TMT - Scene #7

Hello everyone! Welcome to this week's update: Scene #7

Stray?

What exactly is wealth and how do you build it? In the general world of philosophy, wealth is usually paired with happiness. There is a reason for this. History has shown us that there are lots of people in the world who are rich and miserable. Having money beyond a certain point is no more rewarding than having your 11th slice of pizza during a meal. It simply follows the law of diminishing returns. On the other hand, wealth is more of a process than just having cash or being rich. The process of creating wealth and security ethically and with integrity gives you purpose and happiness by itself in comparison to just having cash to spend.

In the past 3 years, the world has seen a phenomenal rise in “finfluencers” all over the internet primarily on platforms like YouTube and Instagram. These social media finance influencers do a good job of selling to their audience but don’t necessarily always have a lot of real experience in building businesses and wealth. They also have millions of followers, many of whom treat the advice they’re getting as gospel. These influencers talk about loopholes, and ways to save money and also give suggestions on how to make investments in the stock market, real estate, and other assets. A lot of the time, these influencers haven’t invested in those assets themselves.?

Remember that the way these influencers build their wealth is by giving out advice, not by following that advice themselves. A famous tweet by businessman Naval Ravikant says “Making money is not a thing you do, it's a skill you learn.” The reason it is pivotal to understand this idea today is that everyone thinks that getting involved in money-making schemes is going to help you build wealth. The reality is that none of those investments are going to work unless you learn the skill of making your money work. I like to take my financial advice from people who have spent time building businesses and making money doing things outside of telling people what to do with their money.?

“Understanding ethical wealth creation is possible. If you secretly despise wealth, it will elude you.”?

“You’re not going to get rich by renting out your time. You must own equity - a piece of a business - to gain your financial freedom.”?

“You will get rich by giving society what it wants but does not yet know how to get. At scale”?

???????????????????????????????????????????????????????????????????????????????????????- The Almanack of Naval Ravikant

Cardinal

Statistical mechanics is a mathematical framework within physics that was founded by Ludwig Boltzmann, James Clerk Maxwell, and Josiah Williard Gibbs. In today’s scene of Cardinal, we will briefly introduce this framework which is supported by probability theory. This framework has been developed from classical thermodynamics and explains as well as analyzes the temperature, pressure, and heat capacity. The statistical component probability theory explains how the arrangement of atoms and other microscopic entities tends to be characterized by probability distribution. In simpler terms, what this means is that microscopic entities that are influenced by thermodynamic factors often tend to conform to averages. Statistical mechanics has many applications in fields such as biology, chemistry, neuroscience, and more. The science behind it helps us understand what characterizes atomic motion and why it occurs the way it does.?

Have you ever thought about how our random actions sometimes end up resulting in very structured outcomes? You may not have intended to do those things with a specific goal in mind but all the courses of actions you took up until that point resulted in something more than you expected. Very much like the atoms that I mentioned earlier, we also revolve around averages and tend to conform to patterns. On the other hand, we have the advantage of breaking these patterns and creating new ones. I like to think of us humans as pattern breakers. To break a pattern, we must first conform to it, understand what external conditions lead to the occurrence of that pattern, and then try to replicate it in a way that is productive for us. I apologize if I lost you in that last sentence. What I mean to say is that like atoms, we all react to heat, stress, and other such influences that exist in our environment. Fortunately, unlike atoms,? we can gain awareness of what influences and disallow it from doing so if it is counterproductive for us.?

I hope this gives you something to reflect upon for the week and make the changes that you have been sitting on.?

Lexicon

Sagacious -? An adjective that describes good judgment and intuition.

Plisky - A noun that describes a practical joke

Winsome - An adjective that describes being attractive in some kind of innocent way

Pellucid - An adjective to describe absolute clarity

Rhythm

Ren - Hi Ren (Official Music Video)