Great people respect time and make full use of it.
Even in prison, one will utilize time to organize their memoirs.
Spent a few days reading carefully and casually noted down quotes from it.
— About Time and Focus
1. Being present is eighty percent of success (\u003ca-188\u003eCZ(Binance Life) Reading Notes Series · Part Four, "Being present is eighty percent of success.").
2. Never interrupt your own momentum.
19. Time could have been spent on more constructive things.
31. I have become intolerant of people and things that waste time, and I have started to optimize time in various aspects.
32. 80% of human communication content is actually just idle chit-chat.
33. My communication style has also become extremely direct: no more beating around the bush, no small talk, no chit-chat, straight to the point.
34. Cherishing time has become my life creed. I execute this principle to the extreme, even if it offends people. My goal is not to avoid offending people, but to be efficient.
30. Exiting the group chat brought fundamental changes: out of sight, out of mind.
65. Keep it simple; spend time on more important things.
—About life and choices
3. Life is like playing cards; we have no choice over what cards we are dealt, but what matters is how well we play this hand.
4. One must choose what they truly love.
5. Future opportunities will always be more than the past.
48. My life goal has never been to be the "number one" or to defeat a competitor. I care more about whether I can do what I believe in with 100% effort and a clear conscience.
66. I still have time and energy. Since I can do it, I must do it. If I don't, looking back in the future, I won't be able to say, "I tried my best."
67. Life always has ups and downs, and all of this will pass! （CZ (Binance Life) Series Part One, he sold his house to gamble on Bitcoin, losing two-thirds — but he didn’t sell）
70. I have always believed: when you can do it, you must do it.
—About risk and investment
22. Risk varies from person to person. I know that putting all my assets into Bitcoin is risky, but I am more aware that not participating is a greater risk: I might miss the biggest opportunity of my effective era.
23. Many people evaluate risks by only looking at the matter itself, but what really needs to be evaluated is one's own situation and risk tolerance. Just like skydiving from a low altitude; it can be deadly for inexperienced people, but for professionals, it’s just routine training.
24. Confidence in one's own abilities is my risk control.
46. Venture capitalists do not provide timely help; they only add icing on the cake.
54. Early investors often receive excess returns. Failures are inevitable on the investment road, but as long as you seize a few successful projects, they are enough to cover all losses.
—About wealth and business
11. Without income, the company will go bankrupt.
18. Cash flow is the lifeblood.
21. The importance of liquidity.
44. Too many people desperately pursue money but always end up "wanting but unable to get it." True wealth comes from the value you create for others. If you can create ten points of value and only take eight points in return, wealth will naturally come to you.
45. The essence of wealth is not to maximize profit from every deal but to actively leave value space for customers. When you benefit your customers, they will naturally follow you.
51. Having money does not mean being smart.
52. Do not pursue fancy business models; focus only on core elements: product, user growth, revenue and profit, and the execution ability of the team.
53. Many people become complacent after making money. I prefer to invest in founders who are not just in it for the money, because they can build lasting companies and make an impact.
—About users and products
25. This experience has made us place the protection of user assets at the most important position since the founding of Binance.
27. The other side of so-called "decentralization": there is no customer service to help you trace back, and no central institution to back you up; once a mistake occurs, it is permanent.
28. I know that for users, it's never a small matter; it's their hard-earned trust.
39. "Protecting users" must be done with real money, not just empty slogans.
41. Protecting users is protecting the future.
42. When facing users, always choose to do the right thing, not the easy thing. If you protect users well, success and wealth will come beyond expectations. （CZ (Binance Life) Reading Notes Series · Part Five, on the first day BNB launched, it plummeted 40%, and his first line in the live stream was: "I am here"）
—About teams and management
13. I need to trust my team; the key is to find the right people.
14. Hire slowly, fire quickly.
15. Management is not just one dimension; we must respect business rules while also considering each individual's situation.
35. Binance's work style: straightforward and efficient, without dragging things out.
59. My principle is simple: when someone comes to me with a good idea, give them ample resources and freedom to try.
61. Teams need to be frequently changed. This can prevent inertia and give more people opportunities to grow.
—About negotiation and competition
7. Whether arguing or negotiating, never use ultimatums.
8. I will not make harsh statements, nor do I ever threaten the other party. When someone threatens you in negotiations, the best response is to choose the option they consider a "threat."
37. Never speak ill of colleagues. Just focus on doing your own job well.
50. We must protect the interests of existing shareholders and absolutely refuse to sell at a low price; when the other party threatens litigation in business negotiations, I choose the option they least want, to actually go to court.
—About growth and traps
12. Past successes do not guarantee future success. On the contrary, they may lead to complacency and insufficient effort, hindering success.
17. To become a top expert in a field, one must undergo a long and focused accumulation.
29. "Above average" success is actually the most dangerous. After achieving some minor accomplishments, one can easily become complacent. On the surface, it seems like I am doing better than many around me, but only I know: I haven't put in my full effort.
38. Some decisions we cannot know if they are right or wrong in advance. We can only make the best possible decision based on the limited information available at the time. More important than right or wrong is the ability to quickly adjust when circumstances change.
63. Every day, think about the decisions you've made; if any are based on core principles, write them down. Over time, you will form your own principles.
—About industry and regulation
16. The most taboo thing in exploring new markets is to be self-righteous.
20. Blockchain is a revolutionary technology for currency, making financial services more inclusive.
36. For startups, the scariest thing is not negative reports, but the fact that no one is discussing you.
49. The restrictive policies that local exchanges strive to maintain ultimately limit their own business development.
55. In countries without financial services, people lack channels to get rich, leading to significant wealth disparities.
58. The industry winter is actually more suitable for doing things diligently; those who remain have long-term thinking and will not be swayed by short-term market fluctuations.
62. The value or total market cap of tokens depends on their utility and demand, not on the total number of tokens. Relying on issuing more tokens cannot increase total market value; it will only severely dilute existing holders and accelerate price decline.
64. I gradually understand that the amount of fines is not based on how serious the mistakes are, but on how much money you have. This is also why many prosecutors like to focus on big companies. They are not pursuing justice, but "booty."
—About essence
6. Don't be a jerk; be a kind, easy-going person.
9. Education is just a tool.
26. The speed of technological development is like a snowball.
40. Protecting user rights ultimately brought us returns far beyond expectations.
43. Every destruction creates the most direct value for all BNB holders.
47. Whether it's things or lifestyle, what's most important is that you find it easy to use and live comfortably.
56. Be serious about your work, but don’t take life too seriously.
57. Focus on the essence; don’t be swayed by fancy concepts.
60. If you think a business won't succeed, the earlier you say "no," the better.
—About the darkest moments
10. The complexity of mergers and acquisitions lies in the constant friction between different management styles and corporate cultures.
68. In prison, when everything was taken away, I truly understood what is important.
69. What I truly care about is people. I miss my family and friends. I realize that the people around me are the most important. Now that I am free, I will not miss them again.
70 rules, not a collection of maxims, but something a person figures out in extreme situations.
Follow me to avoid getting lost; the reading notes series will continue to be updated.