Sublime

Founders should decide how much to raise based on how much money they need to reach the next set of milestones. Startups have many layers of risk stacked on top of each other. Leo Polovets, managing partner at Susa Ventures, calls startups a “bundle of risk.”6 These risk layers could be as broad as “product risk,” but ideally the risk layers should

Make bigger bets on high-risk, high-reward R&D projects. It’s not just a question of how much governments spend. What they spend it on matters too.

Poor Charlie’s Almanack is a good start. It describes how to make good decisions in any situation with a relatively limited mental toolkit: the big, enduring ideas of the fundamental academic disciplines. Virtually everyone is exposed to these concepts by high school, but few people truly master them or apply them in everyday life. In my experience

1. Productivity

— in less than 15 minutes.

Understand nature’s practical lessons.