Memo: Nominal Assets, Real Value, and How to Live • Money and assets are not defined by how much you have , but by what you use as the denominator to measure them. • Gold has preserved value throughout human history, which makes it usable as the denominator of human currency . • The expected value of gold investment is not “growth,” but is close to 1.0 — meaning its value does not decline. • Fiat currencies are structurally designed to expand in supply, and therefore are destined to lose value over the long term . What Happens When We Use the Old Millionaire Standard • Around the year 2000: • $1,000,000 ≈ 3,333 oz of gold (at about $300 per ounce) • Around 2026: • Gold price ≈ $4,600 per ounce • To hold the same 3,333 oz , about $15 million is required In other words: A modern “millionaire” ($1 million) is no longer equivalent to a millionaire in the past. The Situation Looks Even Harsher in Japanese Yen • Exchange rate: $1 ≈ ¥160 • ¥100 ...

+AI Raises ROI (Return / Investment) Introduction Recently, AI has become a common tool and is used across a wide range of activities. This widespread integration of AI into everyday workflows can be described as +AI . Most discussions around AI focus on productivity improvements or automation. However, the more fundamental impact of +AI lies in how it changes the structure of ROI itself. +AI Effects on ROI ROI is a common metric in business and economics. ROI = Return / Investment +AI raises ROI. Its effects can be broadly divided into two patterns: • Increasing Return • Reducing Investment While both exist, their importance is not equal. +AI and Return +AI can increase Return in some cases. For example, it may help produce better outputs, discover new opportunities, or scale services. However, Return is inherently uncertain : • Market conditions change • Demand fluctuates • Success cannot be guaranteed Relying solely on Return expansion is not the core strength of...

+AI & the PDCA Cycle Introduction In the +AI era, the costs of both horizontal expansion and vertical expansion are steadily decreasing. Horizontal expansion refers to applying methods or products that have succeeded in one market or environment to other markets or environments. For example, an investment strategy that worked well in the stock market may be tested in commodity futures or foreign exchange markets, or a game application that succeeded on Windows may be ported to macOS. With the advancement of +AI, such horizontal expansion is becoming possible at a far lower cost than in the past. Cost Reduction and Acceleration of Vertical Expansion Vertical expansion, on the other hand, refers to running the PDCA cycle , a sequence consisting of Plan, Do, Check, and Action. • Plan : Formulating hypotheses and plans • Do : Conducting small-scale experiments • Check : Evaluating and analyzing the results of those experiments • Action : Deciding on the next steps or ...