I recently remarked that I’d like to have lunch with Patrick O’Shaughnessy. He’s endlessly curious, he’s interesting, and I think he’s probably a good person to his core. What’s more, he’s an expert on investing, so I think I’d have a lot of fun listening to him. The problem for me, though, is how to make that lunch meeting useful for him, such that I could turn it into a longer term, mutually rewarding relationship. I want more Patrick in my life, after all. And who wouldn’t?
So, I don’t know how to do that in this specific case, but it occurred to me that whatever I offered would have to be different from what he already has. And after that I got sidetracked by thinking about all the different ways you can apply that insight. You shouldn’t model your career after the exact same path that led others to where they are, that’s a recipe for frustration. And you shouldn’t start a business doing exactly the same thing that lots of other people are doing. You’ll likely have slow growth, slim margins, difficulty differentiating yourself, and a lot of stress, all of which is symptomatic of the fact that you aren’t really creating new value in the world. Think about the shitty business I described, where you’re competing in a mature market against established, profitable companies, run by people who have the resources and experience to crush you. And think not just about how you’ll survive, but how you’ll feel about that situation. Will you feel inspired? Impactful? Important? Fulfilled? I doubt it. And the reason for that is that you aren’t making a difference. Right? Like if this scenario were the movie, It’s A Wonderful Life, Clarence the Angel would show you the exact same world you left behind. It wouldn’t be uplifting, it would be depressing because there’s nothing worse for your sense of self-worth than feeling like you aren’t making a difference.
However, if you have something new and different, that can be valuable. And that process of innovation is what drives the economy forward. So go figure out how you can be different, and unique to yourself, and do that. Thanks