Albert Einstein once said: “Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it”. Compounding is the process by which we add interest to the original sum, which then earns interest on the previous sum and the newly added interest, and then earns interest on […]
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Legendary investor Warren Buffett summarized the concept as: “Know your circle of competence, and stick within it. The size of that circle is not very important; knowing its boundaries, however, is vital.” In other words: know what you know and know what you don’t know. Your circle of competence is a combination of what you’re
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Hanlon’s Razor can be summarized as follows: Never attribute to malice that which is adequately explained by stupidity. In other words: don’t assume the worst intention in the actions of others. This helps you see the world in a more positive light, stop negative assumptions, and improve relationships. Like Occam’s Razor, it forces us to
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Read more on Amazon Read my other book notes Rating: Optional Books Language: English Summary An exciting, albeit drawn-out, retelling of man vs man-eating tiger in Russia’s Far East. Reads like good fiction. Key Takeaways What I got out of it I’m not sure what to make of The Tiger. It’s a story that could
The Tiger: A True Story Of Vengeance And Survival by John Vaillant Read More »
A philosophical razor is a tool used to eliminate improbable options in a given situation.Occam’s Razor (also known as the “law of parsimony”) can be summarized as: Among competing hypotheses, the one with the fewest assumptions should be selected. In other words: the simplest explanation is preferable to (and more likely to be true than)
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First-order thinking is fast and easy. We look for something that solves the immediate problem without considering the consequences. Second-order thinking is more deliberate. You think in terms of interactions and time and consider the subsequent effects of an action. This way of thinking helps you realize that, despite our intentions, our actions can have
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Read more on Amazon Read my other book notes Rating: Optional Books Language: English Summary A recount of the American banana industry from the late 19th century to the mid 20th century, with a focus on the rise and fall of Sam Zemurray (Sam the Banana Man). Long-winded, but many lessons for entrepreneurs. Key Takeaways
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First principles thinking has been made popular in recent years by Elon Musk. The idea is to break complicated problems down into basic elements and reassemble them from the ground up. Instead of thinking based on analogy – how have others done it before me? – you think based on fundamental truths – what are
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Inspired by the German mathematician Carl Gustav Jacob Jacobi’s “invert, always invert,” this model is used to solve difficult problems. We tend to think one way about a problem: forward. We are at point A. We want to get to point B. How do we get there? Inversion makes us flip the problem around and think backwards:
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Read more on Amazon Read my other book notes Rating: Optional Books Language: English Summary Scott Adams’ philosophy on life and attaining success. Lots of practical perspectives and (simple) systems to apply to your life. “Timing drives success. Try different things, ensuring you fail forward, until you get timing down by luck. Prioritize personal energy.”
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Read more on Amazon Read my other book notes Rating: Recommended Reading Language: English Summary Pursue your curiosity, be a practitioner, explain the theoretical practically, and a variety in skills and experiences does wonders, as exhibited and retold in this polymath and Nobel laureate’s autobiography. Key Takeaways What I got out of it Plenty of
Surely You’re Joking Mr Feynman by Richard Feynman Read More »
Read more on Amazon Read my other book notes Rating: Skip This Book Language: English Summary Dry, dull and poorly written with generic management advice. Little background. Read The Effective Executive (management) or The Score Takes Care Of Itself (sports) instead. Key Takeaways None What I got out of it After one chapter of The
The Manager by Mike Carson Read More »