Especially in business, if something isn't going well, I try to acknowledge it publicly and I try to acknowledge it publicly in front of my co-founders and friends and co-workers. Then, I'm not hiding it from anybody else. If I'm not hiding it from anybody, I'm not going to delude myself from what's actually going on.

We waste our time with short-term thinking and busywork. Warren Buffett spends a year deciding and a day acting. That act lasts decades.

"Escape competition through authenticity." Basically, when you're competing with people, it's because you're copying them. It's because you're trying to do the same thing. But every human is different. Don't copy. 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 ownership versus wage work. If you are paid for renting out your time, even lawyers and doctors, you can make some money, but you're not going to make the money gives you financial freedom. You're not going to have passive income where a business is earning for you while you are on that vacation. 

Happiness is there when you remove the sense of something missing in your life. 

Specific knowledge is knowledge you cannot be trained for. If society can train you, it can train someone else and replace you. 

A personal metric: how much of the day is spent doing things out of obligation rather than out of interest? 

The developer takes on more risk, more accountability, has more leverage, and needs to have more specific knowledge. They need to understand fundraising, city regulations, where the real estate market is headed, and whether they should take the risk or not. It is more difficult. 

Reading science, math, and philosophy one hour per day will likely put you at the upper echelon of human success within seven years.