IPL Special Offer- up to 41% Off on Elearnmarkets Courses & Webinars. Use code AMIKKR & REGISTER NOW

The Joys of Compounding by Gautam Baid

Humility Is The Gateway To Attaining Wisdom

"The more successful you are at something, the more convinced you are that you are doing it correctly. The more confident you are that you are doing everything correctly, the less open to change.”Morgan Housel 

 

The less open you are to change, the more likely you are to trip in a world that is constantly changing. There are a million ways to get rich. But there is only one way to stay rich: humility, often to the point of paranoia.

 

The irony is that few things squash humility more than become wealthy in the first place. It's why the composition of Dow Jones companies changes so dramatically over time and why the Forbes list of billionaires has a 60 percent turnover every decade. But, of course, humility does not imply taking fewer risks. Sequoia Capital (Venture Capital Company) takes just as many risks today as it did 30 years ago.


But it has taken risks in new industries, with new approaches, and new partners, cognizant that what worked yesterday isn’t what will work tomorrow.

Did you like this unit?

Units 7/35