Prioritize big-ticket purchases

I've made several spending blunders. I get sick thinking about how much money I spent.

My financial mental model was poor back then.

Stoicism and mindfulness keep me from attaching to those feelings. It still hurts.

Until four or five years ago, I bought a new winter jacket every year.

Ten years ago, I spent twice as much. Now that I have a fantastic, warm winter parka, I don't even consider acquiring another one. No more spending. I'm not looking for jackets either.

Saving time and money by spending well is my thinking paradigm.

The philosophy is expressed in most languages. Cheap is expensive in the Netherlands. This applies beyond shopping.

In this essay, I will offer three examples of how this mental paradigm transformed my financial life.

Publishing books

In 2015, I presented and positioned my first book poorly.

I called the book Huge Life Success and made a funny Canva cover in 30 minutes. This:

That looks nothing like my present books. No logo or style. The book felt amateurish.

The book started bothering me a few weeks after publication. The advice was good, but it didn't appear professional. I studied the book business extensively.

I created a style for all my designs. Branding. Win Your Inner Wars was reissued a year later.

Title, cover, and description changed. Rearranging the chapters improved readability.

Seven years later, the book sells hundreds of copies a month. That taught me a lot.

Rushing to finish a project is enticing. Send it and move forward.

Avoid rushing everything. Relax. Develop your projects. Perform well. Perform the job well.

My first novel was underfunded and underworked. A bad book arrived. I then invested time and money in writing the greatest book I could.

That book still sells.

Traveling

I hate travel. Airports, flights, trains, and lines irritate me.

But, I enjoy traveling to beautiful areas.

I do it strangely. I make up travel rules. I never go to airports in summer. I hate being near airports on holidays. Unworthy.

No vacation packages for me. Those airline packages with a flight, shuttle, and hotel. I've had enough.

I try to avoid crowds and popular spots. July Paris? Nuts and bolts, please. Christmas in NYC? No, please keep me sane.

I fly business class behind. I accept upgrades upon check-in. I prefer driving. I drove from the Netherlands to southern Spain.

Thankfully, no lines. What if travel costs more? Thus? I enjoy it from the start. I start traveling then.

I rarely travel since I'm so difficult. One great excursion beats several average ones.

Personal effectiveness

New apps, tools, and strategies intrigue most productivity professionals.

No.

I researched years ago. I spent years investigating productivity in university.

I bought books, courses, applications, and tools. It was expensive and time-consuming.

Im finished. Productivity no longer costs me time or money. OK. I worked on it once and now follow my strategy.

I avoid new programs and systems. My stuff works. Why change winners?

Spending wisely saves time and money.

Spending wisely means spending once. Many people ignore productivity. It's understudied. No classes.

Some assume reading a few articles or a book is enough. Productivity is personal. You need a personal system.

Time invested is one-time. You can trust your system for life once you find it.

Concentrate on the expensive choices.

Life's short. Saving money quickly is enticing.

Spend less on groceries today. True. That won't fix your finances.

Adopt a lifestyle that makes you affluent over time. Consider major choices.

Are they causing long-term poverty? Are you richer?

Leasing cars comes to mind. The automobile costs a fortune today. The premium could accomplish a million nice things.

Focusing on important decisions makes life easier. Consider your future. You want to improve next year.

What works and what’s just more toxic positivity

Just keep at it; you’ll get it.

I closed the Zoom call and immediately dropped my head. Open tabs included material on inspiration, burnout, and recovery.

I searched everywhere for ways to avoid burnout.

It wasn't that I needed to keep going, change my routine, employ 8D audio playlists, or come up with fresh ideas. I had several ideas and a schedule. I knew what to do.

I wasn't interested. I kept reading, changing my self-care and mental health routines, and writing even though it was tiring.

Since burnout became a psychiatric illness in 2019, thousands have shared their experiences. It's spreading rapidly among writers.

What is the actual key to recovering from burnout?

Every A-list burnout story emphasizes prevention. Other lists provide repackaged self-care tips. More discuss mental health.

It's like the mid-2000s, when pink quotes about bubble baths saturated social media.

The self-care mania cost us all. Self-care is crucial, but utilizing it to address everything didn't work then or now.

How can you recover from burnout?

Time

Are extended breaks actually good for you? Most people need a break every 62 days or so to avoid burnout.

Real-life burnout victims all took breaks. Perhaps not a long hiatus, but breaks nonetheless.

Burnout is slow and gradual. It takes little bits of your motivation and passion at a time. Sometimes it’s so slow that you barely notice or blame it on other things like stress and poor sleep.

Burnout doesn't come overnight; neither will recovery.

I don’t care what anyone else says the cure for burnout is. It has to be time because time is what gave us all burnout in the first place.

Restructuring and layoffs cause career reevaluation. Your career can benefit.

Once you become institutionalized, the corporate ladder is all you know.

You're bubbled. Extremists term it the corporate Matrix. I'm not so severe because the business world brainwashed me, too.

This boosted my corporate career.

Until I hit bottom.

15 months later, I view my corporate life differently. You may wish to advance professionally. Read this before you do.

Your happiness in the workplace may be deceptive.

I've been fortunate to spend time with corporate aces.

Working for 2.5 years in banking social media gave me some of these experiences. Earlier in my career, I recorded interviews with business leaders.

These people have titles like Chief General Manager and Head Of. New titles brought life-changing salaries.

They seemed happy.

I’d pass them in the hallway and they’d smile or shake my hand. I dreamt of having their life.

The ominous pattern

Unfiltered talks with some of them revealed a different world.

They acted well. They were skilled at smiling and saying the correct things. All had the same dark pattern, though.

Something felt off.

I found my conversations with them were generally for their benefit. They hoped my online antics as a writer/coach would shed light on their dilemma.

They'd tell me they wanted more. When you're one position away from CEO, it's hard not to wonder if this next move will matter.

What really displeased corporate ladder chasers

Before ascending further, consider these.

Zero autonomy

As you rise in a company, your days get busier.

Many people and initiatives need supervision. Everyone expects you to know business details. Weak when you don't. A poor leader is fired during the next restructuring and left to pursue their corporate ambition.

Full calendars leave no time for reflection. You can't have a coffee with a friend or waste a day.

You’re always on call. It’s a roll call kinda life.

Unable to express oneself freely

My 8 years of LinkedIn writing helped me meet these leaders.

I didn't think they'd care. Mistake.

Corporate leaders envied me because they wanted to talk freely again without corporate comms or a PR firm directing them what to say.

They couldn't share their flaws or inspiring experiences.

They wanted to.

Every day they were muzzled eroded by their business dream.

Limited family time

Top leaders had families.

They've climbed the corporate ladder. Nothing excellent happens overnight.

Corporate dreamers rarely saw their families.

Late meetings, customer functions, expos, training, leadership days, team days, town halls, and product demos regularly occurred after work.

Or they had to travel interstate or internationally for work events. They used bags and motel showers.

Initially, they said business class flights and hotels were nice. They'd get bored. 5-star hotels become monotonous.

No hotel beats home.

One leader said he hadn't seen his daughter much. They used to Facetime, but now that he's been gone so long, she rarely wants to talk to him.

So they iPad-parented.

You're miserable without your family.

Held captive by other job titles

Going up the business ladder seems like a battle.

Leaders compete for business gains and corporate advancement.

I saw shocking filthy tricks. Leaders would lie to seem nice.

Captives included top officials.

A different section every week. If they ran technology, the Head of Sales would argue their CRM cost millions. Or an Operations chief would battle a product team over support requests.

After one conflict, another began.

Corporate echelons are antagonistic. Huge pay and bonuses guarantee bad behavior.

Overly centered on revenue

As you rise, revenue becomes more prevalent. Most days, you'd believe revenue was everything. Here’s the problem…

Numbers drain us.

Unless you're a closet math nerd, contemplating and talking about numbers drains your creativity.

Revenue will never substitute impact.

Incapable of taking risks

Corporate success requires taking fewer risks.

Risks can cause dismissal. Risks can interrupt business. Keep things moving so you may keep getting paid your enormous salary and bonus.

Restructuring or layoffs are inevitable. All corporate climbers experience it.

On this fateful day, a small few realize the game they’ve been trapped in and escape. Most return to play for a new company, but it takes time.

Addiction keeps them trapped. You know nothing else. The rest is strange.

You start to think “I’m getting old” or “it’s nearly retirement.” So you settle yet again for the trappings of the corporate ladder game to nowhere.

Should you climb the corporate ladder?

Let me end on a surprising note.

Young people should ascend the corporate ladder. It teaches you business skills and helps support your side gig and (potential) online business.

Don't get trapped, shackled, or muzzled.

Your ideas and creativity become stifled after too much gaming play.

Corporate success won't bring happiness.

Find fulfilling employment that matters. That's it.

Ethereum is the second-largest cryptocurrency. The Merge, a mid-September event that will convert Ethereum's consensus process from proof-of-work to proof-of-stake if all goes according to plan, will be a game changer.

Why is Ethereum ditching proof-of-work? Because it can. We're talking about a fully functioning, open-source ecosystem with a capacity for evolution that other cryptocurrencies lack, a change that would allow it to scale up its performance from 15 transactions per second to 100,000 as its blockchain is used for more and more things. It would reduce its energy consumption by 99.95%. Vitalik Buterin, the system's founder, would play a less active role due to decentralization, and miners, who validated transactions through proof of work, would be far less important.

Why has this conversion taken so long and been so cautious? Because it involves modifying a core process while it's running to boost its performance. It requires running the new mechanism in test chains on an ever-increasing scale, assessing participant reactions, and checking for issues or restrictions. The last big test was in early June and was successful. All that's left is to converge the mechanism with the Ethereum blockchain to conclude the switch.

What's stopping Bitcoin, the leader in market capitalization and the cryptocurrency that began blockchain's appeal, from doing the same? Satoshi Nakamoto, whoever he or she is, departed from public life long ago, therefore there's no community leadership. Changing it takes a level of consensus that is impossible to achieve without strong leadership, which is why Bitcoin's evolution has been sluggish and conservative, with few modifications.

Secondly, The Merge will balance the consensus mechanism (proof-of-work or proof-of-stake) and the system decentralization or centralization. Proof-of-work prevents double-spending, thus validators must buy hardware. The system works, but it requires a lot of electricity and, as it scales up, tends to re-centralize as validators acquire more hardware and the entire network activity gets focused in a few nodes. Larger operations save more money, which increases profitability and market share. This evolution runs opposed to the concept of decentralization, and some anticipate that any system that uses proof of work as a consensus mechanism will evolve towards centralization, with fewer large firms able to invest in efficient network nodes.

Yet radical bitcoin enthusiasts share an opposite argument. In proof-of-stake, transaction validators put their funds at stake to attest that transactions are valid. The algorithm chooses who validates each transaction, giving more possibilities to nodes that put more coins at stake, which could open the door to centralization and government control.

In both cases, we're talking about long-term changes, but Bitcoin's proof-of-work has been evolving longer and seems to confirm those fears, while proof-of-stake is only employed in coins with a minuscule volume compared to Ethereum and has no predictive value.

As of mid-September, we will have two significant cryptocurrencies, each with a different consensus mechanisms and equally different characteristics: one is intrinsically conservative and used only for economic transactions, while the other has been evolving in open source mode, and can be used for other types of assets, smart contracts, or decentralized finance systems. Some even see it as the foundation of Web3.

Many things could change before September 15, but The Merge is likely to be a turning point. We'll have to follow this closely.

Jobs' secret emails became public due to a litigation with Samsung.

Steve Jobs sent Phil Schiller an email at the end of 2010. Top 100 A was the codename for Apple's annual Top 100 executive meetings. The 2011 one was scheduled.

Everything about this gathering is secret, even attendance. The location is hidden, and attendees can't even drive themselves. Instead, buses transport them to a 2-3 day retreat.

Due to a litigation with Samsung, this Top 100 meeting's agenda was made public in 2014. This was a critical milestone in Apple's history, not a Top 100 meeting. Apple had many obstacles in the 2010s to remain a technological leader. Apple made more money with non-PC goods than with its best-selling Macintosh series. This was the last Top 100 gathering Steve Jobs would attend before passing, and he wanted to make sure his messages carried on before handing over his firm to Tim Cook.

In this post, we'll discuss lessons from Jobs' meeting agenda. Two sorts of entrepreneurs can use these tips:

1. Those who manage a team in a business and must ensure that everyone is working toward the same goals, upholding the same principles, and being inspired by the same future.

2. Those who are sole proprietors or independent contractors and who must maintain strict self-discipline in order to stay innovative in their industry and adhere to their own growth strategy.

Here's Steve Jobs's email outlining the annual meeting agenda. It's an 11-part summary of the company's shape and strategy.

Steve Jobs outlines Apple's 2011 strategy, 10/24/10

1. Correct your data

Business leaders must comprehend their company's metrics. Jobs either mentions critical information he already knows or demands slides showing the numbers he wants. These numbers fall under 2 categories:

Metrics for growth and strategy

• As we will see, this was a crucial statistic for Apple since it signaled the beginning of the Post PC era and required them to make significant strategic changes in order to stay ahead of the curve. Post PC products now account for 66% of our revenues.

• Within six months, iPad outsold Mac, another sign of the Post-PC age. As we will see, Jobs thought the iPad would be the next big thing, and item number four on the agenda is one of the most thorough references to the iPad.

• Geographical analysis: Here, Jobs emphasizes China, where the corporation has a slower start than anticipated. China was dominating Apple's sales growth with 16% of revenue one year after this meeting.

Metrics for people & culture

• The individuals that make up a firm are more significant to its success than its headcount or average age. That holds true regardless of size, from a 5-person startup to a Fortune 500 firm. Jobs was aware of this, which is why his suggested agenda begins by emphasizing demographic data.

• Along with the senior advancements in the previous year's requested statistic, it's crucial to demonstrate that if the business is growing, the employees who make it successful must also grow.

2. Recognize the vulnerabilities and strengths of your rivals

Steve Jobs was known for attacking his competition in interviews and in his strategies and roadmaps. This agenda mentions 18 competitors, including:

• Google 7 times

• Android 3 times

• Samsung 2 times

Jobs' agenda email was issued 6 days after Apple's Q4 results call (2010). On the call, Jobs trashed Google and Android. His 5-minute intervention included:

• Google has acknowledged that the present iteration of Android is not tablet-optimized.

• Future Android tablets will not work (Dead On Arrival)

• While Google Play only has 90,000 apps, the Apple App Store has 300,000.

• Android is extremely fragmented and is continuing to do so.

• The App Store for iPad contains over 35,000 applications. The market share of the latest generation of tablets (which debuted in 2011) will be close to nil.

Jobs' aim in blasting the competition on that call was to reassure investors about the upcoming flood of new tablets. Jobs often criticized Google, Samsung, and Microsoft, but he also acknowledged when they did a better job. He was great at detecting his competitors' advantages and devising ways to catch up.

• Jobs doesn't hold back when he says in bullet 1 of his agenda: "We further lock customers into our ecosystem while Google and Microsoft are further along on the technology, but haven't quite figured it out yet tie all of our goods together."

• The plan outlined in bullet point 5 is immediately clear: catch up to Android where we are falling behind (notifications, tethering, and speech), and surpass them (Siri,). It's important to note that Siri frequently let users down and never quite lived up to expectations.

• Regarding MobileMe, see Bullet 6 Jobs admits that when it comes to cloud services like contacts, calendars, and mail, Google is far ahead of Apple.

3. Adapt or perish

Steve Jobs was a visionary businessman. He knew personal computers were the future when he worked on the first Macintosh in the 1980s.

Jobs acknowledged the Post-PC age in his 2010 D8 interview.

Will the tablet replace the laptop, Walt Mossberg questioned Jobs? Jobs' response:

“You know, when we were an agrarian nation, all cars were trucks, because that’s what you needed on the farm. As vehicles started to be used in the urban centers and America started to move into those urban and suburban centers, cars got more popular and innovations like automatic transmission and things that you didn’t care about in a truck as much started to become paramount in cars. And now, maybe 1 out of every 25 vehicles is a truck, where it used to be 100%. PCs are going to be like trucks. They’re still going to be around, still going to have a lot of value, but they’re going to be used by one out of X people.”

Imagine how forward-thinking that was in 2010, especially for the Macintosh creator. You have to be willing to recognize that things were changing and that it was time to start over and focus on the next big thing.

Post-PC is priority number 8 in his 2010 agenda's 2011 Strategy section. Jobs says Apple is the first firm to get here and that Post PC items account about 66% of our income. The iPad outsold the Mac in 6 months, and the Post-PC age means increased mobility (smaller, thinner, lighter). Samsung had just introduced its first tablet, while Apple was working on the iPad 3. (as mentioned in bullet 4).

4. Plan ahead (and different)

Jobs' agenda warns that Apple risks clinging to outmoded paradigms. Clayton Christensen explains in The Innovators Dilemma that huge firms neglect disruptive technologies until they become profitable. Samsung's Galaxy tab, released too late, never caught up to Apple.

Apple faces a similar dilemma with the iPhone, its cash cow for over a decade. It doesn't sell as much because consumers aren't as excited about new iPhone launches and because technology is developing and cell phones may need to be upgraded.

Large companies' established consumer base typically hinders innovation. Clayton Christensen emphasizes that loyal customers from established brands anticipate better versions of current products rather than something altogether fresh and new technologies.

Apple's marketing is smart. Apple's ecosystem is trusted by customers, and its products integrate smoothly. So much so that Apple can afford to be a disruptor by doing something no one has ever done before, something the world's largest corporation shouldn't be the first to try. Apple can test the waters and produce a tremendous innovation tsunami, something few corporations can do.

In March 2011, Jobs appeared at an Apple event. During his address, Steve reminded us about Apple's brand:

“It’s in Apple’s DNA, that technology alone is not enough. That it’s technology married with liberal arts, married with the humanities that yields us the results that make our hearts sink. And nowhere is that more true that in these Post-PC devices.“

More than a decade later, Apple remains one of the most innovative and trailblazing companies in the Post-PC world (industry-disrupting products like Airpods or the Apple Watch came out after that 2011 strategy meeting), and it has reinvented how we use laptops with its M1-powered line of laptops offering unprecedented performance.

A decade after Jobs' death, Apple remains the world's largest firm, and its former CEO had a crucial part in its expansion. If you can do 1% of what Jobs did, you may be 1% as successful.

Not bad.