One of my most interesting realizations recently is that I am at my best when I'm living in the present moment and I am at my worst when I'm comparing myself. I've been doing specific contemplative meditations on comparison to learn more because it's part of being human to compare ourselves to others. The human mind compares so it can make predictions about the future. It can be a positive thing, but it can also be detrimental to happiness and lack of fulfillment. One of my most interesting realizations recently is that I am at my best when I'm living in the present moment and I am at my worst when I'm comparing myself. Comparing without awareness behind it leads to feeling like we are not enough. Even comparing ourselves to a previous version of ourselves can become a problem if it is unrealistic and/or we have different inputs to our lives.
In this episode of DolphinsTalk Weekly, Kevin compares the 2022 Miami Dolphins to the 2022 Buffalo Bills as well as a total breakdown of the AFC and where the Dolphins stand in the conference. All of this and more on this week's DolphinsTalk Weekly with Kevin Dern.
If you could be liberated from one thing in your life, what would it be? Whether it's constantly seeking approval from others, or being trapped in the insecure cycle of comparison, Rowena and Viv found that answering this question helped them take inventory of what's holding them back and what steps to take forward towards the right direction. Well... what did they find you ask? Sometimes the thing we need to liberate ourselves most from is that darn voice in our heads (sis needs to chillll!) The two also catch up on current ways they are finding work-life harmony. While Rowena shares the struggle of incorporating quality time socializing with friends and family into her schedule and balancing the never-ending task list of work that needs to get done, Viv talks about the ways she's made simple, yet impactful, decisions to bring herself to the present moment - from ordering fish at a restaurant, to adding a bubble machine to her ultimate picnic pack. As always, thank you for being here! We appreciate youuuu and welcome your feedback ❤️ Please say hello and send over any topics/questions you'd like to hear in future episodes :) Email: firstname.lastname@example.org IG: @voicehugspodcast Viv's IG: @vivianxvan Ro's IG: @rowenatsai Thank you Notion for sponsoring this episode! https://ntn.so/voicehugs Check out Rowena's 2022 Notion Worksheets: https://ntn.so/rowenastemplate Mentions: Bubble Machine (Target) - Note: Item got not-so-hot reviews so linking another one from Amazon here) Rug/Picnic Blanket (Ikea) Life Purpose - YouTube Slow Productivity - YouTube 10 lessons I learned in my 20s - YouTube --- Support this podcast: https://anchor.fm/voicehugs/support
Beau Martonik reminds me alot of myself. We're both big whitetail hunters who live in areas void of most other big game hunting opportunity. So, in both of our cases the West called and we answered. We discuss our similar backgrounds and compare the similarities and differences between Texas and Pennsylvania deer hunting culture. Then [...]
In this episode Christy and Rob discuss: Comparing lives with others on social media Turning comparison into inspiration What lack and limitation does to our life Key Takeaways: Competing and comparing happens full blown in social media since people often post the high points of their lives. So whenever you look in your social media feed, you'll see that everybody around you seems to be living their best life. When you see somebody succeed, especially in something that's related to your dream, be happy for them. Use their story as an inspiration, as an encouragement that you can do it too! Lack and limitation never feels good. When looking at other people's lives makes us feel like we're not enough, our creativity and joy is constricted. WE don't get to enjoy life. “We could have everything that we have in our lives, we just have to believe it so and start to focus on that.” - Christy Whitman Get The Desire Factor Book at https://thedesirefactor.com/ Connect with Christy Whitman: Website: https://www.christywhitman.com/ YouTube: https://www.youtube.com/channel/UChhSCDQ_U3cYtCejM9DSVJw LinkedIn: https://www.linkedin.com/in/christywhitman1/ Facebook: https://www.facebook.com/christywhitmaninternational/ Twitter: https://twitter.com/ChristyWhitman Instagram: https://www.instagram.com/christywhitman1 Show notes by Podcastologist: Justine Talla Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.
They've done a number of Dungeon Design Dashes before, but for the first time ever, Dan & Paul go to create a complete wilderness adventure in an hour live on camera. With no advance prep and no safety net, can they do it? Working from a map by Dyson Logos, and using Matt Finch's Tome of Adventure Design, plus other classic Dungeons & Dragons design tools & tricks, find out what Paul & Dan discover in this pumpkin-spice themed journey into the unexplored wild lands beyond the mountains. Wandering DMs Paul Siegel and Dan “Delta” Collins host thoughtful discussions on D&D and other TTRPGs every week. Comparing the pros and cons of every edition from the 1974 Original D&D little brown books to cutting-edge releases for 5E D&D today, we broadcast live on YouTube and Twitch so we can take viewer questions and comments on the topic of the day. Live every Sunday at 1 PM Eastern time.
In this episode of Dirty Money Moves, Jami is joined by Johnathan Walton, TV Producer and Host of Queen of the Con podcast. Like Dirty Money Moves, Queen of the Con is also a podcast about female con artists. Johnathan's Season 1 con artist, Mair Smith, shares a lot of similarities with Mary Carole McDonnell …including the fact that both women falsely claimed to be an heiress. The parallels between them are uncanny. You do NOT want to miss this episode. Follow us @DirtyMoneyMoves on Instagram, TikTok and Twitter. If you enjoy Dirty Money Moves, please leave us a positive rating and review wherever you listen to podcasts. Dirty Money Moves is a collaboration between MURDERISH and Cloud10 Media. Executive producers are Jami Rice and Sim Sarna. Research and writing by Gina Mazzolini. Sean Bannon did the audio mixing and editing for this episode. Josh Cooke composed the music. Brian Stefanik created the podcast cover art. If you're into true crime podcasts, check out Jami's podcast MURDERISH. Visit murderish.com and send us a message if you have information to share regarding this case, or if you would like to suggest a case for us to cover on the podcast. We're interested in investigating cases involving women who have committed white collar crimes / scams. Learn more about your ad choices. Visit megaphone.fm/adchoices
In a modern world, your attention is the most valuable commodity. Which platform will reign supreme? We all have guesses, but you might be shocked by these rankings. We explore how these numbers compare and factors that effect our viewing.Timestamps: [0:32] Social media fighting for our attention. [2:24] How is TikTok getting the most hours of views? [5:03] TikTok not being accessible for buying. [8:05] Instagram discovery and Instagram as a landing page. [10:03] Can people still fully pay attention to things? [14:52] Instagram shows you things that you mention once. [15:38] Content vs ads: how Insta and TikTok do them. [18:32] Takeaways. --Find Harley:IG: @theharleyjordanWebsite: theharleyjordan.comFind Sonia:IG: @Sonia.elyssWebsite: www.soniaelyss.comFollow The Brand Meet Creator Podcast: Rate, Review, Subscribe & Share: podcasts.apple.com/us/podcast/brand-meet-creator
Dallas Cowboys needed to make upgrades. In the Draft, you did see them address the interior defensive line with the pick of Arkansas DT John Ridgeway, who's known for his ability to fill space and stop the run, but he alone won't be able to solve their problem. As of right now, the franchise will enter Training Camp with the usual suspects from last year (Neville Gallimore, Osa Odighizuwa, Trysten Hill, and Quinton Bohanna). But with Bleacher Report writer Ian Wharton suggesting Hill as a player the Cowboys could cut this offseason, there could be an urgency to add bodies. To help offset the possible cut, I wanted to discuss if DT Ndamukong Suh could be an option. Although he's on the older side, Suh has shown every year he can be available health-wise and after last season also proved he still has juice left in the tank. Going off his stats last season with the Tampa Bay Buccaneers, Suh collected six sacks, 13 QB hits, 27 tackles, seven TFL (tackles for loss), and one fumble recovery. Comparing those stats to the Cowboys DTs, he would have ranked 1st in almost all categories except for total tackles, as he would have been 3rd. Adding Suh would finally give the club a true run-stopper that they have lacked for a few seasons. Additionally, he brings a Super Bowl-winning mentality and toughness that the Cowboys desperately need. -Rocky Garza Jr | https://insidethestar.com/should-the-cowboys-chase-after-dt-ndamukong-suh/ --- Send in a voice message: https://anchor.fm/lawsnation/message Support this podcast: https://anchor.fm/lawsnation/support
This is a rebroadcast. The episode originally ran in May 2020. Dan Duckworth is a disciple, family man, and changemaker. As a teacher and coach, he guides elite leaders to the top of their game. He's the author of Stop Asking Why: Your Purpose is Self-Evident, and president of the Leading Saints Board of Directors. Highlights 05:39: Dan discusses the life cycle of a crisis and creating a “new normal” for Home Church 11:51: Statistics of geographic areas and types of leaders that responded to survey 15:20: Bishops in a transactional mindset 18:13: All about hypothetical worries 21:14: Feeling like you need to be doing something 23:32: The Youth Program and God's plans for 2020 27:33: Taking a break from worrying to ponder 30:40: Comparing yourself and your ward to others' 35:18: D&C 1, Hyrum Smith, and disciplined reflection 42:28: Creating connections in ministering and knowing what God wants us to do as leaders 51:02: Knowing the why behind actions you take and transactional mindset vs transformation mindset 55:45: Reintegrating into regular church life 58:32: The number one leadership tool Links DanDuckworth.net Subscribe to the Leading Saints Newsletter The One Thing Bishops Worry Most About During Church-at-Home, and Why They Should Stop Get 14-day access to the Core Leader Library
Paul & Dan chat about the presence of giants in D&D from the elder times to now. Giants are found in the legendary tales of all cultures around the world, and they're critical tentpoles in the D&D monster roster. In fact, arguably, they be the very first type of D&D monster -- when you're playing historical miniature wargames, just grab a miniature at a different scale and you have yourself a giant fantasy monster. The initial sequence of D&D monsters, which we now call "humanoids", were originally just called the "giant class". In this episode Dan & Paul consider: How can you fold in classical creation myths, in which Giants are the progenitors of all later races, into your Dungeons & Dragons campaign? What are our favorite giant-based adventures and stories to mine for inspiration? Where did the menagerie of D&D giants come from? What's the best way to use them in your D&D game? Wandering DMs Paul Siegel and Dan “Delta” Collins host thoughtful discussions on D&D and other TTRPGs every week. Comparing the pros and cons of every edition from the 1974 Original D&D little brown books to cutting-edge releases for 5E D&D today, we broadcast live on YouTube and Twitch so we can take viewer questions and comments on the topic of the day. Live every Sunday at 1 PM Eastern time.
“In everything we talk about in customer experience, you can take the word customer out and put the employee in; the whole thing applies to employee experiences.” This week on the Be Customer Led with Bill Staikos, we're joined by Colin Shaw, one of the earliest pioneers in Customer Experience. Furthermore, LinkedIn has recognized Colin as one of the "World's Top 150 Business Influencers". Also, he is the founder and CEO of Beyond Philosophy LLC. The Financial Times selected his company as one of the best management Customer Experience consultancies consecutively for the last four years. Besides that, Colin is the co-host of the popular podcast Intuitive Customer, ranked in the top five percent of all podcasts, according to Buzzsprout. [02:51] Colin's Background – Sharing his journey and the distinguishing characteristics of his career so far, Colin explains how his company differs from other CX consultancies in the industry. [08:03] Key Tenets – Colin presents some of the fundamental principles of CX to him. Comparing customer experience to employee experience, he elaborates on the application of customer experience in B2B. [10:27] Bring Together - Colin discusses his thoughts on how firms should integrate customer experience and employee experience in a meaningful way. [16:47] Intuitive Customer - In his book, "Intuitive Customer," he discusses focusing on the emotional, subconscious, and psychological aspects of the customer experience from a behavioral economics perspective, rather than merely comprehending the rational experience of customers. Mentioning this, he illustrates how to make this concept tangible for the CEOs or CFOs. [28:46] Customer Science - Colin defines the phrase customer science and its significance in broad terms. Additionally, he stresses the need for a proactive customer experience while embracing advanced technology applications in CX. [37:40] Inspiration – Colin describes the people who have impacted his life and the places where he finds inspiration and serenity. Resources: Connect with Colin: LinkedIn: https://www.linkedin.com/in/colinrjshaw/ (linkedin.com/in/colinrjshaw/) Mentioned in the episode: Podcast: The intuitive customer - Improve your customer experience to gain growth:https://beyondphilosophy.com/podcasts/ (beyondphilosophy.com/podcasts/) Who Moved My Cheese?: https://www.goodreads.com/book/show/4894.Who_Moved_My_Cheese_?from_search=true&from_srp=true&qid=gepln5qMnW&rank=1 (goodreads.com/book/show/4894.Who_Moved_My_Cheese_?from_search=true&from_srp=true&qid=gepln5qMnW&rank=1) The Intuitive Customer: 7 Imperatives For Moving Your Customer Experience to the Next Level: https://www.goodreads.com/book/show/32328098-the-intuitive-customer?ac=1&from_search=true&qid=ONl1jIGZnE&rank=1 (goodreads.com/book/show/32328098-the-intuitive-customer?ac=1&from_search=true&qid=ONl1jIGZnE&rank=1)
In this listener Q&A episode, Andi and Zach answer questions about wet shoes, hamstring injuries, and training for different race distances. After that, we share the latest from the world of running: USA track championships, BAA 10k, and an interesting new marathon rule. For resources and details, visit https://atozrunning.com/episode143 For training, coaching, and other services, visit https://atozrunning.com/coaching
Colorado drafted the core of this Stanley Cup winning team, Red Wings-Avalanche rivalry, Avs scraping salary cap ceiling, Joe Sakic and Jared Bednar's job security, comparing Colorado's 3 Stanley Cup winning teams, Sakic and Forsberg, Cale Makar unanimous Conn Smythe Trophy winner, Nathan MacKinnon, Blink 182, baseball brawls, Dodgers @ Rockies
0:00 — The guys open the hour discussing the Red Sox going to the playoffs. 7:53 — Comparing the Red Sox to other Boston teams. 21:35 — The Red Sox look to sign Aaron Judge to change the narrative of the team. 28:35— Current Red Sox narrative and trading strategies.
0:00 — The guys open the hour discussing the Red Sox going to the playoffs. 7:53 — Comparing the Red Sox to other Boston teams. 21:35 — The Red Sox look to sign Aaron Judge to change the narrative of the team. 28:35— Current Red Sox narrative and trading strategies.
Craig and Logan dive back into their running back rankings from last week's value chart to compare the top backs in the division. What are the strengths and weaknesses of Miles Sanders, Antonio Gibson, Ezekiel Elliot, and Saquon Barkley? Learn more about your ad choices. Visit podcastchoices.com/adchoices
Mining Bitcoin and swimming in sats I had the pleasure of speaking to Tech Engineer a bitcoin mining pleb who has built a fully functional swimming pool heating system using bitcoin miners, immersion tanks and automation to thermostatically control everything. Tech engineers focus is on privacy, security and the ability to double spend energy to heat while mining Bitcoin. In this episode we discus Tech's rabbit hole journey and why mining was so interesting for him, we also discussed the need for decentralising the network and helping smaller miners compete by using the heat produced by mining for something productive. I really enjoyed speaking to Tech and I hope you enjoy listening. I have decided to also add transcripts at the bottom of the show notes as some people have told me this would be useful. Transcripts might not be perfect but they should be pretty good. If you aren't already following @techengineer21 I suggest you do it now. twitter - @techengineer21 twitter - link to pinned video https://twitter.com/techengineer21/status/1523023198287130624?s=20&t=Ct2G5BawqRw4Nc6LcRUaBQ As always please feel free to reach out and ask me any questions. twitter - @MaxBitbuybit twitter - @bitbuybitpod Website - https://ungovernablemisfits.com Today you can exchange $1 for 4760 Sats (Sale ends soon.) Thank you Foundation Devices for sponsoring the show. Use code BITBUYBIT at check out for $10 off your purchase 00:01.28 maxbuybit1 So hey there mate can you hear me I can hear you loud and clear welcome to the show. 00:03.55 TechEngineer I am max I can hear you can you hear me. 00:17.49 TechEngineer Thank you for having me I'd be here. 00:25.00 maxbuybit1 Yeah, well, it's an absolute pleasure to have you On. Um I try and find always people who are doing interesting things and not just the usual podcast circuit and I came across your profile and saw your video you'd done um on this immersion tank and. Pool heating and is something I discussed ages ago with a mate of mine a mate like me with no technical ability and it was just like a thing we talked about but we're too dumb to actually do it. We're like fuck. Someone's got to do this. This is something that's got to happen just makes so much sense and when I saw yours I was like fuck I just need to speak to you and. 01:25.59 TechEngineer And. 01:44.12 maxbuybit1 You know, find a little bit more out because this is the future. It's fucking cool. 01:51.23 TechEngineer So right on man. Yeah, let's let's talk about it. 01:59.56 maxbuybit1 So Yeah I mean um, less so we can do rabbit hole stuff later On. Let's just dive straight in with with what you've been doing Obviously I've seen the video but. For anyone who hasn't can you sort of describe the project and and and what made you decide to do it. 02:33.79 TechEngineer Yeah, absolutely so let me start with a little background. Um back in 2017 was when I kind of went down the bitcoin rabbit hole. It was November of None I heard on the radio bitcoin cross $10000 and I was like. What is going on with this. Um and I was I was instantly intrigued and wanted to look into it more and immediately was drawn to the technology aspect of it and the mining aspect of it. Um. So I started looking into mining and at that time. Ah the miners went up in cost dramatically kind of similar to what happened in 20202021 and I tried to put to order a miner and it. It got delayed and that eventually just never shipped. Um, but there it so it was ah an it was an expensive endeavor for me to get into but I was still very interested. But at the time I knew like I was living in Colorado and I wanted to somehow use the heat that was. Being put off of these devices because I knew they put just put out a ton of heat. So that time I was thinking well maybe I'll just put in my basement and ducked something up to my upstairs long story short. It never ended up up working out just because the miner never showed up and then um. Price kind of dumped and then we went into a bear market and the profitability equation changed and I just decided that I just couldn't I didn't get into it at that time but that kind of built in the back of my mind like. 05:54.36 maxbuybit1 Here. 06:16.35 TechEngineer Want to mine. It's important for the bitcoin ecosystem for mining to be very decentralized but we need some sort of other factor that helps it be more productive to like a home miner so hard using the heat was in my mind. So fast forward to 2021? Um I finally decided you know what I need to just take the plunge here and start building a heater out of a minor so I don't know if you saw my original video but it was a a minor that I put inside of a box. And then aducted into my hvac system my heater my the heater in my house and then I put in some dampers and thermostatically controlled the airflow from the heater from the from the miner into my heater. So I basically he did my entire house all winter using using this system. So I'm I'm guessing you haven't seen that one I think you saw my ah. 08:08.54 maxbuybit1 Amazing. I haven't no um I haven't seen that one I have seen it done before but I haven't seen that specific one and I'm right in thinking it's fucking cold in Colorado. Been been there skiing before and fraze my boocks off. So I assume you need a lot of heat when you're living in there. 08:55.51 TechEngineer So yeah, and actually I don't live in Colorado anymore I mean I'm in Nevada now. So it's a much warmer climate but um, still need some heat in the winter. So I mean that was that was my None big. 09:04.50 maxbuybit1 Okay. 09:30.39 TechEngineer Step into this whole arena here was when I built that that system and that was kind of before I had joined bitcoin Twitter even and realized everything that was going on. So um, so once I had ah finished that system. 09:40.60 maxbuybit1 Here here. 10:07.57 TechEngineer And I had proved out that I can actually heat my house all winter with this system. Um the the next level for me was immersion. So the original system was just taking the air and redirecting it. 10:30.76 maxbuybit1 Here. 10:43.77 TechEngineer Um, but you can only do so much with redirecting air. You can't move it very far. You can't do anything other than really heating air with air. But I knew in the back of my head that ah like liquid cooling like I have I build um my own computers. And the cpu are liquid cooled so that was already in my mind like that's a thing I just didn't know that an immersion existed yet. So once I so once I kind of got on to bitcoin Twitter saw some other people do an immersion once I realized that was a thing I was like. 11:24.72 maxbuybit1 Here. Okay. 11:51.81 TechEngineer Oh my God I gotta try this out because I. 11:58.56 maxbuybit1 What what was what was that like finding bitcoin Twitter for the None time because I know for me, it was an absolute lifesaver like it just changed the game. 12:20.30 TechEngineer And it was ah it was ah a game changer for me as well. I mean I have always kind of been doing these projects and I mean my name is my name is tech engineer because I love technology I Love engineering I'm mean the home automation I'm always doing Diy engineering projects but I'm just kind of doing it. 13:02.78 maxbuybit1 A. 13:00.51 TechEngineer Solo on my own That's how I've always done it and I've always wanted to kind of like branch out and like start documenting these things like because I know that what I'm doing has interest to other people and so finally I was like you know I just got to do this and I made a video about it posted on Youtube and then then it just kind of. Ble up on Twitter and went around in in through bitcoin Twitter and I realized all these people have a big interest in this and I was like oh my god these are these are my fucking people right here like so it was ah it was a game changer for me then I I mean I I love it like it's. 13:51.94 maxbuybit1 Are. 14:16.22 maxbuybit1 Yeah, that's so fucking cool and and like you said is it is so useful for so many people because you know there are people like me who like us a really great idea like it's It's a logical thing that you use this heat. But then we're too dumb to actually do it and then so you have this this stuff documented and. 14:14.17 TechEngineer Awesome. 14:50.77 TechEngineer So. 14:55.34 maxbuybit1 It's so important to help decentralize this thing because otherwise what's going to happen if you don't have people like you and acono alchemists and people out there who are pushing and documenting you just have everyone putting their minors in huge warehouses with shit shows like compass or things like that. And then it's really so much easier to attack and um, yeah, that's why I'm just I'm so excited when I see this kind of innovation and and people tinkering and and building and um, this is this is the stuff that like really moves this space. Forward. This is what it's all about. 15:58.53 TechEngineer So yeah, absolutely and that is one of my biggest drivers behind what I'm doing is to further decentralize mining because I see the trend happening of centralization of mining whether it be into. Big mining companies or like you were saying like hosted solutions and that just that just introduces a whole host of of problems. Um, when you have centralization and I actually have an article coming out in the next few days that I talk a bit more about it. Um. 16:41.14 maxbuybit1 Here. 17:12.20 TechEngineer And why I think that's kind of bad I don't I don't I don't one hundred percent think that like big bitcoin minds are bad but we need both. We need we need. We need to decentralize as much as we can um, but whereas but what worries me is what happened to me in 27 17:28.14 maxbuybit1 A. 17:48.93 TechEngineer Eighteen where I was interested in mining. But then I realized that the profitability equation just wasn't there once we went into a bear market. So but I realized that if we can use reuse the heat and if somebody's like heating their pool or their house. 18:04.92 maxbuybit1 Here. 18:25.21 TechEngineer And they're also making bitcoin Now we have a different equation altogether. 18:32.44 maxbuybit1 And the other the other interesting thing for me when it comes to this stuff like this like even if even if it's breakeven or only very very slightly profitable for people the fat that they're actually mining and getting no K I see sats. Rather than just going on to an exchange and buying on there and giving all their information I think that's incredibly important to push this space forward in the right Direction. So the more this gets normalized. Um the better for the whole space. The better for the individual like But. Ah, whole thing about this for me anyway is like this is freedom money and fuck you money? not you know KYC cut money and and go and give all your details away and everyone's tracked and and traced that's that's not the future I Want to see here. So What you're doing here allows people to actually have access to this and. Allows people to this to be a reality for people where it makes financial sense as well. 20:31.45 TechEngineer Yeah, absolutely and I mean I see you know more of the hardcore bitcoiners. They're willing to mine at an even or even a little bit of a loss just because of the no KYC option but to get into. 20:47.54 maxbuybit1 I. 20:58.34 maxbuybit1 Um. 21:10.15 TechEngineer The next layer of people that you know aren't that into it. It needs to be either more profitable or simpler or say they're just buying a water heater that happens to make bitcoin on the side. That's right, That's where I want to see it going and. 21:40.26 maxbuybit1 Here. 21:48.53 TechEngineer And 10 years is like these are just appliances that are that the average person is buying whether or whether or not they even know that bitcoin is being mined I mean that's all I think we need to get to eventually is that it's just. 22:09.86 maxbuybit1 A. 22:24.57 TechEngineer Integrated into every part of our system because I mean if if this is going to be the base layer of of the future monetary system. It's got to be secure. 22:48.56 maxbuybit1 Yeah, absolutely and so obviously you, you're a very like technically minded guy. Um, what was it like for you coming into this from the tech side and being like this is interesting. This is cool. Um, and then. Looking into the money like what was that experience like or were you already interested in Austrian economics and and that side of things or was it ah quite a mind blowing thing to be like oh shit like this is this is the money we've been using and this this is the problems. 23:38.37 TechEngineer And. 23:56.95 TechEngineer So I was I was at None very interested in money go up I saw 10000 I was kind of an investor in the stock market and I was like what is going on here now I I had actually heard about bitcoin mining in I think around None 24:30.52 maxbuybit1 A. 24:32.15 TechEngineer And I looked into it for None nutes and was like um yeah I don't know what this is like never got into it obviously kicking myself for it. But anyway, um, in 172018 it was like the technology was mind blowing to me. Um I have always. So I'm ah I'm a network engineer by trade I've been building computers and networks for over 20 years so the technology side was really really intriguing to me cryptography has always interested me. Um I'm a. Been a certified ethical hacker in the past. So I kind of um, have a deeper understanding of cryptography and security and all these things are just beautifully enveloped in in bitcoin. So it was technology kind of money. Go up. 172018 for me. Um, none 2021 it was really looking at bitcoin from the aspect of the world needs a new financial system because our current one is completely broken. And I mean it even it got just got worse in 202021 in my opinion and and now so it was in the last two years that I was like the world really needs. Bitcoin now it's not just a cool technology. It's it's a socioeconomic revolution that the world needs. 27:27.22 maxbuybit1 A. 27:37.92 maxbuybit1 Yeah I couldn't agree more I think we're fucked without it. 27:45.35 TechEngineer Um, yeah. 27:53.58 maxbuybit1 So yeah, it's interesting to see somebody come in from the textile I mean almost everyone that I know or spoken to is always number go up almost always number go up I mean a few people say like oh yeah I mean I'm in it for the tech, especially in the bear markets. 28:14.43 TechEngineer So ah. 28:26.92 maxbuybit1 Ah, you know if truth be told it's It's always for the money and um, yeah, it's um, it is nice to know that we've got this thing on our side and um, it's It's nice to know that there's like a possibility for a future where. 28:26.21 TechEngineer Yeah, so. 29:00.16 maxbuybit1 We aren't tied to these psychopaths who are doing the crazy shit they're doing at the moment and um, it's you know for for the less technical people. Um, it takes a long time to like have some trust in this thing. Um, but I imagine for you. 29:29.33 TechEngineer Yeah, absolutely I. 29:35.46 maxbuybit1 Especially with the background. You've just told me it's like um, you're almost made for this. You know you're made to understand this with the background that you have so when you were None learning were there any like red flags or anything where you thought ah you know this is a problem or that's a problem like were there were there concerns. 30:11.35 TechEngineer Amen you're cutting out a little bit and. 30:14.64 maxbuybit1 Or or are there any concerns that you have with the system now. 30:21.35 TechEngineer Hey sorry max you you cut out a little bit like I missed a bit of that question. Can you hear me. 30:29.68 maxbuybit1 Fucking Hell have I lost you? ah. 30:44.83 TechEngineer M. 31:02.93 TechEngineer Can you hear me. 31:17.81 TechEngineer Can you hear me relax. 31:49.70 TechEngineer Okay, can you hear me max. 31:54.98 maxbuybit1 Okay, mate what I'm gonna do then if you can't hear me I am going to close this out and then I'll send you another link and we'll start to with start again. You haven't got well you haven't got yours muted just try speaking. Let me see if I can see your sound waves. 32:42.17 TechEngineer Can you hear me can you hear me at all. Yeah oh they're moving for me. 32:46.76 maxbuybit1 If you're speaking now I can't hear you can you? You maybe can see the sound waves like minor moving and then there's nothing under yours. So if it's not muted then I don't know I'll ah I'll send you a new link now mate. 00:00.30 maxbuybit1 So hey mate. Yeah I heard that can you hear me? Yeah, excellent and we're recording fucking every time I have some stupid issue with this so apologies. Um, yeah, that's all say. 00:02.70 TechEngineer You Yes I can hear you can hear me. Okay. 00:26.46 TechEngineer But the worst. 00:34.85 maxbuybit1 So so I'm not sure where we exactly cut off there I was probably waffling about something. Ah but I can't remember where we'd got to it doesn't matter doesn't matter. Um, so yeah I. 00:47.16 TechEngineer I Can't remember either to be honest, um. 01:13.77 maxbuybit1 Tell me a little bit more about because obviously you'd said you'd started with without immersion and and moving air and now obviously you're working with immersion. Um I know from previous conversations with. John who you know and a few others who were saying that it also makes it a little bit more performant and potentially because it's more stable can be good for um for the miners as well is that right? and and if so do you sort of see most of the space eventually going. This route with immersion. 02:22.20 TechEngineer Yeah, so once I had completed my original heater and then I realized that immersion existed I was like this this is definitely the way because once you have the heat in liquid form. You can do a lot more with it. You can heat water heaters you can heat pools you can still heat air. You can use a water to air heat exchanger and just switch it back into air so you can have None power plant of a minor heater creating heat into an oil and then. Use that heat for many different applications. So I knew it was more modular to reuse the heat in that way. So I want it I wanted to try it out and and build it and in terms of. 03:45.77 maxbuybit1 A. 03:55.56 TechEngineer The longevity of the miners being in oil I have heard that as well and it makes sense to me that um, an oil would be healthier for the chips to be in um, the oil itself is like a none times more. Ah. Are less conducive to less electricity than air. So that helps and then it just keeps it. You know, encapsulated away from oxygen so I I think in general it. It makes sense that it would be better for it. I haven't done any long-term testing myself yet. Obviously I built that tank only I guess about five months ago now four or five months ago now so but yeah, that's kind of the the reasoning for transitioning into. 05:13.59 maxbuybit1 He. 05:27.71 maxbuybit1 A. 05:43.38 TechEngineer Immersion is the capability of where you can move that heat to you can go longer distance. There's many more things you can do at once once it's in a liquid form. 06:09.69 maxbuybit1 And so you know the other thing that you were talking about was like this being in ah this sort of being if I lost you again. Are you there. 06:39.22 TechEngineer Hey you just cut out again. Can you hear me? Okay, okay. 06:45.87 maxbuybit1 Yeah I just saw that it cut out. Um, yeah I can hear I can hear you sorry I'm almost certain this is going to be my ah my issue on my end. So I do apologize. But hopefully we can work with it. Um. 07:04.96 TechEngineer Okay, yeah. 07:19.30 maxbuybit1 Yeah, So ah, you were saying about you know this potentially being used um in boilers and and other products where people don't even necessarily have to know that they're mining bitcoin. Do You think that? um. There's any drawbacks or any reason like in terms of efficiency or anything like that. Why someone would use like a traditional kombie Boiler or something over one of these because obviously a lot of those are gas rather than you know running with electric. 08:19.56 TechEngineer So yeah, so in terms of efficiency. Um, all electricity turns into a to heat 100% of the time. No matter what what you're using the electricity for it always transitions a hundred percent into heat. 08:54.55 maxbuybit1 E. 08:56.18 TechEngineer So if you're comparing directly to say an electric pool heater that is just using resistive like a resistive coil. You're just pushing electricity through a coil and it heats up comparing that to running an Asic and then. Pulling the heat off of that you're we're gonna you're going to be near near a hundred percent efficiency um other than some losses of like the tank or the the piping but all that can be minimized with insulation and whatnot so comparing an Asic. 09:57.35 maxbuybit1 A a. 10:11.64 TechEngineer Heater to an electric heater. It's near near None efficiency theoretically and and for the most part in practice once it's once it's well designed and once you have a system that's is completed and set up the efficiency is going to be very high. Comparing to that to gas is um is another story because then you're you're running into like the cost of gas heating versus electric heating and often in a lot of jurisdictions. Gas is cheaper than electricity. 11:10.31 maxbuybit1 A. 11:26.60 TechEngineer So from a pure ah pure cost perspective gas could theoretically still be cheaper. But if you're just dropped replacing say an electric water heater for an asic electric water or pool Heater. It's going to be. Going to cost the same amount to run it. You're just going to be making bitcoin on top of that. So it might end up paying for itself. But so I mean in my case I have a ah gas heater in my house I switch to electric. Technically I'm spending more fiat dollars on. 12:10.30 maxbuybit1 A. 12:40.38 TechEngineer The electric cost relative to gas but I also made up enough bitcoin to cover to cover that. So. 12:57.99 maxbuybit1 Yeah, yeah, yeah, yeah, that makes sense and I guess the other thing is like getting people's minds to shift I mean it's hard for now like you're saying oh you know you come in in 2017 and you're looking at like mining profitability and you're thinking oh well. You know how many dollars am I going to get and and you're looking at it ah through that lens whereas you know once someone's been in bitcoin for long enough and understands this at the end of the day all they care about is how many sats can I get I don't care what the dollar value is today tomorrow a year two years you know it it matters to me long term how many sats I'm getting and so um, maybe that affects the way that people think about this in the future. 14:24.28 TechEngineer So yeah, absolutely and I mean that goes back to um you know more of a hardcore bitcoin versus a random person doesn't care I mean somebody that is just wanting to stack sats and that's important to them and that's I mean that's important to me for sure. 14:58.79 maxbuybit1 Hey. 15:02.36 TechEngineer Um, but to get this into a broader Market. It's got to be more more um profitable just in general and I mean even even for the the bitcoin miners that are very into to just stacking sats. Right Now. It's it's it's hard I mean the the profitability equation is has changed. You know you get you got the difficulty of the hash rates at all time Highs Meanwhile bitcoin's price is is down. So. 15:41.83 maxbuybit1 A. 16:11.20 TechEngineer So when you're looking at that equation. It's hard to be like yes I'm going to I want to get into mining because it looks unprofitable If you're if you're looking at the equation but mining for heat can change that equation. 16:26.91 maxbuybit1 Here. 16:45.15 maxbuybit1 Yeah, dramatically um and so what are people who you're working with and friends and family and and people around you are who aren't on bitcoin Twitter like what are they saying if they're coming round yours and they're seeing this thing and they're like what the fuck are you doing here like what are you. 17:02.26 TechEngineer So. 17:24.35 maxbuybit1 What is this crazy invention that you've got or are you starting to orange pill people around you. 17:35.92 TechEngineer Yeah, when when my friends and family see it I mean it depends on who it is you know I mean some of my friends that are more technical kind of already understand bitcoin a little bit. They're they're like Wow that's incredible that you can take a computer and harvest the heat and. Like most people had no idea that that's even possible I mean I didn't even know that was possible really a year ago either. So It's like it is like jaw-dropping even even for myself to look at it and look at this tank and be like wait. There's a computer putting off heat I'm heating my pool with a computer.. It's just like. I'm like swimming in bitcoin At this point literally. So yeah, exactly and it's so it's mind blowing to me I mean it's mind blowing to my friends and family that I tell about it and I mean yeah to some extent. It's helping to orange pill people because at at least. 19:00.75 maxbuybit1 Swimming in sets. Ah. 19:29.82 TechEngineer Opens up the conversation and they're like Wow This is so Interesting. What is this thing and I mean people are telling me like oh I should patent and it because it just looks like this crazy contraption and so it's ah it's a mix of like. Awe and interest and and and maybe a little crazy I don't know. 20:18.25 maxbuybit1 Ah, yeah, well, it's ah it certainly looks cool like um it it's just I don't know when you see something working when you see something like this.. It's so much more interesting than just like sitting down with someone and saying. Yes, There's a single bitcoin and it's really good money because of X Y and Zd and like you know the the normal sort of orange pilling that people do um I've always found like showing someone either just like sending them some bitcoin on a wallet or like showing a node running and telling them how it works and and that kind of stuff like. Tends to pique more interest but then this is that on steroids because it's like what what the fuck you're you're hitting your pool that's mental like no one. No one reads anything like that in you know in the newspapers or hears anything about. This kind of stuff in normally worlds. So. It's a real slap in the face and I think it opens the door really nicely to explain. Well yeah, it's not just some stock or something you buy and the price goes up or down like this is a system. And it's incredible for for a None reasons we could list and um, it just opens the door and and I think like whatever type of person it is if they take the time they'll find a little area that they're interested In. You know, be it privacy the economic side or. 22:30.72 TechEngineer This is. 23:00.55 maxbuybit1 You know the engineering side or whatever it is. There's always something for someone and um, yeah, it's ah it's that you know that's the great thing about bitcoin Twitter everyone can help each other and and um, they always have someone to speak to about and and go further and further. Down the rubber hole with these things and. 23:34.98 TechEngineer Yeah, absolutely and I mean and I mean speaking of the normie and their reaction to it I mean it's It's a pretty easy cell potentially eventually if these heaters are more integrated be like hey do you like? do you like free heat. Do you like free energy. 24:02.67 maxbuybit1 I. 24:12.30 TechEngineer I Mean do you like free water heaters. Do you like free pool heaters. Do you like? do you like a pool heater that pays for itself I mean nobody can say no to that right? So it's it's potentially it's a potential easy in for. 24:19.97 maxbuybit1 A. 24:32.29 maxbuybit1 Um. 24:48.58 TechEngineer Not only understanding bitcoin but also integrating mining and further decentralizing mining even to people that don't care about bitcoin. 25:10.70 maxbuybit1 And so is that something that you're trying to push now I mean I know that you ah yeah, think you're on this mining panel with John very soon. He'd mentioned is this something where you're kind of like trying to spread the word and and. You know make this a reality. 25:50.22 TechEngineer I Guess you could say it's kind of the angle that I'm working within the bitcoin ecosystem. It's an angle that I don't see pursued a lot and I and it's an angle that I think is important. Um for how I see. 26:14.70 maxbuybit1 And. 26:30.38 TechEngineer Long-term trend of of bitcoin mining and the importance of decentralizing it. So I don't don't I don't know if I'd say I'm like pushing it. But I mean like it's it's important to me and it's interesting to me and. Love what I'm building and I love the the projects I work on I Love engineering. So It's just it's fun to me and then and I'm I'm helping to I'm helping out the greater bitcoin ecosystem and it's fun to be a part of this. 27:38.47 maxbuybit1 Yeah, definitely and and getting to find other people who are iterating on this as well. Um, you know people who are taking ideas and then running with them and um, there's so many different things that you can do with heat So many useful things and so. Um, it's amazing. Like once you start looking at what people are doing and the the crazy ideas they've got like I've seen people um, using them in greenhouses I've heard people talking about um all sorts of heating not just for homes but also for like yeah hot tubs and. Yeah, obviously you're doing the pool and all sorts of things and like um I don't know where it ends like I'm sure this could be used for types of farming and other stuff. So um, you know everyone needs heat or almost everyone needs. Heat. 29:18.42 TechEngineer So yeah, there's there's a ton of applications. Um, yeah I've seen greenhouses and yeah bouncing ideas off of other people is amazing I mean bitcoin Twitter is almost kind of like a giant collective brain. Where. 29:51.57 maxbuybit1 A. 29:54.32 TechEngineer Like I can I can I can work on a ah micro part of the problem build something somebody takes what I've done and iterate upon that and solve another piece of the problem. Um, and I mean for example I built my my tank which other people had already done I Kind of. I Kind of saw what other people did and I kind of designed something around what I needed and and and customized it for myself. But I kind of iterated on what other people had done um the next step that I haven't released or talked about too much yet or I'm still in progress is The. More of the automation side of like so with a pool heater you want to increase the heat based on the temperature of the pool right? So I mean eventually you want to be able to set a set temperature. 31:32.95 maxbuybit1 Here. 31:45.86 TechEngineer Like and just make it simple and then the system just handles the background of heating or not heating So I I've talked to other people about this and somebody else. Ran with that idea and he he's ah he's a very talented developer and he was able to build an integration between the firmware and um, a microcontroller essentially and now I've been able to implement that into my system. So I have a thermostatically controlled. Environment Now. So I can set a temperature and then the the miners can actually scale up and scale down based on heat demand. 33:14.55 maxbuybit1 That's really fucking cool. So so what are they doing you you dropping the power of these machines to then drop the heat. Basically you're like under clocking or overclocking depending on the demand is that is that right. 33:37.40 TechEngineer Exactly That's exactly right. 33:45.31 maxbuybit1 And is that brains that's doing that or is that a separate bit of software or or firmware or whatever that you're using. 33:59.38 TechEngineer Yeah, so I'm using Brains Os Plus as the firmware and they have an api. Um, and that's what the integration was is reaching out to so the the integration between it's actually home assistant. Which is a home automation platform an open source home automation platform that talks to the api of Brains Os and now we can get. We can get the temperature of the chips and we can get the the hash rate and we can get a bunch of information from the minor to. Home assistant and we can also tell brains Os to tell the miner to scale up or scale down and we can do that based on any event Now. So I then set up a microcontroller with sensors that. Sense The input from the Pool. So and I now know the temperature of the pool and based on that I can have an automation that then says scale up the the miner if we need more heat which increases the wattage. 36:18.90 maxbuybit1 Here. 36:19.28 TechEngineer And therefore increases the the output of the heat and and heats faster Ideally where I see it ideally where I see it going is you would size the number of miners appropriately to the the heat. 36:35.81 maxbuybit1 That's. 36:54.82 TechEngineer Ah, destination. So say you have a fifty Thousand Gallon pool it's going to be different than a one Thousand Gallon pool you're going to need more miners. You're going to need more heat in a bigger pool obviously or in a a bigger house so you size it to the right size. Ideally, you want the miner running at an efficient wattage. 37:08.81 maxbuybit1 Um. 37:35.63 maxbuybit1 Um. 37:33.38 TechEngineer Pretty much all the time. But if say it was cold One day you could over clock quite a bit and and get more heat or you could under clock on say a hotter day so it it gives the ability to scale more so you can scale up or scale down more. 37:56.89 maxbuybit1 Here. 38:12.90 TechEngineer Using these automated integrations. 38:21.55 maxbuybit1 Are there any concerns with overclocking and under clocking and and adjusting these miners on a consistent basis in terms of the longevity. Um with these machines like gion I mean like is it. Is it possible that that could be detrimental to the lifespan of them and rather than just having them running at a consistent ah speed or you know whatever you would call that. 39:19.74 TechEngineer Yeah,, that's a good question and I mean I think in general overclocking of any chip is going to tend to decrease its lifespan. But. I Mean immersion helps a lot with that because you're you're keeping the temperatures down and I mean that's the biggest problem with overclocking is the temperature. The temperatures go higher and that's that's the killer of chips is temp is temperature. So but that being the case that's that's kind of why I said like. 40:04.71 maxbuybit1 A. 40:30.40 TechEngineer Ideally, you'd you'd keep it running at actually an efficient level or a standard level as kind of your base load and then just occasionally kind of overclock um as needed and I'd so I don't. 40:59.10 maxbuybit1 Here. 41:03.64 TechEngineer In that kind of use case I don't think it's It's bad and from what I've seen working with brainsos and the dynamic power scaling. It doesn't seem like it has any negative effect to be scaling up and scaling down on a somewhat regular basis. 41:40.69 maxbuybit1 Um. 41:42.20 TechEngineer Um, but that is a good question to actually look at the long-term impacts of that which which I haven't quite done at this point I mean that I've been running it for you know five months so it's a few months but not not years right. 42:10.63 maxbuybit1 Yeah, definitely um, but that I mean that's that's so key like having this thermostatically controlled and all you know automated is it just knows a whole new level isn't it because. 42:38.20 TechEngineer Yes. 42:44.17 maxbuybit1 You're not going to have people say like oh yeah, I'll put one of these in and then they're tweaking and fucking around with it all the time like you know people want want to put this in their pool to be at the right temperature the things to run nothing to break. They just wanted to to work. You know when the. Sort of non tinkerers start wanting these in their homes because it makes financial sense. Um, this is the kind of stuff which just completely changes the game. 43:27.62 TechEngineer Right? And and the other issue is it's got to be maintainable I mean you don't want to you don't want to have situations where it overheats and you know now we have other problems to deal with with overheating it can be a. Security arm mean. Ah it can be kind of dangerous if it overheats too much. You can have fires and lots of different things. So there there needs to be control mechanisms in place that I mean even just an emergency shutdown when overheating that requires some sort of brain. 44:13.50 maxbuybit1 A. 44:41.42 TechEngineer To to kind of control things and I mean the miners firmware usually have that kind of built in to some extent but I just don't it doesn't make me comfortable to just release like just a system without some sort of finish to it to any person that isn't. 44:44.79 maxbuybit1 A. 45:13.63 maxbuybit1 E. 45:17.26 TechEngineer Building it themselves you know So I've I've had people already like hey I want to do this on my pool I Want to do this on my hot tub and I'm just not quite there yet. But that's kind of the goal to be able to refine this system to make it more accessible to more people that are. Interested in doing this and. 45:57.87 maxbuybit1 Yeah I think there'll be a lot of people who do want to and the other thing I've wondered about for ages I don't know whether it's possible or not. But um, could you do it with a sauna. Do you think like I know that's a dry heat but would it be possible to. Do a hot tub and a sauna if someone like wanted both. 46:39.90 TechEngineer I Don't see why not I don't know a ton about Saunas but I think that would just essentially be um, changing the heat from the oil-based heat into air via a water to air heat exchanger and. Blowing it into a room to heat it up a lot and then I think Saunas are usually I mean they usually have some humidity put in or something but I think it's certainly doable. Yeah. 47:21.39 maxbuybit1 Here here. 47:33.87 maxbuybit1 Yeah. 47:45.17 maxbuybit1 So interesting. It's like once once your brain starts ticking with like these sort of ideas you cut I can't help like thinking into the future and just thinking Oh I lost you again either. Ah, you come. 48:11.64 TechEngineer So hey you just cut out for a None are you can hear me again. Okay. 48:23.59 maxbuybit1 Yeah, yeah, yeah, it seems to just cut out for a none or 2 but I was just saying I can't help my mind from running wild and like thinking where the fuck are we going to be in like 5 years with this stuff like there's so many applications for heat. It just? um. Yeah I can't help thinking that it's just going to be. You know, five years ten years from now everywhere. 49:08.98 TechEngineer I know there's there's so many applications it's it's unreal I mean I had a guy in Canada contact me. He's like yeah this this place way up here. How it's like ° all year long and they have almost free power like what can we do with this. 49:41.50 maxbuybit1 Ah, really. 49:45.40 TechEngineer I Mean it's like the the amount of the amount of areas that are cold and neat heat I mean that's that's a huge market. Yeah yeah. 50:07.77 maxbuybit1 Yeah, absolutely massive. Why is their power So so low is that like a ah dam or like Hydro or something like that. 50:22.40 TechEngineer Um, yeah, it was some ah like small mining town like old school mining town that had some old ah contract with like a hydro power plant or something like that. Um, so it was like. 50:55.51 maxbuybit1 Here here. 51:00.90 TechEngineer None cost power and they were all they're already using like electric heat. So I mean they probably just use thousands of Kilowatt hours of just electric heat already. So that's just an easy easy drop replace. 51:23.30 maxbuybit1 Here. Yeah. 51:34.78 TechEngineer I Mean it's not. It's not E It's not easy. It's but it's a it makes sense financially. It's like that's an easy equation. 51:49.81 maxbuybit1 Yeah, definitely and and for people who have cheap power. The other thing I was thinking before this call is especially now when you have like a drop drop in price and like the s nine s and some of the older hardware and those prices drop to like practically 0 Um. 52:19.90 TechEngineer Is this. 52:30.19 maxbuybit1 Presumably for you know someone who has 0 None near 0 power. It's actually going to be better than going and buying electric heaters because you can get these things for practically free and if you're heating a big space. Um, you know you can you can get a bunch of these things you know. Plug them in have them running and um, you know I'm sure if you get get enough of these people just want to get rid once they become unprofitable. 53:20.34 TechEngineer Yeah, exactly and that's kind of always been in the back of my mind too is that we could. We can definitely use older generation miners. We can keep them in service longer essentially by using them as heat sources now. Maybe you'd get you'd want to get. You know one or 2 generations old if you're installing a new ah new heater system. Just so that you wouldn't have to upgrade them for several years um obviously the the bitcoin bitcoin miners the the generations they they go quickly. Although. 54:08.95 maxbuybit1 Here. 54:37.14 TechEngineer I See that trending towards slowing down. Um the the quickness of how fast the older generation becomes obsolete I think we're reaching kind of the top of a exponential curve or a logrod and a curve of of improvements. 54:44.45 maxbuybit1 A. 55:15.56 TechEngineer In terms of hash rate and efficiency if that makes sense. 55:25.49 maxbuybit1 Yeah, yeah, yeah, um, and and do you think? Also you're going to have more players stepping in I know there's been talk of it. Um, you know I sort of believe it when I see it. But do you think that? um. People making this hardware There'll be some decentralization there and um and more optionality for sort of um yeah for for people coming in that there's not just like None big players. 56:19.64 TechEngineer Yeah, so I know there's so I know Intel is getting into the space as well as Jack Dorsey and I don't know a ton about them. But from what I understand they're attempting to make a more like modular approach. 56:35.83 maxbuybit1 Here. 56:57.58 TechEngineer To the the Asics. So instead of buying like an ant miner. You could just buy a thousand chips that you put directly into say a heater. So now we can just we don't need to like build the tank around the form factor. 57:03.51 maxbuybit1 Yeah. 57:39.39 maxbuybit1 A. 57:37.12 TechEngineer Ah, an s nineteen it can just it can just be more integrated directly into like an actual heater. They're just built right in and so. 57:58.70 maxbuybit1 Yeah, that makes a lot of sense and and like space wise that would make that would be much better presumably. 58:08.84 TechEngineer So yeah, so I mean that's kind of where I see it going longer term is it. It'll be very integrated. 58:27.13 maxbuybit1 Yeah, because the the other thing is like if you're getting these ah the hardware as it's built now when you're then putting it into Immersion. You're presumably like taking these fans off or bypassing them somehow because they're not needed and so there's there's a load of stuff that's. Built around it. That's actually not necessary so it seems quite wasteful. Um, yeah, like or not as efficient as it could be so that that would make sense if they did it that way. 59:25.64 TechEngineer Yeah, absolutely we're we're kind of repurposing a product for something. It wasn't really intended for. But if we can redesign it from the ground up as a heater then then it's a different equation altogether. But I mean. 59:47.57 maxbuybit1 A. 59:58.44 TechEngineer That's a whole other scale. That's you know, probably 5 10 years out I would think so in in in the shorter term. Um, it's interesting to see where we can go with repurposing these things for heat applications. 01:00:27.75 maxbuybit1 So you obviously spend loads of time thinking about bitcoin and mining and everything in the space like do you have any thoughts on where we're going like if you're looking out into the future. You've said obviously you know the money's fucked. You think that this system is. Very beautifully designed and it obviously has grabbed your attention hard because most people wouldn't be building what you're building unless they really cared. But do you sort of you know if you if you let your mind wander Where do you think we're going to be in None ears What? What? do you think is going to be happening in this space. 01:01:40.10 TechEngineer Yeah, it's a good question. Um I I hope for a bitcoin standard eventually I think it that it needs to happen I believe that I mean obviously I don't know how or when it's going to happen or. If. There's going to be some other intervention that slows it down or I don't know but it needs to happen. So I mean and that's why I want to get kind of the mining infrastructure prepared. Because when it happens it's just going to happen and nobody's going to be ready for it. So I mean coming from as a network engineer a network security engineer like you want to build a system that's secure ready to go. So when the load comes. It's just ready to go and it's safe and secure So for bitcoin the way I see it overall is like it needs to be highly decent. The mining needs to be highly decentralized so that there there are not attack vectors of like. Like say a political organization getting a bunch of big mining operations to like work together or shut down or do a 51% attack. There's a lot of things that can happen. But if it's more integrated into like so heaters all around the world. 01:04:34.85 maxbuybit1 Here. 01:04:43.46 TechEngineer And nobody has control or now it's now it's more secure from my mind. 01:05:03.35 maxbuybit1 Definitely so. That's a concern for you as like this centralization of the mining. Um I think that's reasonable I mean you you only have to look through history to see that like these people will do pretty much anything to protect their interests. And it's not that hard when you you know these these big these big miners are sitting ducks basically and if they're threatened or co-opted or blackmailed or whatever happens to them. They will fold. Um, you know a lot of these. Guys are going to be very fee outminded. Not everyone is here to say right? fuck we need to do this to to literally like just to save the world pretty much is like a lot of people will be in it just to say well I want my profits and you know I'm I'm going to be too scared if I'm threatened and and I will comply and. And that's my fear with it with a lot of these bigger miners. So I'm totally with you. There is that um the more we can decentralize things the better and um, also like you know I don't like this move where there's this so much power going to a specific country. It would be nice. Um. Yeah, be nice to see it spread out a little bit because it was like you know everyone was worried about China having all the hash power and or majority of it then it's gone a lot of it's gone over to America and it's like well if if they're ah losing reserve currency status and. They're concerned about bitcoin you don't really know what they could potentially do. 01:08:17.18 TechEngineer Yeah, and I mean I can see in the future I mean if if bitcoin becomes a standard like there could be ah, a war on bitcoin mining control like you control the blockchain you control kind of the world If that's the monetary standard like think of how. 01:08:52.97 maxbuybit1 Yeah. 01:08:57.22 TechEngineer Impactful that is I mean and yeah I pose the question of um decentralization actually in a mining panel at um at a bitcoin conference recently. To 1 of the the big miners and I just kind of threw it out there that like this is my concern of um that I see that I want to see mining more decentralized and I did I did like his answer. He kind of said you know we need we need both we need small operations we need large operations I mean the large operations can scale can scale with the growth of the of the asset. Um, and he also said that it it is important to him to to decentralize and. 01:10:08.53 maxbuybit1 A. 01:10:39.38 TechEngineer And they are decentralized from the perspective of having mines in multiple different countries in different continents in different power. Ah utility jurisdictions and that's that's a good thing I mean having having 1 big miner that has mines in 4 different continents. That's. 01:11:04.75 maxbuybit1 A. 01:11:20.75 maxbuybit1 Yeah, definitely. 01:11:18.44 TechEngineer Somewhat decentralized um us but still if if you know in 10 years when you know if if a whole if the most powerful government in the world at the time says you know what minor I want you to you're gonna shut down or we're gonna nuke you like that. That's. 01:11:50.49 maxbuybit1 Here. 01:11:56.64 TechEngineer That's the potential threat in the future. But if we have ah None heaters all over the world. It's it's a different threat. 01:12:17.77 maxbuybit1 Yeah, definitely. Um, yeah, it's definitely um, a potential issue. The other thing that I've been saying to people um is you know with with all the crazy stuff that's going on in the world and and so many people who are struggling to pay bills and so many small businesses that have. Being forced to close with all the Covid nonsense and everything else that's gone on in the world and there's a lot of people who are pretty desperate and can but barely afford to keep the lights on and I've been saying wouldn't it make sense for some of these smaller businesses like you know like a small garage or someone who's who's barely surviving. 01:13:11.54 TechEngineer And. 01:13:36.50 maxbuybit1 You can write off the cost of your energy and so effectively you can do like sort of pirate mining where you might need heat in your garage or your your business small business. And so if people are getting these old s Nine s or stuff the hardware. That's basically cost nothing um and they can write off the cost of their power Anyway, then suddenly these people actually become competitive because these huge mining operations get access to. Very very cheap money. They they have access to capital they they have lots of um options on like power contracts and generally they can drive their costs much lower because of economies of scale. But when you have these ah these smaller guys who are saying well I'm getting fucked from every angle. Can write off the cost of the power Anyway. So It's zero and I can get this old hardware for practically zero like it suddenly starts to become an absolute no-brainer and there are None of businesses like that around the world who could benefit from it. Um, so Like. You have any thoughts on that kind of stuff and um, how we could maybe make it a bit more accessible for more normal people. You know so they don't have the headache of worrying about setting it up and and understanding that this is actually potentially yeah. Could save them some money. 01:16:30.40 TechEngineer So yeah, absolutely I do and I don't I don't know if you saw a recent post I did about my Tesla solar grid plus powerwall and how I'm using that to my advantage. Um, but basically the concept is. Um, dynamic dynamic power scaling ah to work around time of service agreements with power companies. So here in Nevada um, the highest. Power consumption usages between 1 pm and 7 pm when everybody is running their air conditioning. So the the power grid is at its at its peak need at that point. So what they do is incentivize. There's an optional payment plan that you can opt into as a homeowner to basically. 01:17:45.15 maxbuybit1 A. 01:18:11.86 TechEngineer During that one to 7 pm period the price like quadruples. But then the rest of the entire year of the price is half price. So I opted into this this power plan and I get half price energy all the time except for this one time. 01:18:21.49 maxbuybit1 Here here. 01:18:46.31 maxbuybit1 A. 01:18:46.46 TechEngineer And now all we got to do is use some automation and I actually use my Tesla power walls which are the batteries and I can actually I can actually sell power back to the grid at a much higher rate and reduce my consumption during the the peak time. 01:19:00.59 maxbuybit1 A. 01:19:24.20 TechEngineer And what you're doing is essentially filling in the valleys of power demand for the energy jurisdiction and so for example, I'm I'm actually selling power back. 01:19:35.71 maxbuybit1 That makes a lot of sense. 01:19:56.34 TechEngineer Between None and 7 pm for like ¢22 a kilowatt or Twenty Eight cents kilowatt hour and then the rest of the time I'm using power at like None a kilowatt hour so in my that's my jurisdiction but in general. Power jurisdictions have a problem of the peak demand is only a short period of time but they have to build their energy grid to meet the peak demand. So the rest of the time they just have empty space of of unused demand. So I want to try to integrate. 01:21:04.19 maxbuybit1 A. 01:21:11.86 TechEngineer Further into that and basically miners can turn off and and on quickly and I mean riots riot released a video recently about how they're doing it in in their big minds. They're essentially powering down when when the Texas power grid needs. 01:21:53.71 maxbuybit1 Here. 01:21:51.64 TechEngineer More power so integrating with with the the power companies will be good in general for the overall robustness of the power grid but also have the benefit of decreasing costs for the bitcoin mining. 01:22:15.95 maxbuybit1 Yeah. 01:22:29.26 TechEngineer Because they can incentivize it in different ways. 01:22:41.37 maxbuybit1 Yeah, um, because yeah, yeah, exactly because you can overproduce and there's always going to be demand. Um, which which presumably then might incentivize them to create more power as well because they know that there's always someone who's going to be that buyer of last resort. Which is going to make everything run a bit smoother. 01:23:22.76 TechEngineer Right? ah. 01:23:36.27 maxbuybit1 It's mind-blowing stuff some.. It's absolutely mindlowing. So Um I mean obviously mining is your thing but outside of the mining stuff is there anything else that your. Particularly looking at within bitcoin at the moment are you playing around with lightning. Do you mess around with them thing like that you into your privacy stuff or you just solely focused on mining at the moment. 01:24:23.84 TechEngineer I am into everything I Just don't have time for everything so I would say so I've been focusing on these mining for heat projects. But I do run my own full bitcoin Node. I'm playing around with lightning privacy is very important to me Security is very important to me I have a lot to add into the space in terms of like network security. So like as a network engineer I'm able to build my home network in a way that is more like an enterprise. Network with security in mind different V lands. Um, there's a lot you can do to really secure secure things and then you can do things like use vpns and make your bitcoin node anonymous um and run an over tour. So I'm I'm. 01:26:07.99 maxbuybit1 Here. 01:26:15.92 TechEngineer Doing all those things. Um I don't have enough time in the day to explore as much as I would like but those are that's that's the other aspect that I I want to explore more is kind of the the security side of of ah of bitcoin and bitcoin mining. 01:26:54.21 maxbuybit1 Yeah, well I Really look forward to seeing what you come up with there. That's gonna be more and more important for people who are mining at home and are putting more of their net worth into this and um privacy is something that we really really focus on with this show because. You know if shit hits the fan and people know what you're doing and ah, there's a load of have nots and people who can't feed themselves. You do not want everyone to know where you are and what you've got. 01:27:49.22 TechEngineer And yeah, absolutely ah privacy is is a big concern to me and especially with how how the world has gone in the last year to 2 years and privacy is is so important now even more even more than before. 01:28:24.79 maxbuybit1 Absolutely well. Um, that's probably a good place to wrap things up I don't want to take too much of your Time. Youve got some awesome Stuff. You're building but I've really enjoyed chatting you and um so pleased to see that you're pushing this space forward and. Making some incredible stuff I'm sure loads of people will find it useful and um, as and when you you know start working on this privacy stuff and the home security stuff I'd love to him or I think that loads of people will benefit from that. So. Yeah, just want to say thanks for coming on and everything you're doing really? yeah, really do appreciate it. 01:29:40.00 TechEngineer Thanks sounds good. It's been. It's been a pleasure and good to talk to you. Thanks Max All right have a good one. 01:29:50.93 maxbuybit1 Awesome or I may I'll speak soon.
Debunking "Bible Secrets" Television Shows (Part 1) YouTube, as well as cable channels like The History Channel or Discovery love to hype programs where they air supposed secret findings about the Bible. Even PBS produced "The Bible's Buried Secrets" – the latest in a list of documentaries that tries to undermine the Bible's credibility. How should we understand these shows and what are we to o with the charges from some very significant scholars? In this series, Lenny shows some of the tricks the producers use to make fringe possibilities seem definite and exposes how these shows truly present an emperor who has no clothes. Part 1 of 4
Meet the vivacious Donna Bollinger! Donna Bollinger is a mother of four, an athlete, a coach, an announcer, a Basic Life Support Instructor, an ocean safety expert, and a singer-songwriter. As she energizes and inspires people, she also teaches the importance of life- saving skills. Two-time national record holder for swimming. Swimmer at The University of North Carolina, ACC Champions. Bachelor of Arts in Speech Communications. National level cyclist and triathlete. City Team Ministries youth outreach coordinator in San Jose, Ca. Ocean Rescue Lifeguard and Basic Life Support Instructor. Police Athletic League ocean safety and CPR support. Announcer and Emcee who also performs The National Anthem. Singer and Songwriter Author of the best-selling book Break That Grip... Lessons From the Ocean of Life Her Mission To develop future leaders with character, by helping individuals break the grip of anxiety, and practice being excellent responders. Comparing life to the ocean makes my presentation thrilling and memorable. They'll learn how to save themselves and others if caught in a rip current and also how to save a life if someone needs CPR. Donna Bollinger immediately captivates the attention of youth with her high-energy and mesmerizing stories. After her life and the lives of her loved ones were threatened by a rip current, Donna Bollinger went on a quest to learn how to manage the power of the ocean and teach others how to do the same. She became a lifeguard in order to train junior lifeguards and organized Ocean Safety Days to teach people of all ages and races how to escape these deadly currents. When Donna had to face challenging circumstances in her life, she began to realize that learning how to manage the ocean was similar to learning how to manage her mindset. Being a mother of four, an inspirational speaker, and a creative composer, she entertains students while instilling valuable life lessons. Donna loves to tell stories with happy endings and she encourages others to do the same. Testimonials “Thank you for coming into our 5th period Peer Remediation class to teach us CPR. I loved your enthusiasm when explaining and it kept my attention! I know what to do now when someone needs CPR! I know how much teaching this to kids meant to you and it showed. Keep doing what you do and thanks again!” —Abi J “Many thanks for your wonderful presentation. I especially admire how well you were able to keep the whole class engaged—between funny jokes and a powerful message. I hope you can visit us with another inspiring word soon!” —Cameron K "Donna Bollinger is a powerhouse speaker with a compelling and relevant message for our youth. As a former Ocean Rescue Lifeguard and Basic Life Support Instructor, she takes her real-life experiences on the beach and transforms them into dynamic life lessons. Her passion for equipping young people as they navigate the strong currents of life is unmatched. " - Clay Banks, CBSI, Burbank, California Empowerment Center for Creative Studies www.donnabollinger.com --- Send in a voice message: https://anchor.fm/thriving-in-chaos/message
Learn about the good and the bad of the self-storage space with our guest, Mark McGuire! Mark is a limited partner in 12 syndications ranging from multifamily to industrial hospitality and self-storage. He talks about how storage units are becoming an increasingly popular asset, why it's important to build relationships with brokers, and what bad investments to avoid in the market. Starting from the bottom of the ladder in his career, Mark also shares the lessons he learned as he worked his way up to success. [00:01 - 03:08] Taking Action and Following Up How Mark climbed the ladder to success Investing time with people smarter than us [03:09 - 21:03] What You Need to Know About Self-Storage Investing The self-storage industry is controlled by a select group of brokers This is the right way to approach and interact with them Comparing the first and the last self-storage deal he did Looking for locations The landscape then and now Mistakes multifamily investors make when transitioning to self-storage How Mark and his team position themselves and make moves in the current market The benefits of investing in self-storage What is a bad storage investment? [21:04 - 22:24] Closing Segment Reach out to Mark! Links Below Final Words Tweetable Quotes “Find someone smarter than you, go ask them what you should do next, do that thing, And then once you're done, let them know that you did it and ask 'em now what the next step should be.” - Mark McGuire “Self-storage is like the halfway house for recovering multifamily addicts.” - Mark McGuire “The people who are willing to pay the most are young females and young females want properties that are well lit, and that are aesthetically pleasing, and have a lot of security cameras.” - Mark McGuire ----------------------------------------------------------------------------- Connect with Mark at InvestingInMark.com and follow him on Instagram, Facebook, and LinkedIn. Connect with me: I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns. Facebook LinkedIn Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in! Email me → email@example.com Want to read the full show notes of the episode? Check it out below: [00:00:00] Mark McGuire: We've been in an atypical market where we've been up to the right for the last four years. So, you know, despite how poorly you've operated a deal or priced a deal like you could sell it just in spite of your knowledge base, but there will come a day when you reach the high water mark and then pricing starts receding. And then at that point in time, brokers are going to be calling you asking, what do you think this is? [00:00:33] Sam Wilson: Mark McGuire's biggest passion is wealth building and investing. He's a limited partner in 12 syndications ranging from multifamily to industrial hospitality and self-storage. He's invested in multiple private companies in the biotech, finance and AI spaces. Mark, welcome to the show. [00:00:49] Mark McGuire: Thanks for having me, Sam. I'm pumped, man. Excited. [00:00:52] Sam Wilson: Thanks for coming on today. Certainly appreciate it. Here's three questions I ask every guest who comes to the show in 90 seconds or less: can you tell me, where did you start? Where are you now? And how did you get there? [00:01:00] Mark McGuire: Yeah. So started in, as the maintenance guy, the assistant to the maintenance guy. So I started, if there was a bottom rung on the ladder, I think I started in the ground and currently now functioning as the chief investment officer at Hearthfire Capital. And we focus in the syndication of the self-storage space and, you know, my journey getting there was from, you know, doing all of the work that nobody else wanted to do and kept finding people who were smarter than me and asking them for advice and then executing on the advice they gave me and going back to them and saying, Hey, I did that, now what? If I could give one piece of advice, find someone smarter than you go and ask them what you should do next, do that thing. And then once you're done, let them know that you did it and ask 'em now what the next step should be. [00:01:48] Sam Wilson: And that is the follow-up that I think 90% of people miss is that, Hey, I did it. Lots of people are willing, lots of people are willing to say, Hey, you know, what do I do? And then they listen and it makes 'em feel good to hear what they should do. Then one, they don't do it. And then secondly, they don't follow up and go back and say, Hey, I did it, now what? [00:02:06] Mark McGuire: I mean? Yeah. Some of the smartest people that I know, people that have mentored me, you know, I've asked them after the fact, like, why did you choose to invest time with me? Because, you know, time is a resource that people who, it doesn't matter how wealthy you are, you can't make more of it. [00:02:21] Mark McGuire: You can earn more money. You can earn more time. And the answer that I got from multiple people is you were a dealer. You went and you did what I told you to do. And then you followed up with action. So take action. [00:02:34] Sam Wilson: Absolutely. That's an inspiring story. I think for all of us, I love starting, if there was a bottom rung of the ladder, I started in the ground. Did you, did you go to college? [00:02:43] Mark McGuire: I did three semesters, non consecutively, and never graduated. [00:02:47] Sam Wilson: I love it. I love it. That's one I'm my, now it makes the story even better. Tell me what you guys are doing today. [00:02:53] Mark McGuire: Yeah, so Hearthfire Capital, we currently own 12 facilities, about 420,000 net square feet buy, operate, manage, improve self-storage facilities. That's what we do. [00:03:08] Sam Wilson: That space has seen, I mean, as all, I think real estate asset classes have, have just seen an incredible interest from the institutional side of things. How is that changing what you guys do, your strategy, your return profiles. I guess I asked that question and then like, we'll start there got too many questions for you, but we'll start with that one. [00:03:30] Mark McGuire: Hey, fire away. It's interesting. I was actually just on a call before I hopped on here today with a broker in the space. Just asking them what they're seeing. 'Cause we've been, self-storage has really been controlled heavily by a small group of brokers. So it's interesting in self-storage, that's different from other asset classes is that it's not, like there's a bunch of people, especially everyone comes from multifamily. Everyone knows multifamily. It's the easiest one to get into requires the least amount of capital. There's the most amount of possibility, but there's not a lot of like good trophy properties. And they're, the brokerage of those properties is A, a lot of them don't ever get on the market that they maybe get limited bid at best. [00:04:10] Mark McGuire: But two, there's a lot larger pool of brokers competing for the inventory versus in self-storage, it's controlled by like eight or nine groups that really do the vast majority of the industry across the country. So when you get in with a couple of them, you prove that you can perform, you sign deals up on the front end. [00:04:29] Mark McGuire: You don't retrade them. You take them down on the back end, obviously, assuming that, you know, you didn't get lied to or debt didn't go up 200 basis points over the time in which you had it in your contract. That's how you get in with these people and self-storage is really controlled by a select view group. [00:04:46] Sam Wilson: Got it. So how did you crack that egg? If you're coming in is the new guys on the, on the block, like what would you say to somebody if they wanted to get in front of these people and actually become a credible buyer? [00:04:58] Mark McGuire: Yeah. So, you know what I would tell anybody who's looking to make that move, you know, reach out to them, sit down with them, tell 'em what you're looking for. And then when new offerings come in, that are what you're looking for, offer on them within like, you know, 24 to 48 hours. And, and if they don't work for you, tell them why that property wouldn't work and give them actual reasons, not just like, I don't feel like buying this today. [00:05:27] Sam Wilson: That is, and I hear that over and over and over. I think I've heard that 10 times in the last three weeks from guests on the show and it's something I just think that just needs to be reiterated again. I mean, I, I can't thank you enough for saying that, which is tell 'em, tell 'em why it doesn't work. [00:05:42] Sam Wilson: Communicate with your brokers. And I think that's, I need to go back and just kind of splice all these and put like a broker advice podcast together from about the last 30 guests and say, Hey, this is, this is how, you interact with brokers, 'cause it is, it is an interesting art and figuring out how to get in front of, and stay in front of them and what it means to be a valuable buyer to them. [00:06:01] Mark McGuire: And so many people misunderstand that they, they have the relationship with brokers confused. People think that brokers are supposed to bring them deals and, you know, brokers are out looking for deals, but the expectation of you telling somebody that you want something one time, A, is bad that, that's a horrible assumption that they're going to actually remember that they talk to you, let alone remember the specific criteria that you gave them. [00:06:28] Mark McGuire: And you want to find a way to bring value to them. 'cause sometimes brokers missed a mark on their pricing. And sometimes, you know, they look at it and we've been in an atypical market where we've been up to the right for the last four years. So, you know, despite how poorly you've operated a deal or priced a deal, like you could sell it just in spite of your, your knowledge base, but there will come a day when you reach the high water mark and then pricing starts receding. [00:06:51] Mark McGuire: And then at that point in time, brokers are going to be calling you asking, what do you think this is worth? And that's where the true relationship, it's a true two-way street at that point where they're coming to you asking, Hey, what would you pay for this and help me understand why because if they're not getting the pricing that they told a seller, they want to be able to go back to that seller and articulate why, what's changed in the market that's prohibiting them from executing on what they said. 'Cause it's an all about reputation and integrity and if you don't have those two things, you're out of the business. [00:07:19] Sam Wilson: Exactly. And you know, to the point, yes, you are a buyer. Yes, you are a quote client of the broker, but like you said, it becomes a two-way, the symbiotic relationship in the sense that you need them, they need you, yes, they get paid, but you also get paid by buying deals as well. So it's and it becomes very valuable when that last step, I think, occurs. Like you said, where they suddenly go, oh, okay. Hey, you know, Mark, what do you think about this? [00:07:43] Sam Wilson: Tell me this is a project we're looking at. What's it worth? And, and they'll, they'll smell. They'll smell it. If you, if you're not telling, you know, giving 'em accurate feedback, low balling 'em with something that, that doesn't make market sense. That's a cool point you make there. Tell me about your first deal you did, and then compare it to the last deal you did. And tell me how things have changed and maybe what you guys are doing differently from the first to the 12th. [00:08:07] Mark McGuire: So the first deal that we did with Hearthfire Capital or the first deal that I ever did relative to one that I just did with Hearthfire Capital? [00:08:12] Sam Wilson: Let's talk all self-storage. [00:08:14] Mark McGuire: Okay, cool. Very first self-storage deal we did, we purchased for, I think it was about 1.7 million. We're actually on market right now at 3.5 million to take that full cycle as we speak here. A lot smaller facility worth about a third of the value. And actually it's worth less than a third of the value. [00:08:37] Mark McGuire: It's just less, it's less decimal points. That's all it is at a certain point though, you know, if you're playing for big, for more decimal points, you got to really know your craft because when there's bigger decimal points, you can create more wealth. The process is the same, but the stakes are higher. [00:08:56] Mark McGuire: You want to kind of start a little smaller, so that way, if you do make a mistake, it, you don't get, I'm going to say totally crushed and knocked out of the game. Go a little smaller in the beginning and that one had no expansion. That one was just a pure revenue play, a pure, you know, optimization, doing some parking lot renovations and converting a particular area, the facility to climate control. [00:09:19] Mark McGuire: And the one that we just did, we bought a 31,000 square foot facility with a 34,000 square foot expansion that we'll be doing. So we're building 34,000 square, effectively taking this facility size to 65,000 square feet and upgrade in the class of that facility. [00:09:34] Sam Wilson: What was the purchase price on the 12th one? [00:09:36] Mark McGuire: Man, now you're testing me. The equity, I think, the purchase price of the, the 12th one was like, you know, dirt and existing facility was like 4.7 million stabilized values going to be in the eight or 9 million range. [00:09:55] Sam Wilson: Okay. [00:09:55] Mark McGuire: And the first one was 1.7 million going to three, three, somewhere between three and three five. We'll see how it shakes out. [00:10:02] Sam Wilson: Right, right. So, so yeah, I mean, obviously you're getting into bigger projects. It doesn't sound like you're playing for the 1.5 or 1.7 million dollar projects anymore. You guys are looking at bigger assets. Tell me on a square foot basis. Like I know 31,000 square feet, is that a small, I don't, I don't own, no, I don't own any, I have a passive investor in self-storage. I don't own any personally. So tell me you know, what's the size of a good facility for you guys? Like where do, where do the numbers make sense? [00:10:28] Mark McGuire: Yeah. So from a sizing, it really kind of depends because, and, and, and I hate to say that, but it's the truth. If you're already established in a market and you can get economies to scale by pulling a property manager from a local facility nearby, and then getting cost shares on the operations side of things, you can go and take that facility and that facility makes sense. If you're going to go and penetrate a new market and stand, set up a flagship, buying a 20 or 30,000 square foot facility is, is going to be challenging unless there's a big, like we're doing here a big expansion on the backside to really get that economy to scale. So if we're, we call them bolt on sites. [00:11:06] Mark McGuire: So if we're going to look at a bolt on-site, we would do 20 to 30,000 square feet. If we're looking at a flagship, it's going to have to be 50 to 60,000 minimal. [00:11:15] Sam Wilson: 50 to 60,000 square feet is a, okay, so that that's kind of the entry-level where you say, Hey, we're starting in a new market. It's gotta be at least 60,000 square feet. How have things changed on the buy side competitively? Like what, what's that landscape look like now for you? [00:11:31] Mark McGuire: You know, it's funny you say that literally that was the call I had this morning with a couple of brokers. I've been reaching out to some brokers I have relationships with 'cause we've been swinging and missing on some deals. And we're just getting outbid and it's, and like, these are deals that when we hear what these things are selling for, I'm like the IRR at the investor level was like 11%. Nobody wants them, invest in a private equity deal with an expansion component for 11%. That assumes everything goes right. If anything goes remotely wrong, you're toast. [00:11:59] Sam Wilson: Right. 11 became 4. Thanks at best. [00:12:02] Mark McGuire: Maybe at best. Yeah. So, you know, we're, like you alluded to earlier, there's a lot of capital pouring into this space and there, and this is like, I always say self-storage is like the halfway house for recovering multifamily addicts. [00:12:16] Mark McGuire: And it's everyone who's sick of chasing diminishing returns and doing stupid stuff to try to acquire a facility that's way overpriced and overbid. And you know, there's not a lot of meat on that bone, it's been picked over. Now all those people are coming into self-storage and people are starting to put non-refundable deposits, which is stupid. [00:12:36] Mark McGuire: And they're starting to do, you know, waving due diligence. Stupid. I mean, it's just literally like, let me just increase the risk factor as much as I possibly can and be as ignorant as possible so I can absolutely make sure to get burned. [00:12:52] Sam Wilson: Do you see, I guess that, and if, and if that's the way you, I guess that is the way you see it, is that eventually they will get burned Where do you want to be when that happens and how are you positioning yourself for that? [00:13:04] Mark McGuire: Well, I don't want to be competing for their deal. I don't want to be competing for the deal the first time, I want to be competing at it after they've lost their shirt and the bank calls their note because they don't make their debt covenants. [00:13:13] Mark McGuire: That's where I want to be. But we're right now, like in order to acquire, I mean, it's an off-market game right now. I mean, and self-storage has for a long time, been controlled by brokers and a lot of the inventory was traded by brokers. And self-storage didn't have that popularity. And I mean, there were times, man, these things are trading for 10 to 12 caps. And that same property that traded for 10 to 12 cap five to six years ago is now trading for six. Like, it's nuts. [00:13:44] Sam Wilson: Right. Yeah. It's absolutely insane. What are the economic things or the environmental moves that maybe have to occur for you to think that it will return to a point where you can then pick up these properties at a discount when these people can't cover their note? [00:13:59] Mark McGuire: So self-storage, what no one talks about in the whole recession resilient thing about self-storage, during 2008, 2009 as a part of CMBS defaults, self-storage was at 0.03%. That is three-hundredths of a percent. Like that's a lot of decimal places in, in front of the decimal, smallest. The next closest, I forget whether, I think it was industrial, I think was the next closest. And it was like, not even close. So self-storage has traditionally been low leveraged. You're talking 65 to 70% loan to value. And you have people that, like, it's not a lot of money. I mean, you're talking like a hundred dollars a month for a unit and the alternative is put it in your house. [00:14:49] Mark McGuire: Well, if people don't have the space in their house, they don't have the money or the income to go buy a bigger house. Guess what? A hundred dollars a month is cheap alternative. So that all being said, I completely forgot the question. [00:14:59] Sam Wilson: What has to happen economically for you? Because you had said, Hey, you see people taking a huge risk, people doing things, you go, gosh, that doesn't make sense. You guys are just, you're making this as risky as possible, paying the most you can. And when you get burnt, you can't cover the note. Then I want to be there to pick it up. [00:15:15] Mark McGuire: So what has to happen is that people don't do their due diligence and a new facility gets built in the three or five-mile ring that totally crushes that other facility who had marginal returns to begin with. [00:15:28] Mark McGuire: And they, and, you know, either they don't meet their debt service or they just barely meet their debt service and, you know, make it out, you know, by the skin of their teeth. But the deal returns are you know, super compressed. [00:15:40] Sam Wilson: Right. [00:15:40] Mark McGuire: So it, honestly, it just takes patience and time. [00:15:44] Sam Wilson: Yeah, absolutely. Tell me about, you know, again, but you just kind of stay on the economic times conversation. You've invested as in, as a, maybe even an active investor in industrial and some other asset classes. How do you feel like you guys are going to weather any, any economic uncertainty and really, why have you favored this asset class over another? [00:16:05] Mark McGuire: So self-storage just provides a really unique aspect to it where it kind of blends hospitality in terms of the dynamic pricing of the rates. [00:16:16] Mark McGuire: But it, it manages that and then has a better sticky factor that's more along the lines of multifamily. But it's got agility to it. So what I mean by that is people don't want to go and move their stuff. With self-storage, if you think about multifamily, right? And your rent is 2000 bucks a month, and someone says, Hey, I'm going to give you a 10% rent increase every six to eight months. [00:16:40] Mark McGuire: If you go from 2000 to 2200 to then, you know, 420 dollars within 12 months, you're going to be like, I'm out of this place. Forget it. Self-storage has 30-day leases. And, you know, if someone's unit rent is a hundred dollars a month and you raise it 10%, that's meaningful in terms of your revenue collected in your NOI. [00:17:02] Mark McGuire: It's not meaningful to the person who's renting the unit who has to then rent the U-Haul truck, pick up all their stuff and then go put it down somewhere else. At which point they may be able to find a place that's the same and probably not cheaper, probably more expensive. And then they got to take the time to move at all. Nobody wants to do that. For $10 a month, you're not moving that. You're not moving your stuff. [00:17:24] Sam Wilson: Right. Yeah. You're going to spend eight hours and 500 bucks moving all of it. And it's like, well, I'll just pay the 10 bucks a month to be done. [00:17:31] Mark McGuire: So then if you go and get another 10% rent bump in eight months, people were like, eh, I don't really feel like moving it for another, you know, $11. That's what happens. And this is how it's just like, you're just tweaking the dial and turning the heat up. And that frog doesn't realize that that water's getting hot. But man, before you know it, it's boiling, that frog is cooked. [00:17:50] Sam Wilson: Right. Right. Tell me about this. What are some storage units right now that you just look at and you go, man, I wouldn't buy that if it were free? What's some garbage out there on the market that makes a bad storage investment. [00:18:03] Mark McGuire: Man, so, you know, what's interesting is aesthetics are such a, an important part about self-storage. Self-storage was used to be marketed to the cheap and three or four years ago, people realized they started doing more analytics, data. [00:18:19] Mark McGuire: I'm sure it was always being done, but it became more widely understood that the people who are willing to pay the most are young females and young females want properties that are well lit and that are aesthetically pleasing and that have a lot of, they have security cameras and solid gates and fencing. [00:18:40] Mark McGuire: They want to feel safe at the facility, 'cause if they feel safe while they're there, then their belongings are safe and therefore it's a good place to rent. And if they have to pay more for that. So be it. That's sanity that's well spent. So a couple of things I wouldn't buy. A, a facility I could buy, you could, you could build an A class facility in, in an oversaturated market that can't support the rent and I don't want that facility. So a facility that's located in an oversaturated market and how do you know if it's oversaturated? You know, there's base rules around square foot per capita, and it's historically been eight to 10 square feet. [00:19:15] Mark McGuire: I think that's totally busted. It really depends on the three and the five-mile rings. You gotta really understand your supply-demand analysis and how to execute that. Once you execute that, or you understand that, like the 8 to 10 square foot per capita is a great 1% rule of thumb, if you will, for storage, but it could be six square foot per capita, but there may not be enough population there to support the demand. Or you got stuff that's built to the wrong sizes. So if you go in and when you're doing your supply demand analysis, you're noticing that this facility is way under-rented, but it's all five by fives and five by tens. And the, the, the market wants ten by twenties. [00:19:54] Mark McGuire: That's a facility that I don't want, like, 'cause you could be 50% vacant. You're like, oh man, there's so much occupancy I could use here. But if it's not what the market commands, unless you can convert it, I don't want it. And then, I mean, ultimately it comes down to, I want a facility that looks, that looks nice, or I have the ability to make nice. And if I can't, the turd is a turd all the way through, and there's no amount of polish that's going to make it sparkle. I'm out. [00:20:20] Sam Wilson: Right. That makes a lot of sense. No, that's really cool. I was just curious, you know, again, with the, with the buying frenzy, it seems like that we are in on so many fronts, you know, what it looks like or... [00:20:30] Mark McGuire: It's asset class agnostic, man, the buying frenzy doesn't care what asset class it is. There's just a ton of liquidity and there's sovereign money coming in now. Where these people, I mean, sovereign wealth funds where they're losing principle balance by not being spent. So these people were like, Hey, if I get 5% on my money, I don't really care. [00:20:47] Sam Wilson: Right. Yeah. That's, that's really, really interesting, but still even in that, even in that buying frenzy market, I'm always curious what those, who are active buyers, aren't, aren't buying and why. And you did a great job of kind of explaining deals that just simply don't make sense even right now. So thanks for doing that. Mark, thanks for taking the time to come on the show today. It was great to have you on learn about your business, what you guys are seeing in the market, how you guys are interacting with brokers, what you guys are doing to get deals sent to you. Again, I love the, you know, just the, the, the information you gave us about how to interact with brokers, how to stay in front of 'em and then, of course, your info there on mentors and how to be of value to them and let them know that you are actually doing what they're saying, and then get them to continue to pour into you by, you know, giving them feedback and following exactly what it is they say to do. [00:21:31] Sam Wilson: So I think that was all awesome information. If our listeners want to get in touch with you or learn more about you, what is the best way to do that? [00:21:38] Mark McGuire: Yeah, best way is investingwithmark.com. That'll put you right through our, our website and capture or contact form and or if you're in on socials Instagram slash investingwithmark. Facebook, same thing, LinkedIn, same thing. [00:21:51] Sam Wilson: Awesome. Yeah, we'll make sure we put those also in the show notes. Mark, thanks again for coming on today. I certainly appreciate it. [00:21:57] Mark McGuire: Awesome. Thanks Sam.
Thanks for watching!!! And Thank you Ms.Llanera for joining us on this episode! Betty ( co-host) = @Betty_mac5 Adonay ( host) = @adonay12.12 Bell let's talk website https://letstalk.bell.ca/en/ The lit podcast show Youtube - https://www.youtube.com/watch?v=06qJ_... Spotify - https://open.spotify.com/episode/3n8B... Apple podcast- https://podcasts.apple.com/ca/podcast... TikTok - @thelitpodcastshow
Today we compare and contrast retraining thoroughbreds and standardbreds with Ashley Francese and Colleen Nolan-Tran. We touch base with our Making the Makeover riders, Raechel Ramsey & Katrina Natwick, and last but not least, we bring you another adoptable horse from New Vocations. Stay tuned! Retired Racehorse Radio Guests and Links Episode 82: Hosts: Joy Hills of The Foodie Equestrian and Kristen Kovatch Bentley of The Horseback Writer, Image Credit: Retired Racehorse Radio Title Sponsor: Kentucky Performance Products Media Partners: The Thoroughbred Makeover and New Vocations Racehorse Adoption Guest: Ashley Francese & Colleen Nolan-Tran Guest: Raechel Ramsey & Katrina Natwick Guest: Winnie Morgan Nemeth Adoptable Horse of the Week: Danger Russ Additional Support Provided by: Listeners like you!
Today we compare and contrast retraining thoroughbreds and standardbreds with Ashley Francese and Colleen Nolan-Tran. We touch base with our Making the Makeover riders, Raechel Ramsey & Katrina Natwick, and last but not least, we bring you another adoptable horse from New Vocations. Stay tuned!Retired Racehorse Radio Guests and Links Episode 82:Hosts: Joy Hills of The Foodie Equestrian and Kristen Kovatch Bentley of The Horseback Writer,Image Credit: Retired Racehorse RadioTitle Sponsor: Kentucky Performance ProductsMedia Partners: The Thoroughbred Makeover and New Vocations Racehorse AdoptionGuest: Ashley Francese & Colleen Nolan-TranGuest: Raechel Ramsey & Katrina NatwickGuest: Winnie Morgan NemethAdoptable Horse of the Week: Danger RussAdditional Support Provided by: Listeners like you!Support the show
Anxiety wants certainty, and when that's not possible, avoidance becomes the demand. Unfortunately, as anxious families fall into patterns of avoidance, anxiety strengthens. Families need a different strategy, a way to break patterns and retrain the worried brain. In this episode, Lynn explains how to build on the first two puzzle pieces of expecting and talking to worry (our first two episodes in this seven-part series). It's now time to DO the opposite of what worry demands: step into situations that actually make worry arrive, and lay down new pathways by responding differently. This puzzle piece is the meat of the sandwich…it takes courage and encouragement, as well as consistency and practice. The worried brain needs the opportunity to relearn. JOIN US IN ORLANDO FOR OUR FIRST FAMILY RETREAT This is our first retreat where you can bring the kids, too, and we're hosting an incredible weekend at the Four Seasons Orlando September 30-October 2. In addition to two morning workshops with Lynn Lyons, you can expect an exclusive Disney party inside the theme parks, and the chance to relax at the country's best family pool. The Four Seasons offers a complimentary kids club for ages 4 through 12. We're half sold, so register today! Rooms start at $459. And there are only 3 private session with Lynn left! THE LATEST ANXIETY MANAGEMENT COURSE FOR PARENTS! MANAGING ANXIETY IN CHILDREN: A GUIDE FOR PARENTS This self-paced course covers the core tools a family needs to manage their anxiety, the same principles Lynn teaches to families in her private practice. This course includes 6 video modules from Lynn Lyons, LICSW, and 9 additional Q&A videos from Lynn and Robin of Flusterclux. What you'll get: Understand how anxiety works so that you can help manage your kids and your own. Learn what to say when anxiety shows up for you or your kids. For Kids: A special video that explains how anxiety works suitable for those ages 6 and up. VISIT OUR SPONSORS FOR SPECIAL OFFERS JUST FOR YOU Auto Approve is an online service that makes vehicle refinancing easier and faster. Auto Approve connects vehicle owners with a network of top credit unions, banks and finance companies to find the best available interest rates – then helps handle the paperwork, simplifying the vehicle refinance process from beginning to end, and putting more money back in your wallet. Refinance your auto loan through Auto Approve, and they'll send our listeners $100 autoapprove.com/adalyst. We've worked out a special deal with Hiya Health for their best selling children's vitamin. Receive 50% off your first order. To claim this deal you must go to hiyahealth.com/FLUSTER. Get your kids the full-body nourishment they need to grow into healthy adults. Better Help: Flusterclux listeners get 10% off their first month of online therapy at BetterHelp.com/lynn. Credit Karma uses your credit data to find loan offers that are personalized to you, so you can have a better idea of what loan amount you can get approved for. Credit Karma will even show you your chances of approval, so you can choose between loan offers that you're more likely to get approved for and apply with more confidence. Comparing loan offers on Credit Karma is 100% free, won't affect your credit scores and could save you money. Ready to apply? Head to creditkarma.com/loanoffers to see personalized offers. FOLLOW US Join the Facebook group to get news on the upcoming courses for parents, teens, and kids. Follow Flusterclux on Facebook and Instagram. Follow Lynn Lyons on Twitter and Youtube. New episodes arrive Friday at 5:00AM EST.
This week Andrew talks with New York Mets pitcher Stephen Nogosek. Stephen has had a great start to his 2022 season—but despite his success he has moved back and forth between the Mets and their AAA minor league team in Syracuse. Amidst all of the change and uncertainty, Stephen always looks ready to go when he is on the pitcher's mound. Stephen talks about his detailed process to continuously grow as a pitcher, how he stays focused during times of uncertainty, and so much more. This conversation is filled with ideas that stretch far beyond baseball and will help you reach your full potential in anything. Show Highlights:1:30 - Reflecting on start of 2022 season2:38 - Controlling what you can control4:43 - Evolving as a pitcher4:52 - Preparation for 20227:29 - Adversity during growth8:18 - Asking others for feedback10:02 - Role of data & analytics13:10 - Mindset of a relief pitcher17:12 - Mets team resilience in 202217:34 - Bullpen working together as a team18:50 - Adam Ottavino as bullpen leader20:36 - Role of Max Scherzer and Jacob deGrom 21:43 - Francisco Lindor's positive attitude 22:20 - Maintaining a positive focus25:02 - Buck Showalter's approach and leadership26:32 - Comparing mustaches with Keith HernandezCONNECT WITH ANDREW ON SOCIALTwitter: @andrewhmosesInstagram: @AndrewMoses123NEWSLETTERSign up for e-mails to keep up with the podcast at everybodypullsthetarp.com/newsletter!
Dr. David Blanchett is Head of Retirement Research formerly at Morningstar and currently at Prudential's asset management arm PGIM. He is also an adjunct professor at The American College of Financial Services. David has been a voracious and accomplished researcher, being published in a variety of peer-reviewed articles, and receiving many ‘best paper' awards. Today he conducts research primarily in the areas of financial planning, tax planning, annuities, and retirement. Listen to Kevin and David do a deep dive into key assumptions made in your retirement planning – investment returns, spending assumptions, longevity, and inflation. Learn from David's original research on retirement spending and how it is likely to decline as you age, including the positive implications it has on your planning. (Hint: you may be able to retire earlier than you think.) Be sure to pay attention to the end where David and Kevin discuss guaranteed income, cryptocurrency, and empirical studies on quantifying the benefits of working with a trustworthy and competent advisor. A big "thank you" to Dr. Blanchett for sharing his research and wisdom. To read David's research, visit https://www.davidmblanchett.com/research Learn more about our Retire Smarter Solution™: https://www.truewealthdesign.com/ep-45-retire-smarter-solution/ Have a financial question? Contact us at https://www.truewealthdesign.com/contact/ Key topics on this episode: 1:05 - Using the spending data to build a financial plan 2:47 - Success rate as an outcome metric 5:27 - Measuring your wants and needs 9:52 - Building guaranteed income 14:16 - Annuities 16:53 - Comparing annuities 20:21 - His recent paper on cryptocurrency 22:40 - Recent/current projects 24:21 - How an advisor adds value
Happy hump day everyone, we usually don't do this but we are blessing everyone with a second brand new episode of the podcast for this week!!!! This episode is absolutely hilarious as we had some returning and new guests drop by the studio! Misa is still in Mexico (RIP??) so friends of the podcast comedians Ponchi Herrera, Steven Puga and Joe Rodriguez stop by and chop it up for a bit as we have some great conversations about some very and I mean very interesting topics!! This episode we discuss: -We are introduced to Joe Rodriguez comedian from Las Cruces, NM -Comparing comedy scenes of Austin, Vegas & EP -Is Juarez a tourism hot spot? - Have you ever been "knee deep" in anything? -Chris fell into a sinkhole -Can you have the same uncle on both sides of the family? -Deshaun Watson -Ponchi invites the wrong Joe Rodriguez to a baseball game -Bam Margera flees rehab facility -Internet Explorer has been shut down -Gas station manager sells gas for .69 cents -Dall-e? -Is George Strait the GOAT -Fan Favorite Five Random Questions for Chris instead and much much more..... As always, thank you for all of the support it means everything to us
Was the Giganotosaurus the villain we were promised? how does it rank compared to the other apex predators like the Spinosaurus and the Indominus rex? Joe and Jacob go in depth and bringing up key moments in the film that prove where the Giga stands compared to the other "bad" dinosaurs in this franchise.
One of the best things about our Nation is that we all agree that we value wild animals. We want them here. But how do we achieve cohabitation and the ugly truths that it forces upon us? Ben and Robert begin the deep dive on how our values shape the worldview of both the vegan and the hunter.
Another look at what I believe will emerge as a popular business model in the fitness industry - the Hybrid gym. A facility that caters to the open gym seeking, come when you want and do what you want type client + has a separate space and dedicated area for group classes. In this episode use an analogy I had with an individual where I used golf and driving ranges as the comparison. Let me know what you think. --- Send in a voice message: https://anchor.fm/wtfgymtalk/message
It's the start of Unrestricted Free Agent Spotlight, beginning with impending UFA Ryan Strome! Strome is coming off a two-year deal that paid him $4.5 million per season and should be in line for a pay raise, but how much of one? Would Strome be willing to take a hometown discount? For those who really want Strome to return, we're tossing out some reasons why it's at least still possible, if unlikely, including his outstanding chemistry with Artemi Panarin and his popularity in the locker room. Comparing and contrasting Strome with fellow impending Ranger UFA Andrew Copp! Episode 623. Intro song is “Leave the Lights On” by Passafire. Support Us By Supporting Our Sponsors! Built Bar Built Bar is a protein bar that tastes like a candy bar. Go to builtbar.com and use promo code “LOCKED15,” and you'll get 15% off your next order. BetOnline BetOnline.net has you covered this season with more props, odds and lines than ever before. BetOnline – Where The Game Starts! Rock Auto Amazing selection. Reliably low prices. All the parts your car will ever need. Visit RockAuto.com and tell them Locked On sent you. Learn more about your ad choices. Visit podcastchoices.com/adchoices
Chris Rose and Trevor Plouffe discuss the biggest topics in baseball including comparing the Giants and Braves, the impressive 2022 debut of Oneil Cruz, potential acquisitions for NL Central contenders, who has a better World Series shot between the Mets and Astros, and a mascot truck-sticking a kid Go to https://www.shadyrays.com and use code TODAY for 50% OFF 2+ pairs of premium polarized shades. 1:26 Comparing the Giants and Braves 5:08 Oneil Cruz 11:00 Riley Greene 14:00 Trade targets for Brewers and Cards 20:55 Mets vs. Astros WS chances 24:06 Mascot truck-stick
Zach, Matt, and 49ers Mike are back to talk about how the 49ers roster is shaping up so far. They look at the positions and examine the differences. They look at Kyle Shanahan as a play caller after a list came out of best play callers in the NFL. They also look at Trey Lance. Follow us on Twitter: https://twitter.com/RGSPod and https://twitter.com/bspnshows Follow our Facebook Page: https://www.facebook.com/bspnfbpage Join our Facebook Group: https://www.facebook.com/groups/1331922510334592 Follow us on Instagram: https://www.instagram.com/49ershive/ and https://www.instagram.com/bspnshows/ Subscribe to our YouTube page: yhttps://www.youtube.com/c/49ersHive Learn more about your ad choices. Visit podcastchoices.com/adchoices
As you remember, Zach Bush MD is a physician specializing in internal medicine, endocrinology, and hospice care. He's also an internationally recognized educator and thought leader on the microbiome as it relates to health, disease, and food systems. Our last conversation, which felt like an energy vortex of connectedness and truthfinding, episode 304, is one of my most streamed ever. This week, he weaves at least a dozen thought patterns that might change your life forever. He is both flatly at peace with the end of all life and truthfully optimistic on our chances. You're going to want to settle in for this one. Open your mind, and your notebook. Zach is a deep pool of mindblowing knowledge and perspective. I'm so excited to bring you this conversation. His supplement brand, Ion, which we also cover, has been a total game changer for my gut health and overall wellbeing. They've been kind enough to share the benefits of their incredible products with listeners of this show. Go to lukestorey.com/ion and use the code Luke15 to get 15% off everything but subscriptions. 00:06:08 — Plant Medicine & The Infinite Knowledge Field Plant medicine: unlocking what's already within us Take Me To Truth: Undoing the Ego by Nouk Sanchez Pitfalls of therapeutic psychoactive substances Zack explains that goosebumps feeling when you're deeply in connection with someone Understanding the universe as an infinite knowledge field Alternate methods to finding this: breathwork, meditation, etc. Psychedelic experiences as mere windows to the astral plane of consciousness 00:21:49 — Falling Out of Alignment with Natural Law Mapping out the likelihood of human extinction Uncovering clues in the Declaration of Independence Incredible, yet forgotten lessons, from Iroquois leaders The living in opposition-to-scarcity-to-ego pipeline Zach's time with the Achuar tribe in the Amazon Lynne Twist being called to them in her dreams Who or what is to blame for the false steps of our species? (it's us) Babies and toddlers' connection to the cosmic field of energy Masculine vs. feminine archetypes as they relate to ego The shift in consciousness that's occurred since 2019 00:52:57 — Understanding What We Are & Are Not How we have access to all information in the universe Power vs. Force by David R. Hawkins There are 27 dimensions, but only 4 are limited to the belief of time Seeing past the veil of the egoic realm to perform miracles Michaelangelo and other artists as capable of doing so Consciousness as the one-dimensional space in which you interact with reality You are an expression of all of the wisdom of the planet Understanding the trauma histories within us We are consumers of life, not creators 01:11:36 — Moving Forward As One Love is not the fabric of life No one has to learn how to recognize beauty Soil's place in our recovery How bacteria communicates The secret of survival is sharing information as fast as possible Viruses are responsible for 50% of our genes Comparing today's circumstances to the most recent extinction event Being a co-creator with the beauty of the universe Finding sovereignty for soil 01:40:44 — Finding & Living in Truth How do chemtrails affect soil biodiversity? Skyrocketing cyanide levels in the atmosphere How Coronavirus interacts with cyanide in the body Direct correlation between global forest fires and the coronavirus Exploring similar variables in the Spanish Flu Zach shares a mindblowing perspective on the capability of 5G CO2 is the secret to life, not our death nail The energetic perfection of biology Humanity as the cancer To restore the soil is to restore everything 02:04:58 — What Zach is Working On Institute of Natural Law & Governance The inspiration behind Ion The intelligence of nature Use the code Luke15 to get 15% off Ion's new skin product Impacts of glyphosate in our diet and environments Biome Capital Partners Farmer's Footprint More about this episode. Watch on YouTube. THIS SHOW IS BROUGHT TO YOU BY: UPGRADED FORMULAS. Have you ever thought about how important knowing your levels is to your performance? Upgraded Formula offers an Upgraded Hair Test kit and consultation, and their minerals absorb well so that you can vanquish any of those hidden deficiencies that are affecting thyroid, adrenal, or much more. Check out the test and consultation at UpgradedFormulas.com and save 15% on your first purchase with code “LUKE15” at checkout. AND... NOOTOPIA. How often do you wake up in the morning and instantly wish you had just another hour of sleep? Imagine having control over how you feel and being able to turn ON your brain within 10 minutes of waking up, without the caffeine. Nootopia is the most advanced brain support and cognitive enhancement system that I've ever tried. Go to nootopia.com/luke and enter coupon code LUKE10 for an extra 10% off. AND… BON CHARGE. BLUblox has been rebranded! BON CHARGE is a holistic wellness brand with a HUGE range of evidence-based products to help you sleep better, perform better, have more energy, recover faster, balance hormones, reduce inflammation – the list is endless. One of my absolute favorites, the super soft Black Out Sleep Mask is a game changer when it comes to getting quality sleep. Go to boncharge.com and use coupon code LIFESTYLIST to save 15% AND… SILVER BIOTICS. Silver Biotics brand allows you to access the power of silver like never before. Their advanced nano-silver solution has become the new standard by which all other silver products are measured, giving you the ability to take control of your health—everything from immune support, skin care, and oral hygiene. Get 30% off your first order at silverbiotics.com using code LUKE30, or use code LUKE for 10% off ongoing orders. Resources Paste directly from show notes above Level up your healthcare ritual with Ion: Use the code Luke15 to get 15% off everything but subscriptions. Farmer's Footprint Biome Capital Partners Are you ready to block harmful blue light, and look great at the same time? Check out Gilded By Luke Storey. Where fashion meets function: gildedbylukestorey.com Join me on Telegram for the uncensored content big tech won't allow me to post. It's free speech and free content: www.lukestorey.com/telegram Related Episodes Link to past episodes with similar content Don't Fear the Virus: Your Body's Immunity Blueprint & Humanity's Awakening w/ Dr. Zach Bush #304
Comparing yourself to others is a reliable way to reduce your confidence, motivation, and self-esteem. It must be natural to make these types of comparisons, because nearly everyone does it. However, that doesn't mean it's a good move.If you want to become the best possible you, avoid comparing yourself to othersContact me at firstname.lastname@example.org and we can talk about how we can work together to help you set your own goals to enable you to be yourself.You can book a 15-minute , no obligation "get to know you " call at this link: https://calendly.com/michael-coach/15-minute-get-to-know-youYou can also learn more about my coaching programs at coachmichaelw.comTo your success
In this week's episode, we chat about how we compare ourselves to our old selves. How easy it is to fall back into those habits that we think feel safe, comfortable, and familiar, when really A. there not invited anymore, and B. it can hold us back in so many ways. We also chat about navigating through comparing ourselves to others, and if we focus on ourselves (easier said than done, we know) it's great to do your own thing and do you. Appreciate others' work but love yourself for your ideas and who you are, because we think you're pretty great!Please subscribe, rate, and review!Follow usInstagram: @girlswanxietypodcast, Heike @heikeleming, and Tessa @tessarookeOur email if you want to reach out and ask us any advice on anxiety or just to say what up: email@example.com GWA
This episode is a REPLAY. Nonetheless, we're still bringing that VALUE. In this episode, we share about the dangers of comparing you relationship to others, how comparison can be a slippery slope and why you have to water your own grass!*Sponsors*Beautiful Briny Sea is an Atlanta-based shop that makes the best dry artisan goods in the country. When you support them, you support US: https://www.beautifulbrinysea.com/ —> 20% off now through June. Use our code: SPICEITUPSUMNERSConnect with us on Facebook: https://www.facebook.com/groups/sumitupsumnersFollow us on Instagram: https://www.instagram.com/sumitupsumners/Watch full episodes on YouTube: https://www.youtube.com/channel/UCmIS3XEX5V5A5XokfDZMdNw/
Welcome to the 2022 electronic Olympics. For our first contest, Tim and Sheron will attempt to sync up their ipads. Later, we discuss Crozier getting in an accident with a Tesla, Sheron's got a brand new bag, and we pay some respects.
Yes there are three different types of body types that deal with fat loss and muscle growth differently but each one still needs effort. Just because someone is a mesomorph does not mean building muscle isn't hard work. Just because someone is naturally skinny doesnt mean it's going to be easy to look more "fit" becasue they're already low in BF. Comparing and assunming things will not get you far towards your goals. Instead of asking these questions and blaming "genetics" how about work hard for the next 3, 6, or even 12 months, and then see what kind of damage you can do with dedication, no excuses, patience, and discipline. Other Episodes to listen to 1) 3 characteristic traits to make you invincible Key Takeaways Is it easier for someone who is thinner to build muscle? Is it easier for someone who is bigger to build muscle? Compared to someone who have more body fat than someone who has a low body fat, who would benefit faster from training and eating clean? My Documentary: "How Training Saved My Life" Episode #1 - Watch here Epiosde #2 - Watch here If you have any questions you want answered or wanting to talk to me directly, head over to: https://www.trainhardlivestrong.com/ask Today's Sponor for the Podcast is brought to you by: Athletic Greens - www.athleticgreens.com/thls
Andrew Stotz talks with Dr. Mustafa Shraim of Ohio University about Deming's approach to variation, comparing it to Lean and Six Sigma. "When you do Six Sigma, you're basically outsourcing your quality to an external source, providing the training, the titles, and all of that. You can cut it off any time. But when you do the [Deming] theory of knowledge and the Plan-Do-Study-Act, you have to commit. The commitment is really the big deal here...the component that is missing [from Six Sigma] is a commitment to quality." SHOW NOTES4:30 Variation 12:40 The problem with Six Sigma 20:40 Statical Process Control Charts 25:44 Deming chain reaction 30:03 Suboptimizing departments 43:01 Management by visible figures 40:05 Why Deming, why now? Driving out fear 50:52 Continuous improvement and Plan-Do-Study-Act TRANSCRIPTDownload the complete transcript here. 0:00:04.1 Andrew: My name is Andrew Stotz, and I'll be your host as we continue our journey into the teachings of Dr. W. Edwards Deming. Today I'm here with featured guest, Mustafa Shraim. Mustafa, are you ready to share your Deming journey? 0:00:19.8 Mustafa: Absolutely, let's go for it. Thank you. 0:00:21.5 Andrew: I'm excited. Well, let me introduce you to the audience. Mustafa Shraim is an Assistant Professor at Ohio University teaching quality management and leadership. Professor Shraim has over 20 years of experience as a quality engineer, corporate quality manager, and consultant. His PhD is in Industrial Engineering. He publishes widely, and he has a passion for Dr. Deming's system of profound knowledge. Mustafa, why don't we start off by you telling us the story about how you first came to learn of the teachings of Dr. Deming and what hooked you in? 0:00:57.5 Mustafa: Yeah. Thank you, Andrew. Thank you for inviting me back. So... 0:01:01.9 Andrew: Yeah. [chuckle] 0:01:06.1 Mustafa: The whole thing started when I was doing my master's and that was the late '80s, at Ohio University, and I was concentrating on the area of quality. So, I was doing research, and my research touched up on what Dr. Deming was doing. I was doing it in design of experiments and quality tools and things like that. But of course, you come across Dr. Deming's work when you talk about quality control, in general, and statistical quality. So, that was the first encounter of learning about what Dr. Deming did in Japan and how he used statistical process control and things of that nature to teach how you can improve your processes, your products, and later on, the management. But at the beginning, I did not really get into his management philosophy so I was more on the technical end of Dr. Deming's teaching which was mainly quality control and SPC, and just improving quality in general. 0:02:24.1 Mustafa: So, as I went... So I went, and I started my first job as a quality engineer, and quickly after that, maybe after one year, I moved to another company, and I became a statistical quality engineer, and I was doing... I was a part of a training program there. I was doing training on SPC as a part of a training for employees at that company. It was a union shop, it was automotive, and so we utilized statistical process control and what Dr. Deming was teaching. So, that was the beginning of it, but later on in the '90s, I started learning more about Dr. Deming after I read "Out of the Crisis" and then "The New Economics" about his management method. In fact, his management methods just captured me. I knew I got hooked on the quality part first, but the management method just brought it together for me. And since then, I've been reading and practicing, trying to at least, what Dr. Deming has taught. 0:03:41.9 Andrew: And would you say... One of the things that I started realizing was that the statistical... What I thought was the end was the statistical tools. And what I started to learn is that, actually, the statistical tools start to have limitations if you're not doing the management of the whole operation in a good way. And I think that that's something that really resonated with me when I started putting the pieces together. How do you see the role... And in a little bit I'm gonna ask you about some more specific tools, but just generally, we have statistical tools, but we also have management. Many people may think that you can just apply statistical tools and solve all the problems, but I'm curious how you see that interaction between the tools and the management style. 0:04:30.2 Mustafa: Well, as you know and many, probably, of your listeners already know that Dr. Deming had understanding variation, or some variation, as a part of his system of profound knowledge. So, understanding variation, under it, is really learning how to distinguish between the types of variation that you would have in any situation, managerial or process situation. So, that interaction there is really big. That really captured me because what Dr. Deming says is like, more than 80% of the application for statistical process control is actually, should be in management, and not necessarily just on the line, controlling quality of the product. So that was... It captured me, and because of explaining how many managers, many supervisors, don't understand the difference between common cause and special cause variations, and they start managing people with common cause variation going up and down, and they reprimand if it goes down, and they praise if it goes up, and that actually just makes things even worse in the future. As you probably know, it's tampering with the process. 0:06:08.8 Andrew: The best way that I've ever come up to try to explain this is to say to people, "Imagine there's 10,000 people in a stadium. They all flip a coin, and you say, 'Hey, if you flip heads, go to one side of the stadium. You flip tails, you go to the other. Everybody sit down. Okay, now... '" Or basically say, "Flip the coin again, and if you flip heads again, so two times, stay standing. And if you flip tails two times, then stay standing, but if you hit the heads and tails, then sit down." And now, your audience is getting smaller and smaller. If you do this 10 times, you will have 10 people, generally, you're gonna have 10 people that have flipped heads consecutively 10 times, and people that flip tails consecutively 10 times. 0:06:54.1 Andrew: And if we said, if we started off the whole game by saying, "Tails is bad." Now you've got some people that have done bad 10 times in a row, and some people that have done good 10 times in a row. But we know, because of the design of that example, that it's purely random. So, the question... So, we can understand that, but when we think about random variation, what Dr. Deming started to do is show us how that fits into management and psychology and how we're missing that. I'm just curious if you can help us to understand how that variation fits into that management 'cause you started talking about rewarding and all that. So, just curious about how those things fit together. 0:07:38.7 Mustafa: Right. For example, within the control limits, and those are the limits that are on a control chart, and they are spaced three standard deviations up and three standard deviations down. All the variation within is mostly a common cause variation, and it's due to the system. It's a system variation. It's not attributed to any special cause whether it's operator or something else that changed. So, distinguishing between the two becomes very important because if you don't look at variation from the perspective of a control chart, what happens is that you are in the weeds, and you look at every point as either really high up or high down cause you don't have any perspective as to how to evaluate or filter this type of variation. On the other side, also you don't want to not react to something that is special. For example, if you don't have the control limits, and if you don't have a proper way of looking at the variation, then you might end up also passing a special cause as a common cause, or not reacting to it enough to fix it and to make it a part of your controllable system before moving on. 0:09:16.7 Mustafa: From both perspective, I think it's very important for managers, for leadership, to understand why we do this. It's not just something that you have to do on the production line. It is something that you have to do in management based on performance. Look at your data and see if it's a stable process in control or if it's not, then you need to start eliminating those special causes. Like Dr. Deming said that, "Nothing really is born perfect as far as the processes." I'm paraphrasing here. But when you start a new manufacturing process, it doesn't mean that it's going to be in control; you have to work at it. You have to eliminate one by one all these special causes that come up before you start seeing a stability. And then after stability, then you will be able to work on the system part of the process, which is a long-term continuous improvement projects. 0:10:29.9 Andrew: Yeah, it's interesting. I remember a story. When I was working at Pepsi, we had a bottling plant in Los Angeles that I worked at. And the management were putting pressure on the people that were running the bottling machine because the variation of the level of the liquid in the bottle was getting wider and wider. And so, as a supervisor on the factory floor, my job was to go and kick ass, basically, and tell the guy, "Hey, come on, what are you doing here? You're messing around." And he just said, "Look, Andrew," and I was a young guy who listened to what these guys said, and he said, "Look, look at that machine over there. They spent the money to buy that filling machine over there, and you see there's no variation. Look at the old machine that they've got, and they haven't bought the parts to repair it. I keep telling them, if they don't buy these parts, I can't get to that point." And he was like... And I realized at that point that it was a management decision that needed to be made to reduce that variation at that point. It wasn't an operator that we should be punishing for that. And I think I wasn't that popular bringing that information back to management 'cause they wanted to say, "Well, no. It's the worker," and that's where I started to think about that common cause variation, and how do you improve and reduce variation? 0:11:48.3 Mustafa: Right, right. And if you leave it also to the worker, sometimes if they don't know what to do, they start tampering with the, actually, production process, and it makes it worse. So, a training for them on variation is also important. It's not only for management but also for workers as well. 0:12:08.2 Andrew: Yeah, good point. I know your expertise in this area is so valuable, and I think that it's great to have you maybe break down the following four terms that we hear, and maybe just generally discuss the differences, and then we'll talk about them in more detail. But the first term is Lean or continuous flow, the second is Six Sigma, the third is 14 points, and the fourth is system of profound knowledge. So, maybe just give an overview. What are these things? What do they mean? 0:12:40.0 Mustafa: Okay. Well, the Six Sigma part came about in the mid '80s and started in Motorola, and a lot of people already know that. And the reason it came out is because Dr. Deming's contribution in the '80s just brought a lot of attention to variation. In addition, you have also some big issues like the Ford transmission issue that came up. And there was a study about variation, and so there was a lot of attention being focused on variation. So Motorola... Somebody at Motorola, Bill Smith, an engineer over there, actually, came up with this idea of Six Sigma. And what that means, in general, is that if you have a spec that is a certain width, like upper and lower spec limits, then you want your process to operate in about half that space. Basically, that gives you good capability of the process, and then you don't have to worry about it. The first problem that came about from Six Sigma was the controversy about the shift. The people who invented Six Sigma, or packaged it together, said, "Okay. Well, we know you wanna operate exactly in the middle, but, normally, processes shift like one-and-a-half standard deviation here, or one-and-a-half standard deviation there so we want to allow that." 0:14:18.7 Mustafa: So, that is one of the biggest controversy because when you shift something like that, the process may be out of control without knowing. So, they did not really take that into consideration, although they are teaching control charts within the Six Sigma body of knowledge, so that was not really taken care of there. But that was one of the flaws that is out there in Six Sigma. Now, there are topics in Six Sigma that are... They're okay. We can teach certain topics on continuous improvement, root cause analysis, things of that nature. But the statistical thing here was wrong. And again, the reason Six Sigma was popular is because it is packaged the way it was packaged. You have companies buying this, and you have all the titles that came with it, and you know how companies love titles, especially here in the United States. So, you got all the belts; everybody must have a belt. You gotta go through training, you gotta... And then after you get your belt, what happens? You're gonna save us money. You're gonna have to do projects, and your job is to save me 20, 30, 40, 50,000 or 100,000 sometimes. So, that was the Six Sigma part of the whole thing. 0:15:51.6 Mustafa: And so, the Lean later became Lean Six Sigma. But Lean, by itself, came from Japan, originally. It's eliminating waste. Think about things like over-production, waiting, inventory, extra motion, all of these little things that you think they're little, but when you put them together, that's a lot of waste. So, to make the process flow better, you need to eliminate all of this waste. It's more about productivity and moving things faster within the organization. Then, when we contrast that with the 14 points, the 14 points are the system for management. It's all about... It's about management. It's also about quality, like improving forever the processes and systems for example, and have a constancy of purpose like the first point says. This was the application of what then became the system of profound knowledge as we know it. I don't know... I don't wanna go too far with definitions and things like that, but the Lean Six Sigma, they had the problem of the statistical flow from the Six Sigma part, and then you have all the management by numbers, management by objectives from both the Lean and Six Sigma. 0:17:30.3 Andrew: And I'm gonna try to summarize what you just explained by talking about the Six Sigma. Is what you're saying the flaw or the issue was is that, in order to try to get good quality, why don't we just set our expectations of what we're gonna get out of the system so tight that when we actually produce, we're in a narrow range, but we're never... Let's say we don't allow... We built the system with so much margin of error that even if we move around in our output, that that still is within a very tight range. Is that the concept? 0:18:10.5 Mustafa: Yeah. That is the concept. But the problem with that concept is, if you move around, if you let the process move around one-and-a-half standard deviation, for example, which, what it says, this indicates that you could have special causes that you don't react to. You don't know at that point because you have moved the process. You end up having special cause variation based on that shift because that shift could be real, a special cause and not just allowing natural... Naturally, the process does not move one-and-a-half standard deviation 0:18:53.0 Mustafa: all of a sudden because there are tests on control charts that if the process... For shift. So, if the process, for example, gives you nine points in a row on one side of the center line, that's a flag because that's a shift. That's a shift in the process. Now the process shifted on you, and you're not reacting. You're not doing anything about it, so you have to stop and take a look at it. So, what Six Sigma is saying is, "Yeah, the process could shift one-and-a-half standard deviation." But in statistical process control terms, it can't without reacting to it. 0:19:37.5 Andrew: And a simple control chart, or run chart, will probably reveal this better than looking at a histogram type of chart, like a Six Sigma type of chart where you're observing the output of the system moment by moment. Would that be correct to say? 0:19:56.5 Mustafa: Right, right. So, the control chart... And I did a paper... And there are people that are out there and doing the same thing. I did a paper and showed that if you move the system one-and-a-half standard deviation, you will see all these points beyond the control limits by simulation, simulation of the process. You move it, and you'll start observing so many points being out of the control. And so, if you allow it, then all of a sudden you start seeing all these points beyond the control. And what do you do? So, there is nothing to cover that within the Six Sigma body of knowledge. 0:20:40.7 Andrew: And maybe it's a good point just to talk briefly about the control charts and what Dr. Deming taught about that. I think when I started seeing the control charts as he was describing them, I started to see a real intense focus on looking at... at trying to understand what's really happening with this system and trying to observe it in real-time. And the more that you did that, the more you really start to understand what's driving the performance of that system. So, maybe could you just take a moment, think about the listener or the viewer that doesn't understand the control charts yet, maybe just give a big picture about what those are, and what's the value of them? 0:21:27.7 Mustafa: So, the control chart is basically... If you think about plotting points over time, that would be a run chart. So, just looking at your performance over time and just plotting points, that's a run chart. A control chart is basically taking the run chart and creating control limits on it. And the control limits came from Dr. Shewhart who invented the control charts. And he put those control limits to minimize a couple of mistakes: not reacting enough when you have to, and not over-reacting when you see something. They were more economics. They were not statistical in nature. They don't really depend on statistical distribution or anything like that. They are very robust. They can be used in a variety of applications without having to look at the distribution of the data. And they tell you when to react to a special cause and when to leave the process alone. 0:22:41.3 Mustafa: So, when you leave the process alone, it means that you have common cause variation, just the systemic type of variation that occurs over time. But that doesn't mean that you don't work on it as management. This is a management part of the work. So, when you have a stable process, it means that this is a time for management to initiate, maybe, continuous improvement project or initiative to reduce that variation, and not... Because you can be stable and in control, but you still have a lot of variation in the process. So, the spread is very wide in the process or, in the control chart, it will be going all over with a lot of variation, but it's still within the control limits. It could have this kind of scenario. And that's when management has to step in and say, "Okay, we need to look at this from a big picture and try to look at all the causes and do some kind of continual improvement." 0:23:53.3 Andrew: Mustafa, I would think that when you look at it, it turns out that it's like a continuous experiment. And you're looking at the outcome in a control chart, and you're trying to think, "Okay, if we... " Let's just say that we add a new piece of machinery. We upgrade a particular part. Then we look and say, "Okay, how did that impact the output of the process?" And then you start to see that what you're talking about, and I think what Dr. Deming is talking about was the idea that, start to get this intense focus on how do we improve this process? And how do we reduce that variation to a point? There's no point in reducing it beyond a certain point. But just that focus. Whereas with Six Sigma, it's kind of a theoretical thing, and there's other aspects that you've talked about. But just that, a control chart really allows you just to focus on testing and understanding that the whole... The output is a function, not only of the people on the production line. Let's say if it's in a factory, and it's the machinery, it's the way you organize, it's the shifts that you work. It's all of these things. So, I can't help but think that it's kind of like the fun of testing and seeing the result coming out of it. 0:25:09.1 Mustafa: Right. When you say a special cause, it doesn't mean always that it's bad. It could be good. But you have to study it, and you have to see what happened. So, was it intentional? Was it unintentional? But at least you would stop and look and study. And that's the idea. It's not just to let it go without studying it. On the other hand, the common cause, you're just looking at the width of the variation in general. And you try to reduce that, like you just mentioned, over the long run. 0:25:42.0 Andrew: So... Go ahead. 0:25:44.8 Mustafa: No, I was just gonna go back to Dr. Deming before I move to Dr. Deming's chain reaction model. I use that all the time. I use it when I was doing workshops in industry, and I use it now in my classes. And I put that... The chain reaction model. And what the chain reaction model for those of the listeners who are not familiar with it, Dr. Deming says that, "You have to start with improving quality, and the rest is just a chain reaction." So what happens is, when you improve quality, and that is, and what he's talking about here, is a commitment by management to quality. It's not just a one-time improvement of quality, it's a commitment on improving quality. Then you start seeing defect decreasing. You start utilizing equipment better. Errors decrease and all of this becomes much less. Your productivity, as a result, goes up because the cost is down, or your input cost is down so now your output is better, and you have a good productivity which keeps you in business, and you provide better jobs to your community. I think... 0:27:18.8 Andrew: That topic is so interesting because I think most people, at the time of Dr. Deming and even now, think quality is a department; quality is something we apply in a certain area. And when you think about setting the purpose of a company to improve quality, it's a very risky thing. Most people think, "No way. Our company is about sales. Our company is about profit. Our company is about customer satisfaction," or whatever that is. Those things all are the intuitive things that we come up with to say, "That's what drives our business." And Dr. Deming, what you're saying is that... Dr. Deming says, actually, the chain reaction that starts from quality leads to all of those things. Can you elaborate a little bit more on that? 0:28:07.5 Mustafa: Right. So, we know that we have to start on quality. But take, for example, companies that are engaged in Lean projects. So, what they do in Lean projects, you try to eliminate waste. And eliminating waste could also be a risky business if you just arbitrarily start cutting costs of material, of employee hours, or eliminating jobs, for example. If you take it from the productivity block of the chain reaction model, you go nowhere. You gotta go back from the quality, improving quality, and that's where the chain reaction starts. But for many Lean projects, they actually start from the productivity block. So, improve productivity from the productivity block, that doesn't really work because you are not committed to quality at that point. So, what happens is, you start maybe buying cheaper material or eliminating jobs. That might help you in the short run. The short run may be the next quarter. It's going to help you out. You're gonna improve the bottomline. Later on, all of this is going to come back as customer complaints, returns, issues with employees, lack of motivation because now they have to do more with less hours, and so on and so forth. But it creates a whole set of problems that are addressed in the system of profound knowledge from the psychology part to the learning part, and knowledge and the PDSA. 0:30:00.4 Andrew: So, let's go back to then now. I wanna talk about the system of profound knowledge so that the listeners out there, some of them understand it very well, but some of them may not understand what that means at all. So, now we've kind of been through a little bit about Lean. We've been through Six Sigma. We talked a little bit about the 14 points, and I think the point that you're just making is that when you look at Dr. Deming's 14 point, first one is create constancy of purpose. The second one is to adopt a new philosophy, and the third one is to end dependence on quality inspections. It's like those top three are telling the senior management, "Your job is to improve quality." That is what's going to lead this chain reaction. And I think you've illustrated that in your discussion really well. So, take a moment and tell us about system of profound knowledge as you see it. 0:30:49.8 Mustafa: Okay. So, the system of profound knowledge is... There are four pillars or four components to it. And the first one is appreciation for a system, meaning that you have to see systems in place. You have to do a connection of different parts together, that you cannot do things in silos. You cannot suboptimize. You have to look at the aim of the system, and you try to work for the aim of the system, not the aim of each department. But with that comes the idea of creating the variation part, and what is systemic variation and what is a special cause variation? Systemic variation is a part of management's decisions. They have to make improvement on that in the long term. And how you react to variation. So, if the system has a certain capability, and then you ask somebody, "Okay, I want you to get me that which is up here, way up. That's your objective." If the system is not capable, what is the employee going to do? They're going to try to create that number to please the boss. As Dr. Deming was referring to, they tried to please their manager or the boss. So, you might take risky steps to do that, including maybe fudging numbers or coming up with ideas to create that number. 0:32:37.1 Mustafa: And that goes to psychology, so now you are... You don't feel good about it. You have to keep your job. You have to do all kinds of stuff to make sure that you don't lose your job because you could not achieve that. Now you become less motivated. You're not really engaged. And what happens? They provide you with incentives, outside incentives. Bonus is based on work that you have to do, but the system is incapable. You cannot perform beyond what the system is capable of. So, that creates all kinds of problems. And the last part is the learning part or theory of knowledge, and that you have to have a method. You have to have clear definitions and, basically, you have to know what you need to accomplish, and by what method and how you know when you get there. That's a theory of knowledge. There is no knowledge without a theory, and it has to be... It has a temporal element in it, meaning that you revise the theory, and you create more knowledge. So, that's in a nutshell how you... How all of these components are related to each other. But to me, the systems and variation, they're just out there, and I see it everywhere as a problem. 0:34:14.3 Andrew: Yeah. So, to summarize, the system of profound knowledge, as you've explained, is appreciation for a system. Number two is knowledge of variation, number three is a theory of knowledge, and number four is psychology. And one of the things that I came to learn about Dr. Deming is, I always say he's a humanist. He's a person that really sees that people should have joy in work, and he wants to see people reach their full potential, and he understood the powers of incentives like you just explained. So, now that we understand a little bit of the theory of the system of profound knowledge, what is going wrong out there in this world? Let's talk just briefly about, why is this so significant? Come on, I just go get my black belt in Lean Six Sigma and the problems will be solved, but what is it about the theory of profound knowledge that... Or the system of profound knowledge that people should pay attention to now? 0:35:21.5 Mustafa: Well, with... For example, let me just take it from a different perspective. If you look at Lean projects, and you eliminate. for example, waste. if you don't have a system of profound knowledge to check all of the things that needs to be checked, like variation and psychology and making sure that people are not fearful to do their job, then you're creating other problems, not only just... You're not just reducing waste, you are actually, maybe having... overburdening the employees with removing waste because when you remove waste, you may be removing jobs, you may be removing hours, you may be removing employees. That would create a overburden. You could also create problems for the customers and fluctuation and defects and variation. 0:36:21.8 Mustafa: That's why the system of profound knowledge is an integrated system. It's not a just one piece. Once you start going from one door, you gotta address all the other components that are tied together to it. So to me, from whatever door you go in in the system of profound knowledge, let's say you go from the psychology which is you drive out fear. You create a good climate. You do all of these things, then you start seeing people coming up with innovations, reducing variation, and working together collaboratively which creates a good system. So, whatever door you go in, you're going to get to it because they are connected. There is no way that you're not going to address the other points if you have knowledge about the other points. 0:37:15.0 Andrew: It's an interesting thing that I would say in modern management, in modern life, people are trying to compartmentalize things and thinking that being a specialist in a particular area, whether that's medicine or whatever in business, that by compartmentalizing, it gives us comfort that we can become an expert in this area and all that. But what you can see... And I'll tell you, Mustafa, about my mother who I take care of. She's 83. And if we have a problem with her foot, the doctor may say, "Okay, don't walk for a little while." Well, that causes another problem. You start to risk bedsores. You start to have problems with GI system. And what you find nowadays in medicine is it's getting more and more narrow where doctors are not seeing the holistic pieces, and I see myself always constantly thinking about the whole picture to that. And I think what I'm hearing from you is that, that we should be looking at things more holistically, and that's what the system of profound knowledge is teaching, is that... Would you say that? 0:38:24.1 Mustafa: That's exactly right. That's exactly right. So, you have to... The main thing there is, companies, traditionally, they try to just suboptimize through their management by objective, "We want each department to save so much money," and then, once they start doing that, everybody affects the other negatively, but they don't know until later on that they have done that. You might gain the objectives in the short run, but in the long run, it's going to be disastrous for the aim of the organization. 0:39:03.9 Andrew: So, you just raised another point that Dr. Deming teaches about is suboptimization. And what he tried to teach was that the objective of the senior management of the company is to optimize the system, not its component parts. Have you seen... 0:39:19.9 Mustafa: Right. 0:39:20.9 Andrew: In theory, people should know that, but how is that going wrong in this world these days? And why is it important to be thinking in this holistic way that Dr. Deming was teaching? 0:39:32.5 Mustafa: Because companies, if they don't do things systematically, and they don't apply the whole system of profound knowledge, altogether, they're going to rush into money-saving exercises, and those money-saving exercises could be replacing material with lower-grade material. It could be, maybe, not hiring experts and hiring somebody who doesn't know what they're doing, and not providing training, or cutting training, or foregoing maintenance. There are so many things that you can start focusing on because you have issues. So, you have issues with a customer, and you start focusing on cutting costs, arbitrarily, not with a method, arbitrarily starting cutting costs in different departments. When you put it all together, just things don't merge well together because you're trying to suboptimize. You're trying to lower the cost in each department and not really improve the aim, or attain the aim of the organization as a whole. 0:40:48.3 Andrew: We've covered so many different topics. It's pretty exciting, like this sub-optimization. I think is a really interesting one. And I wanna raise a new topic that is the opposite of one of the topics that you raised. You talked about the chain reaction. Let's talk about the opposite chain reaction. I'll tell you a story in my own coffee business. We had put some pressure on some of the people in the procurement part of the business to reduce cost. That's reasonable. Management wants to reduce cost so there we go. We put pressure on them, and we told them... We incentivized them. And what we saw was that they ended up proposing a lower quality coffee bean, green coffee bean. The production people didn't like it because all of a sudden they had to recalibrate the machines. So, there was already a cost right there because the... It was harder to hit the client's demand of what taste that they want, consistently hit it. 0:41:47.9 Andrew: Then the people that were delivering, when we delivered the product to the customer, we had some returns where the customer is like, "No, I don't like this taste," or that we would have much more variability. And all of a sudden, we had customer complaints. And then we started to realize that, "Okay, now we gotta go and replace that with the proper stuff," and then all of a sudden there was all kinds of cost. So, the chain reaction you talked about was, start with quality and you start to reduce costs throughout the chain. And a reverse chain reaction is when you start by trying to optimize one point and not realize that it's a whole system, and therefore what you've caused is a negative chain reaction of cost just when you thought you were cutting costs, you're actually raising costs. 0:42:33.7 Mustafa: Right. That is a great example of that because what you've done is maybe just looking at the productivity part, you wanted to make sure that the costs were down so trying to turn the knobs on certain things, and then it just backfired on the quality part, increasing errors, increasing customer dissatisfaction and all of that, and that happens all the time. 0:43:01.4 Andrew: And that's what Dr. Deming says, "How can you measure the cost of a lost customer? How can you measure the dissatisfaction and the frustration?" Some things are just unmeasurable. So, I wanna... 0:43:15.2 Mustafa: Right. So, that brings about the issue of visible figures. You're managed by visible figures only, and not really the stuff that are behind the total cost, which some of it is unknowable or unknown. 0:43:34.2 Andrew: Now, Professor, this is really strange. Here we are, talking about quality. You're such an expert in all of these statistical methods, and now you're saying, "Wait a minute, you can't just measure by visible figures." So, this is again a paradox of Dr. Deming where you come into his teaching, seeing all of these numbers and all that, and now what you're telling me is it's not just visible figures. Could you just elaborate on that? 0:44:02.7 Mustafa: Yeah, absolutely. Visible figures are figures that are available right there for you, and you just react to it. If things go up, you wanna reduce costs. You just take action. But visible figures are really a limited part of the whole story because the total cost of not doing things right or not following the Deming management method. They're not going to be... You're not gonna see them until later on. You may be able save for a quarter or two but, beyond that, things are going to start accumulating in terms of defects, returns, and things of that nature. So, from the Deming point of view, the visible figures are only a smaller portion of the total figures which cannot be measured at the time you're looking at the numbers and taking action. 0:45:04.3 Andrew: It's interesting because we hear sayings like, "What gets measured gets managed," and those types of sayings. And one of the things that I... When I teach young people about this, I oftentimes say, "Well, let's just look at a simple thing. What is the value of a hug? Measure it." It's immeasurable. Particularly, in a particular situation when someone is traumatized, or in a really painful situation, and that hug made a huge difference in their life that could actually have kept them alive and led them to another so that... I think that's the visible figures that you're raising. It's such a small part of this world. The bigger part is how it all fits together. And so, I think you really inspire me to rethink about this concept; that it's way beyond just visible figures. 0:46:03.5 Mustafa: Absolutely, absolutely. This thing is just... One of the things that really captured me with the Deming philosophy is visible versus invisible figures, and the sub-optimization part versus the aim of the system. And those things are just so powerful when you think about them, when you think about why we're promoting, or why we're talking about Deming, and why now and all of that. It's these things that are very common these days. And they have... To have a good system, to have good management, you have to eliminate management by visible figures on... You still have to have visible figures, but visible figures-only is what Deming is... What it was Deming opposing. What he was against, I guess. 0:46:57.8 Andrew: Yup. And you said, "Why Deming? Why now?" And I'm thinking about it myself. And my answer to that is that we have a whole generation of young people who think that successful management is, maybe, sitting at their desk behind a computer looking at KPIs. And then, when someone is down on their KPI, send them an email, kick their butt. And when someone is up on a KPI, give them a bonus, and that's it. And then you go home at the end of the day. And they're so lacking in the psychology aspect of the system of profound knowledge, but just in what management truly is. So, from my perspective, "Why Deming? Why now?" is because we have the risk of it turning into some kind of automation system of management that will always end up underperforming. Why would you say, "Why Deming? Why now?" 0:48:00.5 Mustafa: So, as you can see that, for me, "Why Deming? Why now?" is I don't see management using variation as a way to distinguish between the common cause and special cause, and also their reaction to it, or the mistakes that they make as a part of it. So, that's a big thing. The other thing is the fear that people are experiencing at the workplace. Recently, we've heard about the great resignation. People just don't wanna go back to work anymore. And a lot of people expressed that they just don't like the environment that they work in. And we know that most people, about 70% of people who quit, they don't quit because of a pay or anything like that. It's because of relationship with their bosses and the company, and they just don't feel that. So that the environment has a fear in it. So, when you create fear, you're not going to have people that contribute and collaborate, and I think that's big. If we learn anything from this whole pandemic, it is that you have to create an environment of trust because if people are away working virtually or work in the office, you shouldn't have to worry about them if you have created that environment or the trust. 0:49:34.6 Andrew: Yup. And you mentioned about the pandemic. If there's one thing we've learned, fear is a massive motivator. The level of things that people have gone through in a state of fear, things that people would have never imagined that they would have done. And so, I think what you're talking about is just one more of the many Deming principles, which is to drive out fear. And I just wanna summarize some of what we've gone through, and then we'll wrap up. So, we've talked about the differences between Lean and Six Sigma and Lean Six Sigma. We've talked about Deming's 14 points. We've talked about the system of profound knowledge. We've talked about optimizing versus sub-optimizing. We've talked about the chain reaction, and I gave the example of a reverse chain reaction. And then, we talked about visible figures and understanding that there's much more than that, which is such a paradox for me when I first started learning Deming's teaching because I thought I was gonna take comfort in those numbers and the visible figures, but he told me, "No, no, no. There's much more." And finally, we talk about fear. Is there anything else that you would add to this final wrap-up of the conversation? 0:50:52.3 Mustafa: So, we started talking about Lean and Six Sigma and... Six Sigma is a continuous improvement process, but you don't really need to use it to... You can use the Plan-Do-Study-Act to it. There is no problem if you use it, and you recognize what's wrong with it, and you try to fix it. There's no problem with that. But, I think the Plan-Do-Study-Act and the theory of knowledge is sufficient for you to start working on things. But, like I mentioned, some companies, they like the titles and the tags and the big investment because then they use that as a motivator to get people to start working on projects to bring money back, to save the company the money that was spent on them. So, that's the only thing I wanted to add is just like you can't just rely on something that is big. The Plan-Do-Study-Act was good enough, and I think it's good for any organization. The problem with applying the Plan-Do-Study Act is that you have to have management's commitment because remember, when you do Six Sigma, you're basically outsourcing your quality to an external source, providing the training, the titles and all of that. You can cut it off any time. But when you do the theory of knowledge and the Plan-Do-Study-Act, you have to commit. The commitment is really the big deal here, or the component that is missing is a commitment to quality. 0:52:44.9 Andrew: Well, in wrapping this up, I wanna come back to where we started. Where we started was you were a young master's student and coming out of studying about these tools of statistical methods and all of that stuff, and you entered into our conversation, and you entered into the introduction to Dr. Deming through these tools. But here we are at the end of this interview, and now you're talking about such much bigger issues, and I think, for me, that inspires me about what Dr. Deming has taught because it is expansive. And the more you study it, the more you see it's way beyond just tools. So, Mustafa, on behalf of everyone at The Deming Institute, I wanna thank you again for coming on the show and sharing your experience with Dr. Deming's teachings. Do you have any parting words for the audience? 0:53:41.5 Mustafa: All I have to say, you gotta get started somewhere, and the system of profound knowledge is it. So, I would definitely recommend... I have been through many of the seminars that the Institute offers, and I would highly recommend that and also getting Dr. Deming's book "The New Economics." That's a good start. Of course, the follow-up is also just as important and continuing with the journey. 0:54:15.7 Andrew: Well, great advice. Get "The New Economics;" read it. It really sums up a lot of Dr. Deming's teachings. He put it together right at the end of his life. And that concludes another great discussion within our worldwide Deming community. Remember to go to deming.org to continue your journey. This is your host, Andrew Stotz, and I will leave you with one of my favorite quotes from Dr. Deming, "People are entitled to joy in work."