Understanding CZ: Start with His 72 Principles
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Understanding CZ: Start with His 72 Principles
To know a person, first observe their actions.
Navigating Web3 tides with focused insightsSource: CZ’s new book, Binance Life
Compiled by KarenZ, Foresight News
On April 8, CZ officially released his new book, Binance Life: A Memoir of Luck, Resilience, and Protecting Users (Freedom of Money). CZ revealed that the first draft was written over four months on a highly restricted laptop while he was in prison; subsequent editing and polishing took nearly six months to finalize.
To understand a person, observe their actions. To truly know someone, first examine how they act. In the book’s appendix, CZ specifically outlines 72 principles and approaches to work.
I. Mindset:
1. Don’t waste time—A “don’t-do list” is more important than a to-do list.
2. Don’t obsess over money; create value, and money will follow.
3. Maximize the value of limited resources—Money is not scarce; reputation is.
4. Hold the line—never cross ethical red lines.
5. Treat people fairly—neither take advantage nor let others take advantage of you.
6. Pursue long-term win-win outcomes—short-term wins can erode long-term success.
7. Focus—success lies in how well and how deeply you execute a few key things.
8. Avoid “toxic” relationships—let go of people who demand excessive maintenance.
9. Maintain a positive mindset—“When life hits rock bottom, keep walking and you’ll emerge.”
10. Take ownership—don’t just “complete tasks”; treat them as your own responsibility.
11. Keep learning—books deliver the highest ROI for self-improvement.
12. Be an early adopter—enter influential new fields early.
13. Understand the world—avoid binary thinking; most things evolve gradually.
14. Don’t be misled by labels—see past them and grasp first principles.
15. Respect hard rules—damaged reputation makes future fundraising and success far harder.
16. Think globally—national borders are merely human-drawn lines; cultivate a global perspective.
II. Team:
17. Team > individual—prioritizing team interests benefits everyone in the long run.
18. Rotate team roles regularly—avoid organizational rigidity and create growth opportunities for new leaders.
19. Internal competition isn’t inherently bad—as long as professionalism is maintained.
20. “Ordered chaos” is still order—overly rigid organizations stifle innovation.
21. Prioritize local team-building—sharing a meal is the best team-building activity.
22. Give direct feedback anytime, anywhere—a culture of candid feedback is healthier than silence.
23. Avoid hollow verbal praise—focus instead on tangible results (“Did we do it well?”) and reinforce performance with concrete incentives like compensation.
24. Escalate issues via three-person meetings; ignore gossip outright and record it as a negative mark.
25. Hiring: Recruit passionate, hungry, mission-driven doers.
26. Don’t try to motivate those lacking self-drive—identify them early and help them exit quickly.
27. Lead by example—people watch what you do, not what you say.
28. Never micromanage—anyone requiring micromanagement should leave.
29. Evaluate candidates based on credentials during hiring; evaluate employees solely on results post-hire.
30. Remove low performers—high performers prefer working alongside other high performers.
31. Set goals around output—not inputs (e.g., hours worked, tasks completed, meetings held).
32. Don’t cling too tightly to goals—the market shifts rapidly; continuously redefine them.
33. Tolerate honest mistakes—but never tolerate cover-ups, deception, or laziness-induced errors.
III. Business & Partnerships:
34. Keep business simple—partnerships with too many variables often fail.
35. Say “no” early to unproductive partnerships—save time for both sides.
36. Move fast—or abandon altogether—sluggish progress is the worst option.
37. Reject exclusive partnerships—those demanding exclusivity usually lack confidence in themselves.
38. Always include termination clauses in contracts—ensure clear exit paths, even under worst-case scenarios.
39. Always limit liability—plan for the worst case, not the best.
40. No exceptions—treat all customers equally, always.
41. Grow business passively—when you’re strong enough, others will naturally seek you out.
IV. Communication:
42. Say “no” early and often—saying “no” is the most effective time-saver.
43. Start every communication with purpose—“I want…”—then decide whether background context is needed.
44. Write (and communicate in writing) concisely and efficiently: short meetings (<15 min), team meetings (30–60 min), monthly/quarterly business reviews (<5 pages), no flashy PPTs or slides. Blogs, articles, or books may be longer.
45. Prefer messaging over calls—send a message instead of making a phone call when possible.
46. Cut communication chains—go directly to the source; avoid secondhand information.
47. Clarify everything in one message—avoid sending multiple messages and bombarding recipients with notifications.
48. Avoid arguments via chat—resolve disagreements via video or voice calls.
49. Over-communicating is harmful—excessive communication signals unresolved core problems.
50. Provide context when asking questions—explain why you’re asking.
51. Specify units—don’t make others guess (e.g., write “$40,000/year”, not “40k”).
52. Keep meetings short—aim for 5 minutes; if you can’t achieve that, you likely haven’t yet reached alignment.
53. Start meetings on time—join 1 minute early; set alarms for 3:59, not 4:00.
54. Skip introductions and background—get straight to the point, starting with “We want…”
55. Limit discussion participants to fewer than 10—larger groups slow things down.
56. Anyone who remains silent throughout a meeting need not attend next time—just read the minutes.
57. Draft meeting talking points in advance—writing them down clarifies your thinking.
58. Avoid PowerPoint—use bullet points and bar charts instead.
59. Reject purposeless “introductory” or “exploratory” meetings—only attend meetings with clearly defined objectives.
V. Product:
60. Focus relentlessly on users—without users, there is no value.
61. Build only scalable products—start with an MVP; if it can’t scale, don’t build it.
62. Everyone is a product manager—you’re building products through your work.
VI. Public Relations:
63. Don’t launch with fanfare—wait until the product runs stably for one week.
64. Promote only proven results—never promote memos of understanding or letters of intent.
65. Announce once something is ready—don’t wait for a so-called “perfect moment”—delay carries enormous cost.
66. Respond to journalists—if you don’t, they’ll write the worst-case version. When necessary, issue statements yourself.
67. Respond swiftly to negative news—otherwise it spreads uncontrollably.
68. Decision-making framework: First assess whether the issue violates core principles; then distinguish between “big vs. small” and “reversible vs. irreversible” decisions; next evaluate your expertise and information sufficiency; finally reach a conclusion—and usually, “making and executing a decision” is better than “not deciding at all.” Categorize decisions to avoid “spending energy on trivial matters while making major decisions impulsively.”
VII. Rest, Staying Calm, and Relaxation
69. Sleep: 5–6 hours nightly + a 30–45-minute afternoon nap; rest and relax when tired—don’t push through exhaustion.
70. Temperamentally calm—emotional fluctuations are smaller than average—especially valuable under pressure.
71. No need for luxury offices—high-speed internet, external monitors, sit-stand desks, and phone mounts suffice.
72. Relaxation & recreation: Exercise daily; enjoy snowboarding; watch movies recommended by friends; no obsession with luxury cars or jewelry.
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