Personal Development

  • 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.

  • 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.

     

    DQKRk6pWAAMtoQi

    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:

    ___________________

    6a00e5502e47b288330120a760ef7a970bInspiration 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:

    6a00e5502e47b288330120a77e4063970b-800wi"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:

    _____________________

    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."

  • A Lesson From My Grandmother … On AI

    I was at an event last week where (unsurprisingly) we focused heavily on AI.  Conversations ranged from use cases for generative AI (and the ethics of AI image creators) to the long-term effects of AI and its adoption.

    Before I could chime in, the conversation had gone to the various comparisons from past generations.  When electricity was harnessed, articles claimed that it would never catch on, it would hurt productivity, and what of the artisans it would potentially put out of business if it were to gain traction. 

    When the radio or TV was released, the older generation was sure it would lead to the death of productivity, have horrible ramifications, and ultimately lead to the next generation's failure. 

    People resist change.  We're wired to avoid harm more than to seek pleasure.  The reason is that, evolutionarily, you have to survive to have fun. 

    On the other hand, my grandmother used to say: "It's easy to get used to nice things." 

    My Little Corner of the World: Grandma's Hands

    Here's a transcript of some of my response to the discussion: 

     

    With AI, getting from "Zero-to-One" was a surprisingly long and difficult process.  Meaning, getting AI tools and capabilities to the point where normal people felt called to use it because they believed it would be useful or necessary was a long and winding road.  But now that everybody thinks it's useful, AI use will no longer be "special".  Instead, it will become part of the playing field.  And because of that, deciding to use AI is no longer a strategy.  It's now table stakes.

    But that creates a potential problem and distraction.  Why?  Because, for most of us, our unique ability is not based on our ability to use ChatGPT or some other AI tool of the day.  As more people focus on what a particular tool can do, they risk losing sight of what really matters for their real business.

    Right now, ChatGPT is hot!  But, if you go back to the beginning of the Internet, MySpace or Netscape (or some other tools that were first and big) aren't necessarily the things that caught on and became standards.

    I'm not saying that OpenAI and ChatGPT aren't important.  But what I believe is more important is that we passed a turning point where, all of a sudden, tons of people started to use something new.  That means there will be an increase of focus, resources, and activity concentrated on getting to next in that space.

    You don't have to predict the technology; it is often easier and better to predict human nature instead.  We're going to find opportunities and challenges we wouldn't because of the concentration of energy, focus, and effort.  Consequently, AI, business, and life will evolve.

    For most of us, what that means is that over the next five years, our success will not be tied to how well we use a tool that exists today, but rather on how we develop our capabilities to leverage tools like that to grow our business. 

    But your success will not be determined by how well you learn to use ChatGPT.  It will be determined by how well you envision your future and recognize opportunities to use tools to start making progress toward the things you really want and to become more and more of who you really are.  Right?

    So, think about your long-term bigger future?  Pick a time 5, 10,  or even 20 years from now.  What does your desired bigger future look like?  Can you create a vivid vision where you describe in detail what you'd like to happen in your personal, professional, and business life?  Once you've done that, then try to imagine what a likely midpoint might look like?  And then, using that as a directional compass, try to imagine what you can do in this coming year that aligns your actions with the path you've chosen?

     

    Ultimately, as soon as you start finding ways to use emerging technologies in a way that excites you, the fear and gloom fade.

    The best way to break through a wall isn't with a wide net, but rather with a sharp blow.  You should be decisive and focused. 

    I remember being an entrepreneur in the late 90s (during the DotCom Bubble).  And I remember watching people start to emulate Steve Jobs … wearing black turtlenecks and talking about which internet company would be the "next big thing" at social gatherings.  Looking back, an early sign that a crash was coming was that seemingly everybody had an opinion on what was going to be hot, and too many of them were overly confident. 

    The point is that almost nobody talks about the Internet that way anymore … in part because the Internet is now part of the fabric of society.  At this point, it would be weird if somebody didn't use the Internet.  And you don't really even have to think about how to use the Internet anymore because there's a WHO to do almost all those HOWs. 

    The same is going to be true for AI.  Like with any technology, it will suffer from all the same hype-cycle blues … inflated expectations and then disillusionment.  But, when we come out the other side, AI will be better for it … just like the Internet, the silver screen, or even radio stations. 

    Earlier, I mentioned how long it took to get from "Zero-to-One" with AI.  But we're still at like three" or a "five" on a 100-point scale.  Meaning, you are at the beginning of one of the biggest and most asymptotic curves that you can imagine.  And you're not late … you're early!  Even the fact that you're thinking about stuff like this now means that you are massively ahead.

    Better Wealth, Health and Self Through Exponential Relationships — Just Start Go

    The trick isn't to figure out how to use AI or some AI tool.  The trick is to keep the main thing the main thing.

    Investing resources into your company is one thing.  Realize that there are 1000s of these tools out there, and many more coming.  You don't have to build something yourself.  It is often faster and better to acquire a tool than it is to spend money on developing and building it.

    Think of the Medici family.  They invested in people, which in turn triggered the Renaissance.  A key to moving forward in the Age of AI will be to invest in the right people who seek to create the kind of world you want to see.  Think of this as a strategic investment into creators and entrepreneurs with a vision who are on a path that aligns with yours.

    As you get better and better at doing that, you'll see increasing opportunities to use tools to engage people to collaborate with and create joint ventures.  Ultimately, you will collaborate with technology where it's your thought partner and then your business partner.  We are entering exciting times where AI, automation, and innovation will make extraordinary things possible for people looking for opportunities to do extraordinary things.

  • How Smart Is ChatGPT?

    It gets a little old talking about ChatGPT so often … but it's rightfully taking the world by storm, and the innovations, improvements, and use cases keep coming. 

    This week, I'm keeping it simple. 

    VisualCapitalist put together a chart that helps contextualize how well ChatGPT tests on several popular placement tests. 

    How smart is ChatGPT? We examine exam scores in this infographic

    via visualcapitalist

    It also shows the comparison between versions 3.5 and 4.

    ChatGPT 4 improvements include plugins, access to the internet, and the ability to analyze visual inputs. 

    Interestingly, there were a couple of places where version 4 didn't improve … Regardless, it is already outperforming the average human in these scenarios.

    Obviously, the ability to perform well on a test isn't a direct analog to intelligence – especially general intelligence. However, it's a sign that these tools can become important partners and assets in your business. Expect that it will take developing custom systems to truly transform your business, but there are a lot of easy wins you can stack by exploring what's out there already. 

    The takeaway is that you're missing out if you aren't experimenting. 

  • The Power of Intellectual Property

    Industry is changing fast.  In the 1900s, the world's titans mainly produced tangible goods (or the infrastructure for them).  The turn of the century brought an increasing return on intangible assets like data, software, and even brand value … hence the rise of the influencer. 

    As technology increasingly changes business, jobs, and the world, intellectual property becomes an increasingly important way to set yourself apart and make your business more valuable. 

    Which Countries are Granted the Most New Patents?

    While America is leading the charge in A.I., we're falling behind in creating and protecting intellectual property. 

    Patents can help protect your business, but they also do much more.  I.P. creates inroads for partnerships with other businesses, and they can also be a moat that makes it more difficult for others to enter your space.  On a small scale, this is a standard business strategy.  What happens when the scale increases?

    The number of patents we're seeing created is a testament to the pace of innovation in the world, but it should also be a warning to protect your innovations.  Remember, however, that anything you get a patent on becomes public knowledge – so be careful with your trade secrets. 

    If you want to hear more of my thoughts on this, I recorded a podcast with Goldstein Patent Law on this subject.

  • A Few Graphs On The State Of AI in 2023

    Every year, Stanford puts out an AI Index1 with a massive amount of data attempting to sum up the current state of AI. 

    Last year it was 190 pages … now it's 386 pages.  The report details where research is going and covers current specs, ethics, policy, and more. 

    It is super nerdy … yet, it's probably worth a skim. Here are some of the highlights that I shared last year. 

    Here are a few things that caught my eye and might help set some high-level context for you. 

    Growth Of AI

    Screen Shot 2023-04-15 at 3.38.32 PM Screen Shot 2023-04-15 at 3.13.09 PM

    via 2023 AI Index Report

    One thing that's very obvious to the world right now is that the AI space is growing rapidly. And it's happening in many different ways.

    Over the last decade, private investment in AI has increased astronomically … Now, we're seeing government investment increasing, and the frequency and complexity of discussion around AI is exploding as well. 

    A big part of this is due to the massive improvement in the quality of generative AI. 

    Technical Improvements in AI

    Screen Shot 2023-04-15 at 3.22.00 PM Screen Shot 2023-04-15 at 3.15.06 PMvia 2023 AI Index Report

    This isn't the first time I've shared charts of this nature, but it's impressive to see the depth and breadth of new AI models. 

    For example, Minerva, a large language and multimodal model released by Google in June of 2022, used roughly 9x more training compute than GPT-3. And we can't even see the improvements already happening in 2023 like with GPT-4. 

    While it's important to look at the pure technical improvements, it's also worth realizing the increased creativity and applications of AI. For example, Auto-GPT takes  GPT-4 and makes it almost autonomous. It can perform tasks with very little human intervention, it can self-prompt, and it has internet access & long-term and short-term memory management. 

    Here is an important distinction to make … We're not only getting better at creating models, but we're getting better at using them, and they are getting better at improving themselves. 

    All of that leads to one of the biggest shifts we're currently seeing in AI – which is the shift from academia to industry. This is the difference between thinking and doing,  or promise and productive output.

    Jobs In AI

    Screen Shot 2023-04-15 at 3.14.09 PMScreen Shot 2023-04-15 at 3.30.24 PMvia 2023 AI Index Report

    In 2022, there were 32 significant industry-produced machine learning models … compared to just 3 by academia. It's no surprise that private industry has more resources than nonprofits and academia, And now we're starting to see the benefits from that increased surge in cashflow moving into artificial intelligence, automation, and innovation. 

    Not only does this result in better models, but also in more jobs. The demand for AI-related skills is skyrocketing in almost every sector. On top of the demand for skills, the amount of job postings has increased significantly as well. 

    Currently, the U.S. is leading the charge, but there's lots of competition. 

    The worry is, not everyone is looking for AI-related skills to improve the world. The ethics of AI is the elephant in the room for many. 

    AI Ethics

    Screen Shot 2023-04-15 at 3.39.46 PM Screen Shot 2023-04-15 at 3.37.46 PM

    via 2023 AI Index Report

    The number of AI misuse incidents is skyrocketing. Since 2012, the number has increased 26 times. And it's more than just deepfakes, AI can be used for many nefarious purposes that aren't as visible.

    Unfortunately, when you invent the car, you also invent the potential for car crashes … when you 'invent' nuclear energy, you create the potential for nuclear bombs. 

    There are other potential negatives as well.  For example, many AI systems (like cryptocurrencies) use vast amounts of energy and produce carbon. So, the ecological impact has to be taken into account as well.

    Luckily, many of the best minds of today are focused on how to create bumpers to rein in AI and prevent and discourage bad actors. In 2016, only 1 law was passed focused on Artificial Intelligence … 37 were passed last year. This is a focus not just in America, but around the globe. 

    Conclusion

    Artificial Intelligence is inevitable. It's here, it's growing, and it's amazing.

    Despite America leading the charge in A.I., we're also among the lowest in positivity about the benefits and drawbacks of these products and services. China, Saudi Arabia, and India rank the highest. 

    If we don't continue to lead the charge, other countries will …Which means we need to address the fears and culture around A.I. in America. The benefits outweigh the costs – but we have to account for the costs and attempt to minimize potential risks as well.

    Pioneers often get arrows in their backs and blood on their shoes.  But they are also the first to reach the new world.

    Luckily, I think momentum is moving in the right direction. Watching my friends start to use AI-powered apps, has been rewarding as someone who has been in the space since the early '90s. 

    We are on the right path.

    Onwards!

    _____________________________________

    1Nestor Maslej, Loredana Fattorini, Erik Brynjolfsson, John Etchemendy, Katrina Ligett, Terah Lyons, James Manyika, Helen Ngo, Juan Carlos Niebles, Vanessa Parli, Yoav Shoham, Russell Wald, Jack Clark, and Raymond Perrault, “The AI Index 2023 Annual Report,” AI Index Steering Committee, Institute for Human-Centered AI, Stanford University, Stanford, CA, April 2023. The AI Index 2023 Annual Report by Stanford University is licensed under

  • 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

  • Tech Over The Long Run

    Humans are wired to think locally and linearly … because that's what it took to survive in a pre-industrial age. However, that leaves most of us very bad at predicting technology and its impact on our future. 

    To put the future of technology in perspective, it's helpful to look at the history of technology to help understand what an amazing era we live in. 

    Our World In Data put together a great chart that shows the entire history of humanity in relation to innovation. 

    Longterm-timeline-of-technology

    Max Roser via ourworldindata

    3.4 million years ago, our ancestors supposedly started using tools. 2.4 million years later they harnessed fire. 43,000 years ago (almost a million years later) we developed the first instrument, a flute. 

    That's an insane amount of time. Compare that to this:

    In 1903, the Wright Brothers first took flight … 66 years later, we were on the moon. 

    That's less than a blink in the history of humankind, and yet we're still increasing speed. 

    Technology is a snowball rolling down a mountain, picking up steam, and now it's an avalanche being driven by AI. 

    But innovation isn't only driven by scientists. It's driven by people like you or me having a vision and making it into a reality. 

    Even though I'm the CEO of an AI company, I don't build artificial intelligence myself … but I can envision a bigger future and communicate that to people who can. I also can use tools that help me automate and innovate things that help free me to focus on more important ways to create value. 

    The point is that you can't let the perfect get in the way of the good.  AI's impact is inevitable.  You don't have to wait to see where the train's going … you should be boarding. 

    Onwards! 

  • Can We Predict The Future?!

    New technologies fascinate me … As we approach the Singularity, I guess that is becoming human nature. 

    Second Thought has put together a video that looks at various predictions from the early 1900s. It is a fun watch – Check it out. 

    via Second Thought

    It's interesting to look at what they strategically got right compared to what was tactically different. 

    In a 1966 interview, Marshall McLuhan discussed the future of information with ideas that now resonate with AI technologies. He envisioned personalized information, where people request specific knowledge and receive tailored content. This concept has become a reality through AI-powered chatbots like ChatGPT, which can provide customized information based on user inputs.

    Although McLuhan was against innovation, he recognized the need to understand emerging trends to maintain control and know when to "turn off the button." 

    While not all predictions are made equal, we seem to have a better idea of what we want than how to accomplish it. 

    The farther the horizon, the more guesswork is involved. Compared to the prior video on predictions from the mid-1900s, this video on the internet from 1995 seems downright prophetic. 

    via YouTube

    There's a lesson there. It's hard to predict the future, but that doesn't mean you can't skate to where the puck is moving. Even if the path ahead is unsure, it's relatively easy to pick your next step, and then the step in front of that. As long as you are moving in the right direction and keep taking steps without stopping, the result is inevitable.