Chris Guillebeau’s Fast Facts About the New Rules of Money
From Mark Zuckerberg’s mortgage to taking asymmetrical risks, read ahead for Chris’ fast facts about making money in an economy that hates you.
1. Stop worrying about debt.
What if, instead of worrying about debt, you sought to put off repaying it for as long as possible? That’s what governments and other large institutions do, after all. Even Mark Zuckerberg, worth approximately $110 billion at the time, took out a mortgage for his $6 million house.
2. Learn to take asymmetrical risks.
Some of the best risks are asymmetrical, which means the probability of something going catastrophically wrong is much smaller. The classic example is investing in stock options, but could also be applied to your career or other activities.
3. Set FIRE on fire.
The FIRE (“financial independence, retire early”) movement has been popular for awhile, but it has funneled many people into a plan and lifestyle that isn’t really working for them in the here and now. What FIRE is missing is the chance to earn higher returns from nontraditional investments.
4. Put a small percentage of savings in alternative investments.
While the crypto market is undeniably volatile, the reality for most people is that if they had allocated even 1% of a typical retirement portfolio to Bitcoin in its early days, that relatively small investment would now be worth much more than everything else in their portfolio put together.
The traditional ways of earning a living are outdated, if not outright rigged. That’s why a growing number of enterprising individuals are instead turning to the growing ecosystem of decentralized, fast-moving virtual markets to pursue a host of previously unheard-of ways to pay the bills.
Join New York Times bestselling author Chris Guillebeau on a fascinating tour of this brave new world where novelty is currency, and the creators are in control. Along the way, you’ll meet a colorful cast of renegades who are driving this money revolution, including:
- A teenager who earned more than $400,000 helping indecisive parents pick the perfect name for their newborn child
- The armchair pundits and pop culture enthusiasts making hundreds of dollars a day betting on everything from local elections to who will be next to be voted off Love Island via online “prediction markets”.
- A broke 29-year-old who bartered her way from a hairpin to a new house—twice—while gaining internet fame in the process.
- The gamers racking up digital currency by breeding virtual crabs in the metaverse.
- A remote worker who collects two six-figure salaries from simultaneously working two different jobs.
Gonzo Capitalism is your field guide to the new rules of money, where any and everything is for sale. In it, you’ll learn how capitalize on today’s technology and platforms to turn your time, talents, and creativity into income—on your own terms.