Taylor Foreman, current Praxis participant and aspiring entrepreneur, joins me to discuss subjectivity of value, short and long term gratification and how self-interest can translate into good consequence. We also talk about art and the relation with audience, as well as his experience with psychedelics.

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Meet the hosts

I'm an entrepreneur, thinker, and communicator dedicated to the relentless pursuit of freedom. I'm the founder and CEO of Praxis, an intensive ten-month program combining real world business experience with the best of online education for those who want more than college.


  • Ok I was thinking about myself here: bills paid, only debt is a low interest mortgage, PM stored, some cash money saved. Which is it better to do when investing surpluses and savings between $500-$1000: 1) Put it all on one stock/etf/etc  the whole lump and then save up for the next buy (thus avoiding trading and transaction fees) 2) Pick a spread of affordable and undervalued stocks etc to avoid having all you investment money in too few stocks?

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  • I read an article on here today attempting to make the case that time is a valuable resource that can be owned and stolen, this couldn’t be more incorrect. I wouldn’t have made so much of this but a lot of people agreed with the article, titled ‘Are You A Time Thief’. “Time, like real estate, is valuable—primarily because there is a limited supply of both; there’s no way of producing any more of either.” Time is not like real estate. Time is a measurement, real estate is an objective rivalrous good. Because of this time is not ownable property while real estate is. The author claims ‘there’s no way of producing more of either’, this is false. More and more real estate is produced every day and is unlikely to stop being produced, and time is the way that humans measure the existence of the cosmos, as long as humans exist, the measurement of time will continue, and it is unlikely humans will stop producing more humans. There is no property right in ‘value’, therefor it is not ownable and can not be stolen. You have a property right in your real estate, you don’t have a property right in the value of your real estate. Your real estate can be stolen, the value in your real estate can not be stolen. For example, you may value your time at $30 an hour, but if I show up an hour late, am I $30 richer? Are you $30 poorer? No and No, because ‘time’ can’t be stolen and value is subjective and not property. Further, even if I do show up an hour late, while it can be an annoyance, I never initiated the use of force, so you wouldn’t be justified in any retaliation, like suing me for $30 or something. And I’d even argue that if you did, you’d be the one initiating force against me. Now stop calling people thieves.

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  • In a libertarian utopia, many libertarians will run their own business, perhaps even more than they do today.  In our world today there are many rules and regulations in effect that are imposed on businesses, and many of those fall into a category we could call Consumer Protection, or Consumer Rights. As a person who has owned and operated a successful retail business, I’d like to get other views on what customers might expect if I were to open a business in a completely libertarian world. Consider this scenario.  Suppose I decide to run a tire store and  also install the tires which I sell.  Under normal circumstances I would hope to have that person come back and purchase tires again but that would not likely happen for possibly two or more years.  What obligation do I have to that customer after they have satisfied themselves that they were installed on their vehicle,  paid for them and driven away from my shop? Based on your own experiences as a customer, what obligations, if any, do you think I would have to you and why?

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