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Feb. 23, 2022

What gets measured, gets managed.

For the past 33 years, I have looked in the mirror every morning and asked myself: 'If today were the last day of my life, would I want to do what I am about to do today?' And whenever the answer has been 'No' for too many days in a row, I know I need to change something. - Jobs

Everything around you that you call life was made up by people that were no smarter than you. And you can change it, you can influence it… Once you learn that, you'll never be the same again. - Jobs

Your second life begins when you realize you only have one.

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful. - Buffett

Widespread fear is your friend as an investor because it serves up bargain purchases. - Buffett

You can't produce a baby in one month by getting nine women pregnant. - Buffett

An investor should act as though he had a lifetime decision card with just twenty punches on it. - Buffett

If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes. - Buffett

Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be a more productive than energy devoted to patching leaks. - Buffett

It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently. - Buffett

The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd. - Buffett

Only when the tide goes out do you discover who's been swimming naked. - Buffett

The best chance to deploy capital is when things are going down. - Buffett

Cash ... is to a business as oxygen is to an individual: never thought about when it is present, the only thing in mind when it is absent. - Buffett

After 25 years of buying and supervising a great variety of businesses, Charlie and I have not learned how to solve difficult business problems. What we have learned is to avoid them. - Buffett

People who are right most of the time are people who change their minds often. - Bezos

E-mail has some magical ability to turn off the politeness gene in a human being. - Bezos

You can have the best technology, you can have the best business model, but if the storytelling isn't amazing, it won't matter. Nobody will watch. - Bezos

There are two kinds of companies, those that work to try to charge more and those that work to charge less. We will be the second. - Bezos

Friends congratulate me after a quarterly-earnings announcement and say, 'Good job, great quarter.' And I'll say, 'Thank you, but that quarter was baked three years ago.' - Bezos

I do get asked, quite frequently ‘What’s gonna change in the next 10 years?’ I’m rarely get asked, and it’s probably more important — and I encourage you to think about this — is the question what’s not going to change? The answer to that question can allow you to organize your activities. You can work on those things with the confidence to know that all the energy you put into them today is still going to pay dividends in the years to come. - Bezos

If you're not flexible, you'll pound your head against the wall and you won't see a different solution to a problem you're trying to solve. - Bezos

You can have a job, or you can have a career, or you can have a calling. - Bezos

People who are right a lot listen a lot, and they change their mind a lot. People who are right a lot change their mind without a lot of new data. They wake up and reanalyze things and change their mind. If you don’t change your mind frequently, you’re going to be wrong a lot. People who are right a lot want to disconfirm their fundamental biases. - Bezos

It's possible to transcend anything that doesn't kill you. - Goggins

Personalization. Putting the customer at the center of your universe, and building the perfect store for that customer. So if we have 10.7 million customers today, we should have 10.7 million stores. - Bezos

My proudest moments hearing about customer experience at Amazon, is when we talk somebody out of buying something. - Bezos

I believe that one of the measures of our success in the future will be our ability to continue to defy easy analogy. It shouldn’t be so easy to figure out who are‘s competitors. If it were really easy to say, this person, this person, this person, this company, this company are Amazon‘s competitors; that would mean we aren’t building something new. - Bezos

So, I'd much rather act like a startup. I have no history. I have no past. I have no customers. I have no install base. What would I do? Because, by the way, that's what your competition is doing. You might as well strap that one on, try it on for size. It's just a tactic and a mindset. - Frank Slootman

You talk about focus. I mean, I love to ask people. "Yeah. Okay. It's February. If you can only do one thing this year, what would it be? And why?" - Frank Slootman

Sometimes life saves us from our wants - Mike Maples

We were good at ignoring things that were difficult and good at finding things that were easy - Munger

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