What was Cashflow Summer 2020 like?

Cashflow Summer, a business investment event in the Czech Republic, which is held regularly once a year, was managed to be organized this year as well, 2020, despite the adversity of coronavirus measures. As a participant in a number of past conferences, I had certain expectations and in this report I will summarize what I was most interested in and what I take away from the event. For participants, this can serve as a reminder, and for those who missed the event, the article will help to gather some interesting information.

Before you start reading, take a look at a short excerpt of what this event looked like. The good news is that the next year will of course be waiting for us in 2021. The promo video is more in tune with the atmosphere and the accompanying program, but know that the event is about sharing and sharing the experience of investors, business and bio / digi hackers.

Cashflow Summer 2020 ideas

• Offline events will always have their charm and you need to meet face-to-face.
• Investing and bigger business is about contacts. You need to “go for coffee”.
• We live in a partially toxic environment. You need to perceive your body and mind and help them keep it all up.
• The sooner and better we understand ourselves, the better we will do all the activities we do, including investing and doing business.
• Bitcoin is not the only technological innovation that has made people money. Opportunities are. It is necessary to constantly learn and draw from various sources. Then link the information and make the conclusions yourself.
• We are becoming increasingly dependent on technology. However, we can use technology to help us in life, work and investing.
• Money can be made in different ways. There are more and more ways to go. Let’s be careful.
• The money is moving. Let’s stop for a moment and find out where and where we are in the right place and doing the right activities.
• There are rules by which the world follows. We do not live only in the Czech Republic. Let’s take advantage of the opportunities that other countries offer us.
• Business is more about people than technology.
• Business is primarily meant to help. Let’s focus on the customer / client journey.
• Investing, working and living is a team game. The soloists won’t make it far. They may be faster and more successful in the beginning, but be aware that our generation of millennia is very likely to live to be 100 years old.
• Self-reflection is the most important educational channel. No YouTube or coaching, mentoring. We need to have self-reflection to realize it all and take action. The lack of action also means that we do not have the necessary self-reflection.
• Negotiation is part of investing and doing business. It’s the skill of the winners.
• If you want to get into debt, then buy an asset with that money.

I write regular reports from investment conferences .

The goal of the investor is not to understand everything, to know everything and to have an opinion on everything. The goal is to find those few good investments to achieve our goals. I agree with Warren Buffett that a good investor should read a lot. And only then invest. After attending dozens of conferences and talking countless hours with various investors, I believe that meeting and sharing personal experiences helps make better investment decisions.

Personality development

Cashflow Summer was originally a tough business-investment conference and it must be mentioned that its direction is adjusting a bit. The program includes more frequent lectures and workshops related to personality development, often relaxation, meditation and other similar techniques. These lecture and workshop blocks are of great interest to the participants and I think it was a step in the right direction.

I myself perceive intensely how the psyche can affect performance at work, even when tapping the keyboard. Breathing exercises, meditation and other techniques clearly belong to life if we want to achieve great goals in business or investment.

Veronika Jelínková and Libor Mattuš talked about biohacking and also led hardening workshops. We also touched on sleep topics and I was interested in the mention of sleep expert Michael Breas. He divides people into 4 categories:

• Bear
• Wolf
• Dolphin
• Lev

Each of these types has a different natural setting of sleep and energy patterns.

Although I’m a lion, I’m not a bit of a lion’s sleep patterns. He gets up without an alarm clock and still in the dark and starts his morning routine. I think he’s moving more towards the wolf. But I have to do more research.

In general, within biohacking, you can take a look at the Code of Life blog , where Veronika, Libor and many others contribute and thus create great content on the Czech Internet in this area. And I want to highly commend the explanatory youtube videos, they are great!

Decentralized finance

Petr Sanetrník and Pavel Přecechtěl shared their experiences in specific areas of technology such as decentralized finance (DeFi) and virtual reality.

Ethereum will move to proof-of-stake (well explained in the English article here ). Whoever owns 32 ETH and more can stack and earn a few percent a year just for holding.

The Hackers Congress by Parallel Polis, which should take place in October 2020, was mentioned. The theme of this year will be Digital Totalitarianism. Information means a lot, and the software seems to have the most information.

The advantage of stable coins that I am still in the decentralized world of cryptocurrencies, we do not have fiat tax obligations.

The boys mentioned the Synthetix Network Token , which should allow you to buy shares for the crypt in the future. In the price chart, we can observe that “something is happening” with this token since June 2020.

Virtual reality

The purchase and sale of virtual land alone is no longer worthwhile. The investment path leads to building something in virtual reality and then selling it or carrying it with cash flow. By way of example, I will buy land, build a museum, place objects and either sell the whole or collect entrance fees. The second example is to buy a Somnium teleport in the virtual world and then collect admission from anyone who passes the teleport.

Many people are moving from Decentraland to Somnium Space VR. There should be another round of land auctions in the Somnium virtual world in the fall.

Economic activity will shift to virtual reality. Jobs will be purely in VR (eg saleswoman in VR). That’s clear, it’s already happening. But it is not known what world will be successful. There may not be one, but still many will arise and disappear.

Facebook comes with VR Horizon.

The World Echo VR Championship is already taking place. It is only a matter of time before there is a sport in the CoR as part of the Olympics.

Digital footprint and security

Pavol Lupták and Mário Havel talked about topics such as security, the digital footprint and digital identities, the possibility of optimizing taxation in connection with the relocation of companies to offshore or obtaining a passport from countries such as Panama . Although the panel discussion was called How to ethically hack the system and the bank , we focused mainly on how to insure yourself against the current system as a natural person (through cryptocurrencies , offshore companies , citizenship, passports, payments, virtual SIM cards, world insurance, etc.).

Although long and sometimes not always catchy, I recommend watching the whole.

Business, business and tips from experienced

The lecture by Marva Shamma was one of the best in the whole Cashflow Summer. After graduating, I realized that it’s actually a shame that the conference revolves so much about investing and little business and entrepreneurship. At the same time, many investors have a large overlap in business and de facto their investment is partly based on business / entrepreneurship.

If you want to do something fast, do it yourself. If you want to go far, go with someone.

How to look for market opportunities? The answer is: Customer activity cycle (I recommend googleing).

We are experiencing an overpressure of technology. But in the end, it’s not about technological innovation or business potential. It’s about human potential. But (not technology) but people can innovate.

Blue Ocean Strategy. Create a business ecosystem. Nike + doesn’t just sell shoes and t-shirts. They have an application for tracking running, they have contracted coaches, etc. They work with the Before – During – After cycle. They respond to the needs of the customer, in this case a runner who wants to run a marathon. What needs he has before, during and after the marathon.

Search for strategic partnerships. We only know something well. We have cooperation for the others.

He forbade the word “but” from being used in the team. Reduces energy. Instead, they use the word “a”. Give it a try, it will send the dynamics of the conversations one level up.

We have to be like a tree. Firm in the foundations and flexible in the crown to withstand any wind.

Important for team players: the feeling of belonging. Feeling like he belongs somewhere.

1. A common vision
2. The feeling that I’m moving.
3. The feeling that I belong somewhere.

Innovation does not happen because we can. They happen because we have to. We are generally lazy creatures. Also, breathing takes place “alone”, otherwise we would suffocate. Whatever we get in the subconscious, we excel at that.

Self-reflection – one of the most important activities that will help us achieve our goals and desires.

Real estate investing

Pavel Opluštil had an excellent lecture, as is usual at the Cashflow Summer years, his practical examples together with rhetoric are simply great. I will not share specific tips in the article, interested parties will find the part in the YouTube Cashflow Summer listing below. The great thing is that Pavel stayed after the lecture and had a lot of people around him with related questions. And that’s what such events are like!

• Use subsidies.
• Learn depreciation.
• Shopping for a legal entity.
• How much money do I make vs. How much time will I gain.

The panel discussion with Nela Kubasová ( RealitniShaker.cz ), Vít Endler ( FinancniSamuraj.cz ) and Petr Novotný was great. Petr Novotný, whom most of them know thanks to InvesticniWeb.cz , or related conferences , talked about investing in land. The tips fell on Slovak agricultural land (which is about 5 years behind the Czech in terms of prices), currently price 7-11 CZK per square meter. It is therefore cheaper than in the Czech Republic, while the subsidy policy is the same for all countries in the European Union.

The Czech Republic takes CZK 32 billion in subsidies in agriculture. Agrofert (Andrej Babiš) takes 2 billion of that (people would say much more). As investors, we can use these subsidies. It’s an open door.

Nela mentioned the personal criterion of a minimum 7% profit, otherwise the property is not interesting.

Good offers can also be found on portals such as sreality or bazos.cz – real estate is also sold there. There is not always a lesson that when real estate is on real estate, it is too late.

Negotiating the price of real estate is essential. Courses have been recommended or whether we hire someone to do so, you can really make a big financial difference here.

The current coronavirus crisis in the area of ​​real estate sales is still too insensitive – as buyers, we must be quick and try to get the seller to inspect as soon as possible (even before the official date).

3D virtual real estate tours is a hot topic.

Other thoughts

We should invest at a time when there is an anomaly in the market. Shares fell by 30% or more. This is clearly an anomaly. When else have we seen stocks fall so deep?

Even Warren Buffett doesn’t seem to know how to value companies and their shares. That’s why he’s probably still waiting with a lot of cash.

A completely new topic that has opened up with the coronavirus crisis is the printing of money. This is a factor that all investors will now have to take into account and take into account in some way in their investment strategy.

Get in debt but buy an asset with that money.

Inflation awaits us.

Volatility will last until the fall, when the US presidential election will take place.

Water sports and accompanying program

Unfortunately, the weather was bad for us this year and it rained most of the day. Unfortunately, this meant that we did not enjoy the beach and water in Nákle so much. I didn’t try a wake board like that. The weather undoubtedly plays a very important role for such open air events.

This, of course, made it difficult for a number of other organizational things, such as parking in the mud, camping on wet grass with sprawled tents next to each other, and toitoics occasionally in a more difficult state. That’s why maybe next year will take place in a different place.

Of course, it’s not for everyone, this year it was more extreme. Last year, on the other hand, was great in terms of camping. Some therefore took a nearby hotel or departure to Olomouc and morning arrival.

Fortunately, it didn’t rain during the evenings and evenings, so we could talk at night on the beach and by the fire, where the guitar was playing and people were singing.