by Ray Dalio (founder of the lengendary hedge fund company BridgeWater)
2. 《Antifragile: Things That Gain from Disorder》
by Nassim Talleb (the inventor of the Blackswan Theory)
3. 《Good Profit》
by Charles Koch (CEO of Koch Industries)
Synopsys: Create a set of principles from the successes/failures you made in the past, and use them as guidance for your future decision making.
Radical openmindedness; Use technical problem-solving methodology to get what you want out of life.
Radical truth; Idea meritocracy; Radical transparency; Thoughful disagreements; Believeability-weighted decision making; Meaningful work and meaningful relationship.``
Synopsys: there are things in life that will benefit from disorder --- antifragile.
Convert things that are fragile to antifragile so it will thrive in adversity.
Make things as antifragile as possible;
Things can be antifragile, up to a point.
Small stressor is benefitial;
The barbell and the bimodal strategy.
Fasting is a small stressor to our body (which is antifragile to a point) and it is good for our body.
Plant food is regular, meat is irregular. So, eat mostly plant-based most of the time then feast on meat intermittently.
Ethics of fragility and antifragility (what people say may not be what he does):
“For the fragile, the cumulative effect of small shocks is smaller than the single effect of an equivalent single large shock.”
“For the antifragile, shocks bring more benefits (or less harm) as their intensity increases, up to a point.” Ex: lifting a 100lb weight once is more beneficial than lifting a 1lb weight 100 times.
3. Good Profit: How Creating Value for Others Built One of the World's Most Successful Companies
Synopsys: Market-based management (MBM) to good profits
Customers vote with their dollars; Providing value for customer/supplier/community is the only way for good profits.
Koch's Market-Based Management (MBM) framework has five dimensions:
1. Vision – strive for good profits which benefit customers and society as a whole.
2. Virtues – hire based on values first and talent second, not the other way around.
3. Knowledge – create a culture where the best ideas win regardless of who puts them forward.
4. Rights – let employees take complete ownership of their work roles and responsibilityfor outcomes.
5. Incentives – make it possible for anyone in the company to earn more than their boss if he or she creates more value for the customer. The underlying goal of MBM is to enable a business to create more value and drive creative destruction faster and better than existing or potential competitors. It works.