BC LIFE
Saved by @zmbnski

1/ Some initial thoughts on personal moats:

Like company moats, your personal moat should be a competitive advantage that is not only durable—it should also compound over time.

Characteristics of a personal moat below:

 2/ Like a company moat, you want to build career capital while you sleep.

As Andrew Chen noted: https://t.co/GClupyMUO6
3/ You don’t want to build a competitive advantage that is fleeting or that will get commoditized

Things that might get commoditized over time (some longer than others):

https://t.co/SgrfSnriHr
4/ Before the arrival of recorded music, what used to be scarce was the actual music itself — required an in-person artist.

After recorded music, the music itself became abundant and what became scarce was curation, distribution, and self space.
5/ Similarly, in careers, what used to be (more) scarce were things like ideas, money, and exclusive relationships.

In the internet economy, what has become scarce are things like specific knowledge, rare & valuable skills, and great reputations.
6/ Some examples of personal moats:

https://t.co/z4wTRxMYWL
7/ Litmus test: If there is a Quora post with step by step instructions on how to do something, or if a lot of people have done it, then it’s likely not a durable personal moat.

If there’s a playbook for it, then how defensible is it?

(Unless you're the world's best at it.)
8/ Think of the moats described earlier:

How do you invest in 10+ unicorns like @eladgil?

How do you build a mega captive audience like @tferriss?

How do you become an encyclopedia like @tylercowen?

No playbook.
9/ How do you find out what could be your personal moat?

Ask others: What’s something that’s easy for you to do but hard for others?

AND very difficult for people to reverse engineer?
10/ Something that has high barriers to entry (e.g need to do 1 of below):

- Have the right relationships
- Be willing to risk social disapproval
- Get good at something w/ no playbook.
- Pick something that isn’t big now, but it will be in the future

https://t.co/ZTdTyqMKHh
11/ What is some tangible, yet wildly generalized, advice?

A) Discover what you can be great at. Align it w/ what could be important in the future.

B) Get so good they can’t ignore you.

C) Leverage super power to build other assets, but not too soon:

https://t.co/vFUBBJhsiN
12/ In tech, the cleanest (albeit, hardest) way to build a personal moat is to start a successful company.

There are other ways, but they just take longer.

A future tweet storm will be on how to build career capital without doing so.
13/ All thoughts, questions, and other examples of personal moats are appreciated.

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If you have less revenue/growth/success than you wish you had, then the best thing you can do is OWN IT.

Write a tweet, tell your friends, and move on.

Once you own it, you fix it.

99% of people on Twitter/social media/internet won't do this.

Being radically transparent and honest is a competitive (and life) advantage.

From @RayDalio's Principles:


My new product has 14 users and <$400 monthly revenue. I've spent the last 4 months on it.

I'm going through a lot of pain to validate and grow it.

But if anyone asks me how it's going I will tell them exactly that.

If I asked them, I would hope they would give me the raw truth as well. Truth builds trust.

I think that goes for your internet audience as well. Authenticity is attractive.

I see this with @starter_story all the time - people don't want to share their revenue yet because they don't have any, or it's not high enough (not all cases but often).

I wish I could tell them that getting the cat out of the bag would actually fix the problem itself!!
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“How long are you going to wait before you demand the best for yourself?” Epictetus
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20 lies that the world feeds us everyday

A thread...

Lie 1:
If you don't settle in your 20s, you are gone!
This is the decade.
You don't get another chance.
Study fast, get a job, get married, kids, that car, that house.
Quickly!
Time's running.
Look at everyone else doing it!

Lie 2:
People who are poor are lazy.
People who are rich are hardworking.
It is your fault if you haven't made it in life.
Look at everyone else who made it.
There is nothing granted or gifted in life.

Lie 3:
Those in corporate jobs, are unambitious.
They have sold their soul.
They are addicted to the salaries.
They could have done so much more with their life.
But they decided to spend it working for someone else.

Lie 4:
Starting your own business is the surest way of making money.
You can never get rich earning a salary.
You can never get rich working for someone else.
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Risktaker🦹🏽...
@Risk2Earn
10-Life Lessons From The One & Only @naval

~Thread~

“You want to be rich & anonymous... Not poor & famous.”

The goal is to get rich & disappear, not to get noticed!

The problem is that too many people are chasing clout instead of wealth.

Clout is not gonna put food on the table in 5 years. Change your priorities!

“I don’t have time” is just another way of saying, “it’s not a priority”

Being “Too busy” is a myth,

People make time for the things that are important to them.

If you haven’t made enough time then it’s simply because you haven’t convinced yourself it’s a priority.

“Earn with your mind, not with your time”

You’ll never get rich trading your time for money...

Reason being? Because you only have 24 hours in a day & you can’t work non-stop.

Use your mind & money to create a product that will generate you money even while you sleep 🥱

“You can escape competition through authenticity... No one can compete with you on being you”

No 2 humans are exactly the same, there’s something that makes each of us unique.

Find what makes you different & capitalize.

Your biggest competitive advantage is your originality!
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Julie Zhuo
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@joulee
A frequent question I get when talking with senior designers: Will my growth as a designer stall if I start managing?

There is often a second question underneath that, which is:
Will I no longer be respected as a design leader if I can't keep up as a designer?

Thread below👇

My short answer to "Will my growth as a designer stall if I manage?" is yes, absolutely, if "designer" is someone who produces design work.

Managing a 5-8 ppl team does not leave you time to design. When you don't practice a craft, you should not expect to get better at it.

However... (and this is a BIG however)...

What you *can* continue to grow (as both a design manager and a designer) is the following:

1) Your design eye
2) Your design voice

A strong design eye means that others trust you to know what is good.

It means your taste is well-honed through extensive study of an area.

It means your sense for usability, simplicity and aesthetics is well-developed even at subtle or fine granularities.

Very early in my design career, my manager asked me to review some design portfolios. I sat there, petrified, clicking through dozens of links. I could tell which ones were really bad, but many of the portfolios seemed good! I could not really distinguish between them on quality!
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STORY OF PURANAS AND SUB PURANA (उप पुराण).

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for the common people to understand it properly and now their total is about four lakhs.

In Brahm Puran, Brahma preached this to Marichi. So this Puran of ten thousand shlokas is called Brahm Puran.

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Vaayu Puran is written in Shwet Kalp and has twenty four thousand shlokas. Here Vayudev preaches about Dharma.

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Markandeya Puran has nine thousand shlokas and here it is through the birds that Dharma is described.
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X : Our executive team is concerned that we need to up our game in order to out innovate Amazon.
Me : Do you map?
X : Yes
Me : Like this?
X : No. What's that?
Me : A map of a tea shop.


X : Why is that a map?
Me : Long story, all to do with how space has meaning. To keep it short, maps help people to focus on user needs, the components involved, to communicate missing components and scenario play ideas like staff becoming robots.


Me : They’re also good for measuring and managing capital flow, making investment decisions, removing bias and getting rid of duplication.
X : I don’t see how that helps with innovation?


Me : Well, innovation is a tricky word because we use it to describe many things. If you’re talking about differentiation with the adjacent unexplored then you’re experimenting in the “uncharted” space e.g. immortality with magic provided by the special custom built kettle.


X : That sounds like nonsense.
Me : A lot of what people think will be the next great innovation is nonsense. Actually, most of it is. That’s the nature of the uncharted space, it’s experimental, high risk and generally results in failure.
X : We need more reliable innovation.
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Naval
Naval
@naval
How to Get Rich (without getting lucky):

Seek wealth, not money or status. Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth. Status is your place in the social hierarchy.

Understand that ethical wealth creation is possible. If you secretly despise wealth, it will elude you.

Ignore people playing status games. They gain status by attacking people playing wealth creation games.

You’re not going to get rich renting out your time. You must own equity - a piece of a business - to gain your financial freedom.
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Patrick McKenzie
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@patio11
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This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.

The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."

This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
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There, a boiler room of folks fill in "Biden" (often without even voting downballot). The ballots (which are forensically legitimate, given that they come from the same print shop as the good ballots, ) then get trucked into Pennsylvania and mailed. Hundreds of thousands.

We have all of that documented. Texts, statements, affidavits, everything.

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