If a business earns 18% on capital over 20 or 30 years, even if you pay an expensive looking price, you'll end up with a fine result.
CHARLIE MUNGER
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If your job is not aligned with your values, you'll end up questioning the possibility of doing it for the next 15, 20, or 30 years.
The good part about it is the fact that this will point you in the right direction, where changes need to be made.
Efficiency > Capital
- PaintNite: While their competitors relied on a slow, expensive franchise sales model, PaintNite paired art teachers with existing bars that wanted to sell wine on weekdays and created a business that did $30 million in revenue the year before it raised venture capital.
Big-Picture and Fine-Grained Detailed
A dimension in measuring productivity is looking at the big picture or fine-grained details.
- The big picture: Looking back over the years, how much difference did it make?
- Fine-grained means adding up the hours worked, which gives an immedia...
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