Cody Hall

What I'm reading, writing, and thinking about.

What I’m Crunching — June 29, 2025

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Books I’m Reading

The Crux: How Leaders Become Strategists

This week I finished Rumelt’s second book. It’s a thoroughly excellent look at the intersection of good strategy and good leadership.

From the Goodreads summary:

In this ground-breaking book, Richard Rumelt, the world’s leading authority on strategy, shows how finding the crux of a challenge is the essence of the strategist’s skill. The crux is the key issue where action will best pay off, and Rumelt reveals how to pinpoint it so you can focus energy on what really matters. Drawing on decades of professional and academic experience, and through vivid storytelling – from Elon Musk’s decision-making to Netflix’s journey – Rumelt illuminates how leaders can overcome obstacles, navigate uncertainty and determine the best path forward.

Strategy is not about setting financial targets, statements of desired outcomes, or performance goals, it is about finding the crux and taking decisive, coherent action.

Video I’m Watching

What do asset price bubbles look like?

They have three parts:

  1. A single cycle
  2. Relatively short
  3. Crash back to baseline

Is Bitcoin a bubble or a new technology being adopted? You be the judge:

Article I’m Reading

Civil War? (Ray Dalio)

(A Cautionary Word) On Bitcoin

For a long time, various “evangelists” have been preaching the “gospel” of Bitcoin.

“Bitcoin fixes this” is the common mantra. Bitcoin can potentially fix some significant issues, but it won’t fix everything.

The human heart is desperately wicked, who can know it (Jer. 17:9). Bitcoin won’t fix the sinfulness of the human heart. It won’t change human nature.

We will always have the poor with us (Matt. 26:11). Bitcoin won’t fix wealth inequality.

The simple believe anything, but the prudent give thought to their steps (Proverbs 14:15). Bitcoin won’t automatically make people wiser, better investors, or better decision-makers.

Some are ascribing way too much power or transformative ability to Bitcoin. Don’t make that mistake.

Tweets I’m Reading

If you have feedback for me, if something resonates and you want to see more of it, reply in the comments below. You can also tweet at me on Twitter @the_cody_hall.

I look forward to hearing from you!

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