Welcome to the blog for season two of BlankScreen. In Episode One, we are going to start out with a concept that has been made popular by Naval Ravikant. His concept is titled, “Money, status, and wealth.” Money is a social credit. Everyone just agrees it has a value. We assign that value to things like cars, our time in the form of wages or salary, or things we spend our money on. We can use that money to establish a status or build financial wealth. Status is our perceived spot in a hierarchy. We then trade money for things like art, vehicles, or clothes to show people our status in the hierarchy. Status is a zero-sum game. For someone to be number one, someone must be bumped to number two. Wealth, on the other hand, is assets or businesses that grow or generate income over time without costing more money or time than they produce. Wealth is what most people actually want. People, accounts, and businesses can produce more money than they cost. Ultimately, wealth equals freedom.
Now that we have defined each, let us dig a little bit deeper into wealth. First, wealth is not a bad thing. Opportunities are not equal for everyone right now, which needs to be fixed. This is where wealth comes in. Unlike the status game, where there’s defined winners and losers, wealth building is a positive sum game. In fact, it cost me very little to share from this wealth of knowledge to make these videos for you to add to your wealth of knowledge.
Most people do not play the wealth game though. They play the money game. My favorite avatar for the money game is Mr. Krabs. All he is worried about is money. He compulsively saves it once he earns it. He does not reinvest into his wealth. He saves the money to show his status, rather than paying his employees like SpongeBob and Squidward more or reinvesting into his business. Too often, the money game is then played to support the status game. We buy cars to show people we have made it. I think we are moving away from a status-based society into an intellectual society. We can create new resources like wealth, knowledge, and translate that into a society where everybody can win. Not only can everyone survive, everyone can thrive. To do this, we all must start playing the wealth game. We live in an abundance society, meaning we have more than we could possibly ever need. We need to reinvest the excess into a community of success. I encourage you to choose well. Thank you for reading the first blog of season two. Check us out on YouTube. We will see you in the next episode!