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1. The “10% serendipity rule” is an informal principle that suggests proactively engaging in a small percentage of unplanned or slightly uncomfortable activities to increase the likelihood of fortunate, unexpected discoveries or opportunities. It is not a fixed rule but rather a mindset for inviting more “active luck” into one’s life. 

The core idea is to say “yes” to approximately 10% more events, coffees, workouts, or social interactions than you might typically feel inclined to do. The principle argues that while staying in your comfort zone has zero upside for unexpected opportunities, stepping outside it—even slightly—creates ripple effects with unlimited potential benefits you could not have predicted. 

2. Opportunity cost, diminishing marginal returns, and comparative advantage

When economists try to describe people’s preferences, they assume that marginal utility of a good is decreasing. In other words, if we have very little of something, getting more of it makes us very happy. If we have already a lot of it, we care a lot less. For example, $20 seem like a fortune to a child, but like a drop in the bucket to a billionaire.

3. “The only way to develop true confidence is to earn it.

• The confidence that you can bounce back from failure is earned by working through previous failures.
• The confidence that you can deliver the speech is earned by the previous speeches you have given.
• The confidence that you can perform on game day is earned by the previous performances in practice.

In the beginning, you need enough courage to practice even though it may not go very well. And over time, as your skills improve, courage transforms into confidence. Courage first, confidence later.”