- Everything that matters is simple but not easy
- Patagonia’s Yvon Chouinard: “I believe the way toward mastery of any endeavor is to work towards simplicity. Replace complex technology with knowledge, the more, you know, the less you need. From my feeble attempts at simplifying, my own life. I've learned enough to know that. Should we have to or choose to live more simply, it won't be an impoverished life but one richer in all the ways that really matter.”
- Addition by subtraction
- Asymmetry with respect to ruling out vs ruling in. It is easier to recognize potential pitfalls than potential windfalls. (Munger : "We basically have the attitude that you can’t make a good deal with a bad person. We don’t try to protect ourselves by contracts or all kinds of due diligence – we just forget about it. We can do fine over time dealing with people we like and admire and trust.")
- Survive is easier than thrive. And a prerequisite. Avoid own-goals.
- Frugality is not about self-denial. It is a virtue when you see it as a way to survive. Being “hard to kill” makes you less compromised.
- Repetition
- Think of events as repeated games. "Teach a man to fish" is let your kids figure it out. Chris Rock doesn't want his kids going to schools without bullies because that conflict is low stakes learning and artificially removing it doesn't do the kids favors since the adult world they are heading towards does have bullies.
- “Reframing a decision as a bundle of future repeated actions gives a more accurate view. The goal is not to entirely avoid urges but to reframe them in a way that best accounts for their consequences.” - Gary Basin
- repetition: “Repetition is persuasive” — David Senra (a key to branding)
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