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Sunday Briefing: On hassle, the Chinese e-commerce giant Shein, and investor taxes

Sunday Briefing: On hassle, the Chinese e-commerce giant Shein, and investor taxes

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Welcome to the Sunday Briefing newsletter where we share some of the interesting lessons in life, business, and investing that we’ve come across during the week.

Latest on Junto

Two notes were published on Junto during the week.

How to spot moral hazard. Moral hazard is present in more domains than you think. Learn the useful skill in life of spotting moral hazard by using three mental models.

How to calculate compound interest in your head. We always get surprised by the effect of compound interest because we simply don’t think about compounding enough. In this note, you’ll learn a little trick that allows you to think about compounding problems every single day, all in your head.

What we’ve been reading

The optimal amount of hassle.

If your tolerance is zero – if you are allergic to differences in opinion, personal incentives, emotions, inefficiencies, miscommunication and such – your odds of succeeding in anything that requires other people rounds to zero. You can’t function in the world, as Pressfield says. The other end of the spectrum – fully accepting every incidence of nonsense and hassle – is just as bad. The world will eat you alive.

A deep dive on Shein. I only knew this business because my life partner shops there from time to time. So when I saw this deep dive, I knew I had to devour it. Shein is the fastest-growing ecommerce company in the world which reportedly did close to $10 billion in revenue in 2020 grown at 100% for each of the past eight years. It’s fascinating because the majority of you haven’t even heard of this company.

Investor taxes and stock prices. Professor Damodaran on how Biden’s tax plan would affect the investor behavior of the richest. And some taxation history.

Quote of the week

Andrew Carnegie on concentration.

The way to become rich is to put all your eggs in one basket and then watch that basket.

A thought

Some people repeat the same day over and over all their lives. But if you’re a frequent problem solver, you can gain decades of one average person’s life experience in a single year or two.

Keep confronting difficult problems.

Have a great coming week,
Oliver Sung

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