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Business
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Rich People Spend Their Time Differently: An Income Distribution in Americans’ Pastimes
When it comes to American pastimes, many people focus on the big 3 sports: Football, Basketball, and Baseball. Nevertheless, there are a lot of different ways people spend their time. It is interesting to see what they watch – and what they actually play.
Nevertheless, there are a lot of different ways people spend their time. It is interesting to see what they watch – and what they actually play.
There is also a big difference based on income distribution. Here is an infographic.
via VisualCapitalist
Apparently, rich people like golfing, yoga and racquet sports … while poorer people disproportionately liked relaxing, writing for personal interest, and having hobbies.
It is also kind of interesting to see when people tend to do certain activities. Here is a chart showing the peak time for various sports and activities.
via Henrik Lindberg
You could build a business around data like that.
Interesting?
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The Bezos Empire: Amazon, Whole Foods and More
Jeff Bezos is has acquired a lot of businesses since starting Amazon – Zappos, Audible, IMDB, and most recently Whole Foods (for $13.7 billion dollars).
On top of acquiring those businesses for Amazon – he also has diversified his own interests through Bezos Expeditions and as an angel investor.
Here is a chart to put things in perspective. Click on the image to see the whole infographic.
via VisualCapitalistTo grow the business, their customer base, and their competitive advantage … Amazon and Bezos re-invest heavily by aggressively acquiring companies and technologies – even though that strategy virtually eliminates Amazon's profit.
Despite minimal profits (literally less than a handful of profitable quarters since it started in 1994), Amazon has a market cap of roughly $470 billion in market capitalization. They've shown that there's a new algorithm for success – it's about vision and market domination. It is a long game with big stakes … and it looks like he's winning.
They've shown that there's a new algorithm for success – it's about vision and market domination. It is a long game with big stakes … and it looks like he's winning.
But You'd Still Call Them A Success
"Bezos recently told shareholders that the goal is to 'experiment patiently, accept failures, plant seeds, protect saplings, and double down when you see customer delight.'"
via Forbes
It's a similar idea to one that I've adopted – though on a different scale.
When people first look at Capitalogix they see a hedge fund – but that is just an application of our core capabilities. Internally, we know that we are an innovation engine that uses domain expertise in algorithmic trading, data science, and high-performance computing to generate something new.
Edges decay or disappear faster than ever before – that's what drives our pursuit of more ways to win.
When changing the way people play a game – you can't play by the same rules people used to.
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A World of Languages
I've been in Indonesia during the past week. I'm surprised by how little is known about it, despite its size and population.
Here are a few strange facts. Indonesia is the world's largest island country, with more than seventeen thousand islands. It has an estimated population of over 260 million people and is the world's fourth most populous country, as well as the most populous Muslim-majority country.
While the official language is Indonesian (also known as Bahasa Indonesia), a variant of Malay, most Indonesians speak other languages, such as Javanese, as their first language. More than 700 regional languages are spoken in Indonesia's numerous islands.
That got me thinking about language.
There are over 7000 known languages still spoken in the world today.
23 of those languages create the native tongues of over 4 Billion people.
This chart below is a pretty helpful illustration of prevalence and location.
Alberto Lucas López via InformationIsBeautifulWhile American's tend to think English is the most prevalent language, we actually come in third behind Chinese and Spanish.
While based on population density, and reproduction, it seems like Chinese (Mandarin) will only widen its lead, it's worth noting that its influence wanes greatly outside of Asia.
How long will that last?
When I was younger, English was the language of business, but it may be time for you to brush up on your Chinese.
For more, here is a link to the Washington Post's article: The world’s languages, in 7 maps and charts.
向前! (Onwards!) -
Conditioning Yourself To Take The Best Next Step
Is How You Do Something … How You Do Everything?I think so. To make the point, let me start with a brief story.
I was at the gym and getting pretty close to the end of my workout.
Frankly, I was at a point where being done was way more attractive than the option of doing additional exercise.
Over time, I've developed many habits and beliefs that focus on finding best next step -or a way to do just a little bit more. So this time, I used reverse-counting to help me finish that workout strong.
I started with 10 push-ups. I know I can do 10 push-ups, even at the end of a hard workout. Without putting my knees down, I can rest in plank position for a moment or two … then I do nine more push-ups. That has to be easier than 10, right? Then eight more … seven … six. You get the point.
Each set is a little bit harder than the one before; but mentally I'm prepared for it, and can convince myself that I'm so much closer to the goal.
So I get to three, and sweat is dripping off my nose, my arms are shaking, and my hips want to sway. Somehow knowing that there's only two more sets, then only one more, allows me to finish.
That story could have been about creating profitable trading systems, developing a new database, or recovering from a set-back. It's about finding a way, regardless of external circumstances.
Finding a Way to Do Just a Little Bit More.
There are many times that it seems easier to do nothing, or to give up. That's just not my nature. It's not in my "nurture" either.
My father used to say that the secret to success was getting up. What he meant was that if someone knocked you down 10 times, then the secret to success was getting up 11 times. And if someone knocked you down another time, then the secret was to get up 12 times. There's a lot of truth in that.
I laugh when I think of all the little things I do that condition me to take the best next step. Here are a few examples of small things that help define that mindset.
- I never stop reading until I finish a chapter.
- Also, when I play a strategy game on my iPhone, I never stop until I win.
- And, when I play a strategy game that I'm good at, I never stop until I achieve a certain score.
It doesn't matter if I'm frustrated or tired. I find a way. Each of these things, in its own small way, helps condition me to know that I can do anything I commit to do. Ultimately, what that means is that regardless of what happens, my outcome depends most on what I choose to do.
Sometimes these habits seem silly, quirky, or even a little bit OCD to me. Yet, they serve me.
Many benefits come from knowing that the game's not over until you say it is … or until you win.
Moreover, it's comforting to know that there's always a best next step, or at least a different perspective that will create new opportunities and possibilities.
I tend to take that perspective in business as well. We focus on the progress we're making, and what that makes possible, rather than how far we are from the ultimate goal. Why? Because as we continue to make progress, the things we shoot for are bigger and farther away. Focusing there would always show a shortfall. Obstacles and set-backs become the raw material for new growth, ideas and strategies. The trick is getting back up, isn't it?Sometimes the best advice is simple. Nike got it right in their ad … Just Do It.
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Here Are Some Links For Your Weekly Reading – June 17th, 2017
The new normal.
Here are some of the posts that caught my eye. Hope you find something interesting.
- Putin Implies the U.S. is ‘Stupid’, Talks about NATO ‘Falling Apart’. (ValueWalk)
- Anti-Semitic Incidents Rose a Whopping 86% in the First 3 Months of 2017. (Apple)
- Beyond Alt: Understanding the New Far Right. (NYMag)
- Malcolm Gladwell on Why We Shouldn’t Value Speed Over Power. (Heleo)
- Learning to Distinguish “Fear” from “Fear of Fear” is Key to Leading a Happy Life. (Quartz)
- Puerto Rico Votes in Favor of Statehood. (TheHill)
- Trump Tweets and the Efficient Market Hypothesis. (SSRN)
- Tony Robbins: What I Learned from the World's Greatest Investors. (Time)
- The World's Highest-Paid Musicians of 2016 – Pg.1. (Forbes)
- For Aramco Insiders, Prince’s $2 Trillion IPO Valuation Doesn’t Add Up. (WSJ)
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JIM ROGERS: “The Worst Crash In Our Lifetime Is Coming”
Jim Rogers knows a thing or two about markets. He is a successful investor and businessman (and was a co-founder of the Quantum Funds).
He recently talked about his expectations for the next couple of years. It's worth watching.
Jim predicts a crash within the next year (due to the bubble on many stocks popping).
There are many things that could be the catalyst for the fall, but he predicts it will be not only the worst in your lifetime, but also in his lifetime (and he's pretty old!).
Blodget: Can anybody rescue us?
Rogers: They will try. What’s going to happen is they’re going to raise interest rates some more. Then when things start going really bad, people are going to call and say, "You must save me. It’s Western civilization. It’s going to collapse." And the Fed, who is made up of bureaucrats and politicians, will say, "Well, we better do something." And they’ll try, but it won’t work. It’ll cause some rallies, but it won’t work this time.
Blodget: And we are in a situation where Western civilization already seems to be possibly collapsing, even with the market going up all the time. Often when you do have a financial calamity, you get huge turmoil in the political system. What happens politically if that happens?
Rogers: Well, that’s why I moved to Asia. My children speak Mandarin because of what’s coming.
You’re going to see governments fail. You’re going to see countries fail, this time around. Iceland failed last time. Other countries fail. You’re going to see more of that.
You’re going to see parties disappear. You’re going to see institutions that have been around for a long time — Lehman Brothers had been around over 150 years. Gone. Not even a memory for most people. You’re going to see a lot more of that next around, whether it’s museums or hospitals or universities or financial firms.
Scary stuff.
What do you think is going to happen?
If our current actions are leading us towards a crash, what will stop it?
How will Algo trading help or hurt the outcome for the masses (and the few)?
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Inspiration Comes In Many Forms …
Once a year, I go to the World BBQ Championship at Memphis in May.
It's three days of friends, food, and fun.
This year was special. My friend, Andy Daniels' tent won third place in the ribs contest.
In addition, I gained some inspiration while spending time at Doug McKnight's tent with Blake Carson.
Have you ever been to a Brazilian steakhouse? On top of an endless supply of meat, they also have a unique "churrasco" cooking and presentation style.
Blake saw that style of cooking – and innovated it – creating the Carson Rodizio kit (which started as a Kickstarter project). It is a multi-rotisserie rack that converts your favorite backyard grill into an open and spinning Brazilian style Steakhouse. It's clever, functional, and cool … and it's been used to win multiple barbecue championships.
I love to experience an entrepreneur's mind at work.
It's not always about what you add. Sometimes, it is about what you take away. Less is often more.
Here is a one-minute interview with Blake.
For more on Carson Rodizio, here is their Facebook page.
Innovation, like opportunity, is all around you.
But it's not there for you if you don't see the opportunity, and seize it.
Tasty!
