2-1a7a1 (1) Increase your productivity; (2) Don't let your income increase faster than your productivity; (3) Don't let your debt increase faster than your income

(1). 2-1a7a Curiosity (i.e., the Fun Criterion) leads you to wealth, because wealth is knowledge
7-1a4a1 Wealth created ≠ the P&L of a business. Remember - you get what you measure.
2-1a7a2 Assets with actual substance or weight have the best prospects over the long term

(2). 5-2a Check your growth rate of expectations vs circumstances. The former is hard to measure. But remember - you get what you measure.

(3). 2-1b2b6 Don’t borrow against your securities
2-1b2b5 Know the correlations between your bets. Holy grail is fifteen or so uncorrelated bets.
2-1d ‘Ecosystem’ & ‘Thermodynamics’ & ‘Double-entry bookkeeping’ - Everything is connected, there is no free lunch, 10-2g2c0e Synechism - the idea that everything is connected and nothing can be understood in isolation

• Productivity growth matters in the long run and it doesn’t fluctuate much

  • 5-2c2b0 The truer and deeper the idea is, the more likely it will survive criticism, change in society, and withstand unpredictable consequences brought about by itself
    • It doesn’t influence the economy in the short rundevelop
      • 5-1b4a Amara’s law - we expect too much in the short-run, but too little in the long-run
      • 3-1d6c Amara’s law modified - we underestimate the importance of consistency in the short-run, but overestimate in the long-run

• People spend rather than pay back debt

  • Debt rises faster than income
    • The question is why?
      • Ray Dalio: “It’s human nature.”
        [There is no human nature, however!]
        1-1a2a There is no human nature if by this we mean a kind of a priori knowledge common to all and only to humans
    • And whether technology (blockchains) can address this problem!developSpitznagel