14 more ideas from Buffett and Munger I don’t want to forget:
1. The one thing that has surprised me all my life is how many people with high IQs do massively stupid things.
2. Berkshire was a small business at one time. It just takes time. It is the nature of compound interest. You can't... See more
After years of floundering, I think I'm finally getting it: You get energy by spending it. The fuel tank metaphor is completely misleading. The body supplies energy to meet demand. The tank *expands* if you use a lot of fuel. In other words, biology is fundamentally antifragile
The good stuff is always lonely in the beginning. Nothing meaningful will get made if its potential makers all wimp out too soon, because they get scared by the sparse crowd, the empty room.
Lesson #1: Great Products Expand Markets Taylor Swift moved to Nashville at 13 and went door-to-door to record labels. They all turned her down. Labels saw country music on the decline with young listeners, and didn't see a market for a teen country artist.