Stick to first principles
Warren Buffett recently said Berkshire’s ~3,400,000% returns came from 12 decisions over 50+ years.
One decision. Every five years. Think on this.
Our brains struggle to compute how?!
How was it not the result of thousands and thousands of decisions?!
Buffet’s example is the ultimate example of “thinking in bets.” (Great book BTW)
But it’s not some exception to the rule; it IS the rule. A first principle.
Like the “Pareto Principle.” Which states that in a natural state, 80% of output comes from 20% of input.
I’ve had multiple conversations with my co-founder and seen conversations started by my colleagues where I felt compelled to share this.
Don’t. Fight. First. Principles.
Progress, growth, and change come naturally, of course.
But epic shifts, life-changing choices, or market-moving moments are not merely the sum of all input.
No, not at all.
They come from the few, the unseen, the rare.
Startups are all about 10 steps back, and 11 steps forward.
Unless you can make 11-step choices, you’ll never be the few; you’ll be the many.
Be the few.
