Source: https://threadreaderapp.com/thread/1002103360646823936.html
Seek wealth, not money or status. Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth. Status is your place in the social hierarchy.
Ignore people playing status games. They gain status by attacking people playing wealth creation games.
You must own equity – a piece of a business – to gain your financial freedom.
You will get rich by giving society what it wants but does not yet know how to get. At scale.
Play iterated games. All the returns in life, whether in wealth, relationships, or knowledge, come from compound interest.
Pick business partners with high intelligence, energy, and, above all, integrity.
Learn to sell. Learn to build. If you can do both, you will be unstoppable.
Specific knowledge is knowledge that you cannot be trained for. If society can train you, it can train someone else, and replace you.
Specific knowledge is found by pursuing your genuine curiosity and passion rather than whatever is hot right now.
Specific knowledge is often highly technical or creative. It cannot be outsourced or automated.
Embrace accountability, and take business risks under your own name. Society will reward you with responsibility, equity, and leverage.
The most accountable people have singular, public, and risky brands: Oprah, Trump, Kanye, Elon.
Business leverage comes from capital, people, and products with no marginal cost of replication (code and media).
You can create software and media that works for you while you sleep.
An army of robots is freely available – it’s just packed in data centers for heat and space efficiency. Use it.
There is no skill called “business.” Avoid business magazines and business classes.
Study microeconomics, game theory, psychology, persuasion, ethics, mathematics, and computers.
Reading is faster than listening. Doing is faster than watching.
Become the best in the world at what you do. Keep redefining what you do until this is true.
When you’re finally wealthy, you’ll realize that it wasn’t what you were seeking in the first place. But that’s for another day.