Capitalism is about adventurers who get harmed by their mistakes, not people who harm others with their mistakes.

Never ask anyone for their opinion, forecast, or recommendation. Just ask them what they have—or don’t have—in their portfolio.

The more data we have, the more likely we are to drown in it.

There are systems that use failure as fuel for improvement, where the cost of failure is small.

There are secrets to our world that only practice can reveal, and no opinion or analysis will ever capture in full.

In poor countries, officials receive explicit bribes; in D.C. they get the sophisticated, implicit, unspoken promise to work for large corporations

Charm is the ability to insult people without offending them; nerdiness the reverse