Those who really win (an industry, or in a career) did so by delaying gratification. One of the greatest competitive advantages in a startup team — or any bold new project or turnaround — is simply sticking together long enough to figure it out. This is hard because our natural human tendency is to crave short-term rewards and seek short-cuts to... See more
I just talked to a founder whose startup is growing "only" 25% a year and thus felt he needed to get bought. I explained that if he did, he'd need to find somewhere to invest the proceeds, and he'd be unlikely to find any investments that grew at 25% a year.
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 best tech companies drive strategy through product. This is why founders and CEOs tend to be product leaders, and product / design / engineering is more important than ops / marketing / finance. Here’s what this looked like for me as a business leader at Amzn and Facebook: