Verse 3 - The void of wisdom

As the old adage goes, 'with great power comes great responsibility'. Few men are capable enough to get respect and power, fewer still are able to handle it, carry it. One is not born with power, it is bestowed upon him. Responsibility and power gravitates to the person who can handle it. Like Tao, it reveals itself to the most deserved one.

However one must not let the power climb to the mind. power must remain in heart. When power climbs to mind, it comes down as a great avalanche of ego and narcissism.
Also, do not give extreme importance to anyone. everyone or anyone at all is just as important as you. Being or non-being of someone does not create heaven or void respectively. Thousands of deaths happen every day, yet the course of nature is not disturbed, nothing stops, life goes on.

Similarly, when we overvalue possessions, we lose our own importance. Possessions are but objects in material world. They have no real existence. As discussed earlier in verse 1, they are perception of our senses. Be dethatched as the Tao, have but do not possess.
The more one knows, the more he understands the infinite limit of wisdom to fathom. Thus the master carefully starts by emptying his pupils minds of presumptions, he tears down the walls of established orthodox thoughts, teaches the pupil to question though rationality. One cannot fill water in a already full pot, one must empty it first. Thus the master first creates a void within his pupil. Once the mind is void, only then carving for knowledge will come. Only can then start the true process of learning. What happens when we try to fill an already filled pot? It overflows!

Practice detachment, then will everything fall in place.