Beating inflation requires understanding various markets and asset classes such as commodities, equity, bond, and real estate. It also requires constant monitoring of the world's central banks and a deep understanding of macroeconomics.
As the world becomes more uncertain, engineers are required to spend half of their time learning about a range of topics unrelated to their field of expertise. This makes it harder for them to provide for themselves in the future and increases uncertainty about what the future holds.
In this podcast, the speaker discusses the concept of taking risks in order to start a business and the rewards that come with being an entrepreneur, despite the potential negatives that a low time preference can bring.