Human's can't do a lot of things. Honestly, the fact that we're top of the food-chain is pretty miraculous.
We're slow, we're weak, and we're famously bad at understanding large numbers and exponential growth.
Our brains are hardwired to think locally and linearly.
It's a monumental task for us to fathom exponential growth … let alone its implications.
Think how many companies have failed due to that inability … Radioshack couldn't understand a future where shopping was done online and Kodak didn't think digital cameras would replace good ol' film. Blockbuster couldn't foresee a future where people would want movies in their mailboxes, because "part of the joy is seeing all your options!" They didn't even make it long enough to see "Netflix and Chill" become a thing.
Innovation is a reminder that you can't be medium-obsessed. Kodak's goal was to preserve memories. It wasn't to sell film. Blockbuster's goal wasn't to get people in their stores, it was to get movies in homes.
Henry Ford famously said: “If I had asked people what they wanted, they would have said faster horses.” Steve Jobs was famous for spending all his time with customers, but never asking them what they wanted.
Two of our greatest innovators realized something that many never do. Being conscientious of your consumers doesn't necessarily mean listening to them. It means thinking about and anticipating their wants and future needs.
Tech and A.I. are creating tectonic forces throughout industry and the world. It is time to embrace and leverage what that makes possible. History has many prior examples of Creative Destruction (and what gets left in the dust).
As a side note, I was a little surprised to see the "Internet" on the list as source itself. Darwin would be somewhat comforted to see that people don't trust everything they see on the internet.
The following chart is a bit outdated (it's from 2014), but it's a good study with diverse leanings. It presents the trust levels of various news sources by ideological group.
Which of your news sources do you follow? Were they as trusted as you expected?
Another question worth asking yourself is "Am I getting an idea of what the other side is thinking?" In trading, I always want to understand what the other side sees.
Finally, let me know if there are resources you think I should look at.
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.
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.
As a fund manager, I am always looking for ways to eliminate emotions (like fear and greed).
But as a father whose son just got married, the equation was different.
One of my son's instructions to the "officiant" was to make me cry. I made it through the Ceremony; then, I got a chance to say a few words at the Wedding Reception. Here they are …
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