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Circle of Competence Issue #71

QUOTE OF THE WEEK

“Truth - more precisely, an accurate understanding of reality - is the essential foundation for producing good outcomes.” - Ray Dalio

FOOD FOR THOUGHT

Letter to Learners #1 - Incentives, Focus, and Developing your Circle of Competence (Link)

This week, I did not want to highlight any articles because it was too tough. Each one is a long, well-written piece that contains great lessons in each domain. Instead, I wanted to post my very first Letter to Learners. Going forward, in addition to my weekly commentary, I hope to write less-frequent, long-form notes on broad themes that I am learning about that have been worthy of closer study.

In my first note, I discuss the importance of incentives in biasing behavior, the importance of focus in life and relationships, and a framework for developing your circle of competence. I would greatly appreciate any feedback!

WRITTEN WORD

TOP READ: Ray Dalio predicts there is a coming economic paradigm shift where hard assets and commodities will be a hedge against 'reflation' (Ray Dalio)

History of public SaaS company returns and valuations (Alex Clayton)

Shopify and the power of platforms (Stratechery)