Hi friend, I appreciate everyone that emailed me responses to my most recent email. One of my favorite replies was from Miiko, who gave me a play-by-play of emotions they experienced as they read the most recent intro about a hypothetical $300 shirt. At one moment, Miiko was stoked at the prospect of a nice shirt for a special occasion, but they also felt an underlying hum of being riled up. We’re all Miiko. We’re all a multiplicity of “I’s” with conflicting desires, feelings and ideas about who we are and who we want to be. We’re all existing in this state of tension. From the personal decision about what to invest in, all the way up to how we view society-wide issues, like inequality. I am of the opinion that part of the human experience is to just sit with these dualities and to let ourselves feel the friction they create. Not everything can be reconciled, but understanding our inner world is a foundational step to being better with money. Simply stepping back to watch one’s own mind can be illuminating. We can find the stories running on repeat like a favorite song and see how that underlying hum impacts how we think money works in the world, and how we interact with money in the world. Your friend, Paco
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PS. We’re doing something that should feel familiar but is actually brand new. Next week, we’re debuting Where’s The Money?! - a special edition of the Nerdletter. We’re talking directly to founders and freelancers about, well, money. Where it’s at (grants, accelerators, more!) and how to make it (real talk interviews). It’s an experiment, so we’ll want to hear whether you dig it or want to ditch it.
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1. 🎭 Managing money starts with your emotions (Washington Post) I weighed in on the emotions of money. 2. 💸 'Buy now, pay later' sends TikTok generation spiraling into debt (SF Gate) 3. 🧮 What’s Your Rate of Inflation? (The New York Times) An interactive calculator.4. 🎓 Colleges Going 'No Loan' to Help Students Graduate Debt-Free (Money) 5. 🤓 A bookkeeping thing - 5 Steps That Can Help Business Owners Build Real Wealth (Paco for Gusto) 6. 🥈 The Second Coming of the Hipster Grifter (The Cut) “Why did she scam? Ferrell has a few theories, which she’s bandied about in therapy and rehashes for me over our pizza. Maybe it was because of the mindfuck of growing up Mormon and bisexual, or her participation in Utah’s straight-edge subculture, where young people coped with the conservative environment by reveling in petty retail theft. Or maybe it was the trauma of her transracial, transnational adoption in the ’80s.” 7. 🔥 Why This Computer Scientist Says All Cryptocurrency Should “Die in a Fire” (Current Affairs) “The cryptocurrency space is ‘speed-running 500 years of financial history.’ By which I take you to mean that all of the financial disasters of centuries past are playing out in short order, and then they have to rediscover the solutions that were put in place for those things not to happen. So you start off thinking, ‘Oh, wouldn’t it be fantastic if there were no central authority?’ and then all of a sudden you realize, ‘Actually, it really would be nice if we had a central authority to regulate fraud and such’ and you rediscover the virtue of banks and government.” 8. ✈ Why must we pay to have a slightly less miserable time at the airport? (Vox) “Businesses charge more all the time to give you the same things faster. Ride-hail companies give you an option to get picked up quicker if you pay a little extra. E-commerce companies will deliver your packages faster, for a price. Sometimes, the pay-to-accelerate stuff is just a nuisance, like at a ski resort or a convenience store. Other times, it’s discriminatory and disturbing, like rich people getting quicker access to Covid-19 vaccines or being sent to the front of the phone queue when trying to get in touch with the IRS.”
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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 2022 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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