Pomp @APompliauno

My rules of business: Build shit people want, never give up, avoid assholes, question assumptions, learn new ideas & always reward ambition

Worth reading.

What was the best thing you read, watched, or listened to this week? Any topic is fair game.

A key insight to understand for the next decade is there are more degens on Wall Street than in crypto. The insanity doesn’t really begin until the large pools of capital start playing in the long tail.

Imagine being in college right now. You sit in class and hear your professor talk about high interest rates and tight financial conditions, while you and your boys are aping into meme coins and zero-day options in the back of the room. Complete disconnect from theory & reality.

“The happiness of your life depends upon the quality of your thoughts.”― Marcus Aurelius

Ambition is a competitive advantage in recruiting.

Some people just love to build things. Highly underrated quality to have.

Good morning. Today is going to be a great day. Let’s get after it relentlessly

The number of homes that are being listed for sale has been exploding since the start of the year. People don't seem to care about interest rates — they want to sell their homes. @NewsLambert breaks the data down & explains what you need to know. READ: resiclubanalytics.com/p/national-hom…

Most of my friends I have met on Twitter at this point. Pretty cool how impactful this platform has been.

Good morning. Today is going to be a great day. Let’s get after it relentlessly

I went on @myfirstmilpod and talked about a few business ideas I am looking for partners to help me build, along with a few startup companies you could join that probably have solid upside for employee stock options. Go listen and let me know what you think.

Bitcoin & artificial intelligence both require high-performance compute infrastructure. @danroberts0101 and IREN are pioneering a strategy with data centers to serve both markets — he explains how in this conversation. Full episode on X. Listen: podcasts.apple.com/us/podcast/133…

We are hosting a free webinar on April 3rd to help people get a job in the bitcoin & crypto industry. People from Fidelity, BTC Inc, OKX & Compass Mining are joining to answer questions about a day in their life working in the industry. RSVP: lu.ma/BTCcareers

America Has Become A Society Of Gamblers You can see this everywhere you look. Zero-day options are dominating public markets. Meme coins are bought and sold like 1980’s boiler room penny stocks. Major sport leagues are integrating sports betting into every corner of their operations. Risk taking might as well be the 28th amendment to the US Constitution at this point. This is what happens when a nation’s currency is being destroyed. People continue to fall behind financially and the wealth inequality gap widens. Rather than seeing a path to financial security, the average person loses hope. There is no path to a brighter future. Once hope is lost, the gambler’s mindset takes over. So what if they lose a little money on a 100:1 odds bet? The alternative is a life of debt and financial pressure. Gambling is the best of two bad choices — at least the individual feels a degree of agency when selecting which bet to make. This is insane behavior when viewed through a logical lens, but it makes complete sense when you view it through human psychology. Gambling gives people hope in a broken economy. You may not think that the US economy is broken, but the average American would disagree. It is now less expensive to rent than purchase in all 50 major metros. Citizens owe more than $1.1 trillion on credit card balances. More than 43 million Americans have federal student loan debt, with the average balance being more than $37,000. The US dollar has lost 25% of its purchase power since January 2020. For every $1 someone had 4 years ago, they can only buy $0.75 worth of goods today. Given these facts, gambling doesn’t seem so illogical. There are only two paths to fixing the problem. Either the United States figures out how to stop the accelerated debasement of the currency, which would allow citizens to gain restored confidence in the protection of their hard-earned economic value, or citizens will have to resist the urge to gamble and instead seek out alternative assets that help them outperform the inflation they are experiencing. It is hard to tell someone to buy the S&P 500 when they feel like they have to find 10x investment opportunities to stay ahead. Singles and doubles have created many millionaires. Home run swings lead to many strike outs. But this data doesn’t matter when people have lost hope. They need the light at the end of the tunnel, which is being shined brightest today by zero-day options, meme coins, and sports betting. Many of us may not agree with it. We must acknowledge what is happening though. The future damage created by this development is hard to comprehend. An entire generation is growing up in a different regime and it is unlikely they can be coaxed back into value investing, dollar-cost averaging, and other timeless investing principles. YOLO and FOMO rule the day. Such a sad reality.

This is the letter that I sent to 260,000 investors this morning. You can get the letter in your inbox every morning by subscribing here: pompletter.com

Got an email yesterday from a founder. It said the company won $1 billion in a lawsuit. I thought they mistyped the number. Turns out it was not a typo. First time for everything.

The US dollar has lost 25% of its purchasing power since January 2020. Every $1 you had is now worth $0.75 of goods. Insane.

America has become a gambling society. Zero day options. Meme coins. Sports betting. Everyone takes more risk when the currency is being destroyed.