
01:11:41,112 --> 01:11:45,452
it with someone who you think might be interested to do us do anything for us to feed the algorithm,

850
01:11:45,452 --> 01:11:50,332
we would really, really appreciate that. And of course, if you need help taking proper 100%

851
01:11:50,332 --> 01:11:55,672
self custody of your Bitcoin, which you probably do, go to the bitcoinway.com slash podcast,

852
01:11:55,772 --> 01:11:59,672
you can schedule a free 30 minute consult with a member of our team can also help you with

853
01:11:59,672 --> 01:12:03,732
protecting your online privacy, setting up a privacy phone, going Jason Bourne style.

854
01:12:04,012 --> 01:12:08,812
And we have a plan B residency option as well that you'll want to hear about as the world goes crazy.

855
01:12:09,232 --> 01:12:12,332
Again, that's thebitcoinway.com slash podcast.

856
01:12:12,672 --> 01:12:17,392
Until next time, stay safe, stay sovereign, and remember the yield on Bitcoin is freedom.