Patrick O’Shaughnessy - Creating on Principle - [Invest Like the Best, EP.455]

The most resonant narratives, whether for a company or a person, contain three key elements. They follow an original, non-obvious path, overcome significant hardship, and result in a meaningful transformation for the protagonist or the customer. This framework can be used to craft powerful stories.

When hiring, focus on what a person has created, not their stated attributes or background. A great "invention" (a project, a piece of writing, code) is the strongest signal of a great "inventor." This shifts the focus from potential to proven output, as Charlie Munger advised.

For people truly engaged in their life's work, the ultimate reward isn't money, power, or fame. It's the privilege to continue doing the work they love at a higher level and on a larger scale. This mindset attracts the most passionate and mission-driven individuals.

Instead of complex leadership frameworks, the ultimate test is simple: do people willingly follow you? This quality is built on a foundation of hyper-communication, consistency, taking responsibility, and leading from the front. Ornate definitions are unnecessary; the proof is in the followership.

The best business opportunities often appear foolish to the majority at first. If an idea sounds good to everyone, it's likely a competitive space. Starting a print magazine in 2024 sounds dumb, but the underlying desire for high-quality, scarce content makes it a powerful, contrarian bet.

The most enduring and interesting creations are those that are an extension of the creator's personality, values, and identity. This alignment makes the work feel less like a job and more like self-expression, providing a source of "abiding joy" that doesn't deplete.

Intense self-reflection is critical for discovering your purpose and "organizing principle." However, once you've found that direction and are actively pursuing it, continued introspection can become a distraction. The tool has served its purpose and is no longer needed for the daily work of execution.

When asked "What is the kindest thing anyone has ever done for you?", two-thirds of respondents said it was someone who saw potential in them and took a chance on them before they had a track record of success. This act of early belief is deeply transformative and memorable.

An intense, "red on the color wheel" focus allows you to make things happen with incredible speed. However, the downside is that when your attention shifts, it can create whiplash and confusion for your team, who were galvanized around the previous idea. This requires self-awareness to manage.

Worldly proxies for success like money, power, and fame are finite and can be traps that lead to burnout. A more sustainable North Star is the feeling of "abiding joy"—a generative energy that increases the more you tap into it. This feeling signals you're on the right path.

Brett Victor's "Inventing on Principle" concept suggests defining a core principle to guide your life's work rather than setting rigid goals. This allows for flexibility and unexpected opportunities from the periphery, which are often the most significant breakthroughs and lead to a more exciting journey.

This three-part definition clarifies a vague concept. True "life's work" is not just a job; it's a long-term pursuit (lifelong quest), it's service-oriented (for others), and it's deeply authentic (expresses who you are). Few people achieve this, but it's a worthy aspiration.

Physical health is often a lagging indicator of mental and emotional well-being. Chronic health problems can persist despite rigorous diet and exercise but may resolve "magically" once you align your life with meaningful work and strong relationships. The mind and body are deeply connected.