ERIC KIM AI ESSAY

Financial death 

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After surviving to insane potentially conehead about to be triggered moments I had was one bitcoin first fell from $126,000 down to $60,000 and just like a month and a half very unexpected… And …

After surviving to insane potentially conehead about to be triggered moments I had was one bitcoin first fell from $126,000 down to $60,000 and just like a month and a half very unexpected… And also more recently, after three months of grinding from $60,000 to 70,000, mid 75,000… and then getting some relief as bitcoin broke $80,000 after three months of hell,… hitting $82,000 as the clarity act proceeded, but, once again this hell and chaos I think from the Iran tensions, and also potentially Iran selling a huge supply of her bitcoin to the network because, she started to charge tolls across the strait of Hormuz in bitcoin.

Anyways, at least today… Finally, I was able to sleep, after probably the worst 24 hours to 48 hours of my life the last two days… Some epiphanies:

First, I think the only number one rule in life is avoid 100% financial death. Why?  nothing else matters.

This means, never ever ever invest in something in which it has the chance of going to zero, or… Doing some sort of leverage in which you get a liquidation price, in which you could literally lose 100% of your net worth, 100% of your family jewels with just one tail event and extreme volatility that usually settles in a week or two. 

Second, freedom is paramount to everything. The point of having money and investing and stuff… Isn’t to become rich and buy a bunch of stuff, but instead, to simply not have to work. I think this is a hard concept to grasp because about 99.999% of the population has to work for a living… Whether you earn $20 an hour as an Uber driver, $500,000 a year as a tech worker, $10 million a year as a tech CEO, whatever. 

Literally when you have a financial gun to the side of your head, and there is even like a small chance of death which is 100% out of your control… i think i could easily say it could be one of the worst cortisol inducing things which pumps to your blood every two minutes, constantly, for a dreaded 24 hours.

And even sleep doesn’t help because you lie in bed, with constantly elevated cortisol levels, not being able to sleep. and finally if you are able to sleep, you might wake up at 11 pm just two hours after falling asleep, unable to go back to sleep, or waking up at 2 am, insanely anxious and restless. 

i then had an interesting thought, the difference between working hard and risk, risk taking especially with financial risk taking, especially when it is your own money, the family’s money, your mom‘s inheritance, whatever. 

I think you’re number one goal as a financial steward is to simply not lose the money. And once again it’s not like aggressively growing it, but… Simply not losing it.  so any financial decision that you make which may increase the chance of losing the money is not worth it.