While far from old and wise, I have learned a few things along the way - on life, business, writing, investing, and growth.
Here are a few important lessons learned...
Embrace Failure
Put simply, failure leads to growth.
Do not hide from failure. Seek it out. Allow yourself to be uncomfortable. Embrace it.
The most transformative moments in your life will always come from failures.
Stand on the Shoulders of Giants
As Isaac Newton famously wrote, “If I have seen further, it is by standing on the shoulders of giants.”
You will only go as far as you can see.
Seek out mentors who champion your cause and empower you to see further.
Prioritize People
Everything in life comes down to people and relationships.
Networks compound as well as any financial investment.
Build an army that is deep and wide.
Cultivate deep relationships, but also learn to appreciate the power of weak ties.
Give > Receive
Focus on what you can do for others, not what they can do for you.
Give more than you receive.
This mentality will lead to more success and growth, but also to more fulfillment and joy.
Play the Long Game
“Play long-term games with long-term people.” - @naval
The greatest riches in life - personal or professional - come from compound interest.
But it takes time. Lots of time.
So always play the long game. Let the magical power of compounding work for you.
Closed Mouths Don’t Get Fed
A little push goes a long way.
Don't sit back and wait for good things to happen.
If you want something (and you’ve put in the work for it), go ask for it.
Worst case - you’re told no and nothing has changed.
Best case - it’s yours.
Pay It Forward
No matter how far you go, realize that you didn’t make it on your own.
So pay it forward.
Be a mentor. Be a champion for others.
Their growth should become a source of tremendous joy and pride.
Those are a few of the most important lessons I’ve learned along the way. I hope they are helpful for you on your journey!
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The concept of network effects is a powerful mental model through which to evaluate businesses, startups, money, human societies, and nature.
But what are “network effects” and how do they work?
Here's Network Effects 101!
First, a few definitions.
A network effect is a phenomenon by which each incremental user of a product or service adds value to the existing user base.
The product or service becomes more valuable to the users as more people use it.
It is a positive feedback loop.
The idea originated with Theodore Vail, the president of American Telephone and Telegraph (AT&T).
In the company's 1908 annual report, Vail wrote, "[The telephone's] value depends on the connection with the other telephones — and increases with the number of connections."
The Feynman Technique is a foundational mental model for unlocking growth in your career, startup, business, or writing.
A thread on how it works and how it can change your life...
Richard Feynman was an American theoretical physicist.
He won the Nobel Prize in Physics in 1965 for his groundbreaking work in quantum electrodynamics.
Feynman's true genius, however, was in his ability to convey extremely complex ideas in simple, digestible ways.
Richard Feynman observed that complexity and jargon are often used to mask a lack of deep understanding.
The Feynman Technique is a learning framework that forces you to strip away needless complexity and develop a deep, elegant understanding of a given topic.
THREAD: The story of the week in finance is how a group of retail traders at @wallstreetbets, with assists from @ElonMusk and @Chamath, took down the establishment short sellers at GameStop.
A thread on the underlying mechanics of the $GME saga...
1/ First, for those unfamiliar with the business, GameStop is a videogame and merchandise retailer.
It has >5,000 stores, primarily in malls, across North America, Europe, and Australia.
The business has struggled to modernize, hurting its financial and stock performance.
2/ For a variety of business reasons, a bull (i.e. optimistic) case regarding its future performance has formed.
It really came to the forefront after RC Ventures, an entity managed by Chewy founder @ryancohen, disclosed a large position and assumed three board seats.