Lucky vs. Repeatable
Your character and your reputation are things you can build, which will let you take advantage of opportunities other people may characterize as lucky, but you know it wasn’t luck. [78] My co-founder Nivi said, “In a long-term game, it seems that everybody is making each other rich. And in a short-term game, it seems like everybody is making themse
... See moreTim Ferriss • The Almanack of Naval Ravikant: A Guide to Wealth and Happiness
A lot of poor decisions are made by misjudging the type of opportunity or risk involved.
There are BETS, which are based on the probability of an outcome; and there are SAVINGS, which are based on steady accumulation.
A lot of people make bets when they should be accumulating: trying to go viral instead of building trust, looking for the next big tre
... See moreIn 1,000 parallel universes, you want to be wealthy in 999 of them. You don’t want to be wealthy in the fifty of them where you got lucky, so we want to factor luck out of it.
Tim Ferriss • The Almanack of Naval Ravikant: A Guide to Wealth and Happiness
