right brain > left brain
Kaiser Josef Wrote Don Giovanni Syndrome (Phil Paine): we often give rulers credit for things that just happened when they were alive. If you asked the oligarchs of any declining place, they will tell you that they and their ancestors were the source of all wealth and creativity, when in fact the elites took over as the growth and newness were falt
... See moreSean • Knowing Things Is Hard
although we are all interested in margin it must never be done at the expense of our philosophy margin must be obtained by
better buying emphasis on selling the right kinds of goods we want to sell operating efficiencies lower Mark markdowns greater turnover increasing the retail prices and justifying on the basis that we are still competitive could
... See moreFounders Podcast • #365 Nick Sleep's Letters: The Full Collection of the Nomad Investment Partnership Letters
Sol Price memo from 1967 with Nick Sleep commentary
our quantitative
understanding of elasticity is shortterm we can estimate what a price reduction will do this week in this quarter but we cannot estimate the effect that consistently lowering prices
Founders Podcast • #365 Nick Sleep's Letters: The Full Collection of the Nomad Investment Partnership Letters
Jeff Bezos on lowering prices this week or this quarter.
Pricing is psychology like all the pricing videos I watched and you can't say raising or lowering prices would be better.
Graham Duncan felt that when he starting advising and changed 400 a week and raised it to 22000 a week and got way more business.
The trick is to treat knowledge as a tool we can pick up and put down. Or, even better, use it as instinct and intuition rather than explicitly applied. Sometimes, the most expert thing we can do is pretend we're not an expert at all
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We survive by naming shapes.
Lion, lightning, invoice. Commit to memory, move on.
That shorthand spares calories, keeps skin intact, and lets us cross streets without philosophizing about trucks.
The tradeoff: the moment a thing fits a label, its edges fade.
Nuance gets deleted, anomalies slip through the net, the field of possibility shrinks.
Useful fo... See more
Lion, lightning, invoice. Commit to memory, move on.
That shorthand spares calories, keeps skin intact, and lets us cross streets without philosophizing about trucks.
The tradeoff: the moment a thing fits a label, its edges fade.
Nuance gets deleted, anomalies slip through the net, the field of possibility shrinks.
Useful fo... See more
Jack Butcher
he says there's a blind spot as the overwhelming mythology methodology for research in economics
has been to take observations over a short period time as if cause and effect sit on top
Founders Podcast • #365 Nick Sleep's Letters: The Full Collection of the Nomad Investment Partnership Letters
# the nightmare bicycle
imo, the most important idea in product design is to avoid the "nightmare bicycle".
imagine a bicycle where the product manager said "people don't get math so we can't have numbered gears - we need to have labeled buttons for gravel mode, downhill mode, ..."
this is a hypothetical "nightmare bicycle" that Andy diSessa ima... See more
Halo Effect (Skepdic): if someone sounds wise, we tend to assume he or she is honest and good-looking. If someone is a criminal, we tend to expect that they cheat at senet and wear rumpled black.
Sean • Knowing Things Is Hard
Nick is seeing himself in that story right now in 2008 he's like I got I got Berkshire I got Amazon the key is
to not mess that up he the key is to not interrupt this these honest compounding machines which in itself is a decision a daily decision not to do anything and arguably more difficult than to do something because I think we are naturally wi
... See moreFounders Podcast • #365 Nick Sleep's Letters: The Full Collection of the Nomad Investment Partnership Letters
Is this me today with Lemonade, Hims and Aduro?