3-1a4b1.3 Your circle of competence can be widened, deepened, made clearer

You can widen (or deepen, or clarify) your circle of competence (i.e., your conception of reality) gradually and reflexively.reflexivityrevisit

Related:

• Do it before ready
  • 1-1a2a4 The flexibility of humans are found particularly in the tacit knowledge
• Test constantly
  • 1-1a5b2 Launch means criticism. It’s an equivalent to experimental testing in science.
  • 1-2g2c1 Testability matters only when you have a good explanation (hard-to-vary explanation)
• 1-1a5b4.4 Real-time calibration (i.e., recalibration) lets you adapt to the changing landscape
• 1-2f1b9 Repeat what works
• 5-2b5 Theories precede data
• 5-2b6 Theories need data
• The widening process has to be reflexive with reality (i.e., you have to continually test your hypotheses via recalibration), just like how children acquire cultures and languages:
  • 10-1b4 Children concentrically embody their ever-widening knowledge structures by testing the degree of its correspondence in comparison with other members of the society
    • 10-1b4a Learning is imitation and testing
    • See Li Lu on reflexivity between learning and buying stocks
    • One implication (for question like how much should one know about coding architecture before building?): learn as you build—that is, do it before ready.
• You can balance Benjamin Franklin’s advice—when in doubt, don’t—with errors of omission (i.e., the risk of not doing anything) by avoiding the risk of ruin via digitizationrevisit
  • 1-2f1b2 Composability allows incremental piecemeal error-correction
  • 2-1b2b2 ‘Multiplying by zero’ - Be risk-prone but avoid ruin at all cost
  • 2-1b2b2.1 Life is a multiplicative game—take advantage of network effects but avoid the risk of ruin
  • 9-4b3b1 Popper - ‘We let our ideas die in our place’ (another difference between memes vs genes)
  • 10-1b4f Digitization implies displacement and composability
• E.g., Henry Singleton learned as he acquired, and he acquired more as he learned more:
  • 3-1d1 We must start with our own peculiar constraints
  • 4-1a4b6b0 We can make almost anything happen (in the way we want) regardless of contextual constraints because we can tweak everything (in piecemeal engineering fashion) by using symbols
  • 7-1a4b Understanding the measurement-constraints amounts to understanding the system-incentives. That is, creating explanations.
  • Li Lu argues the same—he often learns more about the stock after the purchase (and then he might end up buying more shares)
    • 6-3b When you own something, you have an incentive to invest in it