January 15, 2021

$15 Minimum Wage is Causing Outrage! 😐

Mesh Lakhani Headshot
Mesh Lakhani

Hey All,

Welcome to Talk Money Weekly - where I cut through the noise and curate the best money related topics from Twitter and the occasional podcast.

This week we launched Season 3 of the Talk Money podcast!  Episode 1: "Live from the Living Room" looks at the live events business and the struggle artists and venues have been going through. It features Ben Lovett from Mumford & Sons, musician Ezra Furman, and many more.

Please listen, and let me know what you think!

📈 Markets & Business

Don’t Borrow Money to Buy Bitcoin!  

Bitcoin is still a volatile asset no matter what good news has come out about it In recent weeks. When things look like they’ll only go up, people make irrational moves. Borrowing money you don’t have to buy an asset that is volatile is a recipe for disaster. The same can be said about stocks. Only take borrowed money that you can pay back. And, even that is risky.

The housing crisis occurred because banks had over-levered themselves thinking residential real estate would never fail. They got cocky, and it blew up in their face. Always understand your risk and think about downside scenarios.

10 Things the Best Startup Founders Get Right

Julian Shapiro has one of the best Twitter accounts for real takeaways when it comes to startups and content creation. I highly recommend going through this. You don’t have to be a startup founder for it to apply. It’s overall great advice.

I, myself, would have trouble with #1. I have a lot of room for growth :)

Weak Hands vs Strong Hands

Earlier this week, Bitcoin sold off by 20%. When people thought it was going to continue going down, it rallied and went back up close to where it was. Today it sold off 10%. Not everything can go straight up. It’s a bumpy ride. Those who freak out and sell, sell in a panic. They’re called, "weak hands." Weak hands sell to "strong hands" who see the opportunity.

In the previous Bitcoin rally of 2017, institutions were missing. Now they’re here, and they’re participating in a big way. They are the strong hands looking for more buying opportunities.

As always, understand your risk. If you want to learn more about Bitcoin and how to invest in it, sign up for our Talk Money Guide on Bitcoin. Use the code “newsletter” for 20% off.

🏥 Politics & Healthcare

Raising the Minimum Wage to $15/hr is Controversial?

One of Joe Biden’s first missions as President is to raise the minimum wage to $15 an hour from $7.25. Apparently, this is causing some outrage. We should all collectively want people to have the means to live, no matter what it costs.

One argument being made against the wage increase is that it comes close to the low end of salaried jobs for those with a college degree. I personally don’t think student debt should have anything to do with what the minimum wage is. They are two totally separate issues, and should be addressed as such. More money in people’s pockets is a good thing.

Andrew Yang on a Mission to Help NYC Small Businesses

Andrew Yang has announced his run for NYC Mayor. Yang received attention during his presidential campaign for his push for Universal Basic Income. He’s focused on closing the wealth gap.

Yang believes that protections must be put in place for tenants that are facing issues from their landlords. From what I understand, landlords need to pay their mortgage to the bank. They want to reduce the rent because it lowers the valuation of the building/space. Banks don’t want this as they’d rather write the whole thing off.

We need more leaders like Andrew Yang who will push for protections for small business and help moderate the situation.

Red Tape is Stopping the Vaccine from Getting Out Faster

While the number of COVID vaccines administered has gone up significantly in the last week, we’re still seeing a lot of bureaucratic headwinds. Vaccines are being thrown away because there’s still a lot “rules & regulation” on how it can be received. I highly recommend reading this thread by Ben Thompson, and this other one by David Friedberg to learn more.

🎙 Podcasts

Power: The Maxwells

I just started listening to this podcast on Ghislaine Maxwell and the relationship she had with her father. The guy is a nutcase. If you want a story about power, drama, crime & wealth, this one’s for you.

That's all for this week!

If you haven't already subscribed to my podcast, Talk Money, do so here. New episode next Wednesday!

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