Thread by @jmikolay

Soak in the world of @SahilBloom

I organized and distilled his educational threads into a summary of big ideas

What he’s taught us about how to think, errors to avoid, and personal growth:

In a world of copycat solutions, rejecting base level assumptions is key to achieving non-linear outcomes.

Rejecting assumptions leads to first principles thinking. First principles thinking leads to creative solutions. And creative solutions lead to non-linear outcomes.

Together, making assumptions and reasoning by analogy lead to unimaginative, linear solutions that resemble all that’s been done before.

Refuse to accept "truths" you’ve been told.

Instead, question anything and everything.

Become an endlessly curious child again. Ask why!

Four questions to ground yourself in truths:

🔷How do I know this is true?
🔷Why do I believe this to be true?
🔷How can I support this belief?
🔷What alternative viewpoints might exist?

Think you know something?

Adopt second-order thinking.

Challenge yourself, your reasoning, and your assumptions; deeply examine second, third, and Nth-order effects; consider multiple layers of implications and consequences.

Why does becoming a second-order thinker give you asymmetric opportunities?

Because it’s hard to do. Hence, few people do it.

Most people are uncomfortable saying, "I don't know."

Reverse that.

The more comfortable you get with, “I don’t know,” the more successful you’ll be.

All growth - in your career, startup, business, or life - starts with a single moment of curiosity.

Is there a new topic you’re excited about?

Read everything you can get your hands on. Seek out thought leaders, ask them questions, read their articles, listen to them speak.

There are no “hacks” or “shortcuts” to achieving growth.

They simply don’t exist.

Growth is only achieved through consistent, focused, relentless effort.

Your Circle of Competence is the set of topic areas that align with your expertise.

Be ruthlessly honest with yourself about your circle and its boundaries.

Hint: it's usually smaller than you think.

Your Circle of Competence is dynamic.

It’s built over time through experience, reading, dedicated study, and effort.

It can expand as you deepen your knowledge in new areas, and it can contract if you fail to nurture your existing areas of expertise.

Survivorship bias is the logical error of focusing on successes and ignoring failures.

Misunderstanding the probability of success leads to flawed conclusions. And exclusively focusing on your own successes inhibits your ability to replicate what led to them in the first place.

Study companies and people who've succeeded.

Study companies and people who've failed.

Know the "seen" and the "unseen" are equally important in guiding decisions.

To survive in a dangerous world, humans tend to seek more information (because we think it gives us more signal).

Paradoxically, though, more info can increase our noise-to-signal ratio, leaving us worse off, less knowledgeable, and more likely to make poor decisions.

To make better decisions, accumulate more signal AND less noise at the same time.

Your annual reminder:

"Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn't, pays it." -Albert Einstein

The simplest way to build long-term wealth is to put money in a market index fund and allow it to compound.

The foundational rule for success in business, investing, startups, content creation, or life:

Create value, receive value.

The most valuable asset in the world is trusted distribution.

To succeed in your career, startup, content creation, or life:

Step 1: Build great product
Step 2: Hustle for distribution

A minute of being yourself is more fulfilling than a lifetime of pretending.

🙌 That's it!

Thanks, Sahil, for what you share

If you enjoyed this, follow me @jmikolay for more big idea summaries and threads about the creative process