October 13, 2024 | #598 | read on fs.blog | Free Version

Welcome to Brain Food, a weekly newsletter full of timeless ideas and insights you can use in life and work.

Tiny Thoughts

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Copying others doesn't work because success without substance doesn't last.

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The path to differentiated results looks like madness to the masses. As the adage goes, if you do what everyone else does, you'll get the same results everyone else gets. Extraordinary success requires misunderstood choices.

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Bill Gates once had the radio removed from his car. When asked why, he said he didn't want any distractions from thinking about Microsoft. This level of single-minded focus is what builds empires.

Distractions are the assassins of great work. You don't need more time; you need more focus.

Time expands when we eliminate interruptions—our attention, not the clock, ultimately limits what we can achieve.

Insights

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Thomas Mitchell on finding the joy in everything:

“One of the best secrets of a happy life is the art of extracting comfort and sweetness from every circumstance.”

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A reminder from Robert Blake that being clear (direct) is kind:

“I was angry with my friend; I told my wrath, my wrath did end. I was angry with my foe; I told it not, my wrath did grow.”

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Glenan Doyle on being sensitive:

“The opposite of sensitive is not brave. It’s not brave to refuse to pay attention, to refuse to notice, to refuse to feel and know and imagine. The opposite of sensitive is insensitive, and that’s no badge of honor.”

Mental Model

V4 | Economics | Supply and Demand

"Supply and demand are the push and pull determining availability and price. Their dance is never-ending. A sudden shortage can send prices soaring; a discovery can send them crashing.

But supply and demand aren’t just about price; they’re also about allocation. They determine who gets what and how much of it.

Markets react to supply and demand. When supply is low and demand is high, resources flow to those willing and able to pay the most. When demand exceeds supply, companies are encouraged to invest to create substitutes or more supply. On the other hand, when supply exceeds demand, investment is discouraged until a profitable balance is restored.

Economic cycles are driven as much by human nature as by resources. When profits are flowing, it encourages overconfidence, greed, and complacency. When profits are nowhere to be found, it encourages fear, savings, and ruthless efficiency.

As individuals, we’re all part of this dance. Every choice we make as consumers and every decision we make as producers shapes the contours of supply and demand. We are the market, collectively determining what has value and what doesn’t.

Remember the forces at play the next time you’re at the store, negotiating a salary, or launching a product. You’re not just a passive participant but an active agent in supply and demand. Your choices matter. Make them wisely.”

— Source: The Great Mental Models v4: Economics and Art

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Thanks for reading,
— Shane Parrish

P.S. Applied physics.

P.P.S. I added my highlights from J. Paul Getty's classic How to Get Rich to the repository. The repository offers searchable access to a growing database of insights from history’s greatest entrepreneurs and thinkers. Join us.

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