Offer Sale Quotes

Snake Street is an area I should avoid. Yet that night I was drawn there as surely as if I had an appointment.  The Snake House is shabby on the outside to hide the wealth within. Everyone knows of the wealth, but facades, like the park’s wall, must be maintained. A lantern hung from the porch eaves. A sign, written in Utte, read ‘Kinship of the Serpent’. I stared at that sign, at that porch, at the door with its twisted handle, and wondered what the people inside would do if I entered. Would they remember me? Greet me as Kin? Or drive me out and curse me for faking my death?  Worse, would they expect me to redon the life I’ve shed? Staring at that sign, I pissed in the street like the Mearan savage I’ve become. As I started to leave, I saw a woman sitting in the gutter. Her lamp attracted me. A memsa’s lamp, three tiny flames to signify the Holy Trinity of Faith, Purity, and Knowledge.  The woman wasn’t a memsa. Her young face was bruised and a gash on her throat had bloodied her clothing. Had she not been calmly assessing me, I would have believed the wound to be mortal. I offered her a copper.  She refused, “I take naught for naught,” and began to remove trinkets from a cloth bag, displaying them for sale. Her Utte accent had been enough to earn my coin. But to assuage her pride I commented on each of her worthless treasures, fighting the urge to speak Utte. (I spoke Universal with the accent of an upper class Mearan though I wondered if she had seen me wetting the cobblestones like a shameless commoner.) After she had arranged her wares, she looked up at me. “What do you desire, O Noble Born?” I laughed, certain now that she had seen my act in front of the Snake House and, letting my accent match the coarseness of my dress, I again offered the copper.  “Nay, Noble One. You must choose.” She lifted a strand of red beads. “These to adorn your lady’s bosom?”             I shook my head. I wanted her lamp. But to steal the light from this woman ... I couldn’t ask for it. She reached into her bag once more and withdrew a book, leather-bound, the pages gilded on the edges. “Be this worthy of desire, Noble Born?”  I stood stunned a moment, then touched the crescent stamped into the leather and asked if she’d stolen the book. She denied it. I’ve had the Training; she spoke truth. Yet how could she have come by a book bearing the Royal Seal of the Haesyl Line? I opened it. The pages were blank. “Take it,” she urged. “Record your deeds for study. Lo, the steps of your life mark the journey of your soul.”   I told her I couldn’t afford the book, but she smiled as if poverty were a blessing and said, “The price be one copper. Tis a wee price for salvation, Noble One.”   So I bought this journal. I hide it under my mattress. When I lie awake at night, I feel the journal beneath my back and think of the woman who sold it to me. Damn her. She plagues my soul. I promised to return the next night, but I didn’t. I promised to record my deeds. But I can’t. The price is too high.

I want to create a 3-4 deal—buy three for the price of four. Offer valid for any product but love, which is one for the price of two only.

To live in a city is to live the life that it was built for, to adapt to its schedule and rhythms, to move within the transit layout made for you during the morning and evening rush, winding through the crowds of fellow commuters. To live in a city is to consume its offerings. To eat at its restaurants. To drink at its bars. To shop at its stores. To pay its sales taxes. To give a dollar to its homeless. To live in a city is to take part in and to propagate its impossible systems. To wake up. To go to work in the morning. It is also to take pleasure in those systems because, otherwise, who could repeat the same routines, year in, year out?

I make love like I make coffee. Tuesdays and Thursdays I offer free refills.


I asked for info, and he offered it for a price. Now I’m selling him my security services, and if he doesn’t pay me, I’m going to give him a karate lesson—for free.

For all your talk, you don't know the first thing about love." Tears spilled over her lashes and rolled down her cheeks. She slipped the chain that held his Super Bowl ring over her head and pressed it into his palm. "I love you, Bobby Tom, and I'll love you till the day I die. But I've never been for sale. I was a free offering all along.

The many troubles in your household will tend to your edification, if you strive to bear them all in gentleness, patience, and kindness. Keep this ever before you, and remember constantly that God's loving eyes are upon you amid all these little worries and vexations, watching whether you take them as He would desire. Offer up all such occasions to Him, and if sometimes you are put out, and give way to impatience, do not be discouraged, but make haste to regain your lost composure.

Time would come when gold would outweigh blood. But this was still Virginia of old, where a dubious God held that those who would offer a man for sale were somehow more honorable than those who effected that sale.

The more you know about your customers, the better you can offer them things they value at a maximum price point.

When congratulations are in order, I like to wait until they’re out of order to offer a high five or enthusiastic pat on the back.

If you do not believe in your product or service enough to offer it to your own family and friends, then you should question the value of what you are selling.

To live in a city is to live the life that it was built for, to adapt to its schedule and rhythms, to move within the transit layout made for you during the morning and evening rush, winding through the crowds of fellow commuters. To live in a city is to consume its offerings. To eat at its restaurants. To drink at its bars. To shop at its stores. To pay its sales taxes. To give a dollar to its homeless. To live in a city is to take part in and to propagate its impossible systems. To wake up. To go to work in the morning. It is also to take pleasure in those systems because, otherwise, who could repeat the same routines, year in, year out?

I'm a rich man, Brick, yep, I'm a mighty rich man. Y'know how much I'm worth? Guess, Brick! Guess how much I'm worth! Close to ten million in cash an' blue chip stocks, outside, mind you, of twenty-eight thousand acres of the richest land this side of the valley Nile! But a man can't buy his life with it, he can't buy back his life with it when his life has been spent, that's one thing not offered in the Europe fire-sale or in the American markets or any markets on earth, a man can't buy his life with it, he can't buy back his life when his life is finished... Big Daddy: (pp. 65)

If a magic genie, from a lamp, offered me three wishes, I'd use one to wish you a happy birthday. So 33 percent would be spent in your celebration. I only offer that statistic so you don't think me chintzy when you find this card void of cash.

The degree of the pain will be proportional to the price you will be able to charge (more on this in the Value Equation chapter). When they hear the solution to their pain, and inversely, what their life would look like without this pain, they should be drawn to your solution. I have a saying I use to train sales teams “The pain is the pitch.” If you can articulate the pain a prospect is feeling accurately, they will almost always buy what you are offering. A prospect must have a painful problem for us to solve and charge money for our solution.

you will attract way more buyers if you are offering to teach them something of value to them than you will ever attract by simply trying to sell them your product or ser vice.

About money-grubbing women, here’s my stance: Bring on the gold diggers. I’ve got nothing to offer but pyrite.

Increased Response Rates (think clicks) Increased Conversion (think sales) Premium Prices (think charging a lot of money).

And the City, in its own way, gets down for you, cooperates, smoothing its sidewalks, correcting its curbstones, offering you melons and green apples on the corner. Racks of yellow head scarves; strings of Egyptian beads. Kansas fried chicken and something with raisins call attention to an open window where the aroma seems to lurk. And if that's not enough, doors to speakeasies stand ajar and in that cool dark place a clarinet coughs and clears its throat waiting for the woman to decide on the key. She makes up her mind and as you pass by informs your back that she is daddy's little angel child. The City is smart at this: smelling and good and looking raunchy; sending secret messages disguised as public signs: this way, open here, danger to let colored only single men on sale woman wanted private room stop dog on premises absolutely no money down fresh chicken free delivery fast. And good at opening locks, dimming stairways. Covering your moans with its own.

I don’t understand people who eat Chinese food with chopsticks when the restaurant also offers silverware. As a tool, chopsticks are inferior to western utensils like the spoon and fork. So why use them? That’s like showing up to a math test with an abacus, knowing that the teacher is going to be handing out calculators.

If everyone’s saying they offer the “leading solution,” what’s the customer to think? We can tell you what their response will be: “Great—give me 10 percent off.

If you underprice your SEO, clients undervalue your work. Anchor high and justify with results

Cheap SEO sends the wrong signal. Price anchors perception, and perception drives trust

In SEO, the price you set anchors the value you’re perceived to deliver—don’t discount your expertise

I eat overcast skies for breakfast, because sunlight isn’t filling enough. As a lover, I’m a bring-my-own-umbrella kind of guy, because a soup bowl doesn’t offer enough space or protection.

Digital freedom stops where that of users begins... Nowadays, digital evolution must no longer be offered to a customer in trade-off between privacy and security. Privacy is not for sale, it's a valuable asset to protect.

Opening up their sack, the children chorus, “Oh Snowman, what have we found?” They lift out the objects, hold them up as if offering them for sale: a hubcap, a piano key, a chunk of pale-green pop bottle smoothed by the ocean. A plastic BlyssPluss container, empty; a ChickieNobs Bucket O’Nubbins, ditto. A computer mouse, or the busted remains of one, with a long wiry tail.

No matter how many indigested actions a female appears to exhibit to the male psyche, she is still a woman. She's the specialty of the house. However she doesn't come at a sale price. Considering her value, a woman is one of the best deals life has to offer.

Something out of the ordinary course of business is taking place that creates an investment opportunity. The list of corporate events that can result in big profits for you runs the gamut—spinoffs, mergers, restructurings, rights offerings, bankruptcies, liquidations, asset sales, distributions.

MR. DOMBEY’S offices were in a court where there was an old-established stall of choice fruit at the corner: where perambulating merchants, of both sexes, offered for sale at any time between the hours of ten and five, slippers, pocket-books, sponges, dogs’ collars, and Windsor soap; and sometimes a pointer or an oil painting.

There’s something else about this list that really jumps out. Take another look at the top five attributes listed there—the key characteristics defining a world-class sales experience: Rep offers unique and valuable perspectives on the market. Rep helps me navigate alternatives. Rep provides ongoing advice or consultation. Rep helps me avoid potential land mines. Rep educates me on new issues and outcomes. Each of these attributes speaks directly to an urgent need of the customer not to buy something, but to learn something. They’re looking to suppliers to help them identify new opportunities to cut costs, increase revenue, penetrate new markets, and mitigate risk in ways they themselves have not yet recognized. Essentially this is the customer—or 5,000 of them at least, all over the world—saying rather emphatically, “Stop wasting my time. Challenge me. Teach me something new.

Then he wrote ‘For Sale’ on the windshield. One day I heard a sucker stop and offer him forty bucks—that’s forty more than it was worth.

The digital world offers voters the opportunity to live in echo chambers where their political prejudices are confirmed and reinforced daily.

Know that everything's for sale for one who knows to offer a right price.

put it up for sale at an asking price of $25 million. I first looked at Mar-a-Lago while vacationing in Palm Beach in 1982. Almost immediately I put in a bid of $15 million, and it was promptly rejected. Over the next few years, the foundation signed contracts with several other buyers at higher prices than I’d offered, only to have them fall through before closing. Each time that happened, I put in another bid, but always at a lower sum than before. Finally, in late 1985, I put in a cash offer of $5 million, plus another $3 million for the furnishings in the house. Apparently, the foundation was tired of broken deals. They accepted my offer, and we closed one month later. The day the deal was announced, the Palm Beach Daily News ran a huge front-page story with the headline MAR-A-LAGO’S BARGAIN PRICE ROCKS COMMUNITY. Soon, several far more modest estates on property a fraction of Mar-a-Lago’s size sold for prices in excess of $18 million. I’ve been told that the furnishings in Mar-a-Lago alone are worth more than I paid for the house. It just goes to show that it pays to move quickly and decisively when the time is right. Upkeep

People like Ruby Sales, who remains committed to engaging what she names “the culture of whiteness,” always have my undying respect. In 1965, when a white man, Jonathan Daniels, knocked her down thus taking a shotgun blast meant for her, fired by another white man, Tom Coleman, she says she stood between the best and the worst our democracy has to offer. The murkiness as we exist alongside each other calls us forward. I don’t want to forget that I am here; at any given moment we are, each of us, next to any other capable of both the best and the worst our democracy has to offer.

Ed Lim’s daughter, Monique, was a junior now, but as she’d grown up, he and his wife had noted with dismay that there were no dolls that looked like her. At ten, Monique had begun poring over a mail-order doll catalog as if it were a book–expensive dolls, with n ames and stories and historical outfits, absurdly detailed and even more absurdly expensive. ‘Jenny Cohen has this one,’ she’d told them, her finger tracing the outline of a blond doll that did indeed resemble Jenny Cohen: sweet faced with heavy bangs, slightly stocky. 'And they just made a new one with red hair. Her mom’s getting it for her sister Sarah for Hannukkah.’ Sarah Cohen had flaming red hair, the color of a penny in the summer sun. But there was no doll with black hair, let alone a face that looked anything like Monique’s. Ed Lim had gone to four different toy stores searching for a Chinese doll; he would have bought it for his daughter, whatever the price, but no such thing existed. He’d gone so far as to write to Mattel, asking them if there was a Chinese Barbie doll, and they’d replied that yes, they offered 'Oriental Barbie’ and sent him a pamphlet. He had looked at that pamphlet for a long time, at the Barbie’s strange mishmash of a costume, all red and gold satin and like nothing he’d ever seen on a Chinese or Japanese or Korean woman, at her waist-length black hair and slanted eyes. I am from Hong Kong, the pamphlet ran. It is in the Orient, or Far East. Throughout the Orient, people shop at outdoor marketplaces where goods such as fish, vegetables, silk, and spices are openly displayed. The year before, he and his wife and Monique had gone on a trip to Hong Kong, which struck him, mostly, as a pincushion of gleaming skyscrapers. In a giant, glassed-in shopping mall, he’d bought a dove-gray cashmere sweater that he wore under his suit jacket on chilly days. Come visit the Orient. I know you will find it exotic and interesting. In the end he’d thrown the pamphlet away. He’d heard, from friends with younger children, that the expensive doll line now had one Asian doll for sale – and a few black ones, too – but he’d never seen it. Monique was seventeen now, and had long outgrown dolls.

Hunger was pushed out of the tall houses, in the wretched clothing that hung upon poles and lines; Hunger was patched into them with straw and rag and wood and paper; Hunger was repeated in every fragment of the small modicum of firewood that the man sawed off; Hunger stared down from the smokeless chimneys, and started up from the filthy street that had no offal, among its refuse, of anything to eat. Hunger was the inscription on the baker's shelves, written in every small loaf of his scanty stock of bad bread; at the sausage-shop, in every dead-dog preparation that was offered for sale. Hunger rattled its dry bones among the roasting chestnuts in the turned cylinder; Hunger was shred into atomics in every farthing porringer of husky chips of potato, fried with some reluctant drops of oil.

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you teach without tailoring, you come off as irrelevant. If you tailor but don’t teach, you risk sounding like every other supplier. If you take control but offer no value, you risk being simply annoying.

Brevity Is Best: Nicknamed "Silent Cal," President Calvin Coolidge was once challenged by a reporter, saying, "I bet someone that I could get more than two words out of you." Coolidge responded, "You lose." The notion of crafting six word memoirs really took off after Smith Magazine shared this poignant one written by Ernest Hemingway: "For Sale: baby shoes, never worn." Pithiness Pays Off For Other Reasons: When required to be brief, for example, we gain clarity about what we really mean -- or have to offer. As Mark Twain once wrote, in a slower-paced time, "I didn't have time to write a short letter, so I wrote a long one instead.

If you don’t like your customers, that’s your fault, not theirs. You attract your customers based on the content and offers that you put into the marketplace.” And then he said the line that I’ll never forget, “If you change your bait, you’ll change your customer.

Marketing and sales isn’t about trying to persuade, coerce, or manipulate people into buying your services. It’s about putting yourself out in front of, and offering your services to, those whom you are meant to serve—people who already need and are looking for your services. In

There is no one to open the store. You offer to do it. They tell you that you don’t have to. They say they can ask one of the sales clerks. You tell them you’ve got it under control. When they say thank you, you realize that you have missed being relied upon. You remember the pride of being useful.

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Many readers are familiar with the spirit and the letter of the definition of “prayer”, as given by Ambrose Bierce in his Devil’s Dictionary. It runs like this, and is extremely easy to comprehend: Prayer: A petition that the laws of nature be suspended in favor of the petitioner; himself confessedly unworthy. Everybody can see the joke that is lodged within this entry: The man who prays is the one who thinks that god has arranged matters all wrong, but who also thinks that he can instruct god how to put them right. Half–buried in the contradiction is the distressing idea that nobody is in charge, or nobody with any moral authority. The call to prayer is self–cancelling. Those of us who don’t take part in it will justify our abstention on the grounds that we do not need, or care, to undergo the futile process of continuous reinforcement. Either our convictions are enough in themselves or they are not: At any rate they do require standing in a crowd and uttering constant and uniform incantations. This is ordered by one religion to take place five times a day, and by other monotheists for almost that number, while all of them set aside at least one whole day for the exclusive praise of the Lord, and Judaism seems to consist in its original constitution of a huge list of prohibitions that must be followed before all else. The tone of the prayers replicates the silliness of the mandate, in that god is enjoined or thanked to do what he was going to do anyway. Thus the Jewish male begins each day by thanking god for not making him into a woman (or a Gentile), while the Jewish woman contents herself with thanking the almighty for creating her “as she is.” Presumably the almighty is pleased to receive this tribute to his power and the approval of those he created. It’s just that, if he is truly almighty, the achievement would seem rather a slight one. Much the same applies to the idea that prayer, instead of making Christianity look foolish, makes it appear convincing. Now, it can be asserted with some confidence, first, that its deity is all–wise and all–powerful and, second, that its congregants stand in desperate need of that deity’s infinite wisdom and power. Just to give some elementary quotations, it is stated in the book of Philippians, 4:6, “Be careful for nothing; but in everything by prayer and supplication and thanksgiving, let your requests be known to God.” Deuteronomy 32:4 proclaims that “he is the rock, his work is perfect,” and Isaiah 64:8 tells us, “Now O Lord, thou art our father; we art clay and thou our potter; and we are all the work of thy hand.” Note, then, that Christianity insists on the absolute dependence of its flock, and then only on the offering of undiluted praise and thanks. A person using prayer time to ask for the world to be set to rights, or to beseech god to bestow a favor upon himself, would in effect be guilty of a profound blasphemy or, at the very least, a pathetic misunderstanding. It is not for the mere human to be presuming that he or she can advise the divine. And this, sad to say, opens religion to the additional charge of corruption. The leaders of the church know perfectly well that prayer is not intended to gratify the devout. So that, every time they accept a donation in return for some petition, they are accepting a gross negation of their faith: a faith that depends on the passive acceptance of the devout and not on their making demands for betterment. Eventually, and after a bitter and schismatic quarrel, practices like the notorious “sale of indulgences” were abandoned. But many a fine basilica or chantry would not be standing today if this awful violation had not turned such a spectacularly good profit. And today it is easy enough to see, at the revival meetings of Protestant fundamentalists, the counting of the checks and bills before the laying on of hands by the preacher has even been completed. Again, the spectacle is a shameless one.

The ads in the papers all said 'help wanted, will train,' but wherever she went she was turned down. "The position's just been filled," she was told again and again. Or, "We wouldn't want to upset the other employees." At the department store where she had once bought all her hats and silk stockings they would not hire her as a cashier because they were afraid of offending the customers. Instead they offered her work adding up sales slips in a small dark room in the back where no one could see her but she politely declined. "I was afraid I'd ruin my eyes back there," she told us. "I was afraid I might accidentally remember who I was and ... offend myself.

What if you aren’t ready to launch? Well, you’re hardly ever fully ready . . . so here’s a trick. Go ahead and publish your offer, but add the label “beta” to it. You could also call it “early version” or any other phrase that sounds good. Doing so will allow you to continue working on it while also getting real feedback, and hopefully some sales as well.

For instance, many wood and paper products that are offered to consumers for sale carry labels making pro-environmental claims such as “for every tree felled, at least two are planted.” However, a survey of 80 such claims found that 77 could not be substantiated at all, 3 could be only partially substantiated, and almost all were withdrawn when challenged.

When I was in the advertising business, I used to offer free seminars to advertisers about how to create better ads (the material in this chapter being the content). That was not so long ago, but since then the Internet has ballooned to major significance. If I were selling advertising today, I’d have that seminar online. Think of how this cuts down on your travel expenses. I used to fly all over creation to deliver those seminars. And appointments were harder to get. The education-based marketing concept that you learned in Chapter Four works hand in glove with the ability to do things over the Internet. Here’s the pitch I’d do today: “How would you like to learn to make your advertising literally 10 times more effective? And you can do it right from the comfort of your favorite office chair.” It’s hard to resist such an offer. There are many examples I could give you to flesh out the model of turning your Web site into a community. The examples below are simple and some are even silly, but each shows how far this concept can go and how it helps you capture more leads and build a better brand.

What was shocking were the rewards my father's cousins had gathered in the intervening couple of decades. They farmed now on thousands of acres, not hundreds. They drove fancy pickup trucks, owned lakefront property and second homes. A simple Internet search offered the truth of where their riches had come from: good ol' Uncle Sam. Recently I clicked again on a database of farm subsidy payments, and found that five of my father's first cousins had been paid, all told, $3 million between 1995 and 2005 - and that on top of whatever they'd earned outright for the sale of their corn and soybeans. They worked hard, certainly. They'd saved and scrimped through the lean years. They were good and honorable yeoman, and now they'd come through to their great reward: a prime place at the trough of the welfare state. All that corn syrup guzzled down the gullets of America's overweight children, all that beef inefficiently fattened on cheap feed, all that ethanol being distilled in heartland refineries: all of it underwritten by as wasteful a government program as now exists this side of the defense industry. In the last ten years, the federal government has paid $131 million in subsidies and disaster insurance in just the county [in Minnesota] where I grew up. Corn is subsidized to keep it cheap, and the subsidies encourage overproduction, which encourages a scramble for ever more ways to use corn, and thus bigger subsidies - the perfect feedback loop of government welfare.

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.

My temple is a sprawling promise with walls of flesh and bone and choice. The bump on its nose, an altar to my grandmother. Its scars, a shrine to myself. Etched in the foundation are the words: I was here, I was here, I was here, the scrawl of every hand from my bloodline. My body is a temple, and I will use my temple to worship. I will make love. I will make time. I will make promises and try to keep them. I will make breakfast when I do not believe I deserve it. I will fling open every window and shout about hope, even when I don’t feel it. Especially when I don’t feel it. My temple was not bought with blood. It is not for sale. I will be here till it crumbles. I will spend every second I am offered in this sacred home made for my holy spirit.

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In fact, as these companies offered more and more (simply because they could), they found that demand actually followed supply. The act of vastly increasing choice seemed to unlock demand for that choice. Whether it was latent demand for niche goods that was already there or a creation of new demand, we don't yet know. But what we do know is that the companies for which we have the most complete data - netflix, Amazon, Rhapsody - sales of products not offered by their bricks-and-mortar competitors amounted to between a quarter and nearly half of total revenues - and that percentage is rising each year. in other words, the fastest-growing part of their businesses is sales of products that aren't available in traditional, physical retail stores at all. These infinite-shelf-space businesses have effectively learned a lesson in new math: A very, very big number (the products in the Tail) multiplied by a relatives small number (the sales of each) is still equal to a very, very big number. And, again, that very, very big number is only getting bigger. What's more, these millions of fringe sales are an efficient, cost-effective business. With no shelf space to pay for - and in the case of purely digital services like iTunes, no manufacturing costs and hardly any distribution fees - a niche product sold is just another sale, with the same (or better) margins as a hit. For the first time in history, hits and niches are on equal economic footing, both just entries in a database called up on demand, both equally worthy of being carried. Suddenly, popularity no longer has a monopoly on profitability.

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To get a sense of what I mean by evangelism as the practice of hospitality, visit your local church. Don’t go upstairs, to the sanctuary, go downstairs to that room in the basement with the linoleum tile and the coffee urn. That’s where the AA and NA meetings are held. At its best, Alcoholics Anonymous embodies evangelism as hospitality. They offer an invitation, not a sales pitch. They offer testimony — personal stories — instead of a marketing scheme. They are, in fact and in practice, a bunch of beggars offering other beggars the good news of where they found bread. At its worst, AA sometimes slips into the evangelism-as-sales model. You may have found yourself at some point having a beer when some newly sober 12-step disciple begins lecturing you that this is evidence that you have a problem. He will try to sell you the idea that you are a beggar so he can sell you some bread. The ensuing conversation is tense, awkward and pointless — the precise qualities of the similar conversation you may have had with an evangelical Christian coworker who was reluctantly but dutifully inflicting on you a sales pitch for evangelical Christianity.

Aoyama was no stranger to auditions, having supervised a number of them for TV commercials and PR videos. Sitting in a studio, sizing up a row of fifteen or twenty swimsuit-clad hopefuls, he'd always found words like 'slave trade' and 'auction block' popping into his mind. Of course they weren't slaves, but there was no denying that the women lined up on that little platform, posing in their bikinis, were trying to sell themselves. Buying and selling was the basis of all social intercourse, and the commodity an actor or model offered for sale was nothing less than her own being.

WHAT DOES IT ALL MEAN? The lessons of market history are clear. Styles and fashions in investors’ evaluations of securities can and often do play a critical role in the pricing of securities. The stock market at times conforms well to the castle-in-the-air theory. For this reason, the game of investing can be extremely dangerous. Another lesson that cries out for attention is that investors should be very wary of purchasing today’s hot “new issue.” Most initial public offerings underperform the stock market as a whole. And if you buy the new issue after it begins trading, usually at a higher price, you are even more certain to lose. Investors would be well advised to treat new issues with a healthy dose of skepticism. Certainly investors in the past have built many castles in the air with IPOs. Remember that the major sellers of the stock of IPOs are the managers of the companies themselves. They try to time their sales to coincide with a peak in the prosperity of their companies or with the height of investor enthusiasm for some current fad. In such cases, the urge to get on the bandwagon—even in high-growth industries—produced a profitless prosperity for investors.

Sheepwalking I define “sheepwalking” as the outcome of hiring people who have been raised to be obedient and giving them a brain-dead job and enough fear to keep them in line. You’ve probably encountered someone who is sheepwalking. The TSA “screener” who forces a mom to drink from a bottle of breast milk because any other action is not in the manual. A “customer service” rep who will happily reread a company policy six or seven times but never stop to actually consider what the policy means. A marketing executive who buys millions of dollars’ worth of TV time even though she knows it’s not working—she does it because her boss told her to. It’s ironic but not surprising that in our age of increased reliance on new ideas, rapid change, and innovation, sheepwalking is actually on the rise. That’s because we can no longer rely on machines to do the brain-dead stuff. We’ve mechanized what we could mechanize. What’s left is to cost-reduce the manual labor that must be done by a human. So we write manuals and race to the bottom in our search for the cheapest possible labor. And it’s not surprising that when we go to hire that labor, we search for people who have already been trained to be sheepish. Training a student to be sheepish is a lot easier than the alternative. Teaching to the test, ensuring compliant behavior, and using fear as a motivator are the easiest and fastest ways to get a kid through school. So why does it surprise us that we graduate so many sheep? And graduate school? Since the stakes are higher (opportunity cost, tuition, and the job market), students fall back on what they’ve been taught. To be sheep. Well-educated, of course, but compliant nonetheless. And many organizations go out of their way to hire people that color inside the lines, that demonstrate consistency and compliance. And then they give these people jobs where they are managed via fear. Which leads to sheepwalking. (“I might get fired!”) The fault doesn’t lie with the employee, at least not at first. And of course, the pain is often shouldered by both the employee and the customer. Is it less efficient to pursue the alternative? What happens when you build an organization like W. L. Gore and Associates (makers of Gore-Tex) or the Acumen Fund? At first, it seems crazy. There’s too much overhead, there are too many cats to herd, there is too little predictability, and there is way too much noise. Then, over and over, we see something happen. When you hire amazing people and give them freedom, they do amazing stuff. And the sheepwalkers and their bosses just watch and shake their heads, certain that this is just an exception, and that it is way too risky for their industry or their customer base. I was at a Google conference last month, and I spent some time in a room filled with (pretty newly minted) Google sales reps. I talked to a few of them for a while about the state of the industry. And it broke my heart to discover that they were sheepwalking. Just like the receptionist at a company I visited a week later. She acknowledged that the front office is very slow, and that she just sits there, reading romance novels and waiting. And she’s been doing it for two years. Just like the MBA student I met yesterday who is taking a job at a major packaged-goods company…because they offered her a great salary and promised her a well-known brand. She’s going to stay “for just ten years, then have a baby and leave and start my own gig.…” She’ll get really good at running coupons in the Sunday paper, but not particularly good at solving new problems. What a waste. Step one is to give the problem a name. Done. Step two is for anyone who sees themselves in this mirror to realize that you can always stop. You can always claim the career you deserve merely by refusing to walk down the same path as everyone else just because everyone else is already doing it.

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The public offering occurred exactly one week after Toy Story’s opening. Jobs had gambled that the movie would be successful, and the risky bet paid off, big-time. As with the Apple IPO, a celebration was planned at the San Francisco office of the lead underwriter at 7 a.m., when the shares were to go on sale. The plan had originally been for the first shares to be offered at about $14, to be sure they would sell. Jobs insisted on pricing them at $22, which would give the company more money if the offering was a success. It was, beyond even his wildest hopes. It exceeded Netscape as the biggest IPO of the year. In the first half hour, the stock shot up to $45, and trading had to be delayed because there were too many buy orders. It then went up even further, to $49, before settling back to close the day at $39. Earlier that year Jobs had been hoping to find a buyer for Pixar that would let him merely recoup the $50 million he had put in. By the end of the day the shares he had retained—80% of the company—were worth more than twenty times that, an astonishing $1.2 billion. That was about five times what he’d made when Apple went public in 1980.

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And why, I pray you? Who might be your mother, That you insult, exult, and all at once, Over the wretched? What though you have no beauty— As, by my faith, I see no more in you Than without candle may go dark to bed— Must you be therefore proud and pitiless? Why, what means this? why do you look on me? I see no more in you than in the ordinary Of nature’s sale-work. ’Od’s my little life, I think she means to tangle my eyes too! No, faith, proud mistress, hope not after it. ’Tis not your inky brows, your black silk hair, Your bugle eyeballs, nor your cheek of cream That can entame my spirits to your worship. You foolish shepherd, wherefore do you follow her, Like foggy south, puffing with wind and rain? You are a thousand times a properer man Than she a woman. ’Tis such fools as you That makes the world full of ill-favor’d children. ’Tis not her glass, but you that flatters her, And out of you she sees herself more proper Than any of her lineaments can show her. But, mistress, know yourself, down on your knees, And thank heaven, fasting, for a good man’s love; For I must tell you friendly in your ear, Sell when you can, you are not for all markets. Cry the man mercy, love him, take his offer; Foul is most foul, being foul to be a scoffer. So take her to thee, shepherd. Fare you well.

What’s an IPO, exactly? A company decides it wants to “float” part of its equity on the public markets, allowing employees and founders to sell private shares to pay them off for years of service, as well as sell shares out of the corporate treasury to have some money in the bank. Large investment banks (such as my former employer Goldman Sachs) form what’s called a “syndicate” (“mafia” might be a better term) wherein they offer to effectively buy those shares from Facebook, and then sell them into the capital markets, usually by pushing it via their sales force onto wealthy clients or institutional investors. That syndicate either guarantees a price (“firm commitment”) or promises to get the best price it can (“best effort”). In the former case, the bank is taking real execution risk, and stands to lose money if it doesn’t engineer a “pop” in the stock on opening day. To mitigate the risk, the bank convinces the offering company to expect a lower price, while simultaneously jacking up what real price the market will bear with a zealous sales pitch to the market’s deepest pockets. Thus, it is absolutely jejune to think that a stock’s rise on opening day is due to clamoring and unexpected interest. Similar to Captain Renault in Casablanca, Wall Street bankers are shocked—shocked!—that there should be such a large and positive price dislocation in the market they just rigged.

Launching “Buy It Now” was a large change that touched every transaction, but the eBay team also innovated across the experience for both sellers and buyers as well. With an initial success, we doubled down on innovation to drive growth. We introduced stores on eBay, which dramatically increased the amount of product offered for sale on the platform. We expanded the menu of optional features that sellers could purchase to better highlight their listings on the site. We improved the post-transaction experience on ebay.com by significantly improving the “checkout” flow, including the eventual seamless integration of PayPal on the eBay site. Each of these innovations supported the growth of the business and helped to keep that gravity at bay. Years later, Jeff became a general partner at Andreessen Horowitz, where he would kick off the firm’s success in startups with network effects, investing in Airbnb, Instacart, Pinterest, and others. I’m lucky to work with him! He recounted in an essay on the a16z blog that his strategy was to grow eBay by adding layers and layers of new revenue—like “adding layers to the cake.” You can see it visually here: Figure 12: eBay’s growth layer cake As the core US business began to look more like a line than a hockey stick, international and payments were layered on top. Together, the aggregate business started to look like a hockey stick, but underneath it was actually many new lines of business.

freeze, so she opted for pants with a thick, nubbly sweater that added substance to her frame. As always, her necklace was in place, and she donned a lovely bright cashmere scarf to keep her neck warm. When she stepped back to appraise herself in the mirror, she felt she looked almost as good as she had before chemotherapy started. Collecting her purse, she took a couple more pills—the pain wasn’t as bad as yesterday, but no reason to risk it—and called an Uber. Pulling up to the gallery a few minutes after closing time, she saw Mark through the window, discussing one of her photographs with a couple in their fifties. Mark offered the slightest of waves when Maggie stepped inside and hurried to her office. On her desk was a small stack of mail; she was quickly sorting through it when Mark suddenly tapped on her open door. “Hey, sorry. I thought they’d make a decision before you arrived, but they had a lot of questions.” “And?” “They bought two of your prints.” Amazing, she thought. Early in the life of the gallery, weeks could go by without the sale of even a single print of hers. And while the sales did increase with the growth of her career, the real renown came with her Cancer Videos. Fame did indeed change everything, even if the fame was for a reason she wouldn’t wish upon anyone. Mark walked into the office before suddenly pulling up short. “Wow,” he said. “You look fantastic.” “I’m trying.” “How do you feel?” “I’ve been more tired than usual, so I’ve been sleeping a lot.” “Are you sure you’re still up for this?” She could see the worry in his expression. “It’s Luanne’s gift, so I have to go. And besides, it’ll help me get into the Christmas spirit.

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the ten thousand things To study the self is to forget the self. To forget the self is to be enlightened by the ten thousand things. – Eihei Dogen If one is very fortunate indeed, one comes upon – or is found by – the teachings that match one’s disposition and the teachers or mentors whose expression strikes to the heart while teasing the knots from the mind. The Miriam Louisa character came with a tendency towards contrariness and scepticism, which is probably why she gravitated to teachers who displayed like qualities. It was always evident to me that the ‘blink’ required in order to meet life in its naked suchness was not something to be gained in time. Rather, it was clear that it was something to do with understanding what sabotages this direct engagement. So my teachers were those who deconstructed the spiritual search – and with it the seeker – inviting one to “see for oneself.” I realised early on that I wouldn’t find any help within traditional spiritual institutions since their version of awakening is usually a project in time. Anyway, I’m not a joiner by nature. I set out on my via negativa at an early age, trying on all kinds of philosophies and practices with enthusiasm and casting them aside –neti neti – equally enthusiastically. Chögyam Trungpa wised me up to “spiritual materialism” in the 70s; Alan Watts followed on, pointing out that whatever is being experienced is none other than ‘IT’ – the unarguable aliveness that one IS. By then I was perfectly primed for the questions put by Jiddu Krishnamurti – “Is there a thinker separate from thought?” “Is there an observer separate from the observed?” “Can consciousness be separated from its content?” It was while teaching at Brockwood Park that I also had the good fortune to engage with David Bohm in formal dialogues as well as private conversations. (About which I have written elsewhere.) Krishnamurti and Bohm were seminal teachers for me; I also loved the unique style of deconstruction offered by Nisargadatta Maharaj. As it happened though, it took just one tiny paragraph from Wei Wu Wei to land in my brain at exactly the right time for the irreversible ‘blink’ to occur. I mention this rather august lineage because it explains why the writing of Robert Saltzman strikes not just a chord but an entire symphonic movement for me. We are peers; we were probably reading the same books by Watts and Krishnamurti at the same time during the 70s and 80s. Reading his book, The Ten Thousand Things, is, for me, like feeling my way across a tapestry exquisitely woven from the threads of my own life. I’m not sure that I can adequately express my wonderment and appreciation… The candor, lucidity and lack of jargon in Robert’s writing are deeply refreshing. I also relish his way with words. He knows how to write. He also knows how to take astonishingly fine photographs, and these are featured throughout the book. It’s been said that this book will become a classic, which is a pretty good achievement for someone who isn’t claiming to be a teacher and has nothing to gain by its sale. (The book sells for the production price.) He is not peddling enlightenment. He is simply sharing how it feels to be free from all the spiritual fantasies that obscure our seamless engagement with this miraculous thing called life, right now.