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"It was unsettling to hear Buffett repeatedly say 'I don’t know.'" Andrew Sorkin

news.google.com/articles/CAIiE…

It may be unsettling, but its often the truth even in normal times. That is "circle of competence" thinking.

What is unsettling to me are people who say they know and don't
"I get rid of people who always confidently answer questions about which they don't have any real knowledge. Nobody expects you to know everything about everything. When you don't know and you don't have any special competence, don't be afraid to say so." google.com/amp/s/www.cnbc…
"It's highly likely people who confidently think they know the consequences – none of whom predicted this – now they know what’s going to happen next? Again, the witch doctors. You ask me what’s going to happen? Hell, I don’t know what’s going to happen." google.com/amp/s/www.forb…
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More from @trengriffin see all

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Tren Griffin
@trengriffin
It's surprising how Quibi has had trouble filling the top of the sales funnel and converting users to paid given how much viral content and positive word of mouth you see on Twitter. Wait! That's not true.

Does Quibi have a premature scaling problem?

a16z.com/2017/02/18/12-…
Spending capital on growth before you have a product that people want to buy (AKA premature scaling) is a giant bonfire of cash. Andy Rachleff puts it this way: “If you don’t have exponential word of mouth growth, you don’t have product/market fit.” First nail it, then scale it.
Long time Netflix board member and 🐐 entrepreneur Rich Barton: "If you really have a flywheel, it is OK to spend money to get it spinning. It is OK to do un-economic things to hand-crank stuff, so long as once it is spinning you can take your hand away.” No flywheel? CAC kills!
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Tren Griffin
@trengriffin
Chauncey: As long as the roots are not severed, all is well. And all will be well in the garden.

President: In the garden.

Chauncey: In the garden, growth has it seasons. First comes spring and summer, but then we have fall and winter. And then we get spring and summer again.
Rand: I think what our insightful young friend is saying is that we welcome the inevitable seasons of nature, but we’re upset by the seasons of our economy.

Chauncey: Yes!

President: That is one of the most refreshing and optimistic statements I’ve heard in a very long time.
FRANKLIN:
(puzzled)
It's that gardener!

JOHANNA:
Yes, Chauncey Gardiner.

FRANKLIN:
No! He's a real gardener!

JOHANNA:
(laughs)
He does talk like on, but I
think he's brilliant.

From the novel "Being There" by Jerzy Kosinski

dailyscript.com/scripts/being_…
Read 3 tweets
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Tren Griffin
@trengriffin
1/ Graduating seniors deserve a Charlie Munger Tweetstorm with appropriate life advice to mark the occasion.

"I want you to learn as much as you can vicariously. It’s too painful to do it by personal hardship. “You don't have to pee on an electric fence to learn not to do it”
2/ “Being a prodigy is hard. I'm not trying to be a prodigy, I'm just trying to avoid the inanities, including the inanities of the prodigies! That enables a person of moderate abilities and moderate work habits to get so much more than their logical deserts.” Charlie Munger
3/ “I'm talking about very simple ideas of just figuring out the standard stupidities and avoiding them. I actually collect them! Some people collect stamps. I collect insanities and absurdities.” And then I avoid them, and it's amazing how well it works." Charlie Munger
Read 19 tweets

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