(I’m just a compound interest program)
Relationships are a good example
Of compound interest
Once you've been in a good relationship
With somebody for a while
Whether it's business or it's romantic
Life gets a lot easier
Because you know that person's got your back
You don't have to keep questioning
If I'm doing a deal
With someone that I've dealt with for 20 years
And I trust them and they trust me
We don't have to read the legal contracts
Maybe we don't even need to create legal contracts
Maybe we can actually do it on handshakes
That kind of trust makes it
Relationships are a good example
Of compound interest
Once you've been in a good relationship
With somebody for a while
Whether it's business or it's romantic
Life gets a lot easier
Because you know that person's got your back
You don't have to keep questioning
If I'm doing a deal
With someone that I've dealt with for 20 years
And I trust them and they trust me
We don't have to read the legal contracts
Maybe we don't even need to create legal contracts
Maybe we can actually do it on handshakes
That kind of trust makes it
So, mental models are all the rage
Everyone's trying to become smarter
By adopting mental models
I think mental models are interesting
But I don't think explicitly
In terms of a mental-model checklist
That's just not how I think Instead
I tend to focus on the few lessons
That I've learned in life over and over
That I think are incredibly important
And seem to apply almost universally
One that keeps coming up is
The principal-agent problem
[Chorus]
The principal agent problem
(Say, say, say what?)
The principal agent problem
(Say, say, say what?)
Everyone's trying to become smarter
By adopting mental models
I think mental models are interesting
But I don't think explicitly
In terms of a mental-model checklist
That's just not how I think Instead
I tend to focus on the few lessons
That I've learned in life over and over
That I think are incredibly important
And seem to apply almost universally
One that keeps coming up is
The principal-agent problem
[Chorus]
The principal agent problem
(Say, say, say what?)
The principal agent problem
(Say, say, say what?)
Ethics is not necessarily something you study
It's something you think about
And it's something you do
Every one of us has a personal moral code
And where you got that moral code from
Is different for everybody
It's not like I can point you to a textbook
Sure, I could point you some Roman and Greeks text
But that's not gonna suddenly make you ethical
There's the golden rule, right?
Do unto others as you would have
Them do unto you
Or there's Nassim Taleb's silver rule
Don't do unto others
What you don't want them doing unto you
Once you've been in business long enough
You will realize how much of business is about trust
And it's about trust because you wanna compound interest
You wanna be able to work for long periods of time
With trustworthy people
It's something you think about
And it's something you do
Every one of us has a personal moral code
And where you got that moral code from
Is different for everybody
It's not like I can point you to a textbook
Sure, I could point you some Roman and Greeks text
But that's not gonna suddenly make you ethical
There's the golden rule, right?
Do unto others as you would have
Them do unto you
Or there's Nassim Taleb's silver rule
Don't do unto others
What you don't want them doing unto you
Once you've been in business long enough
You will realize how much of business is about trust
And it's about trust because you wanna compound interest
You wanna be able to work for long periods of time
With trustworthy people
You wanna figure out what you're uniquely good at
Or what you uniquely are
And apply as much leverage as possible
So making money isn't even something you do
It's not a skill
It's who you are stamped out a million times
Making money should be a function
Of your identity and what you like to do
Find three hobbies
One that makes you money
One that makes you fit
And one that makes you smarter
[Chorus]
Find three hobbies
One that makes you money
One that makes fit
Or what you uniquely are
And apply as much leverage as possible
So making money isn't even something you do
It's not a skill
It's who you are stamped out a million times
Making money should be a function
Of your identity and what you like to do
Find three hobbies
One that makes you money
One that makes you fit
And one that makes you smarter
[Chorus]
Find three hobbies
One that makes you money
One that makes fit
(Sure, you've got a great product)
(But you have to remember what you're really selling)
(Yourself)
Productize and yourself
Yourself has uniqueness
Productize has leverage
Yourself has accountability
Productize has specific knowledge
Yourself also has specific knowledge in there
And so, all of these pieces
You can combine them
Into these two words
[Chorus]
Productize yourself
Productize and yourself
(But you have to remember what you're really selling)
(Yourself)
Productize and yourself
Yourself has uniqueness
Productize has leverage
Yourself has accountability
Productize has specific knowledge
Yourself also has specific knowledge in there
And so, all of these pieces
You can combine them
Into these two words
[Chorus]
Productize yourself
Productize and yourself