Consider the cockroach: http://en.wikipedia.org/wiki/Cockroach The cockroach has been around for over 300 million years, and has outlasted countless other species. It’s secret? It’s nearly impossible to kill: “Cockroaches are among the hardiest insects. Some species are capable of remaining active for a month without food and are able to survive on limited resources, such as … Continue reading Are you a cockroach or a sabretooth?
My friend Ramit recently issued a challenge to fellow personal finance blogger Trent of The Simple Dollar after Trent called Ramit’s “Scrooge Strategy” short-sighted for arguing that small frugality tips are counter-productive because they require too much effort for too little gain: Over a period of 1 month, starting Monday, March 2nd, I say we … Continue reading When Frugality = Insanity
Fred Wilson has a good post up about why you should Always Treat Money Like It Is Your Own. Fred’s point is that using OPM (other people’s money) often has a corrosive effect on decision-making. As he writes: When you are writing a [personal] check every time you make an investment, it has a way … Continue reading Always Treat Money Like It Is Your Own (Part 2)
Whenever a boom comes around, I read articles about how it’s dangerous to be too cheap and too cautious. One saying I learned during the last boom was “You can’t save your way to prosperity.” Maybe. But as you start to hear the siren song of profligacy (last time, we called it “Get Big Fast”), … Continue reading In Praise of Capital Efficiency: How Being A Cheap Bastard Leads To Startup Success