Sometimes you’re in the right place at the right time.
That was the case for Horace Rackham.
Rackham was a lawyer in Detroit at the turn of the 20th century when the city was thriving as a manufacturing hub.
And Rackham counted coal baron Alexander Malcomson, a major player in Detroit manufacturing, as his client.
In 1903, Malcomson came to Rackham for help. A friend wanted to raise money to incorporate a new company, and Malcomson wanted Rackham to handle the legal procedure. But he also offered him a chance to invest in the company.
Malcomson’s friend was Henry Ford. And the new business would be called the Ford Motor Company.
But Rackham was hesitant to invest. He went to a friend, the president of a local bank, for advice. And his friend told him, “The horse is here to stay, but the automobile is only a novelty – a fad.”
The advice spoke to the doubt and uncertainty around the new technology that was the car.
At the time, many thought cars were too fast and dangerous.
They were also noisy. One person likened it to “a regiment of soldiers” who “had begun to suffer simultaneously from flatulence.”
And of course, back then, there weren’t many suitable roads.
At the time, it just wasn’t clear how the car could be a winning technology…
Today, it’s hard to imagine what it’d be like without it.
Stories like Rackham’s aren’t a one-off instance. As humans, we consistently doubt new technologies.
Take Darryl Zanuck’s opinion on TV, for example…
Zanuck was a film producer and a co-founder of 20th Century Fox. In 1946, he said:
Television won’t be able to hold on to any market it captures after the first six months. People will soon get tired of staring at a plywood box every night.
But we know how that turned out… According to Advertising & Media Outlook, over 4.2 billion people watch TV today.
Or how about McKinsey & Company? AT&T hired the consulting group in 1980 to predict cell phone usage in the U.S. by 2000.
Its forecast: 900,000 subscribers… The reality: 109 million subscribers.
As you can see, making predictions on the adoption and evolution of technology is notoriously difficult…But as cars, TVs, and cellphones have shown us, a technology that takes off can exceed our wildest expectations.
And for those willing to take a chance, it can provide life-changing opportunities.
Rackham’s story bears this out. Despite his friend’s advice, he scrounged up the funds and became one of the original shareholders of the Ford Motor Company. He eventually sold his $5,000 investment in Ford for $12.5 million – a return of 250,000%.
These are exactly the kind of asymmetric opportunities we look for at Palm Beach Research Group.
Finding the Next Opportunity
A popular website called 99Bitcoins tracks “Bitcoin Obituaries” – or the number of times people have said crypto will die.
Back in 2017, the count was already well over 300… Today, it’s over 400, but new declarations that crypto will die are becoming few and far between.
It demonstrates how the narrative has shifted over the years.
According to CoinMarketCap, there are already over 12,000 cryptos on the market today…
So while we don’t worry much about crypto dying anymore, there’s still plenty of doubt and uncertainty over other aspects of crypto…
One of the questions raised is, “Do we really need all these cryptos?”
A bitcoin maximalist will tell you that bitcoin is the only digital asset we’ll ever need… And that all other blockchains and cryptos are unnecessary and inferior.
While an Ethereum maximalist thinks the same, but for Ethereum… and that any crypto investment outside of it isn’t worth making.
But longtime Daily readers know we don’t ascribe to the maximalist view.
We believe the future of crypto is a multi-chain world.
Just like the internet is a mix of protocols that make different hardware and software applications interoperable… crypto protocols and applications are following the same pattern.
And a multi-chain crypto ecosystem has clear benefits:
In a multi-chain world, demand can be spread out over multiple networks, reducing overall congestion.
A multi-chain world is more resilient. So the failure of one chain wouldn’t mean the death of the entire multi-chain network.
And a multi-chain world offers boundless innovation… different components from different systems will be combined to create new products and services.
In other words, bitcoin won’t be the only blockchain and crypto we use.
Of course, there’s no way of knowing just how many blockchains there will be… But we feel confident in saying there will be more than one successful project in the future.
Consider our past doubts and uncertainty around new technology like the car, TV, and cellphone…
Each of these become revolutionary technologies, and no single company dominates these markets today… Their ecosystems are massive.
The blockchain will evolve and grow in the same way… And that’s where a tiny subsector of cryptos comes in.
The Next Technological Revolution
The subsector I’m talking about is called “Tech Royalties.”
Few investors know of them… and even fewer understand their massive potential.
They give you access to the explosive upside of crypto… and allow you to earn more crypto on top of your initial investment.
Think of it this way…
If you owned a royalty on the music of Bob Dylan, whenever one of his songs gets played on the radio or somewhere else like Spotify, you would collect a royalty payment each and every time.
That’s the opportunity before us with Tech Royalties… We can earn regular payments from certain cryptos, whether the crypto market goes up or down, just for owning them.
And unlike a traditional cash royalty, Tech Royalties pay out more of the underlying crypto.
We have readers making over 1,200% a year in one Tech Royalty based on their original investment… and that’s in addition to six others yielding more than 100%.
But the best is yet to come…
There’s a huge catalyst on the horizon that will bring Tech Royalties into the mainstream… and it’s going to happen very soon.
Thanks to a radical code change, this catalyst is on the verge of launching Tech Royalties to the stratosphere.
We call it the “Second Phase.”
It’s programmed to happen one time only ever… and we believe it can unlock 10 lifetimes’ worth of S&P 500 gains over the next 365 days.
So to prepare our readers for the Second Phase, Daily editor Teeka Tiwari is holding a free “Tech Royalties 2.0: The Second Phase” livestream this Wednesday at 8 p.m. ET.
He’ll share his No. 1 Tech Royalty to buy now, plus a special bonus for event VIPs (see the P.S. below).
On top of that, he’ll release details on six Tech Royalties you can use to start building 10 lifetimes of wealth over the next 365 days.
So, click here to reserve your spot this Wednesday at 8 p.m. ET…
And you’ll learn precisely what you need to do to make as much as 10 lifetimes of wealth in 365 days.
Analyst, Palm Beach Daily
P.S. In addition to revealing his No. 1 Tech Royalty on Wednesday, Teeka’s also going to release premium research on this crypto for free to event VIPs…
But full disclosure: This valuable research is password-protected, and the password will only be given out during the event.