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00:00.00
Max Shank
Welcome back everybody to Monday morning with max and Mike Today we are going to talk about arguably the most important topic in your life because it is your life. It's about securing your future. Both. From a fitness standpoint a financial standpoint and a friendship standpoint so we are gonna talk about what is going to happen in the near and possibly distant future and what you should do about it. This is gonna be really fun. Mike thanks for joining me today.
00:34.83
mikebledsoe
Thanks! Man. Ah yeah, I'm excited to talk about this because we were just chatting before as we always do we we get a good fifteen twenty minute chat on before we do the show and I was walking max through all the steps that I've been. I've been getting walked through by a friend of mine on how to secure crypto finances and what it really takes to make sure that those things stay safe and why does that interest me well that interests me because. I look at the future and I see a lot of uncertainty which I think everybody does and if you're somebody who thinks that the future is certain then you have really fooled yourself and because we have no idea what will happen so the lot of ah.
01:25.67
Max Shank
I Think a certain future has to be kind of a sad one The the more certainty in your future. The more sad it's going to be and that's the paradox of what we're talking about is the more you secure something the more you trap that something.
01:30.12
mikebledsoe
Set Yeah a certain future is boring.
01:44.85
Max Shank
Because there are really only two ways forward. There's exposure and avoidance and if you only use avoidance as a strategy you will have greater security but you also have a much lower quality of life in your world Your universe your unique perspective.
02:03.69
mikebledsoe
Yeah, well, this also makes me think about the was it Nicholas Taleb nasim his approach in the book anti-fragile anytime I think about securing the future or investing or health and fitness I gravitate towards his philosophy.
02:03.89
Max Shank
Will shrink.
02:23.41
mikebledsoe
And his his first really well-known book that came out was the black swan and black swan was about black swan events those are events that are unpredictable and black swan is is a reference to ah europeans that thought that only swans could be white. And they never considered that there'd be a swan that was any other color and then some of these europeans hopped on boats and traveled to other parts of the world and one day they see a black swan and it was mind-bending because it was never considered that. That could ever be true anyway and so the future and well the the past is is littered with black swan events. We think we know what's going to happen or we think we can prepare for every eventuality but the truth is is you can't actually prepare for every eventuality. And I find that anytime I start trying to set up an avoidance system for every potential problem that might come up I actually end up getting really bogged down and creativity goes down and it becomes very difficult to move forward and so ah. In his book. Black Swan he starts getting into the anti-fragile conversation then he goes into anti-fragile conversation and in that book and he ah basically says that most humans think about systems as either being. Ah, fragile or robust they're on the spectrum of fragility to robustness and so I have a Toyota Tacoma. It's considered a very robust vehicle but over time it will become more fragile. It. It will not make improvements and the same with my computer. These are systems that are truly fragile systems but the human body and he also talks about he makes a lot of comparisons between the human body and the economy is there are certain types of systems that do well with some uncertainty. So if you. If you expose your body to in exercise to novelty in small doses. You will actually see improvements and the system improves. Overall if you if you throw ah too much novelty all at once then then you start breaking the system down of course. But really separating out. How do you What's the difference between a fragile to robust system that spectrum versus something that exists outside of that which is anti-fragile system and so that's how I like to think about.
05:10.34
mikebledsoe
When I think about my finances when I think about my business when I think about my health when I think about a lot of these systems some people if they're trying to prepare for every eventuality actually end up building a fragile system instead of. Thinking about it as how do I build an anti-fragile system and when they do that having a hiccup in the system may be a little uncomfortable in the short term but in the long term It turns out being a really good one so just bringing that to the forefront as I. When I think about securing my future I think about those things.
05:48.90
Max Shank
Yeah I like to think of adaptability as the Chief characteristic of survival and Thrival which is not a word but I like to use it Anyway. Ah from a fitness perspective. Adding chaos to your training is really valuable. In fact, culture the whole purpose of culture is to reduce unpredictability and to reduce chaos and if you do not. Do something to compensate for that. You get really sad human beings. That's why you need to have games where you introduce chaos in a relatively safe environment like I don't know if you're familiar with pushing hands from TaiChi.
06:43.69
mikebledsoe
E.
06:45.99
Max Shank
There's couple different types. But basically you and your friend try to push the other one or pull the other one so that they have to take a step and your feed are firmly planted and this chaos is like a more appropriate version of wrestling. For the average person. So the ability to adapt and react to an external force is really the chief characteristic of survivability. So I think adaptability number one culture is to reduce. Chaos and unpredictability so we need games and we need to dose ourselves with chaos if we want to really thrive and then just in terms of the the systems let's say there's ah, a fine line between prudence. And paranoia right? because the most the most robust system really would be to live with maybe 1 other person or a family on a farm by the river in a bomb shelter. And only leave when it's absolutely necessary so you increase your predictability but you also decrease your openness. That's probably why the further you go down that rabbit hole of securing and protecting the less creative and open and expansive. You are right.
08:17.73
mikebledsoe
Well Also Chaos is still going to find its way in going back to the black swan event is you when you create I think when people create a high level predicted Predictability. There is this inability to deal with the the chaotic and. Environment that that will come no matter what the black swan event's gonna show up no matter what and the more predictable you've been trying to make it the harder it is to adapt to that situation.
08:49.54
Max Shank
I don't think they're mutually exclusive but I understand what you're saying I think the more cards you have in your hand. The better off you are I think the benefit of living in a culture is that there's a lot of redundancy built into the system. Where I live. There are a lot of people who are electricians and plumbers and auto mechanics. So if one of them goes down I can go on to the next one if 2 of them go down I can go on to the next one and if you're relying only on yourself. You have to. Gain a ton of skills or you have to live in a very primitive way where you're not really able to use technology I just had my laptop sent in to get the battery fixed and before I sent it in.
09:39.38
mikebledsoe
Drew um, did you remove all the videos of you with hookers smoking crack.
09:44.65
Max Shank
Oh no no I just have it in a secret folder. Why would I get rid of those hookers love crack some of them do ah but I looked online first before I sent it in to get fixed. And it was 75 steps to replace the battery and you can buy a kit and do all those and it was 75 steps and I was like oh my god if I mess up one of these steps I can totally destroy my whole computer. So I ended up getting it sent in and. Especially with technology you have to recognize that no man is an island and that's why you really want to have kind of a segue here a little bit you want to have a social network ah a radical rolodex. Of. Not only service people but also friends that you can count on so there's that safety net we talked about a little bit before the 3 safety nets financial fitness and friendships basically and it's so valuable. Have those relationships with different providers of service and different providers of products and it really does increase your security and survivability.
11:09.16
mikebledsoe
Yeah, well I think about what's happening what I'm witnessing happening that continually which is ah the decentralization of things and the the format of of our our current economy. Being very capitalist I think it's going to just become more capitalist but the capitalism has allowed for a lot of that redundancy a lot of that the natural configuration if somebody goes down somebody will fill that spot and it doesn't have to be ah. Decided to buy a person's like oh we need to change this thing the system pretty much just adapts to whatever's going on in the environment in a capitalist society and as things decentralized more right now. It's like everybody is trading with everybody. But if we have a currency that is no. That not everyone agrees on in the future if if the dollar loses its value to a point where now we're going into decentralized currencies then there's this potential for a more tribalist type of society where you may not be conducting commerce. With certain groups of people and I think there's going to be an opportunity for these groups to segment and now I'm only go do business with people who are using these four currencies which I also use because the people that use these currencies share the same values and so whereas. Previously things were done geographically or by nationality things are now split up by individual values and and can be distributed throughout the entire world instantaneously and so I think that as far as the friendship goes and. Ah, social goes and economics go is having um you know if things deteriorate socially in in society as as it seems they they may go right now. It's good to make those friends have that person on board. You know have. 3 electricians on board have a few farmers that you're in contact with because the way that things have been done right now is there's a lot of single points of failure. For instance, you know through regulation Usda. You know you have to have a Usda butcher butchering the meat for it to be shipped across state lines and now you have these states that have almost no ability to birch butcher animals and distribute food and so ah, there's gonna be I think that there's gonna be a time where we.
13:56.25
mikebledsoe
We actually have to create our own network instead of just relying on I'll just go to the grocery store and pick this shit up and I've already begun doing that I've been on the phone with a woman just last week where we she she's in contact with regenerative farms and and it's helping distribute those goods locally. So. It's I think that yeah being able to just go online and pull up a technician to do this or that may become more difficult in the future and I think that the level of responsibility for having to create those connections yourself may go up.
14:33.99
Max Shank
Yeah I mean unfortunately the closer you get to the barter system the less comparative advantage you have because you have to have an agreed upon currency. That's the whole advantage of money.
14:49.46
mikebledsoe
E.
14:52.87
Max Shank
Is that it makes it so easy to trade Things. We would never have been able to produce computers and yachts and trucks and all these crazy things like if you think about it I'm in shock when I. Drive my truck around because of how impossible it would be for me to make anything like that. Even if I knew exactly how to make it and what that's that's what I'm That's what I'm saying it would be.
15:21.40
mikebledsoe
I would totally not make it I could have every step laid out and be given all the parts still not doing it. Yeah.
15:29.63
Max Shank
It would be impossible just to gather. The materials would be Impossible. So The fact that we figured out how to trade with each other in such a hyper efficient way is the only thing that has allowed us to do all that so you know it. It's frustrating sometimes because the only thing a leader really needs to do is not fuck up the money and not get into any ah Wars or conflicts. That's actually the only thing a leader really needs to do ah and if you do those things though.
15:58.47
mikebledsoe
Ah.
16:07.37
Max Shank
It gets really bad so preparing for those eventualities is valuable I think gosh you know we can start getting into the nuts and bolts of preparedness. Certainly it's good to own at least. 1 property because you got to live somewhere and as the money devalues because we don't know if it'll be hyperinflation or stagflation or we we can't predict those sorts of things.
16:43.68
mikebledsoe
Yeah, the the the variables that are currently present have never been present before we we are in a black swan event. So we have no idea what the result will be.
16:44.26
Max Shank
But rents.
16:53.11
Max Shank
Yeah, we don't know what's going to happen next exactly. But it's good to have an Id in your mind just have your best guess because I think we've talked about it once before it's like buying Insurance. You don't ah buy insurance for. Everything you just buy insurance based on what is legally required or based on what probability you assign to a certain thing happening right? So What is the probability that the value of a dollar or you know let's say that just a. Keep it simple suddenly a gallon of gas is $200 and you're like whoa. This is really bad but then you have to in your mind assign a probability to that. Oh and a certain timeframe and it gets very difficult to do those things. So.
17:43.75
mikebledsoe
Yeah, yeah.
17:50.99
Max Shank
Barring that which is unknowable. What do we know for sure that will not change and that is human nature will not change and so if you are productive yourself and you provide a skill or a service or a product that people will always want. That's always going to be very valuable so that's like your your functional safety net. What function do you perform.
18:15.70
mikebledsoe
Yeah I I think about the 2 things that that I am I do I was talking to Ashley about this Saturday which is I secure my future by continually creating value and investing in emerging economies or emerging. Technologies and if I do those 2 things I'm not really that worried about my financial future now the other the other the 2 other f's we were talking about It's not relevant as relevant to that I mean the creating value is pretty relevant to the the. The friendships the social piece because if you're valuable people will want to be your friend.
18:53.24
Max Shank
Is.
18:59.80
Max Shank
No question I think that having a group of people that you can be open and honest with who have your back and you have their back. You can't really put a price on that. So. It's good to nurture those things on a regular basis. That's really not natural for me to do I tend to be more in my own head working on projects and not really think to just reach out to people but it's something that I've gotten a little bit better with and it makes a difference. You know invite a friend out to lunch or throw a frisbee around and it can go a really long way, especially given what's going on right now where people have probably been socializing less than ever in Maybe any society for a very long Time. You know. I Guess ah neighboring Hunter gatherers probably socialized with ah their neighbors less than we do, but it's It's not a lot so reinforcing Those relationships is huge.
20:04.52
mikebledsoe
Yeah, and they didn't have ah well what? what's interesting is in the last couple years. The amount of actual social interactions gone way down, but the but the we'll call it the the fast food of.
20:19.55
Max Shank
Basement.
20:24.36
mikebledsoe
Social engagement has gone up. You know the Facebook instagram all the social media platforms. So I remember I was listening to a thing that what's his name. The guy the dilbert guy. What's his name Scott Adams he was talking a guy anyways. Um.
20:34.87
Max Shank
Scott Adams
20:43.28
mikebledsoe
Brilliant in some ways not in others but he he was talking. Yeah come on now I Well he would.
20:46.30
Max Shank
Not like you. You're brilliant in every way wait but real quick though he has an excellent Youtube video on writing just and the reason I'm plugging. It is. It's free. It's maybe a half hour long and writing. Or communication is one of the most high yield skills. There is so give give that a look in terms of securing your future.
21:08.12
mikebledsoe
It is yeah writing copywriting if you can write copy that is just you're able to write things that cause people to buy shit then you'll never go hungry. Ah yeah, so.
21:23.89
Max Shank
No way.
21:28.40
mikebledsoe
So Scott Adams was talking about somebody was challenged saying you know social interaction has gone down. He was like really seems like you know social interaction is higher than ever online and and that's why I say maybe he's not all that smart because he was making an argument for. Being we have more social interaction we ever have which is being dictated by algorithms and and you know of course humans tend to to create their own bubbles for sure like I surround myself with light-minded people where there's not a high level of disagreement. Ah, but the.
21:48.92
Max Shank
Um, yeah.
21:57.50
Max Shank
Oh yeah.
22:04.55
mikebledsoe
When there is disagreement. We can actually have a conversation and work our way through it whereas online that doesn't really happen. It just further divide is what happens and so um, you know a lot some people even people who are considered to be really brilliant like Scott Adams who who is brilliant in a lot of ways. You know he challenges that and I don't know what kind of world he lives in where he think and he may not have experienced that at all. He may have been surrounded by friends this whole time. Um, but.
22:30.70
Max Shank
Well, it also is a personality type difference and you know I've read a bunch of his books and they're very good. He's a hyper Introvert So this situation for him is almost perfect.
22:41.31
mikebledsoe
Yeah.
22:47.10
mikebledsoe
Probably been calming. He's probably been able to chill out.
22:49.20
Max Shank
He gets to he gets to hang out at home more. There are a lot less social obligations that you have to fulfill. Um, it's never been a better time for introverts and ugly people because you can stay home all day and put a mask over your face.
23:05.86
mikebledsoe
Um, well there was a did you see the study that people people now find other people more generally more attractive when wearing a mask.
23:08.89
Max Shank
Ugly introverts have never lived so good. Ah.
23:18.64
Max Shank
I mean it works in ah Saudi Arabia oh very mysterious. Ah, but you know someone like that.
23:22.70
mikebledsoe
Yeah I mean to that point I've been in the Middle East and I I was on a deployment I hadn't seen hardly any women for months and then I arrived somewhere where they're wearing the. Full facial covering all I can see with their eyes. So sexy. My imagination just fucking went wild. It didn't take very long at all couple months. No women and then full on Bura and that was it's true and I've seen I've seen some people where I've been on the airplane.
23:43.89
Max Shank
Now we're talking totally yeah, totally.
23:59.66
mikebledsoe
Like oh that girl looks pretty good. She pulls her mask down like ah.
24:00.42
Max Shank
Right? Well, it's like why guys grow beards so we can hide the bottom half of our face. It's like you don't know if I have a chin. Maybe I have a really strong chin. Ah.
24:14.53
mikebledsoe
That's right.
24:16.99
Max Shank
There are a lot of examples of what you're talking about with Scott Adams there and I think ah nasim Nicholas Teleleb is another good example where you have people who are really intelligent in 1 regard and then they just are so far off the mark in another regard and. We're so locked into this cause-effect relationship for health and we're trapped by the way that we do experiments and who runs the experiments and who pays for the experiment. So if you're. Taking everything very literally. You're only doing what is proven ah proven quote by science quote again, you're not going to recognize the value of sharing the same physical space with another person. You know you and i. Have explored that realm quite a lot where even just being in the same room as someone if you're not saying anything can be a really rewarding experience and it can bring you a lot of joy. And calmness and peace and resonance. There's a harmonization of 2 living beings and if you are caught up in the explicit and more material. Sort of thing you're going to discount the value of that and so in a sense you're right? It's it's easier to socialize now than ever through a screen ah through the telephone and it's better than nothing but it's not the same.
26:07.51
mikebledsoe
Yeah I'll go back to what you're saying like the the quote unquote proven for people who aren't seeing the video of us is anytime anyone starts talking about something's being proven to me. That's an immediate red flag. Someone goes. Oh. It's proven that that I go immediately I I Dis If if they got a Ph D beside their name or they consider themselves a scientist I in my from my perspective they just discredited themselves because any good scientists look saying the word proven. Is a marketing term. It's not a scientific term.. There are very few Proofs in Science. There's the only time you would talk about Proofs in Science is it's It's a mathematical equation. It's a it's hardcore physics. There are laws involved anything else.
26:46.96
Max Shank
Totally.
27:03.00
mikebledsoe
What I want to hear from somebody who's a scientist I Want to hear is there is evidence to suggest that http://dot.dot the problem is it's not a very good marketing.. It's not a good way to convince people of taking your side So just want to throw that out there. So as you're listening to. Quote unquote scientists out there talking about what's being proven and what's not usually if they're a bureaucrat in some way and they've got a Ph D and they start saying that I I immediately you know start questioning. Whatever it is. They're saying.
27:35.54
Max Shank
Well, it's like ah the phrase caused by cells way more than correlates with correlates with doesn't sell shit and if we don't know.
27:45.70
mikebledsoe
Yeah, yeah.
27:53.81
Max Shank
The best diet for people which we can't know because I don't know if you know this but people are different this whole idea that we should all eat the same stuff is freaking Insane yeah you and I we should all We should all take the same medication. Ah, you know.
27:57.57
mikebledsoe
Ah, no should we should We take the same medications to globally you know.
28:12.16
Max Shank
We should. We should all eat soybeans for the greater good too. Probably yeah, no correlation versus causation is probably my biggest gripe and it has to do with essentially gang mentality people are trying to protect their authority. And make these claims that x causes y when really it's just that x correlates with y and it would be a lot easier to have a conversation about that if there wasn't such a fanaticism around these things. Let's have an open conversation about correlation. Versus causation and god it's it's hard to see if you're not in the industry yourself, but the amount of people throwing $10 words around is like so unnecessary. Maybe that just irks me because. I I know what those words mean but I also know that it just makes it harder for the individual to understand and when you say something like post brandial forward ambulation. Why don't you just say go for a walk after you eat. So so it's like so ridiculous to me? well but that's just yeah, that's just it. It sounds much fancier if you use these fancy terms and that that is what sells and um.
29:29.30
mikebledsoe
Ah, well I won't I won't sound smart to the other scientists I won't be able to impress people.
29:46.73
Max Shank
You have to protect yourself from that speaking of securing your future I think making sure you can't make sure all the way but making sure you don't get swindled by the popularity paradox and the popularity paradox is something I use to describe. The fact that um things that are popular are usually only so because they're striking or different.. It's like a purple cow is going to be more attention grabbing but you probably shouldn't eat. It.
30:23.29
mikebledsoe
Yeah, yeah, that the more popular something is the more I I question it something that like I just look at Mainstream and I've had people ask me and they go. Why are you? Why are you so extreme and. So alternative in every area of your life. It seems like if I if I uncover an aspect in my Life. You will go Wow. You're so extreme or whatever and I go look if it's mainstream if everybody is agreeing on it I start asking questions. And I start looking the opposite way because I'm just looking at the results of the mainstream if the results of the mainstream were you know, ah beautifully healthy bodies financially secure and everything was going really great I would pay attention to what the mainstream is.
30:58.74
Max Shank
The.
31:05.94
Max Shank
Totally.
31:16.55
mikebledsoe
Doing and and follow suit. But when I look at the mainstream I go the results of what's happening in the mainstream are so poor that to listen to any of those people giving advice on how to live life or to do things their way. And it would just be sad and for people who understand Health and fitness the the food pyramid's a great example of of that or the most the most predominant food in the grocery store is corn and there's all these there's there's.
31:39.27
Max Shank
For.
31:46.90
Max Shank
A.
31:51.54
mikebledsoe
There are these things like the food pyramid and and the predominance of corn that bring into question is like oh should I be eating corn if that's what everyone else is eating and they look like shit and ah and should I be eating like the food pyramid because the average person. They've been exposed. That's the only information they've really been exposed to on how to eat and they look and feel like shit. So let's look at something else. So the same thing with with economics and with investing you know if everyone's doing an ira. Everyone's doing an Ira and doing ah a. This and that and s and p five hundred I I look you might be able to have your investment match inflation. Hopefully probably not this year but in previous years you you probably outperformed it just kind of depends on here and there. But. You know the average person is not making that kind of investment but even out of the people who are investing the mainstream is that and there returns the amount of money you have to to invest in order to retire if you're gonna put it into a typical ira or something like that is ridiculous. You have to start investing in your twenty s and hopefully you'll be able to take some out in your 60 s. And it just it that to me does not make any sense so I look at alternative investing strategies as well and so and to me that's where I was talking about investing in in emerging technology. So web 3.0 to me right now is the emerging technology anything that's web 3 o is interesting to me tesla stock is interesting to me there. There. Ah, there's a new. Ah there's a new. Strategy for mining bitcoin that Exxon Mobileil has put into place but there's also some small companies that have ah partnered with some some oil drilling companies that the flair. So. There's a lot of methane gas that's produced when drilling for oil and that's where you see those fire stacks and they're just letting that air out well burning up that methane and creating a lot of co 2 in fact, and they're being taxed on that co 2 but they figured out how to capture that methane. And use that as a fuel for servers to mine cryptocurrencies and so now they're going to save 50% on their taxes and they're now mining cryptocurrencies. So to me I look at that and go that's a very clever emerging technology that's based on.
34:21.73
Max Shank
There you go.
34:37.71
mikebledsoe
What's happening and and blockchain and web 3.0 and so I'm looking at all this and I go that's where I want to put my attention. Ah the majority of it for me and of course I'm I'm someone who's who's always trying to stay ahead of the curve and not be in the mainstream.
34:54.63
Max Shank
Investment Strategy can look a lot of different ways. You can get very rich selling wood pellets. Ah I I tend to do kind of the opposite of what you're talking about which is more more to look at things that are.
34:56.40
mikebledsoe
So.
35:08.22
mikebledsoe
Yeah.
35:14.39
Max Shank
Generating cash and creating real profit right now that has a bad public perception If we're talking about individual companies to invest in something that people need something that is delivered at a profit. Something that isn't going to change in the future but there are a lot of things that get publicly beaten down because they're not. They don't sound as cool. Um, so it's tricky. The truth is though if you don't know.
35:41.00
mikebledsoe
Um, yeah.
35:50.90
Max Shank
Ah, you can spend the time to teach yourself, but you probably would be better off investing in growing your own business I Assume most of the people listening to this own their own business. So um, investing into your own ability to generate income and then investing into a single. Property that you can live in so you're not just spending money on rent every month before you worry about investing into other companies because you can get a way better return betting on yourself.
36:17.70
mikebledsoe
Yeah.
36:23.36
mikebledsoe
Well that that's a predominant view and which which I held for a long time which is if I'm going to reinvest in my business What's what's a better place to reinvest the problem is I I lacked diversity. And my portfolio basically and so my business didn't do well which is not always in my control then now I'm fucked to so the the frame that I've I've adopted in the last year is I treat my business as an income producing asset.
36:40.56
Max Shank
Right? right? totally.
36:59.67
mikebledsoe
It's not a place to build Wealth Wealth is built by other high leverage income producing Income Producing assets and what I'm looking for is the highest leverage that means it requires the least amount of effort for me to get the highest returns possible.
37:18.58
Max Shank
So investing. Basically.
37:18.97
mikebledsoe
And so if I'm investing my own. Yeah, but if I'm investing in my own business and I'm still working in my business. It's actually not a very high leverage. But if I become a a true. Yeah, well you want to become a I don't think anything is passive. But.
37:26.14
Max Shank
Right? I see so you're talking about passive investing right.
37:37.38
mikebledsoe
Some is more active than others and so like even in the stock market.
37:41.29
Max Shank
Passive meaning you're not doing any work or management. You know you can trade certainly but right, but okay so you could hire you could hire a fund manager you could hire a fund manager I suppose would be the the.
37:45.11
mikebledsoe
Um, that's still managing though you're stopping a you're giving it energy. Yeah, you do it all the politicians do yeah so and they can claim that they they oh I didn't know I was investing in Lockheed Martin 24 hours before the war with Russia was announced.
37:56.92
Max Shank
Least effort. What's that what.
38:11.39
Max Shank
Ah, well.
38:13.51
mikebledsoe
There's ah that you Nancy Pelosi you know one of the the biggest offenders of taking advantage of inside knowledge for the purpose of investing there was a Twitter account that tweeted every one of her trades.
38:19.55
Max Shank
Um, oh yeah, yeah, what a surprise.
38:30.81
mikebledsoe
And then Twitter bandit which is a very interesting thing. Yeah, but going back to I really like to put money I think you're right invest in your own ability to create value so that you can continue to have income that produces income initial income. And then ah you know own a home so that you're not just paying rent because she does hit the fan and look my mortgage is set I'm paying the same amount. The the dollar could lose half its value which it may and. Which basically means I got a cheaper house and what good for me. But if I was paying rent. What what do you think? Rent's going to do rent's gonna go. It's gonna skyrocket. It has to so actually if you're a homeowner you almost want and and most of your stuff's in real estate inflation.
39:10.96
Max Shank
You're locked in.
39:16.74
Max Shank
Um, it has to.
39:27.76
mikebledsoe
Could be seen as ah as a positive thing hyperinflation is not because that's just disrupts the entire economy. But yeah, so and then the third one is so invest in your own ability to create value and get your property and then invest in high leverage assets things that just produce income which I think is what you were saying what you want to. Investment things that are throwing off cash now not something where I'm going to put money in and hopefully it goes up in value and I'll be able to take some out the future is that accurate.
39:55.80
Max Shank
Yeah, yes, and it's tricky too because um, if there was an investment that didn't follow the rules of risk and reward everyone would invest into it so risk and reward are proportional and.
40:07.88
mikebledsoe
Yeah, yeah.
40:13.95
Max Shank
If you buy I don't know let's say Tesla right now you're probably not going to hundred x your money over the next few years I don't see how it could happen I'm already stunned that that company is worth so much. It makes no sense is divorced.
40:21.21
mikebledsoe
No.
40:33.60
Max Shank
It's divorced from reality. Um, so we could have a separate conversation about that. But there are companies that you could purchase that can hundred x over the next couple years but they can also go to 0
40:45.19
mikebledsoe
Um, um.
40:51.39
Max Shank
So The risk is much higher and the reward is much higher. So If you're looking to diversify your wealth then it would make sense to be really clear on that risk reward. You can. Only gain more if you risk more generally speaking if it's going to be a passive investment because you're not in control of what a cryptocurrency is going to do. You're not in control of what a company's going to do and usually the the more secure it is the less volatile it is.
41:26.41
mikebledsoe
yeah yeah I I this is where you and I differ because you you tend to go more on the conservative route and so that the 2 things I invest the 2 things I've invested in so far. Ah.
41:28.55
Max Shank
The less It has the potential to grow. So.
41:36.55
Max Shank
Is true.
41:44.20
mikebledsoe
The most heavily has been startups and the second would be crypto and I've 2 of the 3 are winners and the but 1 of them which was my biggest investment ah went to 0 in a month
41:51.11
Max Shank
M.
42:01.10
Max Shank
Right.
42:02.50
mikebledsoe
So I was just I basically just took money put it in the toilet and flushed it that one hurt and I I learned to I yeah I learned I learned to vet a little better. Um and then cryptocurrencies.
42:06.45
Max Shank
Might as well have bought a boat.
42:13.37
Max Shank
Well, you have a different skill set too. You have a different skill set too. So your investment style matches your personality type it matches your skill set. You have a lot of experience with startups I've got almost.
42:21.19
mikebledsoe
E a. Um, I Also spot Trends in the Market. Um I'm very good at seeing patterns in the market and I can tell when people are going to be interested in something.
42:35.33
Max Shank
Can you can you let me know next time you have one of these predictions nostra Daic Theta a crypt the cryptocurrency which could certainly go to 0 right.
42:42.18
mikebledsoe
Theta Theta Yeah, yeah, it's got utility. Um I doubt it because a lot.. It's a video streaming. It's got a video streaming utility and a lot of it. Big video streaming companies have already adopted it it it ah it reduces the amount of Bandwidth necessary to exchange more data I don't know how the fuck it works but it works Um, and.
43:12.73
Max Shank
Sounds like the the the company from that show Silicon Valley pied piper like takes your data and makes it smaller. That's one of the greatest shows ever as hilarious.
43:20.75
mikebledsoe
That's right I Love that show. Ah, it's a good show. Oh man. Yeah, if you if you're in the entrepreneurial world or ever been around startup ah in the startup world. It's It's ah pretty good.
43:35.41
Max Shank
You can win more by not diversifying all the richest people the fastest didn't diversify Zuckerberg no diversity. Ah Elon Musk not they're not diversifying. It's like a a spike. There's no.
43:37.29
mikebledsoe
Ah.
43:42.82
mikebledsoe
Yeah, yeah.
43:53.52
mikebledsoe
Yeah, no.
43:53.68
Max Shank
Well-roundedness to the investment. There's no there's no pyramid of like I have some here and some here and some here and some here and you can go further and you can earn more and you can also lose everything so you just have to find the appetite for risk reward that will. Allow you to sleep at night because if you earn a little bit less but you sleep soundly every night. It's probably a good idea and there's a good phrase to be greedy when others are fearful and fearful when others are greedy. And if you can avoid being too greedy. You won't be ah you know having heart palpitations when you're thirty years old because you're worried that you know all your investments are gonna go to 0 so you just gotta you gotta to match that.
44:44.76
mikebledsoe
Oh yeah, what? but.
44:49.68
Max Shank
Mentality and what kind of Lifestyle you want to live and I feel like the advantage with investing and with insurance and if you want to stockpile food and cash and gold and that kind of thing. It's ah set it and forget it. You don't want to be. Thinking about it all the time that defeats the purpose of buying Insurance. You know.
45:10.64
mikebledsoe
Ah, yeah, but this whole thing reminds me of my girlfriend and I about we had been dating for about five or six months and you know I I was heavily investing in crypto and and. She had some money to invest in something. Yeah, you might want to look at crypto I can't tell you what to invest in I'm not you know I'm just saying hey I I like my returns have been pretty fucking. Good. This is the an example of what can happen and I've been pretty conservative so in the crypto world I'm conservative. Ah. I'm not looking for I'm not looking for the unicorns right? So there's you know, really solid fundamentals and all this because well part of it is because I I look at the dot com era and I see a lot of.
45:48.41
Max Shank
Blows blows my mind. Um, yeah.
46:05.97
mikebledsoe
Similarities between web 3.0 and and http://the.comboom bust and which means that 99% of the your invest of of these companies these coins all these these nfts they're all going to go to nothing ah but 1% is going to become. You know Google Youtube Twitter Facebook you know these these new things will emerge so pay attention and invest in things and you don't have to get in that early if you want to make if you want to turn you know $10000 into a b. Then yeah, you might have to get in and when something's selling at ¢3 ah per per coin. But I'll get in when it's 10 or fifteen I don't give a shit because it's going to 500 I mean I'm gonna get a ah hundred x out of it. So um, yeah, that. Um, I'm fairly conservative. My girlfriend gets into the market and she is checking it every day and you know it's going up and she's so excited it goes down. She's she's like what the fuck freaking out and I go stop looking at that shit the only the only time you should look at it is if it's not going to.
47:06.57
Max Shank
Is it.
47:15.90
Max Shank
Right.
47:21.46
mikebledsoe
Either You have the the constitution to where it's not going to bother you. You're not getting an emotional swing out of it being good or bad or you like what you were saying is set and forget it buy a bunch of cryptocurrencies and then put it on a decentralized wallet somewhere folks not not an exchange.
47:26.28
Max Shank
Home.
47:41.32
mikebledsoe
Not on coinbase not on Voyager get on a decentralized wallet like trust wallet and or exodus.
47:50.50
Max Shank
I'm I'm waiting for Mike's investing handbook. It sounds like you have a figured out man.
47:53.69
mikebledsoe
I Ah my I'm gonna be working with my buddy he he built a course I'm trying to get him I want to interview him and then promo the course because I the the information I've gotten from him has been incredibly valuable.
48:11.30
Max Shank
Nice there you go.
48:12.54
mikebledsoe
And he knows what the fuck he's talking about he comes from the financial background so he used to be in in bait he used to be in banking and then he's and and so you know he he worked in debt and then he got into crypto so the guy the guy's been thinking about money for twenty plus years in ways that we haven't. And but yeah, set it and forget it.
48:34.22
Max Shank
You know what you were saying what you were saying earlier about your girlfriend there checking it all the time you know you wouldn't check the value of your house every single day if you owned a house. Oh my god.
48:45.68
mikebledsoe
Oh she does that too. We just bought a house. She's like checking the value the homes in the area because because because the market is actually moving really fast where we live. It's like oh we probably already made like $50000 like maybe.
49:01.33
Max Shank
Well yeah, maybe and you know, checking something like that all the time can can be good if if you're a trader if you're looking to move stuff around quickly and when you have a smaller account. It's easier to move more of your.
49:12.69
mikebledsoe
Yeah.
49:20.62
Max Shank
Percentage of your portfolio more quickly so you have more agility and you could be more nimble but it kind of reminds me, you were talking about the pelosi trading thing earlier and I was just thinking about how. We have technology like never before just based on technology Alone. We should all be working less and earning more and living healthier and living longer. But we don't and there are all these traps out there.
49:46.15
mikebledsoe
E.
49:56.28
Max Shank
And people check every day like oh what's going on in the world and it's probably it's It's probably the biggest trap there is because it takes you out of the here and now the flow which is the only thing that's going to.
50:01.48
mikebledsoe
Um, that's the same thing right? Yeah yeah.
50:14.94
Max Shank
Really bring you fulfillment when you become the task. Whatever it is. You're doing um people who retire early they gotta find something to do ah sometimes the only thing they find to do is drinking themselves to an early grave. So. You get these people. Maybe they owned a chain of dental offices retire at 40 They got to go out on the golf course or learn carpentry or start a band with their other old friends at the country Club. You got to do something and you got to do something that takes you into the here and now and into that flow. And the worst thing you can do is try to stay abreast of things that have no ah that you have no chance of influencing your life in a positive way as a result of knowing these things So when I think about. The Ah Friend safety Net which is really like a psychological safety net because you should be your own. Best friend Hopefully ah, you're you're abusing yourself mentally by trying to stay on top of what's going on and oh this.? Ah. Dude is winning at swimming against the ladies and I'm outraged about it and what the fuck it's like who cares? are you gonna do something about it. No then like just live your life and it's hard because it's very entertaining I think getting trapped.
51:33.67
mikebledsoe
A.
51:49.40
Max Shank
Into a tribal identity is like 1 of the worst things you can do you're like oh I identify as he him or she her or I identify as trans or maybe I I could identify as black or whatever.
52:05.57
mikebledsoe
Or even liberal or conservative.
52:07.50
Max Shank
Ah, well God Yeah, why would you want to like wear their logo on your t-shirt like are you out of your mind. They don't care about you? Um, so I think about that as being one of the biggest traps there is I think.
52:23.43
mikebledsoe
Well you you you don't have to ah those traps work because.
52:25.70
Max Shank
If Your identity is if your identity is based on. Ah if your identity is based on a group it means that your individual character is Worthless. You're like looking for something Oh I'm part of this group. Not. I'm me and I can do this this that or the other thing is just I'm on this team if that's all you have to offer is I'm on this Team. You suck as a person probably.
52:54.10
mikebledsoe
Yeah, well, it's easy you you can stop thinking for yourself and adopt whatever somebody is telling you you should be mad about or what you should care about because you now fit into this this group identity and it's um.
52:59.38
Max Shank
Right.
53:13.71
mikebledsoe
It's really really sad. Yeah, it's really really sad, but and it's hard for us to tell people this because I've told people this before and they're like well it's easy. You're a white guy and I was like I was like yeah what did you see? did you see ah somebody posted the other day.
53:13.87
Max Shank
It's mental illness. It's mental illness. It's like it's like if you.
53:26.20
Max Shank
I'm a black lady How dare you assume my race or gender.
53:33.20
mikebledsoe
About ah the if you identify as a woman as ah as a woman owned business. So if your business is owned by a woman then you have all this access to these government grants and all this all this stuff and I was like oh this is brilliant I can just.
53:44.70
Max Shank
Amazing.
53:49.94
mikebledsoe
Identify as a woman because it obviously doesn't seem to be a problem right now and some people were posting like oh then you would get you know that would be fraud I'm like okay so do we have men and women or or are we going to reward some people for. Being born a certain way.
54:08.40
Max Shank
You know it's kind of like these otherwise healthy people are electing to participate in Schizophrenia every day by the way they're using their computers. Like plugging into the hive mind to have all these voices yelling at them of they should be this way or they should be this way and then they're yelling back into the void. No, you should be this way fucker and it's like whoa my God and look we have.
54:33.26
mikebledsoe
Ah.
54:40.49
Max Shank
Such crazy technology. We have so much leverage potential at our fingertips and we're using it to yell at a stranger about something We don't have any nuanced opinion of we're just carrying water for someone else who's trying to blind us all to the fact that.
54:52.25
mikebledsoe
No.
54:57.51
mikebledsoe
Um, are you carrying water for Putin Oh my gosh. Um.
55:00.37
Max Shank
Ah I don't carry water for anybody. But I recognize but I recognize but I recognize that carrying water blindly for Ukraine isn't necessarily a good idea either and I have the confidence to admit that I don't know a god damn thing about North Asian Fucking Politics you know what? I'm saying it's it's crazy that everyone has such a strong opinion about these things but all it does is distract all it does is distract from you know I feel like a ah a record that's just on repeats like the only thing that really matters is jurisdiction.
55:20.54
mikebledsoe
Yeah, well, it's it's funny because if you come out with no opinion.
55:39.44
Max Shank
And Authority who's in charge and when do do they get to police that authority of theirs and if you're a leader. The only thing you shouldn't do is fuck up the money or get into Wars and that's what's happening and we're all just like but what about this guy swimming.
55:43.32
mikebledsoe
Yeah, yeah.
55:58.92
mikebledsoe
Um, ah it's incredible.
56:01.50
Max Shank
It's like yes it Yes, it's stupid. Yes, it's stupid. Okay, but also there's there's not like a healthy priority list. You know I'm saying it's it's insane.
56:09.91
mikebledsoe
Oh I totally get it why why does why was that the most talked about thing for 2 or 3 days last week when.
56:19.20
Max Shank
Because it's hiding other stuff that was way more sinister. No question and look if it bleeds it leads I get it. But you don't have to participate in it. You will definitely live more angrily. If you are constantly plugging into that thing and I get really excited about it because I've coached a lot of people both ah business wise coaching training wise and as soon as you realize that the biggest limiting factor in getting what you want is you.
56:39.15
mikebledsoe
Are.
56:52.74
Max Shank
Then your whole perspective changes about everything because that's also the only thing that you have control over. Yeah I think ah.
56:53.97
mikebledsoe
But but it's much easier to blame other people for my lack come on. How am I supposed to use my scapegoats to feel better about myself for not doing shit.
57:06.62
Max Shank
You know what that makes sense I I would be so much better off if that guy wasn't swimming against the ladies. It's I think that's where the most of my problems are being caused good God man. Okay, so.
57:16.65
mikebledsoe
Ah, yeah.
57:24.88
Max Shank
What do we got here. We have. Um, we have a culture the the culture is sick but the technology is awesome. So if you can avoid participating in the culture at large and create a group a family ah of friends and relationships that engage in. Healthy Behavior. You essentially have the keys to the Kingdom psychologically if if you pretty much avoid the media ah and focus on improving your own life. That's also the best way to lead is. By example, you know you just live your life The way you want to on your terms. And you'll be way better off and you'll find that you have lots more time. Everyone's like oh I'm so busy I'm so busy, but the the truth is it's more of ah, a verbal tick to let people know that you're not Lazy. It's not I don't have time I'm so Busy. You're basically just telling them I'm not lazy I'm not lazy I'm not lazy right? but.
58:23.93
mikebledsoe
Yeah, or I have a I have a terrible method for setting priorities.
58:30.42
Max Shank
I Can't prioritize my life even with space age technology I can't prioritize my life even with space age technology I'm so busy I'm so busy I have no time I have no time I have no time. It's ridiculous. So ah, ah.
58:41.62
mikebledsoe
Yeah I've had I've had students come through. It's It's hilarious students come through and they're like I don't have time to do the program and they're single and living with their mom I go.
58:50.64
Max Shank
And.
58:59.28
mikebledsoe
You don't have time to do the pro. What what are you doing like you're 23 like what do you? You think you don't have time right now this is gonna be a rough one. There's gonna be a rough life for you.
59:10.40
Max Shank
It feel like we got a little off the rails there I think I I think I I think I took us I think I took us right off the rails. You know I get all fired up sometimes.
59:14.18
mikebledsoe
We did all right? Let's go Back. It's definitely all your fault. Um, so all right? So securing your future fitness we'll we'll ah we'll start wrapping here. Securing your future fitness How tos.
59:31.78
Max Shank
Walk a lot. Um, learn how to prevent falling which is stepping and lunging and learn how to prepare for falling which is rolling and falling. Is a really good example of risk and reward because the probability that you will fall is basically 100%. You're not going to live your life without falling now given a fall There's maybe a less than 1% chance that you will die or maybe a 1 % chance that you will die but a 1 % chance of death should be plenty of motivation to learn how to fall well and learn how to lunge so that you can prevent falling and that's because even though the risk ah probability wise is very low. You will kill yourself in a fall the cost of that error is total death total annihilation so because the cost is so high even if the probability is low. You want to prepare yourself for falling and then the last.
01:00:39.45
mikebledsoe
Yeah, you know what it might have been I want to interject here because it might have been you. It might have been another coach that I've been interacting with over the last decade who knows but they talked about a relationship to the ground and ah was a you that use that terminology. Okay.
01:00:44.55
Max Shank
Yeah.
01:00:52.91
Max Shank
Yeah, yeah, yeah, right.
01:00:59.31
mikebledsoe
And and I remember talking to you about that and I really when I started holding that frame my training shifted and I became ah I prioritized my relationship to the ground and then I anytime I came across like my. Ah, like older people in my family I would talk to their their. Yeah they well they fall into bed So The bed is about hip height so they can just like roll into bed. They can roll out and then they.
01:01:22.59
Max Shank
They're afraid of the ground they're afraid of the ground a lot of time they're afraid Chest high.
01:01:35.77
mikebledsoe
They they fall back into the recliner they fall into their car. They get out. They sit in their office chair. They fall into their office chair. It's all it's got to be cushy and they have no practice whatsoever. Getting up and down off the ground. So a lot of like older family members and things like that they asked me about how to be in better shape because I walk in they're like wow you're 40 so got a 6 pack. Yeah so how do you do that I go well at first I work on my relationship to the ground and then I teach them how to. Get up and down off the ground which basically means like let's get all the way down and then you'll figure it out but practice that and I I put my you're the same way cause I've seen your bed. The bed is on the floor because I know that if I practice if I sleep on the floor that's guaranteed.
01:02:09.60
Max Shank
Yeah.
01:02:23.47
mikebledsoe
I'm gonna get up and I'm gonna get down at least once that entire day off the ground if I do that for the rest of my life. It's not gonna be a problem for me whereas for most people it is so I just wanna throw that in there because that was so valuable.
01:02:32.33
Max Shank
A.
01:02:39.51
mikebledsoe
Ah, such a valuable frame for me to adopt.
01:02:40.74
Max Shank
I Think our listeners are just wondering why you've seen my bed.
01:02:50.26
mikebledsoe
I've seen his steam room too.
01:02:50.63
Max Shank
Hey now it wasn't steamy before you got in there. Ah I couldn't I can't help myself. Ah and also ah bone density being being able to support ah heavy-ish.
01:02:57.40
mikebledsoe
I Hope what else in.
01:03:10.22
Max Shank
Amount of force with your skeleton being able to carry stuff very um, important skills. Um, that's actually what my primal athleticism program is all about it's a daily practice primarily for longevity. You're not going to be. Deadlifting £600 you're not going to be cranking out 20 handstand pushups but you're going to learn how to skip and bounce and roll and crawl and fall and climb and carry things and those are some of the most important skills I think. Just because we're in the fitness industry people overemphasize certain things because it's the brand of their cult. You know people are like oh muscle wasting you got to be careful muscle wasting and it's because we're in essentially the muscle business if you're a dude right? ah.
01:04:03.64
mikebledsoe
Yeah, pretty.
01:04:07.23
Max Shank
But a lot of skinny people live a really long time. So It's really more important that you are strong and you are able to use your muscles in an adaptable way kind of back to what we talked about before the Chief attribute is elasticity which is really. About adaptability to a wide range of forces at a wide range of angles at a wide range of positions and that's what my elasticity program is all about and it doesn't have to be complicated. Um, you could probably just do TaiChi every day go for walks and. Not eat too much and have friends and live a really long time. Yeah.
01:04:49.30
mikebledsoe
Love it. So the things I would add on the fitness side is master your breath so learn learn how to breathe well into every part of your body I Like to think about my.
01:04:57.73
Max Shank
Oh.
01:05:07.19
mikebledsoe
About I'm breathing through a sphere and I'm breathing into the bottom I'm breathing into my back I'm breathing into the top all of that equally I can I can breathe just into the bottom I can breathe just into the top I have control over where the air flows and I do things like tape my mouth shut. At night to make sure that I'm only nose breathing and game changer and I don't have to take my mouth shut for it to stay shut. But I Still do it just to you know, be sure and so ah for.
01:05:29.25
Max Shank
Breathe through that nose Hell yeah, that's game changer for a lot of folks.
01:05:41.41
Max Shank
Ah.
01:05:46.42
mikebledsoe
For that if if your breath isn't handled then you know everything else will fall apart and put in a lot of emphasis. Ah after Breath Spine being able to feel and articulate at each Vertebrae I Found to be extremely useful and I found that once I. Put my attention there. My athleticism overall went up my hand-eye coordination improved all that happened when I started putting attention on the spine and I have no you know Spine pain anymore whereas I used to have a lot of core issues and.
01:06:21.20
Max Shank
Plus your chakers. We all lined up to line the chakris.
01:06:25.39
mikebledsoe
Gotta gotta align no chakra's baby and and yeah it ah it helps so those are my 2 big things in regard to movement and then obviously you just got to learn how to eat you got learn what works for you experiment.
01:06:36.11
Max Shank
The fitness side.
01:06:43.50
Max Shank
We could do a whole thing on the fitness side of longevity because you know all the moving parts are so important you know your feet taking care of your feet I don't want to drag out this conclusion too long, but there's an old Chinese proverb that says we age from the roots up and I don't necessarily.
01:06:44.91
mikebledsoe
I'm a big. Yeah.
01:07:03.50
Max Shank
Live my life by Proverbs I don't know the origin of but I think it is still good to take care of your feet.
01:07:10.28
mikebledsoe
Ah, yeah, so ah, we're just hitting the top ones all right? Yeah, we could go on and on on that so in regard to finance and the money. What's ah overall securing your future.
01:07:28.40
Max Shank
Number 1 thing number. Yeah, we sure did I think you gave us a little mini crypto master class there ah teaser it's coming soon. Ah, get get comfortable with less.
01:07:28.91
mikebledsoe
We we I think we talked primarily about that. But yeah, just quick synopsis.
01:07:47.37
Max Shank
To start out with you know, you're not gonna find a lot of fulfillment from buying yourself a bunch of toys and being fancy. It's way better to start hungry and stay hungry. Ah eat until you're 80% full, go ahead and defer gratification. You can work for money or you can put money to work for you and people put themselves in debt trying to keep up with the joneses and it's all status games. It's totally not worth It should ah start with a very spartan lifestyle if you're already kind of in. And extravagant mode. But you're not really comfortable with your finances like you know it's a mistake you got to be able to defer gratification for later and those are the people who earn the most is the ones who can. Be a little bit more patient so that's probably the first that's probably the first thing deferred gratification. Don't get into debt.
01:08:46.74
mikebledsoe
Yeah, ah debt debt is mainstream. So ah, it's incentivized right now. Um I'm not gonna say all debt is bad I carry some debt which I would consider be good debt.
01:09:04.79
Max Shank
Like a house.
01:09:05.75
mikebledsoe
But um, like a house something that's low interest. It allows me to free up cash to put into things that are higher return, but my debt is optional if I wanted to clear out my debt right now I could do it. It's just not a financially intelligent move. Um, because where the money's at otherwise is is creating way more earnings than than what I would save on my debt payments on the on the interest. So yeah, kill the debt create Value. So always be. And what I mean by create value is be in touch with the things that other people value. So We we talked about writing as being one of the most valuable things I agree with that learn how to communicate Well ah one of my previous mentors. He wrote a book. Called last safe investment and categorized labor in the 4 categories one was physical labor technical labor creative labor and interpersonal labor and with each one of those the value goes up so labor is physical. Labor is the lowest value technical labor is the second lowest value. And then Creative labor is the next one up and the highest value labor is Interpersonal. So ah, you know writing being Creative. There's technical aspects to it of course but leadership sales things like that being interpersonal copywriting is something that bridges the creative and interpersonal. So. When you're thinking about which what type of labor you want to improve on unless you're going to be a professional athlete. Ah, you're going to probably see the biggest return on developing yourself as a leader or in your creative abilities and then last. Money for me is invest in emerging technology pay attention to what technologies are emerging that's going to be a good wave to catch. But as we talked about you know with emerging Technologies A lot of those will go to nothing. So. Choose wisely.
01:11:16.97
Max Shank
I I like it you and I have different investing strategies and and it's good I would add to the labor set well enough at all at all what you compare to um.
01:11:24.96
mikebledsoe
Yeah I think we both do we both do? well. So it's neither 1 or wrong. Yeah.
01:11:35.78
mikebledsoe
Yeah I mean compare.
01:11:36.89
Max Shank
You know, ah compared to compared to dwayne the rock johnson I'm fat and broke. So it's all it's all the way you compare to but I would add to the labor side of things find at least 1 thing that has an expent.
01:11:43.33
mikebledsoe
Ah, yeah.
01:11:55.56
Max Shank
An exponential return on your time ah write a book make a video course do something where you can invest a lot upfront and it can continue selling forever. Um, that has been. Like a cheat code for me personally the fact that you can make something 1 time and sell it thousands and thousands and thousands of times it is crazy. No no postage required I can so like I can send electrons through the air. Basically.
01:12:24.35
mikebledsoe
It's pretty cool. That's right that that was the first thing that attracted me to doing anything digital product I go oh I don't have to the inventory is going to cost me the same amount every month. No matter what? which. You know say I I'm paying for a membership site. It's a hundred dollars a month to be able to run the site and and run my email and all that hundred bucks a month. So if I sell 1 or I sell 10000 it cost me the same exact amount of money. Perfect.
01:12:44.77
Max Shank
Right? wild.
01:12:58.15
Max Shank
It's so wild to think about what people went through before you know they would mail letters with a return envelope postage paid that sort of thing and hope that people responded and then they would have to ship them something physical afterward. It's a lot of steps.
01:13:05.66
mikebledsoe
Um, yeah, yeah, yeah, a lot of stuff all right Friendships social relationships.
01:13:15.93
Max Shank
So oh you should be your own best friend and don't engage in mind poisoning groups schizophrenia if you can avoid it I know it's interesting and kind of exciting to get angry. Certainly ah use this podcast as an outlet for that. Sometimes I think they just start yelling and Mike's over there like what is going on with this guy I love it. Ah so you you should. You should be your own best friend and.
01:13:38.20
mikebledsoe
Ah, sorry folks.
01:13:51.54
Max Shank
Not engaged in things that are harmful for you. You should reach out to people who are the way that you would like to be and genuinely show interest in their lives and ask how you can help them. And it's so Cliche but giving what feels way better than getting actually especially once you've already got a bunch so I would say ah be very selective in who you are friends with because you will become like them and. And reach out even if you don't have a specific reason that's been a hard lesson for me because I haven't done that most of my life unless I have a concrete reason for calling somebody I Never just call to see how they're doing but it can be good if you want to nurture a relationship. It's It's like a garden and. Fuck Man what is life without friends.
01:14:49.95
mikebledsoe
Yeah, yeah, totally agree. Um, yeah on the on the social side on the friends you know I I've had a lot different groups of friends I've lived in different places and you know what if you move cities. You have a huge opportunity to. Make sure that you surround yourself with the right people if you're living in the same place and participating in the same things and going to the same gyms and bars or whatever. It's very hard to change that friend group I've found that every time I moved I I improved my quality of of circle. And I do stay in contact max is one of these I met in San Diego and we still stay in contact even though I moved so you did you did not everyone made it. Ah I did like an irish goodbye for the whole city of San Diego
01:15:36.95
Max Shank
Survived the mass Breakup You just you just you? you just skip town so you can like ghost. Ah yeah, ah.
01:15:49.16
mikebledsoe
Just like people were like did you leave town I was like yeah man I moved out six months ago but ah but I ah yeah I have since really gone with how I feel with people versus trying to basic think. Who do I want to surround myself with people I want to be like all that I still do that. It's very nice. It's good to do when I choose to go to an event I go to events I don't go to a hundred dollar event anymore because it's gonna be full of $100 people I want to spend at least 2 3 grand because if it's a. Business related event because I know who I'm gonna be surrounded by people who are willing to drop that kind of cash. So I do think about it in that way but also my my personal friend group here in austin iss really like these are people I feel comfortable with when I lead the conversations. I'm I'm put in a much more positive mood. Ah you know I the the people I hang out with most since I've been here I either I either walk away from hanging out with them with weight with. Almost like it's automatic, subconscious programming that improves my health my wealth or or my relationships in some way like 1 of my friends my my crypto trading friend I hang out with him and the way he talks about money and investing and the energy he holds with that. I soak it up and I become way more positive about it and I start thinking about things differently and a lot of it has to do with how he feels and how he transmits that feeling in a group and so yeah I encourage people pay attention to how you feel when you're with people and after you've been with them.
01:17:22.52
Max Shank
Ready.
01:17:39.60
mikebledsoe
And that's going to make a huge difference.
01:17:41.89
Max Shank
I Think that's a great way to close it out. You gotta trust your gut and see how you feel before during and after you're around certain people. You could say the same thing about food. You gotta trust your gut because no one else is gonna know what you should be eating only your gut knows.
01:17:51.18
mikebledsoe
E.
01:18:01.84
Max Shank
So sorry I can't tell you exactly how many almonds to eat at nine thirty every morning but you're just gonna have to ah try try it out. Try it out and see how you feel and I think those are the 2 best examples of when to.
01:18:08.94
mikebledsoe
18
01:18:20.29
Max Shank
Really trust your gut So that's great. Awesome dude. Love you Thanks for listening everybody.
01:18:20.43
mikebledsoe
Yeah, easy my brother love you have fun today.
