I’ll give you an example. In my twenties, I invested $100,000 into a business idea that never took off. Now that I understand cognitive biases — thanks to Charlie Munger — I see how the pernicious sunk cost fallacy wreaked havoc upon my decision-making. Today when I consider new business ideas, instead of just imagining how great they’re going to be, I spend just as much time envisioning what could go wrong — another Munger hack. I no longer have to remind myself to think this way anymore. I’ve internalized these concepts and now my mind actually works differently.
I can’t attest to the oral lacerations yet. But the abyss is real. It’s the black box of unkown unknowns where you have to trust your instinct and know that the next step will reveal itself once you jump in. You’re committing yourself, trusting that you’ll figure shit out when you need to.