Taking more advice leaves you less well-equipped.
Most advice sucks.
It's well-intentioned, but it's dangerous to use someone else's map of reality to navigate yours.
Winners learn to filter and selectively implement—take the signal, skip the noise.
Powerful concepts everyone should know (to understand the world):
Taking more advice leaves you less well-equipped.
Most advice sucks.
It's well-intentioned, but it's dangerous to use someone else's map of reality to navigate yours.
Winners learn to filter and selectively implement—take the signal, skip the noise.
To learn anything:
Step 1: Identify a topic
Step 2: Try to explain it to a 5-year-old
Step 3: Study to fill in knowledge gaps
Step 4: Organize, convey, and review
True genius is the ability to simplify, not complicate.
Simple is beautiful.
Humans tend to:
(1) Attribute someone else's actions to their character—and not to their situation or context.
(2) Attribute our actions to our situation and context—and not to our character.
We cut ourselves a break, but hold others accountable.
Time is our most precious asset.
When you're young, you are a "time billionaire”—rich with time.
Too many people fail to realize the value of this asset until it is gone.
Treat time as your ultimate currency—it’s all you have and you can never get it back.
History is written by the victors.
Studying and learning from "survivors”—while systematically ignoring "casualties”—creates material distortions in our conclusions.
We overestimate the odds of success because we only read about successes.
Have you noticed that argumentative people rarely persuade anyone of anything?
Persuasive people don’t argue—they observe, listen, and ask questions.
Argue less, persuade more.
Persuasion is an art that requires a paintbrush, not a sledgehammer.
Money is NOT the only type of wealth.
There are 5 types:
• Financial (money)
• Social (relationships)
• Physical (health)
• Mental (knowledge, health)
• Time (freedom)
The pursuit of financial wealth can rob you of the others.
Don't let that happen.
Humans generally think very highly of themselves.
We tend to believe that we see the world with perfect objectivity.
We also assume that people who disagree with us must be ignorant, uninformed, or biased.
This error sits at the core of many societal problems.
Experts—or generally intelligent people—make the flawed assumption that others have the same background and knowledge on a topic as they do.
It makes them unable to teach or lead in an effective manner for those still coming up the learning curve.
Most of us need fewer friends and more intellectual sparring partners.
Friends are easy to come by.
Intellectual sparring partners are harder to find.
They will call you on your BS, question your assumptions, and push you to think deeply.
Humans overestimate the degree to which other people are noticing or observing our appearance or actions.
This keeps people from being themselves due to an irrational fear of judgement.
It's liberating to realize that most people don't really care about you…
Much of what we call "luck" is the macro result of 1,000s of micro actions.
Your habits put you in a position where luck is more likely to strike.
The Luck Razor: When choosing between two paths, choose the path that has a larger luck surface area.
Humans have a tendency to see and interpret information in a manner that supports previously held beliefs.
New data positive? This idea is a winner.
New data negative? Must have been an error in the experiment.
Very common and very dangerous.
The goal is to minimize the number of regrets in life.
When faced with a difficult decision:
(1) Project into the future.
(2) Look back on the decision.
(3) Ask "Will I regret not doing this?"
(4) Act accordingly.
Simple, effective.
Humans tend to have an expectation that they will be be justly rewarded and praised for all of their hard work and sacrifice.
The reality is that a lot of it goes unnoticed—it's thankless.
The pursuit of external affirmation just breeds resentment.
Work expands to fill the time available for its completion.
Work longer, get less done.
When you establish fixed hours, you find unproductive ways to fill it.
If your goal is to do inspired, creative work, work like a lion instead:
Sprint. Eat. Rest. Repeat.
Humans are notoriously incapable of objective evaluation of their own competency levels.
People with a low ability at a task are prone to systematically overestimate their ability at that task.
Example: Everyone is a genius in a bull market!
Humans tend to prefer avoiding losses vs. achieving gains.
The pain of losing something is more powerful than the pleasure of winning it.
We will typically do more to avoid losses than we will to seek gains.
We systematically overvalue what we already have.
Never attribute to malice that which can be adequately explained by stupidity.
In assessing someone's actions, we shouldn't assume negative intent if there's a viable alternative explanation—different beliefs, lack of intelligence, incompetence, or ignorance.
You've incorrectly been told that free time is bad—hustle culture lied to you.
The reality: Free time is a call option on future interesting opportunities.
When you have free time, you have the headspace and bandwidth to pursue high-upside ideas.
You have to put in more effort to make something appear effortless.
Effortless, elegant performances are simply the result of a large volume of consistent, effortful, gritty practice.
Small things become big things.
Simple is not simple.
When faced with two paths, choose the path that puts you in the arena.
It's easy to throw rocks from the sidelines.
It's scary and lonely in the arena—but it's where growth happens.
Once you're in the arena, never take advice from people on the sidelines.
Follow me @SahilBloom for more writing on powerful ideas, concepts, and more.
I will write a deep-dive on these concepts in my newsletter. Join 112,000+ others and subscribe! https://t.co/dCiVo9Iv7T
Sunk costs are economic costs already invested in an activity that cannot be recovered.
We tend to think we should continue with something on the basis of all that we've put in—with no regard for future costs or the likelihood of ultimate success.
Beware!
When choosing who to spend time with, prioritize spending more time with optimists.
Pessimists see closed doors. Optimists see open doors—and probably kick down the closed doors along the way.
Remember: Pessimists sound smart, optimists get rich.
Anything asserted without evidence can be dismissed without evidence.
Newton’s Flaming Laser Sword
If something cannot be settled by reasonable experiment or observation, it's not worth debating.
*These will save you from wasting time on pointless arguments!*
It's easy to be there for people to celebrate their wins. It takes character to show up for them in their darkest hour.
People never forget those who supported them when the chips were down.
Find your "darkest hour friends”—treasure them.
"Give me a place to stand and a lever long enough and I shall move the world." - Archimedes
Leverage is anything that multiplies the force of your inputs.
Building systems that provide leverage on your time, money, & energy will allow you to create a life you deserve.
More from Sahil Bloom
THREAD: With #silversqueeze trending on Twitter, it appears that this week's market spectacle may well be in the silver market.
A perfect moment for a thread on the Hunt Brothers and their alleged attempt to corner the silver market...
1/ First, let's set the stage.
The Hunt Brothers - Nelson Bunker Hunt, William Herbert Hunt, and Lamar Hunt - were the sons of Texas tycoon H.L. Hunt.
H.L. Hunt had amassed a billion-dollar fortune in the oil industry.
He died in 1974 and left that fortune to his family.
2/ After H.L.'s passing, the Hunt Brothers had taken over the family holdings and successfully managed to expand the Hunt empire.
By the late 1970s, the family's fortune was estimated to be ~$5 billion.
In the financial world, the Hunt name was as good as gold (or silver!).
3/ But the 1970s were a turbulent time in America.
Following the oil crisis of the early 1970s, the U.S. had entered a period of stagflation - a dire macroeconomic condition characterized by high inflation, low growth, and high unemployment.
4/ The Hunt Brothers - particularly Nelson Bunker and William Herbert - believed that the inflationary environment would persist and destroy the value of their family's holdings.
To hedge this risk, they turned to silver.
They began buying the metal at ~$3 per ounce in 1973.
A perfect moment for a thread on the Hunt Brothers and their alleged attempt to corner the silver market...
1/ First, let's set the stage.
The Hunt Brothers - Nelson Bunker Hunt, William Herbert Hunt, and Lamar Hunt - were the sons of Texas tycoon H.L. Hunt.
H.L. Hunt had amassed a billion-dollar fortune in the oil industry.
He died in 1974 and left that fortune to his family.
2/ After H.L.'s passing, the Hunt Brothers had taken over the family holdings and successfully managed to expand the Hunt empire.
By the late 1970s, the family's fortune was estimated to be ~$5 billion.
In the financial world, the Hunt name was as good as gold (or silver!).
3/ But the 1970s were a turbulent time in America.
Following the oil crisis of the early 1970s, the U.S. had entered a period of stagflation - a dire macroeconomic condition characterized by high inflation, low growth, and high unemployment.
Stagflation 101
— Sahil Bloom (@SahilBloom) September 2, 2020
The term "stagflation" is used frequently in discussions of monetary policy and risks in the post-COVID world.
But what is stagflation and how does it work?
Here's Stagflation 101!
\U0001f447\U0001f447\U0001f447 pic.twitter.com/at4FmaCmkM
4/ The Hunt Brothers - particularly Nelson Bunker and William Herbert - believed that the inflationary environment would persist and destroy the value of their family's holdings.
To hedge this risk, they turned to silver.
They began buying the metal at ~$3 per ounce in 1973.
Shared a lot of wins publicly in 2021, so it feels appropriate to share the losses just as publicly.
Here are my 10 biggest Ls from 2021 (and what I learned from each one):
Dopamine Addiction
Humans were not made for social media—the dopamine hits are dangerous.
I fell victim.
On several occasions, I found myself constantly refreshing my notifications on a viral thread.
It was gross.
I’m learning to physically force separation to avoid it.
Hustle Culture Fail
I spent the better part of the last decade as a hustle culture aficionado.
Then I burned myself out and was totally incapable of thinking creatively.
I made a change. Now I:
• Work like a lion
• Sleep 8 hours
• Take more walks
My life & work have 10Xed.
Solana Fail
I invested in Solana early and was riding high when it hit $30+ in April—10X+ on my investment.
I sold it and thought I was the next Warren Buffett.
Then it hit $100, $200, & $250—as I stubbornly sat on the sidelines refusing to re-enter.
I am not Warren Buffett.
The Hedonic Treadmill
I tweeted this in May—and then failed to practice what I preached.
Every win felt a bit less exciting. It’s part of our biology, but it was no way to live.
Measure internally, not externally.
Here are my 10 biggest Ls from 2021 (and what I learned from each one):
Dopamine Addiction
Humans were not made for social media—the dopamine hits are dangerous.
I fell victim.
On several occasions, I found myself constantly refreshing my notifications on a viral thread.
It was gross.
I’m learning to physically force separation to avoid it.
Hustle Culture Fail
I spent the better part of the last decade as a hustle culture aficionado.
Then I burned myself out and was totally incapable of thinking creatively.
I made a change. Now I:
• Work like a lion
• Sleep 8 hours
• Take more walks
My life & work have 10Xed.
Solana Fail
I invested in Solana early and was riding high when it hit $30+ in April—10X+ on my investment.
I sold it and thought I was the next Warren Buffett.
Then it hit $100, $200, & $250—as I stubbornly sat on the sidelines refusing to re-enter.
I am not Warren Buffett.
The Hedonic Treadmill
I tweeted this in May—and then failed to practice what I preached.
Every win felt a bit less exciting. It’s part of our biology, but it was no way to live.
Measure internally, not externally.
The Hedonic Treadmill is real.
— Sahil Bloom (@SahilBloom) May 21, 2021
Humans have a tendency to quickly return to a baseline level of happiness after positive events.
Step off the treadmill.
Focus on increasing your happiness baseline, not on the height or frequency of the spikes above it.
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Following @BAUDEGS I have experienced hateful and propagandist tweets time after time. I have been shocked that an academic community would be so reckless with their publications. So I did some research.
The question is:
Is this an official account for Bahcesehir Uni (Bau)?
Bahcesehir Uni, BAU has an official website https://t.co/ztzX6uj34V which links to their social media, leading to their Twitter account @Bahcesehir
BAU’s official Twitter account
BAU has many departments, which all have separate accounts. Nowhere among them did I find @BAUDEGS
@BAUOrganization @ApplyBAU @adayBAU @BAUAlumniCenter @bahcesehirfbe @baufens @CyprusBau @bauiisbf @bauglobal @bahcesehirebe @BAUintBatumi @BAUiletisim @BAUSaglik @bauebf @TIPBAU
Nowhere among them was @BAUDEGS to find
The question is:
Is this an official account for Bahcesehir Uni (Bau)?
Bahcesehir Uni, BAU has an official website https://t.co/ztzX6uj34V which links to their social media, leading to their Twitter account @Bahcesehir
BAU’s official Twitter account
BAU has many departments, which all have separate accounts. Nowhere among them did I find @BAUDEGS
@BAUOrganization @ApplyBAU @adayBAU @BAUAlumniCenter @bahcesehirfbe @baufens @CyprusBau @bauiisbf @bauglobal @bahcesehirebe @BAUintBatumi @BAUiletisim @BAUSaglik @bauebf @TIPBAU
Nowhere among them was @BAUDEGS to find
