I was bitten by the tech bug…
In 1999, growth was happening on the Internet. And I didn’t want to merely invest in these tech companies that I knew were going to change the world… I wanted to be a part of them.
So, I started pursuing a new career path.
That’s how I soon ended up working at a struggling advertising company.
This company was low-tech and old school. It delivered ads to homes that didn’t subscribe to a daily newspaper. It gave businesses a way to reach people that they couldn’t reach through the normal channels.
I was brought in because the CEO knew they needed to modernize. But he just didn’t know how to “reset” his struggling company.
Back then, I learned a lesson that I’ve carried with me for nearly 20 years. And today – right now – I’m seeing it all play out once again, with one of the biggest macro trends I’ve ever witnessed.
Let me explain…
In the early 2000s, the Internet was eating up the old ways of advertising. Younger, tech-savvy readers canceled their newspaper subscriptions and started getting their news online… for free. And advertisers fled print in droves.
For three years, I fought an uphill battle… I “reset” everything I could. I found inefficiencies and used technology to eliminate them. I worked with developers to streamline our processes and gave customers ways to place orders online.
I went to bat against corporate behemoths like Walmart… and won, getting more revenue at higher profit margins. I developed new products designed to appeal to younger customers.
But I simply couldn’t change the macro picture… Customer attention was shifting online.
People quite literally picked up our ads and carried them to the trash can. Sometimes, they didn’t even bother doing that. I remember driving by houses and seeing weeks’ worth of our ads on the doorsteps, turning white in the sun.
In the end, the company I worked for pivoted out of advertising altogether. And I learned one of the greatest lessons of my career…
You never, ever fight the macro trend.
Fighting this fight dooms businesses, traders, and entrepreneurs into obsolescence. Worse, fighting the macro trend comes with an opportunity cost… You could be riding the waves, not swimming against them.
You could make 10 times, 20 times, 100 times your money… and not get stuck fighting over an extra 1% on your margins.
In my case, I could have avoided three years of fighting an unwinnable battle. But again, it was a valuable lesson. And it taught me to recognize a tidal-wave opportunity when I saw one.
Today, I’m looking at one of the biggest macro trends I’ve ever seen unfold before my very eyes… And I’m not alone.
I’m talking about bitcoin and cryptocurrencies.
I’ve spent the last eight years getting to know everything I can about this “final frontier,” and relaying all the best information and analysis I can to readers. In short, I’ve long believed that bitcoin and cryptocurrencies will be the “reset” that our financial system needs to survive today.
And as the Federal Reserve and other central banks just keep printing more and more money, a lot of other people are starting to understand the power and use for cryptos, too.
At the start of this year, bitcoin surged above $40,000. And despite taking a breather recently, it’s still up roughly 275% over the past year.
What tech giants like Google and Facebook did to my little advertising company is what bitcoin and cryptocurrencies are doing to banks…
They’re decimating them. They’re gutting them from the inside out. Some banks see the writing on the wall, and they’re working hard to embrace this new technology.
Others have their heads so deep in the sand that they’re going to go bankrupt. I can almost guarantee it.
That’s because banking is changing, whether banks like it or not…
Here’s just one example of how screwed up the banking industry is. A decade ago, the U.S. government passed a controversial new piece of legislation targeting the banking system. It was called the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The Dodd-Frank act weighs in at more than 2,300 pages. Simply reading it would take the average American more than 40 hours.
These regulations are supposed to help Americans. Instead, all the red tape kills innovation by making it impossible for new companies to enter the banking space. So now we have enormous, slow-moving, too-big-to-fail banks.
That’s part of the reason why then-President Donald Trump signed a law three years ago that rolled back huge chunks of these regulations.
But the Dodd-Frank Act is just a piece of the puzzle. Banking today is weighed down by so many regulations that it has banks slipping into irrelevance.
It’s like the entire sector didn’t notice the rise of the Internet…
Think about it… I can send an e-mail from Los Angeles to Tokyo any time of the day for free. But sending money around the world can take as long as five days and costs me $50 or more in fees. Why is that?
For that matter, why does the stock market shut down on nights and weekends? I can tell you one big reason… Because banks have to comply with so many regulations.
But what if we could automate those transactions entirely?
That’s where cryptocurrencies come in.
The new macro trend is here… Don’t fight it.
— Eric WadeGrocery store billionaire predicts Oct. surprise [sponsor]
Billionaire who made his fortune with groceries and real estate says a big shift in U.S. economy and financial system will reveal itself this October.
Source: Daily Wealth