Jeremy and Myron join Stefan and Scott from Mentally Unscripted for another crossover episode. The group discusses individual experiences with cryptocurrency and explores some principles and mental models for understanding the cryptocurrency ecosystem.

Jeremy Thomas and Myron Weber respond to some of the ideas discussed on Episode 47 of the Mentally Unscripted podcast.

Important questions address:

• What is a more nuanced way to understand the concept of Maximalism?
• What are the key differences between Bitcoin and Ethereum?
• Do Scott and Stefan know anything about what they are talking about?
• Is Myron a toxic maximalist?

Jeremy and Myron are joined by Paul and Scott from Mentally Unscripted for a crossover episode.

Highlights:

1. Twentieth century technologies were centralizing. Twenty-first century technology is decentralizing.
2. Decentralization can take many forms from geography to capital.
3. We’re accustomed to hierarchical thinking. Decentralization breaks down barriers created by hierarchical systems and pushes control down to the lowest levels of the system. But the entities at the top of the hierarchy may be hesitant to surrender control. At the bottom, people may be fearful of having to take on the additional responsibility of decentralization.
4. Decentralization can have profound effects on most aspects of our lives from how we work and live to how we communicate to how our morals shape our view of the world.

Using a Mental Modeling approach borrowed from Hannibal Lecter of Silence of the Lambs, Jeremy and Myron discuss Bitcoin.

4-level model of Bitcoin:

• Essence
  • Protocol
• Function
  • Ledger
• Characteristics
  • Cryptographically secure
  • Fixed supply
  • Decentralized
  • Intangible
    • Something you know, not something you have
  • Novel
• Role
  • Bitcoin is money
  • Characteristics of a Money Commodity
    • Scarce
    • Fungible
    • Divisible
    • Portable
    • Transferrable
  • Functions of Money
    • Store of value
    • Medium of Exchange
    • Unit of account
  • What about the Regression Theorem?
    • Bitcoin had subjective value to early adopters because of its novelty and its recognizable monetary potential
    • The theory and historical understanding of money was well established – we didn’t need a slow evolution from commodity to money. It was very fast because it was obvious to some people.

As the regular episodes are on hiatus while the guys prepare to start the next series, Myron Weber flies solo on this short episode. Calling back to his article originally published in 2011, Myron discusses the role of the Analyst in business and how to be a valuable asset rather than a necessary evil.

How do you measure results? How do you manage what you can’t measure? Learn mental model techniques you can use to measure and monitor the results of your initiatives as Jeremy Thomas and Myron Weber dig into the final stage of the Strategy to Execution model.

• A metric is a number with a clear definition compared to a target as of a point in time with an indicator of status assigned to someone for accountability.
• “You can’t manage what you can’t measure” is a dangerous myth.

Have you ever been told that “failure is not an option” on a project? Even when it’s said with the right intention, it’s not true. Failure is always an option. It’s the default option.

Monitoring, managing, and mitigating risks is an essential part of the Execution pillar of the Strategy-to-Execution model. Listen as Jeremy Thomas and Myron Weber discuss mental modeling approaches to dealing with risk.

“The difference between theory and reality is that in theory reality doesn’t matter but in reality it does.”

Jeremy and Myron explore the Validation stage of the Strategy-to-Execution model.

1. Validate the goal
   > Confirm the Value
   > Clarify the Goal
   > Adjust the Goal if needed
2. Make course corrections
3. Reconcile to the Multidimensional Roadmap