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Why happiness is the ultimate goal
The importance of creating value
How to create wealth in the modern era
When you’re negotiating with other people, ultimately if someone else is making a decision about how to compensate you, that decision will be based on how replaceable you are. If you have high accountability, that makes you less replaceable.
If you look at the hierarchy of capital in a company, the employees get paid first. The equity holders get paid last and take on greater risk but in exchange, they get the nearly unlimited upside.
When every member of a team can take on accountability for their portion you get a well-functioning team.
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And doing something new the first time is painful because you’re wandering into an uncertain territory and high odds are that you will fail. So you just have to get very, very comfortable with frequent small failures.
Nassim Taleb made his fortune, his wealth by being a trader who basically...
If you understand them, then you have the basis for understanding the scientific method. Once you understand the scientific method, you can understand how to separate truth from falsehood in other fields and things you’re reading.
It’s better to go through a book really slowly and struggle ...
You should be able to pick up any book in the library and read it.
Start off just reading wherever you are and then keep building up from there until reading becomes a habit.
Take your natural path and just read the things that interest you until you kind of understand them.
It’s not the means of education or the means of learning are scarce, the means of learning are abundant. It’s the desire to learn that’s scarce.
If you can do both, you will be unstoppable.
That’s when you get true superpowers. That’s when you get people who can create entire industries.
A living example is Elon Musk. He may not necessarily be building the rockets himself, but he understands enough that he actually makes techn...
Some of the things taught in business school are just anecdotes (case studies). They’re trying to help you pattern match by throwing lots of data points at you, but the reality is, you will never understand them fully until you’re actually in that position yourself.
Doing is faster than wa...
Embrace accountability and take business risks under your own name. Society will reward you with responsibility, equity, and leverage.
if you look at a Kanye or Elon or anyone like that, these people can get rich just off their name.
A well-functioning team has clear accountability fo...
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