Circle of competence.

Competence is a ten-letter word.

Ten-letter words occupy less than 1% of our vernacular.

We use them sparingly, rarely out of context, and whenever used, we're pretty confident that they're fit for purpose.

Peter Thiel–one of the most successful angel investors of recent times–states that his investment thesis relies on looking for secrets–secrets hiding in plain sight. 

But what does this mean? If it's a secret–how do you find it?

And if it's in plain sight–why hasn't anybody else already seen it?

This contrarian thinking is table stakes in venture investing–yet alien to almost everyone else.

Why?

If a little confidence is dangerous, then are we not all a danger to ourselves?

I, for one, have been overconfident to the point of recklessness on more than a few occasions. I don’t think I’m not alone in this matter!

So why do we find it so hard to draw our circle of competence and remain within it?

Hubris?

Malice?

Or a view that a little help is better than none? 

Have you ever given directions to a stranger when you–kind of–know the answer but are not 100% certain.

Well, to say nothing would be downright unfriendly, maybe even selfish–right? 

Wrong!

No one thanks a surgeon for having a blunt knife, even if it does–kind of–work!