mindsets

The best game to play is the one that requires no scoreboard in the first place.

Scott Adams, the Dilbert creator, says he doesn’t have any extraordinary skills. He’s a pretty good artist. He’s kind of funny, an OK writer, and decent at business. But multiply those mediocre skills together and you get one of the most successful cartoonists of all time. A lot of things work like that. A couple ordinary things you don’t notice on their own create something spectacular when they mix together at the right time. One of the big leaps forward for humanity is when we mixed copper, which is soft, with tin, which is like paper, and created bronze, which is hard and made great tools and weapons. It was like two plus one equals ten. Same with the weather. A little cool air from the north is no big deal. A little warm breeze from the south is pleasant. But when they mix together over Missouri you get a tornado. Same with people. It’s tempting to want to find the one big skill that will set you apart. But most incredible things come from compounding, and compounding isn’t intuitive because the incremental inputs are never exciting on their own. A few little things that are easy to ignore yet work wonders when combined together: Curiosity across disciplines, most of which are outside your profession. A well-calibrated sense of your future regret. The ability to endure risk vs. assuming you can avoid it. Respecting luck as much as you respect risk. The willingness to adapt views you wish were permanent. Low susceptibility to FOMO. A sensitive bullshit detector. Valuing your independence over someone else’s priorities. Respecting history more than forecasts. Respecting the difference between rosy optimism and periods of chaos that trend upward. Quitting while you’re ahead before you’ve exhausted or outgrown what made you successful. Outperforming by merely “doing the average thing when everyone else around you is losing their mind.” Thinking in probabilities vs. certainties, including the idea that a good decision can result in a bad outcome and vice versa. Acknowledging that some things are unknowable and not fooling yourself into thinking you can figure them out. Identifying what game you’re playing and not being persuaded by people playing different games. Expecting the ridiculous and absurd vs. assuming the world is always governed by rational decisions. Accepting some inefficiency and hassle without losing your cool. Knowing the long-term consequences of your actions. Deserving the good reputation you have. Getting along with people you disagree with. None of these are too exciting, but maybe that’s the point: Most things that look like superpowers are just a bunch of ordinary skills mixed together at the right time.

Peter Thiel asks this one question when he interviews someone to determine their future.

How to solve problems quickly and cheaply? Add more mental models to your thinking toolbox. Check the best mental models For problem-solving.

Steven Pressfield wrote for 30 years before publishing The Legend of Bagger Vance. His career leading up to then was bleak, at one point living in a halfway house because it had cheap rent. He once spoke about the people he met living there: The people in this halfway house, we used to hang out in the kitchen and talk all night long, were among the smartest people that I ever met and the funniest and the most interesting. And what I concluded from hanging out with them and from others in a similar situation was that they weren’t crazy at all. They were actually the smart people who had seen through the bullshit. And because of that, they couldn’t function in the world. They couldn’t hold a job because they just couldn’t take the bullshit, and that was how they wound up in institutions. The greater society thought, “Well these people are absolute rejects. They can’t fit in.” But in fact they were actually the people that really saw through everything. This may not have been Pressfield’s point, but it reminds of something I’ve long believed. If you recognize that BS is ubiquitous, then the question is not “How can I avoid all of it?” but, “What is the optimal amount to put up with so I can still function in a messy and imperfect world?” If your tolerance is zero – if you are allergic to differences in opinion, personal incentives, emotions, inefficiencies, miscommunication and such – your odds of succeeding in anything that requires other people rounds to zero. You can’t function in the world, as Pressfield says. The other end of the spectrum – fully accepting every incidence of nonsense and hassle – is just as bad. The world will eat you alive. The thing people miss is that there are bad things that become bigger problems when you try to eliminate them. I think the most successful people recognize when a certain amount of acceptance beats purity. Theft is a good example. A grocery store could eliminate theft by strip-searching every customer leaving the store. But then no one would shop there. So the optimal level of theft is never zero. You accept a certain level as an inevitable cost of progress. BS, in all its forms, is similar. A unique skill, an underrated skill, is identifying the optimal amount of hassle and nonsense you should put up with to get ahead while getting along. Franklin Roosevelt – the most powerful man in the world whose paralysis meant the aides often had to carry him to the bathroom – once said, “If you can’t use your legs and they bring you milk when you wanted orange juice, you learn to say ‘that’s all right,’ and drink it.” Every industry and career is different, but there’s universal value in that mentality, accepting hassle when reality demands it. Volatility. People having bad days. Office politics. Difficult personalities. Bureaucracy. All of them are bad. But all have to be endured to some degree if you want to get anything done. Many investors have little tolerance for a bad year or a stretch of underperformance. They think it’s noble. “I demand excellence,” they’ll say. But it’s just unrealistic. The huge majority of them won’t survive. Compounding is fueled by endurance, so sitting through market insanity is not a defect; it’s accepting an optimal level of hassle. Same in business. My friend Brent Beshore says running a company is like eating glass while being punched in the face. “Often nothing works. Emotions run wild. Confusion reigns.” He’s also equated it to a daily battle where you wake up every morning, grab your knife, fight off challenges, and pray you make it home alive. But dealing with that hassle is the entire reason why it can be lucrative. “Where there’s pain there’s profit,” he often reminds people. There’s an optimal level of hassle to accept, even embrace. Another upside: Once you accept a certain level of BS, you stop denying its existence and have a clearer view of how the world works. I was once on a flight with a CEO – he let everyone know that’s what he was – who lost his mind after we had to change gates twice. I wondered: How did he make it this far in life without the ability to deal with petty annoyances outside of his control? The most likely answer is that he lives in denial over what he thinks he’s in control of, and demands unrealistic precision from subordinates who compensate by hiding bad news. Good advice for a lot of things is just, “Identify the price and be willing to pay it.” The price, for so many things, is putting up with an optimal amount of hassle.

I was living on the beach in Santa Monica, California, and life was perfect. I was in paradise, and deeply happy.

An excellent work of philosophy exploring our underlying anxiety caused by the ultimate freedom afforded to us by modern living, and our desire to escape that freedom for a more comfortable life.

In markets and life

The knowledge of a carpenter is in his hands. The apprentice must work with his own to discover it. Here is some terrible advice: “If you can't explain it to a 6-year-old, you don't understand it yourself.”

Our lives are full of decisions, and bad ones can lead to regret. New Scientist helps you make up your mind

“Character, like a photograph, develops in darkness.” — Yousuf Karsh

David shares a compilation of the best links from his newsletter Friday Finds. Read here.

Plus! The Carbon Rally; The Bridge; Housing and Rates; Full Stack Media; Buying Out Contracts; Diff Jobs

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It's the great everything and the great nothing.

To fully embrace the joy of missing out and choose to do the things that make us happy, we need to better understand what’s driving our fear of missing out.

by Carrie Moyer A couple years ago I found myself drifting away from a close friend because I realized that he always made me feel weirdly… judged. Not in the sense that I did anything to upset him, but because it felt like he was always assessing everything around him to see if it conformed to his standard of good taste

Thiel defines secrets as important truths about the world that other people don’t yet realize.

If you open a roadside motel, expect that tired and demanding budget travelers will arrive. If you run a fancy restaurant, don’t be surprised if people will angle and cajole and lie to get a …

Listen now (10 min) | Abstraction & synthesis of the most transformative year of my life

The most liberating aspect for me of writing emails rather than tweets is the natural limit on topics I might be tempted to have a take on. When I was primarily writing tweets, I could easily involve myself in a dozen topics in a day. HERE'S A TAKE, THERE'S A TAKE, TAKE THAT! With email, it's a sliver of that. But it goes even deeper t...

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Watch on YouTube   Something that has always fascinated me is the concept of a Polymath or Renaissance Man, or a person who has many talents and knowledge in multiple domains. One of the modern day polymaths I’ve learned the most from is Josh Waitzkin. When it comes to touching excellence in multiple domains Josh... Read More

Six Spokes Theory shows that we can’t neglect important areas of life if we want to live optimally. This requires making tough choices

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A summary of Paul Graham’s 200+ essays. This is an introduction to his ideas on startups, writing, society, decision-making and more.

After many years of writing for big companies, a few universal truths have emerged from hundreds of projects, no matter the budget: Having a clear audience is critical for creation, promotion, and sales. Having a clear goal is existential for the project and ultimately the company. It’s rar