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1/n When I graduated high school, I went into Political Science and Economics instead of business to learn to study systems and people.
Initially, I started to think that was a mistake. In my 1st summer, I took Damodaran& #39;s MBA valuation course. I taught myself accounting.
Initially, I started to think that was a mistake. In my 1st summer, I took Damodaran& #39;s MBA valuation course. I taught myself accounting.
2/n I was always worried about being not technically up to snuff with the b-school kids. So outside of school, I taught myself excel. I drilled investment banking prep. I read every finance book I could find. I ended up teaching business school kids finance.
3/n I focused my schoolwork on the intersection of economics and politics. I wrote a paper on derivatives regulation. The last paper I wrote for a seminar was using $FMCC and $FNMA as examples of how a judiciary was needed to rectify niche cases of minority rights infringement
4/n Anyways, point is, I had originally wanted to study people. As I went through, I thought that was a mistake and beefed up my technical skills.
But now, I think Grade 12 me was right.
But now, I think Grade 12 me was right.
5/n We& #39;re here to build wealth. That& #39;s it. It& #39;s very simple.
Any building of wealth is, at its core, about people. Leading people, understanding people, fighting/competing against people, selling people what they want or making people realize they want what you& #39;re selling.
Any building of wealth is, at its core, about people. Leading people, understanding people, fighting/competing against people, selling people what they want or making people realize they want what you& #39;re selling.
6/n And I think that gets lost, especially in an age where more of what we do is removed from people (ie online/digital). We talk about business models and free cash flow. Those are outputs. Those are stories told by businesses that are just collections of (drum roll): people.
7/n And I don& #39;t think that& #39;s ever going to change. Wealth building will ALWAYS be about partnering with good and smart people who know how to use, manipulate, outwit, lead, and satisfy other people.
I think that gets lost.
I think that gets lost.
8/n I know when I read a transcript or meet a CEO, there are the guys that are average. There are the guys that are dumb.
And there are the guys that make my eyes light up and my heart skip beats because I realize they& #39;re in the tribe.
And there are the guys that make my eyes light up and my heart skip beats because I realize they& #39;re in the tribe.
9/n The great CEO& #39;s are about more than money, they are about building, creating value (which goes beyond money), and money is a score or a byproduct. The biggest things in the world happen outside of the need for money.
They happen because of people.
They happen because of people.
10/10 Emotional, egotistical, lazy, arrogant, loving, funny, people. Things happen, the world moves, free cash flow happens, because of people.
So learn to get great at studying people.
So learn to get great at studying people.