Day 159 - Staying small in a portfolio of small bets https://golifelog.com/posts/staying-small-in-a-portfolio-of-small-bets-1623124512245
Bet on things that don’t require a significant investment
Not about payoff maximization but odds maximization
Something low expectation but reasonable chance of materializing
Small bets is likely to give small wins too (subjective
Keeping things small can be the long term approach (instead of just doing it on the way to finding a big winner), because what’s enjoyable at small scale doesn’t always stay that way when it scales.
Big winner might not remain a winner, so can be high risk too if it fails later
You can narrow the things you try if there’s too many small bets
Remember: the ultimate goal is to enable a lifestyle you envision.
Not about payoff maximization but odds maximization
Something low expectation but reasonable chance of materializing
Small bets is likely to give small wins too (subjective
Keeping things small can be the long term approach (instead of just doing it on the way to finding a big winner), because what’s enjoyable at small scale doesn’t always stay that way when it scales.
Big winner might not remain a winner, so can be high risk too if it fails later
You can narrow the things you try if there’s too many small bets
Remember: the ultimate goal is to enable a lifestyle you envision.