Innovation Is Try Failing, Try Fail, Try Failed

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I think you're out of the 20 17 bubble. Even if you're excited about the tech yet, you just have to realize that even if you are so confident in the technology over all, that you're still making an a symmetric bet. Good investments don't change the world. They make and sustain profits. That's from a random walk down wall street. And so i think people can't discount that. You really need to value things in that way, and not just say, while this is really cool, with my style of being, this is going to change the way the world works. The market is a weighing machine, even if in the short term it's a voting

At a time where several asset classes are at all-time highs, there's a lot of talk about whether we're in a bubble. That, coupled with crypto assets falling to ~half of their highs, prompted Cal and Steph to dive in to try to answer this question.

In this episode, they discuss the markings of past bubbles, the innovation hype cycle, the difficulty in profiting from nascent innovations, the importance of educating yourself and building your own conviction behind your decisions, managing your psychology (offense vs defense), the cyclical nature of market cycles, and of course... the burning question of whether they think we're in a bubble today.

They also share how they've fared in crypto and how they're thinking about investing moving forward (including Cal's foray into de-fi)

Recommended resources include the books "The Simple Path to Wealth" and "A Random Walk Down Wallstreet", as well as economic indicators like the Shiller PE ratio: https://www.multpl.com/shiller-pe

*** NOT FINANCIAL ADVICE *** :)