Shane Parrish (@shaneparrish)

Try to be less wrong. "If you start with the position that I am already wrong, I don’t know everything, something that I believe right now is off, but I’m trying to become less wrong, then you’re more in a position where you’re trying to learn and less in a position where you’re trying to defend." ...

One of Munger’s most famous quotes is simple: “Show me the incentive and I’ll show you the outcome.” Munger offered three antidotes for receiving advice from professionals. 1. “Especially fear professional advice when it is especially good for the advisor.” 2. “Learn and use the basic elements of...

Lessons from Mary Kay Ash, the greatest saleswoman in history: 1. Golden Rule Leadership: The Golden Rule is one of the world’s oldest and best-known philosophies, yet it’s frequently overlooked in business circles. Mary Kay proved this rule is still powerful in today’s complicated world. 2. You B...

Fred Smith read 4 hours a day. Every day. Newspapers, magazines, books on management, journals on technology, and histories of American commerce. “Particularly information about change,” he explained, “because from change comes opportunity.” Reading is such a cheat code for outliers. Charlie Mung...

Jim Clayton was forced into bankruptcy at 27. The very next day he started from zero building Clayton Homes into a mobile homes juggernaut, eventually selling to Berkshire Hathaway for $1.7 billion. This is his story and the playbook he used to start over and build something massive. Here are some...

Lessons from my conversation with Tracy Britt Cool 1. Everything is capital allocation. Your primary job is time allocation. Every decision is a resource allocation. You can ruin a good business with poor allocation. All decisions are investment decisions. 2. Structure creates outcomes. Everyone s...

32 highlights and takeaways from my research and conversation with Tracy Britt Cool. 1. Everything takes longer and is harder than you think. 2. Problems need to be solved at the right level. 3. The source of all bad decisions is blind spots. 4. It's not work if you love it. 5. Find people wit...

Hetty Green was the richest woman you’ve never heard of. Here are 29 ideas I took away from this episode and my research you can use. 1. “I buy when things are low and nobody wants them. I keep them until they go up and people are crazy to get them.” 2. Position beats prediction. Always keep ca...

Don’t treat your job as a stepping stone to something bigger and better. When talking about how to get ahead, Charlie Munger put it this way: "It's the work on your desk. Do well with what you already have and more will come in." If you think of your job as a stepping stone, you'll never be real...