Steven

Oh, I would say my own book. No, I think a couple that were really important for me, you know, it's not bedtime reading, but a guy named Benjamin Graham wrote a book called The Intelligent Investor. He wrote it in the 1930s. So it is written in 1930s English, and he was a professor. So it's written, it's not quite a textbook, but it's not bedtime reading.

But there is more wisdom about investing in that book than any other book that's been written in the last 100 years. And even though he wrote it almost 100 years ago, 90% of it is timeless. He says certain things that are obviously dated, but there's more wisdom in there than anything else that's ever been written. That's why the book still sells a lot 90 years after it's been written.

But there is more wisdom about investing in that book than any other book that's been written in the last 100 years. And even though he wrote it almost 100 years ago, 90% of it is timeless. He says certain things that are obviously dated, but there's more wisdom in there than anything else that's ever been written. That's why the book still sells a lot 90 years after it's been written.

That was a big one. Learning about World War II and the Great Depression was very influential to me and many other people because both of those events, particularly World War II, saw the highest range of human emotions that I think has ever been documented. From the most agony and despair and torment to the most like elation and happiness that it's over.

That was a big one. Learning about World War II and the Great Depression was very influential to me and many other people because both of those events, particularly World War II, saw the highest range of human emotions that I think has ever been documented. From the most agony and despair and torment to the most like elation and happiness that it's over.

Like so many, the fullest range of human emotions were documented during that period from probably 1929 to 1945. Those 16 years, I think if you learn about what happened in the United States and all over the world, of course, you learn so much about humanity. Like when you study World War II, you're not really learning about military tactics, even though that's part of it.

Like so many, the fullest range of human emotions were documented during that period from probably 1929 to 1945. Those 16 years, I think if you learn about what happened in the United States and all over the world, of course, you learn so much about humanity. Like when you study World War II, you're not really learning about military tactics, even though that's part of it.

You're learning about the psychology of how people deal with uncertainty, dread, risk, doubt, fear. You can learn more about those topics during that 15-year period than anything else. Yeah.

You're learning about the psychology of how people deal with uncertainty, dread, risk, doubt, fear. You can learn more about those topics during that 15-year period than anything else. Yeah.

Because it's out in the middle of an open field, it's gorging on sunlight because there's no other trees shading it. It's just gorging on sunlight. Because it gorges on sunlight, it grows very, very fast. It can grow like 10 times faster than a tree that's covered in shade. So you might think that that's great. That's amazing. It's growing so quickly. If you're a farmer, you love that.

Because it's out in the middle of an open field, it's gorging on sunlight because there's no other trees shading it. It's just gorging on sunlight. Because it gorges on sunlight, it grows very, very fast. It can grow like 10 times faster than a tree that's covered in shade. So you might think that that's great. That's amazing. It's growing so quickly. If you're a farmer, you love that.

But when a tree grows that quickly, it never has a chance to grow dense. and hard. It never has a chance to grow a very established root structure. And so those trees, even though they grow very quickly, they die very quickly. They're very susceptible to rot because they never have a chance to grow hard. It's just kind of like mushy, soft wood inside.

But when a tree grows that quickly, it never has a chance to grow dense. and hard. It never has a chance to grow a very established root structure. And so those trees, even though they grow very quickly, they die very quickly. They're very susceptible to rot because they never have a chance to grow hard. It's just kind of like mushy, soft wood inside.

And if you see a lot of the lumber that is harvested these days and you compare it to lumber from like old growth forests, you might as well be looking at a completely different tree. A lot of the wood that we harvest today that was grown very quickly is soft and weak. compared to the old dense hardwood that they used to make. And I think that's a good analogy that like fast growth is fun.

And if you see a lot of the lumber that is harvested these days and you compare it to lumber from like old growth forests, you might as well be looking at a completely different tree. A lot of the wood that we harvest today that was grown very quickly is soft and weak. compared to the old dense hardwood that they used to make. And I think that's a good analogy that like fast growth is fun.

It's exciting, but there's always, it's like speed always comes at the expense of durability. Always. There's a theory in finance. It's kind of like a tongue in cheek theory that however fast you grow, that's the half-life for how quickly you can die. It's like the faster you grow, the quicker you can die as well. And you see that in nature. You see it with businesses as well.

It's exciting, but there's always, it's like speed always comes at the expense of durability. Always. There's a theory in finance. It's kind of like a tongue in cheek theory that however fast you grow, that's the half-life for how quickly you can die. It's like the faster you grow, the quicker you can die as well. And you see that in nature. You see it with businesses as well.

The hard thing is that if you're an entrepreneur, if you're the CEO or working at a company, there is nothing more thrilling and exciting and get you up in the morning than fast growth. You love it. You love every second of it, even if it's a danger.

The hard thing is that if you're an entrepreneur, if you're the CEO or working at a company, there is nothing more thrilling and exciting and get you up in the morning than fast growth. You love it. You love every second of it, even if it's a danger.

And the companies that can produce tons and tons of money, even like look at Apple, it was created in the 1970s, didn't really find its stride, so to speak, until the mid-2000s. And so it's like sometimes there's companies like Facebook, I guess, and OpenAI that found product market fit, found incredible success virtually overnight, the day that they were invented. Right.