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“ ”There are a lot of great investors in the world, hedge fund guys that make a lot of money. But they have very little purpose. They don’t create anything tangible, fix anything, or provide a service. On the other hand, there are incredibly important roles in society that are underpaid but deeply respected. The variables in this equation are: - Value created → what you contribute to society - Value awarded → how the market values the work - Value captured (by you) → how much you earn
Additional quotes by Eric Jorgenson
Distinguishing social consensus from truth is really important because they’re not the same.
If you’ve got a fuzzy basket of ten or fifteen different priorities, you’re going to end up getting none of them.
You cannot automate something until you’ve done it manually many times. Control all of the factors and show technology cuts costs. Remember, for many legacy companies, information technology is only a cost center. They only adopted the code. You were born in it, molded by it. A full-stack entrant into a new vertical is formidably protean. You can morph your product just by hitting keys. Tesla’s over-the-air updates for its cars are a fantastic example.