Three Groups: Only One Is On The Right Side of Change : Chris

Three Groups: Only One Is On The Right Side of Change
by: Chris
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The Finxter mission is to help you stay on the right side of change. In this article, I’ll philosophize on the question:

Why do some benefit from change while most do not?

It’s tough to see through the many layers of societal and cultural obfuscation. But simplification helps, so here’s a simplified categorization into three groups.

  • ❌ Group 1: The Overt Deniers 👈 *minority, no benefit*
  • ❌ Group 2: The Passive Observers 👈 *majority, marginal benefit*
  • ✅ Group 3: The Strategic Navigators 💫 *minority, massive benefit*

The first two groups are not on the right side of change. The first group will lose everything over time. The second group (majority) struggles and will gain only little from change, at most. But there’s hope, the second group can simply move to the third group — it’s simple but not easy.

Group 1: The Overt Deniers 🥸

The Overt Deniers remains anchored in the past, failing to recognize the approaching tides of change. Their narrative mirrors those who, at the onset of the automotive era, staunchly believed in the continued dominance of horse-drawn carriages. Dismissing innovations as temporary fads, they find themselves increasingly isolated from the forward momentum of society.

The overt denier says things like these:

  1. “Why would anyone ever need an automobile when we have perfectly good horses?”
  2. “The television is just a fad. Radio will never go out of style.”
  3. “Who’d want to read books from a screen? Paper will never be replaced!”
  4. “Flying in the air? That’s for birds, not humans. These ‘aeroplanes’ are pure fantasy.”
  5. “Sending a man to the moon? That’s just science fiction nonsense.”
  6. “Electric lights? These are just a novelty. Candles and gas lamps are timeless.”
  7. “The telephone? Why would I want one of those when I can just send a letter?”
  8. “This rock and roll music is just a phase. It’ll never last!”
  9. “Digital photography? No one will ever trust a photo they can’t hold in their hands.”
  10. “Online shopping? People will always prefer to go to stores in person.”

These statements encapsulate the skepticism that innovators often face when introducing groundbreaking ideas and technologies.

Today, overt deniers would say things like:

  1. Bitcoin: “Digital coins? Sounds like Monopoly money to me. I’ll stick to my tangible cash, thank you very much!”
  2. AI: “Machines thinking for themselves? Ha! I’ve got a toaster at home that can’t even get my bread right!”
  3. Self-Driving Cars: “A car that drives itself? Next, you’ll tell me my coffee mug will start brewing its own coffee!”
  4. Electric Vehicles: “Battery-operated cars? What’s next, wind-up airplanes? I’ll stick to my good ol’ gasoline engine.”

Everything is lost for the overt denier. The only chance they have is to move to group 2. Adapt or die – evolution is cruel!

Group 2: The Passive Observers 👀

The Passive Observers: A larger contingent comprises those who, though cognizant of the looming shifts, fail to take active steps to capitalize on them. Their hesitation or inaction often leads to missed opportunities. Here are ten emblematic instances where passive observers recognized potential but failed to act:

  • Bitcoin’s Emergence: Many saw its potential early on and even read the whitepaper but hesitated to invest.
  • Electric Vehicle Revolution: Despite forecasting the dominance of EVs by 2030, they refrained from investing in companies like Tesla or BYD.
  • Rise of E-commerce: Recognizing the potential of online shopping but not buying into platforms like Amazon early.
  • Advent of Streaming: Using platforms like Netflix but not seeing its investment potential.
  • Mobile Revolution: Witnessing the shift from PCs to mobiles but missing out on the growth of companies like Apple. Developers saw the app store early but ignored creating simple apps for the iOS app store when it was still easy to reach millions of users with a simple game or app.
  • Solar Energy: Anticipating a green energy shift but not aligning with leading solar companies.
  • AI and Automation: Recognizing the role of AI in industries but not investing in AI-first companies (e.g., Tesla with Optimus bot).
YouTube Video

  • Gig Economy: Using services like Upwork, Uber, or Airbnb frequently but failing to see their disruptive potential.
  • Cloud Computing: Benefiting from cloud services but not investing in pioneering companies like Microsoft Azure or Amazon Web Services.

Most people are open to change and accept disruptive technologies. But they don’t position themselves to benefit from change. If you see change, but don’t gain from it, you’d have few advantages over group 1.

Let’s move to the only group that really benefits from change:

Group 3: The Strategic Navigators ⛵

The Strategic Navigators not only spot the winds of change but also adjust their sails to ride them. They actively engage with emerging trends, ensuring they’re positioned favorably as these trends become mainstream. Their proactive nature and foresight allow them to harness the opportunities that change brings, ensuring they remain ahead of the curve.

Don’t Just Observe. Act! Tips to Become a Strategic Navigator

As the world continues its relentless pace of change, the challenge is not just to observe but to act. It’s imperative to be nimble, informed, and ready to adapt, ensuring we’re not merely spectators but key players in the ever-evolving tapestry of progress.

  • Tip 1: You’re already doing it — actively reading and learning and always keeping change top of mind. To become a strategic navigator, you need to know the waves we’re currently in. For example, we are in a Bitcoin bear market at the time of writing and Tesla has just lost a lot of market capitalization. Two example waves you could ride if you agreed with these opportunities.
  • Tip 2: Act! If you’ve identified a trend you could benefit from, act! Implement your investment strategy today. Create the brokerage account and buy the damn thing instead of always being stuck in figure, figure, figure.
  • Tip 3: Be bold! You can wait for the disruptor to take everything you’ve got. Or you go with the change and become the disruptor. For example, you could leave your job in an industry that’s obviously being disrupted — such as gasoline-based car manufacturer — to start working for a company that’s on the right side of change. Alternatively, you could hedge your bets by investing in the company disrupting your industry.

🧑‍💻 Do It Now! Feel free to chat with FinxterGPT (see bottom left) to determine ways to benefit from change. Copy and paste the previous tips to give context for your personal situation!

The post Three Groups: Only One Is On The Right Side of Change appeared first on Be on the Right Side of Change.

October 24, 2023 at 07:51PM
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