Demonetization (or Dematerialization) - Deepstash
Demonetization (or Dematerialization)

Demonetization (or Dematerialization)

The term coined by futurist Peter Diamandis is a process by which technology is rendering previously expensive products or services much cheaper — or even free. 

It's mainly happening because we are moving hardware products to software. For example, the phone today has about $1M of applications from a decade ago.

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MORE IDEAS FROM 5-Hour Rule: If you're not spending 5 hours per week learning, you're being irresponsible

Charlie Munger
“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none. Zero.”

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Learning is an investment

Benjamin Franklin said, “An investment in knowledge pays the best interest.”  It's the reason Warren Buffett (& other successful individuals) spends 80% of his time reading. 

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Automatization Problem
People at the bottom of the economic ladder are being squeezed more aby automation, while those at the top have more opportunities and are paid more than ever before. 

The irony is that the problem isn’t a lack of jobs. Rather, it’s a lack of people with the right skills and knowledge to fill the jobs.

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  1. Identify valuable knowledge at the right time. Things move fast. 
  2. Learn and master that knowledge quickly. Take advantage of existing opportunities. 
  3. Communicate the value of your skills to others. 
  4. Convert knowledge into money and results. Get a better job, demand better fees, etc. 
  5. Learn how to financially invest in learning to get the highest return. Find the right “portfolio” of books, online courses etc. 
  6. Master the skill of learning how to learn. 

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Mahatma Gandhi

“Live as if you were to die tomorrow. Learn as if you were to live forever.” 

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Knowledge has Compound Value

But, unlike money, when you use knowledge or give it away, you don’t lose it. In fact, it’s the opposite. The more you give away knowledge, the more you remember it, connect it with other ideas, etc. 

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Knowledge is the new money. While goods and services are becoming demonetized and replaced by machines, knowledge is becoming increasingly valuable.

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RELATED IDEA

The 5-Hour Rule

The most successful, busy people in the world dedicate at least 5 hours a week to deliberate learning.

The 5-Hour Rule is the most critical practice we can all adopt for long-term career success. However, almost no-one takes it as seriously as they should.

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... is someone who becomes competent in at least 3 diverse domains and integrates them into a top 1-percent skill set.

In another words, they bring the best of what humanity has discovered from across fields to help them be more effective in their core field. 

Specialists, on the other hand, just focus on knowledge from their own field.

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Flow is the state of mind

... where we are so immersed in a feeling of energized focus, full involvement, and enjoyment in the process of the activity that we lose sense of space and time.

It is thought to be triggered by a clear set of goals and having your skills pushed just beyond their breaking point while receiving and reacting to continuous feedback. Through Flow, we can work more and be happier, feel more accomplished, and get better at our jobs. 

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