Raoul Pal: Real Vision cover image

The World According to Punk6529, Part II

Raoul Pal: Real Vision

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Discount Rates Are a Social Convention, Right?

It's weird that I see people look at these NFTs and be like, well, this is not, that doesn't trade like a utility stock. Well, it's manifestation of human behavior. We are crazy. We're quite emotional monkeys. People did not have the concept of discount rates because if they did, there would be no mega projects, right? There'd be no great cathedrals. One of the reasons we don't do mega projects like this is the second you do a discounted cash flow statement and say, this is going to take 173 years to build.

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