Jack Dorsey, CEO of Strike, a Bitcoin financial service company, joins me in this episode to talk about his journey into Bitcoin and why he thinks Bitcoin is the best investment of all time. We talk about how Bitcoin is a great hedge fund and why you should not panic when Bitcoin hits $100,000.
00:01:39.140I'm probably the face that a lot of people here aren't going to know.
00:01:41.620But I got into Bitcoin back in November of 2013.
00:01:45.180And then ever since then, I went down the journey.
00:01:47.040And I really started covering the equities that were getting involved in Bitcoin.
00:01:51.740So companies like MicroStrategy has really been what I've started to cover in the corporate adoption and companies shifting over to a Bitcoin treasury standard for themselves.
00:02:01.200And I'm really happy to be here with you guys.
00:02:02.720I got a couple stories to start off for you guys.
00:02:04.440So I think most people who know my Bitcoin story who watch the show have heard this, but bear with you so I can tell these gentlemen so they can laugh at me.
00:02:11.920In 2011, in like January, I was hanging out at a hacker space in California.
00:03:48.440But tell me about where you guys are at.
00:03:50.120So, well, I was telling these guys before, and we were saying the Microsoft, they just put it up for vote of their company should buy it as a treasure reserve asset.
00:04:37.280He said, I think he probably talked me into it, but I'll probably talk to him more afterwards and go all the way, all the way down that rabbit hole.
00:04:43.660But, you know, so once you understand what is money and what is good money, then you can start taking the road to Bitcoin.
00:04:48.040And if you don't understand those things, you may just be in for the number go up.
00:05:12.620How much of the thing that only goes up do you want to own as much as possible?
00:05:15.680So I looked myself in the mirror at some point.
00:05:17.880I said, well, why do I own any dollars if they only go down?
00:05:20.480Is it because I've been programmed and my first principle of thinking has been stripped from my brain by going to university?
00:05:28.700Like, why do I own any of these things?
00:05:32.780And so the way I set up my life and our company, we sell this product, but I'm not even here to be a salesman, is I get my paycheck, direct deposit, 100% converted into Bitcoin.
00:06:12.680And so, yes, the fact that I have to share my gain with the government, we can talk about, you know, the philosophical debate all day long.
00:06:21.920I'd rather give the government a little bit of my gain than have gotten debased and inflated.
00:06:26.620That's the ultimate tax is if I'm sitting in dollars.
00:06:29.460So the fact that I'm in the best performing asset of all time and I have to share a little bit with the government when I pay a bill, that's a way better deal than just getting persistently poor forever.
00:06:39.060And so, listen, like Bitcoin's up over 100% this calendar year.
00:06:43.760100% is a fancier way for those at home of saying that things more than doubled.
00:06:47.660More than doubled if it's my base checking account, if it's my capital asset.
00:06:51.720That's another way of saying my life's gotten over half off this year.
00:07:11.600But you know what's crazy, too, about the taxes is if you end up owing taxes at the end of the year, they charge you the inflationary interest.
00:08:10.260And now time's gone on and you realize what it is that you were holding.
00:08:13.720And it took me a couple of years, probably until 2017, to really have it click for me what was happening.
00:08:19.900And that when you're looking at Bitcoin, the beauty that it brings to us is it gives everyone an education in economics that they're not going to get anywhere else.
00:08:28.880Most people, when you go to school, they'll teach you all your standard talking points around inflation.
00:08:34.480But you don't really understand how it impacts your life and the life of the people you care about.
00:08:39.220And the reason that Bitcoin really grabbed me was because it was the only one of these digital assets that people told other people they care about about it.
00:08:49.320They weren't trying to get people into a speculative play to pump it.
00:08:52.200Like you're telling your family members.
00:28:58.700Well, that's been a fake metric forever also.
00:29:00.720That's the point, is that when you have a currency like the U.S. dollar, they can play games to generate the outcome that they want to communicate to you.
00:29:08.520Anyone who goes to the grocery store knows inflation is not in the 2% to 3% range.
00:29:12.580You want to know the sad story, the sad thing of that $5,000 from the beginning I told you about, I've never spent it.
00:29:21.080It was my savings, and I've only saved more on top of it since then, got a different job, got more contracts.
00:29:26.380Wait, but are you saving in dollars or saving in Bitcoin?
00:29:31.820Now, you know, I'm very pleased to say that Bitcoin is about $1,000-something.
00:29:38.580And I was just like, it went through those cycles where, so I had about 20 Bitcoin again in like, I can't remember what year it was, maybe 2012.
00:29:49.540It hit $20 at some point, and then I was like, from $5 to $20, I get $400 cash.
00:30:10.860The one thing, too, going back to 2011 when I was saying it was at $0.70, people are going to look at Bitcoin now with Coinbase or Gemini or SwanBitcoin and things like that, where they can just buy it and it's relatively easy.
00:31:08.620So what you realize is measuring inflation is on a per unit basis, right?
00:31:12.240It's like if CPI is measured at 3%, but housing is 20% year over year, you got to be getting a 21% raise every single year just to be making progress to be a homeowner, right?
00:31:21.080So maybe a good metric isn't housing or oil, but, you know, $5,000 can only get you so far.
00:31:27.660$400 million, that can buy you like three whole senators.
00:31:33.300The other one that I like, the other chart I like showing people because they say, oh, you know, one of the bigger, it's too volatile, right?
00:31:39.040If you look at, say, the 200-week moving average, it's up only, right?
00:31:43.000And so you don't get into Bitcoin for this, you know, quick number go up.
00:31:47.140You get into it because you understand it and you want a long-term hold.
00:31:50.620And if you look at the 200-week moving average, it's up only.
00:31:54.060Yeah, but people got to grow up, man, with the whole – scared of volatility.
00:39:47.220But El Salvador, this is the beginning of a nation proving that this is a path towards wealth and prosperity.
00:39:55.780But what I find fascinating is the hatred and resistance from the establishment, how they insulted and attacked Naive Bekeli as he was doing this.
00:40:04.540And now Trump is in a similar position ideologically where Naive is.
00:40:09.520Arrest the gangs, shut down the cartels.
00:41:41.240And then, you know, kind of like with the IMF and the World Bank, they propose that they're doing good.
00:41:47.200But they really essentially just keep all these people under their thumb.
00:41:49.980And then, you know, I don't want to make any statements for sure, but, you know, if you read some books, you learn some things.
00:41:56.700And it seems like when the – and this is why, like, B. Kelly, to me, should – I can't believe they haven't assassinated him yet.
00:42:03.260Because the United States government in some way, shape, or form has probably assassinated many other Central and South American dictators who don't do what they want over the course of years.
00:42:11.880And so if you can buy Bitcoin and get freedom from the IMF and the World Bank and all the things that they force you to do, that's a really, really powerful thing.
00:42:20.340So I can't believe there has been not one other country who has followed his lead to this.
00:42:24.380El Salvador has gotten – it's a lot of credit for tough on crime.
00:42:52.120But you've watched a country that was in a perpetual indebted relationship that was killing them and suffocating them like we're living through in America that was able to climb out of it through Bitcoin.
00:43:05.920And I don't know why no one is drawing that narrative to America.
00:43:09.220We're obviously a larger scale, but why can't we do the same?
00:43:51.720And then to Jack's point, or I can't remember who made the point, but when someone wants to now go home to El Salvador from wherever they're at, that's a big shift.
00:43:59.580Because people were only leaving, and they were trying to come to the United States and send money back, and that money was getting captured by Western Union on the way in the door.
00:44:07.440They were bleeding all that value out, wasn't getting home to where they thought it was going to be.
00:44:11.320Just that simple shift of saying, we're going to embrace Bitcoin, we're not going to attack Bitcoin, and we're going to support the growth of Bitcoin within our borders, has been such a huge transformation for that country that I don't think it's going to be able to be ignored.
00:44:24.660I mean, this is historic dream-come-true-level stuff.
00:44:40.520Yeah, you know the other thing that we haven't brought up yet in this conversation, and actually, I was just, I was talking to my daughter about it on the way over here, but high-time preference versus low-time preference behavior.
00:44:51.280And when you really get into Bitcoin, you start going deep down the rabbit hole, I feel like it changes the way you think about a lot of things.
00:44:57.380So in a high-time preference country where your money's inflating at an insane rate, so, you know, what was Argentina, but they're turning that around.
00:45:08.940If you get your paycheck on Friday, and by the next Friday, your money's devalued, there's absolutely no point in saving, because why would you ever plan for the future?
00:45:18.440Because your money's essentially going to go to zero, so there's no use in trying to save and plan for the future.
00:45:23.920So you have this insanely high-time preference behavior, and that's really bad, right?
00:45:29.000And if you have money which is good and strong and solid, you're going to have low-time preference behavior, which means I know the money I earned today in 2024 is going to be worth, you know, as much or more 10 years down the road.
00:45:51.880When you go back to money 101, just monetary theory, and money is the market good that you don't consume and you need to save it, the intention of money is to be able to place a premium on tomorrow.
00:46:07.080And so there's a direct correlation to the harder the money, the better human flourishing in society because we're able to coordinate and place a premium on tomorrow.
00:46:17.040And so that's fundamentally – and that's what Ben's talking about is low-high-time preference.1.00
00:46:20.840If your money's shit, then tomorrow's shit.0.99
00:46:23.020If your money's hard and good, then tomorrow could be great.1.00
00:46:26.060And your ability to have confidence in that – because everyone's preference is now.
00:46:29.720You want $10 million now or $10 million in 10 years?
00:46:33.180But our ability to place premiums on tomorrow and the future and not go to the beach every day, not spend everything we have right now on bottle service and Louboutin bags, seriously, I mean, that's what you're talking about, 100%.
00:48:31.940And then 10 years it's worth the same amount and I can spend it.
00:48:34.380But every single friend I know has to say, oh, do I want to invest in extra real estate or do I want to invest in the stock market?
00:48:40.600Or where do I invest my money because they know subconsciously that they have to invest in something in order for their money to keep up with inflation so it doesn't go away.
00:48:49.700And that's kind of like – that's another one where it's like I wish we didn't have to do that.
00:48:53.180I wish we just had good money and we didn't have to worry about it devaluing.
00:48:56.020Well, debasing the currency is probably the cruelest thing you can do to society.
00:49:00.740And you can – what human-level KPI do you care about to measure how society is doing?
00:49:10.660At one point, life expectancy was crashing.
00:49:13.580Recently, like 2022, I haven't gotten an updated statistic.
00:49:16.900But if you create a society where, to Ben's point, you're supposed to be a doctor, you're supposed to be an engineer, not 50% doctor, 50% expert on central bank, Japanese monetary policy and your Robin Hood account.
00:49:30.060Seriously, and people are getting unhealthy because they're compromising on the quality of their food because they can't afford it.
00:49:36.680And so it's the worst thing you can do to a civilization is you're basically sucking the life out of it by sucking the purchasing power, the monetary good, out of the people.0.98
00:51:07.480It puts you in such a place of strength where you can actually spend the time to think about what are the assets I should be owning to continue my success forward?
00:51:15.040How do I build on the advantage I had early in life?
00:51:17.580But most people don't have that advantage.
00:51:19.580Because they're brainwashed to go to college.
00:51:44.120But here's the reality is, if things that you need in your life are getting 10% more expensive year over year, you have to be getting an 11% raise every single year or you're working backwards.
00:52:07.280That means you have – when you print money, assets inflate, right?
00:52:10.960Bitcoin housing, so those that own the assets, the boomer class, has all the money, all the housing.
00:52:15.660Who do you think is going to compete better in a housing bid war, the guy that's worked 50 years at 60 years old or the guy that's worked five months at a fresh college grad?
00:52:23.400So you've got serious civil unrest, mentally ill and physically ill population of the youth.
00:52:29.420They're like now don't know what gender they are.1.00
00:52:31.540It's sick, sick kids that don't own assets that are in perpetual debt that are compromising on their profession and their quality of life because they're running a rat.
00:53:09.020I was going to say, look at the depression and anxiety rates that have started to pop up in the last decade or two, right?
00:53:13.840I mean, when people feel hopeless, and that's the position a lot of people are finding themselves in, they're starting to feel hopeless like there's no way out.
00:53:20.980That's when you're going to start seeing the massive rise in that.
00:53:24.020And so the more education that can get out there to let people know that you have an alternative now, you don't have to be stuck in that system, that's a huge net positive for the world.
00:53:33.500And I do think that the youth – I'm starting to see them get really involved, right?
00:53:37.300And I think a lot of them are probably following Jack because he's electric.
00:53:40.660But that education is going to pay dividends for their entire life if they learn it early.
00:53:46.460Most people wait until it's way too late, and they're under the $200,000 of student loan debt, and they have to be in a job that they hate because they have no other alternative.
00:53:56.080They're starting to see a way out, and I think getting that message out is one of the most important things we can do.
00:54:00.600So the International Monetary Fund, the swift payment system, right, the weapon that is used by Petrodollar, Western, NATO, et cetera, you know, we're going to sanction you.
00:54:11.760We're going to cut you off from the credit card transactions and things like this.
00:54:15.740So I'm jumping back because I pulled up the wiki on El Salvador, which I find absolutely fascinating.0.87
00:54:20.360There's a section on presidency of Naib Bukele, and it says – it's fascinating to read this because if you're a layman who pulls up Wikipedia, I feel bad for you because Wikipedia is trash.
00:54:31.840But this is what a lot of people are turning to, and I think it proves the point of the machine being outraged, upset.
00:54:37.840It says in January of 2022, the IMF urged El Salvador to reverse its decision to make cryptocurrency legal tender.
00:54:43.680Bitcoin had rapidly lost about half its value, meaning economic difficulties, and as of May 2022, the government bonds trading at 40% of their original value.
00:54:52.960The prospect of looming sovereign default, Bukele announced back in January 2022 plans to build Bitcoin City at the base of a volcano in El Salvador.
00:55:00.780Nowhere do they write here that Bitcoin has exploded in value, and he's made a massive gain.
00:55:06.240They do go on to mention near the bottom.
00:55:07.960What's fascinating is it then goes on to say his fight against criminal gangs made it some of the highest incarceration rates in the world with crackdowns resulting in hundreds of deaths and international human rights organizations declaring it the worst abuse of human rights since the Civil War.
00:55:23.180And then it says he won the election with 83% in 2024 because they're not telling you the full picture that Bitcoin exploded.
00:55:31.960It's about real transformation, the reduction in crime, becoming one of the safest countries in the world now, the safest in Central America, I think safer than America now, and extremely wealthy.
00:55:57.120Listen, the machine, like the IMF is the debt machine.
00:56:01.120So as you're talking about getting young kids in student loan debt, the way this machine works is they go to your developing nation and say, if you want a McDonald's and you want to be wealthy, take a loan from us.
00:56:10.880And they know that loan will never be paid back.
00:56:50.940I don't know if this, you know, it's just it's not like when I went to El Salvador and I worked with the government on the Bitcoin stuff, I was so excited.
00:58:01.200And, you know, and then that goes into like the cotillion effect.
00:58:04.340And who's ever closest to the money printer is the one that's benefiting the most from the money printer.
00:58:08.180And then the government has co-opted all these organizations, media and otherwise, pharmaceutical, et cetera, to kind of like push this narrative.
00:58:17.360And regular people can see we're being lied to and we didn't like it.
00:58:20.220So, you know, that was kind of this uprising that you're talking about.
00:58:32.200And you're seeing a guy like Bukele out there whose approval rating just continues to rocket through the roof.
00:58:36.860And they've brought themselves into the serious position of independence for their own nation.
00:58:41.400And I think that Trump looks at the United States and he can kind of view this as his opportunity to set us on a new trajectory where we've got a new path.
00:58:50.860And he can be the guy that made that change.
00:59:22.740So do you look at that and do you say maybe there's an opportunity for us to integrate with this and maybe the U.S. dollar then still continues to be the transactional currency across the globe and it might even strengthen its position.
00:59:34.800But we're going to start backing ourselves with the new emerging assets that's decentralized from all countries.
00:59:41.680And we're going to participate in that, too.
00:59:43.020And I think he's got a chance to change the course of history.
00:59:45.560I mean, that's probably Trump's biggest challenge going into this term is the debt is so insane.
00:59:51.440And we're about to go into this debt spiral where, I mean, interest on debt payments, I think, this year is $1.3 trillion or $1.4 trillion.
00:59:59.520I mean, if it gets much worse, there's no coming out of it.
01:00:02.180Like, it's going to go to zero eventually.
01:00:03.940We're reaching the bad part of escape velocity, right?
01:00:06.220We're going to reach that escape velocity.
01:02:30.260What do you guys—so we had this story break from Google just a couple days ago.
01:02:34.740Willow, the state-of-the-art quantum chip, that they say was able to handle a benchmark computation that would take 10 septillion years.
01:02:42.940It handled it in less than five minutes.
01:02:44.680And the concern is with the rapid development of quantum computing, encryption as we know it will be completely dismantled.
01:02:50.180So to simplify it for everybody, the way Bitcoin works is there's a private and public key.
01:02:54.900It's basically you get access to a thing, and then you have an encrypted password that can't be broken that ensures only you have access to those specific Bitcoin or fractions of.
01:03:04.780A quantum computer can basically find the password instantly and then unravel the whole thing, get access to anybody's Bitcoin.
01:04:21.160The article says it lends credence to the notion that quantum computation occurs in many parallel universes in line with the idea that we live in a multiverse.
01:04:29.340That's like the craziest thing you could write.
01:04:43.420So people think that quantum is just like a standard computer, but super powerful.
01:04:47.560But I think this is a good time to reference that Bitcoin is technology, which for the first time we have a money that can adapt and get better.
01:04:57.120Like what I think fascinating point is Bitcoin is going to get better for as long as I'm alive and then long after I'm dead.
01:05:04.080Gold, like once gold stopped working, it's a rock.
01:06:49.640You had a bunch of people who are relatively pro-America, anti-government, conspiracy theorists, etc.
01:06:54.060So the idea goes, you're the IMF or the Davos group or whatever, and you're sitting there being like, these people do not – they're not going to let us just do this.
01:07:49.340Any standard algorithm, moderately weak AI can track the entire ledger of Bitcoin and figure out who you are, what you're buying, and where that money is going.
01:08:01.320So with the public ledger, Bitcoin itself is a massive surveillance network of everything you'd purchase.
01:08:08.380Cash, you can buy a lot of things in cash and transfer that value the government can't track.
01:08:13.160And so as the conspiracy goes to simplify, powerful international interests wanted to create a global currency or global trade of value to replace the petrodollar.
01:08:22.360They needed to get, in order to get ubiquity or to get adoption, you have to give it to your, make your opponents believe it's their path to victory and play the heel.
01:08:31.420All of these anarcho-capitalists adopt it, it becomes mainstream.
01:08:36.660And now, a simple example is when, I think it was Weave, Andrew Anheimer fled the country of the United States and went to Ukraine and was posting on like a Stormfront or whatever, Daily Storm or whatever the website was.
01:08:48.240Journalists knew he had received $1 million in Bitcoin because the public ledger tracks where everything is going.
01:08:57.940Now they can simply ask ChatGPT if it's plugged in, show me the entire transaction history of John Smith, and it'll show everything they've ever done in Bitcoin.
01:09:07.760And then it can map out probably what expects them to buy.
01:16:38.240Guys, I'm telling you, I've been in this space for 12 years.
01:16:40.720None of those questions have ever been answered.
01:16:43.500The value accrual has been by drawing a false comparison to Bitcoin and rent seeking off of this trend that Bitcoin and Satoshi created.0.90
01:16:52.620So that's why my initial reaction is bullshit because there's a little bit of anger there.0.67
01:16:57.080You guys are riding the coattails of this technology with no clear value creation whatsoever.0.98
01:17:13.760You have to be able to extrapolate how this is going to benefit you in your real life.
01:17:17.300And if you can't tell people that, it's very tough for someone to say this thing should be immensely valuable.
01:17:22.940And I think that's what happens in a lot of the broader crypto ecosystem.
01:17:26.360The value that it seems to hold to a lot of people, and I'm not just talking to Ethereum, I'm talking to all the other ones, because I went down that rabbit hole too, right?
01:17:32.380It's almost like a rite of passage when you first find these things.0.99
01:17:34.820You've got to buy some shit coins.0.99
01:17:37.220You've got to go screw up big time, right?
01:17:39.400And so I got in earlier, and you see all these people making all these money on all these dog coins, and you're like, wow, people are really valuing these.
01:18:24.960Well, so we haven't spoken about what's the opportunity size of Bitcoin.
01:18:29.720So there's about $900 trillion worth of stuff in the world that people own.
01:18:34.320And if we're talking about money in that what you want to save and persist and exchange later for the goods and services you need, about half of that is people use as money.
01:18:44.820But people are using housing as money, equities as money, right?
01:18:47.420But you can safely estimate the opportunity for Bitcoin is about $450 trillion worth of opportunity size because that's the amount of wealth in the world today that people are just trying to save.
01:18:57.900Like people are always like, what's the use case for Bitcoin?
01:19:26.440It's the best money that humans have ever created, and 8 billion people use money every single day.0.90
01:19:33.260But if Solana is like a really valuable technology, whatever, I actually don't even follow these shit coins enough, but it's like, Amazon's valuable technology.0.80
01:19:44.220Okay, what's the opportunity that, what's it, $2 trillion company, $1 trillion company, something like that, right?
01:19:49.300So Solana's ceiling is like, oh, man, if they could be as successful as Amazon, which in your life, get the hell out of here, but let's just assume.0.64
01:19:56.260But if Bitcoin is successful, it's 500 times of an opportunity bigger for the world.
01:20:01.380So I think these things are an utter and complete distraction.
01:20:20.760Well, he said that, you know, he said in the last cycle, cause there's all this bullshit that always comes up.0.98
01:20:24.900And he said, you know, the unfortunate thing is these high time preference behaviors is really smart kids coming out of college, realize they can come create some type of shit, Bitcoin, a blockchain project, and then make a hundred million dollars overnight and cash out.0.98
01:20:39.700And that's the easiest way to make a whole bunch of money.0.99
01:20:42.020And so you have all these people doing all these bullshit coins.0.98
01:20:44.280And then, so you know, if you watched for the last seven years and you see just scam after scam, after scam, it's like, I'm just going to stay away from all of that.0.97
01:20:52.260Well, you got to, if you go onto YouTube, you can watch people doing it live.
01:20:54.940I saw a video the other day of some 12 year old kid launching some coin on Solana and he rug pulled it live.
01:23:38.240Like, instead of I'm just an engineer or I'm just a doctor, I'm an engineer and a speculator that has to earn an ability to make progress towards a home.
01:23:47.480And you become degeneracy where you're looking for a way to just stay afloat and just find a way to finance having a kid or finance a home or finance a vacation.
01:23:56.840And, yeah, Hawk to a coin is – I'll tell you what.
01:23:58.900Hawk to a coin – no, in all seriousness, Hawk to a coin's got more upside than just saving in dollars.
01:24:05.920There's at least a chance you're going to win.
01:26:00.780Like, if you're just buying it and your only intent is, well, if it's 100,000 today, hopefully it's 110,000 tomorrow, you don't really understand what you own.
01:27:10.600There is a really funny meme where it's, you know, the woe jack of the greasy guy with flies and like a couple hair and it's supposed to be like a leftist or whatever.
01:27:21.080There's like a normal looking Chad guy being like, after doing my research, saving up some money, I decided to buy a small amount of Bitcoin.
01:27:29.340I've seen a tremendous return of about 240%.
01:27:58.080So this dude then saw Bitcoin and just started buying up crazy amounts of it because he's an anti-government, you know, conspiracy kind of guy.
01:28:41.580When a really good idea needed attention, needed energy, those people were there when no one else was.
01:28:48.860And the fact that that guy even put a bid in the market and valued it at more than zero is worth the private jets he's flying on right now because look at how it's helping the world.
01:28:56.480So I do think – I want that message to get out there.
01:28:59.680And you mentioned it, Tim, is buying it is half the battle.
01:29:15.580Or even just holding through the bear markets because it's like as much conviction as you have, you are lying if at some point during the bear market you're like, damn it, am I a dumbass?0.99
01:30:17.260And then I said, on September 1st, if whatever I paid you in Bitcoin is worth less than what you – you know, what you earned, I will pay you the rest to make it up to you.
01:30:27.020Just, you know, I didn't want – it wasn't a ton of money, right?
01:30:29.200I didn't want them to feel like I was ripping them off.
01:30:31.460Well, so that summer, Bitcoin was $6,000, $7,000, $8,000, you know?
01:30:37.360And so some of them, you know, if they made $1,500 that summer, they might have made somewhere, you know, between $10,000 and $15,000 instead of $1,500.
01:30:47.680And I just harassed all – there was three or four of them that I mainly paid.
01:30:51.740And one of them claims to still have half of it.
01:31:33.360If I put all of my income into Bitcoin like it was a bank account, like I get a paycheck, convert to Bitcoin and save it, I could have probably bought five cars per year.
01:32:13.220My wife gets mad at me when I go on this rant.1.00
01:32:16.480So many people buy so much bullshit they don't actually need and they think that bullshit is going to make them happy and it makes them happy for maybe a short window of time.1.00
01:32:24.420But the bullshit doesn't make them long-term happy.0.99
01:32:26.960And so like I have so many friends who are working these jobs that they don't actually like.0.98
01:32:30.220So if you just saved in something that actually held its value and didn't buy bullshit all the time, then you could say, hey, you know what?0.98
01:32:37.600I don't need this job anymore because I'm independently wealthy and I'm going to do whatever the fuck I want.0.61