Is advice overrated? (1, #40)
On Avoiding Action — Estimated Read Time: 54 seconds.
Last week, I heard this startling claim from investor Jeremy Giffon:
The only honest thing you can say about advice is that there is no general advice. I think giving general advice is a complete charlatan move. It’s just terrible.
This, he says, is because giving general advice is creating broad rules from your own narrow experiences. Furthermore, all advice cancels out: you can always find a counter-example for any claim. And finally, advice-seeking is “fundamentally unserious.” He illustrates this last point with a humorous parable:
A 12-year-old asks Mozart, “How do I start writing symphonies?” Mozart says, essentially, “You’re too young.” The 12-year-old responds, “But you were writing symphonies when you were 12.” And Mozart says, “Well, I didn’t go around asking people how to write symphonies.”
Of course, all of this becomes a bit cyclical—do we listen to the advice of the guy advising us not to listen to advice?
I think (like most things) it’s a balance: getting multiple perspectives allows you to see trends, but personal experience is essential for deep understanding. So, while collecting more information is always tempting, sometimes we just need to get started.
How about you? Is there something you should be taking action on, instead of just reading about it?
Insight inspired by
on this episode of Invest Like the Best. And A.W. Simmons, Banks Benitez, and David Perell, who all (separately) recommended it. It really is that good.