This podcast explores the difference between expiring and permanent skills, highlighting the value of the latter. It discusses the importance of interpersonal behavior in career success and emphasizes skills for personal and professional growth. The three important skills for success are adding value, accepting discomfort, and graceful exit strategies.
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Quick takeaways
Permanent skills compound over time, providing a deep well of relevant examples to study.
Adapting to changing views and embracing new strategies is crucial for long-term success.
Deep dives
The Timeless Wisdom of History
Throughout history, people's responses to events and their attitudes towards money, greed, and fear have remained remarkably consistent. Examples from the past, such as the anxieties of making and keeping money, disillusionment with wealth, and the importance of building financial stability, still resonate today. Whether it's an author's observations from 130 years ago or an account of a loan shark from 2000 years ago, the human experience remains consistent across time.
The Difference Between Expiring and Permanent Skills
Skills can be categorized into expiring and permanent skills. Expiring skills, while potentially important for current success, become obsolete over time due to technological advancements and societal changes. On the other hand, permanent skills have long-lasting relevance and compound over time. These skills, such as not being a jerk, adapting to changing views, getting along with those we disagree with, and respecting luck, are valuable throughout one's life and can significantly impact success and relationships.
The Power of Patience and Adaptability
In a rapidly changing world, the ability to adapt views, get to the point, respect luck and risk, stay out of the way when necessary, tolerate hassle and nonsense, and differentiate between temporary setbacks and permanent failure is crucial. By being patient and open to change, individuals can endure challenging times and position themselves for future success. Knowing when to gracefully exit old strategies and embrace new ones is a testament to wisdom and flexibility.
Expiring skills tend to get more attention. They’re more likely to be the cool new thing, and a key driver of an industry’s short-term performance. They’re what employers value and employees flaunt.
Permanent skills are different. They’ve been around a long time, which makes them look stale and basic. They can be hard to define and quantify, which gives the impression of fortune-cookie wisdom vs. a hard skill.
But permanent skills compound over time, which gives them quiet importance. When several previous generations have worked on a skill that’s directly relevant to you, you have a deep well of relevant examples to study. And when you can spend a lifetime perfecting one skill whose importance never wanes, the payoffs can be ridiculous. Anything that compounds over decades usually is.
This episode discusses a few permanent skills that apply to many fields.
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