Dear kids,

Warren Buffet said that 'Only when the tide goes out that do you discover who's been swimming naked.'

The tide going out is a "truth event" - it exposes the truth of what's really happening underneath the surface.

Some examples of a truth event:

• When Russia invades Ukraine, sending energy prices soaring. Suddenly, all resistance to nuclear plants vanishes, from Japan to Germany to California.

• When inflation strikes, sending interest rates. Suddenly, everyone investing in crypto and meme stocks look like idiots.

• When a recession happens, causing tech companies to start canceling perks and increasing layoffs. Suddenly, overpaid employees actually have to work.

Truth events are a good thing. They keep society honest. Where truth events don't happen, like in government / utilities / union jobs, delusions fester and minds get weaker.

A ruthlessly truthful environment sharpens the mind and grows you as a person. It's uncomfortable, but it's way better than being surrounded by complacency and excuses.

An example is Israel - where the culture is brutally honest and even confrontational. For a soft American, it's a nice change of pace to try keep up with people operating at a higher clock speed.

Love,
Dad