It’s the belief that you’re unworthy as you are right now, and that you must earn the right to live through hard work.
Whether one business model can reach 100 million users or just 10,000 makes a huge difference in your profitability. That's the leverage game.
When you can add leverage, the time horizon moves faster; when you can't, it moves slower.
As you reach different positions, your understanding shifts accordingly—invest in what you truly understand.
If you've gone further than anyone else in a particular field, that's what you know—your base. When you stay within your base, you win no matter how you fight. That's what it means to understand something.
That little bit you know is your core—and from there, the snowball of your life can start rolling. A snowball needs a core to roll; without one, it just rolls away and disappears.
The top performers in almost every area of life are basically wolves.
To discover the inherent value of things, and based on that, be greedy when others are fearful. No asset can stay far detached from its true value indefinitely. And based on that, be fearful when others are greedy.
What you understand isn't the key—it's how deeply you understand it that matters.[