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I need to get myself some of those rugs!

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Feb 26, 2023Liked by Daniel Vassallo

Over a period of time, I came to a certain mindset that any idea that came to your mind initially has the right to be built, because before you attempt to bring it to life , you won’t know for sure whether you’ll achieve results in this area or not.

But before I start any project in any field, I observe how other people have implemented something similar, so perhaps they have already come up with a working model and so you do not need to spend a couple of years to come to the progress they for example already have.

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Nice write-up. I consider it a modern take on the 80/20 principle.

20% of your cattle will yield 80% of the resources you need to sustain yourself on.

Imagine treating the 80% that gives you close to nothing like your beloved pet!

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Feb 26, 2023Liked by Daniel Vassallo, Louie Bacaj

Great analogy, and I think there’s a dichotomy here too. Some might take the advice too far and drop a project as soon as they lose interest. I do think there’s something to having the ability to stick with something and keep a more long-term mindset, that stays consistent through wavering interest and success.

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Feb 26, 2023Liked by Daniel Vassallo, Louie Bacaj

Love the new portal 🔥

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Love this! Thanks for reminding again not to get emotionally attached to your projects and power of diversification.

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Obviously, understanding the utility of the sheep is key here. How do you do the same with a small bet? What other heuristics should one be aware of for testing, validating, and potentially, abandoning a small bet?

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I had a conversation with a friend of mine. We came to a realization that what’s needed is not creating a New Thing. Sometimes the most profitable business is targeting a new or underserved niche for an Old Thing, aka “boring business”.

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