Little Rules About Big Things

People have vastly different desires, except for three things: Respect, feeling useful, and control over their time. Those are nearly universal.

There are two types of information: stuff you’ll still care about in the future, and stuff that matters less and less over time. Long-term vs. expiring knowledge. It’s critical to identify which is which when you come across something new.

Read fewer forecasts and more history. Study more failures and fewer successes.

There’s more to learn from people who endured risk than those who seemingly conquered it, because the kind of skills you need to endure risk are more likely repeatable and relevant to future risks.

People learn when they’re surprised. Not when they read the right answer, or are told they’re doing it wrong, but when they experience a gap between expectations and reality.

The only way to build wealth is to have a gap between your ego and your income.