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Seven-Bullet Monday - December 4, 2023


Here is your Seven-Bullet Monday

 

1.       A quote I am pondering:

"The best time to plant a tree was 20 years ago. The second-best time is now." – old Chinese proverb


Rather than lamenting missed opportunities in the past, we should take action now because it is never too late to start something beneficial. Besides, the next 20 years are going to come sooner than we know it, and by planting the tree today, we will have something to look back on with pride.


2.       A question I am asking myself:

"Which of my current habits is least aligned with the type of person I hope to become?   


Because my life's trajectory is essentially built out of my habits, whether good or bad, I need to work on eliminating or at least reducing my bad habits.   


3.       A book I am reading:

The Worlds I See: Curiosity, Exploration, and Discovery at the Dawn of AI – Fei-Fei Li


Fei-Fei Li is best known for creating ImageNet, which significantly advanced modern Artificial Intelligence. In the book, she talks of her journey starting as a childhood immigrant from China, growing up in American poverty, caring for her ailing mother, and ultimately becoming a leading AI scientist. The book parallels her life's journey with the evolvement of AI and details how many of her personal struggles helped her advance a caring and ethical AI future.

 

4.       What I learnt this week

Agnostic Autonomous Haulage Systems are a credible alternative to major mining equipment suppliers


An agnostic autonomous haulage system (AHS) by ASI Mining has successfully been trialled in Australian iron ore mining. This technology is notable for its OEM agnosticism, meaning it can convert any conventional haul truck into an autonomous one, regardless of make or model. The project at Roy Hill, which involved transforming their entire truck fleet, consisting of CAT 793F and Hitachi EH5000 haul trucks, to autonomous haulage, is a significant development. It represents a shift in the mining industry, offering safe and productive autonomous technology to mines that operate more than one type of haul truck.

 

5.       My highlight this week

I had a couple of highlights this week


Our first-ever dedicated Conuma Energy Manager starting  


Andrew Uraih, our brand new Conuma Energy Manager, started on Monday. This is very exciting for me, as we have so many opportunities across our mining operations to be more energy efficient and reduce our emissions. Welcome, Andrew!

 

Laying down some new lawn for our townhouse


I spent Tuesday removing some of the old lawn, collecting some new sod and laying it down in the garden. Our existing lawn had essentially become a mud patch the dogs dragged inside. It was clearly a two-person job, which I underestimated, but I still managed to get it done by early evening, and it now looks ten times better than it was.

 

 Wrapping up our 2024 Creeky Blinders men's group year with a fireside dinner

 

We managed to secure the coveted fireplace corner at Carderos in Coal Harbour. We had a fantastic evening reminiscing about the two-and-a-half years our group has been running. There was plenty of ribbing and great discussion about our chief goals for 2024.

  

6.       Hugh-tips

In the words of Charlie Munger, deserve to be a successful investor  

 

Charlie Munger, Warren Buffet's 60-year partner in Berkshire Hathaway, passed away in November, two months short of reaching his 100th birthday. Munger's quotes are almost as legendary as his investing, so this week, I will leave you with this quote, "To get what you want, you have to deserve what you want. The world is not yet a crazy enough place to reward a whole bunch of undeserving people." To deserve to outperform the market, you need to know your goals, do the work on your investments, and be both patient and disciplined.

 

7.       My challenge for you this week

Plan for change next year because the future is coming faster than you think


2023 will be known as the year when artificial intelligence (AI) hit the mainstream, with some 200 million users now interacting with ChatGPT. As much as 2023 brought massive technological change, 2024 could see double that change and 2025 even more. That means we need to respond at a similar pace so 1) we don't get left behind and 2) we exercise as much leverage as AI can provide us. In 2024, I will spend at least three hours a week learning new technologies and AI offerings. I encourage you to do the same!

 

 Have a great first week of December.

 

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