It's kinda funny.
As I'm making my way through Ron Chernow's "Washington: A Life" I am constantly struck by the descriptions of the how most Americans felt about the Revolutionary War at any given time as it was going on.
Aside from the initial outburst of patriotism at the outset of the war, a majority of the American populace seemed largely indifferent, both towards the war itself as well as towards both the Continental and British armies.
People just wanted to get on with their lives.
Even at the height of American patriotism, the Continental Army was constantly fighting to hold onto or bring on a few extra mediocre troops.
When the troops were literally starving to death in cold, dreary Valley Forge during the brutal winter of '77~'78 - well after the initial patriotism at the outset of the war in '75 had subsided - the farmers living closest to the pitiful army didn't bat an eye at the death in front of them. Instead they tried as hard as they could to sell their livestock and crops to the British Army in Philadelphia for their solid sterling pounds.
The Revolutionary War ended in 1783 mind you.
But we know how the story ends: America wins its independence then charges up and to the right in the annals of world history.
What happens when mass sentiment turns lukewarm is the stuff that defines the direction that history heads and turns mere mortals into legends.
Amazon gutted it out and did innumerable laps in the Olympic sized pool of lukewarm human sentiment following the dot-com bust before ascending into the upper echelons of elite, global corporations.
And there are a few of us in the crypto-space who are doing what seem like Sisyphean laps in the same luke warm pool of public indifference. But just as Washington emerged victorious, and Bezos stands vindicated, Cent will take its place at the podium of human history and beam ascendent as a beacon of hope for everyone that wants to earn a life sustaining income from anywhere. That day will come. Soon.
2018년 10월 21일 일요일
2018년 4월 19일 목요일
A Culture of High Standards
Since yesterday afternoon I have read and re-read the latest Amazon Shareholder Letter from Jeff Bezos a couple times.
As always it is a must read for the clear value it provides to anyone (read: any current or potential Amazon customer) who takes the time to read it over.
I have already tweeted a bunch of the more apparent points, particularly regarding the emphasis Bezos places on high standards - because, clarity shines on Tweeter - so I wanted to highlight one of the subtler aspects here.
I'll quote Bezos in full:
"[The] more subtle [benefits of high standards]: a culture of high standards is protective of all the “invisible” but crucial work that goes on in every company. I’m talking about the work that no one sees. The work that gets done when no one is watching. In a high standards culture, doing that work well is its own reward – it’s part of what it means to be a professional."
Doing invisible work. And being ok with doing invisible work.
I have come across too many people who simply can't be bothered to do anything if they aren't sure others will notice.
This is directly linked to what I have written about a few times [here & here] regarding signaling, a topic that Robin Hanson has discussed endlessly.
The fact of the matter is that, according to the statistics that I think I remember, at least 95% of people "need" the signal from whatever they do to be public, and it is from the gap between this 'need' and the imperative for work to be done, for the success of a project or company, that failures or delays arise. Or at least I think that is a major factor.
[Side note: As I write this, the irony is not lost to me that I am about to post this to a public blog ;)]
So for everyone who is already doing that invisible work: Respect.
And for those of my readers who may not be doing invisible work yet: Baby steps.
The next time you get an email without a million folks CC'd asking for a quick favor for something very important, or if you happen to read over a report that you weren't involved in and catch a major mistake, take care of it, because even if the light of success doesn't directly fall on you, you will still be able to bask in its warmth.
As always it is a must read for the clear value it provides to anyone (read: any current or potential Amazon customer) who takes the time to read it over.
I have already tweeted a bunch of the more apparent points, particularly regarding the emphasis Bezos places on high standards - because, clarity shines on Tweeter - so I wanted to highlight one of the subtler aspects here.
I'll quote Bezos in full:
"[The] more subtle [benefits of high standards]: a culture of high standards is protective of all the “invisible” but crucial work that goes on in every company. I’m talking about the work that no one sees. The work that gets done when no one is watching. In a high standards culture, doing that work well is its own reward – it’s part of what it means to be a professional."
Doing invisible work. And being ok with doing invisible work.
I have come across too many people who simply can't be bothered to do anything if they aren't sure others will notice.
This is directly linked to what I have written about a few times [here & here] regarding signaling, a topic that Robin Hanson has discussed endlessly.
The fact of the matter is that, according to the statistics that I think I remember, at least 95% of people "need" the signal from whatever they do to be public, and it is from the gap between this 'need' and the imperative for work to be done, for the success of a project or company, that failures or delays arise. Or at least I think that is a major factor.
[Side note: As I write this, the irony is not lost to me that I am about to post this to a public blog ;)]
So for everyone who is already doing that invisible work: Respect.
And for those of my readers who may not be doing invisible work yet: Baby steps.
The next time you get an email without a million folks CC'd asking for a quick favor for something very important, or if you happen to read over a report that you weren't involved in and catch a major mistake, take care of it, because even if the light of success doesn't directly fall on you, you will still be able to bask in its warmth.
2018년 2월 7일 수요일
Gradatim Ferociter
"Step by Step, Ferociously"
Steady progress toward seemingly impossible goals will win the day.
Setbacks are temporary.
Naysayers are best ignored.
~Blue Origin (Amazon) Motto
Steady progress toward seemingly impossible goals will win the day.
Setbacks are temporary.
Naysayers are best ignored.
~Blue Origin (Amazon) Motto
2018년 2월 6일 화요일
Risk as a Function of Perception
I am just about to wrap up Brad Stone's "The Everything Store," his book on Jeff Bezos and the inception, initial rise followed by hard times, and ultimate success of Amazon.
Usually biographies humanize their subjects, but in this case, Bezos has essentially become a god in my eyes. An angry god to be sure, and one that knows the devil is in the details.
Beyond Bezos though, what really struck and stuck with me, was how the book perfectly captured the anxiety and fear that permeated the markets during the bear cycle and ultimate dot.com bubble pop back in 2000.
At that time Amazon's stock fell to less than $10, losing hundreds of millions of dollars for shareholders and employees. And they were getting *trashed* in the media.
Amazon's then treasurer summed up the fear and anxiety perfectly: "The most anxiety-inducing thing about [the Wall Street bears and negative media] was that the risk [of going to zero] was a function of perception and not the reality."
The real danger was that the negative media might turn into a self-fulfilling prophecy. And that strain of bearish thinking actually took hold for awhile. Large numbers of people illogically thought the Internet revolution and all its invention would just disappear.
It feels like this history is rhyming again today as the crypto sector has just lost hundreds of billions off its network value virtually overnight.
The bears and perma-critics are smugly declaring defeat for cryptocurrencies. Many retail investors probably didn't know anything about the underlying tech so they probably think crypto dead too.
But just as Amazon and its cohort of other dot.com bubble survivors have shown, these sorts of revolutions have a way of upending short-term criticism over the long run. As the internet continues to prove, it has had an extremely powerful non-linear impact on every single other sector.
Amazon used the power of the internet to provide customers - end users - with a level of instant, personalized satisfaction that was impossible before it. That in turn has helped it become a real contender to become the everything store for the whole freaking world.
The seeds carried by the sudden deluge of blockchain and cryptocurrency speculation have just been laid. Already flowers are starting to appear giving a preview of what may be possible soon for end users. It's amazing how quickly they have taken root, and I am sure that there will be an Amazon (or ten or hundred) that'll bloom and grow atop this new technology soon.
Usually biographies humanize their subjects, but in this case, Bezos has essentially become a god in my eyes. An angry god to be sure, and one that knows the devil is in the details.
Beyond Bezos though, what really struck and stuck with me, was how the book perfectly captured the anxiety and fear that permeated the markets during the bear cycle and ultimate dot.com bubble pop back in 2000.
At that time Amazon's stock fell to less than $10, losing hundreds of millions of dollars for shareholders and employees. And they were getting *trashed* in the media.
Amazon's then treasurer summed up the fear and anxiety perfectly: "The most anxiety-inducing thing about [the Wall Street bears and negative media] was that the risk [of going to zero] was a function of perception and not the reality."
The real danger was that the negative media might turn into a self-fulfilling prophecy. And that strain of bearish thinking actually took hold for awhile. Large numbers of people illogically thought the Internet revolution and all its invention would just disappear.
It feels like this history is rhyming again today as the crypto sector has just lost hundreds of billions off its network value virtually overnight.
The bears and perma-critics are smugly declaring defeat for cryptocurrencies. Many retail investors probably didn't know anything about the underlying tech so they probably think crypto dead too.
But just as Amazon and its cohort of other dot.com bubble survivors have shown, these sorts of revolutions have a way of upending short-term criticism over the long run. As the internet continues to prove, it has had an extremely powerful non-linear impact on every single other sector.
Amazon used the power of the internet to provide customers - end users - with a level of instant, personalized satisfaction that was impossible before it. That in turn has helped it become a real contender to become the everything store for the whole freaking world.
The seeds carried by the sudden deluge of blockchain and cryptocurrency speculation have just been laid. Already flowers are starting to appear giving a preview of what may be possible soon for end users. It's amazing how quickly they have taken root, and I am sure that there will be an Amazon (or ten or hundred) that'll bloom and grow atop this new technology soon.
피드 구독하기:
글 (Atom)