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May 13 2015

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May 10 2015

May 04 2015

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April 27 2015

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Reposted bymadgyverseeyouthanksforfishesamiebibiaafSilentForestxalposzukiwaszvogelstonerrlolsnapfroobrightbytetekwojlubiezoltymakrospsyentistdazzlingmstrzhoseannaSaper300kattKerishabiauekyouarenotyoursoupDiviusvoydatrantacorvaxoxygeniumvertheermatussfpletzcheathamolotovcupcakezatoraDaisyLoveskomplikowaniedanielbohrerFreXxXfugufiszdelphiN

April 26 2015

Average is over, marketing in the future

“It sounds a little silly, but making high earners feel better in just about every part of their lives will be a major source of job growth in the future. At some point it is hard to sell more physical stuff to high earners, yet there is usually just a bit more room to make them feel better. Better about the world. Better about themselves. Better about what they have achieved.
The growing importance of marketing integrates two seemingly unrelated features of the modern world: income inequality and increasing pressures on our attention. The more that earnings rise at the upper end of the distribution, the more competition there will be for the attention of the high earners and thus the greater the importance of marketing.”

Average is over, Eurozone edition

“This point suggests a broader perspective on the economic crisis in the Eurozone. Most current discussions of the crisis focus on debts, failing banks, capital-flight deflationary pressures, self-defeating austerity, and so on. That’s all relevant, but there is a deeper backdrop to these problems. Europe really is integrating economically, however imperfectly, and we are learning that there are big winners and big losers to this process. The debt problems and the high bond yields and the other signs of crisis can be read—in this account—as our financial markets heralding the future arrival of major changes in economic geography.
A lot more of Mediterranean Europe is going to look like southern Italy and Sicily: somewhat empty in terms of economically successful enterprises on a large scale. It will rely more on tourism and more on retirees and government transfers, but overall the fiscal problems of these regions will worsen and they may lose some political autonomy. In any case, their current and forthcoming revenue problems will show up in forward-looking market prices, in capital markets most of all, and that means crises in the bond markets as indeed we have been seeing.
It is striking how frequently the phrase “the periphery” is used in discussions of the Eurozone. It is exactly appropriate, and few people hesitate to use it to describe large parts of a region devoted to the ideal of economic integration. It’s time we started thinking through the other implications of that reality, namely that the geographic and institutional clustering of commercial talent is on the rise.”

April 24 2015

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I have no real skills but I have ~$200,000 and want to start a business. What should I do? - Quora

“I used to think the billion dollar Silicon Valley startup thing was the only business worth starting but I’ve come to realise that there is a lot of value in small, simple cashflow businesses that generate $1,000 or more per month and pretty much run themselves.”

The Basic Principles of Strategy Haven’t Changed in 30 Years

It took decades to figure out the basic principles of business strategy, and now that we have figured them out, we should not be valuing them any less because they have been clear to us for 30 years or more.

The basic principles are:

  1. If you want to earn above the cost of capital (if you want to create value), you must get a higher return on your efforts than the average competitor.
  2. To get a higher return than the average competitor, you must have an advantage or you must compete in an unusually attractive sector.
  3. There are only two ways to get an advantage. Your prices must be higher or your costs, including the cost of your balance sheet and the cost of taxes, must be lower.
  4. Unusually attractive sectors are those where the forces of competition are muted. Usually this is because there are few competitors. But there are other reasons, such as legislation or demand growing faster than supply.
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Eighty-five percent of men say they are clear in their role in society today, but 45% say it is harder to be a man today compared to their father’s generation, while just 20% say it is easier to be a man today (35% say it is no easier or harder). 

For those who say it is harder to be a man, a number of the most common reasons stem from changes in relationships with women, including that women are in a stronger position in the workplace and financially; men are taking on a greater share of household responsibilities; and more demands are being placed on men.

WSJ

April 23 2015

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April 21 2015

At first the machine hardly adds anything and it’s really just an investment in building a better machine. At the second step, experts—in the field of the program’s operation—will be required to work with the machines, to fill the gaps in what the machines can do. As the programs improve, the next and third step is that the humans understand the programs very well, with a minimum of expertise—but expertise nonetheless—in the relevant industry. These workers will essentially be information processors, albeit with an understanding of context. The fourth and final step is that the human isn’t needed much at all because the program on its own is so strong. When that happens, the previous collaborators will look for a new job somewhere else, maybe in an industry that has not yet made such good use of intelligent-machine analysis.
This is a very different picture from the dramatic claim that the machines will replace us all.
— Cowen, Tyler. “Average Is Over.”

April 20 2015

Play fullscreen

My life isn’t *all* working with banks and on wealth management, so here a bit of more cheerful work I’ve been involved in.

Very proud of what Team Garnier at Poke has achieved, and especially Bex who dreamed up this wonderful idea, flawlessly presented it and even managed to insert herself into the ad in the background!

April 19 2015

If someone tells you “you shouldn’t do that” or “that can’t be done,” assume they’re talking out their own asses until you’ve proven otherwise for yourself. People are well meaning, but their advice is clouded by their own bullshit, their life experiences and their choices.
The complete and logical guide to winning at your own life in 19 super difficult steps
What a man wishes, he will believe

Demosthenes

(and other Edward Tufte Grand Truths About Human Behaviour)

April 17 2015

April 10 2015

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crookedindifference:

California’s drought from space: March 2010 (left) to March 2015 (right)

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