He went on a Twitter tirade focused on the unfairness of COVID-19 lockdowns, on selling all of his personal possessions, and singing the Star-Spangled Banner.
The tweet that took the cake was "Tesla stock price is too high imo" (in my opinion).
Back to business ... remember that Musk has run afoul of the SEC for tweeting about Tesla shares in 2018, when he tweeted about potentially taking Tesla private. That is was recently settled. As part of that, Musk agreed to a pre-approval process for tweets that included public statements that could move Tesla's stock price.
The NFL draft happened this week, despite the Quarantine.
I was happy to distract myself from the economy and news cycles.
Football is something I used to love to play. And it is still something that informs my thoughts and actions.
Some lessons relate to being part of a team, while others relate to the coaching or management side of things.
Some of these lessons stem back to youth football ... but I still learn things watching games – and even more from watching Dallas Cowboys practices at The Star.
Think about it, even in middle school, the coaches have a game plan. There are team practices and individual drills. They have a depth chart, which lists the first, second, and third choice to fill certain roles. In short, they focus on the fundamentals in a way that most businesses don't.
The picture, below, is of my brother's high school team way back in 1989.
To re-state, most businesses are less prepared for their problems than an 8th-grade football team. Now, that sounds offensive to some of you, but if you think about it ... it's pretty true.
Losing to An 8th Grade Team
I shot this video right before the COVID-19 shutdown. I encourage you to watch it. I think it's 3 minutes well spent.
Teams think about how to improve each player, how to beat this week's problem, and then how to string together wins to achieve a higher goal.
Contrast that with many businesses. Entrepreneurs often get myopic ... they get focused on today, focused on survival, and they lose sight of the bigger picture and how all the pieces fit together.
The amount of thought that goes into football - which is ultimately a game - is a valuable lesson for business.
What about when you get to the highest level? If an 8th-grade football team is equivalent to a normal business, what about businesses that are killing it? That would be similar to an NFL team.
Let's look at the Cowboys.
Practice Makes Perfect
How you do one thing is how you do everything. So, they try to do everything right.
Each time I've watched a practice session I've come away impressed by the amount of preparation, effort, and skill displayed.
During practice, there's a scheduled agenda. The practice is broken into chunks, and each chunk has a designed purpose and a desired intensity. There's a rhythm, even to the breaks.
Every minute is scripted. There's a long-term plan to handle the season ... but, there was also a focus on the short-term details and their current opponent.
They alternate between individual and group drills. Moreover, the drills run fast ... but for shorter time periods than you'd guess. It is bang-bang-bang – never longer than a millennial's attention span. And they move from drill to drill – working not just on plays, but the skillsets as well (where are you looking, which foot do you plant, how do you best use your hands, etc.).
They use advanced technology (including advanced player monitoring, biometric tracking, and medical recovery devices ... but also things like robotic tackling dummies and virtual reality headsets).
They don't just film games, they film the practices ... and each individual drill. Coaches and players get a cut of the film on their tablets as soon as they leave. It is a process of constant feedback, constant improvement, or constant renewal. Everything has the potential to be a lesson.
Beyond The Snap
The focus is not just internal, on the team. They focus on the competition as well. Before a game, the coaches prepare a game plan and have the team watch tape of their opponent in order to understand the tendencies and mentally prepare for what's going to happen.
During the game, changes in personnel groups and schemes keep competitors on their toes and allow the team to identify coverages and predict plays. If the offense realizes a play has been predicted, they call an audible based on what they see in front of them. Coaches from different hierarchies work in tandem to respond faster to new problems.
After the game, the film is reviewed in detail. Each person gets a grade on each play, and the coaches make notes for each person about what they did well and what they could do better.
Think about it ... everyone knows what game they are playing ... and for the most part, everybody understands the rules, and how to keep score (and even where they are in the standings). Even the coaches get feedback based on performance, and they look to others for guidance.
Imagine how easy that would be to do in business. Imagine how much better things could be if you did those things.
As they reopen, it's important to think about a new normal. I'm excited about what we'll accomplish on the backside of this pandemic.
It challenged what we do and how we do it. In many ways, the thing that doesn't kill you makes you stronger.
With that said, I saw this video, and it struck a chord. It shows a famous orchestra playing the theme to 2001: A Space Odyssey updated for 2020's social distancing. You’ve got classical music played by classical musicians – together, but only via technology. This new form borrows from the past but creates something new. As a result, we experience a new dawn.
I encourage you to think about what the Quarantine made better for you, your family, your business, the country, or the world?
Sure, there are things that suck ... but there are things that surprised!
Think about the things that you did more of during this period. Are there new things that will make sense to continue as we move back to normal? Are there things that you did less of – and it somehow made things better (or made room for better things)?
How can you combine the best of the old with the best of the new to create something even better?
Things are going back to normal ... but you get to decide your new normal ... and it can be better than your past.
For most, being quarantined means significantly more screen-time.
Whether you're using it productively or unproductively, you're likely consuming much more media than before.
That can be a double-edged sword. It has the potential to increase your understanding of events – but also increases the likelihood of echo chambers and the intake of misinformation (aka fake news).
So, in this quarantine, what exactly are people looking at, and how are they staying informed?
VisualCapitalist put together various infographics on how different generations are consuming content.
Unsurprisingly, younger generations are playing games, and millennials are focusing on food (cooking recipes and staying healthy while quarantined). Meanwhile, the older generations are still sticking primarily to broadcast TV.
Regardless of where you're consuming, it's important to manage what you're consuming, and how much you're consuming. You need to make sure you're using reliable resources and managing your time and energy. Too much can leave you worse off.
It can be difficult to have a nuanced discussion around AI online. There's a lot of PopSci around it, people conflate a very diverse range of algorithms and intentions into the general "AI", and realistically when you get too in-depth into what algorithms are best for what problems, most people lose interest.
That's why I'm personally a proponent of any discussions around AI. Awareness is important, and if more people can understand the basics, then some subset of them will become better educated... rinse and repeat.
Robert Downey Jr. and YouTube partnered for an 8-part docuseries on the Age of AI. I've only watched one episode, but that episode did a decent job of addressing the highest-level issues with AI.
I won't go through the whole video with you - because you're quarantined and I think it's worth watching, but there are a couple of points I wanted to re-emphasize.
Your Data Is Becoming More Important, Not Less Important
"Everyone's concerned about identity theft. Meanwhile, they're giving all their data for free on the internet. I'm what I like. I'm what I don't like. I'm where I go, I'm who I know. I'm what I search. I'm my thumbprint. I am my data" - will.i.am
My son, Zach, has ultimately given up on privacy - his argument is that everyone's information is out there anyway. Even my eldest son, Ben, who is a cybersecurity expert, has semi-resigned himself to his data being out there. He takes many precautionary measures but recognizes that he's not truly anonymous.
In the video, Will.I.Am is getting an authentic reproduction of his face, mannerisms, and voice - they even got the pimple he had during the day of filming. In doing so, he specifically asks for the voice to be a bit robotic. He does this "for his mom" but in reality, it's to make clear - this is a robot, not me. It's avoiding the Uncanny Valley.
We're at an intersection where it's going to become harder to decide what's real and what's fake. With deepfake video and audio, protecting your personal brand and identity becomes difficult, and simultaneously more important.
The Path Forward
The road to AI supremacy is long and fraught with booby traps, potential missteps, and ethical issues. Questions like "how far is too far?" will have to be answered, and countries will likely strive to unite around shared rules of ethical AI.
If there's anything that makes me confident about our ability to successfully travel that road, it's looking at humanity's ability to adapt. The reality is, we've been working symbiotically with "machines" since the very beginning, but our definition of the machine simply continues to improve. It's fractal, and each time the technology we're adopting gets bigger, so does the eventual positive effect on day to day life.
AI adoption is a big step, but the positive effect it can have on our lives is astronomical.
For Christians, today is Easter Sunday - the holiday celebrating the Resurrection.
For Jews, it's still Passover - the holiday recounting the Exodus from Egypt.
The overlap can be seen in DaVinci's Last Supper, a Passover Seder, and last meal Jesus ate before his crucifixion.
For both, it's a holy and family-centric time. A reminder to appreciate what we have, and how we stand on the shoulders of our ancestors.
One of the memorable phrases from Exodus is when Moses says "Let my people go!" For generations, people assumed he was talking to the Pharoh about his people's freedom. After a week of eating clogging matzoh, matzoh balls, and even fried matzoh ... for many Jews "Let my people go" takes on a different meaning.
For Jews, a notable part of the ritual Seder dinner is naming each of the 10 plagues that rained over Egypt and saying "never again".
Perhaps, this year, COVID-19 gets added the list?
Yet, just like the Jews making it through slavery, the plagues, and 40 years wandering through the wilderness and desert before entering the Promised Land ... we too will make it through this.
With that said, some of what happened is good. Mine your experience for the things you want to keep doing (or continue not doing) once things go back to "normal". In addition, some of those close to me continue to remind me that being sheltered-in-place is a great excuse to do both a physical and mental spring cleaning.
I wrote this back in 2008. With minor updates, it seems relevant again.
Some dogs run fast; other dogs do tricks … my 100-pound lab, Duke's best talent was his ability to remain immobile in almost any situation (some call it "laziness" … I prefer "calm" or being "even-tempered").
At the other end of the spectrum are our two small dogs, Boo and Jasper. Boo, our 20-pound mix between a Beagle and a Boston terrier. Let's just say that he has a higher metabolism than Duke.
When Boo hears a noise, he lets out an involuntary, barely audible, sound. His body becomes rigid and his head cocks. He becomes alert and carefully tunes his ears to their most sensitive setting, seeking any information that will help identify the "danger." He's now primed for the next intrusion.
Usually, there are no other disturbances to follow, and the noise is cataloged and soon forgotten. His alertness level slowly subsides over the next 10-15 minutes or so. He'll go back to napping, a little more fitfully this time … and just a little bit on edge.
Things get a little more interesting when another noise surfaces shortly after the first one. What could once be dismissed now must be treated as a threat – and just to be safe, a threat of the highest order. Now the appropriate response is a series of barks, nervous glances, pacing, rushing off in the direction of the noise to investigate, and a barrage of barks meant to sound more menacing than the source of the noise. Who or what is it? How much harm can they cause? How grave is the threat?
Jasper, our high-anxiety mutt, is never off alert. He doesn't know what's a threat, and what's not, so he's always creating threats out of nothing and riling up our other dogs.
Duke is a different story. Nothing upsets Duke more than Boo or Jasper getting on high alert. The same noise that prompted Jasper and Boo to become alert does nothing to Duke. However, the first time that they make noise, Duke becomes alert. The second time they make noise, Duke starts vocalizing; and the third time, all 4 of our dogs start yapping. Once they start yapping, then the neighbor's dogs start yapping, and suddenly our neighborhood is a cacophony of dog barks.
The same thing happens in the market with people.
In the market, it is the second noise - and subsequent noises - that creates the equivalent of the Homeland Security "Red Alert." Once an elevated level of alertness has been established, it takes a long period of relative calm for it to subside. And when on "Red Alert" … any additional noises (for example, the responses of the other market participants) - big or small - will highlight, magnify, and further validate the issue.
But, like in the story "The Boy Who Cried Wolf," even legitimate threats are ignored after too many false alarms (or prolonged periods of constant alert). So, bad news about the economy isn't as likely to get people excited after the past few weeks.
As people (or bots) become "used" to today's new normal, It'll be interesting to see what sprouts up. The longer away from the initial episode, the more real the effect can be attributed.
The unfortunate reality is that the Boo and Jasper style "overreaction" to a crisis can exacerbate the long-term effects of the crisis. To balance that, on the macro level, a stronger pandemic response has been shown to increase economic recovery.
This has been the theme from the beginning. Don't personally panic, but respond aggressively on the city, state, and national level.
Here Are Some Links For Your Weekly Reading - May 3rd, 2020
Here are some of the posts that caught my eye recently. Hope you find something interesting.
Lighter Links:
Trading Links:
Posted at 04:09 PM in Books, Business, Current Affairs, Film, Games, Healthy Lifestyle, Ideas, Just for Fun, Market Commentary, Personal Development, Science, Sports, Trading, Trading Tools, Web/Tech | Permalink | Comments (0)
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