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The Observer Effect – Tobi Lütke
John Wanamaker, and he said something really smart related to advertising. He said, “Half the money I spend on advertising is wasted; the trouble is I don't know which half.” That's sort of a special theory of decision making. I think there's a general theory of decision making, which is that 50% of what anyone does is important; we just don't know... See more
theobservereffect.org • The Observer Effect – Tobi Lütke
On that note, why are technical founders overperforming the market right now? I don't actually think it's because they're technical. I think it's because of a very specific childhood experience that a lot of the people running technology companies have had. Most of us grew up in a world which we knew would change significantly because it was really... See more
theobservereffect.org • The Observer Effect – Tobi Lütke
The two best examples of spontaneous organization that led to world class results are Wikipedia and Linux kernel.
theobservereffect.org • The Observer Effect – Tobi Lütke
one of the best things that happened in the last ten years are podcasts. Now, I can listen to experts talking amongst each other and be a fly on the wall to the most interesting conversations ever.
theobservereffect.org • The Observer Effect – Tobi Lütke
When you just watch the game, it looks like you make decisions between extracting resources, investing in expansion, et cetera. By the way, that alone is a lesson that I think Starcraft players are already better at than a lot of people who end up getting MBAs
theobservereffect.org • The Observer Effect – Tobi Lütke
Silicon Valley famously underestimated commerce as a business model. I don't think I would have a career if Silicon Valley had understood sooner just how good transactions are as a business model and how important they are.
theobservereffect.org • The Observer Effect – Tobi Lütke
We want to make it so that for $29, for our basic plan, you get most of the things that Amazon built for itself, right off the bat.
theobservereffect.org • The Observer Effect – Tobi Lütke
If people agree that's potentially an issue, the best way to counteract it is to build business models that actually reinforce the opposite, and give people the ability to do their own things online or participate in production. Shopify is that to me.
theobservereffect.org • The Observer Effect – Tobi Lütke
I really, really want as many people as possible to have the ability to engage in entrepreneurship, because there's a certain group of people who cannot work for other people, and they should have options, even in the digital world. And frankly, the internet has significantly pushed everything towards centralization and we know who owns most of it.