Most people know the song about the 12 Days of Christmas, but here's an interesting visualization of what presents were gifted by "their true love."
via Neil R Kaye
I don't know about you … but that's a ton of birds. Probably too many. Forty gold rings doesn't sound too bad (and less likely to become worthless than the NFTs they thought about substituting here).
All together pretty noisy.
Hopefully, you bought presents that your partner would actually enjoy.
Merry Christmas!
Here are some of the posts that caught my eye. Hope you find something interesting.
Today is Christmas … and it is also the last night of Chanukah. So, Merry Christmas and Happy Chanukah! And Happy Festivus to anyone who doesn't celebrate either.
For those that don't know, Chanukah is the Jewish festival of lights. This is the holiday that involves lighting the Menorah (Chanukah candles), eating latkes (potato pancakes), exchanging gifts, playing spin the Dreidel (a gambling game), and enjoying a sense of family togetherness for eight days and nights.
That's a long time, right?! Well, sometimes it seems even longer with my family.
To help you stay in the right mood, here is a video of "The Chanukah Song," performed by comedian Adam Sandler on Saturday Night Live. It became an instant classic (and he has since released a second, third, and fourth version.)
Here is the video. And, if you're feeling left out – here's Adam Sandler's Christmas Song.
The cynic in me believes merchants invented the gift part of the holiday.
Regardless, the Capitalogix team has been festive, and the office has been filled with holiday cheer. Here is a picture that some of the team took after our ugly sweater contest.
I hope you're having a wonderful celebration surrounded by people you love and food that would make your cardiologist feel safe buying a new Porche.
One of my go to claims about AI is that it can do almost anything … but it can't do everything. Specific AI systems are becoming incredibly robust. Last year, I wrote an article emphasizing how big of a jump GPT-3 was from past language processors. I also shared a Seinfeld sketch created by GPT-3 that was so good it was almost unimpressive … it just felt like a Seinfeld sketch.
It feels like every week, there's a new breakthrough in pop AI. OpenAI just released ChatGPT (for free) to the public. The promise of ChatGPT is to give a cogent reply to conversational discussions. It can help you code, it can write a poem, can answer your questions, and more. The code it produces is stellar, and it can even create a convincing romantic comedy using characters from various famous shows. It does a lot very well, but it does have some failings.
GPT-3 is 100x bigger than any previous language AI model and comes pre-trained on 45TB of training text (499 billion words). It cost at least 4.6 million US dollars (some estimated as high as $12 million) to train on GPUs. The resulting model has 175 billion parameters. This was impressive enough, but ChatGPT is actually not based on GPT-3 but GPT3.5 an even more robust model that improved on the ability to answer in a way that feels natural.
ChatGPT can talk about almost any topic you can think of, and even create prose that feels human; however, it's not perfect yet.
Unfortunately, this chatbot fails in many of the same ways as its predecessors. To start, it can present false information as true because it's essentially a "stochastic parrot" basing its answers on statistical regularities in its data sources, not on an actual understanding of the world. As well, a lot of its answers can include meaningless fluff that sounds good but doesn't actually answer the question meaningfully … almost like a high schooler that forgot to read the book before writing an essay. It also can't produce ASCII art despite the advancements in AI art we've recently discussed.
Regardless of ChatGPTs faults, it's a very impressive piece of software. It can answer trivia like Google, write poetry and dialogue, it can pretend to engage in philosophic discussion, and it can help you correct your code or improve your writing.
Here's a sonnet I had it write about Artificial Intelligence:
AI, the future's shining light,
A force that shapes our world anew,
A source of endless possibility,
A tool that cuts our burdens in two.From language translation to deep learning,
AI's capabilities are vast and grand,
It helps us solve problems, find solutions,
And gives us new ways to understand.But with great power comes great responsibility,
As AI transforms our world and lives,
We must ensure that it's used ethically,
That it helps, rather than subverts or deprives.So let us embrace this technological marvel,
And use it wisely, for the common good,
For AI has the power to unravel
Our deepest mysteries, as well as hurdles.
It does what it is supposed to do very well. It is much more conversational and robust than previous chatbots. Obviously, it doesn't do everything well, and I doubt a chatbot will any time soon. Nonetheless, it is a step forward … and it will create ripples of progress.
What do you think?
Happy first night of Hanukkah!
Here are some of the posts that caught my eye. Hope you find something interesting.
For all the drama at Twitter, they're not the only ones experiencing layoffs in the tech industry. Though, Elon is now (supposedly) trying to renege on his severance packages.
via visualcapitalist
Meta and Amazon saw even steeper layoffs than Twitter. Is this a result of overhiring during the tech boom, or a sign of dire times? Time will tell.
Stated reasons are economic uncertainty and poor performance, we're also seeing unsuccessful departments downsize – like Alexa.
To help allay economic fears, payroll and wage data from the U.S. government are exceeding expectations, and the country’s unemployment rate is close to a half-century low. As well, tech jobs account for 3% of the workforce – and many of those laid off will be picked up by smaller companies.
Even if the layoffs represent a short term reaction to what tech companies are seeing, hearing, or otherwise experiencing … they won't necessarily translate to long term bad news for our economy.
Two weeks ago, I shared an article about creating your annual plan (and how Capitalogix does it). Last week, I shared how to set your goals higher and envision a bigger future for yourself and your business.
This week I want to talk about how I set and meet my goals. Clearly, I'm a big-picture guy … but it's important to think about the coming year as well.
I think about it a bit like using a map. Even if you know your intended destination, you still have to start with 'where you are' to figure out the best way to get there.
There are seemingly infinite potential paths … but motion in a direction isn't really "progress" if it doesn't take you toward your desired destination.
To start with, resolutions only work if you actually "want" to make them happen. It's one thing to hope that something magically falls in your lap; it's another to want to put in the work.
With that being said, here are some tips.
Below, I'll take you through an example of each of the four steps.
Moving Towards a Solution, Rather Than Suffering From the Problem.
Before I got back into my health, my first instinct was to think, "I need to lose weight." Knowing that "you're fat" isn't helpful … my head quickly translates that to something a tad more positive, yet generic, like: "I choose to be healthy and vital, and to live a healthy lifestyle."
Blah, blah … They are just words. What I needed was something specific, measurable, and actionable. How about: "I will lose 15 pounds and stop eating after dinner." OK, but that isn't inspiring, and there isn't much for me to do. I can do better than that.
Figure-Out a Big Enough WHY, Rather Than Worrying about the HOW's.
This post isn't about health and fitness; it is about the mindset and techniques you can use to set empowering goals and plans in any situation.
So, while I could list many ways to lose weight (and I might even remember to do some of them), leveraging a driving force creates momentum. In other words, the first step in "Doing" is knowing WHY you want something.
I really do want to be healthy, fit, and vital (it sure beats the alternatives), and I want to have the energy and confidence to live and enjoy my life fully. The world is my playground, and I want to take advantage of more opportunities to play with family and friends. However, to do those things, I must find better ways to live a healthy lifestyle.
The WHYs are just as important for business goals too.
Focus on Potential Solutions, Rather than Problems or Challenges.
Obstacles Exist. The bad news: I don't eat fish, and I don't like vegetables (unless French Fries are vegetables). My joints aren't close to healthy from years of violent contact sports. I rarely get 7 hours of sleep, and who'd have thunk it, but being a CEO of a startup is stressful. The good news: is none of those things matter; and even if they did, it just would mean that I have a lot of room for progress.
It is natural to focus on obstacles. But most obstacles are surmountable – with a big enough WHY, even I'll start to eat vegetables. Instead of dwelling on the limitations, use them as a reminder to focus on potential solutions. They are beacons pointing the way.
How do you do it? To focus on solutions, you can make two action-based lists: one is of things To-Do … and another is of things Not-To-Do.
Here are some of the sample To-Do Items:
Here is the actionable list of Not-To-Do Items.
Create Healthier Habits.
It is easy to follow a routine. So, here's another tip … make your routine better. Here are some examples of things you could do to make being healthier happen with less effort.
You get the idea. Get in the habit of looking for ways to create better habits. What habits could you alter slightly to make a big difference? Which things can you automate or outsource?
For two books about the subject, I recommend Tiny Habits by B.J. Fogg and Willpower Doesn't Work by Benjamin Hardy.
Focus on Your Progress.
In this case, it really is about the journey. Instead of keeping track of how far you have to go … notice how far you've come. Utilize an internal locus of control. It is about creating energy, momentum, and a sense of possibility. You may have a big, hairy, audacious goal in mind. That's fine, as long as you realize that reaching each milestone along the way is still an accomplishment.
It doesn't matter what they are … they all count, as long as you know that you are moving in the right direction.
Summary
The point of this exercise was not really to focus on fitness. These techniques and goal-setting tools work in any situation. The principles are:
In my business, this translates to having a mission and vision – it's what we want, why it's important to us, and a basic strategy to get there. Then we create yearly "Big 3" goals that move us toward that long-term vision. Then, the team creates SMARTs (goals that are specific, measurable, attainable, relevant, and timely) and KPIs (key performance indicators) so they know where to spend their time, and what milestones tell them they're on the right track.
It isn't magic, but it works.
Hope this helped.
If you're interested in the health aspect of it, here are a few more articles I've written on health.
Here are some of the posts that caught my eye. Hope you find something interesting.
In the past, most profitable companies built or sold some sort of tangible product. The Titans of industry were automobile manufacturers, oil producers, land owners, etc.
Over the past 20 years, the Titans have changed dramatically. Now, the leaders are in tech, IP, and other intangible assets. Here is a chart showing the changing weight of tangible and intangible assets as part of the S&P 500’s total assets between 1975 and 2020.
via visualcapitalist
By VisualCapitalist’s definition, intangible assets are holdings that don’t carry any physical or financial embodiment. This includes R&D, intellectual property, and computerized information such as data and software. Today, intangibles are worth over $21 trillion.
With technology becoming more ubiquitous, I think the trend will continue – which makes protecting your intangibles even more important.
Patents and trademarks are a great way to build a moat between you and your competitors. Remember, however, that anything you get a patent on becomes public knowledge – so be careful with your trade secrets.
Last week, I shared an article about creating your annual plan (and how Capitalogix does it). This week, I want to talk more high-level about how we create a bigger future for ourselves, and next week I’ll talk about how I translate that bigger future into resolutions and actions.
The beginning of a new year is an excellent time for a fresh start. While it’s always the right time to take the right action, the structure of a year-end is a helpful crutch and force function.
We look forward to what we will achieve – even though history says we rarely achieve everything we hope for. Meanwhile, paradoxically, it is also true that we rarely achieve things we don’t hope for. So, Hope! It may not be a reliable strategy … but it beats the alternative.
I’m excited about 2023. Despite the abnormal market, the crazy headlines, and the still volatile political climate, we’re moving toward increased stability.
Even though I expect some volatility, we have become more accustomed to handling it (and we’ve become better at transforming its strategic byproducts into strategic benefits).
On a different topic, think about how much progress we’ve made and how different the “new normal” has become. For example, think about Zoom and remote work or how quickly our economy migrated online. On many levels, what we are doing now seemed like science fiction, even just a few years ago.
We are living in an age of exponential technologies and exponential possibilities.
I commissioned this image from GapingVoid, to remind our team to keep shooting higher.
Resilience, resourcefulness, and a worthy goal are the foundational keys to many entrepreneurial success stories.
In the spirit of New Year’s Resolutions – I’ll add that a deliberate approach to goals is important too.
I’m a big fan of picking a Big Hairy Audacious Goal (sometimes called a “BHAG”) and taking actions that move you in that direction.
I’m also a big fan of Strategic Coach’s Bigger Future exercise. It is a 25-year planning exercise where you lay out your commitments and goals to yourself, your family, your career, and your legacy. One of the keys to this is chunking high enough to name the roles, goals, and strategies you select with timeless language (meaning that the target words hold up even as you pivot and adjust your focus and actions).
While doing this, I realized that my ideal next chunk of years involves taking Capitalogix to the next level (and beyond) through collaboration, cooperation, and joint ventures.
Once you know your long-term goal, it is relatively easy to plan the steps you need to achieve it. Achieving smaller goals reinforces successes, builds momentum, and makes continued progress feel more likely.
Extra points if you make them SMARTs (Specific, Measurable, Attainable, Realistic, and Time-Bound).
Actions speak louder than words, and your words can distract you.
If your goal is to win first place at a competition, focus on the metrics of a first-place finish instead of the medal. This makes the goal concrete and sets an internal locus of control for your victory. This also means you don’t need to tell others about your goal too soon. Studies show that when you announce your intention to achieve a goal in public, you decrease the likelihood of succeeding.
It’s okay to misstep, and it’s okay to get stuck – but recognize where you are and what you’ve done … and move forward.
Delayed gratification happens when you want something badly, but are not able to get it right away. The result is often anger or frustration.
Meanwhile, the mainstream media broadcasts a seemingly non-stop stream of messages screaming for immediate attention and gratification. The result of that is not good either (for example, it can result in higher rates of obesity, drug abuse, and depression).
Don’t be fooled. Overnight successes are rarely actually overnight successes (for long).
It’s also important (once you’ve accomplished your goal) to set new goals.
Over the next 25 years, there are many people I want to impact – and many goals I want to accomplish.
It hasn’t always been easy – but building Capitalogix has been an intensely rewarding passion. It has been easier because I want what I want. Make sure you know what you really want … it makes getting it much easier.
I look forward to you all being a part of it as well. Here’s to a successful 2023 and an even more successful 2048.
Onwards!
