hide

Read Next

Roughly What You Deserve

Back when I was gambling professionally, it seemed like everyone had an opinion on which casino was rigged. I never really thought that, but I also didn't really think that I was winning as much as I was supposed to. To test this, I recorded every single session I played for over a year. Guess what? I was within a fraction of one percent from where I was supposed to be statistically. I learned that not only were the casinos not rigged, I wasn't very good at mentally aggregating lots of independent events.

I think that in real life, we all have a natural inability or unwillingness to accept that we generally receive what we deserve. Before I get into this, though, I'll say that it definitely isn't true all of the time. I offer the idea here just a useful tool and framework, not to pass judgement. For example, I know people who have lost close family members, people who have been raped, and people who have been affected by other horrible things. I don't think that they deserve those things or earned them in some way. I think they're an unfortunate side effect of the chaos and variance of life, which is otherwise a good thing.

When I was around twenty, I knew for a fact that I would become rich by the age of twenty-five. Twenty five was really old and I knew that I was special, so it made perfect sense to me that I'd be rich by then. I put in a moderate amount of effort, and made moderate progress towards my goal, but didn't really even close. When I turned twenty five, I was at least a little bit surprised that I wasn't a millionaire yet.

I'm still not a millionaire, but I'm not surprised about it anymore. I've seen people work harder than me and work smarter than me and become rich. I've seen the dedication it takes, and I've seen how that compares to what I have typically put in.

A Job, or Entrepreneurship Right Now?

On SEBASTIAN MARSHALL

Should you get a job right now, or jump into the deep end with your own company? That's today's question from a reader: 

"I've gotten a few offers with startups run by very smart and successful people and am torn between working for a bit, learning and making some money vs hustling on the side to bootstrap my company. What do you think are the potential downsides (if any) to trying to hustle my way to bootstrapping my startup? What do you think would be the potential positives of taking a job?"

I've never had a job, so I'm biased. If you can afford it, the skills of working for yourself translate very well into the continued skills of working for yourself. The advantage of a job though, are (1) you get paid to learn the domain knowledge from people who already get it, (2) you get to see well-running policies and structures in practice which can be a huge-time saver later, and of course (3) you're more guaranteed to get enough pay to stabilize or build up a bankroll.

Of course, #2 can be as much of a curse as a blessing, because you can learn "the way things are" and not imagine to do bigger/better later. Most of the times it's more work re-inventing the wheel, but if you're creative you'll frequently improve upon past designs of people.

Rendering New Theme...