Deleted member 5632
Best nose on the entire forum
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“Specific Knowledge” – because the term has a variety of definitions, and it can be pretty difficult to wrap your head around the concept.
But, how can you find it?
Figure out, what it is that you were doing as a kid, or as a teenager, almost effortlessly, that you didn’t even consider a skill, but people around you noticed – something your mother or best friend would notice.
It could be sales skills, it could be that you were musically talented, it could be that you had an obsessive personality, that you would dive into things and learn them very quickly, it could be your love for science fiction, you were into reading which means you can absorb knowledge very quickly, it could be that you played a lot of games, so you actually understand game theory very well.
Specific knowledge is a sort of a weird combination of unique traits in your DNA combined with your unique upbringing and your response to it – and it’s almost baked into your personality and your identity. And then you can hone it.
In short, specific knowledge is conceptually very similar to talent. It is knowledge that you and very few other people know.
Let’s take sales for example – good salesmen are trained, great salesmen are born. Some talents you just have to be born with.
You can become very very good at something with no talent and sheer effort, but you can’t reach the top ultra high end with effort alone.
Specific knowledge originates from your interests and passions – things you’re genuinely curious about.
You can hone specific knowledge – with effort, research and training. It’s like a spark in the haystack.
You can’t automate specific knowledge – it would be like adding hay where there is no spark.
Building specific knowledge will feel like play to you but will look like work to others.
You don't want to wageslave and create money, you want to create WEALTH. Very different.
When you do what you like, it doesn’t feel like work – you can’t not do it.
When you do what you don’t want to do, it feels tedious, like some heavy burden was placed upon you. You look at the clock and it’s barely moved.
Remember, executing specific knowledge feels effortless.
A King’s job is to rule. But a king is not “working” when he is ruling, he is simply being himself.
Leverage is a force multiplier for your judgment.
“Give me a lever long enough, and a place to stand, and I will move the earth.” – Archimedes
Let’s understand what leverage is.
Leverage is anything that lets you feel impacts more strongly.
An easy to understand finance example would be:
Scenario A: You invest $1,000 and make a 20% return.
Your gains: $200 or a 20% Return on Investment (RoI)
Scenario B: You invest $1,000 of your own money, borrow $10,000 from a bank at a 10% interest rate, invest the total $11,000 and make a 20% return.
Your gains: Operating cash flows – Interest Cost
= ($11,000 * 20%) – ($10,000 * 10%)
= $1,200 or a 120% Return on Investment
Leverage is risky, but leverage brings returns.
Leverage is throwing one stone and killing a city worth of birds.
Leverage is kicking at the ground and triggering an earthquake.
Capital and labor are “permissioned” leverage.
Only a few people have large amounts of capital, and if you want to leverage capital, you need someone to fund you – in other words, you need their permission.
The same thing goes with labor, you can pay labor, but you can’t own the laborer. The laborer has to be willing to do what you want him to do.
Code and media, however, are things where everyone has equal access to.
You don’t need any degrees or qualifications to code, you don’t need to negotiate with a bank to write a blog, start a YouTube channel, or even launch a tech startup from your dorm room.
All the new billionaires have been predominantly from tech.
That’s because of the vast scalability the internet provides.
Many personal blogs get 5000 visitors a day. And they run on a $5/month server.
And they’re open for business 24/7/365.
Think how big and expensive it would be to run a mall that gets 5000 people coming in every day. Now think how big the expense would be if it’s open 24/7.
That’s the power of the internet – Mark Zuckerberg would not be the youngest billionaire if he started a frat in his college instead of a social media website.
If you can’t code, write books and blogs, record videos and podcasts.
Coding is better than media because with code you can create products and services where you have virtually zero competition – you can create your own industry. You go from 0 to 1.
Of course, if you don’t have the aptitude for coding, media would be the next best thing.
Apply specific knowledge, with leverage, and eventually you will get what you deserve.
This should be self-explanatory.
Apply your unfair advantage, and use leverage to multiply its rewards = you’ll get “what you deserve”. Good luck everyone.
@Lorsss @her best of best??
But, how can you find it?
Figure out, what it is that you were doing as a kid, or as a teenager, almost effortlessly, that you didn’t even consider a skill, but people around you noticed – something your mother or best friend would notice.
It could be sales skills, it could be that you were musically talented, it could be that you had an obsessive personality, that you would dive into things and learn them very quickly, it could be your love for science fiction, you were into reading which means you can absorb knowledge very quickly, it could be that you played a lot of games, so you actually understand game theory very well.
Specific knowledge is a sort of a weird combination of unique traits in your DNA combined with your unique upbringing and your response to it – and it’s almost baked into your personality and your identity. And then you can hone it.
In short, specific knowledge is conceptually very similar to talent. It is knowledge that you and very few other people know.
Let’s take sales for example – good salesmen are trained, great salesmen are born. Some talents you just have to be born with.
You can become very very good at something with no talent and sheer effort, but you can’t reach the top ultra high end with effort alone.
Specific knowledge originates from your interests and passions – things you’re genuinely curious about.
You can hone specific knowledge – with effort, research and training. It’s like a spark in the haystack.
You can’t automate specific knowledge – it would be like adding hay where there is no spark.
Building specific knowledge will feel like play to you but will look like work to others.
You don't want to wageslave and create money, you want to create WEALTH. Very different.
When you do what you like, it doesn’t feel like work – you can’t not do it.
When you do what you don’t want to do, it feels tedious, like some heavy burden was placed upon you. You look at the clock and it’s barely moved.
Remember, executing specific knowledge feels effortless.
A King’s job is to rule. But a king is not “working” when he is ruling, he is simply being himself.
Leverage is a force multiplier for your judgment.
“Give me a lever long enough, and a place to stand, and I will move the earth.” – Archimedes
Let’s understand what leverage is.
Leverage is anything that lets you feel impacts more strongly.
An easy to understand finance example would be:
Scenario A: You invest $1,000 and make a 20% return.
Your gains: $200 or a 20% Return on Investment (RoI)
Scenario B: You invest $1,000 of your own money, borrow $10,000 from a bank at a 10% interest rate, invest the total $11,000 and make a 20% return.
Your gains: Operating cash flows – Interest Cost
= ($11,000 * 20%) – ($10,000 * 10%)
= $1,200 or a 120% Return on Investment
Leverage is risky, but leverage brings returns.
Leverage is throwing one stone and killing a city worth of birds.
Leverage is kicking at the ground and triggering an earthquake.
Capital and labor are “permissioned” leverage.
Only a few people have large amounts of capital, and if you want to leverage capital, you need someone to fund you – in other words, you need their permission.
The same thing goes with labor, you can pay labor, but you can’t own the laborer. The laborer has to be willing to do what you want him to do.
Code and media, however, are things where everyone has equal access to.
You don’t need any degrees or qualifications to code, you don’t need to negotiate with a bank to write a blog, start a YouTube channel, or even launch a tech startup from your dorm room.
All the new billionaires have been predominantly from tech.
That’s because of the vast scalability the internet provides.
Many personal blogs get 5000 visitors a day. And they run on a $5/month server.
And they’re open for business 24/7/365.
Think how big and expensive it would be to run a mall that gets 5000 people coming in every day. Now think how big the expense would be if it’s open 24/7.
That’s the power of the internet – Mark Zuckerberg would not be the youngest billionaire if he started a frat in his college instead of a social media website.
If you can’t code, write books and blogs, record videos and podcasts.
Coding is better than media because with code you can create products and services where you have virtually zero competition – you can create your own industry. You go from 0 to 1.
Of course, if you don’t have the aptitude for coding, media would be the next best thing.
Apply specific knowledge, with leverage, and eventually you will get what you deserve.
This should be self-explanatory.
Apply your unfair advantage, and use leverage to multiply its rewards = you’ll get “what you deserve”. Good luck everyone.
@Lorsss @her best of best??
