There’s immense power in asking the right questions.
Asking the right questions is often more advantageous than having the answer to the question asked.
Asking the right questions is crucial as it facilitates the discovery of appropriate answers, demonstrates progress, and creates meaningful momentum, regardless of the actual answers obtained.
I shot this short video on the power of asking the right questions. Check it out.
Asking the right questions demonstrates the power of framing, as it allows for a different interpretation and digestion of information. Even reframing the same question can have a significant impact. For example, “How do I compete with ChatGPT or other AIs?” vs. “How can I leverage AI to automate tasks I don’t want to do?”
In my experience, when asking someone what they want, often their response revolves around what they don’t want. However, reframing the obstacle as the path forward makes it easier to uncover the “hidden” opportunity.
You have control over the meaning you assign to things and the emotions they evoke in you. These distinctions are what separate feeling “sad” vs. “happy” – or “feeling like a victim” vs. “feeling in control of your destiny”. The power to control your perception determines whether life happens “to you” or “for you”.
When faced with a problem, a mindset of “it can’t be done” can be limiting. For better results, reframe that "problem" as a "challenge" that can be done – just not in the way it’s currently being approached.
The most important advances in society were impossible until they weren’t. For example, imagine telling someone in the Middle Ages that you could communicate with people around the globe (in real-time) while simultaneously seeing their faces and sharing documents. They’d try you as a witch faster than you could say, “Zoom!”
In the technology industry, the term “Moonshot” refers to a bold and groundbreaking project that was once considered impossible (like landing on the moon).
Success is often a function of using Moonshots to set direction, asking the right questions, being willing to see things differently, and finding a way to move in the right direction while gaining capabilities and confidence. As long as you are doing those things, the trick is to keep going until you get there. The result is inevitable if you do those things and don’t give up.
Last week I started getting “Happy Work Anniversary!” messages on LinkedIn ... and I was a bit confused because people kept mentioning 23 years.
Twenty-three years ... That can’t be right? Can it?
For context, here’s what I looked like around that time.
My eldest son (who’s now married with a baby) was in middle school. I was just out of the events I described in my TEDx talk.
However, depending on your definition, the 23rd anniversary can be true or false. Legally, the Capitalogix that exists today is distinct from the initial iteration. Additionally, the company has expanded, its direction has shifted, and what was once a one-person operation has grown into a team of over 20 individuals focused on advancing and commercializing the field of Artificial Intelligence.
It reminds me of the Ship of Theseus (also known as Theseus’ Paradox), which is a philosophical thought experiment that poses the question of whether an object that has had all of its parts replaced is still considered to be the same object. It raises issues of identity, continuity, and change over time. The concept can be applied to physical objects, living organisms, and even organizations or businesses. It challenges our understanding of what it means for something to be fundamentally the same, and if an object can remain unchanged despite undergoing significant changes over time.
The name “Capitalogix” did originate in the year 2000 ... and a surprising amount of the original North Star “purpose” still exists. Honestly, I’m surprised by how much holds up despite 20+ years of passing ... but almost all of it has needed some course correction to adjust to changing tides.
Regardless, it’s staggering to think about how long I’ve worked in A.I. (since 1991, when it was hard to spell A.I.) and how far we’ve come.
If I had known how difficult it was at the beginning, I probably never would have pursued it. However, knowing how difficult it is, and how challenging it is to make meaningful progress, I feel better that I did because I realize that it’s not just a competitive advantage, it’s a sustainable competitive advantage. It’s easy for people to focus on a capability, it’s another to make it industrial-grade, robust, reliable, and able to work in difficult conditions. They say that things that don’t kill you make you stronger, it’s true for people, but it’s also true for technologies.
As we celebrate Chinese New Year, it also feels like a new beginning for Capitalogix as we chase after new possibilities and probabilities.
We didn’t come this far — just to come this far! Onwards!
On New Year's it is a lot easier to celebrate when you have a party to go to ... The trick is finding the celebration in the first place.
It's interesting to think about how many New Year celebrations there are. In addition to Chinese New Year, Muslims have Hari Raya Idul Fitri; Jews have Rosh Hashanah; of course, there is January 1st (and many others).
Which is correct? I think the answer is all of them. Regardless of your chosen New Year, it provides an opportunity to celebrate, share, reflect, plan, and commit to the right actions. If you've already fallen off the wagon of your new year's resolutions, this can be your reason to get back on them.
As I think about it, the same principle applies to trading. It's all a matter of perspective.
At some level, there really isn't a correct answer as to which trading style is best. The best technique is the one that works. Trading styles go in and out of phase, and if you get too attached to a particular technique, you can too easily get detached from profit. As any experienced trader can tell you, edges decay, people catch on, and trends change.
As businesses increasingly adopt Artificial Intelligence, the way forward is becoming evident. This involves utilizing AI to selectively activate and deactivate specific capabilities based on their effectiveness.
In trading or business, while no single method is guaranteed to succeed, there is always a method that can be effective. You just have to be flexible enough to know what you want and still be willing to accept something better.
Last week, I talked about the time value of time - and the benefit of quality peer groups.
On Friday, one of those peer groups spent hours talking about the promise and peril of generative AI. While some people remained skeptical or in fear of what tools like ChatGPT made possible.
One of the members shared an AI tool directory that I thought was worth sharing as well. It's called Futurepedia.io
My contribution to the discussion was brief, but it amounts to this ... Nothing you're hearing about AI should scare you. It should scream opportunity. You don't have to rush. AI is at the beginning of a long upwards sloping cycle of impact and capability. However, AI isn't duct tape, and for most, it's not a business ... it's a tool to help you create a bigger future that wasn't possible before. Much like "internet" companies came and went in the late 1990s ... yet almost every company uses the internet in ways that were unimaginable at the beginning of the cycle.
People often get stuck searching for 'something' (often a singular goal or result). But, in their myopia, they miss the possibility of 'or something better.'
In my business, I'm rarely happy to settle for less than I'm aiming for ... but I am willing to happily take the 'or something better'. Nonetheless, it is hard to see (let alone be open to) other targets or possibilities when you myopically focus on achieving the lesser (but specific) goal or target you initially chose to focus upon.
So, here is a thought to ponder ...
What is opportunity, and when does it knock? It never knocks. You can wait a whole lifetime, listening, hoping, and you will hear no knocking. None at all. You are opportunity, and you must knock on the door leading to your destiny. You prepare yourself to recognize opportunity, to pursue and seize opportunity as you develop the strength of your personality, and build a self-image with which you are able to live -- with your self-respect alive and growing. ~ Maxwell Maltz
Imagine what you believe this tipping point indicates is possible personally and professionally.
I have always believed that you can predict a lot about your future based on the quality of the people you spend the present with.
That is why I think participation in quality peer groups is critical.
Over the years, I joined several business-leader peer groups like Strategic Coach, Abundance 360, and Genius Network. These groups are a great way to meet people and learn things ... and they also provide you with access to the benefits of feedback from a group of trusted advisors, perspectives you might otherwise get from a counselor, and a flow of ideas and opportunities that wouldn't have crossed your mind or your desk. They allow participants to see, hear, and discuss things they don't usually think about, talk about, or even notice.
Peer groups are also great at bringing blind spots to your attention and connecting you to trends transforming industries and the world.
In these meetings, you often find a "nugget" in the discussion. Sometimes it stems from what is happening in the world. Sometimes it alerts you to potentially valuable relationships, opportunities, or gadgets. And sometimes, the nugget comes from discussing a common problem or constraint (like the pandemic) with your peers.
This week, several of these groups prompted me to think about time (e.g., not wanting to sell time for money, wanting to live past 100, the "strangeness" of time during the past year, etc.).
Time is funny. Sometimes it seems to fly by ... other times, it seems to stand still. Dan Sullivan uses the example of 10 minutes with a dying loved one compared to holding your hand on a stove for 10 minutes. One seems excruciatingly short, and the other seems excruciatingly long.
The average life expectancy for men in the U.S. is 76.
How many amazing vacations do you have left? How many jaw-dropping moments? How many fantastic meals? How many Super Bowls?
What about time with your parents or older relatives? It's easy to forget to call or miss an important event because "life happens" – but if you realize you may have already used 95% of your in-person time with that person ... doesn't it become more special?
For contrast:
Would you rather spend that time dwelling on a mistake?
What about being angry at something out of your control?
What about doing work that drains you mentally and emotionally?
In my TEDx talk, I mentioned "living like you only have a year left" and how much more "life" we got out of the last part of my dad's life.
That is just an example, but clearly, it is worth taking the concept further.
To start, think of some of the activities you do, places you go, experiences you have that are special and make you feel like your best self.
Hitting Flow-state and creating something new and exciting;
Taking an amazing vacation and experiencing something completely new;
Having a moment with someone you love that makes you stop and say - "Wow!"
Making a difference in someone's day or giving back to your community;
Experiencing peace and relaxation;
Feeling pure joy.
It's easy to get lost and take these moments for granted when they happen, but when you think about how much time you have left ... they take a whole new meaning.
How can you maximize the time you have left? Fill it with the best experiences, activities, and people you can.
To start, think about different time frames:
What activities could you commit to doing at least once a year?
What activities could you commit to doing at least once a month?
What activities could you commit to doing at least once a week?
What activities could you commit to doing at least once a day?
Make those lists ... it is a simple way to get a better return on the time value of your life.
Seriously, try it.
Let me know how it worked for you – and what you chose!
It is officially 2023 ... new year – and a new set of opportunities.
But that's only based on the Gregorian calendar. Those of you that have followed me for a while know I often go to Asia for Chinese New Year (Gong Xi Fa Cai!) ... but that's also only one of many New Years.
While the following chart is a day late (and thus, a year out-of-date from a Gregorian perspective), it is a handy little guide for knowing what year it is. Check it out.
Like most things, time is relative. It can seem to go fast, it can seem to go slow ... sometimes it seems like it stands still. It's a matter of perspective. As we just saw, so is the calculation of what year it is. But, so too is the perspective of what you pay attention to, what you make it mean, and what you choose to do. There's no absolute "right" – only a seemingly endless stream of choices and opportunities.
I hope you had a productive and happy 2022 – and an even better 2023.
Last week, I shared an article about creating your annual plan (and how Capitalogix does it). This week, I want to talk more high-level about how we create a bigger future for ourselves, and next week I’ll talk about how I translate that bigger future into resolutions and actions.
The beginning of a new year is an excellent time for a fresh start. While it’s always the right time to take the right action, the structure of a year-end is a helpful crutch and force function.
We look forward to what we will achieve – even though history says we rarely achieve everything we hope for. Meanwhile, paradoxically, it is also true that we rarely achieve things we don’t hope for. So, Hope! It may not be a reliable strategy ... but it beats the alternative.
I’m excited about 2023. Despite the abnormal market, the crazy headlines, and the still volatile political climate, we’re moving toward increased stability.
Even though I expect some volatility, we have become more accustomed to handling it (and we’ve become better at transforming its strategic byproducts into strategic benefits).
On a different topic, think about how much progress we’ve made and how different the “new normal” has become. For example, think about Zoom and remote work or how quickly our economy migrated online. On many levels, what we are doing now seemed like science fiction, even just a few years ago.
We are living in an age of exponential technologies and exponential possibilities.
I commissioned this image from GapingVoid, to remind our team to keep shooting higher.
Resilience, resourcefulness, and a worthy goal are the foundational keys to many entrepreneurial success stories.
In the spirit of New Year’s Resolutions – I’ll add that a deliberate approach to goals is important too.
I’m a big fan of picking a Big Hairy Audacious Goal (sometimes called a “BHAG”) and taking actions that move you in that direction.
I’m also a big fan of Strategic Coach’sBigger Future exercise. It is a 25-year planning exercise where you lay out your commitments and goals to yourself, your family, your career, and your legacy. One of the keys to this is chunking high enough to name the roles, goals, and strategies you select with timeless language (meaning that the target words hold up even as you pivot and adjust your focus and actions).
While doing this, I realized that my ideal next chunk of years involves taking Capitalogix to the next level (and beyond) through collaboration, cooperation, and joint ventures.
Once you know your long-term goal, it is relatively easy to plan the steps you need to achieve it. Achieving smaller goals reinforces successes, builds momentum, and makes continued progress feel more likely.
Extra points if you make them SMARTs (Specific, Measurable, Attainable, Realistic, and Time-Bound).
Actions speak louder than words, and your words can distract you.
If your goal is to win first place at a competition, focus on the metrics of a first-place finish instead of the medal. This makes the goal concrete and sets an internal locus of control for your victory. This also means you don’t need to tell others about your goal too soon. Studies show that when you announce your intention to achieve a goal in public, you decrease the likelihood of succeeding.
It’s okay to misstep, and it’s okay to get stuck - but recognize where you are and what you’ve done ... and move forward.
Delayed gratification happens when you want something badly, but are not able to get it right away. The result is often anger or frustration.
Meanwhile, the mainstream media broadcasts a seemingly non-stop stream of messages screaming for immediate attention and gratification. The result of that is not good either (for example, it can result in higher rates of obesity, drug abuse, and depression).
Don’t be fooled. Overnight successes are rarely actually overnight successes (for long).
It’s also important (once you’ve accomplished your goal) to set new goals.
Over the next 25 years, there are many people I want to impact – and many goals I want to accomplish.
It hasn’t always been easy - but building Capitalogix has been an intensely rewarding passion. It has been easier because I want what I want. Make sure you know what you really want ... it makes getting it much easier.
I look forward to you all being a part of it as well. Here’s to a successful 2023 and an even more successful 2048.
It is that time of year, again. We are in the midst of our annual planning for 2023.
The process is relatively straightforward. We start by deciding what the company's three highest priority goals are. With those goals as the base, each department (and manager) creates a big three that represents what they can do to reach the company's big three. From there we dive into quarterly rocks, SMARTs (goals that are specific, measurable, actionable, relevant, and timed), as well as the explicit tactical steps it will take to accomplish what we set out to achieve.
The meetings are going well. There is a lot of back-and-forth idea sharing, negotiating, and priority setting.
Nonetheless, I had a sneaking suspicion that sometimes what seemed like a dialogue, was really multiple monologues.
The reason for the disconnect (or misconnect) was that the participants had fundamental beliefs, at a higher level than we were discussing, that were at odds with each other.
I shot two videos that I think help teams get to alignment.
Thinking About Your Thinking
The first discusses several techniques to enhance your decision-making.
One of the ideas is something called "Think, Feel, Know." Basically, it explains that you have to deal with superficial thoughts before getting to deeper feelings. Then, you have to deal with those feelings before you get to "knowing".
Another technique discussed in the video involves adding time to look for "insights" after working on something. Those insights are often the seeds for something greater.
Chunking Higher
The second is on how to chunk high enough that you can start from a place of agreement. Exploring distinctions from there is relatively easy.
I'll add one more concept for good measure ... Start with the end in mind. Alignment happens in stages. Before you can truly get alignment on what to do next, you have to get agreement and alignment about where you are and where you want to go.
With that said, another important component of meaningful communication is a shared understanding of a common language. Words can mean different things to different people. Simply agreeing on a "word" is different than agreeing on a common meaning.
This year, we continued our tradition of going to the Cowboys game – then having a big dinner together afterward.
I got to spend time with both my sons and my first grandchild (who didn’t seem to want her picture taken while there was so many other things to investigate).
Thanksgiving is a reminder to be grateful for the blessings in your life - big and small. But it's also a time to be thankful for the challenges in your life - and the opportunities for growth.
Often, when I think about what I want, the first thing I think of is what I don't want. Similarly, when I think about what's going well (or something worthy of being thankful for), I first think about what has been difficult or isn't above minimum standards yet. Some things change quickly. Apparently, human nature isn't one of them.
Challenges are often hidden gold mines. Instead of thinking about them being obstacles for you, recognize that getting past them creates an obstacle for competitors. In other words, figuring out a strategy to achieve these lofty goals creates a new status quo and a sustainable competitive advantage.
At Capitalogix, we often talk about "finding a way," "creating breakthroughs," and "setting new standards." The reason is that most things an innovator wants are just outside their current capabilities (otherwise, they'd already have them).
Dealing with this on a daily basis requires a resilient mindset and the ability to be comfortable with being uncomfortable.
Having no problems either means you're blind to your flaws or aren't playing a big enough game (which is a problem in itself).
So, I am thankful for my health, my family and friends, and the quality of my life. But, I am also thankful for the stress, the challenges, and the opportunity to face a continually better class of challenges that forge a path to a bigger future.
As we near the end of the year, I start to think about what I want for my future, and how far I’ve already come. It’s also a reminder that while I can extend my life – eventually, the clock stops.
Death is often a trigger that sends my thoughts spinning: celebrating life; mourning death; imagining what lies in store for the family; empathizing with the survivors ... and even future-pacing to my death and memorial service.
In daily life, I often remind myself that ‘everything happens for a reason – and just because I can’t find the gift in a particular situation, doesn’t mean it isn’t there.
This is the anniversary of my Father’s death. When he died, I came out with a newfound respect for how precious life is. I decided it was time to stop thinking about what I do – and spend more time cultivating who I want to be. It also caused me to consider how I would be remembered – versus how I’d choose to be remembered.
Death is often a reminder to make the most of the time given to us.
It was a reflection on my struggle with juggling work-life balance. It was about a year that brought my Dad’s death, the forced sale of my company by venture capitalists, and a divorce (in that order). 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 the purchasing power of money 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, inflation accrued, etc.).
It occurred to me that a similar calculation applied to life ... or living.
The above video is 13 minutes. Hopefully, you’ll watch ... but if not, I’ve added some of my favorite excerpts below.
Live Like You Only Have a Year Left.
“During the last part of my Dad’s life, I think he would have done almost anything for a little more time.
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.
Nevertheless, as a result of that focus, he took more life out of that time.
Shouldn’t we do the same thing? Think about it: We will never be younger than we are right now. We are never going to have more time to fix a big mistake. Isn’t it likely that the time value of your life is worth maximizing?”
People Who Are Good Take Advantage of Opportunities. People Who Are Great Create Them.
“When I think back to that year, I spent so much time moving away from pain ... that I forgot to move towards opportunity. I feel like I wasted so much time.
My Dad said the difference between good and great is infinitesimal. People who are good take advantage of opportunities ... But people who are great create them.
I think what he meant was that when they see the opportunity, they move towards it. They shoot through it.
It is easy to say, “I see that opportunity; but it’s not the right time.” Or, “I see that opportunity, and I really want to remember it for when this is over.” And as much as I want to believe that’s true ... deep down, I know that it’s always a good time to take the right action.
Instead, “life” (the noun) often gets in the way of “living” (the verb).
To Change Your Life, Change Your Perspective.
“When you are ‘stuck’... a shift in role, or a shift in perspective, is often all you need to see a new path forward or a new possibility.
Have you ever been stuck playing a role you knew didn’t serve you? Where you knew what the best next step was, from your perspective, but you had a sense that it wasn’t the right action? Sometimes it makes sense to step back and ask, ‘What role can I play that would get a better result?’”
That is often all it takes to change the game. Other times, what it takes is the decision to play a new game.
Everyone has the same 24 hours each day. Some use it better than others.
Sometimes we are conscious of how we use this precious resource. Sometimes it gets away from us.
The average life expectancy for men in the U.S. is 76.
How many amazing vacations do you have left? How many jaw-dropping moments? How many fantastic meals? How many Super Bowls?
What about time with your parents or older relatives? It’s easy to forget to call or to miss an important event because “life happens,” but if you realize you may have already used 95% of your in-person time with that person ... doesn’t it become more special?
In my TEDx talk, I mentioned “living like you only have a year left,” and how much more “life” we got out of the last part of my Dad’s life.
How do you replicate that?
To start, think of some of the activities you do, places you go, and experiences you have that are special and make you feel like your best self.
Hitting flow-state and creating something new and exciting;
Taking an amazing vacation and experiencing something completely new;
Having a moment with someone you love that makes you stop and say - Wow!
Making a difference in someone’s day or giving back to your community;
Experiencing peace and relaxation;
Feeling pure joy.
It’s easy to get lost and take these moments for granted when they happen, but when you think about how much time you have left, they take a whole new meaning.
What would it take for you to get the most out of your life today? How can you maximize the time you have left? Fill it with the best experiences, activities, and people you can.
To start, think about different time frames:
What activities could you commit to doing at least once a year?
What activities could you commit to doing at least once a month?
What activities could you commit to doing at least once a week?
What activities could you commit to doing at least once a day?
Make those lists ... it is a simple way to get a better return on the time value of your life.
Seriously, try it.
Let me know how it worked for you – and what you chose.
Happy Chinese New Year!
Chinese New Year happened this weekend.
So, Gong Xi Fa Cai … which translates to "Best wishes for a prosperous New Year!"
Often, Jennifer and I go to Indonesia to celebrate with Jen's family, but this time we stayed home and celebrated here.
On New Year's it is a lot easier to celebrate when you have a party to go to ... The trick is finding the celebration in the first place.
It's interesting to think about how many New Year celebrations there are. In addition to Chinese New Year, Muslims have Hari Raya Idul Fitri; Jews have Rosh Hashanah; of course, there is January 1st (and many others).
Which is correct? I think the answer is all of them. Regardless of your chosen New Year, it provides an opportunity to celebrate, share, reflect, plan, and commit to the right actions. If you've already fallen off the wagon of your new year's resolutions, this can be your reason to get back on them.
As I think about it, the same principle applies to trading. It's all a matter of perspective.
At some level, there really isn't a correct answer as to which trading style is best. The best technique is the one that works. Trading styles go in and out of phase, and if you get too attached to a particular technique, you can too easily get detached from profit. As any experienced trader can tell you, edges decay, people catch on, and trends change.
As businesses increasingly adopt Artificial Intelligence, the way forward is becoming evident. This involves utilizing AI to selectively activate and deactivate specific capabilities based on their effectiveness.
In trading or business, while no single method is guaranteed to succeed, there is always a method that can be effective. You just have to be flexible enough to know what you want and still be willing to accept something better.
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