Post by Arch Hoffman

Why the Golden Age of Baghdad explains your RSU concentration risk. In 786 AD, during the height of the Abbasid Caliphate, Baghdad was the wealthiest city on earth. It was the Silicon Valley of its time, a hub of innovation, infinite liquidity, and rapid expansion. Merchants and scholars believed the surplus would last forever. They made one critical mistake: They confused current flow with permanent architecture. I see this constantly with Tech Executives in San Francisco. You are living in your own personal Golden Age. Your deferred compensation plans are robust; your RSU grants are refreshing annually. The flow feels infinite. But wealth isn’t measured by what comes in during the golden years; it is measured by what remains when the cycle turns. If 80% of your net worth is tied to the success of a single company, you aren't building an empire; you’re gambling on a dynasty. My job isn't just to manage your money. It’s to ensure your personal Golden Age survives the inevitable turning of the tide. Let’s build the architecture.