Windy, wet and cold…
- Week of 11-17 June.
- Kinda weird week, over before it started.
- Monday, audio book listening school run, gym, a walk with Alan around Stellenbosch – got a cap, office, sunset audio book listening walk, general tinkering and tea, some reading about small towns, in bed early.
- Tuesday, published a blog post, walked to the office, catch up with Kenny and Nick, Sababa lunch, catch up with Nigel, catch up with Roelf at Strolla, ribs special at Van Hunks with Georg and Chris.
- Wednesday, office, Sababa lunch, after work catch up with Nick and Michael at Nu, dinner at 91 with Heleen.
- Time in REM sleep heals all emotional wounds.
- Thursday, rainy and windy day, worked from home, Sabada lunch with Heleen, cooked some mexican food.
- School should start later, 08:30 or 09:00.
- Friday, office, dev meeting, after work drink on the roof, pizza at Da Vinci’s with Heleen, watched some Soccer World Cup at Harvey’s.
- Saturday, tea, backups, gym, Green Point Park walk, nap, watched the rugby at Rockpool with Georg, Harvey’s.
- Sunday, rainy day, breakfast at Clark’s with Heleen, random reading and tinkering, cold and windy sunset walk – mostly because I needed two photos for this week’s blog post.
- No time well spent this week, sadly.
- This is gold! Read it twice. How to Get Rich
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 that ethical wealth creation is possible. If you secretly despise wealth, it will elude you. Ignore people playing status 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. Pick an industry where you can play long term games with long term people.
The Internet has massively broadened the possible space of careers. Most people haven’t figured this out yet. 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. Don’t partner with cynics and pessimists. Their beliefs are self-fulfilling.
Learn to sell. Learn to build. If you can do both, you will be unstoppable.
Arm yourself with specific knowledge, accountability, and leverage. Specific knowledge is knowledge that you cannot be trained for. If society can train you, it can train someone else, and replace you. Specific knowledge is found by pursuing your genuine curiosity and passion rather than whatever is hot right now. Building specific knowledge will feel like play to you but will look like work to others. When specific knowledge is taught, it’s through apprenticeships, not schools. Specific knowledge is often highly technical or creative. It cannot be outsourced or automated.
Fortunes require leverage. Business leverage comes from capital, people, and products with no marginal cost of replication (code and media).
Capital means money. To raise money, apply your specific knowledge, with accountability, and show resulting good judgment. Labour means people working for you. It’s the oldest and most fought-over form of leverage. Labour leverage will impress your parents, but don’t waste your life chasing it. Capital and labour are permissioned leverage. Everyone is chasing capital, but someone has to give it to you. Everyone is trying to lead, but someone has to follow you. Code and media are permissionless leverage. They’re the leverage behind the newly rich. You can create software and media that works for you while you sleep. An army of robots is freely available – it’s just packed in data centres for heat and space efficiency. Use it. If you can’t code, write books and blogs, record videos and podcasts. Leverage is a force multiplier for your judgement.
Judgement requires experience, but can be built faster by learning foundational skills. There is no skill called “business”. Avoid business magazines and business classes. Study microeconomics, game theory, psychology, persuasion, ethics, mathematics, and computers. Reading is faster than listening. Doing is faster than watching. You should be too busy to “do coffee,” while still keeping an uncluttered calendar.
Become the best in the world at what you do. Keep redefining what you do until this is true. Apply specific knowledge, with leverage, and eventually you will get what you deserve. When you’re finally wealthy, you’ll realize that it wasn’t what you were seeking in the first place. But that’s for another day.
Have a fun week, crazy kids.