#3 / On Projects and Companies, Being Rich, Exiting Twitter, and more.
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My goal is to continue to provide you with a hand-picked selection of ideas, books, and thought-provoking stuff to read, watch, and listen, but also mix in other compelling, inspirational, and fun material. I'm excited to try out a few ideas and hope I can count on your continuous support!
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Read, Listen, Watch
“All of these were ideas that seemed bad but turned out to be good, and this is the magic formula for major success. But in the rush to claim a company, they could have been lost. The pressure from external (and internal) expectations is constant and subtle, and it often kills the magic ideas. Great companies often start as projects.” Read more
I have been researching a lot about blockchain recently and from that I found this incredible gem.
“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.” Read more
This is the best resource to understand how to generate wealth. Some Key takeaways:
The most important skill for getting rich is becoming a perpetual learner. You have to know how to learn anything you want to learn. It’s much more important today to be able to become an expert in a brand-new field in nine to twelve months than to have studied the “right” thing a long time ago.
The most interesting and the most important form of leverage is the idea of products that have no marginal cost of replication. This is the new form of leverage. Now, you can multiply your efforts without involving other humans and without needing money from other humans.
Coding, writing books, recording podcasts, tweeting, YouTubing—these kinds of things are permission-less. You don’t need anyone’s permission to do them, and that’s why they are very egalitarian. They’re great equalizers of leverage.
My favorite point: Fire fast. “You will not get 100% of your hires right. When it’s obviously not working, it’s unlikely to start working. It’s better for everyone involved to part ways quickly, instead of hanging on to unrealistic dreams that it’s going to get better.” Read more
Set up your own paid newsletter at a custom domain. Then start networking them together into decentralized media. Read more
“Most startups that raise money do it more than once. A typical trajectory might be to get started with a few tens of thousands from something like Y Combinator or individual angels, then raise a few hundred thousand to a few million to build the company, and then once the company is clearly succeeding, raise one or more later rounds to accelerate growth.” Read more
Overheard on Twitter
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