Building Wealth¶

Hard work matters but it has to be directed in the right direction: know what to do, how to do it and with who.

Wealth is assets that earn while you sleep.

Fortunes require leverage. Business leverage comes from capital, people, and products with no marginal cost of replication (code and media).

Code is the most powerful permissionless leverage.

Set and enforce an aspirational personal hourly rate.

Figure out which things you can provide for society that it does not yet know how to get.

Escape competition by authenticity.

You can only achieve mastery in one or two things. something you're obsessed about and that you can iterate over everyday.

Find the 1% of your discipline that won't be wasted, where you can invest trough all your life, go all-in and leave out the rest.

If you don't own equities in a business, you're chances of making good money is very slim.

Don't look at jobs where input and output are highly connected. That won't create wealth.

Search for, or create, positive sum wealth games.
- YT FEE - wealth isn't zero sum game
- investopedia game theory

Do it for the sake of it, not for money. Id you love money and you make it, that's never enough.

Networking at all costs is bullshit. Do your craft, practice your craft and the Right people will come to you.

Keep doing it. don't keep track. don't count. have a lot of patience.

Building judgement¶

https://navalsarchive.substack.com/p/cynicism-is-easy-mimicry-is-easy

wisdom is knowing the long-term consequences of your actions. Wisdom applied to external problems is judgment

the moment of suffering—when you’re in pain—is a moment of truth. It is a moment where you’re forced to embrace reality the way it actually is

To be honest speak wothout identity. Do not self-identify in anything.

Almost all biases are time-saving heuristics. For important decisions, discard memory and identity, and focus on the problem.

Avoid being dishonest. Once you get used to it you'll start believing your own lies. Your idea of reality will be more and more distant from the truth.

Praise specifically, criticize generically.

the more you know the less you diversify.

Being successful means being more able to avoid mistakes than being always correct. learn the basics very well and practice them everyday looking for a feedback.

Requisites:
- microeconomics
- principal-agent problem
- compound interest
- game theory
- critical-thinking
- complex systems
- Statistics

if you can't decide, if you're making a list of pro vs cons, the answer is no.

when you can choose between two similar paths, choose the one more painful in the short term. Look for compound interests gain in the long term.

flowchart
    n1["😁 Happiness"]
    n1 -- Continuous learning<br>Exercising<br>Diet --- n4["🧘‍♂️ Health "]
    n4 -- Authenticity <br>Permissionless leverage<br>Mastery --- n2["💰 Wealth"]
    n2 -.- n3@{ shape: "diam", label: "do you<br>love money?" }
    n3 -. no .-n5@{ shape: "diam", label: "do you<br>measure everything?" }
    n5 -. no .-n1
    style n1 stroke-width:2px
    style n2 stroke-width:1px,stroke

Happiness¶

Happiness is not about positive or negative thoughts. It is about the absence of desire.

Reality is neutral. Reality has no judgements.

Memory and identity are burdens of the past preventing us from living freely the present.

Enlightenment is the space between your thoughts.

You locally reverse entropy. That's why you're here.

Desire is a contract that makes you unhappy until you get what you want. -> and then it will move on the next thing.

You have to lives. The second one begins when you understand you only have one. Confucius.

Peaceful successful people have such self-control and self-awareness to not need anything from anyone.

In front of a new challenge or delusion you always have three choices:
1. You accept it
2. You try to change it
3. or you can leave it
Accept and move fast forward. Life is short.

Listen and absorb. Don't emulate.

We evolved in scarcity but live in abundance. This is why is so important to always say no.

Workout everyday. Whatever it works for you.

In every moment you should be taking a new good habit or removing a bad one.

All benefits come from compound interests: relationships, money, health and habits.

Inspiration is perishable, act immediately.

Meditation¶

Too much sugar lead to a heavy body.
Too many distractions lead to a heavy mind.

The more you judge, the more you separate yourself from reality.

Remove 95% of the noise from your brain, is useless in general or is useless in that moment.

Turn off society and listen to yourself.

If you're not spending time doing what you want, learning or earning, you're throwing your life.

The mind should be a servant and a tool, not the master.

Personal comments¶

Anger is a precursor to violence.
what about grit and stress discharge? Anger can have important effect too.