Julie d'Aubigny's  father might have worked in the stables of Louis XIV, maybe as an ex musketeer, anyway, a soldier good with horses.She moves to Versailles following her dad at about 9 years old where she witnessed some of the greatness of Louis XIV's court.Her hobbies are riding and fencing. For practical reasons she would dress in boys clothes and she would kick ass with a sword.She was also an opera singer and she saw opera performances hosted in the Versailles stables. Quite some stables, apparently.

Julie who?

She becomes a mistress of her dad's boss: she's 14 and he's 46. Gasp!Then she get's married off just to keep up appearances (husband sent away, while she stays in Paris with the old dude). Get's another lover, this time a more adventurous guy, a fencer. They flee Paris together because he does an illegal duel.They become a duo fencer. They flee to Marseille where they give fencing demonstrations. Julie does mixed gender fighting while wearing men's clothing, so people assume she's a bloke. When people misgender her, she flashes her boobs, silencing the crowd. Gasp, again!

She has a very busy a sex life

Her dad and her official husband are not around, so she's more in charge of herself than other women in her time.She sings duets with the adventurous guy in the Marseille opera and gets admired for her low voice and her beauty.Then she gets herself a new lover: a woman this time, a daughter of a local merchant. They fall in love, but her family sends her to a convent. Julie enters the convent as a novice and then they escape when a fellow nun dies and they steal her body and burn it. They escape while the nuns try to put out the fire. They get caught and Julie dodges an execution.

Woman lover

She is challenged to a duel by a dude who doesn't know she's a woman and she wounds him. Then she takes care of him, and not surprisingly, they become lovers for a while.She's off to Poitiers next where she's taking singing lessons.Meets a baritone singer, becomes her lover, goes back to Paris. Get hired to the Opera. She's only 17 by this time (talk about really living!!!). Now is when she takes her stage name Mademoiselle La Maupin. She's a star.

Famous & very busy sex life again

Goes to a Paris party dressed as a man and kisses a woman. She get's asked to a duel by some jealous men whom she defeats.She then runs to Brussels and gets involved with a Bavarian prince like figure. Maximilian, the princely dude, can't handle her and tries to give her money just to go away. Auch! She doesn't take them and leaves.She obviously had a temper and allegedly attacked her landlord when he refuses to make her dinner (hangry much?). No judging, I would do the same! :))She beats an actor who tries to seduce her because he's too pushy (wohoo!).

Temper and fights and more lovers

A bit of opera is written for her where the main character is not a soprano (quite unusual). The character is a muslim sword fighting woman. A lot like Julie wouldn't you say?Finally in 1703 she falls in real love with Madame la Marquise de Florensac (a super beauty) and they live together for 2 years in total happiness,  until the Marquise falls ill and dies (soooo saaad).Ironically, it is said that Julie entered a convent (again with the nuns) where she dies at 33. Talk about living fully.

Finally true love (but also death)

Julie d'Aubigny seems to have been quite a character for her time. A famous bisexual sword fighting opera singer who had tones of lovers, amazing success in her career, and managed to find true love, even if short lived.

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Personal Development

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Money & Investments

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You're Dead To Me

Cash transactions were already on the decline in 2019 as consumers switched to electronic payments. The pandemic exacerbated this as retailers and consumers turned to online shopping or contact-free card and app transactions.When people did make the rare cash purchase, they were more likely to keep their change than use it in a subsequent transaction.The US Coin Task Force, formed specifically to address the issue, reported in May 2021 that much of the nation’s $48.5B in coins were sitting in America’s 128m households.

The MIssing Change

In 2021, the Mint produced 14.5B coins, and is on pace to produce another 13B this year, Todd Martin, deputy chief of corporate communications for the US Mint, told The Hustle.But new coins typically account for less than 20% of coins in circulation each year.And because the majority of coins still circulate through the economy via transactions and coin recycling, the Coin Task Force is urging consumers to do their part to “get coin moving.” The action plan is to:<ul><li>Using exact change when making a purchase.</li><li>Exchanging change at banks or kiosks.</li></ul>

Minting More Coins

Where are all the quarters for the laundry machines? Sitting in people’s houses, apparently.

Where the heck is all our change? - The Hustle

When it comes to financial independence, people often talk about increased salary or how much they need for a comfortable retirement.  It’s good to have goals for your savings, income and retirement fund, but it’s unhelpful when we don’t consider why we’re working towards financial independence in the first place.

The need for financial independence

When it comes to financial independence, people often talk about increased salary or how much they need for a comfortable retirement.  It’s good to have goals for your savings, income and retirement fund, but it’s unhelpful when we don’t consider why we’re working towards financial independence in the first place.

Too many blogs that promote financial independence focus excessively on luxury items. However, it's a serious risk when you get addicted to consumerism. It leads to a cycle of earning more and spending more. Many people earn millions, spend millions and still feel they're broke. But, whether you're earning millions or the average wage - if your lifestyle exceeds your income, you'll always live paycheck to paycheck. So when you're earning more, avoid spending more.

Financial independence doesn’t need to be Instagrammable

More money doesn't mean you're financially free. Worse, when we earn more, we often have more problems.  Chasing after money means sacrificing other things, such as your time, friends and energy, so you may barely enjoy life.  Adopting a long-term mindset to building wealth means you don't have to be in a hurry. You can say no to "opportunities" that pay well but don't give you the life you want.

More money doesn’t always mean financial independence

Most people want to earn more and achieve financial independence so that they can stop chasing after money forever.  However, everyone knows that it's better to live below your means. You can always find ways to enjoy life without living from paycheck to paycheck.

Lifestyle is more important than income

When it comes to financial independence, people are quick to talk about six-figure incomes. But simply having more money won't get you there.

Why More Money Won’t Lead to Financial Independence - Darius Foroux

$418 billion Exports in  FY2022 40% growth over FY2021

Bain Report:  1 trillion India Manufacturing Exports in 2028 

<ul><li>supply chain diversification</li><li>Sectoral Advantages </li><li>Government initiatives</li><li>CAPEX infusion into manufacturing</li><li>M&A activity</li><li>PE/VC led investment in manufacturing.</li></ul>

six megatrends driving Indian Exports 

<ol><li>Chemicals</li><li>Pharmaceuticals</li><li>Electronics</li><li>Automotive</li><li>Industrial machinery</li><li>textiles</li></ol>

key Sectors 

<ul><li>India : sixth-largest economy</li><li>3.1% of the GDP</li><li>1.6% only of global trade</li></ul>

Lot of Room for growth 

Top 15 export categories accounted for over 72% of total export

<ol><li>China Covid Lockdown </li><li>China Geo-political Risk </li><li>ESHA :: lesser polluting industries in .in</li></ol>

Supply chain diversification: 

<ol><li>India’s cost advantage</li><li>Strong supplier base</li><li>R&D capabilities</li><li>Samsung, Wistron, and Foxconn </li></ol>

Sectoral advantages: 

<ol><li>PLI outlay of $47.8 billion </li><li class="ql-indent-1"> 	 13 key sectors, resulting in an overall increase in exports. </li><li>fresh infusion of investment of nearly $50 billion, with a production increase of about $500 billion in the next five years.</li><li>electronics, pharmaceutical, automotive, advanced chemistry cell (ACC) battery, solar, and white goods (home appliance) sectors, </li></ol>

Government-led initiatives: 

<ol><li>FDI investments increased by about 65% between 2015 and 2020</li><li>Free-trade agreements (FTAs)</li><li>India-UAE Comprehensive Partnership Agreement (CEPA)</li><li>India-Australia Economic Cooperation and Trade Agreement (IndAus ECTA)</li></ol>

Investments : FDI 

35% year-over-year (YOY)  FY23 ~ $100 billion 6X More Capex in 5Y

 Capex-led growth:

<ol><li> $108 billion in M&A deals in India in 2021</li><li> Scope acquisitions outside companies’ core operations == 4/10 </li><li> First-time buyers == 80%</li><li>15.7% == manufacturing sector</li><li>Cross-border M&A == 3X in 4Y to 2021 </li></ol>

M&As

$70 billion in 202155% UP since 2019Buoyancy in Manufacturing Focus : Pharma + Chemicals

PE/VC-led investments:

<ol><li>Contract Research and Manufacturing Services (CRAMS)</li><li>Contract Development & Manufacturing Organisations (CDMO) </li><li>operations globally</li><li>rising cost competitiveness of India.</li></ol>

Future OF Manufacturing Business 

Sectors to watch out for : Key investment opportunities would emerge here

<ol><li>CAGR of 16%–18% = ~$50 billion</li><li>low cost of manufacturing (30%–35% lower than in the US and Europe), </li><li>cost-efficient R&D (about 87% less than in developed markets), </li><li>cheap skilled labour.</li></ol>

pharma

<ol><li>CAGR of 18%–20% ~$75 billion</li><li>demand from developing markets</li><li>low cost + PLIs</li><li>100% FDI</li><li>higher M&A activities.</li></ol>

Industrial machinery

<ol><li>CAGR of 35%–40% ~$145 billion</li><li>strong manufacturing technology </li><li>R&D capabilities </li><li>end-to-end supply chain improvement.</li><li>Mobile phone exports = 5X+5Y </li></ol>

Electronics

<ol><li>CAGR of 15%–18% ~$55 billion</li><li>electric vehicles (EVs): CAGR of 37%.</li><li>low-cost manufacturing</li><li>Strong supplier</li><li>key market Penetration like AFR and LATAM </li><li>$3.5 billion outlay for clean energy </li></ol>

Automotive

<ol><li>CAGR 13%–16% ~$110 billion</li><li>Complete value chain</li><li>Competitive cost </li><li>PLI scheme ~$1.42 billion</li><li>Preferential market access to 43 countries under 15 trade agreements</li></ol>

Textile and apparel

<ol><li>Define Clear roadmap : products, geographies, and customers</li><li>operations models: Direct; Partners; Acquisition </li><li>Supply Chain Robustness </li><li>business planning: Cash flow & Risk Models </li><li>skills : Legal; Internation Relations; Tech - IPR </li></ol>

Imperatives for export acceleration for companies

India growth story in manufacturing would provide a feeder for investment ; research into these reports would be a good start towards stock  ideas 

Propelled by growth in priority sectors and driven by favourable megatrends, India’s manufacturing sector has opened itself into new geographies and segments.

The Trillion-Dollar Manufacturing Exports Opportunity for India

In economics, inflation is a general increase in the prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

Inflation

The currency depreciation was seen in Venezuela when the bolivar's purchasing power dropped so low that a person sold sculptures made out of money because as raw material it was worth more than a bill.

Inflation depreciates currency's value

<ul><li>Cost-push inflation</li><li>Demand inflation</li></ul>Two big reasons cause inflation; one is the shortage of supply and another is an increase in demand. If right now the pencils we use are in balance with the companies’ production then there would be no sum rise in the prices of the pencils but the cost will substantially increase or decrease if either the demand is not met or the supply is more than what is needed.

Forms of inflation

Being aware of social situations gives me a sense of personal responsibility towards the betterment of our communal crisis.

😎 Making myself aware of the economopolitical scene goin' on

Discover the world of business and economics.

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Economics

current economical crisis around the globe

1. Do not have a Budget or Budgeting that is always updated. How do you know how much money to make, spend and save if you’re not budgeting? It’s quite difficult to reach your financial goals without it. Budgeting is all about understanding how much money you make, so you can set spending goals and maybe save some money.Just knowing how much you’re spending can help you spend less as you become more aware of it. You also have to always update your budget list every day so you know for sure where the money is going in and out. Making this budget is also the first step towards financial literacy

10 Habits That Will Keep You Poor Even If You Have Good Business

This habit can make you poor, usually it will be seen along with the lack of your remaining budget. This habit often comes back when you are in a place that attracts attention and can make your heart happy. Examples include buying clothes at the mall, hanging out at your favorite cafe, watching movies, karaoke with friends,etc. If you don’t know how much money you have spent, it will be much easier for you to spend more. But if you know and are sensitive about which places have a tendency to spend a lot of money, it will be easier to realize and control your shopping habits in the future.

2. Not aware of impulsive shopping habits. 

Have you ever bought something, kept using it only a few times and then it became a display item in the future? everyone must have done this and it makes us wonder, why did I buy it in the first place? This can happen because when you want to shop, you don’t make a clear shopping list for what items and in what amount you actually want to buy. In the business world, companies are very skilled in this field, they just have to do great marketing tricks such as (discounts, promos, buy 2 get 1,etc.) to buyers who come to be interested in buying more.

3. Buying goods in excessive quantities.

Have you ever been to a friend’s house and his house was full of things? certainly have. When someone buys a lot of things and keeps them in the house, it will give the impression that they are rich. For example, having 2 cars, boat, bicycles, furniture, decorations that are very crowded, etc. If done often, then this bad habit can last for a long time. If you believe that buying a lot of things will make you look rich, then you are very wrong. Because rich will only be determined from the amount of cash that is currently owned, the return on investment and the number of assets owned.

4. Buy things that can give you a false sense of wealth. 

Have you ever bought an item just for the quantity over the quality? definitely yes. This bad habit can make you buy it in large quantities in a short time span, even though it has the same use. For example, glasses, shoes, smartphones, clocks, etc. If you do this often in the future, you can subconsciously make you spend more money than you originally bought because of the quality.

5.Buy because its cheap and quantity rather than a bit expensive

Perhaps this is more common among individuals who are younger in their 20s, even though it is still common among older people. Either the reason is not having a target at all or not right on target etc. If you do not have strong and clear financial ambitions, you will tend to be careless with your own money in the future. For example, you don’t have a motive for why you have to spend as needed, save more, invest more, etc.

6. Does not have a clear long-term goal. 

Try to learn to invest your money in investment instruments that exist today. do not be afraid to lose, because the risk of loss can be minimized by continuing to learn. After all, if you put money into good stocks, bonds, deposits, etc., it will definitely provide a good rate of return and it will have an impact on the growth of your assets in the future. If you only keep money in your bank account, every year you will be burdened by an inflation rate that is much higher than the bank interest income you receive. So don’t hesitate to use your extra money to invest.

7. Not investing. 

One bad behavior that can keep you poor is using credit cards carelessly, such as buying things that are not very useful and are needed in the near future. Interest rates on credit cards can damage your finances in the future because they will get bigger every month. Some people don’t realize that they are wasting money because they believe that they only need to pay small at the beginning when in the future they will pay a lot of interest. Try to avoid this so that your assets can grow bigger every month.

8. Not using credit cards properly.

Unfortunately, many of us worry too much about discussing money and finances on our own. This happens because of a negative mindset. Without realizing it, this behavior can keep you poor in the future. If you are not confident with the money you have now, how can you achieve good financial goals in the future? Try to understand the basics of material about the world of finance, how to manage money properly, how to deal with your finances, etc. so that you can increase your confidence and open your mindset for money in the future.

9. Not confident when it comes to discussing money. 

Most people, when they can earn more money, will definitely increase their spending or standard of living as well, such as buying a more expensive car, house, bicycle, smartphone, etc. If you want to be free from these problems, try to stay alive with the same expenses but increase the portion for investment. Because with this you will become someone who is more reliable in managing financial emotions in the future.

10. Increase expenses when your income increases.

The list of human wants will never end. We crave various items that may or may not be good in the future if we buy them, for example we are in a hurry to satisfy our desires when we have or are just…

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Motivation & Inspiration

10 HABITS MAKE YOU ALWAYS POOR

Most countries have a central bank that manages the money supply. It is independent of the government to prevent political interference. The government can implement different types of economic policy, like decreasing taxes, but can't increase the money supply.

The government can't just increase the money supply

The central bank determines how much money is in circulation at a time. They can authorise the printing of unlimited money to help an economy in crisis, but that's a short-term solution. It doesn't necessarily help with economic growth in the long term and can actually hurt the economy.

The central bank 

When there is more money in circulation, the manufacturers of goods like food, clothing, and cars could respond to demand simply by raising prices. This means you could no longer buy as much with the same amount of money. It is known as inflation. Inflation of about 2% a year is considered a sign of economic health, but more can quickly damage the economy.

In recent decades, central banks have tried quantitative easing to infuse the economy with cash while maintaining a low risk of severe inflation. The quantitative easing approach is where a central bank increases cash flow by purchasing another entity's bonds. Anyone can buy bonds from corporations or governments. When you buy a bond, you're really loaning money to the company or government, who will pay it back later with interest.<ul><li>When a person buys a bond, they're using money already in circulation.</li><li>When a central bank buys a bond, it creates cash.</li></ul>

Quantitative easing

During the 2008/9 financial crisis and 2020, the United States' central bank bought unlimited bonds from the U.S. government called treasury bonds, loaning the U.S. government money. The government used the money to fund relief efforts. This isn't the same as printing money. Because of the way bonds are priced, the Federal Reserve effectively lowered the return on them. This incentivises other investors to lend to riskier entities, which should help companies to borrow money to use in projects, growing the economy over time.

Buying bonds from the government

When the Federal Reserve pledged to buy unlimited government debt, this means the government could just issue more bonds which the central bank would buy. The government could then use the money from the new bonds to pay off the old bonds, meaning the government never pays back its debt. Some economists say that when a central bank buys government debt, it's a subversion of a system designed to protect the economy. Others insist that these measures help stabilise economies.

Concerns over central banks buying government debt

Explore the economic strategy of quantitative easing, where a central bank purchases bonds in order to boost the economy. -- In March 2020, the COVID-19 pandemic rocked economies worldwide. Millions of people lost their jobs, and many businesses struggled to survive or shut down. Governments responded with some of the largest economic relief packages in history— the US alone spent $2.2 trillion on a first round of relief. So where did all this money come from? Jonathan Smith explores the strategy of quantitative easing. Lesson by Jonathan Smith, directed by Serin İnan, Kozmonot Animation Studio. Support Our Non-Profit Mission ---------------------------------------------- Support us on Patreon: http://bit.ly/TEDEdPatreon Check out our merch: http://bit.ly/TEDEDShop ---------------------------------------------- Connect With Us ---------------------------------------------- Sign up for our newsletter: http://bit.ly/TEDEdNewsletter Follow us on Facebook: http://bit.ly/TEDEdFacebook Find us on Twitter: http://bit.ly/TEDEdTwitter Peep us on Instagram: http://bit.ly/TEDEdInstagram ---------------------------------------------- Keep Learning ---------------------------------------------- View full lesson: https://ed.ted.com/lessons/how-do-governments-create-money-out-of-thin-air-jonathan-smith Dig deeper with additional resources: https://ed.ted.com/lessons/how-do-governments-create-money-out-of-thin-air-jonathan-smith#digdeeper Animator's website: https://www.kozmonot.tv ---------------------------------------------- Thank you so much to our patrons for your support! Without you this video would not be possible! Nathan Giusti, Helen Lee, Anthony Benedict, Karthik Balsubramanian, John Hong, Annastasshia Ames, Amy Lopez, Vinh-Thuy Nguyen, Liz Candee, Kathryn Vacha, Ugur Doga Sezgin, Anthony Arcis, Chung Wah Gnapp, Karmi Nguyen, Yelena Baykova, Harshita Jagdish Sahijwani, Nick Johnson, Carlos H. Costa, Roberto Patrick, Les Howard, Jennifer Kurkoski, Ryan B Harvey, Abhishek Bansal, Akinola Emmanuel, Jose Arcadio Valdes Franco, Karl Laius, JY Kang, Heidi Stolt, Alexis Hevia, Christina Salvatore, Karlee Finch, Michael Goldberg, Denise A Pitts, Doug Henry, Kristiyan Bonev, Keven Webb, Mihai Sandu, Deepak Iyer, Javid Gozalov, Kyanta Yap, Rebecca Reineke, William Biersdorf, Patricia Alves Panagides, Valeria Sloan Vasquez, Yvette Mocete, Cyrus Garay, Samuel Barbas, Brighteagle, LadyGeek and Curtis Light.

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Videos

Explore the economic strategy of quantitative easing, where a central bank purchases bonds in order to boost the economy.

--

In March 2020, the COVID-19 pandemic rocked economies worldwide. Millions of people lost their jobs, and many businesses struggled to survive or shut down. Governments responded with some of the largest economic relief packages in history— the US alone spent $2.2 trillion on a first round of relief. So where did all this money come from? Jonathan Smith explores the strategy of quantitative easing.

Lesson by Jonathan Smith, directed by Serin İnan, Kozmonot Animation Studio.

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View full lesson: https://ed.ted.com/lessons/how-do-governments-create-money-out-of-thin-air-jonathan-smith
Dig deeper with additional resources: https://ed.ted.com/lessons/how-do-governments-create-money-out-of-thin-air-jonathan-smith#digdeeper

Animator's website: https://www.kozmonot.tv
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Thank you so much to our patrons for your support! Without you this video would not be possible! Nathan Giusti, Helen Lee, Anthony Benedict, Karthik Balsubramanian, John Hong, Annastasshia Ames, Amy Lopez, Vinh-Thuy Nguyen, Liz Candee, Kathryn Vacha, Ugur Doga Sezgin, Anthony Arcis, Chung Wah Gnapp, Karmi Nguyen, Yelena Baykova, Harshita Jagdish Sahijwani, Nick Johnson, Carlos H. Costa, Roberto Patrick, Les Howard, Jennifer Kurkoski, Ryan B Harvey, Abhishek Bansal, Akinola Emmanuel, Jose Arcadio Valdes Franco, Karl Laius, JY Kang, Heidi Stolt, Alexis Hevia, Christina Salvatore, Karlee Finch, Michael Goldberg, Denise A Pitts, Doug Henry, Kristiyan Bonev, Keven Webb, Mihai Sandu, Deepak Iyer, Javid Gozalov, Kyanta Yap, Rebecca Reineke, William Biersdorf, Patricia Alves Panagides, Valeria Sloan Vasquez, Yvette Mocete, Cyrus Garay, Samuel Barbas, Brighteagle, LadyGeek and Curtis Light.

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TED-Ed

Why can’t governments print an unlimited amount of money? - Jonathan Smith

<ul><li>Almost 80% of consumers surveyed expect bad times in the year ahead for business conditions.</li><li>A survey by the Conference Board of CEOs reports that their confidence is at the lowest level since the pandemic began in 2020.</li><li>About 20% of the CEOs surveyed expected economic conditions to improve over the next six months, and</li><li>60% thought they would get worse.</li></ul> But this recession talk could lead to a recession becoming a self-fulfilling prophecy.

Pessimistic talk

<ul><li>The economic headwinds are very real. Oil prices are up 60% this year, while gas prices are up over 50%. </li><li>Yet, what happens in the economy arises from subjective evaluation of how things will go in the future. Those evaluations are informed by data, not determined by them.</li><li>Fear can lead to economic difficulty. When we are consumed by recession talk, it can become more likely.</li><li>Businesses have become much more concerned about the outlook due to the rising cost of living, drop in demand, and increasingly aggressive interest rates.</li></ul>

Talk of a recession can make one happen

Americans’ feelings about the economy are off the charts. <ul><li>The airline industry is facing the problem of not having enough staff instead of not having enough customers.</li><li>Nike had higher earnings than analysts expected.</li><li>For households, this makes some sense. Many Americans are in a decent personal financial situation: They have seen increased home equity and are sitting on savings accumulated during the worst of the pandemic.</li></ul>

American consumers aren’t spending like a recession is around the corner

Almost 80 percent of consumers surveyed 'expected bad times in the year ahead for business conditions.'

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Business

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Society, Arts & Culture

Are we thinking ourselves into a recession? How predictions and doomsaying can affect real economic behavior

Results from an extensive online poll asking why those who bought NFTs participated in such a volatile market:<ul><li class="ql-align-justify">Some bought NFTs to collect digital art, while others did it for various perks. </li></ul>NFTs with benefits (AKA “utility NFTs”) can score you:<ul><li class="ql-align-justify">Access to communities with virtual and IRL meetups, like Gary Vee’s VeeFriends.</li><li class="ql-align-justify">Access to games. For example, Axie Infinity players must buy three Axie NFTs to start.</li><li class="ql-align-justify">Real-life perks. Crypto Baristas is a coffee project that promises its NFT holders discounts at future cafes.</li></ul>

The Up And Downs Of The NFT Market

While the NFT market has made some creators and traders a pretty penny — artist Pak sold his piece “The Merge” for $91.8m — it’s far from a sure bet.Fine artist Takashi Murakami, whose physical works appear in art museums around the world, recently apologized to investors after the value of his NFT collection plummeted due to market conditions beyond his control.Meanwhile, the median NFT price has dropped to ~$412 from ~$1.7k in April.Still, interest in the space remains high, with players like Meta and eBay getting into the game — meaning many are still apt to take the risk.

Still Hoping To Make Some Money

NFT sales may be down, but some are still holding out hope for becoming wealthy off digital art.

crypto

Cryptocurrency

Why do people buy NFTs? - The Hustle

One of the leading arguments against crypto is its extreme volatility. Between April and June 2022, Bitcoin's value more than halved. Established companies like Coinbase, a popular crypto exchange, have announced layoffs. Crypto sceptics argue that the crash has revealed crypto as a Ponzi scheme. While some of the criticism is well deserved, the focus on price volatility isn't as strong an argument. Instead, it reveals a misunderstanding of what different crypto assets represent.

The Main Argument Against Crypto

Most projects are barely five years old. Eventually, different coins are meant to serve different functions. Today, they all more or less act as startup equity with the distinctive properties of having liquidity and price discovery from the start.

Crypto is a Young Industry

<ul><li>Startup equity is a core concept in business. Every type of startup falls into this category. However, traditional startup equity has no liquidity - you don't invest and expect to flip your shares a month later.</li><li>Crypto is different because a token can start trading right away. But early liquidity has benefits and drawbacks.</li><li>Everyone from central banks to Wall Street is exploring blockchain technology because the features of cryptocurrency enable cheaper to operate and more dynamic markets. Yet, the downside to enhanced efficiency is extreme volatility.</li></ul>

Equity, Liquidity, and Volatility

With Cryptocurrency, everything is borderless and the total addressable market is huge. Success could mean significant value accrual to its token, but the project could also fail. The dilemma is increased because most digital assets can’t be pigeonholed into traditional categories, making valuation much harder. Crypto investors can't rely on established metrics such as a stock's price-to-earnings (PE) ratio. Most digital assets are a hybrid and change from one category to another throughout their lifecycle.

Everything Is Bigger on Blockchain

Price swings give important information to founders and investors, especially during the crucial adolescent stage of any startup.
Universal access, immediate price discovery, and greater transparency contribute to scams and shady behaviour in crypto. But with crypto, even the scams are transparent.
The crypto industry has a lot of growing to do and the current downturn clearly offers some hard lessons. Investors and entrepreneurs are learning not only what is possible in this new ecosystem, but also what isn’t.

Volatility Isn’t Always Bad

One of the leading arguments against crypto is its volatility. In the wake of the most recent downturn, critics have doubled down on this point. But the argument misses an important insight about how crypto assets differ from those in traditional finance. While different coins are meant to serve different functions, today they all more or less act as startup equity — and often serve as hybrid assets, treated as commodities, currency, store of value, and incentive for the validators that make a project function. Unlike traditional equity, crypto assets have liquidity and price discovery from the start. This does mean that crypto markets are more sensitive to signals and changes. The overlooked feature of this, however, is that price swings communicate important information to founders and investors, and builds previously unseen levels of transparency into the system.

What Skeptics Get Wrong About Crypto’s Volatility

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