The four paths to making money have never changed. They include poor information, poor cognition, poor execution and poor competition.
The information gap refers to things that I know that you don’t know, and this difference allows me to use this knowledge to make money.
The cognitive gap means that I know a certain field better than you. This cognitive advantage allows me to create more opportunities.
Poor execution means I can put my ideas into practice, but you lack the ability to take action.
Finally, poor competition means that even though we are all doing the same thing, I can still do it better and therefore be more successful.
These four paths are still the core of making money, and as long as we use them, we can be successful in anything.