To get value for value, understand subjective value and marginal utility
Quote
the value of a thing is always determined not by you, but by the individual that's acquiring it. And marginal utility, the more of a thing you have, the less value you place on each additional unit of that thing.
Episode 100: Streamers and Dreamers (episode page, opens in a new tab) 00:15:05 (play audio from this timestamp, opens in a new tab)
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Summary
Dave names the two economic laws behind value for value. The value of a thing is set by the person acquiring it, not by you. And the more of something you have, the less each extra unit is worth. Both are about behavior, not math.
Also said
Episode 11: and we're streaming sachdeva presets at a time, but it's a start. Once (approx., from transcript intro) 00:13:21 (play audio from this timestamp, opens in a new tab)
that's why when you introduce a new product to the market, they, you can't say, Oh, well, this is worth 1599. Because nobody knows yet. Right. And that's the whole idea is like, you can't know how much something is worth to somebody else.
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Episode 32: oh yeah we got lightning in a bottle baby Don't worry all become apparent (approx., from transcript intro) 00:30:58 (play audio from this timestamp, opens in a new tab)
it's just a rehash of the same of the same thing of divorcing the the sense of value, the subjective value of the listener, from the actual core content,
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Episode 100: Streamers and Dreamers (episode page, opens in a new tab) 00:15:29 (play audio from this timestamp, opens in a new tab)
And if you don't understand that, you'll never understand value for value, because value for value relies on those understandings of human behavior to function.
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