I have always valued masterminds for introducing me to new ideas, fresh perspectives, and individuals with diverse backgrounds and experiences.
For as long as I can remember, my calendar has been filled with the spaced repetition of a multitude of events. I am a fan of the rhythm of conferences, which gets you out of the office and away from day-to-day activities, gives you a chance to think about what you really want, and (perhaps most importantly) shifts what you believe is possible.
I also enjoy the intensity of live events and being in a “solution space” for concentrated periods of time.
In addition, I believe that a “different perspective” is an important part of creating extraordinary things.
Looking back, I got productive things done and benefitted from innovative new mutations that wouldn't have happened except by being outside of my default path (the rut that tricks us into feeling like we're thinking, even though we're simply running habitual processes on habitual stimuli that produce okay, but predictable, results).
The truth is that I liked and valued all the groups I attended regularly. Even if there was an event that didn't meet my expectations, the benefits and value I got from those groups made them easily worth the cost of attending (not only in terms of money … but also in time, time away from other things I cared about, and the lost opportunity cost of not being able to do other things while I was doing those things).
Nonetheless, as an experiment, I decided to stop going to Masterminds last year. I even called it a “Sabbatical”
The Power of Conscious Choice.
Here are a few of the reasons I made that decision.
To start, I wasn’t looking forward to going to events anymore … and often felt overwhelmed or constrained by my schedule.
Sometimes, less is more.
I've flown over 6 million actual butt-in-seat airline miles and averaged between 150 and 250 flights a year for decades.
However, upon reflection, even though most of what I was doing was stuff I started because I liked the community or the thought process … my schedule had become almost a habit, ritual, or superstition – rather than a choice.
And I wasn't thinking about the opportunity cost of going to these events anymore.
How Do You Figure Out What to Keep and What to Abandon?
When I talk to entrepreneurs about their businesses, part of my assessment process is to look at their teams and determine if there are weak performers or people who otherwise shouldn't be there. For example, people that may be high-performing but are bad for the culture. Even in great companies, there are a couple of people like that. But for the most part, high-performing teams have high-performing team members. And because the leaders don't want to lose capability, they leave things the way they are.
Perspective matters.
Instead of asking, “Who am I willing to cut? Try the opposite. Ask, “If I were in a boat and it capsized, who's the first person I would try to save?” Then ask yourself, “Why?”
The same technique works with product lines and time commitments.
So, last year, I decided not to attend any event unless I was speaking. Why? Because I wanted to free my time and take a break …. and I figured it would create a force function to highlight the things I felt compelled to add back faster than the year I gave myself.
I thought of it as an energy-based meritocracy.
However, a strange thing happened. For the most part, I haven’t missed anything enough to pull it back into the boat.
That doesn't mean that I don't miss some of the groups or people from time to time – and it certainly doesn't mean that I didn't find them valuable … But, there's a time and a place for everything (and it isn’t the Season for those things, for me, right now).
I'm spending my time and focus working on a different set of things right now that need intensity and priority.
There Is an Exception to Every Rule
Meanwhile, I started attending some personal development and coaching programs from Brendan Burchard this year. Part of my rationale was that I believed the content would help me deal with some significant issues I'm dealing with (or foresee dealing with).
I sense huge upside potential … as long as I'm in the right place in terms of mind, body, spirit, and strategy.
I already have so many tools in my toolbox that time away from certain other programs doesn't really deprive me of tools that I use regularly.
I saw the clearing as an opportunity to add a new set of tools and a different perspective that I hoped would kickstart other things.
The Decision to Attend a High-Intensity Conference
I've been on a hard sprint towards some massive goals. It's been exhausting on many levels.
The idea of a four-day, high-intensity conference that involved thinking, feeling, connection, communication, questions, focus, attention, and participation felt overwhelming.
I had to leave Dallas early in the afternoon to get to the conference destination in time to get a good night's sleep, which was important because I had to be prepared for the 7.30 a.m. start time and the 12-plus hours of events every day.
When it came time to leave for the event, I didn't want to go.
The truth is, I really didn't want to go.
But a part of me also realizes that a professional stands and delivers when it's time to stand and deliver.
Staying Home vs Going Out
I know that almost any time I've been in a situation like this, after going to the event, I call my assistant, wife, or somebody on the team and say, “Wow, I'm really glad I went. Clearly, I was supposed to be here. I met this person ... or it reminded me of something that I've always known, but for some reason I haven't been applying ... or I got this new perspective that really makes sense, which I think will make this other thing easier.”
I came up with a phrase to describe that feeling: “Good things happen when I'm in motion!”
Too often, when you're under stress, your self-preservation instinct is to find a quiet place to isolate yourself and wait for the storm to pass. But that’s not what you really need.
So, when I was going to miss the event, everyone basically said the same things to me …
"You should reconsider because good things happen when you're in motion. And, remember, you always tell me that you were supposed to be there when you get back."
There and Back Again
Now that I've finished the conference, I'm dictating this in the car on my way back from the event.
Once again, I feel silly for thinking about not going.
It's one thing to know what you know, but it's another not to know what you don't know. Sometimes, you can't imagine what you're going to get when what you're trying to get is something that's hard to imagine.
I encourage you all to think about:
- Some things that would be worth spending time on.
- Some of the things you deny yourself because of Maslow's Hierarchy of Needs.
- Some of your more basic needs are taking too many cycles, but part of what makes us extraordinary is to think extraordinary things, and that doesn't happen as often under ordinary circumstances.
So, make time for things that make extraordinary things more likely.
Just something to think about.
Don't get me wrong - while I've taken a brief sabbatical from events, I'm still a massive fan and plan on adding some back to my schedule. Precisely for the reasons mentioned in this article. But, it's not going to be because it's my routine, but because I'm being deliberate and intentional about where I spend my time.
Onwards!
The "Chart Of The Century" In 2025: A Look At Consumer Price Inflation
In an era of economic uncertainty, few visualizations have captured the attention of economists, policymakers, and everyday consumers like the “Chart of the Century” created and named by Mark Perry, an economics professor and AEI scholar. This chart tracks the dramatic shifts in consumer prices across various sectors of the American economy over a quarter-century, revealing patterns that challenge conventional wisdom about inflation, purchasing power, and economic well-being.
The most current version reports price increases from 2000 through the end of 2024 for 14 categories of goods and services, along with the average wage and overall Consumer Price Index. Here are the key findings.
Core Economic Metrics: The Big Picture
(2000-2024)
Meanwhile, the cost of hospital stays, childcare, and college tuition, to name a few, have surged. Why? These sectors share important characteristics: they are typically non-tradable services (cannot be imported), operate in markets with limited competition, and are often subject to extensive regulation.
Below is Perry’s Chart of the Century. To help you interpret it better, lines above the overall inflation line have become functionally more expensive over time, and lines below the overall inflation line have become functionally less expensive.
via Human Progress
For context, at the beginning of 2020, food, beverages, and housing were in line with inflation. They’ve now skyrocketed above inflation, which helps to explain the unease many households are feeling right now. College tuition and hospital services also have continued to rise relative to inflation over the past few years.
Market Dynamics: Understanding the Divergence
Factors Driving Price Increases
Factors Driving Price Decreases
Looking at the prices that decrease the most, they’re all technologies. New technologies almost always become less expensive as we optimize manufacturing, components become cheaper, and competition increases. According to VisualCapitalist, at the turn of the century, a flat-screen TV would cost around 17% of the median income ($42,148). Since then, though, prices fell quickly. Today, a new TV typically costs less than 1% of the U.S. median income ($54,132).
We should also consider the larger trends. For example, In 2020, I asked what Coronavirus would do to prices ... and the answer turned out to be way less than expected. If you don’t look at the rise in inflation but instead the change in trajectories, very few categories were heavily affected. While hospital services have increased significantly since 2019, they were already rising. There were some immediate impacts, but they went away relatively quickly.
Another thing to consider is average hourly income. Since 2000, overall inflation has increased by 87.3%, while average hourly income has increased by 123.3%. This means that hourly income increased 38% faster than prices (which indicates a 16.1% decrease in overall time prices). You get 19.2% more today for the same amount of time worked ~24 years ago. This represents a mild increase in abundance since last year.
via Human Progress
Although 10 of the 14 items rose in nominal prices over the past 24 years, only five had a higher time price when accounting for the 123.3 percent increase in hourly wages. Those items were medical care services, childcare and nursery school, college textbooks, college tuition and fees, and hospital services.
The Consumer Experience: Perception vs. Reality
It’s interesting to look at data like that, knowing that the average household is feeling a “crunch” right now.
My guess is that few consumers distinguish between perception and reality. However, feeling a crunch isn’t necessarily the same as being in a crunch.
A clear pattern emerges when examining the relationship between market structures and price trends.
Regulated Markets (like healthcare and education) tend toward higher prices over time, feature less price competition, and offer limited consumer choice.
Free Markets, show price decreases over time, feature greater competition, and provide consumers more options.
This pattern raises important questions about the role of regulation in various economic sectors and the balance between consumer protection and market efficiency.
With that in mind, how can policymakers address sectors experiencing significant price hikes, such as healthcare and education, without stifling innovation in tradable goods and services?
Future Outlook
Beyond all that, here are three other key trends to watch.
As we continue to innovate and policy changes, it will be interesting to see if we can make essential services as dynamically competitive as consumer electronics. While America is one of the best countries in the world in countless ways, we do lag behind several countries in healthcare and education.
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