All posts by Solomon

Wise Fortune Cookie Says

Life Advice
  • The road before you is long, drive safely.
  • Genius does what it must, and talent does what it can.
  • One attachment: The tighter you squeeze, the less you have.
  • Be as willing to take advice as to give it.
  • Be careful and systematic in your business arrangements.
  • Attention is the mother of memory.
  • A wise man knows everything. A shrewd one, knows everybody.
  • Action is the basis of success.
  • Every wise man started out by asking many questions
  • Always remember where you are going and never forget where you’ve been.

To find out when more Life Education Curriculum is released, subscribe on the side! Follow on Twitter, on Facebook, on Google+, on Tumblr.  Please share your comments to this post below.

 

Friends as an Asset Class – An Investor’s Take on Friendship

Friendships, Rich vs. Poor Series

The purpose of this post is to highlight the huge impact social skills can have on wealth inequality by showing how much wealth is gained when you have the skills to make and maintain friends, and how much is lost when you don’t have social skills.

For this exercise, we forget the humanity of friendship and instead focus only on the financial aspects.  In that sense, friendship can be modeled as a subscription model business with an initiation fee.

Invest: Money, Time, Thought, Emotion, Options, and Opportunities

Return on Investment: access to resources, social and career network, all at extremely discounted prices.  Asking a friend for help is cheaper than paying a professional full price for help.  Meeting someone you have mutual friends with costs less resources than meeting a stranger.

Also, your wealth now increases indirectly through your friends: if each friend earns 10k per year and you have 10 friends, then your network is earning 100k per year.  If your friends gain skills, you indirectly gain them too: you now have easy access to expert skills at a discounted price.  You are encouraged to help each other because you all benefit together as friends.

This is in contrast to a life without friends, where everything is full price, and you have no incentive to help others because it won’t benefit you, it will just raise the competition and the prices on you, making your life more difficult.

To find out when more Life Education Curriculum is released, subscribe on the side! Follow on Twitter, on Facebook, on Google+, on Tumblr.  Please share your comments to this post below.

Developmental Psychology Notes

Thoughts On Life

Raising a Moral Child (NYTimes)

  • On dealing with good behavior: Praising character is more effective than action (you’re a generous person vs what you did was generous) at convincing children to continue doing a behavior age 8, presumably because that’s when a child is forming a strong sense of identity.  However, at age 10, both forms of praise are equally effective.  At age 5, the praise went unnoticed, presumably because they were too young.
  • On dealing with bad behavior: Shame is the feeling that I am a bad person, guilt is the feeling that I did something wrong. In an experiment, children were tricked into breaking a doll, and it is believed that those who avoided the researcher felt shame, while those who tried to fix it and apologized to the reacher felt guilt.  According to this study’s definitions, guilt should be taught, not shame.

To find out when more Life Education Curriculum is released, subscribe on the side! Follow on Twitter, on Facebook, on Google+, on Tumblr.  Please share your comments to this post below.