Hey, I'm Rohan! Thanks for reading. Thursday Thoughts is a weekly newsletter where I share one thought and then recommend 4 other random finds from across the internet. Not yet subscribed? Do so here:

In this week's issue you will find:

• On Marginalia

• Bitcoin Going Mainstream

• The 7-11-4 Strategy

• Limitless

• a quote from Wendell Phillips

On Marginalia

I used to be a purist. A few years ago I would shudder at the thought of marking up my books. I strived to keep all the books I read (which honestly wasn't that many) in the most pristine condition I could, calling people who folded pages, highlighted passages, or write in pencil or god-forbid pen on the margins of the pages heathens.

However, simply reading these books with no real purpose and without taking any notes was not productive in the slightest. The information went in one ear and then out the other with no way of remembering important facts.

Then I came across this video about Bill Gates about how he remembers what he reads.

When one of the smartest people in the world advocates something, then you know that it has its merits.

Gates is one of the many proponents of marginalia - making notes and comments in the margins of the book that you are getting through. As I started researching more about this process of marginalia, I discovered its rich history. Many famous writers and thinkers have used marginalia as a tool to enhance their reading experience from people like Gates to Issac Newton, to Sylvia Plath, to Mark Twain. There are many photos in particular of Mark Twain's hilarious marginalia in which he sometimes takes the writers he's reading to the cleaners. This being a particular favorite of mine:

Marginalia for me is a way to stay engaged when I'm reading. Sometimes I have the tendency to get distracted, I find myself reading the words but not actually comprehending them - usually if I have something else on my mind.

The days of me babysitting my books are over. Now highlighters, pencils, and pens alike are welcome in my reading. I use highlighting and underlining things so that they are more prominent and can be easily accessed on further readings and to help me craft book notes for easy access to the pertinent information.

Sure, sometimes taking these notes can feel like work and I hardly every note take if I'm reading fiction for enjoyment. Reading with a pencil in my hand however has absolutely changed the way I read for the better and the key is to find a balance between productivity and leisure.

I've found that certain books are so well written that it lends itself to marginalia. The best-written books make it really easy:

Bitcoin Goes Mainstream

Indulge me in some crypto talk for a minute to unpack what has happened over the last two weeks and speculate some of the repercussions. This piece was originally written for my campus Consulting Group's newsletter which dissects different industry trends in the business world.

Last Monday, Crypto Twitter broke into a frenzy when Tesla announced they added $1.5 billion in Bitcoin to their balance sheet. The company invested $1.5 billion out of its $19 billion cash on hand (almost 8%) for “more flexibility to further diversify and maximize returns on our cash.” In addition, Tesla also announced that they would start to accept bitcoin as payment for their products - becoming the first major automaker to do so.

Tesla's blockbuster announcement on Monday was just the first domino as other companies stepped up to offer their stamp of approval for Bitcoin:

• MasterCard will let merchants accept payments in crypto this year. A financial behemoth that performed 4 billion transactions in 2019, they represent Bitcoin's most mainstream platform yet.

• The US' oldest bank, BNY Mellon, announced last Thursday it will hold, transfer and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients.

• The rumor mill is churning out the next possible adopters with names like Apple, Twitter, GM, and Uber all being mentioned as likely adopters.

All the announcements last week and continued optimism this week pushed the price of Bitcoin to record highs of more than $52,000. Here are a few trends we can expect as a result of this mainstream adoption:

1. Bitcoin is solidified as a serious investment vehicle. With the approval of multiple key financial players and leading Fortune 500 companies, Bitcoin is no longer just something that your shady cousin wants you to get in on - it's something your shady banking friend wants you to get in on too.

2. Bitcoin will be increasingly accepted as payment: Increased adoption of bitcoin can lead to an increase in price stability. As prices stabilize, bitcoin is expected to be used more widely as a payment option. With companies like Tesla and MasterCard leading the way, other companies are sure to follow.

3. The rise and increased interest in Central Bank Digital Currencies: China is already creating a digital currency and as Bitcoin and cryptocurrency adoption becomes more mainstream, we might see an influx of other Central Banks start to contemplate CBDCs more seriously.

The 7-11-4 Strategy

I came across this strategy from Yath Prem's excellent weekly blogletter (that you should definitely check out and subscribe to here). This 7-11-4 concept comes from the book Oversubscribed by Daniel Priestly that he recently recommended. It basically quantifies the variables that turn a cold contact into a warm one or an acquaintance to a friend. This passage from the book explains what goes behind that change in detail:

This is something that I am going to take into account when building relationships going forward. A one-off meeting isn't enough to create a strong relationship. You need to put in the 7 hours of time across 11 interactions and 4 places (post-pandemic of course) and as Yath reminds us, "with the single goal to add value at each step".

Limitless

If you follow me on Instagram you know that I was extremely excited to start reading The Dark Fields - the book that the cult classic movie Limitless is based on. Limitless is one of my favorite movies as it is with anyone who is obsessed with personal development and productivity. It's a fictional story based on the concept of a drug that allows humans to access 100% of their brains and achieve their full potential. We follow a 30-year-old depressed failure Eddie Spinola/Morra (based on if you read the book or watch the movie) who goes from a struggling writer to assisting $200 billion mergers on Wall Street.

The Dark Fields is a quick read being just 330 pages but this is one of the rare instances that the movie is actually better than the book. The book goes a lot more in-depth into addiction and is more of a gritty, realistic, and dark look at the substance abuse issues that Eddie goes through. The movie was very well adapted and updated to show a lighter, made-for-Hollywood, tilt on the story that Alan Glynn envisioned.

Quote of the Week

That’s all for this week. See you next week!