Each generation has its own consensus and emotional value.

If you take out a stamp, but nobody wants it, it carries no emotional value; if you take out a card that people want, then it does.

They have it, you don't—you want it, so you pay more, and they win.

Once people are full, they start chasing emotional value. Each generation's consensus shapes what its emotional value is.

What Kind of Talent Does Education Select

People with emotionally precocious minds: those who understand life purpose, social positioning, and when to advance or retreat at a very young age.

There are two traits that society recognizes in people.

One is something only you can handle—no one else can. That’s your talent.

The other is being precocious.

Do you accept that advantages and disadvantages are just two sides of the same coin?

For example, stability is a double-edged sword. It's an advantage, but also a disadvantage.

Stability means you won't make mistakes, and it won't actively shut you down. But thinking the other way around, it also means your sunk costs are high. It won't kill you, but if you try to kill it, your losses will be huge.

Places where it's easy to make money always have high consumer costs, and places with low consumer costs will never be easy money.

Failure is also experience.

Would you rather believe in a failure who once reached a certain height? Or would you trust that bunch of keyboard warriors?

He's clearly a loser, even burdened with huge debts, yet new investors are still willing to fund him and let him keep doing business. Why? Because these people want to buy at the bottom.

In life, the process of drawing lessons from experience is far more important than the experience itself.

The Differences in Real Estate Investing

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