Tao of Charlie Munger: A Compilation of Quotes from Berkshire Hathaway's Vice Chairman on Life, Business, and the Pursuit of Wealth With Commentary by David Clark

by David Clark

Because if they are paid by the hour, they have an incentive to work more slowly in order to put more hours on the clock and make more money. But if they are paid by the job, there is an incentive to work quickly so they can get onto the next job and make more money.

“Three rules for a career: (1) Don’t sell anything you wouldn’t buy yourself; (2) Don’t work for anyone you don’t respect and admire; and (3) Work only with people you enjoy.”