If I could force first time entrepreneurs to read one thing before starting a business, it would be this:
1/ “There’s a rule of fishing that’s a very good rule. And the first rule of fishing is: fish where the fish are. The second rule of fishing is ‘don’t forget the first rule
1/ “There’s a rule of fishing that’s a very good rule. And the first rule of fishing is: fish where the fish are. The second rule of fishing is ‘don’t forget the first rule
2/ "Investing is the same thing. And some places have lots of fish and you don’t have to be that good of a fisherman to do pretty well. Other places are so heavily fished that no matter how good a fisherman you are, you aren’t going to do very well.”
–Charlie Munger
–Charlie Munger
3/ Why fish from an over-fished spot where 100 other fisherman are constantly elbowing you out of the way. Current examples: blockchain, AI, marijuana, self-driving cars, etc.
Find the stinky, boring corners of the internet. What was hot 10 years ago that is overlooked today?
Find the stinky, boring corners of the internet. What was hot 10 years ago that is overlooked today?
