By ofwisdomowl 
You might want to check Balaji’s suggested reading
Highlights
- Because all value becomes digital, the entire economy will eventually become the cryptoeconomy.
- If you are what you eat, then you think what you see. You are what you read.
- Your Simple Formula for Financial Independence. The less money you need, the less dependent you are.
- Don’t Argue. Build.
- The really cynical person and the really docile person have one thing in common: they never make bold moves.
- A good idea means having a bird’s eye view of the idea maze. Anyone can point out the entrance to the maze, but few can think through all the branches.
- Doing things as fast as you can often means doing them one at a time.
- It’s not the idea; it’s the execution
- Build Broadly Applicable Skills At each stage of life, I used my current skill and applied it in a new domain to learn another skill.
- Don’t just focus on economics alone, because you can over-optimize and distort financial metrics at the expense of health.
- The newest technical papers and the oldest books are the best sources of arbitrage. They contain the least popular facts and the most monetizable truths.
- Start, then learn. You have to learn while doing.
- Learning to code is more like learning to write than learning to read.
- Highs and lows are only obvious in retrospect. In the moment of action, there is only you breaking away from the crowd.
- History. The more history you read, the more you realize that the past is as surprising as the future.
Summary
Crypto is a spinal transplant for the tech industry. On disk → Online → On-chain. When you put information online, you get distribution, sharing, collaboration, etc. When you put it on-chain, you get immutability, verifiability, monetization, etc
Because all value becomes digital, the entire economy will eventually become the cryptoeconomy. Crypto allows free markets without corporations. Bitcoin at $500B as of 2023 is an industry. Bitcoin at $1T is a world power. Bitcoin at $10T would be the global government.
The last era was big data. The next era is verifiable data.
If you are what you eat, then you think what you see.
Building the Future. To get lucky, you must first take a chance.
Your Simple Formula for Financial Independence. The less money you need, the less dependent you are. Reducing your cost of living to ⅕x is way easier than increasing your net worth by 5x.
Don’t Argue. Build. Don’t argue about anything; just build an alternative. Build products based on truths many people can’t grasp. If it works, they’ll buy it. Their incomprehension is your moat
The point of doing a startup is to build something you can’t buy
The really cynical person and the really docile person have one thing in common: they never make bold moves.
Founding
Don’t do a startup unless you’re ideologically driven to make it succeed. You need something beyond economic motivation. There are much lower-risk ways to earn money than a startup. You have to believe it can become much bigger than it is.
A good idea means having a bird’s eye view of the idea maze. Anyone can point out the entrance to the maze, but few can think through all the branches. A strong new plan for navigating the idea maze usually requires an obsession with the market and a unique insight others have not had.
Launching
This is the most challenging thing to do as an entrepreneur, but it’s also absolutely necessary: hire people who are better than you.
Leaders should focus on creating, quantifying, and communicating alignment as much as possible. Doing so is complementary to daily management. Alignment is why people do things even without assigned to-dos.
Executing
In terms of execution heuristics, perhaps the best is Peter Thiel’s “one thing.” Everyone in the company is responsible for one thing. Each person should at all times know what their one thing is, and everyone should know everyone else’s too.
Doing things as fast as you can often means doing them one at a time.
It’s not the idea; it’s the execution.
Build Broadly Applicable Skills At each stage of life, I used my current skill and applied it in a new domain to learn another skill. I never started completely at zero; I was always building from a previous skill.
Don’t just focus on economics alone, because you can over-optimize and distort financial metrics at the expense of health.
What you choose to load into your brain first thing in the morning is the most precious, precious space. Perhaps your first few hours should be offline with pen and paper, writing things out. Some offline time is good.
Learning to Learn Well
The newest technical papers and the oldest books are the best sources of arbitrage. They contain the least popular facts and the most monetizable truths.
You are what you read.
Start, then learn. You have to learn while doing.
Learning to code is more like learning to write than learning to read. Everyone should learn to code because: (1) it’s not that hard to learn the basics, (2) it’s useful even if just doing Excel macros, and (3) it’s valuable in every country.
Highs and lows are only obvious in retrospect. In the moment of action, there is only you breaking away from the crowd.
History. The more history you read, the more you realize that the past is as surprising as the future