BC PERSONAL GROWTH

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Sumit Garg
@sumitupgarg 3 years, 6 months ago 618 views

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How to think critically:

(mental models and logical fallacies)

Whenever possible, confirm the "facts."

"Fact-checkers are just fake authorities anointed by the media, according to fact-checkers." — @naval

Authorities can make mistakes.

Don't fall for the "arguments from authority fallacy."

"In science there are no authorities; at most, there are experts." — Carl Sagan

Survival of the fittest argument.

Always think of multiple explanations for an argument.

Then think of tests to disprove each explanation.

Whatever remains has a better chance of being right than simply sticking with the first idea.

Two mental models that fit here:

Occam's Razor: When faced with multiple explanations pick the simpler.

Hanlon's Razor: "Never attribute to malice that which is adequately explained by stupidity." In other words, there can be honest mistakes.

Debate all points of view.

"Be skeptical of the side of a debate that is less willing to try to see the other side’s point of view." — @sama

Be open to disproof.

Unfalsifiable ideas are not worth much in the grand scheme of the universe.

"It’s smart to take help of a pessimist to find blind spots in an idea you feel very confident about. That’s their only good use I've found so far." — @kunalb11

Choose knowledge over ego.

Just because an idea is yours doesn't make it right. Accept that others can and will find faults with it.

"The trick to viewing feedback as a gift is to be more worried about having blind spots than hearing about them." — @JamesClear

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Sumit Grrg
@sumitgrrg

I just read all of Jeff Bezos's 23 letters to Amazon shareholders. And here's a thread with just one key-takeaway from each of these letters.

So if you're an artist or an entrepreneur looking to get some insight into the mind of this genius, read this right now.

1997: Focus relentlessly on your customers and long-term growth.

1998: Here are the 3 criteria Bezos wants managers to consider when hiring (to set the bar high):

1. Will you admire this person?

2. Will they raise the average level of effectiveness of the group?

3. Along what dimension might this person be a superstar?

1999: How to think long-term? Think: it's good enough today, but it will get so much better.

2000: "In the short run, the market is a voting machine but in the long run, it is a weighing machine.” - Benjamin Graham

We aren’t 10% smarter when the share goes 10% up, nor 10% dumber when it goes down. We want to be weighed, & we're always working to build a heavier company.

Sumit Grrg
@sumitgrrg

I've read all of Jeff Bezos's 23 years of Amazon shareholder letters twice now.

It's an MBA of its own.

Here's what I learned about startups, entrepreneurship, investing and more:

Your customers are loyal to you right up until the second that someone else offers them a better service.

Listen to customers, but don't just listen
to customers also invent on their behalf.

Here's Jeff Bezos on coming up with the Amazon Kindle:

We set ourselves the incredibly audacious goal of improving upon the physical book.

So don't be afraid to set big goals.

And remember that if you don't execute well, it will be done by someone else.

Many of the problems you'll face will have no textbook solutions, and so you should happily invent new approaches.

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Sumit Grrg
@sumitgrrg

These 10 threads will teach you more than reading 100 books

Five billionaires share their top lessons on startups, life and entrepreneurship (1/10)

I interviewed 5 billionaires this week

I asked them to share their lessons learned on startups, life and entrepreneurship:

Here's what they told me:
— GREG ISENBERG (@gregisenberg) January 23, 2021

10 competitive advantages that will trump talent (2/10)

To outperform, you need serious competitive advantages.

But contrary to what you have been told, most of them don't require talent.

10 competitive advantages that you can start developing today:
— Sahil Bloom (@SahilBloom) March 20, 2021

Some harsh truths you probably don’t want to hear (3/10)

I\u2019ve gotten a lot of bad advice in my career and I see even more of it here on Twitter.

Time for a stiff drink and some truth you probably dont want to hear.

\U0001f447\U0001f447
— Nick Huber (@sweatystartup) January 3, 2021

10 significant lies you’re told about the world (4/10)

THREAD: 10 significant lies you're told about the world.

On startups, writing, and your career:
— Julian Shapiro (@Julian) January 9, 2021

Sumit Grrg
@sumitgrrg

Five valuable mental models

1. Gates' Law
2. Parkinson’s Law
3. The Paradox of Choice
4. Hanlon's Razor
5. Leverage

On startups, business, finance, investing, career, life and whatnot.

Here's a quick guide/refresher:

Law.

We overestimate what we can do in a year and underestimate what we can do in ten years.

It's the classic instant gratification versus long term mindset.

A ten year timeline will set you free.

Parkinson’s Law.

Work expands to fill the time available for its completion.

"How can you achieve your 10 year plan in the next 6 months?" — Peter Thiel

Forgive me for putting it right after Gates' Law. But why not?

The Paradox of Choice.

More choices make decisions hard.

Your friends can't decide what to eat? Don't pass the parcel. Ask them to pick between two options. Same for Netflix. And so on. Saves time!

Eliminate indecision by reduction.

Hanlon's Razor.

"Never attribute to malice that which is adequately explained by stupidity."

Not everyone's out there to get you.

There can be honest mistakes.

sumitgarg.eth
@sumitupgarg

I read two-and-a-half decades worth of Jeff Bezos’s Amazon shareholder letters.

It’s like a mini MBA.

Here I’ve pulled out a free guide for startups, investing, marketing, and “web3”🧵

(It’s a thread, not an ebook)

First, why the focus on web3?

It’s the mid 90’s. A 30-year-old Jeff Bezos is trying to raise money for Amazon. And investors are wondering,

“What’s this internet thing?”

Fast forward, the year is 2022, and folks today are wondering,

“What’s web3?”

Now, a little background…

In 1994, Bezos quit a well paying job to start Amazon.

It wasn’t an easy decision. But Bezos used his famous “regret minimization framework.”

In other words, he didn’t want to be 80 and regret not doing what he really wanted to do.

But what did he want?

Bezos didn’t set out to disrupt retail from the outset.

He simply wanted to come up with a business idea based on the internet and then let the internet grow around it while he kept working on it.

Today, that idea is worth $1.7 trillion and counting.

Moving on to the lessons…

Each year since 1997, Bezos has written an annual letter to Amazon shareholders.

These letters reveal a great deal of lessons and secrets behind his massive success.

So what are they?

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48 Laws Of Power Bot
@48_quotes

By being unabashedly open you make yourself so predictable and familiar that it is almost impossible to respect or fear you, and power will not accrue to a person who cannot inspire such emotions.

48 Laws Of Power Bot
@48_quotes

Learn to take advantage of other people’s work to further your own cause.

Time is precious and life is short.

If you try to do it all on your own, you run yourself ragged, waste energy, and burn yourself out.

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48 Laws Of Power Bot
@48_quotes

[Conceal intentions with false sincerity]

Espouse a belief in honesty and forthrightness as important social values.

Do this as publicly as possible.

Emphasize your position by occasionally divulging some heartfelt thought - though only one that is meaningless or irrelevant.

David Perell
@david_perell

The Internet rewards unique people.

Find your unique combination of skills, interests, and personality traits.

I call this a Personal Monopoly.

Become the only person in the world who does what you do.

Then, tell the world by sharing your knowledge.

Thanks to @Calalouf for her beautiful drawings.

As you build your Personal Monopoly, don’t just focus on yourself.

Focus on what the world wants too.

Think like an investor.

Find a small and growing market that only a few people write about. Then, learn everything you can about it, and share the best of what you learn.

A Personal Monopoly is a unique intersection of skills, knowledge, and personality that nobody else can compete with.

Personal monopolies aren't found — they're made.

Global markets increase the upside of having a Personal Monopoly, but also make it harder to create one.

The process of building a Personal Monopoly is the process of becoming yourself.

The sweet spot is finding an idea that looks specific to others, but still diverse enough to express the many shades of who you are, where you excel, and what you want to achieve.

Dr. Julie Gurner
@drgurner

People that expect the worst of others, bring out the worst in themselves.

Whether negotiating, leading a team, or just having a coffee...expect good things.

How you approach every interaction matters. Your expectations always influence outcomes.

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