Sometimes you have to like your goals more than you like your friends.

0:00Do deals with friends as though they're enemies, so that they stay friends. If you operate with friends as though they are enemies, as though they are strangers, then everything you have is upside. I think people are always surprised when they see someone's quote true colors, but what it really is is that you get to see someone's true values when there are stakes. Is he honest to $100 and then after that he's a liar? Is he honest to $1,000 and then he's a liar? Is he honest to a million dollars and then he's a liar? I see the world as 100% transactional. I think a lot of people have a problem with that, and I don't think it's because they disagree if I unpack it. I think they are hurt by what that means about them.

0:38People hear the word transactional and think that means short-term, but that's just what somebody who's bad at transactional relationships does. But if you think about the benefit of having a long-term relationship, whether that's a marriage, a business partnership, an employee relationship, fundamentally, if you have a long history of positive relationships, or positive experiences with somebody, business partner, whatever, and then there's a period of time where it goes negative. You're more willing to extend out that period of negative because you expect a return to baseline. And so, the idea that friendships are not transactional is ridiculous. It's just that you have to measure them over longer periods of time. Do deals with friends as though they're enemies, so that they stay friends. If you operate with friends as though they are enemies, as though they are strangers, then everything you have is upside. I think people are always surprised when they see someone's …