If you are building something, it is far more useful to focus on the work you are doing to produce the result than the result itself.
To help understand this idea, consider the contrast between the two concepts ancient Greeks used to think about time.
It should be relatively simple to identify when we aren't accumulating net new experience, but in practice, it doesn't seem to be.
Language is an incredible tool. It makes it possible for us to externalize what we think and communicate it to others.
"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price." - Warren Buffett
To make progress, we must solve harder and harder problems in sequence.
Our ability to specialize, design goods and services, and trade amongst ourselves is the driving force behind a macro trend of exponential increases in quality of life.
What we learn when we do something wrong doesn't just apply to the situation that taught us, it helps us build models for interpreting and responding to reality in general.
Over long periods of time, building and betting can both be positive-sum games.
Learning is like climbing an infinite ladder.
We're conditioned to think of a single percentage point as an almost non-consequential gain. In conventional wisdom investing, 1% would be laughed at.