Getting Value

Getting Value

In the context of investing in businesses, this statement speaks to Buffett's notorious long-term view:

"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price." - Warren Buffett

While many of us think as value as synonymous with price – we are wrong. Value can only be truly evaluated long after a purchase is made.

Whether it's the quality of a product or the profitability of a company:

"Price is what you pay, value is what you get." – Warren Buffett

We can also extrapolate this idea beyond the concept of money:

Time, energy and effort is what you pay, [result] is what you get.

Getting Value by Visualize Value



Leverage is as much about where you are standing as how much force you are applying.

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.

The constraint we apply to package our idea determines their reach & resonance. "Make 1 decision to eliminate 1,000 decisions."

Labor is generally a more interchangeable resource than vision.

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.