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Howdy, Here’s a passage from Finance for the People about magic, math and money: Magic is not and has never been cool, but I’ve always been fascinated by it. It was never something I really got into myself, but whenever it was around, it felt exciting. I love that magic plays with the audience’s expectations. I love that feeling of having your mind blown and not being able to explain what you just experienced. Witnessing a trick always makes me reconnect with a childlike sense of wonder. I try not to take the magical things in my life for granted. Seeing a seed sprout into a plant that has a flower that turns into food is magical. Yes, we can explain it with science, but that doesn’t take away from how magical that is. Coincidences can probably be explained by probability or we can let it feel magical. Math is a lot more magical than we choose to see. Music, a thing that can unite us, move us and make us feel something that we can’t put into words is completely ruled by math. Meter, time, the distance between notes and the vibrations of sound waves are all mathematical, yet what it produces is a magical feeling. We see the same math in the beauty of nature and art too, from the Fibonacci sequence to the rule of thirds. I think one of the things that drew me to finance was an element of magic. It seemed like people somehow made something from nothing; like there was sleight of hand inherent in how the financial world operated. I choose to study finance because I wondered how it all worked behind the curtain. Where does the money go? If a bank lends a dollar that I deposited, did the bank just magically create two dollars out of one? How do all those fast-talking salespeople in nice, slick suits get rich? How do they take other people’s money and use it to magically make more money? Who are they tricking? Are they tricking us? Your favorite finance friend,
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1. 😷 With COVID protections expiring, tenants are now facing big rent hikes (Paco on NPR) I spoke with Michel Martin on Weekend All Things Considered on how renters can best deal with the increase. 2. 🤑 The internet turned “money” into a hobby (Vox) Why (mostly) 20- and 30-something dudes made crypto and sports betting their personality. 3. 🐶 Bring in the clones: Instagrammers are genetically replicating their pets (Input) “If someone made a living off of their pet and then suddenly their pet is gone, what do they do?” 4. 💁♀️ My first impressions of web3 (Moxie) A little dense, but insightful nonetheless. 5. 🤓 A bookkeeping thing - Understanding Cash-Basis Accounting vs. Accrual-Basis Accounting (HYG Original)
6. 🤔 How to Want Less (The Atlantic) “If you base your sense of self-worth on success—money, power, prestige—you will run from victory to victory, initially to keep feeling good, and then to avoid feeling awful. The unending race against the headwinds of homeostasis has a name: the “hedonic treadmill.” No matter how fast we run, we never arrive.” 7. 😡 Wrath of the crypto bros: Buzzfeed attacked for revealing identity of Bored Ape NFT creators (Fortune) “The question is whether hiding behind an avatar should remain the exclusive personal choice for those playing an outsize role in this rapidly expanding ecosystem—one in which they themselves serve as gatekeepers.” 8. 👩👧👦 Meet The Moms Making A Killing Reselling Baby Clothes On Instagram (Buzzfeed) “The prices for rare items can be astronomical. According to Megan Marshall, a spokesperson for Kate Quinn, the brand has seen ‘highly sought-after items fetching more than 10 times their retail price.’ In one Kyte Baby B/S/T group, a pair of toddler pajamas (retail price $30-34) recently went for $335, a blanket (retail price $70-$80) for $625, and a onesie (retail price $18) for $90. Myers’ biggest profit came from a Posh Peanut ‘luxe patoo’ blanket, which retails for $98. She sold it for $1,000.”
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Join me for a teach-in on Sunday, Feb 20th at 3p at the Shopify storefront in downtown LA. And thanks to the generous folks at Junior High and Shopify, it's free. RSVP here.
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🤓 Did you hear? We're offering a portion of our classified ad space to newly created, not-yet-profitable, BIPOC, or female-identifying owners through 2021 free-of-charge to our subscriber community. Do you have a project or business that could use a boost during these weird times? Let us know about it, and we'll schedule it to appear in The Nerdletter. 🤓
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