I thought wine was supposed to get more valuable with age.
Everything in my cellar is losing value fast.
Even as the bottles improve with age and each vintage gets more scarce, they lose value.
Bitcoin is eating my lunch.
Just in the last month, my wine is down 26% and I don't see this stopping any time soon.
Once I understood this dynamic, that my wine is going to be devalued in bitcoin terms forever, I had two choices:
1) Reinvest back into my business to grow faster than bitcoin.
2) Sell wine for bitcoin and let that grow for me
In some ways I'm lucky that scaling up a winery is so hard. I age red wine for 2 years before I sell it and there's no real way to speed that process up. How could I possibly justify an attempt to outgrow bitcoin? My choice was easy.
For CPG businesses that cycle inventory faster, the decision isn’t as clear.
How do you make the case for bitcoin to someone beating its historical CAGR by reinvesting into their business? They're killing it, but long term, do they really expect to outpace bitcoin?
The pressure to scale constantly disappeared when I realized I didn’t have to grow just to survive. Just putting some of your sales in bitcoin lets it do a lot of the growing for you.
Growth is a fine goal, but chasing it just to stay afloat wears entrepreneurs down. They trade sleep, family-time, and sanity in the hopes that they can keep up.
Bitcoin can carry the growth pressure so you don't have to. Build the business you actually want, and let bitcoin carry the rest.
Just in the last month, my wine is down 26% and I don't see this stopping any time soon.
Once I understood this dynamic, that my wine is going to be devalued in bitcoin terms forever, I had two choices:
1) Reinvest back into my business to grow faster than bitcoin.
2) Sell wine for bitcoin and let that grow for me
In some ways I'm lucky that scaling up a winery is so hard. I age red wine for 2 years before I sell it and there's no real way to speed that process up. How could I possibly justify an attempt to outgrow bitcoin? My choice was easy.
For CPG businesses that cycle inventory faster, the decision isn’t as clear.
How do you make the case for bitcoin to someone beating its historical CAGR by reinvesting into their business? They're killing it, but long term, do they really expect to outpace bitcoin?
The pressure to scale constantly disappeared when I realized I didn’t have to grow just to survive. Just putting some of your sales in bitcoin lets it do a lot of the growing for you.
Growth is a fine goal, but chasing it just to stay afloat wears entrepreneurs down. They trade sleep, family-time, and sanity in the hopes that they can keep up.
Bitcoin can carry the growth pressure so you don't have to. Build the business you actually want, and let bitcoin carry the rest.
