Clean YouTube Chrome Extension here if you want to try it: chrome.google.com/webstore/detai…
YouTube Lifehack: 1. Hide all suggested YouTube videos 2. Search a new topic you are CURIOUS about The algorithm is built to keep you HOOKED - not to improve So many hidden gems outside of the "Recommended" videos Break the filter bubble Have some agency in your algorithms
THE ONLY PIECE OF ADVICE I'D GIVE MY YOUNGER SELF: When faced with a decision, ask yourself: "What option feels like it will produce the most amount of luck in the future? Choose it." Yet to see the Luck Razor fail. Everything else is just noise.
Recently noticed 2 trends when people are given extra free time: 1. The most interesting people I know use it to become more interesting 2. The most boring people I know use it become more boring
Lifehack: 1. Close down every tab 2. Open an empty text file 3. Write the following question: "What is the Elephant in my brain?" (Thoughts I've been avoiding out of fear) 4. Write down every answer 5. Review 24 hours later with clear action steps for each one
Tobi Lutke (@tobi) is the CEO of Shopify He's one of my favorite CLEAR thinkers I spent some time in lockdown going through his interviews Here are 6 mental models I got from it THREAD...
Humanity's most consistent fallacy is assuming the present moment has it figured out. We look back and laugh at our assumptions from 50 years ago. Whilst simultaneously forgetting that 50 years from now they be will be laughing at us.
LUTKE LESSON 3 - THINK ABOUT THE LONG TERM The media narrative is often a dichotomy of Shopify vs Amazon. Few talk about the similarity both CEO's have for LONG TERM thinking. Both consistently warn shareholders that they will sacrifice short term revenue for long term value.
Tobi states that almost EVERY DECISION your business makes can pivot on JUST one question: "Are you optimizing for every individual transaction or the LIFETIME transaction?" - Tobi Are you playing INFINITE games or FINITE games with your customers?
LUTKE LEARNING 4 - EMBRACE TRANSFER LEARNING "Video games are very distilled environments in which you can learn things." - Tobi He believes that playing certain games can help your brain rehearse thousand of repetitions for situations that are scarce in the real world.
"If your job is to make decisions, it’s worth treating it like any other subject to get better at." - Tobi Whenever he makes a decision, he keeps a small log file with one paragraph explaining what information he used to make that decision. He reviews it every 6 months
LUTKE LEARNING 6 - TALENT STACK LED BY CURIOSITY > MBA He didn't have an MBA. He didn't grind 100-hour workweeks. Instead, he played video games (which led to coding) and he snowboarded (which led to an online snowboarding store). This 'Talent Stack' led to Shopify.
"Following your genuine intellectual curiosity is a better foundation for a career than following whatever is making money right now." - @naval Pursuing your unique talent stack and curiosity is often inversely correlated with appearing successful early on. Stop caring.
The tragedy of the education system is that we associate net positive tools with the boredom of school: 1. Writing things down 2. Steelmanning both sides of an argument 3. Curiosity for new subjects 4. Identifying as a student Don't throw the baby out with the bathwater.
If you're presented with 2 equally qualified people: Person 1 - Looks the perfect part Person 2 - Doesn't look the perfect part Always pick 2 if all else is equal 1 has got there with advantages 2 has got there despite disadvantages
"By 2005, it would become clear that the Internet's effect on the economy is no greater than the fax machines." - Paul Krugman The fact you are reading this explains how wrong this one was. Remember this when you passively accept an economist's prediction on technology.
"The subscription model of buying music is bankrupt... You could make available the Second Coming in a subscription, and it might not be successful." - Steve Jobs in 2003 Apple Music + Spotify = 192 MILLION SUBSCRIBERS Remember this when you passively accept genius's opinion
People I've met via the internet: 1. Enjoyed talking to 99% of them 2. Regularly keep in touch with 50%+ of them These results are MULTIPLE times bigger than the people I've met via the roulette wheel of life (e.g. School, College, Bars, etc)
Mungers 3 pieces of advice on investing: 1. A great business at a fair price > Fair business at a great price 2. A great business at a fair price > Fair business at a great price 3. A great business at a fair price > Fair business at a great price So good he repeats it 3x
High leverage e-commerce wins: 1. Reduce checkout friction - Apple/Android Pay for the win 2. Quality photos - Don't have filthy cars in the car showroom 3. Free delivery - The Amazon generation hates paying 4. Social proof - Nobody buys what they don't trust.
We have a sales problem falsely diagnosed as an attention problem. Before we give kids drugs to make them focus, lets first reframe the subjects around their interests.
We need teachers that SELL their subjects to kids: Business Studies = How Supreme built its brand Information Technology = How to build a bot that texts your friends Physics = How a Lamborghini is designed 👆 No kid is bored in this school.
Request for product: 1. Take the top 1% of school teachers. 2. Scale their classes online to everyone. 3. If the child's parents are in a higher earning bracket, the parents pay. If they are in a lower-earning bracket, they get it for free. twitter.com/web/status/127…
How to get honest feedback from people on your ideas: "A person I know was thinking about doing {{insert your idea}}. What do you think about it?" When the owner of the idea isn't in the room, the honest feedback comes out. twitter.com/naval/status/1…
If personality traits were stocks, here's what I'd LONG: 1. High agency 2. Disagreeblness 3. Charisma 4. Growth mindset 5. Curiosity Now that's a unicorn in the making 🦄
The 2020 cheat sheet: - Have a skill - Get leverage - Avoid liabilities - Avoid identity politics - DM people with value - Schedule learning sessions - Undistracted time with friends - Take care of your immune system - Invest money in things that make you go faster
Questions to understand people better: 1. What parenting practices would you copy & paste from your childhood? 2. What important truth do very few people agree with you on? 3. If you could buy stocks in your friends, who would you invest in?
Golden rule - Marketing is a multiplier of product. If you multiply zero by one trillion, you get zero.
Inversion for e-commerce: - Ignore data - Make it look like a scam - Target the wrong customers - Use visually unappealing assets - Create something people don't want - Increase the friction it takes to purchase Avoid that ^^^ It's not easy but it's simple.
The worst thing about prisons of the mind (e.g. toxic relationships, jobs or locations) is that you have the key the entire time but believe somebody else does. You can quit whenever you want. You are the guard and the cell mate.