My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Wealthy parents systematically damage their children by trying to give them advantages they themselves didn't have
The Reasoning
The struggle and resource constraints that built the parent's success are exactly what they're removing from their children's development
What Needs to Be True
- Struggle and constraint build crucial character traits
- Easy money reduces motivation and skill development
- Parents project their own scarcity rather than understanding abundance
Counterargument
Wealthy parents can provide better opportunities and education that genuinely help their children
What Would Change This View
Evidence of children who received large financial gifts becoming more successful because of them
Implications for Builders
Embrace constraints as character building
Focus on skill development over resource accumulation for children
Understand that your struggles were features, not bugs
Example Application
“Instead of giving your 18-year-old $20M to start businesses, give them small amounts with clear achievement milestones to unlock more”
Related Knowledge
Little Big Details Framework
Focus on small, seemingly insignificant moments and details that reveal deeper patterns and insights, rather than obviou
Eight Hour Observation Framework
Physically position yourself in the center of a problem area and observe continuously for extended periods without preco
Peer vs Fan Relationship Framework
The only valuable celebrity/high-status person relationships are mutual respect between peers, not fan-celebrity dynamic
Number Two Guy Network Strategy
Build relationships with the second-in-command people (assistants, business partners, right-hand people) who have 98% of
Build and maintain a world-class professional network through consistent relationship nurturing
People proactively share opportunities with you, remember important details about your projects, and maintain warm relat
Center of Universe Company Strategy
Each year one company becomes the clear breakout that everyone wants to work with - identify and invest in that company