Warren Buffett, who has amassed 99% of his wealth since the age of 50, revealed that the secret lies in “compound.” When you lend money, interest is added to the principal as income. Initially, interest is applied only to the principal, but compound interest is applied to both the principal and the accumulated interest. Therefore, at first, it seems negligible, but over time, significant wealth growth takes place. The same principle applies to reading: even if your reading speed is slow, consistently reading just a few books each day can lead to a wealth of knowledge. After a year, this accumulated knowledge creates a network effect, allowing you to quickly absorb new information. Consequently, your reading speed increases dramatically, leading to an exponential growth in the volume of material you can handle. This exemplifies the compound interest effect. Even small, consistent actions taken daily can build up and create a compound interest effect over time. Cartoonist Lee Hyun-se sta...
A panopticon is a prison design inspired by British utilitarian Jeremy Bentham’s ideas. The most effective way to monitor prisoners is to create spaces where a few prison officers can observe many prisoners without being seen themselves. Control is not exercised by the prison officers but rather by the design of the space. A watchtower with tiny windows is situated in the center of the circular structure, allowing the interior of the prison to appear bright while enabling the prison officers in the watchtower to keep an eye on the prisoners. Power stems from the ability to observe others without revealing one’s existence. - Joseph’s “just my thoughts”