Thu, Sep 23, 2027

朝者，義之理也。是故爵位正而民不怨，民不怨則不亂，然後義可理。理不正則不可以治，而不可不理也。故一國之人不可以皆貴，皆貴則事不成而國不利也。爲事之不成，國之不利也，使無貴者則民不能自理也，是故辨於爵列之尊卑，則知先後之序，貴賤之義矣。爲之有道。

Source： https://zh.wikisource.org/wiki/%E7%AE%A1%E5%AD%90/%E7%AC%AC05%E7%AF%87%E4%B9%98%E9%A6%AC
第05篇乘馬·第9则

This is a direct reading: the original and source are kept; commentary will be added later.

念頭濃者，自待厚，待人亦厚，處處皆濃； 念頭淡者，自待薄，待人亦薄，處處皆淡。 故君子居常嗜好，不可太濃豔，亦不宜太枯寂。

Source： https://zh.wikisource.org/wiki/%E8%8F%9C%E6%A0%B9%E8%AD%9A
第41则

This is a direct reading: the original and source are kept; commentary will be added later.

On the facing page, we show our long-standing performance measurement: The yearly change in Berkshire’s per-share book value versus the market performance of the S&P 500. What counts, of course, is per- share intrinsic value. But that’s a subjective figure, and book value is useful as a rough tracking indicator. (An extended discussion of intrinsic value is included in our Owner-Related Business Principles on pages 103 - 108. Those principles have been included in our reports for 30 years, and we urge new and prospective shareholders to read them.)

Source： https://www.berkshirehathaway.com/letters/2013ltr.pdf
2013 Chairman's Letter, excerpt 1

This is a direct reading: the original and source are kept; commentary will be added later.

上屢請上皇避暑九成宮，上皇以隋文帝終於彼，惡之。冬，十月，營大明宮，以為上皇清暑之所。未成而上皇寢疾，不果居。

Source： https://zh.wikisource.org/wiki/%E8%B3%87%E6%B2%BB%E9%80%9A%E9%91%91/%E5%8D%B7194
卷194·太宗文武大聖大廣孝皇帝上之下貞觀八年（甲午，公元六三四年）·第8则

This is a direct reading: the original and source are kept; commentary will be added later.

One of the most common types of advice we give at Y Combinator is to do things that don't scale.

Source： https://paulgraham.com/ds.html
Do Things that Don't Scale (2013)