“All told, listed technology firms make up more than a quarter of the value of America’s stockmarkets. The last time tech companies were so important was back in 2000, when they were briefly worth a third of the value of all listed equities in America.”
“That is the bad news. The good news is that the economy may be less volatile. A third of America’s 20th-century recessions were caused by industrial slumps or oil-price shocks, according to Goldman Sachs. Today manufacturing is just 11% of GDP and each dollar of output requires a quarter less energy than in 1999.”
https://www.economist.com/leaders/2019/07/11/americas-expansion-is-now-the-longest-on-record
“Services have become even more vital, at 70% of output. Instead of fickle factories and Florida condos, investment has shifted to intellectual property, which now accounts for more than a quarter of the total.”
https://www.economist.com/leaders/2019/07/11/americas-expansion-is-now-the-longest-on-record
“The purpose of a habit is to remove that action from self-negotiation. You no longer expend energy deciding whether to do it. You just do it. Good habits can range from telling the truth, to flossing.”
Via the great Kevin Kelly https://kk.org/thetechnium/68-bits-of-unsolicited-advice/
“Never use a credit card for credit. The only kind of credit, or debt, that is acceptable is debt to acquire something whose exchange value is extremely likely to increase, like in a home. The exchange value of most things diminishes or vanishes the moment you purchase them. Don’t be in debt to losers.”
Via the great Kevin Kelly https://kk.org/thetechnium/68-bits-of-unsolicited-advice/
I didn’t see it at the time, but he was dead right. Eras change, sometimes overnight. Over the next decade, the stock market shifted from junk-bond-fueled buyouts, a dominant Japan and the Cold War to highly valued emerging technology companies, ending with the dot-com blowout.
The current market turmoil tells me a new era is breaking, so question everything. Will cable, energy, mobile and social media ever come back? And if not, what’s next?
via Andy Kessler Crisis Means a New Business Era – WSJ
“Great strategy cuts a swath between market conditions and a firm’s assets. Put more simply, strategy is a firm’s answer to the following question:
What can we do that is really hard?”
Via Scott Galloway https://www.profgalloway.com/the-fourth-great-unlock
How can you be narcissistic and humble at the same time? The two qualities sound like opposites, but they can go hand in hand. Narcissists believe they’re special and superior; humble leaders know they’re fallible and flawed. Humble narcissists bring the best of both worlds: they have bold visions, but they’re also willing to acknowledge their weaknesses and learn from their mistakes.
Via https://getpocket.com/explore/item/tapping-into-the-power-of-humble-narcissism
“Growing as a leader takes time, mistakes, failure, feedback, and a lot of work. You don’t magically show up as the CEO and you are good to go. It’s not like that at all. The authority to make the final call doesn’t mean that you are good at it and that people will line up behind your decisions.”
Via Fred Wilson https://avc.com/2020/05/growth-2/
“23% of startups fail because of team. How do you think the numbers would compare for corporate innovation initiatives?
In corporate innovation we put a huge amount of emphasis on assessing “ideas”: how much should we invest? How fast can they scale? What’s the best go to market approach?
But how are we systematically assessing, recruiting and keeping the best team incentivised? Can we find the talent we need inhouse? How do we outsource it when we can’t? Maybe most importantly, are these the questions corporate HR is really set up to answer?”
Short answer: you need completely different processes and rewards
Via How to Attract and Retain Real Entrepreneurial Talent https://www.eventbrite.com/e/how-to-attract-and-retain-real-entrepreneurial-talent-tickets-84134818507
New Disruptors 