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  • AI Tools For Your Business

    Last week, I talked about the time value of time – and the benefit of quality peer groups. 

    On Friday, one of those peer groups spent hours talking about the promise and peril of generative AI. While some people remained skeptical or in fear of what tools like ChatGPT made possible. 

    One of the members shared an AI tool directory that I thought was worth sharing as well. It's called Futurepedia.io 

    Screen Shot 2023-01-13 at 9.39.19 PM

    via futurepedia.io

    My contribution to the discussion was brief, but it amounts to this … Nothing you're hearing about AI should scare you. It should scream opportunity.  You don't have to rush.  AI is at the beginning of a long upwards sloping cycle of impact and capability. However, AI isn't duct tape, and for most, it's not a business … it's a tool to help you create a bigger future that wasn't possible before.  Much like "internet" companies came and went in the late 1990s … yet almost every company uses the internet in ways that were unimaginable at the beginning of the cycle.

    People often get stuck searching for 'something' (often a singular goal or result). But, in their myopia, they miss the possibility of 'or something better.' 

    In my business, I'm rarely happy to settle for less than I'm aiming for … but I am willing to happily take the 'or something better'. Nonetheless, it is hard to see (let alone be open to) other targets or possibilities when you myopically focus on achieving the lesser (but specific) goal or target you initially chose to focus upon.

    So, here is a thought to ponder …

    What is opportunity, and when does it knock? It never knocks. You can wait a whole lifetime, listening, hoping, and you will hear no knocking. None at all. You are opportunity, and you must knock on the door leading to your destiny. You prepare yourself to recognize opportunity, to pursue and seize opportunity as you develop the strength of your personality, and build a self-image with which you are able to live — with your self-respect alive and growing. ~ Maxwell Maltz

    Imagine what you believe this tipping point indicates is possible personally and professionally.

    Hope that helps. 

  • Best and Worst Performing Sectors of 2022

    Last year was the worst year for the U.S. stock market since the 2008 financial crisis. 

    Of course, even in a down year, some things do well. Trading is a zero-sum game. If some people lose money, others make it. 

    Visualcapitalist put together a great visualization of the winners and losers of 2022.

     Stock-market-winners-losers-2022

    Click to see full size via visualcapitalist

    It's very easy to see what sector won in 2022 … Energy. While the Fed raised interest rates seven times, Russia invaded Ukraine, and the supply chain continued to struggle, Energy still saw a massive boon. 

    Perhaps unsurprisingly, several healthcare companies did well – specifically larger pharma companies. 

    On the other side of the balance, tech stocks languished in 2022. Across the board, the largest tech companies lost 20% and more. Real estate also suffered heavily with high-interest rates, uncertainty in the marketplace, and a generation of workers who are unsure if they'll ever own a home. 

    Do you think these trends will continue or reverse in 2023? History says "no" … but time will tell!

  • Here Are Some Links For Your Weekly Reading – January 8th, 2023

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

    Lighter Links:

    Trading Links:

  • On The Time Value Of Time

    I have always believed that you can predict a lot about your future based on the quality of the people you spend the present with.

    That is why I think participation in quality peer groups is critical. 

    Over the years, I joined several business-leader peer groups like Strategic Coach,  Abundance 360, and Genius Network.  These groups are a great way to meet people and learn things … and they also provide you with access to the benefits of feedback from a group of trusted advisors, perspectives you might otherwise get from a counselor, and a flow of ideas and opportunities that wouldn't have crossed your mind or your desk.  They allow participants to see, hear, and discuss things they don't usually think about, talk about, or even notice.

    Peer groups are also great at bringing blind spots to your attention and connecting you to trends transforming industries and the world.

    In these meetings, you often find a "nugget" in the discussion.  Sometimes it stems from what is happening in the world.  Sometimes it alerts you to potentially valuable relationships, opportunities, or gadgets.  And sometimes, the nugget comes from discussing a common problem or constraint (like the pandemic) with your peers. 

    This week, several of these groups prompted me to think about time (e.g., not wanting to sell time for money, wanting to live past 100, the "strangeness" of time during the past year, etc.). 

    Time is funny.  Sometimes it seems to fly by … other times, it seems to stand still.  Dan Sullivan uses the example of 10 minutes with a dying loved one compared to holding your hand on a stove for 10 minutes.  One seems excruciatingly short, and the other seems excruciatingly long. 

    zefrank via YouTube

    The average life expectancy for men in the U.S. is 76.

    How many amazing vacations do you have left?  How many jaw-dropping moments?  How many fantastic meals?  How many Super Bowls?

    What about time with your parents or older relatives?  It's easy to forget to call or miss an important event because "life happens" – but if you realize you may have already used 95% of your in-person time with that person … doesn't it become more special?

    For contrast:

    • Would you rather spend that time dwelling on a mistake?
    • What about being angry at something out of your control?
    • What about doing work that drains you mentally and emotionally?

    In my TEDx talk, I mentioned "living like you only have a year left" and how much more "life" we got out of the last part of my dad's life. 

    That is just an example, but clearly, it is worth taking the concept further. 

    To start, think of some of the activities you do, places you go, experiences you have that are special and make you feel like your best self. 

    • Hitting Flow-state and creating something new and exciting;
    • Taking an amazing vacation and experiencing something completely new;
    • Having a moment with someone you love that makes you stop and say – "Wow!"
    • Making a difference in someone's day or giving back to your community;
    • Experiencing peace and relaxation;
    • Feeling pure joy.

    It's easy to get lost and take these moments for granted when they happen, but when you think about how much time you have left … they take a whole new meaning. 

    TimeisrelativeHow can you maximize the time you have left?  Fill it with the best experiences, activities, and people you can.

    To start, think about different time frames:

    • What activities could you commit to doing at least once a year?
    • What activities could you commit to doing at least once a month?
    • What activities could you commit to doing at least once a week?
    • What activities could you commit to doing at least once a day?

     Make those lists … it is a simple way to get a better return on the time value of your life.

    Seriously, try it.  

    Let me know how it worked for you – and what you chose! 

     
     

  • How’d These 2022 Predictions Fair?

    As we brought in 2022, I asked the question:

    What's going to happen as a result of the continuing pandemic, inflation, interest rates, the ongoing supply chain issues, and the growing anxiety and unrest brewing underneath the surface of the new normal? In January, we'll get to see VC's predictions. Before that, what do you expect to happen in 2022? - How'd These 2021 Predictions Fair?

    I proceeded to share visualcapitalist's 2022 predictions: 

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    via visualcapitalist

    Well, there was undoubtedly increased volatility. 

    While the whole board isn't correct, there's a surprising amount of prediction accuracy. On some level, predictions benefit from being generally vague. Also, many of the predictions that may not seem as accurate "today" seemed more accurate at some point this year. For example, we heard a lot about NFTs in the first half of the year, and while Big Tech is currently laying off employees, there was massive growth this year. 

    What are you surprised they got right? In what areas were the predictions most off-base? Why?

    And, of course, what are your mega-trend predictions for 2023?

    Interesting stuff! 

  • Here Are Some Links For Your Weekly Reading – January 1st, 2022

    Happy New Year!

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

    Lighter Links:

    Trading Links:

  • What Year Is It?

    It is officially 2023 …  new year – and a new set of opportunities. 

    But that's only based on the Gregorian calendar. Those of you that have followed me for a while know I often go to Asia for Chinese New Year (Gong Xi Fa Cai!) … but that's also only one of many New Years. 

    While the following chart is a day late (and thus, a year out-of-date from a Gregorian perspective), it is a handy little guide for knowing what year it is. Check it out. 

    IMG_9728 Like most things, time is relative. It can seem to go fast, it can seem to go slow … sometimes it seems like it stands still. It's a matter of perspective. As we just saw, so is the calculation of what year it is. But, so too is the perspective of what you pay attention to, what you make it mean, and what you choose to do. There's no absolute "right" – only a seemingly endless stream of choices and opportunities.

    I hope you had a productive and happy 2022 – and an even better 2023. 

    Onwards!

  • The Twelve Days of Christmas …

    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." 

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    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. 

  • Here Are Some Links For Your Weekly Reading – December 25th, 2022

    Merry Christmas!

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

    Lighter Links:

    Trading Links:

  • Merry Chrismakkuh

    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.

    MicrosoftTeams-image (3)

    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.