My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Risk Tolerance Through Backwards Mobility Comfort
The key differentiator between different levels of business success is how comfortable someone is with losing their current status and having to rebuild from a lower position.
Decision Rule
When evaluating opportunities or people, assess their genuine comfort level with potentially losing current status/wealth and starting over, as this predicts risk tolerance and long-term success.
How It Works
People who romanticize or accept the possibility of going backwards (losing money, status, reputation) can take bigger risks because the downside doesn't psychologically paralyze them. This creates asymmetric opportunity access.
Failure Modes
Assuming someone is risk-tolerant based on their current success rather than testing their backwards mobility comfort
Mistaking recklessness for healthy risk tolerance
Not distinguishing between intellectual acceptance and emotional comfort with loss
Using this as the only filter without considering execution capability
Example Decision
“Two potential business partners both have $10M net worth. Partner A constantly talks about protecting their lifestyle and avoiding any risk that could impact their current status. Partner B mentions being comfortable returning to a small apartment if a venture fails. Choose Partner B for high-risk, high-reward ventures.”