Capitalogix

Here Are Some Links For Your Weekly Reading - June 11th, 2023

Here are some of the posts that caught my eye recently. Hope you find something interesting.

Lighter Links:

• Apple Reboots the Steve Jobs Reality Distortion Field. (Mashable)
• Who Wants to Live Forever? (Pocket)
• Why Humans are Surprisingly Bad at Being Happy. (BigThink)
• How to Hire a Pop Star for Your Private Party. (NewYorker)
• Singapore Identifies Six Generative AI Risks, Sets up Foundation to Guide Adoption. (ZDNet)

 

Trading Links:

• Walmart Reclaims Top Spot From Amazon Among Retailers. (Forbes)
• What All the Single Ladies (And Men) Say About the Economy. (NYT)
• The Next Crisis Will Start With Empty Office Buildings. (The Atlantic)
• US to Give Away Free Lighthouses as GPS Makes Them Unnecessary. (TheGuardian)
• Marc Andreessen: The Single Greatest Risk of NOT Pursuing AI. (FreeThink)

Is It The News Or Propaganda?

There is nothing wrong with your television.  We will control all that you see and hear. We can deluge you with a thousand channels or expand one single image to crystal clarity and beyond. We can shape your vision to anything our imagination can conceive.  Enjoy ....

 
The original, from The Outer Limits TV show was: 

There is nothing wrong with your television set. Do not attempt to adjust the picture. We are controlling transmission. If we wish to make it louder, we will bring up the volume. If we wish to make it softer, we will tune it to a whisper. We will control the horizontal. We will control the vertical. We can roll the image; make it flutter. We can change the focus to a soft blur or sharpen it to crystal clarity. For the next hour, sit quietly and we will control all that you see and hear. We repeat: there is nothing wrong with your television set. You are about to participate in a great adventure. You are about to experience the awe and mystery which reaches from the inner mind to the outer limits.

As a society, we're fairly vulnerable to groupthink, advertisements, and confirmation bias. 

We believe what we want to believe, so it can be very hard to change a belief, even in the face of contrary evidence. 

Since the past election cycle, we've seen a massive uptick in distrust toward news agencies, big companies, the government, and basically anyone with a particularly large reach. 

To a certain degree, this is understandable and justified. Here is an example of the power of the media focused on a message.  Click to watch.

 

via Courier News

Propaganda has always been an issue, and almost everyone does it; governments, companies, etc. Luckily, it's easier to see today than in the past, but unluckily it's also more pervasive and insidious than before. 

It's to the point where if you watch the news you're misinformed, and if you don't watch the news you're uninformed. 

The above segment portrays a rosy picture of Amazon's efforts to protect its workers while delivering essentials to the struggling homebound masses. This comes while Amazon has come under massive fire for removing some of its protections. 

Honestly, I use Amazon and, in my opinion, this isn't a massive breach of trust. News stations have a lot of time to fill, they often have sponsored content.

That being said, it's something to be cognizant of - not necessarily offended by.

Personally, I believe I am reasonably aware and somewhat immune from propaganda. That probably isn't as true as I'd like to believe.

It used to be true that winners wrote history (think empires, wars, etc.). Now, the one that delivers the most broadcast narratives shapes the emotional and seemingly logical responses to what we perceive to be happening around us.

The result impacts elections, financial markets, buying choices, and countless other areas of our life. 

As A.I., Bots, and social media grow, our ability to discern truth from 'truthiness' weakens. It's becoming even more of an issue with AI-based depictions of presidents in both image and video.

It's a great reminder that what you're seeing and hearing is carefully manufactured, and hopefully, it encourages you to get outside your bubble. 

I think one of the worst consequences of the past few years is the unwillingness of mass swaths of Americans to listen to voices they disagree with. The internet has already created echo chambers, but it's being exacerbated by vitriol. As a result, I think we're seeing the fringe of both parties move further away from the middle. 

What do you think?

Here Are Some Links For Your Weekly Reading - June 4th, 2023

 

Here are some of the posts that caught my eye recently. Hope you find something interesting.

Lighter Links:

• Highly Intelligent People are Slower to Answer Complex Problems. (IFLScience)
• The Four Attitudes of Calm.(PsychologyToday)
• The Most Toxic Relationships Aren't What You Think. (AdamGrant)
• Mark Zuckerberg Got Knocked Out Cold in His First Jiu-Jitsu Competition.(TheDailyBeast)
• Elon Musk's Neuralink 'Brain Chips' Cleared for 1st In-Human Trials. (LiveScience)

 

Trading Links:

• Tesla Plummets 50 Spots in Reputable Brands Survey. It's at 62 — 30 Places Below Ford. (AutoBlog)
• Japan Sets the Precedent for AI Copyright. (AnalyticsIndia)
• How the Fed Will Make Bank Transfers Truly Instant. (Bloomberg)
• Lessons From 1999 Market Mania. (Forbes)
• Top Economist David Rosenberg Says the US Economy is a 'Dead Man Walking' – And Warns of a 'Hard Landing' Ahead. (Markets)

 

 

The World's Top 25 Websites in 2023

What are the most popular websites in the world by web traffic? 
 

via visualcapitalist

It's unsurprising that Google and social media top the list, but it is interesting to see OpenAI becoming the 17th most visited site last month - with 1.8 billion visits - despite being very new to the scene in comparison to its competitors. 

Easy to forget, but also unsurprising is the prevalence of adult websites on this list. One of my most popular articles ever was titled "How Long Does It Take To Get To 50 Million Users?" in it, the takeaway was that Pornhub did it 19 days - faster than anyone else ... up until ChatGPT. Part of the popularity of that article is because Pornhub has very in-depth statistics about its yearly use.

Pornhub via Capitalogix Blog

So we know that people care about making their jobs easier at least a little bit more than pornography. I'll take it. 

Eventually, all technology collides with human nature. 

Turning Trials Into Triumphs

Many of our best decisions, timeliest course corrections, or most significant innovations occur after a seemingly disastrous occurrence.  That's why many psychologists and self-help gurus encourage people to focus on the hidden gift that many of these experiences provide.

It's there if you look for it.  That painful event becomes the catalyst for either something new, a better way, or a level-up. 

Of course, that's not the case for everyone or every event ... It takes the right mindset and the right actions to turn a trial into a triumph. 

As we come out of a massive world transformation, and into a new one with the surge in A.I., I think back to 2008 and how a prior incarnation of algorithms fared against it (spoiler alert: not nearly as well as this time).  They say the things that don't kill you make you stronger.  Here's my trial into triumph story about that. 

 

Too many people become a victim of their circumstances instead of choosing to be the master of their destinies. 

Life's harder for people that live a life of least resistance.  Doing the hard things, and making the most of bad times, makes your life not only better ... but, ultimately, easier. 

Tony Robbins calls this Threshold of Control.  If you push through the fear and the struggle ... as you persevere, eventually, what was scary becomes easy.  You've increased your threshold, and that's often a permanent improvement.  

Examining several instances from my past, here is a list of the seven steps I use to transform almost any situation.

Seven Best Practices for Uncertain Times.

1. Accept Reality: We are where we are.  Focus on being complete with what happened before this – and think about this as a new beginning with an even bigger future.
2. Do Something Positive: Take action and build momentum and confidence.  Big wins are great.  Yet, in scary times, even small items are worth noting, building upon, and stacking.  Let progress build positive momentum for you.
3. Take Care of Yourself: Increase your physical activity, meditation, and massage.  Take time to eat and sleep well.  Many studies show decision-making suffers when you're stressed.  Taking care of yourself goes a long way to making many other things better.
4. Communicate More: The natural tendency is to hide or to recuperate in private.  Instead, be open and receptive to help and ideas from friends, partners, or wherever it may come.
5. Creative Destruction: The old game and the old ways of thinking are over.  Shift your energy to what is working.  Commit to the result you want rather than the process.
6. Increase Your Options: It often takes a different level of thinking to solve a problem than the level of thinking that got you there in the first place.  So, be open to new opportunities, new possibilities, and more ways to win.
7. Choose a Bigger Future: Instead of resigning yourself to playing small and doing with less, recognize that a clearing creates space for something even better.  Choose what you want and call it into existence through your thoughts and actions.

They say everything happens for a reason.  The secret is that you get to choose the reason, what it means to you, and what you're going to do about it.  Choose well, and someday you could look back on this time as one of the best things that ever happened to you.

The Shape of Change

Change is the only constant.

The World Government Summit put together a helpful interactive website where you can test your knowledge on the trajectory of key statistical indicators for the development of society over the past decade.  It is more challenging than I imagined.  Here is the text from their opening screen.

Can we estimate how much the world has changed in a decade? Or do our own experiences impact the perception of progress? This work challenges the assumptions we make about how key statistical indicators regarding Health, the Environment, or Education evolve through the years. 

- The Shape of Change via the World Government Summit

You can click on the image below to test your knowledge of key issues shaping the world (like oil dependency, pollution,  literacy, economic freedom, etc.) by answering some questions at "The Shape of Change."

The Shape of Change via the World Government

It also includes a table that tracks year-over-year changes in various indicators. 

 

The Shape of Change via the World Government

The first part is like a guessing game where you try to predict the direction and the rate of change.

The second part, which involves reviewing the data table, was much more illustrative. 

Were there any numbers that surprised you?

Speed Matters: The Pace of Success

Capitalogix started in my home.  The first employee sat at a tiny desk behind me.  Their job was to exit the trades I entered.  This was an early attempt to avoid the fear, greed, and discretionary mistakes that humans bring to the business of trading.

We started to grow ... and somehow got to 23 people working in my home.  It literally overtook my office, dining room, and the entire upstairs.  Neighbors noticed (and expressed their displeasure).

Looking back, it seems crazy (and my wife seems Saintly).  But somehow, at the time, it felt natural. 

Incubating the company in my home, and growing it the way we did, resulted in a closeness (a feeling much like family) that pays dividends, even today.

Speed matters ... both fast and slow.  

I shot a video on the subject.  Check it out. 

 

There is a concept in business expressed by the phrase "measure twice and cut once."  It's much easier to do something the right way from the beginning rather than trying to fix it after you mess it up. 

It saves time and creates a better end result. 

Beginning with the end in mind is powerful.  I often spend what looks like "too much" time imagining the bigger future.  What will things look like when we are ten times bigger?  Who will we serve?  What dangers will keep me up at night?  What opportunities will we be trying to attract or capture?  What strengths will give us confidence?  Who will we be collaborating with ... and about what?  It helps build a roadmap that makes it easier to understand whether particular activities are aligned with our future (or just something we are doing now). 

I prefer to optimize on the longer term rather than the shorter term.  That isn't always possible or practical, but that is my preference when it is.

Pace is important - and a focus on "what's the best next step" is an important driver at Capitalogix, but sometimes in order to go fast, you have to go slow.  You may miss out on something, but the ultimate payoff is often worth it. 

It's a good lesson for personal growth as well.  There is no right timeline.  No one size fits all.  Take your time.  Find your path.

 

Anna Vital via Adioma

Hope that helps. 

A Look Back At Simon Sinek's 'Start With Why'

In 2009, Simon Sinek talked to my EO Chapter, and then came to my office to speak with our team.  This was right at the beginning of his meteoric rise, two short months after the release of his famous book "Start With Why." 

Here's the article I wrote in 2009:

___________________

Inspiration is stronger than persuasion.  It gives people a sense of purpose and belonging that has little to do with external incentives or benefits.

Simon Sinek, who is quite charismatic and well-spoken, is delivering this message to a rapidly growing fan base. 

My team thought Simon was inspiring, engaging, and insightful.

You can watch a short video that introduces his material below. 

In addition, you can explore more of his ideas in his book,
Start with Why: How Great Leaders Inspire Everyone to Take Action.

An Example of Finding the Right Person for a Job.

Who do you believe will do a better job, someone who takes a job because of the salary and benefits ... or someone truly inspired to accomplish the job's purpose? 

Phrased that way, of course, you know the answer.  Still, how can you leverage this to better select customers and employees?

For example, Simon uses the story of Sir Ernest Shackleton to illustrate this concept.  Shackleton was preparing to lead the first expedition across Antarctica in 1914.  Legend has it that when seeking crew members for his journey, Shackleton placed the following ad in a newspaper:

"MEN WANTED FOR HAZARDOUS JOURNEY. SMALL WAGES, BITTER COLD, LONG MONTHS OF COMPLETE DARKNESS, CONSTANT DANGER, SAFE RETURN DOUBTFUL. HONOUR AND RECOGNITION IN CASE OF SUCCESS.
- SIR ERNEST SHACKLETON"

When the expedition became stuck in the ice and could not be rescued for 22 months, not a single man was lost.  The reason Simon gave for their unlikely survival was that Shackleton hired survivors that could deal with the situation and were aligned with the mission and purpose.

Can you imagine writing an ad like that to attract the right people to your cause?

Watch This Video.

Here is a video of Simon speaking at a TED Conference.  It is an excellent intro to his stuff. 

Other Resources:

• Here is a link to Simon's Blog.  (2023 Note: this now links to his old blog, which is poorly formatted but interesting to see.  His new website/blog can be found here.)
• Here is a link to Videos of Simon.
• Here is a link to an article on why to know someone else's Why.  (PDF Version)
• Here is a link to Simon's Book: Start with Why.

_____________________

It's now more than ten years later, and Simon is one of the most prominent leaders in leadership development and has published five books, to much acclaim. 

Part of his success is the charisma and pith with which Simon speaks and writes - but a large part is his focus on what makes humans human.  He's not preaching a leadership mantra focused on the bottom line and revenue; he's focused on the aspects of human nature that don't change.  He's focused on purpose and the elements of leadership that apply to everyone - not just CEOs. 

As we move into an era of increased volatility – both in markets and business - these leadership principles will become more important. 

Understanding your "WHY" is vital if you want to make a difference (and not be replaced by an AI). 

If you haven't read any of his books, they're all good, but I suggest "Start With Why" and "The Infinite Game."

Let's Talk AI Ethics

It's no secret that I've been a proponent of the proliferation and adoption of AI. I've been the CEO of AI companies since the early 90s, but it was the early 2000s when I realized what the future had in store.

A few years ago, in anticipation of where we are today, I started participating in discussions about the need for governance, ethical guidelines, and response frameworks for AI (and other exponential technologies). 

Last week, I said that we shouldn't slow down the progress of generative AI ... and I stand by that, but that doesn't mean that we shouldn't be working hastily to provide bumper rails to keep AI in check. 

There are countless ethical concerns we should be talking about: 

1. Bias and Discrimination - AI systems are only as objective as the data they are trained on. If the data is biased, the AI system will also be biased. Not only does that create discrimination, but it also leaves systems more susceptible. 
2. Privacy and Data Protection - AI systems are capable of collecting vast amounts of personal data, and if this data is misused or mishandled, it could have serious consequences for individuals' privacy and security. The security of these systems needs to be managed, but also where and how they get their data. 
3. Accountability, Explainability, and Transparency - As AI systems become increasingly complex and autonomous, it can be difficult to determine who is responsible when something goes wrong, not to mention the difficulty in understanding how public-facing systems arrive at their decisions. Explainability becomes more important for generative AI models as they're used to interface with anyone and everyone. 
4. Human Agency and Control - When AI systems become more sophisticated and autonomous, there is fear about their autonomy ... what amount of human control is necessary, and how do we prevent "malevolent" AI? Within human agency and control, we have two sub-topics. First, is job displacement ... do we prevent AI from taking certain jobs as one potential way to preserve jobs and the economy, or do we look at other options like universal basic income. We also have to ask where international governance comes in, and how we ensure that ethical standards are upheld to prevent misuse or abuse of the technology by bad actors.
5. Safety and Reliability - Ensuring the safety and reliability of AI systems is important, particularly in areas such as transportation and healthcare where the consequences of errors can be severe. Setting standards of performance is important, especially considering the outsized response when an AI system does commit an "error". Think about how many car crashes are caused by human error and negligence... and then think about the media coverage when a self-driving car causes one. If we want AI to be adopted and trusted, it's going to need to be held to much higher standards. 

These are all real and present concerns that we should be aware of. However, it's not as simple as creating increasingly tight chains to limit AI. We have to be judicious in our applications of regulation and oversight. We intrinsically know the dangers of overregulation - of limiting freedoms. Not only will it stifle creativity and output, but it will only encourage bad actors to go further beyond what the law-abiding creators can do.  

If you want to see one potential AI risk management framework, here's a proposition by the National Institute of Standards and Technology - it's called AI RMF 1.0. It's a nice jump-off point for you to think about internal controls and preparation for impending regulation.  To be one step more explicit ... if you are a business owner or a tech creator, you should be getting a better handle on your own internal controls, as well as anticipating external influence. 

In conclusion, there is a clear need for AI ethics to ensure that this transformative technology is used in a responsible and ethical manner. There are many issues we need to address as AI becomes more ubiquitous and powerful. That's not an excuse to slow down, because slowing down only lets others get ahead. If you're only scared of AI, you're not paying enough attention. You should be excited.

Hope that helps.

Yield of Dreams: Laughing Your Way To Financial Freedom

The movie Field of Dreams came out the year my first son was born. If you haven't seen it, it's a fantastic movie. 

Whether you’ve seen it (or not), you might want to see Charlie Epstein’s a one-man play called Yield of Dreams. 

I put together a quick video on why you should watch it:

>> Click Here to check it out

Many of the people who read my blog, or are subscribed to my newsletter, are either entrepreneurs or in the financial space. While Charlie Epstein moonlights as an actor/comedian, his day job is in financial services. He's incredibly sharp, very knowledgeable ... and yes, a little quirky. 

But that quirkiness is what makes him funny - so much so that you'll be captivated long enough to gain some real value. Charlie does an excellent job teaching people how to do practical things to ensure they have enough money when they retire to live a good life.

More importantly, he helps you think about your mindsets and what you truly want, so you can live the life you've always dreamed of and deserved. And even though I didn't think I needed to learn anything new, I gained a ton of practical value – and you probably will too.

As a bonus, half of the proceeds go toward supporting vets with PTSD.

There aren't many people (or "offers") I'd feel comfortable plugging, but this is one of them. As well, many of the other people I would put in front of you (like Dan Sullivan, Peter Diamandis, and Mike Koenigs) love Charlie as much as I do. 

via Yield of Dreams

So, here's the part I copied from Charlie: In this one-man show you'll discover how to

• Work less while making more than you ever have before
• Make more progress towards your dreams in one year than most people do in ten
• Step into the biggest, boldest and most confident version of yourself
• Stop worrying about money and start living your dream life

So, if any of that interests you I highly recommend you sign up. You only have a limited time to do so. 

>> Just click here to learn more about Yield of Dreams