WEBVTT - The Mark Moss Show 2-21-24 0:00:00.360 --> 0:00:03.320 The price of bitcoin is surging, it is on its 0:00:03.400 --> 0:00:07.119 way rapidly to scale to new all time highs. But meanwhile, 0:00:07.520 --> 0:00:10.200 one of the largest assets in the world is bleeding. 0:00:10.720 --> 0:00:13.480 Are we witnessing a changing of the guard. 0:00:13.840 --> 0:00:14.760 We're going to dig into that. 0:00:14.840 --> 0:00:16.520 We're going to look at the trends, We're going to 0:00:16.520 --> 0:00:18.520 look at the data, and we'll discuss whether that is 0:00:18.560 --> 0:00:21.119 going to move. We're also going to look at a 0:00:21.200 --> 0:00:23.119 lot of other things. If you're just tuning in to 0:00:23.200 --> 0:00:24.960 the Mark Law Show, we're always looking at the way 0:00:25.000 --> 0:00:26.880 the world is changing as we look at it through 0:00:26.880 --> 0:00:31.680 a lens of politics, finance, and technology. I believe that 0:00:31.720 --> 0:00:33.599 we can get a different perspective on the world when 0:00:33.640 --> 0:00:36.040 we look at it from those three lenses, and specifically 0:00:36.120 --> 0:00:38.879 the convergence of those three, and bitcoin really sits at 0:00:38.920 --> 0:00:43.040 the convergence of those three. It's groundbreaking revolutionary technology. Most 0:00:43.040 --> 0:00:46.120 people don't understand exactly what it is. They don't understand 0:00:46.159 --> 0:00:50.360 that it's actually a technological invention, a technological revolution that's 0:00:50.400 --> 0:00:53.760 happening here. It's not just some new computer code or 0:00:53.800 --> 0:00:56.720 some new database. So we have a technological revolution happening 0:00:56.760 --> 0:01:00.360 at the same time. It's disrupting money or finance says, 0:01:00.360 --> 0:01:03.240 we know it, and unfortunately, because finance is so political, 0:01:03.320 --> 0:01:07.240 it's disrupting the politics and the governments as we know 0:01:07.280 --> 0:01:09.800 it as well. But for now, the price of bitcoin 0:01:09.920 --> 0:01:14.679 is surging. We have breached fifty thousand dollars. I think 0:01:14.680 --> 0:01:18.120 we've breached fifty two thousand dollars. We're shy of the 0:01:18.200 --> 0:01:20.600 all time high that was set back in November of 0:01:20.600 --> 0:01:24.920 twenty twenty one, that was at was at sixty nine thousand, 0:01:25.480 --> 0:01:27.800 but we're not that far away. As a matter of fact, 0:01:27.840 --> 0:01:31.960 we are about thirty percent away, which if you're talking 0:01:31.959 --> 0:01:35.880 about you know, traditional stocks, that's pretty far. But just 0:01:35.959 --> 0:01:43.600 from let's see, from January of this year. I didn't 0:01:43.600 --> 0:01:46.160 pull this up, but from January of this year, I mean, 0:01:46.200 --> 0:01:49.360 we're already up thirty percent, So we've already made that 0:01:49.480 --> 0:01:52.200 much ground up in just a little over a month. 0:01:52.360 --> 0:01:54.360 So we could potentially make that ground up in another 0:01:54.400 --> 0:01:56.600 month from now. That's how the price of bitcoin moves, 0:01:56.600 --> 0:01:59.720 and partly it's been driven by the ETFs. I've talked 0:01:59.720 --> 0:02:01.920 about this quite a bit. We launched all these new 0:02:01.960 --> 0:02:04.720 bitcoin ETFs, and the amount of bitcoin they are taking 0:02:04.720 --> 0:02:07.680 off the market is just unbelievable, and of course supplying 0:02:07.720 --> 0:02:11.480 demand is driving the market. Now, what I'm talking about 0:02:11.520 --> 0:02:14.400 at the intro was that one of the oldest assets 0:02:14.440 --> 0:02:17.320 are not one of probably the oldest financial asset in 0:02:17.360 --> 0:02:19.200 the world has been money for five thousand years. 0:02:19.240 --> 0:02:20.280 I'm talking about. 0:02:20.040 --> 0:02:24.320 Gold is seemingly bleeding. And what am I talking about, Well, 0:02:24.760 --> 0:02:27.160 gold is still under massive demand. The price of gold 0:02:27.200 --> 0:02:29.760 and silver have done very well, and we know that 0:02:29.800 --> 0:02:31.840 central banks are buying more gold than any time in. 0:02:31.880 --> 0:02:33.880 History over the last several years. 0:02:34.560 --> 0:02:37.359 However, a lot of Americans and just people around the 0:02:37.360 --> 0:02:40.800 world in general own gold, not physically in their own control, 0:02:40.880 --> 0:02:43.280 in their sock drawer or in their safe or buried 0:02:43.320 --> 0:02:46.320 in the ground in the backyard, but through ETFs exchange 0:02:46.360 --> 0:02:49.960 traded funds, and so there's many gold ETFs that have 0:02:50.000 --> 0:02:52.480 popped up, GLD being the biggest one of them, and 0:02:52.520 --> 0:02:56.519 their assets under management, how much money they manages, has 0:02:56.600 --> 0:02:59.919 been going down. So what we're seeing in real time 0:03:00.240 --> 0:03:03.200 is the price of bitcoin is going through the roof, 0:03:03.320 --> 0:03:06.400 partly because of the amount of money that's flowing into it, 0:03:06.520 --> 0:03:09.839 and at the exact same time, money is coming out 0:03:09.880 --> 0:03:12.240 of gold. Now, gold has been the store of value. 0:03:12.280 --> 0:03:14.880 It's a place that you park your wealth to store 0:03:14.919 --> 0:03:17.480 it for future generations. And a lot of people say 0:03:17.480 --> 0:03:20.200 that bitcoin is the new store of value. People say, well, 0:03:20.240 --> 0:03:23.000 it'll never be a medium of exchange. It is a 0:03:23.000 --> 0:03:25.240 good store of value. It'll never be a medium exchange, 0:03:25.240 --> 0:03:26.400 and we can talk about that. 0:03:26.720 --> 0:03:27.560 It can eventually. 0:03:27.919 --> 0:03:30.040 But if it's already a store of value, then we 0:03:30.080 --> 0:03:34.320 can compare against other store of value assets. So bitcoin 0:03:34.400 --> 0:03:37.640 is a store of value. Asset bonds are store of 0:03:37.760 --> 0:03:40.440 value assets. A lot of real estate obviously not my 0:03:40.480 --> 0:03:43.200 personal residents, but even some of that, but a lot 0:03:43.200 --> 0:03:44.960 of real estate is a store of valus. I mean, 0:03:45.080 --> 0:03:47.320 I store my wealth in these places. I think of 0:03:47.320 --> 0:03:50.000 them as savings and not as investments. A lot of 0:03:50.000 --> 0:03:51.920 stocks are like that, although a lot of stocks are 0:03:51.920 --> 0:03:54.920 for trading and more speculative purposes. And what we can 0:03:54.960 --> 0:03:58.200 see though, is that gold is attacking the I'm sorry, 0:03:58.200 --> 0:04:00.800 Bitcoin is attacking the gold store of value, and it 0:04:00.880 --> 0:04:03.040 is quickly catching up. As a matter of fact, bitcoin 0:04:03.160 --> 0:04:07.720 just surpassed a one trillion dollars in a total asset 0:04:07.800 --> 0:04:10.680 size and it's it's currently picking up. 0:04:10.720 --> 0:04:10.880 Now. 0:04:10.920 --> 0:04:12.800 What we can see is that, like I said, gold 0:04:12.960 --> 0:04:16.359 is bleeding. As a matter of fact, we have the 0:04:16.640 --> 0:04:20.520 spd R gold Shares has a year to date flow 0:04:20.760 --> 0:04:26.239 negative twenty five almost twenty five hundred shares I shares, 0:04:26.279 --> 0:04:28.800 gold Trust is down. I Shares gold Trust, Micro's down, 0:04:28.880 --> 0:04:30.240 Vannat gold Miners down. 0:04:30.520 --> 0:04:31.320 They're all down. 0:04:31.360 --> 0:04:34.720 But at the same time, we have funds flowing into 0:04:34.760 --> 0:04:39.159 Bitcoin Trust. We have I shares, Bitcoin Trust is up. 0:04:39.600 --> 0:04:42.440 All the ETF funds are up, and they're buying an 0:04:42.440 --> 0:04:45.359 incredible amount of bitcoin. As a matter of fact, currently 0:04:45.400 --> 0:04:49.479 the ETF inflows are leading to a two percent increase 0:04:49.760 --> 0:04:51.039 in the price per. 0:04:50.960 --> 0:04:51.599 Day of bitcoins. 0:04:51.600 --> 0:04:55.520 It's adding about one thousand dollars per day to the 0:04:55.520 --> 0:04:58.760 price of bitcoin, and that's being done because of the 0:04:58.800 --> 0:05:01.680 supply and demand. The et are taking so much bitcoin 0:05:01.720 --> 0:05:04.720 off the market right now. The inflows, the amount of 0:05:04.800 --> 0:05:07.920 money and bitcoin coming into these funds is about ten 0:05:08.000 --> 0:05:12.880 to twelve times higher than the new bitcoin being created. Now. 0:05:12.880 --> 0:05:14.719 Some people might argue this is a little bit simplistic, 0:05:14.760 --> 0:05:17.279 but I like to understand things from a simplistic level, 0:05:17.279 --> 0:05:21.080 and that is supply and demand. When there's more demand, 0:05:21.720 --> 0:05:24.080 then there is supply, prices go up. Now, there's lots 0:05:24.080 --> 0:05:27.040 of things that would affect both the supply and the demand. 0:05:27.320 --> 0:05:29.520 But it does get down that simple. And what we 0:05:29.640 --> 0:05:32.880 know is that there is new bitcoin being created every day. 0:05:33.040 --> 0:05:35.599 Every block, every ten minutes, there's a block, and in 0:05:35.680 --> 0:05:39.679 every block there's bitcoin that get released, and that equates 0:05:39.720 --> 0:05:45.279 to nine hundred per day. But that's the new bitcoin 0:05:45.320 --> 0:05:48.640 being created. Now, there's obviously existing bitcoin. There's nineteen million 0:05:48.680 --> 0:05:51.160 bitcoin or twenty million bitcoin roughly that there will never 0:05:51.200 --> 0:05:53.000 be more than twenty one million, but right now there's 0:05:53.040 --> 0:05:56.680 about nineteen ish twenty million ish floating around, but most 0:05:56.760 --> 0:05:58.640 of that is locked up in long term storage. Now 0:05:58.720 --> 0:06:00.160 it could come off the market and be so hold 0:06:00.160 --> 0:06:02.560 at a certain price. Sure, so that could be recirculated. 0:06:03.000 --> 0:06:06.039 But like any new asset, like oil, like a commodity, 0:06:06.279 --> 0:06:08.840 a commodity aset like oil or like gold, there's new 0:06:08.920 --> 0:06:13.279 supply what we call flow, being added to the existing stock. 0:06:13.320 --> 0:06:16.359 It's a stock to flow ratio, all right. So we 0:06:16.400 --> 0:06:19.680 can see the amount of new stock or sorry, the 0:06:19.720 --> 0:06:22.279 new flow of oil, the new flow of gold. We 0:06:22.279 --> 0:06:24.520 can see the new flow of bitcoin. And what we 0:06:24.560 --> 0:06:26.400 can see is that it is about nine hundred bitcoin 0:06:26.400 --> 0:06:29.880 per day being added. But the ETFs are buying about 0:06:30.000 --> 0:06:33.360 nine to ten thousand per day, so ten to twelve 0:06:33.520 --> 0:06:37.920 times the demand of the newly created supply. All right, 0:06:37.960 --> 0:06:40.720 and so this starts to lead to fomo. Now what 0:06:40.720 --> 0:06:43.599 do I mean by that? This is it's like a 0:06:43.640 --> 0:06:47.679 self fulfilling prophecy, if you will. As bitcoin goes up faster, 0:06:48.160 --> 0:06:50.200 more people hear about it and want to get in. 0:06:50.200 --> 0:06:51.080 I don't want to be left behind. 0:06:51.080 --> 0:06:53.320 I'm going to buy some more, which then pushes the 0:06:53.320 --> 0:06:55.680 price up higher, which then means more people hear about 0:06:55.720 --> 0:06:57.520 it and they want to get in, which then pushes 0:06:57.560 --> 0:06:59.559 the price up people even higher, and then it starts 0:06:59.560 --> 0:07:01.840 happening in the ETFs, in the financial space. So what 0:07:01.880 --> 0:07:05.000 happens is then this financial advisor that puts in his 0:07:05.040 --> 0:07:07.880 portfolio starts out performing everybody else, So everybody else says, 0:07:07.880 --> 0:07:10.400 we'll shoot. Then I should put it into my portfolio. 0:07:10.680 --> 0:07:12.360 And then they start out performing, and then well I 0:07:12.400 --> 0:07:14.400 need to keep up, so I'll put it in. And 0:07:14.440 --> 0:07:16.280 then as they put it in, the price goes up, 0:07:16.360 --> 0:07:18.240 and then more people jump in and the price goes up, 0:07:18.280 --> 0:07:22.640 and it starts to be this self perpetuating, self fulfillient cycle, 0:07:22.680 --> 0:07:25.600 if you will. Then we add in some events such 0:07:25.680 --> 0:07:27.720 as in the next couple of months, we have the 0:07:27.760 --> 0:07:30.240 supply will be cut in half from nine hundred bitcoin 0:07:30.280 --> 0:07:34.000 per day to four hundred and fifty new coins per day, which, 0:07:34.120 --> 0:07:36.520 all things being the same, if the demand stays the same, 0:07:37.040 --> 0:07:40.280 what happens and you cut the supply in half? What 0:07:40.440 --> 0:07:44.920 happens to the price? You don't have to guess. 0:07:45.080 --> 0:07:45.960 So what does that mean? 0:07:46.000 --> 0:07:49.200 Well, we know that that puts upward pressure on the price. 0:07:49.240 --> 0:07:51.280 That's exactly what we're seeing. Where could it go? Well, 0:07:51.280 --> 0:07:53.880 we know the previous high was sixty nine thousand, and 0:07:54.200 --> 0:07:57.920 typically you'll take out the previous high, but maybe that 0:07:57.960 --> 0:07:59.920 could happen before the happening in the next ninety days 0:07:59.960 --> 0:08:03.160 or so. Could we get to one hundred thousand in 0:08:03.160 --> 0:08:05.280 the next couple of months. Maybe we don't really know 0:08:05.360 --> 0:08:07.200 where it can go. I don't have a crystal ball. 0:08:07.240 --> 0:08:09.880 I wish I could tell you, But we know that 0:08:10.120 --> 0:08:13.480 it's going up now. Part of the reason why it's 0:08:13.520 --> 0:08:15.800 going up is because of the supply demand in balance 0:08:15.800 --> 0:08:19.200 that I'm talking about. The other metric, the other thing 0:08:19.240 --> 0:08:22.000 that we're watching is also the demand coming from the 0:08:23.080 --> 0:08:24.960 use case of it. And so what do I mean 0:08:25.000 --> 0:08:27.760 by that? There's a lot of problems and solutions are 0:08:27.800 --> 0:08:30.600 supposed to come to problems. A lot of people may argue, 0:08:31.480 --> 0:08:34.400 not intelligently, but that bitcoin doesn't have any use cases. 0:08:34.400 --> 0:08:35.840 But it does. It has lots of use cases. 0:08:35.960 --> 0:08:37.280 It gives me a way to store my wealth in 0:08:37.280 --> 0:08:39.360 a way that can't be debased and printed. So when 0:08:39.360 --> 0:08:42.080 they're printing endless amounts of money, I want something. So 0:08:42.120 --> 0:08:44.040 every time they print more money, it sort of like 0:08:44.160 --> 0:08:46.360 creates the poster child or the use case of. 0:08:46.280 --> 0:08:47.280 Why I should own bitcoin. 0:08:47.559 --> 0:08:50.200 Every time a government tries to become more authoritarian and 0:08:50.480 --> 0:08:52.679 censor one of my transactions, tell me what I can 0:08:52.760 --> 0:08:54.760 and can't spend money on, it sort of makes me 0:08:54.800 --> 0:08:57.920 want to find an alternative like bitcoin that's censorship resistant. 0:08:57.920 --> 0:09:00.360 And so while we have this supply demand metrich that's 0:09:00.400 --> 0:09:03.520 being driven by what we call NNGU or number go 0:09:03.840 --> 0:09:06.880 up technology. We say that in a joking way, at 0:09:06.920 --> 0:09:09.559 the end of the day, there's real utility that will 0:09:09.600 --> 0:09:12.360 start catching up, that is catching up as governments continue 0:09:12.360 --> 0:09:15.240 to print more money, as governments continue to get more authoritarian. 0:09:16.080 --> 0:09:18.320 And it's all happening right at the time. The government's 0:09:18.320 --> 0:09:21.240 about to print money, and we're going into a having cycle. 0:09:21.640 --> 0:09:22.600 You better buckle up. 0:09:22.760 --> 0:09:24.080 If you're just tune in, you're listening to the Mark 0:09:24.120 --> 0:09:26.240 Maas Show running through some of the latest breaking news 0:09:26.960 --> 0:09:28.559 this week as we look at the world through the 0:09:28.640 --> 0:09:30.960 lens of politics, finance, and technology. I'll be back with 0:09:31.000 --> 0:09:32.120 more in a minute. You don't want to miss it, 0:09:32.120 --> 0:09:34.200 don't go away, I'll wear back, all. 0:09:34.160 --> 0:09:34.640 Right, Welcome back. 0:09:34.679 --> 0:09:36.280 If you just tune in, you're listening to the Mark 0:09:36.360 --> 0:09:39.439 Maas Show, and we're going to talk about something a 0:09:39.520 --> 0:09:42.360 little bit different than I normally talk about because it's 0:09:42.400 --> 0:09:44.200 something that I've been getting over and over and over 0:09:44.320 --> 0:09:47.679 across my social media platforms of people asking me these 0:09:47.720 --> 0:09:50.600 types of questions. And we typically talk about the world 0:09:50.640 --> 0:09:53.360 through the lens of politics, finance, and technology and trying 0:09:53.360 --> 0:09:56.480 to understand the world from this frame of lens. And 0:09:56.559 --> 0:10:00.160 for me specifically, it's so that I can improve my life. 0:10:00.280 --> 0:10:04.080 I can further myself towards my goals that I have 0:10:04.160 --> 0:10:06.400 for myself and for my family and so forth. And 0:10:06.440 --> 0:10:10.840 so I want to understand what's going on with the politicians, 0:10:10.880 --> 0:10:12.839 and what's going on with the financial system, and what's 0:10:12.840 --> 0:10:15.640 going on with new technology breakthroughs, so I can use 0:10:15.720 --> 0:10:19.959 those things to front run the moves ultimately again, so 0:10:20.040 --> 0:10:22.720 I can further the quality of my life, so I 0:10:22.720 --> 0:10:25.440 can further my life, so I can have success in 0:10:25.480 --> 0:10:28.720 my life. And I've been talking about these subjects specifically 0:10:28.720 --> 0:10:31.360 a lot more recently, smaller short form content on my 0:10:31.440 --> 0:10:33.360 social media, which if you're not following me, hit me 0:10:33.440 --> 0:10:36.120 up at one Mark Moss. Just go to my website 0:10:36.120 --> 0:10:38.719 one Markmoss dot com. One Markmoss dot com. It's that's 0:10:38.760 --> 0:10:41.240 the number one. I have everything linked there. But I've 0:10:41.240 --> 0:10:44.080 been putting a lot of content on Instagram lately, doing 0:10:44.360 --> 0:10:46.760 daily lives over there every day in the morning. Hit 0:10:46.800 --> 0:10:49.000 me up on those. It's just at Mark Moss there. 0:10:50.240 --> 0:10:51.719 And I've been getting lot of questions as we talk 0:10:51.760 --> 0:10:53.719 about navigating what's going on with the FED sort of 0:10:53.760 --> 0:10:55.440 the daily play by play off, what are they doing 0:10:55.480 --> 0:10:57.480 with the with the interest rates, and what's going on 0:10:57.520 --> 0:10:59.880 with the with the credit card cycles and the money 0:11:00.080 --> 0:11:02.240 bank and all these different things. How can we navigate 0:11:02.280 --> 0:11:04.320 all this? And the one thing that kind of keeps 0:11:04.320 --> 0:11:08.000 coming up over and over and over is how can 0:11:08.040 --> 0:11:11.200 we have more success by using these tools? And I 0:11:11.200 --> 0:11:13.480 started thinking about this as I've been answering these people 0:11:13.480 --> 0:11:16.720 and a couple things came up, and there's five things 0:11:16.760 --> 0:11:19.880 that I want to run you through, and it's how 0:11:19.880 --> 0:11:21.720 we can have more success, how we can improve their 0:11:21.800 --> 0:11:23.800 quality of lives. But we have to understand first of all, 0:11:24.080 --> 0:11:27.280 that success isn't guaranteed. There's no guarantee of success. Some 0:11:27.320 --> 0:11:31.280 people have success, some people don't, and oftentimes the difference 0:11:31.280 --> 0:11:33.199 of those who have success in those who don't it's 0:11:33.360 --> 0:11:38.800 very small, it's very minimal, but we know it's not guaranteed. Now, 0:11:38.840 --> 0:11:41.559 I like to say that success doesn't care. Success doesn't 0:11:41.559 --> 0:11:45.600 care about anything except for one thing. There's one thing 0:11:45.760 --> 0:11:49.800 success cares about. Success doesn't care how old you are. 0:11:50.040 --> 0:11:52.040 Doesn't care if you're at the end of your career, 0:11:52.160 --> 0:11:54.320 sixty or seventy. It doesn't care if you're too young 0:11:54.440 --> 0:11:56.440 or eighteen or nineteen. Success does it doesn't care if 0:11:56.440 --> 0:11:57.160 you're fifteen or sixty. 0:11:57.160 --> 0:11:57.640 It doesn't care. 0:11:58.120 --> 0:12:02.720 Success doesn't care if you're tired or if you're hungry. 0:12:03.040 --> 0:12:06.240 Success doesn't care if you're stressed out. Success doesn't care 0:12:06.280 --> 0:12:09.640 if you're depressed. Doesn't care about any of that. Success 0:12:09.679 --> 0:12:12.000 doesn't care if your dog died, if your girlfriend broke 0:12:12.040 --> 0:12:13.800 up with you, if your car broke down. Sess doesn't 0:12:13.800 --> 0:12:17.320 care about any of that. Success is ruthless. Success cares 0:12:17.360 --> 0:12:23.040 about one thing. The one thing is results. That's all 0:12:23.360 --> 0:12:26.120 do the work. Did you do the work to achieve 0:12:26.160 --> 0:12:29.120 the results, and that's its Success is a meritocracy. If 0:12:29.160 --> 0:12:31.320 I did the work, I get the results and that's it. 0:12:32.320 --> 0:12:35.120 So regardless of if you're depressed, if you're hungry, if 0:12:35.120 --> 0:12:37.040 you're tired, or if your dog died or your girlfriend 0:12:37.040 --> 0:12:39.360 broke up with you, regardless of any of that, or 0:12:39.360 --> 0:12:41.840 how old you are, if you do the work. 0:12:42.559 --> 0:12:44.240 Then you should be able to get the outcome. 0:12:45.000 --> 0:12:47.360 And so we'll break down five things that I want 0:12:47.400 --> 0:12:51.080 to talk about specifically in order to guarantee that you 0:12:51.080 --> 0:12:53.360 can do this. The one thing guarantee this, and so 0:12:53.720 --> 0:12:55.679 I'm going to break these down. The first one is 0:12:56.200 --> 0:12:58.079 doing the work right, so already talked about that, and 0:12:58.400 --> 0:13:00.920 really ultimately what it comes down to is the commitment 0:13:01.400 --> 0:13:04.120 to doing the work, a commitment to trying to do 0:13:04.160 --> 0:13:08.880 the work, because again, success isn't guaranteed, but the guaranteed 0:13:09.160 --> 0:13:14.800 lies in the outcome of not trying. So a lot 0:13:14.840 --> 0:13:16.040 of times what we want to do is we want 0:13:16.040 --> 0:13:20.040 to do like inversion thinking, what's the opposite. Typically, when 0:13:20.080 --> 0:13:22.280 I want to set a goal, I think about what 0:13:22.320 --> 0:13:24.880 are all the things I have to do in order 0:13:24.920 --> 0:13:26.960 to achieve the goal. Another way to think about it 0:13:27.000 --> 0:13:28.760 is what are all the things I'm going to have 0:13:28.840 --> 0:13:32.959 to give up to achieve the goal. That's an inversion thinking, 0:13:33.280 --> 0:13:35.360 And so we can also think about success sort of 0:13:35.400 --> 0:13:38.559 the same way. Success is not guaranteed, So should I try? 0:13:38.679 --> 0:13:41.240 What if I fail? But what we do know is 0:13:41.280 --> 0:13:46.280 there is a guarantee in not trying at all. So 0:13:46.400 --> 0:13:52.880 if I'm faced with either one guaranteed failure or maybe success, 0:13:53.280 --> 0:13:57.320 why not take them maybe success. So that's the first 0:13:57.320 --> 0:13:59.640 thing we always have to commit to trying. Now, a 0:13:59.640 --> 0:14:01.280 lot of people and this is a question I've been 0:14:01.280 --> 0:14:03.360 asked a couple of times this week on my Instagram 0:14:03.360 --> 0:14:05.400 live streams again at Mark Moss hit me up. There 0:14:05.600 --> 0:14:07.280 have been asked about Mark, but how do you deal 0:14:07.320 --> 0:14:11.360 with analysis paralysis? I'm not sure what I should be doing. 0:14:12.040 --> 0:14:15.400 I'm afraid I may fail. I'm afraid that I don't 0:14:15.400 --> 0:14:18.360 take the right action. I'm afraid that, you know, this 0:14:18.440 --> 0:14:20.280 might not take me to my goal. And so this 0:14:20.320 --> 0:14:21.720 is a big piece of it. So I need to 0:14:21.720 --> 0:14:23.880 be committed to action. I have to be committed to 0:14:24.040 --> 0:14:28.040 trying to advance myself towards success. But if I'm stuckond 0:14:28.080 --> 0:14:31.400 this analysis prolysis, what do I do? And I'd say, 0:14:31.640 --> 0:14:34.480 one understanding that if I don't do anything, I'm guaranteed failure, 0:14:34.520 --> 0:14:37.600 so why not take the chance of failure? But another 0:14:37.640 --> 0:14:40.440 part comes in where people can't decide which course of 0:14:40.520 --> 0:14:41.320 action to take. 0:14:41.800 --> 0:14:43.479 I don't know. I have these three opportunities. 0:14:43.560 --> 0:14:47.200 Should I go, you know, should I go into doing 0:14:47.280 --> 0:14:50.400 rental real estate? Or should I start selling products on eBay? 0:14:50.840 --> 0:14:53.920 Or should I do drop Chip e commerce? Or should 0:14:53.920 --> 0:14:57.280 I start a social media market agency? Like any of 0:14:57.320 --> 0:14:58.040 those could be good? 0:14:58.520 --> 0:15:00.000 But which one do I choose? Which one do I choo? 0:15:00.240 --> 0:15:02.440 I'm stuck, I'm analysis prowess, I'm analyzing. 0:15:02.080 --> 0:15:02.680 Him too deeply. 0:15:02.960 --> 0:15:05.000 Well, part of that is that I like to say 0:15:05.040 --> 0:15:08.960 that action leads to clarity. You see, you're never going 0:15:09.040 --> 0:15:11.600 to know until you start taking action. I use this 0:15:11.640 --> 0:15:13.560 analogy quite a bit. If I was walking through the 0:15:13.560 --> 0:15:15.240 forest and I came to a fork in the road 0:15:15.280 --> 0:15:17.560 and there was two paths, and I'm like, oh, what 0:15:16.960 --> 0:15:18.280 was it left or right? 0:15:18.360 --> 0:15:19.880 Left or right? I forget left or right. 0:15:20.080 --> 0:15:22.200 I could be there till all of eternity, thinking left 0:15:22.240 --> 0:15:24.800 or right and still not know the answer. The only 0:15:24.840 --> 0:15:26.440 way I'm ever going to know is I'm going to 0:15:26.520 --> 0:15:29.920 start down one path, and after I start walking down 0:15:29.920 --> 0:15:33.200 the path, that action will lead to clarity. Oh shoot, 0:15:33.200 --> 0:15:34.840 this isn't the right one. I don't remember, this is 0:15:34.920 --> 0:15:36.240 the wrong one. I need to go to the other path, 0:15:36.560 --> 0:15:38.120 or this is the right one, and I keep going. 0:15:38.320 --> 0:15:41.080 But it was only by taking action did I get 0:15:41.120 --> 0:15:43.480 clarity towards that. And so a lot of us are 0:15:43.480 --> 0:15:45.840 stuck with this analysis prowess as and the goal or 0:15:45.880 --> 0:15:48.280 the key is that we must be taking action if 0:15:48.280 --> 0:15:51.080 we want to get the clarity of how to move forward. 0:15:51.840 --> 0:15:54.440 The action is what will lead to that clarity. Now 0:15:54.560 --> 0:15:57.800 also part of it Alex HERMOSI, if you're not following him, 0:15:57.800 --> 0:16:00.400 you should. He's definitely worth a follow. I saw tweet 0:16:00.400 --> 0:16:04.680 out this week. He said that people don't find their passion, 0:16:05.360 --> 0:16:07.400 they build it. And I find a lot of people 0:16:07.400 --> 0:16:09.880 that I've coached, younger people specifically, they all think they 0:16:09.960 --> 0:16:11.640 have to go find their passion. But there is no 0:16:11.800 --> 0:16:15.760 finding your passion. What it is is defining and optimizing 0:16:15.760 --> 0:16:17.840 your passion over time, because you have a passion for 0:16:18.040 --> 0:16:20.320 skills that you've been able to build up and develop. 0:16:21.760 --> 0:16:25.320 I love surfing. I have a passion for surfing. But 0:16:25.360 --> 0:16:27.560 I've only got the passion for surfing because I've been surfing. 0:16:27.640 --> 0:16:29.200 I had to start surfing before, and then I had 0:16:29.200 --> 0:16:31.480 to get good at surfing before I developed a passion 0:16:31.480 --> 0:16:33.720 for surfing. Most people try it one time and they 0:16:33.720 --> 0:16:35.400 hate it. It's like the hardest work that you know whatever. 0:16:35.560 --> 0:16:37.120 And so it's like you have to try things, you 0:16:37.120 --> 0:16:39.200 have to do things. You have to achieve some level 0:16:39.240 --> 0:16:41.400 of success and build some skill doing those things, and 0:16:41.440 --> 0:16:44.040 then you get the passion for it. And so like 0:16:44.040 --> 0:16:48.680 I use this analogy, let's say that I got it. 0:16:48.760 --> 0:16:52.600 I see my friend has a catering business. Let me 0:16:52.600 --> 0:16:54.680 start working with you. And I find out when I'm 0:16:54.680 --> 0:16:58.960 working at the catering business, man, I really don't like 0:16:59.000 --> 0:17:00.880 the cooking part at all, but like setting up the 0:17:00.920 --> 0:17:03.160 events and stuff was pretty fun. So I decided, you 0:17:03.160 --> 0:17:05.240 know what, let me move over, Let me change. 0:17:05.000 --> 0:17:05.399 What I'm doing. 0:17:05.400 --> 0:17:07.560 I want to start running events more. And then I 0:17:07.560 --> 0:17:10.400 start doing more events less cooking, and then I start like, man, 0:17:10.480 --> 0:17:12.919 I really hate like loading in all the chairs and 0:17:12.920 --> 0:17:15.440 tables and setting up. What I really liked is more 0:17:15.520 --> 0:17:17.640 designing the events. And then I sort of move over 0:17:17.640 --> 0:17:19.840 into more of designing, and then I figured, well, it's 0:17:19.880 --> 0:17:21.560 not just the designing part, it's actually like dealing with 0:17:21.560 --> 0:17:23.200 the customers. And then I move more to like sales 0:17:23.240 --> 0:17:27.399 and marketing on that, and over time, by learning what 0:17:27.440 --> 0:17:29.000 I do like and don't like, I do more of 0:17:29.000 --> 0:17:30.439 what I do like and less of what I don't like, 0:17:30.480 --> 0:17:32.600 and I can develop and I can start to find 0:17:32.640 --> 0:17:33.760 that passion through there. 0:17:34.119 --> 0:17:35.400 All right, that's one. 0:17:35.600 --> 0:17:37.920 There's a three more pieces that I want to hit 0:17:38.240 --> 0:17:42.119 that can help you guarantee success. Now we know, like 0:17:42.160 --> 0:17:46.240 I said, success isn't always guaranteed, but the opposite of that, 0:17:47.200 --> 0:17:50.640 failure is guaranteed. Right if you do nothing, it's guaranteed. 0:17:50.640 --> 0:17:51.920 And like I said, this is a response to a 0:17:51.920 --> 0:17:53.639 bunch of questions that I've had. It's a little bit 0:17:53.640 --> 0:17:55.439 off topic for what I normally talk about, but I 0:17:55.440 --> 0:17:56.840 wanted to bring this to you today because I think 0:17:56.840 --> 0:17:59.879 it's massive value for you as we discern through all 0:17:59.880 --> 0:18:03.560 the information on markets, technology and politics. If you're just 0:18:03.600 --> 0:18:05.320 tuning in staying to the Mark Moss Show, I'll be 0:18:05.320 --> 0:18:06.840 back with more after a very short break. 0:18:06.880 --> 0:18:08.800 You don't want to miss it, don't go away, I'll 0:18:08.800 --> 0:18:10.400 be right back. All right, welcome back. 0:18:10.400 --> 0:18:11.840 If you just tune in, you're listening to the Mark 0:18:11.840 --> 0:18:14.960 Mass Show, and we're talking about the only guarantee to 0:18:15.080 --> 0:18:18.439 success is that you won't achieve it if you do nothing. 0:18:19.080 --> 0:18:21.159 And so the key is is that the opposite is 0:18:21.160 --> 0:18:23.560