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Warren Buffett's legendary speech at the University of Georgia. This speech is a great piece on business and investing. But I specifically enjoy it for Buffett's humor and life lessons. Here are some of my favorite points: 1. Don't work for your Resume - Work for someone you admire. Not to upgrade your resume. Working jobs that you hate first sounds to Buffett like: "Saving up sex for when you're old." Focus on learning on the job! 2. Qualities to focus on in Life - Buffett's Thought Experiment: Look around in your classroom, which classmate would you choose when you could keep 10% of his earnings for the rest of your life? Also, think about the inversion of this scenario: Who would you sell short? The characteristics that you focus on when answering these questions are the ones you should focus on in your own life. 3. The Best Compounders are Stable Companies - "The internet won't change how you chew gum." Buffett's biggest successes come from companies that aren't disruptable. Industries that are subject to disruption are a bad spot to look for long-term investments. 4. Go Short Horses, Not Long Cars - Investing is not about spotting the disruptors. In most cases, it's obvious when a life-changing product comes up. The question is, who profits from that change? It was a matter of time before cars replaced horses. But out of hundreds of car companies, only a handful actually succeeded. The same happened in the airline industry. 5. Managing your Circle of Competence - According to Buffett, the key to successful investing is to manage your circle of competence. It's not how big that circle is. More important is that you know your boundaries and always stay within them. 6. The Birds in the Bush - "A bird in the hand is worth two in the bush." However, an investor should also ask: 1. How many birds are in the bush? 2. When will they come out? 3. How sure am I? Investing is all about answering these questions. What investing lecture/speech/video can you recommend to me? If you enjoyed this tweet, please Retweet and Like it!

Daniel Mahncke

138,552 views • 2 years ago

Alex Karp, CEO of Palantir, on the only framework that actually leads to success: Find the thing you're uniquely good at. Then organise your entire life around it. Karp, who has spent over 20 years managing young people, says the number one reason talented people fail is surprisingly simple: "Failure one is not willing to accept what they're actually good at. It may not be what you want to be good at." Most people spend their formative years optimising for the wrong things. Karp is blunt about this: "I've never met someone really successful who had a great social life at 20. If that's what you want, that's what you want, that's great, but you're not going to be successful and don't blame anyone else." He also challenges how people think about choosing a life partner. He describes a pattern he sees constantly — someone says they've met a person they really like, and when he asks what they like about them, the answers are: they went to this school, their brother is interesting, their sister is interesting. His follow-up is always the same: "Do you like them? Do they like you? How are they going to feel when you dedicate the next 10 years of your life to building what you think is valuable?" That question is the point. Partner selection, social life, daily habits should all be evaluated through one lens: does this support or undermine the work you're meant to be doing? And the payoff for getting this right, Karp argues, is freedom: "Focus on your aptitude and focus on your freedom and happiness, which are directly correlated because if you're doing something you're really good at, no one really cares what you wear to work." His advice to the people who come to Palantir distils it all down: Identify your aptitude. Organise your whole life around it. Don't chase the money. And as he puts it: "Stay off the meth and you'll do very well."

Big Brain Business

23,321 views • 24 days ago

we all dream of those big wins in life the 100x, the multi-million dollar trade, or even just 10x of what you started with in 7 days i’ve been fortunate enough to experience a few of those over the past few years, and the reality is when you do win big, it doesn’t feel like it at all it hits for a split second, and then your brain just normalizes it it's a part of how to get there in the first place, but makes it a lot easier to lose it if you don't have the right guardrails in place and in that exact moment, you being even keeled doesn’t mean the number in front of you isn’t life changing it is this is where you have to slow down a bit, breathe, settle your mind don’t just roll it into some bullshit take some off the table, step away for a few days if you have to, funny enough, blowing let's say 10k of it on a beautiful trip to tokyo will save you so much because once you actually process what just happened, your future self will thank you for it the truth is, even if you think you’re going for a certain number, the moment you hit it, you’ll want more and more, and more anyone who's been in the same position will tell you the exact same thing ironically the people that win are addicted to winning and if you ask the same people in a year after that big win, what they regret and where are they proud of themselves? they will tell you they regretted rolling it over and giving some/all back or they are proud for switching back on the switch all of this is real, but it’s also exactly how i imagined it would feel years ago before it ever happened manifest your life, the feeling not just the number everything happens twice, first in your mind, then in reality

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23,017 views • 2 months ago