Category: Business

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Unconditional Basic Income

The digitization of our economy will bring with it a new generation of radical economic ideologies, of which Bitcoin is arguably the first. For those with assets, technological savvy, and a sense of adventure, the state is the enemy and a cryptographic currency is the solution. But for those more focused on the decline of the middle classes, the collapse of the entry-level jobs market, and the rise of free culture, the state is an ally, and the solution might look something like an unconditional basic income. Before I explain why this concept is going to be creeping into the political debate across the developed world, let me spell out how a system like this would look…

Read the article: Unconditional Basic Income

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Business Education Finance Life Social

Consumerism and Investments

Realize that happiness comes from accomplishment and personal growth, rather than from luxury products. Seek out voluntary discomfort as a way to become stronger, rather than running from it. Develop a healthy sense of self-mockery, and acknowledge that you are a wimp in many ways right now (and only by acknowledging it can you improve). Practice optimism. And of course, ride a bike.

Read the article: Meet Mr. Money Mustache, the man who retired at 30

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Art Business Education History Innovation Life Meta Science Social Technology

Nothing is withheld from us what we have conceived to do.

“Nothing is withheld from us what we have conceived to do.”

Read the article: An Unexpected Ass Kicking

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Business Education Finance History Legal Science Technology

Goldman Sachs and the $580 Million Black Hole

James and Janet Baker spent nearly two decades building Dragon, a voice technology company, into a successful, multimillion-dollar enterprise. It was, they say, their “third child.” So in late 1999, when offers to buy Dragon began rolling in, the couple made what seemed a smart decision: they turned to Goldman Sachs for advice. And why not? Goldman, after all, was the leading dealmaker on Wall Street. The Bakers wanted the best. This, of course, was before the scandals of the subprime mortgage era. It was before the bailouts, before Occupy Wall Street, before ordinary Americans began complaining about “banksters” and “muppets” and “the vampire squid.” In short, before Goldman Sachs became, for many, synonymous with Wall Street greed.

And yet, even today what happened next to the Bakers seems remarkable. With Goldman Sachs on the job, the corporate takeover of Dragon Systems in an all-stock deal went terribly wrong. Goldman collected millions of dollars in fees — and the Bakers lost everything when Lernout & Hauspie was revealed to be a spectacular fraud. L.& H. had been founded by Jo Lernout and Pol Hauspie, who had once been hailed as stars of the 1990s tech boom. Only later did the Bakers learn that Goldman Sachs itself had at one point considered investing in L.& H. but had walked away after some digging into the company.

Read the article: Goldman Sachs and a Sale Gone Horribly Awry

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Business Health Life Productivity Social

The ‘Busy’ Trap

“I am not busy. I am the laziest ambitious person I know… Idleness is not just a vacation, an indulgence or a vice; it is as indispensable to the brain as vitamin D is to the body, and deprived of it we suffer a mental affliction as disfiguring as rickets.”

“The goal of the future is full unemployment, so we can play. That’s why we have to destroy the present politico-economic system. – Sir Arthur C. Clarke”

Read the article: The ‘Busy’ Trap [New york Times]

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Business Education Finance History Technology

Fall of Microsoft

Eichenwald’s conversations reveal that a management system known as “stack ranking”—a program that forces every unit to declare a certain percentage of employees as top performers, good performers, average, and poor—effectively crippled Microsoft’s ability to innovate. “Every current and former Microsoft employee I interviewed—every one—cited stack ranking as the most destructive process inside of Microsoft, something that drove out untold numbers of employees,” Eichenwald writes. “If you were on a team of 10 people, you walked in the first day knowing that, no matter how good everyone was, 2 people were going to get a great review, 7 were going to get mediocre reviews, and 1 was going to get a terrible review,” says a former software developer. “It leads to employees focusing on competing with each other rather than competing with other companies.”

Read the article: Microsoft’s Downfall: Inside the Executive E-mails and Cannibalistic Culture That Felled a Tech Giant | Blogs | Vanity Fair

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Business Education Finance Innovation Life Productivity Science Technology

Steve Jobs on Average vs Best Software Developers

“I observed something fairly early on at Apple, which I didn’t know how to explain then, but have thought a lot about it since. Most things in life have a dynamic range in which average to best is at most 2:1. For example if you go to New York City and get an average taxi cab driver versus the best taxi cab driver, you’ll probably get to your destination with the best taxi driver 30% faster. And an automobile; What’s the difference between the average car and the best? Maybe 20% ?  The best CD player versus the average CD player? Maybe 20% ? So 2:1 is a big dynamic range for most things in life. Now, in software, and it used ot be the case in hardware, the difference between the average software developer and the best is 50:1; Maybe even 100:1….”

Read the article: Why You Need To Hire Great Developers

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Business Education Finance Innovation

Silicon Valley: How it works!

I believe that Silicon Valley is like Las Vegas, except they make you pass a number of tests before they let you gamble. This means that only a relatively select group gets to sit at the table. The purpose of this post is to analyze the folowing problem: Joe Founder comes to Silicon Valley with a laptop full of dreams, but no money. Joe wants to maximize his chances of making a few million dollars in five years. What should Joe do?

Read the article: Exploiting Silicon Valley For Profit (and Maybe Fun)

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The entrepreneur visa

MOST governments say they want to encourage entrepreneurs. Yet when foreigners with ideas come knocking, they slam doors in their faces. America, surprisingly, is one of the worst offenders. It has no specific visa for foreigners who wish to create new companies. It does offer a visa for investors, but the requirements are so stiff—usually an initial investment of $1m, or half that if the firm is in a depressed neighbourhood—that the annual quota of 10,000 visas is seldom filled. Other countries are more open (see table). Singapore offers visas to people who invest $40,000; for some, the government provides additional investment. Britain gives visas to entrepreneurs who meet certain conditions and attract £50,000 ($77,000) of venture funding. New Zealand has no specific capital requirement but offers residency to entrepreneurs whose firms are deemed to benefit the country. Chile is wildly generous: its government gives selected start-ups $40,000 without taking any equity in return.

Read the article: Visas for entrepreneurs: Where creators are welcome

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Business Education Finance Life Science Social

Why You Won’t Quit Your Job — Premature optimization

When I began writing Passion & Purpose in 2009, I met Susan, a young woman on the brink of quitting her investment banking job to pursue her lifelong passion of starting a nonprofit. A year later, when I asked how her new venture was going, I was surprised to hear that she “couldn’t bring herself to quit” in the first place. And when we bumped into each other last week, I found her toiling away in exactly the same role, still dreaming of her nonprofit venture, but now more depressed than ever.

Why can’t Susan just leave the job she despises? More generally, what powerful forces are pulling us back toward the “devil we know”?

Read the article: Why You Won’t Quit Your Job