Monthly Archives: December 2014

Insurers To Rescue The Financial Statement

Here’s a fascinating idea from Joshua Ronen, via The Economist (gated): The most elegant solution comes from Joshua Ronen, a professor at New York University. He suggests “financial statements insurance”, in which firms would buy coverage to protect shareholders against … Continue reading

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Hamming on a Leader’s Focus

It is well known the drunken sailor who staggers to the left or right with n independent random steps will, on the average, end up about root n steps from the origin. But if there is a pretty girl in … Continue reading

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Hamming on How to Do Great Things

I recently finished a book by Richard Hamming called “The Art of Science and Engineering”. This book received an extraordinary recommendation from Bret Victor, a pretty interesting guy in his own right (how cool is his website?). Then Bret went and … Continue reading

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Bezos on Risk

one of my jobs is to encourage people to be bold. It’s incredibly hard.  Experiments are, by their very nature, prone to failure. A few big successes compensate for dozens and dozens of things that didn’t work. Bold bets — … Continue reading

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A Kind of Memory

Reading and experience train your model of the world. And even if you forget the experience or what you read, its effect on your model of the world persists. Your mind is like a compiled program you’ve lost the source … Continue reading

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I Like Disruption Jargon

So I’m a big fan of one category of business jargon: disruption. Now, to be clear I don’t think it’s a useful general theory of business. It’s just an excellent metaphor and an interesting collection of stories about innovation. That’s it … Continue reading

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What Credit Cards Did

In the 70s, it wasn’t the banks providing consumer lending, it was the stores, through layaways and store cards. It took the credit card companies to intermediate between the banks and the consumer to disrupt and displace the stores in … Continue reading

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