📮 Saying No to a Thousand Things
Steve Jobs, discipline, and the quiet power of long-term focus...
Steve Jobs once said —
“People think focus means saying yes to the thing you've got to focus on. But that's not what it means at all. It means saying no to the hundred other good ideas that there are. You have to pick carefully. I'm actually as proud of the things we haven't done as the things I have done. Innovation is saying no to 1,000 things.”
There’s something deeply elegant about this idea —
focus is subtraction
Not a manic intensity, but a deliberate refusal.
Not about hustle. About choosing — and protecting — what matters most.
🧭 The Same is True in Investing
It took me years to internalise this.
That long-term investing isn’t just about patience, or compounding, or buying good businesses.
It’s about saying no.
No to fads, even when they trend.
No to consensus, even when it feels safe.
No to short-term metrics, even when they shout.
No to tempting businesses with fragile foundations.
No to “almost right” valuations.
🧱 What I Choose to Focus On
Over the years, I’ve said no to thousands of pitches, trends, and stories.
And I’ve said yes to a small set of principles — ones that compound quietly over time.
Here’s where my focus lives:
India — not just as a geography, but a generational opportunity in slow formalisation, digital rails, and middle-class behaviour change
Business Quality — strong moats, habit loops, pricing power, capital efficiency
Management Depth — not just clean promoters, but high quality management teams with focus on execution, capital allocation and long term thinking
Valuation Discipline — buying with room to breathe, not just hope
Fieldwork-Driven Insight — not screens, but chai shop conversations; the whispers behind the numbers
Temperament — the emotional infrastructure to stay still when others react
I’m not proud of this list because of what’s in it.
I’m proud of it because of what it excludes.
✍️ Saying No is a Form of Clarity
It’s easy to drown in ideas.
But edge isn’t about idea flow.
It’s about idea selection — and the discipline to hold the line.
Every yes carries an opportunity cost.
Focus is about being proud of your “NOs.”
🎯 Final Thought
We live in a world that worships doing more.
But in investing — and in life — the compounding happens when you do less, better.
For me, that means fewer businesses, fewer changes, fewer screens.
Just one geography.
One philosophy.
And one long arc of time.
Because if you say no to enough things,
eventually — what remains is who you really are.
What have you said “NO” to — in investing, or in life — that defined your path? Would love to hear.
Until next time,
Ravi Srivastava
Long-term investor | Author, Postcard from India
📬 Reflections on investing, India, and quiet compounding