Welcome to the official Twitter account for Flowwealth, a private investment firm. Building portfolios and sharing stories of our entrepreneurship journey.
As data become more essential than ever, it’s time to consider a bold question: What if the private sector became not only a user of data, but also its investor, builder, and partner? https://t.co/crkHHreCLW # via @worldbank
Through most of history, without the existence of countries with borders, collections of people with common interests (i.e., tribes) fought to seize wealth from other tribes or defend their own. As those who won got richer and more civilized, they typically got more decadent and weaker and were eventually taken down by stronger barbarians, who were in turn brought down by subsequent generations learning to be stronger. For example, that is the story of the rise of the Roman Empire and its defeat by the Gauls as well as the rises and falls of most dynasties, and with them, the rises and declines of leadership approaches. These alternating ages of barbarianism and civility contributed to periods of war that took down the more advanced civilizations when the barbarians were strong and civilizations were weak.
For a picture of where we are headed and what we should do, you can pre-order my new book, How Countries Go Broke: The Big Cycle, here: https://t.co/Dhz3HKVMfx
#howcountriesgobroke #principles
Think of every decision as a bet with a probability and a reward for being right and a probability and a penalty for being wrong. Normally a winning decision is one with a positive expected value, meaning that the reward times its probability of occurring is greater than the penalty times its probability of occurring, with the best decision being the one with the highest expected value.
#principleoftheday
Having open-minded conversations with believable people who disagree with you is the quickest way to get an education and to increase your probability of being right.
#principleoftheday
I recently released my Great Powers Index: 2024 report, which shows how each of the 24 leading countries are doing in most dimensions and their prospects for the next ten years.
“Freedom is a whole, is a whole skill to itself. A whole world, a whole universe to itself. Me love it because you have to be skillful to play it.“ #BobMarley#FootballIsFreedom
🎨 by IG [@]lilstupizstudio
#bobmarleyart
Sketch out the plan broadly at first (e.g., "hire great people") and then refine it. You should go from the big picture and drill down to specific tasks and estimated time lines (e.g., "In the next two weeks, choose the headhunters who will find those great people"). The real-world issues of costs, time, and personnel will undoubtedly surface as you do this, and that will lead you to further refine your design until all the gears in the machine are meshing smoothly.
#principleoftheday
Principle of the day by @RayDalio
Practice higher-level thinking by looking down on your machine and thinking about how it can be changed to produce better outcomes.
People lie more than most people imagine. I learned that by being in the position of being responsible for everyone in the company. While you might have an exceptionally ethical group of people, in all organizations there are dishonest people who have to be dealt with in practical ways. For example, don't believe most people who are caught being dishonest when they say that they've seen the light and will never do it again because chances are they will. Dishonest people are dangerous, so keeping them around isn't smart.
At the same time, let's be practical. If I tried to limit my relationships to people who never lied, I'd have nobody to work with. While I have extremely high standards when it comes to integrity, I don't view it in a black-white, one-strike-and-you're-out way. I look at the severity, the circumstances, and the patterns to try to understand whether I am dealing with a person who is a habitual liar and will lie to me again, or with a person who is fundamentally honest yet imperfect. I consider the significance of the dishonesty itself (Was the person stealing a piece of cake or were they committing a felony?) as well as the nature of our existing relationship (Is it my spouse telling the lie, a casual acquaintance, or an employee?). Treating such cases differently is appropriate because a basic law of justice is that the punishment should fit the crime. #principleoftheday