Idea Almanac

Daily update on new ideas and books so that you can grow each day

August 3, 2022

“No doubt you can recall a time when you were perplexed by a remote colleague’s behavior. Are they not answering your email because they are busy? Uninterested? Both? Maybe they didn’t get your email? When we are not collocated with our collaborators, we make up our own accounts for their behavior and infer what their motives might be. We engage in this kind of behavior because the digital tools that make our physical separation possible lead to what Catherine Cramton, Professor Emerita of Management at George Mason University who has spent her career studying digitally enabled collaboration, calls the “mutual knowledge problem.” Mutual knowledge is the information that we need to achieve mutual understanding. It is the common ground that people need to reach. Perhaps your colleague has not answered your email because they have taken the day off. Or perhaps they had to attend to a pressing project or your email landed in their spam folder. ”

Excerpt From: Paul Leonardi. “The Digital Mindset.”

August 2, 2022

I first met Robert Shiller in person as we were seated next to each other at a breakfast panel discussion. I found myself inadvertently eating all the fruits on his plate and drinking his coffee and water, leaving him with the muffins and other unfashionable food (and nothing to drink). He did not complain (he may have not noticed). I did not know Shiller when I featured him in the first edition and was surprised by his accessibility, his humility, and his charm (by some heuristic one does not expect people who have vision to be also personable).”

Excerpt From: Nassim Nicholas Taleb. “Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets.”

August 1, 2022

“As a young man, according to a story Joseph Alois Schumpeter liked to tell later in life, he had three major goals. He wanted to be the world’s greatest economist, Austria’s top horseman and Vienna’s greatest lover. Schumpeter then liked to tease his listeners by adding: I achieved two of them; the part about the top horseman didn’t work out, unfortunately. But seen objectively, perhaps Schumpeter’s greatest achievement is the fact that he is admired by liberals and Marxists alike for the incisiveness and complexity of his analysis of industrial capitalism. And no other great economist of the twentieth century comes close to his flamboyant biography. Schumpeter’s dazzling career could have filled numerous ordinary lives and more.”

Excerpt From: Viktor Mayer-Schönberger. “Access Rules.”

July 16, 2022

Invert: Try less before more. Subtract detail even before you act, as with triage.

Expand: Think add and subtract. Nature and Maya Lin show us that these are complementary approaches to change.

Distill: Focus in on the people. Bikes do not balance, but toddlers can. Strip down to what sparks joy.

Finally, persist: Keep subtracting. Can you make less undeniable? Bruce Springsteen made Darkness visible. Costa Rica made neutrality noticeable.

Excerpt From: Leidy Klotz. “Subtract.”

May 18, 2022

“How does someone become their true self? When I was young I never gave the topic much thought but, as a player and particularly as a manager, I became increasingly interested in the subject. If you are leading people, it helps to have a sense of who they are–the circumstances in which they were raised, the actions that will draw out the best in them, and the remarks that will cause them to be spooked. The only way to figure this out is by two underrated activities: listening and watching. Most people don’t use their eyes and ears effectively. They aren’t very observant and they fail to listen intently. As a result, they miss half of what is going on around them. I can think of some managers who could talk under water. I don’t think it helps them.”

Excerpt From: Alex Ferguson. “Leading.”

May 12, 2022

“Ask the pizza man. Successful marketing starts with positioning.
This principle is the focus of Al Ries and Jack Trout’s marketing classic, Positioning. In its most important essentials, Positioning says:
1. You must position yourself in your prospect’s mind.
2. Your position should be singular: one simple message.
3. Your position must set you apart from your competitors.
4. You must sacrifice. You cannot be all things to all people; you must focus on one thing.”

Excerpt From: Beckwith, Harry. “Selling the Invisible.”

May 8, 2022

“Toutiao’s early recommendation system, its so-called “personalization technology,” was, at the time, rudimentary. Open the app, and the user would be bombarded with top-read articles to keep them immediately hooked. Next, it would mix in more targeted click-bait articles appealing only to specific demographics to test and determine who the reader was. The user clicking on the article with a big preview picture of a female car show model is probably male. The other user consistently reading moralistic feel good “chicken soup for the soul” articles is probably a senior citizen. Supplementing this guesswork was basic information such as the user’s phone model, geographical location, and the time of day they opened the app.”

Excerpt From: Brennan, Matthew. “Attention Factory: The Story of TikTok and China’s ByteDance.”

May 1, 2022

“In sport, as in business, organizations are constantly searching for new ways to gain an advantage over the competition. This competitive edge is invariably sought out in the analytical and the psychological sides of the business. The consensus of opinion in sport seems to be that we ‘get’ the physical side of the business – we are all more or less on the same lines in the areas of conditioning, training, etc. – but with the data and the mind of the player, there are multiple new approaches, techniques and technology still to be developed. Of course, we rarely get the future right, but we have to start somewhere. Plans never work out perfectly, but having no plan at all is even worse.”

Excerpt From: Carlo Ancelotti. “Quiet Leadership: Winning Hearts, Minds and Matches.”

April 29, 2022

“Lestrade doesn’t understand just how wrong he is—and just how central a role imagination plays, not just to the successful inspector or detective but to any person who would hold himself as a successful thinker. If he were to listen to Holmes for more than clues as to a suspect’s identity or a case’s line of inquiry, he would find that he might have less need of turning to him in the future. For, if imagination does not enter into the picture—and do so before any deduction takes place—all of those observations, all of that understanding of the prior chapters will have little value indeed. Imagination is the essential next step of the thought process. It uses the building blocks of all of the observations that you’ve collected to create the material that can then serve as a solid base for future deduction, be it as to the events of that fateful Norwood evening when Jonas Oldacre met his death or the solution to a pesky problem that has been gnawing at you at home or at work. ”

Excerpt From: Maria Konnikova. “Mastermind: How to Think Like Sherlock Holmes.”

April 28, 2022

“The point of this story, Wilson explained, is that “software alone is a commodity. There is nothing stopping anyone from copying the feature set, making it better, cheaper, and faster.” This is where USV’s investment thesis comes in. USV realized it did not want to invest in commodity software, so Wilson and his partners asked, “What will provide defensibility?” The answer: “Networks of users, transactions, or data,” Wilson explained. “That led us to social media, to Delicious, Tumblr, and Twitter. And marketplaces like Etsy, Lending Club, and Kickstarter.”

Excerpt From: Alex Moazed.” Modern Monopolies: What It Takes to Dominate the 21st Century Economy