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Crypto is tricky… and volatile…

I have a negligible amount of crypto but I like following the space because of how exciting it seems.

Well, last week was a little too exciting for TerraUSD and Luna.

Terraform Again Halts Blockchain Behind UST Stablecoin, Luna [Bloomberg] – “TerraUSD was one of the largest and most closely-watched algorithmic stablecoins before its intended 1-1 peg to the dollar disintegrated this week. The unraveling sent shock waves through crypto, triggering deep losses before sentiment stabilized.”

When they say that you should invest in things that you understand, this is what they mean. And this is not a dunk on crypto, just a cautionary tale that has been repeated over and over again in a variety of areas. It just so happens that crypto is a hot topic these days.

What Do We Measure Success By? [Rich Life Habits] – “For as long as I can remember, I wanted to be successful. When I was playing little league T-ball, I thought the championship was success. When I cut my neighbors’ lawns after school, I thought I was making the big bucks. Then I got serious about school and thought that a B or a C was a failure and that I would ruin my life if I got those grades. Once I got into the workforce, I thought getting the biggest salary with the highest title was what I’d define a successful life by. These definitions of success are ones that I adopted from others’ influences.”

I loved the first few seasons of Top Chef, then we stopped watching because our DVR freaked out and we lost track of it. I’m both amazed and not at all surprised the show has endured.

The Real Prize of Top Chef [Eater] – “Top Chef has turned cooking into entertainment and chefs into entertainers. But as opposed to an actor or a vaudevillian, a chef’s primary means of expression and area of competency is cooking. There is no substitute for enjoying cooking better than eating it and no more accessible place for the public to eat than a restaurant.”