The first principles approach has been used by many great thinkers including inventor Johannes Gutenberg, military strategist John Boyd, and the ancient philosopher Aristotle, but no one embodies the philosophy of first principles thinking more effectively than entrepreneur Elon Musk and Ray Dalio. Make sure to subscribe, hit the like button and don't forget to click the notification bell to get weekly updates. https://www.youtube.com/user/ameerrosic?sub_confirmation=1 First principles thinking, which is sometimes called reasoning from first principles, is one of the most effective strategies you can employ for breaking down complicated problems and generating original solutions. It also might be the single best approach to learn how to think for yourself. The Basics A first principle is a foundational proposition or assumption that stands alone. We cannot deduce first principles from any other proposition or assumption. Aristotle, writing[1] on first principles, said: In every systematic inquiry (methodos) where there are first principles, or causes, or elements, knowledge and science result from acquiring knowledge of these; for we think we know something just in case we acquire knowledge of the primary causes, the primary first principles, all the way to the elements. Later he connected the idea to knowledge, defining first principles as “the first basis from which a thing is known.”[2] The search for first principles is not unique to philosophy. All great thinkers do it. Reasoning by first principles removes the impurity of assumptions and conventions. What remains is the essentials. It’s one of the best mental models you can use to improve your thinking because the essentials allow you to see where reasoning by analogy might lead you astray. Example Elon Musk applied “first principle thinking” with SpaceX. “When Musk was estimating the cost of building the first SpaceX rockets, he could have simply used comparable products on the market as a benchmark. Making decisions using common knowledge is the antithesis of first principles thinking. Instead, his team analyzed the necessary parts of a rocket, then researched the prices of the raw materials of parts firsthand. As a result, the SpaceX team was surprised to learn that they could build a rocket that cost around two percent of the typical price.” As Alber Einstein stated “If I had an hour to solve a problem and my life depended on the solution, I would spend the first 55 minutes determining the proper question to ask, for once I know the proper question, I could solve the problem in less than five minutes.” – Albert Einstein Source material: https://fs.blog/2018/04/first-principles/ Get access to all my weekly content, episodes, live events, and business-related updates http://tiny.cc/3p9mcz Follow me on Minds https://www.minds.com/ameerrosic/ Listen on Itunes http://tiny.cc/fwtvcz Sticher http://tiny.cc/so9mcz Google Podcast http://tiny.cc/dekncz Spotify http://tiny.cc/fxtvcz Playlists Psychology https://youtu.be/pq02IiFHqU0 Psychedelics https://youtu.be/4CSKSV95mU4 Daily Tech News https://youtu.be/Lw4rMoQFK14 Podcast Clips https://youtu.be/274bd2aw_mI Life Lessons https://youtu.be/kk4abdKm29M Startup Lessons https://youtu.be/HxoX_ZSKOWY First Principles Thinking https://youtu.be/EwmZd19BmRE #1 wallet I use. Keep Your Bitcoin & Ethereum Safe, Cold Storage Wallet: http://bit.ly/2o7BmgW Follow me http://www.Instagram.com/ameerrosic https://www.facebook.com/AmeerRosic/ Blockgeeks YouTube Channel https://www.youtube.com/c/BlockGeeks My name is Ameer Rosic, and I'm a serial entrepreneur, investor, Marketing Strategist and Blockchain Evangelist Blockchain Training: http://bit.ly/2nGhdn0 Blog http://www.Ameerrosic.com Blockgeeks: http://www.blockgeeks.com Facebook http://www.Facebook.com/ameerrosic Twitter http://www.Twitter.com/ameerrosic Instagram http://www.Instagram.com/ameerrosic #Firstprinciplesthinking #ElonMusk