Hey there person who’s interested in the world

Welcome to the very first edition of the Growing Up weekly newsletter!

This week I'm reading:

Range: Why Generalists Triumph in a Specialised World the 2019 #1 NYT bestseller by US journalist David Epstein

I was recommended Range by a young chap I met playing football (the round ball variety) at Cambridge. I thought it would be excellent confirmation bias since I am determined to spend my life learning about lots of things whilst never becoming a specialist in any of them. I’m reading the copy my Dad left in London having finished it on his recent trip over here. The book appealed to him as he is in the business of giving corporate finance advice to clients across deal types, sectors, regions, that is, old school generalist relationship banking, and not the hyper specialised investment banking model I was exposed to during my short stint in that world. Anyway... the book.

So, I'm about halfway through and I just learnt something about Vincent Van Gogh that made me very excited. And yes, before you say it, I know he struggled immensely with his mental health, that he may have needed to rely on his brother financially along the way and that his life ended tragically. Let's put that aside for a moment and whether you are team Sunflowers or Starry Night, I think we can agree the man made some pretty impressive (and extremely valuable) works of art.

How is this related to being a generalist? Well apparently, Van Gogh wasn't the child-prodigy-brush-in-hand-before-he-could-walk type (à la Tiger Woods (except with a golf club... obviously)). Rather, he THREW himself into multiple (seemingly) unrelated endeavours PASSIONATELY before he ever sat in front of the easel. He started off convinced he'd be a successful art seller, at 20 confidently telling his parents he'd never have to look for a job again. Not quite (relatable). Then it was onto oddjobs at an English boarding school, tutoring French and maths, working in a bookstore. The next grand plan was to become a missionary in South America. No, maybe a pastor instead. Wait, the Word of Lord Jesus Christ needs to be spread IMMEDIATELY - no time for Latin, Greek and a university degree, straight to the coal mines to preach.

Even when he finally started drawing (and was told he should "revert to a beginner's class with ten-year-olds"), he continually changed his mind. In Epstein's words: As he had between careers, he pinballed from one artistic expression to another. On one day he felt true artists only painted realistic figures, and then when his figures came out poorly, the next day true artists only cared for landscapes. One day he strived for realism, another for pure expression. This week art was a medium for declaring religious devotion, next week such concerns encumbered pure creation. This made me laugh, because I constantly have new ideas and will be ABSOLUTELY CONVINCED THAT THIS IDEA IS AN ABSOLUTE WINNER AND I'LL SPEND THE REST OF MY LIFE DEDICATED TO IT. 5 min later. Hmmm nah not the one. I know that VVG and I aren't the only ones in this category, and I saw a bit of a positive message here. If you are also like this OR are worried about your friend / partner / child who keeps bouncing about, never committing long term to anything, totally unsure of where they are going to end up…Don't worry! I'm not saying you'll one day sell a portrait for $83m at Christie's (also not saying you won’t) or that you're destined to chop your ear off (god forbid, ☹ poor Van Gogh). Just saying (mainly to myself) ... keep trying things! If they don't work out, no problem. Onto the next thing.

Reminds me of a mirror I used to walk past everyday with the words (never said by Winston Churchill) painted on:

"Success is not final, failure is not fatal, it's the courage to continue that counts"

This week I'm asking:

Are buy now pay later companies another version of payday loans?

Speaking of having a new idea every 2 minutes… Reading about buy now pay later made me think: maybe I should take my finance career off ice and use my YouTube / TikTok accounts to empower people by providing some 101 financial education for the masses...

Let me explain…

Remember that Netflix docuseries “Dirty Money”, and the Payday episode about now imprisoned loan shark Scott Tucker? Well… I just read last Friday's Financial Times’ Big Read on buy now, pay later and it reminded me of that. Overreaction? So, yes I see that some of these providers have done away with late payments and interest charges and that Swedish payments group Klarna notes its “business model is funded by retailers rather than customers”... (is that really going to work?) but I couldn’t help but wonder (Carrie Bradshaw voice), is allowing the customer to delay the cost of an Asos dress really good for them? Is the average consumer financially literate enough to understand that when they click that button they are taking on a form of debt?

I'd love to know what you think…(you can reply to this email).

Do you use buy now, pay later? (Zero judgement here). Would you be horrified if you found out your children were using it? Do you think Klarna is a good, helpful service to manage your finances, or do you think it’s dangerous and should be regulated? Or maybe you think it’s dangerous, but you know what, it’s the individual’s responsibility to educate themselves and not take on debt they can’t afford?

This week I'm grateful for:

Violins!

On a totally unrelated note (pun intended)… on Tuesday night I had the privilege of attending the Royal Academy of Music and listening to my very talented 21-year-old French former housemate play her final exam recital. The first piece was from one of Bach’s Partitas (new term I learnt) “Chaconne”. I know approximately zero about classical music, but it was very good… as in, the first few notes brought a physical tear (just one) to my eye, type good. So I thought I'd leave you with this final thought... whether it be live music, sport, or watching someone build an excel model really quickly, how good is getting to experience other humans sharing their talents and hard work with the world?
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Thanks for being part of the Growing Up community. Feel free to forward this onto any other curious souls in your life and see you back here next week!

xx Delia

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