The PLSX/PLS/HEX 10,000x
Many of us dream/ have this feeling that one or more of these new opportunities within this Ecosystem will change our lives. While 10,000x is the go to number at the moment as the “gold standard” it seems, for many of us it may take 10x, 100x or even 1000x to have our lives completely changed. This effect can be compared to winning the lottery.
In obvious fashion, lottery winners often completely change their lifestyles. They buy fancy things or spend ridiculous amounts of money on experiences they previously were unable to afford. Not all lottery winners splurge and many will help family and friends, pay off debts, upgrade there base lifestyle to a manageable degree, and even donate some of the winnings. let’s look at the statistics though.
We Won!!!! Aaaaaaaand its gone.
About 70 percent of people who suddenly receive a windfall of cash will lose it within a few years, according to the National Endowment for Financial Education.
A small percentage even go bankrupt. So nearly 3/4 people who win the lottery lose it.
Not only do nearly 3 in 4 people who win the lottery lose it all, but many people report depression and tragic events happening due to their massive life changes
How is it that people can get depressed from a 10,000x???
The Hedonic Principal
This is the principal that states after both positive or negative events, people will always return to a baseline of happiness. It shows how all feelings of elation or despair and anything in between due to life events will always settle at the original baseline. Does this explain why lottery winners become depressed? Maybe, but let’s keep going.
The problem with just relying on this principal at face value is that it states that you will always return to a baseline of happiness. But what the principal does not account for is our change in perspective. When something really good happens to us like winning the lottery or getting a 10,000x, we see everything else in life relative to our new level of experience.
What we previously viewed as a delicious meal may seem mediocre after having a private chef since we have now “enhanced” our perception of what we can experience; Its like seeing a face in a rock, we can never un-see or un-experience something.
This is one of the reasons why I believe lottery winners end up depressed.
By experiencing life’s luxuries in a complete and sudden flip, the Positive effect or “high” is unbelievable and can permanently shift what makes them happy in the long term, especially if it wasn’t planned for.
This is how comedy works, the more unexpected the punchline in a joke, the funnier it is. I believe this is also how the lottery effect happens, the chance of winning the lottery is so low, that those who do experience an unbelievable increase in temporary happiness due to it being so unlikely and unexpected; Its shocking.
The more unexpected an event is, the greater emotional impact it has on us.
What can happen when we experience extreme positive emotions from the lottery? We can start to rely on the ability to obtain material things and experiences that we could not previously to achieve “happiness”. This attachment at the root of it is based on money, since you can only obtain those experiences or things because of money.
This is a recipe for disaster.
When the hit from spending the money goes away, the need to spend even more will arrive or depression and confusion will happen as we come back down to earth from our ATH(all time high). Money will never sustain happiness.
Remember how we talked about the more unexpected events triggering more of an emotional response? When we are in this space, particularly in this ecosystem with the potential growth we might see, we have to PLAN on making 10,000x. The more we plan on making this money, the less the desired outcome will impact or decisions.
How can we do this? Plan out how you will make it happen and KNOW what you will do when it happens, either in your mind or better yet actually write it out.
And I really mean “Know”. The less unexpected this type of outcome is the more rational we can remain and stop ourselves from attaching our egos to our money or making poor decisions financially. “Know” as deeply as you can that you will make X outcome happen and EXACTLY how you will act afterwards. Its not a hope, its an inner knowing. The more you think like this the more your actions will follow in accordance with your thoughts.
As Alex Hormozi said, “what previously got you from a 0 to a 1, will NOT get you from a 1-2”. We have to change our mindsets to properly climatize to the sudden change.
As we talked about, we can never un-experience anything, so will we be stuck at a baseline forever with a perspective that makes us unappreciative of “lesser” or normal experiences?
I believe that there is a way to change this perception: Psychological or physical challenges/ suffering. Think about when you experience a challenge that puts you through some sort of suffering or deprivation from your day to day happiness, you are always just a little more appreciative of something.
Have you ever gone a day without food? How good was that first meal? What about weeks of rain to finally get a day of sunshine? If all you get is sunshine, you may never experience how amazing it truly is.
Challenges bring us back to a baseline where we can appreciate things for what they are, despite having experienced incredible luxury in the past.
Suffering can bring us back to happiness through contrasting our perspective.
Get your mind and ego right before you get your money, or your ego and mind control your money.
Remember this as your wealth accumulates, because the less people wreck themselves the more power this community has to help make a positive impact on the world.
There are crazy things happening in the world, and we may need all the voices we can get in order to make change or prevent certain types of change.
Check out the video for even more commentary on the subject:
Thanks for reading this blog post, I hope you've enjoyed it.