Dickie's Digest - Cooks, Chefs, Media, Commerce, NFTs, and Real Estate
Hey there - happy Sunday!
Thanks for letting the Digest occupy some space in your inbox. This week’s edition is as dense as it gets - a little bit of something for everyone.
A handful of things from me this week:
I wrote two threads this week, one on things I hope I learn in the next 25 years and my thoughts on what it means to be wealthy.
My most popular Atomic Essay was about consistency as the great differentiator.
I was on the Copywriter Podcast talking about frameworks for holding attention and the origin of Ship 30 for 30.
That’s it from me! In this week’s Digest
Have an epic week!
Dickie
👨🏼🍳 The Cook and the Chef: Elon Musk’s Secret Sauce
This piece has sat at the top of my “to read” list for the last few months, and this week, I finally went down the rabbit hole. Newsflash: it’s as good as everyone says it is.
The post starts with a breakdown of Elon Musk’s first principles thinking approach. 99% of people on earth are cooks - they take the current state of the world as given and operate within that given set of assumptions, like a cook following a cookbook. But not Elon. Elon is a chef through and through, kicking the world’s assumptions and “that’s the way things are done” comments to the curb and making a dent in the world.
But instead of breaking down why Musk is such an outlier, the 90-minute read digs into why the world’s default is to be a cook and not a chef. It breaks down how from a young age, our parents saying “because I said so” leads to faulty reasoning skills that cripple most people’s creativity for their entire life.
Towards the end, Tim Urban recommends three steps to become a chef:
Realize you don’t know shit
Realize no one else knows shit either
Recognize you are playing Grand Theft Life
I highly recommend carving out some focused time to give this one a read. It will change the way you see the world, what you’re working on, and have you questioning the faulty assumptions in your life deep into the night.
Read more: 👨🏼🍳 The Cook and the Chef: Elon Musk’s Secret Sauce
💸 2PM: The Intersection of Media and Commerce
I’ve been diving into the archives of 2PM (short for To Polymaths), a business and media newsletter/community whose tagline is: “analyzing the intersection of media and commerce” (which in 2021 is just about every single company on earth).
This post is a good breakdown of the way they see the world, breaking down 10 laws, principles, and ideas that are taking shape in the worlds of media and commerce.
The Law of Linear Commerce. Linear commerce is the prioritization of audience.
The Bifurcation of the American Consumer. The institutions of the affluent and the economically distressed are thriving.
America and Over-Retail. In the 1960s, tax advantages incentivized the creation of retail stores, leading to a 50-year retail overhang.
HENRY is equipped to hold steady. HENRY stands for high-earners, not rich yet.
Gen Z Abritrage Steadies ECOM Penetration. Gen Z prefers online DTC brands to their legacy counterparts by 45% (versus just 4% for millennials)
Live Streaming + Headless Commerce. Instagram stands to benefit from the next great e-commerce platform: live streaming.
New Zones. With millennial homeownership on the rise, brands will continue to target entire zones of the house: Kitchen, Bathroom, and Closet.
Modern Luxury Holds Steady. Last-mile workers have taken the form of a servant class.
Streaming and Bundles. Streaming services are set to become bundles in the next 12 months.
The DTC-fication of Hollywood. Movie premiers in the theatre are out as consumers will pay up to stream new releases on launch day.
There’s a ton to think about here. I suggest subscribing to the 2pm Monday newsletter and digging through the archives, especially this one on DeFi and The Explorer’s Principle.
Read more: 💸 2PM: The Intersection of Media and Commerce
🔥 Last week’s most popular link
🧵This Week in Threads
NBA Top Shot and the Rise of NFTs
I’m fascinated with the hype of NFTs (non-fungible tokens which is a fancy way to say a token that proves you own something). This thread does a great job breaking down how they work and the most prominent NFT brand, NBA Top Shot.
The Parable of the Fisherman and the Investment Banker
A much-needed read for anyone who feels like they’re sprinting through life without asking why. This found me at the right time.
🎧 This Week in Podcasts
Josh Waitzkin on the Tim Ferriss Show
These two lifelong friends basically recorded their dinner conversation and put it out for the world to see. So much to take away from this one on asking better questions, learning how to learn, preparing for failure, and finding your own genius.
Nick Huber (Sweaty Startup) on the Creator Lab podcast
This conversation between my friends Nick and Bilal was so cool to hear. It starts as a breakdown of Nick’s approach to building wealth in real estate and finishes with a vulnerable and authentic conversation about the important things in life. Highly recommend checking this one out.
Nicolas Cole on Data-Driven Writing
An absolute masterclass in data-driven writing from my boy Nicolas Cole. If you are writing online and not following a data-driven approach, the internet is going to leave you behind.
🧠 Tweet of the Week
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