Mar 20 2020 28 mins
Glove up, mask on, and tune in to this week’s FounderQuest! Starr, Ben and Josh talk hot investing tips now that our 401(k)s are gone, plans for the “Honey Bunker,” pivoting away from remote and back to co-located working, Animal Crossing, hoarding Mucinex, and the Corona vs. Pacifico beer debate is finally settled.
Show Notes:
Links:
Daniel Kahneman
Jeff Bezos' Regret Minimization Framework
Jim Kramer
Honeybadger Developer Blog
Full transcript:
Starr:
All right. So let's get back on topic. You all were talking about profiteering off of this terrible crisis by investing in the stock market. Honeybadger Blog
Josh:
That's a wonderful way to describe it.
Ben:
Seriously, I'm all about profiteering.
Josh:
Yeah. Yeah. So I've kind of, I don't know. I've been telling myself I've been waiting for this, so I'll really kick myself if I don't profiteer a little bit or at least try, I feel like, I don't know. There was an article, I forget, I'm trying... Who said this? Basically, Oh, I think it was Daniel Kahneman said one of the keys to investing at least to maintaining peace of mind is like knowing what your future regret will be. And then basically like taking like modifying your behavior to optimize for that versus like adapting to whatever your current fears or whatever is driving the market is driving you or whatever. So I decided that if I don't put a little bit of money into these bargains that I'll kick myself, I'll regret it more if it goes up and I didn't participate versus if I lose a little money.
Starr:
You know I haven't read that book, but I was using a similar strategy today. I was at target and I was like, well, should I get two boxes of Mucinex or three boxes of Mucinex.
Josh:
You would really regret.
Starr:
So I was imagining myself like in the future really needing some Mucinex. So I bought three, I thought four would be too much. I thought four would be like be tipping into... it's like nobody ever buys four boxes of Mucinex.
Josh:
And then-
Starr:
I could see somebody buying three just if they are a big fan.
Ben:
I think you get put on a list if you buy four at the same time.
Starr:
Oh yeah?
Josh:
Because this is like how, this is how like only a few people end up with all the Mucinex.
Starr:
Well you know what, it was the last thing available on the shelf, which was lucky because I actually went there for it. And it's like all the... what does it DayQuil NyQuil tabs all cleared out although there's still some bargains available on that. The liquid form, because nobody likes the liquid form of DayQuil or NyQuil because it tastes gross. Right. And so even in the apocalypse, I don't want to be drinking that stuff.
Ben:
So Josh what you talked about sounded to me like the regret minimization framework that Jeff Bezos-
Josh:
Yeah, that's right. That was, that was another one that kind of was a similar. Yeah, I really liked that. I think it makes sense.
Ben:
So Starrr is loading up on the Mucinex, you know my prepper thing?
Starr:
What's your prepper thing?
Ben:
I'm going to get a haircut
Starr:
Yeah. If you're going down, you want to look good doing it.
Ben:
Yeah.
Starr:
Why not?
Ben:
I'm thinking, if you see that chart, US vs. Italy and it shows that the US following the same exact pattern that Italy did but just a little different timeline so if you see that and go "Ok myabe everything will be shut down in a week right? and I won't be able to go get a haircut in a week so I'd better get a haircut today so that I can look good for the apolcolypse."
Josh:
And, yeah, and I mean like, you won't look handsome. Yeah. I mean, you, you won't look handsome on the on zoom calls and we can have that. We can have a shaggy Ben on zoom calls. Now I don't know if our listeners have ever seen me in person, but I don't have this problem. I never cut my hair. So like, well, I cut it a little bit more often than I used to a few years ago.
Ben:
You're like the Sampson of Honeybadger
Starr:
That's all right. You know your Honeybadger's is nature boy.
Josh:
So Ben, did you go stock some stock shop shopping this morning you said?
Ben:
No we always have a backup supply, like we always have months of toilet paper and food and stuff in our garage. That's what we do, but, just this morning I thought "You know what? Maybe it's time to buy that freezer for my garage."
Josh:
Yeah. Nice. I have the freezer and I stocked it yesterday with a lot of chicken breasts from Costco. Not the organic chicken breasts because the organic was gone like long gone. So, apparently-
Starr:
Well, let's be honest. You want those preservatives, you want those preservatives now. You don't want that stuff to last as long as possible.
Josh:
Yeah. It's probably a, it's a net win for me probably to get the non-organic.
Starr:
Yeah. I'm just, I'm just saying Josh though, like when that electricity goes off because the zombies have like broken into the power plants and gnawed the wires like that, like all your chickens going to be rotting, but I'm going to be sitting pretty on my 50 pounds of brown rice.
Josh:
Nice. Yeah. Well I might just eat all the chicken and just absorb all those gains, all those protein gains at once, like just to inject it straight into your veins.
Starr:
You're the hero we've been waiting for Josh. You can like go out and battle the Coronavirus.
Josh:
Yeah.
Starr:
You know, like a boss fight.
Josh:
Yeah. What's better than steroids? Eating 50 pounds of chicken in a single sitting.
Starr:
So since we did our show last week, essentially like the news moves super fast like pretty much everything we talked about was completely out of date. And which is funny because that show was going to be released today, like the day of the... we're actually recording this and then this one will be released in a week.
Josh:
Yeah. So hopefully by the time people get this, the world will have returned to normal and it'll be like, this all never happened.
Starr:
I'll be like, dammit, why did I pay 20 pounds of red lentils? I don't even like lentils.
Starr:
So yeah, so it's a little bit hard to focus on all the stuff going on. It's like yeah, I'm like popping out here and there to buy my rice. I spent like $700 at target this morning, but like I also bought an Nintendo Switch and accessories. So that kind of bumped it up quite a bit.
Josh:
We were talking like about the electronics department because we have a friend at Costco, we have a friend who like manages the electronics department. We were like, I wonder how he's doing. And I'm like crap, I should ...