Joseph's "Just My Thoughts"

‘Virtual’ means that it does not exist, but it is assumed to exist. So, ‘virtual currency’ is regarded as a non-existent entity, and the act of trading virtual currency is considered a bubble. However, virtual currency exists as an electromagnetic combination, that is, ‘bits (bytes)’ among the constituent elements of matter, and this bit exists on an atom. It exists in a different form, not non-existent. Therefore, it is real, not virtual. Most of the legendary investors have overlooked this point. Ultimately, the bit depends on the atom. As long as the atom doesn’t die, the bits just exist together. - Joseph’s “just my thoughts”

The value must exist when both universality and scarcity coexist. Universality is a property that anyone can recognize, whereas scarcity refers to limited possession. In other words, recognition should be universal so everyone can understand it, but the rights to possess or use the object should be restricted. The universality of perception has been influenced by viral promotion, such as word of mouth and media messages, and now digital networking is taking over. Limiting physical possession and use causes scarcity. Before the digital age, this was protected by spatial limitations; however, with the widespread adoption of digital networking, encryption technology now enforces these limits. The restriction of possession and use means that a master sets the physical boundaries of the scarce object. All businesses must satisfy these two contradictions simultaneously to achieve economic benefits. - Joseph’s “just my thoughts”

In markets that trade natural products, such as agricultural, fishery, energy, and commodities markets, oversupply or at least excess supply causes problems. When supply is high, prices plummet, causing significant damage to producers; conversely, when supply is low, prices rise, and consumer sentiment diminishes. As a result, both suppliers and consumers suffer. The challenge is that it is difficult to intentionally set the level of production. Because of this, a futures market develops in situations where we have to accept what nature provides. Futures trading is a method in which a producer and a distributor agree in advance to trade the price of an item to be produced in the future, without knowing the exact quantity yet. In other words, in futures trading, the focus is on price rather than quantity. Since it is challenging to stock items that require freshness, futures trading offers advantages by allowing transactions to be made in advance. However, if supply fluctuates too much,...

Life only changes when we have great ideas and take action. If we work hard without great ideas, our days will likely feel meaningless. Conversely, if we only think about great ideas without taking action, nothing will actually change. Great ideas aren’t just big thoughts; often, they are small and trivial ones that are easier to implement. No matter how many doors there are, if we don’t open them, they’re just walls. - Joseph’s “just my thoughts”

Did you know that modern space rockets are influenced by Roman heritage? In other words, the size of current rockets still reflects standards set during the Roman era. Rocket components were transported by rail to launch sites and had to pass through an intermediate tunnel. It was more practical to limit the size of the rocket rather than build a new tunnel. The track width was determined by the steam locomotive, which was adapted to match the width of British wagons pulled by two horses. The width of the track is based on the hips of the two horses, which in turn are derived from the size of a Roman chariot. This phenomenon is called Path Dependency. Humans tend to stick with the past. - Joseph’s “just my thoughts”

Will you hire a representative or an assistant to help you? There are two key factors to consider when hiring employees for a company. Hiring a representative involves selecting someone to act on behalf of the president, giving that person a certain level of discretion, and emphasizing support for tasks they cannot handle or are difficult to decide. Hiring an assistant involves choosing someone to help the boss with their work. The main goal of HR management is to develop internal agents; without this, the company can’t grow. That’s why we focus on hiring individuals with good character and a strong foundation from the start, seeking someone who can potentially replace the boss. So, why does the boss exist? To delegate authority and take responsibility for those they assign. - Joseph’s “just my thoughts”

There is no eternal depression or eternal boom. There is no everlasting suffering or peace. Everything follows a cyclical pattern of good times and bad times. The problem is that I can’t control the situation on my own. This means I need to change my attitude and behavior according to the circumstances. During a recession, we should prepare for prosperity, and during times of prosperity, we should prepare for recession. Our goal is not to guess or imagine but to stay aware of changing circumstances and their consequences. Do not settle for the current situation; instead, read and prepare for even minor changes. - Joseph’s “just my thoughts”

Information asymmetry happens when buyers and sellers have different levels of information, leading to adverse selection in the market. Adverse selection occurs when one party, either the buyer or the seller, has hidden information about the product and makes buying or selling decisions based on that information. For example, in the used car market, buyers cannot know everything about the cars and cannot fully trust them. Because of this, they often try to buy used cars at lower prices to evaluate their quality. To make buyers feel more confident, sellers might promise to repair the car free of charge if it breaks within a year after purchase, protecting themselves against adverse selection. A successful transaction depends on strategies that align with the market’s specific characteristics. - Joseph’s “just my thoughts”

No matter how hard you work or how busy you become, it’s essential to maintain initiative in your life. When I lose control of my life to others, I feel as though I’m living a life of servitude. The most important way to preserve initiative in life is to consistently take action, even if it’s small, as part of my daily routine. Theologian Karl Paul Reinhold Niebuhr prayed: “Let me do my best in what I have to do, give me the courage to give up what I cannot do, and give me the wisdom to judge the two apart.” - Joseph’s “just my thoughts”

The reason the human brain is more complex and sophisticated than that of other primates is to facilitate the establishment of social relationships. The brain develops through the senses, and humans must experience them to sense. Without experience, the human brain cannot perceive. All social experiences contribute to the development of a social brain. The broader the relationships, the more socialized the human brain becomes. Through experience, the human brain can compare and organize information to communicate effectively with other brains. To empathize, we mirror the brains of others. Who we are with is also neurologically essential. - Joseph’s “just my thoughts”

Warby Parker, an eyewear brand renowned for its direct-to-consumer (D2C) business model, and Allbirds, an eco-friendly shoe brand that went public on NASDAQ in 2021, exemplify innovation in connecting manufacturers directly with consumers without intermediaries. This model promotes a positive image by endorsing an eco-friendly business approach. However, the disclosure of the companies’ financial statements revealed that both had accumulated losses greater than anticipated. While it would have been ideal for manufacturers to supply products directly to consumers, the burden of inventory increased along with rising administrative and marketing costs. Distributors in the middle shared profits, but they also shouldered the financial burden. Choosing eco-friendly options often incurs higher costs due to the search for alternatives, which can lead to accumulating losses. Pollution negatively impacts both consumers and suppliers, and business deficits further inflict additional damage that c...

When an organizational leader is busy, the organization is at risk. There is a high probability that work is abnormally concentrated on the leader or that the tasks currently being pursued are unsuitable for the organization. If leaders fail to address the right issues due to their own busyness or if tasks are not properly distributed within the organization, a crisis will soon arise. Being busy does not equate to sincerity. Instead, we must recognize the warning signs of limitations to survive. - Joseph’s “just my thoughts”

No matter how smart you are, if you don’t exchange values, you’ll starve to death. For one thing, being self-sufficient enables survival, but self-sufficiency is only possible if you have your own assets and can borrow from others. However, even with existing assets, one can only survive through minimal labor and effort, which means engaging in productive activities. Thus, having great intelligence and applying that intelligence to productive activities are two different things. Even if you aren’t brilliant, you can survive if you are productive. It’s essential to identify the productive activities in which I excel and those where I need improvement. If I understand that, I must act without looking back. - Joseph’s “just my thoughts”

Some people live because of ‘doubt,’ others because of ‘confidence,’ and some because of ‘guess.’ Often, people make a living based on the positive factors we think of, but the opposite is also true. In fact, there are instances where positive factors threaten livelihood. Some people thrive on accuracy and certainty, while many live amid the unsettled and uncertain. The world is not always bright. There are many different ways to live and principles to follow. What do I do for a living? - Joseph’s “just my thoughts”

People often say that as one gets older, time passes more quickly, while in youth, time seems to move more slowly. The reason individuals feel that time goes by more slowly when they are young is likely due to a decline in memory. As children, people have limited experience, so everything feels new, and they tend to remember new things well. Having less experience translates to fewer memories. Because there are so many new memories, children perceive time as passing slowly. However, as people age, experience accumulates, and they typically become better at predicting situations, making it easier to cope, resulting in fewer surprises. Since these experiences are not exceptional, they tend to forget them, and when reflecting on the past, there’s little to recall, creating the sensation that time flies. Among the aspects of aging, what is scarier than the decline of the senses is the deterioration of expectations. If the flavor of food becomes predictable based on accumulated experience, ...

Wealth is the state of accumulating added value. Most of us consider money a tool for accumulating value, but there are many other forms in this world. However, all other values are typically expressed as ‘price,’ which is a value compared to goods in terms of money. Therefore, a preconceived notion exists that most means of accumulating value are strictly monetary in nature. Nevertheless, various tools for accumulating value are available, such as jewelry, luxury goods, bonds, and real estate. The value of goods produced by labor is referred to as ‘price.’ Labor can only be directed toward production when the price level is slightly higher than the value of money. Hence, it is normal for prices of goods to continue rising. If they rise excessively, it leads to inflation; on the other hand, if they fall below their value, it results in deflation. There is a problem between the gaps. - Joseph’s “just my thoughts”

Production and processing create added value. Wealth is the accumulation of this added value. Distribution shares this added value among economic entities. Cultivating coffee trees generates added value for green coffee beans, while roasting those beans adds further value to the coffee product. Grinding the beans and extracting them with water creates and consumes the added value of a cup of coffee. Finance enables the distribution of the added value generated by this production and processing through the use of money, facilitating the easy accumulation of that value. However, finance can leverage its power only because there was prior production and processing. The challenge arises when the compulsory circulation power of currency enables the ownership of labor and resources that underpin production and processing, along with real estate, which is foundational to its existence. If production, processing, and distribution are dictated by money’s compulsory circulation power, who will g...

‘Luxury’ has a moral original sin because it is impractical and creates a sense of incongruity between the relatively rich and the poor. Thus, it is true that ‘luxury’ also carries a negative image. However, the rich do purchase luxuries regularly, with a few practical exceptions. This is because luxury items not only incur less depreciation, but their resale value often exceeds the purchase price over time. Think of luxury handbags or jewelry. To preserve or increase wealth, you must have an eye for luxury. This doesn’t mean you should live in luxury; rather, it highlights the challenge of maintaining your accumulated wealth unless you change your habits and attitude toward acquiring assets. - Joseph’s “just my thoughts”

The universe we live in is empty mainly in terms of matter density. The protons and neutrons that constitute matter are called baryons, and approximately one proton exists in a space of 19.8 square meters. However, when the universe expands rapidly, the cosmic background radiation, known as a photon, is produced, resulting in two billion more photons in a grain of light. Since this light is a microwave, which has low energy and a long wavelength, it cannot be seen by the human eye. Therefore, humans, who only perceive visible light, consider the universe and the night sky to be dark. If there were aliens capable of seeing microwaves, the universe would be shining very brightly. The truth is that nothing has changed, but if the standards shift, it’s an entirely different story. - Joseph’s “just my thoughts”

Diving into the water without an oxygen tank is called ‘free-diving.’ It is a form of apnea diving in which divers must hold their breath for an extended period while diving deep into the water with just one breath of oxygen. The difficulty in holding the diver’s breath during this time is not due to a lack of oxygen but rather an increase in carbon dioxide concentration. In other words, if you keep your heart rate low and your metabolism slow, you produce less carbon dioxide, which allows you to dive for a longer duration. The only way to maintain a low heart rate is to remain as calm as possible. Maintaining calmness has numerous benefits in life. - Joseph’s “just my thoughts”