My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Wisdom as the Limiting Factor
Recognizing that good judgment and decision-making ability are more valuable and scarce than raw intelligence or hard work.
Decision Rule
When choosing between options, prioritize the choice that requires less intelligence/effort but better judgment over options that require more intelligence/effort but poor judgment.
How It Works
Good judgment acts as a multiplier on all other capabilities, while poor judgment can negate even exceptional intelligence and work ethic.
Failure Modes
Using this to justify lazy thinking or analysis
Overvaluing intuition without supporting evidence
Dismissing expertise in favor of 'common sense'
Example Decision
“Instead of working 80 hours/week on multiple projects, choose to work 40 hours on the single highest-leverage opportunity that aligns with long-term goals.”
Related Knowledge
Most people should focus on starting and selling a business rather than stock picking for wealth bui
Investment education should focus on index fund basics while business education should focus on company building and exi
Wealth Preservation Framework
A conservative investment approach focused on maintaining purchasing power and reducing stress rather than maximizing returns, typically used after achieving a significant financial milestone.
Second Derivative Spending Rule
A cash management principle where you never spend business income directly, but only spend the investment returns generated from that business income.
Investment Thesis Litigation Framework
A systematic approach to evaluating competing investment or business theories by collecting multiple expert perspectives and weighing evidence like a legal case.
Systematically evaluate and optimize personal investment allocation through peer feedback
Clear understanding of current allocation, identification of blind spots, actionable feedback from trusted peers, and refined investment strategy aligned with goals.
Convert entrepreneurial success into sustainable long-term wealth
Financial independence where investment returns can fund lifestyle indefinitely without touching principal, plus continued income from new ventures.