Wealth vs. Getting Wealthier
Will Smith writes in his biography that: Becoming famous is amazing. Being famous is a mixed bag. Losing fame is miserable. The amount of fame almost doesn’t matter. It’s the trajectory that people…
«Will Smith writes in his biography that: Becoming famous is amazing. Being famous is a mixed bag. Losing fame is miserable.»
More from Collab Fund
Endless Uncertainty
The night before the D-Day invasion, a nervous Franklin Roosevelt asked his wife Eleanor how she felt about not knowing what would happen next. “To be nearly sixty years old and still rebel at…
«The future is always endlessly unpredictable. What changes isn’t the level of uncertainty, but the level of people’s complacency.»
Too Far
Every good idea and every admirable trait can be taken too far. A few big ones where balance is everything: Confidence without arrogance. Optimism without complacency. Independence without isolation.…
Little Ways The World Works
If you find something that is true in more than one field, you’ve probably uncovered something particularly important. The more fields it shows up in, the more likely it is to be a fundamental and…
Rare Skills
Three rare and powerful skills: 1. Understanding how people justify their beliefs in a way that makes you respect their delusions. A rare and useful skill is understanding that people you find to be…
«Perhaps the most critical communication skill. Be brief. Use as few words as possible to say what you need, and everyone will appreciate it.»
Big Beliefs
A trick to learning a complicated topic is realizing how many complex details are a cousin of something simple. John Reed writes in his book Succeeding: When you first start to study a field, it seems…
«Nearly everyone underestimates how much their own beliefs and actions are influenced by their incentives, many of which are designed to fulfill someone else’s goals.»
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The Surprising Power of The Long Game
In everything we do, we play the long or the short game. The short game is easy, pleasurable, and offers visible and immediate benefits. But it almost never leads to success. Here's how to play the…
«It’s easy to overestimate the importance of luck on success and underestimate the importance of investing in success every single day»
Understanding your Circle of Competence: How Warren Buffett Avoids Problems
Understanding your circle of competence allows you avoid problems. As we can learn from Warren Buffett, avoiding problems is easier than solving them.
«Over time, work to expand that circle but never fool yourself about where it stands today, and never be afraid to say “I don’t know.”»
Money is emotional — but personal finance advice rarely accounts for that
Budgeting tips won’t get you very far if you don’t address the elephant in the room.
Where does the wealth go when asset prices go down?
It vanishes into nothingness.
«The short answer is: It didn’t “go” anywhere. It vanished. It stopped existing. That’s not a natural or intuitive idea — how can wealth just disappear? —»
How to Enjoy Life When Everything is More Expensive
How do you enjoy life when everything is more expensive? You don’t want to spend too much. But living without pleasure is also no good.
«When you look at history, you’ll notice that the platitude is right: History doesn’t repeat, it rhymes.»