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The Eighth Wonder of the World: (thread)
1/
"Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn't, pays it." — Albert Einstein
It affects:
Your health
Your money
Your relationships
Your reputation
Your abilities
"Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn't, pays it." — Albert Einstein
It affects:
Your health
Your money
Your relationships
Your reputation
Your abilities
2/
Take this legendary exchange from Hemingway's The Sun Also Rises:
“How did you go bankrupt?” Bill asked. “Two ways,” Mike said. “Gradually, then suddenly.”
Take this legendary exchange from Hemingway's The Sun Also Rises:
“How did you go bankrupt?” Bill asked. “Two ways,” Mike said. “Gradually, then suddenly.”
3/
Most of us haven't been patient enough to benefit from compound interest, and substitute our lack of personal experience for a lack of belief in the concept altogether.
The reality, however, is that many give up before compounding kicks in meaningfully.
Most of us haven't been patient enough to benefit from compound interest, and substitute our lack of personal experience for a lack of belief in the concept altogether.
The reality, however, is that many give up before compounding kicks in meaningfully.
4/
Underestimating the power of network effects when you're building on the internet is a massive blindspot.
Here's a real example from the @visualizevalue business:
Underestimating the power of network effects when you're building on the internet is a massive blindspot.
Here's a real example from the @visualizevalue business:
5/
A year of network building on the front-end, leveraging personal conversations into paid consulting and design gigs, while building up equity that can now be extracted as dividends via product sales (12 months later).
A year of network building on the front-end, leveraging personal conversations into paid consulting and design gigs, while building up equity that can now be extracted as dividends via product sales (12 months later).
6/
Had we attempted to sell product out of the gate without building reputational equity, there's no chance we would've seen these results.
Had we attempted to sell product out of the gate without building reputational equity, there's no chance we would've seen these results.
7/
This is one of 40 guiding concepts I've leveraged to build an independent, high-margin, digital business.
For the other 39, have a gander at this: https://bit.ly/33OXCVv
This is one of 40 guiding concepts I've leveraged to build an independent, high-margin, digital business.
For the other 39, have a gander at this: https://bit.ly/33OXCVv
