Tweets

@Podverse Oh no! Hope you make it.

@dohertyjf Hey! 🙌

Next time, I’ll stay for awhile and come for a visit. 😄

A bunch of jumps to get to #PM22 in Dallas:

🇨🇦 YLW 🛫 YVR
🇨🇦🇺🇸 YVR 🛫 DEN

Soon (hopefully 🤞):

🇺🇸 DEN 🛫 DFW

@mignano @PodlandNews @JamesCridland @adamcurry @samsethi @m_downey @Podverse I’m still not clear why the standard itself needs to innovate at a rapid pace if all the stuff being built on top of the standard (private and open source) is innovating.

I’d argue you need a reliable standard in order to innovate.

@mignano @PodlandNews @JamesCridland @adamcurry @samsethi @m_downey @Podverse The HTTP standard has continued to evolve since its 1.0 introduction in 1992.

HTTP/3 was just published in 2022! That feels like pretty recent innovation.

The protocol itself can stay boring as long as it continues to create the environment where other innovation can emerge.

@mignano @PodlandNews @JamesCridland @adamcurry @samsethi @m_downey @Podverse HTTP is so much more than web browsers though!

Most apps these days use http as the protocol for their API (this drives a ton of innovation).

Feels like you’re artificially narrowing the scope of how most open standards work.

(TCP/IP has also driven a ton of innovation)

@PodlandNews @JamesCridland @mignano @adamcurry @samsethi @m_downey @Podverse Finally got a chance to listen to the @mignano interview today.

Michael: you said that "at scale, all products that adopt standards will eventually look roughly the same."

Is this really true?

It seems there's been a ton of product innovation on top of a standard like HTTP...

@Maxrocket_ @Penn Being the founder of a successful indie SaaS was the best option available to me for maximizing:

1. Freedom
2. Autonomy
3. Purpose
4. Earnings

@zencastr @bheater @TechCrunch Congrats on the launch! 🎉

@JoelKlettke Terrifying

@jhooks Hahaha. That driveway looks like a lot of strongly-worded letters in your mailbox. 📬😅

@sarangrewal @PodcastMovement Usually this airport is amazing (small, easy to navigate, chill).

But it’s way more busy today.

@theleviallen That’s the thing about “one bag travel.”

It’s a good way to go, but you gotta fight for those overhead bins!

cc @chasewreeves

@arithisandthat @JordanPods Is it REALY a podcast if it’s only on Spotify with no RSS feed? 😅🤭

/s

When you fly out of Kelowna, it’s almost always on a puddle jumper.

🛫

@ChaseGiunta @PodcastMovement Uh oh. All I brought was short shorts and tank tops. 😆

@ClaytonRowney @PodcastMovement Yeah. It’s wild. I’ve never seen it this busy.

Headed to @PodcastMovement today!

With any luck, I’ll arrive in Dallas at 1am. 😅 #pm22

(It’s a long travel day from Kelowna, BC 🇨🇦)

@asmartbear Folks often look at pairing back subscriptions in a recession (or look to save money on subscriptions).

Raising prices now could increase churn.

Most SaaS would rather have the LTV than short-term bump in revenue I think.

@webby2001 Looks awesome. Are there free prizes underneath all those seats? 😄

@stephenrobles @PodcastMovement I always just bring my ATR2100. 😄

@brechtify Congrats on the exit! 🥳

Awesome achievement for you and your family. 🙌

@sol_orwell @Examinecom That’s definitely worth celebrating 🥳

@mjwhansen Hahaha. This is great!

@NathanG Oh dang! Was hoping to see you again.

Get well soon! 🙏

@marcelpociot @tdinh_me 🤣

@ianlandsman Yes! That’s your “Startup Advice with Uncle Ian” booth. 😄

@dqhieu @XnapperHQ Love the app! I’ve been using it every day. ❤️👏

@nbashaw Curious: what are you (or your editor) using to edit the podcast?

@nbashaw Agreed. 👍

I was really hoping to write my treatise on RSS and podcasting (vs proprietary platforms) before I leave for @PodcastMovement.

Despite the recent memes around RSS (😄 @Podnews) there’s still an important discussion to be had around open protocols, and how they benefit creators.

@nbashaw It depends on company size.

Indie/bootstrapped businesses: "They"
↪️ "I like @usefathom; they're good guys."

Megacorps: "It"
↪️ "Apple thinks it can gloss over privacy issues."

@SteveSaretsky So you don't think housing will follow the same trend we're seeing in other sectors?

https://twitter.com/tylertringas/status/1559943002495352832

@randombytes2 @intilektual Research on comparing happiness across countries has also been done.

https://twitter.com/mijustin/status/1561068759854354432

@randombytes2 @intilektual Empirically, yes: increases in income ("money that a person receives in exchange for their labor or products") correlate to increased happiness.

Anecdotally (for you) it seems this isn't the case.

(although a longitudinal study [next 10-20 years] on you might prove different)

@JoelKlettke @levelsio 🎯 Exactly.

@andresgutgon @levelsio Sorry. Had to edit for clarity:

https://mobile.twitter.com/mijustin/status/1561065298811203584

@JacobBennett @michaeldyrynda ARE YOU KIDDING ME?

More like "Too hot to handle." 🔥🔥🔥

@michaelkoper @randombytes2 @intilektual A study by "economists Betsey Stevenson and Justin Wolfers comparing happiness across countries, across several different surveys, has found that there's no satiation point."

https://www.vox.com/2015/6/20/8815813/orange-is-the-new-black-piper-chapman-happiness-study

@levelsio I think we should question:

- how would we truly assess "most famous & most achieved"
- whether "most famous & most achieved" is the best representation for most entrepreneurs
- whether opinions on Musk are correlated to a country's respect for entrepreneurship

@levelsio Why, in your mind, would “admiration for Elon Musk” = appreciation for entrepreneurship?

I’m confused why we would choose him as our universal muse for "entrepreneur."

Seems odd to make "admiration for Elon" our entrepreneurial litmus test.

@SteveSaretsky Curious what your take is on this: https://twitter.com/tylertringas/status/1559942334212718594

@randombytes2 @intilektual My tweet is specifically for employed (or self-employed) people who earn an annual income.

I can’t speak to those who are retired, not working, etc.

@calmfund @tylertringas @tryfirstbase I would love a “First Base for Canada” 🙏

@markjaquith @Penn Well, just look at my replies. Lots of people arguing with me about this one! 😅

@tannerhelps Yes. And the most recent @penn research is even more telling. https://twitter.com/mijustin/status/1561033467701239810

@randombytes2 @intilektual You can find the sampling method in the paper:

I’m specifically speaking to annual income.

I agree that large windfalls (lottery, inheritance, selling a startup) may not produce the same effect.

RT @mijustin: @randombytes2 @intilektual Most people aren’t millionaires.

The median income in Canada and USA ~65k.

Research shows that p…

@randombytes2 @intilektual Most people aren’t millionaires.

The median income in Canada and USA ~65k.

Research shows that positive feelings increase for every jump in income (tested all the way past 450k per year).

https://twitter.com/mijustin/status/1561033467701239810

@CryptoDonkey411 @SahilBloom Looking at the research again, I'm not sure the "diminishing returns" theory holds true:

https://twitter.com/mijustin/status/1561033467701239810

Lots of folks believe that there's a "peak happiness/income inflection point."

But @penn research found:

"Larger incomes were associated with significantly higher levels of all positive feelings and significantly lower levels of all negative feelings."

https://www.pnas.org/doi/full/10.1073/pnas.2016976118

@anasfrh But @penn research has found that "larger incomes were associated with significantly higher levels of all positive feelings and significantly lower levels of all negative feelings."

https://www.pnas.org/doi/full/10.1073/pnas.2016976118

@ScottTruhlar @Colinismblog If you're talking about marginal utility, "utility is the satisfaction or benefit derived by consuming a product."

It was originally formulated around consumption, not holding wealth (or earning income).

https://en.wikipedia.org/wiki/Marginal_utility

@ScottTruhlar @chuck_daniels_ Look at @penn's more recent study:

"Results showed that larger incomes were associated with significantly higher levels of all positive feelings and significantly lower levels of all negative feelings."

https://www.pnas.org/doi/full/10.1073/pnas.2016976118

@ScottTruhlar @tidbit_giant Subsequent research from @penn contradicts what you're saying here.

They found that: "Larger incomes were robustly associated with both greater experienced well-being and greater evaluative well-being."

https://www.pnas.org/doi/full/10.1073/pnas.2016976118

@ScottTruhlar @Colinismblog Doesn't the theory of marginal utility have more to do with "risk aversion" than "the level of income one might live at comfortably?"

https://escholarship.org/uc/item/61d7b4pg

@ScottTruhlar @JimminyJilickrz Except I lived for decades not valuing money (grew up on a commune, did social work for 10 years, etc).

This isn’t about materialism or the hedonic treadmill: it’s about having the resources to take care of yourself and the people you love.

@JacobBennett catching up on the news: YOU SHAVED YOUR MUSTACHE?

@michaeldyrynda YOU’VE NEVER HAD ROOT BEER?

https://overcast.fm/+GwHUrZMMo

You shouldn’t pursue money at the expense of everything else, but you should still pursue it!

Similar to other types of health (emotional, physical, social) if you ignore your financial health it will suffer.

The meaningful insight for me is that financial wealth creates the space you need to build social, physical, mental, and time wealth. 💪

(ht @SahilBloom)

@Shpigford 🎯 Right now, I’m still seeing a lot of demand of web devs who know @tailwindcss.

https://jobs.tailwindcss.com/

@adamwathan @jackmcdade @sisyphos2dot0 @tailwindui @TransistorFM @steveschoger @tailwindcss Honestly, $STTMC is a steal at that price.

@JohannBeukes Yup. The trope is overly simplistic in a variety of ways:

$75k in 2010 ≠ $75k in 2022
$75k NYC ≠ $75k in Boise, ID
$75k for family of 1 ≠ $75k family of 4

@markstansbury Yup. The trope is overly simplistic in a variety of ways:

$75k in 2010 ≠ $75k in 2022
$75k NYC ≠ $75k in Boise, ID
$75k for family of 1 ≠ $75k family of 4

@MrSimonBennett Generally:

Handbook: https://github.com/TransistorFM/handbook

Internal docs: Google Docs

Project stuff: @useShortcut

Chat: Slack

@drewclemcr8 💯 Same for me:

https://twitter.com/mijustin/status/1560696789971283968

This easter egg on the new @tailwindui "Stocks" template made my day:

📈 "Aww yeah. @TransistorFM is up 6.25% baby!"

Kudos to the @adamwathan, @steveschoger, and the whole @tailwindcss team on this new design. Looks amazing:

https://pocket.tailwindui.com/

@zendaimyo It's from a 2010, oft-misrepresented study.

https://twitter.com/mijustin/status/1560696771633823749

@iChris Likely Tom Petty at the Coliseum in Edmonton, 2014.

@danshipper @nbashaw Hahaha.

We jest, but it's true.

I was only really able to take care of my mental health (depression, anxiety, etc) once I had financial margin in my life.

Otherwise, "survival mode" always trumped my health.

@nbashaw Yup. It's overly simplistic on a number of levels:

$75k in 2010 ≠ $75k in 2022
$75k NYC ≠ $75k in Boise, ID
$75k for family of 1 ≠ $75k family of 4

"$75k" also doesn't tell us how much autonomy, purpose, margin, and calm you have in your life.

@p_millerd Yes. There are definitely other variables here.

I believe that "earning more + autonomy + purpose" is the winning combination.

https://twitter.com/mijustin/status/1334278732450680834

@AlwaysAndrewH Yup. Exactly. The subsequent @Nature study does a better job of explaining the nuance:

https://www.nature.com/articles/s41562-017-0277-0.epdf

Yup. Often the "peak happiness is $75k/year" trope is used as a cudgel by people with more wealth who've never had to worry about paying their bills:

https://twitter.com/taxigy/status/1560726272891830277

@thejustinwelsh That's good.

I've always said the most significant levers are:

https://twitter.com/mijustin/status/1551267956230762496

@AndrewWHacks 🎯 Exactly this.

For most people "more money = more space and opportunity to have the life they want."

@arvidkahl Congrats! 🎉

@BondParkerBond Yes, the trope is overly simplistic on a variety of fronts:

$75k in 2010 ≠ $75k in 2022
$75k NYC ≠ $75k in Boise, ID
$75k for family of 1 ≠ $75k family of 4

@chuck_daniels_ Other research hasn't found this to be true: https://www.vox.com/2015/6/20/8815813/orange-is-the-new-black-piper-chapman-happiness-study

Also, the original 2010 study found that "high income *does* buy life satisfaction."
https://www.vice.com/en/article/mbwa48/money-happiness-truth

@PrestwichMckay Yup. Exactly. The trope is overly simplistic on a variety of fronts:

$75k in 2010 ≠ $75k in 2022
$75k NYC ≠ $75k in Boise, ID
$75k for family of 1 ≠ $75k family of 4

@thecaseygould Exactly this!

I was only really able to take care of my mental health (depression, anxiety, etc) once I had financial margin in my life.

Otherwise, surviving always trumped my health.

@KostjaPalovic Yup. Reminds me of the calm & peace I felt when @csallen asked me how it felt to go full-time with Transistor:

https://share.transistor.fm/s/7e7020f7

@shawnfrompdx Exactly. The trope is silly on a number of fronts:

$75k in 2010 ≠ $75k in 2022
$75k NYC ≠ $75k in Boise, ID
$75k for family of 1 ≠ $75k family of 4

@SahilBloom Oh nice. Definitely ping me when that's out!

👀

@arvidkahl Yes!

Meeting interesting people in high-leverage fields is especially potent.

@chrisfosterelli In my original draft, I qualified this by saying "for most people."

In Canada, only the top 10% earn more than $250k /year.

For the vast majority, earning a median of $62,900, doubling their salary would provide a dramatic increase in life satisfaction.

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1110005501

Exactly.

The trope is one-dimensional and silly from a variety of perspectives:

$75k in 2010 ≠ $75k in 2022
$75k NYC ≠ $75k in Boise, ID
$75k for family of 1 ≠ $75k family of 4

https://twitter.com/cgimmer/status/1560700713315057673

@SahilBloom Yes! I enjoyed your podcast (https://www.sahilbloom.com/newsletter/lies-youve-been-told-about-the-world) on that.

The meaningful insight for me is that financial wealth helps create the space you need for social, physical, mental, and time wealth. 💪

@KostjaPalovic YES! Same here. It's incredibly freeing.

@AndyGCook 🎯 I dig that.

@AndyGCook Exactly.

That's why this calculator from @EconomicPolicy is so useful:

https://www.epi.org/resources/budget/

@jackmcdade Love these two.

Meeting interesting people in high-leverage fields is especially potent.

Curious: what do you think is the highest leverage activity people can do to increase their income?

The latest surveys show that "56% of Americans couldn’t cover a $1,000 emergency expense with savings."

Most people are in survival mode.

People don’t want to merely survive, they want to thrive.

The only way to do that is to have an income that creates space for thriving.

In my family, we've had household incomes of:

$35,000
$60,000
$80,000
$120,000
$250,000+

Every time our income has increased, we've had a greater sense of well-being.

The truth is, many people are working really hard just to survive.

Here's an example for Hartford, CT:

💰 Median household income: $75,381 (US median is $65,712)
💸 But just to attain an "adequate standard of living" a family of 4 would need to earn $94,849 (ht @EconomicPolicy)

Money creates the space for you to pursue the things that can make you happy.

Early in my career, I applied for a job that paid $60k.

During the interview, they asked me about my long-term goals.

With 4 kids to feed, I said “I’d like to earn $100k.” The owner (a multimillionaire) scoffed: "That won't improve your happiness."

<Narrator: Actually, it did>

I spoke with someone who received a surprise $15,000 bonus. He used it to pay off his student loans. All of his stress and anxiety instantly melted away.

Now, instead of spending his energy worrying, he can dedicate his time to enjoying life.

The oft-quoted "happiness peaks at $75k" trope is

a) "based on a cursory, wrongheaded reading of the 2010 study" https://www.vox.com/2015/6/20/8815813/orange-is-the-new-black-piper-chapman-happiness-study

b) not supported by more recent @penn research that shows "well-being rises with income, even above $75,000 per year" https://www.pnas.org/doi/full/10.1073/pnas.2016976118