🔝Bridging the Wealth Gap

Yes. This is the CityChad, your lifestyle DJ, spinning tunes that will make your life groove. Let’s dance through the beats of success!

In this week’s edition:

• Markets: 🌬️ Winds of Change

• Article: 🔝Bridging the Wealth Gap

• News: ☠️ Threads Dead?

• Travel Destination: ✈️ Bali

• Chad of the Week: 📹 Logan Paul (?)

MARKETS: 🌬️ WINDS OF CHANGE

Stocks started heading south in the last week.

Seems like the narrative is changing and that the party may be over for now.

Why is this? Three reasons that have been named:

• Rising company earnings have already played out (and reflected in higher stock prices)

• People may have been overoptimistic on economics indicators

• Uncertainty about next year’s US Presidential election

Add to that, credit Rating agency Moody’s downgraded the US government's top credit rating from AAA to AA+ last week.

Not the best set of news, ladies and gentlemen.

Crypto had a relatively boring week for its own standards. BTC did jump above $30K yesterday. However, this range bound trading is hardly exciting news any more.

ARTICLE: 🔝BRIDGING THE WEALTH GAP

TLDR: Wealth Inequality is a fact of life, whether we like it or not. Understanding why this happens is important. More important for you is knowing how to not be left behind. Investing, Creating value and Changing your habits are the key to empowering your financial future.

• The Facts

• Bridging the Divide

• Investing

• Creating Value

• Changing Habits

• Summing it Up

The Facts

Imagine wandering through your dazzling city, your eyes locked on the glittering skyscrapers that symbolize prosperity.

Now, picture this: a chasm lurking beneath your feet, threatening to swallow those without assets. Could it be you?

Wealth inequality isn't just a statistic; it's the stark reality of our streets.

The wealthiest 1% of the world own half of all wealth and the bottom half, less than 1%.

If you read City Chad, you may have gathered that I ain’t no communist.

But Maybe Marx was right about one thing...

Those who own productive assets (like stocks), have the ability to accumulate wealth and gain the freedom to accumulate even more.

Those that don’t are stuck on a treadmill on wheels, with the reverse gear engaged.

Regardless of whether you think it’s right or not, which side of the table do you want to be on?

Bridging the Divide

The good news about this reality is that you can do something about it.

What? Exactly the same as what the wealthy do:

• Own a piece of the wealth creation pie by investing

• Create value from thin air and keep it

• Change your habits about money

If you can't beat them, join them, as the old saying goes.

Investing

This is the most straightforward one but one that too many people avoid. The reasons are many, fear of losing money, thinking it is risky, etc.

All those things can happen but over the long term it has proven to be a phenomenal way to keep and grow wealth. Just look at the S&P500, which has returned over 10% per year since the 1950’s.

The easiest way to participate in the game of wealth creation is to own a piece of the machine that creates it.

Own the assets that make the money.

Don’t just buy the iPhone, own a part of the company that makes it.

Switch from consumer to producer.

Create Value

Now, investing is great and something we should all do.

But it takes money and patience.

So something you can do in parallel is to create value from thin air. Create an asset (e.g. a business) that makes you money using the skills you already possess.

You just need to put to work the greatest asset you will ever own. Yourself.

Yes we are talking about entrepreneurship. Think about it this way. If the S&P500 makes 10% per year, how much can you make by investing $1000 and 100 hours in your side hustle?

If you play it right, it could be a 100%, 1000% or even more.

Changing Habits

Did you know that 70% of lottery winners end up going broke?

Some of the reasons include lack of money management skills, quitting their jobs and uncontrollable spending.

You see, building wealth and keeping it is not just about coming up with a great idea or having a high paying job or even winning the lottery.

It is what you do with that money that matters. If you spend it all, live beyond your means and don’t pay attention to how money making and wealth work together, then you are doomed to fail eventually.

No matter how much money you make.

If you switch gears to thinking about investing, saving and creating value, you can enjoy your money and also inch closer to a sustainable wealthy life.

There is a really good book about this subject called “The Millionaire Next Door: The Surprising Secrets of America's Wealthy”.

It is shocking to see how habits are what makes the difference between those who are and stay wealthy, and those that don’t.

Summing it Up

Taking action isn't merely about expanding your personal fortune. It's your safeguard against being marooned in the realm of have-nots.

It's a harsh way to put it, but it's a fact.

The modern world narrative is unfolding with asset ownership as its protagonist. Those who possess the means to invest and create value are penning their own stories of prosperity, while others find themselves caught in the shadows of assetlessness.

Just read that statistic again about how wealth is distributed.

The good news is that you have Chad on your side.

Keep reading and share this content with your friends to stay ahead of the game.

NEWS:☠️ THREADS DEAD?

Five days is what it took for Threads to reach an impressive 100 million users. Actually, not quite impressive, since it was super easy to create a new account.

It only requires having an Instagram account and pressing a button.

However, since its launch, Threads' popularity has fallen a lot: it has lost 80% of its active users.

It seems content creators don't take it as seriously because their audiences are already somewhere else. So they don't post particularly high quality content on it, because in the end, it doesn't matter.

Similar to other platforms like Mastodon, Threads was born as an alternative to Twitter.

But being just an alternative is the problem. Why would people choose you instead of the main thing? It's better to go fish where the fish are.

Having used the app, Threads doesn't seem to offer anything new or innovative.

Meta executives claim that their goal is to create a "less angry place" rather than replacing Twitter. Which is perfectly fine.

But, is that their USP?

Also, they try to do this by making it more prone to censorship, which seems like a bug, not a feature.

I mean, why would anyone go to a social text-based platform that has less people and more rules than the one you are currently at?

It seems that the bear case we put out last month is playing out.

But it is still early days. I wouldn’t personally bet against Zuck just yet.

TRAVEL DESTINATION: ✈️ BALI

Bali, the Island of Gods. Now practically a cliché destination for the digital nomad and the wannabe influencer. But don’t discount it.

Despite going mega mainstream, it is still an excellent choice as a travel destination or for extended periods of remote work & travel.

There’s already so much info out there about Bali, so we will give you the short and sweet pearls of knowledge.

Stay: Depends on what you want. I’m more of a quiet beach person, so Uluwatu was the place to stay for me. Canggu and Kuta (further north) are popular with the young crowds and party goers. Ubud in the middle of the island is all about nature and temples.

Work: Most villas have rooms with a desk, so you can WFH. The Internet can be slow and unreliable though, so pack as much patience as you can. I was shocked about this given how many digital nomads base themselves there! There are several co-working spaces in Canggu so give it a go if that is your thing (specially as a solo traveler). I really liked Tropical Nomad when I was there.

Stay Fit: Of course, surfing is a must when in Bali. At least give it a go in Canggu, the waves are usually gentle and there are lots of places to rent a board and instructors. Running is hard as there are virtually no pavements, so you have to negotiate with the traffic. Hiking of course is another great option, especially around Ubud. If you are into CrossFit or Martial Arts, I would definitely recommend Wanderlust Fitness Village.

Eat: The food quality is absolutely amazing and great value for money in almost all places. Canggu probably has the most options for the Western taste, but Indonesian food, whilst simple, is absolutely delicious. Bali Buda is a chain of delicious healthy food and groceries, you cannot miss, so you can make it a go-to place while you are there.

Go out: The nightlife is abundant in Bali, particularly in Canggu and Kuta. You can’t go wrong at Finns Beach Club.

Transport: Renting a scooter is the way to go, although it is now more complicated as a foreigner. For an easier alternative, try scooter taxi apps Gojek or Grab.

CHAD OF THE WEEK: 📹 LOGAN PAUL (?)

To some annoying, to some a self-marketing Genius. Like it or not Logan Paul is our Chad of The Week. Why?

Well, this is somewhat of a redemption story. Maybe we can learn a little something from it too.

Remember that point in time in which Logan Paul was the most hated youtuber on the platform? After the Aokigahara Forest incident it looked like it was over for him and his career.

However, nowadays things have changed. Surprisingly, many of his former haters now enjoy his content and even like the guy.

How on earth did he do it?

It seems it was the event in Japan that made him drop his ego and turn him into some sort of Da Vinci businessman. Some of his notable achievements include:

• Training hard to become a boxer, fighting rival YouTuber KSI and taking part in the WWE.

• Started the "The Impaulsive" podcast. This new project forced him to increase his level of maturity, as many guests were high-status individuals in serious fields.

• Launched a mega successful energy drink (ironically, together with KSI) called PRIME.

Now, what are the lessons we can learn from Logan?

• It’s never really over unless you give up. Even after a major F’up.

• Own up to your mistakes and learn from them.

• Attention is one of the biggest assets any business can have. Monetise it well.

• Crossover into other businesses and reinventing yourself can work if you execute well.

That’s a wrap. You're the Chad, Logan. Damn.

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