The ability to destroy your ideas rapidly instead of slowly when the occasion is right is one of the most valuable things. You have to work hard on i… - Charlie Munger

There’s another type of person I compare to an example from biology: When a bee finds nectar, it comes back and does a little dance that tells the rest of the hive, as a matter of genetic programming, which direction to go and how far. So about 40 or 50 years ago, some clever scientist stuck the nectar straight up. Well, the nectar’s never straight up in the ordinary life of a bee. The nectar’s out. So the bee finds the nectar and returns to the hive. But it doesn’t have the genetic programming to do a dance that says straight up. So what does it do? Well, if it were like Jack Welch, it would just sit there. But what it actually does is to dance this incoherent dance that gums things up. A lot of people are like that bee. They attempt to answer a question like that. And that is a huge mistake. Nobody expects you to know everything about everything. I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge. To me, they’re like the bee dancing its incoherent dance. They’re just screwing up the hive.

And he will also suffer from the psychological defect caught by the proverb “To a man with a hammer, every problem looks like a nail.” The fifth helpful notion is that really big effects, lollapalooza effects, will often come only from large combinations of factors.

I didn't get to where I am by going after mediocre opportunities.