Tim Ferriss

It's like, okay, like, yeah, I can try to learn how to count cards, and I know you're not supposed to do that, but... Sort of like bringing down the house or the movie 21.

It's like, okay, like, you can try to, like, get better at it, and then you need to know when you have a hot hand.

You need to know when the deck is in the right place.

You need to know your statistics.

But you're not going to bet heavy on every hand.

You'll run out of bankroll.

So in the startup investing, it's just an existential imperative.

You have to say no to the most things.

So you have to have rules.

And what are those rules grounded in?

They're grounded in certain principles.

And then what are those grounded in?

They're grounded in certain beliefs.

And I'll give you an example of a belief.

And the one belief would be, there are plenty of opportunities.

You can wait for a fat pitch along the lines of Warren Buffett.

But if you've been taught and conditioned yourself to have this fear of missing out,

The game is lost.

It's lost at the belief level before you ever get to the principles, before you get to the strategy, before you get to the tactics.

So a lot of it is solved with fear setting.