“But, Money Can’t Buy Happiness!!!”

It’s interesting to note that the most precious things in life are intangible.  They don’t have a price, they aren’t things that you can hold in your hands and without them life would be pretty meaningless.

Love, family, relationships, purpose, happiness….All intangible.

But there is one thing in life which is intangible, but money can buy.


Time is impossible to put a price on.  Your time is precious, non-refundable and once you’ve spent your finite time on this Earth it’s gone forever.

Your time is worth fighting for.  Too many people aren’t close to their family and friends, have missed their children’s first steps and words due to not having the time – usually as they’ve tied their time to a 9-5 job.

And for what?

People stick to those 9-5 jobs so that one day they can buy a mediocre car, a mediocre house and receive a mediocre pension so that they can live the rest of their lives out doing what mediocre people do (reading the news, getting angry at politicians, complaining about why their life sucks).

Don’t fall for the “But, money can’t buy happiness*” argument, because no one is arguing for it.  But realise that you can buy one of the most precious things in your life: your time.

And it’s worth fighting for.  Your life is valuable and you can have it back if you create enough value for the world.

*When I first started to have the idea of starting a business when I was a junior doctor, I would always face the “But, money doesn’t buy happiness!” argument from other doctors when discussing my business ideas.  For some reason here in the UK, pseudo-socialist middle class doctors who are in the upper percentiles of income, don’t like the idea of one of their colleagues becoming even richer, as that would just be wrong and socially unjust…  To paraphrase Orwell:

“It’s not because they love the poor, it’s because they hate the rich”

It’s a knee jerk argument/reaction on their part, because they’re not willing to think things and do things which would make them uncomfortable.  It’s a form of laziness and shouldn’t be taken seriously.


Judging Babies

If someone goes up to a baby and says:

What could this thing ever achieve??!! Look at it, it’s so weak and helpless! It will never accomplish anything!”

Then you would probably call that person an idiot.

But when some know it all looks at a young entrepreneur or an early stage startup and says:

What could this tiny business ever accomplish?!! They’re all so young, naive and inexperienced!”.

Then most people accept the criticism and stop going after their dream.

We can’t measure human potential. We can’t measure the potential of a startup.

Don’t stop.

If You Keep Doing More Stuff, You Will End Up Poorer, Less Healthy And Less Smart


I would say that around two-thirds of the patients I see in my clinic every day have problems related to something that they are choosing to do.

Chest infections caused by smoking.

Back pain as a result of sitting down all day and even after work.

Diabetes due to poor diet.

I seem to be locked in an eternal battle with my patients. I am continually trying to get them to come off of unnecessary medications, stop taking part in harmful habits and to stop taking antibiotics for viral infections.

Patients on the other hand come to me to take yet another pill for their ailments, seek yet another additional action they can take part in so that they can continue taking part in harmful habits.

I have come to realise that we humans find it much harder to subtract something from our lives than to add something to our lives.

It is easier to take a pill for high blood pressure than to stop doing the activities which has caused the condition.

It is easier to inject yourself with insulin than to stop eating processed foods.

I find it ironic how we take medications, often to mask our problems, which in turn leads to more problems down the line. It is clear that if we were simply to stop doing the harmful activity in question, instead of adding something new into our lives then we would benefit a lot more in the long run.

This got me thinking….

I have noticed that subtracting things from your life more often than not, leads to much greater gains than adding more stuff to it.

This is the type of logic that doesn’t make sense in a class room, but is empirically true.  Say for example you were tasked with building a wall.  In a maths book if a team of three people worked hard for 12 hours a day, you would be able to calculate how quickly each portion of the wall could be built.  Therefore if twelve people were put to the same task who could work at the same rate, you wold expect this team of people to build the wall at four times the speed.

In reality, if you were put in a team with eleven other people, with all the arguments, the organisational problems, the egos etc, it is likely that the wall would take much longer to build.  (If the government were put in charge with building the wall, it is likely that the wall would never get built.  I am sure there would also, at some point be allegations that the wall can be considered discriminatory against blacks/women/immigrants/insert a poorly defined group of people here…..)

I’ve been thinking of three examples in particular which I want to write about.  These three examples have given me more mental energy, made me fitter and made me financially better off.  I’m sure that these principles and concepts can be applied to anyone’s life.

The News & Social Media

Over the last couple of months I’ve stopped reading and listening to the news.  I haven’t used any social media since 2012 when I got rid of my FaceBook account, so I thought I was being smart by only using the Internet for learning, business and keeping up to date with the news.

It’s been an odd sensation since I stopped reading the news. I used to wake up in the morning, grab my smart phone and flick through a bunch of new sites. During lunch time I would revisit these sites to see if anything else was going on. I’d probably check again in the evening time at some point as well.

In total, I wasn’t actually spending much time a day reading and consuming news, but it did strike me at some point that I was not learning or gaining anything by reading it. This particularly hit me when I asked myself the question; “If I read last weeks news today, would I have missed out on anything at all?”. It became pretty obvious to me that the news is largely garbage.  In this respect it’s very similar to social media; It’s designed to cause an emotional (negative) reaction, it’s designed to suck out time and attention from its readers and it’s designed to keep you coming back for more for a quick dopamine hit.

At first I didn’t notice much of a difference in my life.  However, after a couple of weeks I felt a massive difference in my mind.  I found that my mind just had to deal with less noise.  I could stay focused on things that really mattered to me for much longer and I had much deeper insights about my startup due to the extra mental clarity.  In particular, my mornings now just feel much more positive and better.  It’s nice to not be bombarded with scare stories and the worlds problems first thing in the morning.

I now go to check out new sites just once a week.  And when I do visit these sites, I have noticed that I only read a tiny fraction of the stories, as most of it really is just non-stories aimed at getting you to have a negative emotional reaction.

There really is a case to be made about stopping oneself from visiting web sites which are known to be damaging to overall well-being and which we all know distract you from doing what you really want to do with your life.

Really worth a watch if you don’t agree with what I’m saying, because it seems that the ex-president and a previous executive working at FaceBook both agree.

Losing Weight

Here’s an interesting one.  Why is it that when people think about getting fit and healthy they immediately think about exercise*?

Why is it that people think about exotic diets?  Avocado and poached eggs on rye bread anyone?  Or how about a gluten-free, vegan “cake”?  No thanks, I don’t like to eat sissy ass food.

I think that it comes back to adding more things to your life, because it’s easier and somehow it seems “more right” to do something new when an existing diet isn’t providing results.  However, the reality is that subtracting bad foods from your life is actually the easiest, best and the most realistic way of losing weight for the majority of people.

Food is such a personal thing.  I wouldn’t expect anyone to enjoy my diet as much as I do or stick to my diet.  The food we all enjoy is likely a combination of social, cultural personal influences.  And it’s silly to think that you can adopt a random persons diet, be able to stick to it and enjoy it for the rest of your life.

Alan Aragon is a well-respected nutritionist who has coached many superstar athletes, including people like Pete Sampras.  The first chapter in his excellent book was: “What if Everything You’ve Been Told Is True?”.  He was trying to point out that for the most part, we all know what healthy food is.  We all know that a chicken breast is healthier than a french fry.

Here’s how to subtract food from your diet.  Some of my patients with a clinical diagnosis of diabetes have managed to completely stop their medications due to this simple method.

  1. Make a list of foods you enjoy eating, that you currently eat.  It’s very likely that there are a ton of foods that you eat that you know are healthy and that you can eat more of.
  2. Eat more of these foods!
  3. Eat less or get rid of the foods you know are unhealthy.
  4. Keep the healthy foods stocked up and get rid of the unhealthy foods at home to make sure you’re not tempted to just have a quick bite of something unhealthy.
  5. Eat healthy foods for 80% of the time and enjoy bad foods for 20% of the time.  The easiest way to do this is to be looser with your diet for one or two meals over the weekend.
  6. Enjoy the weight loss!

One very easy way of knowing if a food is healthy is if it is a single ingredient food that you can point at and name what it is.  For example: “That’s a piece of fish, that’s a potato”.  If you can’t name the food in single ingredient terms then it’s likely not healthy / is calorific.  For example bread and pasta are made up of lots of ingredients – eggs, flour, milk etc.  When foods are processed like this, they become calorically dense and usually end up being pretty bad for you.  For example, two slices of bread is usually 300-400 calories, which is the same as eating 400 grams of boiled potatoes.  Meaning that you would struggle to eat enough boiled potatoes to put on weight.  Single ingredient foods by their very nature have a comparatively small amount of calories for the quantity you can eat!

Subtractive Business Ideas

It never ceases to amaze me how good business ideas all seem to be subtractive.  I have noticed that my own healthcare business is subtractive by its nature, which may go some way to explaining why it has so much traction in such a short period of time.

This is what I mean by subtractive businesses / technologies / services;  They make life simpler and easier than before.  They uncomplicate processes and procedures.

Let’s take Google.  What did people do before Google was around and people needed information?  The used to go all the way to the library and go through books trying to find that single piece of data that they were looking for.  Or they would go and have a look at their own books.  Google is subtractive in that it has massively subtracted the effort needed to find data and it has made it much simpler to find the information that we’re looking for.

Uber did the same thing.  At the click of a button a taxi will appear.  No more trying to find the number for the local taxi firm, no more trying to figure out what the address of your pick up location is, no more wondering how much longer you have to wait for your taxi and no more worrying about having cash on you to pay the taxi driver.

Amazon.  At the click of a button you can order most of the commodities that you used to have to make a trip to the store for.  At the press of a button your chosen item will appear at your house in a day.

When most people try to think of what the future will look like they start to think about flying cars, talking houses and electrified pants.  Most people take the same perspective when they try to come up with new business ideas.  They start to have ideas which are “additive” instead of “subtractive”.  The best business ideas always go more along the lines of “There is this problem, which I could solve in a better and easier way, which people will give me money for.”

If we look at the successful businesses throughout history and the businesses which are going to be big in the future they have been and will be subtractive in their nature.

*Unless you are an Olympic athlete or a marathon runner, going to the gym and working out really won’t burn many calories at all.  Any fit person will say something along the lines of “abs are made in the kitchen” or “80% of results are from diet”.

It’s All Good

Learn to say “good”no matter what and I guarantee your life will improve.

Your diet isn’t going as well as you hoped.

Good, it means you can lift heavier weights for longer.

The development of your app is going slower than you thought.

Good, it means you have longer to get it just right.

You failed that exam.

Good, it means you get to learn more.

People disrespect you.

Good, you have the opportunity to improve yourself.

You didn’t get that job.

Good, you get to use that pain as fuel to get an even better job.

You’re a nobody.

Good, being poor and unknown means you have nothing to lose and that makes you dangerous.

You don’t have time.

Good, you’ll have to stop wasting time on things that really don’t matter.

It’s all good.

Second Order Discovery


Second order thinking is hard.  It’s not a natural way of thinking.

First order thinking refers to the most simplistic method of analysis.  You can think of it as a form of thinking that most people engage in.  As most people have the same thoughts, which are automatic and go without any questioning, they come to the same conclusion.

Second order thinking is much rarer and only a small subset of people sit down to think about topics deeply and then come to conclusions which may be different from the majority.  Obviously, if you have unoriginal thoughts, then you will have the same actions as other people which is why second order thinking is so important.

An example of first order thinking would be how most of my patients think.  “I am depressed, therefore I need medication.”  Second order thinking is much deeper and takes into account a lot of different important aspects.  Second order thinkers may start to question their role in society, the role of society itself, value creation, what they value, being valuable, family, relationships with family and their neighbours and so on.  These people end up coming to conclusions which are different and most of the time (especially when it comes to more complex topics) more correct than first order thinkers.

I want to write today about second order discovery.  Something that I haven’t seen written about anywhere.  However, I think it is very relevant to business and entrepreneurship.  As this essay itself is a form of second order thinking (although much of it is derived from empiricism) it is quite axiomatic; reading the whole thing is the only way that you will be able to understand what I am trying to say.

Innovation & Entrepreneurship

There is a widespread misconception that “innovation” is the same as “entrepreneurship”.  It is not.  Many of the world’s most famous innovators died poor.  It’s not people’s fault that they presume “entrepreneurship” is the same as “innovation”.   These two terms are conflated by the popular press and in the public discourse.

However, if you look at the history of technological advancement, it is shocking to see how little entrepreneurship has contributed to it.  There is a very interesting page on the NASA website which shows the number of real life-changing innovations NASA have created as a result of space travel such as the development of artificial limbs and ventricular assist devices.

The reason entrepreneurship necessarily doesn’t lead to massive technological advancement is very simple: Entrepreneurs create businesses which have to be economically viable.  However, real impactful innovation most often occurs as a result of continuous government funding and experimentation by technologists in government institutions such as Universities.  The modern PC and the Internet for example arguably are the technologies that have had the most impact in the world in the last couple of decades.  These were both borne out of government institutions.  Once the technology is available, it’s up to entrepreneurs to then create products and services which the market will want to pay money for.

Note that also technological advancement and the discovery of its applications is always the result of random experimentation, serendipity and luck.  Most of the technologies we take for granted today, such as antibiotics were discovered by luck, not by design.  Indeed the technologies that NASA created are a perfect example of how random experimentation leads to useful byproducts.

A Word About Cognitive Dissonance & Political Leanings

When I speak to others through this line of thought, people usually fall in to two camps.

They either use it as more evidence that business and private companies are evil and simply extract money from consumers.  They argue that we don’t need private interests involved when the government can do everything.

Or they fall in to the camp of people who try to bring up private companies who have produced a lot of valuable technology and are therefore the only solution society needs.  They claim that Private Companies can solve all of the problems faced by society and that the government should step aside.

Yes, there are entrepreneurs out there who are truly innovative and are creating valuable technologies (Jeff Bezos springs to mind), but if you think about it, these types of entrepreneurs have billions of dollars at their disposal to start interesting side projects (e.g. Blue Origin, which is Jeff Bezos’ space programme), while also running a viable business (Amazon).  These entrepreneurs are in the minority.  Most entrepreneurs are in the game of running businesses and “Value Creation”.  And also, keep in mind that Jeff Bezos himself says that Amazon is such a success as all the “heavy lifting” had already been put in place such as the infrastructure for the Internet, roads, railways, delivery processes and worldwide travel, a lot of which is a result of government investment.

The point is that this observation is not a case for or against capitalism / socialism / private companies / government organisations.  It is just that; an observation.

Another observation is that it is the entrepreneurs who take the technology which has been created, make products and services for the market, distribute it and encourage widespread adoption.  This is what Apple did with the iPhone – the technology already existed for the first iPhone, but Apple put it all together in a marketable way.  As a result they created new value and therefore new wealth for society.

And yet another observation is that private companies and government organisations go hand in hand.  Without the private market, technology would just sit unused in government organisations and society as a whole would not benefit from technological advancement.

The argument that private companies can solve all the problems and create all the technologies needed to solve the worlds problems is the same as saying that governments can do it all by themselves.  They are the same in so far as that these are both “theories”.  What I have written about above is an observable fact which has been going on for centuries.

The Domain of the Entrepreneur

Peter Drucker once said that if the technology is not robust, well-tested and proven to work, then it is not ready for the market.  It is out of the domain of entrepreneurs who are concerned with making a marketable product.

Thinking of things in these terms is helpful.

Startups which are trying to create AI in the hopes of replacing physicians will likely fail as the technology behind AI is nowhere near marketable at present.  They have finite resources, unlike government organisations, so they will run out of cash before getting to those important discoveries.

So as an entrepreneur your thinking has to go along the lines of “what problem can I solve with technology that is accessible to me, which will also solve the problem in a better way than how it is solved now?”.

This is a very tricky question to answer as most businesses and entrepreneurs are on the lookout for them most of the time.  This is the reason that if you encounter an obvious problem that a lot of people will give you money for, it is likely a bad business idea.

Peter Thiel once said that the best startup ideas look like bad ideas, but actually they are really good ideas.  The reason is that if a business idea is obviously great, then a lot of entrepreneurs and businesses with a ton of capital backing them will have already created solutions or will be in the process of creating solutions that you, as a lone entrepreneur can’t compete against.

This leaves entrepreneurs with smaller, non-obvious problems to solve.  If it is non-obvious then the larger companies won’t be aware of the business opportunity.  If it is small, then large companies won’t even go after the business as the profits they would make would be too small to make business sense.  However, if you are a lone entrepreneur, then a small win (which could be up to a few million a year in profits), is likely more than enough encouragement needed to pursuit the idea.

First & Second Order Discovery

Paul Graham wrote an essay about having good startup ideas.  It can be summarised in a sentence: “Build cool stuff.”  He goes on to say that building cool stuff, will likely mean that you build new stuff.  If you do build cool and new stuff which solves a problem in your life then it is likely many others also have the same problems for which they will give you money for.

When I started my startup, this is exactly what I did.  I built something cool to solve a problem I experienced as a doctor.  I soon found out that no one would give me money for it.  The problem wasn’t serious enough for most organisations, although they did certainly think I was “cool” for building my own app which my patients now use.

However, what no one had told me when I started my startup is that this is actually the best way to discover something people will give you money for.  This is also the way to discover the elusive “bad idea which is actually a good idea”.

The fact is that coming up with an “idea which seems bad, but is actually good” is a form of second order discovery.  You start something which seems cool, but is likely a really bad business idea.  However, merely the act of starting the journey will get you to a place where no one else has ever been before – almost like an adventurer discovering a new land.  When you get to that place where you’ve built something cool, it is incredibly likely that you will discover problems and then come up with solutions which not only has no one thought about, but certainly that no entrepreneur/business has even addressed.  They simply don’t even know about it!

Let’s take the example of AirBnB.  The founders of the company needed to pay rent, so they put up their living room for rent online.  They figured that people would pay to stay in their living room when there was a convention on in their city and that they would provide their guests with an air-bed to sleep on and serve them breakfast in the morning (thus the name Air Bed & Breakfast).  They couldn’t believe it when it actually worked – so they decided to try to make it into a business.

Many years later, they discovered that they could actually disrupt the hotel market.  There was this whole new market of unused space that people had been looking over for years.  They didn’t have a clue at the beginning that they’d end up with a business worth $30 billion (and counting).

Is anyone in doubt that if Hilton Hotels knew about this untapped market that they wouldn’t have poured all their resources into this opportunity?  The fact is that as it seemed like a bad idea with a small market at first, they didn’t even attempt to address the problem.  But the fact that they wouldn’t address the initial problem meant that they never got to the position to discover this new market.

The myth is that there are geniuses out there who can predict the future and as a result they become wildly successful.  The fact however is that entrepreneurs discover things out of curiosity and luck.  These discoveries then lead to new discoveries and new markets which then puts them in a position to win.

What Is Your Mind Worth?


That photo above used to be one of the most valuable commodities in the world.


Most people used to work in agriculture; growing and harvesting crops.  This type of physical labor was the main source of employment less than a hundred years ago.

Soon after World War II, things began to change.  Quite suddenly we moved to a “Knowledge Society”.  Then all of a sudden people were being paid to sit down to use their mind instead of their physical strength.

It is odd to think, that nowadays your knowledge is considered far more rare and valuable than acres and acres of land.