Streaming Market Quotes

Women could probably be trained quite easily to see men first as sexual things. If girls never experienced sexual violence; if a girl's only window on male sexuality were a stream of easily available, well-lit, cheap images of boys slightly older than herself, in their late teens, smiling encouragingly and revealing cuddly erect penises the color of roses or mocha, she might well look at, masturbate to, and, as an adult, "need" beauty pornography based on the bodies of men. And if those initiating penises were represented to the girl as pneumatically erectible, swerving neither left nor right, tasting of cinnamon or forest berries, innocent of random hairs, and ever ready; if they were presented alongside their measurements, length, and circumference to the quarter inch; if they seemed to be available to her with no troublesome personality attached; if her sweet pleasure seemed to be the only reason for them to exist--then a real young man would probably approach the young woman's bed with, to say the least, a failing heart.

5 Ways To Build Your Brand on Social Media: 1 Post content that add value 2 Spread positivity 3 Create steady stream of info 4 Make an impact 5 Be yourself

This market surging with sound of stream slogged by monsoon rain paints its picture with each stroke of speech.

I travelled the old road every day, I took my fruits to the market, my cattle to the meadows, I ferried my boat across the stream and all the ways were well known to me. One morning my basket was heavy with wares. Men were busy in the fields, the pastures crowded with cattle; the breast of earth heaved with the mirth of ripening rice. Suddenly there was a tremor in the air, and the sky seemed to kiss me on my forehead. My mind started up like the morning out of mist. I forgot to follow the track. I stepped a few paces from the path, and my familiar world appeared strange to me, like a flower I had only known in bud. My everyday wisdom was ashamed. I went astray in the fairyland of things. It was the best luck of my life that I lost my path that morning, and found my eternal childhood.

I thought that I would go to Romania and that when I got there I would go to some small town and buy secondhand clothes in the market. Shoes. A blanket. I’d burn everything I owned. My passport. Maybe I’d just put my clothes in the trash. Change money in the street. Then I’d hike into the mountains. Stay off the road. Take no chances. Crossing the ancestral lands by foot. Maybe by night. There are bears and wolves up there. I looked it up. You could have a small fire at night. Maybe find a cave. A mountain stream. I’d have a canteen for water for when the time came that I was too weak to move about. After a while the water would taste extraordinary. It would taste like music. I’d wrap myself in the blanket at night against the cold and watch the bones take shape beneath my skin and I would pray that I might see the truth of the world before I died. Sometimes at night the animals would come to the edge of the fire and move about and their shadows would move among the trees and I would understand that when the last fire was ashes they would come and carry me away and I would be their eucharist. And that would be my life. And I would be happy.

Trade and money, which go together in a stream of energy, inevitably wash away the enclosing walls of a society of status.

Position yourself above the fray, and prospects will be far more approachable than when you’re just another me-too competitor in a crowded sea.

People do not want more noise in their social media streams. They want entertainment, uplifting conversations, and products that last. Most importantly, they want to be taken seriously.

Another hour it would come streaming through the Golden Gate to shroud the romantic city in white, and a young man would hold his girl by the hand and climb slowly up a long white sidewalk with a bottle of Tokay in his pocket. That was Frisco; and beautiful women standing in white doorways, waiting for their men; and Coit Tower, and the Embarcadero, and Market Street, and the eleven teeming hills. I spun around till I was dizzy; I thought I'd fall down as in a dream, clear off the precipice. Oh where is the girl I love? I thought, and looked everywhere, as I had looked everywhere in the little world below. And before me was the great raw bulge and bulk of my American continent; somewhere far across, gloomy, crazy New York was throwing up its cloud of dust and brown steam. There is something brown and holy about the East; and California is white like washlines and emptyheaded -- at least that's what I thought then.

Companies should diversify revenue streams to mitigate risk, enhance resilience, tap into new market opportunities, foster innovation, and ensure long-term sustainability and adaptability in a dynamic business environment.

She was organized, ardently neat, whereas he was the rabbit's wild brother, leaving what looked like the path of an undressing hurricane wherever he went. He dropped his shoes, badger coat, cigarette ash, a dish towel, plant journals, trowels, on the floor behind him, left washed-off mud from potatoes in the sink. Whatever he came upon would be eaten, wrestled with, read, tossed away, the discarded becoming invisible to him. Whatever his wife said about this incorrigible flaw did no good. I suspect, in fact, she took pleasure in suffering his nature. Though give him credit, Mr. Malakite's fields were immaculate. No plant left its bed and wandered off as a 'volunteer'. He scrubbed the radishes under the thin stream of a hose. He spread his wares neatly on the trestle table at the Saturday market.

4. Confusion in the Market Place Indeed it was, for as they approached, Milo could see crowds of people pushing and shouting their way among the stalls, buying and selling, trading and bargaining. Huge wooden-wheeled carts streamed into the market square from the orchards, and long caravans bound for the four corners of the kingdom made ready to leave. Sacks and boxes were piled high waiting to be delivered to the ships that sailed the Sea of Knowledge, and off to one side a group of minstrels sang songs to the delight of those either too young or too old to engage in trade. But above all the noise and tumult of the crowd could be heard the merchants’ voices loudly advertising their products. “Get your fresh-picked ifs, ands, and buts.” “Hey-yaa, hey-yaa, hey-yaa, nice ripe wheres and whens.” “Juicy, tempting words for sale.

When we have made our love and gamed our gaming,   Drest, voted, shone, and maybe something more; With dandies dined, heard senators declaiming,   Seen beauties brought to market by the score, Sad rakes to sadder husbands chastely taming,   There’s little left but to be bored or bore. Witness those ci-devant jeunes hommes who stem The stream, nor leave the world which leaveth them.

For a brief period of time the American electric-sign industry looked beyond its most immediate market and collaborated with store designers and architects in creating a style which became known as 'stream-line.' Later it became known as 'American Déco.' Whatever it was called or will be called in the future, it represents in terms of neon a thrust away from isolated signage toward an area of architectural ornamentation in which signage is but one element in an overall plan. — Rudi Stern

The most important thing for any business is marketing and sales.

You do me too much honor,” she said, smile widening. “And if you were coming to see about that debt,” she went on, eyes bright, “you should know that it has recently been paid.” Kell’s chest tightened. “What? When?” “Indeed,” continued Calla. “Only a few minutes ago.” Kell didn’t even say good-bye. He lunged out of the tent and into the churning market, scanning the currents of people streaming past.

He looked past Chin toward streams of numbers running in opposite directions. He understood how much it meant to him, the roll and flip of data on a screen. He studied the figural diagrams that brought organic patterns into play, birdwing and chambered shell. It was shallow thinking to maintain that numbers and charts were the cold compression of unruly human energies, every sort of yearning and midnight sweat reduced to lucid units in the financial markets. "In fact data itself was soulful and glowing, a dynamic aspect of the life process. This was the eloquence of alphabets and numeric systems, now fully realized in electronic form, in the zero-oneness of the world, the digital imperative that defined every breath of the planet's living billions. Here was the heave of the biosphere. Our bodies and oceans were here, knowable and whole.

The old woman sits on a bench before the door and quarrels With her meagre pale demoralized daughter. Once when I passed I found her alone, laughing in the sun And saying that when she was first married She lived in the old farmhouse up Garapatas Canyon. (It is empty now, the roof has fallen But the log walls hang on the stone foundation; the redwoods Have all been cut down, the oaks are standing; The place is now more solitary than ever before.) "When I was nursing my second baby My husband found a day-old fawn hid in a fern-brake And brought it; I put its mouth to the breast Rather than let it starve, I had milk enough for three babies. Hey how it sucked, the little nuzzler, Digging its little hoofs like quills into my stomach. I had more joy from that than from the others." Her face is deformed with age, furrowed like a bad road With market-wagons, mean cares and decay. She is thrown up to the surface of things, a cell of dry skin Soon to be shed from the earth's old eye-brows, I see that once in her spring she lived in the streaming arteries, The stir of the world, the music of the mountain.

With this last adherent, Florence hurried away in the advancing morning, and the strengthening sunshine, to the City. The roar soon grew more loud, the passengers more numerous, the shops more busy, until she was carried onward in a stream of life setting that way, and flowing, indifferently, past marts and mansions, prisons, churches, market-places, wealth, poverty, good, and evil, like the broad river, side by side with it, awakened from its dreams of rushes, willows, and green moss, and rolling on, turbid and troubled, among the works and cares of men, to the deep sea.

But in the end we found it impossible to ignore the impassioned pleas of the Lost City of White Male Privilege, a controversial municipality whose very existence is often denied by many (mostly privileged white males). Others state categorically that the walls of the locale have been irreparably breached by hip-hop and Roberto Bolaño’s prose. That the popularity of the spicy tuna roll and a black American president were to white male domination what the smallpox blankets were to Native American existence. Those inclined to believe in free will and the free market argue that the Lost City of White Male Privilege was responsible for its own demise, that the constant stream of contradictory religious and secular edicts from on high confused the highly impressionable white male. Reduced him to a state of such severe social and psychic anxiety that he stopped fucking. Stopped voting. Stopped reading. And, most important, stopped thinking that he was the end-all, be-all, or at least knew enough to pretend not to be so in public. But in any case, it became impossible to walk the streets of the Lost City of White Male Privilege, feeding your ego by reciting mythological truisms like “We built this country!” when all around you brown men were constantly hammering and nailing, cooking world-class French meals, and repairing your cars. You couldn’t shout “America, love it or leave it!” when deep down inside you longed to live in Toronto.

Over the years I have read many, many books about the future, my ‘we’re all doomed’ books, as Connie liked to call them. ‘All the books you read are either about how grim the past was or how gruesome the future will be. It might not be that way, Douglas. Things might turn out all right.’ But these were well-researched, plausible studies, their conclusions highly persuasive, and I could become quite voluble on the subject. Take, for instance, the fate of the middle-class, into which Albie and I were born and to which Connie now belongs, albeit with some protest. In book after book I read that the middle-class are doomed. Globalisation and technology have already cut a swathe through previously secure professions, and 3D printing technology will soon wipe out the last of the manufacturing industries. The internet won’t replace those jobs, and what place for the middle-classes if twelve people can run a giant corporation? I’m no communist firebrand, but even the most rabid free-marketeer would concede that market-forces capitalism, instead of spreading wealth and security throughout the population, has grotesquely magnified the gulf between rich and poor, forcing a global workforce into dangerous, unregulated, insecure low-paid labour while rewarding only a tiny elite of businessmen and technocrats. So-called ‘secure’ professions seem less and less so; first it was the miners and the ship- and steel-workers, soon it will be the bank clerks, the librarians, the teachers, the shop-owners, the supermarket check-out staff. The scientists might survive if it’s the right type of science, but where do all the taxi-drivers in the world go when the taxis drive themselves? How do they feed their children or heat their homes and what happens when frustration turns to anger? Throw in terrorism, the seemingly insoluble problem of religious fundamentalism, the rise of the extreme right-wing, under-employed youth and the under-pensioned elderly, fragile and corrupt banking systems, the inadequacy of the health and care systems to cope with vast numbers of the sick and old, the environmental repercussions of unprecedented factory-farming, the battle for finite resources of food, water, gas and oil, the changing course of the Gulf Stream, destruction of the biosphere and the statistical probability of a global pandemic, and there really is no reason why anyone should sleep soundly ever again. By the time Albie is my age I will be long gone, or, best-case scenario, barricaded into my living module with enough rations to see out my days. But outside, I imagine vast, unregulated factories where workers count themselves lucky to toil through eighteen-hour days for less than a living wage before pulling on their gas masks to fight their way through the unemployed masses who are bartering with the mutated chickens and old tin-cans that they use for currency, those lucky workers returning to tiny, overcrowded shacks in a vast megalopolis where a tree is never seen, the air is thick with police drones, where car-bomb explosions, typhoons and freak hailstorms are so commonplace as to barely be remarked upon. Meanwhile, in literally gilded towers miles above the carcinogenic smog, the privileged 1 per cent of businessmen, celebrities and entrepreneurs look down through bullet-proof windows, accept cocktails in strange glasses from the robot waiters hovering nearby and laugh their tinkling laughs and somewhere, down there in that hellish, stewing mess of violence, poverty and desperation, is my son, Albie Petersen, a wandering minstrel with his guitar and his keen interest in photography, still refusing to wear a decent coat.

All of Berleburg's streets slanted away from the palace like rays of the sun, fell downhill to the Odeborn Creek, and turned into the market square. Even now, in February, the center of the stream ran free, water rushing by, smelling of greenness, past banks thick with cattails, rimed with ice. A rooster crowed as the town awakened, stoked its fires, fried its sausage.

There's no "get rich quick." There's no "overnight success." However, this doesn't mean that when you decide to start a business that you're just starting. You could start making new money tomorrow. I was fishing with my son and taught him that you can't catch a fish unless your line is in the water. A truth my dad once taught me. You may have spent years learning a skill or creating a product or service that you just simply haven't thought to monetize. Like leaving a fishing pole on the ground along side the river, but not having your line in the water yet. All you need to create a new stream of income is to make something consumable and offer it at a price that someone will pay. If you're not making offers, you're not making money. Get your line in the water!

The Copse at Hurstbourne is one of those fancy-sounding titles for a brand-new tract of condominiums on the outskirts of town. 'Copse' as in 'a thicket of small trees.' 'Hurst' as in 'hillock, knoll, or mound.' And 'bourne' as in 'brook or stream.' All of these geological and botanical wonders did seem to conjoin within the twenty parcels of the development, but it was hard to understand why it couldn't have just been called Shady Acres, which is what it was. Apparently people aren't willing to pay a hundred and fifty thousand dollars for a home that doesn't sound like it's part of an Anglo-Saxon land grant. These often quite utilitarian dwellings are never named after Jews or Mexicans. Try marketing Rancho Feinstein if you want to lose money in a hurry. Or Paco Sanchez Park. Middle-class Americans aspire to tone, which is equated, absurdly, with the British gentry.

What have they fixed?” asked former McKinsey consultant Michael Lanning. “What have they changed? Did they take any voice in the way banking has evolved in the past thirty years? They did study after study at GM, and that place needed the most radical kind of change you can imagine. The place was dead, and it was just going to take a long time for the body to die unless they changed how they operated. McKinsey was in there with huge teams, charging huge fees, for several decades. And look where GM came out.”13 In the end, all the GM work did was provide a revenue stream to enrich a group of McKinsey partners, especially those working with the automaker. The last time McKinsey was influential at Apple Computer was when John Sculley was there, and that’s because he’d had a brand-marketing heritage from Pepsi. And Sculley was a disaster. Did McKinsey do anything to help the great companies of today become what they are? Amazon, Microsoft, Google? In short, no.

He wore bottle-thick spectacles. His ox-like stature made him distinct. He had a long lowland “badger coat,” made out of several skins, which smelled of bracken, sometimes of earthworms. And he and his wife were my watched example of marital stability. His wife no doubt felt I lingered around too much. She was organized, ardently neat, whereas he was the rabbit’s wild brother, leaving what looked like the path of an undressing hurricane wherever he went. He dropped his shoes, badger coat, cigarette ash, a dish towel, plant journals, trowels, on the floor behind him, left washed-off mud from potatoes in the sink. Whatever he came upon would be eaten, wrestled with, read, tossed away, the discarded becoming invisible to him. Whatever his wife said about this incorrigible flaw did no good. I suspect, in fact, she took pleasure in suffering his nature. Though give him credit, Mr. Malakite’s fields were immaculate. No plant left its bed and wandered off as a “volunteer.” He scrubbed the radishes under the thin stream of a hose. He spread his wares neatly on the trestle table at the Saturday market

Just a few nights ago the roaring fire prompted a conversation about Gaston Bachelard's Psychoanalysis of Fire,' I said to Foucault. 'Did you by any chance know Bachelard?' 'Yes, I did,' Foucault responded. 'He was my teacher and exerted a great influence upon me.' 'I can just visualize Bachelard musing before his hearth and devising the startling thesis that mankind tamed fire to stimulate his daydreaming, that man is fundamentally the dreaming animal.' 'Not really,' Foucault blurted out. 'Bachelard probably never saw a fireplace or ever listened to water streaming down a mountainside. With him it was all a dream. He lived very ascetically in a cramped two-room flat he shared with his sister.' 'I have read somewhere that he was a gourmet and would shop every day in the street markets to get the freshest produce for his dinner.' 'Well, he undoubtedly shopped in the outdoor markets,' Foucault responded impatiently, 'but his cuisine, like his regimen, was very plain. He led a simple life and existed in his dream.' 'Do you shop in the outdoor markets in Paris?' Jake asked Michel. 'No,' Foucault laughed, 'I just go to the supermarket down the street from where I live.

Simply put, within AS, there is a wide range of function. In truth, many AS people will never receive a diagnosis. They will continue to live with other labels or no label at all. At their best, they will be the eccentrics who wow us with their unusual habits and stream-of-consciousness creativity, the inventors who give us wonderfully unique gadgets that whiz and whirl and make our life surprisingly more manageable, the geniuses who discover new mathematical equations, the great musicians and writers and artists who enliven our lives. At their most neutral, they will be the loners who never now quite how to greet us, the aloof who aren't sure they want to greet us, the collectors who know everyone at the flea market by name and date of birth, the non-conformists who cover their cars in bumper stickers, a few of the professors everyone has in college. At their most noticeable, they will be the lost souls who invade our personal space, the regulars at every diner who carry on complete conversations with the group ten tables away, the people who sound suspiciously like robots, the characters who insist they wear the same socks and eat the same breakfast day in and day out, the people who never quite find their way but never quite lose it either.

The medium of the debate has also changed the nature of the debate. Advertisements for hair dryers, news about pop stars, stories about the bond market, notes from our friends, and far-right memes arrive in a constant stream on our telephones or computers, each one apparently carrying the same weight and importance. If, in the past, most political conversations took place in a legislative chamber, the columns of a newspaper, a television studio, or a bar, now they often take place online, in a virtual reality where readers and writers feel distant from one another and from the issues they describe, where everyone can be anonymous and no one needs to take responsibility for what they say.

When I woke up, sunlight was streaming through the windows in my suite. There was a lipstick-smeared drool stain on the Frette linens. And someone was . . . shouting. Wait, what? I turned my heavy head. The Vice President of Marketing was in my room—yelling at me! “AHHHHH!” I was nearly naked! I fumbled for the duvet. “You missed breakfast!” The Vice President of Marketing was bugging. Behind her was a male hotel employee with a key card. “We’ve been calling and calling!” “I overslept!” I cried. “Why are you in my room? Can you give me some fucking privacy? You can’t just bust in on people!” I knew I shouldn’t talk to one of Lucky’s biggest advertisers this way, but I was pissed. I may have been a drug addict, but I had my dignity! You know?

Bodean James Gazzer had spent thirty-one years perfecting the art of assigning blame. His personal credo - everything bad that happens is someone else's fault - could, with imagination, be stretched to fit any circumstance. Bode stretched it. The intestinal unrest that occasionally afflicted him surely was the result of drinking milk taken from secretly radiated cows. The roaches in his apartment were planted by his filthy immigrant next-door neighbors. His dire financial plight was caused by runaway bank computers and conniving Wall Street Zionists; his bad luck in the South Florida job market, prejudice against English-speaking applicants. Even the lousy weather had a culprit: air pollution from Canada, diluting the ozone and derailing the jet stream

Hey Pete. So why the leave from social media? You are an activist, right? It seems like this decision is counterproductive to your message and work." A: The short answer is I’m tired of the endless narcissism inherent to the medium. In the commercial society we have, coupled with the consequential sense of insecurity people feel, as they impulsively “package themselves” for public consumption, the expression most dominant in all of this - is vanity. And I find that disheartening, annoying and dangerous. It is a form of cultural violence in many respects. However, please note the difference - that I work to promote just that – a message/idea – not myself… and I honestly loath people who today just promote themselves for the sake of themselves. A sea of humans who have been conditioned into viewing who they are – as how they are seen online. Think about that for a moment. Social identity theory run amok. People have been conditioned to think “they are” how “others see them”. We live in an increasing fictional reality where people are now not only people – they are digital symbols. And those symbols become more important as a matter of “marketing” than people’s true personality. Now, one could argue that social perception has always had a communicative symbolism, even before the computer age. But nooooooothing like today. Social media has become a social prison and a strong means of social control, in fact. Beyond that, as most know, social media is literally designed like a drug. And it acts like it as people get more and more addicted to being seen and addicted to molding the way they want the world to view them – no matter how false the image (If there is any word that defines peoples’ behavior here – it is pretention). Dopamine fires upon recognition and, coupled with cell phone culture, we now have a sea of people in zombie like trances looking at their phones (literally) thousands of times a day, merging their direct, true interpersonal social reality with a virtual “social media” one. No one can read anymore... they just swipe a stream of 200 character headlines/posts/tweets. understanding the world as an aggregate of those fragmented sentences. Massive loss of comprehension happening, replaced by usually agreeable, "in-bubble" views - hence an actual loss of variety. So again, this isn’t to say non-commercial focused social media doesn’t have positive purposes, such as with activism at times. But, on the whole, it merely amplifies a general value system disorder of a “LOOK AT ME! LOOK AT HOW GREAT I AM!” – rooted in systemic insecurity. People lying to themselves, drawing meaningless satisfaction from superficial responses from a sea of avatars. And it’s no surprise. Market economics demands people self promote shamelessly, coupled with the arbitrary constructs of beauty and success that have also resulted. People see status in certain things and, directly or pathologically, use those things for their own narcissistic advantage. Think of those endless status pics of people rock climbing, or hanging out on a stunning beach or showing off their new trophy girl-friend, etc. It goes on and on and worse the general public generally likes it, seeking to imitate those images/symbols to amplify their own false status. Hence the endless feedback loop of superficiality. And people wonder why youth suicides have risen… a young woman looking at a model of perfection set by her peers, without proper knowledge of the medium, can be made to feel inferior far more dramatically than the typical body image problems associated to traditional advertising. That is just one example of the cultural violence inherent. The entire industry of social media is BASED on narcissistic status promotion and narrow self-interest. That is the emotion/intent that creates the billions and billions in revenue these platforms experience, as they in turn sell off people’s personal data to advertisers and governments. You are the product, of course.

Why doesn’t all the money go to the writer, I hear you (and indeed myself) asking. Well, maybe it will if he’s happy just to drop his words into the digital ocean in the hope that someone out there will find them. But like any ocean, the digital one has streams and eddies and currents, and publishers will quickly have a role finding good material to draw into those currents where readers will naturally be streaming through looking for stuff, which is more or less what they do at the moment. The difference will lie in the responsiveness of the market, the speed with which those streams will shift and surge, and the way in which power and control will shift to those who are actually contributing something useful rather than just having lunch. The thing we leave out of the model is, essentially, just a lot of dead wood.

ASITA AWOKE in the forest thinking about demons. He hadn’t for many years. He could remember glimpsing one or two in the past, on the fringes of a famine or a battle, wherever bodies were being harvested. He knew the misery they caused, but misery was no longer Asita’s concern. He had been a forest hermit for fifty years. The affairs of the world had been kept far away, and he passed whole days in a hidden cave when he retreated even from the affairs of animals, much less those of men. Now Asita knelt by a stream and considered. He distinctly saw demons in his mind’s eye. They had first appeared in the dappled sunlight that fell on his eyelids at dawn. Asita slept on boughs strewn over the bare ground, and he liked the play of light and shadow across his eyes in the early morning. His imagination freely saw shapes that reminded him of the market village where he grew up. He could see hawking merchants, women balancing water jugs on their heads, camels and cara-vans—anything, really—on the screen of his closed eyes. But never demons, not before this morning. Asita walked into the nearly freezing mountain stream, his body naked except for a loincloth. As an ascetic, he did not wear clothes, not even the robes of a monastic order. Lately he had felt an impulse to travel very high, nearly in sight of the snowcapped peaks on the north-ern border of the Sakya kingdom. Which put him close to other lokas,worlds apart from Earth. Every mortal is confined to the Earth plane, but like the dense air of the jungle tapering gradually into the thin atmosphere of the mountains, the material world ta-pered off into subtler and subtler worlds. Devas had their own lokas, as did the gods and demons. Ancestors dwelt in a loka set apart for spirits in transition from one lifetime to the next.

Book authors are in high demand for speaking engagements and appearances; they are the new ‘celebrity’ and celebrities gain access. Authors not only make money from royalties or book advances but from their keynotes, presentations and strategically branded product lines. This includes entrepreneurial ideas for you to extend yourself beyond just writing and prepares you to add speaking and consulting to your revenue stream. You have to begin to look outside book sales and towards the speaking market. There are radio, interviews, news, television, small channel television keynotes, lectures, seminars and workshops. These types of events have the possibility to be much more lucrative than just selling books. In essence, the book builds and brands you in the public eye. It gives you credibility and the opportunity to be more than you are. It enables you to now be a voice, a teacher, a leader, an expert - after all, you wrote the book on it!

The rapid growth of Message- combined with an outpouring of florists offering consultations in the language of flowers to the streams of brides Marlena and I turned away- caused a subtle but concrete shift in the Bay Area flower industry. Marlena reported that peony, marigold, and lavender lingered in their plastic buckets at the flower market while tulips, lilac, and passionflower sold out before the sun rose. For the first time anyone could remember, jonquil became available long after its natural bloom season had ended. By the end of July, bold brides carried ceramic bowls of strawberries or fragrant clusters of fennel, and no one questioned their aesthetics but rather marveled at the simplicity of their desire. If the trajectory continued, I realized, Message would alter the quantities of anger, grief, and mistrust growing in the earth on a massive scale. Farmers would uproot fields of foxglove to plant yarrow, the soft clusters of pink, yellow, and cream the cure to a broken heart. The prices of sage, ranunculus, and stock would steadily increase. Plum trees would be planted for the sole purpose of harvesting their delicate, clustered blossoms and sunflowers would fall permanently out of fashion, disappearing from flower stands, craft stores, and country kitchens. Thistle would be cleared compulsively from empty lots and overgrown gardens.

Then--as it had every season of my life--it started to rain blue. Keeping one hand firmly in Akos’s, I turned my other palm to catch some of the blue. It was dark, and wherever it rolled across my skin, it left a faint stain. The people at the end of the alley were laughing and smiling and singing and swaying. Akos’s chin was tipped back. He gazed at the ship’s belly, and then at his hand, at the blue rolling over his knuckles. His eyes met mine. I was laughing. “Blue is our favorite color,” I said. “The color of the currentstream when we scavenge.” “When I was a child,” he replied wonderingly, “it was my favorite color, too, though all of Thuvhe hates it.” I took the palmful of blue water I had collected, and smeared it into his cheek, staining it darker. Akos spluttered, spitting some of it on the ground. I raised my eyebrows, waiting for his reaction. He stuck out his hand, catching a stream of water rolling off a building’s roof, and lunged at me. I sprinted down the alley, not fast enough to avoid the cold water rolling down my back, with a childlike shriek. I caught his arm by the elbow, and we ran together, through the singing crowd, past swaying elders, men and women dancing too close, irritable off-planet visitors trying to cover up their wares in the market. We splashed through bright blue puddles, soaking our clothes. And we were both, for once, laughing.

Standing at the prow of the pitching deck of the trawler, unscrewing the top of his flask, Frank Fontaine asked himself: Am I after fish—or a wild goose? Sure, he always dreamed about a big-paying long con, but this one was threatening to go on indefinitely—and though it was afternoon and supposedly summer, it was cold as a son of a bitch out here. Made a witch’s tit seem like a hot toddy. Was it worth giving up Gorland—becoming Fontaine? A city under the sea. It was becoming an obsession. Fontaine looked up at the streaming charcoal-colored clouds, wondered if it was going to storm again. Just being on this damn tub was too much like work. Talking to the men who picked up the fish for Rapture’s food supply, Fontaine had confirmed that Ryan had indeed built some gigantic underwater habitat, a kind of free-market utopia—and Fontaine knew what happened with utopias. Look at the Soviets—all those fine words about the proletariat had turned into gulags and breadlines. But a “utopia” was pure opportunity for a man like him. When this undersea utopia fell apart, he’d be there, with a whole society to feast on. Long as he didn’t step too hard on Ryan’s toes, he could build up an organization, get away with a pile of loot. But he had to get down to Rapture first … The trawler lurched, and so did Fontaine’s stomach. A small craft was being lowered over the side of the platform ship—a thirty-foot gig. Men descended

a young Goldman Sachs banker named Joseph Park was sitting in his apartment, frustrated at the effort required to get access to entertainment. Why should he trek all the way to Blockbuster to rent a movie? He should just be able to open a website, pick out a movie, and have it delivered to his door. Despite raising around $250 million, Kozmo, the company Park founded, went bankrupt in 2001. His biggest mistake was making a brash promise for one-hour delivery of virtually anything, and investing in building national operations to support growth that never happened. One study of over three thousand startups indicates that roughly three out of every four fail because of premature scaling—making investments that the market isn’t yet ready to support. Had Park proceeded more slowly, he might have noticed that with the current technology available, one-hour delivery was an impractical and low-margin business. There was, however, a tremendous demand for online movie rentals. Netflix was just then getting off the ground, and Kozmo might have been able to compete in the area of mail-order rentals and then online movie streaming. Later, he might have been able to capitalize on technological changes that made it possible for Instacart to build a logistics operation that made one-hour grocery delivery scalable and profitable. Since the market is more defined when settlers enter, they can focus on providing superior quality instead of deliberating about what to offer in the first place. “Wouldn’t you rather be second or third and see how the guy in first did, and then . . . improve it?” Malcolm Gladwell asked in an interview. “When ideas get really complicated, and when the world gets complicated, it’s foolish to think the person who’s first can work it all out,” Gladwell remarked. “Most good things, it takes a long time to figure them out.”* Second, there’s reason to believe that the kinds of people who choose to be late movers may be better suited to succeed. Risk seekers are drawn to being first, and they’re prone to making impulsive decisions. Meanwhile, more risk-averse entrepreneurs watch from the sidelines, waiting for the right opportunity and balancing their risk portfolios before entering. In a study of software startups, strategy researchers Elizabeth Pontikes and William Barnett find that when entrepreneurs rush to follow the crowd into hyped markets, their startups are less likely to survive and grow. When entrepreneurs wait for the market to cool down, they have higher odds of success: “Nonconformists . . . that buck the trend are most likely to stay in the market, receive funding, and ultimately go public.” Third, along with being less recklessly ambitious, settlers can improve upon competitors’ technology to make products better. When you’re the first to market, you have to make all the mistakes yourself. Meanwhile, settlers can watch and learn from your errors. “Moving first is a tactic, not a goal,” Peter Thiel writes in Zero to One; “being the first mover doesn’t do you any good if someone else comes along and unseats you.” Fourth, whereas pioneers tend to get stuck in their early offerings, settlers can observe market changes and shifting consumer tastes and adjust accordingly. In a study of the U.S. automobile industry over nearly a century, pioneers had lower survival rates because they struggled to establish legitimacy, developed routines that didn’t fit the market, and became obsolete as consumer needs clarified. Settlers also have the luxury of waiting for the market to be ready. When Warby Parker launched, e-commerce companies had been thriving for more than a decade, though other companies had tried selling glasses online with little success. “There’s no way it would have worked before,” Neil Blumenthal tells me. “We had to wait for Amazon, Zappos, and Blue Nile to get people comfortable buying products they typically wouldn’t order online.

Tolkien, then, was a philologist before he was a mythologist, and a mythologist, at least in intention, before he ever became a writer of fantasy fiction. His beliefs about language and about mythology were sometimes original and sometimes extreme, but never irrational, and he was able to express them perfectly clearly. In the end he decided to express them not through abstract argument, but by demonstration, and the success of the demonstration has gone a long way to showing that he did often have a point: especially in his belief, which I share, that a taste for philology, for the history of language in all its forms, names and place-names included, is much more widespread in the population at large than educators and arbiters of taste like to think. In his 1959 ‘Valedictory Address to the University of Oxford’ (reprinted in Essays, pp. 224-40), Tolkien concluded that the problem lay not with the philologists nor with those they taught but with what he called ‘misologists’ – haters of the word. There would be no harm in them if they simply concluded language study was not for them, out of dullness or ignorance. But what he felt, Tolkien said, was: "grievance that certain professional persons should suppose their dullness and ignorance to be a human norm; and anger when they have sought to impose the limitation of their minds upon younger minds, dissuading those with philological curiosity from their bent, encouraging those without this interest to believe that their lack marked them as minds of a superior order." Behind this grievance and this anger was, of course, failure and defeat. It is now very hard to pursue a course of philology of the kind Tolkien would have approved in any British or American university. The misologists won, in the academic world; as did the realists, the modernists, the post-modernists, the despisers of fantasy. But they lost outside the academic world. It is not long since I heard the commissioning editor of a major publishing house say, ‘Only fantasy is mass-market. Everything else is cult-fiction.’ (Reflective pause.) ‘That includes main-stream.’ He was defending his own buying strategy, and doubtless exaggerating, but there is a good deal of hard evidence to support him. Tolkien cried out to be heard, and we have still to find out what he was saying. There should be no doubt, though, that he found listeners, and that they found whatever he was saying worth their while.

Kiip’s move comes at a time when more and more data on people’s actions is becoming available as wearable devices, Internet-connected home automation equipment, and cars with integrated data connections head to market. Those new data streams could form the basis for many new services and products, but they also bring new privacy concerns. Ads tailored to driving behavior will be possible thanks to a partnership between Kiip and fellow startup Mojio. It expects to launch a $149 device this summer that plugs into a car’s diagnostic port and streams vehicle data to a smartphone app to help users track their driving, their fuel economy, and their vehicle’s maintenance status. Kiip will use data from that device to target promotions inside the Mojio app.

Plain and simple, marketing is about nothing more than getting your product or service in front of likely buyers in a positively memorable way. Although there have been thousands of books written about marketing, that really is all that it’s about. When starting a business or growing your existing business, you must come to grips with the fact that marketing is SUPER IMPORTANT. In fact without effective marketing and a steady stream of customers, nothing else about your business really matters. The fancy LLC you just setup doesn’t matter. The super-detailed “Operating Agreement” doesn’t matter. The S-Corp you formed doesn’t matter and the new office space you just built out doesn’t matter either. Poor marketing makes people poor. Great marketing makes people rich.

Although a partner’s compensation depends in large part on the amount of business he brings to the Firm, no one goes out to knock on doors. The Firm waits for the phone to ring. And ring it does, not because McKinsey sells, but because McKinsey markets. It does this in several different ways, all of them designed to make sure that on the day a senior executive decides she has a business problem, one of the first calls she makes is to the local office of McKinsey. The Firm produces a steady stream of books and articles, some of them extremely influential, such as the famous In Search of Excellence by Peters and Waterman.* McKinsey also publishes its own scholarly journal, The McKinsey Quarterly, which it sends gratis to its clients, as well as to its former consultants, many of whom now occupy senior positions at potential clients. The Firm invites (and gets) a lot of coverage by journalists. Many McKinsey partners and directors are internationally known as experts in their fields.

Catching someone's attention and being heard amid this streaming torrent of information is the greatest challenge of contemporary marketing.

Countries competing against one another in the same array of products and services is not covered by Ricardian trade theory.   Offshoring doesn’t fit the Ricardian or the competitive idea of free trade. In fact, offshoring is not trade.   Offshoring is the practice of a firm relocating its production of goods or services for its home market to a foreign country. When an American firm moves production offshore, US GDP declines by the amount of the offshored production, and foreign GDP increases by that amount. Employment and consumer income decline in the US and rise abroad. The US tax base shrinks, resulting in reductions in public services or in higher taxes or a switch from tax finance to bond finance and higher debt service cost.   When the offshored production comes back to the US to be marketed, the US trade deficit increases dollar for dollar. The trade deficit is financed by turning over to foreigners US assets and their future income streams. Profits, dividends, interest, capital gains, rents, and tolls from leased toll roads now flow from American pockets to foreign pockets, thus worsening the current account deficit as well.   Who benefits from these income losses suffered by Americans? Clearly, the beneficiary is the foreign country to which the production is moved. The other prominent beneficiaries are the shareholders and the executives of the companies that offshore production. The lower labor costs raise profits, the share price, and the “performance bonuses” of corporate management.   Offshoring’s proponents claim that the lost incomes from job losses are offset by benefits to consumers from lower prices. Allegedly, the harm done to those who lose their jobs is more than offset by the benefit consumers in general get from the alleged lower prices. Yet, proponents are unable to cite studies that support this claim. The claim is based on the unexamined assumption that offshoring is free trade and, thereby, mutually beneficial.   Proponents of jobs offshoring also claim that the Americans who are left unemployed soon find equal or better jobs. This claim is based on the assumption that the demand for labor ensures full employment, and that people whose jobs have been moved abroad can be retrained for new jobs that are equal to or better than the jobs that were lost.   This claim is false.

When faith goes to the market, it always takes a basket.

You shouldn't confuse “stock trading” with “stock investing.” The former requires the stockholder to purchase, hold, or sell stocks to earn profits. The latter, on the other hand, allows the stockholder to get a regular stream of income just by acquiring stocks.   Trading stocks can help you reap large profits on a daily basis. If you will purchase or sell the right stocks, you can secure huge revenues every day. Here, you won't have to study corporations deeply. You just have to observe the trends in the stock market, make some predictions, and purchase or sell stocks according to your predictions.

Ask an Englishman how wealthy someone is, and you’re likely to hear a response like, “He’s worth 20,000 per year.” This sort of answer usually confuses us less sophisticated Yanks, but it’s an estimable response, because it says something profound about wealth: it does not consist of inert assets but, instead, a stream of income. In other words, if you own an orchard, its value is defined not by its trees and land but, rather, by the income it produces. The worth of an apartment house is not what it will fetch in the market, but the value of its future cash flow. What about your own house? Its value is the shelter and pleasure it provides you over the years. The

During the two-day I/O convention, Google will have more than 600 live-streaming events. There will be sessions on family-friendly apps, on extending Android into the car and on home automation. Some analysts expect Google to address the future of Google Glass, a wearable device that struggled to win public support. A Google spokeswoman declined to say what the keynote speech would discuss. But Nguyen said he believes Android will remain a major player because of its reach in emerging markets - and its affordability. Not all markets have customers who can afford the iPhone, he said.

The ‘dreamers’ are almost never successful. It’s the people who are willing to roll up their sleeves, the ‘doers’, who get real results.

Some of these tasks are interesting. Tinkering with machines is fun. Marketing decisions, especially how to manage the Web site and AdWords, are an intellectual challenge. Some are unpleasant but lead to a satisfying conclusion, like nagging customers for past-due payments. (They've always paid me, eventually.) Some are frightening, I can change an employee's life with my decisions about pay rates and whether to hire and fire. And many are just aggravating: the taxes, insurance purchases, legal issues, and some of the employee interactions. Each layer of government, each enormous and indifferent private bureaucracy, requires its own special knowledge: the right form filled out the correct way and filed at the right time. Learning how to complete on type of tax filing tells you nothing whatsoever about how to fill out the next form. One health insurer presents a quote one way, another in an entirely different way, and both require extensive study to determine the best choice. It's like stepping back to an old, old world where every tree, every rock, every stream is inhabited by its own resident spirit, and each needs to be mollified in the correct manner. Or very bad things happen. I didn't start my company to do any of this. I had no idea, when I decided that I would make furniture in exchange for money, that this was in my future. And the strange universe of administration expands as the company grows.

The key is having a system that attracts your ideal clients, and works them through a process that culminates with them booking a time to speak with you. Whether you call it a consultation, a strategy session, a sales call, or an appointment, we’re all talkin’ about the same thing.

cannot stress enough the importance of guaranteed lifetime income to your happiness in retirement. Knowing that you will have an income – regardless of what happens in the market – is going to make you less stressed. In turn, that will help to keep you happier and healthier overall. What Else Will You Do in Retirement? Once you have a regular stream of income nailed down, you will be able to enjoy everything else that retirement has to offer. But this time in your life won't come without its other challenges. That's why it is important to have a plan that goes beyond just the immediate financial aspects of retirement. You will need to factor in other items to keep up your happiness in retirement: Keeping On Track With a Purpose – Once you retire, you may feel that you've lost your purpose. You may have felt a strong sense of association to your employer or career and now, suddenly, being away from it may make you feel at a loss. Therefore, be sure that you've made plans to fill your time, such as travel, volunteering, or even a new career.

It is the only financial vehicle on the planet that can give you the following: • 100% guarantee on your deposits.17 (You can’t lose your money, and you keep total control.) • Upside without the downside: your account value growth will be tied to the market, so if the market goes up, you get to participate in the gains. But if the market goes down, you don’t lose a dime. • Tax deferral on your growth. (Remember the dollar-doubling example? Tax efficiency was the difference between having $28,466 or more than $1 million!) • A guaranteed lifetime income stream where you have control and get to decide when to turn it on. • Get this: the income payments can be made tax-free if structured correctly. • No annual management fees.

Deaths from P-type loonshots tend to be quick and dramatic. A flashy new technology appears (streaming video), it quickly displaces what came before (rentals), champions emerge (Netflix, Amazon), and the old guard crumbles (Blockbuster). Deaths from S-type loonshots tend to be more gradual and less obvious. It took three decades for Walmart to dominate retail and variety stores to fade away. And no one could quite figure out what Walmart was doing, or why it kept winning. S-type loonshots are so difficult to spot and understand, even in hindsight, because they are so often masked by the complex behaviors of buyers, sellers, and markets. In science, complexities often mask deep truths: mountains of noise conceal a pebble of signal.

Of all the current social theories, the rational/utilitarian tradition, in its modern incarnation, is most finely tuned to a way of making social policies work. The conflict tradition, with its tradition of conflicting movements and revolutionary upheavals, has a tendency to focus on the evils that exist, and the conditions that will bring about an uprising against them. Where conflict theory is weak is in explaining what will happen after the revolution, or after a successful movement has won some power. Its attitude tends to be: put the oppressed peoples in charge and everything will be great. At this point conflict theory stops being realistic. In their own ways, the other lines of social theory also tend to be vague about social theory. The Durkheimian tradition, with its emphasis on the conditions that produce solidarity and its ideals, doesn’t see people as very capable of generating specific social results; its victories are symbolic and emotional rather than practical. The micro-interaction theories, with their emphasis on the shifting cognitive interpretations of social reality, are also not very good at specific social policies. They assume either that somehow a social belief will be created that people find satisfactory, or that people live in their own little worlds of cognitive reality-construction, like separate bubbles in a stream. The modern rational/utilitarians, for all their faults, nevertheless are no the forefront in attempting to apply sociological insights to propose policies that have a realistic chance of succeeding. That is not to say that the theoretical basis of rational/utilitarian theory is necessarily adequate yet to this task. We have seen a consistent problem in the utilitarian tradition, on the level of how to motivate people for collective action. Can the appeal to interests alone motivate people to adopt great reforms, whether this appeal is embodies in the legal codes advocated by Bentham, in Adam Smith’s freedom of the market, or in schemes for new rules of the social game such as those proposed by Rawls, Buchanan, or Coleman? There is an element of pulling oneself up by one’s own bootstraps in these proposals, as long as one starts from the isolated individual concerned for his or her own interests. As an alternative, we may still need to draw on the conflict theory, which suggests that people fight for their interests rather blindly, solving one problem but creating new ones. The other alternative is the Durkheimian tradition of social solidarity, which explains precisely the emotional links among people that rational/utilitarian theory leaves out.

It wasn’t investigating my family history that put me on the lookout for cooperatives. I started looking because of stirrings I noticed as a reporter among veterans of the protests that began in 2011, such as Occupy Wall Street and Spain’s 15M movement. Once their uprisings simmered, the protesters had to figure out how to make a living in the economy they hadn’t yet transformed, and they started creating co-ops. Some were doing it with software—cooperative social media, cloud data, music streaming, digital currencies, gig markets, and more. But this generation was not all lost to the digital; others used cooperation to live by dirt and soil. The young radicals turned to the same kind of business that my buttoned-up, old-world, conservative grandfather did. Following them, I began following in my grandfather’s footsteps before I even knew it. Both

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Netflix is now the eight-hundred-pound streaming gorilla. Fifty-one percent of all streaming subscriptions flow their way, earning them over $4.5 billion in annual revenue and $150 billion in market cap.

The fundamentals of the economy remain strong.' That cliche is repeated by authorities as they try to restore public confidence after every major stock market decline. They have the opportunity to say this because just about every major stock market decline appears inexplicable if one looks only at the factors that logically ought to influence stock markets. It is practically always the stock market that has changed; indeed the fundamentals haven't. How do we know that these changes could not be generated by fundamentals? If prices reflect fundamentals, they do so because those fundamentals are useful in forecasting future stock payoffs. In theory the stock prices are the predictors of the discounted value of those future income streams, in the form of future dividends or future earnings. But stock prices are much too variable. They are even much more variable than those discounted streams of dividends (or earnings) that they are trying to predict.

It would have been easy for Donald to be a hero. People who have hated and criticized him would have forgiven or overlooked his endless stream of appalling actions if he’d simply had somebody take the pandemic preparedness manual down from the shelf where it was put after the Obama administration gave it to him. If he’d alerted the appropriate agencies and state governments at the first evidence the virus was highly contagious, had extremely high mortality rates, and was not being contained. If he’d invoked the Defense Production Act of 1950 to begin production of PPE, ventilators, and other necessary equipment to prepare the country to deal with the worst-case scenario. If he’d allowed medical and scientific experts to give daily press conferences during which facts were presented clearly and honestly. If he’d ensured that there was a systematic, top-down approach and coordination among all of the necessary agencies. Most of those tasks would have required almost no effort on his part. All he would have had to do was make a couple of phone calls, give a speech or two, then delegate everything else. He might have been accused of being too cautious, but most of us would have been safe and many more of us would have survived. Instead, states are forced to buy vital supplies from private contractors; the federal government commandeers those supplies, and then FEMA distributes them back to private contractors, who then resell them. While thousands of Americans die alone, Donald touts stock market gains. As my father lay dying alone, Donald went to the movies. If he can in any way profit from your death, he’ll facilitate it, and then he’ll ignore the fact that you died.

A few months later, Sandler got word that Netflix, newly interested in movies, had set its sights squarely on him. Using data gathered from Sony movies that Netflix had played through its Starz deal, Sarandos’s team knew that even as his box-office power waned, Sandler remained one of the most popular stars on the streaming service. His aging audience might be less likely to pay to see him in a theater, but they still loved laughing at his antics at home. “We knew he was popular in markets where his movies had never even opened,” Sarandos said. The mid-budget star vehicle, in other words, still worked great for Netflix. When people went to theaters, they preferred brand-name franchises. But when they were browsing for something to stream rather than pay fifty dollars for a night out, a familiar face doing the familiar shtick was perfect. Movies without massive visual effects were just as enjoyable at home, after all, if not more so. And if the stars had chosen to stretch their wings and you didn’t like the movie you clicked on, you could turn it off immediately. You lost a little bit of time, but not any money. And though there may not be as many fans of Adam Sandler, or any movie star, as there used to be, that didn’t necessarily matter to Netflix. All studios care about is how many people buy tickets or DVDs. They get their money whether you loved the movie or hated it. But Netflix measures success by how many people finish a movie and are satisfied enough to keep subscribing as a result, or who sign up just in order to watch it. Adam Sandler’s fan base may have shrunk, but those who remained were loyal and they were global—just what Netflix wanted. Additionally, Netflix wouldn’t have to spend millions of dollars on billboards and TV ads to market each film. Its algorithm would prominently suggest each Sandler movie to his fans on their home screen the moment it was available.

Despite its pervasiveness both in Silicon Valley and in the wider culture of data scientists and technology developers, inevitabilism is rarely discussed or critically evaluated. Paradiso’s conception of a “digital omniscience” is taken for granted, with little discussion of politics, power, markets, or governments. As in most accounts of the apparatus, questions of individual autonomy, moral reasoning, social norms and values, privacy, decision rights, politics, and law take the form of afterthoughts and genuflections that can be solved with the correct protocols or addressed with still more technology solutions. If information will stream “directly into our eyes and ears” and “the boundaries of the individual will be very blurry,” then who can access that information? What if I don’t want my life streaming through your senses? Who knows? Who decides? Who decides who decides?

While the populist nationalists raise important questions, the world can ill afford their shortsighted solutions. Populist nationalism will undermine the liberal market democratic system that has brought developed countries the prosperity they enjoy. Within countries, it will anoint some as full citizens and true inheritors of the nation’s patrimony while the rest are relegated to an unequal, second-class status. It risks closing global markets down just when these countries are aging and need both international demand for their products and young skilled immigrants to fill out their declining workforces. It is dangerous because it offers blame and no real solutions, it needs a constant stream of villains to keep its base energized, and it moves the world closer to conflict rather than cooperation on global problems.

the steady stream of wagons from the country were already heading for the capital’s markets, heavily laden with produce to feed the gargantuan appetite of the biggest city in the world.

two businessmen approached him with that project in autumn 1854. It was generally known that petroleum—rock oil, as it was commonly called, translating its Latin compound—could be refined into kerosene using much the same distilling process that Gesner and others used for solid bitumens. The two men judged that a domestic liquid source would allow them to produce kerosene less expensively for the large and expanding market for lamp fuel than mined sources did. They had acquired a farm in western Pennsylvania, one hundred miles north of Pittsburgh in Venango County, near the town of Titusville, where seeps of brown, greenish-tinged oil gave their name to a stream called Oil Creek.

Speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes the bubble on a whirlpool of speculation. When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. The measure of success attained by Wall Street, regarded as an institution of which the proper social purpose is to direct new investment into the most profitable channels in terms of future yield, cannot be claimed as one of the outstanding triumphs of laissez-faire capitalism—which is not surprising, if I am right in thinking that the best brains of Wall Street have been in fact directed towards a different object.

the entertainment industries’ existing processes for capturing value from blockbusters start with a set of experts deciding which products are likely to succeed in the market. Once the experts have spoken, companies use their control of scarce promotion and distribution channels to push their products out to the mass market. In short, these processes rely on curation (the ability to select which products are brought to market) and control (over the scarce resources necessary to promote and distribute these products). Long-tail business models use a very different set of processes to capture value. These processes—on display at Amazon and Netflix—rely on selection (building an integrated platform that allows consumers to access a wide variety of content) and satisfaction (using data, recommendation engines, and peer reviews to help customers sift through the wide selection to discover exactly the sort of products they want to consume when they want to consume them). They replace human curators with a set of technology-enabled processes that let consumers decide which products make it to the front of the line. They can do this because shelf space and promotion capacity are no longer scarce resources. The resources that are scarce in this model, and the resources that companies have to compete for, are fundamentally different resources: consumers’ attention and knowledge of their preferences.

Through traction development you get a steady stream of cold customers. It is through these people that you can really find out whether the market is taking to your product or not, and if not, what features are missing or which parts of the experience are broken.

Little by little, as the team members stitched together small pieces of information, they stumbled into Ranbaxy’s secret: the company manipulated almost every aspect of its manufacturing process to quickly produce impressive-looking data that would bolster its bottom line. Each member of Thakur’s team came back with similar examples. At the behest of managers, the company’s scientists substituted lower-purity ingredients for higher ones to reduce costs. They altered test parameters so that formulations with higher impurities could be approved. They faked dissolution studies. To generate optimal results, they crushed up brand-name drugs into capsules so that they could be tested in lieu of the company’s own drugs. They superimposed brand-name test results onto their own in applications. For some markets, the company fraudulently mixed and matched data streams, taking its best data from manufacturing in one market and presenting it to regulators elsewhere as data unique to the drugs in their markets. For other markets, the company simply invented data. Document forgery was pervasive. The company even forged its own standard operating procedures, which FDA investigators rely on to assess whether a company is following its own policies. In one instance, employees backdated documents and then artificially aged them in a steamy room overnight in an attempt to fool regulators during inspections.

The principles which inspire the contemporary American conservative movement are developing as the fusion of two different streams of thought. The one, which, for want of a better word, one may call the “traditionalist,” puts its primary emphasis upon the authority of transcendent truth and the necessity of a political and social order in accord with the constitution of being. The other, which, again for want of a better word, one may call the “libertarian,” takes as its first principle in political affairs the freedom of the individual person and emphasizes the restriction of the power of the state and the maintenance of the free-market economy as guarantee of that freedom.

The American conservative today, therefore, although he owes much to the libertarian stream in Western thought — its deep concern with freedom, its analysis of the political structure in terms of freedom, its understanding of the vital importance of the free-market economy for a free modern society — cannot accept the fundamental philosophical position, sometimes rationalist, sometimes utilitarian, which is the historical foundation of pure libertarianism. He cannot posit freedom as an absolute end nor can he, considering the condition of man, deny the role of the state as an institution necessary to protect the freedoms of individual persons from molestation, whether through domestic or foreign force. He is not, in a word, a utopian. He knows that power exists in the world and that it must be controlled, not ignored with wishful utopian thinking.

Lyotard addresses... in Postmodern Fables... [that] ideas of difference, alterity and multiculturalism have become nothing more than streams of cultural capital, streams which themselves fashion, and are fashioned by, the demands of the global market. Hence, the following irony: 'What cultural capitalism has found is the marketplace of singularities'. The result of this discovery, which even reduces the 'postmodern' celebration of difference or otherness to a marketable strategy, is that ideas are stripped of their intrinsic value (value-rationality) and are judged by their value as commodities. This leads to the production of thought that is itself devoid of difference, for streams of cultural capital 'must all go in the right direction' and 'must converge'. Global capitalism, while appearing to affirm the potentiality of cultural differentiation, in fact subordinates difference and alterity to an instrumental logic of exchange, performance and control.

Our inability to share the gifts of nature causes much suffering in the world today... We mistakenly believe that a free market should allow people and corporations to profit from nature, yet we've failed to consider the immense cost to life that occurs whenever people are allowed to reap what they haven't sown at the expense of others. While the privatization of capital can lead to production efficiencies that benefit the entire market, the same can't be said for privatization of nature. Whenever the income stream from nature is privatized, human beings take for themselves the gifts that would better be freely shared with everyone.

Abraham Lincoln once said, “Give me six hours to chop down a tree, and I will spend the first four sharpening the axe.” This system is no different than Abe’s tree. If you don’t sharpen your axe and put in place the necessary foundational elements first, the rest of it won’t be nearly as effective. What we’re doing here is building a system that you’ll come to rely on

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Booked is a 5-step process that helps you quickly position yourself as an expert in your industry, directly connect you with an unlimited supply of prospects, and work them through processes that will generate a predictable number of leads and appointments. When you have that predictable number of appointments, you’ll have a predictable stream of new clients.

Kanban boards are an ideal tool to create visibility, and visibility is a key component in properly recognizing and integrating Ops work into all the relevant value streams. When we do this well, we achieve market-oriented outcomes, regardless of how we’ve drawn our organization charts.

What’s the first thing you do now before you visit a new restaurant for the first time or book a hotel room online? You probably ask a friend for a recommendation or you check out the reviews online. Now more than ever, the story your customers tell about you is a big part of your story. Word of mouth is accelerated and amplified. Trust is built digitally beyond the village. Reputations are built and lost in a moment. Opinions are no longer only shared one to one; they are broadcasted one to many, through digital channels. Those opinions live on as clues to your story. The cleanliness of your hotel bathrooms is no longer a secret. Guests’ unedited photos are displayed alongside a hotel brochure’s digital glossies. TripAdvisor ratings are proudly displayed by hotels and often say more about the standards guests can expect than do other, more established star ratings systems, such as the Forbes Travel Guide‘s ratings. Once-invisible brands and family-run hotels have had their businesses turned around by the stories their customers tell about them. “With 50 million reviews and counting, [TripAdvisor] is shaking the travel industry to its core.” —Nathan Labenz It turns out that people are more likely to trust the stories other people tell about you than to trust the well-lit Photoshopped images in your brochure. Reputation is how your idea and brand story are spread. A survey conducted by Chadwick Martin Bailey found that six in ten cruise customers said “they were less likely to book a cruise that received only one star.” There is no marketing more powerful than what one person says to another to recommend your brand. “Don’t waste money on expensive razors.” “Nice hotel; shame about the customer service.” In a world where online reputation can increase a hotel’s occupancy and revenue, trust has become a marketing metric. “[R]eputation has a real-world value.” —Rachel Botsman When we were looking to book a quiet, off-the-beaten-track hotel in Bali, the first place we looked wasn’t with the travel agents or booking.com. I jumped online and found that one of the area’s best-rated hotels on tripadvisor.com wasn’t a five-star resort but a modest family-run, three-star hotel that was punching well above its weight. This little fifteen-room hotel had more than 400 very positive reviews and had won a TripAdvisor Travellers Choice award. The reviews from the previous guests sealed the deal. The little hotel in Ubud was perfect. The reviews didn’t lie, and of course the place was fully booked with a steady stream of guests who knew where to look before taking a chance on a hotel room. Just a few years before, this $50-a-night hotel would have been buried amongst a slew of well-marketed five-star resorts. Today, thanks to a currency of trust, even tiny brands can thrive by doing the right thing and giving their customers a great story to tell.

The stunning thing about a zero-marginal-cost digital distribution system is that we forget that it could allow artists to run a nonprofit distribution cooperative and keep a far higher percentage of their revenues than they do now. YouTube takes 45 percent of the ad revenue on its site simply for running the infrastructure, without putting up production or marketing money. At worst the cost to run the infrastructure is around 5 percent, at current revenue levels, so the rest of the revenue is pure profit. What if artists ran a video and audio streaming site as a nonprofit cooperative (perhaps employing the technology in some of those free Google patents)?

It magnifies your carbon footprint. If you cut back your animal food intake, you can make a big impact on planet Earth. Each year we eat billions of pounds of meat and drink billions of gallons of dairy products from billions of animals. In doing so, we not only contribute to inhumane animal practices, but we are responsible for the use of large amounts of chemical pesticides and fertilizers to produce animal feed, as well as large volumes of water and fuel to take animals to market. Byproducts of animal food production include greenhouse gas emissions, toxic manure lagoons, deforestation, and pollution of groundwater, rivers, streams, and oceans. According to a recent analysis conducted by CleanMetrics for the Environmental Working Group, greenhouse gas emissions generated by conventionally raising lamb, beef, cheese, pork, and farmed salmon—from growing the animals’ food to disposing of the unused food—far exceed those from other food choices like lentils and beans.26

As a result, the most important recommendation for organizations of all shapes and sizes moving forward is to anticipate worst case scenarios at a minimum. Even in cases where organizations cannot or will not make some of the operational changes recommended below, the exercise of focusing on nonsoftware areas of a given business can help identify under-realized or -appreciated assets within an organization. Particularly ones for whom the sale of software has been low effort, brainstorming about other potential revenue opportunities is unlikely to be time wasted. One vendor in the business intelligence and analytics space has privately acknowledged doing just this; based on current research and projecting current trends forward, it is in the process of building out a 10-year plan over which it assumes that the upfront licensing model will gradually approach zero revenue. In its place, the vendor plans to build out subscription and data-based revenue streams. Even if the plan ultimately proves to be unnecessary, the exercise has been enormously useful internally for the insight gained into its business.

platforms cannot be entirely planned; they also emerge. Remember that one of the key characteristics that distinguishes a platform from a traditional business is that most of the activity is controlled by users, not by the owners or managers of the platform. It’s inevitable that participants will use the platform in ways you never anticipated or planned. Twitter was never meant to have a discovery mechanism. It originated as simply a reverse-chronological stream of feeds. There was no way to seek out tweets on particular topics other than by scrolling through pages of unrelated and irrelevant content. Chris Messina, an engineer at Google, originally suggested the use of hashtags to annotate and discover similar tweets. Today, the hashtag has become a mainstay of Twitter. Platform designers should always leave room for serendipitous discoveries, as users often lead the way to where the design should evolve. Close monitoring of user behavior on the platform is almost certain to reveal unexpected patterns—some of which may suggest fruitful new areas for value creation. The best platforms allow room for user quirks, and they are open enough to gradually incorporate such quirks into the design of the platform.

For example, in Twitch’s journey, the team deeply focused on creators, giving them better tools and monetization, which in turn caused them to become more active. More satisfied creators meant they would broadcast live video streams more often, bringing in more viewers, which drove further engagement and monetization. It might have been easy to think they should just double down on their marketing spend, but instead the team looked toward amplifying the network effects that engaged its streamers.

Reminders of the sacred were everywhere, strewn about almost carelessly, we might say. Marco Pallis reported that in the traditional Tibet that he knew the entire landscape seemed to be suffused by the message of the Buddha's teachings. "It came to one with the air one breathed. Birds seemed to sing of it; mountain streams hummed its refrain as they bubbled across the stones. A holy perfume seemed to rise from every flower, at once a reminder and a pointer to what still needed doing. There were times when a man might have been forgiven for supposing himself already in the Pure Land.' In times like those, explicit references to the sacred were hardly necessary, but those times are long gone. Today we do not live under a sacred canopy; it is marketing that forms the backdrop of our culture. The message that advertising dins into our conscious and unconscious minds is that fulfillment derives from the things we possess.

MILF Token: What Is It and What Are the Prospects? Why MILF symbols? Whoever had actually the intense suggestion of producing a MILF token has actually located a cutting-edge means of touching into 2 distinctive yet similarly eye-catching streams. On the one hand, here's a fresh cryptocurrency including distinctively collectible characters, with evidence of possession saved in a blockchain. On the various other hand, when it concerns those characters, it likewise ventures a fixation among several songs in the very early 21st-century: fully grown, sexually knowledgeable ladies looking for daring times with their suitors. Any kind of speculator wanting to explore the idea behind these extravagant as well as attractive characters can conveniently acquaint themselves with a few of the very best sites concentrating on dating MILFs. These systems provide an algorithm-based solution, where brand-new consumers can surely join, as well as the details offered throughout this enrollment procedure - inspirations, kind of MILF they are brought in to, and so on. - can surely be as compared to the information they currently carry submit. This way, the liaison can surely be easily organized without the individual enquiring also needing to make up a candid message. The computer system software application will certainly give a shortlist of ideal dating prospects. Comparable character-driven symbols MILF symbols are top on from formerly prominent characters that have actually gripped the focus of crypto investors, such as CryptoPunks. These were a collection of 10,000 characters, each distinct, that exposed evidence of possession on the Ethereum blockchain. MILF symbols operate similarly. Due to the fact that no 2 characters are alike, each token can surely ended up being the authorities residential building of a solitary proprietor on this blockchain. Those 10,000 CryptoPunk symbols were quickly purchased, immediately providing the specific characters boosted worth. The presumption is that the MILF symbols will certainly go similarly, so any individual wanting to obtain their practical a certain MILF personality will certainly need to buy this through the market-place that's likewise installed in the Ethereum blockchain. Presently, the most affordable offered rate for MILF symbols is $0.00004078, standing for a 0.61% increase over the previous 24-hour. Shade coding Generally, these characters will certainly have actually a condition when they show up in the crypto markets. Where the CrytoPunks are worried, a blue history suggested that punk was except sale, neither exist energetic quotes. Punks that were offered offer for sale would certainly have actually a red history. Those with an energetic quote would certainly have actually a purple history. MILFs have actually built such a solid track record for desirability, their incorporation as

The Superior College Lahore is known for its ever-evolving, unique, and quality education initiatives for educational facilities, fastest expansion, and focuses on innovation for student success. Advertisement This continued legacy of excellence has led Superior College Lahore to achieve “University Status” granted by a gazette notification. The amendment bill of university status for the chartered institute ‘Superior College Lahore’ was presented in the Punjab Assembly on March 09, 2021, which was approved by the Governor Punjab, Chaudhry Muhammad Sarwar on July 23, 2021, while the approved amendment status notification was handed over to the Chairman Superior Group, Prof. Dr. Ch. Abdul Rehman by the Speaker Punjab Assembly, Chaudhry Parvez Elahi on July 26, 2021. Superior University is now Pakistan’s leading university with its core focus on promoting entrepreneurship, Research & innovation ensuring student success to contribute economically Superior Pakistan. The unique program for entrepreneurship development among the youngsters “Entrepreneurship Teaching & Training Development” (ETTP) at Superior University has made a significant difference in students’ career orientation. Focus on developing future job creators instead of job seekers through the power of entrepreneurship has earned great success for the university. The market-ready graduates are prepared through the “3U1M Program” where they spend three years of education in university and one year in the market to seek practical exposure to professional careers. Three indigenous streams for specialization in the final year of the 3U1M Program offer ideal options of Startup, Scaleup, and Design Thinking which ensures 100% job placement. Chairman Superior Group, Prof. Dr. Ch. Abdul Rehman and Rector Superior University, Dr. Sumaira Rehman also share the vision of promoting education in the country and prepare students equipped with attributes of the 21st century. Superior University is taking part in improving the literacy rate to create a socio-economic impact in the country by increasing access to quality education even in all the farfetched areas.

1. Opportunity. What is the best opportunity for a new entrepreneur to build a successful business? Why is now the time to do it? How does the new landscape of e-commerce and social media create an environment of opportunity? And how do you fit into it all? You will discover why now is the perfect time to create your pie, and why there are others who are ready and willing to buy a slice. 2. Mindset. There’s a reason not every wantrepreneur becomes a successful entrepreneur, and psychology is a big piece of the puzzle. I’ll take you through the development of the right mindset to take a business from zero to one million in a year. 3. Getting customers. A million-dollar business doesn’t start with a product; it starts with a person. Your first step in building your business must be identifying your customer, and then answering his or her need. This builds a real brand, not just a revenue stream. If you get this piece right, you will have droves of repeat buyers who will eagerly “overpay” for your products, thank you for it, and tell all of their friends about you. 4. Product. Choosing your first product will be the biggest hurdle you face. It will take research, patience, and determination. Most importantly, it will require listening to what your customer is saying. I’ll take you through the whole process, from ideation to prototyping and refinement, helping you clear this hurdle in no time flat. 5. Funding. Sure, you’ve got a great product, and you know to whom you’re selling—but how do you fund your inventory? Here’s how to bootstrap, borrow, and build your way to a self-sustaining revenue machine, without stressing about money. 6. Stacking the deck. How do you nearly guarantee that your first product is successful, right out of the gate? Once you’ve decided what business you’re in, we will work to ensure that you don’t get stuck holding a product no one wants; this is where you stack the deck so your launch day is set up to blast off. 7. Launch. Your first product is ready to launch. What do you do now? Do you just let it ride? No. Here’s where building relationships and a few strategic marketing tips will take your business from a single product to a world-class brand, as we cover what you need to do to reach the key growth point of twenty-five sales per day.

8. Scaling. You’ve got one product selling twenty-five units a day. You’ve proven you can get a product up and selling in the marketplace. Now it’s time to launch products two, three, four, and five and watch the snowball build into a million-dollar revenue stream by the end of twelve months. 9. Marketing. Sure, if you’re friends with a ton of celebrities who will post about your brand on their Instagrams, you’re all set with marketing. But what if you’re starting from scratch, with no contacts and no marketing experience? Here’s how you can build the right kind of marketing through relationships, influencers, and audiences, bringing your business to the level of a respected brand. 10. Acquisition. What does it look like to sell your business? There are many buyers out there hungry for what you’re building. Here’s where you’ll learn how to navigate the process, lock in your payday, and decide what to do afterward.

Roomba, made headlines when the company’s CEO, Colin Angle, told Reuters about its data-based business strategy for the smart home, starting with a new revenue stream derived from selling floor plans of customers’ homes scraped from the machine’s new mapping capabilities. Angle indicated that iRobot could reach a deal to sell its maps to Google, Amazon, or Apple within the next two years. In preparation for this entry into surveillance competition, a camera, new sensors, and software had already been added to Roomba’s premier line, enabling new functions, including the ability to build a map while tracking its own location. The market had rewarded iRobot’s growth vision, sending the company’s stock price to $102 in June 2017 from just $35 a year earlier, translating into a market capitalization of $2.5 billion on revenues of $660 million.1 Privacy

It seems clear, though, from the history of novel writing since Dickens’s time, that the production of enduring literary art has little or no relationship to market success, except insofar as a publisher can fund the publication of more complex and difficult works with the profits of a steady stream of popular stories. Even the most “loyal” readers grow “disloyal” when the work fails to please them.

Marijuana, up to now, gives me little reason to adjust that opinion. Pot can be responsibly legalized. Instead, we are choosing the route we took with opioids: a now-legal, potent drug is being made widely available and marketed with claims about its risk-free nature. Big Pot is only a matter of time. Altria, which owns Marlboro, is moving into legal marijuana. The final absurdity is that as we face climate change’s existential threat, we make a weed that thrives under the sun legal to grow indoors, with a huge carbon footprint. Pot may well have medical benefits. Opioids certainly do. But supply matters. So does potency and marketing and distribution. The opioid-addiction crisis should have taught us that. I’m sympathetic to the idea of decriminalizing drugs, as well. Yet I believe it misunderstands the nature of addiction and ignores the unforgiving drug stream every addict must face today. One reason overdose deaths during the coronavirus pandemic skyrocketed is that police in many areas stopped arresting people for the minor crimes and outstanding warrants that are symptoms of their addictions. Left on the street, many use until they die. Certainly the story of that death toll is as complex as those of the people whose deaths are counted in it. But I suspect we’ll come to see the last ten months of 2020 and into 2021 at least in part as one long, unplanned experiment into what happens when the most devastating street drugs we’ve known are, in effect, decriminalized, and those addicted to them are allowed to remain on the street to use them.

Since the Firm’s IPO, the Founder and the partners have realized that the listed market seems to value more highly the stable, recurring management fees that the Firm brings in, come rain or shine—the two percent—over the larger, supposedly more volatile performance fees that crystallize when investment gains are monetized—the twenty percent. The stock price is largely driven by a regular stream of management fees under long-term contracts, and as assets under management grow for the Firm, the stock’s attractiveness to public market investors increases because this fee pile grows alongside the assets. Of course, there is a strong track record of delivering performance fees on top, because the funds perform well, but these are incremental to the equity story; they do not underpin it. For the stock market, the Two is mission-critical. The Twenty is important, but it is not taken for granted.

Tracking data becomes more detailed, analyses become further-reaching, and data is retained for a long time in order to build up detailed profiles of each person for marketing purposes. Now the relationship between the company and the user whose data is being collected starts looking quite different. The user is given a free service and is coaxed into engaging with it as much as possible. The tracking of the user serves not primarily that individual, but rather the needs of the advertisers who are funding the service. I think this relationship can be appropriately described with a word that has more sinister connotations: surveillance. Surveillance As a thought experiment, try replacing the word data with surveillance, and observe if common phrases still sound so good [93]. How about this: “In our surveillance-driven organization we collect real-time surveillance streams and store them in our surveillance warehouse. Our surveillance scientists use advanced analytics and surveillance processing in order to derive new insights.” This thought experiment is unusually polemic for this book, Designing Surveillance-Intensive Applications, but I think that strong words are needed to emphasize this point. In our attempts to make software “eat the world” [94], we have built the greatest mass surveillance infrastructure the world has ever seen. Rushing toward an Internet of Things, we are rapidly approaching a world in which every inhabited space contains at least one internet-connected microphone, in the form of smartphones, smart TVs, voice-controlled assistant devices, baby monitors, and even children’s toys that use cloud-based speech recognition. Many of these devices have a terrible security record [95]. Even the most totalitarian and repressive regimes could only dream of putting a microphone in every room and forcing every person to constantly carry a device capable of tracking their location and movements. Yet we apparently voluntarily, even enthusiastically, throw ourselves into this world of total surveillance. The difference is just that the data is being collected by corporations rather than government agencies [96].

The plan was majestic. It contemplated two huge new dams on the Colorado River in Marble Gorge and Bridge Canyon, at opposite ends of Grand Canyon National Park. Both had been carefully situated so as not to flood the park itself—except for what the Bureau called “minor” flooding that would drown lower Havasu Creek, the canyon’s most beautiful side stream, and submerge Lava Falls, the river’s most thunderous rapid. But the park would sit inside a dam sandwich: Bridge Canyon Dam would back up water for ninety-three miles below it, entirely flooding the bottom of Grand Canyon National Monument, and Marble Gorge Dam would create a reservoir more than forty miles long right above it. The dams had one purpose—hydroelectric power—and a single objective: lots and lots of cash. They would not conserve any water, because there was none left to conserve; in some years, they would cause a net loss to the river through evaporation. They were there only to take advantage of the thousand feet of elevation loss between Glen Canyon and Hoover dams. Together, they would generate 2.1 million kilowatts of peaking power, marketable at premium rates. Later, the power revenues would finance an artificial river of rescue; for now it would pay for the other features of the plan. One of those features—actually, it was the centerpiece of the plan—was a pair of big dams on the Trinity River, in far-northern California, and a long hard-rock tunnel that would turn their water into the Sacramento River, where it would begin its journey to Los Angeles.

Look at stocks as part ownership of a business. 2. Look at Mr. Market—volatile stock price fluctuations—as your friend rather than your enemy. View risk as the possibility of permanent loss of purchasing power, and uncertainty as the unpredictability regarding the degree of variability in the possible range of outcomes. 3. Remember the three most important words in investing: “margin of safety.” 4. Evaluate any news item or event only in terms of its impact on (a) future interest rates and (b) the intrinsic value of the business, which is the discounted value of the cash that can be taken out during its remaining life, adjusted for the uncertainty around receiving those cash flows. 5. Think in terms of opportunity costs when evaluating new ideas and keep a very high hurdle rate for incoming investments. Be unreasonable. When you look at a business and get a strong desire from within saying, “I wish I owned this business,” that is the kind of business in which you should be investing. A great investment idea doesn’t need hours to analyze. More often than not, it is love at first sight. 6. Think probabilistically rather than deterministically, because the future is never certain and it is really a set of branching probability streams. At the same time, avoid the risk of ruin, when making decisions, by focusing on consequences rather than just on raw probabilities in isolation. Some risks are just not worth taking, whatever the potential upside may be. 7. Never underestimate the power of incentives in any given situation. 8. When making decisions, involve both the left side of your brain (logic, analysis, and math) and the right side (intuition, creativity, and emotions). 9. Engage in visual thinking, which helps us to better understand complex information, organize our thoughts, and improve our ability to think and communicate. 10. Invert, always invert. You can avoid a lot of pain by visualizing your life after you have lost a lot of money trading or speculating using derivatives or leverage. If the visuals unnerve you, don’t do anything that could get you remotely close to reaching such a situation. 11. Vicariously learn from others throughout life. Embrace everlasting humility to succeed in this endeavor. 12. Embrace the power of long-term compounding. All the great things in life come from compound interest.

To apply first principles thinking to the field of value investing, consider several fundamental truths. Understand and practice the following if you want to become a good investor: 1. Look at stocks as part ownership of a business. 2. Look at Mr. Market—volatile stock price fluctuations—as your friend rather than your enemy. View risk as the possibility of permanent loss of purchasing power, and uncertainty as the unpredictability regarding the degree of variability in the possible range of outcomes. 3. Remember the three most important words in investing: “margin of safety.” 4. Evaluate any news item or event only in terms of its impact on (a) future interest rates and (b) the intrinsic value of the business, which is the discounted value of the cash that can be taken out during its remaining life, adjusted for the uncertainty around receiving those cash flows. 5. Think in terms of opportunity costs when evaluating new ideas and keep a very high hurdle rate for incoming investments. Be unreasonable. When you look at a business and get a strong desire from within saying, “I wish I owned this business,” that is the kind of business in which you should be investing. A great investment idea doesn’t need hours to analyze. More often than not, it is love at first sight. 6. Think probabilistically rather than deterministically, because the future is never certain and it is really a set of branching probability streams. At the same time, avoid the risk of ruin, when making decisions, by focusing on consequences rather than just on raw probabilities in isolation. Some risks are just not worth taking, whatever the potential upside may be. 7. Never underestimate the power of incentives in any given situation. 8. When making decisions, involve both the left side of your brain (logic, analysis, and math) and the right side (intuition, creativity, and emotions). 9. Engage in visual thinking, which helps us to better understand complex information, organize our thoughts, and improve our ability to think and communicate. 10. Invert, always invert. You can avoid a lot of pain by visualizing your life after you have lost a lot of money trading or speculating using derivatives or leverage. If the visuals unnerve you, don’t do anything that could get you remotely close to reaching such a situation. 11. Vicariously learn from others throughout life. Embrace everlasting humility to succeed in this endeavor. 12. Embrace the power of long-term compounding. All the great things in life come from compound interest.

When eBay entered the Chinese market in 2002, they did so by buying the leading Chinese online auction site—not Alibaba but an eBay impersonator called EachNet. The marriage created the ultimate power couple: the top global e-commerce site and China’s number one knockoff. eBay proceeded to strip away the Chinese company’s user interface, rebuilding the site in eBay’s global product image. Company leadership brought in international managers for the new China operations, who directed all traffic through eBay’s servers back in the United States. But the new user interface didn’t match Chinese web-surfing habits, the new leadership didn’t understand Chinese domestic markets, and the trans-Pacific routing of traffic slowed page-loading times. At one point an earthquake under the Pacific Ocean severed key cables and knocked the site offline for a few days. Meanwhile, Alibaba founder Jack Ma was busy copying eBay’s core functions and adapting the business model to Chinese realities. He began by creating an auction-style platform, Taobao, to directly compete with eBay’s core business. From there, Ma’s team continually tweaked Taobao’s functions and tacked on features to meet unique Chinese needs. His strongest localization plays were in payment and revenue models. To overcome a deficit of user trust in online purchases, Ma created Alipay, a payment tool that would hold money from purchases in escrow until the buyer confirmed the receipt of goods. Taobao also added instant messaging functions to allow buyers and sellers to communicate on the platform in real time. These business innovations helped Taobao claw away market share from eBay, whose global product mentality and deep centralization of decision-making power in Silicon Valley made it slow to react and add features. But Ma’s greatest weapon was his deployment of a “freemium” revenue model, the practice of keeping basic functions free while charging for premium services. At the time, eBay charged sellers a fee just to list their products, another fee when the products were sold, and a final fee if eBay-owned PayPal was used for payment. Conventional wisdom held that auction sites or e-commerce marketplace sites needed to do this in order to guarantee steady revenue streams.

In two years of research the best example of self-disruption I can find is Netflix. Netflix’s transition to streaming from DVD rental by mail was not nearly as smooth as many would like to remember it, but in hindsight it appears genius. Netflix was founded in 1997 as a DVD mail service and pretty rapidly rose to take huge market share from local video stores who could not compete with its vast range of titles. People soon appreciated the appeal of no late fees, the ability to have several movies out at the same time, as well as its unlimited consumption tariff. Always keen to keep abreast of the latest technology, in 2007 Netflix spent about $40 million to build data centres and to cover the cost of licensing for the initial streaming titles (Rodriguez, 2017). When internet speeds allowed, it introduced streaming as an additional service for its existing subscribers. Monthly fees remained the same, but those with more expensive tariffs were given access to more hours of streamed content. While it added something for free, it also helped give people a reason to upgrade to more expensive plans. Growth was impressive, the video libraries of streamed content rose, the share price rose impressively from $3 in 2007 to over $42 in 2011, and life was good. In September 2011 Netflix made a very bold move. It created two tariffs, and moved all its US subscribers onto two separate plans: the original DVD-by-mail service was to be called Qwikster; the other was a streaming service for a lower monthly fee. The market was shocked, and by December the stock price was below $10 and the company was in pieces. The company rapidly lost higher revenue DVD subscribers and within nine months profits were down by 50 per cent (Steel, 2015). And yet slowly things changed. First, the lower prices suddenly appealed to a much wider market, bringing in far more paying customers, allowing Netflix to buy more content and to slowly raise prices. Then Netflix started making its own original content, clearing out global streaming rights, and then at a flick of a switch it was able to expand globally. If Netflix had not disrupted itself it would be a very different company. It would rely on a massive physical distortion system, with very high costs. It would probably have lost out massively to YouTube and would have withered away as a mail-order DVD supplier. Instead, Netflix’s share price is now nearly $200, five times more than it was when it bravely self-disrupted, it operates in 190 countries, makes nearly $9 billion in revenue from over 110 million customers (Feldman, 2017). Today DVDs represent only 4 per cent of Netflix’s users. It seems that in 2011, when Wall Street was demanding the resignation of Reed Hastings for reinventing the business, they were wrong. From this you can see the pressure this approach places on leaderships, the confidence you need to have, the degree to which this antagonizes the market and everyone around you. This move takes balls. The confidence, conviction, and aggression, to change before you have to create your own future, is remarkable.

Here’s a compelling quote from Scott Pezza of Blue Hill Research on the topic: If you currently sell products that collect some sort of data (or could be retrofitted to do so) and there is someone out in the world who would find that data valuable, IoT is a new revenue source for you. If you sell physical products that degrade or need to be serviced, IoT means you can offer remote monitoring services, or preventative maintenance services—new revenue streams. In the alternative, you can increase the attractiveness (and value) of those products by giving customers the ability to conduct that monitoring and maintenance themselves. If you sell services that could be expanded if you only had access to more data, it’s new money. And if you sell technology to help sense conditions, facilitate secure communications, conduct analysis, manage service provisioning and billing, or forecast and plan revenue—this market is going to need you.