February 06 | Titan
A Captivating Chronicle of an American Legend
I just finished reading 'Titan' by Ron Chernow. It's a deep dive into the life of John D. Rockefeller, who ascended from modest beginnings to become one of the richest men in history through his control of Standard Oil, which dominated the oil industry in the late 19th and early 20th centuries.
It's quite a long read, but it's another masterpiece well worth your time if you're into history, especially in how it can inform contemporary investment strategies.
One fascinating anecdote from Rockefeller's life parallels the journey from crude oil to digital assets:
From Oil to Digital: In the mid-19th century, Rockefeller made his fortune by betting on oil when it was still considered a speculative commodity. He envisioned a future where oil would be central to industrial development, much like how we view digital assets today.
The Parallel Today: Bitcoin is often viewed as a speculative or niche investment. Echoing this sentiment, Michael Saylor has been aggressively accumulating Bitcoin for MicroStrategy, which has now rebranded to 'Strategy' (more on this rebranding soon). He sees this as akin to the world’s transition in the '90s when he founded his company.
The Analogy: In his younger days, Rockefeller would buy up oil fields and refineries during economic downturns, much like how savvy investors today buy Bitcoin during market dips. This is exactly what Michael Saylor did, transitioning from a software-as-a-service company that couldn't compete with giants like Microsoft to now leading as a major Bitcoin treasury company (and perhaps eventually becoming a Bitcoin bank in the foreseeable future).
The banks, on the other hand, wouldn't touch the oil industry due to its volatile nature. They stuck to the railroads and steel, which were the status quo at the time. Don't you see the similarity today? The likes of Warren Buffett stick to his banking and other traditional investments that worked for him in the past, but in today's fiat-manipulated world, these strategies no longer work for us, the younger generation.
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Here's the Rockefeller rundown for the modern hustler today: (yes, you and me)
Got vision? Bet on the next big thing, like oil was back in the day or Bitcoin might be now.
Efficiency? Own the whole damn supply chain, from the ground to the gas pump. When life throws a wrench in your plans, adapt faster than a chameleon at a paint store. And in today's world, that means buying as much as you can, whenever you can, stack, and HODL aggressively.
Dream big, control everything, adapt like a pro, keep ethics in check, and always share wealth.
Now, diving into 'The First Tycoon' on Vanderbilt—expect more wisdom bombs from studying the greats of the 1800s-1900s era. Cheers!
Thanks for wasting a perfectly good moment with me today!??????