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Non-Financial Forms of Capital
Manage episode 299591524 series 2963994
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01:55 - Get out of the world of money, and get into the world of capital. Pay it forward: money, experience, skills, etc.
02:38 - He called Eric "Peter", and Eric chose not to be offended. And we also hear the cars in front of Chris's house.
04:08 - Capital (and money) is intangible, and it was entirely based on relationships and reputation to be able to pay someone back. It's a promise.
05:50 - A lot of people think of money as the only thing that's real. Tying someone's worth to their money is a shithead world view.
09:18 - Converting non-monetary forms of capital requires a monetization path to realize the financial value.
11:35 - Example of Chris's actor friend. He decided to translate Homer's The Iliad and the show has been successful.
14:00 - Rule of 72. Can it apply to non-monetary forms of compound interest? Can you get twice as good with incremental improvements?
18:28 - One of the forms of order in the universe is that very small improvements, cumulatively, create capital.
19:17 - It's not all about money. It's about bettering yourself, and bettering the lives of those around you. Like your kids.
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