Continuously acquire new skills using the vast, free resources available online (e.g., MIT/Harvard/Stanford courses, Khan Academy) to improve your outcomes and career opportunities, as there’s no excuse not to learn today.
If you love what you’re doing, work hard, because there is a direct correlation between increased effort, skill development, and better outcomes, similar to how Olympians or Navy SEALs dedicate themselves to their craft.
Record your decisions (e.g., poker hands) and critically review them, replaying scenarios to understand mistakes and avoid survivorship bias, which helps distinguish good play from lucky outcomes and fosters continuous improvement.
When investing in startups, prioritize the founder’s ability to not quit, as giving up is the number one killer of startups, even more so than running out of money.
Evaluate a founder’s singular focus by asking what else they are working on; a lack of other significant commitments (e.g., multiple side projects, nonprofits, conferences) indicates a higher likelihood of success in their primary venture.
When evaluating founders, view past failures where they worked on a company for years before shutting it down as a sign of resilience, hard work, and dedication, rather than a mark of being a ’loser'.
Reconfigure your brain chemistry to withstand numerous losses (e.g., 50-100) in angel investing, as a single outlier success can make up for all previous failures by paying off 200 to 1 or more.
Treat early-stage angel investments (companies with 2-5 people, product in market for weeks/months) as experiments, which helps manage the emotional impact of failures and encourages continued investment in new ventures.
When learning angel investing, bet small initially (e.g., $2,000 bets from a $500k bankroll) to gain information, then allocate larger amounts ($25k-$100k) to the top-performing companies based on their early traction.
For new angel investors, wait until a product is in the market and talk to actual customers (not friends/family) to reduce investment risk by 90%, ensuring there’s at least one person who likes the product.
Consistently take intelligent risks in poker and angel investing, understanding that a small edge over many iterations adds up over time, even if individual outcomes are not always favorable.
Play well below your financial means in high-stakes games to prevent the amount of money at stake from influencing your decision-making and causing your game to collapse.
Be self-aware of how others perceive your playing style and leverage that perception to your advantage, for example, by bluffing more effectively if you’re seen as a conservative player.
In poker, identify players better than you and avoid hands with them, while actively seeking to play hands against those who are not as skilled to maximize your edge.
Utilize no-code tools (e.g., Webflow, Bubble, Squarespace, Zapier) to rapidly build Minimum Viable Products (MVPs) and conduct experiments, significantly increasing the pace of innovation and product testing.
Never underestimate anyone, as great founders, like great chefs, can emerge from any background or location, bringing unique insights and business opportunities.
Actively create inclusive spaces and events for underrepresented groups to apply and participate, explicitly signaling that their entrepreneurial spirit and contributions are desired and valued in the industry.
Advocate for and participate in the democratization of private company investing, enabling individuals from all economic backgrounds to access high-growth opportunities and potentially move up socio-economic ladders.
Support initiatives that provide universal baseline healthcare and expanded public education, including trade schools, as these are fundamental to a fair society and prevent people from turning to less effective systems like socialism.
Treat all people, especially those in lower-paying jobs or just starting, with dignity and respect, recognizing that over-optimization of labor costs can be unnecessary and detrimental to societal fairness.
For those with wealth and power, avoid over-optimizing systems (e.g., tax avoidance, excessive demands for HQ locations) as it creates optics of unfairness and can lead to societal resentment.
Understand that even with a seemingly winning system like doubling bets in roulette, casinos impose limits to prevent players from weathering storms and guaranteeing wins, highlighting the importance of recognizing inherent game limitations.