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Build Personal Moats

eriktorenberg.substack.com

81–84 of 84 posts

Re: Build Personal Moats

#81

Earlier quoted context omitted.

unless the thing you know everything about - like say FAX - is something that keeps expanding all the time, then once you know everything about it you should be able to structure your time to learn a fallback you can switch to if the necessity arises, which is basically what I did when my specialty was no longer in great demand.

I'm curious... tell me more about this. What specialty did you have? What did you switch to?

Well I was pretty good at XSL-T and XML related technologies, so that was at one point a good thing to be in to, at the time I leveraged that into doing standardization work on the Danish OIOXML project https://en.wikipedia.org/wiki/OIOXML where I wrote the schemas for the first versions of the Danish efaktura project (efaktura is format for invoices based on UBL that was required by law for all governmental invoicing) and did a bit of other standardization work.

Now at this point if I wasn't such an artistic punk type I would have gone off to private industry and worked in banking etc. as the Danish OIOXML / Efaktura specialist doing consulting work for a few years at a few hundred dollars an hour, instead I got enticed by a friend to go work at a company that I hated for the next couple years because we were going to build a media management product we had tried to do a few years before but this time to do it right!

After which there wasn't such a big oioxml efaktura thing anymore but I did still have XSL-T so I did that for several years at Thomson Reuters and then when downsized from there nobody used XSL-T anymore but I had during these years developed my backup search technologies and frontend skills.

The last 5 years I've been mainly frontend with some 3-4 months every few years doing search stuff.

Re: Build Personal Moats

#82
post #38

Earlier quoted context omitted.

> get financial freedom How? In The Netherlands, I don't know how to do this other than working in the HFT industry.

How big is the HFT industry in the Netherlands? Is this just something you can chose to do?

Last I checked (and that's a long time ago) they would pretty much hire anyone who could both code C++ and seemed able to learn finance.

And was willing to sell their soul, ofc.

Re: Build Personal Moats

#83
post #40

This concept is dangerously close to the antipattern of information hoarding and hero culture. Yes, from your personal perspective building such moat can be advantageous, but from the company perspective - or if you are a manager and see such behaviour, you should: - Document "Hard to learn and hard to do" processes. Make sure new hires can understand these processes easily. - Seek workarounds for "Impossible without…

If it can be done by a process, then document it and do it by process. It is not hero work. But don't underestimate hero work. Your local fire department does the kind of work that most people who subscribe to mundane management philosophies denigrate.

At about age 30, as a new junior employee at one of the worlds biggest companies, I got involved with hero work for more than a decade without originally planning to do that. You can't find too many people who are willing to crouch inside a quickly nailed together Farday cage for weeks and write software that detects unwanted EMI, find cache corruptions caused by unwanted isotopes in solder or write custom microcode for weird signal processing architectures. There is absolutely no information hoarding, because every real challenge occurs exactly once and needs to be solved the first time before it can be reduced to a repeatable process.

In between those assignments, I had a really tough time living through the attitudes of some of the anti-hero culture warriors. Eventually some of those mangers got together, tried to eliminate the culture all together and reform the former fire-fighters.

Who wants to work in an environment like that? Not anyone like me for sure. I found myself fired at age 40. The spoils of a decade of such work are good enough that I don't really need to work ever again. But I can't stop doing it - it changes you. Started a consulting company to help many others deal with problems that process oriented people can't solve. If you are young and so inclined, I highly recommend hero work as a career. It is rewarding mentally and financially.

Re: Build Personal Moats

#84

Earlier quoted context omitted.

This mindset is also the product of a privileged life. With some exceptions, you need an abundance mentality to be able to operate without dear of losing your daily source of income.

Not at all, I think, these two traits are orthogonal. I share this mindset without making much money at all (I'm a graduate student and an adjunct lecturer at a college). If you don't focus on your personal gain, but instead do something for the people around you, sharing your knowledge and skill, you also become valued and in some sense irreplaceable, without being protective about keeping your advantage. (Your moat…

Did you grow up in a household where your basic necessities were provided for? Did you have caring parents who you trusted were looking out for your best interests?

If you answered yes to either of those, you're not exactly who I'm talking about, even if you aren't affluent today. You've internalized that there is "enough" in this world for everybody to be happy, including yourself. It's a great mindset to have, and one that I share, but it's not one everybody is fortunate enough to inhabit.

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