I believe that understanding what is good is obtained by looking at the way the world works and figuring out how to operate in harmony with it to help it evolve.

People who confuse what they wish were true with what is really true create distorted pictures of reality that make it impossible for them to make the best choices.

The big question is: When will the term structure of interest rates change? That's the question to be worried about.

Don't worry about looking good - worry about achieving your goals.

For every mistake that you learn from you will save thousands of similar mistakes in the future, so if you treat mistakes as learning opportunities that yield rapid improvements you should be excited by them. But if you treat them as bad things, you will make yourself and others miserable, and you won't grow.

The meaningful work and the meaningful relationships are, to me, comparable rewards. I think being on a mission to do something great is great, and to be on that mission with people who you have really meaningful relationships with not only provides both types of rewards, but it's mutually supportive. Because you can have tough love, but there's also the love part of that in terms of the caring for each other, and when you have the caring you can be tougher on each other. Some people describe it as an intellectual Navy Seals.

Radical transparency is critical to having an idea meritocracy because it shows what's actually happening without spin and prevents people from maneuvering politically behind each others' backs. It brings problems and weaknesses to the surface and allows people to see how they are dealt with, so it's great for training people on how to deal with real problems.