My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Asymmetric Risk/Reward
Seek opportunities where you can lose small amounts but win large amounts, or where you have information others lack
Decision Rule
Only invest when downside is limited but upside is potentially massive, or when you have knowledge edge
How It Works
Mathematical expectation works in your favor when risk/reward ratios are skewed positively
Failure Modes
Overestimating your information advantage
Ignoring probability of success in favor of large upside
Taking asymmetric bets you can't afford to lose
Example Decision
“Investing $100 in a startup where maximum loss is $100 but potential return is 100x, especially when you have industry knowledge others lack”
Related Knowledge
Wealth building is a learnable skill
Anyone can learn wealth-building skills regardless of current financial position
Two Millimeter Shifts
Small adjustments in approach that create massive changes in outcomes, like a golf club being 2mm off causing the ball t
Play/Work Overlap Framework
Finding activities that feel like play to you but appear as work to others, creating a sustainable competitive advantage
Fat Pitch Strategy
Waiting for high-probability, high-reward opportunities rather than swinging at every chance that comes along
Get informal mentorship from successful people
Person regularly responds to your questions and you have ongoing informal advisory relationship
You can do anything but you just can't do everything
Having unlimited potential doesn't mean you should pursue unlimited opportunities simultaneously