My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Adventure should be a core life value for young people
Evidence
Living abroad, learning languages, and facing challenges builds problem-solving confidence and humility that serves entrepreneurs well
Implication
Take calculated risks and seek difficult experiences before starting businesses to build character and capability
Counter Belief
Focused skill development and career progression from early age creates better outcomes
Example Application
Moving to China without GPS or translation apps forced development of adaptability and confidence that later helped in startup challenges
Related Knowledge
Agency and Permission Mindset
Most barriers to action are psychological rather than structural.
Six Stakeholder Business Evaluation Framework
A method for evaluating any company by scoring how well it serves six core stakeholder groups: customers, vendors, employees, investors, regulators, and communities where it operates.
Charlie Munger's Worldly Wisdom Learning Framework
A systematic approach to gaining broad competence by learning the 2-3 most important ideas from each major discipline, creating a toolkit of mental models that can be applied across different domains.
Build profitable businesses by structuring public government data into useful consumer tools
A profitable business generating millions in revenue by making public data accessible and useful to specific customer se
the key to success is dumb competition
Choose markets where you compete against less intelligent or capable competitors rather than against other highly skille
focusing on making money will cause you to make less money
When people perceive you as primarily motivated by money extraction, they avoid transacting with you, reducing your actu