The art of any deal is really the art of its next deal.  “When we fail to consider the future consequences of mistreating our counter-parties in a current ‘deal’ or first phase, it can wind up leaving our “reputational cue ball” ill-positioned for the next shot—the next deal or phase to come down the pike.”

-Charles Munger, Poor Charlie’s Almanack, and Shane Parrish on the four types of relationships.