I recently did two interviews I want to share with you. The first was done with Dan Sullivan and Steven Krein for Strategic Coach's Free Zone Frontier podcast... and the second was with Brett Kaufman on his Gravity podcast.
Please listen to them. They were quite different, but both were well done and interesting.
Free Zone Frontier with Dan Sullivan and Steve Krein
Free Zone Frontier is a Strategic Coach group (and podcast) about creating "Free Zones." It refers to the green space where entrepreneurs can collaborate and create without competition.
It's a transformative idea for entrepreneurial growth.
In my episode, we focused on topics like building your own future, how decision-making frameworks and technology can extend your edge, and what it takes to get to the next level. I realize there is a lot of Strategic Coach jargon in this episode, but it is still easy to understand, and there was great energy and an elevated conversation about worthy topics.
As an aside, Steve Krein happens to be my cousin, and we joined Strategic Coach entirely separately before realizing we had joined the same group.
Normally, I talk about business, mental models, and the future of AI and technology, but Brett Kaufman brought something different out of me.
Brett's Gravity Project is about living with intention, community, consciousness, and connection. He focuses on getting people to share their life experiences ... with the intent that others can see themselves in your story.
In my talk with Brett, we do talk about the entrepreneurial journey ... but we also probe some deep insights by discussing the death of my younger brother, how my life changed almost immediately upon meeting my wife, and why love is the most powerful and base energy in the universe.
This was not a typical conversation for me (a different ratio of head-to-heart), but it was a good one (and I've had a lot of people reach out because of this podcast).
Over the years, I've used a number of different assessment tests on myself and our team. It's a great way to help people better understand each other and the different forms of communication and problem-solving styles we use.
Here are several of the tests that have proven themselves time and again:
Kolbe: measures a person's instinctive method of problem-solving, and identifies the ways they will be most productive.
Predictive Index (PI) - helps you understand the way their traits manifest in relation to their true nature and their perceived role.
StrengthsFinder: helps people uncover their talents, so they can do more of those things each day.
On top of my normal tests, as a team of data scientists, it's always fun to see what's available.
For example, Ray Dalio recently created a personality assessment called PrinciplesYou that you can take for free. I've seen a number of articles claiming that the assessment is not only accurate, but that it also has impressive insights.
Less meaningful, but still fun, I also found a website that lets you test your performance on various reaction and memory tests. Unsure how scientific it is, but it was an interesting use of 10 minutes nonetheless.
Small distinctions separate wise men from fools. Perhaps one of them has to do with what the wise man deems important.
Socrates' Triple Filter
In ancient Greece, Socrates was reputed to hold knowledge in high esteem. One day an acquaintance met the great philosopher and said, "Do you know what I just heard about your friend?"
"Hold on a minute," Socrates replied. "Before telling me anything, I'd like you to pass a little test. It's called the Triple Filter Test."
"Triple filter?"
"That's right," Socrates continued. "Before you talk to me about my friend, it might be a good idea to take a moment and filter what you're going to say. That's why I call it the triple filter test.
The first filter is Truth. Have you made absolutely sure that what you are about to tell me is true?"
"No," the man said, "Actually I just heard about it and…"
"All right," said Socrates. "So you don't really know if it's true or not. Now let's try the second filter, the filter of Goodness. Is what you are about to tell me about my friend something good?"
"No, on the contrary…"
"So," Socrates continued, "You want to tell me something bad about him, but you're not certain it's true. You may still pass the test though, because there's one filter left. The third filter is Usefulness. Is what you want to tell me about my friend going to be useful to me?"
"No, not really."
"Well," concluded Socrates, "If what you want to tell me is neither true, nor good, nor even useful … then why tell it to me at all?"
With all the divisiveness in both media and in our everyday conversations with friends, family, and strangers ... this is a good filter for what you say, what you post, and even how you view markets.
How Does That Apply to Me or Trading?
The concept of Socrates' Triple Filter applies to markets as well.
When I was a technical trader, rather than looking at fundamental data and scouring the news daily, I focused on developing dynamic and adaptive systems and processes to look at the universe of trading algorithms to identify which were in-phase and likely to perform well in the current market environment.
As we've transitioned to using advanced mathematics and AI to understand markets it becomes even more true.
Filter Out What Isn't Good For You.
In contrast, there are too many ways that the media (meaning the techniques, graphics, music, etc.), the people reporting it, and even the news itself, appeals to the fear and greed of human nature.
Likewise, I don't watch TV news anymore either. It seems like story after story is about terrible things. For example, during a recent visit with my mother, I listened to her watch the news. There was a constant stream of "oh no," or "oh my," and "that's terrible". You don't even have to watch the news to know what it says.
It's also true with what you feed your algorithms. Garbage in, garbage out. Just because you can plug in more data, doesn't mean that data is adding value. Deciding what not to do, and what not to listen to is equally as important as deciding what to do.
Artificial intelligence is exciting, but artificial stupidity is terrifying.
What's The Purpose of News for You?
My purpose changes what I'm looking for and the amount of attention I pay to different types of information. Am I reading or watching the news for entertainment, to learn something new, or to find something relevant and actionable?
One of my favorite activities every week is looking for new insights and interesting articles to share with you and my team. If you aren't getting my weekly reading list on Fridays - you're missing out. You can sign up here.
Getting back to Socrates' three filters and the business of trading, I often ask myself: is it important, does it affect our edge, or can I use it as a catalyst for innovation?
There's a lot of noise out there competing for your attention. Stay focused.
The six largest religions in the world are Christianity, Islam, Judaism, Hinduism, Buddhism and Sikhism.
We often think about the differences between religions. However, the many similarities are obvious if you look (and may be indications of a more integral "truth".
Below is a wordcloud for each of those religions based on their major religious text.
If you find the name "Keith" it's because it was the translator's name, and the word "car" in the Hinduism wordcloud is an old-fashioned word for "chariot".
It's also worth acknowledging that this wordcloud is from the English translations so some words that may mean slightly different things in other languages can be all translated to one word in English. For example, it's very common in Biblical Hebrew to see different words translated into the same English word. A good example is Khata, Avon, and Pesha--three different ways of committing a wrong, that may all be translated the same.
Getting old is tough ... and it gets tougher the older you get. As a result, finding your 'reasons for being' and joy in life become increasingly important as well.
2020 was a year of massive upheaval for many. Stress, change, pandemics, quarantine, new jobs, new goals ... or at the other end of the spectrum, lack of change, lack of a job, or lack of purpose.
Regardless of the reason, many people struggle to get up in the morning. This is a shame because life is so much better than the alternative (and life becomes even better when you learn to enjoy living and let go of what isn't serving you).
There's a Japanese concept called Ikigai that may help.
Ikigai centers around finding purpose as you grow older. Paradoxically, it makes sense to start the process as early as possible.
Here is an infographic that lays out some "Reasons for Being."
Finding your "reason to be" and living with purpose are keys to making the most of your time.
The beauty of 2021 being a fresh start is that you can also change your approach and your vision.
The graphic highlights something interesting (yet almost counter-intuitive) ... When two areas intersect, it creates something positive (e.g., a passion or a mission). However, where three areas intersect, it creates a pain point (for example it could be what you're good at, you love doing it, the world needs it ... but it doesn't make you any money – so now you're struggling).
Worth examining and thinking about for a bit.
On a related note, here is a TEDx talk about the 9 common diet and lifestyle habits that help people live past 100.
Last night was the first night of Passover, a family-centric holiday that recounts the biblical story of the Exodus of the ancient Israelites from Egypt into the Promised Land. For me, it's a reminder to appreciate what we have – and how we stand on the shoulders of those who came before us.
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. For modern Jews, 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.
A friend asked me what part of the matzoh do the balls come from? I don't know ... but I hope the matzoh ball fairy brought you some good ones.
Apparently (according to my youngest son), Sea Shanties are en vogue with today's youth. So, here's a pirate Passover song.
For Jews, a notable part of the ritual dinner is naming each of the 10 plagues that rained over Egypt and saying "never again".
Perhaps, this year, COVID-19 gets added to the list?
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 are approaching the post-COVID promised land after a year of being stuck inside.
With the coming of spring, the re-opening of the world, and the reminders from the stories of Exodus and Easter - it's a great time to do a mental and physical "spring cleaning". Mine your experiences for the things you want to keep doing (or continue not doing) as things go back to "normal".
Sometimes I write posts about business ideas I've found to be particularly helpful. Today, I am writing about a concept that I would call "foundational," called the Gap and the Gain (which was created by Dan Sullivan of Strategic Coach). The base concept is simple – nonetheless, understanding and applying it can have transformative effects. The central concept is that you can be successful and happy or successful and unhappy ... and the difference between the two is likely how you choose to measure your results.
Are you focused on the gap (all the things you still don't have) or the gain (all the things you already have)?
As an entrepreneur whose business is based on innovation, one of my unique abilities is being able to think about what's possible ... and then find the golden thread from where we are to where we want to be. It's why I believe one of the "secrets to success" is to become comfortable being uncomfortable. Why? Because almost anything you want is beyond your current capabilities (otherwise, you'd already have them). Being able to transform the goal into a directional compass leading you in the right direction is easy for me, and gives me energy.
But, that unique ability comes with a pretty obvious drawback ... I'm never where I want to be (because I'm constantly looking at the horizon, and as I move towards it, the horizon continues moving). This is the curse of many entrepreneurs. They live and die without a fulfilling sense of accomplishment because they're always focused on the next mountain. The progress that they've made getting to here, and the confidence they built getting to here, raise the bar of what's possible. Instead of focusing on the progress and wins that got them where they are, they monomaniacally focus on the gap between the current reality and their new shiny goal.
The distance between where you currently are and where you want to go should be motivating. In fact, I'd argue that the ability to stretch your vision further is a skill you should reward rather than punish. It is simply a matter of perspective. Measure from where you started, but don't lose sight of the bigger future. One pushes you from behind, and the other pulls you forward.
That's the gap and the gain, and it's a great lesson that is useful in businesses and life in general. Ultimately, you're in control. You get to decide what you focus on, what it means, and what you choose to do.
Personally, probably the most important way this lesson has impacted me was in making more of the time left with my dad while he was dying.
That video is about a year that brought my Dad's death, the forced sale of my company by venture capitalists, and a divorce (in that order). In many respects, it was a horrible year ... a year where it would have been easy to focus on the gap rather than the gain.
Luckily, sometimes, life's darkest days bring the greatest gifts … if you are willing to look for them.
One of my biggest takeaways from that struggle was about the time value of life.
In finance, the "time value of money" refers to the principle that money's purchasing power varies over time (meaning, money today has more purchasing power than money later). In part, this is because the value of money at a future point in time might be calculated by accounting for other variables (like interest earned, or inflation accrued, etc.).
It occurred to me that a similar calculation applied to life ... or living.
During the last part of my dad's life, it was easy to focus on what we were lacking ... time ... we would have done almost anything for a little more time.
In his last year, things that used to be unimportant, or even mildly irritating, took on increased importance. For example, a dinner together became almost a sacred event; a kiss goodnight was truly heartfelt, and saying goodbye meant something ... because it could be the last time.
Because of that focus, he took more "life" out of that time. Necessity is often the mother of invention. While I wouldn't have chosen the situation, it changed his mindset (frankly, it changed our mindset), and as a result, we increased the amount of life we squeezed out of that little bit of time.
Obviously, the choice to make more of life shouldn't wait for the death of a loved one or a similar crisis.
We can choose to focus on what we want and what we gained to make the most life out of whatever time we're given.
I spent a lot of that year moving away from pain when I could have been moving toward opportunity. I'm grateful I learned that lesson before he passed.
To close, I want to leave you with a lesson from my dad that really stuck with me.
The difference between good and great is infinitesimal. People who are good take advantage of opportunities ... but people who are great create them. ~ Jacob Getson
It's a conscious choice we can all make.
Hope that helps.
If you want to learn more about the specifics of the "Gap and the Gain," Ben Hardy wrote a great article on the subject.
Here Are Some Links For Your Weekly Reading - May 23rd, 2021
Here are some of the posts that caught my eye recently. Hope you find something interesting.
Lighter Links:
Trading Links:
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