Notes

Don’t allow yourself to become just one member of the crowd; instead, try to distance yourself from the crowd as much as possible to observe what is happening, paying special attention to the suppressed thoughts and viewpoints. If a proposition is not wrong, yet it is labeled and suppressed and criticized, then there is a problem. This is because any viewpoint that is not wrong should not be suppressed from discussion. Therefore, every time you see certain words being attacked as belonging to “XX faction” or “XX ideology,” that is a clear signal that there is something wrong behind it. This is true whether it is in 1630 or 2030. When you hear someone using such labels, you must ask why. ...

Is Li Zicheng ultimately a bandit leader, or a leader of a righteous army? This question is difficult to answer. In fact, Li Zicheng has always been a capable leader of a violent power bloc. As the head of this violent faction, Li Zicheng has consistently pursued the maximization of “blood reward.” The bandits burn, kill, and plunder, seeking to maximize immediate blood reward; upon entering a city, [he] spares the populace, aiming to maximize the long-term systemic return.

The prerequisite for robbery is that there must be something to steal; the prerequisite for kidnapping and demanding ransom is that the hostage must have the financial capacity to pay the ransom. As the Law of Blood Payment states, the value of a hostage’s life is determined by the willingness and ability of the parties to pay the ransom. Under conditions of equal risk and cost, the richer the hostage, and the wealthier the target of the robbery, the higher the returns from the kidnapping and robbery. Conversely, the poorer the target of the robbery or kidnapping, the lower the returns will be. If the returns are so low that they are not worth the effort, the bandits will cease their activities.

The defense zones of the late Qing warlords frequently changed hands, implementing a policy of killing the chicken to take the eggs. The negative consequences might not necessarily fall upon oneself, and for now, strength can be bolstered. However, if they adopt a policy of raising chickens to lay eggs, they might not be able to eat the eggs in the future, and the chickens might be stolen and eaten by others. Furthermore, the current malnutrition could quickly lead to collapse. Given this situation, depleting the marsh to catch the fish—a standard bandit tactic—is the most advantageous choice.

If one could ride a time machine back to the past, no matter which era, one thing would remain unchanged: “Misfortune comes from the mouth.” You must be careful about what you say. Words that you believe are harmless can bring you great trouble. Today, saying that the Earth revolves around the Sun is utterly commonplace. However, if this were said in 17th-century Europe, it would lead to great disaster. ...

Perhaps things aren’t as coincidental as they seem. Your viewpoint might simply be something you heard from someone else; whatever others told you, you believed, and you treated those externally instilled ideas as if they were your own. Sometimes, others tell you, “You must modify your own thinking according to the needs of society (well-adjusted).” The implied meaning of this statement seems to be that if you don’t agree with society, then it must definitely be your own fault. Do you agree with this notion? In fact, it is not only incorrect, but it also causes history to regress. If you truly believe this, and dare not even think of any aspect that disagrees with society, immediately abandoning your own perspective, that is when the real problem arises.

First, we can look at what people get into trouble for saying. It must meet two conditions simultaneously. The first condition is that the words cannot be uttered; The second condition is that they are correct, or they appear likely to be correct and are worthy of further discussion. If the second condition is not met, in most cases, you won’t have any trouble. If you say that 2+2 equals 5, or that the citizens of Pittsburgh are three meters tall, nothing will happen. These obviously incorrect statements might be taken as a joke, or worse, as proof that you are crazy, but they certainly won’t annoy anyone. ...

During the mid-to-late Ming Dynasty, due to the development of society and economy and the growth of population, the demand for land among farmers increased. However, the uneven distribution of land and the heavy tax burden made it impossible for many farmers to maintain a livelihood, leading them to seek ways to improve their lives, such as settling elsewhere, migrating, or engaging in maritime commerce 12. During the mid-to-late Ming Dynasty, due to the corruption of officials and lax supervision, the management of the Yellow Registers and travel permits became chaotic and riddled with loopholes. Phenomena such as fraudulent registration, fake registration, and privately manufactured travel permits were frequently observed, causing the household registration system to lose its constraining power 12. ...

As a dynasty transitions from its middle period toward its final years, it is often accompanied by a series of characteristic changes. The following are some common examples: Political Turmoil and Power Struggles: Over time, the dynasty’s court administration often experiences instability and power struggles. Phenomena such as political corruption, unfair official appointments, and the struggle for power may intensify, leading to internal political instability and chaos. Territorial Shrinkage and Military Challenges: In its final years, the dynasty may face the issue of territorial shrinkage, losing control over certain regions. External powers may launch wars, challenging the dynasty’s territory. This can lead to the weakening of the nation’s military strength and a reduction in its territory. ...

There are multiple factors that can lead to economic decline and fiscal difficulties in the late imperial period: Malfeasance and Political Corruption of Rulers: In the late dynasty, issues of malfeasance and political corruption among rulers often intensify. Phenomena such as officials’ embezzlement, bribery, and improper appointments lead to a decline in government efficiency, making it unable to effectively manage the national finances and economy. Such corrupt practices weaken fiscal revenue, resulting in financial hardship. ...

1. Creates and delivers something of value . . 2. That other people want or need . . . 3. At a price they’re willing to pay . . . 4. In a way that satisfies the customer’s needs and expectations . . . 5. So that the business brings in enough profit to make it worthwhile for the owners to continue operation.

Every successful business creates something of value. The world is full of opportunities to make other people’s lives better in some way, and your job as a businessperson is to identify things that people don’t have enough of, then find a way to provide them.

The law of Duke Shang (Shang Jun) is that those who are punished and discarded as ash (or dust) are subject to it. The “discarded ash” refers to minor offenses, while those who are “punished” are subject to severe penalties. Yet, the Duke clearly demonstrates that he is capable of deeply supervising minor offenses. If the offenses are minor and the supervision is deep, how much more so with serious crimes? Therefore, the people dare not commit them.

Fear makes the bureaucracy more efficient, the common people more disciplined, and the ruler’s benevolence easier for people to remember, thus making the ruler safer. Machiavelli said, “It is safer to be feared than to be loved.” A ruler who does not know how to “kill to establish might” will eventually be looked down upon by the ruled. Furthermore, benevolence and tolerance are only truly cherished and praised by people when set against a backdrop of fear and severity. Therefore, a successful ruler must possess two sides: one side is the benevolence of a saint, and the other is the brutality of a lion.

As early as the Ming Dynasty, steles bearing the Six Teachings were erected at the entrances of villages and streets across the land. The content is the “Twenty-four Characters of Moral Norms” prescribed by the Ming Taizu, Zhu Yuanzhang, for the people of all under heaven: “Be filial to parents, respectful to elders, harmonious in the locality, instruct children, ensure peace for all, and avoid improper deeds.”

When you aren’t starving, nothing is an absolute necessity. Never try to catch the bottom; there might be a garage below the -18th floor, and that money isn’t yours to earn. Avoid fixed asset investment; the holding costs for heavy assets are very high. Don’t start a business; a street stall is fine, but definitely don’t register a company. Don’t engage in virtual economies or virtual currencies. Keep some emergency funds. They shouldn’t all be in RMB.

Before ascending the throne, Zhu’s forces were always the “Army of Benevolence and Righteousness,” and Zhu himself was the embodiment of the “King’s Way” (or “Virtuous Rule”). This earned him the allegiance of the people. Yet, once he secured the realm and incorporated the entire nation into his cage, he transformed from being generous and compassionate to being harsh and brutal. He raised his whip and butcher’s knife, slaughtering the world, massacring meritorious officials, and becoming a demonic king that made everyone tremble with fear. In truth, it wasn’t Zhu Yuanzhang’s nature that changed, but the circumstances. Before ascending the throne, he sought support from various social classes. After taking power, the common people had become the cattle and sheep under his care, and naturally, he was happy to command them forward with the butcher’s knife and the whip.

A person, regardless of how wicked their desires are, as long as you satisfy them, they will perceive you as good—that’s all, it’s that simple. The power of desire is immensely strong; even merely painting a picture can persuade them to do things for you!

The mistake 98% of money managers and individuals make is they feel like they have got to be playing with a bunch of of stuff. And if you really see it, put all your eggs in one basket and watch the basket very carefully.

When you accept how true that statement is, you realize that aligning money towards a life that lets you do what you want, when you want, with who you want, where you want, for as long as you want, has incredible return.