Dig one pit and ask if you’ll jump; you say no. If two pits are dug, and asked which one to jump—the big one or the small one—you will most likely jump into the small one.
Under conditions of information asymmetry, the outcome of the game is not determined by the players themselves, but by what they believe others are thinking.
If your perceived foolishness makes the other party willing to cooperate with you, why wouldn’t you be happy about it?
No matter how hard you try, you can only achieve average profit levels. +++
Avoid negative-sum games, play fewer zero-sum games, and engage in more positive-sum games. +++
We need to understand the difference between receiving equity returns and earning salary compensation. If you are compensated by renting out your time, even if you work in high-paying professions like law or medicine, the compensation you receive will be very limited, insufficient to allow you to achieve financial freedom. However, if you own corporate equity, you can receive passive income—meaning the company keeps making money for you even when you are on vacation. ...
Tasks such as programming, writing books, recording podcasts, posting on Twitter, and shooting videos do not require permission from anyone. It is evident from this that the new leverage acts like an equalizer, greatly narrowing the gap between people and making society more equitable. [78] For instance, every talented software developer now has a large group of robots working for them. Once the code is written, these robots begin working, earning money for the developer even while they sleep. [78] Relying solely on selling one’s own time can never lead to wealth.
The less desire you have for something, the fewer worries and obsessions you will carry. Instead, you are more likely to go with the flow and follow your inner self. You will continue doing it unwaveringly in your own skilled way, and the quality of your work will improve as a result.
Without incorporating personal experience, tweets can sound like a collection of inspirational platitudes (or “chicken soup”), offering wonderful content that momentarily inspires you. You might even turn them into beautiful posters to motivate yourself constantly. But it’s highly likely that after a while, you’ll forget them and continue living your routine life. What are called “mental models” are essentially simple methods that help you retrieve the knowledge you have learned.
Stop dividing people into rich and poor, or white-collar and blue-collar. The modern dichotomy is between “those who utilize leverage” and “those who do not utilize leverage.”
When a new need emerges, and you happen to be the sole person with the relevant skill set, it’s time to shine. During this period, you can build your personal brand on Twitter and YouTube (the video platform) by offering your products or services for free. While this process may involve certain risks and losses, you will have built a personal brand and gained significant reputation. When the opportunity arises, you can maximize the leverage effect to scale up the products or services you provide.
Decision is everything. In fact, a person with an 80% decision accuracy rate is hundreds of times more valuable in the market and yields hundreds of times higher returns than a person with a 70% accuracy rate.
So, the harm done to you is the result of the other party’s repeated deliberation.
The first type is labor leverage, which means having others work for you. Labor leverage is one of the oldest forms of leverage, but in modern society, its effectiveness is not the best. [1] I even believe it is the most outdated form of leverage. This is because managing other people is an extremely complex and challenging job that requires superb leadership skills. If done poorly, the manager might end up ostracized and devoured by their subordinates. ...
Knowledge everyone can acquire won’t make you rich. Any skill that can be mass-trained is an employable skill. Only what you learn yourself is a unique ability that belongs to you, and that is what can lead to successful entrepreneurship.
This happened in the past, so it will happen in the future.
A major goal of life should be mastering one’s own time. The ideal job is work that utilizes the leverage effect. In this work model, you can control your own time and be responsible for your own output and results. If you bring game-changing opportunities to a company by providing excellent solutions, you are guaranteed financial returns. Especially, if others don’t even know how you achieved it, they must continuously pay you, allowing you to keep providing that product or service. And the reason you can achieve this is because of your obsession, skills, or talent.
Regardless of the stage of life one is in, the goal of striving is always to continuously improve one’s independence, rather than seeking promotion and salary increases. Possessing this independence—being responsible for one’s unique output and results (instead of merely being responsible for the time invested, as is common for an employee)—is the most ideal state.
If someone uses ornate language and habitually discusses grand and complex concepts, they likely don’t understand what they are talking about.
Retirement is no longer sacrificing today for an imagined tomorrow. When you can live in the present and spend every day with inner fulfillment, you have reached the state of retirement.