Christopher H. Loo, MD-PhD
Betting and Investing in Yourself
by: Christopher H. Loo, MD-PhD
Welcome back. Hope you guys had a restful weekend, and looking forwards to the week.
Recently, I came across this article discussing the concept of "Betting on Yourself".
It struck me because the #1 investment that you can make is in yourself.
Investing in yourself can be investing time into your health, relationships, family, business, finances, spirituality, or career. It can be an investment of focus and intention to work on these areas of your life.
Investment can be in the form of education such as webinars, books, digital products, courses, conferences, seminars, networking, or even coaching.
In all of these actions, you are "betting on yourself".
If you get 0.1% better every single day, imagine where you can be in 6 months, 1 year, 5 years.
By investing in yourself, you are increasing your daily exponential gains.
Imagine if you got 1% better each and every day in all areas of your life.
After a decade you become unrecognizable for those who remember you before you decided to invest in yourself.
You become more confident, comfortable in who you are, what your purpose, your mission, your goals.
It's like an airplane. If the trajectory is off by 1 degree or more, after several hours, the destination is completely different. Same goes with personal development and bettering yourself.
By investing in yourself, the biggest change will be your mindset, perceptions, and beliefs. It will be what you put into your body and mind, and what you surround yourself with, influence wise. It will be who you keep close company with, and who you keep within your network.
With that, let's dive now into an eventful week!
Latest podcast releases from Financial Freedom Podcast!
Financial Freedom makes it to the #1 spot on PodMatch. If you're not on PodMatch, it's a great service connecting podcast hosts and guests. Podcast hosts can get paid for interviewing guests on their show. It's also a great way to vet guests, connect, network, and grow your show. You can check out the sign-up link here (affiliate).
The content, downloads, and audience have more than 5x'ed since launch of last year. 2023 is going to be no different. I am looking forwards to compounding growth.
Latest releases include:
#101 - Helping people "Live Life On Purpose & Not By Accident!" with Dwight Heck (Give a Heck Financial) - Dwight talks about being intentional in your decision making process as it relates to all areas of our lives. What struck me the most was the ability to get out of auto-pilot mode, tune out the noise from media, friends, family, and society, and get down to basics such as your core values, and what you want to live your life by, and how you want to be remembered. It was a fascinating discussion.
#102 - Financial Freedom Through Real Estate Investing with Mehdi Khachani (JMK Real Estate) - Interesting discussion on the state of the markets, impact of higher interest rates. Disclaimer: results not verified. Not advice.
Latest books read:
Buy then Build: How Acquisition Entrepreneurs Outsmart the Startup Game by Walker Deibel (2018) - interesting read on startup entrepreneurship. As opposed to the "cold start" problem and building a business from the ground up, the book advocates for working smarter by acquiring the essential pieces and building from there. If you have capital and not a lot of time, acquisition entrepreneurship may be the better and smarter way to go.
Latest news I've been paying attention to:
Apple in the hotseat- Elon Musk threatened to make his own smartphone if Apple bans Twitter from it's App Store last week. This has since resolved as Apple has resumed advertising on Twitter, but it underscores the larger issue of large monopolistic centralized powers. Elon also took to Twitter spaces over the weekend to discuss censorship, free speech, and democracy. You can watch the full interview on YouTube here. I see an emerging trend with the disconnect between mainstream media and with social media. Coinbase removed the ability for users to send each other NFT's as a result of Apple requiring users to pay for gas fees within the app, and charging Coinbase 30% of those gas fees. This reminds me of the monopoly that Microsoft had in 2001 over which operating system could be used on their desktops. The battle has now shifted to smart phones.
Brazil moves to allow Bitcoin to be used a legalized form of payment. It is a huge step forwards towards mainstream adoption. The number of wallet addresses holding at least 1 Bitcoin continues to climb towards the 1 million mark, and the number of Bitcoin (109,133) moved off of centralized exchanges to cold storage reached 1.8 billion in the last week, signifying the trend towards self-custody. Given the colossal failures of CeFi in the past decade, I see in the future the role that centralized exchanges play will be on-off ramps from fiat to crypto, and that centralized exchanges will be forced to pivot and evolve if they are to remain relevant. The network adoption continues in the upward-to the right trend. With the fallout of FTX, I anticipate more regulatory clarity as well as a larger role for CBDC's, stable coins. Also, Telegram building a Web3 wallet and a decentralized exchange and Stripe coming out with a Web3 tool allowing customers to convert fiat to crypto. These are emerging players in the space, and will be interesting to see how all of this plays out.
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