I was recently struck by a realization: The people I read books about are very rarely the people I would ever want to trade lives with. Why? The price of their success was not one I would be willing to pay.There is a price tag for anything you want to achieve in life. Every single thing you want is an output that requires certain inputs to buy or earn. There's a "list price" (actual, direct price to pay for the thing you want) and a "real price" (List Price, plus the hidden, indirect price in the form of the tradeoffs and opportunity cost of the pursuit).What I've learned: There are many things in life that look like a great deal based on the List Price, but a ripoff based on the Real Price.Questions to ask: What is the List Price of the thing you want? What is the Real Price of the thing you want? Are you willing to pay that Real Price?

Question: If I repeated this day for 100 days, would my life be better or worse?Framework: The 5 Second Rule.

Welcome to the second half of 2023. If you've kept up your New Year's resolutions and feel on track, great! If not, that's ok, because even if the best time to start was 6 months ago, the second best time is today.Today, I'd like to share a distillation of my 10 favorite ideas from the 52 newsletters I've written so far this year.The ideas covered: Spotlight Effect, 1-1-1 Method, Eisenhower Matrix, Surfer Mentality, Feynman Technique, 4 Types of Luck, Trap of the Extraordinary, Character Invention, Think Day, and Time Billionaire.

Question: What would this look like if it were easy?Framework: The wind and the sun.

A mental model is a way to think about the world. It is a tool—a lens through which you can simplify, evaluate, and make decisions in real time as you walk through life.When faced with any key decision, you effectively choose one of two potential characters: Investor or Borrower. The Investor is a long-term thinker who makes an investment to delay gratification, while the Borrower is a short-term thinker who takes out a loan to experience pleasure now.Investments compound positively and the future self cashes in on the rewards. Loans accrue interest negatively and the future self is stuck with the bill.

This is the first in a new series of shorts that will cover one question and one framework to get you thinking heading into the weekend.Question: What are the elements of your ideal life at 80-years-old?Framework: Self-Handicapping (and how to avoid it). 

What have you changed your mind on recently? Egocentric Bias says that we convince ourselves of the accuracy of our own personal perspective—that we view ourselves as unimpeachable—and therefore struggle to acknowledge any perspectives or data that may alter our understanding of the world.The parable of The Blind Men and The Elephant tells the story of six blind men who examine one part of an elephant and each come to very different conclusions on what an elephant is. They are all partly right, but also all entirely wrong.The information you have about the world represents a tiny fraction of the information available, yet you use it to form a view of how the world works.Remember the Blind Men Razor: "Never attribute to malice, ignorance, or stupidity that which can be adequately explained by different information."

Confession: I am a nervous public speaker. But confident public speaking is a critical skill, so we need a set of strategies to increase our confidence and perform as the best version of ourselves.Prep Strategies: (1) Study the best speakers and learn from them, (2) Create a clear storytelling structure, and (3) Build "lego blocks" but avoid rote memorization.Pre-Stage Strategies: (1) Address the Spotlight Effect and ask "so what?" about your worst fears, (2) Get into character and turn on the best version of yourself, and (3) Eliminate stress with a simple breathing technique.Delivery Strategies: (1) Cut the tension in the crowd at the outset, (2) Use big, broad gestures and avoid touching your pockets or torso, and (3) Move with purposeful, slow steps.

In the early 1970s, Stanford psychology researcher Dr. Mark Lepper conducted a study with a group of young children that found those who had received a reward for completing a task experienced lower intrinsic motivation to perform that task in the future.The Passion Paradox: We have a deep desire to chase our passions, but by chasing them, we may actually reduce our passion for them.Three strategies for escaping the paradox: (1) Keep play as play, (2) Let work be work, and (3) Make work more playful.

You're firing on all cylinders personally and professionally—inspired and motivated. Then, suddenly, you aren't. Things become very, very difficult. You're in a rut.I've developed a useful set of principles for managing these swings and working out of them. My three-step method to work out of a rut: (1) Stop digging, (2) Change direction, and (3) Create movement.Ruts will happen. When they do, slow down and allow yourself to work through them. The worst thing you can do is push the engine harder and risk taking yourself out of the game for a longer period than if you had worked through it.