REASONING FROM FIRST PRINCIPLES

When Elon Musk launched SpaceX, his idea was to buy a rocket but he ended up building one. He discovered that the cost of one rocket would pose a serious economic threat. Musk explains his next action:

"So I said, okay, let's look at the first principles. What is a rocket made of? Aerospace-grade aluminum alloys + some titanium, copper & carbon fiber. Then I asked, what is the value of those materials on the commodity market? It turned out that the materials cost of a rocket was around 2% of the typical price."

Ok, all of us don't make rockets for living but 'First Principles Thinking' as a problem solving approach is universally applicable.- break down a complex problem into its foundational elements.

How does one get started here ? Towards this, Loved the way Sahil Bloom articulated (https://bit.ly/30OVXMH) these questions-

What is the problem I am trying to solve?
What do I know to be true about this problem?
Why do I believe these "truths" to be true?
Is there real evidence to support these beliefs?
Are my emotions clouding my judgment & reasoning?
What alternative viewpoints might exist?
What are the consequences of being wrong in my original beliefs?

Without a firm grasp of the basics, there is little chance of mastering the details.

My Sketchnote:

My LinkedIn Post:

https://www.linkedin.com/posts/anujmagazine_reasoning-from-first-principles-when-elon-activity-6777968913293692928-7tFQ/