1/ Short Selling 101

With the markets continuing to rally, there has been more talk of “shorting” or “short selling” stocks.

But what does that mean and how does it work?

Here’s a quick educational primer: Short Selling 101

In 1983, a 52-year-old senior executive at Texas Instruments was passed over for the company's top job.

He would go on to found and build the most strategically important company in the world.

Who's up for a story?

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1/ Morris Chang was born into a middle-class family on July 10, 1931 in Ningbo, Chekiang, China.

The early years of his life were set against a backdrop of hardship.

Wars and widespread poverty had overwhelmed the country, exposing him to this suffering at a young age.

2/ His father - an official in the local government - encouraged Morris to focus on school.

Fleeing the violence of the ongoing wars, Morris and his mother moved frequently.

His studies became his respite.

In 1948, at the height of the Civil War, they moved to Hong Kong.

3/ In 1949, Morris Chang was accepted to Harvard University.

He moved to America.

After just one year at Harvard, he transferred to The Massachusetts Institute of Technology (MIT) to study engineering.

He graduated in 1953 with a B.S. and M.S. in Mechanical Engineering.

4/ While he had originally intended to continue his studies and get a PhD, he failed his qualifying exam, so was forced to enter the job market.

He took an entry-level job with Sylvania Semiconductor, but quickly realized the company wasn't forward-thinking enough for his style.

Ikigai is a powerful concept for finding purpose and clarity to unlock growth in your career, startup, business, writing, or relationships.

A thread on its meaning and how it can change your life...

Ikigai is a combination of the Japanese words “iki” (or “life”) and “gai” (a term to describe value or worth).

It roughly translates to “reason for being.”

It is all-encompassing - it is not simply about work, money, or success - it is about the full scope of your existence.

Ikigai is the point of balance and harmony in your life and work.

It is found at the intersection of:
(1) What you love to do
(2) What you are good at
(3) What the world needs
(4) What you can be paid for

Importantly, it is at the nexus of passion and practicality.

The concept of Ikigai can be traced back to 12th century Japan, but its exact genesis is unknown.

It gained a mainstream following after Dan Buettner’s famous 2009 @TEDTalks on his research on @BlueZones (regions where people live longer than average).

In his research, Dan Buettner found that purpose and fulfillment led to improved longevity.

Put simply, embracing the concept of Ikigai contributed to enhanced health (mental and physical) and longer lifespans.

These paradoxes will change your life:

The Brakes Paradox

What allows a Formula 1 driver to fly around the track?

It's not the engine, the tires, or the suspension.

It's the brakes.

Strong, reliable brakes unlock the driver.

Build brakes into your life that allow you to accelerate and hit turns without fear.

The Advice Paradox

Taking more advice leaves you less well-equipped.

Most advice sucks.

It's well-intentioned, but it's dangerous to use someone else's map of reality to navigate yours.

Winners learn to filter and selectively implement advice—take the signal, skip the noise.

The Opportunity Paradox

Take on less, accomplish more.

Success doesn’t come from taking on every opportunity.

It comes from deploying energy on the opportunities that matter—the 10x opportunities.

Time and energy are finite.

Say yes to what matters & no to everything else.

The Persuasion Paradox

Have you noticed that argumentative people rarely persuade anyone of anything?

Persuasive people don’t argue—they observe, listen, and ask questions.

Argue less, persuade more.

Persuasion is an art that requires a paintbrush, not a sledgehammer.

The Cantillon Effect is the most important economic concept you’ve never heard of.

Here's a breakdown of what it is (and why you should care):

1/ Richard Cantillon was an Irish-French economist and philosopher born in the 1680s.

He achieved success as a banker—which he attributed to the formidable connections made through his family and employer.

At a young age, he had learned of the impact of proximity to power...

2/ Around 1730, Cantillon wrote a paper—Essay on the Nature of Commerce in General—which is considered a foundational work in the study of the political economy.

It was widely circulated in manuscript form, though it was not published until 1755, well after his death.

3/ In the paper, Cantillon posited that the early recipients of new money entering an economy will benefit more significantly than those it trickles down to.

In other words, the "flow path" of the new money matters!

4/ In 18th century terms, those closest to the King—the source of money/power—benefitted first when new money entered the economy.

Broadly, Cantillon observed that new money creates distributional effects based on where it enters the system.

The Cantillon Effect was born...