Capitalism rewards things that are both rare and valuable. If you want an average successful life, it doesn’t take much planning. Just stay out of trouble, go to school, and apply for jobs you might like. But if you want something extraordinary, you have two paths:
Become the best at one specific thing.
Become very good (top 25%) at least two or more things.
I always advise young people to become good public speakers and learn the art of rhetoric (top 25%). Anyone can do it with practice. If you add that talent to any other, suddenly you’re the boss of the people who have only one skill. Or get a degree in business on top of your engineering degree, law degree, medical degree, science degree, or whatever. Suddenly you’re in charge, or maybe you’re starting your own company using your combined knowledge. It sounds like generic advice, but you would be hard pressed to find any successful person who did not have about three skills in the top 25%.
Wednesday morning news drop
Canada releases plan for a 40 per cent cut in carbon emissions by 2030 Feds pledge to dramatically curb emissions in oil and gas and transportation sectors to reach 2030 targets (CBC)
5 truths about the stock market: Legendary stock picker Peter Lynch made a remarkably prescient market observation in 1994 (TKer)
Everyone Has Crypto FOMO, but Does It Belong in Your Portfolio? A growing array of investment options make it easier to put digital tokens alongside traditional investments. Here’s what to know. (New York Times)
Financial Advisers Aren’t Sold on Crypto Trading rules, volatility and risk are some of the reasons advisers are hesitant to recommend the digital assets (WSJ)
A Solar Microgrid Brought Power to a Remote Village, Then Darkness The network gave villagers in Indonesia consistent power for the first time — until international funding ran out. (Green)
Ukraine: What have been Russia’s military mistakes? Russia has one of the largest and most powerful armed forces in the world, but that has not been apparent in its initial invasion of Ukraine. Many military analysts in the West have been surprised by its performance on the battlefield so far, with one describing it as “dismal”. (BBC)
Putin Doesn’t Realize How Much Warfare Has Changed: The Russian president’s obsession with World War II is hindering his invasion of Ukraine. (The Atlantic)
The Making of Vladimir Putin Tracing Putin’s 22-year slide from statesman to tyrant. (New York Times)
Are the Oscars Over? Sinking ratings, shrinking movie stars, boring broadcasts, not to mention battles over its controversial new museum. And now a quota system that threatens to tear the Oscars apart. How the Academy Awards are struggling to get on with the show (LA Magazine)