I'm not terribly impressed. A lot of these are of the form "do [something that's obviously a good idea]" without much info on which things to prioritise or how to actually do them. Stuff like "Pick business partners with high intelligence, energy, and, above all, integrity." (as though anyone wanted to pick a dumb, lazy, sleazy business partner)
He's involved with Angellist and a few cryptocurrencies.
Don't get me wrong I think the guy has some amazing insights and is worth listening to, yet simultaneously pretending that being a VC middleman with all this money sloshing around makes one a genius and involved no luck is silly.
You can make repeatedly bad investment decisions in the last decade and still be up a few hundred percent.
Take a dim view of people who consider that to be skill, we are in an unprecedented time with regards to money creation and certain asset prices reflect that.
Literally just reads like a summary of a summary of a bad business book. This advice is maybe only useful to 23 year old tech bros.
Also, does anyone in tech realize how much, say, lawyers and doctors make? I feel like this advice literally just disregards the truth that highly highly trained individuals in some fields do very well.
Said another way: rich without luck = go to a very good med/law school and work very hard for a decade or two. No luck needed beyond the requisite life circumstances.
Median founder income = 0$/year since your start up will go bust and you'll lose the money you put into it. So being a founder is a terrible career path if you're just average.
All of this advice is presaged on being exceptional. Exceptional doctors earn 400-500K year, lawyers too.
I'd say having the skills/wherewithal/drive/smarts/stomach to be able to get into med school then pass it requires quite a bit of luck, as well as a lot of effort.
"If you want to become a millionaire, make a positive impact in the lives of a million people. If you want to become a billionaire, make a positive impact in the lives of a billion people."
I don't remember where/when I read this, but this is my favorite quote about wealth.
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[ 3.2 ms ] story [ 59.2 ms ] threadhttps://twitter.com/naval/status/1002103360646823936
(Though pg's endorsement is interesting.)
Highly recommend reading who this person is before reading the thread.
It feels like the dodgy gurus of the 60's are back stronger than ever.
Don't get me wrong I think the guy has some amazing insights and is worth listening to, yet simultaneously pretending that being a VC middleman with all this money sloshing around makes one a genius and involved no luck is silly.
You can make repeatedly bad investment decisions in the last decade and still be up a few hundred percent.
Take a dim view of people who consider that to be skill, we are in an unprecedented time with regards to money creation and certain asset prices reflect that.
Also, does anyone in tech realize how much, say, lawyers and doctors make? I feel like this advice literally just disregards the truth that highly highly trained individuals in some fields do very well.
Said another way: rich without luck = go to a very good med/law school and work very hard for a decade or two. No luck needed beyond the requisite life circumstances.
Lawyer median income 2014: 75k/year
Doctors hold up better to this stereotype at median income of $208k (2017)
All of this advice is presaged on being exceptional. Exceptional doctors earn 400-500K year, lawyers too.
I don't remember where/when I read this, but this is my favorite quote about wealth.
Ah yes, the sacred VC creed of moving slowly and not breaking anything.
For more empty platitudes, see interviews of Warren Buffett complaining about how he's not getting taxed enough.