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A batch of the best highlights from what roger's read, .
Auto manufacturers trade for less than sales because they make ~3% net margins and earn that same ~3% on capital and revenues grow at ~3%. We can call the industry 3x3x3 (new material here folks). The car business is a bad business, and that’s what Tesla is trying to disrupt? 44/
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@ChrisBloomstran on Twitter
I felt so fortunate that I had been able to find a group of people who thought of what could be instead of being stuck on what was. That’s where progress came from, imagining the possibilities.
Swimming to Antarctica
Lynne Cox
“The major point of shadow theory,” Amos wrote to himself, “is that the context of alternatives or the possibility set determines our expectations, our interpretations, our recollection and our attribution of reality, as well as the affective states which it induces.” Toward the end of his thinking on the subject, he summed up a lot in a single sentence: “Reality is a cloud of possibility, not a point.”
The Undoing Project
Michael Lewis
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