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Part I: How to remember almost anything: the Anki system

Later, I do thorough reads of other key papers in the field ideally, I read the best papers in the field. Today, this is called the Ebbinghaus forgetting curve: They just represent a point at the far end of the curve. A startup is not merely ten people, but ten people like you, long way gone essay. If you have two choices, choose the harder. This is a pity.



Want to start a startup? Get funded by Y Combinator. If you wanted to get rich, how would you do it? I think your best bet would be to start or join a startup. The word "startup" dates from the s, but what happens in one is very similar to the venture-backed trading voyages of the Middle Ages.

Startups usually involve technology, so much so that the phrase "high-tech startup" is almost redundant. A startup is a small company that takes on a hard technical problem. Lots of people get rich knowing nothing more than that. But I think it could give you an edge to understand the underlying principles.

Why do startups have to be small? Will a startup inevitably stop being a startup as it grows larger? And why do they so often work on developing new technology? Why are there so many startups selling new drugs or computer software, and none selling corn oil or laundry detergent? The Proposition Economically, you can think of a startup as a way to compress your whole working life into a few years. Instead of working at a low intensity for forty years, you work as hard as you possibly can for four.

This pays especially well in technology, where you earn a premium for working fast. Here is a brief sketch of the economic proposition. You could probably work twice as many hours as a corporate employee, and if you focus you can probably get three times as much done in an hour.

Then there is one more multiple: Suppose another multiple of three. Like all back-of-the-envelope calculations, this one has a lot of wiggle room. But I stand by the structure of the calculation. Startups are not magic. They just represent a point at the far end of the curve. There is a conservation law at work here: For example, one way to make a million dollars would be to work for the Post Office your whole life, and save every penny of your salary.

Imagine the stress of working for the Post Office for fifty years. In a startup you compress all this stress into three or four years. If starting a startup were easy, everyone would do it.

How do I get to be a billionaire, like Bill Gates? Bill Gates is a smart, determined, and hardworking man, but you need more than that to make as much money as he has. You also need to be very lucky. There is a large random factor in the success of any company. So the guys you end up reading about in the papers are the ones who are very smart, totally dedicated, and win the lottery.

Certainly Bill is smart and dedicated, but Microsoft also happens to have been the beneficiary of one of the most spectacular blunders in the history of business: Microsoft at that stage had little leverage over IBM. They were effectively a component supplier. If IBM had required an exclusive license, as they should have, Microsoft would still have signed the deal.

It would still have meant a lot of money for them, and IBM could easily have gotten an operating system elsewhere. From that point, all Microsoft had to do was execute. They never had to bet the company on a bold decision.

All they had to do was play hardball with licensees and copy more innovative products reasonably promptly. There are a lot of ways to get rich, and this essay is about only one of them. This essay is about how to make money by creating wealth and getting paid for it. There are plenty of other ways to get money, including chance, speculation, marriage, inheritance, theft, extortion, fraud, monopoly, graft, lobbying, counterfeiting, and prospecting.

Most of the greatest fortunes have probably involved several of these. You just have to do something people want. Money Is Not Wealth If you want to create wealth, it will help to understand what it is.

Wealth is not the same thing as money. Far older, in fact; ants have wealth. Money is a comparatively recent invention. Wealth is the fundamental thing. Wealth is stuff we want: You can have wealth without having money. Wealth is what you want, not money.

But if wealth is the important thing, why does everyone talk about making money? It is a kind of shorthand: But they are not the same thing, and unless you plan to get rich by counterfeiting, talking about making money can make it harder to understand how to make money.

Money is a side effect of specialization. If you want a potato or a pencil or a place to live, you have to get it from someone else. How do you get the person who grows the potatoes to give you some? By giving him something he wants in return. If you make violins, and none of the local farmers wants one, how will you eat? The solution societies find, as they get more specialized, is to make the trade into a two-step process.

Instead of trading violins directly for potatoes, you trade violins for, say, silver, which you can then trade again for anything else you need. It works as a medium of exchange, however, because its rarity is guaranteed by the U. The advantage of a medium of exchange is that it makes trade work. The disadvantage is that it tends to obscure what trade really means. People think that what a business does is make money.

But money is just the intermediate stage-- just a shorthand-- for whatever people want. What most businesses really do is make wealth. They do something people want. There is, in any normal family, a fixed amount of money at any moment. When wealth is talked about in this context, it is often described as a pie. If one person gets more, someone else has to get less. I can remember believing, as a child, that if a few rich people had all the money, it left less for everyone else. Many people seem to continue to believe something like this well into adulthood.

This fallacy is usually there in the background when you hear someone talking about how x percent of the population have y percent of the wealth. What leads people astray here is the abstraction of money. Money is not wealth. So although there may be, in certain specific moments like your family, this month a fixed amount of money available to trade with other people for things you want, there is not a fixed amount of wealth in the world.

You can make more wealth. Wealth has been getting created and destroyed but on balance, created for all of human history. Suppose you own a beat-up old car. Instead of sitting on your butt next summer, you could spend the time restoring your car to pristine condition. In doing so you create wealth. The world is-- and you specifically are-- one pristine old car the richer.

And not just in some metaphorical way. In restoring your old car you have made yourself richer. So there is obviously not a fixed pie. And in fact, when you look at it this way, you wonder why anyone would think there was. But kids are so bad at making things that they consider home-made presents to be a distinct, inferior, sort of thing to store-bought ones-- a mere expression of the proverbial thought that counts.

And indeed, the lumpy ashtrays we made for our parents did not have much of a resale market. Craftsmen The people most likely to grasp that wealth can be created are the ones who are good at making things, the craftsmen.

Their hand-made objects become store-bought ones. But with the rise of industrialization there are fewer and fewer craftsmen. One of the biggest remaining groups is computer programmers.

A programmer can sit down in front of a computer and create wealth. A good piece of software is, in itself, a valuable thing.



PURSUIT OF THE Real, and escape from Reality.. An interpretation by Douglas Cooke, licensed Farina nut. i.) Background: The "Cornell School" Published April 28, , two days before Farina died in a motorcycle accident, Been Down So Long It Looks Like Up To Me became a cult favorite among fans of his music and eventually attracted the . How the Democrats Lost Their Way on Immigration. In the past decade, liberals have avoided inconvenient truths about the issue.

Total 2 comments.
#1 02.10.2018 03:51 Jshallo:
However, the author has successfully sprinkled!

#2 10.10.2018 17:34 Poke2f:
In general, a head note