Life is about the Journey not the Goal
I’m obviously paraphraing here
Quotes- “If you’re not failing, you’re not pushing your limits, and if you’re not pushing your limits, you’re not maximizing your potential”
“I learned that if you work hard and creatively, you can have just about anything you want, but not everything you want. Maturity is the ability to reject good alternatives in order to pursue even better ones.”
“Having the basics—a good bed to sleep in, good relationships, good food, and good sex—is most important, and those things don’t get much better when you have a lot of money or much worse when you have less. And the people one meets at the top aren’t necessarily more special than those one meets at the bottom or in between.”
“the happiest people discover their own nature and match their life to it.”
“I just want to be right—I don’t care if the right answer comes from me.”
“Every time you confront something painful, you are at a potentially important juncture in your life—you have the opportunity to choose healthy and painful truth or unhealthy but comfortable delusion.”
“Listening to uninformed people is worse than having no answers at all.” aka be careful who you come to for advice
“Imagine that in order to have a great life you have to cross a dangerous jungle. You can stay safe where you are and have an ordinary life, or you can risk crossing the jungle to have a terrific life. How would you approach that choice? Take a moment to think about it because it is the sort of choice that, in one form or another, we all have to make.”
“Principles are fundamental truths that serve as the foundations for behavior that gets you what you want out of life. They can be applied again and again in similar situations to help you achieve your goals.” can develop them, and use them as algorithms, he has a view of the world, where any applicable
“Look for people who have lots of great questions. Smart people are the ones who ask the most thoughtful questions, as opposed to thinking they have all the answers. Great questions are a much better indicator of future success than great answers.”
“Because our educational system is hung up on precision, the art of being good at approximations is insufficiently valued. This impedes conceptual thinking.”
“Time is like a river that carries us forward into encounters with reality that require us to make decisions. We can’t stop our movement down this river and we can’t avoid those encounters. We can only approach them in the best possible way.”
“If you can’t successfully do something, don’t think you can tell others how it should be done” aka look for people who have done things over and over again correctly and explain the process
- being able to easily fire people
“first principle: • Think for yourself to decide 1) what you want, 2) what is true, and 3) what you should do to achieve #1 in light of #2 . . . . . . and do that with humility and open-mindedness so that you consider the best thinking available to you.”
“To be effective you must not let your need to be right be more important than your need to find out what’s true. If you are too proud of what you know or of how good you are at something you will learn less, make inferior decisions, and fall short of your potential.”
- letter from his board telling him that he sucks
“I saw that to do exceptionally well you have to push your limits and that, if you push your limits, you will crash and it will hurt a lot. You will think you have failed—but that won’t be true unless you give up.”
“The greatest gift you can give someone is the power to be successful. Giving people the opportunity to struggle rather than giving them the things they are struggling for will make them stronger.”
“The most valuable habit I’ve acquired is using pain to trigger quality reflections. If you can acquire this habit yourself, you will learn what causes your pain and what you can do about it, and it will have an enormous impact on your effectiveness.” -always meditate on pain
“Meditate. I practice Transcendental Meditation and believe that it has enhanced my open-mindedness, higher-level perspective, equanimity, and creativity. It helps slow things down so that I can act calmly even in the face of chaos, just like a ninja in a street fight. I’m not saying that you have to meditate in order to develop this perspective; I’m just passing along that it has helped me and many other people and I recommend that you seriously consider exploring it.”
“It’s more important to do big things well than to do the small things perfectly.”
“Remember that most people are happiest when they are improving and doing the things that suit them naturally and help them advance. So learning about your people’s weaknesses is just as valuable (for them and for you) as is learning their strengths.”
- he has many tools that categorize people based on personality, track record, working type etc.
“When a problem occurs, conduct the discussion at two levels: 1) the machine level (why that outcome was produced) and 2) the case-at-hand level (what to do about it).”
- view company as a machine, need to view every person as a process input output, figure out how to optimize. Managers are engineers where the cmpany is the machine
“Pay for the person, not the job. Look at what people in comparable jobs with comparable experience and credentials make, add some small premium over that, and build in bonuses or other incentives so they will be motivated to knock the cover off the ball. Never pay based on the job title alone.”
“I also feared boredom and mediocrity much more than I feared failure. For me, great is better than terrible, and terrible is better than mediocre, because terrible at least gives life flavor. The high school yearbook quote my friends chose for me was from Thoreau: “If a man does not keep pace with his companions, perhaps it is because he hears a different drummer. Let him step to the music which he hears, however measured or far away.”
“My approach was to hire, train, test, and then fire or promote quickly, so that we could rapidly identify the excellent hires and get rid of the ordinary ones, repeating the process again and again until the percentage of those who were truly great was high enough to meet our needs.”
“Remember that in great partnerships, consideration and generosity are more important than money.”
“Remember that the only purpose of money is to get you what you want, so think hard about what you value and put it above money. How much would you sell a good relationship for? There’s not enough money in the world to get you to part with a valued relationship.”
“I also feared boredom and mediocrity much more than I feared failure.”
“Managers who do not understand people’s different thinking styles cannot understand how the people working for them will handle different situations.”
my notes The most painful lesson that was repeatedly hammered home is that you can never be sure of anything: There are always risks out there that can hurt you badly, even in the seemingly safest bets, so it’s always best to assume you’re missing something. This lesson changed my approach to decision making in ways that will reverberate throughout this book—and to which I attribute much of my success. But I would make many other mistakes before I fully changed my behavior.
I believe that all organizations basically have two types of people: those who work to be part of a mission, and those who work for a paycheck. I wanted to surround myself with people who needed what I needed, which was to make sense of things for myself. I spoke frankly, and I expected those around me to speak frankly. I fought for what I thought was best, and I wanted them to do so as well. When I thought someone did something stupid, I said so and I expected them to tell me when I did something stupid. Each of us would be better for it. To me, that was what strong and productive relationships looked like. Operating any other way would be unproductive and unethical.
find this is just as true for relationships as it is for investments—wise people stick with sound fundamentals through the ups and downs, while flighty people react emotionally to how things feel, jumping into things when they’re hot and abandoning them when they’re not.
I got a lot out of my bad times, not just because they gave me mistakes to learn from but also because they helped me find out who my real friends were—the friends who would be with me through thick and thin.
reminded me that when faced with the choice between two things you need that are seemingly at odds, go slowly to figure out how you can have as much of both as possible. There is almost always a good path that you just haven’t figured out yet, so look for it until you find it rather than settle for the choice that is then apparent to you.
as surrendering to them. It’s the first step toward overcoming them. The pains you are feeling are “growing pains” that will test your character and reward you as you push through them.
Radical open-mindedness is motivated by the genuine worry that you might be wrong 3.3 Appreciate the art of thoughtful disagreement. Triangulate your view with believable people who are willing to disagree. Believability Weight Your Decision Making 5.1 Recognize that having an effective idea meritocracy requires that being radically truthful and radically transparent with each other makes both the work and the relationships go better. By 2.1 Be loyal to the common mission and not to anyone who is not operating consistently with Make sure people give more consideration to others than they demand for d. Lead the discussion by being assertive and open-minded. Reconciling- aka need to be a leader as assertive, but also willing to explore your weaknesses, and wanting to find the trut the most important thing is that you get the concept. Simply look down on yourself and your team when a decision needs to be made and consider who is most likely to be right. I assure you that, if you do, you The dilemma you face is trying to understand as accurately as you can what’s true in order to make decisions effectively while realizing many of the opinions you will hear won’t be worth much, including your own. Think about people’s believability, which is a function of their capabilities and their willingness to say what they think. Keep their track records in mind. a. It’s more important that the student understand the teacher than that the teacher understand the student, though This phenomenon is called the narcissism of small differences. Use “double-do” rather than “double-check” to make sure mission-critical tasks are done correctly. Double-checking has a much Look for creative, cut-through solutions. When people are facing thorny problems or have too much to do, they often think that they need to work harder. But if something seems hard, time-consuming, and frustrating, take some time to step back and triangulate with others on whether there might be a better way to handle it. Of course, many things that need getting done are just a slog, is happening to you now, wait a bit and it will. That is just reality. My approach to life is that it is what it is and the important thing is for me to figure out what to do about it and not spend time moaning about how I wish it were different. Winston Churchill hit the nail on the head when he said, “Success consists of going from failure to failure without loss of enthusiasm.” You will come to enjoy this process of careening between success weight simply because they understand why it’s beneficial for them to do it. It won’t happen until the proper habits are developed. In organizations, that happens with the help of tools and protocols. a form or a template to help guide people through the steps required for them to manage their work or carry out a process will yield better results than expecting them to just remember—or figure it out—on their own. to others, confusions about decision rights arose. After conferring with some of the world’s greatest experts on governance, we put a new system in place based on these principles. Still, I want to make clear that I don’t consider myself an expert on governance and can’t vouch for the following principles as much as I can vouch for the previous ones, because they are still new as of this writing. against the government, defeated his fellow general Pompey, seized control of the Republic from the Senate, and named himself emperor for life. Even after he was assassinated and governance by the Senate was restored, Rome would never again be what it was; the era of civil strife that followed was more damaging than any foreign war. believe Pain+Reflection=Progress. In other words, pain is an important signal that there is something to be learned, and if you reflect on your pain well, you will almost always learn something important. That prompted me to create the Pain Button.
— interesting points:
- is ray dalio right, or is he just using money to prove he’s right