The Buddha shares his own journey of seeking the path to awakening, from leaving the household life, to studying under two meditation teachers, to attaining full awakening and an account of teaching the Dhamma to his first five disciples.

Then, bhikkhus, it occurred to me: ‘The |Dhamma::mental quality, state [dhamma]| I have attained is |profound::hard to fathom [gambhīra]|, hard to perceive, difficult to comprehend, |tranquil::peaceful, calm [santa]|, sublime, |beyond the realm of conjecture::outside the realm of thought, beyond logic [atakkāvacara]|, subtle, to be experienced by the wise.’ But this generation delights in attachment, is devoted to attachment, and is pleased with attachment. For a generation that delights in attachment, is devoted to attachment and is pleased with attachment, this state is difficult to see - that is, the |general law of conditionality::actuality of dependence [idappaccayatā]| and |dependent co-arising::the process of arising together from a cause, chain of causation, dependent origination [paṭiccasamuppāda]|. And this state too is difficult to see - that is, |the stilling of all formations::calming of all intentions, volitions, mental activities [sabbasaṅkhārasamatha]|, the |relinquishing of all acquisitions::letting go of all attachments, releasing of all ‘I’, ‘me’, ‘mine’ making [sabbūpadhipaṭinissagga]|, |wearing away of craving::depletion of craving, wanting, yearning, passion [taṇhākkhaya]|, fading of desire, ending, Nibbāna. If I were to teach the Dhamma and others did not understand me, it would be wearying and troublesome for me.’

The Buddha explains how even small attachments can be strong fetters if not relinquished, using similes of a quail and an elephant, and contrasts between the poor and wealthy. He describes four types of practitioners based on their response to attachment and mindfulness. The discourse also presents gradual refinement of meditative attainments from the first jhāna to the cessation of perception and feeling.

Suppose, Udāyī, there were a householder or householder’s son, rich, affluent, and wealthy, with several piles of gold coins, with several piles of grains, with several fields, with several properties, with several wives, and with a host of servants and maidservants. Then he sees a bhikkhu who has gone to the park, with well-washed hands and feet, having eaten delicious food, sitting in the cool shade, practicing devoted to the higher mind. He thinks: ‘How pleasant is the state of being a bhikkhu! How healthy is the state of being a bhikkhu! If only I could shave off my hair and beard, put on the ochre robes, and go forth from the household life into homelessness.’ And he is able to let go of all those several piles of gold coins, all those several piles of grains, all those several fields, all those several properties, all those several wives, and all those hosts of servants and maidservants—to shave off his hair and beard, put on the ochre robes, and go forth from the household life into homelessness. Now suppose someone were to say: ‘The bonds by which that householder or householder’s son is bound such that he can let go of all those several piles of gold coins, all those several piles of grains, all those several fields, all those several properties, all those several wives, and all those hosts of servants and maidservants; to shave off his hair and beard, put on the ochre robes, and go forth from the household life into homelessness, are for him a strong bond, a strenuous tie, a solid bond, an undecaying tether, a massive weight, a wooden yoke’—would that person, Udāyī, be speaking rightly?”

A series of questions and answers between Venerable Sāriputta and Venerable Mahākoṭṭhika that clarify subtle yet important aspects of the teachings. Topics covered include wisdom, consciousness, felt experience, perception, purified mind-consciousness, right view, existence, first jhāna, the five faculties, vital formations, and the release of the mind.

“Friend, |passion::intense desire, strong emotion, infatuation, obsession, lust [rāga]| is a maker of limitation, |aversion::ill will, hatred, hostility, mental attitude of rejection, fault-finding, resentful disapproval [dosa]| is a maker of limitation, and |illusion::delusion, erroneous belief, false idea, misapprehension; it fuels further confusion and doubt [moha]| is a maker of limitation. In a bhikkhu |whose mental defilements have ended::who is awakened through the complete exhaustion of the mental effluents, taints [khīṇāsava]|, these [passion, aversion, and illusion] are abandoned, cut off at the root, made like a palm stump, obliterated, and are no more subject to future arising. Friends, as far as boundless releases of the mind extend, the |unshakeable release of the mind::unassailable, unwavering and indisputable liberation of the mind [akuppa + cetovimutti]| is considered the best. And that unshakeable release of the mind is empty of passion, empty of aversion, and empty of illusion.

The Buddha finds Anuruddha, Nandiya, and Kimbila living in exemplary harmony—goodwill in body, speech, and mind; shared duties; noble silence; and an all-night Dhamma discussion every fifth day. They can enter the four jhānas and the formless attainments at will, culminating in the exhaustion of the mental defilements from having seen with wisdom.

“Why wouldn’t we, venerable sir? In this regard, venerable sir, whenever we wish, with the complete surpassing of the base of boundless space, aware that ‘consciousness is boundless,’ we enter upon and dwell in the |base of boundless consciousness::field of limitless awareness [viññāṇañcāyatana]|. With the complete surpassing of the base of boundless consciousness, aware that ‘there is nothing,’ we enter upon and abide in the |base of nothingness::field of awareness centered on the absence of any distinct “something" to grasp or hold onto [ākiñcaññāyatana]|. With the complete surpassing of the base of nothingness, we enter upon and abide in the |base of neither perception nor non-perception::field of awareness of subtle mental activity that do not arise to the level of forming a perception [nevasaññānāsaññāyatana]|. This, venerable sir, is the superhuman state, a distinction in knowledge and vision worthy of a noble person, and a comfortable dwelling we have attained—which surpasses the preceding dwelling, with the internal stilling of that dwelling—while abiding thus diligent, resolute, and with continuous effort.”