Time Preference. It is a phenomenon where the more distant a result is from the present, the more rational decisions seem, while closer results tend to lead to more emotional choices. When thinking about the distant future, we usually approach it rationally. However, when making decisions right now, we often act emotionally instead of rationally. This time preference significantly impacts areas such as finances, health, work, sleep, procrastination, and texting. For example, dieting is hard when delicious food is right in front of you; people often say it starts tomorrow, not today, because weight loss doesn’t happen overnight but over weeks or months. - Joseph’s “just my thoughts”
We believe that we communicate with each other by exchanging text messages through mobile messengers without ever having to meet in person. Furthermore, we believe that property rights to land are simply changed by altering the name on the land document without physically moving the property. A transaction can only take place if you first conceptualize it. There’s no deal if you don’t get others on your side by conceptualizing your assets. The “assetization of value” that prices an asset creates a transaction target, and the conceptualization of that target makes it a transactionable credit. To succeed in business, you must be good at conceptualizing assets and assetizing values that others quickly agree upon. That’s the basis. - Joseph’s “just my thoughts”