China and the US produce 23.2 trillion and 19.4 trillion respectively; unchallenged powerhouses now. That being said, the global balance of power and population is shifting; and many developing countries (like India) are growing quickly.
It seems likely that with their population growth and maturation as global economies, we'll see a relatively different landscape in 10 years. Will it look like this? Maybe? But Egypt's projected growth of 583% seems a bit beyond normal expectations ... Time will tell!
Here are the biggest companies by revenue (in 2018) in almost every state. You'll notice some states are missing. Alaska, Montana, New Mexico, South Dakota, Vermont, West Virginia, and Wyoming lack Fortune 1000 headquarters.
Theresa May has just announced her resignation as UK Prime Minister. She's faced massive criticism for an inability to come to a resolution on Brexit, and missing two deadlines. A new PM will be appointed in July.
Here are some of the posts that caught my eye recently. Hope you find something interesting.
When I first got out of Law School in the 1980s, "professionals" didn't type ... that was your assistant's job.
Then again, most people couldn't have imagined what computers and software are capable of now.
Looking back, my career has been a series of cycles where I was able to imagine what advanced tech would enable (and how business would have to change to best leverage those new capabilities).
Malcolm Gladwell suggests that it takes 10,000 hours of focus and effort for someone to become an expert at something.
But the game is changing.
Today, we can do research that took humans 10,000 hours in the time it took you to read this sentence. Moreover, technology doesn't forget what it's learned because a computer's memory is much better than yours or mine.
Still, technology isn't a cure-all. Many people miss out on the benefits of A.I. and technology for the same reasons they didn't master the hobbies they picked up as an adolescent.
I shot a video discussing how to use technology to create a sustainable creative advantage. Check it out.
Most people realize this technology is cool - and they want to use AI - but they forget what mastery takes.
When using AI and high-performance computing, you need to ask the same questions you ask yourself about your life's purpose.
What's my goal?
What do I (or my systems) need to learn to accomplish my goal?
What are the best ways to achieve that goal (or something better)?
Too many companies are focused on AI as if that is the goal. AI is simply a tool. As I mentioned in the video, you have to define the problem the right way in order to find a solution for it.
Artificial Intelligence is a game-changer - so you have to approach it as such.
Know your mission and your strategy, recognize what you're committing to, set it as a compass heading and make deliberate movement in that direction.
I end the video by saying, "Wisdom comes from making finer distinctions. So, it is an iterative and recursive process... but it is also evolutionary. And frankly, that is extraordinarily exciting!"
It means exactly what it sounds like - but also a lot more.
We use A.I. to trade. So, measuring performance is important. But, so are all sorts of production, efficiency, and effectiveness measures.
While there are hundreds of important metrics we track day-to-day, energy affects everything.
Energy affects how you feel, what you do, and what you make it mean. That means it is a great way to measure your values too.
Consequently, even if you don't recognize it, energy has a lot to do with who you hire and fire. It affects where you spend our time. Ultimately, it even affects the long-term vision of our company.
If something brings profit and energy, it is probably worth pursuing.
In contrast, one of the quickest ways to burn out is by fighting your energy. Figuring out who and what to say "no" to is an important way to make sure you stay on path and reach your goals.
Normally, Genius Network is private, and these recordings are for internal use only; but I asked permission to share my impromptu session with you.
Check it out. In the first 5 minutes, I will introduce the scorecard. For the next 10 minutes, you'll get an extra look at the resulting group discussion.
I use this tool to diagnose where we are during meetings, while ranking opportunities, and even for HR and partnership decisions.
Think of each comparison as a spectrum. They're not necessarily "one-or-the-other", but they can help identify where you are on the scale of "what to avoid" versus "what you want".
Blaming <-----> Encouraging
Insistent <-----> Inspirational
Fearful <-----> Abundant
Steadfast <-----> Curious
Clogging <-----> Cleansing
Resentful <-----> Grateful
Zero-Sum <-----> Relational
Small-Minded <-----> Visionary
These words mean something to me, but they may need tooling to work in your company. Changing the names, the order of the comparisons, the number of comparisons, etc. can have a profound effect on the usefulness of this scorecard to you.
I encourage you to think about how you could use this scorecard, and how you can bring attention to those people and actions that best embody the traits that are vital to your business.
While many people consider Buffett to be an investor, I also consider him to be an entrepreneur.
At the age of six, he started selling gum door to door. Obviously, selling gum wasn't the key to his path to riches. So, how did he make his first million? Here's a video that explains it.
The answer is .... not as close as I would have thought. Nonetheless, they just hit a Trillion Dollar market cap. So, they must have gotten something right!
It's interesting to think about which factors or missing innovations caused the difference between their imagined vision and reality.
They really bought into scaleable, HD, transparent, touch screen displays being not only available, but located in everything by now ... which suffice to say, isn't the case.
The reality is ...
A lot of these innovations actually have little use - Not every situation needs a transparent monitor - they're worse than standard monitors in almost every way. You end up using absurdly expensive screens to display a digital version of a post it note or handwriting. The desk/monitor hybrid would be covered in sheets of paper, office supplies, and your coffee. A boarding pass being a screen is highly inefficient for so many reasons - and so is a digital newspaper. We have those - they're called phones.
They assumed batteries would be way farther along - The thinner your monitor, the more transparent, the harder it is to create a high-performance high-fidelity battery to maintain it. Unfortunately, batteries haven't had nearly the boom like the rest of our tech (though they are getting better).
IoT Adoption/Security - One of the biggest problems with IoT is that the more these pieces communicate the harder it is to prevent hacks. A chain is only as strong as the weakest link - and a smart coffee maker isn't nearly secure as your computer.
Fingerprints (Glass) - I get this isn't a "real" concern - but every piece of technology they showed was transparent/glass. On top of being very breakable (see Samsungs new foldable phones) Could you imagine how smudged/dirty everywhere would appear? Imagine a New York subway with this technology.
Expense v. Convenience - A lot of technologies are feasible - but aren't cost-effective. Look at the slow adoption of Solar cells as their efficiency per cost went up.
Making everything a device/screen means more opportunity for companies to serve you ads and retarget you ad infinitum.
Ultimately, I find this perceived "modern digital office environment" very inefficient. A lot of these "innovations" are less dynamic and easy to use than their analog counterparts. Mechanical keyboards serve a purpose.
In reality, a lot of the trends we've adopted to increase collaboration and sharing have been counterproductive. Not every office needs an open floor plan - not every team needs 15 subteams with 4 bosses - and using 20 different productivity tools actually decreases productivity.
That being said, we've come a long way in 10 years. Think about the quality of your phone in 2009 or your desktop computer - whirring loudly as it tried to access the disk, or the internet, or anything really.
What we have now isn't perfect - but it's leaps and bounds ahead of where we were. A lot of technology seems like science fiction - like the Babel fish from Hitchhikers Guide to the Galaxy.
Here Are Some Links For Your Weekly Reading - June 2nd, 2019
Toronto plays Golden State in game two of the NBA Finals tonight. Tickets were a little pricey!
Here are some of the posts that caught my eye recently. Hope you find something interesting.
Lighter Links:
Trading Links:
Posted at 06:16 PM in Current Affairs, Gadgets, Healthy Lifestyle, Ideas, Just for Fun, Market Commentary, Personal Development, Science, Trading, Trading Tools, Web/Tech | Permalink | Comments (0)
Reblog (0)