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Take the money

I think the pandemic has taught us that the internet is FULL of bad advice and the worst part is that too many people believe it!

And Twitter is the apex of bad advice.

If you ever have the choice between $500,000 and [something else] and that [something else] isn’t “walk away because it’s drug money and you’ll be hunted down,” take the cash.

A Guy Who Said A Dinner With Jay-Z Is Worth More Than $500K, And More Of This Week’s ‘One Main Character’ [Digg] – “This week’s characters include a guy with ill-advised financial advice, an Atlantic staff writer who claims rural Americans take animal medicine all the time, a Congressman who claimed “real Americans” are already over the pandemic and the producers who came up with the worst game show idea ever.”

I made a mistake. NFTs are going to be much bigger than I anticipated. [The Pomp Letter] – “So what exactly is driving all this interest in non-fungible digital files? The short answer is that NFTs live at the intersection of a few different tailwinds. The positive perspective is that digital natives would rather own digital goods than physical goods, which means that we are watching the digitization of the collectibles industry. These digital natives want to use the NFTs as a way to play games, transact with each other, and generally recreate the collectibles industry.”

Are We in a Melt-Up? [Of Dollars And Data] – “Of all the things that you should do during a melt-up, the most important is to get invested. Do not sit in cash. Why? Because even if the market does eventually return to its prior levels, sitting in cash will destroy you psychologically. Just imagine how hard it would have been to sit in cash during the DotCom bubble from 1995-2000. For five years you would have to watch everyone around you (even people dumber than you) get rich while you sat on the sidelines. It would be infuriating.”