The Oil Crisis in the fall of 1973, followed by a recession, affected government, business, and society the world over. A period of general prosperity in the 1950s and 1960s in the wake of WW II had provided good business conditions, particularly in the newly ascendant USA. However, towards the end of the 1960s, a period of low to no growth and inflation in many countries set in and became … [Read more...]
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5 Philosophies of History
There is history: what happened, but there is also a broader question: how does history happen, what drives it? Over time, different philosophies of history come in and out of vogue and so you tend to get different accounts of the same period or person: history has its own history. I like reading history and have read a fair amount and there are at least five different schools of what drives … [Read more...]
The Collison Decision Matrix: How to Make the Right Decision
We tend to focus a lot of energy on making “good” decisions. But I think it’s more important to think about making the right type of decision for the problem you are facing. Most "bad" decision making isn't bad in a generic way, but "bad" in the sense that it is contextually incorrect. Deciding about which type of jam you should buy at the grocery store is qualitatively different decision than … [Read more...]
The St. Petersburg Paradox (AKA How to Not Pull a FTX)
Disclaimer: This is an ongoing story and I am not privy to any facts beyond what I read on the internet like everyone else, note this is all alleged activity and everything said here is strictly for entertainment and informational purposes. There are a lot of topics that seem academic and semantic but that have really big real-world implications. One of those is the St. Petersburg Paradox and … [Read more...]
Best Operations Management Books and Resources
One of the most impressive business achievements of the late 20th century was the ascendance of Toyota from non-existent in the 1960s to the dominant car company in the United States. What is particularly impressive about Toyota is that they were not in a new or emerging category. The success of a Facebook or a Google is impressive in its own way, but they were part of new categories with … [Read more...]
Company Culture & How It Can Be Worth $150 Million
After AirBnB closed out their Series C raising $200 million in a round led by Peter Thiel’s Founders Fund, the AirBnB team invited Thiel to the office. They took him into a conference room and had pulled up various metrics on the screen to show him how the company was doing. Midway through the conversation, AirBnB CEO Brian Chesky asked Thiel what was the single most important piece of … [Read more...]
The Four Levels of Organization
Do you ever feel like a different version of the same problem keeps happening over and over? That every time you think you've finally won the game of whack-a-mole, another mole pops up? One common reason for this is that you are solving problems at the wrong level of the organization. Until you start to solve them at the right level, you’re going to continue to have an underperforming and … [Read more...]
How to Use the Cynefin Framework to Make Better Decisions
Facebook’s motto for many years was “move fast and break things.” Regardless of one’s opinion on Facebook, it’s hard to argue that this wasn’t the strategically correct business decision: it enabled a period of rapid growth where they outcompeted almost every other social network and established one of the most valuable companies in the world. This phrase and approach were repeated and copied, … [Read more...]
The Toyota Production System: A Love Letter
A supermarket is a magical place. It is a place where a customer can get: What they need.At the time they need it.In the amount they need it. Supermarkets must make certain that customers can buy what they need at any time. If you run a supermarket and 10% of your products are always out of stock, customers will stop coming. They won’t be able to get everything they need when they need it … [Read more...]
Insurance Makes Wealth Grow Faster
The traditional view of insurance is that it is a “win-lose” proposition. There are three reasons that insurance would exist: Asymmetric information - one party knows something that the other doesn’t.Irrationality - one party (typically the insurance purchaser) is dumb.Risk aversion - the buyer of insurance knows they are making a losing bet, but are willing to do this as a way to be more … [Read more...]
How to Predict our Economic, Political and Cultural Futures
I tend to subscribe to a theory of history which I will call soft technological determinism. It sees technology as the primary driving force of history. In this model, technology is upstream of economics which is upstream of culture which is upstream of politics. At one level, this is kind of a silly thing to say. It is sort of a version of the question "Does art imitate life or does life … [Read more...]
The Maginot Line Problem
The Maginot Line was a line of concrete fortifications, obstacles and weapons built by France in the 1930s to deter invasion by Germany. When it was built, the Maginot Line was believed to be one of the most significant innovations in national defense. Foreign leaders came from all over to tour it. It was an impressive-looking series of fortresses and railroads, resistant to all known … [Read more...]
Reality Has a Surprising Amount of Detail
It's a small world, but I'd hate to have to paint it.” —Steven Wright How confident are you about your ability to judge your own expertise? Do you think you generally know what you are good at and what you are bad at? Most people suffer from overconfidence bias. They tend to think that they know more than they really do. But surely you, in your infinite wisdom, are not one of these … [Read more...]
A COVID-19 Crisis Management Plan for Startups and Small Businesses
Crisis management is the process used by organizations to respond to disruptive and unexpected situations - black swan events if you will. In crisis management theory, they are typically three elements that make something a crisis: A meaningful threat to the organizationFrom an unexpected eventThat must be responded to quickly The coronavirus presents a pretty good example of something … [Read more...]
Coronavirus Primer for Reasonably Rational People
Last Updated March 7, 2020 Disclaimers/Caveats: I am not a public health expert, epidemiologists, etc. and make no claim to such. As mentioned numerous times throughout, all data is preliminary and my interpretation is amateur and should be interpreted as such. My goal here is merely to provide a helpful synthesis of existing information and a way to think about further developments. There is a … [Read more...]
A Big Little Idea Called Ergodicity (Or, The Ultimate Guide to Russian Roulette)
This is a big article. Download it as a beautiful PDF to read later! You will also get access to my popular Interesting Times newsletter where I share links to similar articles, tools and lots more. One of the most frequent questions I get from readers is “How do I win at Russian Roulette?” I’m sure you can relate. You’re standing in the dairy aisle at the grocery … [Read more...]
Priority Management: How to Prioritize Tasks and Keep Your Life in Balance
“Plans are useless, but planning is indispensable.” Dwight Eisenhower One of the primary frameworks I use in my work is something I call the business production function. It’s a diagnostic tool that lets me quickly look at the four big categories of business and asks: which one of these is the current limit? Which of these, if improved, will make the biggest impact on the … [Read more...]
A Blockchain Explanation Your Parents Could Understand
Shrek: Ogres are like onions. Donkey: They stink? Shrek: Yes. No. Donkey: Oh, they make you cry. Shrek: No. Donkey: Oh, you leave em out in the sun, they get all brown, start sproutin’ little white hairs. Shrek: No. Layers. Onions have layers. Ogres have layers. Onions have layers. You get it? We both have layers. Donkey: Oh, you both have LAYERS. Oh. You know, not everybody like onions. … [Read more...]
The Paint Drop Method for Figuring Out What To Do with Your Life (and Becoming the Best in the World At It)
Horace Mann, often credited as the father of the modern education system, began opening The Common School in the 1830s. The purpose of the Common School was to teach students how to follow directions effectively so they would be prepared for factory work. A few years after the first Common School opened, Mann couldn’t find enough “normal” teachers to help make the students “common.” So, Mann … [Read more...]
The 3 Laws of Marketing: Why Nobody Buys Your Sh*t
In his book, Average is Over, economist Tyler Cowen argues that marketing, not STEM fields is the most important skill set for the future. “It might appear that a masseuse is not much affected by computers, at least provided you are skeptical about these robots that now offer massages. Nonetheless, masseuses increasingly market themselves on Google and the internet. These masseuses fit the basic … [Read more...]
The Best Intermediate-ish Crypto Resources
In my post on the Getting Started With Cryptocurrency, I laid out what I would recommend as a 101 curriculum from understanding Bitcoin and cryptocurrency technology. Consider this the 201 list. I’ll start with long-form articles and series, then more academic papers and finish with project-specific whitepapers. Longform Articles Fundamental Challenges With Public Blockchains by … [Read more...]
The Business Production Function: A Framework for Growing Early Stage Ventures
What is the optimal business strategy for your company? What is the next project you should work on? The answer, of course, is “it depends.” Your business strategy is dependent upon the stage of the business, it’s industry, and macroeconomic factors outside your control. But, I think that there are frameworks that can help you figure out the next step. The framework I've found most helpful … [Read more...]
How to Unlock Your Creative Potential
Over the course of our lifetimes, the size of multinational businesses will approach that of small, local businesses. On its face, this may sound like a somewhat mundane statement, but the implications for our lives are no less significant than the shift from a manufacturing-based industrial economy to a services-based knowledge economy in the 20th century. Over the last fifty years, people … [Read more...]
Three Focus Failures and How to Avoid Them
In my last article, How To Get Focused for 2019, I covered three reasons that people fail to stay focused on goals they set for themselves: The first was not defining those goals with enough precision to let me execute on them. The second was being paralyzed between the need to implement fast, to launch my work, and to be strategic, to consider what work was worth launching and at … [Read more...]
How to Get Focused for 2025
Most people start their year imagining it will look like this: You have the big thing which you are going to make a ton of progress on. You are going to finish the book.You are going to get the promotion.You are going to launch the project.You are going to 10x the business. It’s exciting. There are big changes in store! At the end of the year, most of those same people look back and the … [Read more...]
Will Smart Contracts Eat the World?
In 1994, Nick Szabo, a legal scholar and computer scientist, coined the term “smart contract” to describe the ability to embed contracts, a legal construct, into computer code. With the emergence of a blockchain ecosystem, the excitement around smart contracts has picked up. In this article, I’m going to explore what smart contracts are and why it’s valuable to combine them with blockchain … [Read more...]
What is a Security Token? A Comprehensive Guide to How They Work and Their Impact
There’s been a lot of talk about security tokens recently. But what is a security token in the first place? How do they work? And how might they impact your job or business? That is, why should you care about them? Before diving into the rest of these questions, it makes sense to first start with: what is a security? A security is a fungible (mutually interchangeable) financial instrument that … [Read more...]
State of Bitcoin (Fall 2018)
There’s a lot going on in the world of Bitcoin and it can be hard to keep track of it all. This report aims to offer market participants looking for a one stop shop regarding the current state of Bitcoin. We cover valuation, technology, regulation/legal, and different ways of getting exposure. This is not meant to read cover-to-cover so if one section is of particular interest, please feel free … [Read more...]
Cryptocurency and the Turkey Problem
In an op-ed for the New York Times, economist Paul Krugman wrote that “cryptocurrency enthusiasts are effectively celebrating the use of cutting-edge technology to set the monetary system back 300 years.” In Krugman's view, the sweep of monetary history has been one of increased efficiency by a transition away from commodity money (e.g. gold and silver) towards fiat money (e.g. the US dollar). … [Read more...]
When Will Crypto Crash (Again?)
When will bitcoin and the broader crypto market crash (again)? Or crash farther? I think the place to start thinking about this is why are crypto markets so volatile in the first place. Perhaps more importantly, is that volatility a bad thing? I believe there are a few reasons for all the volatility in crypto markets. We’ll start with the most obvious ones and work our way to the least obvious, … [Read more...]
Blockchain Explained: How Does Blockchain Technology Work?
This is a long article answering the question "How Does Blockchain Work?" to a non-technical reader. You can download a PDF version of this post below. The first blockchain was conceptualized by an individual (or group of individuals) known as Satoshi Nakamoto in 2008. It was launched the following year in January 2009 by Nakamoto as a core component of the cryptocurrency Bitcoin, where it … [Read more...]
The Ultimate Guide to Apprenticeships (Or How To Find Your First Remote Job)
Over the last decade, the internet has increased the flexibility in where and when we work. Remote work has become increasingly common across many different industries. Companies appreciate the cost savings of not having to have an office and the ability to hire globally instead of just locally, and individuals appreciate the increased flexibility and potential number of employers, with entry … [Read more...]
What Gives Bitcoin Value? Or The Most Important Idea In Cryptocurrency
Short version: Social scalability is the core idea behind what gives bitcoin value and makes it such a powerful and important technology. “It is a profoundly erroneous truism, repeated by all copy-books and by eminent people when they are making speeches, that we should cultivate the habit of thinking what we are doing. The precise opposite is the case. Civilization advances by extending the … [Read more...]
How to Stop Procrastinating Using the 70% Rule
“Whenever you feel that some situation or some person is ruining your life, it is actually you who are ruining your life…Feeling like a victim is a perfectly disastrous way to go through life. If you just take the attitude that however bad it is in any way, it’s always your fault and you just fix it as best you can — the so-called “iron prescription” — I think that really works.” — Charlie … [Read more...]
Complexity Science: A Basic Explanation (with examples and resources)
Developing a basic understanding (and a sense of intuition) around how complex systems and complexity science work may be the most important things I’ve learned and it's deeply impact my thinking. What is Complexity (Science)? Before we talk about complexity science, it's important to understand how the term complex is used. A complex environment is one where cause and effect are impossible … [Read more...]
Why the ‘Worst’ Crypto Networks Will be the Biggest
Though crypto networks are often compared to private firms, a better analogy is to compare them to cities. Like a city, a crypto network is a community of loosely affiliated individuals who agree on a set of rules for how they live and work – laws for cities, protocols for crypto networks. Unlike firms, cities and crypto networks are organized from the bottom up rather than the top … [Read more...]
Why Apprenticeships Matter
In my book, The End of Jobs, one of the paths that I talked about for people trying to get started in entrepreneurship was to find an apprenticeship. Put simply, an apprenticeship is a paid job that prioritizes your learning and long-term career trajectory by working with established entrepreneurs to develop a valuable skill set and business relationships. By taking on an apprenticeship, you get … [Read more...]
12 Books That Make You Think
I love a “best books” list as much as the next person, but one of the things I’ve learned over the last few years is that there is no objective best book. Everyone is at a different point in their lives and brings their own culture, family, life experience and reading background. The books that make you think today may not even make sense to me (or vice versa). Though there is … [Read more...]
Blockchain Supply Chain Use Cases: A Multi-Trillion Dollar Opportunity?
TL;DR There are a few blockchain supply chain use cases which have the potential to restructure the industry. One particularly impactful use case is making it easier for small suppliers to get more financing on better terms. Most of the blockchain applications emerging right now are effectively porting existing solutions onto the blockchain (Uber for the blockchain, Airbnb for the blockchain, … [Read more...]
The Best Longform Articles I Read In 2017
Though many argue that the internet is lowering the quality of conversation and devolving into mere soundbites, I read a swath of incisive and thoughtful longform articles and essays in 2017. It seems more accurate to me that content on the internet seems to be a barbell with both more high quality and low quality content. One side of the barbell may be a sea of “9 Things No One Tells You About … [Read more...]
Why Is Bitcoin Valuable ?
On almost every dimension, Bitcoin is worse than its centralized counterparts like Paypal or Chase. This is true not just of bitcoin but almost all decentralized cryptocurrency protocols. They are slower, more expensive, harder to scale, and offer worse user experiences. So why is bitcoin valuable? Why are other decentralized applications valuable? Transactions on the Bitcoin network are … [Read more...]
The Best Books I Read In 2017
2017 was my best reading year yet. It was also the first year I didn’t set a reading goal. I noticed a tendency in myself when I had some arbitrarynumber of books to read that I tended to pick out the shortest and lightest books and avoided the longest and densest ones. I committed instead to reading an hour per day and tackling whichever books I thought would most impact my thinking. This … [Read more...]
Will Cryptocurrency Protocols Be Fat or Thin?
Some are thin. And some are fat. The fat one has A yellow hat. Dr. Seuss — One Fish, Two Fish, Red Fish, Blue Fish Joel Monegro’s fat protocol thesis is one of the most important ideas for understanding cryptocurrency. Published in 2014, the thesis states that, on the web, value accrued to the application (app) layer: companies like Facebook, Google and Amazon. While … [Read more...]
The State of Cryptocurrency Investing: End of 2017 Edition
I attended the 2017 Consensus:Invest conference to try and get a feel for the current state of the cryptocurrency market and how it was being perceived by the finance industry. It gave me a good picture of current state of the market, so I thought I’d publish my notes on a few of the panels here. TL;DR (Or Major Themes) There is a generational gap — This is the first conference I’ve … [Read more...]
Bug Out Bag Essentials for Reasonably Rational People
I don't want the backstory, just show me the list of bug out bag essentials In 2011, I lived with Mimi in her home in Córdoba, Argentina. About two months after I moved in with Mimi, I was sitting across the table from her, listening to her explain the Argentine peso devaluation that had happened in 2001. In the 1990s, the Argentine peso was pegged to the U.S. dollar. That meant the Argentine … [Read more...]
You Want Democracy? Try A Hard Fork
Commentators often try to compare the current stage of the cryptocurrency ecosystem to the internet years. But are we in 1990? 1995? 1998? An equally valid comparison is to ask where we are in democracy years. The United States, the first modern democracy, ratified the Articles of Confederation in 1781 following the end of the Revolutionary War. They served as the "operating system" of the … [Read more...]
How to Change Your Life using Punctuated Equilibrium
Charles Darwin’s On the Origin of Species is one of the most remarkable books ever written. It explained, for the first time and in plain English, the theory of evolution. In doing so, it shined a light on biology and the natural sciences, which laid the groundwork for many of the great discoveries of the twentieth century. More than that, it provided a metaphor for many other systems in the … [Read more...]
The Dark Side of Growth
If you want to grow a business quickly, the first step is to destroy it. When Howard Schultz bought Starbucks, it was a small, local coffee chain in Seattle that didn’t even have Espresso drinks. As soon he bought it, Schultz proceeded to destroy the business. On a trip to Milan, Italy he noticed coffee bars on practically every corner. In Italy, coffee bars were not like other drink shops, … [Read more...]
Four Books To Better Understand How Cryptocurrency Works
When we look at new technologies, our natural tendency is to project them onto the same paradigm we understand right now. When media companies looked at the internet, they initially assumed that it would just be another way for people to read the same content. And, indeed, the first media sites online looked much like their print counterparts. Yahoo!'s homepage in the 90's was not unlike the … [Read more...]
Kaleidoscope Thinking: How to Think Faster and More Clearly
Tl;dr Kaliedoscope thinking is how to think faster and more clearly. It is an increasingly important career skill and anyone can learn to do it by following a couple simple guidelines. Every year in late April or early May, Charlie Munger walks onto a stage in a large basketball stadium in Nebraska. He looks out at the crowd, usually around 40,000 people, gathered for the The Berkshire Hathaway … [Read more...]
Everything You’ve Been Taught About How To Read a Book Is Wrong
When I learned to read, I was focused on trying to consciously remember what each chapter was about after I finished it. Like most most people, most of the reading I did growing up was for school. The reason you read something for school is because there is a test. You test well by being able to hold a factual account of what happened in the book in your conscious memory. Over the … [Read more...]
How to Prioritize like a Billionaire
“Plans are useless, but planning is indispensable.” - Dwight Eisenhower In Justin Mares’ and Gabriel Weinberg’s book Traction Marketing, they offer a method for evaluating potential marketing opportunities called a bullseye analysis. A bullseye analysis is an expected value calculator for marketing channels and initiatives. The way it works is you enter some guesstimates for different … [Read more...]
The State of Cryptocurrency: 2017 Edition
I went to the 2017 Blockstack Summit to try and get a feel for the current state of the cryptocurrency technology and market. Many of the people I follow in the cryptocurrency space were either attending or speaking, including Naval Ravikant, Nick Szabo and Balaji Srinivasan. It gave a good overall picture of current state of the technology, so I thought I’d publish my notes on a few of the … [Read more...]
The Ultimate Guide to the OODA Loop
TL;DR The OODA loop was a tool developed by military strategist John Boyd to explain how individuals and organizations can win in uncertain and chaotic environments. It is an Acronym that explains the four steps of decisions making: Observe, Orient, Decide Act. This article will give you the understanding you need to turn ambiguity into advantage and risk into results in your career, … [Read more...]
How to Get Into Cryptocurrency: The Best Cryptocurrency Resources
I was getting started with cryptocurrency in 2012 when I first heard about Bitcoin. I didn’t “get it.” Terms like decentralized, distributed and disintermediation piqued my interest, but I lacked the technical understanding to really understand what I was looking at. I needed a class in cryptocurrency 101, some help getting started with cryptocurrency. I started reading up in 2015, wading … [Read more...]
Why History’s Greatest Innovators Optimized for Interesting
I love Derek Siver’s question: “What are you optimizing your life for?” For the last few years, my answer has been “interesting.” I always felt sort of dumb for saying that, but then I read a paper called Driven By Compression Progress. The paper looks at humans as information processing machines that are compressing information to make themselves more efficient. Compression is the ability to … [Read more...]
The Truth about How Creativity Really Works
Maybe that’s enlightenment enough: to know that there is no final resting place of the mind; no moment of smug clarity. Perhaps wisdom…is realizing how small I am, and unwise, and how far I have yet to go.”Anthony Bourdain On March 20, 1997, a quiet crowd settled into the Old Post Chapel at Arlington National Cemetery for the memorial service of Colonel John Boyd. John Boyd was a fighter … [Read more...]
How to Discover Your Core Values List (and Use Them to Make Better Decisions)
TL;DR Making a core values list takes 15 minutes and will help you make better decisions. Note: If you’d like to skip straight to the full list of personal values, click here. Have you ever been faced with a difficult decision and not known which direction to take? Have you ever spent days or weeks or months going back and forth on a decision? You start with “Yes I will do it,” then “no I … [Read more...]
Lessons on How to Amass Power, Get Things Done, and Be Eaten Alive
Robert Moses may be the most influential historical figure you’ve never heard of. Moses was the master builder of New York. If you’ve ever set foot in a major city, he’s affected your life. He built more infrastructure than any individual in modern history. To name a few of his works, he built Shea Stadium, Lincoln Center, Jones Beach, the United Nations headquarters in New York, the Henry … [Read more...]
7 Essays That Will Help You Succeed In Internet Business
Communities can maintain themselves based on intimate acquaintance up to groups of about 150 people, often referred to as Dunbar’s number. However, once a group passes this number, social dynamics change. You can’t run a thousand-person business the same way you run a one hundred-person business. You can’t run a one hundred-person business the same way you run a ten-person business. And you … [Read more...]
A Brief History of Existential Terror
[M]ental health is based on a certain degree of tension, the tension between what one has already achieved and what one still ought to accomplish, or the gap between what one is and what one should become.” –Viktor Frankl The healthy state of humans is mild existential terror. In Frankl’s words, “a certain degree of tension.” For 99% of human history, this was true not in the … [Read more...]
The Safety And Sanity Of Entrepreneurship [TEDx Talk]
Two months before their annual event in Hickory, North Carolina, I had the honor and pleasure of being invited to present some of the core concepts from The End of Jobs as a TEDx talk. It took me the full two months to rework the book into a concise 15-minute presentation. In the talk, I cover: What entrepreneurship really means Why the reaction of “I have no idea what I’m doing" is a … [Read more...]
The Illegible Margin: Profiting From The Gap Between The Map And The Territory
Margin, in a strict business sense, is the difference between how much you can sell a product for and how much it costs to produce. In a more general interpretation, margin refers to the edge of something, the amount which something falls short of or surpasses another item. You can build margin into your day by leaving a gap between your scheduled meeting and tasks so that you have room to … [Read more...]
Learning How to See
Should I Start A Blog? Last week, I convinced two people to start blogs. Any week I convince someone asking "should I start a blog" is a good week. I finally realized why I try to convince people to start blogs after I heard Seth Godin talk about blogging in terms of "learning how to see." That's it: blogging teaches you how to see. The most common response when I tell someone to … [Read more...]
Go West: How The Frontier Makes All The Difference (A 5 Year Retrospective)
TL;DR: I started this site five years ago this month. This is my story, and a reflection of what’s happened since, with some musings for those wondering “what career is right for me”. “Washington is not a place to live in. The rents are high, the food is bad, the dust is disgusting and the morals are deplorable. Go West, young man, go West and grow up with the country.” - Horace … [Read more...]
A Simple Marketing Campaign Checklist
Tl;dr: There are five marketing questions you must answer before you launch a marketing campaign: I’ve put together a brief worksheet that you can download by entering your email below. One commonality I’ve noted when talking with, working with and observing successful investors is that they all have a checklist. It’s always very short, no more than half a dozen things. … [Read more...]
The Overton Window and How Creative Business Ideas Arise
Tl;dr: The way to have creative business ideas is to live on the edge of the Overton Window. "If you would be a real seeker after truth, it is necessary that at least once in your life you doubt, as far as possible, all things" - Rene Descartes When Muhammad Ali died, he was lauded as a great American, a great athlete, a great man. Bill Clinton, Billy Crystal and Bryant Gumbel offered … [Read more...]
The Best Morning Routine (Backed by Science)
Early in his life, Benjamin Franklin, one of the primary framers of the American Constitution, outlined his best morning routine: “...I rise early almost every morning, and sit in my chamber without any clothes whatever, half an hour or an hour, according to the season, either reading or writing.” In Franklin’s Autobiography, he elaborated he would “rise, wash, and address Powerful … [Read more...]
Speed of Implementation and The Law of Shitty Click Throughs
My favorite movie on marketing is You’ve Got Mail with Tom Hanks and Meg Ryan. The movie teaches one of the most valuable marketing lessons I've learned: what happens when speed of implementation meets the law of shitty click throughs. All you need to know about the movie is this: in 1998, people were excited to get email. Marketers who were using email marketing in 1998 often saw 90% … [Read more...]
The 70% Rule: How to Move Fast and Break Things (and why you should)
“Unless you are breaking stuff, you aren’t moving fast enough” — Mark Zuckerberg Zuckerberg’s line is the most well-known example of a common piece of advice on how to get ahead at work or how to get ahead in life more generally: “move fast.” There is a tradeoff: move fast and break things or move slow and don’t break things. There is no move fast and don’t break things. If the answer is … [Read more...]
Fingerspitzengefühl: What Elite Tank Commanders, Chess Grandmasters, and Entrepreneurs Have in Common
What do the world’s foremost tank commanders, chess grandmasters, and SaaS entrepreneurs have in common? What are the shared attributes of people who have achieved mastery across different domains? How to become an expert in your field? Likely you’ve heard the cliched advice: work hard, work smart, be passionate, etc. Here’s one you probably haven’t heard that’s actually more … [Read more...]
The Unlikely True Story of Ingeborg Francesca Jurkutat
In the fall of her twenty-second year, Inge sat down to rest. She felt the warmth of the rock beneath her, and lay back to let the sun shine down on her. She fell into a peaceful sleep. Twenty minutes later, a friend with whom she had been hiking, came back and woke her up. “Inge,” she said, “you must keep going. If you stay here, you will die." She, along with a … [Read more...]
The Subtle Art Of Reaching Your Potential
If you’re trying to reach your potential, when should you double down on your strengths and when should you mitigate weaknesses? One view as it relates to reaching your potential is that “if you work on your weaknesses you'll end up with a lot of mediocre weaknesses.” This is terrible policy. You can do fine in life if you are really good at math and just passable at English. Or exceptional at … [Read more...]
How to Get Lucky: Focus On The Fat Tails
There are at least two overarching mental models for looking at the world: One could be called the bell curve and the other, the 80/20 curve. When I was marketing my book, The End of Jobs, I spent a week sending personal emails (in Gmail, one by one, not in bulk) to two hundred people who I thought could potentially be in the top 1% of my readers, the people most excited about the book. In … [Read more...]
How (And Why) To Find An Online Mastermind Group
If you’d like a copy of the documents I use to run my mastermind, you can download them by entering your email below An online mastermind group is a small number of trusted advisers who meet regularly with the goal of improving each other’s lives or careers. The collective brainpower of the group—otherwise known as a “mastermind”—is turned towards a single problem. A mastermind … [Read more...]
6 Essential Insights on The Future from Warren Buffett and Charlie Munger
At the end of the Berkshire Hathaway Shareholders Meeting, Warren Buffett was asked by a CNBC correspondent what he saw as the biggest threat to the company’s future. He replied “CNBC is the greatest threat to Berkshire — that is, a Chemical, Nuclear, Biological, or Cyber attack.” Beyond being a clever jab at the CNBC News correspondents who had been trying to get a sound bite out of him … [Read more...]
How to Overcome Your Fear of Failure with The Bucky Method
On a snowy day in late 1927, a young corporate executive looked down past his toes, past the trusses of the bridge he was standing atop, and stared into the choppy waters of Lake Michigan. Earlier that year, his first daughter had died and he had lost his job as president of a building company. For years, he had been plagued by a fear of failure and now it had all come true. He had no job, no … [Read more...]
How To Plan Your Ideal Day
tl;dr: Learn how to plan your day and get organized. “How we spend our days is, of course, how we spend our lives. What we do with this hour and with that one, is what we are doing.” – Annie Dillard How do we do our best work? There are two elements to understanding how the best work is done. First, there is identifying and understanding our personal strengths – finding the work only we can … [Read more...]
The Real Truth About How to Work Smarter, not Harder
Whenever you feel like you’re not getting enough done, you probably always turn to the same solution: working harder. Yet, you’ve probably heard the saying that you should “work smarter, not harder” which sounds great, but how do you actually work smarter? Why Working Harder isn’t the Answer The reason most people work harder is that it’s the most visible form of productivity. It’s extremely … [Read more...]
How to Improve Your Mindset
“New metaphors are capable of creating new understandings and, therefore, new realities.” -Lakoff, George; Johnson, Mark. Metaphors We Live By How many times have you heard some platitude that translates to “improve your mindset?” I get why people give this advice. I can point to certain mindset shifts that have had a profound impact on my quality of life and would like … [Read more...]
The Work: What a Philosophy Professor and Strength Coach Can Teach Us About Our Careers
At 28, Will MacAskill is likely the youngest tenured professor of philosophy in the world. His success is made more impressive by his position at Lincoln College, Oxford. As someone that considered getting a PhD in the humanities, I was talked out of it by the number of people I met who were holding out hope to get an adjunct position at Spokane Community College - much less a tenured one at … [Read more...]
Effectual Reasoning: The Little Known Method Entrepreneurs Use to Figure Out What They Want
Man has suffered another loss in his more recent development inasmuch as the traditions which buttressed his behavior are now rapidly diminishing. No instinct tells him what he has to do, and no tradition what he ought to do; sometimes he does not even know what he wishes to do. Instead, he either wishes to do what other people do (conformism) or he does what other people wish him to do … [Read more...]
Why Product Market Fit is Overrated (and what to focus on instead)
Two years ago, I was looking for a new project. I had read all the books on product market fit and finding your niche. I had grown a B2B eCommerce by over 500% in the last two years, so I was at least competent at marketing. Great, I thought, marketing is the product then. I understood the importance of operating in fast growing markets, that a small market which was rapidly … [Read more...]
Disintermediation and Selectorate Theory
Pursuing the perfect world for everyone is a waste of time and an excuse for not doing the hard work of making the world better for many." -Bruce Bueno de Mesquita and Alastair Smith. The Dictator's Handbook: Why Bad Behavior is Almost Always Good Politics Robert Rizzo served as mayor of the city of Bell, California from 1993 to 2010. When he left his office in … [Read more...]
Hunt Your Sacred Cows: trend recognition for fun and profit
“The first principle is that you must not fool yourself — and you are the easiest person to fool.” – Richard P. Feynman I’ve gone deer hunting three times. I am a bad deer hunter. I usually listen to audiobooks and fall asleep in the deer stand. The only time I saw a deer was because the deer’s hoof stepped on a fallen branch that cracked very loudly and woke me up. I was so surprised that … [Read more...]
My Ten Most Influential Reads of 2015
2015 was my best reading year yet. Partially because I discovered a handful of authors and influential books I expect I'll be tracking for years to become. However, my biggest reading win was that I broadened my perspective from the business-book-only approach I took in 2013 and 2014 to a lot of adjacent domains: writing, investing, science, finance, sociology, and military strategy … [Read more...]
Antifragile Planning: Optimizing for Optionality (Without Chasing Shiny Objects)
Planning timelines have been getting shorter and shorter across every industry over the last couple decades. Companies that used to make ten-year plans now make five-year plans. Companies that used to make five-year plans now make three-year plans. Slowly, individuals and organizations are giving up the Luddite Hope - “that it is possible to enjoy the benefits of non-zero-sum … [Read more...]
8 Ways to Read 60 Books A Year
I read 60 books last year and am on pace to do about the same this year. Most people wish they could know how to read more often, probably because we’re reading less each year. In a 1978 survey, 42% of adults had read 11 books or more in the past year, and 13% said they had read more than 50. In a 2014 study, Pew found that just 28% hit the 11 book mark and only 1% had … [Read more...]
Jesus Marketing: How I Sold 5000 Books in Four Weeks As a First Time Author (With Less Than 700 Email Subscribers)
In January of 2015, I wrote an article on How and Why I’m writing a book in 2015. In July of the same year, I released that book, The End of Jobs. Here’s a brief breakdown of what happened in the first six months of the book's life: 5000 copies sold in the first month (Over 30,000 copies in circulation within six months) #1 Amazon Best Seller in the Kindle Business and Money Category. … [Read more...]
The First Job Dilemma (Or Welcome to The Hyper-Meritocracy)
There was a kilo of white powder resting in a plate on the kitchen table. An empty cigar tube rested next to it. Judging by the grooves, the tube had been used to rake the powder to resemble a mini zen garden. I walked through the living room and opened the sliding door onto the balcony. Looking down from the skyline, an infinity pool stretched to the edge of the floor below. I had … [Read more...]
The Margin Matrix: Why successful people are usually wrong
There is a difference between correct/incorrect and right/wrong decisions, and over the long run it’s much more important to be correct than right. I discovered this framework in What I Learned Losing a Million Dollars by Jim Paul and Brendan Moynihan. The correct/incorrect distinction is based on the Expected Value (EV) of the decision. Right/wrong is based on … [Read more...]
Get on the Plane: You Become What You Do at the Margins
Gazing at the greasy moulding wrapping the restaurant ceiling, I yelped out a “Yes!” The waitress jumped, spilling coffee over herself and, as is karmically appropriate, me. A pair of white earbuds were dangling from my ears as I listened to the How to Start a Startup podcast when Y Combinator’s Sam Altman remarked: “Great founders get on planes in marginal situations.” I stammered out an … [Read more...]
The Retirement Catch-22: Why Those Who Want to Retire Most, Can’t
“To be prepared against surprise is to be trained. To be prepared for surprise is to be educated.” - James P. Carse, Finite and Infinite Games A little while ago, I was at a chapel service at my old elementary school. I was there for a speech my nephew was making. As I watched them proceeding in, what struck me was how industrial it felt—not unlike a prison. If you swapped the … [Read more...]
The End of Jobs Book Summary (Audio and Video Included)
What's been the value of The End Of Jobs so far? Money? Authority? Connections? Recognition? The experience of writing? That was the conclusion to an email a friend sent me last week. In truth, I'm still not sure what the full implications are, but my ego thinks it’s all been pretty cool. My hope was to sell five thousand copies by the end of the year. Thanks in large … [Read more...]
My General Operating Principles: 37 Principles for Making Hard Decisions
“Jeez, man, that motorbike almost ran you over!” I gave a perfunctory wave to the British backpacker, acting as if crossing a busy street in downtown Saigon without looking was normal behavior and strolled on. The Vietnamese office worker turned his head back at me and glowered before rolling his right wrist back and accelerating away on his red and black Yamaha Nuovo. The white cord of my … [Read more...]
The Work and The People
It was around 10:30pm. By the time I got to the end of the third page, I knew I wasn't going to sleep until I finished the book. It started with a bang. Most of us have two lives. The life we live, and the unlived life within us. Between the two stands Resistance. It didn't let up. At eighteen [Hitler] took his inheritance, seven hundred kronen, and moved to Vienna to live and study. He … [Read more...]
We’ve Reached The End of Jobs
Click Here to Buy The End of Jobs. The book was sh*t. My career was toast. My business was hosed. The best case scenario was that everything was completely screwed. We all have our coping mechanisms. Pizza, ice cream, and almond butter are mine. I had attempted taken a risk. It wasn’t going to work out. That was how I felt one rainy Wednesday in early April. It was a feeling … [Read more...]
An Entrepreneur’s Library: Business Books I Find Repeatedly Useful
“You will be the same person in five years as you are today except for the people you meet and the books you read.” – Charlie Jones I have no formal business credentials nor have I taken a single class on business in my life. My business education has been a combination of my own experiences and the books I’ve read. I am continually amazed by, and grateful for, all the authors who have written … [Read more...]
A Single Word Summary of 188 Books on Entrepreneurship
“Thank God for the French Army” Churchill announced confidently in early 1939 to the British people. The Maginot Line, established along the French/German border, mirrored the same strategy that kept the Germans out of Paris for the length of the First World War. Equipped with state-of-the-art fortifications, it was impenetrable from tank attacks and air raids. A few months later, … [Read more...]
Crafting Marketing Meta Narratives (Or Why I’m Giving Away 339 Hours of Work For Free)
“Well. I guess I’m giving it away for free.” I’d just gotten off the phone with a friend to talk about the marketing plan for The End of Jobs. I glanced at my writing tracking spreadsheet and looked at how much time I had invested in the project. Three hundred and thirty nine hours, not including the marketing or editing time. I’d been planning on … [Read more...]
Illegible Currency Arbitrage: How to Optimize for What Matters, Not What You Can Measure
I read an article by Bob Parsons, the founder of GoDaddy, when I was 18 where he emphasized that “whatever you measure gets managed.” At the time, I'd never thought about it. In the time since, it's rung true for me and almost everyone I’ve ever worked with. If you measure something and stick it in front of your face every day, it will always improve. I keep a Key Performance dashboard … [Read more...]
The Taboo Productivity Trap: On Dealing with Blah-ness
By far the most difficult skill I learned as CEO was the ability to manage my own psychology. Organizational design, process design, metrics, hiring, and firing were all relatively straightforward skills to master compared with keeping my mind in check. I thought I was tough going into it, but I wasn’t tough. I was soft. Over the years, I’ve spoken to hundreds of CEOs, all with … [Read more...]
4 Strategies To Find The Work Only You Can Do (And Why It’s More Profitable Than Ever)
Every monopoly story has its inspiringly inauspicious beginnings. The JP Morgan Bank started with JP Morgan’s father, Junius, working as a clerk for a now unknown merchant banker, George Peabody in mid-19th century London. Standard Oil started with John D. Rockefeller ensconced in the corner of the Hewitt and Tuttle, pouring over the books, “delighting in all the methods and systems of … [Read more...]
Nine 80/20 Principles for Entrepreneurs Learned From Writing a Book
Paul Erdos, perhaps the most prolific mathematician of the 20th century, was an eccentric. Crisscrossing the globe and living out of a pair of suitcases stuffed with tattered suits, he never learned to boil water to make his own tea, insisting that whoever's company he'd foisted himself into rise at 4am to brew him tea so he could go to work. Even during meals, he worked furiously, … [Read more...]
The Commoditization of Credentialism: Why MBAs and JDs Can’t Get Jobs
“It’s Never Been Worse to Be Information Smart Than It Is Today” - Gary Vaynerchuk at SXSW, 2014 Megan Parker is a the receptionist at a law firm with a bachelor’s degree and over $100,000 in student debt. Stories like Megan's at this point are becoming cliche and cookie cutter: middle-class kid goes to good University attempting to realize economic earning potential, only to find … [Read more...]
To You Who Wants More Freedom
“There is only one success - to be able to spend your life in your own way.” - Christopher Morley "Upon graduation, my primary driver was freedom. I remember thinking that at the time. I would like to be anywhere, anytime I wanted and have a lot of money." That’s an excerpt from an interview I did after finishing The End Of Jobs. After I heard it, I nodded and thought, “Yep, sounds good to … [Read more...]
Welcome to Extremistan. Don’t Be a Turkey.
That aunt and uncle that you haven’t talked to in five years are smiling. A pair of dark spaces fragment their not-so-toothy grins. Your parents are smiling. You’re wearing a medieval-styled dress with colored sashes covered in Latin. You can feel the pride and excitement in the air. The promise of the future. You ascend the raised platform and walk across the stage, deftly hiding … [Read more...]
Asset Thinking: How Do You Invest In Entrepreneurship?
“When in doubt, create assets.”- Anon. quoted in Tim Grahl, Your First 1000 Copies “The entrepreneur shifts economic resources out of an area of lower and into an area of higher productivity and greater yield.” - Jean Baptiste Say “He just hasn’t turned the corner yet. It hasn’t clicked and until it does, he’s not going to do the quality of work he's capable of. What was … [Read more...]
How To Start Writing A Nonfiction Book: The Exact Process for Writing a Bestseller
“What is going on?” My head tilted to the side, mouth wide as if to emphasize my inability to explain. “I don’t know. No one’s articulated it, you just gotta show up.” I was eating an omelet and drinking coffee at 8am Wednesday October 22nd at the A2 cafe in Bangkok. “Yeah, you do.” “When people understand this, it’s going to change everything.” “Yep.” We nodded and … [Read more...]
Ever Think, “I Feel Stuck?” Escape From Hintergedanken Purgatory
My eyebrows raised towards the ceiling, my head leaned back, and my stomach dropped down to sit squarely on my pelvic bone. I leaned back into the broken arm of the green couch I'd picked up on Craigslist at the beginning of the semester. A chuckle and a smile were all I could muster. There's a shit-hitting-the-fan inflection point where all I can do is laugh. Everything is so terrifically … [Read more...]
3 Steps to Prioritizing Your Reading
How often have you said: “No I haven’t read it. I’ve been meaning to though!” I started making a list of books to read my junior year in college in Evernote. “What a useful tool. I’ll start a list of books to read here and just delete the note after I’ve read them!” As of last night, that list is now sitting at a cozy 527. I was doing my New Year planning this week and … [Read more...]
The Annual Review: How I Get Clarity, Confidence and Conviction In My Life and Business
Note: This essay has been updated. Please see the update here. As Dilbert gracefully notes, annual corporate reviews ain't so grand. There's something about the arbitrariness of it that makes it feel cheap and disingenuous. Yet, there’s always a round-up of blog posts at the end of the year where entrepreneurs I admire sit down and go back and review their businesses and progress over the last … [Read more...]
Identity Based Decision Making: How Your Identity Makes You Wealthy
The muscles in her face contracted and distorted into a howling grimace. Unable to bear the sight, she wrenched her head to the side and began to sob. The mirror bounced once on her hospital bed then crashed to the floor. Her mother, instincts engaged, rushed to comfort her. Her father and sister, standing bewildered beside her hospital bed, looked at each other, the creases of worry on their … [Read more...]
Going All In: The Ignorance of Diversification in Life and Entrepreneurship
A few major opportunities, clearly recognizable as such, will usually come to one who continuously searches and waits, with a curious mind that loves diagnosis involving multiple variables. And then all that is required is a willingness to bet heavily when the odds are extremely favorable, using resources available as a result of prudence and patience in the past. - Charles T. … [Read more...]
Thinking in Limits: Two Simple Questions for Becoming a Better Entrepreneur
In April 1916, Robert Updegraff published his first ever article in the Saturday Evening Post. Titled “Obvious Adams: The Story of a Successful Businessman,” the article was converted into a book and heralded by the New York Times as “the handbook for the young man who is going to seek his fortune in the advertising business.” Jack Trout, author of the New York Times … [Read more...]
Mountain Top Blogging: A Framework for Life Changing Blog Posts
“That’s bullshit, you’re hiding something. You're holding back.” Cheap pendants rattled and glittered around the belly dancer's waist. A valiant, if perhaps misplaced, attempt at adapting an ancient art form to yet another 90’s song on display at the back of the open air hookah lounge. A thick puff of thick, lemon-infused cloud of smoke drifted through the warm, moist evening … [Read more...]
The Entrepreneur’s Weekly Review
Ever get the feeling nagging at the back of your head that there’s something you’re supposed to do, but you can't remember what it is? Or you know you're supposed to ask something specific to the person you're talking to? Or you've got so many open loops in that you aren't sure what the logical next step is? I used to. I don't very much anymore. I've always been a bit of the absent minded … [Read more...]
Location Leverage: 10X Your Location Independence
'Location Independent' as Sustainable Competitive Advantage Duh, Duh, Duh. Duh, Duh, Duh. I throw a pillow over my head even though I know it’s useless. It’s 7am on Saturday in Vietnam and that means jackhammering time. I hear the beep-beep of the motorbike horns outside now. Saigon couldn't care less I spent 2 hours tossing in bed last night. I run through my morning ritual and … [Read more...]
The Fourth Economy and The Future of Work
I read a fair amount and it's usually only a book a year that noticeably shapes my thinking years into the future. In 2012, that book was The Fourth Economy. When I met with the author, Ron Davison, I told him it influenced my thinking more than anything I’d read since the Communist Manifesto at 18 which lead to 3 years of my life chasing rabbits down socialist, ideological tunnels. Gracious … [Read more...]
The Rise of the Practitioner-Publisher
I was sitting outside a wine bar with some friends a few weeks ago and we were going around the circle answering the question - "what are you most excited about right now?" "Online publishing!" I blurted out. Peter Thiel poses the question in his new book Zero to One- "What important truth do very few people agree with you on?" While I think the secret about online and self-publishing is out, I … [Read more...]
The Path to Wealth and Power is Paved by Definition
The question is whether we will structure our consciousness or if someone else will. Those who are least powerful and least rich are those whose consciousness is structured for them. “Stay tuned” they are told, and they do. They rely on popular media for information and entertainment. At work, they are given defined tasks and processes. They depend on others to direct their attention. The … [Read more...]
Case Study: Growing a B2B eCommerce Business 527% in 18 Months
The Portable Bar Company is a B2B eCommerce company that sells portable bars (go figure) to business in the hospitality industry like event rental companies, hotels, and catering companies. I worked with The Portable Bar Company for 18 months beginning at the end of 2012 when the business had been in existence for a little over a year and was doing a steady but underwhelming level of sales given … [Read more...]
What is Optionality? How Can Optionality Improve My Performance?
Optionality is an idea advanced by Nassim Taleb in his book Antifragile. At the most basic level, optionality just means having lots of options. If you develop a skill with many possible job opportunities, you have more optionality than someone who develops a skill that only has one or two job opportunities. The advantage of optionality is that as the world grows increasingly difficult to … [Read more...]
The Entrepreneur’s Daily Ritual
We are what we repeatedly do. Excellence, then, is not an act, but a habit. - Aristotle By forming good habits, we can free our minds to advance to really interesting fields of action. - William James, quoted in Daily Rituals: How Artists Work I have an admittedly cultish obsession with personal productivity systems, daily habits to the point of staying up late reading about the daily … [Read more...]
The Joys of Missing Out (JOMO)
"You can have virtually anything you want, but you can’t have everything you want." - Ray Dalio "Our experience tends to confirm a long-held notion that being prepared, on a few occasions in a lifetime, to act promptly at scale, in doing some simple and logical thing, will often dramatically improve the financial results of that lifetime. A few major opportunities, clearly recognizable as … [Read more...]
9 Frameworks To Add a Few Hundred Thousand to Your Bottomline in 18 Months
I've spent a big chunk of my time and energy over the last 18 months working with Derek and Ian on growing the Portable Bar Company which is now about 2.5 years old. When I started working on the business at the end of 2012, we were having pretty consistent months, from our point of view, at a pretty low revenue number. Over the past 3 months, we're averaging over 6x that and the … [Read more...]
Business Education is an Oxymoron
In the last two years of working with small businesses, I'd say that I learn more in a typical day than I learned in a month of college. College is great for fun, but bad for learning. I would say all schooling is bad for learning. At least for learning things that matter. It’s great for learning stuff you can look up on Google like what years Kennedy was president of who was … [Read more...]
How To Read 60 Books a Year
Something that I get asked a lot is how I read so many books. People often want to know how to read more often. Last year I read 60 books and am on pace for about the same this year. I'm not going to win any contests but it’s a pretty good pace for me. I’m a subscriber to the voracious input, focused output theory of productivity. A book a week gives me more than enough to chew on … [Read more...]
Listen to What’s Being Whispered, not What’s Being Said
I don't watch a lot of movies, but I've re-watched Inception with Leonardo DiCaprio a few times. I've realized what draws me to the movie is that it illustrates an important concept: the power of whispering. DiCaprio's character leads a team of "invaders" who are able to enter into the subconsciously shared worlds with other people and implant ideas there that alter their real-world behavior. … [Read more...]
My Favorite Heuristic for Evaluating Relationships: The Antifragile Person
Six months ago, I found myself walking away from a coffee meeting at a cafe at the National University of Singapore feeling like a bit of a douche. The day before, I had been sitting in my apartment in Saigon, Vietnam scrolling down my Facebook feed when I saw that Nassim Taleb, author of Antifragile and The Black Swan, was going to be in Singapore. He had invited anyone … [Read more...]
What to Do When You Don’t Know What You Want
I drafted this post on Friday night at 7pm. I'm sitting in a cafe in San Francisco right now at around 6:30am on a Saturday editing it. I was going to go to the Giants' game Friday, but after walking around for a few hours with some friends, I sort of got that itch to work. Whenever I take time off, I always get that itch. The farther I get into entrepreneurship, the … [Read more...]
5 Mental Models To Create Dramatically More Leverage
Give me a lever long enough and a fulcrum on which to place it, and I shall move the world. -Archimedes How To Change The Way You Think I met up with Ron Davison last weekend and to talk about his book The Fourth Economy. One of the central concepts in the book is systems thinking. I'd never explicitly studied or read much about systems outside of a chapter in his book, but I sat down and … [Read more...]
Existential Terror is Just Another Term for Happiness
The most effective heuristic I've found for deciding what to work on is Steven Pressfield's concept of The Resistance. If I had to describe the Resistance in my own words, I would say it's a state of mild existential terror and discomfort. And I think that's how you should feel everyday. I fundamentally accept the premise that humans are at their best when reaching … [Read more...]
Why Cash is Worth Less Than You Think
Consider the framework that everything you have and everything you want in life is in simply a currency. It's something that you can exchange for another good or service. If we start from this framework that everything is a currency then we can map these currencies across a continuum of legibility. It might look something like this: More legible currencies are … [Read more...]
Scaling
How To Write A Standard Operating Procedure I read a post from Dylan Hassinger on a private entrepreneurship forum I'm a member of that compared business to software at some point last year. That analogy has stuck with me ever sense. I don't have a software background, though so I like to envision businesses as manufacturing machines. You put something in one end and then it goes through all … [Read more...]
Rip, Pivot, Jam – How to Work at the Limits without Dying
The best ROI activities are always at the limits, the riskiest parts, of any given system. This is why tech companies are so profitable and older established industries like gas stations aren't. It's not that risky to start a gas station. You pretty much know all the variables - how many cars are in a given area and their demand for gas. There's a lot more unknown variables for tech … [Read more...]
Change Your Location. Change Your Life.
Maxwell Maltz was a plastic surgeon in the. In the course of his career, he developed an interest in Cognitive Behavioral Therapy (sometimes known as Neurolinguistic programming). He noticed that a small fraction of his patients came back after undergoing major surgery and were still unhappy with their appearance. They had undergone a dramatic physical change as the result of … [Read more...]
Table Selection – When to Hold ’em vs. When to Fold ’em?
I saw a talk by Peter Keller, the founder of Fringe Sport, a functional fitness equipment provider, at a conference two weeks ago. Peter's talk covered some of the major mistakes he'd made and what he had learned from running Fringe Sport for the last 3 years. One of them revolved around the concept of what he called table selection. Table selection is a better and more … [Read more...]
The Black Box System
I'm always very hesitant to believe in causative theories for why things happen in complex systems. It's become so clear to me how good I am at rationalizing and creating patterns where none exist. I was listening to an episode of Planet Money and they gave the example of financial news. If the market is up, all the analysts go find very convincing reasons why. If the market is down they're able … [Read more...]
The Cat Furniture Problem
One of the concepts that's been on my mind since I finished reading Nicholas Nassim Taleb's book Antifragile a few months ago is the Lindy Effect: Taleb gives the example of cookware found in homes in Pompeii. At around 2000 years old - it looks remarkably similar to the cookware you'd see in any house around the world today. The fact that it's been around so long means … [Read more...]
A Purpose-Driven, Productive, Detouristified Life
I was laying in bed and watching a movie a couple of weeks ago. It was Saturday night around maybe 9pm. A friend texted me to see what I was planning on doing. I told her that I was probably going to bed. I sort of felt guilty. Maybe I should go out? I don't go out that much anymore. At most a couple of nights a week. If I do go out, at most I'll usually have 2-3 drinks and I'm pretty much … [Read more...]
Antifragile Summary and Book Notes
Are your friends or colleagues bothering you that you must read Antifragile? Did you just finish and aren't quite sure if you wrapped your head around it? As part of my work at Mutiny Funds, a deep area of interest for me is how to make systems more antifragile, starting with investors portfolios and going from there. To that end, these are the notes that I put together for myself after … [Read more...]
Career Learning: Be The Dumbest Guy in the Room
I flew into Bangkok on a Wednesday. It was not somewhere that I thought I would ever go a month prior. At the time, I was working at an online marketing agency in Memphis. I stopped writing to focus on some more monetizable side projects, but the majority of my energy and focus were going into my work. I was relatively happy with my situation. I didn't particularly want to be in Memphis, but … [Read more...]
Change Your Attitude Change Your Life (how to develop a positive attitude)
We, as individuals, define our own realities. We often self-impose limits on ourselves. We say things like "I'm not that smart" and use cop outs. 99.9% of people are vastly underachieving when you look at what their potential is. People get comfortable in their routine and instead of pushing themselves they just accept mediocrity. I've been thinking about this … [Read more...]