Napoleon never wrote down his principles. He said people would be surprised at how simple they were. Other people collected them from his writing and published them in 1827. Stonewall Jackson carried a copy through the whole Civil War.

I read two versions this week, Roots of Strategy and an old 1943 edition called Napoleon and Modern War. Here’s what he said, and what I think it means if you run a business.

HE SAID: ASK YOURSELF SEVERAL TIMES A DAY WHAT YOU’D DO IF THE ENEMY SHOWED UP

Front, left, right. If the question makes you uncomfortable, your setup is wrong and you need to fix it.

IN BUSINESS: Ask “what if” about your own company. What if your biggest customer leaves? What if a competitor cuts prices in half? If you don’t have an answer, that’s your weak spot. Much cheaper to find it yourself than have someone else find it.

HE SAID: THINK HARD BEFORE YOU ATTACK. ONCE YOU DO, DON’T STOP

Advancing or not is a big decision. But once you start, you keep going all the way.

IN BUSINESS: Take your time deciding. Then stop second guessing. Half committing is usually worse than either option.

HE SAID: DON’T FIGHT WHERE THE ENEMY WANTS YOU TO

Avoid ground the enemy has studied, and even more ground they’ve fortified.

IN BUSINESS: Don’t go head to head with a big player on the thing they’re best at. Find the spot they ignore.

HE SAID: IF YOU’RE SMALLER, YOU HAVE TO BE FASTER

With fewer troops, you avoid a big open fight and make up for it with speed. One line from the book says the strength of an army is its size times its speed.

IN BUSINESS: If you’re small and slow, you lose. Speed is the one thing a big company can’t buy easily.

HE SAID: LONG ORDERS KILL SPEED

The 1943 book points out Napoleon gave orders in a few clear sentences. Long orders take time to write, read and understand.

IN BUSINESS: Every long email, deck and approval chain slows you down. Say it short.

HE SAID: ONE ARMY, ONE COMMANDER

When authority is split, opinions differ and you get confusion and delay. One leader moves with energy because he doesn’t have to keep conferring.

IN BUSINESS: One owner per project. “Shared ownership” usually means nobody owns it.

HE SAID: USE EVERYTHING YOU HAVE

Before a big battle, bring every unit. Sometimes one battalion decides the whole day.

IN BUSINESS: What do you already have that you’re not using? An email list, an old customer, a skill on your team nobody asks about.

HE SAID: KEEP A COOL HEAD

The first quality of a commander is not getting thrown by good news or bad news.

IN BUSINESS: A big win and a big loss should get the same calm look. Emotions make you decide badly in both directions.

HE SAID: YOU NEED TALENT AND COURAGE IN BALANCE

Too much courage for your ability and you take on things you can’t handle. Too little courage and you’re smart but never do anything.

IN BUSINESS: I know a lot of people in both groups. Very few in the middle.

HE ALSO PLAYED MIND GAMES

He praised a weak Austrian general in his reports. Austria figured the guy must be good if Napoleon liked him, so they kept him in charge. He stayed just as bad.

The one that got me is the “what if” question several times a day. I think about my weak spots maybe once a quarter, usually after something already went wrong.

To be fair, the guy who wrote all this still lost at Waterloo and died in exile. Good rules don’t save you from every mistake.

Which of these do you think matters most for a small business? I’d guess speed, but I’m curious if anyone thinks the single commander one matters more.

Bezos sat down with Andrew Ross Sorkin at the DealBook Summit. He barely does long interviews, so I went through the whole thing.

Most of the clips online were about politics and billionaires. The good stuff was in the boring questions. Here are the ones I’d actually read.

“HOW DID YOU KNOW AMAZON WOULD WORK?”

He didn’t. He sold 20% of the company for $1 million and it took about 50 meetings. The most common question investors asked him was what is the internet. He told every one of them he thought there was a 70% chance they’d lose their money.

“WHERE DOES YOUR CONFIDENCE COME FROM?”

He said it isn’t really confidence. His view is that people naturally overestimate risk and underestimate opportunity. So he tries to correct for that bias on purpose. He added that thinking small is a self-fulfilling prophecy.

“IS BLUE ORIGIN A HOBBY OR A BUSINESS?”

A business. Not a good one yet. But he said it could end up being the best business he’s ever been part of financially, bigger than Amazon. It’ll just take a while. He pointed out Amazon lost money for 11 years. Tom Brokaw once asked him if he could even spell profit. Bezos said yes, and spelled out “prophet.”

“YOU PAID YOURSELF ABOUT $80K. WHY?”

He already owned a big chunk as the founder, so he had plenty of incentive.  Then he said someone should rank people by how much wealth they create for others instead of how much they own. At the time Amazon was worth about $2.3 trillion and he owned about $200 billion of it. So by his math he created around $2.1 trillion for other people.

“HOW DO YOU RUN MEETINGS?”

Crisp documents, messy meetings. The 6 page memo should be really clear. The talk after it should wander. Once he could tell a team had rehearsed a meeting with him. He asked, they said yes, and he told them not to do that again. He wants to see the ugly parts, not get pitched. He always asks if there are dissenting opinions, and he talks last so he doesn’t steer the room.

“ARE YOU HARD TO CONVINCE?”

Mostly no. He said he’s easy to influence and changes his mind a lot. But a couple percent of the time, nothing can move him. Lots of people tried to talk him out of Fulfillment by Amazon. He said he’d do it through sheer will if he had to.

“WHAT DOES THE WORLD GET WRONG ABOUT YOU?”

He said he gave up on being understood a long time ago. It’s hard enough with your own family. He thinks of himself as an inventor, not an entrepreneur. And he only does an interview once in a while because every minute spent on one is a minute not spent on something else.

The one I keep thinking about is telling investors 70% odds of losing. Most of us pitch the best case and hope nobody asks. He led with the worst case and still raised the money.

To be fair, he was raising $1 million, not $50 million. Being that honest probably gets harder when the check gets bigger.

Would you tell an investor you thought they’d probably lose their money? Or is that only something you can say once you’re Bezos? 

Hello!

I’m a high school student currently working on an FBLA (Future Business Leaders of America) Business Ethics competitive event. This year’s topic focuses on a major corporate crisis—specifically, a large meat processing CEO discovering a dangerous, contagious bacterium in a small batch of beef, and having to choose between a massive, financially devastating total recall or keeping quiet to protect the bottom line.
As part of my research, I need to gather insights from real-world business professionals on how leadership navigates these ethical dilemmas. If any business owners, managers, or executives have a few minutes, I'd love your thoughts on any (or all) of these questions:

1. Prioritizing Stakeholders: When public health is threatened alongside massive financial losses, how do you determine which stakeholders (customers, employees, suppliers, investors) take absolute priority?

2. Departmental Clash: In high-stress crises, legal and financial teams often advise caution to protect the company, while quality assurance and operations focus purely on safety. How do you balance these conflicting departmental objectives as a leader?

3. Communication vs. Panic: How do you handle transparency with the public regarding a severe safety risk without sparking mass panic or permanently destroying consumer trust?

4. Proactive Safeguards: What preventative protocols or ethical frameworks should high-risk industries put in place before a crisis hits to avoid these terrible trade-offs?

I'd love to include your perspectives and industry experience in my research summary. Thanks so much for helping a student out!

Everyone shares Elon’s algorithm. Question requirements, delete, simplify, speed up, automate.

What people skip is where it came from. In Isaacson’s biography it’s clear he learned it the hard way, by doing it in the wrong order and almost killing Tesla.

THE MISTAKE

In 2018 Tesla had to make 5,000 Model 3s a week. Below that, the company would run out of money. Elon had pushed for a factory full of robots. Problem was, it didn’t work.He started with automation, which is the last step. Then he sped up processes that should never have existed. He says he spent a lot of time making things faster that he later just deleted.

THE FIBERGLASS STRIPS

One station kept slowing the line. A slow, expensive robot was gluing fiberglass strips onto battery packs. Elon asked what the strips were for. Engineering said the noise team wanted them. The noise team said engineering wanted them, for fire safety. He said it felt like a Dilbert cartoon. So he had them record the sound in the car with and without the strips. Nobody could tell the difference. Strips gone, robot gone.

THE PLASTIC CAPS

Battery packs left Nevada with little plastic caps on the prongs. In Fremont workers pulled them off and threw them away. Sometimes Nevada ran out of caps and had to hold shipments. Elon asked who required the caps. The team couldn’t find a single name. So he deleted them. They never had a problem with bent pins.

THE ROBOTS IN THE PARKING LOT

After that he flipped. He walked the line looking for any spot where removing automation would make it faster.They sawed robots out of the line and threw them in the parking lot. They had to knock a hole in the building wall to get the equipment out. He even said it publicly. Excessive automation was a mistake, his mistake, and humans are underrated.

THE TENT

Still short of 5,000 a week, he remembered a World War II story. When the government needed bombers fast, they built production lines in parking lots. So Tesla put up a giant tent in its parking lot. Three weeks later Model 3s were rolling out of it. A few weeks after that, they hit 5,000 a week.

THE ORDER IS THE WHOLE POINT

That’s why the steps go the way they do. First question every requirement and get the name of the actual person who made it. Then delete what you can.

Only then simplify. Then speed it up. Automate last.

His warning is that the most common mistake is simplifying something that shouldn’t exist.

He says he became a broken record about it. His executives apparently mouth the words when he starts.

Hi,

I run a B2B printing company based in the UK, offering prints like flyers, business cards, posters, banners, custom clothing etc.

I’m looking for ways to grow the business to a point where it’s steady and consistent, but I don’t have a huge amount of ideas regarding what channels to focus on, what works, what doesn’t, where to invest etc.

It’d be great to get some opinions on what works within the UK, and any other tips you may have, maybe from running your own business.

Also, as a 20 year old, it’d be great to connect with other business owners within the UK, this would be really helpful and greatly appreciated, comment if so.

Any feedback / advice would be great.

Hey, im 26 years old and i started getting into filmmaking since i was 21 years old in 2021
i have the right gear but i didn't do much with it
and i can't call it a business because i have no clients or good portfolio
and my girl is pressing me to engage with her this next year of 2027
and im just so lost sometimes i say i will just sell my gear that will get me around 1700$ only and i live in Algeria
anyone can give me advice or help on how to go on a real path to succeed and make profit and actual get married in short time
and please don't tell me this is unrealistic goal

I was rereading Made in Japan by Akio Morita, who co-founded Sony. Bezos, Jobs, Phil Knight and James Dyson have all said they learned from him, so I figured the book was worth a second look, and here's one story in it I can't stop thinking about.

Early on, Sony was a small, unknown company. Morita took one of their transistor radios to the US and showed it to Bulova, a big established watch company. They loved it and wanted 100,000 units. He said the order was worth several times Sony's total capital. One condition. The radios had to say Bulova, not Sony. Morita said no. He had already decided Sony would never make products under someone else's name. The Bulova buyer got annoyed. He said their name took over 50 years to build and nobody had ever heard of Sony, so why not use theirs?

Morita told him that 50 years ago Bulova's name was just as unknown as Sony's was then. He said he was taking the first step of the next 50 years, and that in 50 years Sony's name would be as famous as theirs. He walked away from the money. The buyers thought he was crazy.

What gets me is it wasn't a one time stubborn move. The whole book is him turning down the easy money because it didn't match where he was going. A few other things from it:

HE MADE BIGGER POCKETS

Sony's "pocketable" radio was a little too big for a normal shirt pocket. So he had shirts made for the salesmen with slightly bigger pockets. Problem solved. Kind of.

HE FOUND THE CUSTOMER WHO ALREADY HAD THE PROBLEM

Sony's first tape recorder flopped. Regular people thought it was an expensive toy. Then they realized Japan's courts were short on stenographers after the war. They demoed it for the Supreme Court and sold 20 right away. Same product, different buyer.

HE PAID HIS HARSHEST CRITIC

A music student named Norio Ohga criticized Sony's first tape recorder hard. Morita admitted he was right, and hired him as a paid critic while he was still in school. By the time the book came out, Ohga was Sony's president.

HE IGNORED HIS OWN TEAM ON THE WALKMAN

His co-founder Ibuka was lugging a heavy tape recorder and headphones around just to listen to music. Morita had engineers rip out the recording part and the speaker to make it small. Pretty much everyone said nobody would buy a tape player that can't record.

His answer: millions of people buy car stereos, and those don't record either. He took personal responsibility for it and it became a huge hit.

HE LET EMPLOYEES QUIETLY TRANSFER

At dinner, a young employee told him his boss was stupid, and as far as his career went, that boss was Sony. So Morita started a weekly internal paper listing open jobs, and let people apply to them confidentially. If a lot of people under one manager kept asking to transfer, they knew that manager was the problem.

The Bulova story hits me because I've taken the safe deal more than once. Never anything that size, but the same kind of choice, and I'm not sure I'd have had the nerve to say no with Sony's bank account.

To be fair, plenty of companies said no to the big order and just died. Morita had a product good enough to back it up.

What's the biggest deal you've turned down because it didn't fit where you were going? Did it pay off?

Hi! I'm from Brazil and I'm currently producing an e-book for anyone who wants to learn Portuguese from scratch. As a native Brazilian, there's no better way to learn than with a local! You'll learn slang, real conversations, everyday dialogues, abbreviated words, and more.

It's only $5 (PayPal: kaioaquino919293@gmail.com). When it's ready, you'll be able to get it, just get in touch with me. I'm just asking for your help to make a dream come true, and in return, you'll receive a complete guide. Just send me a message and as soon as it's ready, it's yours. Can you please help me? ❤️

Hi everyone! This is my first post on Reddit, and i thought i would start by asking someting i have been curious about.
I'm interested in understanding how business actually works, especially how businesses understand their markets, find customers, and grow. For people who have experience in business, what do you think a beginner should focus on learning first ?
I would love to hear your thoughts and experiences.

From restaurants to big brands, every business has a story behind its revenue, expenses, and profits. 📊

Welcome to Mr. Karobaar — where we break down how businesses work and how they make money, in a simple and interesting way! 🚀

If you're interested in business, money, and entrepreneurship, join the journey!

👉 Subscribe here: https://www.youtube.com/@Mr.Karobaar

💬 Question: Which Indian business would you like me to break down first?

Dietrich Mateschitz started Red Bull. He died recently, and I went through the only biography of him (it's in German) plus a long Bloomberg piece. He did almost everything the opposite of how you're supposed to.

HE STARTED LATE

He sold toothpaste for a Unilever company and was on the road 3 to 4 months a year. Around 38 he got sick of the same gray planes and gray suits. He quit at 41 and put in everything he had. He said if it failed he'd be sleeping under a bridge.

HE FOUND IT BY ACCIDENT

On a trip to Thailand he tried a local tonic that fixed his jet lag. Later he read that the biggest corporate taxpayer in Japan that year made drinks like it. So he partnered with the Thai guy who made it, and they each put in $500,000. His idea was to sell it in the West, carbonated.

HE STAYED SMALL FOR 5 YEARS

Germany took over a year just to figure out what an energy drink was legally. So he launched only in Austria in 1987. The second country didn't come until 1992. Five years in one small market, fixing the product and the message before going bigger.

HE DIDN'T CARE HOW IT TASTED

He said taste didn't matter at all. To him it wasn't a soda, it was something you drink to perform better. He also priced it way above every other drink on the shelf. His logic was that a small markup makes you a fancy soda, while a big one makes you something new.

HE LET THE RUMORS RUN

People said the taurine came from bull testicles. He didn't fight it. Red Bull even put a page about the rumors on its website. His view was that the worst thing for a brand is people not caring. Germany banned it for years, so people smuggled cans in from Austria. Once it was legal, it sold 33 million cans there in the first 3 months.

HE HATED DEBT

Every bank said no except one small private bank. He stuck with that one bank and avoided debt for good after that. They broke even in year 3 and stayed profitable. No dividends until 1999. He lived on his salary and put everything back into the company.

HE ONLY DID MARKETING

No factories, no warehouses. Everything else was outsourced. The main bottling deal was a handshake in 1987, and it was still going. He said no to every licensing offer. No gummy bears, no perfume. Just the drink.

HE MADE HIS OWN ADS AND GAVE THEM AWAY

Cliff diving, air races, a guy jumping from space. Red Bull kept the rights to the footage and gave it to TV stations for free. Over 70 stations ran the Air Race. They got free content. He got free airtime. He never sold and never went public. His answer was basically, can you picture me at a shareholders meeting?

What gets me is the 15 years without a dividend. He owned 49% of something that later paid him hundreds of millions a year, and he just waited.

To be fair, a lot of this only worked because the drink took off in clubs. Plenty of people try five slow years and run out of money.

Would you have stayed in one tiny market for five years? Or expanded the second it started working?

Checked an essay by Max Olsen called "Atoms Are Cheap, Process Is Pricey." He's writing a book on SpaceX's first decade using their actual company updates and internal memos.

I’ll give you some context. In September 2008 SpaceX had money for exactly one more Falcon 1 launch after three explosions. It worked, and a $1.6 billions NASA contract came six weeks later. Today, according to the essay, they put more mass into orbit than every other launch provider on Earth combined. The essay's real question is why nobody has copied them when SpaceX has basically explained how they work in public for years. So I turned it into steps you can actually try on your own business, roughly in the order SpaceX did them.

RUN THE IDIOT INDEX ON YOUR BIGGEST COSTS

In 2001 Elon tried to buy Russian ICBMs to get to Mars, and the prices he got back were ridiculous. So he asked what a rocket is actually made of. Aluminum, some titanium, copper, carbon fiber. Then he looked up what those cost on the commodity market. About 2% of the price of a rocket. For a car it's more like 20 to 30%. The rest was going to supplier markups stacked on top of each other, custom one off designs, and throwing the hardware away after every flight. None of that is physics.

He later named it the idiot index. The cost of a part divided by the cost of its raw materials. If the number is high, you're an idiot. His words. Try this on your biggest expenses. Most will be fine. One of them probably won't be.

MAKE IT YOURSELF WHEN THE QUOTE IS STUPID

A vendor quoted $120,000 and 18 months for an actuator on the Falcon 1. SpaceX engineers built it for $3,900. Another supplier basically smirked and walked out after hearing SpaceX's budget and timeline for an engine valve. So they made the valve themselves.

They ended up building about 80% of their hardware in house. What I liked is that this wasn't some big philosophy. One engineer said they never set out to do it. Suppliers just kept quoting prices and timelines that didn't work, so they kept saying fine, we'll do it. A NASA study estimated SpaceX built Falcon 9 for about $440.000.000, and that the same work with traditional contractors would've cost 3 to 10 times more.

SELL ONE THING AND MAKE CUSTOMERS ADAPT

The old way was a custom rocket for every mission. SpaceX went the other way and built the Falcon 9 over and over. Same engines, same diameter, same materials. Even Falcon Heavy is just three Falcon 9 first stages strapped together. They published a user guide with their specs, and customers designed their satellites to fit the rocket instead of the other way around. Customers wanted custom. They wanted cheap more. When forced to pick, they adapted.

The essay gives Gwynne Shotwell, the president, a lot of credit here. Sales teams usually promise customers whatever they want, which creates exactly the custom mess engineering is trying to kill. She got NASA and the Pentagon, probably the most conservative buyers on earth, to accept a standard product.

BUILD 10 CHEAP VERSIONS INSTEAD OF 1 PERFECT ONE

Traditional aerospace does a huge amount of analysis before building anything. SpaceX builds, tests, breaks it and learns. Elon's goal for Starship prototypes was to push them until they blow up. If it doesn't fail, you don't know where the limit is. One quote from him I liked: a high production rate solves many ills. If you only have a few engines, you can't risk blowing them up, so you play it safe and learn slowly. That's partly why Starship is stainless steel instead of carbon fiber. Steel is cheap and you can weld it in a tent. Carbon fiber is expensive and needs giant ovens.

They're not reckless everywhere, though. Dragon carries people, so it gets huge safety margins. Starship has nobody on board, so they let it fail. Same company, totally different risk levels.

DELETE REQUIREMENTS, ESPECIALLY FROM SMART PEOPLE

Falcon 9's grid fins were designed to fold, like traditional ones, to cut drag. Somebody asked if that was worth the extra weight and complexity. Simulations said fixed fins were fine, so they deleted the whole mechanism. Every requirement has to have a named person who owns it and can explain why it exists. If they can't, it goes. Engineers are told that requirements from smart people are the most dangerous ones, because nobody questions them. And Elon's rule: if you're not adding back at least 10% of what you deleted, you didn't delete enough.

FIND THE BOTTLENECK AND THROW EVERYTHING AT IT

When Starship was held up by Raptor engine production, that became the company's whole focus. Daily updates, memos to the company, people moved over from other projects. When it broke through, attention moved to the next constraint. A NASA manager who visited said when a new problem shows up there, it looks like a flash mob in the hallway. Hiding a blocker is what gets you in trouble. Saying you're stuck is expected.

TALK TO THE PEOPLE DOING THE ACTUAL WORK

Andrej Karpathy, who worked for Elon at Tesla, says Elon spends about 50% of his time talking directly to engineers instead of VPs. In most companies every layer of management cleans up the bad news a little more. By the time it reaches the CEO it's a summary of a summary. Talking to engineers directly skips that, and it let Elon make calls like steel over carbon fiber, which a lot of people inside the company thought was wrong.

The essay's main point, which I didn't get until the end, is that none of these work alone. Making parts in house only pays off if you have volume. Volume only works if you sell one standard product. Failing fast only works if your people are fine failing in public. Competitors copy one piece, it breaks, and they decide the idea doesn't work. That hit me because I've done exactly that. Grabbed one tactic from a company I admire and dropped it when it didn't work on its own.

Fair warning, the essay even admits that at low volume, owning your own production is a liability. Making things in house can sink a small business if you don't have the volume to back it up.

Has anyone here actually run the idiot index on their own costs? 

Reading The Man Who Solved the Market by Gregory Zuckerman, about Jim Simons and Renaissance.

Everyone talks about the returns. What I didn't expect is how much of the book is about people leaving Simons right before it worked. Some of them were really smart, and they were all sure they were making the right call.

LEONARD BAUM

Simons left academia at 40 to start trading. His dad told him he was making a big mistake giving up a secure job. His first partner, Baum, traded on gut feel and did great for a while. He thought building computer models was a waste of time when you could just make money the normal way. Then in 1984 the losses piled up. Once his positions were down 40%, a clause in their deal forced Simons to sell everything and end the partnership. Simons was 46, losing millions a day, and thinking about quitting. He said sometimes he felt like some guy who didn't know what he was doing.

JAMES AX

Simons recruited Ax by pitching investing as the ultimate puzzle. They built the system that turned into the Medallion fund. By 1989 the fund was down $20 million and people in the office thought Simons might shut it down. Ax ended up selling his stake.

ELWYN BERLEKAMP

Berlekamp bought Ax out and made one big change. Hold trades for a short time and trade way more often. Basically act like a casino. If you make enough bets, you only need to be right a little more than half the time. They cut the average hold to about a day and a half. It worked almost right away. 1989 was down 4%. 1990 was up 55.9%. There were so many million dollar days that the champagne celebrations got a bit out of hand.

In the middle of that, Simons said he thought they could do 80% a year. Berlekamp thought 30% was more realistic. So he said, if you think it's worth that much more, buy me out. Simons did, in December 1990. Berlekamp got 6x what he'd paid 16 months earlier and thought it was a steal. Simons' reaction was basically, fine, I'll run it myself.

SANDOR STRAUS

Straus built the giant database of clean historical prices that gave them an edge nobody else had. When Simons moved everyone to the Long Island office, Straus wouldn't go. He sold his shares in 1996 and quit. Later he said he thought they were one of many firms, and if he'd known there was a secret sauce he'd have made sure he stayed invested. According to the book, Medallion has averaged 66% a year since 1988.

The one I keep thinking about is Berlekamp. He wasn't wrong about the method. He's the one who fixed it. He was just wrong about how far it could go, and the guy who believed more kept everything. In fairness, for every Simons there are plenty of founders who held on with total belief and lost it all. Most of these guys weren't dumb, they just bet on the odds.

Has anyone here sold out of something too early? Or held on way too long? 

I've been thinking about this question while researching an idea for a YouTube documentary.

Every business faces market changes over time. Customer preferences change, new technologies emerge, competitors enter the market, and sometimes the entire industry changes.

But if these challenges affect almost every business, why do only a few manage to survive for 100 years or more?

Is it mainly because of good leadership, the ability to adapt, strong brand loyalty, financial stability, or something else?I'd like to understand what actually separates businesses that survive for generations from those that disappear within a few decades.

For those who have studied business history or have experience running a business, what do you think is the biggest factor?

Hey everyone, I'm currently in last year of my highschool and looking for a side hustle that can realistically help me earn around 50-100$ per month.

I'm a student, so I'm looking for something I can manage alongside my studies without affecting them too much. I'm open to learning new skills and putting in consistent effort, but I'd prefer something that doesn't require much or any initial investment.

I'm open to freelancing, online work as long as they're legitimate. I am willing to learn anything.

I went through Bezos' shareholder letters, 1997 to 2020. (They're free online if you want to check any of this)

His very first letter was called "It's all about the long term," and he attached it to the end of every letter after that. Every year, same letter, so new shareholders knew what they were signing up for. What surprised me is how much of it goes against normal business advice. So I set it up as what most people say vs what Bezos actually did:

EVERYONE SAYS FOLLOW THE DATA. JEFF BEZOS WENT AGAINST IT.

This is the one from the title. Amazon had a ton of data on price elasticity. Jeff admits that with rare exceptions, when they lower prices, the extra sales in the short term never cover the cost of the cut. The math says raise prices. They lowered them anyway, year after year.

His reasoning was that the data only tells you what happens this week or this quarter. Nobody can calculate what consistently low prices do to a business over 5 or 10 years. So that call was judgment, not math. And he pointed out that judgment calls always get argued about, while math calls everyone just agrees with. Most of us only make the decisions our spreadsheet can defend. That's kind of the whole point.

EVERYONE SAYS HIRE GOOD PEOPLE. JEFF BEZOS HAD 3 QUESTIONS.

Every hiring meeting asked: Will you admire this person? Will they raise the average level of the team they're joining? In what area could this person be a superstar? The second one is the one I'd never thought about. Not "are they good," but "is the team better on average after they join." He wanted the bar to keep going up every hire.

EVERYONE SAYS PROTECT YOUR SALES. JEFF BEZOS PUT BAD REVIEWS NEXT TO THE BUY BUTTON.

Vendors complained and basically asked if Amazon understood its own business. You make money selling things, so why show negative reviews? Jeff  said he'd changed his own mind about purchases because of bad reviews. It cost sales short term. He bet that helping people buy the right thing would pay off later.

EVERYONE SAYS WATCH THE STOCK. JEFF BEZOS WATCHED THE BUSINESS.

The 2000 letter starts with one word: "Ouch."

The stock was down more than 80% from the year before. In the same letter he said the company was in a stronger position than at any time in its past. The dot com crash was something he couldn't control. What he could control was the business itself, and that kept improving.

Fun detail. His 1997 letter brags about partners like AOL, Yahoo, Netscape, GeoCities, AltaVista and Excite. Most of those are gone.

EVERYONE SAYS WAIT UNTIL YOU'RE SURE. JEFF BEZOS SAID 70%.

He split decisions into one way doors and two way doors. One way doors are hard to undo, so take your time. Most decisions are two way doors. If you're wrong you just walk back through. For those, he said you'll usually have around 70% of the info you wish you had. If you wait for 90%, you're too slow. He also uses "disagree and commit." He once told a team he didn't think a show they wanted to make was a good idea, then approved it anyway and said he hoped it became the most watched thing they'd ever made. No long fight to convince him.

EVERYONE SAYS AVOID FAILURE. JEDD BEZOS SAID YOUR FAILURES SHOULD GET BIGGER.

His argument was that as a company grows, its failed experiments have to grow too, or you're not trying anything big enough to matter. The Fire Phone flopped. What they learned from it helped them build the Echo. Nobody asked for the Echo. He said if you'd described it to people in 2013, a black cylinder in your kitchen that you talk to, they'd have said no thanks. He also had a baseball comparison. In baseball the best you can do on one swing is 4 runs. In business, once in a while one swing scores 1,000. So a 10% chance at a 100x payoff is worth taking every time, even though you'll be wrong 9 times out of 10.

EVERYONE SAYS DO WHAT YOU'RE GOOD AT. JEFF BEZOS SAID THAT'S A TRAP.

He called it skills forward. "We're good at X, what else can we do with X." His point was that if that's all you do, you never learn anything new, and eventually your skills go out of date. Amazon had never built hardware. For the Kindle, instead of changing the idea to fit what they already knew, they hired hardware engineers and learned it.

EVERYONE THINKS GOOD WORK SHOULD BE FAST. JEFF BEZOS LEARNED OTHERWISE FROM A HANDSTAND COACH.

A friend of his hired a coach to learn a free standing handstand. The coach said most people think it should take about two weeks. It really takes about six months of daily practice, and people who expect two weeks just quit. Jeff realized that's why the quality of Amazon's 6 page memos was all over the place. People weren't bad writers. They thought a great memo took a day or two, when it really takes a week or more of writing, getting feedback, setting it aside and rewriting. His fix wasn't more rules. It was just telling people how long it should actually take.

The one that got me is number one. I make almost every pricing call based on what I can see in the next month or two. He's basically saying the most important decisions are the ones your numbers can't see.

To be fair, he had investors who were willing to wait. Most small businesses can't burn margin for 5 years on a hunch.

Has anyone here made a call that went against their own numbers because you believed in the long term? 

Just finished reading Bob Dylan's memoir. Supposedly he wrote the whole thing himself with no editor.

I expected stories about being famous, but most of it is about the years before anyone knew who he was, and the point decades later where he almost walked away for good. I pulled out 8 things he did that got stuck to me. The last one is the almost quitting story, and it's the one Id read if you only read one:

1) HE COPIED PEOPLE BEFORE HE WAS ORIGINAL

Before New York, he spent around 8 or 9 months listening to folk records. He was broke, so he sat in record store booths for hours, and he made friends with people who had big record collections just so he could listen at their houses. Other folk singers later said he could play their songs exactly like them. Same tone, same tempo.

He also studied Hank Williams' records so closely he said they held the basic rules of songwriting. Years later a New York Times critic wrote that Dylan broke every songwriting rule except having something to say. Dylan's point was that the rules he followed were Hank's. The critic just didn't know it. You don't get to be original by skipping the copying part.

2) HE PRACTICED IN PUBLIC FOR $3 A NIGHT

In Minneapolis he made $3 to $5 a night playing coffee houses and a pizza parlor. He lived in a storage room with a mattress on the floor and fell asleep holding his guitar. In New York it wasn't much better. If you played every small club from dusk till dawn on a weekend you might make $20. He played for one person, nobody, whoever. He said he practiced in public. That's basically shipping early and getting feedback, just with a guitar.

3) HE GOT HIS BIG BREAK BY ASKING A BLUNT QUESTION

He wanted to play at a club called the Gaslight. One winter day Dave Van Ronk, one of the guys he came to New York to see, walked into the place where Dylan was hanging out. Dylan walked up and asked him straight out how someone gets to work at the Gaslight, and who you have to know. Van Ronk was rude about it and asked if he was a janitor. Dylan said no, but he could play something. Van Ronk liked it and told him to come play a few songs in his set that night. Not long after he was hired there. No warm intro, no network. Just a question and being ready when the door opened a crack.

4) HE READ WAY OUTSIDE HIS FIELD

When he wasn't playing he was reading. Clausewitz on war, Machiavelli, Thucydides, biographies of Robert E. Lee and Teddy Roosevelt. He went to the New York Public Library and read newspapers on microfilm from about 1855 to 1865. Not for the politics. He wanted to hear how people talked back then. His line on all this was that he packed his head with it and figured he could "send a truck back for it later." Most of what you read won't be useful this week. Some of it will be useful in 10 years.

5) ONE SMALL WORD OF ENCOURAGEMENT LASTED HIM YEARS

When he was a teenager he was playing on a little platform in the lobby of a building in his hometown. Gorgeous George, a famous wrestler, came storming through with an entourage and a fur lined gold cape. He didn't stop walking, but he looked right at Dylan, winked, and seemed to mouth that he was making it come alive. Dylan said that was all the encouragement he needed for years. If you manage people, you probably have no idea how long a small comment sticks.

6) HE DIDN'T TRY TO BE LIKE ANYONE

When the Columbia publicist asked who he saw himself like in music, he said nobody. He wasn't saying he was the best. He said there were better musicians around, but nobody doing what he did. He also said people either walked out on him or leaned in closer. No middle. Honestly that's a decent test for a product too. If nobody hates it, nobody probably loves it either.

7) YOU DON'T GET TO CONTROL THE LABEL

Once he got famous the press called him the voice of a generation. He hated it. He said he was more of a cowboy than a pied piper, and all he wanted was to raise his kids. He also said privacy is something you can sell but can't buy back.

When Princeton gave him an honorary degree, the speaker introduced him as the conscience of young America. Dylan said he was so mad he wanted to bite himself. Kind of the funniest line in the book.

8) WHEN YOU'RE STUCK, LEAVE THE ROOM

This is the part I mentioned up top.

He'd just finished an 18 month tour with Tom Petty and felt completely burned out. He said his own songs felt like strangers to him and he couldn't wait to retire. During a rehearsal with the Grateful Dead they asked him to play some of his old songs. He said he forgot something at the hotel and left. He wasn't planning to come back. A few blocks later he heard a jazz band in a tiny bar with almost nobody inside. He went in. The singer was an older guy, relaxed, not loud, but he had this natural power. Dylan suddenly remembered a technique he used to do automatically years ago and had totally forgotten. He went back to the rehearsal to try it. It was rough at first, then it clicked, and he played the shows without having to think twice. Years later, when an album session felt stuck, he woke his wife up before sunrise and they rode a Harley across the Mississippi with no plan. Next morning he felt like he'd figured something out. He didn't fix it by thinking harder. He fixed it by getting out of his own head.

The one I keep thinking about is number eight. He was about to throw away a 25+ year career over a burnout that a walk and a random bar fixed. I wonder how many people quit right before that kind of moment.

To be fair, the book jumps around in time a lot, so some of this is pieced together from different chapters.

Has anyone here been close to quitting something and had a random moment like that pull them back? Or did you actually quit and not regret it?

I went through Roger Federer's biography (The Master by Christopher Clarey) plus his Dartmouth commencement speech. After reading this, it became pretty obvious Roger was not a natural beast because as a kid he was a mess…

What made him great was stuff he learned and most of it works for anyone running a business. Here’s 7 lessons I felt I’d share for those who care:

1) IT'S ONLY A POINT

Federer played 1,526 singles matches and won almost 80% of them. But he only won 54% of the points. So even the best player of his era lost almost every second point. His way of handling it was to tell himself "it's only a point." Double fault, only a point. Great shot that ends up on a highlight reel, also only a point. When it's happening it matters more than anything. When it's over, it's over. If you run a business you lose deals, hires and launches constantly. You don't have to win most points. You just have to not carry the last one into the next one.

2) HE WAS A TERRIBLE LOSER FIRST

He threw rackets, swore, screamed at himself. His dad was so embarrassed he'd yell at him from the side of the court, then drive an hour and a half home without saying a word. Early in his career an opponent said publicly that Roger would be the favorite for the first two hours, and he'd be the favorite after that. Meaning Roger would fall apart mentally. Roger says he's grateful for that comment because it made him train a lot harder. What I liked is that the anger never went away. He talks about learning to control the flames instead of putting them out. Same fire, just slow burning fuel instead of a bonfire.

3) HE HIRED A MENTAL COACH BEFORE HE WAS 17

At the time, seeing a sports psychologist looked like weakness. Roger did it anyway, with a guy named Christian Marcolli. Both of them have refused to say exactly what they worked on. That was Roger's wish. I think that tells you how much he valued it.

4) REST WAS PART OF THE TRAINING, NOT A BREAK FROM IT

His fitness coach Pierre Paganini never played tennis competitively, and people called him unusual. But from day one he planned for a career lasting decades. Hard consistent work, yes. But also rest and getting away, because fresh legs only matter if your head is fresh too. His view was that having potential is one thing, but showing it for 70 matches a year is something else. Most founders treat rest like a reward for when the work is done. Roger's team treated it like part of the work.

5) WHEN BURNOUT SHOWS UP, CUT EVERYTHING TO 3 THINGS

The author asked him if he ever burned out. He thought for about 30 seconds before answering. His rule: if he feels it coming, he cuts down to practice, matches and family. Less press, fewer autographs, fewer public appearances. He once asked the tour to help him out for 3 months because the daily media grind was wearing him down. He also showed the author a clenched fist and said if you're like that all the time, that's how you burn out.

6) HE SWITCHED DENTISTS BECAUSE THE GUY DOUBTED HIM

He quit school at 16 to play tennis. His dentist asked what else he was doing. Roger said nothing, just tennis. The dentist looked shocked. Roger never went back. His reasoning was basically, I'm chasing a dream and this guy is trying to pull me back. Kind of petty. Also kind of right. You're going to doubt yourself enough already.

7) STAYING THE SAME IS GOING BACKWARDS

He believed that holding the same level in pro tennis meant losing ground. So he'd break up winning setups. He split with his coach after things got too routine, then went a stretch with no official coach at all, which was really unusual for a top player who could afford anyone. His line was that the decision came from him alone and he was the one who had to be satisfied. He also said trusting yourself is a talent. I'd never thought about it as a skill you can get better at.

8) THE LONG GAME PAID OFF OFF THE COURT

In 2020 Forbes had him as the highest paid athlete in the world at over $100.000.000. Only about $6.000.000 of that was prize money.He signed a 10 year deal with Uniqlo reported at over $30.000.000 a year. That deal didn't cover shoes, so he invested in On, the Swiss running shoe company. When On went public his stake was worth about $300.000.000. That came 23 years after he turned pro. None of it happens if he burns out at 28 like a lot of his peers...of the 128 men who played singles at the 1999 French Open, his first Grand Slam, he was the last one still on tour.

Out of the lessons, the one that hits the spot for it’s number 5.

I've always handled burnout by pushing harder and he does the opposite. He shrinks his life down to the few things that actually matter until he's back. Obviously he had huge talent. But the book makes the point that at 16 nobody could tell if he'd be an all time great or just very good. The difference was all in his head.

Curious what people here actually do when they feel burnout coming…

Do you cut back like he did or just grind through it!?

I want to start a business of making wine from Jamun.

Please guide me regarding capital expenditure and scope for the business.

Any help will be appreciated..

kay so every time I see stuff about these guys it's always attached to a claim of making someone crazy money. It's like always in your face, it get's too much and even I have found it annoying ever since actually using them cos I feel it's taking away from the real shit. I worked with them and they helped me a lot I won't lie and knowing that everything was halal kept me calm. Ask me anything you want to know about my process or my opinions on Abu and his team

How many generations is it?

Hit the 6-month mark with DiversyFund recently. The biggest thing I noticed is how little there is to actually keep up with compared with other investments I've had. I check in occasionally, and with the current fund there are quarterly distributions, so there’s at least some cash flow along the way rather than just waiting until the end. Still too early for me to have a real opinion on the overall outcome, but so far the experience has been pretty straightforward. Figured I'd share since I was curious about that first stretch before signing up, so ask me anything and I’ll answer lol.

guys so idk what to do for the challange if anyone of u guys won what did u do?

Looking at a few property investment mentors in Aus at the moment and Positive Property keeps popping up.The marketing looks slick, but I want to hear from people who’ve actually used them. Was the mentoring worth the coin? Did the strategy actually make sense or was it just fluff? Are you still with them, or did you go your own way? No sales pitches, cheers. Just want the fair honest feedback.