The Full Reset

Metadata

• Author: Collab Fund
• Full Title: The Full Reset
• Category: #articles
• Summary: To understand the power of starting clean, you have to know the nuance of why the German military became as strong as it did in the 1930s.
  It starts at the end of World War I, when the defeated German army was stripped clean.
  Part of the Armistice that ended the war forced the dismantling of Germany’s military. This included virtually every weapon it owned. In the years after World War I the Allies undertook one of the largest industrial demolition campaigns in history. Six million rifles, 38 million projectiles, half a billion rounds of ammunition, 17 million grenades, 16,000 airplanes, 450 ships, and millions of tons of other war equipment was destroyed or stripped from Germany’s possession.
  But 20 years later, Germany had one of the largest and most sophisticated militaries in the world.
  It had the fastest tanks. The strongest air force. The most powerful artillery. The most sophisticated communication equipment, and the first missiles – all of which went on to inflict more suffering than the world had ever k...
• URL: https://collabfund.com/blog/the-full-reset/

Highlights

• There’s a set of advantages that come from being endowed with resources. There’s another set of advantages that come from starting from scratch. The latter can be sneakingly powerful (View Highlight)
  • Note: Lack of resources can be a sneaky advantage
• Things change and evolve, so the phrase “this is how we’ve always done it” should be replaced with “what do we need right now?” A full reset, unburdened by the past. (View Highlight)
  • Note: The constraints and context of the past don't apply now, and the past may not even be true.
• Michael Batnick once told the story of billionaire Stanley Druckenmiller, who was promoted to a senior executive in his second year at an investment firm:

  When he asked why he was promoted above the others around him … the reason he was given was because he didn’t yet carry the burden of experience … His boss said, “We around here have been in a bear market since 1968.’ This was 1978. ‘I think a big secular bull market’s coming. We’ve all got scars. We’re not going to be able to pull the trigger. So I need a young, inexperienced guy to go in there and lead the charge.” (View Highlight)

  • Note: Lack of experience can be a strength. Optimism and enthusiasm are powerful forces.
• you can never create something worth reading unless you are committed to the total destruction of everything that isn’t (View Highlight)
  • Note: Be ruthless in eliminating mediocrity. New branches flourish where dead ones are pruned.