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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& #39;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& #39;t, pays it." — Albert Einstein
It affects:
Your health
Your money
Your relationships
Your reputation
Your abilities
2/
Take this legendary exchange from Hemingway& #39;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& #39;s The Sun Also Rises:
“How did you go bankrupt?” Bill asked. “Two ways,” Mike said. “Gradually, then suddenly.”
3/
Most of us haven& #39;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& #39;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& #39;re building on the internet is a massive blindspot.
Here& #39;s a real example from the @visualizevalue business:
Underestimating the power of network effects when you& #39;re building on the internet is a massive blindspot.
Here& #39;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& #39;s no chance we would& #39;ve seen these results.
Had we attempted to sell product out of the gate without building reputational equity, there& #39;s no chance we would& #39;ve seen these results.
7/
This is one of 40 guiding concepts I& #39;ve leveraged to build an independent, high-margin, digital business.
For the other 39, have a gander at this: https://bit.ly/33OXCVv ">https://bit.ly/33OXCVv&q...
This is one of 40 guiding concepts I& #39;ve leveraged to build an independent, high-margin, digital business.
For the other 39, have a gander at this: https://bit.ly/33OXCVv ">https://bit.ly/33OXCVv&q...
