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@adamhaluska
Brutally Honest Advice to My Younger Poorer Self | Ep 629
Whose advice to take - The 7 levels
AI Key Takeaways
- No one's afraid of failing, they're afraid of what other people will think of them when they fail.
- Consider what those other people think of you when you're not even trying.
- If they don't have what you want, don't listen to what they say.
- Having what you want is a strong evidence point that decreases the risk of their advice.
- Listening to people who can give you advice that can get you there faster is the fastest way to move forward in life.
- Avoiding unnecessary suffering and time waste by learning from others' lessons allows for faster progress.
- Create a system of weighing advice to determine who to trust.
- At the lowest level, comments on social media from strangers who don't know me and don't have what I want.
- People giving their opinion who know me but don't have what I want.
- Individuals who know me and know someone who has achieved what I am aiming for are at the fifth level of advice hierarchy.
@adamhaluska
Brutally Honest Advice to My Younger Poorer Self | Ep 629
Difference between Safness and Anxiety
AI Key Takeaways
- Sadness comes from a lack of options and hopelessness.
- Anxiety comes from many options and a lack of priorities, leading to paralysis.
- Looking everywhere but moving nowhere solves sadness with knowledge and anxiety with a decision.
- Understanding the difference between sadness and anxiety can be life-changing.
- Sadness stems from a lack of options, while anxiety stems from a perceived lack of option.
- Disappointment can be addressed by either changing expectations or changing reality.
@adamhaluska
Brutally Honest Advice to My Younger Poorer Self | Ep 629
Haters behind you are just envy
AI Key Takeaways
- Take other people's hate as envy and disregard it.
- Envy is desiring something someone else has, while jealousy is fear of losing what you have.
- Envy is about what you lack, jealousy is about what you have.
- Consider hate as feedback, but evaluate its validity.
- Feedback can be worth taking into consideration.
@adamhaluska
Brutally Honest Advice to My Younger Poorer Self | Ep 629
Winners focus on Winning
AI Key Takeaways
- A significant mistake was made by the speaker in their career, which resulted in a loss of approximately $25 million.
- The speaker vowed to never let a competitor control their behavior.
- Winners prioritize winning, while losers prioritize their competitors.
- Competitors often focus on copying others, instead of paying attention to their own customers.
- Being copied by others signifies success and being on the right track.
- The speaker does not consider copying as a threat, but rather as validation of their path.
@adamhaluska
Brutally Honest Advice to My Younger Poorer Self | Ep 629
Skills as Income Insurance: Skills > Assets
AI Key Takeaways
- Losing everything led to the realization that skills are more valuable than physical assets
- Investing in skills provides income insurance and the ability to make money
- Work-life balance should be viewed on a longer time horizon, like a seven year cycle
- The goal should be to never retire from work, but to find fulfilling work
@adamhaluska
Brutally Honest Advice to My Younger Poorer Self | Ep 629
Entrepreneurship = Uncertainty
AI Key Takeaways
- Building a reputation for a restaurant and hiring good talent is similar to hiring development engineers and creating a prototype.
- Comparing the payout of three slot machines, one with a billion dollar payout, one with a 10 million dollar payout, and one with a hundred thousand dollar payout, reveals people's tendency to choose the smaller payout.
- The timeframe in which a slot machine pays out affects people's decision-making, even if the odds are the same.
- The uncertainty of whether a venture will succeed is what makes entrepreneurship challenging and not suited for those who are risk-averse.
- Entrepreneurship is characterized by the willingness to embrace uncertainty and the unknown outcome of the work involved.
@adamhaluska
Brutally Honest Advice to My Younger Poorer Self | Ep 629
Entrepreneurship expectations vs reality
AI Key Takeaways
- Sitting in uncertainty is a common feeling for entrepreneurs.
- Many entrepreneurs fail because they are in a rush and make poor decisions.
- Hopping from one thing to another guarantees that entrepreneurs will never succeed.
- Our culture rewards speed, but entrepreneurship is the opposite of fast and easy.
- Entrepreneurship requires hard work, patience, and persistence.
- The language around entrepreneurship needs to shift to reflect its challenges.
- Many people are drawn to the promise of quick and guaranteed success in entrepreneurship.
@adamhaluska
Brutally Honest Advice to My Younger Poorer Self | Ep 629
When u Work for yourself you are getting paid on what u do
AI Key Takeaways
- A lot of people need permission to have first drafts
- Working harder requires putting in more hours
- Some people get scared when confronted with a significant amount of effort
- Working for oneself means getting paid based on performance
- Vacations for entrepreneurs may not feel like work
- Having a clear output is necessary for a work day
- Delaying rewards for work can lead to better outcomes
@adamhaluska
#653 - George Mack - Stop Wasting Your Life On Things That Don’t Matter
The Opportunity Cost of Every Thought
AI Key Takeaways
- There is an opportunity cost for every thought.
- Avoid dramatic people as much as possible.
- Relentlessly prune unnecessary or unproductive things from your life.
- Anchor your thoughts and consider the opportunity cost of negative thought loops.
- Be hyper vigilant of the thinking cost and prioritize your thoughts.
@adamhaluska
#653 - George Mack - Stop Wasting Your Life On Things That Don’t Matter
Put Questions into subconscious to solve problems
AI Key Takeaways
- The creative solution has opened up a degree of productivity.
- Using a spinning wheel app can help in generating creative ideas.
- Collecting great questions and journaling on them can assist in coming up with ideas.
@adamhaluska
#653 - George Mack - Stop Wasting Your Life On Things That Don’t Matter
How to Reframe Cynicism and Pessimism
AI Key Takeaways
- Reframing cynicism and pessimism can help avoid falling into a negative mindset
- Many people mistake hardware problems for software problems in their lives
- Taking care of physical health can improve mental well-being
- Allowing oneself rest and sleep can help improve emotional state
@adamhaluska
173 - CZ & the State of Binance
Reducing Crypto Exposure for Emotional Stability - Importance of the Right Investment Size
AI Key Takeaways
- Sizing is important when investing in crypto
- Reduce exposure to crypto if investment affects emotions
- If investment affects emotions, probably invested too much
- Reduce half or by a third or fifth until emotions no longer affected
- Listen to oneself instead of others on Twitter
- Take note of percentage of assets being put into crypto
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