There are four ways to support a price on something of value: (1) replacement cost, (2) market comparison, (3) discounted cash flow/net present value… - Josh Kaufman

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There are four ways to support a price on something of value: (1) replacement cost, (2) market comparison, (3) discounted cash flow/net present value, and (4) value comparison.

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A counterintuitive way to gain insight into a new skill is to contemplate disaster, not perfection. What if you did everything wrong? What if you got the worst possible outcome? This is a problem-solving technique called inversion, and it’s helpful in learning the essentials of almost anything. By studying the opposite of what you want, you can identify important elements that aren’t immediately obvious. Take white-water kayaking. What would I need to know if I wanted to be able to kayak in a large, fast-moving, rock-strewn river? Here’s the inversion: What would it look like if everything went wrong?

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