What is money?
If I do my job right, if I create value for society, society says, “Oh, thank you. We owe you something in the future for the work you did in the past. Here’s a little IOU. Let’s call that money.”
If I do my job right, if I create value for society, society says, “Oh, thank you. We owe you something in the future for the work you did in the past. Here’s a little IOU. Let’s call that money.”
Compound interest is a very powerful concept. Compound interest applies to more than just compounding capital. Compounding capital is just the beginning. Compound interest also happens in your reputation. If you have a sterling reputation and you keep building it for decades upon decades, people will notice. Your reputation will literally end up being thousands or tens of thousands of times more valuable than somebody else who was very talented but is not keeping the compound interest in reputation going. ...
Wealth is the thing you want. Wealth is the factory, the robots, cranking out things. Wealth is the computer program that’s running at night, serving other customers. Wealth is even money in the bank that is being reinvested into other assets, and into other businesses. Even a house can be a form of wealth, because you can rent it out, although that’s probably a lower productivity use of land than some commercial enterprise. So, my definition of wealth is much more businesses and assets that can earn while you sleep. ...
because it’s very hard to identify what the 1 percent is. What I’m saying is: when you find the 1 percent of your discipline which will not be wasted, which you’ll be able to invest in for the rest of your life and has meaning toyou—go all-in and forget about the rest.
Embrace accountability and take business risks under your own name. Society will reward you with responsibility, equity, and leverage.
Leverage comes in labor, comes in capital, or it can come through code or media.
Clear accountability is important. Without accountability, you don’t have incentives. Without accountability, you can’t build credibility. But you take risks. You risk failure. You risk humiliation. You risk failure under your own name. 如果你说同学们帮我擦黑板,那么就不会有人擦
There’s not really that much to fear in terms of failure, and so people should take on a lot more accountability than they do.
In an investment firm, they’re buying equity. These are the routes to wealth. It doesn’t come through the hours.
I only really want to do things for their own sake. That is one definition of art. Whether it’s business, exercise, romance, friendship, whatever, I think the meaning of life is to do things for their own sake. Ironically, when you do things for their own sake, you create your best work. Even if you’re just trying to make money, you will actually be the most successful. ...
Mental models are concepts that represent your understanding of how something in the world works. Think of driving a car: What do you expect when you press down on the right-side pedal? If the car slows down, you’ll be surprised—that pedal is supposed to be the accelerator. The accuracy of your model of the world determines your expectations, decisions, behavior, and—in the long run—your results. ...
You should to know the problem exactly.
There is a difference between (A) what an MBA does to help you prove your abilities to others . (B) what getting an MBA actually does to improve your abilities. They are two different things.
Make something people want . . . There’s nothing more valuable than an unmet need that is just becoming fixable. If you find something broken that you can fix for a lot of people, you’ve found a gold mine.
It’s not really about hard work. You can work in a restaurant eighty hours a week, and you’re not going to get rich. Getting rich is about knowing what to do, who to do it with, and when to do it. It is much more about understanding than purely hard work. Yes, hard work matters, and you can’t skimp on it. But it has to be directed in the right way. ...
这是从小被标准答案教育出来的结果。 教授讲懦夫博弈时,明明已经有公式有数学 ,但他们还是不敢思考能不能放开枪支管制
还没做,就已经想好了退路。 通常不能试验,你只有两个选择——做或者不做。 如果抱着试试看的心态做事,大概率以失败告终。
某个潜在损失越重要,我们对损失的厌恶也就越强烈。换句话说,所处情境越危险,我们越容易很快作出非理性的决定。
挖个坑问你跳不跳,你说不跳。 如果挖两个坑,问你跳哪个,大的还是小的,你多半会跳那个小的。
阿 Q 是一个典型的小人物,他身份卑微,生活在清末民初的农村社会中。鲁迅通过描写阿 Q 的形象和遭遇,表达了对当时中国社会的批判和对平民百姓命运的关注。 ...