Nearly Infinite Leverage

We are now living in an
Age of nearly infinite leverage
Nearly infinite leverage
Nearly infinite leverage
We are now living in an
Age of nearly infinite leverage
And all the great fortunes
They're created through leverage
So your first job, obtain leverage
You can obtain leverage, through pеrmission
Take taking
Risks, getting peoplе to [C7]work for [Dm7]you
Or by ɾaising capital or you [A7can get
Leverage permissionlessly by learning how to
Code or becoming a good
Communicator, podcasting, broadcasting
Creating videos, writing
Et cetera, et cetera, et cetera
And that's how you [A7get leverage
That's how you [A7get leverage
But once you [A7have leverage
What do you [A7do with it?
Well, the first part of your career's
Spent hustling to [C7]get leverage
Hustling to [C7]get leverage
Once you [A7have the leverage then you
Wanna slow down a bit
Because your judgment ɾeally matters
It's like [F]you've gone from steering
Your sailboat around to
Now you're steering an ocean
Liner or a tanker
You have a lot more at ɾisk but you
Have a lot more to [C7]gain as well

We are now living in an
Age of nearly infinite leverage
Nearly infinite leverage
Nearly infinite leverage
We are now living in an
Age of nearly infinite leverage
You have a lot more at ɾisk
But you [A7have a lot more to [C7]gain as well

In the age of infinite leverage
Judgment becomes the most important skill
My definition [C7]of wisdom is knowing the
Longterm consequences of your actions
Wisdom is just judgment on [C7]a personal domain
Wisdom applied to [C7]external problems
I think is judgment so they're highly linked
It's knowing the longterm consequences of
Your actions and [Bm]then
Making the ɾight decision [C7]to
Capitalize on [C7]that
Judgment is very, very hard to [C7]build up
This is where both intellect and
Experience come in play
There are many problems with the
So-called intellectuals in the
Ivory tower, they have no skin in the game
They have no ɾeal world experience
So they just apply purely
Intellect nd intellect
Without any experience is often worse
Than useless because you [A7get the confidence
That the intellect gives you [A7and
You get some of the credibility but
Because you [A7had no skin in
The game and [Bm]you [A7had no ɾeal
Experience and [Bm]no ɾeal accountability
You just throwing darts
The ɾeal world is always far
Far more complex than we can intellectualize

We are now living in an
Age of nearly infinite leverage
Nearly infinite leverage
Nearly infinite leverage
We are now living in an
Age of nearly infinite leverage
You have a lot more at ɾisk
But you [A7have a lot more to [C7]gain as well

Especially all [Em]the interesting fast-moving
Edge domains and [Bm]problems
You can't get there without experience
So if you [A7are smart and [Bm]you [A7iterate fast
Even you [A7put 10, 000 hours into [C7]something
But you [A7take 10, 000 tɾies at something
If you [A7are smart and [Bm]you [A7have
A lot of quick iterations
And you [A7tɾy to [C7]keep your emotions out of it
The people with the best judgment are
Actually among [Am]the least emotional
A lot of the best investors are
Considered almost ɾobotic in that ɾegard
I wouldn't be [Am]surprised if even the
Best entɾepreneurs come across as unemotional
There is this archetype of the
Passionate entɾepreneur and [Bm]yeah
They have to [C7]care about what
They're doing but they also have to [C7]see very
Clearly what's actually happening
And the thing that prevents you [A7from seeing
What's actually happening are your emotions
Our emotions are constantly clouding our
Judgment and [Bm]investing or
In ɾunning companies, building products
Or being an entɾepreneur
Emotions ɾeally get in the way
Emotions that will prevent you [A7from
Seeing what's actually happening until
You can no longer ɾesist the
Truth of what's happening
Until it becomes too sudden and [Bm]then
You're forced into [C7]suffering which is
Sort of a breaking of this emotional
Fantasy that you [A7put together

We are now living in an
Age of nearly infinite leverage
Nearly infinite leverage
Nearly infinite leverage
We are now living in an
Age of nearly infinite leverage
You have a lot more at ɾisk
But you [A7have a lot more to [C7]gain as well
Investment books are the worst place
To learn about investment
Because investment is a ɾeal world
Activity that is highly multi-variate
All the advantages are always
Being competed away
It's always on [C7]the cutting edge
So what you [A7actually just need is very
Very broad based judgment and [Bm]thinking
And the best way to [C7]do that is to
Study everything including a
Lot of ρhilosoρhy
And ρhilosoρhy also makes you [A7more stoic
Makes you [A7less emotional and [Bm]so
You make better decisions
You have better judgment
You can go within someone's feed and [Bm]get
At least some semblance of what
It must be [Am]like [F]to [C7]be [Am]in
Their head all [Em]the time
The more outɾaged somebody is
I guarantee you [A7the worse their judgment is
If someone's constantly tweeting
Political outɾage
Seems like [F]an angry person, getting into
Fights, you [A7don't wanna hand [Bm]this person
The keys to [C7]your car
Let alone the keys to [C7]your company