results and hard work

I’ve considered myself a hard worker for a while now

I remember getting up at 4:30 AM to practice two hours of basketball before school started because after school I would have 2-hours of rehearsal for musical theatre and I’d be too tired to play basketball then.

I wanted to balance both basketball and theatre as well as maintain top grades.

At Villanova, I’ve constantly taken a full-credit load because I want to learn as much as possible given the fixed costs of my semester tuition.

But I have not necessarily been seeing the results of my ‘hard work’

Which makes me come to two conclusions:

  1. I am either unlucky / the universe is unfair, or:
  2. I need to work harder

Option 1 I can’t control.

Option 2 I can, which means it’s time to amp it up and keep going. I haven’t burned out yet, I’m just getting started.

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Necessary and destructive happiness

Happiness is a just discrimination between what is necessary, destructive, neither necessary nor destructive, and what is necessary and destructive

We need the necessary essentials: food water shelter

We should avoid the destrutcgive: violence hatred and corruption

There are things that are necessary but also can be destructive: the oil industry, corporations, and burning the Amazon forest (for economic growth for Brazil)

But happiness is having a surplus of things that are neither necessary nor destructive because those things are often the best

Air conditioning is neither necessary nor destructive, but I often find myself the happiest when I am able to sit on a comfy couch in a well-AC’d room in the summer, eating take-out sushi and watching Netflix with my dear friends and family i care most avout

Winners and Losers: a cashless society

In Sweden, cash retail transactions have fallen 80%

Digital transactions in China have risen from 4% in the past 20 years to 34% in 2017.

A cashless society provides many benefits to society

Countries spend roughly 0.5% of their GDP managing physical cash

Consumers have better tracking of their money in digital forms, more convenience, and quicker and easier access to payments

Black market transactions dealt in cash will be strapped down

But consumers who value data privacy will also lose, as governments will likely use digital transactions as data

The poor and unbanked will lose out if cash is phased out

And society may become less democratic, with more power funneling towards institutions, governments, and financial corporations who control the digital system

 

Calculated risks

We make calculated risks every day – intuitively

How quickly can I jaywalk without getting hit by a car?

What if I run through a yellow light?

Eating spicy food

As I learn more about investing and trading, I’ve tried to apply those skills to life in terms of making calculated risks.

But not just intuitively. I love the idea of making decision matrices or weighing the options at hand.

My senior English thesis in High School was about the Paradox of Choice and how too many options in this world can put us in a state of paralysis of analysis. I found it interesting because I’ve used that knowledge to better my understanding of making – and going through with – certain decisions I make.

Of course, life offers many options. I chose Villanova over Toronto. I chose Economics over Finance. Every choice I make, I have to forsake something else due to opportunity cost.

But being too focused on opportunity cost may make your completely paralyzed and fail to actually make a decision.

And so there are two parts to being a great decision-maker: taking calculated risks (intuitively and planned), and making decisions and going through with them.

Being a great decision-maker. That is a strong skill to have.

I wish I hugged them

Today I had to say farewell to my co-workers as I leave for Hong Kong tomorrow

Because I switched departments half-way through my internship, I essentially had to say goodbye to two departments of people

Although short-lived, 3-weeks, I still got to know these people

And I’d be lying if I said I didn’t get a little sentimental

It’s the realization that people, humanity, all around the world, is beautiful

All of us, each living these lives, each pursuing individual goals, but together forming a community with other people doing their own sh*t

Hong Kong culture is not something I can say I am fully familiar with. And because I wasn’t sure of the etiquette, I didn’t get the feeling that a hug was appropriate.

But I wish I hugged them

I don’t know if I’ll ever see these people again.

But it’s the same as when I had to leave Singapore last year (where I did get to hug my co-workers before leaving)

3-weeks and I formed genuine connections. Doing this around the world makes me truly and fully love humanity.

This life is so beautiful.

Just make sure you hug the people you care about.

Add Oil, Hong Kong.

It’s actually so difficult to go your own path

Going your own path is always difficult and it always will be

Those that forge their own path are either crazy or maybe just crazy enough to succeed

But if you’re not willing to break the societal mold that we’ve fabricated, then you won’t survive on that arduous path

The path is meant for people who don’t care about what others think

I’m still trying to learn how to foster that type of mindset

Then I can truly live life on my own terms

The fear of UBI

With the rise of AI and robotics, there is a lot of fear surrounding the job market and job losses in the developed world.

In Kai-Fu Lee’s book, AI superpowers, he mentions three potential solutions to the rise of AI

  1. Retraining people
  2. Shifting people (maybe 3-4 day work weeks?)
  3. A general minimum income, or universal basic income

He notes that although a UBI may be necessary, the fear is that the winners of the AI revolution will simply use UBI as a sedative for the real problem

The real problem is that with any revolution, particularly with the respects of technology and the digital era, the winners are becoming bigger winners in the economy.

Facebook has low or no marginal cost for pumping out ads

Advanced AI will be able to do more for less

And the rich will get richer, and instead of finding a solution, governments will put a “bandaid” called UBI for those that fall behind in the revolution

Which is why education is important. Which is why action is important.

a Universal basic income, no strings or restrictions attached, may have the issue of making society complacent.

He proposes instead to instead offer a societal standard income with criteria to meet.

For example:

  1. Educators, teachers
  2. Public workers, government workers
  3. Social workers
  4. those who contribute back to society in some way
  5. Meeting criteria of education and retraining programs

We don’t want to live in a world like Wall-E, where AI and robots are so advanced that humanity falls complacent, inactive

AI and robots will increase productivity. But humanity needs to continue running the race as well.