interest is the 3x and budget is the 1x

the sec just cleared the first 3x leveraged bitcoin funds in the us.

they don't hold a single sat. they use futures to chase three times the daily move and reset every day, so a 1 percent move against you is a 3 percent hit....

everyone's arguing about whether that's good for bitcoin. i keep thinking about something simpler. leverage only works when there's something underneath it to lever.

i had a debrief this week with a partner at a services firm. he loved the idea of a show. he got it in about five minutes. he was interested, and i believed him.

then he told me the truth. the budget is set by the ceo and an executive committee. it's fully allocated. any new dollar means cutting an old one.

that's not a no. that's the most honest yes you'll ever recieve.

most founders hear interested and start counting the money. don't. interest is the 3x. budget is the 1x. without the 1x, the 3x is noise on a chart.

here's the flip. stop selling new spend. nobody has new spend this late in the year. sell the line item you replace.

his best leads today come from a few partners who refer clients to him. it works. it's also a ceiling, like a well that fills at the same speed no matter how thirsty you are.

so the conversation changed. not add a podcast. instead.... what if those referral partners, and a hundred people like them, were guests on a show? the channel he already pays for in time gets wider, and nothing about it feels like a pitch. that part mattered to him. his buyers walk the second it smells like a sales call.

he's taking it to the person who owns business development. that's the right move. you don't fight a committee. you hand them a swap.

long term, every budget works this way, yours included. bitcoin taught me that. there's a fixed supply of attention and dollars inside every company, and the only real question is what you're willing to stop doing

we built our outbound and podcast offer around that idea. it's a system you run, you own every relationship, and nobody promises you a number.

so look at your plan for next quarter.... what are you going to cut to make room for the thing you say you want?