If quality of opportunity follows a power law, you should spend almost all your time searching.
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Much more in those fields, yeah, but I disagree that it’s only true there. If the premise is true, than an ounce of execution on the right opportunity is worth a pound in a run-of-the-mill one.
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Not if you run out of time, money, or motivation looking for it. Search is generally a cost sink, time sink, and motivation killer. There’s also an opportunity cost in terms of learning. Should you get 2x better at your craft working in half as good an opportunity? Often, yes.
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