“I would love to be paid purely for my judgement, not for any work. I want a robot, capital, or computer to do the work, but I want to be paid for my judgement.” – Naval Ravikant
Relate with infinite leverage memos and notes—that there is no infinite leverage, that growth (viz., size) has its limits (e.g., see 1-2g2s7b3 An explanation for how something really works cannot rely on infinity).TODO
Henry Ford built his wealth via mass-production.
Milan became the fashion capital of Italy due to its production capacity, in contrast to Florence whose focus was on handmade items.
Digital product is easier to mass-produce than physical product. But be it digital or physical, you need the brand—prioritize avoiding commoditized businesses.
And if you want to keep at it, you have to become the low cost operator (e.g., see Henry Ford and Sam Walton).
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Related:
- 2-1a6 ‘Incentives’ - Incentives drive (almost) everything. Understand your incentives.
- 2-1b2b1a Get your incentives right from the beginning
- 2-3b ‘Leverage’ - The effort put in and its utility-results doesn’t have to correlate at all. Use this to your advantage.
- 5-1b1b2b Don’t try to be the best. Be the only.
- 5-1b1a8d Knowledge doesn’t automatically make us wise—the most learned are not the wisest (or the richest)
- 7-1a5 Startups work on technology because great ideas made viable by newest tech (itself a new technology) is the best source of rapid change and growth
- AN3C - A restaurant can afford to serve the occasional burnt dinners. In tech, you cook one thing and that’s what everyone eats.