The reason it is legal to open a palm reading shop is that the public understands it to be entertainment and not prediction. Investment advice should be the same situation: You can buy investment advice if you want it, but not until you sign a document acknowledging that science says no one has magical stock-picking skills. I know…
Manage What Matters, Not What’s Measurable
There’s a simple formula for effectively managing something using metrics. Determine what matters to you and your organization Figure out how to capture it into a simple metric Manage that metric to improve your outcomes Number one is crucial, and it’s the step most people miss. People instead skip to two and three by picking from metrics that…
For Metrics, Less is Often More
Metrics are like power and authority—once you’ve tasted them you think the answer is always more. This is dangerous. With metrics the problem is that having one or two good metrics is empowering, but having 17 is debilitating. Similarly, drinking a glass of water when you’re thirsty is good for you, but only having water (and no air)…
The Three Tiers of Competitive Advantage
My friend Andrew just came up with a brilliant concept that we’re calling The Three Tiers of Competitive Advantage. He pitched it to me as a fantasy parable where a king is preparing to die and he brings his three sons in to pick which will follow him. The first talks about how he’s unbeatable with a sword.…
How To Safely Get Interviewed by a Journalist
I recently did a class on how to handle journalists, and I wanted to capture some basics of what I learned: Interviews can be highly chaotic based on many variables, and the goal of training is to have more control over outcomes. Your message is primary. Have it fully approved, planned, and ready before doing the interview. Every…
Great Advice on Corporate Recruiting
The worst thing about most “startup advice” is that it isn’t stage-specific. It addresses one experience, but your pain points could be totally different depending on how old your company is, your field, how much funding you have, etc. So, instead of me serving up a bunch of un-targeted wisdom, let’s define what your hiring need actually is.…
It’s Not About Your Features; It’s About How Well You Implement Them
Last week’s WWDC conference in San Francisco got me thinking about what makes companies successful. Apple released a ton of features that are going to revolutionize mobile communication. They released the ability to hold a button, talk, and then send that voice clip to someone you’re texting. That feature also works for video. They are unifying phone calls…
Why We Have Abysmal Broadband in the U.S.
What bothers me about the U.S. broadband situation isn’t how bad it is, but that many people seem to think the reason is a mystery. Other advanced nations are providing tens, hundreds, and even gigabits of bandwidth to their citizens, while we wallow in the relative modem-ages. People enjoy saying it’s the size of the country that matters,…
Sharing as the Ultimate in Decentralizing Disruption
Airbnb has also spawned its own ecosystem — ordinary people who will now come clean your home, coordinate key exchanges, cook dinner for you and your guests, photograph rooms for rent, and through the ride-sharing business Lyft, turn their cars into taxis to drive you around. “It used to be that corporations and brands had all the trust,”…
Prison Privatization FTW
An American judge known for his harsh and autocratic courtroom manner was jailed for 28 years for conspiring with private prisons to hand young offenders maximum sentences in return for kickbacks amounting to millions of dollars.Mark Ciavarella Jnr was ordered to pay $1.2m (£770,000) in restitution after he was found to be a “figurehead” in the conspiracy that…
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