When the fixed cost of a category is high, the relative cost of the best version of the product in that category is relatively low.

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One of the things that makes you independent is to accumulate capital because the capital can grow on its own. If you have enough capital, it will support you indefinitely. So when you’ve achieved that goal, there’s no point in spending time doing anything you don’t like doing if you can help it.

– Ed Thorp

Barbarism is unified but undifferentiated; triviality is differentiated but lacking in any central unity; the ideal of civilization is the integration into a complete whole and with the minimum strain of the maximum number of distinct activities…a civilization [could] be judged by this double standard: the degree of diversity attained and the degree of unity retained

– W.H Auden

Value creation is always a good first priority for new industries, but value capture ultimately matters a lot, too—especially because industries that can’t manage it are run by capital markets and professional managers rather than founders.

– Byrne Hobart

Mathematics is not a deductive science – that’s a cliche. When you try to prove a theorem, you don’t just list the hypotheses, and then start to reason. What you do is trial and error, experimentation, guesswork.

– Paul Halmos

It is impossible to live in the past, difficult to live in the present and a waste to live in the future.”

– Frank Herbert

Anyone who tries to make a distinction between education and entertainment doesn’t know the first thing about either.

– Marshall McLuhan

Judicious use of a tool requires awareness of possible side effects and reactions. Otherwise, indiscriminate use may result in side effects and reactions outweighing the benefits…The cure is sometimes worse than the disease.

– V.F Ridgway

Confidence is not the same as a guarantee- and I would never propose that people trust themselves to have the answer or trust themselves to succeed… it’s simply that trusting yourself is better than not trusting yourself. Shipping your best version is better than not shipping it and deciding to get better at something is the only way to get better at it.

– Sethi Godin