The Line Between Finding Your Method and Letting Yourself Off the Hook

I listen to a lot of podcasts and read a lot of interviews and articles about the different habits and schedules of successful people.  Some get up at 4:00 AM, some get up at 11:00 AM.  Some work 16 hours in a day, some work two.  Some need people and energy around, some need solitude.  Every one of them is disciplined, but what they discipline themselves to do and how differs tremendously.

The more you learn about habits like this the more pressure you can feel.  I’ve had various phases in life where I felt guilty for not getting up earlier like so many people.  I’ve gotten up at 5 or 6 every day for sometimes long periods.  But honestly, it never helped me.  I feel physically ill early in the morning.  I used to dislike that about myself, but I realized it was only because I had this feeling that I should be more like successful people I know.  Yet none of those people got up early for its own sake.  They did because they found it to be the best schedule for them, given their own rhythm and flow.

It’s hard to shed guilt or pressure to implement the habits of other successful people.  It’s freeing to realize that you have your own methods that work for you, and they might look totally different.  That realization can also be a bit dangerous.  Am I sleeping in because that’s really the best way for me to optimize my day, or am I doing it because I’m lazy or lack the discipline to not drink too much the previous night?

It takes a lot of self-knowledge and self-honesty to find out what works for you and be honest about whether you’re really doing it.  The thing most successful people share in common is not the habits themselves, but how they arrived at them.  Constant seeking of new ideas and information.  Testing out ideas and practices you hear from others.  Being honest about which ones work and then sticking with them.  When you get slack, not pretending you slacked because it didn’t work.  Being honest about which ones don’t work at all and dropping them.

The line between putting unhealthy pressure on yourself based on a desire to imitate others and putting healthy pressure on yourself based on a desire to optimize your life can be a fine one.  Treat it like a game, laugh at yourself, and keep exploring until you find things that work.

The Infantilization of Everyone

Yesterday I saw an article by a teacher in the Bay Area asking NBA MVP Stephan Curry to not visit his school.  The teacher loves Steph’s team and Steph’s game and is happy for his success.  He just doesn’t want him to come visit the kids because he’s afraid the kids will think they can do what Curry has done.  The teacher pointed to Curry’s NBA father and other things he had growing up that helped him better train for a career in basketball than most of these kids will have access to.

The teacher’s concern is not unlike comments and complaints I see every time someone shares a post or article or piece of advice to young people.  Even seemingly simple things like, “Keep your expenses low so you can seize opportunities to do cool stuff even if it doesn’t pay”, or, “Try getting experience before deciding on a career path”, or, “Go after things you really love”,  are met with cries of, “That’s dangerous advice”, and, “Not everyone is privileged like you”, and, “You’re setting people up for failure because that advice doesn’t apply to every situation”.

My question to the teacher and the posers of these objections is the same: who are these people you are so concerned about?

Surely the teacher doesn’t think his students are too stupid to realize that Steph Curry has different physical characteristics than they do.  Surely his pupils aren’t so naive and ignorant of all aspects of the world to think that every person who wants to will be an NBA star.  Who among them will spend all of their time training only to have their life ruined when they discover too late that the Golden State Warriors won’t pay them to play?

And who is going to destroy their own life with no hope of recovery based on a Facebook post?  Who is going to assume every piece of advice they’ve ever heard applies to their every situation?

It’s incredibly demeaning to assume everyone but you is so dumb they must be protected from success stories or inspiration or advice because they’ll be unable to see differences between those giving it and their own lives.  It’s arrogant, unbecoming, and at worst the basis for paternalistic forms of social control.

Kids aren’t dumb.  Neither are poor people.  They know they’re almost certainly not going to be Michael Jordan or Beyoncé or Bill Gates.  Meeting and hearing from successful people – whether “privileged” or not – can be eye-opening, exciting, and challenging.  It can be fun.  Hearing their stories and tips and advice can be useful.

Coddling people and running around policing anyone who talks about their success or says, “You can do great stuff”, or keeping a privilege scorecard doesn’t help anyone.

Being inspired is not dangerous.  Being uninspired is.

Ask Isaac: Grab Bag – Optimism, Failure, Aging, and More

The second installment of “Ask Isaac”, where I respond to listener questions, covers a handful of questions posed on Facebook.  When is quitting smart and when should you push through?  Is aging a disease?  Can you be duped by your own optimism?

Feel free to send along questions of your own on Twitter, Facebook, or email and I’ll try to get to as many as I can on future episodes.  As always, this and all episodes are available on SoundCloud, iTunes, and Stitcher.

How Nike Supports the Arts

The Kobe Bryant ads featuring Kayne West, Jerry Rice, Richard Branson, Tony Robbins, and others are so amazingly good and have provided me with ridiculous entertainment value. It got me thinking…

I have been a consumer of Nike for years, but I can’t remember the last time I paid a dime for it. I’ve been a huge fan of and benefited greatly from their funny, entertaining, inspiring, and beautiful ads and marketing campaigns, but I haven’t brought a product in a long time. People often worry about the negative side effects of profit-seeking behavior, yet how many stop to ponder the positive side-effects? Marketing doesn’t just convey information about products to potential buyers, it provides free entertainment and art – sometimes truly top notch – to the rest of us and makes society so much richer.

Some of the greatest benefactors of the arts and entertainment are companies that produce something totally different to earn money.

Nike, you never fail to impress with your marketing savvy. Thanks for giving us this free gift!

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I’ve written about how marketing creates value here (one of my personal favorite posts of all time, FWIW), and how marketing is a form of voluntary redistribution from the wealthy to the poor.

The Secret Skill That Beats All the Rest

From the Praxis blog. 

I’m going to tell you a secret. There is a skill you can master which will guarantee everything you do will improve by at least 50%, but probably more like 100%, and more over time.

The best part about this skill is it’s easy. Anyone can obtain it. You don’t need to have any particular natural talent. You don’t need any resources or teachers to master it. Once you have it and it becomes a part of your every operation you will begin to achieve at an accelerating rate. Your success will compound and your reputation will bring you more opportunities.

In the words of Morpheus, “Do you want to know what it is?”

Getting sh*t done.

That’s it. Read it again. Let it sink in.

What does it look like in practice? Responding to emails immediately, and never taking longer than 24 hours to do so. Showing up for everything you’ve said you’d show up for. Finishing everything you’ve said you’d finish and on time. When you say, “I’ll read that book”, or, “I’ll check out that website”, or, “I’ll send my resume”, doing it. Immediately. If you can’t or won’t, don’t say those things. Every time you say you’ll do something and don’t you’ve missed an opportunity to be better than the majority of your peers and build social capital.

In 90% of situations I’d take someone with coherent same-day responses to all communications who always delivers as promised and when promised over someone with mastery over just about any skill I can think of. I’m not alone in this. The desperate need for hard working, reliable people who communicate immediately all the time is off the charts.

If you make people wait for responses or wonder if you’ll ever follow through you’ve cost them, even if only psychologically. People don’t tend to want to work with people who cost them, they want to work with people who they never have to expend any mental energy worrying about. They want to work with people who pleasantly surprise them by over-delivering.

Anyone can be the person who always follows through, always communicates, always delivers, and never leaves anyone hanging or in the dark. It’s only a matter of will and discipline.

Just get stuff done.

Your Lack of Income Can Be an Asset

From the Praxis blog.

Let’s say you want to do something awesome.  Maybe you’re interested in being a part of a startup or an entrepreneurial business.  Maybe you’ve got a creative side, and you’d jump at the chance to work on a movie script.  The less cushy your current life, the higher the chance you’ll be in a position to answer when opportunity knocks.  The lower the cost of exit, the easier exit becomes.

A lot of young people just starting out in their careers feel pressure to scratch and claw for a few thousand more in salary and keep up with friends who are moving into nicer houses, driving nicer cars, eating sushi every Tuesday, and shopping at trendy places.  There’s nothing wrong with any of these things, but if you have a stomach for more risk than the average person, and a desire to do some really cool stuff, you might want to resist the urge to upgrade your lifestyle.  Your relatively low income can be a huge asset.

Even the most frugal and self-controlled among us have a propensity to adopt a standard of living right up to our capacity (sometimes beyond).  It makes sense.  In fact, it’d be a little weird if you were raking in cash and sleeping on a park bench, just waiting for the opportunity to use your capital.  Living in the moment is fine.  The thing is, there are so many ways to happily do this.  I’ve found that, whatever the income level, once it’s above a certain very low baseline, you can organize a pretty happy life around it.  The higher it goes, the more you spend and it is damn-near impossible to go backwards.

I knew a guy once who had a great job, making more than any of his peers, but at a place that pressured employees to upgrade their cars, houses, etc.  He soon found himself in a lifestyle that only that well-paid job could sustain.  Then the job turned sour.  He wanted out.  But how to convince his wife, his kids, and himself to downgrade the car, the monthly budget, the mortgage?  Some of these things couldn’t be done at all on short notice.  His high income was not a source of freedom, but a chain, preventing him from doing what he wanted.

So you’re young and and your income is low.  That’s a huge advantage for you.  That means if your friend tells you she wants you to help launch a new business, but you might not get paid for the first six months, you can probably swing it, since you’re already accustomed to eating Ramen and you have no DirecTV to cancel.  Some of the best and brightest are incapable of jumping on great opportunities because they’ve earned decent money quickly, then hemmed themselves in, unable to ever downgrade their short term quality of life.  If you can, you have a competitive edge.

Obviously, no one wants to stay forever on a diet of canned chicken.  But when you’re young, and at the beginning of the discovery process of what makes you come alive, it’s helpful to be free from a huge list of material needs.  You’d be surprised how much an early high income can stall further progress towards your goals.

So if you think you’re poor compared to your friends, smile.  When you consider all your assets and liabilities – your skills, interests, strengths, weaknesses, capital, time, flexibility, etc. – include on the asset side of the ledger the fact that you don’t really need much money to maintain your current quality of life.  It may come in handy when the chance to do something amazing, and far more rewarding in the long term (materially and otherwise), emerges and you’re ready to jump while your buddies have to turn it down to stay with a job that pays for their $15 “happy hour” cocktails.

Episode 13: Albert Lu on Podcasting, Parenting, and the Patriots

Albert Lu, host of the Power & Market Report, joins me to talk about how he went from engineering to financial management to podcasting.  Albert is the one who convinced me to start a podcast, so the show is really his brainchild!  We also discuss parenting and the free-range education of children, and touch on his favorite NFL team the New England Patriots.

As always, this and all episodes can be found on SoundCloud, iTunes, and Stitcher.

Debt Can Limit Your Options (even when it’s ‘worth it’)

From the Praxis blog.

It’s hard to find a way to combine your career with your passion. It’s much harder if you need to make a lot of money to pay for your lifestyle, loans, etc. I know a number of people who make lots of money – enough to make that law degree a sound financial investment, for example – but hate what they do. The sound financial investment – trading debt for a ticket to a high paying job – turns out to have limited their options to only jobs that pay well enough to service the debt, and they ended up not liking those jobs.

In other words, the lower your wage requirements, the more flexibility you have early on to explore and test and find work you love. Keep that in mind with each step. Ask whether your present decisions are limiting your future options in a way you might regret.

I don’t mean to pick on law students with the above example, but that’s the one I see the most. People get a law degree because they’re smart, and they imagine a law degree as opening up a lot of career options. But after they graduate and have huge debts to pay, the number of jobs that cover it are limited. If you don’t enjoy corporate law, you might feel trapped.

It’s not just education debt that can limit you to jobs you don’t like.  I’ve also met a lot of people who feel stuck with a high paying job they hate because they bought an expensive house or car. If a nicer house and a less enjoyable job is a trade-off you’re happy with, by all means go for it! But it’s hard to undo once you jump in, so be cautious and thoughtful.

I talk a little more here about how low income can be an asset early in life.

Two Weeks on Soylent

I just completed my two week Soylent experiment.  I loved it!

For the past 15 days I had Soylent for breakfast and lunch, with the exception of one day each weekend.  It was fast, easy, filling, and I felt great.  I often skimp or skip breakfast altogether, and lunch is either a barrage of snacks, a frozen burrito, or $12 spent on Pho.  The former are too time-consuming with little payoff in the way of pleasure, and the latter is too expensive to do every day.

Soylent provides a great alternative, and far better than just protein shakes or other supplements.  It doesn’t supplement a meal, it is a meal.  I found that within minutes of drinking a 500 calorie serving, I was full.  And it lasted.  I would be full for 3-4 hours and not even think of food.  For lunch I sometimes needed more like a 600 calorie serving to last longer than 3 hours.

Every other morning I’d pour a 2000 calorie packet into the pitcher they provided free with my order, half full of water.  Seal, shake vigorously, add a bit more water, shake again, pour a glass, and put in the fridge.  Each container would give me two breakfasts and two lunches.  Many people say they wait until it’s chilled to drink it, but I don’t mind it at room temp.

The taste is vaguely nutty and slightly vanilla, but mostly just inoffensive bland cream with some sandy grit.  My wife hated it, my son didn’t like it at first but then liked it, and I honestly enjoy it quite a bit.  I did add a splash of almond milk a few times, which has a natural sweetness.  That definitely made it better, but again, I don’t mind it as is and never got sick of it as I have some flavored protein shakes.

I found in general that I feel slightly better than normal when doing Soylent for both meals.  Nothing amazing, but to just consistently have a decent sized breakfast and lunch helped me feel more energy, and it definitely reduced distraction.  I especially like that it doesn’t get your hands (and hence you laptop, phone, etc.) greasy or get crumbs all over the desk or floor.  I typically eat in the office, so this dramatically improved that experience.

It also made me like dinner more.  You notice taste, smell, and texture more and enjoy them more fully when you save them for the really good stuff that you have time to experience.  Filling up on chips during the day makes taco salad for dinner less exciting, etc.  Soylent is so basic and utilitarian that it allows you to really enjoy the full meal experience when you have time for it.

A few small annoyances include the fact that the pitcher they sent doesn’t always seal, so sometimes when shaking it some would spurt out.  The design of the packets also make it a little hard to get all the powdered contents out with some missing the pitcher, but that’s very minor.  The fact that you can’t keep it in the fridge more than a few days after it’s been mixed is also annoying, but they sent a scoop to make single servings too, so again, a minor inconvenience.

I’d still like to see the price come down.  At around $3/meal it’s not bad, but more than breakfast and some lunches might come out to if you buy largish quantities of lunch meat or frozen meals.

Oh, one final word: if you do Soylent you need to make sure to drink lots of water.  I tend to drink at least 10 full glasses a day anyway, but if you don’t, you’ll want to or you’ll feel a little odd, especially after the first meal or two while you’re adjusting.  I also found that adding more than the recommended amount of water per serving to the mix was not helpful, as it just made the texture less enjoyable and increased the volume you needed to consume.

I wish they were on the shelves of the grocery store, which would make it easier to work in to the grocery rotation.  Still, I plan to keep a supply around and use them somewhat regularly for breakfast and lunch during the week.  It’s great to have a fallback that gets the job done so nicely.

Ask Isaac: For-Profit vs. Nonprofit Enterprise

Albert Lu prompted me to try out a new feature for the podcast where I take questions from listeners and followers.  I’m testing out posting a short “Ask Isaac” episode every Friday in addition to the regular Monday episodes.  These are in the 10 minute range and may be a single question or quick hits on several.  I got some good questions to kick it off, and I thought it fitting to begin with a question posed by Albert himself:

For-profit or nonprofit enterprise…you’ve worked in both, what are the differences, which do you prefer, and why?

As always, you can get all episodes on SoundCloud, iTunes, and Stitcher.

It’s Not About Working for Free, It’s About Being Free

I recently posted about trying to be in a position where you could do awesome work with great people, even if for very low or no pay as it is more likely to lead to better results than doing work you don’t care as much for.

Many people said this was a luxury only the elite or wealthy could afford.  I couldn’t disagree more.  In fact, as I’ve written elsewhere, lack of income can be an asset.  We tend to live up to our earnings.  Those with a less costly lifestyle are more able to jump on opportunities that don’t pay well upfront.  The whole point of the post was that it’s good to be in a position where you are most free to seize on opportunities even if they don’t have an immediate paycheck.  Avoid or reduce debt, cut expenses, maintain a minimalist life, be productive so you can do more with less time, try to save some money, etc.

You may have to or want to work a job you don’t care for and earn money for 60 hours a week but that still doesn’t preclude you from going to that awesome local marketing firm you’re interested in and begging them to do 20 hours a week of work even if they can’t pay you.  I contend that the latter will be more beneficial to you long term than the former, and if you work hard and well might turn into more pay as well.

The post was not about working for free.  The post was about being free.  The freer you are to jump on great opportunities the better, and the more things that make that hard you can eliminate the better.

The Funny Thing About Common Sense

There are lots of funny things in prevailing narratives. Here’s one:

“If you can’t get hired, go work for free until you are worth being paid” = crazy

“If you can’t get hired, borrow $50,000 dollars and spend four years not working and hope it makes you worth being paid” = sound advice

If we placed an equal burden proof on the status quo as we do on alternatives to it, decisions might look a lot different.

Why Not Go Work for an Awesome Company Now?

Many people can’t get paid jobs because they lack experience.  Most will go pay a lot of money to buy a credential in hopes that it gets them access to the jobs, or take a different job.  You could also just see if you can do the job for free as a way to get access.  Apparently, this is a controversial suggestion.

Today I posted the following on Facebook:

Young people: if you have the choice:

Work with awesome people on interesting stuff for no pay

-or-

Work with average people on average stuff for a salary higher than most of your peers

Which would you take?

I suggest the former will pay off 5 or 10 tens more over the short term psychologically and over mid-long term financially as well.

Avoid anything that makes taking the former opportunity more difficult. (Debt, obligation, geographical restrictions, pressure from others, promises you wish you hadn’t made, etc.)

And this:

Imagine your favorite existing company or your dream startup idea. If someone there came to you and said, “We want you to work with us! We just can’t pay you right now.”

Could you do it? Would you?

If you’re 15-25, I’d say a major goal should be to be in a position where you can afford to say yes.

I was baffled by the number of comments and private messages I received from people who passionately disagreed or found these posts dangerous, ignorant, or offensive.  You never know what things will rile people up on the internet.  Didn’t expect this to be one of them!

No, the posts are not anti-work.  No, they are not anti-money or anti-capitalist.  No, they do not claim in any way that everyone should share the same time preference or risk tolerance.  No, they do not imply that working for free is morally or practically better than working for pay.

The posts are making a point about the particular position of young people early in their careers.  They spend tens of thousands of dollars and several years attempting to gain credentials they hope will grant them access to jobs they like and that can sustain them.  My question is, why not just go get that job now?  Work for free if it’s the only way.  Working for free at a great company is probably better than paying to not get paid at a university so that you can hopefully work for enough pay to cover your debt later.  It’s probably more likely to lead to more money and happiness in the long term.

Do it when you’re young and inexperienced your opportunity cost is low and your financial obligations are few.  Invest in yourself by trading pay for great experience if you can.  That’s what many people think they’re doing with school.  What’s different about working instead?  In many cases, it’s better.

But let’s say you’re out of school already.  I think the same question applies.  Ask yourself, if a great opportunity came your way that didn’t have a lot of money with it but it did have a lot of long term promise, would you and could you take it?  You don’t have to in order to be a good person.  It’s your life, not mine.  But if you wish you could but think you can’t because you have a lot of financial or other obligations, the point is to consider ways in which you can reduce those obligations.  Be in a position to take advantage of the best opportunities (measured on all fronts, not just by pay).  The golden handcuffs are real, and they can hurt.  I’ve written before how debt can limit your options, and how lack of income can be an asset.

If at an incredibly young age you already find yourself having to take a job you don’t like because nothing else will cover your expenses, you might try to find ways to reduce the obligations.  I’m not saying don’t work hard.  I’m not saying money doesn’t matter.  I’m not even taking a side on the follow your passion/don’t follow your passion debate.

I think people overestimate the long term value of money early in their career, and underestimate the long term value of time well spent early in their career.  The latter has greater returns.  I’ve talked to many stressed out new employees who are thinking about not taking a job they love because it pays $27,000, instead of the $31,000 they’re making at the job they can tolerate.  I’ve been there myself more than once.  The thing is, in a few years, and certainly in ten years, that extra money will mean little to you, as much as it feels like right now.  But your time and how well you spent it will mean even more, not to mention the network and skills you build along the way.  Odds are that not just in happiness, but in long-term financial rewards, you’ll do better going with the one that is more up your alley vs. a few thousand bucks.

I’ve never worked for free except on side projects and launching my own company.  I’ve never had an internship.  I’ve always been a paperboy or grocery clerk or golf course go-getter or construction worker or something else to earn money.  The sooner I was able to merge my interests with my income the happier I was.  That’s not for everyone.  But I can tell you many of the best decisions I’ve made were saying no to well paying jobs.  I could have been a pharmaceutical rep at age 19 and had a company car, benefits, and starting at $50-60k.  I couldn’t be happier that I picked a series of jobs with a higher ceiling and more in line with the kind of people I wanted to be around and the kind of stuff I really love doing.  That extra $25k in starting salary seemed like a million bucks at the time.  Now it seems like it would have been more than foolish to take it instead of the path I chose.  If you’re doing great work and working hard at it, the financial rewards will come.

I am not preaching dependence.  Far from it.  This is a message of independence.  Don’t just take internship after internship and live with mom and dad until you’re 40.  Heck no.  Don’t be dependent.  Be independent of as many things as possible – debt, promises, other people, and even a certain income level.  That’s the point.  Pick things that take advantage of your strengths even if the pay is low upfront because of what it can be down the road, and because of the fulfillment you’ll get.  Don’t get locked into an income level that your friends think is cool if it limits your options.

Get paid if you can and as much as you can.  But the idea that schooling is the only way to invest in yourself for greater future gains is absurd.  As is the idea that a better salary is always the best long-term payoff.  Why not give up income to gain human capital on the job?

If after all this you still don’t get my point or think I’m somehow against work, or money, or subjective value, or rainbows and hugs and everything lovely, this post is not for you anyway.  If it resonates with you as similar advice and thinking did with me many years ago, take it to heart.

Time and money are both valuable.  One of them you can create more of, the other you can’t.

The Opposite of the Crowd

More than one successful investor has advised to observe what everyone believes and do the opposite.  When people are optimistic, be a pessimist.  When people are pessimistic, be an optimist.  When confidence is high and prices are rising, sell.  When confidence is low and everyone is running for the hills, buy with confidence.

I was considering this advice and trying to decide what the current sentiment is.  Are people optimistic or pessimistic?  Are they buying or selling?  I can recall a few epochs in my life where it was very clear.  In the ’90’s everyone was elated about tech investments and day-trading was everywhere.  Then the bubble popped and things cooled down as people become cynical about software companies and the internet.  In the early-mid 2000’s optimism was everywhere again.  The Dow would only ever go up.  Houses were a can’t-lose proposition.  Everyone became a real-estate speculator with pride. After ’08 there was a period of pessimism, but it didn’t seem to last all that long.

For the last several years it’s hard to identify clear optimism or pessimism.  There are a few sectors – like Silicon Valley and the VC world – that seem to be flying high, but overall there is a lot of indecision and indifference.  If you were trying to do the opposite of the crowd right now, it’d be pretty hard to discern what to do.  Everyone is cautious and confused.

Rather than thinking only in terms of pessimism and optimism we can broaden our lens and possibly identify an answer.  To behave opposite an indecisive crowd is to be decisive.  Now is the time to be definite.  Now is not the time for waffling and over-analysis.  Identify an opportunity, develop a theory, and act on it with definite purpose.  In this environment the consequences of failure are not all that bad, and there is a huge competitive advantage to decisive action because hardly anyone is taking it.