In the words of Charlie Munger, investing requires a latticework of mental models. From the Farnam Street blog:
In a famous speech in the 1990s, Charlie Munger summed up the approach to practical wisdom through understanding mental models by saying: “Well, the first rule is that you can’t really know anything if you just remember isolated facts and try and bang ’em back. If the facts don’t hang together on a latticework of theory, you don’t have them in a usable form. You’ve got to have models in your head. And you’ve got to array your experience both vicarious and direct on this latticework of models."
From the wisdom of Charlie Munger–to “words of wisdom” from our Community Member Chris Mooney – who today preached to the community during the G&R call, dated December 3, 2020 about the need to be very careful. If you did not attend or were twiddling your thumbs during the meeting ( I space out like Walter Mitty all the time) Here’s a quick breakdown:
- Down 3 engineers on the Foundation side since our beloved Mariano left (adding 1 more engineer next week)
- We are definitely Bottleneck on our Technical Capabilities
- Need to revisit the priority on the MIP-6 collateral index
- Maker is a cornerstone of DeFi—would be harmful if we cut corners.
- At the rate DeFi is moving (oh and Rug Pulls per day) very concern
- Maker should be focus on being a solid protocol/backstop
- Maybe we should pump the breaks?
- Bound to make a mistake. So true IMO.
- We are building a rocket ship with a “community” (that was priceless @BrianMcMakerDAO), hence it’s a difficult thing to do
Here’s the Vid of the segment where Mooney drops some def lyrics–a.k.a. words from the wise:
What do we make of this? What do we do as a community? Do we listen to the wise, or run like the wind?
BTW–credit to @MakerMan for asking the tough uncomfortable questions. I guess now, it’s time to ask ourselves some tough questions…
EDIT: 4/12/2020 or 12/4 if you’re a Yankee—misunderstood: Down 3 engineers TY @lollike for the correction