- Mind Club
- Posts
- avoiding shortcuts & playing the long game
Mind Club is a newsletter filled with insights to help you thrive in the modern world.
Hi human,
We’re almost halfway through 2023. I hope your year is going well so far ❤️
It’s been awhile since I sent a new edition, but I’m happy to be back. I’ve been working on another project which I’m excited to share with you soon.
Here’s what’s on my mind this week:
🌱 Avoiding shortcuts
source: teonio via entropy+
Some things just can't be rushed. And if we attempt to take shortcuts, it will probably take longer to get to where we want to be. Cutting corners might work in the short term, but it's not sustainable over the long run.
I used to be pretty impatient, especially with the little things.
I couldn’t wait for a microwave minute to pass, and I was the worst at cooking pasta— I would add pasta to room-temperature water. Then, I wondered why my food wasn't as good as I expected 😅 I knew I had to change my ways.
There's a noticeable difference between something carefully made vs. something rushed.
🫧 Things to keep in mind
🌀 You’ll get what you deserve. Charlie Munger, investor and vice chairman of Berkshire Hathaway, often gets asked by young people how to become like him but faster. Showing up every day and giving things time is the secret sauce. And if you do something long enough, you’ll get what you deserve.
🪐 Work for the long term. As Naval Ravikant says, you can have all the pieces in place but still need to put in the hours. The key to working for the long term is finding something you’re good at and something the market wants.
👩🏻🎨 Great work can’t be manufactured. It takes time, effort, and creativity. Check out this list of useful hacks that actually work.
💭 Apply first principles thinking. When you have a solid understanding of something, it’s unlikely that you'll take shortcuts. First principles thinking unlocks creativity and potential - you’ll see more possibilities instead of relying on others analogies.
⚡️Playing the long game
All the returns in life, whether in wealth, relationships, or knowledge, come from compound interest
Playing the long game means making hard decisions today to have an easier life tomorrow. The long game isn't always the appealing choice in the present, but small actions add up, and time will amplify those decisions.
Which areas of life are you playing the long game?
☁️ Why playing the long game is worthwhile
📈 The longer you play, the better the rewards. The challenging thing about the long game is that the rewards are usually at the end. That’s why most people focus on the short game.
🏃♀️ A bet on your future self. The actions you take will determine what your future looks like. Choose success today, and your future self will thank you.
Image from Visualize Value
💸 Financial Wellness Corner
Financial wellness is about building healthy financial habits and a positive relationship with money.
Word of the week:
word of the week: compound interest
Earlier this month, Warren Buffet and Charlie Munger’s Berkshire Hathaway held their annual shareholders meeting in Omaha, Nebraska.
Berkshire Hathaway is a holding company that owns and is invested in over 60 businesses. Buffet has owned Berkshire Hathaway since 1965 and since then has grown the company to one of the largest publicly traded companies in the world.
One share of Berkshire Hathaway (BRK-A) trades at almost half a million dollars. Buffet and Munger are known for picking profitable businesses that align with their values, run by management with integrity and talent.
Aside from having winning picks, Buffet and Munger have been investing for decades and have used the power of compounding to get to where they are today.
As Morgan Housel writes, compounding is just returns leveraged with time.
Time is crucial when building wealth, so don’t underestimate it.
✨ What to do while waiting
👩🏼💻 Increase your financial knowledge. The landscape changes quickly. Industries change due to emerging technology and new financial tools come out, so stay informed and keep an eye out for opportunities.
📈 Contribute to your investments. Your investments are growing with time, but you can keep contributing to your portfolio to maximize returns.
💭 Revisit your goals. Markets tend to be volatile, and if your goals are not defined, you might interrupt compounding unnecessarily.
Disclaimer: The views expressed in this newsletter are for informational and recreational purposes only. Nothing contained in this newsletter should be construed as investment advice.
🪩 Internet Finds
🧝🏻♀️ GrimesAI. Want to collaborate with Grimes? Grimes launched elf.tech, an AI voice software that lets anyone create songs with her voice. Since launching, Grimes has expressed concern over how good the AI songs are but continues to embrace the new technology.
ChatGPT on iOS. The official ChatGPT app is now available on iOS. It’s ad-free, syncs across devices, and allows voice input. Now that the official mobile app is here, I might use ChatGPT more than Google.
AI girlfriend. Snapchat creator Caryn Marjorie launched an AI version of herself that can be your online girlfriend for $1 per minute. Caryn AI already has over 1,000 virtual boyfriends who chat with her about anything and everything.
That’s all for now. Want to chat about any part of this newsletter? Reply to this email and let me know what’s on your mind.
Karina
Reply