the biggest risk for today's founders may no longer be thinking too big, but thinking too small
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A world model is an internal mental simulation constructed by an AI system that represents the physics, spatial relationships, geometry, and dynamics of the real world.
Michael Spencer
Most people think of risk as the probability of losing money. But the real risk is the permanent impairment of capital — a temporary price decline is not a loss unless you sell. The investor who confuses volatility with risk will systematically sell at exactly the wrong moment.
Seth Klarman — Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor
customers are always beautifully, wonderfully dissatisfied, even when they report being happy and business is great. Even when they don’t yet know it, customers want something better, and your desire to delight customers will drive you to invent on their behalf.
Jeff Bezos