For Father's Day, my youngest son took me to see Top Gun 2 in DFX. It's been a while since I've been in a movie theatre, and this was a movie worth doing the right way. It lived up to the hype.
He also took me to brunch and invited his girlfriend - a rare occasion that I hope becomes more common.
It's been ten years since he started working with me at Capitalogix. Here's his first professional pic and his most recent. Time flies while you are getting older!
As a father, having great kids is a double blessing. On one hand, it's nice to be proud of who your kids are and the things they do. On the other hand, it's also nice to feel proud of the small part you played in helping them become who they are. It's also my first Father's Day as a grandfather. After decades of messing with my kids, now I get to mess with a new generation!
Of course, I also look back ... and spent some time thinking about my father and his terrific influence on so many lives.
My Dad was incredibly loving. Yet, he was also incredibly demanding.
For example, after winning the State Championship in the shot put, I watched him run down from the stands. I figured he was coming down to celebrate. Instead, he looked deeply into my eyes and asked whether I was disappointed that I did not throw a personal best that day? I replied: "But Dad, I won." He smiled and recognized that winning was important too ... then he reminded me that the other throwers were not the real competition. In life, to be and do your best, the competition is really with yourself; and we both knew I could do better.
My Dad believed in setting high standards. He explained that most people's lives are defined by their minimum standards. Why? Because once those standards get met, it is easy to get distracted by other things and meeting the minimum standards for them as well.
Here is something else worth sharing; it was one of his favorite sayings. "The difference between good and great is infinitesimal." This applies to many things. For example, people who are good take advantage of opportunities; people who are great create them. The point is to set a higher standard and to have a better life.
Well, that should explain a little of the dysfunction ... but, if you can't mess up your own kids, whose kids can you mess up?
Hopefully, you had a happy Father's Day weekend.
Billion ... With A B
Humans are notoriously bad at large numbers. It's hard to wrap our minds around something of that scale. We're wired to think locally and linearly, not exponentially (it's one of the reasons I love AI so much).
Here are a couple of ways to help you understand a billion dollars.
via AskOpinion
Next, let's look at spending over time. If you were to spend a dollar every second for an entire day, you would spend $86,400 per day. You can do that for approximately twelve days if you have a million dollars. With a billion dollars, you can do that for over 31 years. Ignoring the difference between net worth and cash, Jeff Bezos could spend $9M per day for over 31 years.
If you make $100K a year, you can earn $1 million in 10 years. At the same rate, it would take you 10,000 years to make $1 billion.
Here is an example framed around spending money. Imagine that someone making $50K a year decides to buy a laptop, a car, and a house. Now we're going to make a relative comparison of the cost of those items for people making a lot more than $50K per year. To do this, we'll shrink the cost of the price of those items (to see the relative cost-to-income ratio). For a millionaire, a laptop might cost the equivalent of $100 dollars, a Porsche would cost $3,000 dollars, and a house would cost $25,000. Now, let's say you're Mike Bloomberg, and you're worth $60B. A laptop's relative cost would be pennies, a Porsche's relative cost would be less than 60 cents, and a mansion's relative cost would be around $500 dollars. You could have everything you ever wanted for a minute fraction of your wealth.
For a different perspective, here's an interesting visualization from informationisbeautiful. It shows various examples of things worth billions of dollars – including the personal wealth of several billionaires.
Okay, last one before I show a video ...
Let's try explaining the concept of a Billion through time. Fifty thousand seconds is just under 14 hours. A million seconds was 11 days ago. A billion seconds ago from today? 1990. Pretty crazy.
Here's a video from the 1970s that helps you understand scale through the power of tens – and an exploration of our universe.
Hope you enjoyed this. Let me know what you think.
Posted at 12:08 PM in Business, Current Affairs, Ideas, Just for Fun, Market Commentary | Permalink | Comments (0)
Reblog (0)