Saw a Wall Street Journal article (behind paywall) on this topic which was a short version of this upcoming book: _Mattering: The Secret to a Life of Deep Connection and Purpose_
"What these retirees were describing wasn’t just disappointment in a lack of opportunities. It was an erosion in something far more fundamental—their sense of mattering, the deep human need to feel valued and to have a chance to add value to the world. We plan for our wealthspan and healthspan, mapping out financial security and physical well-being. Yet very few of us prepare for an equally essential dimension of retirement: our mattering span, or how we will continue to feel seen, useful and capable of making a difference in this next chapter of life."
Okay, one last project to share. If you are more a start from zero sort of person, see this wonderful set of videos on designing a 3d printable manual knitting machine. Realistically, more of a wonderful educational process you should see, than an economically viable one. (Meaning you can buy used mass produced hardware for cheaper.)
If out are willing to move the carriage back and forth manually, and transfer yarn manually (for increases and decreases, etc.), the route to go is buy an electronic Brother machine and replace the electronics. The old standard was the AYAB board that you constructed yourself. (the evilmadscientist.com version is no longer in production) https://www.ravelry.com/groups/ayab for help and to meet fellow travelers. (circuit board and components: https://www.etsy.com/shop/redpinkgreen)
The less DIY more professional looking way is the recently released eKnitter, which replaces the electronics, but in a manner that more closely resembles the original form factor of the machine. https://eknitter.com/produkt/eknitter/
Seems like she, personally, has been spared the need to go out and promote the book, the only thing Facebook seems to have gotten out of the arbitration. In return they provided far more promotion than her appearing on podcasts would have done.
IANAL, and would really like to read some legal commentary of what Facebook thought they were going to achieve. As far as I can tell they have a pretty hollow victory. Even if they were somehow able to stop her from receiving royalties, it seems like Macmillan could pay her sideway with a contract and advance on her next book, her story of Facebook trying to silence her. Once again, IANAL, desperately want to read multi page thoughts from one on the Facebook strategy.
Yes, I bought the book and am enjoying it immensely. It has a nice fun irreverent sense of humor.
but a great bet as the bubble was bursting was not mining equipment for the prospectors, but instead energy drinks for the coders. Specifically $1000 invested in Monster Beverage Corporation (MNST) would be worth $1,187,849 today.
same $1000 invest peak dot com on March 10, 2000
Apple (AAPL): Value today : $266,862.
Nvidia (NVDA): Value today : $882,065.
Amazon (AMZN): Value today : $256,482.
Personally I find it really fun. Helps keep chasing money in perspective.
Could have, should have, would have.
Company I was working for didn't go public until the end of March that year. No horror stories from me, was a fun time to be working, lots of great memories.
Investing in a market index today is even easier. Instead of doing historical research on thousands of stocks, you just compare the expense ratios of a handful of index funds and pick the lowest one.
I don't disagree but even modest bets in specific companies have done pretty well over the past couple decades or so. Yes, they're gambles but small-ish bets for bigger payoffs than NASDAQ. (Though that's been pretty good overall and probably safer in aggregate.)
It’s hard to know few decades ago which companies to put substantial money in. It’s hard to know which companies will perform in the next few decades. And if you are wrong in your bets, there goes a few decades of your life and you can’t rewind the clock to try again.
If you’re retirement investing there’s there’s no need to make substantial bets in individual companies. 90% in index funds will get you to a reasonable retirement, 10% in something that looks interesting has minimal downside and significant upside because the value of money is non linear.
Assuming a buy and hold strategy at worst all your bet goes to zero which is unlikely, but there’s many companies that go to 100+X and hitting them can meaningfully boost your retirement. Gateway computers vs Dell wasn’t an obvious choice, but that’s a coin flip with huge upsides. Buy it in a given year and ignore it for the next 20, no you’re not going to time the market but you would see most of the upside.
I wouldn't fault anyone for just not doing individual investing. But, yep, if you're interested in putting in some time and think you have some insight into a particular sector, putting 10% or whatever into some individual companies you think are particularly interesting isn't a bad strategy. Some will flame out but maybe you'll hit one or two gems. It can also make sense to clean house now and then. I did that a couple years ago and I'm glad I did.
- mainstream investment (passive or active via trusted professionals and with balanced approach); and —
- making non bank-breaking direct stock investments in some really promising early stage public companies (again, with professional help)
Without the latter the return would be just that — earning a return; it won’t even come close to wealth or have a possibility of that.
PS. Yes, those professional help won’t have a crystal ball, but they can tell you from an average company to good to just okay to absolute shit via things like their books, governance, returns, plans etc.
Yeah. AAPL could have been a huge win for anyone. I actually did pretty well but nothing like the step level function that investing a bit earlier or bigger could have been. And there was also a bit of a drop when a lot of people could have doubled down but got out. But there's a lot of luck involved. (And I've since diversified most of it to money managers and taken the tax benefits.)
In the case of APPL it is fun to think about what the money I spent on a computer that year like a Power Mac G4 could have been worth today if I had invested in the stock instead.
I remember local developer group chats about BTC / ETH in early 2010s. We met weekly next to local restaurant bar. I like to calculate what if I had skipped a meal or a drink one night and instead bought BTC or ETH with the that money what it would be worth today.
I tried to buy 20,000 BTC in 2010 for $20. But this predates exchanges and sellers wouldn't take paypal (because reversals), so you had to use sketchy online pay services. Too much effort/risk.
You know what the reality is though? As soon as those coins were worth $500, $1000, definitely by $5000, I would have sold them all. Really any sane person would have.
When bitcoin was really cheap, purchasing was sketchy. And, as you say, any sane person would have dumped--and hopefully not been ripped off--as soon as the price climbed to a material level. It's not like you could just log onto your Fidelity account and buy and sell bitcoin. I know someone that, as I recall, their initial bitcoin purchase was almost like an in-person drug deal sort of thing.
Some AAPL bets were pretty good ones. BTC seems more like a real gamble. Though obviously back in self-mining days even if it seems not much different from SETI at Home. And your hard disk would probably have crashed at some point. Or you would probably have been ripped off.
Money you almost made hurts equally as much as money you had and then lost. (That's Munger. In my opinion big money you almost made hurts more than big money lost.)
Apple wasn't doing so great in 2000. Its "PC" market share was ~2%. Jobs had just come back a few years earlier and MS made a large investment, but neither the iPod nor OS X had come out yet, so it was quite a turnaround story.
In the earlyish 2000s, Apple started to look interesting as a consumer electronics company even if it wasn't clear they were committed to it. And the whole mobile trend wasn't obvious to a lot of us at that point.
I talked to them as an analyst in that era and they were still spending attention on enterprisey products like Xserve.
And even the initial iPhone in 2007 wasn't clearly a game-changer. It was the 3GS that really made a lot of people take notice.
this is a common misconception, which I think arises from the ideas of index investing. one must remember that while the index itself increases over time, many of the names on the index in eg the year 2000 simply don't exist anymore; consider companies like Kodak Eastman
if you held all of the energy drink companies including a placement into monster for 25+ years you would indeed make money on the 1-2 winners and end up net ahead.
But if you missed monster, you could very easily have just bought a basket of dog companies that all completely fail and the money is gone
I agree that it can be fun. I also devised a retirement plan as a graduate student, figuring out what sum of money I would need to live the rest of my life living the graduate student lifestyle without the hassle of being enrolled. Less than a decade after finishing my PhD I was able to walk away from my career into that lifestyle. Certainly not for everyone, but if it floats your boat, it is certainly an achievable plan.
Guess my question is did you have any plans what to do with that freedom? Or did the vision just stop with freedom?
Must be I was less ambitious than you. I too started out with goal of tenure and financial independence. 3 years in on tenure track I figured it was easier just to get financial independence and give myself tenure than to play someone's game.
One I reached financial independence (probably a much lower threshold than your), I didn't have any trouble find trouble finding things to fill my days with fulfilling activities that I had long put off. Always fun stuff to learn.
So interested to learn if it was that you still had something you felt you had to prove? Just plan inertia?
Can really put my finger on it, but what if in "I am (not) a failure" essay in addition "Lesson Learned" for each attempt, you had a "Joy Experienced" (perhaps too corny) section as well.
> did you have any plans what to do with that freedom?
Yes. I was going to solve really hard problems without any pointy-haired bosses standing in my way. I was specifically going to solve AI.
> So interested to learn if it was that you still had something you felt you had to prove?
It started out that way, but now I've ended up feeling like I gave it my best shot, and so I failed because I discovered my own limitations rather than any external circumstances (with the notable exception of Smart Charter). And I'm OK with that.
> what if ... you had a "Joy Experienced" (perhaps too corny) section as well.
What I find has given me the biggest dopamine rush over the years is getting something to work, especially after beating on it for a long time. And that includes small wins like fixing a bug in personal code that no one is ever going to see, or fixing something around the house, or getting something I've written on the front page of HN and seeing it well-received. The best way I can think of to characterize it is that I like to feel useful. I don't think I'm alone in that.
https://www.amazon.com/dp/B0FFZY9V8V/
"What these retirees were describing wasn’t just disappointment in a lack of opportunities. It was an erosion in something far more fundamental—their sense of mattering, the deep human need to feel valued and to have a chance to add value to the world. We plan for our wealthspan and healthspan, mapping out financial security and physical well-being. Yet very few of us prepare for an equally essential dimension of retirement: our mattering span, or how we will continue to feel seen, useful and capable of making a difference in this next chapter of life."
https://www.wsj.com/health/wellness/the-retirement-crisis-no...