This book is a classic in the realm of stock market literature, detailing the life and trading experiences of Jesse Livermore, a legendary trader, under the pseudonym 'Larry Livingston'. It explores Livermore's journey from his early days in 'bucket shops' to becoming a prominent figure on Wall Street. The book highlights the importance of understanding market psychology, the dangers of overtrading, and the need for discipline and independent analysis in trading. Despite being written nearly a century ago, its lessons on market dynamics and human nature remain relevant today[2][3][4].
Eliezer Yudkowsky's "Inadequate Equilibria" explores the concept of how systems, particularly social and economic ones, can become stuck in suboptimal states due to flawed incentives and cognitive biases. The book argues that identifying and challenging these 'inadequate equilibria' is crucial for progress and improvement. Yudkowsky uses examples from various fields to illustrate his points, emphasizing the importance of rationality and critical thinking in navigating complex systems. He highlights the role of individual action in disrupting these equilibria and creating positive change. The book's insights are relevant to a wide range of fields, including economics, technology, and social dynamics.
In this episode, I sit down with Kain Warwick, co-founder and former CEO of Synthetix who's now building Infinex, the crypto everything app.
After stepping away from Synthetix and overcoming his struggles with addiction, Kain shares raw insights about DeFi's broken incentives and his mission to fix crypto's biggest structural problems.
This episode covers:
• Traits of Successful Crypto Founders
• Why Crypto's Market Structure is Broken
• Celebrity Coins & Clout Chasing
• Do NFTs Still Make Sense?
• Fixing Crypto Market Incentives
• Why Some Founders Quit
• Is Freediving Worth the Risk?
• Building Businesses Amid Addiction
• Prediction for the Next 12 Months?
& much more!
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PARTNERS
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🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana.
https://jup.ag/
💧Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed to make digital asset ownership fast, private, secure, and accessible.
https://sui.io/
🤖 SwissBorg is Europe’s top trusted crypto app offering user-centric investment platforms and DeFi asset management with reliability and innovation.
Sign up with this link and earn up to €100 : https://join.swissborg.com/r/kevinH6E7
♾ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies.
https://www.coinsilium.com
🔘 Mantle Network enhances dApp development with Ethereum's security, low fees, and quick transactions through innovative layer-2 technology. Users can stake ETH for mETH, contributing to a transparent, community-driven ecosystem governed by $MNT token holders, fostering innovation and collaboration.
https://www.mantle.xyz
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FOLLOW KAIN WARWICK
• Twitter: https://x.com/kaiynne
• Twitter: https://x.com/infinex_app
• Website: https://infinex.xyz/
FOLLOW KEVIN & WHEN SHIFT HAPPENS👇
Twitter (X): https://x.com/KevinWSHPod
Instagram: https://www.instagram.com/kevinwshpod/
TikTok: https://www.tiktok.com/@kevinfollonier_
Linkedin: https://www.linkedin.com/in/kevinfollonier/
Website: https://www.podpage.com/when-shift-happens/
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DISCLAIMER
The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.
#Entrepreneurship #Crypto #news
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0:00 Trailer
1:31 Partnerships
2:31 Traveling With My Family
4:25 Taking DeFi to the Next Level
5:56 Who is Kain Warwick?
7:22 Stage One Success, Stage Two Realization
10:10 Trezor Partnership
11:03 Why Some Founders Quit
17:25 Traits of Successful Crypto Founders
23:22 Freediving: Passion and Discipline
29:03 Is Freediving Worth the Risk?
34:04 The Danger of Consensus Thinking
42:16 Tokens vs. Tokenless Protocols
47:24 Celebrity Coins & Clout Chasing
52:43 Why Crypto's Market Structure is Broken
1:03:49 Fixing Crypto Market Incentives
1:05:13 What is Infinex?
1:08:18 Lifelong Believers vs. Casual Investors
1:09:35 Do NFTs Still Make Sense?
1:12:35 The Pudgy Penguin Effect
1:14:10 Life Beyond Financial Milestones
1:15:45 Dealing with Drug Addiction
1:22:41 Building Businesses Amid Addiction
1:26:20 Happiness After Addiction
1:28:56 Happiness and Fulfillment
1:34:04 Prediction for the Next 12 Months?
1:39:03 Concluding Remarks
When Shift Happens Podcast 
