Get Paid for Your Judgment
Get Paid for Your Judgment
Choosing what kinds of jobs, careers, or fields you get into and what sort of deals you’re willing to take from your employer will give you much more free time. Then, you don’t have to worry as much about time management. I would love to be paid purely for my judgment, not for any work. I want a robot, capital, or computer to do the work, but I want to be paid for my judgment. [1]
I think every human should aspire to being knowledgeable about certain things and being paid for our unique knowledge. We have as much leverage as is possible in our business, whether it’s through robots or computers or what have you. Then, we can be masters of our own time because we are just being tracked on outputs and not inputs.
Imagine someone comes along who demonstrably has slightly better judgment. They’re right 85 percent of the time instead of 75 percent. You will pay them $50 million, $100 million, $200 million, whatever it takes, because 10 percent better judgment steering a $100 billion ship is very valuable. CEOs are highly paid because of their leverage. Small differences in judgment and capability really get amplified. [2]
Demonstrated judgment—credibility around the judgment— is so critical. Warren Buffett wins here because he has massive credibility. He’s been highly accountable. He’s been right over and over in the public domain. He’s built a reputation for very high integrity, so you can trust him. People will throw infinite leverage behind him because of his judgment. Nobody asks him how hard he works. Nobody asks him when he wakes up or when he goes to sleep. They’re like, “Warren, just do your thing.”
Judgment—especially demonstrated judgment, with high accountability and a clear track record—is critical. [78]
We waste our time with short-term thinking and busywork. Warren Buffett spends a year deciding and a day acting. That act lasts decades.
Just from being marginally better, like running a quarter mile a fraction of a second faster, some people get paid a lot more—orders of magnitude more. Leverage magnifies those differences even more. Being at the extreme in your art is very important in the age of leverage. [2]
为你的判断力获得报酬
选择你从事的工作、职业或领域类型，以及你愿意从雇主那里接受什么样的条件，将让你拥有更多的自由时间。这样，你就不用太担心时间管理的问题了。我很想只为我的判断力而获得报酬，而不是为实际的工作。我希望机器人、资本或计算机来完成工作，而我则因为我的判断力获得报酬。[1]
我认为每个人都应该力求在某些方面拥有独特的知识，并因这种独特的知识获得报酬。不论是通过机器人、计算机还是其他工具，我们应该在自己的业务中尽可能地获得杠杆效应。这样，我们可以掌控自己的时间，因为我们只需要对输出负责，而不是对投入负责。
想象一下，有人证明自己在判断力上稍微胜出，他们的正确率是85%，而不是75%。你会支付他们5000万、1亿、甚至2亿美元，因为多出10%的判断力对掌舵一家价值1000亿美元的公司来说非常有价值。CEO的高薪正是因为他们的杠杆效应。小小的判断力和能力差异往往会被极大地放大。[2]
展现出来的判断力——围绕判断力建立的可信度——至关重要。沃伦·巴菲特在这方面独占鳌头，因为他拥有巨大的可信度。他对自己的判断高度负责，并且在公共领域一次次证明自己是正确的。他建立了极高诚信的声誉，因此人们信任他。由于他的判断力，人们愿意给予他无限的杠杆。没有人问他工作有多辛苦，没有人问他几点起床或几点睡觉。他们只说：“沃伦，随心去做你的事情吧。”
判断力——尤其是有高责任感和清晰记录的展现出来的判断力——是至关重要的。[78]
我们浪费时间在短期思维和忙碌琐事上。沃伦·巴菲特花一年时间做决定，一天时间行动，而这个行动能持续几十年。
仅仅因为在某些方面稍微胜出，比如跑四分之一英里快了零点几秒，有些人就能获得更多的报酬——数量级上更多。杠杆进一步放大了这些差异。在杠杆时代，成为你所从事的艺术领域中的极致是非常重要的。[2]