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The idea that Bill Gates has appeared like a knight in shining armor to lead all customers out of a mire of technological chaos neatly ignores the fact that it was he who, by peddling second-rate technology, led them into it in the first place.
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Douglas Adams
“
You need a good customer service and client success strategy because it helps your business grow.
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Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
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He became convinced that ordinary commercial financing could be done for a service charge plus an insurance fee amounting to much less that the current rates of interest charged by banks, whose rates were based on supply and demand, treating money as a commodity rather than as a sovereign state's means of exchange.
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Robert A. Heinlein (For Us, the Living: A Comedy of Customs)
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Customs, morals—is there a difference? Woman, do you realize what you are doing? Here, by the grace of God and an inside straight, we have a personality untouched by the psychotic taboos of our tribe—and you want to turn him into a carbon copy of every fourth-rate conformist in this frightened land! Why don’t you go whole hog? Get him a brief case and make him carry it wherever he goes—make him feel shame if he doesn’t have it.
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Robert A. Heinlein (Stranger in a Strange Land)
“
We ride too high on deceptive notions of power and security and control and then when it all comes crashing down on us the low is made deeper by the high. By its precipitousness, but also by the humiliation you feel for having failed to see the plummet coming. . . . Lulled by years of relative peace and prosperity we settle into micromanaging our lives with our fancy technologies and custom interest rates and eleven different kinds of milk, and this leads to a certain inwardness, an unchecked narrowing of perspective, the vague expectation that even if we don't earn them and nurture them the truly essential amenities will endure forever as they are. We trust that someone else is looking after the civil liberties shop, so we don't have to. Our military might is unmatched and in any case the madness is at least an ocean away. And then all of a sudden we look up from ordering paper towels online to find ourselves delivered right into the madness. And we wonder: How did this happen? What was I doing when this was in the works? Is it too late to think about it now? . . .
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Lisa Halliday (Asymmetry)
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Once every year we review market rates and issue raises automatically. Our target is to pay everyone at the company at the top 10 percent of the market regardless of their role. So whether you work in customer support or ops or programming or design, you’ll be paid in the top 10 percent for that position.
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Jason Fried (It Doesn't Have to be Crazy at Work)
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... and finally there came the customer we'd always dreamed of, who wanted us as consultants. To be a consultant is the ideal work, the sort from which you derive prestige and money without dirtying your hands, or breaking your backbone, or running the risk of ending up roasted or poisoned: all you have to do is take off your smock, put on your tie, listen in attentive silence to the problem, and then you'll feel like the Delphic oracle. You must then weigh your reply very carefully and formulate it in convoluted, vague language so that the customer also considers you an oracle, worthy of his faith and the rates set by the Chemists' Society.
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Primo Levi (The Periodic Table)
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Whereas penetration most often means that industry demand will level off, for durable goods, achieving penetration can lead to an abrupt drop in industry demand. After most potential customers have purchased the product, its durability implies that few will buy replacements for a number of years. If industry penetration has been rapid, this situation may translate into several very lean years for industry demand. For example, industry sales of snowmobiles, which underwent very rapid penetration, fell from 425,000 units per year in the peak year (1970-1971) to 125,000 to 200,000 units per year in 1976-1977.6 Recreational vehicles underwent a similar though not quite so dramatic decline. The relation between the growth rate after penetration and growth before penetration will be a function of how fast penetration has been reached and the average time before replacement, and this figure can be calculated.
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Michael E. Porter (Competitive Strategy: Techniques for Analyzing Industries and Competitors)
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Forcing your employees to follow required steps only prevents customer dissatisfaction. If your goal is truly to satisfy, to create advocates, then the step-by-step approach alone cannot get you there. Instead, you must select employees who have the talent to listen and to teach, and then you must focus them toward simple emotional outcomes like partnership and advice.
...
Identify a person's strenths. Define outcomes that play to those strengths. Find a way to count, rate or rank those outcomes. And then let the person run.
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Marcus Buckingham
“
THE ORGANIC FOODS MYTH
A few decades ago, a woman tried to sue a butter company that had printed the word 'LITE' on its product's packaging. She claimed to have gained so much weight from eating the butter, even though it was labeled as being 'LITE'. In court, the lawyer representing the butter company simply held up the container of butter and said to the judge, "My client did not lie. The container is indeed 'light in weight'. The woman lost the case.
In a marketing class in college, we were assigned this case study to show us that 'puffery' is legal. This means that you can deceptively use words with double meanings to sell a product, even though they could mislead customers into thinking your words mean something different. I am using this example to touch upon the myth of organic foods. If I was a lawyer representing a company that had labeled its oranges as being organic, and a man was suing my client because he found out that the oranges were being sprayed with toxins, my defense opening statement would be very simple: "If it's not plastic or metallic, it's organic."
Most products labeled as being organic are not really organic. This is the truth. You pay premium prices for products you think are grown without chemicals, but most products are. If an apple is labeled as being organic, it could mean two things. Either the apple tree itself is free from chemicals, or just the soil. One or the other, but rarely both. The truth is, the word 'organic' can mean many things, and taking a farmer to court would be difficult if you found out his fruits were indeed sprayed with pesticides. After all, all organisms on earth are scientifically labeled as being organic, unless they are made of plastic or metal. The word 'organic' comes from the word 'organism', meaning something that is, or once was, living and breathing air, water and sunlight.
So, the next time you stroll through your local supermarket and see brown pears that are labeled as being organic, know that they could have been third-rate fare sourced from the last day of a weekend market, and have been re-labeled to be sold to a gullible crowd for a premium price. I have a friend who thinks that organic foods have to look beat up and deformed because the use of chemicals is what makes them look perfect and flawless. This is not true. Chemical-free foods can look perfect if grown in your backyard. If you go to jungles or forests untouched by man, you will see fruit and vegetables that look like they sprouted from trees from Heaven. So be cautious the next time you buy anything labeled as 'organic'. Unless you personally know the farmer or the company selling the products, don't trust what you read. You, me, and everything on land and sea are organic.
Suzy Kassem,
Truth Is Crying
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Suzy Kassem (Rise Up and Salute the Sun: The Writings of Suzy Kassem)
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Well, Sky is a regular customer of ours, and we were going to do a discount rate for her, but I have a better idea. The payment is you.
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Steve McHugh (With Silent Screams (Hellequin Chronicles, #3))
“
If you want to increase your success rate, double your failure rate. Thomas J. Watson, Former Chairman and CEO of IBM
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Dan Siroker (A/B Testing: The Most Powerful Way to Turn Clicks Into Customers)
“
Ten kings met once a year to decide about water sharing, fixing customs, excise, and toll rates, port levies, and to exchange musicians and artisans. An
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Anand Neelakantan (Asura: Tale Of The Vanquished)
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Customers deposit money in a bank for interest; the bank lends that money to other people at a higher rate of interest. This isn't glamorous or interesting, but then banking is not supposed to resemble base jumping or hip-hop.
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John Lanchester (I.O.U.: Why Everyone Owes Everyone and No One Can Pay)
“
Massino’s crew stashed stolen expensive men’s suits in a warehouse in the Corona section of Queens, and propelled the clothes on a rope line attached to a haberdashery across the street whenever customers showed up for a cut-rate sale.
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Selwyn Raab (Five Families: The Rise, Decline, and Resurgence of America's Most Powerful Mafia Empires)
“
In August, 1956, a Swedish bank teller cheerfully changed a $500 Confederate banknote for an enterprising customer, at the same favorable rate of exchange commanded by Federal currency in that season. His mistake was discovered only when it was much too late.
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Burke Davis (The Civil War: Strange & Fascinating Facts)
“
A persons trustworthiness in one area of life may not necessarily transfer over to their trustworthiness as a borrower. And a business that can be trusted to do the right thing for its customers may not necessarily be a business that can be trusted to do the right thing for its creditors.
”
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Hendrith Vanlon Smith Jr. (Capital Acquisition: Small Business Considerations for How to Get Financing)
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While delivering consistently good customer service requires work and alignment across your entire organization, a good place to start is your support team. It's important to hire people who genuinely want to help your customers succeed — and to pay rates that are attractive to skilled professionals.
”
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Oscar Auliq-Ice (Happy Customers)
“
Profit is so very fluctuating that the person who carries on a particular trade cannot always tell you himself what is the average of his annual profit. It is affected not only by every variation of price in the commodities which he deals in, but by the good or bad fortune both of his rivals and of his customers, and by a thousand other accidents to which goods when carried either by sea or by land, or even when stored in a warehouse, are liable. It varies, therefore, not only from year to year, but from day to day, and almost from hour to hour. To ascertain what is the average profit of all the different trades carried on in a great kingdom must be much more difficult; and to judge of what it may have been formerly, or in remote periods of time, with any degree of precision, must be altogether impossible. But though it may be impossible to determine, with any degree of precision, what are or were the average profits of stock, either in the present or in ancient times, some notion may be formed of them from the interest of money. It may be laid down as a maxim, that wherever a great deal can be made by the use of money, a great deal will commonly be given for the use of it; and that wherever little can be made by it, less will commonly be given for it. According, therefore, as the usual market rate of interest varies in any country, we may be assured that the ordinary profits of stock must vary with it, must sink as it sinks, and rise as it rises. The progress of interest, therefore, may lead us to form some notion of the progress of profit.
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Adam Smith (An Inquiry into the Nature and Causes of the Wealth of Nations)
“
Under a stakeholder economic model, businesses are not rewarded primarily based on economic metrics such as profit, loss, customer satisfaction, or the quality of a company’s products and services. Instead, businesses are rated based on their commitment to social and environmental causes chosen by the elites themselves, often to their own benefit.
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Glenn Beck (Dark Future: Uncovering the Great Reset's Terrifying Next Phase (The Great Reset Series))
“
The most important of all perceptions is the continual perception of cause and effect—in other words, the perception of the continuous development of the universe—in still other words, the perception of the course of evolution. When one has thoroughly got imbued into one's head the leading truth that nothing happens without a cause, one grows not only large-minded, but large-hearted. It is hard to have one's watch stolen, but one reflects that the thief of the watch became a thief from causes of heredity and environment which are as interesting as they are scientifically comprehensible; and one buys another watch, if not with joy, at any rate with a philosophy that makes bitterness impossible. One loses, in the study of cause and effect, that absurd air which so many people have of being always shocked and pained by the curiousness of life. Such people live amid human nature as if human nature were a foreign country full of awful foreign customs. But, having reached maturity, one ought surely to be ashamed of being a stranger in a strange land!
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Arnold Bennett (How to Live on 24 Hours a Day)
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Is a programmer who gets 99% of assignments done on time and 95% error free better than one who gets only 92% done on time but with a 99% error-free rate? Is total product quality higher if the defect rate is 15% lower but customer returns are 10% higher? Is “strategic alignment” higher if the profit went up by 10% but the “total quality index” went down by 5%?
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Douglas W. Hubbard (How to Measure Anything: Finding the Value of Intangibles in Business)
“
Household was making loans at a faster pace than ever. A big source of its growth had been the second mortgage. The document offered a fifteen-year, fixed-rate loan, but it was bizarrely disguised as a thirty-year loan. It took the stream of payments the homeowner would make to Household over fifteen years, spread it hypothetically over thirty years, and asked: If you were making the same dollar payments over thirty years that you are in fact making over fifteen, what would your “effective rate” of interest be? It was a weird, dishonest sales pitch. The borrower was told he had an “effective interest rate of 7 percent” when he was in fact paying something like 12.5 percent. “It was blatant fraud,” said Eisman. “They were tricking their customers.
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Michael Lewis (The Big Short: Inside the Doomsday Machine)
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Complaints: McKinsey and Company found: • customers who have major problems but don’t complain about them have a purchase intention rate of about 9% • those who do complain, regardless of the outcome, have a repurchase rate of about 19% • customers who have their complain resolved have a repurchase intention rate of 54% • customers who have complaints quickly resolved have a repurchase intention rate of 82%
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Anonymous
“
The three terms of Federalist rule had been full of dazzling accomplishments that Republicans, with their extreme apprehension of federal power, could never have achieved. Under the tutelage of Washington, Adams, and Hamilton, the Federalists had bequeathed to American history a sound federal government with a central bank, a funded debt, a high credit rating, a tax system, a customs service, a coast guard, a navy, and many other institutions that would guarantee the strength to preserve liberty. They activated critical constitutional doctrines that gave the American charter flexibility, forged the bonds of nationhood, and lent an energetic tone to the executive branch in foreign and domestic policy. Hamilton, in particular, bound the nation through his fiscal programs in a way that no Republican could have matched. He helped to establish the rule of law and the culture of capitalism at a time when a revolutionary utopianism and a flirtation with the French Revolution still prevailed among too many Jeffersonians. With their reverence for states’ rights, abhorrence of central authority, and cramped interpretation of the Constitution, Republicans would have found it difficult, if not impossible, to achieve these historic feats. Hamilton
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Ron Chernow (Alexander Hamilton)
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In the competitive world of digital marketing, converting prospects into loyal customers is the ultimate goal for any business. CallTrack.AI emerges as a revolutionary tool in this quest, leveraging the power of artificial intelligence to transform the lead generation process. How CallTrack.AI redefines the approach to capturing and nurturing leads, ultimately leading to higher conversion rates and a robust customer base?
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David Smithers
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Jeffrey Gitomer (Jeffrey Gitomer's Little Gold Book of Yes! Attitude: How to find, build, and keep a YES! attitude for a lifetime of SUCCESS (Jeffrey Gitomer's Little Book Series))
“
Yes, I read it,” she replies. “I most certainly did read it. It kept me up all night, I was so angry with it. At this stage of my life, I would rather not be kept up all night. Nor do I wish to have my tears jerked at the rate at which this novel jerked them. The next time you recommend a book to me, I hope you’ll keep that in mind, Mr. Fikry.” “I will,” he says. “And I do apologize, Mrs. Cumberbatch. Most of our customers have rather liked The Book Thief.
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Gabrielle Zevin (The Storied Life of A.J. Fikry)
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Fortunately, new platforms and technology have made homeschooling manageable on many fronts. Parents can do everything from accessing first-rate courses online to finding support from other parents in the same situation. The best part is that they can completely tailor the experience to the learning style and interest of their children and give them the attention that they would never get in the classroom. The results are striking. Twenty-five percent of homeschooled children are at least one grade ahead of their traditionally schooled peers. The homeschooled population, as a whole, scores exceptionally higher on academic achievement tests.5 This shift is perhaps the best glimpse of the future of education—mass customization alongside personalized attention. Like banking, it will return to a human-scale model based on relationships and personal needs, and it will be where much of the disruption in the economy and labor market occurs in the next few decades.
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Aaron Hurst (The Purpose Economy: How Your Desire for Impact, Personal Growth and Community Is Changing the World)
“
The panic was blamed on many factors—tight money, Roosevelt’s Gridiron Club speech attacking the “malefactors of great wealth,” and excessive speculation in copper, mining, and railroad stocks. The immediate weakness arose from the recklessness of the trust companies. In the early 1900s, national and most state-chartered banks couldn’t take trust accounts (wills, estates, and so on) but directed customers to trusts. Traditionally, these had been synonymous with safe investment. By 1907, however, they had exploited enough legal loopholes to become highly speculative. To draw money for risky ventures, they paid exorbitant interest rates, and trust executives operated like stock market plungers. They loaned out so much against stocks and bonds that by October 1907 as much as half the bank loans in New York were backed by securities as collateral—an extremely shaky base for the system. The trusts also didn’t keep the high cash reserves of commercial banks and were vulnerable to sudden runs.
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Ron Chernow (The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance)
“
An economic franchise arises from a product or service that: (1) is needed or desired; (2) is thought by its customers to have no close substitute and; (3) is not subject to price regulation. The existence of all three conditions will be demonstrated by a company’s ability to regularly price its product or service aggressively and thereby to earn high rates of return on capital. Moreover, franchises can tolerate mismanagement. Inept managers may diminish a franchise’s profitability, but they cannot inflict mortal damage.
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Tobias Carlisle (The Acquirer's Multiple: How the Billionaire Contrarians of Deep Value Beat the Market)
“
Through the years, I have heard that the average person speaks at about 150-160 words per minute, but can listen at a rate of about 1,000 words per minute. What is going on during all that extra mind time?
• Our minds are racing ahead and preparing for the next thing we are going to say.
• We are preoccupied with other thoughts, priorities, and distractions.
• Our subconscious filters are thumbing through our database of memories, judgments, experiences, perspectives, and opinions to frame how we are going to interpret what we think someone is saying.
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Susan C. Young (The Art of Communication: 8 Ways to Confirm Clarity & Understanding for Positive Impact(The Art of First Impressions for Positive Impact, #5))
“
The Colbertian use of tariffs furthermore skewed trade so that high customs barriers in Italy meant that raw silk from Piedmont which used to go to Lombardy was instead sent to Lyons; Dutch producers had to pay duties on goods sold in France, but not vice versa, and so on.44 It was economic imperialism in action, which could hardly fail to stoke resentment in France’s satellite states. Napoleon had managed greatly to increase confidence in France’s finances and in her ability to honour her government’s bonds, but even so they never managed to match Britain’s in this period. At his best, he was forced to borrow at higher rates than Britain at its worst.
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Andrew Roberts (Napoleon: A Life)
“
One of my students told the class that he worked in a bank in which everybody made note of every action—a telephone call, a calculation, use of a computer, waiting on a customer, etc. There was a standard time for every act, and everybody was rated every day. Some days this man would make a score of 50, next day 260, etc. Everybody was ranked on his score, the lower the score, the higher the rank. Morale was understandably low. “My rate is 155 pieces per day. I can’t come near this figure—and we all have the problem—without turning out a lot of defective items.” She must bury her pride of workmanship to make her quota, or lose pay and maybe also her job. It could well be that with intelligent supervision and help, and with no inherited defects, this operator could produce in a day and with less effort many more good items than her stated rate. Some people in management claim that they have a better plan: dock her for a defective item. This sounds great. Make it clear that this is not the place for mistakes and defective items. Actually, this may be cruel supervision. Who declares an item to be defective? Is it clear to the worker and to the inspector—both of them—what constitutes a defective item? Would it have been declared defective yesterday? Who made the defective item? The worker, or the system? Where is the evidence?
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W. Edwards Deming (Out of the Crises)
“
In reality, electrons move in “probability clouds.” So what do you tell a sixth grader? Do you talk about the motion of planets, which is easy to understand and nudges you closer to the truth? Or do you talk about “probability clouds,” which are impossible to understand but accurate? The choice may seem to be a difficult one: (1) accuracy first, at the expense of accessibility; or (2) accessibility first, at the expense of accuracy. But in many circumstances this is a false choice for one compelling reason: If a message can’t be used to make predictions or decisions, it is without value, no matter how accurate or comprehensive it is. Herb Kelleher could tell a flight attendant that her goal is to “maximize shareholder value.” In some sense, this statement is more accurate and complete than that the goal is to be “THE low-fare airline.” After all, the proverb “THE low-fare airline” is clearly incomplete—Southwest could offer lower fares by eliminating aircraft maintenance, or by asking passengers to share napkins. Clearly, there are additional values (customer comfort, safety ratings) that refine Southwest’s core value of economy. The problem with “maximize shareholder value,” despite its accuracy, is that it doesn’t help the flight attendant decide whether to serve chicken salad. An accurate but useless idea is still useless.
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Chip Heath (Made to Stick: Why some ideas take hold and others come unstuck)
“
The Endowed Progress Effect Punch cards are often used by retailers to encourage repeat business. With each purchase, customers get closer to receiving a free product or service. These cards are typically awarded empty and in effect, customers start at zero percent complete. What would happen if retailers handed customers punch cards with punches already given? Would people be more likely to take action if they had already made some progress? An experiment sought to answer this very question.[lxvi] Two groups of customers were given punch cards awarding a free car wash once the cards were fully punched. One group was given a blank punch card with 8 squares and the other given a punch card with 10 squares but with two free punches. Both groups still had to purchase 8 car washes to receive a free wash; however, the second group of customers — those that were given two free punches — had a staggering 82 percent higher completion rate. The study demonstrates the endowed progress effect, a phenomenon that increases motivation as people believe they are nearing a goal. Sites such as LinkedIn and Facebook utilize this heuristic to encourage people to divulge more information about themselves when completing their online profiles. On LinkedIn, every user starts with some semblance of progress (figure 19). The next step is to “Improve Your Profile Strength” by supplying additional information.
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Nir Eyal (Hooked: How to Build Habit-Forming Products)
“
THE WORKOUT Warm up with some light physical activity for 3 minutes at an easy pace. Blast through a 20-second sprint at an all-out pace. Rest with some light activity at intensity 1 for 2 minutes. Blast through another 20-second sprint. Repeat the cycle until you’ve completed 3 sprints. End with a 2-minute cool-down for a total duration of 10 minutes. Feel free to customize the sprint activity to any full-body movement that significantly elevates your heart rate—such as the stair climbing I mentioned earlier in this chapter. Note that the protocol we tested in the lab featured different warm-up and cool-down times. To bring this workout in line with the others in this book, I’ve used a 3-minute warm-up and a 2-minute cool-down.
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Martin Gibala (The One-Minute Workout: Science Shows a Way to Get Fit That's Smarter, Faster, Shorter)
“
Numerous lawyers, consultants, and accountants have told me that when a client has treated them badly, they avoid working for them again unless they are desperate, and when they must, they often charge higher rates to make themselves feel better and because assholes consume extra time and emotional energy. A European consultant explained his firm’s evidence-based ‘asshole pricing’ in a comment on my blog: We’ve therefore abandoned the old pricing altogether and simply have a list of difficult customers who get charged more. Before The No Asshole Rule became widely known, we were calling this Asshole Pricing. It isn’t just a tax, a surcharge on the regular price; the entirety of the price quoted is driven by Asshole considerations.
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Robert I. Sutton (Good Boss, Bad Boss: How to Be the Best... and Learn from the Worst)
“
Michael Ward knows. Ward loves railroads. His loves his own railroad company, CSX, which traces its origins to 1827 when the Baltimore & Ohio Railroad was formed as the nation’s first common carrier. He traces his own origins at CSX back thirty-seven years, when he took an analyst job as a newly minted Harvard Business School M.B.A., rising to become chairman, president, and CEO in 2003. And he loves the whole American freight rail industry. “Railroaders are like farmers,” Ward declares. “You heard about the farmer that won the lottery? They said to him, ‘Oh my gosh, you won the lottery; what are you going to do with all that money?’ He said, ‘I’m a farmer and I love farming, and I’m going to farm until every penny of it is gone.’ And I say railroaders are like that. When we make more money, we’re going to invest more back into the infrastructure, so we can strengthen the railroad and grow the business.” Ward may sound like a press release, but that’s exactly how he talks, and why he’s a major industry spokesman. He lavishes praise on industry performance: “While we’ve improved the profitability of the industry, we’ve also cut rates in half of what they were in 1980 for our customers, on an inflation-adjusted basis. We’re providing a more economical product to them, and it’s safer and more reliable. Over the years, as an industry, our train accident rate is down 80 percent; our personal injury rate is down 85 percent; and we’re doing this with about one-third of the workforce we had in 1980.” He calls the industry “the envy of the world.
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Rosabeth Moss Kanter (Move: How to Rebuild and Reinvent America's Infrastructure)
“
There is far more to the Islamic way of life than fasting and segregating women, of course. Praying five times a day, avoiding alcohol, the custom of eating with the right hand, leaving the left for ablutions and many health measures associated with Islam, such as ritual washing. Then there is the Qur’an itself and the sonorous power of the Arabic language, with an attractive system of ethics including a focus on alms-giving and the equality of believers. Putting all this together created a powerful religious technology which made its followers more aggressive, confident, united and with a higher birth rate than any competing civilization.
[...]
People in the West see the traditional culture of the Muslim Middle East as primitive and “backward,” and there are constant calls for modernization. In fact, as had been seen, Islamic culture is anything but backward. Civilization first arose in Egypt, Mesopotamia and the Indus Valley in what is now Pakistan. It is no coincidence that these lands, with the longest experience of civilization, are now strongly and fervently Muslim. Long experience of civilization has bred a high-S genotype and culture which perfectly adapt people to survive and expand their numbers in dense agricultural and urban populations.
Such countries tend to be poor (if we leave out the anomalous effects of oil wealth), since their peoples lack the temperament for industrialization. But wealth at that level is of no benefit in the long-term struggle for survival and success. To paraphrase Christian scripture, what does it benefit a civilization if it gains wealth but loses its strength and vigor? The advantages of Islam can be clearly seen in countries with mixed populations. Lebanon once had a Christian majority but is now 54% Muslim. In Communist Yugoslavia the provinces with Muslim populations grew much faster and received tax revenue from the wealthier Christian states. The population of Kosovo, the spiritual homeland of Christian Serbia, grew from 733,000 in 1948 to over two million in 1994, with the Muslim component surging from 68% to 90%, and lately going even higher.
Meanwhile, Muslims are migrating into Europe where Christianity is in decline, the birth rate is far below replacement level, and people no longer have much faith in their own culture. Over the next few decades, as the next chapter will indicate, the native peoples of the West will become feebler and fewer. This means that on current trends Europe will become an Islamic continent in a century or so. The 1,400-year struggle between Islam and the West is coming to end.
pp. 227 & 229-230
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Jim Penman (Biohistory: Decline and Fall of the West)
“
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All of us sit here at this conference and feel secure in our belief that we live in an era beyond this kind of…authoritarian regime change; but what sort of political climate do you think could potentially break apart our current stasis and deliver us back in time, so to speak?
Thank you, I am gratified there has been so much interest in our little project. Gilead Studies languished for many years, I suppose those who had lived through those times did not want them resurrected for various reasons including what might have been done to them and what they themselves might have done. But at this distance, we can allow ourselves some perspective. It’s fortunate that is the last question as my voice is giving out. As to your question, in times of peace and plenty, it is hard to remember the conditions that have led to authoritarian regime changes in the past. And it is even harder to suppose that we ourselves would ever make such choices or allow them to be made. But when there is a perfect storm and collapse of the established order is in the works precipitated by environmental stresses that lead to food shortages, economic factors such as unrest due to unemployment, a social structure that is top heavy with too much wealth being concentrated among too few, then scapegoats are sought and blamed, fear is rampant, and there is pressure to trade what we think of as liberty for what we think of as safety. And, when the birth rate of any society is low enough to create an aging shrinking population, then commercial and military authorities will become alarmed. Their customer base and their recruitment base will be in jeopardy and there will be extreme pressure on women of childbearing age to make up the population deficit, thus our handmaid and her tale.
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As he wheeled around and settled into his attack stance, the black human salesperson jumped back and put his palms up.
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Xcor glanced around, and nearly walked back to that fancy stairwell. “I require a new shirt.”
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The salesman smiled and raised a hand as if he were going to clap his customer on the shoulder—but then caught himself as he clearly rethought the contact. “What kind of look are you going for?” he asked instead.
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Xcor followed, because he didn’t know what else to do—he’d gotten this ball rolling; there was no reason not to follow through.
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The guy regarded him steadily. “You’re not from here, are you.”
“No, I’m not.”
“I can tell by the accent.” The salesman passed a hand over the dizzying array of folded-up squares with collars. “These are our traditional cuts. I can tell without measuring you that the European stuff isn’t going to do you right—you’re too muscled in the shoulders. Even if we could get the neck and arm size right, you’d bust out of them. Do you like any of these colors?”
“I don’t know what to like.”
“Here.” The man picked up a blue one that reminded Xcor of the backdrop on his phone. “This is good with your eyes. Not that I go that way—but you gotta work with what you got. Do you have any idea of your size?”
“XXXL.”
“We need to be a little more exact.
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J.R. Ward (The King (Black Dagger Brotherhood, #12))
“
Manhattan Prep started out as one lone tutor in a Starbucks coffee shop. Less than ten years later, it was a leading national education and publishing business that employed over one hundred people and was acquired by a public company for millions of dollars. How did that happen? We delivered a service that customers liked more than what was otherwise available. They sought us out and rewarded us with their business. We hired more people, grew, and kept improving. This process—a new company filling a need and flourishing as a result—is an example of value creation. It’s the fuel of economic growth, and what our country has been seeking a formula for. It’s the process that leads to new businesses and jobs. Value creation has a polar opposite: rent-seeking. In the 1980s, economists began noticing that countries with ample natural resources experienced lower economic growth rates than others. From 1965 to 1998 in the OPEC (oil-producing) countries, gross domestic product per capita decreased on average by 1.3 percent, while in the rest of the developed world, per capita growth increased by 2.2 percent (for an overall difference of 3.5 percent). This was a surprise—if you had lots of oil in the ground, wouldn’t that give you more wealth to invest and thus spur more rapid growth? Economists cited a number of factors to explain this “resource curse,” including internal and external conflict, corruption, lower monitoring of government, lack of diversification, and being subject to higher price volatility. One other possible explanation on offer was that a country’s smart people will wind up going to work in whatever industry is throwing off money (like the oil industry in Saudi Arabia). Thus fewer talented people are innovating in other industries, dragging down the growth rate over time. This makes sense—it’s a lot easier for a gifted Saudi to plug into the Ministry of Petroleum and Mineral Resources and extract economic value than to come up with a new business or industry. Does this sort of thing happen in the United States? Yes, you can make money through rent-seeking as opposed to value or wealth creation.
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Andrew Yang (Smart People Should Build Things: How to Restore Our Culture of Achievement, Build a Path for Entrepreneurs, and Create New Jobs in America)
“
Success comes with an inevitable problem: market saturation. New products initially grow just by adding more customers—to grow a network, add more nodes. Eventually this stops working because nearly everyone in the target market has joined the network, and there are not enough potential customers left. From here, the focus has to shift from adding new customers to layering on more services and revenue opportunities with existing ones. eBay had this problem in its early years, and had to figure its way out. My colleague at a16z, Jeff Jordan, experienced this himself, and would often write and speak about his first month as the general manager of eBay’s US business. It was in 2000, and for the first time ever, eBay’s US business failed to grow on a month-over-month basis. This was critical for eBay because nearly all the revenue and profit for the company came from the US unit—without growth in the United States, the entire business would stagnate. Something had to be done quickly. It’s tempting to just optimize the core business. After all, increasing a big revenue base even a little bit often looks more appealing than starting at zero. Bolder bets are risky. Yet because of the dynamics of market saturation, a product’s growth tends to slow down and not speed up. There’s no way around maintaining a high growth rate besides continuing to innovate. Jeff shared what the team did to find the next phase of growth for the company: eBay.com at the time enabled the community to buy and sell solely through online auctions. But auctions intimidated many prospective users who expressed preference for the ease and simplicity of fixed price formats. Interestingly, our research suggested that our online auction users were biased towards men, who relished the competitive aspect of the auction. So the first major innovation we pursued was to implement the (revolutionary!) concept of offering items for a fixed price on ebay.com, which we termed “buy-it-now.” Buy-it-now was surprisingly controversial to many in both the eBay community and in eBay headquarters. But we swallowed hard, took the risk and launched the feature . . . and it paid off big. These days, the buy-it-now format represents over $40 billion of annual Gross Merchandise Volume for eBay, 62% of their total.65
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Andrew Chen (The Cold Start Problem: How to Start and Scale Network Effects)
“
Cultivating loyalty is a tricky business. It requires maintaining a rigorous level of consistency while constantly adding newness and a little surprise—freshening the guest experience without changing its core identity.” Lifetime Network Value Concerns about brand fickleness in the new generation of customers can be troubling partly because the idea of lifetime customer value has been such a cornerstone of business for so long. But while you’re fretting over the occasional straying of a customer due to how easy it is to switch brands today, don’t overlook a more important positive change in today’s landscape: the extent to which social media and Internet reviews have amplified the reach of customers’ word-of-mouth. Never before have customers enjoyed such powerful platforms to share and broadcast their opinions of products and services. This is true today of every generation—even some Silent Generation customers share on Facebook and post reviews on TripAdvisor and Amazon. But millennials, thanks to their lifetime of technology use and their growing buying power, perhaps make the best, most active spokespeople a company can have. Boston Consulting Group, with grand understatement, says that “the vast majority” of millennials report socially sharing and promoting their brand preferences. Millennials are talking about your business when they’re considering making a purchase, awaiting assistance, trying something on, paying for it and when they get home. If, for example, you own a restaurant, the value of a single guest today goes further than the amount of the check. The added value comes from a process that Chef O’Connell calls competitive dining, the phenomenon of guests “comparing and rating dishes, photographing everything they eat, and tweeting and emailing the details of all their dining adventures.” It’s easy to underestimate the commercial power that today’s younger customers have, particularly when the network value of these buyers doesn’t immediately translate into sales. Be careful not to sell their potential short and let that assumption drive you headlong into a self-fulfilling prophecy. Remember that younger customers are experimenting right now as they begin to form preferences they may keep for a lifetime. And whether their proverbial Winstons will taste good to them in the future depends on what they taste like presently.
”
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Micah Solomon (Your Customer Is The Star: How To Make Millennials, Boomers And Everyone Else Love Your Business)
“
It is the custom in Germany for students to pass from one university to another during the course of their studies—a custom, incidentally, which no other country has. But it would be false to assume that this variety in instruction is a safeguard afainst uniformity of outlook, for although the professors of the various universities fight among themselves, they are all, fundamentally and at heart, in complete agreement. I came to realise this clearly through my contacts with the economists. This must have been about 1929. At that time we published a paper on certain aspects of the economic problem. Immediately a whole company of national economists of all sorts, and from a variety of universities, joined forces and signed a circular in which they unaminously condemned our economic proposals. I made one attempt to have a serious discussion with one of the most renowned of them, and one who was regarded by his colleagues as a revolutionary in economic thought Zwiedineck. The results were disastrous!
At the time the State had floated a loan of two million seven hundred thousand marks for the construction of a road. I told Zwiedineck that I regarded this way of financing a project as foolish in the extreme. The life of the road in question would be some fifteen years ; but the amortisation of the capital involved would continue for eighty years. What the Government was really doing was to evade an immediate financial obligation by transferring the charges to the men of the next generation and, indeed, of the generation after. I insisted that nothing could be more unsound, and that what the Government should really do was to take radical steps to reduce the rate of interest and thus to render capital more fluid.
I next argued that the gold standard, the fixing of rates of exchange and so forth were shibboleths which I had never regarded and never would regard as weighty and immutable principles of economy. Money, to me, was simply a token of exchange for work done, and its value depended absolutely on the value of the work accomplished. Where money did not represent services rendered, I insisted, it had no value at all.
Zwiedineck was horrified and very excited. Such ideas, he declared, would upset the accepted economic principles of the entire world, and the putting of them into practice would cause a breakdown of the world's political economy.
When, later, after our assumption of power, I put my theories into practice, the economists were not in the least discountenanced, but calmly set to work to prove by scientific argument that my theories were, indeed, sound economy !
”
”
Adolf Hitler (Hitler's Table Talk, 1941-1944)
“
Beginning in 2011, SpaceX won a series of contracts from NASA to develop rockets that could take humans to the International Space Station, a task made crucial by the retirement of the Space Shuttle. To fulfill that mission, it needed to add to its facilities at Cape Canaveral’s Pad 40, and Musk set his sights on leasing the most storied launch facility there, Pad 39A. Pad 39A had been center stage for America’s Space Age dreams, burned into the memories of a television generation that held its collective breath when the countdowns got to “Ten, nine, eight…” Neil Armstrong’s mission to the moon that Bezos watched as a kid blasted off from Pad 39A in 1969, as did the last manned moon mission, in 1972. So did the first Space Shuttle mission, in 1981, and the last, in 2011. But by 2013, with the Shuttle program grounded and America’s half-century of space aspirations ending with bangs and whimpers, Pad 39A was rusting away and vines were sprouting through its flame trench. NASA was eager to lease it. The obvious customer was Musk, whose Falcon 9 rockets had already launched on cargo missions from the nearby Pad 40, where Obama had visited. But when the lease was put out for bids, Jeff Bezos—for both sentimental and practical reasons—decided to compete for it. When NASA ended up awarding the lease to SpaceX, Bezos sued. Musk was furious, declaring that it was ridiculous for Blue Origin to contest the lease “when they haven’t even gotten so much as a toothpick to orbit.” He ridiculed Bezos’s rockets, pointing out that they were capable only of popping up to the edge of space and then falling back; they lacked the far greater thrust necessary to break the Earth’s gravity and go into orbit. “If they do somehow show up in the next five years with a vehicle qualified to NASA’s human rating standards that can dock with the Space Station, which is what Pad 39A is meant to do, we will gladly accommodate their needs,” Musk said. “Frankly, I think we are more likely to discover unicorns dancing in the flame duct.” The battle of the sci-fi barons had blasted off. One SpaceX employee bought dozens of inflatable toy unicorns and photographed them in the pad’s flame duct. Bezos was eventually able to lease a nearby launch complex at Cape Canaveral, Pad 36, which had been the origin of missions to Mars and Venus. So the competition of the boyish billionaires was set to continue. The transfer of these hallowed pads represented, both symbolically and in practice, John F. Kennedy’s torch of space exploration being passed from government to the private sector—from a once-glorious but now sclerotic NASA to a new breed of mission-driven pioneers.
”
”
Walter Isaacson (Elon Musk)
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The Ten Ways to Evaluate a Market provide a back-of-the-napkin method you can use to identify the attractiveness of any potential market. Rate each of the ten factors below on a scale of 0 to 10, where 0 is terrible and 10 fantastic. When in doubt, be conservative in your estimate: Urgency. How badly do people want or need this right now? (Renting an old movie is low urgency; seeing the first showing of a new movie on opening night is high urgency, since it only happens once.) Market Size. How many people are purchasing things like this? (The market for underwater basket-weaving courses is very small; the market for cancer cures is massive.) Pricing Potential. What is the highest price a typical purchaser would be willing to spend for a solution? (Lollipops sell for $0.05; aircraft carriers sell for billions.) Cost of Customer Acquisition. How easy is it to acquire a new customer? On average, how much will it cost to generate a sale, in both money and effort? (Restaurants built on high-traffic interstate highways spend little to bring in new customers. Government contractors can spend millions landing major procurement deals.) Cost of Value Delivery. How much will it cost to create and deliver the value offered, in both money and effort? (Delivering files via the internet is almost free; inventing a product and building a factory costs millions.) Uniqueness of Offer. How unique is your offer versus competing offerings in the market, and how easy is it for potential competitors to copy you? (There are many hair salons but very few companies that offer private space travel.) Speed to Market. How soon can you create something to sell? (You can offer to mow a neighbor’s lawn in minutes; opening a bank can take years.) Up-front Investment. How much will you have to invest before you’re ready to sell? (To be a housekeeper, all you need is a set of inexpensive cleaning products. To mine for gold, you need millions to purchase land and excavating equipment.) Upsell Potential. Are there related secondary offers that you could also present to purchasing customers? (Customers who purchase razors need shaving cream and extra blades as well; buy a Frisbee and you won’t need another unless you lose it.) Evergreen Potential. Once the initial offer has been created, how much additional work will you have to put in in order to continue selling? (Business consulting requires ongoing work to get paid; a book can be produced once and then sold over and over as is.) When you’re done with your assessment, add up the score. If the score is 50 or below, move on to another idea—there are better places to invest your energy and resources. If the score is 75 or above, you have a very promising idea—full speed ahead. Anything between 50 and 75 has the potential to pay the bills but won’t be a home run without a huge investment of energy and resources.
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Josh Kaufman (The Personal MBA)
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Unconditional blame is the tendency to explain all difficulties exclusively as the consequence of forces beyond your influence, to see yourself as an absolute victim of external circumstances. Every person suffers the impact of factors beyond his control, so we are all, in a sense, victims. We are not, however, absolute victims. We have the ability to respond to our circumstances and influence how they affect us. In contrast, the unconditional blamer defines his victim-identity by his helplessness, disowning any power to manage his life and assigning causality only to that which is beyond his control. Unconditional blamers believe that their problems are always someone else’s fault, and that there’s nothing they could have done to prevent them. Consequently, they believe that there’s nothing they should do to address them. Unconditional blamers feel innocent, unfairly burdened by others who do things they “shouldn’t” do because of maliciousness or stupidity. According to the unconditional blamer, these others “ought” to fix the problems they created. Blamers live in a state of self-righteous indignation, trying to control people around them with their accusations and angry demands. What the unconditional blamer does not see is that in order to claim innocence, he has to relinquish his power. If he is not part of the problem, he cannot be part of the solution. In fact, rather than being the main character of his life, the blamer is a spectator. Watching his own suffering from the sidelines, he feels “safe” because his misery is always somebody else’s fault. Blame is a tranquilizer. It soothes the blamer, sheltering him from accountability for his life. But like any drug, its soothing effect quickly turns sour, miring him in resignation and resentment. In order to avoid anxiety and guilt, the blamer must disown his freedom and power and see himself as a plaything of others. The blamer feels victimized at work. His job is fraught with letdowns, betrayals, disappointments, and resentments. He feels that he is expected to fix problems he didn’t create, yet his efforts are never recognized. So he shields himself with justifications. Breakdowns are never his fault, nor are solutions his responsibility. He is not accountable because it is always other people who failed to do what they should have done. Managers don’t give him direction as they should, employees don’t support him as they should, colleagues don’t cooperate with him as they should, customers demand much more than they should, suppliers don’t respond as they should, senior executives don’t lead the organization as they should, administration systems don’t work as they should—the whole company is a mess. In addition, the economy is weak, the job market tough, the taxes confiscatory, the regulations crippling, the interest rates exorbitant, and the competition fierce (especially because of those evil foreigners who pay unfairly low wages). And if it weren’t difficult enough to survive in this environment, everybody demands extraordinary results. The blamer never tires of reciting his tune, “Life is not fair!
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Fred Kofman (Conscious Business: How to Build Value Through Values)
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I am speaking of the evenings when the sun sets early, of the fathers under the streetlamps in the back streets
returning home carrying plastic bags. Of the old Bosphorus ferries moored to deserted
stations in the middle of winter, where sleepy sailors scrub the decks, pail in hand and one
eye on the black-and-white television in the distance; of the old booksellers who lurch from
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the barbers who complain that men don’t shave as much after an economic crisis; of the
children who play ball between the cars on cobblestoned streets; of the covered women
who stand at remote bus stops clutching plastic shopping bags and speak to no one as they
wait for the bus that never arrives; of the empty boathouses of the old Bosphorus villas; of
the teahouses packed to the rafters with unemployed men; of the patient pimps striding up
and down the city’s greatest square on summer evenings in search of one last drunken
tourist; of the broken seesaws in empty parks; of ship horns booming through the fog; of
the wooden buildings whose every board creaked even when they were pashas’ mansions,
all the more now that they have become municipal headquarters; of the women peeking
through their curtains as they wait for husbands who never manage to come home in the
evening; of the old men selling thin religious treatises, prayer beads, and pilgrimage oils in
the courtyards of mosques; of the tens of thousands of identical apartment house entrances,
their facades discolored by dirt, rust, soot, and dust; of the crowds rushing to catch ferries
on winter evenings; of the city walls, ruins since the end of the Byzantine Empire; of the
markets that empty in the evenings; of the dervish lodges, the tekkes, that have crumbled;
of the seagulls perched on rusty barges caked with moss and mussels, unϩinching under the
pelting rain; of the tiny ribbons of smoke rising from the single chimney of a hundred-yearold
mansion on the coldest day of the year; of the crowds of men ϧshing from the sides of
the Galata Bridge; of the cold reading rooms of libraries; of the street photographers; of the
smell of exhaled breath in the movie theaters, once glittering aϱairs with gilded ceilings,
now porn cinemas frequented by shamefaced men; of the avenues where you never see a
woman alone after sunset; of the crowds gathering around the doors of the state-controlled
brothels on one of those hot blustery days when the wind is coming from the south; of the
young girls who queue at the doors of establishments selling cut-rate meat; of the holy
messages spelled out in lights between the minarets of mosques on holidays that are
missing letters where the bulbs have burned out; of the walls covered with frayed and
blackened posters; of the tired old dolmuşes, ϧfties Chevrolets that would be museum pieces
in any western city but serve here as shared taxis, huϫng and puϫng up the city’s narrow
alleys and dirty thoroughfares; of the buses packed with passengers; of the mosques whose
lead plates and rain gutters are forever being stolen; of the city cemeteries, which seem like
gateways to a second world, and of their cypress trees; of the dim lights that you see of an
evening on the boats crossing from Kadıköy to Karaköy; of the little children in the streets
who try to sell the same packet of tissues to every passerby; of the clock towers no one ever
notices; of the history books in which children read about the victories of the Ottoman
Empire and of the beatings these same children receive at home; of the days when
everyone has to stay home so the electoral roll can be compiled or the census can be taken;
of the days when a sudden curfew is announced to facilitate the search for terrorists and
everyone sits at home fearfully awaiting “the oϫcials”; CONTINUED IN SECOND PART OF THE QUOTE
”
”
Orhan Pamuk (Istanbul: Memories and the City)