The Principle Podcast

The Principle Podcast
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  1. 12/18/2022

    Building & buying businesses with Michael Girdley

    Today’s conversation is about building and buying businesses with the expert on Holding Companies—Michael Girdley. Michael is an investor based in San Antonio, TX, with 11 ventures in his portfolio. He’s garnered a massive audience on Twitter, where he shares 25 years of business knowledge, much of which we unpacked in this conversation. Expect to learn Michael’s step-by-step process for finding amazing talent, his framework for finding kick-ass investments, the two trends that Michael thinks we should be paying attention to, and much more. If you’re interested in diving deeper into Holdcos, be sure to check out The Complete Holding Company Course. Enjoy! Timestamps: (0:32): Who is Michael Girdley? (2:24): Holdco 101. (7:56): Fireworks business. (12:39): Service-based businesses. (18:08): Tackling the Principal-Agent Problem. (23:04): Finding amazing talent. (29:15): Finding kick-ass investment opportunities. (34:00): Supercharge your business ideas by TRAVELING. (36:49): A nuanced take on remote work. (40:44): SMB acquisitions in a recession. (44:25): Hard skills for young people. (47:12): Trends to pay attention to (not AI & crypto). (53:12): Holdco course. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit theprinciplepodcast.substack.com

    55 min

  2. 12/04/2022

    Internet Wizardry with Scott DeLong

    What comes to mind when I say the words ‘financial independence’? Maybe… * Building a big company * Recruiting a team * Pitching investors in stressful meetings What if I told you financial independence was achievable by building cool websites that make money? And, as a team of one. My guest today is Scott DeLong. Scott has an inspiring story of escaping the rat race and finding freedom on his own terms: fully remotely, no raising capital and no mindless busy work. Scott has a passion for writing timeless content that resonates with its audience. He’s developed an understanding of human psychology not by reading books, but by tinkering with marketing campaigns that have generated billions of page views and tens of millions in revenue. This episode is a bit different. Instead of recording a conversation, I sent Scott a few questions that I wanted his perspective on. Here are his thoughts about creating timeless content. Subscribe for free to get more stories like this straight to your inbox 📨 Q: Why build in stealth for so long? What eventually led to you opening up about your journey? A: Since 2005 when I started making money online, I’ve just always been very private about what I’m doing. I never felt the need to talk about it, and it was always difficult to explain it. People just assumed I was a web designer for years, including my own family. When journalists dug me up after the explosion of Viral Nova, I briefly tried to embrace it… but it wasn’t enjoyable. The site was slightly controversial and the attention was really stressful for an introvert who just likes to build. Recently, with the birth of my daughter, I’ve thought more about my legacy and what I want to contribute to the world. And the number one thing I can contribute is this skillset – so that’s why I’ve opened up now. Q: How do you fight feeling like you have to create content, but have NO inspiration? A: You really need a driving force to combat that. I was very obsessive through my 20s about reaching financial independence by the time I turned 30. The drive was so strong that, even on days I was burnt out, it just didn’t matter. The end goal was stronger than the lack of inspiration, so I’d just push through and ultimately find inspiration. It’s different now at age 40. It’s much harder to find inspiration when I don’t need to find it. That’s why I’m focusing on my number one passion: the process of building a business, not so much building a business. But of course this is a business in itself! Q: Is your motivation helping people? If not, what is it (other than financial independence, which you’re reached)? A: Yes, helping people is a huge motivator. I genuinely love receiving emails from people who have learned something. I guess you can call that ego-driven but, whatever it is, it works. I’m not sure if you’re aware of Financial Samurai, but I basically want to be the website builder version of him. His personal experiences and knowledge really shine through in his writing, and you can tell it’s effortless because he really loves it. Same here, so it’s win-win for me and my readers. Q: What’s the best and worst advice you’ve ever been given? What are your general thoughts on advice? A: My dad is a small town businessman, and I realized later in life how many small things he said added up. He’s a believer in paying attention to the details and the psychological effects on your customer when you go the extra mile. He instilled a work ethic in me without even really trying. As far as the worst advice, I’m not sure. I tend to think what a lot of teachers and guidance counselors said during high school, but it’s not really their fault. It’s all they knew to suggest and they’ve never broken out of the norm, so I can’t expect them to advise anyone else to do so. Generally though, advice is thrown around far too much. Too many people without all the details give their opinion, and it’s actually pretty damaging. We should tread very lightly with what we advise others to do! Q: Should creators strive for originality? A: Of course. In Austin Kleon’s books, Steal Like an Artist and Show Your Work, he does a great job of very simply demonstrating that nobody is actually original. We tend to mimic those we admire to the point that we ultimately become original. So there’s nothing wrong with “borrowing.” Q: On a recent All-In Podcast, David Friedberg said, "If you don't have content creation in your blood, you have to buy a content business, or you're gonna die." Do you agree? A: Yeah, I think so. You could also pay others to do it for you from scratch, but that’s mostly the same thing. That said, if someone doesn’t have content creation in their blood, then maybe a content business isn’t for them? Q: What makes content “timeless” vs. “cheap”? A: Content that is true at the very core of psychology tends to be timeless. So even if typewriters are obsolete and we all use computers now, a piece of content created 50 years ago is still timeless if it’s about what you can do with the a typewriter. It’s still true today; just a different medium. Cheap content comes from researching low hanging keywords and paying someone pennies to write something about it so you can rank for a few months til Google kills your site. A lot of what I wrote in my guides on my site is already somewhat outdated (at least as I view it), but the core principles I think have been true forever. I like to think it’s got a timeless element to it. Q: Explain: “I have had this impossible vision in my mind for years: if everyone put forth all of the knowledge and experiences of their lives into a format meant to help other people, the world would exponentially improve.” A: It goes back to what I am encouraging people to do: identify your passion and expertise, put your knowledge out there for the world to consume, and profit. If everybody unleashed the actual value in their minds — instead of nonsense, which is so easy to do — it would be like the ultimate interactive, always-evolving Wikipedia with personality. We’d all get smarter. Q: Explain: The emptiness of Twitter is destroying our motivation. A: I believe this originally came from some notes on my phone. I’ve actually done quite a reversal since jotting that down. I was following some of the worst accounts or, even more so, I wasn’t following enough accounts, so the algorithm was showing me awful posts where everyone’s just the worst versions of themselves. Since then, I’ve cured my Feed to be much better. I do see the value in Twitter, but too much of it detracts from motivation (unless Twitter is literally where you’re making your job of course). Q: Explain: The dark irony of trying to get rich. A: I think what I meant here is that those who successfully become wealthy and no longer have to work… end up continuing to work forever. And those who would actually stop working to enjoy life inherently lack the right qualities to ever make it. Q: What’s the most ridiculous content site you’ve seen make money? A: There are some ridiculous ones, but one of my favorites of all time is coolmath.com. To this day, if you go to the site, it looks like it was built in 1998. When you dive into the story (and some of this I learned at a bar from a friend in the industry), it was made by a random retired school teacher named Karen. It was making as much as $80,000 PER DAY. Yes, per day. You’ll be hard pressed to find more information, but I believe she ultimately sold it to a private equity company. But I am not sure — it’s just so wild to me that an old school site that helps kids with math can bring in so much money for one person. That’s why I love the Internet. Feel free to share with the world 🌎 Q: Why do you believe “the internet is an infant”? A: In the grand scheme, it’s still so young. It’s only been the last handful of years that you can have a conversation with the average person and they know what you’re talking about when you say things like Wordpress, Squarespace, Shopify, and so on. And, even now, a lot of people don’t. Ultimately, we’ll probably all be making our money online in one way or another. Another reason is that, when we look back on the current tech giants 30 years from now, it’s going to be hard to imagine they had so much control. It’s going to be strange that a small business, like a website, could really just go away completely because Google pushed a button. There’s a lot of learning and evolving ahead of the Internet, and that’s why I say it’s still an infant. I’ve met a lot of niche website flipping gurus online, and I have to say Scott is the real deal. He takes his craft seriously, and isn’t trying to scam anyone to make a quick buck. Scott’s running a challenge to see whether he can turn $20,000 into $500,000 in just one year. You can get front-row seats inside the mind of an Internet genius by subscribing here. I hope this episode was a reminder of why it’s important to trust your judgement and think for yourself. Thanks for listening! Another banger from DALL•E for the cover photo 🔥! This time, I asked it to give me a “wizard sitting at a desk on his laptop with money flowing out of the screen.” This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit theprinciplepodcast.substack.com

    10 min

  3. 11/20/2022

    Renaissance Man

    When I hear the words, Renaissance Man, I think back to learning about Leonardo Da Vinci in history class. A man whose countless curiosities led him down the path of countless disciplines. Lately, I’ve devoured every piece of content – podcasts, articles and tweets – from Balaji. I can’t help but describe him in the same light as Da Vinci. A modern day Renaissance Man.  In case you happen to live under a rock, here’s a quick snapshot of his resume: Angel investor. Serial tech founder. Former CTO of Coinbase. General Partner at a16z. Futurist. Author of The Network State.  But that’s not why I admire Balaji’s work. If you spend 5 minutes listening to the guy speak, you’ll realize that he’s a well-researched, articulate, independent thinker. And, he’s funny (at least I think so). I’ve curated 6 of Balaji’s most thought-provoking reads. If you’re fascinated by leveraging technology to sculpt a better future, this post is for you. Software Is Reorganizing the World (November 22, 2013) Excerpt: ”the SoundCloud engineer on a laptop in Berlin builds a deeper relationship with the VC in New York than the nearby Bavarian bank.” Takeaway: For our ancestors, America was the ultimate destination. The promised land of opportunity. Today, those seeking opportunity might not have to shift geographies at all… Technology is continuing to make location less relevant. Millions of people are finding their people online (shoutout WOP Cohort 9), smartphones are making everything available at our fingertips, and travel is increasingly efficient (just don’t fly TAP Air). We’re firmly in the remote work era. Balaji takes it a step further and introduces the idea of creating a new nation of emigrants. This piece marks the early days of The Network State. 2020: The Year the Internet Age Truly Began (May 23, 2020) Excerpt: “It used to be that the physical world was primary, and the internet was the mirror. Now that has flipped.” Takeaway: This piece is a dialogue between Balaji and an Israeli Politician discussing two blind spots that COVID revealed. * We assumed the Internet changed everything, but never noticed how education, healthcare and government were largely unaffected by it. Then, COVID happened. * Teachers had to adapt to online learning, parents adopted homeschooling * Digital health services skyrocketed, medicines delivered to homes * Outdated government processes became online-first. Fighting a ticket on Zoom, for example, is now the norm. * “Nothing against sports, fashion, or video games, but we've been overallocated on leisure and underallocated on the things that matter, like health.” I argued a similar point in Sober Socializing – how more information is leading us to making more conscious decisions about our health.  The Purpose of Technology (July 19, 2020) Excerpt: “The point of doing a startup after all is to build something you can't buy.” Takeaway: YouTube democratized media. Refrigerators made our food last longer. WhatsApp increased communication. Technology is how we describe things that help us do more. Lifespans are finite. Someday, the music stops. That’s why we’re always looking for ways to do things faster – to not waste time. But what if we could extend lifespans? Or eliminate death altogether? Would saving time still be as valuable? Balaji argues that “if the proximate purpose of technology is to reduce scarcity, the ultimate purpose of technology is to eliminate mortality.” Most of us aren’t aware of the life-changing technologies that exist today, like the procedures proven to reverse aging (yes, really).  Why? Because technologists are so obsessed with building that they forget don’t care about telling the world. We need to start evangelizing technological progress. By getting people on the hype train, we motivate everything we do with a singular purpose – eliminating mortality. Balaji hit us with a one-two punch here:  * Instead of looking for faster band-aid solutions, attack the root-cause: human mortality. Which begs the question: can it really be solved? * He’s right. Hardcore technologists aren’t the ones on Twitter or TikTok raving about their breakthroughs. We need to find a way to get people aware and on board with tackling big problems. Thanks for reading The Principle Podcast. Feel free to start evangelizing with a friend. The Ascending World (March 29, 2021) Excerpt: “The recent introduction of billions of smartphones to places like India and Nigeria affords a ‘mobile telescope’, a way to evaluate talent worldwide.” Takeaway: Balaji opens with the story of Ramanujan, a mathematician from India who was almost never discovered due to his poor upbringing. By stroke of luck, a mathematician named GH Hardy received his letter (the OG cold email), and flew him out to London to meet. The existence of Ramanujan changed the face of mathematical research, showing how we ignored the greatest talent due to a lack of a mechanism for discovery. There are tons of examples of this level of greatness outside the Western world that simply don’t get enough attention. This will change thanks to the accessibility the Internet and smartphones provide.  Therefore, the terms “developed country” and “developing country” are obsolete, because they imply an end state. In other words, is the US is done growing because it’s characterized as a developed country? The new paradigm is about “ascending” and “descending” parts of the world. I’ll probably raise some eyebrows with this opinion, but two cities come to mind immediately: Miami and San Francisco.  Despite parts of the city that are literally declining with rising sea levels, Miami’s got a lot going for it. It’s quickly becoming the crypto capital of America, attracting top talent to its workforce and sending property values soaring. San Francisco, once the golden child of the US, is almost unanimously described as a shit-show (no pun intended). The city is plagued by homelessness, crime and a high cost of living. Bitcoin is Civilization (May 14, 2021) Excerpt: “If you care about free speech and privacy, if you care about free trade and rule-of-law, if you care about provable fairness and economic stability, then you should care about cryptocurrency.” Takeaway: In this article, Balaji gives us 10 reasons why Bitcoin (and, more broadly, cryptocurrency) is a tool for Western values. * In places with economic instability and authoritarianism, Bitcoin has been used by activists (Venezuela to fight inflation, Alexei Navalny in Russia). * Prominent investors (Druckenmiller, Paul Tudor Jones) are using Bitcoin as an inflation hedge – similar to gold in the Weimar Republic.  * Decentralization guarantees access and fairness. DeFi protocols make the crypto banking system accessible without gatekeepers. * With no central authority to moderate content, crypto’s decentralized social networks protect free speech. * Civil asset forfeiture is a controversial practice in which the police can seize your property without conviction or charging for a crime (WTF). Crypto provides a solution – it’s harder to seize digital property. * Crypto, because of its inherent encryption, protects online privacy. * Crypto is experiencing hypergrowth. “It’s the next Silicon Valley.” * Smart contracts provide surety and commitment. Contract enforcement is part of the protocol. * Crypto can be a force for unity. Regardless of your political views or your geography, everyone in the same crypto network prospers or fails together. * International code-based order. Because the blockchain executes the same way regardless of territory, crypto will facilitate cross-border trade.  I’m not sure numbers 2 and 7 hold up in Q4 2022 (thanks, SBF), but compelling nonetheless.  The Network State (July 4, 2022 – well played) Excerpt: “In a Nation State, geography is primary, belief is secondary. In a Network State, belief is primary, geography is secondary.” Takeaway: And finally, Balaji’s magnum opus. The culmination of the ideas he’s shared for years, distilled into v1 of an online book.  Why reform a country when it’s easier to build one from scratch? Something that doesn’t rely on what already exists, because that leads to fighting over resources like land. There are 3 conventional ways to start a country: election, revolution and war. Unfortunately, they all suck. There are 3 unconventional ways to start a country: micronations, seasteading and space colonization. Unfortunately, these are largely unproven or flat-out foolish. Balaji proposes that the best way to do it is through Network States. A network state starts with One Commandment – a unifying idea that motivates people to build something bigger than themselves.  A vegan society, for example, would outlaw all animal-based goods in favor of awful tasting foods (jk, vegan friends). The state would begin as an online startup society, developing its own cryptocurrencies and laws enforced through smart contracts. Members would hang out first in VR settings, but migrate to IRL once the society has crowdfunded the purchase of physical land.  It’s important to note that thanks to the hyper-connectivity of the Internet, the physical land does not need to be contiguous. Once the society has reached a significant size, it may seek diplomatic recognition from the UN to become a full-on Network State. Thanks for reading The Principle Podcast! Subscribe for more content right to your inbox. Welcome to the future. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit theprinciplepodcast.substack.com

    11 min

  4. 11/13/2022

    Cancel your gym membership

    Going to the gym sucks. The traffic on your drive there. Waiting for an open squat rack. Cleaning up after the guy who leaves pit stains all over the bench. What if there was a better way to get strong and look great? What if all you needed was a bell, a rope, and a mat? You’re in luck. Follow me. Fitness is a broad term. It can mean a lot of things. Training for an Iron Man looks vastly different than training for a Men’s Physique competition. Start with a simple question: what does fitness mean to you? For me, it’s funny how much the answer to that question has evolved. Flashback to my high school and early college days, when all I cared about was getting as “yolked” as possible. Just thinking about the Arnold wallpaper on my iPhone 4S makes me cringe. As I got older, I started understanding the importance of taking care of your heart and moving pain-free. Nobody should be the bodybuilder who’s out of breath walking up the stairs.  I now look at fitness as something that should be enjoyable & enhance other aspects of my life. Workouts should be fun, efficient, and energizing. You shouldn’t have to commute 30 minutes, then sit around waiting for equipment. Mainstream gym protocols emphasize isolating parts of our bodies into muscle groups. The problem is, our bodies aren’t machines (yet) in which the parts can be isolated. How often in your real life are you doing a movement that looks like a tricep pushdown? This isolating of muscles from the entire body is what sets us up for fragility and easy injury. Strength is important, especially as we age. There had to be a better way to build strength and move better… Enter the bell That’s when I found kettlebells. They can be as heavy as you need (some brands offer up to 200 lbs) and can be stored in your apartment.  There are plenty of resources online to understand the benefits of kettlebell training. Tim Ferris’ episode with Pavel Tsatsouline is a great place to start.  Like what you’re reading? Feel free to spread the word! The reason I started training with kettlebells is because I wanted to move better. Think of it as developing Holistic Strength.  Doing leg extensions with 100 lbs is cool. But you know what’s cooler and has broader applications to the real world? Rotating your torso, pressing a 50 lb kettlebell over your head, and touching the ground.  That movement works nearly every muscle group in the body at once. How’s that for efficiency? Kettlebells work your muscles through real planes of movement. Not only will they strengthen your muscles and tendons, but they’ll also test your cardiovascular health. A true double threat. Simply testing my cardiovascular health wasn’t enough. I needed a way to build my endurance… Enter the rope I don’t have anything against running on the treadmill, I just think it’s f*cking boring. Okay, yeah treadmills suck… When the pandemic hit and gyms shut down, I needed a way to train my endurance. I ran outside for a while, but that gets dicey with snow on the ground. So, I bought a jump rope since I could use it indoors. Spoiler alert: I haven’t looked back since.  There’s no better feeling than the euphoria from a morning jump rope session, with the crisp fall breeze cooling you down. Music blasting in your ears as you crank out your last set of high knees, criss-crosses, and pushups.  Not only are jump rope workouts a fun way to build endurance, but they also develop your agility, coordination, and strengthen your feet. All things high on the list for functional fitness. If you’re in the fitness game for the long haul, you need to keep your heart healthy. Grabbing yourself a jump rope is an amazing way to do it. Strength and power from kettlebells: ☑️. Cardio blasting from jumping rope: ☑️. Now, what about recovery from all that work? Enter the mat As we train with heavy weights, mobility and flexibility aren’t just important, they’re essential.  On average, Tom Brady has been sacked 1.71 times per game. Over 326 games, that’s a gargantuan NFL lineman running you over full-speed 557 times. Ouch. Can you believe he’s still playing in the NFL at 45 years old? What’s his secret? Pliability. Pliability is when your body is resilient and moves without restriction. How do you make your body more pliable? Through a combination of deep-tissue massaging and stretching.  My favorite way to work on my mobility and recovery at the same time is by practicing yoga. The poses might look funny, but you’ll feel 10x better after doing them.  The fitness industry has us convinced that a gym is necessary to be your fittest self. It’s simply not true.  All you need to start is: two kettlebells (20% and 40% of your bodyweight), a $15 jump rope, and a yoga mat. So do it. Break up with your gym, and make a commitment to yourself. If you need some guidance, here’s my fitness page. (Wondering how I got here? That’s a story for another day.) Subscribe for $free.99 Let’s break the stigma of needing a gym to have strength, flexibility, and endurance. Together. DALL•E is 2 for 2 on cover photos! This week, I asked it to create “a photo of Michelangelo's sculpture of David holding a kettlebell.” 👏 This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit theprinciplepodcast.substack.com

    6 min

  5. 11/06/2022

    Nah, I'm not drinking tonight

    The sun rudely bursts through the sliver of space my blackout curtains decided to miss. I reach over to grab the S’well bottle on my nightstand, but find that it’s only half full. After gulping it down, my mouth still feels as dry as the desert. “I barely had three drinks last night… how am I hungover?” I drag myself out of bed, knowing full well how ineffective my brain is gonna be today. “I’m never drinking again,” I lie to myself.  A week passes by, and the glorious cycle repeats itself again.  I’ve never had a binge drinking problem. But lately, for me, things have changed. I’ve stopped entertaining even the casual drink, and have opted for no drinks at all. Most of the time, the tradeoff doesn’t seem worth it. Dr. Andrew Huberman was recently a guest on the Modern Wisdom podcast. After they recorded, the host, Chris Williamson, tweeted something that resonated with me: Holy shit is that true.  I find it funny that every time I’ve turned down a drink, people have assumed it’s because I have a drinking problem. We know how harmful alcohol is to the body: * Higher stress levels * S****y sleep * Side effects to the gut Yet I’m the one with the problem for not having a beer? The whole thing seems so backwards.  I’m noticing an *anti-alcohol* movement starting to emerge. At least in the people and places I pay attention to. Hearing “nah, I’m not drinking tonight” seems way more common than it once used to.  Even more surprising to see this happen with my coworkers. It’s always been taboo (dare I say, career-limiting) to not have a couple drinks at happy hour. Don't get me wrong, I’m thrilled to see that people are waking up to the effects of alcohol. But, I’m also curious why it seems to be happening all at once. Before you jump down my throat asking for the data, here are a few disclaimers:  Could me citing this study about how Gen Z consumes 20% less alcohol than Millennials be a strawman? Yep. Could it be because I’m a late-20s millennial living near woke NYC? Also yes.  Could it just be me projecting my own changing world view onto the world? Sure. I don’t have enough significant data to back up my argument yet. Most of it is anecdotal. We need more time to see how this plays out.  But I do have a theory if you’ll play along… Living in the digital age has given us access to information at our fingertips 24/7. Clips of Paleo Paul preaching about the dangers of bread, sugar, and alcohol are imprinted in our heads.  Then, the pandemic comes around and shuts off all social triggers to drink for over a year. These two factors combined created the perfect recipe for breaking up with booze. All that time alone might just be why sober socializing is becoming so popular. Sober Socializing. Like that one? Could more information actually have been a good thing? Over the past decade, search volumes for “mindfulness” and “fruit bowls” have trended upwards. (Simple heuristic – how many restaurants near you offer green smoothies?) It’s not a long-shot to say that the average American is more aware of her health today than 40 years ago. I’d like to think this has something to do with information availability. The Whoop is a wearable device that tracks your sleep, heart rate, and recovery. The technology is only getting better. In the future, we'll know more about our body metrics than ever before.  I bet you'd be less likely to drink after seeing a whopping 4% recovery on your Whoop. Thanks for listening to The Principle Podcast. Subscribe to get more gems in your inbox. I’m not denying the social benefits to alcohol. I still believe alcohol can bring strangers together, and make a night out twice as fun. Will I still indulge on occasion? Absolutely.  Will I ever crack open a “cold one” to watch Sunday Night Football? Absolutely not.  Information about the negative effects of drinking changed my world. It made me wonder what other blind spots could be hiding in plain sight. The Food Pyramid in elementary school told us to eat more white bread than raw veggies. It was endorsed by the USDA, so it had to be the healthy way to eat, right? Wrong. Could the glass-of-red-wine-with-dinner advice be the modern day equivalent of the Food Pyramid? Time will tell. We’re going to see more sober socializing in the future. So, don’t be shocked when your friend turns down that poolside High Noon, and grabs a Spindrift instead. Image courtesy of DALL•E. I asked for: “cheers a glass of beer in one hand and a glass of lemonade in another hand.” Not bad, huh? Check it out if you haven’t already. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit theprinciplepodcast.substack.com

    5 min

  6. 10/30/2022

    Examining your life with Khe Hy

    “The unexamined life is not worth living.” —Socrates. Today’s conversation exposes the importance of developing self-awareness with Khe Hy, the founder of RadReads. RadReads is an online community that teaches people how to live productive, examined, and joyful lives. It’s been featured in the likes of TIME Magazine, Bloomberg, and WSJ. Throughout the episode, Khe drops wisdom about the questions we should all be asking ourselves. I call these “questions that will change your life.” Expect to learn why introspection is the key to fulfillment, how independent thinking & self-awareness go hand-in-hand, how to conquer productivity guilt once and for all, and much more. For more on maximizing your productivity, check out Khe’s principles for doing $10k Work. Enjoy! Timestamps: (0:23): Who is Khe Hy? What is RadReads? (2:46): Uncomfortable introspection. (12:07): The questions that will change your life. (20:00): How being outcome-oriented can lead to blind spots. (26:43): Thinking for yourself. (33:23): Conquering productivity guilt. (38:25): Routines & fragility. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit theprinciplepodcast.substack.com

    45 min

  7. 10/23/2022

    Are you a pencil pusher?

    "You take the blue pill... the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill... you stay in Wonderland, and I show you how deep the rabbit hole goes." —Morpheus, The Matrix (1999) If you’re a blue pill-er, looking to continue about your day in peace, I suggest you turn this episode off. Come back next week. If you’re still here, I’ll assume you want to know the truth. A truth so uncomfortable that we don’t want to believe it’s true. This reality challenges the beliefs we’ve held so closely all our lives. It uproots the very fabric of lies that our society is built on. Here are the hard, cold facts: → It’s no longer enough to get paid a nice salary for 40 years. The modern economy has made your work a modern commodity. If you’re not essential, you can, and will, be replaced. → You MUST work with a purpose and towards an end goal, or face getting left behind. Most people haven’t woken up to why this is important. There are two reasons to avoid replaceable jobs at all costs: Globalization & AI. Globalization If there’s anything the pandemic proved, it’s that people don’t need to be in an office to work hard. In fact, not wasting so much time commuting proved that people will spend more time working. Here’s an astounding stat – Americans are saving 60 million hours that would have been spent commuting. I can almost taste the productivity.  If your company was smart, they likely downsized their office footprint, or got rid of it. This begs the question, “if I don’t need office space in Manhattan, why do my employees need to be in NY? Or in the US, for that matter?” There are loads of talented engineers, designers, and consultants all over the world. And, adjusted for cost of living, many won’t ask for six-figure salaries to do the same jobs. By 2030, a billion Indians will have access to the internet. This means that the majority of English speakers online will be from India (h/t Balaji). If you don't have a US HQ, why not hire your next engineering lead from India? Feel free to share this stat with a friend. If you’re not highly skilled at something that is directly value-creating, you’re a commodity. And all commodity goods compete on price. Is that a position you want to be in? Automation → Artificial Intelligence I’m not talking about Artificial General Intelligence, like the robot that gave Will Smith a taste of his own medicine in iRobot. If that happens, we’re all screwed. I’m referring to the menial, mundane tasks that will be automated very soon. Why pay an employee $70,000 per year to do mindless data entry work when a robot can do it for a fraction of the cost? My favorite example of this comes from my last corporate job. “Hey Arj, could you take a look at these 30 apartments and list out the physical specs of each?” I thought, “oh, you want me to waste 5 hours manually writing specs down, when a script could do it in a fraction of the time?” It was at this exact moment that I knew it was time to go. Moore’s Law states that chip density doubles every two years. In non-Geek speak, this means that the pace of innovation speeds up every year.  Look around you. Automation is already here. We’re leaping towards exciting breakthroughs in AI. Have you seen this video of Dall•E? Instead of trying to fight it, figure out how you can leverage the power of AI. Is there a creative passion of yours that you can amplify through the use of technology? The problem with pencil-pushing jobs is that they will keep you busy. You will have enough work to feel tired at the end of your workweek. The guise of productivity. But it’s a sham. Here’s my framework for identifying whether a job is worth pursuing: * Is it revenue producing? * Does it create value for the company? * Is it important for humankind? Is it revenue producing? In a big company, it’s not always easy to see the impact on your work. A good rule of thumb is to ask yourself, “will doing this task generate money for the company?” Are you cold-calling to find potential customers for a medical device startup? Are you analyzing properties for a real estate investment company to buy? These types of jobs produce revenue for a company. Revenue producing → important job function → job security → happy you. Does it create value for the company? Now, not all valuable jobs must be revenue producing. Are you designing a new marketing campaign from scratch? This campaign won’t produce tangible dollars on day one, but over time, it may have an impact on the value of the company. It could turn into an intangible asset. If you’re in a job search, try to put the positions you’re looking at through point number two of this framework. It’ll make you more skilled, it'll make sure you’re not wasting your precious time in a meaningless job. To put it simply, if a job requires zero creativity, leave it. Is it important for humankind? The third part of the framework could be a separate episode; I’ll keep it short. David Graeber illustrates this point beautifully in On the Phenomenon of B******t Jobs: “Say what you like about nurses, garbage collectors, or mechanics, it’s obvious that were they to vanish in a puff of smoke, the results would be immediate and catastrophic. It’s not entirely clear how humanity would suffer were all private equity CEOs, lobbyists, PR researchers, actuaries, telemarketers, bailiffs or legal consultants to similarly vanish. (Many suspect it might markedly improve.)” I find it hard to disagree with Graeber’s point. It’s obvious that schoolteachers have a profound impact on the future of our world. They spend 8 hours each day molding the minds of our future innovators. Many find meaning in doing work that benefits society in some way. It’s far easier to care about your job when you’re teaching kids, saving lives, or fixing cars. The paradigm has shifted dramatically, and it’s not in our favor. If you are going to work a corporate job (there are PLENTY of benefits to doing so), I want you to be strategic about it. Too many of us get caught up in thinking: “this job pays $150,000. That’s awesome!” It’s no longer enough to stop your critical thinking there. Your skills should mean something in the open market. Think, is my role mission-critical? If I disappeared tomorrow, would it have a meaningful impact on the company’s performance?  More importantly, would it have a meaningful impact on the world? Don’t be a pencil-pusher. Thanks for listening to The Principle Podcast! Subscribe for free for more content like this. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit theprinciplepodcast.substack.com

    8 min

  8. 10/16/2022

    Why I’m so damn indecisive

    You’re about to read something different from anything I’ve ever written.  My writing is a contemplation about one specific idea. It’s my space to think openly, without constraints. Today, I’ll be vulnerable. Sharing something personal about myself, instead of philosophizing on a topic. Among my friends, I’m known for being indecisive about the little things.  Deciding whether to go to an event, or where to grab dinner. I can never seem to make a decision and follow through with it on the day of the activity. “Arj, why are you so indecisive?“ Resolving my indecisiveness is a work in progress. For anyone else plagued by it, you know it’s not as simple as flipping a switch from on to off. I can assure you it comes from a good place. Let me explain. See, we live in an era of abundance, not scarcity. The inability to make a decision stems from the abundance of good options: Should I freelance, or work for a remote-first company? Should I read The Network State, or The Boron Letters? Do I want a teriyaki chicken bowl from China Café, or a spicy shawarma from Mamoun’s Falafel? Each selection can lead to a favorable outcome. Money, fulfillment, a full stomach. It’s not enough to compare each option directly with the next. Perhaps I could introduce randomness into decision-making? Next time I’m figuring out where to DoorDash from, let Siri flip a coin to decide. And while that works for something stupid like dinner, I’d rather not leave the direction of my career up to chance. You want to be in the driver’s seat of your life. You want to make the optimal decision to put yourself in the absolute best position possible. The problem is – sometimes, it’s not even possible to know what the best option is. Teriyaki chicken and a spicy shawarma sound equally satisfying right now. See the dilemma?! The only way to decipher between your options is to have an unwavering idea of what you value in life. * What is your long-term goal? * What do you not care for, at all? Literally sit down with a pen and paper and make a list. “Begin with the end in mind.” —Stephen Covey The 7 Habits of Highly Effective People (Fun fact. I never read that book. But, I think he’s got a point.) Things I care about: * Health * Wealth * Independent Thinking * Genuine friendship * Self-reliance * Responsibility * Discipline Things I don’t care about: * Status games * Politics * Keeping up appearances * Leaving my future up to somebody else * Living for the camera This list is a sample. I’ll iterate on it over time. But it’s already helping. For example, I shouldn’t go work for someone who can fire me on a whim. I should spend the hours and effort to learn to program and become a better writer. Programming will allow me to rely on myself, and writing enables me to think for myself. Spending my time and energy elsewhere is wasteful, if that’s the direction I want to go in. No one can tell you what your values are. You must define them yourself. I want to build a happy, fulfilled life, and I bet you do too. Save your list of priorities in a Word doc on your Desktop, and read them every week. Better yet, write them down in a notebook.  Remind yourself of these values by looking back at them every couple months. Revisit these priorities, just like you do with your annual comp. review at work. Once you realize YOU are the manager, you’ll take it seriously. Turn your gaze inward. Indecisiveness comes from losing touch with what you want. You lose touch with what you want by placing others on a pedestal. Do you not trust yourself? Thanks for listening to The Principle Podcast. Share this episode with an indecisive friend! This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit theprinciplepodcast.substack.com

    4 min
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