Lecture Notes: Asymmetric Life Principles

Introduction

Speaker shares a personal story from 20 years ago at a conference with an investor named Joe.
Initial fear due to a significant loss in investment (50%).
Key lesson: early investing beliefs were flawed—"don't lose money".

Traditional Rule:
- Rule 1: Don't lose money.
- Rule 2: Never forget Rule 1.
Realization: Focusing too much on avoiding losses limits potential gains.
Asymmetry in investing:
- Aim for maximum possible outcome against minimal risk.
- Example of stacking criteria for investments (great management, industry potential, etc.).

Principle 1: Do Hard Things
- Comfort does not equate to happiness.
- Growth often entails discomfort and pushing limits.
- Change is often preceded by discomfort or worse conditions.
Principle 2: Do Your Thing
- Choose paths that align with personal passions rather than external expectations.
- Importance of commitment to your own projects and goals.
Principle 3: Do It for Decades
- Consistency and long-term commitment yield the best results.
- Improvement compounds over time; the longer you commit, the better you become.
- Excitement and passion are crucial to sustaining long-term efforts.
Principle 4: Write Your Story
- Take active control over your narrative and goals.
- The story of success includes vision, aspiration, and willingness to adjust.
- Example from the speaker's experiences during the 2008 recession.

Fear is the primary obstacle to achieving an asymmetric life.
- Recognition that fear can disguise itself as practicality.
Call to action for graduates:
- "Now is the time to do hard things."
- "Choose something worth suffering for."
- "Release the fear and write your own story."
- Empowerment to live big and pursue passions.