Episode Transcript

Hey what’s up? What’s up? What’s up, everybody? Welcome back to THE a.m guys. Welcome back to five minute rants. I’m your host, Michael Abernathy. And welcome to the show predicated on the journey of life and business, guys, the heart behind the show is really just to document the journey document where we’re currently at. And also, like, talk about the past where we’ve been, and hopefully that this helps everybody in their journey in business and entrepreneurship, and then also just in life in general. That being said, if you know somebody that could benefit from listen to this, would you partner with me and help get the word out and share it with them? I would appreciate that, guys, thank you for even just listening in and joining and hope you get something out of this.

So today, I actually want to talk about how money is technology. One of the things that is really important in life, just in life in general, no matter where you’re at, is to get financially educated to understand how money works, to understand why money exists, right, and how it works, how it affects our society, how it affects our everyday lives. And knowledge is always better than ignorance. And for some reason, when we are ignorant of something, or when we have no knowledge of a subject, we tend to be afraid of it and don’t approach it. I don’t know why. But that just seems to be our tendency as people. And I encourage you that if you don’t have knowledge about something, to run towards it, and then to get educated.

So that being said, I want to talk about how money is technology. And I want to talk about the reason why money exists. So money essentially is our universal agreement as people to agree on value, okay. And the way that business used to work. And the way that business used to be is that whoever owned the most sheep, whoever owned the most goats, those guys were the richest, whoever owned the most livestock, a food source, right, because at the time, food source and clothing source, because if you own sheep, you got wool, things like that, those things were the most valuable back in time. And if you think about Maslow’s hierarchy of needs, right? Water, food and shelter, and I added my own fourth one, which is air, so air, water, food, and shelter in that order, those go from most valuable and most important to survive. And that was What value is based off of. And Here’s the reason why this is important.

Because if you’re going into business, understanding why people buy, and understanding why people purchase and choose to partner with you, and trust you to either buy your product or your service is so important. And to understand that money is not just this physical object that has worth right, it has an I don’t know if you’ve heard the same, but everybody’s like, Oh, money’s just paper, it’s worth nothing. It’s only worth it worth something because we’ve applied value to it, because we believe it’s valuable. Right. And that’s What I’m talking about to explain that concept a little more, because money essentially is technology that universalized his value, because going back to that goat herder going back to that shepherd. And going back to way back in time, the Maslow’s Hierarchy of Needs value was always different, because you could go up to a guy, and you’d be like, Hey, I’ve got two sheep, but I really want a cow. Will you give me your cow for my two sheep? And that guy is like, No, What I really need is, I really need a bunch of chickens. I don’t need any sheep, I got enough sheep. And so the guy didn’t value the sheep. And What happened is when money came about When gold came about, when silver came about, and the transaction of money came about money solved the problem, the universal problem of differences in value, because value is based off of need and What we need in the moment, value is based off of long term goals and purpose. Value is based off of independent decisions by individuals, I get to decide for my life, What is valuable, why it’s valuable, where I spend my time and where I spend my resources, my cow, my chicken, My sheep, my goats.

And it took me a while to understand this, especially because of how I grew up the education. I had different things. This was not technically a part of it right? And my parents did a phenomenal job. But What I’m talking about is is so important to understand that money is simply a technology. It is simply a computer program. It is simply a phone that solves a problem. And the problem was that there was not a universal standard of value. And so going back to that guy who was selling sheep, when he went to the guy with a cow, he’d be like, Hey, listen, I’ve got a gold coin, and I can give it to you for your cow. And the guy’s like, Yes, I can take that gold coin and buy whatever I want. And then at that point, the money is transferable for any value based transaction. And that’s What money did money solve the problem of you don’t have What I need. If you don’t have What is valuable to me, so I’m not going to trade or do business with you. And that is the foundational root of how all money operates. So that being said, Money is just not $1 bill. It’s not just paper. It’s radically something other than that. It’s just value based.

Anyways guys, I’m out of time, so I’ll catch you later. Peace.