Wealth-Building Made Simple

Summary notes:
Housing is becoming increasingly expensive for the average person, even in Texas. Land is not the limiting factor when it comes to building communities and cities. Instead, the preference of where people want to live is dictated by the economy.  The digital economy has opened up opportunities for people to work from anywhere, meaning that energy companies and developers are now able to build out in areas that are not currently populated. Bitcoin miners provide an opportunity for energy companies and developers to collaborate, as the miners are willing to make the upfront investment for energy and the energy companies can provide lower energy costs. This opens up the ability for cities to be built in areas with cheaper energy costs and incentives can be provided by local council members to attract developers. 
All of this reimagines the way cities are built, and opens up new opportunities.
 
Timestamps
0:01:17 Exploring the Impact of Bitcoin Mining on Urban Development in Texas 0:05:26 Exploring the Potential of Bitcoin-Friendly Towns
 
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Summary notes:
The way we work  has been changing in a major way for a few decades now.  It started with the displacement of manufacturing jobs being shipped overseas in the early 2000s.  Now, knowledge workers are facing an evolution in their field, which includes the death of the way of doing things and the rise of new ways of doing things with automation and artificial intelligence. 
A knowledge worker is someone who provides services based on their specialized knowledge. The salaries in that sector of the economy is estimated to be around $30 trillion, and is now being reshaped by the introduction of artificial intelligence. 
AI will continue to get smarter, and will soon be able to take on more complex jobs. As AI gets smarter, it is likely to eat up more and more jobs, and in a decade it is difficult to predict just how intelligent it will be. Examples of AI already being used at scale in the present day are social media companies, Teslas, Google, and Apple.
AI could also revolutionize the way small and medium sized businesses operate. Using a law firm as an example that spends $4 million a year on salaries to generate $10 million in revenue. In the future, AI could be used to reduce the cost of salaries to a subscription fee of let’s say $100,000 a year, creating more profit for the business. AI will be able to process data and provide context in a way that no human can, making it a valuable tool for businesses. However, the transition to AI will also mean the loss of many jobs, though new positions will be created to manage the AI systems.What makes a great CEO of a company or  a great coach of a football team, is their ability to focus and bring out human capital.  The same skill set will be needed for maximizing the minds of AI.  Timestamps
0:02:40 Exploring the Knowledge Worker Economy and Its Impact on Artificial Intelligence 0:05:45 AI Replacing the Role of Content Research Assistants 
0:06:58 AI and the Future of Knowledge Work: A Discussion on the Impact of Automation on the Legal Industry 
0:11:47 The Impact of Artificial Intelligence on the Legal Industry
0:13:46 The Impact of Artificial Intelligence on Human Evolution
0:15:45 The Impact of Human Adaptability on Investment Strategies
0:19:50 Investment Strategies for Achieving Financial Security

Summary notes:
Data is becoming a more valuable asset as technology advances and we move more into the digital age, just as oil was an important resource in the industrial age. 
Companies are now utilizing data in order to improve their services and products. By utilizing data, companies can make more accurate decisions, reduce risk, and optimize processes. Additionally, data can be used to gain insights into customer behavior and preferences. 
John D. Rockefeller is a famous figure in the history of the industrial economy due to his efficient and disciplined refining process. He capitalized on the need for oil as an energy source by investing in efficient processes and raising lots of capital to do so. He was also known for cooperating with other refiners and buying them out for generous prices, building a massive oil empire in the process.  Fast forward to the digital age, where artificial intelligence is a key driver of the economy and the companies that mirror John D’s business acumen will have a solid dominant competitive advantage. AI has the potential to replace knowledge workers in many industries, such as consulting, financial planning, healthcare, and law. Companies such as Facebook, Instagram, and TikTok have already made money by gathering data on consumer preferences. Companies that have access to high quality and high quantity of data will be able to sell it to companies that are building AI. Two examples of companies that have already integrated AI into their products are Tesla and Google, who have access to a large amount of data that can improve their products.
Timestamps
0:01:17 John D. Rockefeller and the Industrial Economy: A Reflection on the Power of Efficiency and Cooperation 0:03:46 Exploring the Value of Data in Artificial Intelligence 0:11:23 AI and Data: The New Oil of the Digital Age
 
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Summary notes:
Philip discusses the truth about money. He talks about the top ten misperceptions about money. The foundation of his view on money is that wealth is a symbol of a higher quality of life. Humans have evolved and become more knowledgeable over time, leading to a higher quality of life. Over time, this has allowed mankind to become wealthier and wealthier with no new resources added. 
The increased knowledge leads to new innovations such as the invention of fire, the wheel, banks, the printing press, machines, automobiles, computers, e-commerce, artificial intelligence, and bitcoin, which have all helped to improve the quality of life. 
In a free society, money flows to those who are using new technology and with positive perspectives, as well as to those who are able to apply the knowledge of previous generations to continue to innovate. 
Phillip also touches on his belief that everyone is wealthy because wealth is a feeling that attracts the symbol over time and that we should focus on creating specific goals and desires to evolve our quality of life (wealth).  Money doesn’t have to corrupt people. While some may become corrupt and use money to manipulate others, there are also those who use it to drive the whole society forward.
Money can be used for both good and bad purposes, depending on the perspective taken. It is important to understand that money is not the root of all evil, but rather it is our perspective of where our power comes from. Money should be seen as a symbol of an increase in quality of life, and as we raise our understanding and application of the laws of money we will increase our wealth in time.
Elon Musk and Warren Buffett are two examples of people who have attained immense wealth without viewing money as their source of power. 
Timestamps
0:02:56 The Myths of Wealth: Money as a symbol of an increase in our quality of life
0:07:49 The Power of Money: Exploring the Different Perspectives of Wealth
0:10:20 The Power of Money: Understanding the Relationship Between Money and Stress 
0:14:58 Topic: Relaxing About Money and Allowing it to Flow to You 
0:18:17 Exploring the Relationship Between Money and Greed 
0:20:50 Exploring the Impact of Greed and Jealousy on Wealth
0:25:27 The Impact of Jealousy and Money on Life Goals
0:26:52 The Power of Positive Mindset: How to Attract Money and Enjoy Life
0:31:11 The Power of Momentum: Understanding the Limitations of Money and Wealth
0:34:34 Understanding Why Money is Distributed Unevenly
0:37:00 Applying Ancient Wisdom to Achieve Wealth and Joy 
 
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Summary notes:
Innovation is important to any economy, and one of the most essential component of this is new ideas. Typically, youth bring in these new ideas because they are the least resistant to change and have the most desire to create change. 
The importance of having new ideas and entrepreneurs who can bring them to life is essential in the modern economy. Money is also a necessary factor in the economy, being attracted to new ideas and entrepreneurs. Additionally, organizers or managers are needed to keep everything flowing properly and help the new ideas come into place. Helpers are necessary to ensure that the entire process is successful.
Salespeople of the old days are being replaced by content creators as they are the people who know how to get people's attention in the digital age. Educators must also change their methods and focus more on the parts of our brains that computers can't replace, like creativity, inspiration, and emotional intelligence. There are many new industries coming up in the new economy, such as digital commerce, businesses, and workers, that need to be supported.
 All of these components are essential for a successful economy and will continue to be important in the future.
Timestamps
0:01:59 Topic: Exploring the Cooperative Components of Economies Throughout History +0:10:13 Heading: The Changing Economy: Exploring the Roles of Helpers, Evangelists, and Educators in the New Economy 0:17:22 Exploring the Need for Digital Wallets, Blockchain Technology, and Healers in the New Economy 
0:18:52 "Exploring the Opportunities for New Healers in the Age of Technology" 0:21:29 "Embracing Change in the New Economy
 
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Podcasters: Robert L. Lewis, Jr. and Phillip Washington, Jr. 
SUMMARY 
Philip Washington Jr. and Rob Lewis of Ink Realty discuss the concept of reimagining cities for the digital nomad generation. The conversation begins by touching on the issue of housing affordability and the need for solutions to address the problem. Philip and Rob then discuss how the digital nomad generation is changing the concept of cities, as more people are choosing to work remotely and opting to live in cities on a part-time basis. They talk about the potential for cities to become more flexible and adaptable to the changing lifestyle needs of digital nomads. They also discuss some of the opportunities this could bring.  People in their 30s and 40s who have money and don't need an office to work are looking for ways to own real estate and move around, creating a new kind of nomadic lifestyle. This is what Chip and Joanna did in Waco, Texas, creating an experience and taking advantage of the city's resurgence.
Rob is a realtor who offers real estate buying and selling services.  He is reachable via cell phone at 214-225-3453 and email rob@inkrealtygroup.com. 
 
TIMESTAMPS 
0:00:01   Episode #7: Reimagining Cities for the Digital Nomad Generation with Rob L. Lewis
0:01:01   Heading: Exploring the Gap Between Old and New Real Estate Ideas for Profit
0:03:28   Heading: Exploring the Possibilities of Investing in Real Estate for Digital Nomads
0:07:58   Rob L. Real Estate Investment Consultation with Philip Washington Jr.
 
HIGHLIGHTS 
So you can be a destination type city for digital nomads who want to have different experiences in different cities.
Digital nomads want to own real estate. They're just not attached to a location. 
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This episode is from the go to podcast for Mansfield, Texas residents About Mansfield Podcast with guest host Steve Cosio.  
 
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Podcaster: Phillip Washington, Jr. 
Investing topics discussed:
Artificial intelligence
Digital wallets
Digital commerce
Genomics (gene editing)
Blockchain technology
Bitcoin
NFTs
3D Printing
Space
Energy
Space
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Podcasters: Alison Reiff-Martin, CPA and Phillip Washington, Jr. 
 
These are themes business operators will have to navigate over the next decade.  Alison and Phillip discuss positive perspectives around growing your business through this time period.  
 
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Podcaster: Phillip Washington, Jr. 
 
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Podcasters: Robert L. Lewis, Jr. and Phillip Washington, Jr.
 
Rob and Phil discuss the record amount of real estate equity Americans are sitting on, why it's likely to increase over time, and ideas around how to use that equity to potentially increase wealth.
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Podcaster: Phillip Washington, Jr.
 
Topics:
ChatGPT
White collar jobs that will be replaced
How humans will evolve as we always have
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Podcaster: Phillip Washington, Jr. 
In this episode, Phillip discusses:
How to calculate how much money you need to become financially independent
3 income sources for achieving financial independence 
The benefits of short term financial goals along the way
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Podcaster: Alison Reiff-Martin, CPA and Phillip Washington, Jr. 
 
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Podcaster: Phillip Washington, Jr. 
 
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Podcasters: Robert L. Lewis, Jr. and Phillip Washington, Jr. 
 
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Podcaster: Phillip Washington, Jr.
 
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Podcaster: Phillip Washington, Jr. 
Thought we posted this episode last week, but we accidentally posted one episode twice!
 
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Podcaster: Phillip Washington, Jr. 
 
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Podcasters: Alison Reiff-Martin, CPA and Phillip Washington, Jr. 
 
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Podcasters: Robert L. Lewis, Jr. and Phillip Washington, Jr. 
 
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Podcaster: Phillip Washington, Jr. 
 
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Podcaster: Phillip Washington, Jr.
 
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Podcasters: Alison Reiff-Martin, CPA and Phillip Washington, Jr. 
 
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Podcaster: Phillip Washington, Jr. 
 
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Podcaster: Phillip Washington, Jr. 
 
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Podcaster: Phillip Washington, Jr. 
 
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Podcaster: Phillip Washington, Jr. 
 
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Podcasters: Steve Cosio and Phillip Washington, Jr. 
 
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Podcasters: Terrie Chantel and Phillip Washington, Jr. 
 
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Podcasters: Robert L. Lewis, Jr. and Phillip Washington, Jr. 
 
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Podcaster: Phillip Washington, Jr. 
 
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Podcaster: Phillip Washington, Jr. 
 
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Podcasters: Alison Reiff-Martin, CPA and Phillip Washington, Jr. 
 
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Podcasters: Terrie Chantel and Phillip Washington, Jr. 
 
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Podcasters: Robert L. Lewis, Jr. and Phillip Washington, Jr. 
 
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Podcaster: Phillip Washington, Jr. 
 
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Podcaster: Phillip Washington, Jr. 
 
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Podcasters: Alison Reiff-Martin, CPA and Phillip Washington, Jr. 
 
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Podcasters: Terrie Chantel and Phillip Washington, Jr. 
 
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Podcasters: Matt Houston and Phillip Washington, Jr. 
 
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Podcasters: Robert L. Lewis, Jr. and Phillip Washington, Jr. 
 
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Podcaster: Phillip Washington, Jr. 
 
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Podcasters: Phillip Washington, Jr. and Trey Sellers from Unchained Capital
unchained.com
 
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Podcaster: Phillip Washington, Jr. 
 
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Podcasters: Alison Reiff-Martin, CPA and Phillip Washington, Jr. 
 
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Podcasters: Terrie Chantel and Phillip Washington, Jr. 
 
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Podcasters: Robert L. Lewis, Jr. and Phillip Washington, Jr. 
 
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Podcaster: Phillip Washington, Jr. 
 
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Podcaster: Phillip Washington, Jr. 
 
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