The Wealth Transfer has started but it is not what you think

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If it is your first time here or you want to binge-read past letters, here are all of them.📰

These are the highlights of the past week!

1/ If you plan never to work again, the following paragraphs are vital.

If you haven't watched the news, the stock market is crashing, the crypto market is crashing, tech companies are firing people left and right, and Startup investments have been frozen. 📉

This is what I call a "wealth transfer event".

A couple of years ago, I owned a Wealth Management firm, managing millions of high-net-worth Individuals, Entrepreneurs with exits, and Celebrities, and I've seen a couple of patterns.

The first pattern is those who sold whenever the market was going down, waiting for the market to go up and then entering again. These are the people that lost a tremendous amount of wealth.

The second pattern is those that never changed their investment habits (invest after you do your research, don't change your investment thesis UNLESS your data has changed). These lost the least amount of money.

The only group that made insane returns was the one that I was advising, and my thesis (the last 8 years) is the following:

1. Never listen to what billionaires do. They have an infinite amount of cash to put into the game, and you don't.
2. Money never stays in one place. If something goes down, money should be flowing somewhere else. Unless...
3. Someone is trying to shake the market to make even more money - thus transferring your wealth to them.

Think like you own a multibillion hedge fund: if you don't believe in tech companies in the US, where in the world could you place your money and NOT GET FIRED?

Should silly? Welcome to the financial industry.

2/ Instagram has added NFTs and all I am waiting for is for Meta to release their own crypto wallet.

Did I tell you that a "fruit" company is working on its own crypto wallet?

3/ Four years ago, I wrote an article about why your company sucks and will never let you work remotely.

COVID-19 definitely helped my case as many companies that went remote are now crawling back to the office.

For example, Apple just lost its Director of Machine Learning because they wanted everyone back in the office.

I keep hearing tons of engineers (especially in Europe) commanded to return to their desks.

If you are one of those engineers, send me a DM, and I'll send you a list of kick-ass companies that hire remote people.

4/ Crypto Startup funding is unfazed. This really blows my mind.

The crypto market is down. The stock market is down. Startup funding is down. 📉

But if you are a crypto Startup - confetti! 🎉

The main driver is that all web2 companies haven't slowed down their investments in the Metaverse.

Maybe the new dot-com bubble is just a dot-Ether bubble?

5/ Did you know that you can host your website for absolutely FREE?

One of the first steps you have to do when building your startup is to create an appealing website describing what you do and why your product is the next best thing.

Many entrepreneurs spend a ridiculous amount of money on marketing agencies to build their brand identity and a (mediocre) website before they even worry about building something useful and their product-market fit.

Github Pages is a free service from GitHub that allows everyone to host multiple (static) websites and connect them with custom domains.

But there is a catch!

If you are an engineer, don't fall for overengineer stuff. Just set up a website that does the work and publishes it. You will always have the chance to improve it later in the future.

Focus on things that matter! 🔥

See you next week. 🚀

-- Jon V (as in Victory)

- Thu 12 May 2022