Quit Before The World Stops Spinning

The Paul Truesdell Podcast

#Sneakers #Tesla #Russia #AnnieDuke #Quit #Vanguard #Truist #CustomerService #Watercooler #WorkFromHome #DataManagement #Hacking #IDTheft #TaxSeason #CharteredAccountants #CPAs #TheTsarTank
Hey....we could hash tag the dog out of this, but that's enough for today. Enjoy!

Annie Duke's Books - Recommended by Paul Grant Truesdell, Sr.
Thinking in Bets,
The Middle Zone
How to Decide: Simple Tools for Making Better Choices
Quit: The Power of Knowing When to Walk Away

Sponsor: Truesdell Wealth, Inc. - Registered Investment Advisor
Disclaimer: Due to our extensive holdings and our clients, you should assume that we have a position in all companies discussed and that a conflict of interest exists. The information presented is provided for informational purposes only. Truesdell Wealth, Incorporated, is a Registered Investment Advisor.

SUMMARY

Paul Grant Truesdell, J.D., AIF and Paul Truesdell, II discussed various topics, including the significance of recognizing when to quit in business and personal life, the prevalence of corruption in Russian and Chinese military organizations, the challenges of transitioning to remote work during the COVID-19 pandemic, and the importance of balancing what can be counted with what counts in the context of innovation and technology. They shared their personal experiences and observations, highlighting the need for adaptation in the face of continuous challenges.

Outline

Quitting and the importance of knowing when to stop.

• Truesdell discusses quitting and the importance of moving on.

• Annie Duke's book "Quit" explores the importance of knowing when to quit, with insights from her experience as a poker champion.

Corruption within the Russian military.

• Truesdell criticizes Russian military incompetence and corruption.

• Wagner soldiers report drug use within their ranks, leading to investigation and potential execution of those who exposed the issue.

• Paul Truesdell, II: Corruption in military industrial complex happens after service, with ex-military personnel profiting from connections and information.

• Paul Grant Truesdell, J.D., AIF: Corruption in military industrial complex is complex, with both pros and cons, and can be seen as design by committee or actual experience on the ground.

Corruption, military capabilities, and tank technology in Venezuela and Russia.

• Paul Truesdell, II: Venezuela's corruption is systemic, unable to invade neighboring countries.

• Paul Grant Truesdell, J.D., AIF: Potemkin villages and parades, fake military strength in Venezuela and other countries.

• Truesdell and Truesdell discuss the history and development of tanks, including the Tsar Tank, with a focus on Russia's involvement.

• Truesdell discusses how organizations managed remote work during COVID-19 pandemic.

Customer support in the financial services industry, including challenges and solutions.

• Paul Truesdell, II discusses the challenges of securing access to information within a company with multiple offices and employees.

• Paul Grant Truesdell, J.D., AIF recalls a past experience with hiring CPAs in India for tax services due to the internet's ability to transfer data globally.

• Identity theft is a major concern during tax season, particularly for accounting firms.

• Paul Truesdell, II explains how customer support teams have evolved, with a focus on technical expertise and specialized knowledge.

• Paul Grant Truesdell, J.D., AIF discusses the challenges of providing effective customer support in the financial services industry, including siloed responses and security risks.

Customer support platforms and their challenges.

• Paul Truesdell recounts a trip to Yellowstone National Park where he and his family encountered friendly service at a McDonald's, despite being from out of state.

• Paul Truesdell II shares his experience at the US-Mexico border, where he saw supplies for coyotes and observed that the border situation has been a "joke" for a long time.

• Paul Truesdell, II shares his experience with Vanguard's customer support, mentioning the challenges of escalating issues to managers.

• Paul Grant Truesdell, J.D., AIF describes the standby hell he's encountered with Vanguard's customer support, where he's been put on hold indefinitely.

Challenges with remote work and loss of institutional knowledge.

• Paul Truesdell, II describes the difficulty of contacting higher-level managers for technical support due to layers of access control and lack of institutional knowledge.

• Paul Truesdell, II and Paul Grant Truesdell, J.D., AIF discuss the shift from face-to-face communication to text-based support, leading to misunderstandings and delays in resolving issues.

• Paul Truesdell and Paul Grant Truesdell discuss the impact of remote work on office culture and productivity.

• They mention the loss of informal interactions and the potential for increased workload despite shorter work hours.

• Paul Truesdell, II: Companies prioritize in-person work due to communication issues in remote work.

• Lack of communication leads to turnover in organizations, especially when reaching critical mass.

Investment strategies, technology innovation, and cybersecurity threats.

• Paul Truesdell, II, shares insights on Apple's daily flights between California and China, highlighting the importance of continually bridging the gap between what can be counted and what counts.

• Paul Truesdell, II, and Paul Grant Truesdell, J.D., AIF, discuss the potential benefits of electric military vehicles, while also acknowledging the challenges and limitations of such technology.

• Paul Truesdell, II criticizes the idea of securitizing mortgages as "diversifying a bunch of crap."

• Paul Grant Truesdell, J.D., AIF emphasizes the importance of understanding the power of energy in various forms.

• Paul Truesdell, II discusses the issue of regulators and ratings companies allowing companies to offload "crap" debt obligations, leading to a lack of scrutiny and potential for fraud.

• Paul Grant Truesdell, J.D., AIF mentions the movie "Sneakers" and its themes of hackers, corporate espionage, and government espionage, highlighting the importance of data security and privacy.

Data collection, privacy, and intelligence.

• Paul Truesdell, II discusses the movie "Sneakers" and its relevance to the crypto wars, a time when Congress tried to regulate backdoors into cryptography.

• The transcript highlights the impact of movies like "Sneakers" in raising awareness about the dangers of backdoors in technology and the importance of codebreaking and other security measures.

• Paul Truesdell, II discusses the importance of data in criminal investigations, highlighting how the absence of data can be just as informative as its existence.

• He shares examples of how data collection has helped solve crimes, including a case where a suspect's phone being off during a homicide led to their conviction.

• Paul Truesdell and Paul Grant Truesdell discuss Annie Duke's PhD in cognitive psychology and her approach to decision-making.

TRANSCRIPT

Paul Grant Truesdell, J.D., AIF 0:00
I have made a decision ...