Morrisss

Excess returns often come from uncertainty, while continuous trial and error is the process of turning uncertainty into certainty.

During the Spring and Autumn period, Ji Wenzi, a senior official of the State of Lu, always “thought three times before acting.” In fact, people in today’s society are increasingly lacking this ability. The spread of information is accelerating, and every day is filled with new inventions, new creations, new stories of overnight wealth, and new technological disruptions, gradually causing people to lose the ability to make independent judgments and mistakenly believe that the faster the world changes, the more quickly they themselves need to act.
But in reality, the world’s changes do not equa

According to research, people who frequently clean their hands while cooking tend to have sharper thinking than most people. In fact, what is truly worth discussing here is not why someone likes to clean while cooking, but how they handle unfinished tasks and manage the relationship between their current actions and future costs. This involves several principles: behavioral consistency, the ability to switch between tasks frequently, self-management, low tolerance for uncertainty or disorder, and the extension of value cognition. A person’s cognitive level does not depend on whether they can e

I built a product using ChatGPT's Codex, then invited Doubao, Gemini, Grok, and Claude to discuss it together:
Doubao said: Wow, this is amazing. This product is definitely the trend of the future. Once you start making money, don't forget me.
Gemini: This product is very good, and the documentation is also very well written. There will be demand for it in the future, and the market prospects should be quite good.
Grok: I read your documentation and tested it as well. It works, and the problem it solves is clearly defined. It seems pretty good.
Claude: I think your product still has some issue

Determined entrepreneurs need cognitive correction more than emotional validation.

What truly makes people suffer continuously is often not only the harm caused by reality, but also our resistance to it. Loss, failure, and betrayal are painful in themselves, while repeatedly dwelling on why they happened and why they cannot be changed only amplifies the pain. A sign of maturity is not how much pain one can endure, but being able to distinguish what can be changed from what must be accepted, and redirecting limited energy from fighting established facts toward creating new possibilities. Pain itself does not necessarily lead to growth; what truly enables growth is reunderstan

为什么中国人，喜欢迎合别人，把这个视作圆滑，但又对熟悉的人表现狰狞？这背后是一个很深刻的社会心理现象：对外讲人情，对内讲权力；对强者讲分寸，对弱者讲情绪；对陌生人保持体面，对亲近者却失去边界。其实，这不是中国人天生如此，而是制度和文化、权力结构和长期行为激励共同塑造的结果。一个人如何对待别人，往往不完全取决于他的道德水平，还取决于他所处的关系结构、冲突成本，以及对方是否有能力反制他。

Future competition will see transparency eliminate low-barrier profits from information arbitrage, not all information asymmetry. The focus is shifting from profiting from information gaps to competing on cognition, judgment, and the ability to create value consistently.

Cognition determines the upper limit of judgment, character determines the stability of behavior, systems determine the sustainability of action, while real-world feedback and long-term accumulation determine the final outcome.

你欣赏什么样的人，往往意味着你认同什么样的价值；而你愿意为什么付出代价，最终决定你会成为什么样的人。

Scarcity itself is not valuable; scarcity that is widely needed has pricing power.

自律不是压抑欲望，而是更高层次的欲望对低层次欲望的管理。

一个人对未来的判断，不仅取决于认知，更取决于所处的位置与环境。当规则稳定、信用可靠、风险可控时，时间可以通过持续投入形成复利；当规则多变、信用缺失、生存压力巨大时，未来收益难以兑现，获取当下回报反而更加理性。这就是时间贴现的现实逻辑：长期主义不是意志品质，而是有条件的理性选择。真正重要的，不只是学会延迟满足，而是降低生存风险、改善自身位置，让自己有能力等待未来，也让时间的投入有机会转化为资产。
来源于我的新书：《位置》

Why does wound healing seem to slow down as we age? Why does it feel like we can no longer sleep in, while young people seem to be the opposite? An important reason is that young people have more active stem cells, more effective growth factor signaling, a lower burden of cellular senescence, and better coordination between blood circulation and the immune system—in other words, the body has a more efficient self-repair system. So, the ways to regain this repair capacity are: first, restoring the body’s own repair mechanisms through scientific methods such as legally conducted stem cell transp

Someone asked me: What impact would the interview’s content regarding Q-Day and breakthroughs in AI mathematics have on BTC?
High risk: P2PK used by early miners in 2009–2010, other BTC with exposed public keys, and Taproot (bc1p) addresses. Once a sufficiently powerful quantum computer exists, Satoshi’s addresses could be the first attack targets.
Relatively safe: BTC using addresses such as P2PKH (starting with 1...) and P2WPKH (starting with bc1q...), where the corresponding public keys have never been exposed. However, once funds are transferred from these addresses, the public keys will b

The vast majority of people cannot make money. Their income comes entirely from heaven’s blessings.

The tokenization of equity and liquidity in Musk’s ecosystem is the final piece of the puzzle.