The Wisdom Wall
15 quotable lessons, heuristics and mental models. Every one is playable at the moment it was said. No fortune cookies allowed.
“I personally have found that billionaires are generally very high character people because the key to being really successful is to create allies along the way such that you're put in a room of opportunities when you're not physically there.”
“I would say don't never get in between a venture capitalist and their second million, because they will take to Twitter and call you a plagiarist or accuse you of having done terrible things at NYU, which you've never Ever been accused of, much less people have, people have found you guilty of.”
“Your return on your invested capital is inversely correlated to how sexy and cool an industry sounds.”
“going to work for a big company is vastly underrated. They can abuse their monopoly position. They will have that mole removed. You will get rich slowly working at Google or at McKinsey. So if you're credentialed, uh, you know, we over romanticize entrepreneurship. If you have the ability to get into the greatest…”
“We don't embrace failure, that's bullshit, but we tolerate it.”
“not talking about money is basically a decorum that is promoted by the incumbents and the wealthy, such that you don't understand how much money wealthy people have to keep poor and middle class people under the illusion that, oh, you, you should be paying 45% taxes while I'm paying 17.”
“Like you're, quite frankly, you should be selling down your Airbnb and your HubSpot stock and just letting, you don't need the needle in a haystack. You just need to buy the whole haystack because you've got enough capital.”
“Money is a means of protecting people, not of having an awesome life”
“Hands down, fractional is the way to go, because you essentially can arbitrage scale up or down based on the mission.”
“I think if there's one secret sauce to communicating is that if you can write well, you're going to be a decent communicator.”
“The real power of economic security is, like, eliminate the should bucket. There's things you want to do. There's things you have to do. Get rid of the should.”
“Being subject to trying to make as much money as you spend, or ideally more at any age, keeps you in the market. You have to, you have to understand what the market values and doesn't value.”
“I do think there is an algorithm for happiness, though, a pretty good one, and that is to be rich but anonymous, because at some point I'm going to become the villain.”
“the key between a practice and an enterprise that creates real money is to find outstanding people and get, and get them to leverage your time and your talent.”
“I think there are going to be a lot of businesses, whether it's carpet cleaning or gas stations or, uh, you know, hanging and selling draperies into small furniture companies that are owned by boomers. They're going to need a transition, nice small businesses, and these individuals will need liquidity events. They're…”