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May 15 - May 19, 2023
Getting rich is about knowing what to do, who to do it with, and when to do it.
Seek wealth, not money or status. Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth. Status is your place in the social hierarchy.
Understand ethical wealth creation is possible. If you secretly despise wealth, it will elude you.
Ignore people playing status games. They gain status by attacking people playing wealth creation games.
You’re not going to get rich renting out your time. You must own equity—a piece of a business—to gain your financial freedom.
You will get rich by giving society what it wants but does not yet know how to get. At scale.
Play iterated games. All the returns in life, whether in wealth, relationships, or knowledge, come from compound interest.
Pick business partners with high intelligence, energy, and, above all, integrity.
Learn to sell. Learn to build. If you can do both, you will be unstoppable.
Specific knowledge is found by pursuing your genuine curiosity and passion rather than whatever is hot right now.
Study microeconomics, game theory, psychology, persuasion, ethics, mathematics, and computers.
Become the best in the world at what you do. Keep redefining what you do until this is true.
The most important skill for getting rich is becoming a perpetual learner.
If they can train you to do it, then eventually they will train a computer to do it.
Retirement is when you stop sacrificing today for an imaginary tomorrow. When today is complete, in and of itself, you’re retired.
If you cannot decide, the answer is no. And the reason is, modern society is full of options.
Don’t take yourself so seriously. You’re just a monkey with a plan.
The fundamental delusion: There is something out there that will make me happy and fulfilled forever.
Desire is a contract you make with yourself to be unhappy until you get what you want.
When working, surround yourself with people more successful than you.
When playing, surround yourself with people happier than you.
“Stop asking why and start saying wow.”
You’re going to die one day, and none of this is going to matter. So enjoy yourself. Do something positive. Project some love. Make someone happy. Laugh a little bit. Appreciate the moment. And do your work. [8]
Impatience with actions, patience with results.
If there’s something you want to do later, do it now. There is no “later.”
For self-improvement without self-discipline, update your self-image.
What kind of silly God judges you for eternity based on some small period of time here? I think after this life, it’s very much like before you were born. Remember that? It’s going to be just like that.
As investor Charlie Munger says, “To find a worthy mate, be worthy of a worthy mate.” [4]
It’s statistically likely there are more advanced alien civilizations out there. Hopefully, they’re good environmentalists and find us cute.
