On today's show we have tech titan and best selling author, Jeff Booth. Jeff is a thought leader in the technology space and offers some unique perspectives on what a deflationary world would look like.
Preston Pysh
How does a deflationary world look, or help, or not help an entrepreneur?
Jeff Booth
I don’t think it makes a difference. What I would say is entrepreneur goes and sets, I have this point of view on a market that looks inefficient and I’m going to make it better. And remember, an entrepreneur only wins when they provide value to you. I think that’s where people miss that part of the free market. All of the money is destroyed. The entrepreneur’s time is destroyed. Everything else, unless they provide value for society.
Jeff Booth
So, it’s not those bad entrepreneurs trying to hurt people. They only win when you’re providing value better than the status quo today. So, that doesn’t change at all. Human innovation and drive and everything else, it doesn’t change at all. In fact, that’s the point.
Jeff Booth
Imagine now as a value investor and you have a bunch of Bitcoin and you have cashflow from your businesses and everything else. And an entrepreneur comes to you and says, “I have this idea. I’m going to go up against this.” Would you not give it a look? If you like the idea, would you invest that money?
Preston Pysh
Absolutely. Yeah.
Jeff Booth
It doesn’t have to be credit money. It could be from your balance sheet. I do it all the time. I make these investments all the time. I help entrepreneurs get to the next step. I know the path well, right? So, it doesn’t change that one iota.
Preston Pysh
So, earlier you were talking about this 10X advantage, and that’s something that you really look for when you’re investing in a startup or identifying a startup that has potential to succeed in a very difficult and competitive marketplace. I don’t think you and I have ever talked about this before. But when I look at Ethereum,, it fails this test for me, right?
Preston Pysh
And let me state my opinion and I want you to shoot holes through it. I want to hear your thoughts. So, when I look at Ethereum, versus Bitcoin, Bitcoin’s case for why it’s a 10X value-add to society is it’s putting a peg to a global economy that has no peg anywhere in sight for any country anywhere.
Preston Pysh
So, that’s a huge value-add. When I look at Ethereum,, it doesn’t have a limit on the number of coins that are there, but it does this “smart contract” thing. So the big buzz right now is this de-fi, decentralized finance. I don’t need to have a decentralized platform to own stock securities.
Preston Pysh
Last time I checked, Robin Hood was doing this completely for free. A person can open an account. And the cost to conduct trades for equity is slim to none right now because it’s so competitive. So, I guess I just don’t understand what value captures being created with this de-centralized platform, which we could go down that path, whether it’s even de-centralized or not.
Jeff Booth
It is not.
Preston Pysh
Yeah. So, give us some of your thoughts and do you agree with my line of thinking, do you see it differently?
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28 фев 2021
