- Combination of frugality and paranoia
- Wealth is created by suppressing what you could buy today in order to have more stuff or options in the future.
- Realise that some of the wealth accumulated can be attributed to luck. So there is no repeatable formula for success
- The key word is survival, not growth or brains or insight
- The ability to stick around for a long time, without getting wiped out
- Stick around all the unpredictable ups and downs of life
- Sticking around will allow compounding to take effect to show its power
Keep this in mind 👇🏽
Link to originalWe assume that tomorrow won’t be like yesterday. We can’t afford to rest on our laurels. We can’t be complacent. We can’t assume that yesterday’s success translates into tomorrow’s good fortune.
- Michael Moritz, billionaire head of Sequoia